MARKET WRAP: Sensex up 227 pts, mid-cap rally continues; metal stocks gain

All that happened in the markets today

3:44 PM

Nifty snapshot at close

3:43 PM

Sensex heatmap at close

3:42 PM

Closing Bell

>> At close, the S&P BSE Sensex settled at 41,613.19 level, up 226.79 points or 0.55 per cent.

>> The NIfty50 index ended 67.90 points, or 0.56 per cent, higher at 12,248.25 mark.

3:18 PM

Oil marketing companies to take on RIL with e-discounts, cashbacks

Two state-run oil marketing companies are offering discounts on digital transactions at their petrol outlets. Representatives of the fuel retail industry see it as a sign of competition from the recently announced Jio-BP venture. READ MORE

3:06 PM

BSE Midcap index hits 52-wk high; AU Small, ICICI Securities at new highs

AU Small Finance Bank, ICICI Securities and Indraprastha Gas (IGL) from the midcap index hit their respective all-time highs in the intra-day trade today. While, Amara Raja Batteries, MRF, Page Industries, Tata Chemicals, Torrent Power and Voltas touched their 52-week highs. READ MORE

2:48 PM

NEWS ALERT | The government is discussing multiple options on personal income tax cut in Budget 2020: CNBC TV18

2:44 PM

Heatmap: S&P BSE Sensex

2:26 PM

Global Markets check

European shares gained on Friday as the World Health Organization stopped short of calling the virus outbreak in China a global emergency, with focus turning to flash PMI readings from major economies in the region.

After four consecutive sessions of declines, the pan-European STOXX 600 climbed 0.8 per cent by 0804 GMT. Germany's DAX rose the most among regional peers.

Asian shares steadied on Friday in holiday-thinned trade for the Lunar New Year. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.12 per cent, while Japan's Nikkei gained 0.13 per cent and Australian stocks added a marginal 0.04 per cent.

 

Trade in Asia was already slowing down for the Lunar New Year holiday, with financial markets in mainland China, Taiwan and South Korea closed on Friday. Hong Kong's Hang Seng ended up 0.15 per cent, trading for a half-day due to the holiday.

2:16 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
AMARA RAJA BATT.	807.75	811.25	16.80	2.12
AMBER ENTERP.	1371.15	1378.25	6.15	0.45
APL APOLLO	2039.70	2070.00	28.80	1.43
ATUL	4507.05	4564.00	123.60	2.82
AU SMALL FINANCE	1019.90	1032.15	45.15	4.63

2:06 PM

ICICI Bank Q3 preview: Essar Steel recovery may trim provisions, aid profit

For private lender ICICI Bank, one-time gain from Essar Steel resolution would be the biggest factor driving the bank’s December quarter earnings for FY20 (Q3FY20). On the back of an estimated recovery worth over Rs 2,000 crore, the bank is likely to see provision write-off, stable slippages, and improved credit cost. At the bourses, the bank has outperformed the indices during the quarter under review. Between October and December, 2019, the stock of the lender surged 24.3 per cent, as against a 6.68 per cent rise in the benchmark S&P BSE Sensex. READ MORE

2:04 PM

RESULTS CORNER:: Ultratech consolidated Q3 net profit up 90.2% at Rs 711.3 cr vs 374.1 cr (YoY)

-- Standalone net profit at Rs 643.2 cr

-- Standalone revenue at Rs 9,981.8 cr

-- Standalone Ebitda margin at 17.9%
 

-- Othe income at Rs 164 cr

 

1:42 PM

MARKET UPDATE:: Sensex up 200 points, at day's high now

1:41 PM

MARKET UPDATE:: Nifty reclaims 12,250

1:34 PM

Broader markets continue good run, outperform benchmarks

1:27 PM

Rupee check

1:26 PM

BUZZING STOCK | BHEL trades 3.5% higher

12:54 PM

BUZZING STOCK:: Allcargo Logistics continues its winning run, surges over 10%

12:40 PM

Sector watch:: Metals gain

COMPANY NAME	LATEST	CHG (rs)	CHG(%)
NMDC	130.65	-2.40	-1.80
COAL INDIA	194.40	3.65	1.91
VEDANTA	156.60	2.45	1.59
HIND.COPPER	46.45	1.45	3.22
TINPLATE CO.	155.40	1.50	0.97
DEC.GOLD MINES	24.50	0.20	0.82

