Friday, 24 May 2019

Sensex up over 150 points; HDFC Bank, L&T stocks gain

Equity benchmark indices opened on a strong note on Friday, a day after a decisive win by the ruling NDA in the Lok Sabha elections. HDFC twins, L&T, ICICI Bank and Infosys among top gainers on the Sensex, while losers include ONGC, Bajaj Auto, HUL, and Maruti.

The Sensex was quoting at 38,989, up 177 points, while the Nifty was at 11,711, up 54 points. The market breadth was positive on the NSE with 1,020 shares advancing, 485 shares declining, and 557 remaining unchanged.


The domestic currency opened higher at 69.75/$ on Friday vs. Thursday's close of 70.01 against the US dollar.


Shares of General Insurance Corporation of India rose 1% on the NSE. The company posted a 20% decline in its net profit at Rs603.37cr for the March quarter due to higher provisioning related to tax and exposure towards IL&FS.


Gruh Finance fell 5% in the early morning trade after 2% equity changed hands in a block deal.


Meanwhile, oil price stabilized amid OPEC supply cuts and tensions in the Middle East. Brent crude futures were at $68.05 per barrel up 0.4% from their last close.


The Volatility gauge, India VIX is down 8.97% at 17.66.


The most active stocks on the NSE are SBI, Reliance Industries, and IndusInd Bank. 




Thursday, 23 May 2019

Sun TV gains 4% as early trends shows DMK leading in Tamil Nadu

Shares of Sun TV Network were trading 4% higher on Thursday after counting of votes in early trend shown that Dravida Munnetra Kazhagam (DMK) is leading in Tamil Nadu.

As per media reports, the Congress-DMK alliance are likely to win 34-38 seats out of the total 39 seats in the Lok Sabha Election 2019.


As per India Today-Axis My India exit poll, the AIADMK and BJP alliance may win at most 4 seats. DMK is also expected to come back to the power in the state as the result of the bypolls in the 22 Assembly seats will also be announced on Thursday along with the Lok Sabha results.


Sun TV Network Ltd's share price is currently at Rs574.55, up by Rs21.2 or 3.83%, from its previous close of Rs553.35 on the BSE. 


The scrip opened at Rs577.30 and has touched a high and low of Rs597 and Rs567.75, respectively. So far, 20,32,558 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs21,806.67cr.




Wednesday, 22 May 2019

Bharti and Vodafone Group announces proposed CEO, CFO for merged entity

Bharti Infratel in its filing to the exchanges informed that Shareholder Groups (Bharti and Vodafone Group Plc.) of the combined entity resulting from the merger of Indus Towers Limited with Bharti Infratel Limited appointment of CEO and CFO.


Accordingly, the group appointed Bimal Dayal (currently CEO, Indus Towers) is proposed to be appointed as the Chief Executive Officer of the merged entity. He will be responsible for the combined business and will take forward integration of the two companies in the preparation of the merger. Further, Hemant Ruia (currently CFO, Indus Towers) is proposed to be appointed as the Chief Financial Officer of the merged entity.


"The group also announced that the merger process is at an advanced stage of completion," the company said in a press note released after market hours to the exchanges on Tuesday.


The merger of Bharti Infratel and Indus Towers will create a pan-India tower company, with over 163,000 towers, operating across all 22 telecom service areas in India, the company added.


Bharti Infratel Ltd's share price is currently at Rs276, down by Rs0 or 0%, from its previous close of Rs276 on the BSE. 


The scrip opened at Rs275 and has touched a high and low of Rs280.80 and Rs275, respectively. So far, 13,53,537 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs51,049.19cr.




Tuesday, 21 May 2019

BHEL commissions two more units of Kaleshwaram project; stock down 1%

Bharat Heavy Electricals Limited (BHEL) has successfully commissioned two more pumping units (Units 3&4) of 116 MW each, of the 7x116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana.

BHEL had earlier commissioned units 1&2 of the same project in April 2019. Significantly, the pump for each unit is designed to lift 89.16 cumecs (cubic metres per second) of water by 105.5 metres, the company said in the filing.


In Telangana, BHEL has so far commissioned 29 Pump-Motor sets of various ratings cumulatively aggregating to 985 MW. In addition, BHEL is presently executing another 36 Pump-Motor sets totalling to 4,893 MW for various Lift Irrigation Schemes in Telangana, viz. Kaleshwaram (Pranhita Chevella) LIS Packages and Palamuru Rangareddy LIS Packages.


