Latest update and news

14th Mar, 2019

Sensex, Nifty end flat after a volatile session

Published on: 3:31 pm

  • Equity benchmark indices ended on a flat note after a volatile session. The BSE Sensex ended at 37,755 and the Nifty50 ended at 11,343.
  • The Nifty Realty index was among the top outperformer, closing ~2% higher lead by a strong rally in DLF which gained 5% at close and managed to add fresh long positions.
  • Bank Nifty futures continued its upward momentum by adding fresh long positions.

Eclerx stock soars after approving up to Rs262cr buyback

Published on: 3:29 pm

  • Shares of eClerx Services soared 4% in the last hour of the trading session on the BSE after the company approved buyback of equity shares.
  • The board of directors of the company has approved the proposal for buyback of fully paid-up equity shares of the company of face value of Rs10 each for an aggregate amount not exceeding Rs262cr, the company said in BSE filing. Read more

ADAG stocks trade lower; Reliance Capital tanks 8%

Published on: 3:15 pm

Reliance Infra to sell toll road stake to Cube Highways

Published on: 2:39 pm

  • Reliance Infrastructure has signed of Definitive Binding Agreement with Cube Highways and Infrastructure III Pte Ltd for the sale of its 100% stake in Delhi-Agra (DA) Toll Road Private Limited. The total deal enterprise value is over Rs3,600cr.
  • In addition, NHAI claims of Rs1,200cr to be filed by DA Toll Road Pvt. Ltd. will flow directly to Reliance Infrastructure. Reliance Infrastructure will utilize the proceeds of this transaction entirely to reduce its debt. After the completion of the transaction for Delhi-Agra Toll Road, the debt of Reliance Infrastructure will reduce by 25% to only less than Rs5,000cr, as per BSE filing. Read more

Sensex, Nifty trade volatile; Indiabulls Real Estate, Sun Pharma stocks shine

Published on: 2:28 pm

  • Equity benchmark indices were trading in a narrow range in the noon trade on Thursday. The Sensex is down 37 points at 37,714, while the Nifty is down 20 points at 11,322. The market breadth was negative with 715 shares advancing, 1,005 shares declining, and 358 remaining unchanged.
  • The Nifty Realty index gained 2% led by gains in Indiabulls Real EstateDLF, and Prestige. On the flip side, Mahindra Lifespace, Sobha, and Brigade were trading in the negative zone. Read more

Rajesh Exports bags order worth Rs1,079cr; stock rises 2%

Published on: 12:44 pm

  • Shares of Rajesh Exports rose 2% in the noon trade after the company has received orders for its products for a value of Rs1,079cr. The order has been procured beating global competition from a leading wholesaler and stockiest of Middle East for further distribution to the global markets. The order is to be completed by June 2019, the company said in the regulatory filing.
  • The company will be executing the order from its manufacturing facility, which is the world's largest gold manufacturing facility. This facility has a processing capacity of 250 tons of jewellery and gold products per annum. Read more

WPI Inflation rises to 2.93% in February

Published on: 12:18 pm

  • India’s wholesale price inflation (WPI) surged to 2.93% in February from 2.76% in January, data released by the commerce and industry ministry on Thursday showed.
  • The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 0.07% in December 2018 to 1.84% in January 2019. Read more

Blue Star launches 75 new air conditioner models; stock up 2%

Published on: 11:53 am

  • Blue Star Limited, has launched 75 new models of room air conditioners in its Platinum Jubilee year. These superior and stylish models also include energy-efficient inverter ACs capable of delivering 30% extra cooling over and above its rated capacity.
  • Blue Star Ltd stocks are currently trading at Rs680.40 up by Rs13.3 or 1.99% from its previous closing of Rs667.10 on the BSE. Read more

Live Market Update: Markets trade on a flat note; Just Dial surges 3%

Published on: 11:40 am

  • Indian equity markets are trading on a flat note as a marginal hint of profit booking in seen across the major counters. Nifty Bank marginally outperformed the benchmark index led by strong gains in Yes Bank and Axis Bank.  
  • Nifty IT index continues to trade in red for the seventh day in a row with HCL Tech leading the underperformers. Read more

