Sensex ends 91 points lower, Nifty below 10,200 on inflation concerns

All that happened in today's trade

3:45 PM

All but two sectors ended in red 

Source: NSE

3:41 PM

Broader markets 

Broader markets mirrored the gains in the frontile indices with the BSE Midcap and the BSE Smallcap indices losing 0.2% each. 

3:38 PM

Sensex heatmap at close 

Source: BSE

3:35 PM

Markets at close

The S&P BSE Sensex ended at 32,941, down 91 points, while the broader Nifty50 closed at 10,186, down 38 points.

3:17 PM

Buzzing stocks

Vakrangee, Balkrishna Industries, VIP Industries, Graphite India, HEG, Minda Industries, Sterling Tools and Gulf Oil Lubricants were among 15 stocks from the S&P BSE500 and S&P BSE Smallcap index that hit their respective new highs on the BSE in intra-day trade. READ MORE

3:10 PM

European markets

Encouraging earnings from telecoms companies put European shares on the front foot on Tuesday, helping them recover from a seven-week low hit in the previous session.

 

The pan-European STOXX 600 was up 0.2 per cent, also helped by gains in British retailer Tesco after the UK regulator approved its $4.9 billion takeover of wholesaler Booker.

3:06 PM

Centrum Broking on SBI 

 

We retain Buy on State Bank of India (SBIN) with SOTP-based TP revised upwards to Rs370. Q2FY18 results were on lower side to our estimates on revenue / profitability front. We however draw comfort in a) lower than expected slippages (2.4% in Q2’18 vs 6.7% in Q1’18) and b) ~430bps QoQ rise in PCR to 65.1%. Merged entity is on a strong footing with healthy CAR (13.9%); watchlist portfolio at 1.2% of loans (vs 1.4% QoQ) and well contained asset quality. Valuations remain attractive. Continue to prefer SBIN in the PSU space.

3:00 PM

Kalpataru Power advances after good Q2 result

 

Kalpataru Power Transmission rose 3.65% to Rs 392 on BSE after net profit rose 23.66% to Rs 71.49 crore on 9.45% rise in total income to Rs 1237.52 crore in Q2 September 2017 over Q2 September 2016.

 

2:41 PM

Markets turn flat

At 2:40 pm, the S&P BSE Sensex was trading at 33,044, up 11 points, while the broader Nifty50 was ruling at 10,218, down 6 points.

2:25 PM

Experts see RBI keeping rates unchanged in December

 

Stronger food and fuel inflation pushed up headline CPI inflation to a seven-month high in October and accordingly, the Reserve Bank is expected to stay on hold in its upcoming policy review meet next month, a majority of experts believe. READ FULL REPORT

2:09 PM

Sectoral trend in noon deals

Source: NSE

1:54 PM

JM Financial on SpiceJet

 

Spicejet reported EBITDAR of Rs 500 crore, broadly in-line with JMfe of Rs 520 crore. EBITDAR increased 21% YoY, driven by high pax growth. The company reported a PAT of Rs 100 crore in 2QFY18. The medium term fleet addition for SpiceJet remains limited. However, aggressive utilisation levels – PLF @90%+ backed by tactical pricing & ancillary revenue focus, continues to augur well for revenue maximisation. Industry high load factors, cost rationalisation by the new management, coupled with lower ATF prices have helped turn around the loss-making airline – delivering profits for almost three years in a row. SpiceJet’s strong regional presence places it favourably to avail benefits of the UDAN scheme. In accordance of the Division bench order relating to a dispute with the erstwhile promoters, the company has provided a bank guarantee of Rs 330 crore and deposited Rs 250 crore with the registrar. This impending arbitration remains an overhang on the name. Maintain BUY.

