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Showing posts from June, 2019

Stock Market News - BHEL slips, Cox & Kings Hits, Sobha Drops

BHEL slips almost 1% - NMDC issues termination notice to BHEL on Rs 1,400-crore steel plant contract due to delay in project completion.

Tata Steel dips marginally - European arm's CEO Hans Fischer will step down, effective July 1.
Rupee Opens: The Indian rupee opened higher at 69.01 per dollar on Friday against previous close 69.06.
Block Deal Alert |
Bharti Airtel, Power Finance, UPL Bharti Airtel: About 12 lakh shares changed hands in a block deal.  Power Finance: About 5.6 crore shares or 2.1 percent equity changed hands in a block deal.  UPL: About 16 lakh shares changed hands in a block deal. 
NEWS ALERT | 
Glenmark Pharma gets US FDA nod for Ezetimibe & Simvastatin tablets. Ezetimibe is used to treat high blood cholesterol. Simvastatin is used to decrease elevated lipid levels
NCLT approves the merger of Excel Group and Sumitomo Chem. National Company Law Tribunal, Mumbai Bench, approved and sanctioned the scheme of amalgamation for the merger by absorption of Excel Crop Care wi…

Stock Market News - Coffee Day Gaines 12%, Motherson Sumi Swings

Coffee Day Enterprises Jumps -  The Most In Over A Year Shares of Coffee Day Enterprises rose as much as 11.98 percent, the most since June 11, 2018, to Rs 249.95. Beverage maker Coca-Cola has entered exclusive talks to pick up a significant stake in the country’s largest coffee chain CafĂ© Coffee Day (CCD). "The news is absolutely speculative in nature and as a matter of company policy, we do not have any comments to offer at this point in time," Coca Cola India said in a statement.


Motherson Sumi Swings -  After Block Deal Shares of Motherson Sumi fluctuated between gains and losses to trade a little changed at Rs 119.90. About 45.4 shares of the company changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately. Motherson Sumi traded at 18 times its estimated earnings per share for the coming year.
Aster DM Healthcare Jumps Over 7% -  Shares of Aster DM Healthcare rose as much as 7.2 percent to Rs 128.80. This after True North Fund…

Stock Market News - DHFL Slumps, Emami shares gain 4 %

DHFL Slumps - After Defaulting For Second Time Shares of the non-banking lender fell as much as 9 percent to Rs 68.60 apiece. The Company has made proportionate payment of 40 percent, that is, Rs.150 crore towards maturity of the commercial papers of the aggregate value of Rs 375 crore, according to its exchange filing. The stock has fallen 89 percent in the past 12 months compared with an 11 percent gain in the Nifty Index.


Emami shares gain 4 percent - Shares of Emami gained 4 percent in the early trade on Wednesday. The company in a statement on Monday said the promoters of Emami Group had undertaken a stake sale 10% in Emami Limited for raising approximately Rs 1,230 crores to further reduce debt at the promoter level. The stake sale occurred on the floor of the stock exchange to marquee institutional investors. The total promoter stake in Emami Limited subsequent to the stake sale, stands at a controlling majority of 52.74%. The promoters intend to maintain this controlling majori…

Stock Market News- Tata Steel slips,SBI Life Falls Over 5%

Tata Steel slips over 1%
SBI Life Falls Over 5% - On Investors’ OFS Plans Shares of SBI Life Insurance fell as much as 5.4 percent to Rs 672.35. The company’s foreign partner BNP Paribas Cardif plans to sell up to 2.5 crore equity shares at Rs 650 per share, a discount of 8.5 percent from Monday’s close. The offer shall take place over two trading days on June 25 and June 26. Trading volume was more than 30 times its 20-day average. The stock declined 4.1 percent in the past five days and 1.6 percent in the past 30 days.
Oil Marketers Rally On Falling Crude Prices - Shares of the oil marketing companies rallied after the Brent crude extended declines for the second consecutive trading session and fell 0.85 percent to $64.31 a barrel.
Rupee opens marginally higher at 69.32 per dollar - The Indian rupee opened marginally higher at 69.32 per dollar on Tuesday versus previous close 69.35. On June 24 the Indian rupee has recovered from the low and ended 23 paise higher at 69.35 against the US…

Stock Market News -L&T Top Gainer, Emami Falls After A Block Deal

L&T Top Gainer - On Sensex, Nifty After Order Win Shares of Larsen & Toubro rose as much as 1.5 percent to Rs 1,563.45. The stock was the top gainer on Sensex and Nifty. The company based an EPC order from SJVN Thermal to set up a 2x660 MW ultra-supercritical power plant in Buxar district, Bihar, according to its stock exchange filing. The order is valued at over Rs 7,000 crore as per the company’s order.

