Latest update and news

22nd Jan, 2019

Nifty holds 10,900-mark; Sensex ends 134 pts down

Published on: 3:42 pm

  • Equity benchmark indices ended Tuesday in the red with the Sensex closing 134 points down at 36,444 levels. Nifty also closed 39 points down at 10,922 levels, holding its key level of 10,900-mark.
  • Among stock, Sun Pharma (+5%), Wipro (+3%), Titan, Kotak Mahindra Bank, and Dr. Reddy’s (+2%) were the biggest gainers on the NSE. Conversely, Vedanta (-4%), Tata Steel, M&M, and JSW Steel (-3%) lost the most on the NSE. 
  • Market breadth was also negative on the NSE with 1,157 shares declining, 536 shares advancing, and 365 shares remaining unchanged.

Live share market update: Markets continue to trade with a negative bias, Nifty down 51 points

Published on: 2:55 pm

  • Indian equity markets continue to trade with a negative bias witnessing a marginal pullback from the low point of the day.
  • The Nifty was down 51 points at 10,909, while Bank Nifty was down 43 points at 27,490.
  • Nifty Pharma and Nifty Realty were the only two sectoral indices trading in the green, up 1.75% and 0.64%, respectively. Read more.

Nifty Media index drops 2% led by UFO Moviez, Zee Media, Dish TV

Published on: 2:53 pm

  • The Nifty Media index was trading 1.5% down on Tuesday following a sharp sell-off in UFO MoviezZee MediaDish TV, and Network 18
  • Shares of UFO Moviez, which slumped 6%, were leading the index’s fall.
  • The stock fell as the National Company Law Tribunal (NCLT), Mumbai bench, dismissed the petition filed jointly by the company and PJSA Technosoft Private Limited (PJSA) for the approval of the amalgamation scheme. Read more.

Asian Paints Ltd's Q3FY19 consolidated net profit rises 14.1% yoy to Rs647.2cr : Beats Estimates

Published on: 2:50 pm

  • Asian Paints Ltd (APNT) reported healthy set of numbers for the quarter ahead of estimates on all fronts.
  • Consolidated revenue (net of excise duty in the base quarter) of the company grew 24.3% yoy to Rs5,294cr (~9% above consensus estimates).
  • However, due to higher input cost, gross margins contracted 127bps yoy restricting EBITDA growth at 17% yoy to Rs1,043cr (estimate 937.5cr). Read more.

Zensar Technologies inks deal with Lorhan IT services

Published on: 2:48 pm

  • Zensar Technologies Ltd has entered a definitive agreement for the transfer of certain businesses by way of slump sale to Lorhan IT Services Pvt Ltd, a wholly-owned subsidiary of First Tek Inc.
  • The company made the announcement to the exchanges on Tuesday afternoon. Despite the news, shares of the company dropped ~4% in intraday trade on Tuesday. Read more.

TVS Motor Company Ltd's Q3FY19 standalone net profit rises 15.6% yoy to Rs178.40cr : Beats Estimates

Published on: 2:33 pm

  • TVS Motor Company Limited (TVSM) reported strong set of numbers in Q3FY19 at all three levels – revenue, EBITDA and PAT.
  • Standalone revenue came in at Rs4,664cr, up 26.1% yoy.
  • Revenue surpassed consensus estimate of Rs4,592cr. Revenue growth was led by ~19.8% yoy volume growth and ~5% yoy realization growth. Read more.

Shree Cement Ltd's Q3FY19 standalone net profit declines 9.6% yoy to Rs301.3cr : Beats Estimates

Published on: 2:30 pm

  • Shree Cement reported mixed set of numbers for the quarter; though revenue was marginally lower than estimate, profit beat the estimate significantly. 
  • The company reported revenue growth of 20.8% yoy to Rs2,780.6cr, ~2% lower than consensus estimates.
  • Though the power cost was up 175bps yoy (as percent of sales), it was offset by lower freight cost on account of softening in crude prices and axle norms (down 241bps yoy). Read more.

Stocks react to earnings: Havells up ~5.5%, TVS climbs 3.5%, Alembic Pharma jumps ~2.5%

Published on: 2:30 pm

  • Shares of Havell’s India soared 5.5% in intraday day trade on Tuesday as the company announced robust numbers for the quarter ended December 2018.
  • Havell’s India reported numbers ahead of our estimates on all fronts. Read more. 

