MARKET WRAP: Sensex recovers 212 pts from day's low, Nifty ends at 11,643

All that happened in markets today

3:43 PM

Sectoral gainers and losers on NSE

3:42 PM

Top gainers and losers on S&P BSE Sensex

3:41 PM

MARKETS AT CLOSE

The S&P BSE Sensex added 160 points or 0.41 per cent higher at 38,767, while the NSE's Nifty50 index gained 47 points or 0.40 per cent to end at 11,643

3:19 PM

NEWS ALERT | CERC approves higher tariff for Adani Power's 2,000 MW Mundra unit

3:01 PM

ITC rises 3% to hit a six-month high on heavy volume

The trading volumes on the counter jumped more than five-times with a combined 20.68 million shares changing hands on the NSE and BSE, till the time of writing this report. READ MORE

2:39 PM

Top 5 gainers on BSE

PCJEWELLER	110.80	+15.05	+15.72
RAIN	122.80	+13.30	+12.15
SPICEJET	110.35	+9.10	+8.99
TV18BRDCST	38.30	+3.05	+8.65
INFIBEAM	47.75	+2.75	+6.11

2:28 PM

Uber unveils IPO with warning it may never make a profit

The S-1 filing underscores the rapid growth of Uber’s business in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract and retain riders. READ MORE

2:24 PM

Vedanta Resources raises $1 billion through bond issue to repay debt

The bonds, sold in two tranches, were issued through Vedanta's subsidiary Vedanta Resources Finance II plc and it attracted interest from global investors across Europe, North America and Asia, the company said. READ MORE

2:18 PM

ITC rises almost 3%

1:59 PM

Market check

1:58 PM

Stocks that can rally at least 10% in this election season

The Nifty500 index tpuched 9,765 levels in April 2019, up nearly 5 per cent from an approximate breakout level of 9200. The index had been consolidating between 8,800 - 9,200 levels since the last two months. If the index holds 9600 for the current month, then one can expect a rally towards all-time high of 10,049. The rally his witnessed several stocks of Nifty 500 moving out from the over-sold territory. READ MORE

1:48 PM

PC Jeweller zooms over 14%

1:42 PM

As many as 12 securities hit 52-week highs in trade

ASTRAZEN	AstraZeneca Pharma India Limited	2,150.00	2,135.00	06-Mar-2019	2,117.80	2054.80	63.00	3.07
BAJAJFINSV	Bajaj Finserv Limited	7,594.95	7,590.00	11-Apr-2019	7,550.00	7562.75	-12.75	-0.17
BALAXI	Balaxi Ventures Limited	61.55	58.65	11-Apr-2019	61.55	58.65	2.90	4.94
BILENERGY	Bil Energy Systems Limited	5.05	4.85	11-Apr-2019	5.05	4.85	0.20	4.12
BSLNIFTY	Aditya Birla Sun Life Nifty ETF - Growth	126.79	125.00	05-Nov-2018	124.58	121.07	3.51	2.90

(Click here to view the full list)

1:37 PM

Maruti Suzuki climbs almost 2%

1:25 PM

Cement stocks gain

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
INDIA CEMENTS	111.05	111.10	108.15	1.60	1.46	3.51	316220
AMBUJA CEM.	230.65	230.65	226.80	4.00	1.76	1.28	55708
ACC	1675.00	1684.95	1663.00	1.25	0.07	7.97	47599
SH. DIGVIJAY CEM	22.30	23.75	22.30	-0.90	-3.88	0.05	22205
UDAIPUR CEMENT	14.42	14.73	14.21	0.07	0.49	0.03	20668
CENTURY TEXTILES	916.15	920.00	902.00	9.40	1.04	1.20	13085
SHIVA CEMENT	15.40	15.50	15.10	0.15	0.98	0.02	12885
ANDHRA CEMENTS	4.72	4.72	4.60	0.22	4.89	0.01	12787
ULTRATECH CEM.	4184.40	4196.50	4137.10	33.10	0.80	4.77	11403

1:12 PM

Stocks that hit 52-week high on BSE500

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
ASTRAZENECA PHAR	2084.40	2149.45	27.35	1.33
ICICI LOMBARD	1099.30	1110.20	10.20	0.94
SIEMENS	1173.75	1179.00	2.70	0.23

12:54 PM

NEWS ALERT | Meghmani Organics pays outstanding ICICI Bank term loan worth Rs 109.4 cr

