F&O Expiry: Sensex climbs 396 pts, Nifty ends at 11,573; Vedanta jumps 7%

All that happened in markets today.

3:45 PM

MARKET COMMENT :: Rahul Mishra, AVP (Derivatives), Emkay Global

NIFTY started September month around 10,800 and was struggling to cross the 11,000 resistance, as the initial stimulus from the FM did not help improve investor’s sentiment. The index is currently trading above the 50-and 200-DMA.

We believe 11,300 will be the support level for the NIfty, and it will face resistance at 11,600. From derivative point of view, FIIs have doubled their position in Index futures during the month so far. The monthly options data suggests a range of 11,000-11500 for October. However, 12000 Call holds decent open interest, making it the next resistance level that the index will face.

3:41 PM

Top contributors to Sensex's gain today

3:40 PM

REALTY STOCKS: Godrej Properties rallies over 8%

3:39 PM

M&M, TVS Motor top gainers in auto sector; MRF sole loser

3:38 PM

Auto, realty stocks gain

3:37 PM

Sensex heat map

3:34 PM

CLOSING BELL

The S&P BSE Sensex surged 396 points or 1.03 per cent to settle at 38,989.74 while NSE's Nifty50 index ended at 11,573.30, up 133 points or 1.22 per cent. 

 

3:20 PM

NEWS ALERT | PMC Bank MD Joy Thomas suspended: CNBC-TV18

2:54 PM

NEWS ALERT | Divestment of state-run companies is the top priority for the next 3-4 years: DIPAM official to CNBC TV18

-- Official says current Govt strongly in favour of privatisation

-- Restricted divestment via OFS last FY due to market volatility

2:50 PM

Market check

2:41 PM

ICICI Securities initiatives coverage on KNR Constructions

KNR Constructions (KNR) is a leading road-focused EPC player with over two decades of experience and a reputation for completing projects on time/ahead of schedule. With a strong orderbook of Rs 6,519 crore and rapid execution of captive hybrid annuity model (HAM) projects and large ticket irrigation projects, it is well on track to achieve 19 per cent CAGR in revenues to Rs 3,031.1 crore in FY19-21E. We also like KNR’s focus on monetising its under construction HAM projects (Cube Highway deal for four HAM projects at 1.8x P/BV). Considering strong execution and better EBITDA margins with best in class WC cycle and healthy balance sheet, we initiate coverage on KNR with a BUY rating on the stock and SoTP target price of Rs 300/share.

2:40 PM

NEWS ALERT | Sadbhav Infra arm gets concession period from Maha govt; stock down over 6%

2:20 PM

5.1% equity of ICICI Lombard gets exchanged; stock up 4%

2:15 PM

Financials rally up to 7% on report govt could notify NBFC resolution rules

Under the process, the government is likely to introduce a special window under section 227 of the Insolvency and Bankruptcy Code (IBC), which would give "special dispensation" on who could initiate the resolution process, on moratorium, and to resolution professional, business channel CNBC TV-18 reported. READ MORE  

2:04 PM

FM to discuss external benchmarking of loan, MSME credit with private banks

When Finance Minister Nirmala Sitharaman meets top management of private banks and financial institutions on Thursday, she might discuss external benchmarking of retail loans as mandated by the Reserve Bank of India (RBI) from October 1, and how banks were spreading awareness among customers about the move. The meeting will begin at 5:30 pm.

 

Concerned over poor transmission of interest rates by banks, the RBI had earlier this month mandated that all banks will have to link retail loans with an external benchmark, such as the repo rate. All lenders are supposed to introduce such products by October 1. READ MORE

1:55 PM

RITES surges 19% in 1 week on Rs 160 crore order win from Sri Lanka

Shares of RITES hit a new high of Rs 280, up 5 per cent on Thursday, surging 19 per cent in one week after the company signed Rs 160 crore contract with Sri Lanka government for supply of two additional fully air-conditioned Diesel Multiple Unit (DMU) train sets. 
 

