MARKET WRAP: Sensex loses 134 pts on weak global cues, sell-off in metals

The S&P BSE Sensex lost 134 points or 0.37 per cent to settle at 36,445, with Sun Pharma (up 4.54 per cent) being the top gainer and Vedanta (down nearly 4 per cent) the worst laggard.

3:40 PM

Sectoral gainers and losers on NSE

3:38 PM

Gainers and losers of the day on BSE Sensex

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 36,445, down 134 points or 0.37 per cent, while the broader Nifty50 index settled at 10,923, down 39 points or 0.36 per cent.

3:16 PM

TVS Motor Company reports 15.5% growth in PAT in Q3; revenue grows by 26%

TVS Motor Company has reported a 15.5 per cent growth in Profit After Tax (PAT) during the quarter ended December 2018 at Rs 178.4 crore as against Rs 154.4 crore reported for the quarter ended December 2017.

 

The company's revenue grew by 26 per cent during the third quarter to Rs 4,664.6 crore in the current quarter of 2018-19 from Rs 3,703.1 crore in the quarter ended December 2017. READ MORE

3:03 PM

Havells India surges 6% on good Q3 results

Shares of Havells India surged 6 per cent to Rs 720 apiece on the BSE after the company reported a better-than-expected consolidated net profit at Rs 196 crore, on the back of strong revenue growth, in December quarter (Q3FY19). The company had a profit of Rs 194 crore in year-ago quarter. READ MORE

2:42 PM

Asian Paints continues to trade a tad lower post Q3 results

2:36 PM

NEWS ALERT Asian Paints Q3 consolidated net profit at Rs 647.15 crores vs Rs 567.21 crores year ago

2:31 PM

Momentum plays: How to trade NiftyFMCG index, Dabur, HUL, ITC, Marico

The current chart formation indicates that the NiftyFMCG index is nearing the support of 30,240 levels. The daily chart with "Higher highs, higher lows" formation indicates a bullish trend. Theoretically, the pattern is identified as “Rising Channel Pattern”, which envelops prices in two trendlines. The rise in prices eventually sees two trendlines in rising direction; it is upward rising trend line and lower rising trend line. READ MORE

2:13 PM

Vivimed Labs down 20% for second straight day; hits 5-year low

Shares of Vivimed Labs locked in lower circuit for the second straight day, down 20 per cent at Rs 21.25 apiece, hitting an over five-year low on BSE. The stock of pharmaceuticals firm tanked 36 per cent in past two trading days from level of Rs 33.15 on Friday. It was trading at its lowest level since August 1, 2013. Till 01:02 PM, a combined 1.02 million equity shares changed hands and there were pending sell orders for 2.07 million shares on the NSE and BSE so far. Read more

2:01 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,381.43	-197.53	-0.54
S&P BSE SENSEX 50	11,402.44	-53.24	-0.46
S&P BSE SENSEX Next 50	32,274.35	+14.45	+0.04
S&P BSE 100	11,155.62	-44.14	-0.39
S&P BSE Bharat 22 Index	3,396.09	-15.11	-0.44

1:44 PM

Top gainers and losers on S&P BSE Sensex

1:29 PM

Stock impact: Havells climbs nearly 1% post Q3 results

1:20 PM

NEWS ALERT Havells Q3 net profit at Rs 195.67 crores vs Rs 194.36 crores year ago.

1:19 PM

NEWS ALERT | CRISIL downgrades NCDs of Jharkhand road projects to BB to D

1:12 PM

NEWS ALERT TVS Motor Company Q3 net profit at Rs 178.39 crores vs Rs 154.35 crores year ago

1:03 PM

Metal shares under pressure; Tata Steel, Jindal Steel, SAIL hit 52-week low

Shares of metal companies were trading under pressure with most of the frontline firms like Tata Steel, Jindal Steel and Power (JSPL), Steel Authority of India (SAIL), Coal India and Hindustan Zinc hitting their respective 52-week lows as Chinese economic growth tanked to a three-decade low. At 12:23 pm; Nifty Metal index, the largest loser among sectoral indices, was down 2.55 per cent at 2,871 points, as compared to 0.76 per cent decline in the Nifty 50 index. The metal index hit an intra-day low of 2,864, its lowest level since June 27, 2017 on the National Stock Exchange (NSE). Read more

12:51 PM

Stocks that are hovering at 52-week low

COMPANY	PRICE( )	52 WK LOW	CHG( )	CHG(%)
ASHOK LEYLAND	87.45	86.55	-3.20	-3.53
BAJAJ CONSUMER	349.55	335.50	-5.25	-1.48
BASF INDIA	1503.00	1501.10	-10.85	-0.72
CIPLA	506.25	503.15	-4.55	-0.89
COAL INDIA	226.30	226.20	-2.85	-1.24

