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18th Feb, 2019

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Nifty settles below 10,650 mark; Infratel, ONGC stocks gain

Published on: 3:35 pm

Equity benchmark indices ended in the negative zone on Monday as selling pressure were seen in banking, FMCH, metal, and auto indices.
The Sensex ended down 310 points at 35,498, while the Nifty slipped 83 points at 10,683. The market breadth was negative with 575 shares advancing, 1,145 shares declining, and 359 remaining unchanged.
Indiabulls HF, TCS, RIL, and Bajaj Finserv were the top losers, while Bharti Infratel, ONGC, ZEE, and Tata Motors gained in today’s trade on the Nifty50.

Nifty FMCG index dragged by Dabur, Tata Global

Published on: 3:18 pm

The Nifty FMCG index slipped 1.2% or 346 points to 28,963.60. The index opened at 29,238.35 and hit a high of 29,348.65 and a low of 28,887.70.
The sectoral breadth of Nifty FMCG was divided with 5 stocks advancing and 10 stocks declining. Dabur and Tata Global stocks from FMCG dropped over 2% each. Read more.

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Varun Beverages to acquire PepsiCo franchise rights in South, West India; stock up 2%

Published on: 2:50 pm

The Board of Directors of Varun Beverages has approved plans to enter into a binding agreement with PepsiCo India Holdings Pvt Ltd to acquire its franchise rights in South and West regions for a national bottling, sales, and distribution footprint in seven states and five Union Territories.
The deal is subject to statutory approvals. Read more.

Sensex, Nifty remain under pressure; FMCG, Banking stocks drop

Published on: 2:47 pm

Equity benchmark indices remained under pressure in the afternoon session led by IT, FMCG, and automobile stocks.
The Sensex is down 260 points at 35,548, while the Nifty slipped 71 points at 10,653. The market breadth was negative with 561 shares advancing, 1,139 shares declining, and 379 remaining unchanged.
Shares of Kaveri Seed Company slipped 2% after media report stated that the Andhra Pradesh government suspended the company's licence to sell herbicide-tolerant cotton seeds for one year.

DHFL clarifies on news item; stock gains 5%

Published on: 1:36 pm

DHFL issued a clarification on Monday’s trade after the company clarified on a news item appearing in the media captioned, "Private equity firms vie for 10% stake in DHFL."
The company stated in the exchange filing that during the investors' call held on February 4, 2019, the Chairman and Managing Director of the Company had mentioned that there is an intent to bring in a strategic investor(s) in the Company. Read more.

Sensex down over 200 points; Realty stocks gain 1%

Published on: 1:18 pm

Equity benchmark indices came off day's low in the afternoon session.
The Sensex is down 228 points at 35,581, while the Nifty slipped 52 points at 10,673. The market breadth was negative with 577 shares advancing, 1,101 shares declining, and 400 remaining unchanged.
Infratel, ONGC, and Tata Steel were the top gainers, while Yes Bank, TCS, and Asian Paints were the top losers on the NSE.

Live share market update: Markets underperform Asian peers, Nifty down 50 points

Published on: 1:01 pm

Indian equity markets continue to trade with a negative bias in early afternoon trade on Monday. Nifty was down 50 points at 10,674 while Bank Nifty was 11 points lower at 26,782. Domestic markets faced selling pressure on account of geopolitical concerns.
Barring India all the Asian peers posted strong gains with the likes of Shanghai Composite and Nikkei up 2.26% and 1.82% respectively on account of optimism about trade talks between US and China. Read more

Titagarh Wagons' stock soars 7% on international order win

Published on: 12:35 pm

Titagarh Wagons Ltd (TWL) on Monday announced that its wholly-owned Italian subsidiary Titagarh Firema Adler (TFA) SpA has been awarded a Letter of Acceptance (LoA) for the design, manufacturing, and supply of 54 units of Metro from Ferrovia Circumetnea, Italy.
The total value of the LoA is €216mn, equivalent to ~Rs1,740.60cr, the company said in a filing to the exchanges. Read more.

Supreme Court sets aside NGT green light for Vedanta's Sterlite plant

Published on: 12:35 pm

The Supreme Court has set aside the National Green Tribunal (NGT) order that allowed Vedanta to restart its copper smelter at Tuticorin.
Justice RF Nariman of the Supreme Court said that the company can approach the Madras High Court to seek reprieve, as per a media report. Read more.