The stock of state-owned construction & engineering company was trading at its highest level since listing on July, 2018. READ MORE

1:40 PM

NEWS ALERT | Govt favours early resolution of Hindustan Zinc case in SC: CNBC-TV18

- Govt plans to sell residual stake in the company in tranches; 

- Govt currently holds 29.5% stake in Hindustan Zinc

1:27 PM

Around 66 securities hit 52-week low on NSE

Symbol	Security	New 52W/L	Prev. Low	Prev. Low Date	LTP	Prev. Close	Chng	% Chng
ADHUNIK	Adhunik Metaliks Limited	0.95	1.00	25-Sep-2019	1.00	1.00	0.00	0.00
ADLABS	Adlabs Entertainment Limited	2.85	2.95	24-Sep-2019	3.05	3.00	0.05	1.67
ADROITINFO	Adroit Infotech Limited	7.25	7.60	25-Sep-2019	7.25	7.60	-0.35	-4.61
ALOKTEXT	Alok Industries Limited	1.75	1.80	25-Sep-2019	1.75	1.80	-0.05	-2.78
ASSAMCO	Assam Company India Limited	0.55	0.55	20-Sep-2019	0.60	.60	0.00	0.00
BALLARPUR	Ballarpur Industries Limited	0.50	0.50	25-Sep-2019	0.55	.55	0.00	0.00
BARTRONICS	Bartronics India Limited	2.10	2.10	25-Sep-2019	2.10	2.10	0.00	0.00

 
Click to view full list

(Source: NSE)

1:20 PM

NCLAT allows Dutch court administrator to attend Jet Airways CoC meetings

The Appellate Tribunal also set aide the earlier order of the Mumbai bench of the National Company Law Tribunal (NCLT), which had denied to recognise the Dutch insolvency proceedings. NCLT had barred Dutch Court Administrator from taking part in the Jet Airways insolvency proceedings in India. READ MORE  

1:11 PM

Kotak Securities on aluminium firms

With strong supply pipeline in China combined with slowing demand, we see the aluminum market returning to surplus in 2020E. Easing supply constraints in raw materials (alumina, anode and coal) should keep costs depressed and aluminum prices under pressure. We cut our aluminum price forecast by 4-5 per cent to US$1,775/1,800/ton in FY2020/21-22E. We cut fair value of Hindalco to Rs 235 (Rs 242 earlier), NALCO to Rs 37 (from Rs 38) and maintain our ratings.

1:08 PM

NEWS ALERT | Muthoot Finance to raise Rs 1,000 crore through NCDs

12:59 PM

Axis Bank raises Rs 12,500 crore via QIP to enhance capital adequacy

The QIP issuance was done at a price of Rs 629 per equity share at a tight discount of 1.44 per cent over the closing price of the issue opening date, that is September 19. The QIP issuance price of Rs 629 per equity share is at a discount of 4.91 per cent to the floor price of Rs 661.50 per equity share, determined as per the SEBI formula. READ MORE 

12:58 PM

Market check

12:42 PM

NEWS ALERT | SpiceJet launches 46 new domestic flights

12:40 PM

HDFC Bank is the most valued brand in India, LIC takes second spot: Survey

HDFC Bank saw its brand value increases five per cent, growing slow but at a steady clip, to keep the top spot. “HDFC has utilised the digital ecosystem well and secondly they were very prudent about their business decisions. They are with the customers, walking with the times,” said Vishikh Talwar, chief client officer, Kantar Insights Division. READ MORE

12:30 PM

NEWS ALERT | IPCA Labs to issue 5 lakh convertible warrants at Rs 955 each

Click here to read full filing

12:27 PM

NEWS ALERT | LIC will have to dilute its excess shareholding in NSE as per regulations: Sebi chairman

-- Not aware of any deadline w.r.t LIC’s stake sale

-- Says, it has been asked to meet the limits under 5-15%

12:26 PM

NEWS ALERT | Examining the Securities Appellate Tribunal's (SAT) ruling on PwC: Ajay Tyagi, Sebi chairman

-- Says, would take a call on whether to challenge SAT order or not 

Alert: SAT ruling said that SEBI cannot regulate auditors

12:24 PM

Market check

12:23 PM

NEWS ALERT | TCS bags fresh order from a UK co for core digital banking: BSE Filing