Latest news and updates

30th Jan, 2019

Nifty settles above 10,650-mark; Media, PSU Bank, Metal indices up 2%

Published on: 3:51 pm

  • Equity benchmark indices ended Wednesday on a flat note with the Sensex closing 1 point down at 35,591 levels. Nifty settled above 10,650 levels.
  • Among stocks, ICICI Bank, Tata Steel (+6%), Axis Bank (+5%), Hindalco, and HCL Tech (+3%) were the biggest gainers. Conversely, Indiabulls Housing Finance (-5%), Adani Ports, Bajaj Auto, Kotak Bank (-3%), and Infratel (-2%) lost the most.
  • All sectoral indices ended on a mixed note on the NSE. Nifty Media, PSU Bank, and Metal indices ended 2% high, while Nifty FMCG and Realty ended 1% down each.
  • Market breadth was positive on the NSE with 961 shares advancing, 770 shares declining, while 331 remaining unchanged.

HEG announces date for share buyback; stock surges 10%

Published on: 3:47 pm

  • Shares of HEG Ltd rallied 10% in intraday trade on Wednesday after the company set February 09 as the date for buyback of shares. 
  • HEG has a total capacity of 80,000 TPA of graphite electrodes (essential for making steel through EAF route) and controls ~11% of global capacity. The company has a stake in two thermal and one hydro co-generation power plants of 77MW. Exports contribute 65-70% to its sales. Read more

Coal India gains 1% as board to consider buyback proposal on Feb 4

Published on: 3:30 pm

  • Shares of Coal India were trading 1% higher on Wednesday after the company announced that its board would consider a buyback proposal on February 4, 2019.
  • Accordingly, the company’s board will approve buyback of the fully paid-up equity shares of the company having a face value of Rs 10 each, the company said in a press note to the exchanges on Wednesday. Read more. 

IOC, Bajaj Auto drop ~2% after Q3FY19 results

Published on: 3:13 pm

  • Shares of Indian Oil Corporation (IOC) dipped 2% in intraday trade on Wednesday after the company posted a weak set of numbers for Q3FY19.
  • The share prices fell to a low of Rs132.70 on the BSE after the oil major reported a 90% decline in PAT in Q3FY19. Read more. 

Vinati Organics Ltd's Q3FY19 standalone net profit rises 122.79% yoy to Rs70.68cr : Beats Estimates

Published on: 3:04 pm

  • Vinati Organics Ltd's revenue for Q3FY19 came in at Rs303.05cr, up 63.2% yoy.
  • The operating profit for the quarter came in at Rs106.44cr, which increased significantly by 113.6% yoy.
  • The EBITDA margin expanded by ~827bps yoy during the quarter to 35.1%. Read more

Security & Intelligence Services India Ltd's Q3FY19 consolidated net profit rises 34.9% qoq to R

Published on: 2:53 pm

  • Security and Intelligence Services (India) Ltd (SIS) reported a good set of numbers for Q3FY19. The top-line grew by 19.5% yoy and 8.7% qoq to Rs1,837cr vs. median consensus estimate of Rs1,809cr.
  • EBITDA came in at Rs98cr, up 16% yoy and 25.1% qoq against median consensus estimate of Rs95cr.
  • EBITDA margin contracted by 15bps yoy but expanded by 70bps qoq to 5.3%. Read more

Nifty Media, Metal indices climb 2%

Published on: 2:38 pm

  • The Nifty Media and Metal indices gained 2% each on Wednesday.
  • Shares of Dish TV, Zee Entertainment, DB Corp, INOX Leisure, and Sun TV led gains in the Media index, while heavy buying in Tata Steel, NMDC, Hindalco, and SAIL led the gain in the Metal index. Read more. 

