Market snaps 9-day losing streak; Sensex jumps 227 pts, Nifty over 11,200

All that happened in the markets today

3:42 PM

Sectoral trend on NSE

3:41 PM

Gainers and losers of the day on S&P BSE Sensex

3:40 PM

Market at close | NSE Nifty rises 74 points to close at 11,222

3:40 PM

Market at close | BSE Sensex closes 228 points higher at 37,318.53

3:27 PM

SRF surges 12% from day's low; stock hits new high of Rs 2,621

SRF shares hit a new high of Rs 2,621, up 6 per cent, in intra-day trade on the National Stock Exchange (NSE), after the company reported 54 per cent year-on-year (YoY) jumped in consolidated net profit at Rs 191 crore in March quarter, on the back of healthy revenue growth. The consolidated revenue grew 29 per cent at Rs 2,072 crore on YoY basis. The stock of has bounced back 12 per cent from its intra-day low of Rs 2,335 on the NSE. It surpassed its previous high of Rs 2,614 hit on May 2, 2019. READ MORE

3:16 PM

Vedanta rises almost 5%

2:57 PM

Vodafone Idea hits new low, trades near rights issue price of Rs 12.5

Shares of Vodafone Idea hit a new low of Rs 13 apiece, plummeting 10 per cent intra-day on the National Stock Exchange (NSE) on Tuesday, due to heavy volume trade. The stock of the telecom services provider was trading close to its rights issue price of Rs 12.50 per share. READ MORE

2:55 PM

Whatsapp confirms spyware attack, urges users to install latest version

A security flaw in WhatsApp, one of the most popular messaging apps in the world, allowed sophisticated attackers to install spyware on phones, the company said Tuesday, in the latest trouble for its parent Facebook. The vulnerability -- first reported by the Financial Times, and fixed in the latest WhatsApp update -- allowed hackers to insert malicious software on phones by calling the target using the app, which is used by 1.5 billion people around the world. READ MORE

2:49 PM

NEWS ALERT | Indian Bank FY18 gross NPA divergence at Rs 178.5 cr

2:47 PM

NEWS ALERT | Indian Bank's Q4FY19 NII at Rs 1,763.4 cr

2:47 PM

NEWS ALERT | Indian Bank reports a loss of Rs 190 cr in Q4FY19

2:45 PM

Market check

2:44 PM

Market check | Sensex up over 400 points

2:42 PM

Bharti Airtel is trading over 6% higher

2:40 PM

HDFC Securities on Vinati Organics

Last close: Rs 1,743 

Target price: Rs 2,034

Recommendation: Buy

The company reported another strong quarter with sales jump of 39.5%YoY to Rs 2.96bn driven by volume growth 20%+ in ATBS. Sales in IBB that were impacted by the closure of the BASF plant in 3QFY19 resumed taking volumes and is expected to normalise in ensuing quarters.

 

ATBS plant capacity augmentation from 26ktpa to 40ktpa will be completed by the end of 2QFY20 with a capex of Rs 1.1bn. We expect volume growth at ~20% CAGR over FY20-22E based on growth in global demand coupled with a shortage in supply.

2:37 PM

NEWS ALERT | China hints at resolving trade war with US: Reuters

- China and the United States both have the “ability and wisdom” to reach a trade deal that is good for both, a Chinese government’s top diplomat said, as US President Donald Trump said he thought recent talks in Beijing would be successful.