In addition to Lift Irrigation projects, BHEL has made significant contribution to the hydro sector of Telangana and has commissioned 1,073 MW of hydro power projects in the state so far.


Bharat Heavy Electricals Ltd is currently trading at Rs65.40, down by Rs0.7 or 1.06% from its previous closing of Rs66.10 on the BSE.


The scrip opened at Rs66.40 and has touched a high and low of Rs66.40 and Rs64.55 respectively.




Monday, 20 May 2019

Sensex rallies over 650 points; Reliance, ICICI Bank among top gainers

Equity benchmark indices surged 2% in the early morning trade after exit polls of the 2019 Lok Sabha elections projected BJP-led National Democratic Alliance (NDA) to win a comfortable majority.

Reliance Industries, ICICI Bank, HDFC, and L&T contributed the most to the advances on Sensex.


The rupee rose to a two-week high of 69.36 against the US dollar, as compared to its Friday’s close of 70.23.


The Sensex was quoting at 38,579, up 647 points, while the Nifty was at 11,610, up 203 points. The market breadth was positive on the NSE with 1,342 shares advancing, 230 shares declining, and 504 remaining unchanged.


Indiabulls Housing, SBI, L&T, and ICICI Bank were among the major gainers on the Nifty50, whereas Dr Reddy’s, Zee, and Tech Mahindra led losses.


Shares of Cipla rose 1.5% after the company informed that inspection conducted by the United States Food and Drug Administration (USFDA) at the company’s Indore facility ended with zero observation.


Shares of Bharti Airtel rose 1.5% after the company said that based on preliminary information, the rights issue has been over-subscribed. The company’s Rights Issue closed for subscription on May 17.


The Volatility gauge, India VIX is down 12.99% at 24.42.


The most active stocks on the NSE are Oberoi Realty, Reliance Industries, Axis Bank and SBI.




Saturday, 18 May 2019

Nifty breaks out from range, Auto index forms Dragon-Fly Doji

The push and pull in the markets have finally seen some relief as Nifty formed a solid bullish candlestick pattern.

The index also broke out from a four day 200-point consolidation zone on the daily chart. In addition, it also broke past its 50-DEMA which was placed around the 11420 zone. Going forward, Nifty is likely to make an attempt to close the May 08, 2019 gap, which is around the 11530 mark.


With positive crossover on the RSI, the current momentum is likely to get extended further. On the downside, 11250 is crucial support. Bank Nifty on the other hand has also formed a solid bullish candlestick pattern breaking the four-day consolidation base. Going forward, the 29950 is the crucial resistance zone, while on the downside, 29100 is the crucial support area for the Bank Nifty.


The Nifty Auto index has bounced back and has formed a Dragonfly Doji pattern on the weekly chart. This is an early sign of a reversal on the cards, which indicates auto stocks like Bajaj Auto, Maruti and Hero Motocorp could attract buying momentum.





Friday, 17 May 2019

Sensex rallies over 200 points led by Yes Bank, Bajaj Finance

Equity benchmark indices opened higher on Friday as the rally was led by HDFC, Reliance Industries, and ITC. Investors remained cautious ahead of exit polls on May 19.

The Sensex was quoting at 37,603, up 209 points, while the Nifty was at 11,310, up 53 points. The market breadth was positive on the NSE with 946 shares advancing, 572 shares declining, and 546 remaining unchanged.


YES Bank, Indiabulls Housing, Coal India, GAIL, and Bajaj Finance were among the major gainers on the Nifty50, whereas Cipla, BPCL, Hindalco, NTPC, and Eicher Motors led losses.


In the broader market, Nifty midcap and smallcap were up 0.50% and 0.66% respectively.


Shares of Aurobindo Pharma slipped 5% on the NSE after the company received letters from the USFDA, classifying the inspections concluded at its API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as Official Action Indicated (OAI), it said in a statement on the exchanges.


Shares of Punjab National Bank are trading flat after the bank terminated an agreement to sell 1.08cr shares of PNB Housing Finance to General Atlantic Group aggregating to Rs925.8cr, as conditions were not met on Long Stop Date of May 15.


The Volatility gauge, India VIX is down 0.64% at 28.18.


The most active stocks on the NSE are Yes Bank, Bajaj Finance, and Reliance Capital.


Meanwhile, the Indian rupee slipped by 23 paise at 70.26 per dollar vs. previous close 70.03/$.




Thursday, 16 May 2019

Lupin drags Nifty Pharma by ~3%

Selling was seen across the pharma space as the day progressed – Lupin tanked 5% to Rs746. The Nifty Pharma index was trading ~3% lower in Thursday’s morning session.

