Latest news and updates

29th Jan, 2019

Nifty settles below 10,700 mark; Eicher, GAIL stocks slip

Published on: 3:34 pm

  • Equity benchmark indices erased afternoon losses and with the Nifty settled above 10,650 level.
  • Adani Ports, Bharti Infratel, and Bajaj Finserv were the top gainers on the Nifty50, while Eicher Motors, GAIL, and Yes Bank are top losers.
  • The Sensex ended down 64 points at 35,592, while Nifty fell 9 points at 10,652. Around 847 shares have advanced, while 870 shares declined, and 347 shares are unchanged. 

Nifty trades below 10,650 mark; DHFL stock tanks 9%

Published on: 3:20 pm

  • Equity benchmark indices were trading lower in the last hour of trading session.
  • Shares of DHFL extended decline for the second consecutive session. In the last two trading sessions, the stock has fallen 19%.
  • The Sensex fell 65 points to 35,592, while the Nifty was down 12 points at 10,649 levels.

Bajaj Finance Ltd's Q3FY19 consolidated net profit rises 53.6% yoy to Rs1,060cr

Published on: 3:16 pm

  • Bajaj Finance Ltd's Q3FY19 consolidated NII has come at Rs3,094cr, which has improved by 46% yoy. Its consolidated net profit for Q3FY19 beat consensus estimates by 6%, which came at Rs1,060cr against Rs690cr, which is up by 53.6% yoy.
  • Its GNPA has increased by 6bps qoq to 1.55% and NNPA has increased by 9bps qoq to 0.62% respectively. Read more

HDFC Ltd's Q3FY19 standalone net profit rises 6.22% yoy to Rs2,113.80cr

Published on: 3:01 pm

  • HDFC LTD’sQ3FY19 NII grew by 9% yoy to Rs3,192cr against Rs2,929cr in Q3FY18. It has reported NIM at 3.5% for the quarter, which is flat qoq.
  • The housing finance company’s net profit was above consensus estimates by 4%, an improvement of 6.2% yoy to Rs2,113.8cr.  Its GNPA for Q3FY19 stood at 1.22%, up by 9bps qoq. Read more

Kansai Nerolac Paints Ltd's Q3FY19 standalone net profit declines 9.9% yoy to Rs112.7cr

Published on: 2:46 pm

  • Kansai Nerolac Paints (KNPL) reported a weak set of numbers for Q3FY19 on profitability fronts. Revenue for the company was up 18.0% yoy to Rs1,350.7cr, in-line with our estimate. However, on account of higher raw material costs, the gross margin contracted 551bps yoy to 34.5%. 
  • EBITDA margin declined 369bps yoy to 13.1% (vs. estimate of 14.0%). PAT fell 9.9% yoy to Rs112.7cr, ~4% lower than the estimate. Read more

Praj Industries stock rallies 13% after robust Q3FY19 numbers

Published on: 2:41 pm

  • Shares of Praj Industries rose 13% on the BSE in the afternoon session. The company reported a three-fold jump in its net profit at Rs22.4cr in the December quarter. It had posted profit of Rs7.5cr in the same quarter last fiscal.
  • Its EBDITA margin improved to 8.4% from 6.7% on a yoy basis. The company said it is making healthy progress on the execution of the first batch of 2nd Gen BioRefineries, contracted by major oil marketing companies. Read more

Info Edge (India) Ltd's Q3FY19 standalone net profit declines 4.8% qoq to Rs74cr

Published on: 2:14 pm

  • Info Edge's numbers for Q3FY19 were below expectations on EBITDA and PAT fronts. Revenue grew by 23.7% yoy and 6.1% qoq to Rs281cr against median consensus estimate of Rs269cr.
  • EBITDA came in at Rs83cr, down 6.2% yoy but up 0.9% qoq, against median consensus estimate of Rs86cr. Read more

The Ramco Cements Ltd's Q3FY19 standalone net profit declines 17.7% yoy to Rs101.1cr

Published on: 2:05 pm

  • The Ramco Cements (TRCL) reported poor set of numbers on profitability fronts; revenue was in-line, however, PAT decline was lesser than estimated.
  • Revenue for the quarter was up by 14.6% yoy to Rs1,210.4cr, in-line with estimates. Company witnessed significant jump in power and freight by 58.8% and 23.2% yoy leading to 9.1% yoy decline in EBITDA to Rs214.0cr (in-line with estimates). Read more

Strides Arcolab Ltd's Q3FY19 consolidated net profit declines 38.09% yoy to Rs30.83cr