Indian Oil Corporation Ltd's Q3FY19 standalone net profit declines 90.9% yoy to Rs716.82cr: Beats Es

Published on: 2:37 pm

  • Indian Oil Corporation Ltd's Q3FY19 results beat the estimates. The company's net revenue grew 26.5% yoy to Rs1,39,968.87cr against Rs1,10,677.8cr in Q3FY18, beating the estimates of Rs1,28,456cr.
  • EBITDA for the quarter declined 72.8% yoy to Rs3,610.09cr against Rs13,287.2cr last year, beating the estimates of Rs2,036cr.
  • EBITDA margin declined 943bps yoy to 2.6%. Read more

Bajaj Auto Ltd's Q3FY19 standalone net profit rises 16% yoy to Rs1,102cr : In-line with Estimates

Published on: 2:34 pm

  • Bajaj Auto Limited (BJAUT) reported in-line set of numbers in Q3FY19. Standalone revenue was Rs7,409cr (up 16% yoy, down 8% qoq), marginally higher than expectation of Rs7,361cr.
  • EBITDA came in at Rs1,156cr, down ~7% yoy and 15% qoq, matching expectation.
  • EBITDA margin contracted 396bps yoy (147bps qoq) to 15.6%. Read more

Jubilant Foodworks gains 3% post Q3FY19 numbers

Published on: 1:59 pm

  • Shares of Jubilant Foodworks gained 3% after the company reported strong set of numbers for the quarter, Q3FY19, ahead of estimates on the profitability fronts.
  • Revenue for the quarter clocked 16.8% yoy to Rs929.1cr, in-line with the estimate. Read more. 

Ducon Infratech soars 20% on announcing entry in mobile app space

Published on: 1:59 pm

  • Ducon lnfratechnologies stated in a BSE press release that it will enter the mobile application space.
  • Reacting to the news, shares of the company zoomed 20% during trading hours. Read more.

Nifty above 10,650-mark; Media, PSU Bank indices up 2%

Published on: 1:37 pm

  • Equity benchmark indices were volatile on Wednesday with the Sensex trading 87 points up at 35,679 levels. Nifty also rose 7% to trade at 10,659 levels, above its key level of 10,650.
  • All sectoral indices were in the green on the NSE except Nifty FMCG, Pharma, and Realty indices. Nifty Media and PSU Banks indices were trading ~2% each.
  • Among stocks, shares of Axis Bank, ICICI Bank, Tata Steel, Bajaj Finance, and Zee Entertainment were the biggest gainers. Conversely, Indiabulls Housing Finance, Infratel, HPCL, Adani Port, and JSW Steel lost the most.

Bajaj Finance gains 3% as Q3FY19 profit rises 53.6% yoy

Published on: 1:35 pm

  • Shares of Bajaj Finance were trading 3% higher on Wednesday as the company’s net profit for Q3FY19 beat the consensus estimates by 6%.
  • The company reported its net profit at Rs1,060cr against Rs690cr, up 53.6% yoy. Read more.

Jubilant Foodworks Ltd's Q3FY19 standalone net profit rises 46.2% yoy to Rs96.5cr : Beats Estimates

Published on: 1:35 pm

  • Jubilant FoodWorks reported strong set of numbers for quarter, Q3FY19, ahead of estimates on the profitability fronts.
  • Revenue for the quarter clocked 16.8% yoy to Rs929.1cr, in-line with the estimate. Read more. 

Live share market update: Markets trade rangebound, Nifty up 11 points

Published on: 1:08 pm

  • Indian equity markets were trading rangebound in afternoon trade on Wednesday.
  • The Nifty was trading 11 points lower at 10,673, while Bank Nifty was up 192 points at 26,848 led by a surge in PSU banking stocks. Read more. 

