Published on: 3:32 pm
- Equity benchmark indices snapped five day’s rally on Thursday. Zee, Sun Pharma, Eicher Motors, and Bajaj Auto are the top gainers, while JSW Steel, Reliance Industries, L&T, Hindalco and Power Grid were the top losers on the Nifty.
- Manappuram 110CE surged 3.75x during the day with the heavy rise in open position, hinting a continued positive bias.
- The Sensex ended 4 points lower at 36,971, while Nifty rose 7 points at 11,069.
Published on: 3:05 pm
- Equities in European markets were trading in the red on Thursday on the sharp declining automakers and banking shares.
- Banks held their ground after Societe Generale said it will shrink its markets business and cut key performance targets on lower trading revenue. Read more.
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Published on: 2:53 pm
- India’s largest tyre manufacturer MRF Limited (MRF) reported lower-than-expected numbers in Q3FY19.
- Standalone revenue was up 6.2% yoy (4% qoq) at Rs4,034cr, lower than the consensus estimate of Rs4,179cr. EBITDA was down 21.5% yoy (up 1% qoq) at Rs552cr. Read more.
Published on: 2:10 pm
- The Nifty Pharma index gained 2% on Thursday on heavy buying in Sun Pharmaceutical Industries, Biocon, Piramal Enterprises, and Cadila.
- Shares of Sun Pharma, which gained 5% after subsidiary Taro posted strong numbers, were leading the index’s gain. Read more.
Published on: 1:37 pm
- Indian equity markets are trading flat with a positive bias in early afternoon trade on Thursday. The indices retracted from the high point of the day, following the RBI's policy meet outcome. The Nifty was trading 16 points higher at 11,078, while Bank Nifty was 76 points higher at 27,478.
- The RBI MPC cut the repo rate by 25bps and changed its stance to "neutral" from "calibrated tightening."
- All the sectoral indices barring Nifty Metal were trading in the green with Nifty Pharma being the top performer, up 1.66%. Read more.
Published on: 12:55 pm
- Shares of Vodafone Idea zoomed 8.4% in intraday trade on Thursday even as the company’s net loss widened in Q3FY19.
- The shares touched a high of Rs32.75, a rise of 10% from its previous closing of Rs29.80 on the BSE, despite the company posting mixed numbers in the quarter ended December 2018. Read more.
Published on: 12:45 pm
- The Indian rupee appreciated 19 paise in Thursday morning trade to 71.37 against the US dollar after the Reserve Bank of India (RBI), in its final bi-monthly monetary policy review for FY19, decided to cut the key repo rate by 25bps to 6.25%.
- At 12:35 PM IST, the domestic currency was trading at 71.48 per US dollar. On Wednesday, the currency settled 1 paise higher at 71.56 against the dollar. Read more.
Published on: 12:33 pm
- Turning to the growth outlook, RBI has projected the GDP growth for 2018-19 in the December policy at 7.4% (7.2-7.3% in H2) and at 7.5% for H1FY20, with risks somewhat to the downside.
- The CSO has estimated GDP growth at 7.2% for 2018-19. Looking beyond the current year, the growth outlook is likely to be influenced by the following factors.
- First, aggregate bank credit and overall financial flows to the commercial sector continue to be strong but are yet to be broad-based. Read more.
Published on: 12:26 pm
- Stocks in Asia traded mixed Thursday following a retreat in US shares, with European futures pointing toward a mildly weaker start, on signs the global rally in equities is stalling. Indian investors assessed an interest-rate cut by the central bank that most hadn’t foreseen.
- Japanese shares fell amid a raft of corporate earnings, even as SoftBank Group Corp. surged as much as 17% on plans for its biggest-ever buyback.
- Australian shares rose for a fourth day, showing little signs of exhaustion as the benchmark index climbed further into technically overbought territory. Read more.
Published on: 11:54 am
- Equity benchmark indices extended rally after RBI has cut the repo rate by 25bps to 6.25%. The Nifty Bank index surged after the RBI policy decisions.
- The Sensex jumped 0.53% to 37,172, while the Nifty gained 0.50% to 11,118.
- The market breadth was positive with 1,074 shares advancing, 585 shares declining, and 400 remaining unchanged. Read more.
Published on: 11:50 am
- The RBI, in its final bi-monthly monetary policy review for FY19, has decided to cut the repo rate by 25bps to 6.25% and changed its policy stance to "neutral" from calibrated tightening earlier.
- Consequently, the reverse repo rate under the LAF stands adjusted to 6.0%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.5%. Read more.
Published on: 11:40 am
- Shares of Siemens jumped 5% after the company witnessed strong growth in net profit to Rs228cr, up 19.7% yoy, vs. Rs190.5cr in Q1FY18, beating the consensus estimates by 8%.
