Sensex ends at fresh closing peak, gains 154 pts; Burger King zooms 131%

All that happened in the markets today

4:09 PM

Tech View | Nifty forms Doji Candle for 3rd day: Rohit Singre, LKP Securities

The index formed a Doji candle for the third consecutive session, hinting indeciciveness in the markets. Nifty has formed a good base near 13,500-13,440 zone. If it holds above the said levels, we may see the bullish momentum continue towards immediate hurdle zone of 13,600-13,650. Below 13,400 zone, we may see some immediate trend reversal. Support for Nifty Bank is near 30,500-30,200 zone and resistance is near 31,000-31,200 zone.  

4:05 PM

MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services

Market is continuing its bull run with a sustained interest in PSU banks and small and mid-cap stocks. Industrial output data, shows a growth in consumer durables production surpassing the pre-covid level and a strong pickup in electricity and manufacturing sectors. The domestic market is expected to gain its momentum from the global market, due to an eventful week ahead with Britain and EU moving for a no-deal Brexit and the US markets awaiting the outcome of the Fed meeting.

3:52 PM

Stellar Debut: Burger King India shares rally 131% from issue price

After opening at a premium of 92 per cent, shares of Burger King India extended gains to end at Rs 138.40, up 19.98 per cent on BSE from the listing price and a premium of 130.67 per cent from issue price. READ MORE

3:46 PM

Nifty Media top sectoral gainer on NSE

• Nifty Media index top sectoral gainer on NSE, up 2 per cent
• Seven of 10 index constituents ended in the green
• Dish TV biggest sectoral gainer, Hathaway worst loser

3:39 PM

Sectoral Trend: Barring Nifty Auto, Realty all sectors end in the green

3:36 PM

Top Sensex contributors: ICICI Bank, L&T, ONGC

3:35 PM

Sensex Heatmap | Top index gainers & losers

3:33 PM

CLOSING BELL

BSE Sensex ends at fresh record high of 46,253.46, up 154.45 points or 0.34 per cent. NSE Nifty gains 44.30 points or 0.33 per cent to settle at 13,558.15

3:26 PM

MARKET CHECK

3:21 PM

HDFC Bank appoints new Chief Risk Officer

HDFC Bank board approved appointment of Sanmoy Chakrabarti, Head- Risk Management, Chief Risk Officer (CRO) of the Bank, for a period of three years, with effect from December 14, in place of Jimmy Tata, as part of internal re-organization.

3:14 PM

PSU stocks in focus; Hindustan Copper, MMTC rally up to 20%

Hindustan Copper (HCL) soared 20 per cent to Rs 53.20 in intra-day today, on the back of heavy volumes. The trading volumes on the counter jumped over 10-fold with a combined 20.3 million equity shares changing hands on the NSE and BSE till 02:54 pm. READ MORE 

3:05 PM

Sensex contributors at this hour

2:54 PM

BNP Paribas sees Sensex at 50,500 in 2021; remains overweight on India

BNP Paribas has maintained an overweight rating on Indian equities for calendar year 2021 (CY21) and expects the S&P BSE Sensex to hit 50,500 levels going ahead – up nearly 9.5 per cent from the current levels. Besides India, BNP Paribas remains overweight on China, Indonesia and Korea. Among Indian stocks, it has included ONGC and Marico in its model portfolio and has dropped Britannia. After an expected contraction of 11.4 per cent in 2020, it expects India’s gross domestic product (GDP) to grow at 11.6 per cent in 2021 and at 5 per cent in 2022. READ MORE

2:44 PM

Burger King India extends gains, freezes at 20% upper circuit

2:37 PM

BUZZING STOCKS:: Larsen & Toubro extends gain, zooms 5%

2:27 PM

Ramco Systems rallies 8% on winning large multi-million dollar orders

Shares of Ramco Systems rallied 8 per cent to scale its fresh 52-week high of Rs 616 on the BSE in the intra-day trade on Monday after the company said its various business units have signed large multi-million dollar agreements with multiple companies based in Europe, Asia and America. The company, however, did not disclose the value of the orders win. READ MORE

2:19 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
HINDUSTAN COPPER	44.50	53.20	52.50	17.98
IFB INDUSTRIES	1061.05	1197.70	1185.25	11.71
ESAB INDIA	1562.25	1781.45	1731.00	10.80
MMTC	21.55	24.15	23.80	10.44

2:10 PM

Oil marketing companies continue to hold petrol, diesel price rise

OMCs have gone on a pause mode at a time when the news of successful coronavirus and expectations of big pick up in demand had kept crude on the boil with prices breaching $ 50 a barrel mark. Crude, however, has remained static for the past few days reducing any pressure on upward revision in the fuel prices. READ MORE

2:04 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
HINDUSTAN COPPER	50.90	14.77
IFB INDUSTRIES	1162.00	12.66
ESAB INDIA	1730.15	12.39
DISH TV INDIA	14.80	8.35
VAKRANGEE	51.35	7.20

1:56 PM

Expert Take | Is Yes Bank out of the woods?

