Latest update and news

23rd Jan, 2019

Markets end lower as ITC plunges

Published on: 3:51 pm

  • Indian benchmark indices witnessed a sharp selloff in the closing hour of trade as across-the-board selling pressure weighed in.
  • Sensex, Nifty & Bank Nifty index saw deep cuts, ending the day ~1% lower. ITC was among the top heavyweight losers, shedding 4.3% in trade after posting its Q3FY19 earnings. Read more

Sensex slips over 300 points led by ITC

Published on: 3:32 pm

  • Equity benchmark indices have extended losses in the last hour of trading session on the back of sharp fall in ITC.
  • The BSE benchmark index was down 336 points at 36,107 and the Nifty-50 is down 91 points at 10,831.
  • Volatility index India VIX up 0.50% to 18.07.
  • The most active stocks were Sun Pharma, ITC, Reliance Industries, Yes Bank, and ICICI Prudential.

BASF slips ~3.5% on weak Q3 numbers

Published on: 3:25 pm

  • Shares of BASF India were down ~3.5% in intraday trade on Wednesday after the company reported a weak set of numbers for Q3FY19.
  • BASF India’s revenue for Q3FY19 came in at ~Rs1,405cr, an increase of 9.9% yoy. BASF India reported an EBITDA loss of Rs11.85cr for the quarter as against an EBITDA profit of Rs67.91cr in Q3FY18. Read more.

BASF India Ltd posts standalone net loss of Rs38.37cr in Q3FY19

Published on: 3:03 pm

  • BASF India Ltd's revenue for Q3FY19 came in at ~Rs1,405cr, an increase of 9.9% yoy. BASF India reported an EBITDA loss of Rs11.85cr for the quarter as against an EBITDA profit of Rs67.91cr in Q3FY18.
  • The net loss after tax (including exceptional items) for the company came in at Rs38.37cr in Q3FY19 vs. net profit of Rs6.92cr in Q3FY18. Read more

FMCG heavyweight ITC pulls down Sensex, Nifty

Published on: 3:00 pm

  • Equity benchmark indices have extended losses in afternoon deals on the back of sharp fall in ITC. The BSE benchmark index is down 200 points at 36,244 and the Nifty-50 is down 46 points at 10,871.
  • Shares of ITC erased morning gains and are trading lower after the company announced its Q3FY19 results. The company's net profit increased by 4% to Rs3,209cr. Its profit in the corresponding quarter of the last fiscal stood at Rs3,090cr. Read more

ITC stock skids 2% post Q3FY19 results

Published on: 2:50 pm

  • Shares of ITC erased morning gains and are trading lower after the company announced its Q3FY19 results. The company's adjusted PAT (excluding the exceptional item gain in the base quarter) grew 13.8% yoy to Rs3,209.1cr and was broadly in line with the estimates.
  • Revenue from operations in Q3 grew by 15% to Rs11,227.7cr, driven by growth across segments on a yoy basis. Its operating margin contracted to 38.5% during the period from 39.8% yoy. Read more

HG Infra Engg gains 6% on order wins worth Rs958.82cr

Published on: 2:49 pm

  • Shares of HG Infra Engineering were trading 6% up on Wednesday after the National Highways Authority of India (NHAI) declared the company as the lowest bidder for a road project worth Rs958.82cr.
  • HG Infra Engineering Ltd share price is currently at Rs198.80, up Rs11.15, or 5.94%, from its previous close of Rs187.65 on the BSE.

ITC Ltd's Q3FY19 standalone adj. net profit rises 13.8% yoy to Rs3,209.1cr

Published on: 2:45 pm

  • ITC Ltd reported a decent set of numbers for the quarter ended December 2018 which were broadly in line with the estimates on the operating fronts.
  • Revenue (net of excise duty) grew 14.9% yoy to Rs11,227.7cr, ~5% higher than the consensus estimates.
  • Adjusted PAT (excluding the exceptional item gain in the base quarter) grew 13.8% yoy to Rs3,209.1cr and was broadly in line with the estimates. Read more

Nifty holds 10,900 mark; ITC stock slips post Q3 results

Published on: 2:28 pm

  • The Sensex slipped 86 points to 36,358, while the Nifty was slightly down 22 points at 10,900 levels. The market breadth was narrow with 798 shares advancing, 861 shares declining, and 399 remaining unchanged.
  • Sun Pharma, Yes Bank, Zee, Wipro and JSW Steel were the top gainers on the Nifty50, while Indiabulls HF, Grasim, Infosys, Titan, and M&M were trading in the red.
  • The most active stocks were Sun Pharma, Reliance Industries, Yes Bank, ICICI Prudential, and Mindtree.

