Sensex settles 86 points higher at 43,443 levels, gains 11% in Samvat 2076

All that happened in the markets today.

3:43 PM

SECTOR WATCH | Nifty Metal gains 1.7%

3:42 PM

MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 86 points, or 0.2 per cent higher at 43,443 levels while NSE's Nifty ended at 12,720 levels, up 29 points, or 0.23 per cent.

3:26 PM

MARKET CHECK

3:15 PM

Top gainers on the BSE at this hour

3:03 PM

Info Edge gains 9% in three days, hits record high post Q2 results

While announcing the September quarter results, the management said it is seeing gradual recovery of billings across all businesses. The quarter-on-quarter (QoQ) billings have grown by 32.3 per cent, it said.

 

However, in Q2FY21, the company’s billings dipped 17 per cent year-on-year (YoY) at Rs 249.5 crore. Operating EBITDA (earnings before interest, taxes, depreciation, and amortization) was down by 48.1 per cent at Rs 51.6 crore over the corresponding quarter in FY2019-20. READ MORE

2:56 PM

Sensex Heatmap at this hour

2:48 PM

Inox Leisure raises Rs 250 crore via QIP

Leading multiplex chain Inox Leisure on Friday raised Rs 250 crore from a qualified institutional placement (QIP) of shares.

 

The QIP issue, involving selling over 98 lakh shares at Rs 255 a share, which carry a face value of Rs 10, was oversubscribed 3.5 times by marquee global and domestic institutional investors, the company said in a statement. READ MORE
 

2:42 PM

RBI policymakers spar over high inflation forecasts, steep yield curve

A debate is raging among India’s monetary panel members on the credibility of the central bank’s inflation forecasts, raising questions over its price-growth targeting regime. The argument between Michael Patra, the deputy governor for monetary policy, and J.R. Varma, a new member of the rate-setting panel, centers around whether the nation’s steep yield curve reveals a lack of market confidence in the Reserve Bank of India’s inflation estimates or is a reflection of excessive focus on old data. READ MORE

2:33 PM

NEWS ALERT :: Moody's affirms Macrotech Developers’ (Lodha) USD bond rating

>> Outlook upgraded to stable from negative

2:30 PM

MARKET CHECK :: S&P BSE SmallCap index up 1%

2:23 PM

Business optimism for Oct-Dec rises 57% over Q3 2020: D&B survey

Business optimism has witnessed an increase in the ongoing quarter supported by various measures taken by the government and the RBI to boost consumption demand during the festive season, says a survey.

 

The fall in active cases of COVID-19 infected persons and the improvement in recovery rate also supported the business sentiment. READ MORE

2:14 PM

Stocks that hit 52-week high in an otherwise range-bound market today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI ENTERP.	368.45	371.50	0.81
ADANI GREEN	988.15	988.15	5.00
AMARA RAJA BATT.	821.35	846.00	-1.57
BALKRISHNA INDS	1587.20	1596.95	0.90
BLUE DART EXPRES	4080.00	4218.00	0.76

2:05 PM

BROKERAGE VIEW | ICICI Securities on Time Technoplast

RATING: HOLD | TARGET PRICE: Rs 43 

We believe improved demand in H2FY21 along with focus on increasing contribution of value added products would help better profitability, going forward. Further, marginal debt reduction via positive CFO would keep overall D/E below 0.5x. We maintain HOLD rating on the stock with a revised target price of Rs 43 (valuing at 3x EV/EBITDA FY22E).

2:03 PM

Expert View :: Anuj Gupta- DVP- Commodities and Currencies Research at Angel Broking on Gold

Gold prices increased by 0.86% and closed at 50,600 levels on Thursday, while silver price increased by 0.32% and closed at 62,739 levels as investors feared the economic impact of an accelerating rise in coronavirus infections.

US Federal Reserve Chair Jerome Powell said that progress in developing a coronavirus vaccine was welcome news but that near-term economic risks remain as infections accelerate, underscoring the likely need for additional government stimulus. Weakness in Dollar support the gold and silver.

 

Physical demand also increasing in India on the coming festival season. As for today traders can go for buy in gold at Rs 50,400 levels with the stop loss of Rs 50,200 levels for the target of 50,900 levels. They can also go for buy Silver at Rs 62,300 levels, with the stop loss of Rs 61,700 levels and for the target of 63,500-levels.

1:55 PM

Bharat Forge declines 11% in 3 days after subdued September qtr results

Bharat Forge reported 87.4 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 27.2 crore in Q2FY21 on account of lower operational income. It had posted a profit of Rs 215.8 crore in Q2FY20. Total revenue was down 36 per cent YoY to Rs 1,376 crore from Rs 2,158 crore in the previous year quarter owing to lower-than-expected overseas auto revenues. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin contracted 500 basis points to 18.8 per cent. READ MORE

1:47 PM

BROKERAGE VIEW | LKP Securities on Sun TV Network

RATING: BUY | TARGET PRICE: Rs 532 

Margins will be slightly impacted with the higher content costs related with TV content, movies and Sun Nxt. But higher subscription numbers will take care of these and we expect them to be in 65-66% range in the coming quarters. On the balance sheet side as well the company is managing it NWC well with a good control on receivables. Since the company has a healthy cash balance, we expect it to maintain a healthy dividend payout. We maintain our BUY recommendation with a target price of Rs 532 per share (13x FY22E EPS). 