1:39 PM

Buzzing stocks

Three stocks from the Anil Ambani controlled Reliance Group companies – Reliance Communications (RCom), Reliance Home Finance and Reliance Nippon Life Asset Management  – have hit their respective new lows and Reliance Naval and Engineering hit 52-week low on the BSE in intra-day trade. READ FULL REPORT 

1:16 PM

Bharti sells stake in Bharti Infratel

 

Bharti Airtel on Tuesday said it had offloaded 83 million shares in subsidiary Bharti Infratel for Rs 3,325 crore through secondary share sale in the stock market. READ MORE

 

1:03 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,954.87	-78.69	-0.24
S&P BSE SENSEX 50	10,616.56	-38.84	-0.36
S&P BSE SENSEX Next 50	35,198.66	-82.81	-0.23
S&P BSE 100	10,643.31	-36.68	-0.34
S&P BSE Bharat 22 Index	3,720.94	-30.87	-0.82

12:47 PM

Vakrangee extends rally on 1:1 bonus issue; stock hits new high

 

Vakrangee hit a new high of Rs 659, up 7% on the BSE in intra-day trade, extending its past six-session long rally, after the board of directors of the company on Monday recommended a bonus issue in the ratio of 1:1 i.e. 1 share for every 1 share held.

 

In past seven trading sessions, the stock rallied 25% from Rs 527 on November 3, after the company said its board will meet to consider and approve issue of bonus shares. On comparison, the S&P BSE Sensex was down 2% during the same period. READ MORE

 

12:32 PM

WPI Data

Oct WPI stood at 3.59% vs 2.60% in Sept and 1.27% in Oct 2016

12:19 PM

Govt seeks hefty dividends from state firms as its revenues falter

 

 India is demanding millions of dollars in dividends from 12 reluctant state companies to make up for an expected tax revenue shortfall this fiscal year, as a slump in economic growth risks New Delhi overshooting its fiscal deficit target.

 

The demand has been made following a finance ministry assessment on Oct. 25 of the financial health of 14 state companies, including top miner NMDC Ltd and trading firm MMTC Ltd, according to a government document reviewed by Reuters.

 

The ministry asked 12 of the companies to payout between 30 percent and as much as 100 percent of their 2016/17 or 2017/18 net profit in dividends, share buybacks or bonus shares. The other two companies were exempted. READ MORE

12:05 PM

Strong order book, margin gains ahead for Motherson

 

Motherson Sumi’s September quarter (Q2) results were marginally lower than estimates due to slowing revenue growth and margin pressure at its overseas subsidiaries, SMR and SMP, respectively. 

 

Consolidated operating profit, which came in at Rs 1,250 crore (up 26 per cent year-on-year or y-o-y), was about five per cent lower than consensus estimates. Adjusted for the PKC group acquisition, operating profit growth was limited to 11 per cent. READ MORE

11:46 AM

INTERVIEW OF THE DAY

Higher crude to intensify FII selling, delay earnings recovery: B Gopkumar

 

The recent selling by foreign institutional investors (FIIs) has been on account of rising crude prices, which could continue in the medium-term, tells B Gopkumar, Executive Director & CEO, at Reliance Securities in an interview. With the Bharat-22 ETF getting launched on Wednesday, Gopkumar advises retail investors to take a slice of it as the companies under the ETF hold a proven track record. READ FULL INTERVIEW HERE

11:30 AM

We don't believe IPOs were overpriced: Anuradha Thakur

 

Responding to queries on weak post-listing performance of insurance companies, Anuradha Thakur, joint secretary, Department of Investment & Public Asset Management (Dipam) said, “We don’t believe the issues were overpriced. These companies have technical resources and high intrinsic value. This is not getting captured in regular valuation pattern.”

 

Dipam will take into consideration what happened with New India and GIC Re when it comes to pricing future initial public offerings (IPOs) from the insurance sector, she said on the sidelines of a conference to launch the Bharat-22 ETF. The Centre is looking to launch IPOs of at least three more insurance companies, which include United India, Oriental Insurance Company and National Insurance Company. READ MORE

11:15 AM

Bharti Infratel down 4% after block deals

 

Bharti Infratel dipped 4% to Rs 398 on the NSE in intra-day trade after more than five percentage point equity of the company changed hands through multiple block deals.

