Sensex ends 139 pts higher ahead of Fed policy outcome; Realty stocks gain

All that happened in the markets today

3:42 PM

Nifty Realty index ends 0.79% higher

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
OBEROI REALTY	502.50	482.60	19.90	4.12	1140716
INDBULL.REALEST.	204.30	199.45	4.85	2.43	9093427
GODREJ PROPERT.	739.70	732.30	7.40	1.01	142705
DLF	216.05	215.40	0.65	0.30	3574369
BRIGADE ENTERPR.	255.90	255.25	0.65	0.25	98916

3:38 PM

Sectoral Trend

3:35 PM

BSE Sensex: Airtel, NTPC top gainers of the day, Tata Steel top loser

3:32 PM

Market at close

 

The S&P BSE Sensex ended at 33,136, up 139 points while the broader Nifty50 index settled at 10,155, up 31 points.

3:14 PM

Ashok Leyland moves north after large order for buses

Ashok Leyland was up 1.47% to Rs 148 on BSE after the company said it has bagged an order from The Institute of Road Transport, Tamil Nadu for supply of 2,100 buses. The announcement was made during market hours today. READ MORE

 

3:01 PM

Volume Toppers

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
REL. COMM.	25.45	2.30	9.94	11247694
JP ASSOCIATES	19.50	-0.50	-2.50	7690967
UNITECH	6.07	0.00	0.00	6342765
IDBI BANK	74.95	1.30	1.77	4271013
SUZLON ENERGY	11.30	0.00	0.00	3357190

2:45 PM

Arvind rises on JV with Adient

Arvind rose 1.02% to Rs 391.50 on BSE after the company announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India. The announcement was made during market hours today. READ MORE

2:32 PM

Kwality recovers on bargain hunting

Kwality was up 1.93% to Rs 87 on BSE, with the stock recovering on bargain hunting after a recent sell-off.

Shares of Kwality had fallen 14.56% in the previous four trading sessions to settle at Rs 85.35 on Tuesday, 20 March 2018, from its close of Rs 99.90 on 14 March 2018. READ MORE

2:15 PM

Sugar stocks gain as Govt scraps export duty

Sugar stocks advanced on BSE after the government on Tuesday, scrapped the 20% export duty on sugar in a bid to lift its domestic price.

KCP Sugar & Industries (up 4.31%), Dwarikesh Sugar Industries (up 1.44%), EID-Parry (India) (up 1.55%), Dhampur Sugar Mills (up 2.45%), Sakthi Sugars (up 2.52%), Rana Sugars (up 2.24%), Balrampur Chini Mills (up 1.45%) and Bajaj Hindusthan Sugar (up 0.79%) gained. Shree Renuka Sugars was flat at Rs 15.50. READ MORE

2:05 PM

Market Check

 

S&P BSE Sensex	33,195.68		0.60%
Nifty 50	10,173.90		0.49%
S&P BSE 200	4,452.09		0.52%
Nifty 500	8,964.80		0.50%
S&P BSE Mid-Cap	16,073.53		0.49%
S&P BSE Small-Cap	17,283.81		0.53%

2:01 PM

IPO Note on ICICI Securities by Centrum Wealth

 

Subscribe for long term

 

Price Band Rs519-520 

 

ICICI Securities Ltd (ISec) is a leading technology-based securities firm in India, led by ICICI Bank, in India that offers a wide range of financial services including brokerage, financial product distribution and investment banking and focuses on both retail and institutional clients. ISec is the largest equity broker since FY14 by brokerage revenue and active customers on NSE. Over FY13-17, the revenue, EBITDA and net profit witnessed a CAGR of 19%, 38% and 45%, respectively. The company has also maintained healthy return ratio with RoE of >30% since FY13 and it stood at 77.5% for FY17.

1:49 PM

Powell's Fed likely to raise rates, may upgrade 2018 outlook

 

The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust US economy.

 

The US central bank projected late last year that it would lift rates three times in 2018, but some investors believe the fiscal stimulus and recent hints of inflation pressures will push policymakers to add an additional increase to the mix.

