Latest update and news

24th Jan, 2019

Nifty settles above 10,850 mark led by Yes Bank

Published on: 3:30 pm

  • Equity benchmark indices snapped two day’s decline and ended higher led by Yes Bank.
  • The Sensex gained 87 points at 36,195, and the Nifty rose 18 at 10,850. The market breadth was negative as 938 shares advanced, while 1,533 shares declined and 152 shares remained unchanged.
  • Yes Bank has received RBI approval for its new MD & CEO, Ravneet Singh Gill to join on or before March 1, 2019. The stock jumped 14% on the NSE.

Ravneet Gill appointed as Yes Bank MD & CEO; stock spikes ~15%

Published on: 3:24 pm

  • Yes Bank has received RBI approval for its new MD & CEO, Ravneet Singh Gill to join on or before March 1, 2019.
  • Ravneet Gill, who is the CEO of Deutsche Bank’s India operations, will join the company on or before March 1, 2019.
  • The bank posted a net profit of Rs1,001cr for the third quarter ended December 2018. The net profit of the bank came at Rs1,076.87cr in the corresponding quarter a year ago. Read more

European stocks mixed; focus on US-China trade talks

Published on: 3:09 pm

  • Shares in European markets were trading on a mixed note on Thursday as investors are waiting for fresh developments in US-China trade talks amid concerns regarding global economic growth concerns.
  • As per a Bloomberg report, stocks on the Stoxx Europe 600 index were trading flat as fall in chemicals companies was offset by rising technology shares. Read more.

Nifty hovers around 10,850 mark; Pharma stocks decline 1%

Published on: 2:54 pm

  • Equity markets are witnessing a volatile trading session with benchmark indices gyrating across the unchanged line. The Nifty was trading 2 points higher at 10,833, while Bank Nifty is down 9 points at 27,241.
  • On the options front, short positions are being built in out-of-the-money strikes with Nifty 11000CE and 10800PE witnessing an addition of ~8.18 lakh shares and ~4.66 lakh shares, respectively.

VST Industries Ltd's Q3FY19 standalone net profit rises 11.4% yoy to Rs55.4cr

Published on: 2:50 pm

  • VST Industries reported a healthy set of numbers for Q3FY19. Revenue (net of excise duty) grew by 22.6% yoy to Rs293cr. Raw material cost was up 35.2% yoy leading to gross margin contraction of 503bps yoy to 46.2%.
  • Thus, EBITDA growth was restricted to 8.0% yoy to Rs86.3cr. Read more

Jyothy Laboratories slumps 5% post Q3FY19 numbers

Published on: 2:30 pm

  • Shares of Jyothy Laboratories were trading 5% down on Thursday after the company reported a mixed set of numbers for Q3FY19. The company's EBITDA was marginally below the consensus estimates, however, PAT came in line with estimates.
  • Jyothy Labs' revenue grew 6.3% yoy to Rs434.3cr, ~5% below the estimates. EBITDA for the quarter was up 5.2% yoy to Rs71.8cr (6.5% below estimates). Read more

UltraTech Cement Ltd's Q3FY19 consolidated net profit declines 14.5% yoy to Rs390.4cr

Published on: 2:23 pm

  • UltraTech reported a mixed set of numbers for Q3FY19; revenue was ahead of estimates, however, PAT was a big miss.
  • The company reported consolidated revenue growth of 18.9% yoy to Rs9,389.6cr, ~12% ahead of estimates on account of higher-than-estimated volume growth. Power cost remained elevated for the quarter as a percentage of net sales (up 324bps), however, the same was partially offset by lower cost of raw materials. Read more

Dr.Reddy's launches gDiprivan in US

Published on: 2:19 pm

  • Dr.Reddy's Laboratories Ltd has announced the launch of Propofol Injectable Emulsion, USP, a therapeutic equivalent generic version of Diprivan (propofol) approved by the USFDA.
  • "Dr.Reddy's is committed to providing affordable and innovative medicines for healthier lives. To that end, Dr. Reddy's neither condones nor supports the off-label use or misuse of its drugs," the company said in the filing. Read more

Markets witness volatile trading session

Published on: 2:16 pm

  • The Nifty was trading 2 points higher at 10,833, while Bank Nifty is down 9 points at 27,241 at 2.12PM.
  • Among the sectoral indices, Nifty Realty is the top performer trading higher by 1.78% led by strong gains in Oberoi Realty and Godrej Properties, up 5.6% and 3.4%, respectively.
  • Currently, Indigo is the best performing stock in the F&O segment trading 6.2% higher after having posted its Q3 results. Read more

Sterlite Technologies Ltd's Q3FY19 consolidated net profit rises 48.8% yoy to Rs147.61cr: Beats Esti

Published on: 2:06 pm

  • Sterlite Technologies posted a strong set of numbers in Q3FY19 and beat the street estimates on key fronts.
  • The company's consolidated revenues surged 59.8% yoy to Rs1,334.87cr in Q3FY19, beating the consensus estimates by 18%. Read more. 

