Latest news and update

07th Feb, 2019

Indices snap 5-day rally; Zee, Sun Pharma stocks lead

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.

European stocks decline led by auto makers

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. 

MRF Ltd's Q3FY19 standalone net profit declines 18% yoy to Rs279cr: Misses Estimates

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. 

Nifty Pharma index gains 2% led by Sun Pharma, Biocon, Cadila

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. 

Live share market update: Markets trade flat following RBI monetary policy

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.

Vodafone Idea zooms ~8% despite Rs5,00cr loss in Q3

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.

Rupee appreciates 19 paise to 71.37/$ post RBI policy outcome

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.

GDP for FY20 seen at 7.4%: RBI

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.

Asia stocks mixed on earnings; dollar gains build

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.

Nifty above 11,100 mark after RBI policy outcome

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.

RBI Policy LIVE: RBI cuts repo rate by 25bps; stance changed to neutral

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.

Siemens stock jumps 5% after Q1FY19 numbers

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. 

HDFC slips on report of fund diversion case

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.

Nifty above 11,050 mark ahead of RBI policy statement

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.

Cummins India slips post Q3FY19 results; IGL climbs

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. 

Chalet Hotels opens at Rs294 on NSE

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

Q3FY19 results reaction: JSW Steel down; Vodafone Idea up

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

Sun Pharma stock gains 2% after subsidiary Taro posts strong numbers

Published on: 10:38 am

  • Shares of Sun Pharma gained 2% on the NSE in morning trade after its US subsidiary Taro Pharma reported strong quarterly results.
  • Taro Pharmaceuticals posted net sales of $176.4 mn, an increase of $20.9 mn, mainly driven by a 13% increase in overall volumes. Read more

Lupin receives USFDA nod for Tadalafil tablets; Stock down 2% on weak Q3 results

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.

Important results today: Tata Motors, Adani Enterprises, Grasim, Aurobindo Pharma

Published on: 9:57 am

  • Quarterly results that are expected today include Tata MotorsAdani 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

Sensex above 37K; Nifty reclaims 11,050 mark ahead of RBI monetary policy

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

Rupee depreciates 16 paise ahead of MPC meet outcome

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

Nifty above 11,050 mark ahead of RBI monetary policy

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.

Asian markets trade mixed ahead of China-US trade talks

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. 

GAIL takes back gas pipeline laying contract from IL&FS

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

Glenmark gets tentative ANDA nod for Fulvestrant injection

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. 

Cipla gets final approval for generic version of Tadalafil tablets

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.

Bharti Airtel receives show-cause notice from TRAI: Media report

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: 

Vodafone Idea Ltd's Q3FY19 consolidated net loss widens to Rs5,005cr qoq : In-line with Estimates

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. 

Chalet Hotels stock to list today

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. 

Current FII data

Published on: 8:11 am

FII/DII Data: In yesterday’s trading session, FIIs bought 694cr stock in the cash market, whereas DIIs bought 525cr worth of stock. In the derivative market, FIIs bought 2817cr of Index futures and bought 262cr worth of Index options. In the Stock futures segment, FIIs bought 865cr worth of stock futures and bought 82cr stock options.

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.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 176 24 62 1.1 1.5
Index Short 165 1 5
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

SGX Nifty indicates flat opening for markets; focus on RBI policy meet outcome

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.

Top stocks in focus: Lupin, GAIL, Tata Motors, Chalet Hotels, Airtel

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: 

What not to miss today

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.

Bulk deal

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.

Derivative watch

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.

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