MARKET WRAP: Benchmarks flat, mid-caps rally; RIL up 3% ahead of Q3 nos

All that happened in the markets today

3:55 PM

MARKET COMMENT :: Vinod Nair, Head of Research, Geojit Financial Services

As anticipated Mid & Small caps are outpacing the broader market due to fall in economic risk and revival in business growth, this catch-up, which will be the theme of the year. Main indices are impacted by SC verdict on AGR, having an effect on Telecom & Banking sectors which are already facing NPA problem. The pre-budget rally has been very solid on a MoM basis, market may consolidate in the short-term and take cues from the actual budget and on-going results.

3:41 PM

SECTOR WATCH | Losers and gainers on the NSE

3:40 PM

Top gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex ended at 41,945, up 13 points or 0.03 per cent while NSE's Nifty slipped 3 points or 0.03 per cent to settle at 12,352. 

3:20 PM

BROKERAGE RADAR | ICICI Securities on KEC International

The overall performance has been satisfactory across H1FY20 barring order inflows, which was a result of a weak domestic market. It is quite evident that previous order inflows guidance will be pruned down but the same would comfortably ensure 13.7% revenue CAGR in FY19-21E. This will be one of the best performances in our midcap capital goods universe. Also, gains in railways business margins are not factored by us. We continue to value the stock at 11.5x FY21E EPS and maintain our BUY rating (target price of Rs 335) as risk reward is favourable at this juncture.

3:11 PM

BUZZING STOCK | Godfrey Phillips surges 4%

3:09 PM

MARKET CHECK

2:58 PM

BROKERAGE RADAR | HDFC Securities on Galaxy Surfactants

We reiterate our BUY rating on the stock with a TP of Rs 1,872 (22x Dec-21E) given diversified portfolio that continues to attract and retain customers, presence in widespread geographies that diversifies business risk, stability of margins (standard deviation of EBITDA margins over FY10-19 at 2.0), and ability to generate nearly 20% RoCE.

2:46 PM

MF industry seeks LTCG easing in commodity, gold ETFs, scrapping of STT

Except for a few proposals like the one on gold and commodity ETFs, most of the changes sought by the industry have been represented in the past.

 

"We are hoping this time our long-pending submissions get addressed, which would help to take the Indian MF industry, not only to the next level of growth, but also help in contributing to making economy stronger," said N S Venkatesh, chief executive of Amfi. READ MORE

2:38 PM

Piramal Enterprises surges 7%, hits 52-week high on divestment of DRG biz

Shares of Piramal Enterprises (PEL) rallied 7 per cent to hit 52-week high of Rs 1,656 on the National Stock Exchange (NSE), after the company announced divestment of its Decision Resource Group (DRG) business for $950 million. “PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of PEL and the holding company for Decision Resources Group (DRG) engaged in healthcare insights & analytics business, has signed a definitive agreement for the sale of DRG to Clarivate Analytics plc, a global leader in providing trusted insights and analytics, for a sale consideration of US $950 million,” the company said in a press release. READ MORE

2:30 PM

Asian Markets check

Asian shares rose on Friday after data in China showed pressure on the world’s second biggest economy may be starting to diminish. The news along with easing trade tensions with the United States underpinned riskier assets, even as some markets took a breather in late afternoon trade.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.18 per cent in afternoon trade, trimming earlier gains of as much as 0.4 per cent. China’s blue-chip index ended 0.14 per cent higher, down from an earlier rise of as much as 0.67 oer cent.

 

Australian shares added 0.32 per cent to a fifth consecutive record high close, and Seoul’s KOSPI rose 0.11 per cent. Japan’s Nikkei finished up 0.45 per cent after reaching 15-month highs earlier in the session.

 

MSCI’s global share index touched record highs and was last up 0.05 per cent. In early European trades, pan-region Euro Stoxx 50 futures were up 0.4 per cent, German DAX futures gained 0.54 per cent and FTSE futures added 0.28 per cent.