Nifty trades volatile; ITC up ahead of Q3 numbers

Published on: 2:13 pm

  • Equity benchmark indices were trading in a narrow range on Wednesday amid weak global cues and ahead of the interim budget next week.
  • The Sensex slipped 28 points to 36,416, while the Nifty was slightly down 4 points at 10,919 levels.
  • The market breadth was narrow with 820 shares advancing, 827 shares declining, and 411 remaining unchanged.
  • Shares of Vijaya Bank slipped after announcing Q3FY19 results. The bank's net profit stood at Rs143.4cr, up 80% on a yoy basis. Read more.

J Kumar Infraprojects gains 1% on order wins worth Rs225cr

Published on: 2:11 pm

  • Shares of J Kumar Infraprojects were trading 1% up on Wednesday after the company won an order worth Rs225cr from Gujarat Metro Rail Corporation (GMRC) Limited.
  • An order has been won for the construction of elevated viaduct from Vastral Gam to Apparel Park to Ramp Start in Reach-1 (East-West Corridor), the company said in a press note to the exchanges on Wednesday. Read more.

Vodafone Idea clarifies on news item; stock up 1%

Published on: 1:30 pm

  • Shares of Vodafone Idea rose 1% during the afternoon session on Wednesday.
  • The company has clarified on a news item appeared on ET with regard to Bharti Infratel & Indus Towers seeking Rs4,500cr from Voda Idea exit penalty. Read more. 

Hathway, Den Networks gain as CCI approves RIL’s stake buy proposal

Published on: 1:03 pm

Nifty hovers around 10,900 mark; Zee, Wipro stocks gain

Published on: 12:07 pm

  • Equity benchmark indices were volatile in late morning on Wednesday amid mixed global cues. The Sensex was down 15 points at 36,429, while the Nifty was up 3 points at 10,926.
  • Zee, Wipro, and HUL were the top Nifty gainers, while Infosys, Adani Ports, and TCS were among the top losers.
  • The most active stocks were ICICI Prudential, Reliance Industries, Sun Pharma, and Yes Bank.

Media, FMCG stocks lead; IT stocks under pressure

Published on: 11:44 am

  • The Nifty Media index was the best sectoral performer and was up 2%. TV18 Broadcast jumped over 3.5%, whereas Sun TV, Zee, Hathway, Network18, and Den Networks were the other gainers.
  • Shares of Den Networks and Hathway Cable and Datacom rose after the Competition Commission of India (CCI) approved their acquisition by Reliance Industries. Read more
  • In the FMCG space, Colgate, HUL, and Britannia led the rally. Shares of ITC were up 1% ahead of its Q3FY19 numbers. Read more

Walchandnagar gains 4% on order wins worth Rs96cr

Published on: 11:23 am

  • Shares of Walchandnagar Industries were trading 4% higher on Wednesday after the company won an order worth Rs96cr from the Indian Space Research Organization’s Vikram Sarabhai Space Centre (VSSC).
  • Accordingly, Walchandnagar Industries will manufacture and supply “S-139 End Segments” for the Polar Satellite Launch Vehicle (PSLV) program, the company said in a press note after market hours to the exchanges on Tuesday. Read more. 

Rupee appreciates 29 paise; trades at 71.21/$

Published on: 10:55 am

  • The Indian rupee has appreciated 29 paise on Wednesday to open at 71.19 against the dollar compared to its previous close of 71.44/$.
  • At 10:40AM IST the domestic unit was trading at 71.21 against the dollar.
  • The appreciation is on the back of a weak dollar. The greenback was under pressure against its major peers amid concerns regarding slowing global economic growth. Further, unsolved trade disputes between the US and China also kept the dollar under pressure. Read more.

