Latest news and updates

19th Feb, 2019

Indices end in red as TCS, Infosys drag

Published on: 3:33 pm

  • Equity benchmark indices in the negative zone as selling pressure were seen in the last hour of trading session.
  • The Sensex fell 146 points at 35,353, while Nifty slipped 37 points at 10,604. Around 992 shares have advanced, 705 shares declined, and 366 shares remained unchanged.
  • Wipro, TCS, and IndusInd Bank were the top losers while, Vedanta, Grasim Industries, and BPCL were the top gainers on the NSE.

Kaveri Seed hits 52-week low

Published on: 3:21 pm

  • Shares of Kaveri Seed Company extended decline and hit 52-week low at Rs399 on the BSE on Tuesday’s trade.
  • The stock fell nearly 16% in past four sessions after the company reported a weak set of numbers in Q3FY19. Read more

Sensex, Nifty turn negative; TCS, Infosys stock drag

Published on: 3:01 pm

  • Equity benchmark indices erased afternoon gains and slipped into the negative zone amid selling pressure were seen in TCS, Infosys, and HDFC.
  • The Sensex rose 254 points at 35,753, while the Nifty was up 77 points at 10,700. The market breadth was positive with 1,053 shares advancing, 653 shares declining, and 357 remaining unchanged.
  • Vedanta, BPCL, and Grasim were among the top gainers, while Wipro, NTPC, Infosys, and TCS were the losers in today’s session.

Tata Sons buys stake in Tata Motors

Published on: 2:38 pm

  • Tata Sons has bought 1.1.8cr shares of Tata Motors valued at Rs183cr from the open market, a regulatory filing has revealed.
  • The Tata Group parent company bought the stake in Tata Motors after a weak third quarter performance from the latter’s UK subsidiary Jaguar Land Rover (JLR). Tata Motors reported its biggest-ever quarterly loss in Q3FY19, which led to a steep fall in its stock price. Read more

OMCs gain as Brent eases from 2019 highs

Published on: 2:23 pm

Care Ratings downgrades Tata Motors to AA from AA+

Published on: 2:07 pm

  • Tata Motors announced in a regulatory filing on Tuesday morning that CARE Ratings' Credit Research has downgraded the company's credit rating to AA from AA+. The rating revision is for its long term bank facilities and non-convertible debentures. The revised rating indicates that the outlook is stable. 
  • Tata Motors Ltd is currently trading at Rs165 up by Rs2 or 1.23% from its previous closing of Rs163 on the BSE. Read more

Nifty PSU Bank up ~3%; Bank of India surges 5%

Published on: 2:06 pm

  • The Nifty PSU Bank index extended gains in the afternoon session amid heavy buying in stocks of Bank of IndiaIndian BankBank of Baroda, and IDBI Bank. The banking index snapped two day’s decline and is trading ~3% higher at 2,734.55. The index opened at 2,670.90 and hit a high of 2,736.25 and low of 2,666.05.
  • Shares of Bank of India and Indian Bank gained over 4% each and were the top performers on the index, while shares of PNB also contributed to the gains by rising 3%.  SBICanara BankSyndicate Bank also rose 2% each. Read more

Live share market update: Markets surge; Nifty trades near high point of the day

Published on: 1:32 pm

  • Indian equity markets continue to trend higher with benchmark indices trading near the high point of the day.
  • Nifty was up 78 points at 10,719, while Bank Nifty was 329 points higher at 26,983.
  • However, the real action was in the midcap space with Nifty Midcap 50 and Nifty Nidcap100 index surging 1.21% and 1.01% higher, respectively. Read more

Nifty above 10,700 mark; BPCL, Vedanta stocks lead

Published on: 1:16 pm

  • Equity benchmark indices were trading higher led by gains in ICICI Bank, RIL, ITC and L&T. On the sectoral front, PSU Bank, realty, and media stocks surged over 2%.
  • The Sensex rose 254 points at 35,753, while the Nifty was up 77 points at 10,700. The market breadth was positive with 1,079 shares advancing, 556 shares declining, and 424 remaining unchanged.
  • Vedanta, ICICI Bank, and BPCL were among the top gainers, while NTPC, Infosys, and TCS were the losers in today’s session.

Chinese negotiators head back to Washington for more talks

Published on: 1:12 pm

  • Chinese and US trade negotiators will start the next round of talks this week in Washington, after discussions in Beijing last week that President Donald Trump called "very productive."
  • The talks will begin on Tuesday, White House Spokeswoman Sarah Sanders said, with Vice Premier Liu He then meeting with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on February 21-22, according to a statement from China’s Commerce Ministry. Read more. 