2:31 PM

Indigo receives over 125 slots, Vistara 110 slots; GoAir, Air Asia India get around 40-45 slots: CNBC TV18

2:30 PM

Sector watch | SpiceJet, IndiGo grab most slots of Jet Airways

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
JET AIRWAYS	128.25	133.90	122.10	-11.20	-8.03	23.62	1841664
SPICEJET	121.95	122.40	114.70	3.65	3.09	21.57	1768776
INTERGLOBE AVIAT	1567.00	1578.00	1541.00	11.95	0.77	5.70	36386
JAGSON AIRLINES	0.73	0.73	0.73	0.03	4.29	0.00	10200
GLOBAL VECTRA	65.10	65.10	65.10	-3.40	-4.96	0.01	905
TAAL ENTERPRISES	270.05	294.00	270.05	-11.85	-4.20	0.00	25

2:30 PM

NEWS ALERT | Spicejet emerges as bigest gainer in slot allocation so far with 130 slots: CNBC TV18

2:27 PM

NEWS ALERT | Flight slot allocation committee allocates 480 of 750 slots of Jet Airways: CNBC TV18

2:24 PM

HDFC Securities on Larsen & Toubro

Last close: Rs 1,318

Target price: 1,794

Recommendation: Buy

We recommend a BUY on Larsen & Toubro (LT) with SoTP of Rs 1,794/sh. Reduction in subsidiaries losses, majorly provided transportation project overruns, order pick up in Domestic/International markets and strong cash flow make L&T an anchor play on infra investment and capex recovery. Higher services share in the mix will improve RoEs further. Working capital is at optimal levels. A tight lid on asset capex will only help further re-rating.

2:23 PM

Jubilant Foodworks rises almost 2%

2:06 PM

Stocks that hit 52-week low on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
AMARA RAJA BATT.	630.85	621.80	5.80	0.93
APOLLO TYRES	178.85	178.35	-6.90	-3.71
ASAHI INDIA GLAS	216.90	210.00	-1.60	-0.73
ASTER DM HEALTH.	133.30	132.10	-2.80	-2.06
BHARAT FORGE	454.15	448.85	3.35	0.74

1:56 PM

HDFC Securities on Eicher Motors

Last Close: Rs 20,354

Target Price: Rs 18,900

Recommendation: Sell

Eicher Motors’ 4Q APAT of Rs 5.4bn (-16% YoY, +2% QoQ), missed our estimates. The 30% EBITDA margin trajectory is behind. In our view, the new margin band is 26-29%. We are lowering estimates for FY20-21 by ~7%. Our revised SOTP is Rs18,900 (21x FY21E, earlier 22x). Re-iterate SELL.

1:50 PM

Elara Capital on Parag Milk Foods

Last close: Rs 234

Target price: Rs 366

Recommendation: Buy

Parag Milk Foods (PARAG IN) net sales was up 30% YoY at INR 6.7bn, 13% higher than our estimates, led by 71% YoY growth in SMP, 19.4% of sales. VAD (62.7% of sales) grew by 21% YoY, led by 25% YoY volume growth. Liquid milk, 16.3% of sales, grew by 9% YoY. Gross margin shrank by 240bp YoY and 300bp QoQ, due to unfavorable mix as salience of SMP increased by 460bp to 19.4% and price hikes in response to milk inflation in terms of reduction on discount,  down 400bp YoY, was taken only in March 2019. EBITDA was down 20.7% YoY at INR 437mn, 28% lower than our estimates. EBITDA margin was contracted 413.7bp YoY to 6.5%, due to gross margin contraction and higher other expenses, which were up 194bp YoY. PAT was up 20% YoY at INR 313mn, 5.8% higher than our estimates, due to higher other income, lower interest cost and tax rate (tax reversal from previous year). 

1:46 PM

NEWS ALERT | Edelweiss Q4 result

- Net profit at Rs 232.4 crore , up 3.3 per cent y-o-y

- Revenue at Rs 2,936 crore, up 13.8 per cent y-o-y

1:44 PM

Bharti Airtel jumps on revision in payment plan

1:42 PM

NEWS ALERT | ICRA downgrades PTC issued under 6 loan pools by DHFL

Aleert: PTC = Purchaser payouts/pass through certificates.

1:41 PM

NEWS ALERT | Bharti Airtel scraps Rs 299 plan for postpaid, replaces it with Rs 349/Rs 399 plan

1:40 PM

NEWS ALERT | L&T infotech arm partners with Temenos

- L&T arm, Syncrdis, enters into global strategic partnership for cloud solutions