RPP Infra wins orders worth Rs252.9cr; stock gains 2%

Published on: 12:32 pm

  • RPP Infra won three orders worth Rs252.9cr on Wednesday. Reacting to this, shares of the company gained 2% on the BSE.
  • Of the total, an order worth Rs194.7cr has been received from the Tiruppur City Municipal Corporation for construction of 12 Elevated Service Reservoirs. The project is expected to be completed within 36 months, the company said in a press note on Wednesday. Read more

Bosch gains 2% ahead of buyback offer opening on Feb 6

Published on: 12:14 pm

  • Shares of Bosch gained 2% on Wednesday ahead of the company’s buyback offer which will open on February 6 and close on February 20.
  • The buyback is of 10.27 lakh equity shares of Rs10 each of the company at a price of Rs21,000 per equity share, the company informed in a press note after market hours to the exchanges on Tuesday.
  • The company has appointed Citigroup Global Markets as the manager and Karvy Fintech as the registrar of the buyback. Read more

Nifty Realty index drops 1% led by Unitech, DLF, Oberoi Realty

Published on: 12:03 pm

  • The Nifty Realty index dropped 1% on Wednesday on heavy selling in Unitech, DLF, Oberoi Realty, and Phoenix Mills.
  • Shares of Unitech, which dropped 3%, was leading index’s fall. Read more. 

Granules India up 4% as PAT rises 72% in Q3FY19

Published on: 11:30 am

  • Shares of Granules India were up 4% in early morning trade on Wednesday after the company, on Tuesday, announced robust results for the quarter ended December 2018.
  • The company’s revenue in Q3FY19 grew 53.8% yoy to Rs631.8cr vs. Rs410.7cr in Q3FY18, while PAT grew 72.3% yoy to Rs60.3cr in Q3FY19. Read more. 

Nifty below 10,650-mark; Realty, FMGC stocks drag

Published on: 11:27 am

  • Equity benchmark indices erased its early morning gains on Wednesday with the Sensex was trading 10 points down at 35,583 levels. Nifty dropped 18 points to trade at 10,634 level, well below its key level of 10,650.
  • All sectoral indices on the NSE were trading on a mixed note. Nifty Realty and FMCG indices were trading ~1% down each. Conversely, the Nifty PSU Bank index rose 1%.
  • Market breadth was positive on the NSE with 862 shares advancing, 781 shares declining, while 410 remaining unchanged.

Hero MotoCorp Q3FY19E Result Expectation

Published on: 11:05 am

Hero MotoCorp (HMCL) Q3FY19E result expectation:
  • Revenue: Rs7,663cr; (up 5% yoy, down 16% qoq).
  • HMCL will report revenue growth of 5% yoy (down 16% qoq), led almost entirely by volume growth (up 5% yoy, down 16% qoq). Read more. 

Fall continues! DHFL down 5% despite management clarification on fraud allegations

Published on: 10:57 am

  • Shares of DHFL dropped over 5% in morning trade today after investigative news portal Cobrapost claimed that the primary promoters of the housing finance firm had siphoned off more than Rs31,000cr of public money in one of the biggest financial scams.
  • The alleged scam was pulled off through loans and advances to shell companies. Read more. 

HG Infra gets financial closure date for road project from NHAI

Published on: 10:26 am

  • HG Infra shares were up ~1% in early morning trade on Wednesday as the company announced that Gurgaon Sohna Highway Private Limited, a wholly owned subsidiary of H.G. Infra Engineering Limited (Company) has received the financial closure letter from National Highway Authority of India for its project on NH-248A.
  • The last day of financial closure will be September 20, 2019. Read more. 

Axis Bank, HCL Tech gain post robust Q3FY19 numbers

Published on: 10:18 am

  • Shares of Axis Bank were trading 5% higher, while those of HCL Tech gained 2% on the BSE in Wednesday’s morning session post their respective earnings number for the third quarter of FY19.
  • Axis Bank’s net interest income in Q3FY19 was up 18.4% yoy to Rs5,604cr against Rs4,732cr. Read more. 

Nifty above 10,650 mark; HCL Tech jumps 3.5%

Published on: 9:45 am

  • Equity benchmark indices opened higher in Wednesday’s morning trade taking cues from Asian markets.
  • Investors await a number of events lined up for the week, including the FOMC meeting, US-China trade talks, Thursday's F&O expiry, and the all-important interim budget. Read more. 