K'taka pollution control board asks Graphite India to shut Whitefield plant

Published on: 12:23 pm

  • Karnataka State Pollution Control Board (KSPCB) has informed Graphite India to shut down operations at its Whitefield, Bengaluru, plant. Shares of the company fell 2% on the bourses on Tuesday.
  • This order is pursuant to the order dated January 28 from the National Green Tribunal (NGT) New Delhi bench. The company operates graphite furnaces at the plant which it has been shutting down in a phased manner after the order.
  • Graphite India Ltd share price is currently at Rs403.80, down Rs8.3, or 2.01%, from its previous close of Rs412.10 on the BSE. Read more

Sensex, Nifty trade higher; Emami surges 13%

Published on: 12:06 pm

  • Equity benchmark indices were trading higher led by gains in RIL, ICICI Bank, ITC and HDFC Bank. The broader market indices are outperforming their frontline peers.
  • The Sensex rose 136 points at 35,635, while the Nifty was up 36 points at 10,677. The market breadth was positive with 1,079 shares advancing, 556 shares declining, and 424 remaining unchanged.

Emami, ITC lift Nifty FMCG index in today’s trade

Published on: 11:37 am

Nifty Realty up 2%; Prestige, Unitech lead rally

Published on: 11:33 am

Varun Beverages stock gains 2% after foreign brokerage view

Published on: 11:06 am

  • Shares of Varun Beverages gained 2% in the morning session after foreign brokerage house CLSA maintained a buy call on the stock. CLSA has a price target for the stock at Rs985, implying a 2% potential upside from February 18 level, the media report stated.
  • The brokerage house said that the valuations of franchise rights for South and West region from PepsiCo are in-line with expectations.
  • The brokerage house said the regions are highly underpenetrated and hence would improve growth visibility for the company, the report added. Read more

Emami stock spurts 8% after founders divest 10% stake in company

Published on: 10:52 am

  • Shares of Emami extended its morning gain on Tuesday’ trade after the promoters of the company sold 10% stake to pare company's debt. 
  • Emami group, in its filing to the exchanges, informed that its promoters sold 10% stake in Emami Ltd for ~Rs1,600cr to pare debt.
  • "The transaction was executed on the stock exchange today (February 18) and the purchasers included SBI Mutual Fund, PremjiInvest, Amundi, IDFC, L&T Mutual Fund, and others," the company said in a press note aftermarket hours to the exchanges on Monday. Read more

Edelweiss gains ~2% post block deal

Published on: 10:49 am

  • Shares of Edelweiss Finanancial Services gained 2% in intraday trade on Tuesday after 15 lakh shares of the company were traded in a block deal.
  • Shares rose to a high of Rs140.60 on the BSE, a gain of Rs5.1 or ~4% as against its opening of Rs135.5. Read more

63 Moons Technologies climbs 8% on reports of filing lawsuit against P Chidambaram

Published on: 10:40 am

  • Shares of 63 Moons Technologies, formerly known as Financial Technologies Group, rose 8% on Tuesday after a PTI report stated that the company has filed a lawsuit against former finance minister P Chidambaram and two bureaucrats in NSEL case.
  • As per the report, the company has sent a notice to Chidambaram, K P Krishnanan additional Secretary at the Finance Ministry, and former Forward Markets Commission (FMC) Chairman Ramesh Abhishek for allegedly destroying the ecosystem and causing huge damage to the company's shareholders. Read more. 

Sensex up over 150 points; Emami stock gains 2.5%

Published on: 10:10 am

  • Equity benchmark indices opened on a flat note despite firm Asian cues.
  • The Sensex rose 169 points at 35,667, while the Nifty was up 45 points at 10,689. Read more. 

NLC gains 2% on signing MoU with NHPC

Published on: 10:00 am

  • Shares of NLC gained 2% after the company inked an MoU with NHPC on power trading.
  • "As per MoU, NHPC and NLC will offer surplus power available in the Northern and North East Region to the bulk consumers in Southern Region at an affordable tariff. Read more.

Forex, Debt market shut on Tuesday for Shivaji Jayanti

Published on: 10:00 am

  • The rupee and debt markets will remain shut on Tuesday on account of Chatrapati Shivaji Maharaj Jayanti.
  • The rupee and bond market would resume on Wednesday.Read more. 

Ambuja Cements Ltd's Q4CY18 standalone Adj. net profit declines 36.6% yoy to Rs214.5cr : Misses Esti

Published on: 9:30 am

  • Ambuja Cements (ACL) reported Q4CY18 numbers significantly below estimates on the operating fronts.
  • Company reported revenue of Rs2,863.3cr (in-line with estimates) led by volume growth of 4.4% yoy. Read more. 

Nifty above 10,650 mark; Yes Bank stock up 2%

Published on: 9:19 am

  • The Sensex was trading at 35,510, up 12 points, while the broader Nifty50 was ruling at 10,647, up 6 points.
  • Shares of Emami jumped 3% in the morning trade as the Agarwal and Goenka families - promoters in Emami Ltd - have sold 10% of their stakes for Rs1,600cr to pare the debts of other Group companies like Emami Cement, Emami Power and others.
  • The currency market shut today on account of Chatrapati Shivaji Maharaj Jayanti.

