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05th Mar, 2019

Nifty settles above 10,950 mark; Indiabulls HF, Eicher stocks gain

Published on: 3:33 pm

  • Equity benchmark indices ended near day's high with Nifty inching closer to the 11,000 mark. The India VIX declined by 2.7%. The rally was led by metals, auto and, PSU Banking stocks, while IT index was the only loser.
  • The Sensex jumped 379 points at 36,443, while Nifty ended higher 124 points at 10,988.
  • Indiabulls Housing, Eicher Motors, Tata Motors, HPCL and BPCL were the top gainers on the Nifty, while losers were Wipro, Tech Mahindra, Infosys, HUL and Cipla.

Rupee extends gain, up 42 paise against US Dollar

Published on: 3:20 pm

  • The India rupee extended gains in the afternoon session on Tuesday’s trade. Currently, the currency is up 42 paise at 70.48/$.
  • The local currency opened higher due to some selling in American currency by banks and exporters. The currency market remained closed on Monday on account of a public holiday. Read more

BSE Midcap index up ~2%; Shriram Transport Finance, Federal Bank stocks gain

Published on: 3:04 pm

Sensex rallies over 350 points; ICICI Bank, Axis Bank stocks gain

Published on: 3:00 pm

  • Equity benchmark indices extended gain in the last hour of trading session on Tuesday’s trade.
  • The Sensex rose 374 points to 36,437, while the Nifty was up 112 points to 10,976. The market breadth was positive with 1,503 shares advancing, 264 shares declining, and 318 remaining unchanged.
  • The most active stocks were Tata Motors, Indiabulls HF, Eicher, and Axis Bank.

Zydus Cadila gets USFDA approval for transdermal product; stock up ~3%

Published on: 2:55 pm

  • Zydus Cadila has received an approval from the USFDA to market Rivastigmine Transdermal System (US RLD-EXELON PATCH), 4.6 mg/24 hrs, 9.5 mg/24 hrs and 13.3 mg/24 hrs, marking its first approval for a transdermal product in the US.
  • It is indicated for the treatment of dementia (memory loss) associated with Alzheimer’s and Parkinson’s diseases. It will be manufactured at Zydus Technologies Ltd, the group’s manufacturing facility dedicated to the production of transdermals, located at SEZ, Ahmedabad. Read more

Sensex, Nifty at day's high; Midcap stocks gain

Published on: 2:15 pm

  • Equity benchmark indices were trading higher in afternoon trade. The stock market opened negative but recovered as the session progressed.
  • The Sensex rose 142 points to 36,205, while the Nifty was up 45 points to 10,909. The market breadth was positive with 1,465 shares advancing, 276 shares declining, and 344 remaining unchanged.

Steel Strips Wheels gets order for alloy wheels; stock surges 6%

Published on: 2:02 pm

  • Steel Strips Wheels Ltd (SSWL) surged 6% on the BSE after the company won an order worth Rs480cr. The company has bagged yet another long-term domestic order for the supply of alloy wheels for an Indian OEM from its Mehsana Alloy wheel plant.
  • The order comprises of 1.8mn alloy wheels distributed over the vehicle program life to be shipped from SSWL'S Mehsana plant from 2019 onwards. Read more

Auto, banking stocks gain; IT index down ~1%

Published on: 1:39 pm

Coal India gains 3% after output rises in February

Published on: 12:43 pm

  • Shares of Coal India gained 3% on the BSE in afternoon trade on Tuesday. The company has achieved a 6.6% growth rate in production during the 11 months of 2018-19, producing 527.7mn tonnes with offtake standing at 548.5mn tonnes.
  • The company’s production and offtake marked 99% and 99.5% achievement of the targets set for the April 2018-February 2019 period. Read more

Mishra Dhatu Nigam stock surges 13% after order win

Published on: 12:22 pm

  • Shares of Mishra Dhatu Nigam Limited (MIDHANI) surged 13% on the BSE in Tuesday’s trade. The company has secured one order worth ~Rs475cr.
  • The cumulative order booking during the FY18-19 is ~Rs1,800cr, the company said in its BSE filing. Read more

Live share market update: Markets reverse opening losses; Midcaps shimmer

Published on: 12:11 pm

  • Indian equity markets reversed their opening losses and are trading with a positive bias with across the board buying seen in major mid & smallcap names. The Nifty is up 26 points at 10,889, while Bank Nifty is up 84 points at 27,124.
  • Nifty and Bank Nifty futures have added fresh long positions in the first half of today’s trade. Read more