Published on: 1:38 pm

  • Strides Pharma’s revenue grew by 6.1% yoy to Rs794.5cr in Q3FY19. EBITDA grew by 3.4% yoy to Rs127.1cr in Q3FY19 vs. Rs122.9cr in Q3FY18. EBITDA margins stood at 16% in Q3FY19 vs. 16.4% in Q3FY18 and 13.6% in Q2FY19.
  • Adj. PAT declined by 38.1% yoy to Rs30.8cr vs. Rs49.8cr in Q3FY18, however on sequential basis, PAT grew by 1.4x. Read more

Live share market update: Indices trade near low point of day

Published on: 1:24 pm

Indian equity markets were trending lower on Tuesday after trading sideways in the first half of the session. The Nifty is currently trading near its low point of the day and is down 70 points at 10,590, while Bank Nifty is 134 points lower at 26,522.

Among the sectoral indices, Nifty Private Bank and Nifty IT indices were the top losers and were trading 0.33% and 0.6% lower, respectively. Read more

Sensex slips over 200 points; Nifty holds 10,600 mark

Published on: 1:16 pm

  • Equity benchmark indices extended decline during Tuesday’s afternoon session.
  • The Sensex fell 257 points to 35,399, while the Nifty was down 61 points at 10,600 levels. The market breadth was negative with 655 shares advancing, 762 shares declining, and 59 remaining unchanged on the BSE.
  • Adani Ports, Infratel, and Sun Pharma were the top gainers on the Nifty50, while Indiabulls HF, Eicher, and Yes Bank were trading in the red.

Nifty PSU Bank gains 2%; BoB up 4% ahead of Q3 results

Published on: 12:56 pm

  • The Nifty PSU Bank index gained 2% on Tuesday amid heavy buying in stocks of Bank of India, Canara Bank, Bank of Baroda, and IDBI Bank.
  • Shares of Bank of India gained 7% and was the top gainer on the index, while shares of Canara Bank also contributed to the gains by rising 5%.  PNB, Syndicate, and Union Bank also rose 3% each. Read more

Sensex, Nifty rangebound; Adani Ports, Sun Pharma stocks gain

Published on: 12:03 pm

  • Equity benchmark indices were trading lower on Tuesday tracking waek global cues.
  • NBFCs stocks were trading lower led by Indiabulls Housing Finance Ltd and Dewan Housing Finance Corp.
  • The Sensex was down 73 points to 35,584, while the Nifty was slightly down by 12 points at 10,649 levels. The market breadth was narrow with 771 shares advancing, 856 shares declining, and 435 remaining unchanged on the BSE.

CEAT, RBL decline, Bank of India gains post Q3FY19 results

Published on: 11:53 am

  • Shares of CEAT slipped ~1% in intraday trade on Tuesday as the company posted a 36% decline in PAT in Q3FY19.
  • Higher raw material costs and operating expenses put pressure on operating performance, leading to a 24% yoy dip (10% qoq dip) in consolidated EBITDA. At Rs143cr, the consolidated EBITDA was lower than street expectation of Rs163cr. Read more.
  • RBL Bank also lost 2% during trading hours on Tuesday despite posting a 36% increase in net profits. Read more

Chalet Hotels sets price band at Rs275-280 per; IPO opens today

Published on: 11:38 am

  • Chalet Hotels Ltd (the Company), an owner, developer and asset manager of high-end hotels in key metro cities in India, allotted 1.75 lakh equity shares at Rs280 per equity share (upper end of the Price Band) aggregating to Rs492.35cr as part of the anchor investor allotment prior to opening of the IPO.
  • The company proposes to open its initial public offering (IPO) on January 29, 2019.  The Bid/Offer Period will close on January 31, 2019. Read more

Adani Power, Adani Ports stock recovers from yesterday’ losses

Published on: 10:47 am

  • Shares of Adani Power and Adani Ports recovered after witnessing heavy selling pressure in yesterday's session.
  • The company has clarified on the BSE that there is no pending information to be made and fluctuations in the share price seem market driven.
  • Adani Ports stock is among top Nifty gainers in today’s session. Read more

Asian markets trade lower; Taiwan index dropped 1%

Published on: 10:25 am

  • Asian markets were trading lower on Tuesday following weak close in US market overnight.
  • Meanwhile, the US Justice Department unsealed criminal charges against China’s Huawei, its subsidiaries and a top executive ahead of trade talks has also impacted the stock market today. Read more. 

Nifty below 10,700 mark; Persistent Systems stock rises 3%

Published on: 10:15 am

  • Equity benchmark indices opened lower on Tuesday’s trade ahead of this week's derivative contracts' expiry and the interim budget.
  • The Sensex was down 56 points to 35,600, while the Nifty was slightly down by 7 points at 10,654 levels. Read more. 