Grasim Industries to buy KPR's Chlor-Alkali Business for Rs253cr

Published on: 8:37 am

  • Grasim Industries signed a definitive agreement to acquire the Chlor-Alkali Business (CAB) of KPR Industries (India) Ltd (KPR) by way of a slump sale, for a cash consideration of Rs253cr.
  • The transaction will be funded through internal accruals.Read more. 

Asian markets trade higher on Tuesday

Published on: 8:35 am

  • Asian markets were trading higher on Tuesday as investors hope that Sino-US trade talks were making positive progress and expectations of policy stimulus from central banks.
  • The White House said on Monday that trade talks between the two economic powerhouses will continue in Washington on Tuesday, with higher level negotiations starting later in the week, as per media reports. Read more. 

Cipla to acquire 11.71% stake in Wellthy Therapeutics

Published on: 8:30 am

  • Cipla’s wholly owned subsidiary Goldencross Pharma has inked the agreement with Wellthy Therapeutics to acquire 11.71% stake in the later.
  • The announcement was made after markets hours to the exchanges on Monday. Read more. 

Broker Radar for February 19

Published on: 8:30 am

Macquarie maintained ‘Outperform’ on Nestle with a TP of Rs12,994
  • Management has indicated 24-36 new product launches in 2019.
  • Management expects greater acceleration in key brands growth in 2019. Read more. 

Emami promoters’ sell 10% stake in Emami Ltd

Published on: 8:20 am

  • Emami group, in its filing to the exchanges, informed that its promoters sold 10% stake in Emami Ltd for ~Rs1,600cr to pare debt.
  • "The transaction was executed on the stock exchange today (February 18) and the purchasers included SBI Mutual Fund, PremjiInvest, Amundi, IDFC, L&T Mutual Fund, and others," the company said in a press note after market hours to the exchanges on Monday. Read more. 

Current FII data

Published on: 8:05 am

FII/DII Data: In yesterday’s trading session, FIIs sold 1239cr stock in cash, whereas DIIs bought 2336cr worth of stock. In the derivative market, FIIs sold 433cr of Index futures and sold 487cr worth of Index options. In the Stock futures segment, FIIs sold 71cr worth of stock futures and sold 96cr stock options.

FII View: FIIs created bearish positions in the derivative segment, which is deduced by the fact that they created 6207 net short contracts in the Index Futures segment while creating 6,938 short contracts Index Call Options. The long-short ratio in Index Futures currently stands at 1.3x.

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
Index Call Long 223 (2) 24 2.6 0.8
Index Call Short 86 9 49
Index Put Long 380 4 34 2.2 1.1
Index Put Short 174 6 21

SGX Nifty indicates positive opening for the Indian markets

Published on: 8:04 am

  • SGX Nifty is at 10674, up 21 points. The markets now seem oversold with large local buying getting mitigated with the sentiment turning weak.
  • On Monday, Nifty saw another volatile session end poorly with the index closing down another day. This came in as foreign investors turned cautious after the geopolitical risk rose over the weekend. The rupee closed lower, while a rise in crude also saw a marginal rise in bond yields. Read more.

Bulk deal

Published on: 8:02 am

  • Emami: SBI Mutual Fund acquired 2.04cr shares or 4.49%t equity at Rs355 per share.
  • Emami: PI Opportunities Fund acquired 56.3lakh shares or 1.24% equity at Rs355 per share.
  • Emami: Pioneer Investment Fund acquired 1.13cr shares or 2.48% equity at Rs355 per share.
  • Emami: Promoter Raviraj Viniyog, Amitabh Goenka and other promoters sold 3.27cr shares or 7.21% equity at Rs355 per share.

Top stocks in focus: Cipla, Emami, Grasim, Mindtree

Published on: 8:01 am

  • Cipla’s arm said it will acquire 11.7% stake in Wellthy Therapeutics for Rs10.5cr.
  • The deal is expected to be completed before March 10. Read more. 

What not to miss today

Published on: 7:48 am

  • Market to open higher; Nifty support @ 10597, 10775.
  • FIIs sold 1239.79cr (cash), 433cr in Index Futures.
  • US market closed for President’s Day; Asian mixed amid renewed US-China tensions.
  • Rupee depreciates 9 paise to 71.34/$. Read more.

derivative watch

Published on: 7:21 am

  • Nifty & Bank Nifty future witnessed an addition in open interest indicating a buildup of short positions.
  • On the options front, Nifty 10550PE added fresh long positions, indicating a continued downward momentum for the index.
  • Infratel and IGL added long positions, while Ambuja Cement and KPIT added fresh short positions.

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