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Showing posts from March, 2019

Market Update - PNB gains 2%; MSTC hits; IndusInd, Axis bank slums

Punjab National Bank Swings - On Unit Stake Sale Plans Shares of the state-run lender fluctuated between gains and losses to trade 0.58 percent higher at Rs 95.95 The PSU Bank plans entered into an agreement to sell 1.08 crore shares in PNB Housing Finance to General Atlantic Group at Rs 850 apiece, according to its stock exchange filing. The bank also plans to sell 1.08 crore shares in PNB Housing Finance to Varde Partners at Rs 850 a piece, it said, adding that the total stake sale is worth about Rs 1,851.6 crore.

IndoStar Capital Finance Jumps - On Heavy Volumes Shares of IndoStar Capital Finance extended gains for the fifth consecutive trading session, its longest gaining streak in over three weeks. The stock rose as much as 10.7 percent, the most in over three months, to Rs 422.40.
Rupee rises 15 paise to 69.15 against US dollar in early trade - The rupee appreciated by 15 paise to 69.15 against the US dollar in opening trade Friday, driven by sustained foreign fund inflows and hig…

HCL surges 4%,DHFL gains 14%,Godrej Properties rises 4%

HCL surges 4% - HCL Technologies shares rose 4 per cent to Rs 1,081 on the BSE in early morning trade. HCL Technologies was up 3 per cent at Rs 1,073 and was the top gainer among S&P BSE Sensex and Nifty 50 index. 

Tata Motors Falls - After S&P Rating Downgrade Shares of the Jaguar Land Rover-parent declined for the second trading session after falling as much as 1.4 per cent to a one-month low of Rs 167 per share. Tata Motors’ long-term rating was downgraded to ‘B+’ from ‘BB-’ by S&P. 
DHFL gains 14% - Shares of Dewan Housing Finance Corporation (DHFL) moved 14 per cent higher to Rs 155 in intra-day trade on the BSE on Thursday on back of heavy volumes after reports emerged that Piramal Group and Baring Private Equity (PE) were in advanced stage of negotiations to acquire majority stake in the housing finance company.
Godrej Properties rises 4%- Shares of Godrej Properties rose 4.2 per cent intraday Thursday after CLSA maintained buy call on the stock with a target at Rs 1,0…

Market News - GMR Infra gains, United Breweries Jumps 9% , Bank stocks rally

GMR Infra gains- GMR Infra At Near Seven-Month High as much as 9.8 per cent to Rs 21.35, its highest level since Sept. 03, 2018. The company announced that a consortium of a Tata Group company, Singapore's sovereign wealth fund GIC and SSG Capital Management have agreed to invest around Rs 8,000 crore in its airports business.

Bank stocks rally helps Nifty Bank to touch a fresh record high of 30,100 - A rally in blue-chip bank scrips led by IndusInd Bank helped the Nifty Bank index surge past the previous high of 30,008-mark. IndusInd Bank shares are trading 4% higher at Rs 1779 on NSE, while Yes Bank shares are higher by 2.5% to Rs 260. RBL, Bank of Baroda, IDFC, Axis Bank, HDFC Bank all touched their respective 52-week highs. 
Sheela Foam At Over 20-Month Low- Shares of the Ghaziabad-based foam maker fell as much as 7.5 percent to Rs 1,206, the lowest since July 2017. The promoters said they will sell 42.3 lakh shares or 8.68 percent of equity capital of the company with an over-s…

Market News- ICICI Prudential Falls,Jet Airways Jumps Over 8%

ICICI Prudential Falls-  After Promoter’s Stake Sale Plans Shares of the life insurance company fell as much as 3.1 per cent to Rs 312.15, the lowest in a month. Promoter Prudential Corporation Holdings said it will sell 3.73 crore shares or 2.6 per cent of the equity share capital of the company with an over-subscription option of another 1.1 per stake.
Jet Airways Jumps Over 8% - Shares of Jet Airways extended gains for the second consecutive trading session and rose as much as 8.5 per cent to Rs 275.70. The stock rose 17.5 per cent intraday yesterday. The follows the resignation of founder Naresh Goyal and wife Anita from the company's board, and infusion of Rs 1,500 crore by its lenders. 
Rupee Opening - The Indian rupee opened higher at 68.88 against the US dollar on March 26, 2019. It appreciated by 5 paise compared to Monday's close of 68.93 to the dollar. 
Indiabulls Housing, Zee Entertainment, Eicher Motors, GAIL, Adani Ports, Bharti Infratel and Reliance Industries wer…

