Bulls take charge ahead of exit polls: Sensex up 537 pts; Nifty over 11,400

All that happened in the market today

3:43 PM

Top gainers and losers on S&P BSE Sensex at close

3:42 PM

Sectoral trend on NSE

3:41 PM

Market at close

3:38 PM

Market at close

The S&P BSE Sensex ended at 37,931, up 537 points while the broader Nifty50 index settled at 11,407, up 150 points.

3:25 PM

NEWS ALERT | Spencer's Retail board approves acquiring Nature's Basket from Godrej Industries: CNBC TV18

3:16 PM

Bajaj Auto gains after Q4 results

3:03 PM

Delta Corp hits 22-month low; stock plunges 17% on heavy volume

Delta Corp shares hit 22-month low of Rs 156, plunging 17 per cent, in intra-day trade on the BSE on Friday on the back of heavy volumes in an otherwise strong market. The stock was trading at its lowest level since July 7, 2017. In comparison, the benchmark S&P BSE Sensex was up 389 points or 1 per cent at 37,783. The trading volumes on the counter more than doubled with a combined 5.85 million shares, representing 2.2 per cent of total equity of Delta Corp, changing hands on the NSE and BSE. READ MORE

2:59 PM

NEWS ALERT | Bajaj Auto's Q4 one-time gain of Rs 342 cr is on reversal of duty paid from 2007-14

2:56 PM

NEWS ALERT | Bajaj Auto Q4 result

- EBITDA at Rs 1,162 crore

- EBITDA margin at 15.7%

2:55 PM

Result impact | Bajaj Auto climbs over 5%

2:51 PM

NEWS ALERT | Bajaj Auto Q4 result

- Net profit at Rs 1,305.6 crore

- One time gain at Rs 342 crore

- Revenue at Rs 7,395 crore

2:30 PM

Tata Global Beverages climbs almost 7%

2:19 PM

Delta Corp slides 10%

2:16 PM

Edelweiss on Petronet LNG

We are revising down our target price 4% to Rs 219 (Rs 228 earlier) as we revise up our opex assumptions based on current run rate, leading to 4.5% cut in FY20/FY21E EPS. Maintain ‘HOLD’.

 

2:15 PM

Investec Securities on UltraTech Cement

UltraTech Cement (UTCEM) is our preferred play in the large cap cement space, though we note expensive FY20E valuations. Management’s bid to play pricing (securing market share), focus on cost initiatives with limited capex (200MW solar power), steady build-up of growth optionalities (strong capacity pipeline, NCLT assets) and sticky distribution are positives.

Extracting operational synergies and incentives are also part of the plan. We are positive on UTCEM’s strategy but retain HOLD on the back of expensive valuations. Our target price remains unchanged at Rs 4,712/share

2:14 PM

Bajaj Finance's mastery of volume game visible in Q4 performance

In an industry where volumes matter the most, Bajaj Finance seems to have perfected the art. Its March quarter (Q4) performance, which exceeded expectations, is testimony to the same. The results also defied talks of slowdown in consumer sentiment, with its consolidated assets under management (AUM) growing 40 per cent year-on-year (YoY) in Q4. READ MORE

2:14 PM

Prabhudas Lilladher on Siemens

We expect Siemens to benefit from its strong focus on Digitalization/Automation opportunity due to very low penetration and industry's drive to improve efficiency. We have raised FY19/FY20E EPS estimate by 2/3% mainly on account of strong 1HFY19 performance by Mobility and Power & Gas. We expect SIEM to deliver earnings CAGR of 15% over the next two years (FY18-20E) and maintain Accumulate with revised target price of Rs1263

2:13 PM

Prabhudas Lilladher on Hindalco

Outlook on Novelis remained stable on the back of firm demand outlook and strong product mix across regions. With increased investments in conversion business model of Novelis and downstream capacity expansion of domestic operations, the combined share of conversion (including copper) business and value added products would increase by ~500bps to 75% (in EBITDA) by FY20e. Backed by strong business model and attractive valuations, we maintain Accumulate with target price of Rs 224 (earlier Rs245), EV/EBITDA of 5.3x FY21E (earlier 6x FY20E)

2:12 PM

Kotak Institutional Equites on Bajaj Finance

Bajaj Finance reported another quarter of strong performance with 41% AUM growth and improving operating leverage driving 57% growth in earnings. Its concerted efforts to maintain high growth and profitability are undoubtedly commendable.

However, the risks of an eventual consumer cycle are completely ignored by the Street even as Bajaj is actively working on minimizing the impact of the same. Retain SELL, fair value of Rs2,500 (Rs2,400 earlier)

1:57 PM

Sectoral trend on NSE

1:41 PM

20 stocks surged over 100% in past two election years; beat indices in 2019

20 stocks including Bajaj Finance, Shree Cement, SRF, DCM Shriram and Greaves Cotton recorded an over 100 per cent returns in the past two consecutive election calendar years since 2009 and have outperformed the market thus far in the calendar year 2019 (CY19). READ MORE

12:52 PM

Coal India jumps over 2%

12:42 PM

Dabur India grows almost 4%

12:32 PM

Bitcoin slips more than 20% to below $6,300 after clocking 10-month high

The price of bitcoin sank almost 20% on Friday, an abrupt move after a strong recovery in the crypto-currency in recent weeks that took it to a 10-month high. Bitcoin fell to as low as $6,178 at Bitstamp exchange, down 21.6% from the previous close and last stood down 7.8% at $7,266.

12:14 PM

Nifty FMCG gains almost 2%

12:12 PM

Trade war can't bring China down; it'll make us stronger: Chinese media

The trade war with the United States will only make China stronger and will never bring the country to its knees, the Communist Party's People's Daily wrote in a front page commentary that evoked the patriotic spirit of past. The world's two largest economies are locked in an increasingly acrimonious trade dispute that has seen them level tariffs on each other's imports. READ MORE

Illustration by Binay Sinha

11:46 AM

MARKET CHECK

S&P BSE SENSEX	37,625.81	+232.33	+0.62
S&P BSE SENSEX 50	11,784.21	+68.23	+0.58
S&P BSE SENSEX Next 50	30,887.37	+55.36	+0.18
S&P BSE 100	11,408.92	+60.07	+0.53
S&P BSE Bharat 22 Index	3,496.20	+3.26	+0.09

11:34 AM

Hindustan Unilever gains over 2%

11:32 AM

Prabhudas Lilladher on Siemens

We expect Siemens to benefit from its strong focus on Digitalization/Automation opportunity due to very low penetration and industry’s drive to improve efficiency. We have raised FY19/FY20E EPS estimate by 2/3% mainly on account of strong 1HFY19 performance by Mobility and Power & Gas. We expect Siemens to deliver earnings CAGR of 15% over the next two years (FY18-20E) and maintain Accumulate with revised target price of Rs 1,263.

11:15 AM

This pharma stock has risen over 170% in 17 months

Procter & Gamble Health (formerly Merck) shares were trading higher for the sixth straight day, up 4 per cent in early morning trade at Rs 4,389, also its new high on the BSE, after the company reported strong net profit growth in March quarter (Q1CY19). The pharmaceutical company’s profit after tax rose 79 per cent at Rs 40.7 crore in Q1CY19 driven by high interest income and operational efficiencies. Total revenue grew 22.2 per cent at Rs 249 crore against Rs 204 crore in previous year quarter.  READ MORE