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13th Feb, 2019

Nifty settles below 10,800 mark; Eicher stock slips 5%

Published on: 3:32 pm

  • Equity benchmark indices ended lower after witnessing selling pressure in Reliance Industries, L&T, and ICICI Bank. The Sensex was down 120 points at 36,034, while Nifty was down 38 points at 10,794.
  • About 1,094 stocks declined and 643 shares advanced on National Stock Exchange. On the sectoral front, Nifty PSU Bank index dropped 2%, followed by auto, and media. On the flipside, the IT Index was the top sectoral gainer, up 0.65%.
  • Share price of CG Power tanked 30% after company posted net loss for the quarter ended December 2018.

CG power crashes ~30% post Q3 results

Published on: 3:25 pm

  • Shares of CG Power crashed ~30% in intraday trade on Wednesday. Shares touched a 52-week low of Rs26.65 after the company reported a net loss of Rs150cr for Q3FY19 including a onetime loss of Rs116.6cr, as against a loss of Rs28.2cr in Q3FY18.
  • The adjusted loss was Rs33.6Cr as against adjusted loss of Rs25.6Cr in the same quarter last year. Read more

AAVAS Financiers stock up 2% at 52-week high

Published on: 3:15 pm

  • AAVAS Financiers stock was trading at a 52-week-high on the BSE on Wednesday.
  • The stock extended its rally for the fifth consecutive session and was trading at its peak levels since its listing on October 8, 2018, on the BSE. Read more

Nifty below 10,850 mark; BPCL, Zee stocks drop

Published on: 3:01 pm

  • Equity benchmark indices erased early gains as selling pressure were seen in ICICI Bank, L&T, and SBI.
  • Adani group stocks witnessed a sharp surge with the likes of Adani Power and Adani Ent. trading 8.25% and 5.9% higher respectively.
  • The Sensex was up mere 8 points at 36,162, while the Nifty down 7 points at 10,824 levels.

Bosch stock slips 4% post Q3FY19 numbers

Published on: 2:50 pm

  • Shares of Bosch Ltd slipped ~4% despite reporting a 19.3% increase in standalone PAT for the third quarter ended December 31, 2018.
  • The company standalone PAT rose to Rs335cr in Q3FY19 vs. Rs281cr in Q3FY18. Read more. 

Rico Auto Industries stock slips 4% after acquisition

Published on: 2:50 pm

  • Shares of Rico Auto Industries tanked 4% on the BSE in the afternoon session. The Board approved the acquisition of equity shares by Rico Auto and its step down subsidiary, Rasa Autocom Limited, in the 50:50 Joint Venture Company namely Magna Rico Powertrain Private Limited (JV Co.) from the Joint Venture Partner namely Magna Powertrain GMBH.
  • Post this acquisition, JV Co. will become a subsidiary of the company and the company along with its step down subsidiary will hold entire share capital of the JV Co, as per BSE filing. Read more

Rico Auto Industries stock slips 4% after acquisition

Published on: 2:48 pm

  • Shares of Rico Auto Industries tanked 4% on the BSE in the afternoon session.
  • The Board approved the acquisition of equity shares by Rico Auto and its step down subsidiary, Rasa Autocom Limited, in the 50:50 Joint Venture Company namely Magna Rico Powertrain Private Limited (JV Co.) from the Joint Venture Partner namely Magna Powertrain GMBH. Read more. 

Brexit talks head for late showdown as no-deal crisis looms

Published on: 2:31 pm

  • Theresa May and the European Union are heading for a high-stakes, last-minute gamble that will decide whether the UK leaves the bloc with or without a deal, people familiar with both sides said.
  • On March 21 -- just a week before Britain is due to exit the EU -- the prime minister will have the chance to win a late concession from European leaders at a summit in Brussels, the people said. Read more. 

Trump flexible on China tariff deadline as he seeks 'real deal'

Published on: 2:08 pm

  • President Donald Trump said he’s open to extending a March 1 deadline to raise tariffs on Chinese products if the two sides are near an agreement, sending a conciliatory signal amid talks to resolve the trade war between the world’s two biggest economies.
  • “If we’re close to a deal where we think we can make a real deal and it’s going to get done, I could see myself letting that slide for a little while,” Trump told reporters during a cabinet meeting on Tuesday. Read more. 

Stocks advance as trade hopes grow; dollar steady

Published on: 2:06 pm

  • Stocks rose around the globe on Wednesday after President Donald Trump signaled a more conciliatory stance toward China, fueling hopes of a breakthrough in the trade war when talks get underway later in the week.
  • The dollar and Treasuries were little changed. Read more. 

Live share market update : Markets consolidate, Nifty up 24 points

Published on: 1:20 pm

  • Indian equity markets witnessed consolidation in early afternoon trade on Wednesday after having seen heavy selling pressure in the past three trading sessions.
  • The Nifty was trading 24 points higher at 10,855 while Bank Nifty was 52 points higher at 27,063. Read more. 