Emami Falls After A Block Deal -  Shares of Emami extended declines for the tenth consecutive trading session, their longest losing streak in over a year. The stock fell as much as 5.9 percent to trade at near a five-year low at Rs 272.10. About 3.27 crore shares or 7.2 percent equity of Emami changed hands in a block deal.
IndusInd Bank Gains On Promoters’-  Fund Raising Plans Shares of IndusInd Bank rose as much as 2.5 percent to Rs 1,485. The Hindujas will pump another Rs 2,700 crore into IndusInd Bank Ltd. through a warrant issue to ramp up the promoter holding after the me…

Stock Market Update -Sensex, Nifty fall, Gold price hits lifetime high

Gold price hits a lifetime high on global cues- As the price of gold hit a lifetime high, bullion dealers have started luring customers with 1 percent discount for rolling over their working capital, to remain afloat in this business. Gold futures for delivery in August gained by 0.35 percent on the MCX for trading at Rs 34,150 per 10 grams in early evening trade.

The current spurt in gold prices has, however, reduced jewelry sales by 50 percent as customers prefer to exchange old jewelry with new ones with a mere making charge on it. Also, scrap jewelry sales have intensified in the last two days.
MARKET WRAP - 
Sensex, Nifty fall amid a hike in crude oil price, deficient monsoons- The Sensex closed at 39,194, down 407 points or 1.03 percent, while the Nifty ended at 11,724, down 108 points or 0.91 percent. Both indices logged their third straight weekly fall. The rupee ended at 69.57, compared to the previous day’s close of 69.44. On Friday, the India Meteorological Department said t…

Stock Market News - Tata Motor, Maruti slip 2%: Aurobindo Falls

Tata Motors Worst Performer On Sensex-  Nifty Shares of Tata Motors fell as much as 3 percent to Rs 154.50, making them the worst performer on Sensex and Nifty. Moody's Investor Services Inc. downgraded the company’s corporate family rating and senior unsecured instruments rating, citing sustained deterioration in the company's credit profile due to Jaguar Land Rover Plc 's weak performance.

Maruti Suzuki Declines -  After UBS Downgrades Stock Rating, Cut Price Target Shares of the country’s largest carmaker fell as much as 3.3 percent to Rs 6,400. Brokerage and research firm UBS downgraded the stock rating to ‘Sell’ from ‘Buy’ and cut-price target to Rs 5,800 from Rs 8,000, according to their research report.
NEWS ALERT |  Aurobindo Pharma gets a warning letter from US FDA after Feb inspection:   Unit XI gets a warning letter
Aurobindo Pharma Near 11-Month Low As Regulatory Concerns Prevail Shares of Aurobindo Pharma fell as much as 7.7 percent to Rs 578.65, the lowest in n…

Stock Market News - Tech Shares Decline, HDFC and Adani Green Surges

Tech Shares Decline -  Wipro Falls Over 3% The NSE Nifty IT Index fell 1.06 percent, led by the declines in Wipro Ltd., Tata Elxsi Ltd., and Tata Consultancy Services Ltd.

HDFC Swings -  On Acquisition Plans Shares of HDFC fluctuated between gains and losses to trade 0.58 percent higher at 2,188.10 The company plans to acquire 51.2 percent stake in Apollo Munich for Rs 1,347 crore. Post the acquisition, Apollo Munich will be merged with HDFC Ergo General Insurance. The proposed acquisition is expected to complete within four months and the proposed merger is expected.
CATCH ALL THE MARKET UPDATE 
1. Wipro is among the biggest losers, slips nearly 4%
2.  IFCI slips over 7%
3.  Apollo Hospitals gains over 2%
4.  UPL slips over 2% in early trade
5.  IRB Infra tumbles nearly 10% in early trade
6.  Lakshmi Vilas Bank slips 1% in trade
7.  Reliance Capital skids 5% in trade
8.  Bharat Financial Inclusion is trading over 1% lower
Rupee Opens: The Indian rupee opened higher by 20 paise at 69.48 …

Stock Market News - Tata Steel top Performer, IRB Infra Hits

Tata Steel Ends Four-Day Fall-  Top Nifty Performer Shares of the steelmaker snapped its four-day losing streak and gained close 4.1 percent to Rs 491.80 each. Brokerage firm Goldman Sachs reinstated 'Buy' with a target price of Rs 570 on the stock. On the Indian steel sector as a whole, Goldman said the global activity slowed significantly and China growth concerns impact spreads.

