Sensex ends 169 pts higher, Nifty over 11,900; Infosys, TCS lead gainers

All that happened in the markets today

4:07 PM

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

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
A B B	1565.00	1625.40	0.65	0.04
APOLLO HOSPITALS	1377.00	1411.90	-20.05	-1.44
ASTRAL POLY	1348.95	1349.00	17.25	1.30
BAJAJ FIN.	3520.90	3555.00	9.50	0.27
CHAMBAL FERT.	188.05	196.25	-2.90	-1.52

4:04 PM

Heatmap: S&P BSE Sensex

4:02 PM

Market at close

3:33 PM

Market at close

The S&P BSE Sensex ended at 39,785, up 169 points while the broader Nifty50 index settled at 11,929, up 58 points.

3:23 PM

NEWS ALERT | Hero MotoCorp gets BS-VI certification for 2-wheeler splendor iSmart: CNBC TV18

3:10 PM

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

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
CENTRAL BANK	24.20	24.20	-0.45	-1.83
COFFEE DAY ENTER	233.50	233.50	-3.60	-1.52
HIND.ZINC	239.90	237.60	0.25	0.10
IFCI	8.94	8.75	-0.06	-0.67
JAIN IRRIGATION	37.85	37.05	-5.20	-12.08

2:56 PM

Suzlon Energy tanks 24% after report says deal with Vestas could fall apart

Shares of Suzlon Energy tanked as much as 24.47 per cent to Rs 3.95 intra-day during the afternoon deals on the BSE on Monday after reports suggested that the electrical equipment manufacturer could not crack a deal with Danish firm, Vestas Wind Energy, for stake sale. READ MORE

2:50 PM

NEWS ALERT | AB Fashion to buy Jaypore.com in a cash deal worth Rs 110 cr: CNBC TV18

- Deal to be finalised in 30-45 days

Alert: Jaypore.com is an online portal that focuses on traditional Indian handicrafts

2:46 PM

NEWS ALERT | Monsoon hits Northeast, covers most part of Kerala: Met Dept

2:45 PM

Jain Irrigation tumbles over 11.5%

2:38 PM

NEWS ALERT | Board of SH Kelkar approves share buyback of up to 33 lakh shares at Rs 180/Sh

Alert: Buyback price set at a premium of 23% to CMP

2:32 PM

ICICI Securities on Pokarna

At the CMP, the stock is trading at ~6.5x FY19E EPS. We like Pokarna, given its increasing focus on high-margin quartz business, its owned quarries and technological moat (Bretonstone technology) in India. We believe the new quartz facility in Hyderabad will further help the company increase its share in the US market. We maintain BUY rating with a target price of | 215 per share (9x FY20E EPS). Any imposition of antidumping duty by US on Indian Quartz would remain a key risk for the stock.

2:31 PM

NEWS ALERT | Singapore Co asks Kiri Ind to pay 1.7 mn euros to DyStar: CNBC TV18

2:24 PM

Tata Motors dips

2:13 PM

DHFL rises 9%

2:02 PM

YES Bank falls 13% in three days; hits over 3-year low on BSE

Shares of YES Bank were trading lower for the third straight session in the afternoon trade on Monday. The stock was down 5 per cent at Rs 133 per share, on concerns of eroding balance sheet strength, rising non-performing assets (NPAs), capital raising concerns and weak visibility of profits. YES Bank shares, which hit a three-year low on the BSE, was trading at its lowest level since February 29, 2016. In the past three trading sessions, it has fallen 12 per cent as compared to a 1 per cent decline in the S&P BSE Sensex. On the NSE, however, YES Bank hit a 52-week low of Rs 132 on May 17, 2019. READ MORE

1:58 PM

ICICI Securities on Jammu & Kashmir Bank

RECO: HOLD

 

TARGET PRICE: Rs 53

 

