MARKET WRAP: Sensex climbs 482 pts, Nifty tops 11,300; Bharti Airtel up 5%

Here's a look at all that happened today in the stock market

3:41 PM

Top sectoral gainers and losers on NSE

3:41 PM

Top gainers and losers on S&P BSE Sensex

3:38 PM

CLOSING BELL

The S&P BSE Sensex added 482 points or 1.30 per cent to end at 37,536 while NSE's Nifty50 index ended above 11,300 level at 11,301, up 133 points or 1.19 per cent. 

3:05 PM

Stock picks for 2019 by ICICI Securities

2:50 PM

YES Securities on Capacite Infraprojects (CIL)

Given that recent reforms like RERA are paving the way for consolidation in favor of large organized players, CIL stands to benefit in a big way. The value proposition should collectively ensure revenue and operating profit CAGR of 26% and 25% respectively during FY18-21E. Given >15% ROE and solid earnings

growth, valuations seem attractive at 9.4x FY21E P/E. We initiate coverage with a BUY rating for target price of Rs.330 (13x FY21E P/E).

2:48 PM

Matrimony.com zooms 43% in two days on FPI buying

Shares of Matrimony.com moved higher by 20 per cent to Rs 640, surging 43 per cent in past two trading days on the National Stock Exchange (NSE) on buying by foreign portfolio investor (FPIs). On Monday, March 11, Nalanda India Equity Fund bought 2.11 million equity shares, representing 9.3 per cent stake in Matrimony.com for Rs 108 crore. The FPI acquired shares at price of Rs 509.87 per share through open market via bulk deals on the NSE. READ MORE

2:48 PM

MARKET COMMENT :: Jyoti Roy, DVP - Research, Angel Broking

Valuations in the mid & small cap space had been beaten down significantly over the past one year and at the peak of the India Pakistan tensions they were trading at  ~10% discount to large caps which was last seen in 2013 when India was grappling with twin balance sheet problems, runaway inflation and was reeling under a currency crisis. However, macro conditions are much more stable now and structural changes are like GST, Demonitisation and RERA have set a base for very strong growth over next 3-5 years.

 

We believe that prospects of a weak Government at the center have receded significantly over the past few weeks which are being factored in by the markets. Mid & Small cap stocks are now available at very reasonable valuations and we expect them to lead the pre-election rally. In the MF space our preference would be for multi cap & mid cap funds over large cap funds

2:34 PM

Banking stocks surge

COMPANY	LATEST	PREV CLOSE	GAIN(rs)	GAIN(%)	VOLUME
INDUSIND BANK	1576.55	1514.60	61.95	4.09	6122674
ICICI BANK	386.25	375.85	10.40	2.77	28439213
KOTAK MAH. BANK	1268.30	1249.55	18.75	1.50	2546602
AXIS BANK	742.50	734.50	8.00	1.09	6318576
HDFC BANK	2150.00	2128.45	21.55	1.01	2317441
YES BANK	236.70	236.30	0.40	0.17	16792784

2:15 PM

Realty stocks surge

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
UNITECH	1.72	1.72	1.66	0.08	4.88	0.81	4736243
INDBULL.REALEST.	82.35	84.85	77.50	5.45	7.09	16.92	2054350
NBCC	61.50	62.90	59.75	2.60	4.41	10.80	1755848
DLF	185.70	187.30	177.50	9.10	5.15	14.84	798903
NITESH ESTATES	7.31	8.23	7.05	0.45	6.56	0.49	676113

2:00 PM

Market check

1:57 PM

NEWS ALERT | JSW Steel's February crude steel production down by 6% to 12.57 lakh tonnes

1:52 PM

Heatmap: S&P BSE Sensex

1:43 PM

Bharti Airtel surges 15% in two days on stake sale plan in Bharti Infratel

Shares of Bharti Airtel were trading higher for the second straight day, up 6 per cent at Rs 354 on the BSE on Tuesday. The stock of telecom services provider has surged 15 per cent in past two trading sessions, after the company said it will shed its stake in the Bharti Infratel from 50.33 per cent to 18.33 per cent.