Can Fin Homes Surge-  After Promoter Gets Nod To Cut Stake Shares of the housing finance company rose 5.6 percent, the most in a month, to Rs 363 apiece? Canara Bank board permitted to sell stake in the company in part or full, according to an exchange filing. Stake sale to happen at an appropriate time depending on the market conditions and available options, the filing said.
IRB Infra Hits -  Five Year Low Shares of the Mumbai-based infrastructure company fell for the third session in a row after it declined 14.2 percent intraday to Rs 89.55 each. National Highway Authority of India is seeking a new…

Stock Market News - Jet Airways all Time Low, HDFC AMC Falls

Jet Airways Falls -  Shares of the cash-strapped airline slumped 10 percent intraday to hit an all-time low of Rs 61.60 each. Lenders of Jet Airways will take the company to National Company Law Tribunal and will seek resolution under the Insolvency and Bankruptcy Code, according to a statement issued on behalf of lenders on Monday.

HDFC AMC Falls -  The Most In Six Months Shares of the asset management company fell as much as 6 percent, the most since Dec. 21, 2018, to Rs 1,816.60. In a move to rescue investors of its fixed maturity plans, the asset management company will purchase Essel Group companies’ non-convertible debentures of up to Rs 500 crore, thereby transferring any loss (or gain) due to the investment from investors to itself
Rupee Opens: The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.
Top Gainers & Losers - IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata  Steel, Zee Entertainment are some of the major gainers o…

Stock Market News- BHEL Gains, Laurus Labs Gains,S Chand Falls

BHEL Gains  - After Order Win Shares of Bharat Heavy Electricals rose as much as 1.9 percent to Rs 69.95. The state-run firm won Rs 800 crore Engineering, Procurement and Construction orders for 200 MW solar power plants from NTPC Ltd. and Gujarat State Electricity Corporation Ltd. The stock traded at 16 times its estimated earnings per share for the coming year.

News Alert - 
1  Vedanta down 2% 2  Reliance Industries down over 1.5% 3  NDTV slips over 3% after Sebi takes action against Prannoy Roy and Radhika Roy 4  Jet Airways plunge over 11%
Shriram Transport Finance Falls -  Nearly 8% After Block Deals Shares of Shriram Transport fell as much as 7.8 percent to Rs 1,000, the lowest in a month. About 2.26 crore shares or 10 percent equity of the company changed hands in two block deals, Bloomberg data showed. Buyers and sellers were not known immediately. Trading volume was 2,529 times its 20-day average.
Rupee Opens: The Indian rupee opened flat at 69.80 per dollar on Monday versus Friday&…

Stock Market News- Hexaware Technologies gains, Gruh Finance Falls 7%

Hexaware Technologies gains 2% - on the acquisition: Hexaware Technologies Inc., a wholly owned subsidiary of Hexaware Technologies, India has acquired 100% shares of Mobiquity Inc. and Hexaware Technologies has acquired 100% shares of Mobiquity Softech.
Gruh Finance Falls 7%  - After Block Deal Shares of Gruh Finance fell as much as 6.9 percent, the most in nearly a month to Rs 286.05. About 3.08 crore shares or 4.2 percent equity of the company changed hands in multiple block deals. Adani Gas Jumps - The Most In Over A Week Shares of Adani Gas rose as much as 6.7 percent, the most since June 03, to Rs 180. Total SA is advancing on a deal to acquire a 30 percent stake in city gas distribution (CGD) company Adani Gas for over $800 million, or upwards of Rs 5,500 crore.
Kalpataru Power Gets Its Most Bullish Price Target Yet - Shares Swing Kalpataru Power Transmission just got its most bullish target price ever. Shares of the power transmission company could reach Rs 670, broking firm Phil…

Stock Market News - YES Bank down 6%, Adani Enterprises zooms 2%

Yes Bank, IndusInd Bank top losers -  The leading gainers on BSE are Axis Bank, TCS, Asian Paints, and SBI, while the top losers are Yes Bank, IndusInd Bank, Vedanta, and Infosys. The Indian currency Rupee today opened flat at 69.37 a dollar against the previous close of 69.35 a dollar.