1:43 PM

'Historic' Samvat :: Four lessons for investors from Samvat 2076

Samvat 2076 has been a rollercoaster ride for markets, which has taught investors some lessons. First, being a contrarian helps. Take profits when the markets rise and start buying on extreme pessimism. Second, it pays to stick to better-known and better governed stocks rather than spreading the portfolio among several stocks that are difficult to monitor. Third, one can take time to buy (by way of SIP or staggered buying), but exit ideally should not be too staggered. Lastly, don’t try to find multi-baggers every now and then. Stocks turn multi-baggers over time and every stock simply cannot be bought with that sole objective. There will be winners and losers in every portfolio. READ MORE

Deepak Jasani - HDFC Securities

1:33 PM

MARKET CHECK

1:28 PM

Ceramic tile-makers in focus; Kajaria, Cera Sanitaryware hit 52-week highs

Cera Sanitaryware rallied 8 per cent to Rs 2,934, while Kajaria Ceramics gained 4 per cent to Rs 600 on the BSE in intra-day trade today. Somany Ceramics, too, surged 8 per cent to Rs 249, trading close to its 52-week high level of Rs 252.85 touched on January 2020. In comparison, the S&P BSE Sensex was down 0.23 per cent at 43,255 points, at 12:49 pm. READ MORE

1:19 PM

NEWS ALERT :: Shoppers Stop's board approves rights issue price at Rs 140/sh

>> Entitlement ratio: 17 for 70

>> Record date: November 20

1:09 PM

Muhurat Trading 2020 :: All you need to know

Markets will remain open on Saturday, November 14 for a special one-hour 'Muhurat Trading' session. 

Date: November 14

Time: Pre-open: 6:00-6:08 pm

Trading hours: 6:15-7:15 pm
 

Block deal timings: 5:45 pm-6:00 pm

Post closing: 7:25 pm- 7:35 pm

1:00 PM

Improving prospects indicate Coal India stock may have bottomed out

Coal India’s (CIL’s) September quarter (Q2) performance was weak, but in line with expectations. While the demand environment remained weak during Q2, soft realisations and e-auction premiums were expected to dampen operating performance.

 

Rising volumes on a low base, however, helped revenues and is now improving prospects for the coal miner. READ MORE

12:51 PM

MARKET UPDATE:: Sensex falls again

12:46 PM

Samvat 2077 :: Here are the sectors that are expected to do well

Metals

 

Metals, analysts say, could be a dark horse powering ahead due to the underperformance to broader markets, favourable product pricing, a strong recovery in economic activities accompanied by substantial exports. Metal prices are surging due to a recovery in Chinese demand and an uptick in construction activities. READ MORE

12:35 PM

Top losers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
IRB INFRA.DEVL.	110.05	-4.51
STERLING & WILS.	216.40	-4.37
REC LTD	114.20	-3.71
SUN TV NETWORK	426.65	-3.70
JTEKT INDIA	74.50	-3.62

12:27 PM

Infosys, PI Industries, ICICI Bank :: Here's what analysts are betting on this Diwali

Anand Rathi

 

Ultratech Cement | Target price: Rs 5,300

 

We are positive on Ultratech due to its strong business model, high operating margins, improving balance sheet, growing retail market share, and potential for further integration and synergy benefits from its mergers & acquisitions.

 

Divi's Laboratories | Target price: Rs 3,730

 

We remain positive on Divi’s given its strong market position, strength in API manufacturing, established long-term contracts with customers, and benefit from the ongoing and new capex programs. READ MORE

12:17 PM

Samvat 2077 :: Key stock market triggers that investors need to watch out

In terms of global cues, how crude oil prices pan out, resolution of Indo-China border issue, and overall shift in international supply-chain, ie, not being overly dependent on China, will be critical in deciding the markets trajectory. That apart, stimulus from the newly elected US president Joe Biden will be eyed by the markets. READ MORE

12:09 PM

BROKERAGE VIEW | Nirmal Bang Securities on Eicher Motors

RATING: ACCUMULATE | TARGET PRICE: Rs 2,398 

Margins are likely to be affected in the medium term due to BS-VI cost impact. We expect volume, revenue and PAT to grow at a CAGR of 10.2%/16.9%/18.6% over FY20-23E. We expect margins to recover in FY22. We revise our rating to ACCUMUATE given the sharp rally in the share price in the last two months. We have maintained our SoTP-based target price (TP) at Rs 2,398.

12:05 PM

BROKERAGE VIEW | JM Financial on NMDC

RATING: HOLD | TARGET PRICE: Rs 95

We see implementation of additional royalty on all of NMDC’s mines as a big overhang, that when implemented can pose c.25% risk to our earnings. Given the huge uncertainty on earnings, we cut valuation multiple from 5x to 3.5x EV/EBITDA FY22E to arrive at our fair value of Rs 95/sh - downgrade the name from BUY to HOLD. Sale of Nagarnar steel plant at higher than our ascribed value (50% of CWIP) poses an upside risk to our fair value.