Latest news and update

11th Feb, 2019

European stocks gain; US-China trade talks in focus

Published on: 4:07 pm

  • Shares in European markets were trading in the green on Monday with all 19 sectors trading higher as investors evaluate the prospects for the US and China trade deal before the March 1 deadline for higher tariffs.
  • Further, contracts on the S&P 500, Dow Industrials and Nasdaq Composite all reversed an earlier loss. Earlier, equities rallied in China as exchanges reopened after a one-week holiday. The rest of the region traded mixed, with shares climbing in Hong Kong, falling in Sydney and edging higher in South Korea. Japan is shut for a holiday. Read more

Nifty settles below 10,900 mark; Dr.Reddy’s, M&M top losers

Published on: 3:31 pm

  • Equity benchmark indices ended lower for the second consecutive session in today’s trade.
  • The Sensex dropped 151 points to 36,395, while the Nifty ended lower 55 points at 10,888. The market breadth was negative with 528 shares advancing, 1,232 shares declining, and 324 remaining unchanged.
  • IOC, Tata Steel, and Cipla are among top gainers on the NSE, while Dr.Reddy’s, M&M, and ONGC are top losers.

India Cements Ltd's Q3FY19 standalone net profit declines 79.5% yoy to Rs3.10cr: Beats Estimates

Published on: 3:30 pm

  • India Cements reported a poor set of numbers for the quarter ended December 2018.
  • Revenue for the quarter grew 8.5% yoy to Rs1,316.3cr, in line with the estimates. Read more. 

DHFL clarifies on report of suspicious transactions

Published on: 3:20 pm

  • Dewan Housing Finance Corporation (DHFL) in its filing to the exchanges on Monday clarified that the company has received a notice from the Income Tax department; however, the notice does not refer to any suspicious transactions.
  • "The company is in receipt of a notice u/s 131 of the Income Tax Act, 1961 from the Income-tax department (Investigation Wing) on February 7, 2019, seeking information/evidence on certain aspects of the books of accounts," the company stated in a press note to the exchanges. Read more. 

BSE Smallcap index falls 1.5%; Indiabulls Ventures, Graphite India stocks slip

Published on: 3:10 pm

  • The BSE Smallcap index was down over 1.5% on Monday to trade near its 52-week low.
  • The BSE Midcap index also declined 1.5% to 13,452.5. Read more. 

Bharat Petroleum drops 1% post Q3 results

Published on: 3:05 pm

  • Shares of BPCL dropped ~1% in intraday trade on Monday after declaring their Q3 results.
  • Shares dropped to a low of Rs328.40 on the BSE, a drop of Rs3.6 from today’s opening of Rs332 on the BSE as the company’s net profit plummeted by 76% in Q3FY19. Read more. 

Great Eastern Shipping Company Ltd's Q3FY19 consolidated net profit rises 102% yoy to Rs116cr

Published on: 2:58 pm

  • Great Eastern Shipping Ltd. reported better earnings for Q3FY19 compared to that in the previous quarter due to a significant rise in tanker rates.
  • Revenue for the quarter rose by 17.1% yoy to Rs972cr. Read more. 

Motherson Sumi, Thyrocare down post Q3FY19 results

Published on: 2:10 pm

Graphite India stock hits 10% lower circuit

Published on: 2:06 pm

  • Shares of Graphite India hit 10% lower circuit and are trading at 52-week low on the BSE post Q3FY19 numbers. The stock hit a 14-month low and is trading its lowest level since October 26, 2017, post Q3FY19 numbers.
  • However, the company reported strong growth in revenue and earnings for Q3FY19 as higher realizations and volumes continue to drive earnings growth. Its revenue grew by 81% yoy to Rs1,855cr; EBITDA stood at Rs1,083cr, up 99.4% yoy. Read more.

Sensex, Nifty at day’s low; Pharma, banking stocks decline

Published on: 1:58 pm

  • Equity benchmark indices were trading under pressure in the afternoon session on Monday’s trade. Pharma stocks slipped further, followed by banking, realty, and auto stocks.
  • The Sensex dropped 186 points to 36,360, while the Nifty is down 59 points at 10,884. The market breadth was negative with 459 shares advancing, 1,263 shares declining, and 359 remaining unchanged.
  • Tata Steel, Cipla, Eicher are the top gainers, while Dr.Reddy’s, ONGC, and M&M are the top losers on the NSE.

