Latest News and Updates

22nd Feb, 2019

Markets end dull session; midcaps outperform

Published on: 4:23 pm

  • Indian equity markets traded in a narrow range throughout the day with the Nifty closing only 2 points higher.
  • Metal stocks were among the top outperformers today with JSW Steel & Jindal Steel closing 3%/2% higher, respectively. BEML & PEL added fresh open interest to the tune of ~22%/20% respectively along with a surge in their underlying stock prices, indicating a formation of long positions.
  • The market breadth ended in favor of advances with the advance/decline ratio closing at 2:1x. Read more

Sensex, Nifty end flat; Kotak Mahindra Bank, RIL stocks down

Published on: 3:33 pm

  • Benchmark indices ended on a flat note on Friday. Broader markets outperformed with the Nifty MidCap up by 0.4%, meanwhile, the Nifty Smallcap was up by 0.9%.
  • The Sensex ended lower by 27 points at 3,5871, while Nifty was up mere two points at 10,792. Around 1,168 shares have advanced, 559 shares declined, and 337 shares are unchanged.
  • IOC, HPCL, JSW Steel, Vedanta and Yes Bank were the top gainers, while Kotak Mahindra Bank, GAIL, HDFC Bank, Reliance Industries and Cipla were the top losers on the Nifty.

Nifty Auto up 1.3% led by Motherson Sumi, TVS Motors

Published on: 2:43 pm

Suzlon stock surges 22%

Published on: 2:32 pm

  • Shares of Suzlon surged 22% on the BSE in an otherwise dull market. The company experienced a spurt in volumes by more than 3.61 times.
  • Suzlon Energy Ltd is currently trading at Rs5.39 up by Rs0.96 or 21.67% from its previous closing of Rs4.43 on the BSE. The scrip opened at Rs4.53 and has touched a high and low of Rs5.60 and Rs4.50 respectively.
  • Rating agency CARE on February 20 has withdrawn its rating assigned to the proposed commercial paper issue of the Company since the Company has neither placed the proposed commercial paper issue nor intends to do so. Read more

Bata India stock extends gains; hits 52-week high

Published on: 2:17 pm

  • Shares of Bata India hit a new high on the BSE in today’s trade. The stock zoomed 50% in the past four months after strong Q3FY19 numbers.
  • The adjusted net profit for the quarter stood at Rs103.18cr, up 51.4% yoy and 85.4% qoq, and was above the estimates of Rs83cr. Revenue for Q3FY19 came in at Rs779cr, up 15.5% yoy and 15.7% qoq. Read more

Prabhat Diary board approves scheme of amalgamation between Cheese Land Agro and itself

Published on: 1:52 pm

  • The Prabhat Diary board at its meeting held on 13th February has approved the scheme of amalgamation and arrangement under section 230-233 of the Companies Act, 2013 for the merger of Cheese Land Agro (India) Private subsidiary of the Company, with itself, subject to such approvals as may be required.
  • Prabhat diary made the announcement in an exchange filing on Friday morning. Reacting to the news, shares of the company spurted ~3% intraday. Read more

Oil Marketing Companies gain; IOC surges 4%

Published on: 1:10 pm

  • Shares of oil marketing companies (OMCs) were trading higher in the afternoon session on Friday.
  • The BSE Oil and Gas index was trading 1.1% up at 13,648.44. Read more. 

Govt asks ONGC, Oil India to auction 66 oil and gas fields

Published on: 12:59 pm

  • India plans to sell 66 small oil and gas fields of ONGC and Oil India in order to increase production to reduce the import bill of fossil fuels.
  • ONGC and Oil India Ltd., who are struggling with low output from largely ageing fields, have a total of 184 fields. Read more. 

Dr. Reddy's Lab gains 2% after USFDA completes audit at Shrevepmi Plant

Published on: 12:48 pm

  • Shares of Dr. Reddys Lab gained in the afternoon session after the pharma company received zero observations for its plant. The US drug regulator (USFDA) completed the audit of the drugmaker’s Louisiana plant with zero observations, as per an NSE filing.
  • Dr. Reddy’s Laboratories Ltd is currently trading at Rs2,636 up by Rs50.5 or 1.95% from its previous closing of Rs2,585.50 on the BSE. The scrip opened at Rs2,614.80 and has touched a high and low of Rs2,642.35 and Rs2,558 respectively. Read more

Adani Group stocks gain; Adani Green Energy up 5%

Published on: 12:38 pm

  • Shares of Adani Group stocks gained in afternoon trade on Friday on the BSE.
  • According to media reports, Adani Group has made a formal offer to buy 23.5% stake in Mumbai airport. Read more. 