PVR Ltd's Q3FY19 consolidated net profit rises 79.3% yoy to Rs52cr: Beats Estimates

Published on: 1:59 pm

  • PVR Ltd’s revenue in Q3FY19 grew 51.3% yoy and 19% qoq to Rs843cr.
  • EBITDA came in at Rs164cr, up 61.9% yoy and 32.5% qoq. Read more. 

Jyothy Laboratories Ltd's Q3FY19 standalone net profit rises 29.9% yoy to Rs48.4cr: In-line with Est

Published on: 1:52 pm

  • Jyothy Laboratories reported mixed set of numbers (standalone) for Q2FY19; revenue and EBITDA were marginally below consensus estimates, however, PAT came in line with estimates.
  • Revenue grew by 6.3% yoy to Rs434.3cr, ~5% below estimates. Read more. 

KPIT Technologies stock falls ~40% after ex-date for demerger

Published on: 1:35 pm

  • Shares of KPIT Technologies fell ~40% during intraday trade on Thursday following the demerger of its engineering division.
  • The stock has started trading ex-demerger as of today, January 24. Read more. 

Tejas Networks stock hits 52-week low after Q3 numbers

Published on: 1:10 pm

  • Shares of Tejas Networks hit 52-week low during afternoon session after the company reported a disappointing set of numbers in Q3FY19.
  • Revenue declined by 19.8% yoy to Rs184cr, a decline of 11% on qoq basis. Read more. 

Jindal Drilling rises 3% after order win

Published on: 12:58 pm

  • Jindal Drilling & Industries stock rose 3% on the BSE in Thursday’s session.
  • The stock climbed after the company has received contract from ONGC. Read more. 

CBI searches 4 locations under Videocon, Nupower loan sanction case: Reports

Published on: 12:40 pm

  • Shares of ICICI Bank dropped 1% in noon trade on Thursday after a PTI report said that the CBI has conducted searches at four locations, including the offices of Videocon and Nupower.
  • The companies are operated by former ICICI Bank CEO Chanda Kochhar’s husband Deepak in Mumbai. Read more. 

Nifty holds 10,800 mark; Tata Motors, Yes Bank stocks slip

Published on: 12:31 pm

  • Equity benchmark indices were trading flat on Thursday led by ICICI Bank, Tata Motors, and Bharti Airtel.
  • Shares of Persistent Systems gained 1% on Thursday after its board, on Wednesday, announced that it will be considering a share buyback proposal.
  • The Sensex was up 38 points at 36,147, while the Nifty up 6 points to 10,837. The market breadth was negative with 626 shares advancing, 995 shares declining, and 433 remaining unchanged.

Nifty Auto index under pressure; M&M hits 52-week low

Published on: 12:18 pm

  • The Nifty Auto index was trading lower ~1% at 8,552.80 amid heavy selling pressure in Tata Motors, Motherson Sumi, M&M, Ashok Leyland, and Bharat Forge.
  • Shares of Mahindra & Mahindra are trading at 52-week low of Rs686.05 on the NSE. The stock was trading at its lowest level since December 8, 2017.
  • On the flip side, Eicher, Maruti Suzuki, and Hero MotoCorp were in the positive zone. Read more

Persistent gains as board to consider buyback proposal

Published on: 11:47 am

  • Shares of Persistent Systems gained 1% on Thursday after its board, on Wednesday, announced that it will be considering a share buyback proposal.
  • "The board, at its meeting scheduled to be held on January 27 and to continue on January 28, will consider a proposal for the buyback of the fully paid-up equity shares of the company," Persistent said in a press note released after market hours on Wednesday. Read more

Infratel slips 4% to land among top Nifty losers

Published on: 11:30 am

  • Shares of Bharti Infratel erased their morning gains and were trading lower on both indices in late morning trade on Thursday.
  • The company, on Wednesday, reported that its consolidated revenue for the quarter ended December 2018 remained flat on a yoy basis.Read more. 

