Latest news and update

25th Feb, 2019

Lupin gets USFDA approval for Methylprednisolone tablets USP

Published on: 4:23 pm

  • Pharma major Lupin has received approval for its Methylprednisolone Tablets USP, 2 mg, 4 mg, 8 mg, 16 mg and 32 mg, from the USFDA to market a generic version of Pharmacia and Upjohn Company's Medrol tablets, 2 mg, 4 mg, 8 mg, 16 mg and 32 mg.
  • Lupin's Methylprednisolone Tablets USP, 2 mg, 4 mg, 8 mg, 16 mg, and 32 mg, is the generic version of Pharmacia and Upjohn Company's Medrol Tablets, 2 mg, 4 mg, 8 mg, 16 mg and 32 mg, the company said in a regulatory filing. Read more

Markets end at high point of day; Nifty up 88 points

Published on: 4:09 pm

  • Indian equity markets witnessed a stellar rally on Monday with benchmark indices ending near their high point of the day. Nifty ended the session 88 points higher at 10,880 while Bank Nifty settled 291 points higher at 27,159 led by a strong rally in HDFC and ICICI Banks.
  • A global rally in equity markets was witnessed on the day with the Shanghai Composite Index ending the session 5.6% higher owing to the extension of President Trump's tariff deadline. Read more

Nifty settles above 10,880 mark; TCS, Grasim stocks gain

Published on: 3:34 pm

  • Equity benchmark indices ended nearly 1% higher on Monday’s trade ahead of February F&O expiry. The stock markets extended gains in the afternoon trade buoyed by a rally in IT bluechips. The Nifty Realty Index was the top sectoral loser, down 0.73%.
  • TCS, Grasim Industries, and Yes Bank were the top gainers on the Nifty, while losers were Adani Ports, Bharti Infratel, and BPCL.
  • The Sensex soared 342 points higher at 36,213, while the Nifty ended 88 points higher at 10,880. 

Nifty above 10,850 mark; Motherson Sumi stock surges 10%

Published on: 3:11 pm

  • Equity benchmark indices extended gain in the last hour of trading session on today’s trade.
  • The Nifty Auto index gained 1% led by gains in Motherson Sumi, Ashok Leyland, Hero MotoCorp, and Bosch.
  • The Sensex climbed 338 points to 36,210, while the Nifty was up 87 points at 10,878.

HG Infra emerges as L-1 bidder for HAM project under NHAI

Published on: 2:35 pm

  • HG Infra in its press note to the exchanges informed on Monday that the company has emerged as the lowest bidder for the new HAM project under NHAI.
  • The work includes construction of proposed Narnaul Bypass (design length 24.0 km)-Ateli Mandi to Narnaul section of NH-11 from 43.445km to 56.900km (design length 14.0 kin) as an Economic Corridor-Feeder route in the state of Haryana on Hybrid Annuity Mode, the company said in a press note on Monday. Read more

Nifty Auto gains 1% led by Motherson Sumi, Exide, Hero MotoCorp

Published on: 2:05 pm

  • The Nifty Auto index gained 1% on Monday on strong buying in Motherson SumiExide IndustriesHero MotoCorp, and Ashok Leyland.
  • Shares of Motherson Sumi, which climbed ~10%, were leading the index’s gain. Shares of Exide Industries, which gained 2%, and Hero MotoCorp, Bosch, and Ashok Leyland, which gained 1% each, also contributed to the climb. Read more

Sharda Motor soars 19% ahead of board meeting

Published on: 2:04 pm

  • Shares of Sharda Motor Industries soared 19% on the BSE in intraday trade on Monday ahead of its board meeting today to consider the matter of demerger of automobile seating business.
  • The company experienced a spurt in volumes by more than 9.89 times.
  • The company said that it has received information from the promoter(s)/director(s) of the company that they have entered into a Memorandum of Family Settlement (MOFS). Read more

Live share market update: Markets surge in tandem with Asian peers

Published on: 1:35 pm

  • Indian equity markets continued to trade with a positive bias in early afternoon trade on Monday. The benchmark indices were trading near the high point of the day, Nifty was up 43 points at 10835, while Bank Nifty was 199 points higher at 27067.
  • All the sectoral indices barring Nifty PSU Bank were trading in the green with Nifty Auto being the top performer, up 0.84%, led by strong gains in Motherson Sumi, which was trading 10% higher at 157. Read more

Sensex, Nifty at day's high; Auto, IT stocks gain

Published on: 1:33 pm

  • Equity benchmark indices extended gains in the afternoon session on Monday’s trade amid strong global cues.
  • IT, auto, pharma, private bank, and realty stocks surged, while media and PSU banking stocks were in the red.
  • The Sensex jumped 186 points to 36,053, while the Nifty was up 46 points at 10,838. The market breadth was positive with 1,067 shares advancing, 630 shares declining, and 384 remaining unchanged.