Motherson Sumi Systems Ltd's Q3FY19 consolidated net profit rises 6.7% yoy to Rs389cr

Published on: 1:30 pm

  • Auto ancillary maker Motherson Sumi Systems Ltd (MSSL) reported a marginally lower-than-expected set of numbers in Q3FY19.
  • Consolidated revenue was up 14.5% yoy (9% qoq) at Rs16,472.98cr, against the expectations of Rs17,074cr. EBITDA stood at Rs1,393.4cr, up 18.5% yoy (15% qoq), while EBITDA margin expanded 29bps yoy (44bps qoq) to 8.5%.
  • Consolidated EBITDA was lower than the estimates of Rs1,419cr. Higher depreciation (up 79% yoy, 43% qoq) limited PAT growth to 6.7% yoy (5% qoq). MSSL reported consolidated PAT of Rs389cr against an expectation of Rs430cr. Read more.

Engineers India fixes record date for interim dividend

Published on: 1:08 pm

  • The board of Engineers India, at its meeting held on Friday, approved its unaudited financial results for the quarter ended December 2018 and declared an interim dividend of Rs3.25 per share on the face value of Rs5.
  • The company announced the news via an exchange filing on Saturday afternoon. Despite the news, shares of Engineers India dipped 2% in intraday trade on Monday. Read more

NACL to raise Rs115cr through equity funding

Published on: 12:51 pm

  • NACL Industries, in a press note to the exchanges on Monday, informed that the company is planning to raise equity funds worth Rs115cr to finance its growth plans in the domestic and export markets.
  • "The Board has recommended raising around Rs115cr as equity and the approval of the shareholders will be sought at the meeting on March 7, 2019," the company said in a press note to the exchanges on Monday.
  • The infusion will be through an issue of equity and equity warrants (exercisable within 12 months) to an incoming investor and the existing promoter, the company stated. Read more

Hathway Cable, LIC Housing stocks slip post block deal

Published on: 12:33 pm

  • Shares of Hathway Cable were trading 0.57% lower on the NSE after ~14 lakh shares of the company changed hands in a block deal. LIC Housing Finance also dropped 1% after ~16.8 lakh shares of the company changed hands in a block deal on the NSE.
  • Hathway Cable & Datacom’s net profit in Q3FY19 declined 73% to Rs6.4cr as against Rs23.87cr during the previous quarter ended December 2017. Read more

Hindalco Industries standalone Q3FY19E Result Expectation

Published on: 11:52 am

Hindalco Industries Standalone Consensus expectations for Q3FY19E:
  • Revenue – Rs12,283cr, up 11.4% yoy
  • EBITDA – Rs1,200cr, down 8.6% yoy
  • EBITDA Margin –  9.8%, a contraction of 213bps yoy
  • Adjusted PAT – Rs395cr, down 12.2% yoy Read more

Coal India Q3FY19E Result Expectation

Published on: 11:50 am

Consensus expectations for Q3FY19E:
  • Revenue – Rs24,328cr, up 12.4% yoy
  • EBITDA – Rs4,618cr, flat yoy. Read more.

Nifty below 10,900 mark; Dr.Reddy’s, Hindalco stock slip

Published on: 11:37 am

  • Equity benchmark indices have come off day's high after slipping sharply in the early trades.
  • The Sensex dropped 144 points to 36,402, while the Nifty is down 53 points at 10,890. The market breadth was negative with 425 shares advancing, 1,249 shares declining, and 401 remaining unchanged.
  • Volatility index India VIX was up 2.97% to 16.03.

Nifty Metal slips 2% led by NALCO, Vedanta, Hindalco

Published on: 11:15 am

  • The Nifty Metal index slipped 2% in Monday’s morning trade on weak global cues.
  • Shares of NALCO, Vedanta, Hindalco, Welspun Corp, Jindal Steel, and MOIL were leading the index’s fall. Read more. 

Nifty Auto index declines 1% led by Ashok Leyland, M&M

Published on: 11:12 am

REC to incorporate 5 SPVs as wholly owned subsidiaries

Published on: 10:52 am

  • The board of directors of REC Limited approved the proposal for the incorporation of five protect specific special purpose vehicles (SPVs), as wholly owned subsidiary companies of REC Transmission Projects Company Limited.
  • The company made the announcement on Friday afternoon, post market hours. Read more. 