Nifty Realty index gains 3% led by Oberoi Realty, Godrej Properties, Sunteck

Published on: 11:20 am

  • The Nifty Realty index was trading 3% higher on Thursday amid heavy buying in Oberoi Realty, Godrej Properties, Sunteck Realty, Phoenix Mills, and DLF.
  • Shares of Oberoi Realty and Godrej Properties, which spurted 5% and 4%, respectively, were leading the index’s gain. Read more. 

Sensex, Nifty near day's high; Reliance Industries, Power Grid stocks surge

Published on: 11:03 am

  • Equity benchmark indices regain positive momentum in the morning trade.
  • The Sensex was up 83 points to 36,191, while the Nifty gained 21 points at 10,852 levels. The market breadth was narrow with 751 shares advancing, 752 shares declining, and 537 remaining unchanged.
  • Reliance Industries, Power Grid, and ITC were the top gainers on the Nifty50, while Tata Motors, UPL, and Infratel were trading in the red.

ITC rises on positive Q3FY19 results

Published on: 10:52 am

  • Shares of ITC Ltd rose 1% on the NSE during today's session.
  • The company on Wednesday reported a decent set of numbers for the quarter ended December 2018, which were broadly in-line with the estimates on the operating fronts. Read more. 

Vodafone Idea stock gains 1% on plan to raise Rs25,000cr via rights issue

Published on: 10:30 am

  • Vodafone Idea on Wednesday approved a Rs25,000cr fundraising plan by way of a rights issue to existing eligible equity shareholders, the company said in a BSE filing.
  • The promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs11,000cr and up to Rs7,250cr, respectively, as part of such rights issue, the company said. Read more. 

Moody's upgrades IDBI's long-term senior unsecured ratings to Ba2; outlook changed to positive

Published on: 10:26 am

  • Moody's Investors Service upgrades the long-term foreign currency senior unsecured rating of IDBI Bank and its Dubai International Financial Centre (DIFC) Branch to Ba2 from B1.
  • The long-term local and foreign currency bank deposit ratings of IDBI have been also upgraded to Ba2 from B1. Read more. 

Sensex, Nifty trade volatile; Media, FMCG stocks gain

Published on: 9:59 am

  • Equity benchmark indices opened on a positive note but later on it slipped into the negative zone.
  • On the sectoral front, realty, media, FMCG, and banking stocks are trading higher, while financial, auto IT indices are under pressure. Read more. 

Asian stocks mixed amid global growth worries

Published on: 9:32 am

  • Shares in Asian markets were trading on a mixed note as investors are waiting for a fresh development on the US-China trade talks amid global economic growth worries.
  • Chinese and Korean shares posted modest gains while those in Japan and Hong Kong were little changed. Read more. 

Sensex, Nifty open flat; Infratel, Yes Bank stocks gain

Published on: 9:17 am

  • Equity benchmark indices opened on a flat note, with the Nifty50 is trading below 10,850 mark.
  • The Sensex is down 16 points at 36,093 and the Nifty50 is down 10 points at 10,821. On the sectoral front, media, realty, FMCG, IT, and pharma stocks were in green, while auto, and banking were under pressure.
  • Volatility index India VIX slipped 0.67% to 17.96

Results to watch out for today - Yes Bank, UltraTech Cement, Biocon, PVR

Published on: 8:59 am

  • Quarterly results that are expected today include Yes Bank, UltraTech Cement, Biocon, Hatsun Agro Product, Quess Corp, PVR, Jyothy Laboratories, Reliance Power, Edelweiss Financial Services, Sharda Cropchem, PNB Housing Finance, Sintex Industries, Colgate Palmolive (India), Bharat Bijlee, ICRA, Punjab Chemicals & Crop Protection, Zee Media Corporation, Sunteck Realty, Pudumjee Paper Products, Poddar Pigments. Read more. 

MEP Infra receives appointment date from NHAI for road project

Published on: 8:59 am

  • MEP Infrastructure in its filing to the exchanges informed that the company’s subsidiary MEP Longjian VTR Private Limited has received January 21 as an appointment date from the National Highways Authority of India (NHAI) for a road project.
  • The scope of work includes construction of 8 Laning of existing 4 Lane Vadape to Thane from 539.202km to 563.000km section of NH-3 (new NH-848) in Maharashtra to be executed on Hybrid Annuity Mode, the company informed in a press note after market hours to the exchanges on Wednesday. Read more. 

