Latest update and news

28th Jan, 2019

Markets witness carnage; Nifty plummets 119 points lower

Published on: 3:56 pm

  • Bears took total control in today's trade with benchmark indices witnessed heavy selling pressure and ending the day firmly in red. Nifty and Bank Nifty ended the day 1.1% and 1.7% lower, respectively.
  • The Nifty plunged below its 200-DEMA support levels in intraday trade, which accentuated the selling pressure in the markets. Read more

Nifty settles below 10,700-mark; Media index gains 8%

Published on: 3:43 pm

  • Equity benchmark indices ended in the red on Monday with the Sensex slumped 369 points at 35,656 levels. Nifty also ended 119 points down at 10,661 levels, well below 10,700 levels.
  • Among stocks, Zee Entertainment, Coal India, Infratel, TCS, and L&T gained the most. Adani Ports, Bajaj Finance, Yes Bank, and Bajaj Finserv were the biggest losers.
  • All sectoral indices on the NSE were in the red except Nifty Media and IT indices gained 8% and 0.5%, respectively. Nifty Pharma and Private Bank slipped 3% and 2% down, respectively.
  • Market breadth was negative on the NSE with 1,375 shares declining, 363 shares advancing, while 339 remaining unchanged.

NBCC bags order worth Rs228cr

Published on: 3:39 pm

  • Navratna PSU NBCC, under the Ministry of Housing and Urban Affairs (MoHUA), has bagged an order of Rs228cr for the redevelopment of World Health Organisation (WHO) – SEARO building in New Delhi.
  • NBCC has been awarded the work as project management consultant (PMC) for the construction and redevelopment of the building. NBCC will be responsible for the design, construction, and procurement of the project. Read more

Berger Paint approves acquisition of Saboo Hesse Wood Coatings

Published on: 3:08 pm

  • Berger Paints, in a press note on Monday, informed that the company’s board has granted its approval for the acquisition of 51% stake in Saboo Hesse Wood Coatings.
  • "The acquisition is subject to limited due diligence and approval of the Reserve Bank of India if required," the company informed.
  • Meanwhile, the balance 49% in Saboo Hesse Wood Coatings is held by Hesse Shares GmbH of Germany. Read more

Jet Airways seeks shareholders’ approval to convert loan into shares; stock declines 2%

Published on: 2:59 pm

  • Shares of Jet Airways were trading ~2% down on Monday after the company sought approval from shareholders for converting existing debt into shares or convertible instruments.
  • At a shareholder meeting scheduled for Feb 21, the airline will also seek approval for their lenders to appoint a nominee director to the board, the debt-laden company said in a press note on Monday to the exchanges. Read more

Nifty Pharma slips 2.5% led by Piramal Enterprises, Aurobindo Pharma

Published on: 2:27 pm

RBL Bank slips 3% post Q3FY19 numbers

Published on: 2:21 pm

  • Shares of RBL Bank slumped 3% on Monday despite the company’s Q3FY19 earnings numbers coming in line with estimates.
  • RBL Bank’s Q3FY19 NII has improved by 40.2% yoy to Rs655.1cr against Rs467.3cr. The bank’s net profit was in line estimates, a rise of 36.2% yoy to Rs225.2cr.
  • Further, its GNPA for Q3FY19 was at 1.38% vs. 1.4% qoq. NNPA for the quarter came in at 0.72% against 0.74% qoq, a decline of 2bps. Read more 

RBL Bank Ltd's Q3FY19 standalone net profit rises 36.2% yoy to Rs225.2cr: In-line with Estimates

Published on: 2:10 pm

  • RBL Bank’s Q3FY19 NII has improved by 40.2% yoy to Rs655.1cr against Rs467.3cr.
  • The bank’s net profit was in line estimates, a rise of 36.2% yoy to Rs225.2cr.
  • Its GNPA for Q3FY19 was at 1.38% vs. 1.4% qoq.
  • NNPA for the quarter came in at 0.72% against 0.74% qoq, a decline of 2bps. Read more