Nifty Realty gains 1.5% led by Prestige, Oberoi, Sobha

Published on: 12:34 pm

The Nifty Realty index gained ~2% on Monday amid heavy buying in stocks of Prestige Estates Projects, Oberoi Realty, Sobha, and Indiabulls Real Estate.
Shares of Prestige Estates Projects, which gained 5%, were leading the gains on the index. Read more.

RInfra up 10% on special leave petition against DMRC from SC

Published on: 12:20 pm

The Supreme Court has entertained the Special Leave Petition (SLP) of Reliance Infrastructure Ltd's SPV Delhi Airport Metro Express Pvt Ltd (DAMEPL) challenging the judgment of the Delhi High Court, which set aside the over Rs5,800cr arbitral award won by the former against Delhi Metro Rail Corporation (DMRC).
The Supreme Court has issued a notice to the DMRC in the SLP. Read more.

Jet Airways gains 2% on report of fundraising through rights issue

Published on: 12:03 pm

Shares of Jet Airways climbed 2% on Monday after media reports stated that the debt-ridden airline company is all set to raise ~Rs2,500cr through a rights issue and the company’s lenders are planning for a debt-to-equity conversion.
As per the reports, lenders may convert ~Rs1,000cr of debt into equity and are likely to participate in the equity infusion through a rights issue as part of the deal. Read more.

Sensex, Nifty extend losses; Asian Paints, Yes Bank stocks drop

Published on: 12:00 pm

Equity benchmark indices extended decline as selling pressure were witnessed in Reliance Industries, TCS, HUL, and Asian Paints.
The Sensex is down 237 points at 35,572, while the Nifty slipped 71 points at 10,653. The market breadth was negative with 556 shares advancing, 1,090 shares declining, and 430 remaining unchanged.
The NSE Nifty Auto Index declined for the second day, led by the declines in Bosch Ltd, Bajaj Auto, and TVS Motors.

OMCs decline amid higher global crude oil prices

Published on: 11:48 am

Shares of oil marketing companies (OMCs) declined on Monday as oil prices in global markets rose.
Accordingly, shares of Hindustan Petroleum dropped 2%, while those of Bharat Petroleum Corporation and Indian Oil declined ~1% each. Read more.

JSPL bags Indian Railways order for 30,000tn long rails

Published on: 11:15 am

Jindal Steel and Power Ltd (JSPL) has been awarded a contract by the Indian Railways to supply 30,000 ton of long rail steel.
The company made the announcement in a regulatory filing on Monday morning. Read more.

Nifty IT index drops ~1%; KPIT slips 12.5%

Published on: 11:00 am

The Nifty IT index slipped ~1% on Monday amid heavy selling pressure witnessed in Infibeam, Oracle Financial Services Software, HCL Tech, and Mindtree.
Shares of Infosys, HCL Tech, TCS, and MindTree, which declined 2% each, were leading the index’s fall. Shares of Mindtree, HCL Tech, Tata Elxsi, and Wipro also dropped in the range of 2-1%, respectively. Read more.

ADAG shares gain on reports of in-principle agreement with lenders

Published on: 10:32 am

Shares of Anil Ambani-led Reliance Group spurted in Monday morning trade after media reports suggested that the group may have reached an in-principle deal with ~90% of its lenders.
Accordingly, shares of Reliance Communications, Reliance Infrastructure, and Reliance Power spurted 13%, 11%, and 12%, respectively, and those of Reliance Naval & Engineering climbed 6%. Read more.

Rupee extends fall; trades at 71.40/$

Published on: 10:20 am

The Indian rupee opened lower for the fourth consecutive session against US Dollar weighed down by higher global oil prices.
Presently, the currency is trading at 71.40/$ lower by 18 paise. Read more.