Q3FY19 results reaction: Tata Steel drop; Sun TV, Dilip Buildcon gain

Published on: 10:43 am

  • Shares of Sun TV were trading 8% up on Monday, while those of Tata Steel fell 1% post their respective earnings for the third quarter of FY19.
  • Sun TV Network zoomed 8% on the BSE in morning trade. The company’s revenue grew by 32.4% yoy and 20.7% qoq to Rs904.45cr. Adjusted PAT grew by 31.6% yoy and remained flat on qoq basis to Rs351.33cr. Read more

Rupee appreciates 15 paise at 71.16/$

Published on: 10:40 am

  • The Indian rupee appreciated 15 paise at 71.16 against the dollar during intraday trade on Monday. The currency opened 7 paise higher at 71.24 against the dollar compared to its previous close of 71.31/$.
  • At 10:40 AM IST, the domestic currency was trading at 71.22/$.  On Friday, the unit appreciated 14 paise to close at 71.31/$.
  • The rupee appreciated after the Reserve Bank of India’s Monetary Policy Committee (MPC) on Thursday reduced the policy repo rate by 25bps. Read more

Sensex, Nifty extend losses; Indiabulls Housing Finance drops

Published on: 10:21 am

  • Equity benchmark indices extended losses amid weak global cues. 
  • The Sensex dropped 123 points to 36,422, while the Nifty is down 46 points at 10,896. The market breadth was negative with 469 shares advancing, 1,068 shares declining, and 514 remaining unchanged.
  • In the broader market, BSE MidCap index was trading 136 points lower at 14,192, while BSE SmallCap index was ruling at 13,552, down by 105 points.

Nifty extends losses; RIL, L&T under pressure

Published on: 9:50 am

  • Equity benchmark indices opened in the negative zone on Monday amid weak global cues.
  • Heavy selling pressure was witnessed in auto, metal, banking, FMCG and realty indices, while IT index is up in today’s trade. Read more. 

Aurobindo gains 1% on acquisition of Apotex’ businesses in Poland

Published on: 9:33 am

  • Shares of Aurobindo Pharma gained 1% in Monday’s morning trade after the company completed the acquisition of Apotex’s commercial operations and certain supporting infrastructure in five European countries.
  • "The binding agreement to acquire five of Apotex's European businesses, including infrastructure, personnel, products, certainly established trademarks, marketing authorizations, and dossier license rights in Poland, the Czech Republic, the Netherlands (including the manufacturing facility in Leiden), Spain and Belgium was announced on July 14, 2018," the company said in a press note to the exchanges on Monday. Read more. 

Nifty holds 10,900 mark; M&M, Tata Motors stocks slip 2%

Published on: 9:22 am

  • Equity benchmark indices opened in the negative zone on Monday amid weak global cues. Heavy selling pressure were witnessed in auto, metal, banking, FMCG and realty indices, while IT index is up in today’s trade.
  • The Sensex Index slipped over 0.5% to 36,358.89 and the Nifty 50 Index dropped 36 points to 10,883.
  • Tata Steel, Cipla, Tech Mahindra, and TCS are trading higher on the NSE, while Indiabulls HF, M&M, and Dr.Reddy’s are trading lower.

Thyrocare Technologies Ltd's Q3FY19 consolidated net profit declines 6.93% yoy to Rs19.98cr : Misses

Published on: 9:20 am

  • Thyrocare’s revenue in Q3FY19 grew by 14.8% yoy to Rs96.3cr.
  • EBITDA was flat at Rs35.5cr in Q3FY19 vs. Rs35.4cr in Q3FY18. Read here: 

Glenmark Pharma gets ANDA nod for Sevelamer Hydrochloride Tablets

Published on: 9:09 am

  • Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Sevelamer Hydrochloride Tablets, 400mg and 800mg, a generic version of Renagel tablets, 400mg and 800mg, of Genzyme Corporation.
  • According to IQVIA sales data for the 12-month period ending December 2018, the Renagel tablets, 400mg and 800mg market achieved annual sales of approximately $102.1mn. Read more.

Dr. Reddy’s receives form 483 with 11 observations for Hyderabad plant

Published on: 9:04 am

  • Dr. Reddy’s Laboratories in its filing to the exchanges informed that the US Food and Drug Administration (USFDA) has issued form 483 with 11 observations for its manufacturing facility in Hyderabad.
  • Observations have been issued after the audit of formulations Manufacturing Plant-3 at Bachupally, the company said in a press note after market hours to the exchanges on Friday. Read more.

Important results today: Eicher, Motherson Sumi, SpiceJet, Amara Raja Batteries

Published on: 8:55 am

Broker Radar for February 11

Published on: 8:50 am

CLSA maintained ‘Outperform’ on Aurobindo Pharma with a TP of Rs820 
  • December quarter was in line and reported healthy growth in the US region.
  • Focus in 2019-20 will be to integrate recent acquisitions.
  • Performance of these acquisitions could drive a re-rating.
CLSA  maintained ‘Buy’ on Sun TV with a TP of Rs770
  • Big beat on subscriptions, advertisement revenues, and movies.
  • The growing focus on the sun next. Management confident of breaking even in two years.
  • Stock inexpensive at a 30% discount to a five-year average. Read more.