Stocks react to earnings: Havells up ~5.5%, TVS climbs 3.5%, Alembic Pharma jumps ~2.5%

Published on: 2:25 pm

  • Shares of Havell’s India soared 5.5% in intraday day trade on Tuesday as the company announced robust numbers for the quarter ended December 2018.
  • Havell’s India reported numbers ahead of our estimates on all fronts. Read more. 

Havells India Ltd's Q3FY19 standalone net profit was flat yoy to Rs195.7cr : Beats Estimates

Published on: 1:51 pm

  • Havells India reported strong set of numbers ahead of our estimates on all fronts.
  • Company reported revenue growth of 28.1% yoy to Rs2,518.4cr, ~13% ahead of the estimate. Read more. 

Sun Pharma discontinues AML, unwinds loans; stock gains 5%

Published on: 1:10 pm

  • Shares of Sun Pharma were trading 5% up on Tuesday after it announced major steps to undo the damage to the company, including the discontinuation of a super stockist arrangement with Aditya Medisales (AML) and the unwinding of loans given to a third party.
  • "Sun Pharma has initiated steps to induct SRBC & Co LLP, its statutory auditors, as auditors of subsidiaries that are currently audited by Valia & Timbadia," the company said in a press note to the exchanges on Tuesday. Read more.

Asian Paints drops ~0.5% ahead of Q3FY19 results

Published on: 1:00 pm

  • Shares of Asian Paints (APNT) dropped ~0.5% ahead of announcing its Q3 earnings. Share prices dropped to a low of Rs1410.25 on the BSE, a drop of 20 points from its previous closing of Rs1420.65.
  • For Q3FY19, EBITDA margin is expected to contract by 19.3% or 161bps yoy, due to raw material inflation (Titanium Oxide price was up ~14% yoy in Q3FY19). Read more
  • In Q2FY19, APNT reported a healthy ~11% volume growth in the decorative segment. Economic revival and focus on housing segment are expected to push decorative volume growth to double digits from FY19 onwards. Read more.

Maharashtra Seamless gains 2% as NCLT approves acquisition of United Seamless resolution

Published on: 12:05 pm

  • Shares of Maharashtra Seamless were trading 2% up in noon trade on Tuesday after the National Company Law Tribunal (NCLT) approved resolution plan for acquisition of United Seamless Tabulaar Private Limited (USTPL) under the Corporate Insolvency Resolution Process.
  • The Corporate Insolvency Resolution Process was initiated against USTPL under the Insolvency and Bankruptcy Code 2016, the company said in a press note to the exchanges on Tuesday. Read more.

Sensex slips ~200 pts; Nifty hovers near 10,900-mark

Published on: 12:03 pm

  • Equity benchmark indices were trading in the red on Tuesday with the Sensex shedding 186 points to 36,393 levels. Nifty also dropped 63 points at 10,898 levels, close to its key level of 10,900.
  • All sectoral indices were in the red except Nifty Pharma and Realty indices on the NSE. The Nifty Metal and Auto indices slumped 2% each, followed by Nifty Media and PSU Bank which were down 1% each.
  • Among shares, Sun Pharma, Kotak Mahindra Bank, GAIL, BPCL, and HPCL were the top gainers on the NSE. Conversely, Vedanta, JSW Steel, Hindalco, Tata Steel, and M&M lost the most.
  • Market breadth was negative on the NSE with 1193 shares declining, 448 shares advancing, and 413 shares remaining unchanged.

Nifty Metal index drops 2% amid weak global cues

Published on: 12:00 pm

  • The Nifty Metal index was trading 2% down on Tuesday amid demand growth tensions in global markets. Shares of Hindustan ZincJindal SteelVedanta, and APL Apollo led the index’s fall.
  • The index was under pressure after China, the world’s biggest base metals consumer, reported disappointing growth data.
  • As per the National Bureau of Statistics, Beijing’s fourth-quarter growth rate of 6.4% yoy, matched that of the first quarter of 2009. That was the lowest growth rate since the Chinese government began publishing quarterly growth rates at the beginning of 1992. Read more.

