Latest news and updates

04th Feb, 2019

Markets extend 2-days gain; Nifty settles above 10,900-mark

Published on: 3:49 pm

  • Equity benchmark indices extended gain for the third straight trading session on Monday with the Sensex closing 113 points up at 36,582 levels. The Nifty rose 19 points to end at 10,912 levels, well above its key level of 10,900.
  • All sectoral indices on the NSE closed on a mixed note. Nifty Pharma and Media indices ended 2% and 1%, respectively. Conversely, the Bank index ended in the green.
  • Among stocks, Titan, ONGC, Reliance Industries, and Bajaj Auto gained the most. On the flip side, Indiabulls Housing Finance, Hindalco, Yes Bank, HPCL, and Power Grid lost the most.
  • Market breadth was negative on the NSE with 1,298 shares declining, 483 shares advancing and 308 shares remaining unchanged.

Laurus Labs receives USFDA approval TLD FDC

Published on: 3:40 pm

  • Laurus Labs has received tentative approval from the United States Food and Drug Administration (USFDA) under PEPF AR for Tenofovir, Lamivudine, Dolutegravir (TLD) 300/300/50mg fixed-dose combination (FDC). 
  • Despite the news, the company’s shares declined marginally on Monday. Read more. 

European stocks mixed; US-China trade talks in focus

Published on: 3:15 pm

  • Equity shares in European markets were trading on a mixed note on Monday as rally set by energy producers and telecommunications shares was offsets by miners.
  • Besides, the Dow, S&P 500 and Nasdaq were also trading flat after better-than-expected US jobs report overshadowed a disappointing sales forecast from Amazon. Read more. 

Nifty Pharma index declines 2% led by Lupin, Aurobindo Pharma

Published on: 2:52 pm

  • The Nifty Pharma index declined 2% on Monday on sharp selling in Lupin, Aurobindo Pharma, Cipla, and Glenmark Pharmaceuticals.
  • Shares of Aurobindo Pharma, which slumped 4%, led the index’s fall. Read more. 

Godrej Properties to develop new projects in Pune; stock gains 2%

Published on: 2:12 pm

  • Shares of Godrej Properties were trading 2% up on Monday after the company announced that it would develop six new projects in Pune.
  • Accordingly, the company has entered into an equity investment platform in partnership with a Pune-based developer. Read more. 

Royal Orchid Hotels’ standalone net profit for Q3FY19 increases marginally by 6.4% yoy to Rs4.5cr

Published on: 2:04 pm

  • Royal Orchid Hotels reported its quarterly numbers on February 04, 2019.
  • The standalone revenue for the quarter came in at Rs30.55cr, up 7.6% yoy. Read more. 

L&T’s arm bags orders from Odisha Government

Published on: 1:54 pm

  • Larsen & Toubro (L&T) in its filing to the exchanges on Monday informed that its arm L&T Construction has secured projects from the Rural Water Supply and Sanitation Department, Government of Odisha.
  • The Engineering, Procurement, and Construction orders have been secured for the execution of Individual rural water supply projects in the Keonjhar and Mayurbhanj districts of Odisha, the company added. Read more. 

Hero MotoCorp begins 2019 with 9% drop in 2W sales

Published on: 1:45 pm

  • Hero MotoCorp Ltd (HMCL), the world’s largest two-wheeler manufacturer, reported a 9% yoy decline in vehicles sales in January 2019. Sequentially, (mom basis) volumes were up 28%. 
  • HMCL sold 5,82,756 vehicles in January 2019 against 6,41,501 vehicles in January 2018 and 4,52,985 vehicles in December 2018. The reported number was lower than BloombergQuint's estimates of 6,00,000 vehicles. Read more.