- The company’s standalone revenue increased 15.5% yoy to Rs2,807.1cr in Q1FY19 vs. Rs2,429.5cr in Q1FY18. Read more.
Published on: 11:23 am
- Shares of Housing Development Finance Corporation (HDFC) are down 0.5% on Thursday after a media report stated that the Serious Fraud Investigation Office (SFIO) is probing the role of the company in connection with its ongoing investigations into alleged fund diversion and mismanagement by IL&FS Ltd and a few of its subsidiaries.
- As per The Indian Express report, the SFIO has recently examined and recorded the statement of a top HDFC executive. It may also examine former nominee directors appointed by HDFC on the board of IL&FS.
Published on: 11:21 am
- Equity benchmark indices were trading on a strong note on Thursday ahead of the RBI's policy decision.
- The Sensex jumped 107 points to 37,087, while the Nifty gained 25 points to 11,087. The market breadth was positive with 1,079 shares advancing, 548 shares declining, and 430 remaining unchanged.
- Sun Pharma, Bajaj Auto, and Zee were the top gainers, while JSW Steel, Tech Mahindra, and GAIL are the top losers on the NSE.
Published on: 11:04 am
- Shares of Cummins India slipped nearly 3% in intraday trade on Thursday even as the company posted a net profit increase of 8.7% in Q3FY19.
- The company had posted robust numbers on all fronts. Read more.
Published on: 11:00 am
- Chalet Hotels has listed at a discount of 5% to Rs294 per share on the NSE compared to its issue price of Rs280.
- The stock is currently trading at Rs284.75 up by Rs4.75 or 1.7% from its previous closing of Rs280 on the BSE.
- The scrip opened at Rs291 and has touched a high and low of Rs293.50 and Rs250.15, respectively. Read more
Published on: 10:42 am
- Shares of JSW Steel were trading 2% down on Thursday, while those of Vodafone Idea spurted 5% post their respective earnings for the third quarter of FY19.
- JSW Steel Ltd missed estimates for Q3FY19 on the revenue and earnings fronts due to lower sales volumes. Revenue grew by 13.8% yoy to Rs20,318cr (expectation Rs21,268cr). EBITDA stood at Rs4,501cr, up 16.9% yoy against estimates of Rs4,438cr. Read more
Published on: 10:38 am
Published on: 10:06 am
- Pharma major Lupin has received approval for its Tadalafil Tablets USP, 20mg from the USFDA, to market a generic version of Eli Lilly and Company's Adcirca Tablets, 20mg.
- Lupin’s revenue in Q3FY19 grew by 13.3% yoy Rs4,505cr vs. 3,976cr in Q3FY18. The company reported loss of Rs151.8cr in Q3FY19 due to the one off litigation fine of EUR40mn (Rs320cr) for Perindopril.
- Lupin Ltd is currently trading at Rs823.15 down by Rs18.8 or 2.23% from its previous closing of Rs841.95 on the BSE.
Published on: 9:57 am
- Quarterly results that are expected today include Tata Motors, Adani Enterprises, Grasim Industries, Adani Green Energy, Apex Frozen Foods, Arvind, Aurobindo Pharma, Britannia Industries, Cadila Healthcare, Bajaj Electricals.
- More companies announcing results today are: 20 Microns, Balmer Lawrie & Company, Borosil Glass Works, Britannia Industries, Cadila Healthcare, Coffee Day Enterprises, Elecon Engineering, Elgi Rubber Endurance Technologies, Eros International Media, Esab, Gammon Gillette, Gravit,a Gujarat Borosil, Healthcare Global Enterprises, Hinduja Global Solutions, Hindustan Construction Company, IG Petrochemicals, Indo Tech Transformers, Ircon International, JSW Holdings, Khadim India, Majesco. Read more
Published on: 9:46 am
- Equity benchmark indices opened on a flat note tracking global cues. However, the market extended gains after opening flat led by RIL, Infosys, Sun Pharma, and ICICI Bank.
- The Sensex jumped 144 points to 37,120, while the Nifty gained 36 points to 11,098.
- Shares of Sun Pharma were among top Nifty gainers and rose 3% after its US subsidiary Taro Pharma reported strong quarterly results. Read more
Published on: 9:41 am
- The Indian rupee depreciated 16 paise to open at 71.73 against the dollar on Thursday ahead of the Reserve Bank of India’s Monetary Policy Committee’s (MPC) meeting outcome.
- At 9:40 AM, IST, the domestic unit was trading at 71.76 against the dollar. Read more
Published on: 9:22 am
- The Sensex jumped 144 points to 37,120, while the Nifty gained 36 points to 11,098. The market breadth was positive with 858 shares advancing, 660 shares declining, and 516 remaining unchanged.
- Shares of Sun Pharma were among top Nifty gainers and rose 3% after its US subsidiary, Taro Pharma reported strong quarterly results.
- Volatility index India VIX down 0.22% to 15.59.
