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11th Mar, 2019

Mind-blowing Monday for markets; Nifty settles above 11,150-mark

Published on: 3:47 pm

  • Equity benchmark indices ended Monday on a positive note with the Sensex closing 382 points higher at 37,054 levels. The Nifty also settled 136 points higher at 11,171 levels, well above key level of 11,150.
  • Among stocks, Bharti Airtel, HPCL, BPCL, Eicher Motors, and Infratel were the biggest gainer on the NSE. On the flip side, NTPC, TCS, Zee, HCL Tech, and Tech Mahindra lost the most.
  • Further, all sectoral indices ended on a green node on the NSE except the Nifty IT index. The Nifty Metal index gained 3% followed by Nifty PSU Bank and Auto indices which gained 2% each.
  • Incidentally, market breadth on the NSE was positive with 1,257 stocks advancing, 485 shares declining, and 350 remaining unchanged.

Laurus Labs receives 2 USFDA approvals; stock gains 4%

Published on: 3:27 pm

  • Shares of Laurus Labs gained 4% on Monday after the company received approval for Hydroxychloroquine Tablets 200 mg and ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets.
  • Accordingly, the company received final approval from United States Food and Drug Administration (USFDA) for Hydroxychloroquine Tablets 200 mg. Read more.

Power Mech climbs 4% on order wins worth Rs1,238.75cr

Published on: 2:44 pm

  • Shares of Power Mech climbed 4% on Monday after the company received an order worth Rs1,238.75cr from Water Resources Department, Government of Andhra Pradesh.
  • "An order has been received for HNSS Project - Supply of water from Chitravathi Balancing Reservoir to HNSS Main Canal, Punganur Branch Canal and Kuppam Branch Canal in Chittoor district through Yogivemana Resevoir Project in Ananthapuram district, Andhra Pradesh (Hydro, Electro - Mechanical works etc.)," the company said in a press note to the exchanges on Monday. Read more.

Kalpataru Power gains 2% on order wins worth Rs1,288cr

Published on: 2:17 pm

  • Shares of Kalpataru Power Transmission (KPTL) gained 2% on Monday after the company in its press note to the exchanges informed that it has won orders worth Rs1,288cr.
  • Of the total, the Transmission & Distribution business has received an order worth Rs771cr, primarily in international markets. Another two projects worth Rs517cr have been received under Oil and Gas segment, the company said in a press note. Read more.

BSE Power index soars 3%; Power Grid, BHEL stocks gain

Published on: 2:09 pm

  • The BSE Power index is currently trading higher at 1,977.20, up by 3%. The index opened higher at 1,922.37 points as against its previous close of 1,927.01 points and hit a high and low of 1,983.54 and 1,920.50 points respectively.
  • The sectoral breadth is currently positive with 17 stocks advancing in the afternoon trade.
  • Power Grid is the top gainer in the index, trading at Rs195.10 per share, up by 4.3% on Monday. BHEL is up more than 4% and is the second-best gainer in the BSE Power Index followed by NTPC, which is up by more than 3.5%. Read more.

Nifty above 11,150 mark; Metal, Banking stocks surge

Published on: 1:59 pm

  • Equity benchmark indices gain and hit fresh intraday high in the afternoon session on Monday’s trade.
  • The Sensex rallied 343 points to 37,015, while the Nifty was up 119 points to 11,154. The market breadth was positive with 1,278 shares advancing, 442 shares declining, and 371 remaining unchanged on the NSE.
  • HPCL, Airtel, BPCL, and Power Grid were among top gainers on the Nifty, while IndusInd Bank, TCS, HCL Tech, and Zee are the top losers. 

Aarti Drugs stock hits 52-week high

Published on: 1:48 pm

  • Shares of Aarti Drugs hit 52-week high at Rs705 on the BSE on Monday’s trade. The Board of Aarti Drugs is scheduled to meet on March 15, 2019, to consider inter alia, proposal of buyback of the fully paid-up equity shares of the Company including matters related/incidental thereto.
  • The stock has rallied 20% in the past four trading days.
  • Aarti Drugs Ltd is currently trading at Rs691.85 up by Rs21.5 or 3.21% from its previous closing of Rs670.35 on the BSE. The scrip opened at Rs690 and has touched a high and low of Rs705 and Rs673.30 respectively. Read more.