ICICI Prudential plunges ~10% after PAT declines 34% in Q3FY19

Published on: 10:50 am

  • Shares of ICICI Prudential plunged to a two-year low of Rs310 on the BSE, a drop of ~10% from its previous closing.
  • Share prices plummeted as the company announced a disappointing set of numbers for the quarter ended December 2018.
  • ICICI Prudential Life Insurance Company Ltd's gross written premium increased by ~10% yoy to Rs7,566.36cr in Q3FY19.
  • The net premium income for Q3FY19 came in at Rs7,482.95cr, an increase of 10.1% yoy, in line with estimates. Read more.

Nifty holds 10,900 mark; Zee, JSW Steel stocks gain

Published on: 10:40 am

  • Equity benchmark indices opened on a tepid note tracking mixed global cues.
  • On the sectoral front, media, metal, and banking stocks are trading higher in the range of 1%, while auto, realty, and IT indices are under pressure.
  • The Sensex slipped 45 points to 36,398, while the Nifty was slightly up at 10,922 levels. The market breadth was positive with 888 shares advancing, 646 shares declining, and 520 remaining unchanged. Read more.

Bank of Japan holds rate, cuts inflation outlook again

Published on: 10:10 am

  • The Bank of Japan cut its quarterly inflation outlook for the third straight time as concerns grow about the global economy and US-China trade tensions.
  • The central bank said the decision to revise down the forecast was guided in part by a decline in oil prices.
  • The BOJ cut its inflation forecast for the fiscal year starting in April to 0.9% from 1.4%. It also trimmed the forecast for fiscal 2020 to 1.4% from 1.5%. Read more.

Va Tech Wabag wins desalination order worth Rs467cr

Published on: 9:50 am

  • Va Tech Wabag has won a desalination contract from Mangalore Refinery and Petrochemicals for a sum of Rs467cr.
  • The company made the announcement on Monday evening, post market hours. Read more. 

Results to watch out for today - ITC, Infratel, IndiGo, Ujjivan

Published on: 9:50 am

  • Quarterly results that are expected today include ITC, Bharti Infratel, InterGlobe Aviation, Vijaya Bank, Premier Explosives, Indoco Remedies, Raymond, Navin Fluorine International, Sintex Plastics Technology, Mafatlal Finance, Hathway Cable & Datacom, Dishman Carbogen Amcis, Orient Paper & Industries.
  • Radico Khaitan, Tejas Networks, BASF India, Essel Propack, Wendt (India), Vijaya Bank, Ujjivan Financial Services, Oriental Hotels, Mafatlal Finance, Pidilite Industries, Can Fin Homes, Everest Industries, JM Financial, DB Corp, United Spirits, Bank of Maharashtra, Tanla Solutions, Kewal Kiran Clothing, Thirumalai Chemicals, Reliance Communications, Atlanta will be also announcing its results today. Read more. 

Oberoi Realty falls ~1% on missing street estimates on all fronts in Q3FY19

Published on: 9:40 am

  • Shares of Oberoi Realty lost ~1% in early morning trade on Wednesday as the company missed street estimates on all fronts.
  • Oberoi Realty Ltd’s consolidated revenue from operations increased 48% yoy to Rs528.62cr as against Rs356.2cr in Q3FY18, however missing the consensus estimates by 23%. The EBITDA came in at Rs188.09cr, missing the consensus estimates by a whopping 48%. Read more. 

Inox Wind receives LoI from Adani Green Energy for wind project; stock gains 3%

Published on: 9:30 am

  • Shares of Inox Wind were trading 3% up after the company received a Letter of Intent (LoI) from Adani Green Energy to develop a 501.6MW wind project.
  • An LoI has been received to supply, erect, and commission 501.6MW of wind power projects, across projects, won under SECI auctions. Read more. 