Published on: 9:15 am
- Asian stock markets were trading on a mixed note on Thursday as investors began to return from their Lunar New Year break.
- Hong Kong and Shanghai still closed, while focus turns on the resumption next week of China-US trade talks in Beijing. Read more.
Published on: 9:12 am
- GAIL (India) in its press note to the exchanges informed that, as the owner and operator of the Pradhan Mantri Urja Ganga natural gas pipeline project under execution, it has offloaded the pipe laying contract from IL&FS due to poor project progress driven on account of the acute financial crisis. Read more.
Published on: 9:10 am
- Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Fulvestrant Injection, 250 mg/5 ml (50 mg/ml), a generic version of FASLODEX Injection, 250 mg/5 ml (50 mg/ml), of AstraZeneca Pharmaceuticals LP.
- According to IQVIA sales data for the 12-month period ending December 2018, the FASLODEX Injection, 250 mg/5 ml (50 mg/ml) market achieved annual sales of approximately $533.3mn. Read more.
Published on: 8:59 am
- Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Tadalafil Tablets 20mg from the USFDA.
- Cipla’s Tadalafil Tablets 20mg is AB-rated generic therapeutic equivalent version of Eli Lilly & Co.’s Adcirca. Read more.
Published on: 8:50 am
- The Telecom Regulatory Authority of India (TRAI) has issued a show-cause notice to Bharti Airtel over the blackout faced by some of its DTH customers during the switch-over to the new tariff regime, a PTI report showed.
- As per the report, the notice has been issued earlier this week, and Airtel has been given three days time to respond.Read more:
Published on: 8:34 am
- Vodafone Idea Ltd’s revenue stood at Rs11,765cr vs. Rs7,664cr qoq.
- EBITDA came in at Rs1,137cr vs. Rs461cr qoq. Read more.
Published on: 8:28 am
- Chalet Hotels Ltd, an owner, developer and asset manager of high-end hotels in key metro cities in India, will be listed on the stock bourses on Thursday.
- The public offer, which was opened for subscription from January 29 to January 31, was oversubscribed 1.57 times. Read more.
Published on: 8:11 am
FII View: FIIs created bullish positions in the derivative segment, which is deduced by the fact that they created 32950 net long contracts in Index Futures, while simultaneously creating 7809 net long contracts in Index Call options. The long-short ratio in Index Futures currently stands at 1.5x vs 1.3x which is a bullish sign.
|Index Call Long||214||4||18||2.9||0.9|
|Index Call Short||75||(0)||30|
|Index Put Long||331||2||16||1.8||0.9|
|Index Put Short||180||5||25|
Published on: 8:08 am
- SGX Nifty is at 11079, down 26 points. For today, we expect the Reserve Bank's monetary policy to decide the trend as the consensus seems to be no change for today.
- On Wednesday, Nifty witnessed a good session with the index closing above 11000 after September 21, 2018, and the breadth of the market also saw improvement. Indian indices were underperforming the global indices, which had the best start in over 25 years to the New year. Read more.
Published on: 7:59 am
- Jubilant Group said that all three listed companies will not pay brand royalty to promoter company Jubilant Enpro.
- The company stated that the decision for payment of brand royalty was taken to protect, maintain, promote and enhance the corporate brand name ‘Jubilant’, which is owned by Jubilant Enpro.Read more:
Published on: 7:53 am
- Markets to open flat; Nifty support @ 10961, resistance 11140.
- FIIs bought 694cr (cash), 2817cr in Index Futures.
- US markets fall on mixed earnings; Asian mixed.
- RBI's monetary policy to be announced at 11:45 today; status quo expected. Read more.
Published on: 7:40 am
- Dewan Housing: Tower Research Capital traded over 21.91lakh shares at Rs119.57-119.66 apiece.
- Jet Airways: Tower Research Capital traded over 5.78lakh shares at Rs237.56-237.82 per share.
- PC Jeweller: Crossland Trading traded 20.23lakh shares at Rs64.29-64.31 per share.
- Reliance Communications: Skyveil Trade Solutions traded 3.41cr shares at Rs5.31-5.33 apiece.
- Reliance Infrastructure: Alphagrep Securities traded 64 lakh shares at Rs170.46-171.4 apiece.
Published on: 7:29 am
- Nifty & Bank Nifty future added fresh long positions, while their respective put options strikes saw massive writing.
- Tech Mahindra posted a stellar show, ending yesterday's trade at its lifetime high level backed by strong Q3FY19 earnings.
- Since the start of the February series, the stock has gained ~11% and added ~33% of fresh open interest, indicating a build-up of long positions. During the first week of this month, the stock has already witnessed ~40% of the total traded volumes seen in the entire month of January, further accentuating a positive bias.
- On the Options front, the PCR of in-the-money strikes has witnessed a big spike, hinting a formation of put writing positions.