1:32 PM

Jaypee debt: Supreme Court directs group to deposit Rs 2 billion

 

The Supreme Court on Wednesday directed the Jaypee Associates to deposit Rs 2 billion as a part payment of the amount required to pay the principal amount to 2,800 home buyers seeking refund.

 

A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud said that Rs 1 billion would be deposited by April 15 and the remaining Rs 1 billion by May 10. READ MORE

1:20 PM

Sebi bars Remac Realty, 5 directors for illegal fund raising schemes

 

Sebi has barred Remac Realty and its five directors from the securities market for at least four years for illegal fund raising activities.

 

The four-year ban would be effective from the date of completing the refund to investors.

 

Besides, the watchdog has restrained the five individuals from serving as a director or key managerial personnel at any listed company for four years. READ MORE

1:01 PM

5 factors that may have a bearing on markets in the coming months

 

The Indian equity markets have continued to limp downwards in the aftermath of the PNB scam, and the trends witnessed in the recently concluded by-poll elections are making the markets jittery and sentiments sour. The global markets have somehow shrugged off fears emanating from rising bond yields (which still remain pretty elevated), a rising interest rate cycle (with the FED expected to raise rates by 25bps later this week), cyclical inflationary pressures playing detrimentally on discretionary spending patterns and the narrowing of spreads between the 10yr government paper and riskier asset classes like equities. 

 

For now, liquidity still appears fine and there is no undue cause of concern and visible trends being seen as a shift from equity linked assets to other asset classes. 

 

Click here for 5 factors that can have a bearing on the equity markets in the coming few months:

12:47 PM

Top BSE500 gainers

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
T.V. TODAY NETW.	528.00	470.10	57.90	12.32	221608
ASHOKA BUILDCON	248.00	229.50	18.50	8.06	152890
FORCE MOTORS	2954.45	2796.20	158.25	5.66	134164
OBEROI REALTY	510.20	483.50	26.70	5.52	60218
TIME TECHNOPLAST	169.05	160.90	8.15	5.07	20535
RADICO KHAITAN	336.80	320.70	16.10	5.02	153055

12:33 PM

Nirav Modi scam: Diamond traders now courting firms with long-term credit

 

In the aftermath of the Rs 129-billion fraud at Punjab National Bank (PNB) involving Nirav Modi and Gitanjali Gems, traders of loose diamonds are now shifting to organised sectoral players with deeper pockets for credit offers to consumers.

 

Since most banks have tightened their lending to diamond merchants and others are in the process of doing so, many medium and small diamond dealers are approaching large players for credit facility within the industry. Early last week, State Bank of India, the country’s largest-public sector bank, announced its decision to tighten collateral demands on borrowers from the gems & jewellery industry. READ MORE

12:19 PM

GSPL stock: Gujarat Gas stake buy if funded via debt to impact bottom line

 

Gujarat State Petronet’s (GSPL) decision to acquire a 28.4 per cent stake in Gujarat Gas and thereby, becoming a majority shareholder in the company did not go down well with the Street. Reacting to the news, the stock shed 6.25 per cent on Tuesday.

 

GSPL, which has a 25.8 per cent stake in Gujarat Gas, will acquire another 28.4 per cent stake from its parent Gujarat State Petroleum Corporation (GSPC). The transaction is likely to be smooth as no regulatory approval will be required. READ MORE

12:00 PM

Market Check

S&P BSE Sensex	33,272.96		0.84%
Nifty 50	10,207.45		0.82%
S&P BSE 200	4,465.88		0.83%
Nifty 500	8,999.35		0.88%
S&P BSE Mid-Cap	16,135.45		0.87%
S&P BSE Small-Cap	17,373.40		1.06%

11:47 AM

Report on Shree Cement by Reliance Securities

 

Reco: Buy 

Target price: Rs​ 22000

​​

Shree Cement (SCL) gained ~2.5% in yesterday’s trade on the expectation of healthy traction ahead due to better utilization and favourable market mix.