JMC receives orders worth Rs507cr; stock gains 5%

Published on: 9:13 am

  • Shares of JMC Projects were trading 3% up on Wednesday after the company in its filing to the exchanges informed that it has bagged residential and commercial projects worth Rs507cr in South India. Read more. 

Asian equity markets trade mixed after IMF growth warnings

Published on: 8:59 am

  • Asian equities market opened lower on Tuesday on mounting signs of slowing global growth and anxiety over yet unresolved Sino-US trade dispute.
  • The IMF cut its global growth forecast because of the trade war between the US and China. Read more. 

Cyient acquires 26% in Cyient DLM

Published on: 8:50 am

  • Cyient, in its filing to the exchanges informed that it has signed a definitive agreement to acquire the remaining 26% stake in its subsidiaries, Cyient DLM, to take the overall holding to 100%.
  • The announcement was made after market hours on Tuesday. Read more. 

Oberoi Realty Ltd's Q3FY19 consolidated net profit rises 14.76% yoy to Rs137.93cr : Misses Estimates

Published on: 8:35 am

  • Oberoi Realty Ltd’s consolidated revenue from operations increased 48% yoy to Rs528.62cr as against Rs356.2cr in Q3FY18, however missing the consensus estimates by 23%.
  • The EBITDA came at Rs188.09cr, missing the consensus estimates by a whopping 48%. Read more. 

Top stocks in focus: RIL, ITC, Infosys, Prabhat Dairy

Published on: 8:20 am

  • CCI approves Reliance Industries' acquisition of Den Networks, Hathway Cable.
  • ITC will be in focus as the company will release its Q3FY19 results. Read more. 

ITC Q3FY19E Result Expectation

Published on: 8:20 am

  • ITC Consensus Expectations for Q3FY19E
  • Net Revenue – Rs 10,704.3cr, up 10.7% yoy; aided by cigarette volume growth of ~6% yoy (against a 4% yoy decline in the base quarter) and healthy FMCG segment growth (~12% yoy). Read more. 

Broker Radar for January 23

Published on: 8:15 am

CLSA maintained ‘Ssell’ on TVS Motor with a TP of Rs360.
  • Good growth in December quarter, in-line with estimates.
  • Two wheeler demand concerns; TVS better in scooter/premium-bikes but mopeds a drag. Read more. 

SGX Nifty indicates a flat opening for the Indian markets

Published on: 8:13 am

  • SGX Nifty is at 10,943, up 11 points.
  • For today, we should see more emphasis on mid-caps as more earnings & better results bring back confidence in the markets. Read more. 

Bulk deal

Published on: 8:05 am

  • Prabhat Dairy: Alquity Sicav - Alquity Indian Subcontinent Fund sold 16 lakh shares of the company at Rs 86.56 per share on the NSE.
  • Sri Krishna Metcom: Pratyush Foods Private Limited sold 70,000 shares of the company at Rs 69.8 per share on the NSE.
  • Vivimed Labs: ECL Finance bought 2.13 lakh shares of the company at Rs26.25 per shares on the NSE and 1.43 lakh shares at Rs25.28 per share on the BSE, while it sold 10 lakh shares of the company at Rs21.35 per share on the NSE and 10 lakh shares at Rs21.25 per share on the BSE. SKS Fincap Pvt Ltd also sold 5 lakh shares at Rs 21.35 per share on the NSE.
  • Page Industries: Nalanda India Fund Limited sold 1.85 shares of the company at Rs 22,161.05 per shares on the BSE.

What not to miss today

Published on: 7:55 am

  • Markets to open flat; ITC result in focus; Nifty support @ 10864, resistance 10975.
  • FIIs sold 78cr (cash), 460cr in Index Futures.
  • US, Asian shares down amid spurting worries regarding unsolved US-China trade war. Read more.

Derivative Watch

Published on: 7:51 am

  • Nifty future saw marginal unwinding of long positions.
  • Nifty & Bank Nifty PCR stands at 1.29x/1.20x
  • STAR 580CE was the top Call option gainer, surging 766% during the day.
  • Havells, TVS Motors & Shree Cement added fresh open interest, consisting of mainly long positions after posting its Q3FY19 results.

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