Godrej Properties Ltd consolidated net profit of Rs41.83cr in Q3FY19 vs. net loss of Rs54.75cr in Q3

Published on: 1:15 pm

  • Godrej Properties Ltd's consolidated numbers in Q3FY19 missed the street estimates by a large margin on revenue, EBITDA, and net profit fronts.
  • Revenues witnessed a strong growth of 27% yoy to Rs340.06cr as against Rs267.43cr in Q3FY18, missing the consensus estimates by 25%.
  • The company reduced EBITDA loss from Rs60.49cr in Q3FY18 to Rs38.73cr in Q3FY19. Read more

City Union Bank's Q3FY19 standalone net profit rises 15.1% yoy to Rs178.1cr

Published on: 12:56 pm

  • City Union Bank's net interest income (NII) for Q3FY19 came in at Rs417.7cr, a growth of 14.4% yoy.
  • The bank has reported a net profit of Rs178cr, up 15.1% yoy as against Rs155cr reported last year, and also in line with consensus estimates.
  • Its GNPA for the third quarter ended December 2018 stood at 2.91% against 2.85% qoq, an increase of 6bps qoq.
  • NNPA for the quarter was up 5bps to 1.74%. Read more

Nifty below 10,700-mark; Media stocks gain 4%

Published on: 12:28 pm

  • Equity benchmark indices were trading in the red with the Sensex slumping 300 points at 35,723 levels. Nifty also dropped 99 points to trade at 10,681 levels, well below its key level of 10,700.
  • All sectoral indices were trading the red on the NSE except Nifty Media and IT indices, which were up 4% and 0.2%, respectively. Further, Nifty Bank, Auto, and Pharma indices were trading 2% down, each.
  • Among stocks, Zee Entertainment, Infratel, L&T, Wipro, and TCS gained the most on the NSE. Conversely, Adani Ports, Indiabulls Housing Finance, ICICI Bank, UltraTech Cement, and Yes Bank were the biggest losers.

L&T gains ~2% as Q3FY19 numbers beat estimates

Published on: 12:06 pm

  • Shares of Larsen & Toubro (L&T) gained 2% on Monday after the company's Q3FY19 numbers beat investor estimates.
  • The company's consolidated revenue in the quarter increased 24.2% yoy to Rs35,708.87cr against Rs28,747.45cr in Q3FY18, beating the estimates by 8%. EBITDA for the quarter grew 27.2% yoy to Rs3,996.31cr against Rs3,141.26cr, 9% ahead of the consensus estimates. EBITDA margin expanded 26bps yoy to 11.2%. Net profit for the quarter jumped 37% yoy to Rs2,041.62cr vs. Rs1,489.98cr in the corresponding quarter last year, beating the consensus estimate by 8%. Read more

Nifty Media surges 4%, Zee Ent, Sun TV, TV Today lead rally

Published on: 11:43 am

  • The Nifty Media index surged 4% on Monday amid sharp recovery in the shares of Zee Entertainment. Shares of Zee Entertainment, which surged 9%, were leading the index’s gain.
  • The Zee Entertainment stock witnessed a recovery after its promoter informed that the management has reached an understanding with lenders having a pledge on Zee Group's promoters’ stake that "a steep decline in the shares of group companies will not lead to a default".
  • Sun TVTV Today, and PVR also contributed to gain, rising 1% each.
  • Notably, Zee MediaDish TV, and Eros Media plunged 19%, 5%, and 3%, respectively. Read more

USFDA issues 6 observations to Indoco's Goa plant

Published on: 11:40 am

  • The US Food and Drug Administration (USFDA) started inspection at Indoco’s Goa Plant I (Oral Dosages Facility) on 17th January, 2019 and concluded on 25th January, 2019. The regulatory body issued 6 observations (483s) to the site. The company made the announcement via an exchange filing on Monday morning. Yet, shares of the company gained ~1% in intraday trade today. Read more