Nifty Metal gains 2% on positive global cues

Published on: 12:54 pm

  • The Nifty Metal index gained 2% on Monday after China’s central bank pledged to increase loans and lower borrowing costs amid sharp drop in bank lending in February.
  • Shares of Jindal Stainless (Hisar), Coal India, Jindal Steel, NALCO, and Vedanta were leading the index’s gain.
  • As per media reports, the investor optimism regarding Peoples Bank of China (PBOC) to support the slowing economy arose after PBOC’s Governor Yi Gang said that there is still some room for the central bank to cut reserve requirement ratios (RRRs), although the amount of room is less compared with a few years ago. Read more.

Jet Airways gains 3% on report of securing fresh credit from PNB

Published on: 12:39 pm

  • Shares of Jet Airways were trading up 3% on Monday after a Mint report stated that the debt ridden airline company is all set to receive loan of Rs2,050cr from Punjab National Bank (PNB).
  • As per the report, the loan has been raised in two lots through separate agreements with the bank. Under one agreement, Jet Airways received a credit facility of Rs1,050cr, including a term loan in dollar worth Rs350cr (at a notional rate of Rs67/$) and a non-fund based facility of Rs700cr. Read more.

SBI gains 2% on reports of liking deposit, loan interest to repo rates

Published on: 12:03 pm

  • Shares of State Bank of India (SBI) gained 2% on Monday after media reports showed that the bank has announced liking of deposit and loan interest rates to external benchmark from May 01, 2019.
  • The development implies that whenever the Reserve Bank of India (RBI) announces a change in the repo rate, it will automatically reset SBI's interest rates, media reports stated. Read more.

Nifty Auto, Metal stocks gain in today’s session

Published on: 11:38 am

  • Benchmark indices zoomed in the morning trade following the announcement of 2019 general election dates. The BSE Midcap index was up 1.21% and BSE Smallcap index was up 0.99%. The market breadth, indicating the overall health of the market, was strong.
  • The BSE Sensex was trading at 36,991, up 320 points, while the Nifty50 gained 110 points to trade at 11,145. Read more.

Live share market update: Markets soar higher; Nifty Bank just ~1% away from its lifetime high

Published on: 11:25 am

  • Indian equity markets are trading with a positive bias as across the board buying in major heavyweights take Nifty & Bank Nifty index ~1% higher.
  • Nifty Midcap50 index outperformed the benchmark index by ~0.6% as the broader markets continue their merry-way. OMC stocks gain upward momentum with HPCL & BPCL adding fresh open interest with a price rise of ~5% & 3% respectively, indicating a continued build-up of long positions. Read more.

Birla Corporation falls 6% on an order to stop mining in Rajasthan City

Published on: 11:20 am

  • Shares of Birla Corporation fell 6% on the BSE after the company said National Green Tribunal (NGT) has ordered to stop all mining activities which are being carried on within the municipal limits of Chittorgarh City in Rajasthan.
  • “The Principal Bench of National Green Tribunal on March 08, 2019 has ordered to stop all mining activities which are being carried on within the municipal limits of Chittorgarh City and within 10 km of Bassi Wildlife Sanctuary or within Eco-Sensitive Zone of Bassi Wildlife Sanctuary, if finally notified,” the company said in a regulatory filing. Read more.

Unichem Lab’s Ghaziabad facility inspected by USFDA; stock gains 3%

Published on: 11:17 am

  • Shares of Unichem Lab were trading 3% higher on Monday as United States Food and Drug Administration (USFDA) concluded inspection of the company’s Ghaziabad facility without any FDA form 483 issued.
  • The inspection was conducted by USFDA from March 5 to 8, the company said in a press note to the exchanges on Monday. Read more.

DHFL stock slips after Brickwork Ratings cuts credit rating

Published on: 11:10 am

  • Shares of DHFL slipped 4% after Brickwork Ratings downgraded various debt instruments by one notch citing de-growth in business on account of inability to raise funds.
  • “NCDs worth Rs41,000cr downgraded to BWR AA from BWR AA+. Subordinated debt worth Rs2,250cr downgraded to BWR AA from BWR AA+,” as per filing.
  • Meanwhile, Care Ratings has also revised DHFL's long-term ratings, placing most of them on ‘credit watch’ with developing implications. Read more.