If we factor in fraud leading to NPA addition of nil, Rs 1,000 crore or Rs 2,000 crore from current status, the knock down in adjusted book value (ABV) is material. We have not changed our estimates but factoring in the possibility of asset quality stress warranting provisions, we downgrade our target multiple from 0.9x to 0.7x FY21EABV at current status

1:49 PM

Zee Entertainment is trading over 1% lower

1:47 PM

NEWS ALERT | Zee Ent lenders invoke pledge on 30 lakh shares from May 16-21: CNBC TV18

1:40 PM

Retail inflation could hit 7-month high in May, but below RBI target: Poll

According to a June 4-7 Reuters poll of over 40 economists, the retail inflation rate rose to 3.01 per cent in May from a year earlier, up from 2.92 per cent in April. Forecasts ranged between 2.83-3.50%. READ MORE

1:37 PM

MARKET CHECK | Top 5 gainers at this hour

MANAPPURAM	137.75	+5.95	+4.51
MOTHERSUMI	119.15	+4.80	+4.20
DHFL	87.00	+3.50	+4.19
MUTHOOTFIN	638.40	+22.25	+3.61
HEXAWARE	355.90	+11.95	+3.47

1:24 PM

Eros International to buy back $20 mn worth of common shares on NYSE

The board of media and entertainment firm Eros International Monday announced a share repurchase program worth up to USD 20 million (approx Rs 138.86 crore) on the New York Stock Exchange.

 

The announcement comes after Credit Analysis and Research Limited (CARE), last Wednesday, downgraded the ratings assigned to the bank facilities of Eros International's Indian arm Eros International Media on account of a delay in servicing of bank loans for the month of April 2019 and May 2019. READ MORE

1:16 PM

Suzlon Energy slides over 18% after reports said deal with Vestas likely to be called off

1:13 PM

RBI's new norms to deal with stressed assets credit positive, says Moody's

Moody's Investors Service Monday said the Reserve Bank's new prudential framework for stressed asset resolution is credit positive', but flagged the slower-than-expected progress of resolution under Insolvency and Bankruptcy Code as a key hurdle.

 

The RBI's revised framework for the resolution of stressed assets is credit positive, because it brings back the focus on the need for the timely resolution of such assets, and the buildup of loan loss provisioning against those assets, Moody's Investors Service VP Financial Institutions Group Alka Anbarasu said. READ MORE

1:02 PM

Stock recommendation by Prabhudas Lilladher

12:54 PM

Elara Capital on Hindustan Unilever

Rating: REDUCE

 

Target Price : Rs 1,872

 

Last Close: Rs 1,831

We believe HUVR will continue to deliver strong double-digit value CAGR of 13% over FY19-21E, given its core portfolio (45% of sales) is growing in the double digits, cost savings programs (7% of sales) and precision marketing and enhanced demand-capturing abilities, due to huge data collection online and points of sale (POS). The company should be able to drive its margin profile higher every year, >190bp over FY19-21E, with growth driven by premium brands in the laundry, skin care and hair care categories. We downgrade our rating to Reduce from Accumulate with an unchanged TP of INR 1,872 based on 45x FY21E EPS of INR 41.6, including GSKCH, due to the run-up the stock price by 7.4% in the past three months).    

12:48 PM

NEWS ALERT | Ratnamani Metals & Tubes receives order worth Rs 250 cr

- Order for supply of CS Coated Pipes from Oil & Gas Sector

12:47 PM

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

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
A B B	1570.00	1625.40	5.65	0.36
APOLLO HOSPITALS	1377.85	1411.90	-19.20	-1.37
BAJAJ FIN.	3525.45	3555.00	14.05	0.40
CHAMBAL FERT.	187.45	196.25	-3.50	-1.83
DCB BANK	237.85	242.50	-2.70	-1.12

12:37 PM

NEWS ALERT | May Mutual Fund Data

- ELSS net inflow at Rs 516.4 crore

- ETF inflow (excluding gold, ETF index) at Rs 2,432 crore

12:36 PM

YES Bank slides over 4%