MARKET WRAP: Indices end at record closing high, Sensex climbs 260 pts

All that happened in the markets today

3:47 PM

Nifty snapshot at close

3:47 PM

Sensex heatmap at close

3:46 PM

Closing Bell

>> The benchmark S&P BSE Sense scaled fresh peak of 41,899.63 in the early morning trade on Monday. The 30-share pack, however, settled the day at 41,859.69 level, up 259.97 points or 0.62 per cent.

>> On the NSE, the broader Nifty50, too, hit a record high of 12,337.75, suprassing its previous high of 12,311 hit on Friday, January 10. At close, the index was at 12,329 level, up 72.20 points or 0.59 per cent.

 

3:46 PM

BLOCK DEAL ALERT

>> Power Grid ::  0.2% equity exchanged

>> Avenue Supermarts :: 0.5% equity exchanged

>> HDFC Bank :: 40.7 lakh shares worth Rs 523 cr trade in 2 blocks on BSE at Rs 1,287.25

(As reported by CNBC TV18)

3:24 PM

Govt imposes anti-subsidy duty on copper wire rods import from 4 nations

In a notification, the finance ministry said that it has imposed the anti-subsidy or countervailing duty after considering the final findings of the commerce ministry's investigating arm Directorate General of Trade Remedies (DGTR).

 

DGTR has recommended imposition of the duty on the imports of 'continuous cast copper wire rods' from these four countries. READ MORE

3:11 PM

Sector watch | Nifty Realty index rises nearly 2%

2:51 PM

NEWS ALERT | BSE, NSE may suspend trading of Coffee Day Ent, CG Power

>> Companies have not complied with listing norms for consecutive quarters i.e. June 30, 2019 and September 30, 2019 and/or not paid the fine amount levied for said non-compliance.

>>  The trading in securities will be suspended w.e.f. February 03, 2020.

>>  The suspension will continue till such time the companies complies including the payment of fine.

Read circular here

2:43 PM

Contribution to S&P BSE Sensex's gain today

2:41 PM

No adverse findings in forensic report, say Anil Ambani's companies

Reliance Commercial Finance and Reliance Housing Finance have said forensic auditor, Grant Thornton, has not recorded any adverse findings on 11 parameters, including diversion and siphoning off of funds, and embezzlement. Both entities are part of Anil Ambani-controlled Reliance Capital. READ MORE

2:28 PM

Global Markets Check

Asian shares shook off a quiet start to reach new 19-month highs on Monday ahead of the expected signing of a Phase 1 China-US trade deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.61 per cent higher, touching its highest point since June 2018. South Korea’s trade-sensitive Kospi added 1.01 per cent and Hong Kong’s Hang Seng was up 0.95 per cent.

The benchmark European STOXX 600 index was up 0.02% by 1:40 pm.

(With inputs from Reuters)

2:16 PM

Infosys, Wipro, Mindtree: How to trade IT stocks around Q3 results

Infosys kick-started the earnings season for information technology (IT) services firms on Friday. The company's numbers for the December quarter were broadly in line with analysts' expectations with reported revenue and net profit growth higher by two per cent and 10.6 per cent, sequentially. READ MORE

2:03 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADITYA BIRLA CAP	112.65	115.30	3.65	3.35
ALKEM LAB	2338.30	2350.00	69.20	3.05
AMBER ENTERP.	1239.00	1269.30	9.75	0.79
BALKRISHNA INDS	1028.40	1055.00	-11.60	-1.12
BIRLA CORPN.	696.85	712.25	46.50	7.15

 

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1:54 PM

Rupee check

1:47 PM

MARKET CHECK:: Sensex off day's high

1:38 PM

Takeover norms for unlisted firms getting finalised, to be unveiled soon

The new rules, which are under consideration, will allow a person alone or together with other parties owning 75 per cent in an unlisted company to trigger a takeover of the entire shareholding by moving the National Company Law Tribunal (NCLT). READ MORE

1:27 PM

Cement shares extend gain: Shree Cement, Birla Corp rally over 10% in one week

Shares of cement manufacturers continued to trade higher for the fifth straight day on Monday on expectations of demand recovery, as analysts believe that risk/reward for the sector looks favorable at current levels. Shree Cement, Ramco Cement, Birla Corporation and Orient Cement have rallied more than 10 per cent in the past one week. READ MORE 

1:24 PM

BROKERAGE RADAR | Anand Rathi Shares on Ahluwalia Contracts (India)

Strong revenue assurance and a net-cash balance sheet suggest Ahluwalia has the requisites in place for inspiring growth ahead. With most of its recently added orders already grounded, we believe the recent subdued revenue growth will soon become a thing of the past. Management’s preference for cash flows over revenue growth augurs well, and indicates priorities are in the right place. Due to the strong revenue assurance, well-placed balance sheet and sound strategy, we retain our Buy.