12:28 PM

Early birds bring little cheer: Key firms post sub-par pre-tax Q3 profit

The earnings season of October-December 2019 quarter of financial year 2019-20 (Q3FY20) has got off to a dull start for corporate India, as pre-tax profit growth for early birds was second lowest in seven quarters, while net sales growth hit a three-year low. The combined profit before tax (PBT) of 143 early companies that declared their Q3FY20 results was up 12.3 per cent year-on-year (YoY) led by decline in raw material and energy costs. READ MORE

12:20 PM

SC stays NCLAT order in Tata-Cyrus Mistry matter, dismisses RoC plea

The Supreme Court on Friday stayed the National Company Law Appellate Tribunal's order dismissing the Registrar of Companies (RoC) plea seeking modification of its verdict in the Tata-Cyrus Mistry matter. A bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant agreed to hear Tata Sons Pvt Ltd's appeal and issued notice to the parties concerned. READ MORE

12:12 PM

Nifty sectoral indices at this hour

12:04 PM

YES Bank records sharpest intra-day gain in six weeks, up 17% in two days

The stock has rallied 17 per cent in the past two days, after the country’s largest public sector bank’s State Bank of India (SBI) Chairman Rajnish Kumar said he’s certain “some solutions will emerge” to steady YES Bank, which has been on a prolonged quest to raise new capital. READ MORE   

11:56 AM

Singapore overhauls fund regime to bolster industry, attract offshore funds

Singapore’s attractiveness as a destination for Indian and global offshore funds is likely to get a leg-up, with the country adopting a new fund framework this year. Termed the Variable Capital Companies (VCC), the new corporate structure will provide fund managers greater operational flexibility and cost savings. Fund managers can incorporate new VCCs or re-domicile their existing investment funds with comparable structures by transferring their registration to Singapore as VCCs. READ MORE

11:42 AM

Century Textiles hits fresh 52-week high on fund raising plan via NCDs

Shares of Century Textiles & Industries hit a fresh 52-week high of Rs 610, up 4 per cent on the BSE on Friday after the company announced fund raising plan of up to Rs 400 crore through non-convertible debentures (NCDs). The BK Birla Group company's stock was trading higher for the sixth straight day. In the past week, it has rallied 15 per cent, as compared to 1 per cent decline in the S&P BSE Sensex. READ MORE

11:38 AM

NEWS ALERT | Not received any (new) request from SEBI to conduct further audits: Infosys

>> Says, the Company had received letters from regulatory authorities seeking information on the anonymous whistleblower investigation. The Company continues to cooperate with regulatory authorities.

>> Clarifies, not received any request from SEBI as reported in the media on Jan 23, 2020.

11:28 AM

BUZZING STOCK:: YES Bank surges 8%

11:16 AM

Bank of Baroda Q3 preview: DHFL could dent asset quality, say analysts

Analysts at Reliance Securities see exposure to DHFL worth Rs 20 billion slipping in this quarter. Other NBFC exposures, however, appear safe as they have already been recognized as NPA in Q2FY20, they said.

 

“Reversal of provisions from Essar Steel exposure (nearly Rs 17 billion) could partly compensate for the higher provisioning requirements for slippages from NBFC portfolio,” they said. READ PREVIEW HERE

11:03 AM

Adani Gas crashes 14% on report of gas regulator's notice on non-disclosure

Shares of Adani Gas slipped 14 per cent to Rs 148 on the BSE in Friday's session on reports that Petroleum and Natural Gas Regulatory Board of India (PNGRB) has sent a notice to the company for failing to disclose crucial information regarding a scheme of arrangement with Adani Enterprises. According to the report, Adani Gas has bid for gas projects using networth calculations of Adani Enterprises and that the company’s shareholding changes and restructuring violated city gas distribution regulations. READ MORE

10:54 AM

KEI Industries gains 5% post launch of QIP issue to raise Rs 500 cr

Shares of KEI Industries jumped 5 per cent to Rs 547 on the BSE on Friday, after the cable maker undertook the issue of equity shares on a qualified institutions placement (QIP) basis. The company said it launched a qualified placement of shares on Thursday and fixed the floor price of Rs 518.14 per share. It plans to raise up to Rs 500 crore from the issue. READ MORE

10:51 AM

BROKERAGE RADAR | JM Financial on PNB Housing Finance

We believe a capital raise is essential for higher retail growth given current leverage stands high at c.9x. Moreover, resolution of these corporate NPA / stressed accounts is also essential alongwith a reasonable estimate of their LGDs. We forecast slower AUM CAGR of 7 per cent over FY19-22E as the management focusses on raising Tier-1 capital, maintaining adequate liquidity, resolution of corporate accounts and further reducing gearing levels. In light of the above, we downgrade the stock to HOLD valuing the company at 0.75x FY22E BV with a TP of Rs 500.