PSU Banking stocks gain over 2% led by SBI, IDBI Bank

Published on: 11:06 am

  • The Nifty PSU Bank gained over 2% on Monday amid heavy buying in stocks of IDBI Bank, Union Bank, PNB, and SBI.The index was trading at 3,009 with most of its components trading in the positive zone.
  • SBI stock gained 1% on the NSE after the bank has announced linking of its interest rates on deposits and loans to an external benchmark from May 1, 2019. Read more.

Dilip Buildcon surges 7% after emerging as L-1 bidder for road project

Published on: 10:15 am

  • Shares of Dilip Buildcon spurted 7% on Monday after the company emerged as the lowest bidder for road project of National Highway Authority of India.
  • The work includes 4 Laning of Saoner-Dhapewada-Kameshwar-Gondkhairi, NH-54 E, from 4.70km to 33.575km in Maharashtra on EPC mode, the company said in a press note after markets hours  to the exchanges on Friday.
  • The company’s bid price for the project was Rs480.06cr. The completion period for the project is 24 months. Read more.

Rupee gains 15 paise at 69.99/$

Published on: 9:53 am

  • The Indian rupee appreciated 15 paise to open at 69.99 against the dollar on Monday compared to previous close of 70.14/$.
  • At 9:40AM, IST, the domestic unit was trading at 69.97 against the dollar. On Friday, the currency depreciated by 14 paise to close at 70.14/$.
  • The appreciation could be attributed to increasing foreign fund inflows in the domestic equity market. FIIs in this year until now have poured in funds worth $1.2bn in equity and debt segment. Read more.

Asian markets trade mixed; Hang Seng index up ~1%

Published on: 9:33 am

  • Asian markets opened mixed with a most trading flat after Friday's extreme sell-off caught everyone off guard. The Chinese index was down over 5% as other markets followed owing to huge profit booking that took place after a stupendous run in 2019.
  • Meanwhile, all eyes on progress & implementation of positive trade talks between US & China. Read more.

Nifty above 11,100 mark; BPCL, Eicher stocks gain 3%

Published on: 9:18 am

  • The Sensex rallied 287 points to 36,985, while the Nifty was up 91 points to 11,126. The Indian rupee strengthened by 0.23% to 69.98 against the greenback.
  • SBI, ONGC, Coal India, and Hero MotoCorp were trading higher, while IndusInd Bank, Kotak Mahindra, and NTPC were trading lower on the BSE.

NCLT approved RIL-JM Financial resolution plan for Alok Industries insolvency process

Published on: 9:06 am

  • Alok Industries in its filing to the exchange informed that National Company Law Tribunal (Ahmedabad) approved resolution plan submitted by Reliance Industries and JM Financial.
  • "This disclosure is being made pursuant to the oral pronouncement of order by the NCLT. Upon the written order being made available, an updated disclosure shall be made," the company said in a press note to the exchanges on Saturday. Read more.

NCLT admits ICICI Bank’s insolvency plea against Punj Loyd over Rs854cr default

Published on: 9:03 am

  • Punj Loyd in its filing to the exchanges informed that the National Company’s Law Tribunal (NCLT) has admitted an insolvency plea against the company filed by ICICI Bank.
  • ICICI Bank had filed a petition against the company in respect of an alleged default amount of Rs854cr, the company said in a press note after markets hours to the exchanges on Friday. Read more

Broker Radar for March 11

Published on: 8:30 am

HSBC upgraded to ‘Buy’ from ‘Reduce’ on on Info Edge, hiked a TP to Rs1,978 from Rs923.
  • Recruitment is driving growth after a temporary slowdown.
  • Value of property and food business continues to increase.
  • Hike estimates given that all major segments have seen marked improvements
CLSA maintained ‘Buy’ on ITC with a TP of Rs400.
  • Weak earnings growth and concerns on capital allocations ailing stock.
  • Rising ESG focus and lower global valuations ailing ITC share price. Read more