Nettle Infrastructure Investments, a wholly-owned subsidiary of Bharti Airtel, will buy a 32 per cent stake or 591.87 million equity shares in the telecom tower company. READ MORE

1:34 PM

Sectoral trends on NSE

1:25 PM

NEWS ALERT | Deep Industries bags order worth Rs 92 crore from ONGC

1:16 PM

RBI inching towards becoming tenth largest holder of gold worldwide

The Reserve Bank of India, which added 6.5 tonnes of gold to its reserves in January, taking its total holding forming part of its foreign exchange reserves to 607 tonnes, is set to become the tenth largest holder of the metal worldwide, displacing the Nerherlands. According to data provided by the World Gold Council on Monday, India’s share of gold held globally has been rising steadily to stand at 6.2 per cent at the end of 2018 and has gone up further in January. READ MORE

1:04 PM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
LEMON TREE HOTEL	83.65	-4.35	-4.94	68153
NAVKAR CORPORAT.	45.70	-2.25	-4.69	177188
HDFC LIFE INSUR.	372.95	-16.85	-4.32	605683
SUZLON ENERGY	7.12	-0.31	-4.17	6502453
SPICEJET	79.80	-3.40	-4.09	677830

12:48 PM

Sensex up over 800 points in two sessions: Here's what's driving the rally

After months of consolidation, the domestic equity market seems to have its mojo back as it has witnessed strong rally in the last two sessions. The S&P BSE Sensex has climbed 847 points or 2.3 per cent in the intra-day trade till Tuesday from March 8 closing level. The Nifty50 index has gained 269 points or 2.44 per cent. The rally is broad-based as buying has emerged across all the sectors. The Nifty Bank index on Tuesday surpassed its all-time closing high of 28,320 hit on August 9, 2018 to hit a high of 28,363.80 in the intra-day trade. READ MORE

12:43 PM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ADITYA BIR. FAS.	229.60	236.45	3.75	1.66
ASTRAL POLY	1243.25	1264.00	28.05	2.31
AXIS BANK	743.25	749.15	9.10	1.24
BAJAJ HOLDINGS	3328.30	3385.20	23.95	0.72
BATA INDIA	1362.15	1374.00	23.00	1.72

12:37 PM

As 737 MAX planes are grounded, Boeing says will upgrade software in weeks

Boeing Co confirmed late on Monday it will deploy a software upgrade to the 737 MAX 8, a few hours after the Federal Aviation Administration said it would mandate "design changes" in the aircraft by April. Boeing did not reference Sunday's Ethiopian Airlines crash in connection to the software upgrade. The statement did express the company's condolences to the relatives of the 157 people who died, however. READ MORE

12:30 PM

NEWS ALERT | Adani Enterprises arm gets letter of award from NHAi for two Hybrid Annuity Road projects

12:24 PM

Profit upgrades for NTPC, Power Grid on new power tariffs regulations

The Central Electricity Regulatory Commission’s (CERC’s) final regulations on power tariffs for FY19-24 comes as a respite for power utilities, with brokerages upgrading net profit estimates for players such as NTPC and Power Grid. The tariffs have a significant bearing on the ability of power companies to earn a stipulated return. READ MORE

12:18 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	7.18	-0.25	-3.36	5411017
SOUTH IND.BANK	15.34	-0.12	-0.78	4599710
REL. COMM.	5.25	-0.13	-2.42	3058292
JP ASSOCIATES	6.77	0.17	2.58	2676851
INDBULL.REALEST.	82.40	5.50	7.15	1770125