Q3FY19 earnings reaction: Hindustan Zinc down; Kotak Mahindra up

Published on: 11:36 am

  • Shares of Hindustan Zinc were trading 4% down, while those of Kotak Mahindra Bank were trading 3% up post their respective results for the third quarter of FY19.
  • Hindustan Zinc’s revenue fell 6.5% yoy to Rs5,540cr. Investors were expecting revenue to come at Rs5,566cr. EBITDA stood at Rs2,838cr, down 12.5% yoy against the estimates of Rs2,813cr. Its EBIDTA margin fell 355bps yoy to 51.2%, while its net profit stood at Rs2,211cr against an estimate of Rs1,995cr.  Read more.

Page Industries stock slips post block deal

Published on: 11:08 am

  • Shares of Page Industries declined for the sixth consecutive session on the BSE.
  • Around 1.7 lakh shares or 1.5% equity of the company changed hands in a block deal, as per media reports. Read more. 

Ashok Leyland tumbles 4% after brokerage downgrades stock

Published on: 10:59 am

  • Shares of Ashok Leyland slumped 4% in morning trade on Tuesday on media reports that international brokerage house CLSA has initiated a ‘sell’ call on the vehicle manufacturing major’s stock.
  • CLSA said that the truck industry is likely to enter a downturn after a five-year upcycle. Read more. 

Nifty opens below 10,950 mark; Sun Pharma, Prabhat Dairy stocks surge

Published on: 9:50 am

  • Equity benchmark indices snapped their five-day rally and opened lower in Tuesday’s trade. 
  • Reliance Industries, Infosys, HDFC twins, and ITC are the major contributors to the index's fall. Read more. 

Just Dial Ltd's Q3FY19 standalone net profit rises 18.4% qoq to Rs57cr : Beats Estimates

Published on: 9:35 am

  • Just Dial reported better than expected numbers for Q3FY19 on PAT front.
  • Revenue grew by 15.2% yoy and 2.6% qoq to Rs227cr against median consensus estimate of Rs225cr. Read more. 

Expectations from Interim Budget 2019 – Real Estate Sector

Published on: 9:30 am

  • The real estate sector in India is one of the most important and critical sectors as it contributes 6-7% of the GDP and generates a substantial amount of employment in the country.
  • The sector currently employees over 50mn people and is expected to generate 10-15% jobs over the next five years. Read more. 

Prabhat Dairy sells its dairy business to Lactalis for Rs1,700cr; stock up 15%

Published on: 9:09 am

  • Prabhat Dairy has signed a definitive binding agreement with Tirumala Milk Products Pvt. Ltd., wholly owned subsidiary of French Dairy group ‘Lactalis’, to sell its dairy business for Rs1,700cr.
  • The deal is expected to be completed by Q1FY20E, subject to various approvals. Read more. 

IMF cuts global growth forecast; expects India’s GDP at 7.5% in FY20

Published on: 9:04 am

  • The International Monetary Fund (IMF) has trimmed its forecast for the global economic growth for 2019 and 2020; however, it hikes projection for India’s economic growth by 10 basis points to 7.5% for FY20.
  • The global growth forecast has been trimmed for 2019 by 0.2 percentage points and for 2020 by 0.1 percentage points below last October’s projections to 3.5% and 3.6%, respectively.  Read more. 

IDBI Bank’s board approves divestment of stake in IDBI Federal Life Insurance

Published on: 8:38 am

  • IDBI Bank in its filing to the exchanges informed that its board of directors in a meeting held on Monday has granted in-principle approval to the proposal to reinitiating a divestment process of IDBI's stake in IDBI Federal Life Insurance Co. Ltd.
  • The decision of the board is subject to statutory/regulatory approvals, if any, required to be obtained in this regard, the bank said in a press note after market hours to the exchanges on Monday. Read more

Results to watch out for - Asian Paints, TVS Motor, Havells, Oberoi Realty

Published on: 8:37 am

Quarterly results that are expected today include Asian PaintsTVS Motor CompanyHavells IndiaOberoi RealtyHDFC Standard Life Insurance CompanyReliance Nippon Life Asset ManagementShree CementICICI Prudential Life Insurance Company, RS Software (India), Rane (Madras), Syngene International. Read more

Share Market Update: 3 Stocks that have given a price breakdown below its 200DMA

Published on: 8:35 am

  • Moving average is a widely used technical indicator of stock prices that helps to smooth out the volatility in the price action by filtering out the noise from random price fluctuations.
  • A moving average is a trend-follow lagging indicator as it is calculated taking past data into consideration. Read more. 