 

The stock hit its lowest level since September 29, 2017. It hit a 52-week high of Rs 483 on October 17, in intra-day deal. READ MORE

10:59 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,018.91	-14.65	-0.04
S&P BSE SENSEX 50	10,645.93	-9.47	-0.09
S&P BSE SENSEX Next 50	35,338.95	+57.48	+0.16
S&P BSE 100	10,674.91	-5.08	-0.05
S&P BSE Bharat 22 Index	3,742.43	-9.38	-0.25

10:49 AM

Khadim India makes tepid debut, lists 3% lower against issue price

 

Khadim India made a tepid debut on the bourses by listing at Rs 727, 3% lower against its issue price of Rs 750 per share on the BSE. The stock opened at Rs 730 on the National Stock Exchange (NSE).

 

Footwear retailer had raised Rs 543 crore through initial public offer (IPO), which was subscribed 1.90 times. The reserved portion for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs) was oversubscribed by 2.45 times and 2.33 times, respectively. However, the reserved portion for Non-Institutional Investors or NIIs portion was undersubscribed at 0.18 times, exchange data show. READ MORE

10:38 AM

Bitcoin tumble erases $38 bn as rival cryptocurrency gains

 

Bitcoin slumped as the cancellation of a technology upgrade prompted some users to switch out of the cryptocurrency, spooking speculators who had profited from a more than 500 per cent surge this year.

 

The cryptocurrency has dropped 5.6 per cent since late Friday, and at one point extended its slide from last week’s record to as much as 29 per cent. Bitcoin cash, a rival that split from the original bitcoin in August, has jumped 32 per cent since Friday, according to data compiled by Coinmarketcap.com. READ MORE

10:21 AM

Repco Home Finance surges 14% post Q2 earnings

 

Repco Home Finance surged 14% to Rs 671 on the BSE in early morning trade after the company reported 22% growth in net profit at Rs 56 crore in September 2017 quarter (Q2FY18). It had reported profit of Rs 46 crore in a year ago quarter.

 

Net interest income (interest earned minus interest expended) during the quarter under review grew 21% at Rs 109 crore against Rs 90 crore in the corresponding quarter of previous fiscal. READ MORE

10:12 AM

Inflows in equity MFs surge to Rs 2.86 lakh cr post demonetisation

 

Equity mutual funds registered a staggering inflow of Rs 2.86 lakh crore in the past 11 months bolstered by the ban on high value currency notes, latest industry data showed.

 

The sudden spike in bank deposits and consequent decline in interest rates following demonetisation on November 8, 2016 led to surge in inflow into equity mutual funds, an analyst said.

 

According to the Association of Mutual Funds in India (Amfi) data, equity funds received an inflow of Rs 2.86 lakh crore from November 2016 to October 2017. Prior to that, such funds had registered flows of Rs 1.5 lakh crore between October 2016 and December 2015. READ MORE

9:43 AM

Seven Islands Shipping gets Sebi's nod for Rs 450-cr IPO

 

Seven Islands Shipping has received Sebi's go-ahead to raise an estimated Rs 450 crore through an initial public offering, latest update with markets regulator showed.

 

The company had filed draft papers with the Securities and Exchange Board of India (Sebi) in late September and obtained its "observations" on November 10, which is very necessary for any firm to launch public offer.

 

Going by the preliminary papers, Seven Islands Shipping's IPO comprises fresh issue of shares worth Rs 200 crore, besides a sale of scrips to the tune of Rs 250 crore by private investor Wayzata Investment Partners and promoters.

9:32 AM

Include Bharat-22 ETF in your satellite portfolio

 

The new fund offer (NFO) of Bharat-22 Exchange Traded Fund (ETF) will open for subscription by retail investors on November 15(the first day, November 14, is reserved for anchor investors). The latest offering from the government is more diversified than the Central Public Sector Enterprise (CPSE) ETF, which was heavy on the energy sector. The new ETF has 22 companies spread across six sectors compared to just 10 stocks spread across five sectors in the CPSE ETF. READ MORE

9:22 AM

Sectoral Trend

Source: NSE