Latest news and update

08th Feb, 2019

Grasim Industries Ltd's Q3FY19 standalone net profit rises 28.3% yoy to Rs608.2cr : In-line with Est

Published on: 3:57 pm

  • Grasim (Standalone) reported a healthy set of numbers for the quarter, broadly in-line with the estimates.
  • Revenue for the quarter was up 20.9% yoy to Rs5,292.9cr, in-line with consensus estimates. Read more. 

Nifty settles below 10,950 mark; Tata Motors, Vedanta stock drop

Published on: 3:32 pm

Equity benchmark indices ended lower for the second consecutive session. The Sensex ended lower 425 points at 36,546, while the Nifty fell 126 points at 10,944. The market breadth was negative as 950 shares advanced, while 1,552 shares declined and, 125 shares remained unchanged.
Kotak Mahindra Bank, Bharti Airtel, and Bharti Infratel were the top gainers, while Tata Motors, Vedanta, and Indiabulls Housing lost the most.

ADAG calls out illegal, motivated, and unwarranted actions by L&T Finance and Edelweiss

Published on: 3:29 pm

  • Stocks in the Anil Dhirubhai Ambani Group (ADAG) recovered and erased their declines on Friday.
  • The group's stocks have been under pressure in the last few days after RCom said it will move the insolvency tribunal for bankruptcy protection. Read more. 

Nifty slips below 10,950 mark; Eicher, Tata Motors stocks under pressure

Published on: 3:09 pm

  • Equity benchmark indices extended decline in the last hour of trading session.
  • The Nifty Metal index was trading 2% down on Friday over investors’ concerns regarding global demand growth amid uncertainty over truce in the US-China trade war. Shares of SAIL, Vedanta, Welspun Corp, Jindal Steel, and Tata Steel led the index’s fall.
  • Sensex declining 467 points at 36,503 levels. The Nifty declined 134 points at 10,35 level, below its key level of 10,950.

Sudarshan Chemical Industries Ltd's Q3FY19 standalone net profit declines 25.53% yoy to Rs14.28cr :

Published on: 3:06 pm

  • Sudarshan Chemical Industries Ltd's revenue for Q3FY19 came in at ~Rs347.7cr, up 7.1% yoy.
  • The operating profit for Q3FY19 declined by 28.7% yoy to Rs36.66cr. Read more. 

M&M & MVML's Q3FY19 standalone net profit rises 60% yoy to Rs1,476cr : Misses Estimates

Published on: 2:59 pm

  • The results for M&M include the combined results of Mahindra and Mahindra Limited (M&M) and Mahindra Vehicle Manufacturers Limited (MVML), which is a 100% subsidiary of M&M.
  • Results for the combined entity missed estimates at revenue and EBITDA level and surpassed estimates at PAT level in Q3FY19, owing to lower tax. Read more: 

Nifty Metal index falls 2% amid weak global cues

Published on: 2:22 pm

  • The Nifty Metal index was trading 2% down on Friday over investors concerns regarding global demand growth amid uncertainty over truce in the US-China trade war.
  • Shares of SAIL, Vedanta, Welspun Corp, Jindal Steel, and Tata Steel led the index’s fall. Read more. 

Khadim India hits 52-week low after Q3FY19 numbers

Published on: 2:07 pm

  • Shares of Khadim India hit 52-week low on the BSE in today’s trade after posting weak Q3 numbers.
  • The company posted a 55% decline in net profit at Rs3.97cr in Q3FY19, due to lower revenue. Read more. 

M&M slips ahead of Q3FY19 results

Published on: 1:35 pm

  • Shares of Mahindra and Mahindra Ltd were trading in the red on Friday afternoon.
  • Shares dropped to Rs684 on the BSE, a drop of ~2% from the previous closing of Rs705 despite positive expectations for the company's Q3 numbers. 
  • Revenue, PAT, and EBITDA numbers for the auto major are expected to go up this quarter. Read more. 

V I P Industries Ltd's Q3FY19 consolidated net profit declines 11.4% yoy to Rs24cr

Published on: 1:16 pm

  • VIP Industries reported a disappointing set of numbers for Q3FY19 on EBITDA and PAT fronts.
  • The consolidated revenue for the quarter grew by 27.2% yoy and 7% qoq to Rs430cr.
  • EBITDA came in at Rs38cr, down 8.2% yoy and down 26% qoq.
  • EBITDA margin contracted by 339bps yoy and 392bps qoq to 8.8%. Consolidated PAT for the quarter declined by 11.4% yoy and by 27.4% qoq to Rs24cr. Read more.