Market Update - Sun Pharma, Tata Motors among top losers , Vedanta dips 3%

Sun Pharma, Tata Motors among top losers  - Sun Pharma shares are trading 2% lower at Rs 463.50, while Tata Motors Declines For The Third Straight Session Shares of the carmaker declined as much as 2.2 per cent to Rs 171.60, its lowest in over a month. 
Tata Motors is said to increase prices of its passenger vehicles from April 2019 by up to Rs 25000. The stock declined 48 per cent in the past 12 months compared with a 16 per cent gain in the Sensex.

Godrej Properties, Voltas, Jet Airways, Vedanta, Tata Motors, Hindalco, Yes Bank, JSW Steel, DLF, Sobha, Godrej Properties, Zee Entertainment, RIL, ICICI Bank, are among major gainers on the indices, while losers are IOC, Coal India, Dhampur Sugar and Balrampur Chini. All the sectoral indices are trading in red led by PSU bank, pharma, metal, auto, FMCG and energy.

Rupee opens 11 paise lower against US dollar amid weak global cues - The rupee opened 11 paise lower at 69.06 against the US dollar on Monday. On Friday, the domestic unit decli…

Market News- Bharti Airtel,Yes Bank,HDFC Bank top gainers

Bharti Airtel, Yes Bank top gainers - Bharti Airtel shares gained more than 2% to Rs 342.10 on BSE, while Yes Bank shares jumped more than 1.5% to Rs 257 to emerge among the top Sensex gainers. Indiabulls Housing, NTPC, Yes Bank, Grasim Industries, Bajaj Finserv, L&T, JSW Steel, Eicher Motors are among major gainers on the indices, while losers are Coal India, TCS, Maruti Suzuki, Adani Ports, HUL, Bharti Infratel and Wipro. Among the sectors, except IT and metal all other sectoral indices are trading in green.
Rupee Opens: The Indian rupee gained in the early trade on Friday. It opened higher by 18 paise at 68.64 per dollar versus 68.82 yesterday.
HDFC Bank Top Gainers - HDFC Bank Surges To Record Shares of HDFC Bank extended gains for the fifth consecutive trading session and rose as much as 0.35 per cent to hit an all-time high. The stock traded at 29 times estimated earnings per share for the coming year.
Mindtree Falls-  After Board Scheduled To Meet Again Shares of the IT firm f…

Market News- Jet Airways in focus, Arvind Fashions Hits 5 %, RIL Top Loser

Jet Airways in focus: Lenders to the airline will look for equity infusion from a new investor to replace Etihad. The new investor is likely to be an investment fund. Banks may initiate talks with few investment funds that conducted due diligence on the company. Also, lenders are looking at the option of asking Etihad, Naresh Goyal to pledge their shares. Jubilant Life Sciences Falls -  After Block Deal Shares of the life sciences company fell as much as 7 per cent to Rs 782.55. About 33 lakh shares of the company changed hands in a block deal. While buyers and sellers were not known immediately “Jubilant Employee Welfare Trust to sell 35 lakh shares in Jubilant Life Sciences Ltd. to raise at least Rs 367 crore ($39 million) at the floor price.
Rupee opens marginally lower ahead of Fed decision - The Indian rupee on Wednesday was trading marginally weaker against the US dollar, tracking losses in Asian currencies as traders wait for the Federal Reserve’s policy decision amid the latest …