Reliance Industries halts exports to Venezuela on US norms: Media report

Published on: 11:13 am

  • Shares of Reliance Industries gained in today's morning trade on the BSE. The company said on Wednesday, that it has stopped all oil exports to US sanction-hit Venezuela and will not resume sales until sanctions are lifted, according to the media reports.
  • The company’s twin refineries at Jamnagar in Gujarat were a major importer of Venezuelan crude oil, which has reduced purchases by about a third. Read more

Rupee opens weaker by 24 paise against US Dollar

Published on: 10:43 am

  • The Indian rupee slipped by 24 paise at 69.75 against US Dollar on increased demand for the greenback from importers and banks and rising crude oil prices. Besides, strengthening of the American currency in the overseas market weighed on the domestic currency.
  • The yields on the 10-year government bonds were up 0.15% to 7.39% from its previous close of 7.38%. Read more

Deep Industries stock climbs 11% after winning order

Published on: 10:11 am

  • Shares of Deep Industries climbed 11% in the morning trade on the BSE after the company has received two orders worth Rs184cr from ONGC Ltd
  • The two orders were for deployment of 2 number of 1,000 HP drilling rig for ONGC Ahmedabad Asset for a period of three years. Read more

Nifty above 11,350 mark; Metal, media stocks surge

Published on: 9:55 am

  • Equity benchmark indices opened higher for the fourth consecutive session, with the Bank Nifty hitting record high of 29,000-mark. In the broader market, the BSE MidCap index was trading 39 points higher at 15,166, while the BSE SmallCap index was ruling at 14,914, up 40 points.
  • On the sectoral front, media, metal, banking, and realty were trading in the positive territory, while IT, FMCG, and auto indices were in the negative territory. Read more

Sony Corp in advanced talks to buy stake in Zee Ent: Media report

Published on: 9:22 am

  • Shares of Zee Entertainment gained 1% on the NSE in the early morning trade on Thursday’s session. The stock was among top gainers on the Nifty50 today.
  • According to the Mint report, Sony Corp. is in advanced talks to buy a stake in Zee Entertainment and form a strategic partnership. Read more

Bank Nifty hits record high; crosses 29K; Yes Bank, Zee stocks gain

Published on: 9:18 am

  • Equity benchmark indices opened higher for the fourth consecutive session, with the Bank Nifty hit record high of 29,000-mark.
  • The Indian rupee opened lower by 14 paise at 69.67 per dollar on Thursday versus previous close 69.53/$.
  • The BSE Sensex rose 0.4% to 37,904 and the NSE Nifty rose as much as 0.36% to 11,382. 

Wipro's Azim Premji commits Rs1.45 lakh cr to philanthropy

Published on: 9:07 am

  • Azim Premji, Chairman of Azim Premji Foundation (the Foundation), has increased his commitment to philanthropy, by irrevocably renouncing more of his personal assets and earmarking them to the Endowment, which supports the Foundation's philanthropic activities.
  • Azim Premji has done this by additionally earmarking all economic benefits for philanthropic purposes, in approximately 34% of the shares in Wipro (current market value ~Rs52,750cr/ USD 7.5bn), held by certain entities controlled by him. Read more

Sun Pharma unit raises stake in PJSC Biosittez, Russia to 96.96%

Published on: 9:00 am

  • Sun Pharmaceutical Industries has increased its stake in Russia's PJSC Biosintez to 96.96% with the purchase of additional shares worth over Rs22cr.
  • The company's wholly-owned subsidiary, Sun Pharma (Netherlands) BV, has increased its shareholding in PJSC Biosintez by way of purchase of 33,958 shares, equivalent to 11.86% stake under mandatory tender offer, the company said in a regulatory filing. Read more.

Lupin’s Mandideep facility classified as OAI by USFDA

Published on: 8:55 am

  • Lupin in its filing to the exchanges informed that the company has received a letter from the USFDA classifying the inspection conducted at the company's Mandideep (Unit 1) facility in December 2018 as 'Official Action Indicated' (OAI). 
  • "The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed,” the company said in a press note after markets hours to the exchanges on Wednesday. Read more.