Live share market update: Markets trade with negative bias in noon trade

Published on: 1:05 pm

  • Indian equity markets continued to trade with a negative bias in early afternoon trade on Monday. The Nifty was down 50 points at 10,843, while Bank Nifty was down 116 points at 26,969.
  • Heavy selling pressure was seen in ADAG stocks led by Reliance Communications and Reliance Power, which were down 30% and 26%, respectively, after RCom on Friday announced that it will be filing for bankruptcy. Read more.
  • Meanwhile, all sectoral indices on the Nifty were trading in the red. Nifty Metal was down 1.57% and was the worst performer among the indices. Read more.

Q3 results reaction: Jubilant Life Sciences, Divi's up; Deepak Nitrite, Relaxo Footwears down

Published on: 12:50 pm

  • Shares of Jubilant Life Sciences and Divi's Lab were up 2% and 5%, respectively, while those of Deepak Nitrite and Relaxo Footwears were trading 2% and 3%, respectively, on the BSE post their respective Q3FY19 results.
  • Divi’s Laboratories' revenue in Q3FY19 grew 29.4% yoy to Rs1,343cr, while EBITDA grew 60.5% yoy to Rs523.3cr in Q3FY19 vs. Rs326.1cr in Q3FY18. Aided by strong margins and better operating leverage, PAT grew 68.9% yoy to Rs379.5cr in Q3FY19. Read more.

Nifty hovers around 10,850-mark; Metal stocks slip

Published on: 12:37 pm

  • Equity benchmark indices were trading in the red on Monday. The Sensex dropped 126 points at 36,343 levels. Nifty slipped 42 points down at 10,851 levels.
  • ADAG stocks witness heavy selling pressure lead by RCom down 37% in intraday trade.
  • All the sectoral indices are trading in the red with Nifty Metal being the worst performer down 1.98%.

Titan jumps 5% on brokerage upgrades after strong Q3 performance

Published on: 12:35 pm

  • Shares of Titan Company were trading up 5% owing to upgrades by brokerage houses following the company's stellar Q3 results
  • Global brokerage houses Credit Suisse and CLSA have both upgraded their rating on Titan.
  • Credit Suisse revised its neutral rating on the watch and jewelry-maker to outperform, increasing its price target to Rs1,175 from Rs935 per share following a rise in its earnings estimates by 3-10%. Read more.

Nifty Metal index slips 2%; Tata Steel, Hindalco lead drop

Published on: 12:10 pm

  • The Nifty Metal index slipped 2% on Monday morning led by losses in Tata SteelHindalcoJindal SteelSAIL, and Jindal Stainless (Hisar). Further, a contraction in China’s manufacturing activities also kept metals down.
  • China's factory activity shrank by the most in almost three years in January as new orders slumped further and output fell, a private survey showed on Friday. Read more.

Galaxy Surfactants's Q3FY19 consolidated net profit rises 1.3% yoy to Rs41.85cr: Misses Estimates

Published on: 11:44 am

  • Galaxy Surfactants Ltd's consolidated revenue for Q3FY19 came in at Rs679.47cr, up 13.7% yoy.
  • The operating profit for the quarter stood at Rs82.43cr, a rise of 9.3% yoy. However, the EBITDA margin contracted by ~49bps yoy in Q3FY19 to 12.1%.
  • The net profit after tax came in at Rs41.85cr, an increase of 1.3% yoy. The revenue and EBITDA are in line with consensus estimates. However, the net profit missed the consensus estimates by 15%. Read more.

RCom plummets 48% on decision to file for bankruptcy

Published on: 11:35 am

  • Shares of Reliance Communication (RCom) slumped 48% on Monday after the company decided to propose the debt resolution plan in the National Company Law Tribunal (NCLT) process.
  • The company, which has ~Rs40,000cr debt, has reviewed the progress of the company’s debt resolution plans since the invocation of SDR on 2nd June 2017.
  • "The Board noted that, despite the passage of over 18 months, lenders have received zero proceeds from the proposed asset monetization plans, and the overall debt resolution process is yet to make any headway," the company said in a press note on Sunday. Read more.