ICICI Lombard trades at 52-week high; stock soars 4%

Published on: 11:59 am

Reliance Infra bags AAI contract worth Rs648cr for new greenfield airport in Gujarat

Published on: 11:32 am

  • Reliance Infrastructure Limited E&C has received the Letter of Award (LOA) from the Airport Authority of India (AAI) for a contract worth Rs648cr for the construction of a greenfield Airport at Hirasar in Rajkot district of Gujarat.
  • Reliance Infrastructure Limited had participated in the tender for engineering, procurement, and construction (EPC) contract independently as the main contractor. Read more

Nifty above 10,850 mark; Tata Motors, Indiabulls HF stocks gain

Published on: 11:15 am

  • Equity benchmark indices erased morning losses and trading higher on Tuesday’s trade.
  • The Sensex rose 72 points to 36,136, while the Nifty was up 25 points at 10,888. The market breadth was positive with 1,388 shares advancing, 285 shares declining, and 409 remaining unchanged.
  • Tata Motors, HPCL, and Indiabulls HF were the top gainers, while Tech Mahindra, Wipro, and L&T are the top losers.

Nifty Auto index gains 1% led by Tata Motors

Published on: 10:54 am

  • The Nifty Auto index erased morning losses and is trading higher on Tuesday, hitting 8,516.60 points, a rise of 102.95 from the opening of 8,417.35 points.
  • The index rallied after a surge in Tata Motors, Ashok Leyland, and Hero MotoCorp. TVS Motor, Exide, MRF, Amara Raja, and Maruti were the other gainers, rising between 2-1% each. Read more

Nikkei India Services PMI at 52.5 in February

Published on: 10:42 am

  • The Nikkei India services Purchasing Managers' Index, or PMI, rose to 52.5 in February from 52.2 in January.
  • The seasonally adjusted Nikkei India Services Business Activity Index pointed to a moderate though quicker upturn in output.
  • Greater bookings, the securing of new clients and supportive public policies were often commented on by companies that reported higher output. Read more

Trump mulls to end India's preferential trade treatment: Media reports

Published on: 10:23 am

  • US President Donald Trump is mulling to close India’s preferential trade treatment that allows $5.6bn duty-free Indian exports to enter the US, media reports stated.
  • As per reports, Trump, who has vowed to reduce the US trade deficit, has repeatedly called out on India for its high tariffs. Read more

Glenmark gains on USFDA nod for Telmisartan and Hydrochlorothiazide tablets

Published on: 10:12 am

  • Shares of Glenmark Pharma rose 1.5% on the BSE in morning trade as the company received USFDA approval for Telmisartan and Hydrochlorothiazide tablets.
  • “Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the USFDA for Telmisartan and Hydrochlorothiazide Tablets USP, 40 mg/12.5 mg, 80 mg/12.5 mg, and 80 mg/25 mg, a generic version of Micardis HCT Tablets, of Boehringer Ingelheim Pharmaceuticals, Inc,” as per BSE filling. Read more

L&T wins contracts for water & effluent treatment business

Published on: 10:09 am

  • Larsen & Tourbo (L&T) on Tuesday said its construction arm has won a contract two orders from the Tamil Nadu Government’s Water Resources Department.
  • The business has secured two orders from the Water Resources Department, Govt. of Tamil Nadu; the first one is for the execution of the Athikadavu-Avinashi Scheme, and the second is for the construction of a new Regulator across the southern and northern arms of the Coleroon river on the downstream side of the existing regulator at Mukkombu (Upper Anaicut) near Tiruchirappalli, the company said in a BSE filing. Read more

Nifty hovers around 10,850 mark; Metal stocks gain

Published on: 9:51 am

  • Benchmark indices opened in the negative zone amid weak global cues. The markets were shut for a public holiday on Monday. On the sectoral front, metal and realty indices gained nearly 1%, followed by pharma, banking, and private bank, while auto, IT, and media were trading lower on the NSE.
  • The Sensex slipped 21 points to 36,043, while the Nifty was down 9 points to 10,854. The market breadth was positive with 1,215 shares advancing, 358 shares declining, and 496 remaining unchanged. Read more