Sensex slips over 350 points; Auto, metal stocks decline

Published on: 1:15 pm

  • Equity benchmark indices extended decline in the afternoon session on weak global cues. All sectoral indices were trading in the negative zone with most losses in automobiles, metals, banks and infrastructure sectors.
  • The Sensex dropped 342 points to 36,629, while the Nifty down 101 points to 10,968. The market breadth was negative with 542 shares advancing, 1,152 shares declining, and 368 remaining unchanged.
  • Tata Motors, Grasim, and Eicher are the top Nifty losers, while Infratel, Cipla, and Kotak Mahindra Bank are the gainers in today’s trade.

Live share market update : Markets correct, Nifty near low point of the day

Published on: 1:12 pm

  • Indian equity markets continue to trend lower in early afternoon trade on Friday.
  • Nifty is trading 113 points lower at 10,954 near the low point of the day, while Bank Nifty was 140 points lower at 27242.
  • Nifty witnessed a pullback after surging higher for the past 6 trading sessions. Read more.

HCG to increase stake in BACC Healthcare; stocks gain 2%

Published on: 12:30 pm

  • Shares of HealthCare Global Enterprises (HCG) gained 2% on Friday after the company, in its filing to the exchanges, informed that it will increase its stake from 50.1% to 100% in its arm BACC Healthcare.
  • The company currently holds 50.1% of the share capital of BACC, which it acquired in March 2013, HCG said in a press note after market hours to the exchanges. Read more. 

Cadila receives USFDA approval for Carbamazepine extended-release tablets

Published on: 12:10 pm

  • Cadila Healthcare, in its press note to the exchanges on Friday, informed that the company has received approval from the USFDA to market Carbamazepine Extended-Release Tablets USP (US RLD-Tegretol XR), 100 mg, 200 mg, and 400 mg.
  • The company will manufacture the drug at the group’s formulations manufacturing facility at Moraiya, Ahmedabad. Read more.

Raymond clarifies on media report; stock gains 5%

Published on: 11:50 am

  • The Nifty Auto index declined 3% on Friday led by sharp fall in Tata Motors, Motherson Sumi, MRF, and Eicher Motors.
  • Shares of Tata Motors and Tata Motors-DVR, which plunged 18% and 15%, respectively, were leading index’s fall. Read more. 

Nifty Auto index declines 3% led by Tata Motors, Motherson Sumi, MRF

Published on: 11:45 am

  • The Nifty Auto index declined 3% on Friday led by sharp fall in Tata Motors, Motherson Sumi, MRF, and Eicher Motors.
  • Shares of Tata Motors and Tata Motors-DVR, which plunged 18% and 15%, respectively, were leading index’s fall. Read more. 

Sensex, Nifty at day's low; Tata Motors, Indiabulls HF stocks slip

Published on: 11:10 am

  • Equity benchmark indices were trading under pressure tracking its Asian peers as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row.
  • The Sensex dropped 218 points to 36,752, while the Nifty down 67 points to 10,988. The market breadth was negative with 593 shares advancing, 1,049 shares declining, and 414 remaining unchanged.
  • Shares of Minda Corp dropped 3% after the company reported a weak performance in the quarter ended December.

Important results today: Important results today: M&M, BPCL, Tata Steel, Sun TV

Published on: 10:59 am

  • Quarterly results that are expected today include Mahindra & Mahindra, Bharat Petroleum Corporation, Tata Steel, Sun TV Network, NHPC, Abbott, AIA Engineering, JK Lakshmi Cement, Amber Enterprises, Avanti Feeds, Balkrishna Industries.
  • Here is the street expectation for the companies:  Read more. 

Fortis Healthcare appoints Dr Ashutosh Raghuvanshi as its CEO

Published on: 10:59 am

  • Fortis Healthcare announced in a BSE press release on thursday evening, post market hours that its board has approved the appointment of Dr. Ashutosh Raghuvanshi as its CEO from March 18, 2019.
  • "He will also be designated as one of the key managerial personnel of the company",  mentioned the company in the exchange filing. Read more. 

Rupee extends gain; trades at 71.34/$

Published on: 10:58 am

  • The Indian rupee extended gain for the second straight trading session on Friday.
  • The currency opened 8 paise higher at 71.37 against the dollar compared to the previous close of 71.45/$. Read more. 

