MARKET WRAP: Sensex jumps 332 pts; Allahabad Bank tanks 10% on weak Q2 no

4:07 PM

Top sectoral gainers & losers on NSE

4:07 PM

S&P BSE Sensex: Top gainers & losers

3:42 PM

Market at close

 

The S&P BSE Sensex gained 332 points or 1 per cent to settle at 35,144 while NSE's Nifty50 index gained 100 points or 1 per cent to close at 10,583.

3:02 PM

Allahabad Bank tumbles 15% on weak Q2 results

 

Shares of Allahabad Bank tanked 15 per cent to Rs 35.40 on BSE after reporting a net loss of Rs 18.23 billion in September quarter (Q2FY19), due to higher provisioning for bad loans and lower interest income. The state-owned bank posted net profit of Rs 702 million in the year-ago quarter. It reported a net loss of Rs 19.44 billion in June quarter. Read more

2:51 PM

NEWS ALERT According to TV reports, Fortis Health board has approved issuing 235 mn equity shares at Rs 170 per share to Northern TK

2:47 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,054.32	+241.33	+0.69
S&P BSE SENSEX 50	11,035.37	+82.27	+0.75
S&P BSE SENSEX Next 50	31,968.61	+97.41	+0.31
S&P BSE 100	10,831.90	+73.63	+0.68
S&P BSE Bharat 22 Index	3,446.45	+21.18	+0.62

2:43 PM

EARNINGS IMPACT

2:41 PM

NEWS ALERT Apollo Tyres Q2: Cons net profit up 4.1% at Rs 1.46 bn Vs Rs 1.40 bn (YoY)

2:29 PM

Eicher Motors trading over 5% higher

2:16 PM

Results impact: Allahabad Bank tanks over 12% as it reports a net loss of Rs 18.22 billion for September quarter Vs profit of Rs 702 million (YoY). 

2:08 PM

Anand Rathi Financial Services on KEC International

 

Modest order inflows are expected due to lower domestic T&D capex. International T&D orders are expected to continue at a robust pace. With the sharp focus on execution, sales are expected to register a 17 per cent CAGR over the next two years. After the recent price drop, the stock looks attractive at present valuations. Cash-flows are expected to improve from current levels. Risks: Keener competition; slowdown in ordering.

1:56 PM

Elara Capital on HDFC
 

We expect a 17% loanbook CAGR over FY18-20E, which assumes a demand revival post the current mayhem and higher volume growth, given management’s increased focus on affordable housing. Margin is likely to soften incrementally, as higher COF more than offset increase in yields. Income on loans sold and ESOP expensing under INDAS will keep earnings volatile. We reiterate Accumulate with a new TP of Rs 1,999 as we incorporate warrant conversion and valuation in other subsidiaries basis current Mcap. 

1:51 PM

Check out the stocks that hit 52-week high in today's trade

Symbol	Security	New 52W/H	Prev. High	Prev. High Date	LTP	Prev. Close	Chng	% Chng
ELECTROSL	ELECTROSTEEL STEELS LIMITED	23.65	23.50	26-Sep-2018	23.65	22.55	1.10	4.88
GALLANTT	Gallantt Metal Limited	66.00	65.60	18-Sep-2018	62.15	61.15	1.00	1.64
LIQUIDETF	DSP LIQUID ETF	1,000.01	1,000.01	12-Nov-2018	999.99	999.99	0.00	0.00
SAKUMA	Sakuma Exports Limited	29.80	25.80	13-Nov-2017	28.95	24.90	4.05	16.27
SMSLIFE	SMS Lifesciences India Limited	549.90	487.30	12-Nov-2018	521.95	487.30	34.65	7.11
VINDHYATEL	Vindhya Telelinks Limited	1,912.00	1,830.00	09-Nov-2018	1,875.05	1784.40	90.65	5.08

(Source: NSE)

1:42 PM

Motilal Oswal on Coal India

 

CMP: Rs 264 

TARGET PRICE: Rs 358 

RATING: Buy

 

COAL is supplying higher share of production on a priority basis to the less-remunerative power sector, which is the reason behind the miss in FSA realization. Demand for domestic coal increases when imports are expensive, as is the case now. However, COAL is benefitting from higher e-auction prices and operating leverage. We lower our e-auction volume estimate by 20mt to 82mt, raise our e-auction price estimate by INR800/t to INR2,500/t and increase our adj. EBITDA

estimate by 1% to INR254b for FY19. We expect PAT CAGR (FY18-20) of ~27%, led by the full benefit of price hikes and evacuation charges, higher volumes and operating leverage. The stock trades attractively at 5x FY20E EV/adj. EBITDA. We value the stock on 6.5x FY20E EV/EBITDA at INR358/share. Maintain Buy.