Live share market update: Markets trade flat in noon trade

Published on: 12:29 pm

  • Indian equity markets were trading flat in early afternoon trade on Friday with the Nifty trading 3 points lower at 10,787 while Bank Nifty was 166 points down at 26,885.
  • The correction in Bank Nifty was mainly due to a sharp slide in shares of Kotak Mahindra Bank, which was down ~4% following a block deal.
  • Meanwhile, traders remained on the sidelines ahead of the crucial trade talks between the US and China with the outcome expected over the weekend. Read more

Nifty hovers around 10,750 mark; IOC, HPCL stocks gain

Published on: 11:57 am

  • Equity benchmark indices were trading flat tracking tepid Asian cues amid fresh slowdown worries. The Sensex down 37 points to 35,860, while the Nifty was down 5 points at 10,784.
  • IOC, HPCL, Vedanta, and BPCL stock gained, while Kotak Mahindra Bank, RIL, and Cipla stock were trading lower on the NSE.
  • Volatility index India VIX was down 2.5% at 15.64.

Jet Airways gains after report holders approve bailout plan

Published on: 11:42 am

  • Shares of Jet Airways rose 1.5% on the BSE after media reports stated that the company’s shareholders are likely to have approved the company’s bank-led provisional resolution plan at its extraordinary general meeting on Thursday. Read more

Auto, Realty stocks lead in today’s trade

Published on: 11:05 am

  • Equity benchmark indices were oscillating between gains and losses in Friday's morning session amid mixed global cues. The Sensex rose slightly 13 points to 35,912, while the Nifty was up 3 points at 10,793.
  • The market breadth was positive with 1,124 shares advancing, 491 shares declining, and 440 remaining unchanged.
  • The Nifty Auto index rose over 1% at 8,264.25 led by Motherson SumiTVS MotorMarutiHero MotoCorp, and  M&M which gained 2-1%, respectively. Read more

Kaveri Seed Company stock down on license suspension

Published on: 11:05 am

  • Kaveri Seed Company shares were trading in the red on Friday erasing gains made earlier in the day. Shares of the company were trading down ~1% after the company mentioned in an exchange filing that the government of Andhra Pradesh has suspended the licenses of 14 seed companies including that of  Kaveri Seed Company on 28th January, 2019. Read more

Rupee gains 4 paise against US Dollar

Published on: 10:20 am

  • The Indian rupee opened on a flat note on Friday.
  • However, it gained after opening flat against the US dollar amid a dip in crude oil prices and fresh foreign fund inflows. Read more. 

Kotak Mahindra Bank stock slips 4% after block deal

Published on: 9:59 am

  • Kotak Mahindra Bank slipped in morning trade on the NSE. Around 5.87cr shares or 3% equity shares changed hands in a block deal, as per media reports.
  • Meanwhile, the buyers and sellers were not immediately known. Read more. 

BEL signs MoU with JSR Dynamics; stock gains 1%

Published on: 9:50 am

  • Navratna Defence PSU Bharat Electronics Ltd (BEL) has on February 20, 2019, signed an MoU with JSR Dynamics Pvt Ltd (JSR), a Nagpur-based start-up Company, at Aero India 2019 in Bengaluru.
  • The MoU aims at leveraging the individual design and manufacturing capabilities of BEL and JSR to develop weapons and light weight cruise missiles, which have business potential in both the domestic and international markets. Read more. 

Sensex, Nifty trade lower; Kotak Mahindra stock slips 3.5%

Published on: 9:41 am

  • Equity benchmark indices snapped two days' rally and opened lower on Friday amid weak global cues. Nifty Auto, IT, Pharma, and Realty indices are trading in the green, while Nifty Metal, Media, and Bank indices were are in the negative zone.
  • The Sensex slipped 64 points to 35,834, while the Nifty was down 18 points at 10,772. The market breadth was negative with 945 shares advancing, 594 shares declining, and 498 remaining unchanged.
  • The BSE MidCap index was trading marginally up 7 points at 14,123, while BSE SmallCap was trading at 13,418, up 4 points. Read more

Piramal extends gain; climbs ~2% on getting exemption for Saridon

Published on: 9:35 am

  • Piramal Enterprises stock extended their gain from Thursday evening after it announced in an exchange filing that the Supreme Court of India has ruled in favor of Saridon, a heritage brand from the healthcare product portfolio of Piramal Enterprises Limited (PEL), exempting its formulation from the list of banned FDCs (fixed dose combinations). Shares of the company gained ~1.5% in early morning trade on Friday. Read more

Nifty holds 10,750 mark; Kotak Mahindra slips 4% after block deal

Published on: 9:20 am

  • Equity benchmark indices snapped two day’s rally and opened lower on Friday amid weak global cues.
  • The Sensex slipped 0.19% to 35,832 and the Nifty50 down 15 points at 10,763.
  • BPCL, HPCL, and IOC, were the top gainers, while losers is Kotak Mahindra Bank loser on the NSE.
  • Kotak Mahindra Bank stock slipped after 5.87cr or 3% equity shares change hands in six block deals, as per media reports.