IndiGo likely to cancel 32 flights across India owing to shortage of pilots: Media report

Published on: 8:47 am

  • InterGlobe Aviation (IndiGo) is likely to cancel 32 flights on Monday amid the shortage of pilots, a PTI report suggested.
  • As per the report, the airline company has canceled flights from Delhi, Kolkata, Chennai, Bengaluru, and Hyderabad. The carrier canceled around 15 flights on Saturday and around seven on Sunday. Read more.

Voltas to invest over Rs500cr for manufacturing plant in Andhra Pradesh

Published on: 8:45 am

  • Voltas Ltd – a Tata Group enterprise, the undisputed market leader for residential air-conditioners in India, with more than 24% market share, has announced its intention to start construction of their new manufacturing facility, spread over 65 acres, in Tirupati.
  • This facility will initially manufacture and assemble air conditioners and related cooling products with a total capacity of more than 1mn units to start with. Read more.

Lupin gets 2 USFDA observations for Goa plant

Published on: 8:42 am

  • Lupin in its press note to the exchanges informed that the United States Food and Drug Administration (USFDA) issued two observations for its Goa manufacturing facility.
  • "The observations are procedural in nature and the company is confident of addressing them satisfactorily," the company said in a press note after markets hours to the exchanges on Friday. Read more.

Top stocks in focus: Dr. Reddy’s Lab, Eicher, ADAG Group stocks

Published on: 8:40 am

  • Dr. Reddy’s Laboratories received a Form 483 with 11 observations from the USFDA after the inspection of Formulations Manufacturing Plant in Hyderabad. Bharti Airtel’s Kenya arm signed an agreement with Telkom Kenya to combine operations and will be called ‘Airtel-Telkom’.
  • ADAG Group stocks in focus. Edelweiss Financial Services and L&T Finance said that all actions taken on the Reliance ADAG Group share are legal. The financial services companies stated that they had granted credit facilities against pledge of shares to Reliance ADAG Group. Read more
  • Allahabad BankPunjab National BankCorporation Bank stocks in focus. RBI Imposed a penalty of Rs1.5crore on Allahabad Bank and Rs1cr on Punjab National Bank due to regulation issues. Read more.

Current FII data

Published on: 8:26 am

FII/DII Data:  In Friday’s trading session, FIIs bought 843cr stock in the cash market, whereas DIIs sold 960cr worth of stock. In the derivative market, FIIs sold 224cr of Index futures and bought 1877cr worth of Index options. In the Stock futures segment, FIIs sold 798cr worth of stock futures and sold 40cr stock options.

FII View: FIIs created marginally bearish positions in a derivative segment, which is deduced by the fact that they created 2602 net short contracts in Index Futures, while simultaneously creating 7234 long contracts in Index Put options. The long-short ratio in Index Futures currently stands at 1.6x vs 1.7x.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 187 2 72 1.1 1.6
Index Short 166 4 6
Index Call Long 229 10 27 4.0 1.3
Index Call Short 58 1 0
Index Put Long 326 2 15 1.8 0.9
Index Put Short 177 (1) 23

SGX Nifty indicates a marginally negative opening for markets

Published on: 8:21 am

  • SGX Nifty is at 10914, down 33 points. 
  • Nifty saw a very strong last hour sell-off on Friday, as local mutual funds turned sellers, as Nifty traded below 11000.
  • Even though foreign investors have turned big buyers this February, local sentiment continues to be fragile as the broader market remains under pressure.
  • With pressure on select NBFCs and ADAG group shares, mutual funds are using all rallies to sell, which is seeing select large-cap stocks hold the market. Read more.

What not to miss today

Published on: 7:55 am

  • Markets to open marginally down; Nifty support @10873, resistance 11000.
  • FIIs purchased 843cr (cash), sold 224cr in Index Futures.
  • Asian markets trade mixed as they await resumption of US-China trade talks.
  • Lupin gets 2 USFDA observations for its Goa plant.
  • India offers 23 oil, gas blocks in 3rd bidding round under new policy. Read more.

Derivative watch

Published on: 7:39 am

  • Nifty & Bank Nifty future witnessed a decline in open interest indicating long unwinding. 
  • On the options front, short positions were built in out-of-the-money call option strikes with 11000CE witnessing an addition of ~6.73 lakh shares, consisting mainly of short positions.
  • Bharti Infratel & Kotak Bank added long positions while SAIL and Power Grid added short positions.

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