12:12 PM

Contribution to Sensex

COMPANY	LATEST	CHG(RS)	CHG(%)	FREE FLOAT MKT CAP (RS CR)	CONTRIBUTION (POINTS)
RELIANCE INDS.	1323.55	22.55	1.73	445318.32	72.64
ICICI BANK	386.20	10.30	2.74	242213.04	62.43
LARSEN & TOUBRO	1389.70	42.05	3.12	189021.38	55.49
HDFC BANK	2150.00	19.95	0.94	458033.29	40.34
AXIS BANK	744.70	10.55	1.44	145343.12	19.65

12:08 PM

Markets at noon

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	37,426.44	+372.34	+1.00
S&P BSE SENSEX 50	11,747.90	+116.08	+1.00
S&P BSE SENSEX Next 50	33,450.08	+171.61	+0.52
S&P BSE 100	11,503.10	+105.92	+0.93

12:00 PM

STOCK ALERT :: Reliance Industries, Axis Bank, Titan, UPL hit record highs

Shares of Reliance Industries (RIL), ICICI Bank, Axis Bank, Titan Company and UPL, from the Nifty 50 index hit their respective record high on the National Stock Exchange (NSE), after a rally in benchmark indices on back of strong foreign portfolio investor (FPI) inflow.
 

Besides these five stocks, Astral Poly Technik, Bajaj Holdings, Bata India, CreditAccess Grameen, Divi’s Laboratories, Gujarat Flurochemicals, Havells India, Info Edge (India), Muthoot Finance, PI Industries and Vinati Organics from the Nifty 500 index also hit their respective new high on Tuesday READ MORE HERE

11:52 AM

Kotak Securities on Real estate sector

India’s commercial real estate business continues to be dominated by the Top-3 cities (out of Top-8), that account for 63 per cent of overall absorption and inventory. Bengaluru continues to lead with 94 per cent yoy growth in absorption and single-digit vacancy of 9 per cent yielding rentals of Rs 68/sq. ft per month (+3 per cent yoy). Constrained supply will likely see vacancy levels further improve and possibly lead to improved rentals (especially in Bengaluru). Prestige and Brigade among our coverage universe have exposure to commercial real estate in Bengaluru, while DLF has a large exposure in Gurugram.

11:49 AM

Intense competition to keep Blue Dart Express profit under pressure

The stock of Blue Dart Express has increased about 8 per cent from its lows a month-and-a-half ago due to strong revenue growth in the December quarter. Sales in the quarter were up 21 per cent year-on-year and 7 per cent sequentially. READ MORE

 

11:48 AM

Reliance Securities bets on HUL

We are initiating coverage on Hindustan Unilever Limited (HUL) with a BUY recommendation and a Target Price of Rs2,000, which implies 17% upside from the current levels. Looking ahead, we expect HUL to witness the fastest earnings growth among the major FMCG companies, notwithstanding the size and scale of operations. HUL is expected to register earnings CAGR of 23% over FY19-21 driven by both organic and inorganic initiatives.

Acquisition of GSK Consumer’s India business provides HUL a strong foothold in the foods segment in terms of diversifying its portfolio and reducing dependence on homecare and personal care segments. At CMP, the stock trades at a premium valuation multiple of 50x FY20E earnings, which we believe to sustain owing to strong growth visibility. We value the stock at 45x FY21E earnings to arrive at our Target Price.

11:40 AM

Reliance Securities on J Kumar Infraprojects

We continue to maintain our positive view on J Kumar Infraprojects (JKIL) owing to robust order book, sound execution credentials, consistent focus on high-margin projects in limited geographies, asset light business model and superior management bandwidth. However, recent positive rally in stock price has subsided the concerns of SEBI allegation. We upgrade EBITDA margin estimate by 50 bps for FY21E and hence earnings by 12 per cent. As the current valuations at 6.4x and 5.2x of FY20E and FY21E earnings, respectively appear to be quite attractive, we maintain our BUY recommendation on the stock with a revised target price of Rs 260 (10x FY20 EPS).