OMCs, Media stocks skid; Realty stocks gain

Published on: 1:09 pm

  • Equity benchmark indices were trading higher in Wednesday’s trade, with the Sensex gaining 109 points at 36,263, while the Nifty rose 30 points at 10,862 levels.
  • The stock markets opened higher in early trade boosted by improved industrial production data for December. Read more. 

Lakshmi Machine Works to start assembly of machine tools in FY20

Published on: 12:40 pm

  • Lakshmi Machine Works is expected to commence with the assembly of machine tools for DMG Mori Co, Japan by FY20.
  • The same will be supplied to DMG Mori India Private Limited. Read more. 

Bata India gains 5% post strong Q3FY19 results

Published on: 11:50 am

  • Shares of Bata India gained 5% in intraday trade on Wednesday after the company posted a 51% rise in net profits in Q3FY19.
  • Bata India Ltd’s revenue for Q3FY19 came in at Rs779cr, up 15.5% yoy and 15.7% qoq. Read more. 

Zydus gets final approval from USFDA for Triamterene and Hydrochlorothiazide Capsules USP

Published on: 11:40 am

  • Zydus Cadila has received the final approval from the USFDA to market Triamterene and Hydrochlorothiazide Capsules USP (US RLD -DYAZIDE), 37.5mg/25mg.
  • It will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad. Read more. 
 

Rupee gains 18 paise against US dollar

Published on: 11:30 am

  • The Indian rupee extended its gains to the seventh straight day on Wednesday after India's retail inflation fell to a 19-month low of 2.05% in January.
  • Currently, the rupee is trading 18 paise higher at 70.53/US$. Read more. 

Strides Pharma gets USFDA nod for Triamcinolone Acetonide cream

Published on: 11:30 am

  • Strides Pharma Science Ltd (Strides), on Wednesday, announced that its step-down, wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received the US health regulator's (USFDA) approval for Triamcinolone Acetonide Cream USP, 0.025%, 0.1%, and 0.5%.
  • The product is the generic version of Mylan Pharmaceuticals' Triamcinolone Acetonide cream, the company said in a regulatory filing. Read more. 

JK Paper climbs ~2.5% post Q3 results

Published on: 11:15 am

  • Shares of JK Paper climbed ~2.5% in intraday trade on Wednesday after the company posted strong growth in Q3FY19 on Tuesday evening.
  • The company's shares climbed to a high of Rs140.15 after it posted a stellar 72% rise PAT in Q3FY19. Read more. 

L&T Construction wins order for construction of hospitals

Published on: 10:32 am

  • Buildings and Factories Business of L&T Construction has secured a Design and Build order for the construction of hospitals from a private developer in India. The project that will feature 37 linear accelerator bunkers has to be completed within stringent timelines of 30 months.
  • This is a first-of-its-kind private sector project that incorporates National Disaster Management Authority guidelines and will have base isolators in the foundation to withstand the worst-case seismic scenarios, the company said in the filing.
  • The business has also secured another order for the construction of a hospital in Udupi, Karnataka. Read more

Q3FY19 earnings reaction: Coal India drops; Sun Pharma, Oil India up

Published on: 10:18 am

  • Shares of Coal India declined marginally after opening higher, while those of Sun Pharma and Oil India rose 2% each in Wednesday’s morning trade post their respective earnings numbers for the third quarter of FY19.
  • Sun Pharma’s PAT grew 286.2% yoy to Rs1,241.85cr in Q3FY19. EBITDA in Q3FY19 grew 48.1% yoy to Rs2,152.89cr vs. Rs1,453.4cr in Q3FY18 and Rs1,531.2cr in Q2FY19. EBITDA margin in the quarter stood at 27.8% vs. 22.1% in Q2FY19 and 21.8% in Q3FY18.
  • Sun Pharmaceuticals Industries Ltd is currently trading at Rs444.20 up by Rs7.45 or 1.71% from its previous closing of Rs436.75 on the BSE. The scrip opened at Rs451.50 and has touched a high and low of Rs454.40 and Rs441.65 respectively. Read more

Asian markets trade higher on US-China trade deal hopes

Published on: 9:58 am

  • Asian stock markets were trading higher on Wednesday following the overnight rally on Wall Street amid optimism about US-China trade talks and as the surge in crude oil prices boosted energy stocks.
  • Treasuries extended declines and the dollar stabilized after snapping eight days of gains.
  • Shares in Tokyo, Hong Kong and China traded higher, while Indonesia, Malaysia and Taiwan are lower. The Australian market slipped into negative territory after opening higher. Read more