Sensex slips 200 points; Yes Bank, Bajaj Auto stocks fall

Published on: 10:05 am

Equity benchmark indices opened on a flat note on Monday but slipped into the negative zone minutes after trading.
The Sensex is down 200 points at 35,612, while the Nifty slipped 60 points at 10,664. The market breadth was negative with 511 shares advancing, 1,069 shares declining, and 484 remaining unchanged.
In the broader market, BSE MidCap index was trading 13 points higher at 13,953, while BSE SmallCap index was ruling at 13,259, up 7 points. Read more

Dr Reddy’s gains 4% on inspection closures report from USFDA for Duvada facility

Published on: 9:35 am

Shares of Dr Reddy’s gained 4% in Monday’s morning trade as the company received an inspection closure report from the United States Food and Drug Administration (USFDA) about the issuance of establishment inspection report (EIR) for its Duvada facility.
"We have received a written communication from the USFDA, about the issuance of EIR for FTO VII, our formulations manufacturing facility at Duvvada, Visakhapatnam," the company said in a press note to the exchanges on Saturday. Read more.

Dr Reddy’s gets warning letter relief while Biocon gets form 483

Published on: 9:30 am

Dr. Reddy’s Lab has said that USFDA has lifted a warning letter on its formulations manufacturing facility at Duvvada.
This site was included in the warning letter received from USFDA in November, 2015. Read more.

Yes Bank slips 8% as RBI warns of regulatory action for disclosure of nil divergence report

Published on: 9:25 am

Shares of Yes Bank opened 8% down in Monday’s morning trade after the lender received a letter from the Reserve Bank of India (RBI) warning that the company might face regulatory actions for violating a confidentiality clause by disclosing a nil divergence report.
The central bank has sent a letter to the lender saying the bank had violated regulatory guidelines in the press release where it had made this disclosure last week, the bank said in a press note after market hours to the exchanges on Friday. Read more.

L&T Construction secures contract for design and construction of a major airport; stock up 1%

Published on: 9:25 am

L&T Construction has secured a mega contract for design and construction of a major airport.
The Engineering, Procurement and Construction orders have been secured to execute development works of a major airport. Read more.

Nifty above 10,750 mark; Dr.Reddy’s, Tech Mahindra stocks gain

Published on: 9:20 am

Equity benchmark indices opened on a flat note on Monday. The Sensex was up 22 points higher at 35,831, while the Nifty opened at 10,738, up 14 points.
The Indian rupee opened lower at 71.31 per dollar on Monday vs. Friday's close 71.22/$.
Shares of the Anil Ambani-led group companies rallied in today’s trade.

Glenmark Pharma gets USFDA nod for Clobetasol Propionate Foam

Published on: 9:10 am

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the USFDA for Clobetasol Propionate Foam, 0.05%, a generic version of Olux Foam, 0.05%, of Mylan Pharmaceuticals, Inc.
According to IQVIA sales data for the 12-month period ending December 2018, the Olux Foam, 0.05% market achieved annual sales of approximately $50.9mn. Read more.

Biocon facilities complete pre-approval USFDA inspections with no form 483

Published on: 8:59 am

Biocon, in its press note to the exchanges on Monday, informed that the United States Food and Drug Administration (USFDA) concluded two pre-approval inspections of Biocon's manufacturing facilities in Bengaluru.
"There were no observations and no Form 483 was issued after the pre-approval inspection of our Oral Solid Dosage facility conducted between February 11-15," the company said in a press note on Monday. Read more.

BPCL unit signs pact for 1 MMTPA of LNG for 15 years

Published on: 8:56 am

Bharat Gas Resources Ltd, a wholly owned subsidiary of Bharat Petroleum Corporation Ltd. (BPCL) has executed a long term LNG Sale Purchase Agreement with Mozambique LNG-1 company Pte. Ltd., a special purpose vehicle of the Mozambique Area-1 co-venturers.
The sale purchase agreement is for 1 MMTPA of LNG for a term of 15 years, the company said in the regulatory filing. Read more.

SEBI grants waiver for Wipro’s buyback offer

Published on: 8:48 am

Wipro, in its filing to the exchanges, informed that the Securities and Exchange Board of India (SEBI) granted certain exemptions to the company from the buyback norms in case of the proposed share repurchase programme.
In November 2018, the company had filed an application with the market regulators to seek exemption from the strict enforcement of the buyback norms for the merger of its four wholly-owned subsidiaries with itself, Wipro said in a press note to exchanges on Saturday. Read more.