Bulk Deals

Published on: 8:20 am

  • Banka BioLoo: Vinraa Technology LLP sold 50,400 shares of the company at Rs95.13 a share.
  • IMP Powers: Mehta Manishkumar Sumatilal bought 48,332 shares of the company at Rs45.81 a share.
  • M K Proteins: Aruna Homes Private Limited bought 32,000 shares of the company at Rs76.3 a share.
  • Punj Lloyd: IFCI sold 16.92 lakh shares of the company at Rs3.8 a share.
  • Supreme Engineering: Hansa Ashok Jain sold 1.56 lakh shares of the company at Rs27.27 a share.
  • Websol Energy System: Garnet International sold 1.52 lakh shares of the company at Rs26.73 a share.

Current FII data

Published on: 8:18 am

FII/DII Data: In yesterday’s trading session, FIIs sold 299cr stock in the cash market, whereas DIIs bought 520cr worth of stock. In the derivative market, FIIs bought 485cr of Index futures and bought 645cr worth of Index options. In the Stock futures segment, FIIs bought 388cr worth of stock futures and sold 162cr stock options.

FII View: FIIs continued created bullish positions in the derivative segment, which is deduced by the fact that they created 3985 long contracts in Index Futures, while simultaneously creating 12903 long contracts in Index Call Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 229 2 55 0.9 0.9
Index Short 260 (1) 80
Index Call Long 224 6 69 3.1 0.8
Index Call Short 71 (1) 117
Index Put Long 380 (0) 69 2.1 0.6
Index Put Short 177 3 189

SGX Nifty indicates a flat opening for the Indian markets

Published on: 8:17 am

  • SGX Nifty is at 10,961.85, up 54.90 points.  For today, expect more color from earnings & stability on the rupee to see the broader market witness some upside. 
  • Nifty saw heavyweights Reliance & Kotak Bank pull the index to the highest close in 3 months even as the broader market struggled. The re-rating of Reliance saw Nifty come within whispering distance of 11000 as fresh buying saw new near term highs on the stock. Read more

Top stocks in focus: Asian Paints, TVS Motor, IDBI Bank, Power Grid

Published on: 8:14 am

  • IDBI Bank’s board approved to reinitiate divestment process of the bank’s stake in IDBI Federal Insurance.
  • Power Grid Corporation appointed director Ravi Singh as CMD with effect from January 21, till a regular appointment is made for the post after outgoing CMD S. Jha gets released by Power Ministry post his appointment as the member of Central Electricity Regulatory Commission.
  • Canara Bank said that it started inviting bids to offload its equity stake in NSDL, NSDL e-Governance Infra and Small Industries Development Bank of India. Read more

Broker Radar for January 22

Published on: 8:00 am

Macquarie maintained ‘Outperform’ on Kotak Mahindra Bank; hiked TP to Rs1,450 from Rs1,325.
  • In-line numbers and a stable quarter; sound balance sheet.
  • Key Highlights: stable asset quality and CASA ratio, decent loan growth and improving margins.
  • Loan growth driven by CVs, personal loans and corporate banking.
CLSA Maintained ‘Buy’ on Union Bank with a TP of Rs105.
  • Slippage stays elevated due to stress in corporate and SME portfolios.
  • Slower loan growth will help preserve capital and CASA franchise.
  • Earnings to normalise from 2019-20 onwards. Read more

What not to miss today

Published on: 7:58 am

  • Markets to open flat; Nifty support @10844, resistance 11070.
  • FIIs sold 299cr (cash), bought 485cr in Index Futures.
  • US, Asian markets down amid global economic woes.
  • IMF - cuts global growth outlook on weakness in Europe and trade wars; India to be global growth leader in 2019-20, but fiscal slippage risk remains. Read more.

Derivative Watch

Published on: 7:38 am

  • Nifty and Banknifty continue to gain upward momentum with rising open interest, indicating a buildup of long positions.
  • On the options front, out of the money call option strikes continued to shed open positions, indicating short covering.
  • UBL & IGL added fresh long positions, while Union Bank and Jublfood added short positions.

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