Nifty above 10,850 mark; Realty, FMCG stocks lead

Published on: 9:41 am

  • Equity benchmark indices opened higher tracking cues from its Asian peers, on optimism that United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.
  • On the sectoral front, realty index rose 1.4% followed by FMCG, pharma, and banking. On the flip side, IT, media and auto indices were trading in the negative zone.
  • The Sensex is up 132 points at 36,285, while the Nifty rose 27 points at 10,858. The market breadth was positive with 930 shares advancing, 596 shares declining, and 512 remaining unchanged. Read more

Sensex rallies over 200 points; Sun Pharma, Coal India stocks gain

Published on: 9:19 am

  • The Sensex was up 200 points at 36,353, while Nifty is up 57 points at 10,890.
  • Around 506 shares have advanced, 285 shares declined, and 33 shares remained unchanged.
  • Sun Pharma, ITC, and Coal India are the top gainers on the NSE, while losers are HPCL, Infosys, Axis Bank.

RBI imposes penalty on seven banks

Published on: 8:56 am

Alembic Pharma’s unit Orit Lab gets USFDA nod for Fenofibrate tablets

Published on: 8:46 am

  • Alembic Pharmaceuticals announced that its wholly owned step down subsidiary Orit Laboratories LLC has received approval from the USFDA for its ANDA Fenofibrate Tablets USP, 54mg and 160mg.
  • The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Tricor Tablets, 54mg and 160mg, of AbbVie Inc. (AbbVie), as per BSE filing. Read more

Broker Radar for February 13

Published on: 8:26 am

CLSA maintained ‘Buy’ on Sun Pharma with a TP of Rs560
  • Good December quarter even after the adjustments.
  • Specialty pipeline execution will be the key focus area for the next financial year.
  • Current valuations attractive and stronger specialty portfolio ramp-up could drive rerating.
Macquarie maintained ‘Neutral’ on Sun Pharma with a TP of Rs450
  • Forex adjusted EBITDA marginally ahead due to lower R&D.
  • Continue to await signs of specialty ramp-up and increased generic traction from Halol. Read more

Top stocks in focus: Coal India, Allahabad Bank, Bharat Forge, Bosch, Fortis

Published on: 8:18 am

SGX Nifty indicates a positive opening for the Indian market

Published on: 8:09 am

  • SGX Nifty is at 10,983, up 31.50 points. For today, expect market to stage a rally as oversold conditions could see short covering pull back.Nifty saw a very range bound session end with weakness as bears got the upper hand in the last hour to hammer the index down 60 points.
  • Asian indices opened in the green as positive US cues saw the Japanese Nikkei rise 200 points in early trade after a 500 point rally yesterday.

FII and DII Data

Published on: 8:05 am

FII/DII Data: In yesterday’s trading session FIIs sold 466cr stock in the cash market whereas DIIs sold 122cr worth of stock. In the derivative market, FIIs bought 401cr of Index futures and bought 607cr worth of Index options. In the Stock futures segment, FIIs sold 546cr worth of stock futures and bought 232cr stock options.

FII View: FIIs created bullish positions in Index Futures segment which is deduced by the fact that they created 6485 long contracts. However, considering the volatility in the market they also purchased 19988 long contracts in Index Put Options. The long-short ratio in Index Futures currently stands at 1.7x.

FII OI
(in000's)		 % Chg % Chg
Since Expiry		 Long/
Short Ratio		 Long/Short
 Since Expiry
Index Long 202 3 86 1.2 1.7
Index Short 171 (0) 8
Index Call Long 235 1 30 3.4 1.1
Index Call Short 69 18 21
Index Put Long 361 6 27 2.1 1.0
Index Put Short 176 1 22

Bulk Deals

Published on: 7:38 am

  • Mahamaya Steel Industries: Minimax Commerce Private Limited bought 1 lakh shares of the company at Rs129.97 per share on the NSE.
  • Sagardeep Alloys: Siddhi Sureshkumar Shah sold 1.45 lakh shares of the company at Rs99.76 per share on the NSE.

What not to miss today

Published on: 7:33 am

  • Markets to open positive; Nifty support @10800, resistance 10930.
  • FIIs sold 466cr  (cash), bought 401cr in Index Futures.
  • US, Asian markets gain on optimism on trade talks and deal to avoid government shutdown.
  • Brent crude ended 1.48% higher at $62.42/barrel.
  • CPI inflation eases to 2% on falling food prices.Read more

Derivative Watch

Published on: 7:21 am

  • Nifty and Bank Nifty future added fresh short positions with open interest soaring higher.
  • Nifty/Bank Nifty Put/Call ratio stands at 1.20/1.49x
  • Nifty 10850PE added maximum open positions to the tune of ~75%, indicating a build-up of bearish positions.(February 14 expiry)
  • EIL added long positions while National Aluminum added short positions.

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