Market Update - RCom shares gain 10%, ADAG stocks in focus, L&T slumps

RCom shares gain 10% - Shares of Anil Ambani-led Reliance Communications surged 10% on Tuesday afternoon to Rs 4.40, after a statement confirmed that RCom has made a payment of Rs 550 crore and interest thereon to Ericsson, in compliance of the judgement of the Supreme Court. Gainers include Sun Pharma, BPCL, RIL, Bharti Airtel, SBI, Axis Bank, PNB, Canara Bank, while losers are Maruti Suzuki, Eicher Motors, ICICI Bank, Hero Moto, M&M, Bajaj Auto and L&T. Among the sectors, auto, infra and metal are under pressure, while pharma, IT, energy and bank are witnessing buying interest.
L&T slumps - Larsen & Toubro on Monday said it has bought a 20.32 per cent stake in IT services company Mindtree for Rs 3,269 crore. L&T, which is acquiring the shares from Indian coffee baron VG Siddhartha and companies related to him, said it had also placed an order with its broker for an on-market purchase of up to 15 per cent of Mindtree’s shares at Rs 980 per share.
Crude Update: Oil pr…

Market News- Bharti Infratel Gains, Kotak Mahindra top gainers, Mindtree rises 2%

Bharti Infratel Gains After A Block Deal - Shares of Bharti Infratel rose as much as 2.7 per cent to Rs 321.60. About 16 crore shares of the company worth over Rs 5000 crore changed hands in a block deal during pre-market trade. While buyers and sellers were not known immediately, Bharti Airtel had earlier informed the exchanges that it will transfer up to 32 per cent stake to its wholly owned subsidiary Nettle Infrastructure Investments Ltd. by March 18.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 18 paise at 68.91 per dollar against Friday's close 69.09.
Mindtree, IOC, Kotak Mahindra, Bharti Infratel, Axis Bank, Asian Paints, Power Grid, TCS, M&M are among major gainers, while losers are Maruti Suzuki, Grasim, Vedanta, NTPC and Wipro Among the sectors, auto, metal and pharma are under pressure, while Nifty Bank gained 1 per cent followed by energy, FMCG and Infra.
Kotak Mahindra Bank shares are trading 3% higher at Rs 1,360 to emerge …

Market News-Tech Mahindra up 1%,RIL, Infosys, Bajaj Auto to be in focus

Tech Mahindra up 1%: The IT company will acquire Japan-based mobile network solution firm K-Vision for $1.5 million in an all-cash deal.

Stocks to watch:
Reliance Industries: Shares of India’s most valued company by market capitalization, Reliance Industries will be in focus today after Brookfield announced Thursday that it would be buying the loss-making gas pipeline East-West Pipeline for Rs 13,000 crore from it.
Bajaj Auto: Brokerage house Credit Suisse said in a report that Bajaj Auto’s could decline in the first half of FY 20. The company has been reluctant to increase its dividend payout and investors would prefer it to return excess cash.  Credit Suisse has maintained a neutral stance on the company at a target price of Rs 2,700 per share.
Infosys: The Indian IT major company Infosys has got shareholders approval for the buyback of its shares and to reappoint Kiran Shaw as an independent director.
Coal India: State-owned Coal India said Thursday that its board has approved payment …

Market News - HDFC Bank Extends Record Run ,Jubilant Food Works Gains

HDFC Bank Extends Record Run - Shares of HDFC Bank extended gains for the sixth consecutive trading session, its longest gaining streak since September 2017. The stock rose as much as 0.94 per cent to hit an all-time high at Rs 2,247. Trading volume was more than double its 20-day average, The Relative Strength Index was above 70, indicating that the stock may be overbought.

Jubilant FoodWorks Gains On Promoter’s Stake Sale Plans-  Shares of the Domino’s Pizza operator in India halted a two-day fall and rose as much as 3.3 per cent to Rs 1,369. The company’s promoter Jubilant Consumer Private Limited plans to sell 40 lakh shares at the floor price of Rs 1,272.6 apiece, aggregating to Rs 503.8 crore via secondary placement of shares. 
Rupee trades lower against US dollar The Indian rupee on Thursday weakened marginally against the US dollar, tracking losses in its Asian peers as traders assess the global slowdown with China reporting weaker-than-expected industrial production data. The r…

Market News : SpiceJet falls 5%, Nifty below 11,300 , IOC slips 4%

Shares of SpiceJet slumped 5 per cent in the early trade as the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, has grounded Boeing 737 MAX planes till “appropriate safety measures” are undertaken. SpiceJet, as well as Jet Airways, operate Boeing 737 MAX 8 aircraft.