1:34 PM

JSPL trading lower ahead of its September quarter results

1:30 PM

EARNINGS IMPACT

1:28 PM

NEWS ALERT RITES reports Q2 net profit at Rs 1.16 bn Vs Rs 732 mn year-on-year

1:15 PM

This MP Birla Group stock zooms over 100% in four months

 

Shares of MP Birla Group firm Vidhya Telelinks hit a new high of Rs 1,918, up 8 per cent on the BSE, after the company's net profit more-than-doubled to Rs 557 million in September quarter (Q2FY19), on the back of strong operational income. It had reported a profit of Rs 214 million in the corresponding quarter last year. Read more

1:00 PM

Nifty Pharma index is trading over 2% lower

12:51 PM

Top Losers: BSE Midcap index

COMPANY	LATEST	PREV CLOSE	LOSS( )	LOSS(%)	VOLUME
BANK OF INDIA	81.05	87.25	-6.20	-7.11	2212141
WOCKHARDT	531.45	568.25	-36.80	-6.48	423567
NATL. ALUMINIUM	66.60	69.45	-2.85	-4.10	748927
AU SMALL FINANCE	524.70	545.85	-21.15	-3.87	7429
CROMPTON GR. CON	202.90	210.60	-7.70	-3.66	16227

12:46 PM

Oil falls after Trump calls on OPEC not to cut supply

 

Oil prices fell by around 1 percent on Tuesday, with Brent crude sliding below $70 per barrel and WTI below $60, after US President Donald Trump put pressure on OPEC not to cut supply to prop up the market. The fall also came as the US-dollar hovered near 16-month highs on Tuesday, making oil imports more expensive for any country using other currencies at home. Read more

12:30 PM

Top gainers in BSE 500

COMPANY	LATEST	PREV CLOSE	GAIN( )	GAIN(%)	VOLUME
PTC INDIA FIN	17.35	15.85	1.50	9.46	296490
GODREJ INDS.	494.75	462.00	32.75	7.09	158935
MMTC	31.95	30.10	1.85	6.15	434838
JET AIRWAYS	254.15	242.05	12.10	5.00	1451714
8K MILES	101.45	96.65	4.80	4.97	49777

12:00 PM

Devangshu Datta Money supply likely to be tighter in 2019

 

Investors drew comfort from the fall in crude prices. That in turn, led to a strengthening of the rupee. Results across banking also indicate that there has been some headway in combating non-performing assets (NPAs). But the confrontation between the Reserve Bank of India (RBI) and the government continues, and there are new worries about global growth slowing down, and about the implications of possible changes in political equations both in the US, and in India. Read more

 

11:45 AM

Sustaining strong volumes amid high base, input costs crucial for Britannia

 

With strong volume growth in the September 2018 quarter (Q2), Britannia, too, walked the path of many of its fast-moving consumer goods (FMCG) peers. Britannia clocked double-digit volume growth of 10-11 per cent, according to analysts, which was on expected lines. This helped the company post in-line numbers for Q2 (announced on Monday). Read more

 

11:34 AM

S&P BSE Sensex top gainers and losers

11:17 AM

Prabhudas Lilladher on Oil India

 

Rating: ACCUMULATE 

CMP: Rs 199 

TARGET PRICE: Rs 236

 

We marginally tweak our estimates for FY19/20E. OINL stock has underperformed broader index due to benign crude price and weak volume trajectory. Capital allocation risk is also there given investments in Mozambique where returns will be back ended. We maintain ‘Accumulate’ with a price target of Rs236 (Rs238 earlier) based on 10x FY19E.

11:15 AM

Prabhudas Lilladher on Coal India

Rating: BUY 

CMP: Rs 264 

TARGET PRICE: Rs 330

 

Coal India (COAL) reported Q2FY19 earnings below our estimates due to lower than expected FSA realisations. However, we keep our estimates unchanged for FY19e and FY20e as lower FSA realisations would be offset by stronger than expected E-auction realisations. Costs have been broadly in control on the back of higher scale and limited increase in wage costs. Driven by strong E-auction realisations and stable costs, we expect EBITDA to grow at CAGR of 21% in FY18-FY20e. We reiterate BUY with TP of Rs330, EV/EBITDA of 6xFY20E.

11:14 AM

Aurobindo Pharma slips 4% post Q2 results; CS, Citi bullish on the stock

 

Shares of pharma company Aurobindo Pharma dropped as much as 4.38 per cent to Rs 763 in the intra-day trade on Tuesday after the company reported a 21.7 per cent decline in net profit at Rs 6.11 billion for the quarter ended September 2018, owing to rise in costs. The company's net profit was Rs 7.81 billion in the corresponding quarter last year. Read more

 

11:04 AM

Radico Khaitan extends rally on strong Q2 results; soars 28% in 4 weeks

 

Shares of Radico Khaitan rallied 6.5 per cent to Rs 436, extending its past four weeks gain on the BSE, after the company reported a strong 73 per cent year-on-year (Y-o-Y) jump in net profit at Rs 495 million in September quarter (Q2FY19). The liquor firm had reported a profit of Rs 286 million in the year-ago quarter. Operational revenue grew 28 per cent to Rs 19.06 billion on Y-o-Y basis. Read more

10:44 AM

Prabhudas Lilladher Thyrocare Technologies

Rating: BUY 

CMP: Rs 550 

TARGET PRICE: Rs 796

 

Thyrocare’s sales, EBITDA and Adj. PAT grew 18%, 21% and 3% YoY respectively in Q2FY19. Revenues from preventive care and sick care business revenue grew 6% and 14% YoY respectively. The growth in preventive care returned with 23% YoY growth due to redesigned package offer of bundle of tests and strong marketing in B2B segment of Aarogyam brand. This is significant improvement as revenues from preventive care grew by 23% QoQ in Q2FY19 vs tepid growth in Q1FY19 affected by competition from unorganized players. Management guided for increased focus on B-2-B business and maintain similar B-2-C growth by spending Rs 90-100m p.a. on advertisements.