Tata Steel’s arm to divest majority stake in South East Asia; stock declines 2%

Published on: 11:28 am

  • Tata Steel in its press note to the exchanges on Monday informed that its step-down subsidiary TS Global Holdings Pte Ltd will divest its entire equity stake in NatSteel Holdings Pte Ltd (NSH) and Tata Steel (Thailand) Public Company Ltd (TSTH). Reacting to this, shares of Tata Steel dropped 2% on the BSE. Read more

Coffee Day slips 4% despite clarifying on income tax dues

Published on: 11:05 am

  • Shares of Coffee Day slumped 4% on Monday despite the company clarifying that it would take the required action in the next few days to get a portion of IT firm Mindtree's shares, owned by the company and its promoter VG Siddhartha, released by the Income Tax Department.
  • Further, there is no tax liability payable by the company and its subsidiaries as per the revised returns filed, Coffee Day said in a press note to the exchanges on Saturday. Read more

NATCO launches Valsartan-Sacubitril tablet in India

Published on: 10:50 am

  • Natco Pharma Limited announced that it has launched Valsartan-Sacubitril tablet at an affordable price, under its brand VALSAC.
  • Valsartan-Sacubitril is a combination drug used for certain types of heart failure, and works by relaxing blood vessels, making it easier for the heart to pump blood to the body.
  • NATCO has launched VALSAC in 50 mg and 100 mg strengths at an MRP of Rs45 and Rs55.0, per tablet, respectively. Read more

Lupin declines 1% after USFDA closes Pithampur unit inspection with 6 observations

Published on: 10:41 am

  • Shares of Lupin slipped 1% after the United States Food and Drug Administration (USFDA) issued 6 observations on completion of an inspection at its Pithampur Unit-2 (Indore) facility.
  • The inspection was carried out between January 14 and January 25, 2019. Read more. 

Ashoka Buildcon receives arbitration award from NHAI

Published on: 10:27 am

  • Ashoka Buildcon informed in an exchange filing that Ashoka Highways, a subsidiary of Ashoka Concessions Limited, has received an arbitration award aggregating to Rs168.01cr inclusive of interest till date and declaratory award against various claims filed by SPV before National Highways Authority of India (NHAI).
  • The company made the announcement on Monday morning. Despite the news, shares of the company slipped ~1% in early morning trade. Read more

McNally Bharat Engineering wins order worth Rs72.6cr

Published on: 9:46 am

  • McNally Bharat Engineering Company has received an order from ESR Warehousing. The scope of work includes filling, civil, and infrastructure works at Chandipur village in Howrah district, West Bengal.
  • The total cost of the project is worth Rs72.6cr. The company made the announcement in a BSE press release on Friday evening post market hours. Despite the news, shares of the company were down ~1% in early morning trade on Monday. Read more

Nifty below 10,800-mark; Zee Entertainment surges 12%

Published on: 9:39 am

  • Equity benchmark indices started the week on a mixed note with Sensex trading 24 points up at 36,049 levels. However, the Nifty declined 6 points at 10,774 levels, well below its key level of 10,800.
  • Shares of Zee Entertainment, which plunged ~30% on Friday, stemmed the fall in Nifty by gaining 12%. The company’s share witnessed recovery after its promoter in a press note informed that the management has reached an understanding with lenders having a pledge on Zee Group promoters’ stake that a steep decline in the shares of group companies will not lead to a default.
  • Further, among stocks, L&TWiproTCS, and Asian Paints were the top gainers on the NSE. Conversely, Adani PortsBajaj AutoPower GridICICI Bank, and UltraTech Cement lost the most. Read more

Zee Ent’s Promoters: Reached understanding with lenders on pledged shares

Published on: 9:28 am

  • Zee Entertainment Enterprises, in a press note to the exchanges, informed that the management has reached an understanding with lenders having a pledge on Zee Group promoters’ stake that a steep decline in the shares of group companies will not lead to a default. The announcement made on Sunday.
  • The company informed that it has met heads of non-bank lenders, chief investment officers of mutual funds and bank representatives to allay concerns after shares of group entities tumbled, eroding Rs14,000cr in market value on Friday. That came after a media report said that Essel Group's name emerged in a probe linked to large deposits made after demonetisation. Read more