Adani Enterprises zooms over 2% - Adani Gets Key Approval To Start Building Australia Coal Mine Queensland’s Department of Environment and Science approved Adani’s Groundwater Dependent Ecosystem Management Plan for the Carmichael coal, according to Bloomberg report. The decision means Adani can begin work on the first phase, which is expected to cost A$ 2 billion, the report added.
Rupee Opens: The Indian rupee opened flat at 69.34 per dollar on Thursday against previous close 69.34.
Crude Update: Oil prices steadied on Thursday, after slumping as much as 4% in the previous session to nearly five-month lows on the back of a further buildup in US crude stockpiles and worries about lower demand growth.
Top …

Stock Market News - Adani Green Rises, DHFL gains, Reliance Capital fall

Adani Green Energy Rises -  After Promoter Cuts Stake Shares of the renewable energy producer snapped its four-day losing streak and rose as much as 2.4 percent to Rs 43.55 each. Promoter group under name of Gautam S Adani plans to sell cumulatively 5.98 percent stake in the company at a floor price of Rs 43 per share.

DHFL gains -  Dewan Housing Finance (DHFL) informed exchanges Tuesday that the company has made a full payment towards interest payable on secured redeemable NCDs issued by way of the public issue within the cure period of seven working days. Aadhar Housing said that Blackstone has acquired a 97.7 percent stake in the company for including the entire stake held by the existing controlling shareholders, Wadhawan Global Capital Ltd. 
Rupee Opens: The Indian rupee opened flat at 69.45 per dollar on Wednesday against previous close  69.44.
Crude Update: Oil prices fell on Wednesday, weighed down by a weaker oil demand outlook and a rise in U.S. crude inventories despite growin…

Stock Market News - Sun Pharma slips, Sterlite Technologies Jumps

Sun Pharma slips over 2% in early trade

Lakshmi Vilas Bank dips over 6% after Indiabulls Group shares fall on corruption charges.
Indiabulls Housing Finance Worst Performer -  On Nifty Shares of the housing finance company fell as much as 6.2 percent to Rs 687.10. The company’s Promoter Twin Star Overseas released entire pledge of 20.74 crore Sterlite Technologies’ shares (52.01 percent) of on June 10, according to an exchange filing.
Sterlite Technologies Jumps - After Promoter Releases Entire Pledge Shares Shares of the optical cables maker extended gains for the second consecutive trading session and rose as much as 11.8 percent to trade at over a one-month high at Rs 194. 
DHFL, Vedanta, UltraTech Cement, Tata Steel, IndusInd Bank, ITC, TCS, Coal India are some of the major gainers on the indices, while losers include Indiabulls Housing, Sun Pharma, Eveready Industries, Reliance Power, Suzlon, Reliance Power, Bharti Airtel, Yes Bank, and Britannia Industries. On the sectoral front, b…

Stock Market News - Titan Hits, DHFL Rises, J&K Bank slips

Titan Hits Record High -  Shares of the country’s largest jewelry maker rose as much as 1.4 percent to hit an all-time high at Rs 1,286.60. The stock advanced 43 percent in the past 12 months compared to a 13 percent gain the Sensex. The relative strength index stock was above 70, indicating the stock may be overbought.


DHFL Rises -  After Clearing Dues Of Retail Investors Shares of the housing finance company rose as much as 7.2 percent to Rs 89.30 The company paid investors and depositors part of repayments due after missing the deadline earlier this week. 
Reliance Infra Slumps -  After Board Defers Q4 Results Shares of Reliance Infra extended fall for the fifth consecutive trading session and is poised for their longest losing streak in over nine months. The stock fell as much as 9.2 percent to hit an all-time low at Rs 67.15.
Rupee Opens: The Indian rupee opened higher at 69.45 per dollar on Monday versus Friday's close 69.47.
J&K Bank slips 20% - Parvez Ahmed, who was remove…

Stock Market News- Indiabulls Real Estate up 5%, Manappuram Finance slips.

Indiabulls Real Estate Jumps Over 15% -  After Block Deals Shares of Indiabulls Real Estate rose as much as 14.7 percent to Rs 151 On Bombay Stock Exchange. The stock rose as much as 10.1 percent to Rs 144.70 On National Stock Exchange. About 5.79 crore shares or 12.8 percent equity of the company changed hands in a 24 block deals on BSE.
Block Deal: Reliance Power About 13.8 lakh shares of Reliance Power changed hands in a block deal.