 

While Northern realization continues to remain dismal so far in 4QFY18, Eastern realization has been resilient and firm. We believe firm realizations in Eastern region and resumption of petcoke usage are likely to provide support to margins in current quarter. Further, we expect Northern realization to recover in 1QFY19.

11:30 AM

From Cholamandalam to Indostar, CVs to drive auto financiers' growth

Non-banking financial companies (NBFCs), focused on automobile financing, are expected to witness good credit growth, on the back of robust automobile sales, especially commercial vehicles (CV), and expectations that the recent trends will continue. READ MORE

11:20 AM

MCX plans spot commodity trading in industrial & precious metals and energy

India's largest commodity derivatives exchange for metals and energy is now expanding in spot commodity trading and it plans to replicate its strength in metals, including precious metals, and energy contracts in the spot market as well. The move will be a major development following market regulator Sebi's nod to equity and commodity exchanges to enter each other's domains. READ MORE

11:08 AM

Nifty futures trade slumps 50% on Singapore Stock Exchange in March

The trading volume of Nifty futures slumped 50 per cent on the Singapore Stock Exchange (SGX) in March since the National Stock Exchange (NSE) and the BSE ended data-sharing agreements.
 

Nifty futures on the SGX saw an average daily trading of 53,332 lots during March, down from 108,871 in February. READ MORE

10:55 AM

IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19

IDBI Bank’s sale of a 30 per cent stake in National Securities Depository (NSDL) has been delayed and any gains will accrue only in the next financial year (FY19).

While it finalised the sale of a 7 per cent stake in December 2017, the Mumbai-based public sector lender was still working on completing process work for the deal, banking sources said. As for the balance 23 per cent, it was difficult to get investors or institutional investors, pushing sale to the first quarter of the next financial year. READ MORE

10:41 AM

Ashoka Buildcon jumps after emerging as lowest bidder (L1) for projects

Ashoka Buildcon advanced 11.33% to Rs 255.50 on BSE after the company emerged as lowest bidder for road construction projects in Maharashtra. The announcement was made after market hours on Tuesday. READ MORE

10:25 AM

IDFC advances after large bulk deal on Tuesday

IDFC was up 1% to Rs 50.40 on BSE after witnessing a large bulk deal between two fund houses on Tuesday. Copthall Mauritius Investment sold 96.74 lakh shares of IDFC to Baobab Global Fund at Rs 50 per share in a bulk deal on the BSE on Tuesday. READ MORE

10:10 AM

US move may lead to global trade war, says WTO chief Roberto Azevedo

World Trade Organization (WTO) Director-General Roberto Azevedo has warned of a potential global trade war as other nations could retaliate against recent decisions by the US to unilaterally raise tariffs and repeatedly target the multilateral rules-based trade regime. READ MORE

10:00 AM

Market Check

 

S&P BSE Sensex	33,216.21		0.67%
Nifty 50	10,191.60		0.66%
S&P BSE 200	4,462.09		0.74%
Nifty 500	8,986.10		0.74%
S&P BSE Mid-Cap	16,148.34		0.95%
S&P BSE Small-Cap	17,385.32		1.12%

9:46 AM

Canara Bank asset sale: New non-performing assets rules offset gains

Several banks are looking at selling their non-core assets to clean their balance sheets. Canara Bank, too, is selling its entire (30.4 per cent) stake in the housing finance company, Can Fin Homes (CFH), for which the bank has received commercial bids. The company’s executive director P V Bharathi has confirmed the development and expects the process to be completed by March 31. READ MORE

9:31 AM

Nifty PSU Bank index gained over 1.5%

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
IDBI BANK	76.50	73.70	2.80	3.80	414070
CANARA BANK	261.30	254.20	7.10	2.79	57753
BANK OF INDIA	103.35	100.70	2.65	2.63	189701
UNION BANK (I)	98.30	96.45	1.85	1.92	45232
ANDHRA BANK	43.35	42.55	0.80	1.88	28110
ALLAHABAD BANK	50.25	49.35	0.90	1.82	20071