NOCIL Ltd's Q3FY19 standalone net profit declines 0.7% yoy to Rs44.65cr

Published on: 11:25 am

  • NOCIL Ltd's revenue for Q3FY19 came in at Rs261.2cr, up 4.8% yoy, while the operating profit for the quarter was reported at Rs72.52cr, up 4.2% yoy.
  • The company's EBITDA margin contracted marginally by ~17bps to 27.8% in Q3FY19. The net profit for the quarter remained flat at Rs44.7cr during the quarter. Read more.

Deepak Nitrite Ltd's Q3FY19 standalone net profit rises 55.46% yoy to Rs31.62cr : In-line with Estim

Published on: 10:45 am

  • Deepak Nitrite Ltd's standalone revenue for Q3FY19 came in at Rs452.3cr, up 21.9% yoy.
  • The operating profit for the quarter came in at Rs66.2cr, an increase of 105.4% yoy. Read more. 

Cyient stock gains after board approves share buyback

Published on: 10:04 am

  • Shares of Cyient advanced 1% on the NSE in the morning session as its board has approved the buyback of its fully paid-up equity shares having face value of Rs5 each at a price not exceeding Rs700 per equity share and for an aggregate amount not exceeding Rs200cr from the shareholders of the company.
  • "The board has considered and approved buyback of shares of Rs5 at a price not exceeding Rs 700," the company said in the BSE filing. Read more. 

Supreme Court dismisses Rain Industries’ application for enhancing CPC import limit

Published on: 10:01 am

  • Rain Industries (Rain), in its filing on BSE dated February 04, 2019, stated that the Honorable Supreme Court of India has dismissed its application for enhancing CPC’s (calcined pet coke) existing import limit.
  • Rain Industries had filed applications to the Supreme Court for seeking following approvals: Read more. 

Rupee depreciates 46 paise to 71.71/$

Published on: 9:59 am

  • The Indian rupee depreciated 46 paise intraday to 71.71 against the dollar.
  • The currency opened 32 paise lower at 71.57/$ compared to its previous close of 71.25/$. Read more. 

ED files case against Kochhar, Dhoot in ICICI-Videocon case: Media reports

Published on: 9:30 am

  • The Enforcement Directorate (ED) has filed a case against Chanda Kochhar's husband Deepak Kochhar, and Videocon Chief Venugopal Dhoot in ICICI-Videocon money laundering case, media reports stated.
  • Reacting to this, shares of ICICI Bank slumped 2% on the BSE in Monday’s morning trade. Read more. 

Kodak Alaris and Newgen Software ink deal

Published on: 9:18 am

  • Newgen Software Technologies announced in a BSE press release that it has inked a deal with Kodak Alaris.
  • Reacting to the news, shares of the IT company closed ~2% on the higher on the BSE on Friday. Read more. 

Nifty holds 10,850 mark; Zee, Airtel stock slips

Published on: 9:16 am

  • Equity benchmark indices erased two day’s rally and opened lower on Monday. ICICI Bank, IndusInd Bank, Axis Bank, and M&M were among the top losers on the Sensex.
  • The Sensex slipped 99 points to 36,371, while the Nifty was down 28 points to 10,864. The market breadth was negative with 509 shares advancing, 1,023 shares declining, and 518 remaining unchanged.

Godrej Properties to develop six new projects in Pune

Published on: 9:01 am

  • Godrej Properties Ltd. (GPL) has entered into an equity investment platform in partnership with a Pune-based developer to develop six projects across Pune.
  • This portfolio comprises various asset classes including group housing projects, plotted development, mixed use development and township projects. Read more. 

Divis Laboratories Ltd's Q3FY19 standalone net profit rises 68.92% yoy to Rs379.49cr : In-line with

Published on: 8:51 am

  • Divi’s Laboratories’ revenue in Q3FY19 grew by 29.4% yoy to Rs1,343cr.
  • EBITDA grew by 60.5% yoy to Rs523.3cr in Q3FY19 vs. Rs326.1cr in Q3FY18. Read more. 