Share Market Update: Open interest Guide (January 24, 2019)

Published on: 8:40 am

  • Indian equities are expected to open higher amidst positive global cues.
  • Tracking the global cues, major Asian indices are trading with a positive bias with the US indices closing in positive territory leading to a possible positive opening for the Indian equities. Read more. 

Current FII data

Published on: 8:25 am

FII/DII Data:  In yesterday’s trading session, FIIs sold 775cr stock in the cash market, whereas DIIs bought 583cr worth of stock. In the derivative market, FIIs sold 314cr of Index futures and sold 796cr worth of Index options. In the Stock futures segment, FIIs sold 166cr worth of stock futures and sold 263cr stock options.

FII View: FIIs reduced their bullish positions in the derivative segment, which is deduced by the fact that they reduced 5270 long contracts in Index Futures while simultaneously creating 9341 short contracts in Index Call Options. The long-short ratio in Index Futures currently stands at 0.8x.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 218 (2) 48 0.8 0.8
Index Short 258 (1) 78
Index Call Long 227 (1) 71 2.7 0.7
Index Call Short 85 12 159
Index Put Long 443 6 97 2.1 0.6
Index Put Short 208 14 239

Markets to open slightly positive ahead of weekly Bank Nifty expiry

Published on: 8:24 am

  • SGX Nifty is at 10865, up 24 points. For today, we expect more earnings to dictate the short term trend; however, the appointment of Piyush Goyal as interim Finance Minister may see sentiment improve as he is pro-market and could see better news in the interim budget.
  • On Wednesday, Nifty saw a very volatile session after the strong rally it lost steam in last hour to close sharply lower, as foreign investors turned sellers.
  • FMCG, PSU banks, and financial services stocks took a beating as the Nifty saw ITC lead the fall after results fell below estimates as margins declined. Read more.

Top stocks in focus: Yes Bank, UltraTech, Dena Bank, Persistent Systems

Published on: 8:09 am

  • Moody’s upgraded IDBI Bank’s ratings across various instruments in view of significant capital infusion by LIC.
  • The long-term local and foreign currency ratings have been upgraded by three notches to ‘Ba2’ from ‘B1’.Read more. 

Broker Radar for January 24

Published on: 8:07 am

CLSA maintained ‘Outperform’ on Bharti Infratel with a TP of Rs315.
  • December quarter results were ahead of estimates; cost controls support margins.
  • Rise in rent per operator driving revenue surprise.
  • Expect tenancy growth to return. Read more.

Derivative Watch

Published on: 7:55 am

  • Nifty future saw an addition in open interest, consisting mainly of short positions.
  • On the options front, marginal short covering was witnessed in at-the-money and out-of-the-money put option strikes with 10900PE and 10700PE witnessing a reduction of ~2.49 lakh shares and ~2.94 lakh shares, respectively.
  • Oracle Financial Services Software Ltd witnessed an addition of fresh long positions, while ICICI Prudential witnessed short buildup in yesterday's trade. 

Piyush Goyal gets additional charge of ministry of finance, corporate affairs

Published on: 7:55 am

  • Piyush Goyal has been named the interim Finance Minister and interim Minister of Corporate Affairs during Arun Jaitley's indisposition.
  • Goyal is likely to present the interim Budget on February 01. Read more. 

What not to miss today

Published on: 7:51 am

  • Markets to open marginally positive ahead of weekly Bank Nifty expiry; Nifty support @10790, resistance 10930.
  • FIIs sold 775cr (cash), 314cr in Index Futures.
  • Rupee appreciates 11 paise to 71.33/$.
  • US shares trade up on strong earnings; Asian mixed.
  • Piyush Goyal named interim Finance Minister due to Arun Jaitley’s indisposition. Read more.

Bulk deal

Published on: 7:47 am

  • Bhagwati Banquets: Arpit Agarwal HUF sold 1.50 lakh shares of the company at Rs17.85 per share.
  • Pitti Engineering: Amit Kumar Agarwal bought 1.50 lakh shares of the company at Rs56.16 per share.
  • Punj Lloyd: IFCI continued to offload shares of the company, selling another 18.13 lakh shares at Rs3.5 per share.
  • Vivimed Labs: Competent Finlease Private Limited sold 5 lakh shares of the company at Rs25.01 per share.

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