Market Opens: It is a flat start for the Indian indices on Wednesday with Nifty below 11,300 level. The Sensex is down 26.84 points at 37508.82, while Nifty is down 15.20 points at 11286. About 585 shares have advanced, 486 shares declined, and 33 shares are unchanged. 
Interglobe Aviation, Apollo Tyres, Nestle, Eicher Motors, RIL, Wipro, ITC, HUL, Infosys are among major gainers on the indices, while losers are IOC, HPCL, Vedanta, JSW Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Allahabad Bank, Oil India and ONGC. On the sectoral front, auto, bank, infra and metal indices are witnessing selling pressure, while FMCG and IT indices are trading with marginal gains.
Kotak Mahindra Bank Halts Th…

Market Update:Nifty nears 11,250; HDFC Life down 5%; Jet Airways jumps

HDFC Life down 5% - HDFC Life Insurance Company Ltd on Monday said that its promoter Standard Life will sell 70 million shares or 3.4 per cent stake through an offer for sale (OFS) on March 12 and 13. 
The sale offer has a green-shoe option of 29.5 million shares, it also said in a regulatory filing. The share sale base price has been fisex at Rs 357.5 per share, it added.
Market Opens: Indian indices continued its upward momentum on the second day on Tuesday with Nifty opened above 11,200 level. The Sensex is up 291.67 points at 37345.77, while Nifty is up 80.50 points at 11248.50. About 759 shares have advanced, 129 shares declined, and 24 shares are unchanged. 
RIL, Tata Motors, IOC, Bajaj Finserv, HDFC, Dabur, Ashok Leyland, Union Bank, IOB, Coal India, HDFC Bank, Gail, Grasim Industries are among major gainers on the indices, while losers are Bharti Airtel, Bharti Infratel and HDFC Standard Life. All the sectoral indices are trading higher led by energy, infra and metal.
Rupee Open…

Share Market:RIL, HDFC Bank Top Gainers,ONGC jumps 2%,SBI share in focus

SBI share in focus - Shares of State Bank of India rose as much as 1.5 per cent to Rs 285.50. The country’s largest lender linked interest on savings bank deposits above Rs 1 lakh to the Reserve Bank of India’s repo rate. The effective savings bank deposit rate for Rs 1 lakh and above stands at 3.5 per cent.

Market opens: It is a positive start for the indices on Monday with Nifty inching towards 11,100 marks. The Sensex is up 212.54 points at 36883.97, while Nifty up 68.90 points at 11104.30. About 739 shares have advanced, 208 shares declined, and 53 shares are unchanged.

Sadbhav Infra, GMR Infra, Jet Airways, Dilip Buildcon, SBI, ONGC, IOC, Titan, Dr Reddy’s Lab, Bharti Infratel, JSW Steel, Hero Moto, are some of the gainers on the indices, while lowers are Kotak Mahindra Bank, CG Power, Reliance Infra, TCS, Nalco and REC.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It has opened higher by 14 paise at 70.01 per dollar versus previous close 70.15.

Crude Update: O…

Market Update - Wipro slips 3%, Sensex, Nifty Open Lower

Wipro shares fall 4% after a huge block deal - Shares of Wipro fell nearly 4% to ₹258 on NSE after a huge block deal. Around 0.4% stake of the company changed hands in a single block deal. 

While buyers and sellers were not known immediately, the Azim Premji Trust, part of the promoter group that owns 74.3 per cent in the software services provider, plans to sell a minimum of 0.29 percent, or 1.78 crore shares through block deals, according to sources who spoke on the condition of anonymity as the information is not public yet. The stock traded at 16.5 times its estimated forward earnings per share compared to 15.2 times for the two-year historical average.
Opening Bell: Sensex, Nifty Open Lower Indian equity benchmarks opened lower, tracking its Asian peers amid signs China is trying to slow down the country’s equity rally and after cuts to economic forecasts at the European Central Bank reignited concern on global growth. The S&P BSE Sensex fell as much as 0.31 per cent to 36,610…

Market Update - Tata Motors gains 2%,Tata Steel slip,Sensex flat, rupee gains past 70/dollar