RPP Infra Projects wins new order of Rs105.7cr

Published on: 12:53 pm

  • RPP Infra Projects has secured an LoA (Letter of Acceptance) worth Rs105.7cr on from the Tamil Nadu Slum Clearance Board for construction of 972 tenements at Moorthingar Street in Chennai. This project falls under the prestigious Housing for All (PMAY) scheme of the Government of India, the company said in the filing.
  • The company's order book at the end of Q3FY19 stood at over Rs1,555cr, after which, it has won new orders worth over Rs490cr. Read more

Nifty IT index trades flat; Wipro stock up 1%

Published on: 12:08 pm

  • The Nifty IT index was trading flat at 15,755.30 on Monday. TCSMindtreeNIIT Tech, and Infosys were up 1% each. Followed by OFSS, and Wipro, which were also up 1% respectively.
  • Shares of Wipro hit 19-year high on the BSE, after the company fixed March 7, 2019, as the record date to determine eligible shareholders entitled to receive the bonus equity shares.
  • InfibeamTech MahindraTata Elxsi, and HCL Tech were trading lower on the NSE index. Read more

APSEZ slips ~8% after unit agrees to buy AEL's agri arm

Published on: 11:54 am

  • Shares of Adani Port & Special Economic Zone (APSEZ) slipped ~8% on Monday to be among the top loser on the NSE. The company informed that its subsidiary Adani Logistics will acquire Adani Agri Logistics in a cash deal from Adani Enterprises (AEL). The deal is expected to be completed by the end of March 2019. Read more

Sensex, Nifty trade higher; UPL, Dr. Reddy’s stocks gain

Published on: 11:45 am

  • Equity benchmark indices were trading in the positive zone on Monday’s trade. The Sensex rose 102 points to 35,974, while the Nifty up 22 points at 10,812. The market breadth was positive with 1,031 shares advancing, 627 shares declining, and 420 remaining unchanged.
  • Shares of Wipro hit high of Rs383.35 apiece, up 1% on the BSE, after the company fixed March 7, 2019, as the record date to determine eligible shareholders entitled to receive the bonus equity shares.
  • UPL, Dr. Reddy’s, and ICICI Bank were the top gainers, while Adani Ports, Infratel, and BPCL were the top losers.

GVK Power & Infrastructure stock surges 12%

Published on: 11:35 am

  • Shares of GVK Power & Infrastructure surged 12% on Monday after the company increased its equity stake in Mumbai International Airport to 64%. The announcement was made to the exchanges on Saturday.
  • GVK Airport Holdings Ltd, a subsidiary of publicly traded GVK Power and Infrastructure Ltd, has acquired a 13.5% stake in Bid Services Division (Mauritius) Ltd (a subsidiary of Bidvest Group Ltd), in Mumbai International Airport Ltd (MIAL), the company said in the regulatory filing. Read more

Sharon Bio-Medicine gets four USFDA observations after Taloja inspection

Published on: 11:18 am

  • Shares of Sharon Bio-Medicine hit their 5% upper circuit on the BSE on Monday after the company announced the outcome of the US health regulators inspection. The company’s API facility at Taloja in Maharashtra has received four Form 483 observations from the USFDA post their inspection, as per the company's filing with the BSE. Read more

JBM Auto stock jumps 6% after group buys Germany's Linde-Wiemann

Published on: 11:00 am

  • Shares of JBM Auto surged 6.5% in Monday’s morning trade on the BSE. JBM Group, the $1.5bn conglomerate with business interest in auto systems & assemblies has acquired major shareholding in Germany based Linde-Wiemann GmbH KG.
  • The acquisition brings to the foray a plethora of synergies for JBM Group in the form of new products, global customers, new German technologies that will not only help in expanding the global footprint of the home grown conglomerate but will also aid in adding strategic value to its Indian operations, thereby increasing the Group's long-term competitiveness. Read more

Nifty Realty stocks gain after GST rate cut; Unitech up 4%

Published on: 10:44 am

Rupee spurts 11 paise against US dollar in morning trade

Published on: 10:25 am

  • The Indian rupee opened higher at 70.98 against the US dollar on Monday. Currently, it has gained 11 paise at 71.02/$.
  • Moreover, the weakness in the dollar against some other currencies overseas as expectations of a trade deal between the US and China and foreign capital inflows in the domestic equity markets supported the rupee.
  • The local unit had gained 10 paise on Friday to at 71.14 against the US dollar. Read more

Nifty above 10,800 mark; Realty stocks lead

Published on: 9:19 am

  • Equity benchmark indices opened higher amid strong global cues. The BSE Sensex opened up 0.31% at 35,984 points, and the Nifty at 10,813 points, 0.20%.
  • Indiabulls Housing, JSW Steel, Tata Motors, and Maruti Suzuki were among the top Nifty gainers in the opening trade while, Adani Ports, Bharti Infratel, BPCL, Power Grid Corp and IOC were among the top Nifty losers.
  • The Indian rupee gained by 12 paise at 71.02 per dollar in the early trade on Monday. 