SPARC parent unit not to launch Elepsia as CNS

Published on: 8:41 am

Sun Pharma Advanced Research Company Ltd (SPARC) has received a communication from Sun Pharma Global FZE (SPGFZE), a wholly owned subsidiary of Sun Pharmaceutical Industries Limited, informing that SPGFZE is not planning to launch Elepsia XR (Levetiracetam Extended Release Tablets) as CNS is not its focussed therapeutic area in US market, and therefore SPGFZE has decided to return the product rights back to SPARC.
SPARC had out-licensed Elepsia XR to SPGFZE in July 2016; and was eligible for sales linked milestone and royalties upon commercialization of Elepsia, the company said in the regulatory filing. Read more.

Bulk deal

Published on: 8:31 am

Jakharia Fabric: Overskud Multi Asset Management Private Limited purchased 28,000 shares of the company at Rs188 per share on the NSE.
Rajnish Wellness: Dhwaja Shares & Securities Pvt Ltd bought 1.02 lakh shares of the company at Rs182.26 per share on the BSE.

Asian markets trade higher on US-China trade talks

Published on: 8:27 am

Asian stock markets were trading higher on Monday morning, with trade talks between the US and China set to continue in Washington this week after high-level meetings in Beijing concluded last week.
Minutes of the Federal Reserve's last policy meeting are due on Wednesday and should provide more guidance on rate hikes this year. Read more.

Reliance group reaches in-principle understanding with lenders: Media reports

Published on: 8:11 am

Anil Ambani led Reliance group may have reached an in-principle understanding with ~90% of its lenders, media reports stated.
As per the reports, lenders of the group have agreed to not to sell pledged shares in the group till September. Read more.

Top stocks in focus: Yes Bank, DHFL, Dr. Reddy's, Tech Mahindra

Published on: 8:02 am

Yes Bank stock in focus today. RBI reprimanded the private lender for selectively revealing a “confidential” report by the regulator that led to a 30% surge in the lender’s shares on Thursday, calling the disclosure a “deliberate attempt” to mislead the public.
Baring, Bain and Hero Fincorp are in talks to buy a 10% stake in DHFL, as per ET. Read more.

Tech Mahindra board to meet on Feb 21 to consider share buyback

Published on: 8:00 am

Tech Mahindra in its filing to the exchanges informed that its board will meet on February 21 to consider share buyback proposal.
The announcement was made on Saturday. Read more.

What not to miss today

Published on: 7:47 am

Markets to open higher; Nifty support @10620, resistance 10830.
US, Asian markets up amid trade optimism.
Dr Reddy’s receives inspection closure report from USFDA for Duvada facility.
RBI warns Yes Bank on violating rules by revealing nil divergence report. Read more.

FII and DII Data

Published on: 7:44 am

FII/DII Data: In Friday’s trading session FIIs sold 966cr stock in cash whereas DIIs bought 853cr worth of stock. In the derivative market, FIIs sold 1054cr of Index futures and sold 618cr worth of Index options. In the Stock futures segment, FIIs bought 131cr worth of stock futures and bought 427cr stock options.
FII View: FIIs created bearish positions in derivative segment which is deduced by the fact that they created 13,216 net short contracts in the Index Futures segment while creating 4,552 net long contracts Index Put Options. The long-short ratio in Index Futures currently stands at 1.3x vs 1.4x.

FII	OI (in000's)	% Chg	% Chg Since Expiry	Long/ Short Ratio	Long/Short Since Expiry
Index Long	186	0	71	0.9	1.3
Index Short	207	7	31	0.9	1.3
Index Call Long	223	(2)	24	2.6	0.8
Index Call Short	86	9	49	2.6	0.8
Index Put Long	380	4	34	2.2	1.1
Index Put Short	174	6	21	2.2	1.1

SGX Nifty indicates a positive opening for the Indian markets

Published on: 7:40 am

SGX Nifty is at 10,755, up 21 points.
For today, expect global cues to see some bullishness with the overhang of geopolitical risk lurking as the Government promises to retaliate the Kashmir killings. Read more.

derivative watch

Published on: 7:25 am

Nifty & Bank Nifty future witnessed an addition in open interest indicating a buildup of short positions.
On the options front, long vega positions were the flavor of the day as wild swings in the index along with the rise in volatility resulted in a positive payoff for the option buyers.
Open positions were added in both out of the money call and put option strikes along with a rise in implied volatility, indicating a possibility of a continued volatile scenario for the index going forward. India Vix ended the session 4.3% higher at 16.46.
BPCL added long positions while Page Industries added fresh short positions.

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Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.