1:21 PM

RESULT UPDATE:: Tata Elxsi Q3 net profit up 51.4% at Rs 75.4 cr vs Rs 49.8 cr (QoQ)

-- Revenue up 9.7% at Rs 423.4 vs Rs 386 cr (QOQ)
 

-- Ebitda up 33.9% at Rs 94.2 cr vs Rs 70.4 cr (QoQ)
 

1:21 PM

BROKERAGE RADAR | Standard Chartered Securities on Indraprastha Gas

We have initiated a buy trade Indraprastha Gas (IGAS.NS) at Rs 418.65 (as of close 10th January 2020).

 

Fundamental View : IGL recorded an increase in revenue by c.19.3% y/y and net profit before extraordinary items by c.32% in 2QFY20. The EBITDA margin has improved by c.130bps y/y mainly led by improvement in unit margins. The bullish connotation is driven by price differential with other fuels and possible margin expansion in the CNG space. Also, there is a potential upside to gas demand in the wake of increase in automobile prices due to BS VI implementation for diesel and petrol. The stock currently trades at c.22.81 times FY21E P/E (Thomson Reuters). The company has also turned free cash flow positive in 1H FY20 vs. 1HFY19 despite capital expenditure during the period.

 

Stop Loss: We have placed the stop loss at Rs 380.

1:09 PM

DGCA extends deadline till May 31 for IndiGo to replace P&W engines

India's aviation regulator on Monday said it has extended deadline for IndiGo to replace all 135 unmodified Pratt and Whitney (PW) engines from Jan 31 to May 31. The Directorate General of Civil Aviation (DGCA) had earlier directed the budget carrier to carry out replacements on 97 Airbus A320neo aircraft having turbine blades built with titanium by January 31, 2020 following a series of engine incidents. The airline will have to replace such aircraft with those having sturdier engine turbine blades built with nickel-chromium alloy. READ MORE

12:59 PM

BROKERAGE RADAR | Motilal Oswal Financial Services on Avenue Supermarts

• DMART’s robust execution on core Retail operating parameters in an environment of consumption slowdown is quite impressive and demonstrates the superiority of its business model.
• Its consistent superlative performance has ensured strong valuation re-rating in the last three years since its listing and resulted in massive outperformance vs. market and other Retail peers. Therefore, the relative moderation in revenue growth coupled with high capex could impact DMART’s return ratios and could compress valuation multiples in our view, despite its continued stellar relative earnings outperformance .
• Valuations at 54x FY22 P/E and ~35x FY22 EV/EBTTDA are expensive and provides no margin of safety. Maintain SELL with TP of Rs 1,700.

12:57 PM

NEWS ALERT | Govt may announces sops for Pharma sector in Budget 2020: govt official to CNBC TV18

>> Govt working on package to encourage drug discovery, R&D in medical devices

>> Pharma Dept working in GST Council-like Research Council 

>> Dept of Science & Tech, Biotech, Health & Family welfare officials to be part of Research Council

>> Govt may announces steps to reduce dependence on critical APIs imported from China

>> Pharma Dept proposes to increase tax incentives to boost R&D,; Pharma Dept asks Fin Min to consider 200% tax incentive for research

12:51 PM

NEWS ALERT | Tata Power Solar gets LoA from NTPC for a 250 MW solar project: BSE filing

>> Porject under CPSU scheme

>>  The total value of the order is Rs 1,505 crore and the completion period is 20 months

>> Alert: LoA is Letter of Award

             : The order book of Tata Power Solar, now, stands at approximately Rs 7,600 crore including external and internal orders.

12:45 PM

Lupin dips 2% as USFDA classifies Tarapur unit as Official Action Indicated

Shares of Lupin declined 2 per cent to Rs 741 on the BSE on Monday after United States Food and Drug Administration (USFDA) -- the US health regulator -- issued three observations to the drug company's Tarapur facility. The stock has fallen 3 per cent from the intra-day high level of Rs 764 touched in the early morning trade. READ MORE

12:35 PM

Broader markets outperform benchmarks

12:34 PM

NEWS ALERT | DGCA extends deadline for IndiGo to replace unmodified PW engines till May 31: CNBC TV18

-- IndiGo, Pratt & Whitney had requested engine replacement for entire fleet by June 2020

12:31 PM

NEWS ALERT | Nusli Wadia withdraws criminal defamation case against Ratan Tata: CNBC TV18

12:25 PM

NEWS ALERT | PM to review Pharma sector's vision on Jan 17: govt official to CNBC TV18

12:24 PM

Auto stocks slip in trade; Nifty Auto index down 0.2%

12:16 PM

Reserve Bank of India buys net $6.93 bn in currency market in November

The Central Bank of India bought a net $6.93 billion in the foreign exchange market in November, marginally below the $7.1 billion it had purchased in the previous month, the monthly bulletin showed. The Reserve Bank of India (RBI) bought $7.46 billion and sold $530 million in the market in November, it said in the bulletin which was released on Saturday. READ MORE