Shares of Tata Motors gained over 2 per cent in the early trade.
Market Opens: It is a firm start for the Indian indices on Thursday with Nifty trading above 11,050 level.
The Sensex is up 45.83 points at 36681.93, while Nifty is up 4.40 points at 11057.40. About 557 shares have advanced, 285 shares declined, and 45 shares are unchanged. 
IndusInd Bank, Power Grid, HPCL, IOC, BPCL, Tata Motors, Titan, Zee Ent, Gail, Bharti Airtel are some of the gainers in the early trading session, while losers include Biocon, Indiabulls Housing, Tata Steel, Vendata, JSW Steel. Among the sectoral indices, the metal index is under pressure with 1 per cent cut, followed by auto, pharma and PSU Bank, while some buying is seen in the energy, infra, FMCG and IT.
Rupee Strengthens Past 70/$ - The Indian rupee opened higher against the U.S. dollar. The home currency strengthened past 70 against the against the greenback for the first time since January. Easing tension on the border and strong foreign inflows a…

Market Update-DHFL gains 18% ,ITC, ICICI Bank Top Gainers,Nifty opens above 11,000

DHFL gains 18%- DHFL surged in the early trade as an independent chartered accountant, TP Ostwal gave company clean chit on most allegations by Cobrapost. The stock is up nearly 24 per cent in the early trade.

Market Opens: The Sensex is up 158.64 points at 36601.18, while Nifty is up 47.10 points at 11034.60. About 777 shares have advanced, 146 shares declined, and 43 shares are unchanged.

Wipro, Indiabulls Housing, L&T, HPCL, BPCL, ITC, Vedanta, Grasim, DHFL, are the top gainers on the indices, while losers are Bharat Forge, Reliance Capital. All the sectoral indices are trading green, while midcap and smallcap also up 0.6 per cent.
Rupee Opens: The Indian rupee opened lower by 10 paise at 70.59 per dollar on Wednesday versus previous close 70.49.
Crude Update: Oil prices fell more than 0.5 per cent on Wednesday as bullish output forecasts by two big U.S. producers outweighed recent OPEC-led efforts to rein in crude production.
ITC was up nearly 2 per cent at Rs 287.75 and Vedanta …

Market Update - Eicher Motors slips 2% , HDFC Top Losers , Nifty below 10,850

Eicher Motors shares fell 3 per cent in the morning on Tuesday as global brokerage house Citi has maintained buy call on the stock but slashed price target to Rs 24,700 from Rs 25,200 earlier.

The price cut was after the brokerage house reduced its consolidated earnings estimates by 2-3 per cent over FY19-21. The stock was quoting at Rs 19,583.90, down Rs 354.35, or 1.78per cent on the BSE.
Opening Bell: Sensex, Nifty Open Lower Indian equity benchmarks resumed declines after a one-day gain on Friday. The S&P BSE Sensex fell as much as 0.38 per cent to 35,926.44 and the NSE Nifty 50 fell as much as 0.43 per cent to 10,817.85. The market breadth was tilted in favour of sellers. About 890 stocks advanced and 469 shares declined on National Stock Exchange. 
Jet Airways Falls -  After Lessors Ground Six More Aircraft Shares of the cash-strapped airline declined 4.3 per cent to Rs 224 per share. Lessors grounded six more Jet Airways’ aircraft due to non-payment, according to its notifica…

Market Update - Bharti Airtel down 4%, SBI Life Falls 12%, Sensex gains 200 pts

Bharti Airtel shares slumped by nearly 4% to hit Rs 305.55 on NSE after the firm finalised a fund-raising plan of up to Rs 32,000 crore through a combination of Rs 25,000-crore rights issue and a Rs 7,000-crore perpetual bonds float to build a war chest to reduce debt. 

Over the last 30 days, the BHARTI AIRTEL share price is up 2.3%. And over the last one year, BHARTI AIRTEL share price is down 27.0%.
SBI Life Falls 12% - After 35 Block Deals Shares of SBI Life Insurance fell as much as 12.1 per cent, the worst fall since its listing on Bombay Stock Exchange, to Rs 510. About 7.88 crore shares or 7.9 per cent equity of the company changed hands in 35 block deals on BSE.
Market Opening: Benchmark indices started off the last day of the week on a strong note after three-day fall. Likely de-escalation between India and Pakistan after Pakistan Prime Minister announced that his country will release captured IAF Wing Commander lifted sentiment. The 30-share BSE Sensex rallied 223.53 points to…