For any banker worth his salt, being at the helm of Yes Bank Ltd in March 2020 would have been a hair-raising exercise. Not for Prashant Kumar.

 

For two reasons: One, he was psyched for the assignment; and, two, he is bald! On a serious note, rehabilitating Yes Bank is the most challenging job in Indian banking space at the moment. There has been another recent instance of a bank being to hell and back, steered by its new CEO, but the size of that bank is much smaller.READ MORE

1:46 PM

BSE Auto index worst sectoral performer; here are the gainers & losers from the sector

1:39 PM

Fund pick :: DSP Equity Fund is a consistent multi-cap outperformer

The DSP Equity Fund has featured in the top 30 percentile of the multi-cap funds category of CRISIL Mutual Funds Ranking (CMFR) for seven quarters ended September 2020. The fund is managed by Atul Bhole since June 2016. READ MORE

1:29 PM

Mrs Bectors Food IPO opens tomorrow. Here's what top brokerages say

Geojit -- Subscribe

 

At the upper price band of Rs.288, MBFSL is available at a P/E of 22x on FY21E EPS (annualized), which looks attractive, given its higher profitability compared to similar sized peers. Considering its future growth prospects in packaged biscuits and QSR segment, we recommend a “Subscribe” rating with a long-term perspective. READ MORE

1:21 PM

BSE Sensex wipes off gains, moves into the green

Following gains in Axis Bank, L&T and ICICI Bank, the BSE barometer Sensex erased losses to trade marginally higher. However, losses in HDFC twins and Infosys kept gains in check. 

1:20 PM

Expert Take | Shyam Sekhar on Burger King listing

1:10 PM

S&P BSE MidCap index outperforms benchmarks

1:01 PM

BSE Capital Goods index hits fresh 52-week high; L&T, BEL gain up to 3%

The S&P BSE Capital Goods index hit a fresh 52-week high of 17,963, up 1 per cent, on the BSE on Monday on expectation of sustained growth momentum. Earlier on December 8, the capital goods index had surpassed its previous 52-week high of 17,796 touched on January 24, 2020. In the past two months, the index has rallied 30 per cent as compared to a 13-per cent gain in the S&P BSE Sensex. READ MORE

12:52 PM

BROKERAGE VIEW :: HDFC Securities on Cipla

CMP: Rs 756 | TP: Rs 940 | Reco: Buy

We maintain BUY rating and increase our TP to Rs940/sh based on 23x Sep 22 EPS, Rs29/sh for gAdvair and Rs40/sh for gRevlimid. We believe Cipla is in sweet spot with key businesses witnessing strong growth momentum. While Covid sales could normalise in India, recovery in ex-Covid prescription business, structural savings in costs and ramp up in gAlbuterol share in the US is likely to drive an earnings growth of ~28% CAGR over FY20-23e. Key risks: lower-than-expected growth in India, slower ramp-up in Albuterol, delay in resolution of Goa warning letter, higher price erosion in the US.

12:42 PM

Expert View: Hemang Jani of Motilal Oswal on Burger King India

At the CMP of Rs 125, Burger King India is valued at 5.7x FY20 Price/sales and 17.3x FY20 P/BV which fully captures its strong brand positioning, robust store expansion plans and the bright growth prospects of the QSR industry in India. However, given its weak financials, the valuation seems a little stretched vs players like Jubiliant Food and Westlife Dev.

12:33 PM

Q&A | FOMO on market rally overshadowing economic environment: Prakash Kacholia

The inflow of over Rs 60,000 crore of funds into the Indian markets from foreign portfolio investors (FPIs) in November would defy all moods. A reversal in FPI inflows can halt the rally. The trailing price-to-earnings (P/E) ratio of Nifty is 37.20, compared to the historical average of around 21. Global market capitalisation has crossed $100 trillion for the first time, and in a year when everything looked gloomy. Fear of missing out (FOMO) on the market rally is overshadowing the economic environment. READ FULL INTERVIEW HERE

Prakash Kacholia, managing director at Emkay Global Financial Services