Asian markets slip on trade, growth worries

Published on: 10:07 am

  • Asian stock markets were trading weaker amid growing concerns over the trade fight between the US and China. Nikkei 225 Index is losing 1.87%, South Korea and Hong Kong are losing ~1% each, while Singapore, Indonesia and Malaysia are also lower. New Zealand is modestly higher.
  • The markets in Taiwan and China remain closed on Friday for the Lunar New Year holidays. Read more

Tata Motors stock tanks 15% after dismal Q3FY19 result

Published on: 9:54 am

Shares of Tata Motors tanked 15% in the morning trade and are among top Nifty losers after the company missed expectations in Q3FY19 at the consolidated level. The company plunged into a net consolidated loss due to asset impairment in JLR of Rs27,838cr. Reported consolidated net loss was Rs26,992cr against net profit of Rs1,193cr in Q3FY18 and net loss of Rs1,049cr in Q2FY19. Read more

Pricol to keep Hosur plant shut; stock down 5%

Published on: 9:43 am

  • Shares of Pricol Ltd were down 5% as the company announced that its Hosur plant will stay shut. The reason stated was that there is a change in business strategy in line with customer expectations.
  • The company had announced in August 2018 that the Hosur plant would commence operations at the end of 2018 and will serve the Bangalore auto cluster. However, the plan has been postponed. Read more

Sensex, Nifty slip on weak global cues; Tata Motors stock tanks 15.5%

Published on: 9:37 am

  • Equity benchmark indices opened in the negative zone amid weak global cues.The Sensex dropped 159 points to 36,812, while the Nifty is down 46 points to 11,024. The market breadth was negative with 621 shares advancing, 900 shares declining, and 511 remaining unchanged.
  • Shares of Tata Motors tumbled 15.5% after the company missed expectations in Q3FY19 at the consolidated level. It reported consolidated net loss at Rs26,992cr against net profit of Rs1,193cr in Q3FY18 and net loss of Rs1,049cr in Q2FY19. Read more

Sensex falls over 150 points; Tata Motors stock tumbles 18%

Published on: 9:20 am

  • The Sensex dropped 159 points to 36,812, while the Nifty down 46 points to 11,024. The market breadth was negative with 621 shares advancing, 900 shares declining, and 511 remaining unchanged.
  • In the broader market, BSE MidCap index was trading 26 points lower at 14,505, while BSE SmallCap index was ruling at 13,770, down by 16 points.

Shriram EPC bags orders worth Rs291.57cr from Govt of Jharkhand

Published on: 9:20 am

  • Shriram EPC (SEPC), one of India’s leading high—end engineering services company providing EPC & Turnkey solutions, bagged three orders aggregating Rs291.57cr from Drinking Water & Sanitation Department (DWSD), Government of Jharkhand.
  • The orders are to be executed within 36 months including 3-month trial run and O&M services are to be undertaken for a further period of 5 years. Read more. 

Aurobindo Pharma to invest in Synergy Remedies

Published on: 9:20 am

  • Aurobindo Pharma in its filing to the exchanges informed that the company has inked a share subscription agreement to invest Rs15cr in Synergy Remedies Private Limited (Synergy), a Tirupathi based pharma company.
  • The investment will be done by subscribing to additional equity shares of the said company. Read more. 

RBI imposes Rs1cr penalty on SBI

Published on: 9:03 am

  • State Bank of India (SBI), in its filing to the exchanges, informed that the Reserve Bank of India (RBI) imposed a penalty of Rs1cr for not complying with rules.
  • "Penalty has been imposed for not monitoring the end use of funds in respect to one of its borrowers," the bank said in a press note after market hours to the exchanges on Thursday. Read more.

Tata Motors: JLR’s January sales fall 10.9% on China weakness

Published on: 9:00 am

  • Tata Motors stock will be in focus today. Jaguar Land Rover retail sales in January 2019 were 43,733 vehicles, down 10.9% compared to January last year.
  • Strong sales of E-PACE, IPACE and refreshed Range Rover and Range Rover Sport were more than offset by continuing market weakness in China and the run out of the Range Rover Evoque, ahead of the introduction of the all-new Evoque later this quarter, according to an exchange filing by the company. Read more.

Jet Airways grounds four aircrafts due to non-payment of lease rent

Published on: 9:00 am

  • Jet Airways in its filing to the exchanges informed that four aircrafts have been grounded due to non-payment of amounts outstanding to lessors under lease agreements.
  • In this regard, the company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity, the company said in a press note after market hours to the exchanges on Wednesday. Read more: 

Broker Radar for February 8

Published on: 8:45 am

CLSA maintained ‘Sell’ on Tata Motors with a TP of Rs150.
  • Another big miss at JLR, a large asset impairment and weak commentary.
  • JLR: a weak demand outlook, a margin guidance cut and Brexit fears.
UBS maintained ‘Neutral’ on Tata Motors with a TP of Rs200.
  • December quarter review– China reset weighs on JLR margin;
  • India profitability holds up. Impairment supports future EPS but not cash flow.
  • Volume growth to remain elusive; company cuts margin guidance. Read more.

Aurobindo Pharma Ltd's Q3FY19 consolidated net profit rises 19.7% yoy to Rs712.22cr : Beats Estimate

Published on: 8:45 am

  • Aurobindo’s revenue in Q3FY19 grew by 21.5% yoy to Rs5,269.7cr.
  • This was due to improvement in the US, Growth Markets, ARV and non Betalactum business. Read more. 