Cyient gains 4% as board to consider buyback proposal on Feb 1

Published on: 9:40 am

  • Shares of Cyient were trading 4% higher on Wednesday after the company announced that its board would consider buyback proposal of the fully paid-up equity shares of the company on February 1, 2019.
  • "Further, pursuant to the company's code of conduct for Prohibition of Insider Trading, the trading window for transacting in the securities of the company would remain closed from 30 January to 3 February, 2019, both days inclusive," the company said in a press note after market hours to the exchanges on Tuesday. Read more. 

Important results today: ICICI Bank, Bajaj Auto, Indian Oil, NTPC

Published on: 9:34 am

  • Quarterly results that are expected today include ICICI Bank, Bajaj Auto, Indian Oil Corporation, NTPC, Alembic, Jubilant Foodworks, Jindal Stainless (Hisar), Tata Communications, JSW Energy, Ajanta Pharma, Hexaware Technologies. Read more

Asian shares down ahead of Fed policy meet outcome

Published on: 9:20 am

  • Equity benchmark indices were trading in the red in Asian markets as investors are waiting for an outcome of the Federal Reserve’s policy meeting due today.
  • As per Bloomberg report, shares in Japan and Hong Kong slipped, while those in Australia and South Korea gained.
  • Further, gains waned in American equity futures, having earlier been buoyed by Apple Inc.’s forecast that showed stability after a tough end to last year. Read more.

Sensex rallies over 170 points; Axis Bank, HCL Tech stocks gain 4%

Published on: 9:17 am

  • Equity benchmark indices opened higher on Wednesday’s morning trade taking cues from their Asian markets. 
  • The Sensex rose 166 points to 35,760, while the Nifty gained 40 points to 10,692.
  • Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, and ICICI Bank are among major gainers on the Nifty50, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, and Dr Reddy's Lab.

K E C International Ltd's Q3FY19 consolidated net profit rises 0.5% yoy to Rs112cr : Misses Estimate

Published on: 9:14 am

  • KEC International Ltd reported a slight miss in revenues and earnings for Q3FY19 after reporting moderate growth on the revenue front. Revenue grew by 10.1% yoy to Rs2,647cr (expectation Rs2,742cr).
  • EBITDA stood at Rs281cr, up 15.2% yoy against estimates of Rs278cr.
  • EBIDTA margin rose by 48bps yoy to 10.6%. Net Profit stood at Rs112cr against an estimate of Rs119cr. Read more

Granules India Ltd's Q3FY19 consolidated net profit rises 72.26% yoy to Rs60.32cr : Beats Estimates

Published on: 9:06 am

  • Granules India’s revenue in Q3FY19 grew by 53.8% yoy to Rs631.8cr vs. Rs410.7cr in Q3FY18.
  • EBITDA in Q3FY19 grew by 53% yoy to Rs113.3cr vs. Rs74cr in Q3FY18.
  • EBITDA margins in Q3FY19 stood at 17.9% vs. 17.3% in Q2FY19 and 18% in Q3FY18.
  • PAT grew by 72.3% yoy to Rs60.3cr in Q3FY19. Read more

Top stocks in focus: Yes Bank, Coal India, Cyient

Published on: 9:02 am

  • Yes Bank’s Rana Kapoor, Madhu Kapur agree to appoint nominees on bank's board.
  • Coal India to get Rs1,065cr cash from three of its wholly-owned subsidiaries as they approve buyback.
  • Auto stocks will be in focus as the government lowers import duty on parts of electric vehicles. Read more.

Current FII data

Published on: 9:01 am

FII/DII Data:  In yesterday’s trading session FIIs sold 354cr stock in the cash market whereas DIIs bought Rs81cr worth of stock. In the derivative market, FIIs sold Rs466cr of Index futures and bought Rs210cr worth of Index options. In the Stock futures segment, FIIs sold Rs165cr worth of stock futures and purchased 56cr stock options.

FII View: FIIs created their bearish positions in Index Futures which is deduced by the fact that they created 3931 net short contracts in the segment. However, considering the volatility in the market they also created 3559 net long contracts in Index Call Options.