Asian markets trade mixed on Friday

Published on: 9:17 am

  • Asian stock markets were trading mixed on Friday following weak US economic data overnight as officials from the Trump administration continue ongoing trade discussions with their Chinese counterparts.
  • President Donald Trump said recently that it was not a "magical date," raising speculation over the possibility of the deadline being extended, as per media reports. Read more.  

ING to sell stake in Kotak Mahindra Bank: Media report

Published on: 8:35 am

  • Dutch financial major ING Group will offload around 1.20% stake in Kotak Mahindra Bank through a block deal on Friday.
  • The offer price will be at 3-5% discount to the Thursday’s closing price, as per media reports. Read more. 

Top stocks in focus: Kotak Mahindra Bank, ONGC, Kaveri Seed, Oil India

Published on: 8:30 am

  • ING Group will offload around 1.20% stake in Kotak Mahindra Bank via block deal on Friday. The offer price will be at 3-5% discount to the Thursday’s closing price, as per media reports.
  • Kaveri Seed clarified that the government of Andhra Pradesh had suspended the licenses of 14 Seed Companies including the Kaveri Seed Company on January 28. The Company said that filed the reply within the time period and the said suspension will have no impact on the budgeted sales of the company. Read more

SGX Nifty indicates a marginally negative opening for the Indian Market

Published on: 8:16 am

  • SGX Nifty is at 10,787.50, down 26 points. Nifty saw a rally second day running as foreign investors bought aggressively along with local mutual funds.The markets were oversold & due for a pullback with midcaps also participating. Dovish stance by Federal Reserve & the Reserve Bank along with a stronger Rupee should inspire confidence as earnings have started to improve. The despondency may be overdone, however the geopolitical overhang remains as the threat of another surgical strike exists. Read more

Broker Radar for February 22

Published on: 8:08 am

Citi maintained ‘Neutral ‘on BHEL; cut TP to Rs70 from Rs84.
  • Revise our EPS estimates downwards by 8-13% over FY19E-21.
  • Cut target multiple to 18 times from 20 times on sectoral derating. Read more. 

What not to miss today

Published on: 7:47 am

  • Markets to open slightly lower; Nifty support @10721, resistance 10840.
  • US markets end in red on disappointing data, earnings; Asian markets follow suit.
  •  FIIs bought 55cr (cash), sold 472cr in Index Futures.
  • ING to sell 1.20% stake in Kotak Mahindra Bank. Read more

FII and DII Data

Published on: 7:45 am

FII/DII Data:  In yesterday’s trading session FIIs bought 55 crores stock in the cash market whereas DIIs bought 202 crores worth of stock. In the derivative market, FIIs sold 472cr of Index futures and bought 1563cr worth of Index options. In the Stock futures segment, FII’s bought 300 crores worth of stock futures and sold 160cr stock options.

FII View: FIIs trimmed their bullish positions in the derivative segment which is deduced by the fact that they reduced 8,074 long contracts in the Index Futures while simultaneously reducing 2,410 long contracts in Index Capp options. The long-short ratio in Index.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 189 (4) 74 0.9 1.4
Index Short 201 (1) 28
Index Call Long 232 (5) 29 2.8 0.9
Index Call Short 82 (10) 43
Index Put Long 360 (7) 27 2.2 1.1
Index Put Short 162 (8) 12

Bulk deal

Published on: 7:35 am

  • Hinduja Global Solutions: Fidelity Funds acquired 2.8 lakh shares or 1.33% equity at Rs591 each. 

Derivative Watch

Published on: 7:16 am

  • Nifty & Bank Nifty Call writers ran for cover for the second day in a row as the indices trend higher.
  • Canfin Homes 275CE surged 8.7x with an addition of open interest to the tune of 600%, indicating a continued upward momentum for the stock.
  • TechMahindra & Just Dial added long positions while Reliance Capital &  Exide witnessed short covering

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