Central Bank of India puts Bhushan Power, Essar Steel accounts up for sale: Media report

Published on: 9:25 am

  • Central Bank of India has put up four stressed accounts including those of Bhushan Power & Steel and Essar Steel India to recover dues of Rs3,321cr, a PTI report stated.
  • In terms of the bank's policy on the sale of financial assets in line with the regulatory guidelines, we place the following accounts for sale to banks/ARCs/NBFCs/FIs, Central Bank of India said in a bids invite document published on its website. Read more

Sensex, Nifty trade lower; Eicher, Bajaj Auto stocks slip

Published on: 9:15 am

  • Equity benchmark indices opened lower on Tuesday, while the broader markets outperformed with both midcap indexes up by nearly half a percent.
  • The Indian rupee opened marginally lower at 70.94 per dollar on Monday against Friday's close 70.91.
  • The Sensex slipped 20 points at 36,029 and the NSE Nifty 50 fell 0.12% to 10,850. 

Aurobindo Pharma acquires 7 oncology products from US-based firm

Published on: 9:07 am

  • Aurobindo Pharma in its filing to the exchanges informed that the company’s subsidiary Acrotech Biopharma LLC has completed the acquisition of the portfolio of 7 marketed oncology injectable products, intellectual property, and commercial infrastructure from Spectrum Pharmaceuticals Inc.
  • The acquisition was for an upfront purchase price of $160mn in cash plus up to $140mn (aggregating ~Rs2,125cr) on achieving regulatory and sales-based milestones, the company said in a press note to the exchanges on Saturday. Read more

Cochin Shipyard wins’ order from JSW Group unit

Published on: 9:00 am

  • Cochin Shipyard has signed contracts with Utkarsh Advisory Services Private Ltd, Mumbai, (part of JSW group) for construction and delivery of 4 Nos. 8000 T Mini Bulk Carriers, as per BSE filing.
  • The vessels will be built at the CSL yard at Kochi and are to be delivered within December 2020, the company said. Read more

Govt to offload all SUUTI stake in L&T to meet divestment target: Media report

Published on: 8:47 am

  • The government is all set to sell its entire stake it held in Larsen & Toubro (L&T) through Specified Undertaking of the Unit Trust of India (SUUTI) in near-term to meet ~Rs80,000cr disinvestment target for FY19, a Business Standard report stated.
  • The Centre holds a 1.8% stake L&T through SUUTI, valued at a little ~Rs3,300cr as of Friday’s closing price of L&T shares. The department of investment and public asset management (DIPAM) plans to sell shares worth ~Rs2,000cr before March 31. Read more

Asian stocks trade lower on Tuesday

Published on: 8:41 am

  • Asian stocks tracked US shares lower as investors looked for details of a possible trade deal between the US and China. The dollar edged higher and Treasury yields held declines.
  • Equities fell in Japan, Korea, Australia and Hong Kong after the S&P 500 Index declined the most in a month, though the benchmark did pare the worst of its losses late in the session. Read more

Broker Radar for March 05

Published on: 8:38 am

Credit Suisse downgraded to ‘Neutral’ from ‘Outperform’ on Bajaj Auto and cut TP to Rs2,700 from Rs2,950.
  • Believe domestic business will face headwinds going forward.
  • Bajaj is currently pushing inventory of Pulsar before ABS norms implementation. Domestic two wheeler volumes to be impacted by safety regulations. Trading at steep premium to peers despite upcoming risks.
HSBC maintained ‘Buy’ on SBI Life with a TP of Rs770. Stake sale by BNP Paribas Cardif lessens overhang on stock.
  • The lessening of this overhang is positive for the stock. Prefer SBI Life within the insurance space given its distribution advantage. Read more

Tata Motors denies on reports of JLR stake sale

Published on: 8:19 am

  • Tata Motors in its filing to the exchanges clarified on media reports that stated that the company is exploring options for Jaguar Land Rover Automotive Plc (JLR) including stake sale.
  • "There is no truth to the rumors that Tata Motors is looking to divest its stake in JLR and we would not like to comment further on any market speculation," the company said in a press note after market hours to the exchanges on Friday. Read more

Markets to open lower in line with Asian peers

Published on: 8:09 am

  • SGX Nifty is at 10831, down 17 points.  For today, we expect early morning profit booking as global cues dominate, however second half buying could see broader markets outperform.
  • On Monday financial markets in India were shut due to Mahashivratri holiday.
  • On Friday, Nifty saw a very strong session as the broader markets outperformed. The midcap index rose almost 2%, while the smallcap index rose 2.7%, which showed the fresh built up of speculative and value buying in the new series of March. Read more.