FII

OI

(in000's)

% Chg

% Chg

Since Expiry

Long/

Short Ratio

Long/Short

 Since Expiry

Index Long

242

5

64

0.9

0.9

Index Short

261

6

81

Index Call Long

228

5

72

1.9

0.5

Index Call Short

121

6

268

Index Put Long

460

0

105

2.1

0.6

Index Put Short

215

0

250


SGX Nifty indicates a flat opening for the markets

Published on: 9:00 am

  • SGX Nifty is at 10,697, up 3 points.  For today, expect high volatility, as expiry of derivative contracts will see pressure on rollovers.
  • Nifty saw a very volatile session as mid-cap weakness saw large heavyweights also buckle under pressure second day running with the index down almost 100 points intraday before last hour buying saw markets recover with Nifty closing almost flat.
  • Good results from Bajaj Finance & HDFC saw short covering/value buying. Read more.

Crompton Greaves Consumer Electrical Ltd's Q3FY19 standalone net profit rises 14.68% yoy to Rs79.70c

Published on: 8:59 am

  • Crompton Greaves Consumer Electricals’ (CGCE) Q3FY19 numbers were broadly in-line with the estimates.
  • Sales in the quarter grew 9.8% yoy to Rs1,030.3cr, in-line with the estimate. Read more. 

Bank of Baroda's Q3FY19 standalone net profit rises to Rs471.3cr, and against Rs111.8cr reported in

Published on: 8:53 am

  • Bank of Baroda Q3FY19 NII for the quarter came at Rs4,744cr up by 8% yoy.
  • The bank’s standalone net profit was 5% below consensus estimates to Rs471.3cr, and against Rs111.8cr reported in corresponding quarter last year. Read more.

Broker Radar for January 30

Published on: 8:50 am

CLSA maintained ‘Buy’ on HDFC with a TP of Rs2,360.
  • Divergent growth for retail and corporate loans.
  • Top-line and treasury drive earnings beat and asset quality manageable.
  • Maintain HDFC among our top picks across NBFCs. Read more. 

Crompton Greaves Consumer Electrical Ltd's Q3FY19 standalone net profit rises 14.68% yoy to Rs79.70c

Published on: 8:50 am

  • Crompton Greaves Consumer Electricals’ (CGCE) Q3FY19 numbers were broadly in-line with the estimates.
  • Sales in the quarter grew 9.8% yoy to Rs1,030.3cr, in-line with the estimate. Gross margin for the quarter contracted by 135bps yoy.
  • Thus, EBITDA grew by 8.2% yoy to Rs126.1cr with an EBITDA margin of 12.2% (against an estimate of 11.6%). Read more

Bank of Baroda's Q3FY19 standalone net profit rises to Rs471.3cr, and against Rs111.8cr reported in

Published on: 8:43 am

  • Bank of Baroda Q3FY19 NII for the quarter came at Rs4,744cr up by 8% yoy.
  • The bank’s standalone net profit was 5% below consensus estimates to Rs471.3cr, and against Rs111.8cr reported in corresponding quarter last year.
  • Its GNPA for Q3FY19 stood at 11.01% against 11.78% qoq, which has declined by 77bps.
  • NNPA for the quarter came at 4.26% against 4.86% qoq, which has declined by 60 bps. Read more

What not to miss today

Published on: 8:17 am

  • Markets to open flat, in tandem with Asian peers; Nifty support @10583, resistance 10750.
  • FIIs sold 354cr (cash), 466 cr in Index Futures.
  • US markets up marginally; Asian mixed ahead of US-China trade talks.
  • Britain PM Theresa May wants to re-open Brexit deal; European Union says no. Read more.

Bulk deal

Published on: 7:43 am

  • Persistent Systems: Saif India IV FII Holdings Limited sold 6.83 lakh shares of the company at Rs580.07/share on the NSE and 4.67 lakh shares at Rs580/share on the BSE.
  • Suumaya Lifestyle: A G Shares & Securities sold 1.28 lakh shares of the company at Rs22.52/share on the NSE.

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