Top stocks in focus: Tata Motors, Aurobindo Pharma, M&M, BPCL, Tata Steel

Published on: 8:30 am

  • Tata Motors JLR’s January sales were down 10.9% at 43,733 units. The company said market weakness in China had affected the sales.
  • The Reserve Bank of India levied a penalty of Rs1cr on SBI for non-monitoring of the end use of funds in respect of one of its borrowers.
  • Raymond clarified that the related party transactions are undertaken in compliance with laws and on an arm’s length basis, which has been certified by independent reputed accounting firms. Read more.

Current FII data

Published on: 8:29 am

FII/DII Data:  In yesterday’s trading session, FIIs bought 418cr stock in the cash market, whereas DIIs bought 294cr worth of stock. In the derivative market, FIIs bought 999cr of Index futures and bought 1173cr worth of Index options. In the Stock futures segment, FIIs bought 473cr worth of stock futures and bought 85cr stock options.

FII View: FIIs created bullish positions in the derivative segment which is deduced by the fact that they created 7499 long contracts in Index Futures, while simultaneously reducing 17979 short contracts in Index Call options. The long-short ratio in Index Futures currently stands at 1.7x vs 1.5x which is a bullish sign.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 184 4 69 1.1 1.7
Index Short 160 (3) 2
Index Call Long 208 (3) 15 3.6 1.2
Index Call Short 57 (24) (1)
Index Put Long 318 (4) 12 1.8 0.9
Index Put Short 179 (1) 24

SGX Nifty indicating a negative opening for the Indian markets

Published on: 8:20 am

  • SGX Nifty is at 11054.50, down 40.50 points.
  • For today, expect weakness in the morning session as after 6 days running, the index will succumb to weak global cues.
  • Nifty saw a very high volume day as the Reserve Bank Governor surprised the street with a 25 points rate cut. Read more.

Bulk deal

Published on: 8:00 am

  • Chalet Hotels: DB International Asia sold 19.3lakh shares at Rs293.54 each.
  • Solara Active Pharma Sciences: BNP Paribas Arbitrage acquired 1.96lakh shares or 0.8% equity at Rs374.98 each.
  • Ujjivan Financial Services: Ardisia Limited acquired 33.65lakh shares or 2.78% equity at Rs290 each.
  • Ujjivan Financial Services: Sequoia Capital India Investments sold 38.38lakh shares or 3.17% equity at Rs 290 each.
  • L&T Finance: Sells Reliance Group stocks Sold 2cr shares or 0.7% equity in Reliance Communications at Rs5.14 per share.
  • L&T Finance: Sold 49lakh shares or 1.9% equity in Reliance Infra at Rs120.98 per share.
  • L&T Finance: Sold 77.9lakh shares or 3.1% equity in Reliance Capital at Rs123.89 each.
  • L&T Finance: Sold 6.25cr shares or 2.2% equity in Reliance Power at Rs10.85 each.

What not to miss today

Published on: 7:53 am

  • Markets to open lower; Nifty support @11000, resistance 11120.
  • FIIs purchased 418cr (cash), 999cr in Index Futures.
  • US markets tank over 200pts as  Trump won’t meet Xi Jinping before a key deadline; Asian down.
  • Rupee appreciates 10 paise at 71.45/$ as RBI cuts repo rates. Read more.

Derivative watch

Published on: 7:47 am

  • Nifty out of the money call and put options witnessed fresh writings after the announcement of RBI Policy.
  • Gold loan NBFC such as Manappuram & Muthoot Finance added fresh long positions.
  • Manappuram 110CE surged 3.75x during the day with the heavy rise in open position, hinting a continued positive bias.

Tata Motors Ltd consolidated net loss of Rs26,992cr in Q3FY19, vs net profit of Rs1,199cr in Q3FY18

Published on: 7:45 am

  • Tata Motors Limited (TML) missed expectations yet again in Q3FY19 at the consolidated level.
  • Consolidated revenue was up 5% yoy (up 7% qoq), lower than the expectation of Rs78,554cr.
  • Higher expenses related to R&D and regulations led to a 22% yoy decline (11% qoq decline) in consolidated EBITDA to Rs6,041cr.
  • EBITDA margin came in at 7.8%, contraction of 272bps yoy (contraction of 153bps qoq). Read more.

BPCL Q3FY19 Result Expectation

Published on: 7:40 am

BPCL Consensus estimates for Q3FY19E:
• Revenue – Rs73,255cr, up 20.8% yoy supported by higher realizations and throughput
• EBITDA – Rs915cr, down by 71% yoy
• PAT – Rs427cr, down by 80% yoy Read more.

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