Share Market Update: 5 Stocks in which volatility levels are soaring high

Published on: 8:55 am

Historical Volatility 
 
  • Historical volatility is a measure of how much the stock price fluctuated during a given time period (in past). It is referred to as the asset's actual or realized volatility.
  • Traders make use of historical volatility to estimate the future movement, but there is a chance that the future volatility could deviate from the expected value as the factors influencing the price could change. Major fundamental changes could cause the asset price to stray away from the expected historical volatility. Read more

Dr Reddy’s receives USFDA approval for TOSYMRA

Published on: 8:42 am

  • Dr Reddy’s Laboratories and its subsidiary, Promius Pharma, LLC received approval from the USFDA for TOSYMRA, previously known as DFN-02, the company said in a press note to the exchanges on Monday.
  • The drug is indicated for the acute treatment of migraine with or without aura in adults. "TOSYMRA is the latest product to join the Promius Pharma acute migraine treatment portfolio. The company is working towards commercialization of this product," Dr Reddy’s informed in the press note. Read more

Top stocks in focus: Zee Ent, Lupin, Emami, Zydus Wellness

Published on: 8:19 am

  • Zee Entertainment Enterprises promoters say reached understanding with lenders on pledged shares.
  • Reliance Industries' Jio may join the race to pick stake in Subhash Chandra's Zee Entertainment. The company's board approved transferring fibre and tower businesses into two separate companies.
  • USFDA completes inspection, raises 6 observations for Lupin’s Pithampur Unit-2 (Indore) facility. Read more.

SGX Nifty indicates a marginally positive opening for the Indian market

Published on: 8:18 am

  • SGX Nifty is at 10,807 points, up 13 points. For today, expect more color from the expectations of the US-China trade talks, which could see more traction on the upside.
  • Nifty saw a volatile session on Friday as second half sell-off saw gains turn into losses as select group stocks of Essel Group & DLF saw news based sell-off. This saw marker sentiment turn cautious as investors booked gains.
  • Foreign investors turned very positive & bought large-cap stocks as global rally & earnings improvement enthused bullish signs. For today, expect a cautious start in the morning session turning into more bullishness in the second half as buyers return. Read more.

Current FII data

Published on: 8:16 am

FII/DII Data: In Friday’s trading session, FIIs bought 689cr stock in the cash market, whereas DIIs sold 147cr worth of stock. In the derivative market, FIIs bought 1209cr of Index futures and bought 434cr worth of Index options. In the Stock futures segment, FIIs sold 294cr worth of stock futures and sold 325cr stock options.

FII View: FIIs created their bullish positions in Index Futures, which is deduced by the fact that they created 10198 long contracts, while simultaneously reducing 5822 short contracts in the segment. However, considering the volatility in the market they also created 8063 long contracts in Index Put Options.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 227 5 54 0.9 0.9
Index Short 255 (2) 76
Index Call Long 223 1 68 2.5 0.6
Index Call Short 90 5 172
Index Put Long 437 2 95 2.1 0.6
Index Put Short 208 1 240

What not to miss today

Published on: 7:51 am

  • Markets to open higher; volatility to persist; Nifty support @10730, resistance 10875.
  • FIIs purchased 689cr (cash), 1209cr in Index Futures.
  • Asian markets trade cautiously; focus on US-China trade talks.
  • Finance minister Piyush Goyal to meet heads of PSU banks today.
  • Coffee Day will take 'required action' to get attached Mindtree shares released by IT dept. Read more.

Derivative Watch

Published on: 7:25 am

  • Nifty and Bank Nifty future added fresh short buildup as the indices continued to witness selling pressure at higher levels.
  • On the options front, short positions were built in out-of-the-money call option strikes with 10900CE witnessing an addition of ~7.5 lakh shares of open interest.
  • Zee Ent. & Dish TV saw massive short buildup with both the stocks tumbling ~30% during the trade. 

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