Persistent Systems stock spurts 3% post Q3 numbers; announces Rs225cr buyback

Published on: 10:06 am

  • Shares of Persistent Systems rose 3% on the BSE in the early morning trade after its board has approved buyback of equity shares for an aggregate amount not exceeding Rs225cr at price not exceeding Rs750 per share.
  • The IT Consulting company’s PAT grew by 4.1% qoq to Rs91.7cr against estimate of Rs90cr. Read more. 

Important results today: Axis Bank, HCL Tech, HDFC, Bajaj Finance, Bank of Baroda

Published on: 9:10 am

  • Quarterly results that are expected today include Axis Bank, HCL Technologies, HDFC, Bajaj Finance, Bajaj Finserv, Bank of Baroda, Oriental Bank of Commerce, Mahanagar Gas, Bharat Financial Inclusion.
  • Here is the street expectation for the companies: Read more. 

KNR Constructions to sell subsidiary to Cube Highways

Published on: 8:52 am

  • KNR Constructions has entered into share purchase agreement with Cube Highways and Infrastructure III to sell KNR Srirangam Infra Private Limited, a subsidiary of KNR Constructions.
  • Pursuant to which the company will, in a phased manner, sell to Cube Highways its entire shareholding in KNR Srirangam. Read more. 

Share Market Update: 10 Stocks that have added bearish positions as January expiry nears

Published on: 8:43 am

  • Indian equities are expected to open lower amidst negative global cues.
  • Tracking the global cues all the Asian indices along the US indices have witnessed a downward momentum since the start of this week, hinting a follow-up action by the Indian equities getting into today's trade. Read more. 

Axis Bank Q3FY19E Result Expectation

Published on: 8:35 am

Axis Bank Consensus Expectations for Q3FY19E
  • NII – Rs5,283cr, up 11.7% yoy due to 12% credit growth expectation.
  • PPOP – Rs4,337cr, up 12.5% yoy due to slightly higher NII.
  • PAT – Rs1,435cr, up 97.6% yoy, due to a fall in provisions Read more

ICICI Bank Q3FY19E Result Expectation

Published on: 8:34 am

ICICI Bank Consensus expectations for Q3FY19E:
  • Net interest income – Rs6,819cr, up 19.5% yoy and 6.3% qoq
  • Pre-provision profit – Rs6,283cr, up 24.2% yoy and 19.7% qoq
  • PAT – Rs1,794cr, up 8.7% yoy and 97.4% qoq Read more

Bajaj Finance Q3FY19E Result Expectation

Published on: 8:33 am

Bajaj Finance Consensus expectations for Q3FY19E:
  • Net interest income – Rs2,924cr, up 23.4% yoy and 7.1% qoq
  • Pre-provision profit – Rs1,825cr, up 28.2% yoy and 4.3% qoq
  • Loan-loss provisions – Rs347cr, up 40.4% yoy and 10.1% qoq
  • PAT – Rs961cr, up 25.3% yoy and 4% qoq Read more

Tata Power Company Ltd's Q3FY19 consolidated net profit declines 40.8% yoy to Rs205cr

Published on: 8:23 am

  • Tata Power missed estimates for Q3FY19 as EBITDA was impacted by operating losses at Mundra as well as higher interest costs.
  • Revenue grew by 16.4% yoy to Rs7,571cr (expectation Rs7,768cr). EBITDA stood at Rs1,480cr, up 3.9% yoy against estimates of Rs1,669cr. EBIDTA margin fell by 235bps yoy to 19.6%. Net Profit stood at Rs205cr against an expectation of Rs502cr. Read more

Broker Radar for January 29

Published on: 8:22 am

CLSA maintained ‘Buy’ on Persistent Systems; cut TP to Rs700 from Rs780.
  • Mixed revenue performance: Alliance & services weak but digital bounces back.
  • Margin surprises positively, but gains will have to be reinvested.
  • Buy due to a cheap valuation and buyback.
CLSA maintained ‘Buy’ on Tata Power; cut TP to Rs90 from Rs96.
  • December quarter’s core EBITDA fell due to domestic market obligation.
  • Indonesian coal spread collapses 39%; highest contraction in 13 quarters.
  • December quarter was one of its weakest quarters, but this could mark the bottom for several reasons. Read more

Shriram Transport Finance Company Ltd's Q3FY19 standalone net profit rises 17.2% yoy to Rs635.50cr :

Published on: 8:08 am

  • Shriram Transport Finance Ltd's net interest income (NII) for Q3FY19 came in at Rs2,026.9cr as against Rs1,745.5cr last year, an improvement of 16.3% yoy.
  • Its net profit for the quarter came in at Rs635.5cr against Rs541.5cr last year, up 17.2% yoy and in line with the consensus estimates. Read more

Markets to open on a negative note, focus to remain on HDFC, Axis Bank, ahead of Q3 numbers

Published on: 8:06 am

  • SGX Nifty is at 10,667, down 20 points. 
  • For today, expect early weakness to persist, however second half pull back seems on the cards as both foreign & local institutions turn buyers with fall in oil adding comfort to the rupee. Read more. 