Asian stocks trade mixed; Nikkei 225 up ~1%

Published on: 8:50 am

  • Asian stock markets were trading mixed on Thursday as investors awaited a slew of economic data from China. The pound gave back some of Wednesday’s surge as traders positioned for the next steps in the Brexit saga.
  • Shares edged higher in Hong Kong and Japan, were little changed in South Korea and fluctuated in China ahead of data including industrial production and retail sales. Read more.

RBI to inject Rupee liquidity through long term USD/INR Buy/Sell Swap auction

Published on: 8:41 am

  • In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to augment its liquidity management toolkit and inject Rupee liquidity for longer duration through long-term foreign exchange Buy/Sell swap in terms of its extant Liquidity Management Framework.
  • The US Dollar amount mobilized through this auction would also reflect in RBI’s foreign exchange reserves for the tenor of the swap, while also reflecting in RBI’s forward liabilities. Read more.

Current FII data

Published on: 8:38 am

FII/DII Data: In yesterday’s trading session, FIIs bought 2722cr worth of stock in cash, whereas DIIs sold 1508cr worth of stock. In the derivative market, FIIs bought 1822cr of Index futures and sold 492cr worth of Index options. In the Stock futures segment, FIIs sold 908cr worth of stock futures and bought 99cr stock options.

FII View: In Index future segment, FIIs index future long/short ratio shifted from 1.4x to 1.1x on account of heavy buying to the tune 18981 contracts of index futures. The trend of doing a collar spread continues as, they created 20261 contracts of speculative long positions in index call options and they wrote off 43527 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 169 13 79 1.4 1.2
Future Index Short 119 (4) 45
Option Index Call Long 295 7 (79) 3.3 3.3
Option Index Call Short 89 24 (94)
Option Index Put Long 321 9 (82) 1.2 1.2
Option Index Put Short 269 19 (85)

SGX Nifty indicates flat opening for Indian markets

Published on: 8:33 am

  • SGX Nifty is at 11390, up 7 points. For today, we expect some more consolidation on the broader market, while huge foreign buying continues to chase large-cap stocks.
  • On Wednesday, Nifty saw another large-cap day with bank Nifty hitting fresh all-time highs as large Corporate banks lead the index higher.Mid caps & the broader market succumbed to profit booking even as the Nifty closed higher by 40 points. Read more.

Broker Radar for March 14

Published on: 8:15 am

Macquarie maintained ‘Underperform’ on Lupin with a TP of Rs716.
  • Expect warning letter for Mandideep Unit 1 within the next two months.
  • Believe existing US sales from this facility are 5–6% of Lupin’s total US sales.
  • The only solace is there are no pending DMF or ANDA filings.
CLSA on Telecom Sector consolidation will compel lower spectrum prices.
  • Lower spectrum prices will boost sector returns. Industry divided on the spectrum; Airtel remains sector pick. Read more.

What not to miss today

Published on: 8:02 am

  • Markets to open flat; Nifty support @11227, resistance 11400.
  • Asian stocks up; US gain amid strong economic data.
  • FIIs bought 2,722cr (cash), 1,822 in Index futures. Read more.

Bulk Deals

Published on: 7:20 am

  • Arvind Fashions: Vanguard Funds sell 7.01 lakh shares or 1.32% equity at Rs718.2 each.
  • Reliance Communications: IndusInd Bank sold 1.4cr shares or 0.51% equity at Rs4.97 each.

Derivative watch

Published on: 7:13 am

  • The Bank Nifty index continued its merry way, posting a biggest 3-day gains, since October 2017.
  • Tracking the derivative data points, since the start of the March series, its futures contract has added open interest to the tune of ~140% consisting mainly of long positions.
  • On the options front (March 28, 2018 expiry), a big delta move in the index during the last seven trading days in the combination of rising Put/Call ratio is indicating a continued upward momentum for the index.
  • IndusInd Bank & Just Dial added long positions with a fresh spike in open interest, while Apollo Hospital continued to add fresh short positions for the second day in a row.

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