Lupin dropped 5% after the company said it has received three observations from the USFDA for its Aurangabad manufacturing facility. The company posted a net profit of Rs289.56cr in the quarter ended March 2019 as against a net loss of Rs783.54cr during the previous quarter ended March 2018.

Shares of Piramal Enterprises and Cadila, which slumped 4% each, were leading the index’s fall.

Shares of Sun Pharma, Glenmark Pharma, and Cipla, which dropped over 2.5%, also contributed to the index’s fall.

On the other side, Aurobindo Pharma, Divi’s Lab and Biocon were trading marginally down on the pharma index.

Wednesday, 15 May 2019



MCX CALL: SELL SILVER BELOW 37570 TARGETS 37450 / 37320 / 37270 STOPLOSS 37780

Tuesday, 14 May 2019

Gold steadies near one-month peak as trade escalation lifts safe-haven demand

Gold prices held steady near one-month highs on Tuesday as an escalation in Sino-U.S. trade war sent investors looking for safe-haven assets.
Spot gold was mostly steady at $1,298.48 as of 0255 GMT, after hitting $1,303.26, its highest since April 11.
U.S. gold futures were down 0.2% at $1,299.20.

Asian shares extended losses on Tuesday, following sharp falls on the Wall Street overnight, the yen strengthened and U.S. Treasury yields ticked lower after Beijing on Monday announced retaliatory tariff-hike to counter Washington.
"Gold is moving because people are looking to find a safe harbour in the storm while they wait for the dust to settle," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.
"Prices could further rise to $1,310-$1,312 if stock markets end lower. But, any sudden breakthroughs in the trade stand-off possibly could see investors stampeding for the exit as fast as they arrived."

Monday, 13 May 2019

Eicher Motors declines 4% post Q4FY19 numbers

Share of Eicher Motors declined 4% on Monday after the company’s PAT for the fourth quarter of FY19 dropped 16% yoy on Rs544.8cr.

Consolidated revenue for the quarter stood at Rs2,500.1cr, down 1.1% yoy (up 6.8% qoq). Due to subdued sales coupled with higher raw material cost and other expenses, EBITDA declined 14.1% yoy to Rs684.7cr. Thus, EBITDA margin contracted by 415bps yoy to 27.4%, the company said in a press note released after markets hours to the exchanges on Friday.

Motorcycle sales for Royal Enfield registered a decline of 13% yoy to 1,97,567 units. This was mainly on account of challenging H2FY19 for the two-wheeler industry in India with factors such as revision in insurance cost, increase in prices on account of new safety norms, affected consumer sentiment.

Friday, 10 May 2019

Granules India’s Q4FY19 PAT up 78% yoy; stock trades flat

Granules India Ltd., a growing pharmaceutical manufacturing company, posted consolidated PAT higher by 78% at Rs236cr for Q4FY19. Total income for the fourth quarter of FY19 was Rs615cr, an increase of 20% from the same quarter of the previous financial year.

The Company’s Board of Directors has recommended a final dividend of 25 paise /share of the face value of Rs1 each in addition to the interim dividend of 75 paise /share already paid for the financial year 2019.

“I am pleased to see another quarter of continued growth in revenue and profit in fiscal 2019. We achieved this growth on the back of the inherent stability of the molecules in our portfolio combined with our relentless focus on efficient manufacturing. The primary Revenue growth driver for this quarter is the US formulation business, which complimented in an overall improvement in profitability margins compared with the same quarter of the previous financial year.

Thursday, 9 May 2019

Rupee trades lower at 69.85 per dollar

The Indian rupee is trading lower at 69.85 per dollar on Thursday versus previous close 69.71.

On May 8 the rupee registered a third consecutive day fall on the back of rising US-China trade worries and a selloff in domestic equity markets. The rupee ended 29 paise lower at 69.71 per dollar against the US dollar, which is a lowest level since April 24.


Rupee came under pressure in the latter half of the session as uncertainty related to trade talks between US and China rose. Yesterday, U.S. President Donald Trump said that China “broke the deal” it had reached in trade talks with the US. The U.S. Trade Representative’s office announced that tariffs on $200 billion worth of Chinese goods would increase to 25% from 10%, said Motilal Oswal.


Expectations were recently riding high that a deal could be reached, but a deep rift over the language of the proposed agreement opened up last weekend.


Today, USD-INR pair is expected to quote in the range of 69.4 and 70.20, it added.