Manappuram Finance slips over 8% -  Sebi has sent notice to Manappuram Fin for insider trading. 
Rupee Opens: The Indian rupee opened higher at 69.19 per dollar on Friday against previous close 69.27.
BPCL, HUL, RIL, Maruti Suzuki are among major losers on the Indices, while gainers are Indiabulls Housing, Yes Bank, Gail, Zee Entertainment, IndusInd Bank, Godrej Properties and Page Industries. Among the sectors, metal, bank and IT are trading higher, while some selling was seen in the energy, FMCG and pharma.
Hindustan Unilever slips over 1%
Eros Locked In L…

Market News - DHFL shares down, GAIL Falls

DHFL Plunges To Over Five-Year Low Shares of the non-banking lender declined as much as 18.3 percent to Rs 91.30 apiece, its lowest since December 2013. CARE ratings downgraded all borrowings of DHFL to D from BBB-, according to its statement. Also, its commercial papers were downgraded to ‘D’ (Default) by CRISIL and ICRA owing to liquidity concerns.



Rupee Opens: The Indian rupee opened lower by 14 paise at 69.40 per dollar on Thursday versus Tuesday's close of 69.26.
IndusInd Bank, SBI, ICICI Bank, DHFL Gail, Indiabulls Housing, Yes Bank, Zee Ent, Tech Mahindra, Ultratech Cement, Grasim, Bharti Infratel are among major losers, while gainers are IOC, Tata Motors Bajaj Auto, Lupin and NTPC. Among the sectors, PSU banks and IT space trading under pressure, while auto, FMCG and metal trading with marginal gains.
GAIL Falls On Lower-Than-Expected - Tariff Hike Shares of the state-owned gas distributor fell 9.7 percent intraday, the most in eight months, to Rs 323.40 per share. The Petro…

Stock Market News -L&T Tech Falls, Bharti Airtel Swings

L&T Tech Falls -  On L&T’s Stake Sale Plans Shares of L&T Technology Services fell as much as 1.8 percent to Rs 1,687. Larsen & Toubro plans to sell 3.88 percent stake in the company.


Bharti Airtel Swings - On Africa Unit’s IPO Plans Shares of Bharti Airtel fluctuated between gains and losses to trade 0.16 percent higher at Rs 353.30. The company’s Africa unit plans to raise $750 million plus a greenshoe option of 15 percent of $750 million from IPO, according to its stock exchange filing. 
Axis Bank, ICICI Bank Fall-  After Fitch Ratings Downgrade Shares of ICICI Bank fell as much as 1.3 percent to Rs 417.50 and shares of Axis Bank fell as much as 0.88 percent to Rs 805.80. 
Jubilant Life Sciences Near Three-Year Low - Shares of Jubilant Life Sciences extended declines for the third consecutive trading session. The stock fell as much as 2.5 percent to Rs 476.10, the lowest since August 2016.
Dr. Reddy’s Laboratories Recovers From 12%-  Drop Shares of Dr. Reddy’s Laborator…

Stock Market News- M&M Falls, Bajaj Auto Gains 2%, Oil Market rally

M&M Falls - After Block Deal, May Auto Sales Report Shares of Mahindra & Mahindra fell as much as 1.4 percent to Rs 638.20. About 2.2 crore shares of the company changed hands in a block deal during pre-market trade.

Bajaj Auto Gains 2% -  Bajaj Auto reported a 3 percent increase in its sales at 4.19 lakh units for May, against 4.07 lakh units sold in the same month last year. Domestic sales increased 5 percent to 2.35 lakh units against 2.24 lakh units while exports increased 1 percent to 1.83 lakh units against 1.82 lakh units.
Rupee Opening: The Indian rupee has opened at 69.50 a dollar on June 3, higher by 17 paise compared to Friday's close of 69.67 a dollar.
Hero MotoCorp and Asian Paints top gainers - The Sensex is trading 24 points up at 39,738, while the Nifty is trading 6 points higher at 11,928.75. Hero MotoCorp and Asian Paints shares are among the top gainers, jumping more than 2% each. 
Oil Marketers Rally  - On Falling Crude Prices Shares of the oil marketing co…