Top stocks in focus: Persistent Systems, Mindtree, Axis Bank, HCL Tech, HDFC

Published on: 8:02 am

  • Persistent Systems board approved buyback of up to 30 lakh shares or 3.75% equity at Rs750 per share aggregating to Rs225cr.
  • Mindtree and Coffee Day Ent stock in focus as Income Tax department attached Siddhartha's and Coffee Day's shares, amounting to 4.5% of Mindtree, citing potential claims on an ongoing assessment, as per media reports.
  • Syndicate Bank determined the issue price of Rs37.75 per share in respect of preferential issue aggregating to Rs728cr to Promoter-Government of India. The bank says that at the determined issue price it can allot up to 43.2cr shares against a capital infusion of Rs1,632cr. With these actions, Government of India’s stake in the bank will increase from 76.16% to 81.23%. Read more

Persistent Systems Ltd's Q3FY19 consolidated net profit rises 4.06% qoq to Rs91.72 cr

Published on: 7:55 am

  • Persistent Systems reported broadly in-line set of numbers for Q3FY19. The revenue grew by 3.4% qoq to Rs864cr, which is in-line with the estimate of Rs863cr. The USD revenue increased by 2.2% qoq to USD120.8mn.
  • EBIT for the quarter came in at Rs106.6cr, up 2.7% qoq, against the estimate of Rs108cr. Read more

HCL Tech Q3FY19E Result Expectation

Published on: 7:52 am

HCL Tech Consensus expectations for Q3FY19E:
  • Revenue – Rs15,515cr, up by 5.5% qoq on account of higher contribution from Products/IPs (favourable seasonality), large deal wins in past and contribution from HDI acquisition.
  • EBIT – Rs3,119cr, up by 6.6% qoq.
  • EBIT Margin – 20.1%, up 21bps qoq on the back of revenue growth and seasonal strength in high margin IP practice.
  • PAT – Rs2,553cr, up by 2.1% qoq. Read more

Bulk deal

Published on: 7:42 am

  • Zee Entertainment Enterprises: DVI Fund Mauritius bought 89.69 lakh shares of the company at Rs343.05 per share on the NSE.
  • Sadbhav Engineering: Shantaben Vishnubhai Patel bought 9.52 lakh shares of the company at Rs190 per share on the NSE.
  • Sentinel Tea and Exports: Castor Investments Limited purchased 96,269 shares of the company at Rs105.81 per shares on the NSE.

FII and DII Data

Published on: 7:35 am

FII/DII Data: In yesterday’s trading session FIIs bought 223cr stock in the cash market whereas DIIs bought 92cr worth of stock. In the derivative market, FIIs bought 417cr of Index futures and sold 727cr worth of Index options. In the Stock futures segment, FIIs sold 460cr worth of stock futures and sold 168cr stock options.

FII View: FIIs created their bullish positions in Index Futures which is deduced by the fact that they created 4,200 long contracts, while simultaneously reducing 8,593 short contracts in the segment. However, considering the volatility in the market they also created 22,595 long contracts in Index Put Options.

% Chg % Chg
Since Expiry
Short Ratio
 Since Expiry
Index Long 231 2 57 0.9 0.9
Index Short 246 (3) 70
Index Call Long 218 (2) 65 1.9 0.5
Index Call Short 115 28 248
Index Put Long 460 5 105 2.1 0.6
Index Put Short 214 3 250

What not to miss today

Published on: 7:31 am

-Markets to open on a negative note, focus to remain on ICICI & Axis Bank, ahead of Q3 numbers.
-Nifty support @10600, resistance 10750.
-FIIs bought 223cr (cash), 417cr in Index Future.
-US market falls over 200 pts on weak earnings, China woes; Asian follows suit. Read more

Derivative Watch

Published on: 7:12 am

  • Nifty ATM & OTM put options saw unwinding of short positions, hinting a possible downside upto the 10500 level during the January series.
  • PCR of Bank Nifty 27500 strike witnessed a sharp drop, hinting an expiry for the index below 27500 level.
  • Infratel added long positions while PEL added fresh short positions.

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Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.