Adani Logistics to acquire Adani Agri Logistics from AEL

Published on: 9:18 am

  • Adani Port and Special Economic Zone in its filing to the exchanges informed that its subsidiary Adani Logistics will acquire Adani Agri Logistics in a cash deal from Adani Enterprises. The deal is expected to be completed by the end of March 2019. Read more

Corporation Bank received Rs9,086cr from government

Published on: 8:47 am

  • Corporation Bank in its filing to the exchanges informed that the bank has received Rs9,086cr towards the contribution of the government of India in the preferential allotment of equity shares (Specialised Securities/Bonds) of the bank.
  • "The same has been credited to Share Application Money Pending Allotment Account", the bank said in a press note after market hours to the exchanges on Friday. Read more

Asian markets gain after US extends China tariff deadline

Published on: 8:41 am

  • Asian stock markets were trading higher on Monday after US President Trump announced a postponement of a closely-watched deadline on March 01, 2019. US President Donald Trump announced in a series of posts on Twitter that America is planning to delay a set of additional tariffs on Chinese goods that were due to kick in on March 01 , as per media reports.
  • Shanghai composite jumped 2%, the Nikkei 225 advanced 0.71% followed Topix, South Korea’s Kospi and Australia’s ASX 200 were trading higher. Read more

RBI to merge 3 categories of NBFCs to create a new category

Published on: 8:27 am

  • The Reserve Bank of India (RBI) will merge three categories of Non-Banking Financial Companies (NBFCs) into a new one to create a new category called NBFC-ICC.
  • Accordingly, the RBI has decided to merge the three categories of NBFCs viz. Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs) into a new category called NBFC - Investment and Credit Company (NBFC-ICC), the central bank said in a notification released on Friday. Read more

Top stocks in focus: Indiabulls Real Estate, Kotak Mahindra Bank, Suzlon, Adani Ports

Published on: 8:12 am

  • Indiabulls Real EstateOberoi RealtyGodrej Properties stocks in focus today. The GST Council has approved the much awaited and largely expected rate cut for normal under-construction properties to 5% from 12% earlier without income tax credit, 1% for affordable housing category. 
  • NBFC stocks in focus today. The RBI has decided to merge the three categories of NBFCs viz. Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs) into a new category called NBFC - Investment and Credit Company (NBFC-ICC). Read more

Current FII data

Published on: 8:10 am

FII/DII Data: In Friday’s trading session, FIIs bought 6311cr stock in the cash market, whereas DIIs bought 838cr worth of stock. In the derivative market, FIIs bought 75cr of Index futures and bought 6cr worth of Index options. In the Stock futures segment, FIIs sold 1086cr worth of stock futures and sold 52cr stock options

FII View: FIIs trimmed bullish positions in the derivative segment, which is deduced by the fact that they reduced 553 long contracts in the Index Futures, while simultaneously reducing 3551 long contracts in Index Call Options. The long-short ratio in Index Futures currently stands at 1.4 x.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 188 (0) 73 0.9 1.4
Index Short 200 (1) 27
Index Call Long 229 (2) 27 2.7 0.8
Index Call Short 86 5 50
Index Put Long 363 1 28 2.4 1.2
Index Put Short 153 (6) 6

SGX Nifty indicating a positive opening for markets

Published on: 8:09 am

  • SGX Nifty is at 10828, up 21 points. For today, relief on tax cuts in real estate could see some more gains in that sector as demand could see more traction.
  • On Friday, Nifty saw another range-bound session with the index closing marginally in the red even as the broader market outperformed.
  • Metals, auto, and reality stocks outperformed even as private banks and financial services stocks saw profit booking. We expect another day of consolidation with the broader market seeing more traction. Read more.

Bulk deal

Published on: 8:08 am

  • Kotak Mahindra Bank: ING Mauritius Investments sold 5.84 crore shares or 3.06 percent equity at Rs 1228.51 each.
  • Stride Pharma: Promoter Abusha Investment & Management Services sold 5lakh shares or 0.56% equity at Rs423 each.
  • Stride Pharma: Lifecell International acquired 5lakh shares or 0.56% equity at Rs423 each.
 

What not to miss today

Published on: 7:52 am

  • Markets to open higher; Nifty support @10730, resistance 10840.
  • FIIs purchased 6311cr (cash), 75cr in Index Futures.
  • US, Asian stocks gain as Trump extends China tariffs deadline.
  • GST cut from 12% to 5% on non-affordable properties; 1% for affordable housing category. Read more.

Derivative watch

Published on: 7:32 am

  • BEML & PEL added fresh open interest to the tune of ~22%/20% along with a surge in their underlying stock price, indicating a formation of long positions.
  • Bank Nifty Futures remained under selling pressure on account of the buildup of fresh short positions.
  • On the options front, short positions were built in OTM call strikes with 27,100CE and 27,200CE witnessing an addition ~2.5 lakh shares and ~2.2 lakh shares, respectively.

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