Asian markets trade mixed on Monday

Published on: 8:50 am

  • Asian stock markets were trading slightly higher on Monday amid strong US economic data and positive comments out of Washington on the trade talks.
  • Stock markets in China and South Korea are closed today due to holidays. Read more. 

Zee Promoters get 8-month breather from MFs and NBFCs

Published on: 8:45 am

  • Zee Entertainment Enterprises, Subhash Chandra led company, in a statement to the exchanges, informed that the Essel Group had secured a formal consent with lenders having a pledge of company's shares held by promoters.
  • As per the consent, the lenders have agreed that there will not be any event of default declared till September 30, 2019. Read more. Read more. 

SGX Nifty indicates flat opening for markets

Published on: 8:37 am

  • SGX Nifty is at 10898,  down 15 points.
  • Nifty witnessed the strong session second day running as the Interim Budget saw accent on rural upliftment & saw sentiment improve with tax relief for the masses.
  • This saw intraday volatility as banks remained under pressure due to the rise in the fiscal deficit, while consumer stocks ran up strongly. Read more.

Care Ratings downgrades DHFL's debt

Published on: 8:35 am

  • Rating agency CARE Ratings on Sunday downgraded Rs1.2 lakh cr worth of bonds, loans and deposits issued by DHFL.
  • The non-banking finance company’s (NBFC) Rs17,655cr worth non-convertible debentures (NCDs) have been downgraded to CARE AA+ from AAA. Read more. 

Tech Mahindra to acquire Dynacommerce Holding

Published on: 8:34 am

  • The investment committee of Tech Mahindra board of directors has approved the proposal to acquire 100% equity shares of Dynacommerce Holding B,V.
  • The purpose of this acquisition will be to enhance its capabilities in the customer experience space. Read more. 

Current FII data

Published on: 8:05 am

FII/DII Data: In Friday’s trading session, FIIs bought 1315cr stock in the cash market, whereas DIIs sold 5cr worth of stock. In the derivative market, FIIs bought 1711cr of Index futures and bought 79cr worth of Index options. In the Stock futures segment, FIIs bought 856cr worth of stock futures and sold 121cr stock options. 

FII View: FIIs created their bullish positions in the derivative segment, which is deduced by the fact that they created 20534 long contracts in Index Futures while simultaneously creating 3337 net long contracts in Index Call options. The long-short ratio in Index Futures currently stands at 1.2x.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 129 19 19 0.8 1.2
Index Short 157 (0) (0)
Index Call Long 197 9 9 2.8 0.9
Index Call Short 71 23 23
Index Put Long 295 4 4 1.9 1.0
Index Put Short 155 8 8

Derivative watch

Published on: 8:03 am

  • Nifty Futures added fresh long positions on the back of a sharp surge in the open positions.
  • On the options front short covering was witnessed in Nifty 10700CE and 10800CE, to the tune of ~1.7 lakh shares and ~2.77 lakh shares, respectively.
  • India Vix ended the day 8.2% lower at 15.7.

What not to miss today

Published on: 7:51 am

  • Markets to open flat in tandem with Asian peers; Nifty support @10813, resistance 10940.
  • FIIs bought 1315cr (cash) market, 1711cr in Index Futures.
  • Rupee depreciates 17 paise to 71.25/$.
  • Zee Promoters get 8-month breather from MFs and NBFCs.
  • Cyient approves buyback of shares worth Rs200cr. Read more.

Bulk deals

Published on: 7:41 am

  • Den Networks: Norges Bank sold 11.47 lakh shares of the firm at Rs 71.57 apiece.
  • Dewan Housing Finance: Crossland Trading traded 40.73 lakh shares at Rs 115.78-115.87 apiece.
  • Jet Airways: Crossland Trading traded 14.5 lakh shares at Rs 261.18-261.41 per share.

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