Sun TV approves dividend of Rs2.5/share

Published on: 8:16 am

  • Sun TV, in its press note to the exchanges, informed that its board has granted approval for interim dividend of Rs2.50/per equity share for FY19.
  • This is the fourth interim dividend disbursed by the company in the current fiscal year, the company said in a press note after markets hours to the exchanges on Friday. Read more

Bulk Deals

Published on: 8:15 am

  • Laurus Labs: Amansa Holdings bought 22.3 lakh shares or 2.1% equity at Rs 350 apiece.
  • Thermax: Reliance MF bought 10 lakh shares or 0.84% equity at Rs940 apiece. 
  • Advanced Enzymes: Promoter group sold 81.3 lakh shares or 7.3% equity at Rs177 apiece.
  • Advanced Enzymes: Orbimed Asia III Mauritius bought 1.1cr shares or 10% equity at Rs 176 apiece.
  • Supreme Infrastructure: Claricent Advisory Services LLP bought 6.8 lakh shares or 2.65% equity at Rs24.8 apiece from Gagandeep Credit Capital.

Top stocks in focus: Tata Motors, DHFL, Sun TV, Delta Corp

Published on: 8:08 am

  • Tata Motors Group global wholesales, including JLR, was at 1,10,262 units in February 2019. The group global was lower by 9% compared to the year-ago period.
  • DHFL stock in focus as Brickwork Ratings downgraded various debt instruments by one notch citing de-growth in business on account of inability to raise funds.
  • Syndicate Bank reduced its MCLR by 10 bps across all the tenors. Read more

What not to miss today

Published on: 7:59 am

  • Markets to open flat; Nifty support @10970, resistance 11089.
  • FIIs bought 1,095cr (cash), sold 251cr in Index futures.
  • US markets down on mixed jobs data; Asian mixed.
  • Rupee down 15 paise at 70.15/$. Read more.

SGX Nifty indicates flat opening for Indian markets

Published on: 7:56 am

  • SGX Nifty is at 11,043, down 15 points. Asian markets opened mixed with most trading flat after Friday's extreme sell-off caught everyone off guard.
  • The Chinese index was down over 5% as other markets followed owing to huge profit booking that took place after a stupendous run in 2019. Read more

FII and DII Data

Published on: 7:55 am

FII/DII Data: On Friday’s, trading session FIIs bought 1095cr worth of stock in cash whereas DIIs sold 471cr worth of stock. In the derivative market, FIIs sold 251cr of Index futures and bought 1009cr worth of Index options. In the Stock futures segment, FIIs sold 1088cr worth of stock futures and bought 139cr stock options.

FII View: In Index future segment, FIIs are currently holding 1.13 lakh contracts of long positions while 1.03 lakh contract of short positions, keeping their long/short ratio at 1.1x level. However, they created 22629 contracts of speculative long positions in index call options & they wrote off 10970 contracts of index puts, clearly indicating an expectation of positive momentum for the indices.
FII OI(000's) % Chg % Chg Since Expiry Long/Short Ratio Long/Short Since Expiry
Future Index Long 113 3 20 1.1 0.9
Future Index Short 103 8 27
Option Index Call Long 230 11 (83) 3.5 3.6
Option Index Call Short 65 13 (95)
Option Index Put Long 287 4 (84) 1.6 1.6
Option Index Put Short 175 7 (90)

Derivative watch

Published on: 7:43 am

  • Nifty IT index continued its downward momentum, closing ~1% lower with an addition of fresh short positions.
  • Nifty PSU index closed 0.5% lower on account of long unwinding seen major heavyweights like SBI & BOB.
  • NTPC & Just Dial resumed its upward momentum with an addition of fresh open interest to the tune of ~45%/12%, indicating a buildup of long positions.

Tata Motors Group global wholesale volume down 9% in Feb

Published on: 7:11 am

  • Tata Motors Group global wholesales in February 2019, including Jaguar Land Rover (JLR), were at 110,262 units, lower by 9%, as compared to February 2018.
  • Global wholesales of all Tata Motors’ Commercial Vehicles and Tata Daewoo range in February 2019 were at 84,512 units, down by 9% over February 2018, the company said in the BSE filing on Saturday. Read more

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