(via Reuters)

2:19 PM

Jubilant FoodWorks may still be a tasty bite for investors as stock gains

The stock of Westlife Development (Westlife), which runs the McDonald’s chain in the southern and western parts of the country, has always enjoyed premium valuation over its only listed peer — Jubilant FoodWorks (Jubilant). However, despite a higher base, the latter’s robust growth potential is likely to provide impetus to its valuation. READ MORE

2:08 PM

BSE500 stocks that hit 52-week high today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADANI ENTERP.	226.40	227.95	6.45	2.93
APOLLO HOSPITALS	1611.20	1616.75	18.70	1.17
AU SMALL FINANCE	869.00	888.00	-8.60	-0.98
AVANTI FEEDS	724.40	769.90	-21.50	-2.88
BALKRISHNA INDS	1113.60	1117.35	11.35	1.03

1:58 PM

Rupee check

1:56 PM

Dishman Carbogen falls 9% from day's high despite nod for share buyback

Shares of Dishman Carbogen Amcis were locked in 5 per cent lower circuit at Rs 84.30 on the BSE on Friday despite board approval's for a share buyback at a price not exceeding Rs 150 per share. The stock of pharmaceuticals slipped 9 per cent from its intra-day high level of Rs 92.40 on the BSE. “The board approved the buy-back of equity shares by the Company from open market through stock exchange mechanism for amount not exceeding Rs 72 crore at a price not exceeding Rs 150 per share,” Dishman Carbogen Amcis said in an exchange filing. READ MORE

1:54 PM

Dishman Carbogen falls 9% from day's high despite nod for share buyback

Shares of Dishman Carbogen Amcis were locked in 5 per cent lower circuit at Rs 84.30 on the BSE on Friday despite board approval's for a share buyback at a price not exceeding Rs 150 per share. The stock of pharmaceuticals slipped 9 per cent from its intra-day high level of Rs 92.40 on the BSE. READ MORE

1:41 PM

NEWS ALERT | GAIL & Power Grid are likely to move pleas before SC for clarifications in AGR case: sources to CNBC TV18

>>These PSUs are likely to prefer clarification rather than review petition

 

>> Modification pleas can be mentioned, heard by a Bench in Open Court

 

>> PSUs to seek clarification to make distinction between telcos and PSUs, and make distinction on core competencies

1:34 PM

NEWS ALERT | Jay Shree Tea to sell stakes in 2 tea estates located in Africa: BSE filing

>> Company has entered into a definitive agreement with Grand Lacs Trading SA, Belgium to sale its stake in two of its tea estates at East Africa namely Mata & Gisakura 

>> Deal consideration:  USD 10 million to be received

>> Date of completion: 14th February, 2O2O
 

1:22 PM

Bankrupt Jet Airways plans to sell Netherlands biz to Dutch airline KLM

The domestic full-service carrier, which shuttered operations last April, is undergoing insolvency resolution process.

 

The insolvency resolution professional managing the affairs of Jet Airways said various options are being explored for the "company's resolution and maximising the value for its stakeholders", as per the filing on Friday. READ MORE

1:11 PM

RIL climbs 2.5% ahead of Q3 results; GRM expected to see a slight fall

Shares of Reliance Industries (RIL) climbed over 2.5 per cent in the intra-day session on Friday ahead of its December quarter (Q3FY20) results which is scheduled to be released later in the day. At 12:54 pm, the stock was trading 2.42 per cent higher at Rs 1575 apiece on the BSE. During the day, it hit a high of Rs 1577.45 levels. READ MORE

1:06 PM

Glenmark ticks up 3%

1:01 PM

Broader markets continue to outperform benchmarks

12:56 PM

STOCK ALERT :: Bharti Airtel extends gain, trades over Rs 500/sh mark

>> Stock Rs 25/share away from lifetime high

>> Last record high touched on Oct 10, 2007

12:51 PM

NEWS ALERT | Piramal Ent to sell its healthcare insights & analytics biz for $950 m to Clarivate: BSE Filing

Alert: Revenue from the healthcare insights and analytics business was Rs. 1,330.74 crores for the financial year ended March 31, 2019.

12:42 PM

STOCK ALERT :: Ujjivan Small Finance Bank at its lowest level since listing on December 12, 2019

12:33 PM

Nifty sectoral indices at this hour

12:31 PM

Prestige to Sobha, south Indian developers hold the edge

The implementation of the goods and services tax, the Real Estate Regulation Act, demonetisation as well as liquidity issues, led to market share gains for organised players. Improving balance sheets and track record of executing projects have helped organised developers notch up strong volumes even as smaller players are facing a liquidity crunch and slow sales velocity. READ MORE

12:23 PM

Emami Ltd up 5%

12:15 PM

BUZZING STOCK:: India Glycols zooms 10%

12:05 PM

Bharti Airtel climbs 5% on hopes of market share gain, hits 26-month high

Bharti Airtel's stock price surged 5 per cent to hit 26-month high of Rs 499 on the BSE on Friday amid expectations that the telecom company is poised for strong market share gain. The stock of the country’s largest integrated telecommunications company was trading at its highest level since November 2017. It is 6 per cent away from its all-time high level of Rs 527, touched on October 2007. READ MORE