Bulk Deals

Published on: 8:09 am

  • SBI Life Insurance: Ca Emerald Investments acquired 9cr shares or 9% equity at Rs515 each. BNP Paribas Cardif sold 9.23cr shares at 9.23% at Rs515.01 each.
  • Anup Engineering (No Shareholding Pattern Given): Enam AMC sold 54,800 shares at Rs472.5 each.
  • Aavas Financiers: Matthews International Funds acquired 4.05 lakh shares or 0.52% equity at Rs1,070.1 each. Amundi Funds sold 4.47 lakh shares or 0.57% equity at Rs1,070.1 each.
  • Spencer’s Retail (No Shareholding Pattern Given): Promoter Rainbow Investments acquired 10 lakh shares at Rs143 each. HDFC Mutual Fund sold 14.51 lakh shares at Rs144.32 each.
  • Hindustan Foods Westbridge AIF acquired 2.17 lakh shares or 1.61% equity at Rs360 each. Jwalamukhi Investment Holdings acquired 13.4 lakh shares or 9.93% equity at Rs360 each. Sixth Sense India Opportunities sold 15 lakh shares or 12.12% equity at Rs360 each.

Top stocks in focus: Tata Motors, Reliance Industries, SBI, Coal India

Published on: 8:03 am

  • Tata Motors clarified that there is no truth on the news of the company looking to divest its stake in JLR and the company will not comment further on any market speculation.
  • Reliance Industries to invest Rs22cr in C-Square Info Solutions. It will further invest Rs60cr by March 2021. Post these investments, it will hold 82% stake.
  • SBI said that the frauds have amounted to Rs7,951.3cr during the first nine months of the financial year 2019, due to the declaration of frauds in a few large value advances. Read more

FII and DII Data

Published on: 8:00 am

FII/DII Data: In the last trading session, FIIs bought 198cr worth of stock in the cash market, whereas DIIs bought 117cr worth of stock. In the derivative market, FIIs bought 170cr of Index futures and bought 1832cr worth of Index options. In the Stock futures segment, FIIs sold 140cr worth of stock futures and bought 501cr stock options.

FII View: FIIs created a huge long option position in the index option segment expecting a volatile scenario for the indices. They also simultaneously created 14075 short contracts in the Index Futures segment. The long-short ratio in Index Futures currently stands at 1.1x.
 
FII OI(000's) % Chg % Chg Since Expiry Long/Short Ratio Long/Short Since Expiry
Future Index Long 101 7 7 1.1 0.9
Future Index Short 96 17 17
Option Index Call Long 152 (89) (89) 3.0 3.1
Option Index Call Short 50 (96) (96)
Option Index Put Long 290 (84) (84) 2.0 2.0
Option Index Put Short 142 (92) (92)
 

What not to miss today

Published on: 7:57 am

  • Markets to open lower; Nifty support @10780, resistance 10930.
  • FIIs bought 198cr (cash), 169cr in the Index Futures.
  • US, Asian markets slip as investors sought more details on US-China trade talks.
  • Donald Trump mulls to end India's Preferential Trade Treatment that allows $5.6bn dutyfree Indian exports to enter the US. Read more.

Derivative Watch

Published on: 7:45 am

  • Bank Nifty futures added massive open positions to the tune of ~23%, indicating a buildup of long positions.
  • On the options front, heavy short positions were built in ATM & OTM put option strikes with 10800PE witnessing an addition of ~6.52 lakh shares in open interest, hinting a formation of floor level for the index around 10800 level for March 07, 2019.
  • Tracking the Bank Nifty weekly options, PCR of ITM & ATM strikes trended higher on account of an unwinding of call writing positions.
  • PSU Banks were among the top outperformers with OBC & BOB gaining ~12% & ~7% along with an addition of fresh open interest, hinting a formation of long positions.
  • Open positions in Reliance Power & Arvind Ltd surged by ~53%/~43% along with a sharp surge in the underlying price, indicating a continued upward momentum going into the next week.

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