12:54 PM

DHFL falls 3% after Brickwork's ratings downgrade

Shares of Dewan Housing Finance Limited (DHFL) slumped 3 per cent to Rs 167 on the BSE on Friday in intra-day trade after rating agency Brickwork downgraded ratings on the company's NCDs and subordinated debt instrument. The downgrade is on account of limited progress in building up liquidity, selling/ exiting riskier construction finance loans, DHFL said in a regulatory filing on Thursday after market hours. READ MORE

12:48 PM

YES Securities on Cables & Wires Industry

We delved into one of the fastest-growing segments of the domestic electrical goods sector, the Cables and Wires (C&W) space (~23% volume CAGR over FY14-18). This feat was largely the outcome of a strong demand for cables, boosted by the government’s ‘power to all’ mission and commensurate infra spends. The C&W space is expected to double over FY18-23E amid a strong power distribution capex, as also the growth in the wires segment, led by a plethora of affordable housing projects. Next leg of demand growth would also come from adoption of electric vehicles in India.

 

We recommend BUY on KEI Industries (strong volume growth & improved product mix) and Finolex Cables (established brand & premium positioning).

12:42 PM

Motilal Oswal Financial Services on M&M

We assign 14x P/E to the core business (~10% discount to five-year average core P/E) and Rs 221/share value of subsidiaries (at 40% hold-co discount). Maintain Buy with an SOTP-based target price of Rs 790 (Mar’21).

12:40 PM

Elara Capital on internet companies

We continue to be positive on InfoEdge as we attribute high probability of success to its investee company, Zomato’s, pivot into food delivery. Our channel checks suggest both Zomato and its rival food order and delivery company, Swiggy, are seeing rapid growth in food delivery as they expand into new cities in India. We remain negative on JustDial as we are concerned about the rapid unraveling of its business model. Valuations remain high for JustDial, and we believe the market is not considering how earnings potential for technology firms (or those that compete with technology firms) can deteriorate suddenly if business models do not adapt to changes in the technology landscape, which is our concern regarding JustDial.

12:26 PM

Jain Irrigation Systems gains 3.6%

12:16 PM

NEWS ALERT | RITES FY19 orderbook up 27.5% at Rs 6,142 cr (YoY)

12:14 PM

Corporate houses, mutual funds raise exposure to Mindtree in Q4

While Mindtree was busy fighting the takeover bid from L&T, some corporate houses, domestic mutual funds (MFs), and even some foreign institutional investors increased their stakes in the IT services firm. According to the shareholding pattern disclosures filed by the Bengaluru-headquartered IT firm, corporate houses hiked their exposure by close to 4 per cent at 23.41 per cent by the end of March quarter, against 19.53 per cent reported in the December quarter. READ MORE

12:04 PM

NEWS ALERT | Adani Trans promoter releases pledge on 3.12 cr shares from April 5-10

12:04 PM

Stock of the day | SpiceJet climbs 10%

Shares of SpiceJet surged 10 per cent to Rs 111 on Friday, gaining 18 per cent in the past two trading days after the company said it will induct 16 Boeing 737-800 NG aircraft on dry lease. The company has applied to the Directorate General of Civil Aviation (DGCA) for a no objection certificate (NOC) to import the aircraft. READ MORE

12:00 PM

BUZZING STOCK | 63 Moons hits upper circuit

11:56 AM

Market check

11:55 AM

Elara Capital on automobiles

The on-the-ground sentiments of purchasers across auto segments are currently tepid, and we expect it to last at least until the General Elections are over in May. Our channel checks indicate the recent festival season demand of Gudi Padwa and Ugadi (for Maharashtra (MH), Karnataka (KTK) and Andhra Pradesh+Telangana [AP+Tel]) was a mixed bag, with demand being subdued in MH and KTK while it bounced back to a certain extent in AP+Tel. We currently assume PV growth of 8%, 2W growth of 7%, MHCV growth of 12% and LCV growth of 11% for FY20E. Among PV firms, we recommend Buy on Maruti Suzuki & M&M and Accumulate on Tata Motors; among 2W firms, we prefer Hero MotoCorp & TVS Motor, and among CV, we are positive on Ashok Leyland.

11:47 AM

We don't allow promoter to extend their leverage, says Nilesh Shah

Nilesh Shah, managing director of Kotak Mahindra Mutual Fund, has been in fire-fighting mode, explaining investors the rationale behind the move to not invoke the shares pledged by Essel group promoters. In an interview to Samie Modak & Jash Kriplani, Shah says the choices made are in the best interest of unitholders. READ MORE

Nilesh Shah, managing director of Kotak Mahindra Mutual Fund