12:38 PM

10 things small investors must do when the market drops 10%

Most investors tend to panic the moment there is a correction in prices. For example, in the last few months, small investors who are invested in mid-cap stocks may have been in for a nasty surprise. Even as the Nifty was flat to positive overall, the mid-cap stocks were down by nearly 15-20 per cent on an average. In fact, in specific cases, the stocks were down by 40-50 per cent. Since small investors are typically invested in mid cap and small cap stocks, this would have been really difficult for these investors. The question is what should these investors do in such cases? READ MORE

12:20 PM

Xelpmoc Design's IPO will allow subscribers to pay via UPI for first time

The Securities and Exchange Board of India’s (Sebi’s) latest reform for the primary market will undergo its first test later this week. The first initial public offering (IPO) of the calendar year by Xelpmoc Design and Tech, a small-sized tech company, will allow retail investors to pay through the Unified Payments Interface (UPI). UPI is a mobile-based application that enables instant payment from one bank account to another. READ MORE

12:02 PM

Ashok Leyland hits 20-month low on growth concerns

Shares of Ashok Leyland continued under pressure, hitting a 20-month low of Rs 86.55 apiece, down 4.5 per cent on the BSE, on concerns of a slowdown in vehicle sales. READ MORE

11:51 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,378.44	-200.52	-0.55
S&P BSE SENSEX 50	11,392.91	-62.77	-0.55
S&P BSE SENSEX Next 50	32,062.69	-197.21	-0.61
S&P BSE 100	11,137.47	-62.29	-0.56
S&P BSE Bharat 22 Index	3,391.73	-19.47	-0.57

11:38 AM

With major deal wins, L&T Infotech expected to beat peers in the near term

Led by ramp-up of major deal wins, large digital portfolio and strong execution, Larsen & Toubro (L&T) Infotech beat peers on the growth front in the December quarter. The company posted a growth of 6 per cent on a sequential basis. This was much higher than analysts' expectations, which pegged the same between 3.5-4.1 per cent. While all the verticals contributed to the growth, it was led by consumer, retail, and pharma segments, which recorded growth of over 10 per cent. Read more

11:25 AM

COMMENT | Prabhudas Lilladher on South Indian Bank

 

SIB's earnings were in-line with expectations but internal performance was weak given the large slippages during the quarter leading to higher provisions and interest reversals and coupled with slightly slower loan growth. PPOP growth of 5.7% YoY continues to remain sub-optimal and was driven by strong treasury gains. Slippages came in from corporate book mainly from the IL&FS recognition and another EPC account both accounting for Rs 5.0 bn (+75% of slippages). Stock trades at 0.7x Sep-20 ABV which is undemanding but few niggling issues like lower PCR, some stress book still remains in corporate (SMA) and slippage run-rate of Rs 2.5 bn will keep asset quality at focus and hence re-rating should be sometime away. Maintain BUY with TP of Rs 22 (unchanged) based on 1,0x Sep-20 ABV.

11:25 AM

Total 102 securities at 52-week low

11:20 AM

Motilal Oswal on Hindustan Zinc

 

CMP: Rs 268 

TARGET PRICE: Rs 273 

RATING: Neutral

 

Zinc market remains tight, even as demand growth is weak. While concentrate supply is expected to increase, the market is likely to remain in deficit over the medium term. Price outlook, thus, remains positive. At zinc LME of USD2,700/t for FY20, the stock trades at 6.2x EV/EBITDA, leaving limited upside potential. Maintain Neutral with a TP of INR273/share, based on 6.5x FY20E EV/EBITDA.

11:07 AM

Nifty Pharma index is trading over 1% higher led by gains in Sun Pharma

10:53 AM

Top gainers and losers on S&P BSE Sensex

10:45 AM

Hindustan Zinc hits 52-week low post December quarter results

Shares of Hindustan Zinc hit 52-week low of Rs 257, down 4 per cent on BSE, after the company reported 4 per cent year-on-year (YoY) decline in net profit at Rs 2,211 crore in December quarter (Q3FY19). The net profit was higher as compared to an average analyst estimate of Rs 2,155 crore, on account of higher other income. Operational revenue during the quarter under review of Rs 5,540 crore, lower by 6 per cent from a year-ago on account of lower metal prices, partly offset by rupee depreciation. Read more

10:38 AM

Momentum Picks by ICICIdirect

10:28 AM

STOCK ALERT | Sun Pharma jumps 5% on series of clarifications

The drug major said that its domestic formulations distribution shall be transitioned from Aditya Medisales, the current distributor, to a wholly-owned subsidiary of Sun Pharma and the change will be made effective by Q1FY20, post receipt of all requisite regulatory approvals. READ MORE