MARKET WRAP: Sensex gains 87 pts, Nifty ends at 10,850; YES Bank jumps 14%

Among sectors, Nifty Auto index slipped 0.87 per cent weighed by Ashok Leyland and Tata Motors. The Nifty Realty index was the top gainer of the day, rising 2.17 per cent led by Oberoi Realty.

3:59 PM

Sectoral gainers and losers on NSE

3:58 PM

S&P BSE Sensex: Top gainers and losers

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 36,195, up 87 points or 0.24 per cent, while the broader Nifty50 index settled at 10,850, up 18 points or 0.17 per cent.

3:23 PM

YES Bank net profit falls 7% to Rs 1,002 crore; Ravneet Gill named MD & CEO

YES Bank on Thursday reported a 6.9 per cent YoY fall in its net profit at Rs 1,001.85 crore for third quarter (October-December) results of FY19. It had posted PAT of Rs 1,076.87 crore in the year-ago period. Sequentially, the figures grew 3.9 per cent.

 

Total deposits grew 29.7 per cent YoY to Rs 222,758 crores. READ MORE

3:13 PM

Stock impact: YES Bank jumps over 6% post Q3 result and MD CEO announcement

3:11 PM

NEWS ALERT YES Bank reports Q3 net profit at Rs 1,001.85 crores vs Rs 1076.87 crores year ago

3:09 PM

NEWS ALERT YES Bank announces Ravneet Gill as MD & CEO with effect from March 1

2:55 PM

Web Exclusive Commodity outlook: Short-term indicators favour bullish mkt for edible oils

Markets have been firm due to positive cues from key soybean contracts on the Chicago Board of Trade. Soybean futures on the Chicago bourse rose due to concerns about a smaller crop in Brazil, the world's second-largest producer, following a spell of dry weather. Soyoil futures on NCDEX, too, rose in line with those of crude palm oil. Prices of soyoil and crude palm oil typically move in tandem because they are used as substitutes for each other. Chinese demand for palm oil, which solidifies in cold weather, tends to rise towards mid-year as the weather warms. Leading analysts forecast at the conference in Kuala Lumpur that palm prices would rise in the coming months, as production and stocks fall in line with a seasonal trend. Read more

2:41 PM

Top gainers and losers on S&P BSE Sensex

2:26 PM

Web Exclusive How to trade Oberoi Realty, Godrej Properties and Brigade Enterprises

The Nifty Realty index outperformed the benchmark indices Sensex and Nifty on Thursday, surging as much as 2.30 per cent to 240.80.

 

Here's a look at how the index and select realty stocks look on technical charts -

 

Nifty Realty index: The recent formations on the daily chart shows consolidation in the range of 243 – 230 levels. The overall trend suggests positive bias as the index trades in a rising trend. The upper falling trend line indicates resistance at 241.50 levels on the closing basis. A strong close above the same, may further strengthen the upside rally equipped with follow-up buying, chart suggests. Read more

2:11 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,137.30	+28.83	+0.08
S&P BSE SENSEX 50	11,342.35	+8.58	+0.08
S&P BSE SENSEX Next 50	31,921.79	-233.57	-0.73
S&P BSE 100	11,088.10	-4.02	-0.04
S&P BSE Bharat 22 Index	3,366.63	+2.97	+0.09

1:55 PM

EARNINGS IMPACT

1:54 PM

NEWS ALERT UltraTech Cements Q3 standalone net profit at Rs 449.06 crores vs Rs 421.47 crores year ago

1:50 PM

Stocks that touched 52-week low on BSE500

COMPANY	PRICE( )	52 WK LOW	CHG( )	CHG(%)
ADVANCE. ENZYME.	158.65	157.50	-4.60	-2.82
ASHOK LEYLAND	85.55	85.55	-3.55	-3.98
BALKRISHNA INDS	849.70	845.20	-13.75	-1.59
BASF INDIA	1425.00	1413.35	-43.20	-2.94
COAL INDIA	224.25	223.05	-1.75	-0.77

1:39 PM

Graphite electrode makers under pressure; Graphite India, HEG fall upto 9%

Shares of graphite electrode (GE) manufacturers Graphite India and HEG were trading under pressure, falling by up to 9 per cent on the BSE on concerns of margin pressure due to the rising cost of raw material. HEG has plunged 9 per cent to Rs 2,986, hitting its lowest level since June 6, 2018, while Graphite India slipped 7 per cent to Rs 626, hitting a nine-month low on the BSE in intra-day trade. HEG plunged 40 per cent from its all-time high level of Rs 4,950 hit on October 16, 2018. Graphite India was trading at its lowest level since April 19, 2018, slipping 34 per cent in past two months. Read more

 

1:31 PM

Shares of NIIT were trading over 6% lower post Q3 results

1:15 PM

PVR slips over 0.5% post Q3 results

1:10 PM

NEWS ALERT PVR Q3 consolidated net profit at Rs 51.6 crores vs Rs 28.9 crores year ago

12:49 PM

Sebi issues circular providing clarity on norms for depository participants

Employees of public financial institutions as well as those without any identifiable ultimate promoters will not be considered as depository participants under Sebi norms, according to a circular.

 

The markets regulator on Wednesday issued a circular providing clarity on certain provisions of regulations related to depository participants. READ MORE

12:35 PM

Top losers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
TEJAS NETWORKS	192.60	-20.80	-9.75	175930
HEG	3070.00	-205.45	-6.27	47700
GRAPHITE INDIA	634.40	-36.80	-5.48	222655
DEEPAK FERT.	107.40	-5.85	-5.17	140826
CAN FIN HOMES	255.30	-10.25	-3.86	55328

12:34 PM

KPIT Technologies turns volatile after going ex-date for demerger

Shares of KPIT Technologies turned volatile, falling 18 per cent in the intra-day trade on Thursday on BSE, after the stock turned ex-date for the demerger.

KPIT Technologies gained 10 per cent to Rs 150, after opening at Rs 136 on the BSE. It fell 18 per cent from its early morning high and touched a low of Rs 123 in the intra-day trade so far. At 12:14 pm, the stock was trading 3 per cent lower at Rs 132, recovering 7 per cent from day’s low on the BSE. The trading volumes on the counter surged multiple-fold with a combined 44.38 million equity shares changed hands on the NSE and BSE so far. On Wednesday, the stock had ended at Rs 218 on the BSE. Read more

12:18 PM

Britannia may dislodge HPCL or Bharti Infratel from Nifty 50 index

Britannia Industries could soon make its way into the benchmark Nifty 50 index. According to an analysis by ICICI Direct, oil marketer Hindustan Petroleum Corporation (HPCL) or telecom tower company Bharti Infratel could be excluded from the index to make way for the Wadia group flagship firm. The free-float market capitalisation of Britannia, a key criterion for inclusion in the index, is much higher than HPCL and Bharti Infratel. Read more

 

12:01 PM

Reliance Securities on L&T  

RATING: Buy 

Target Price: Rs 1,760

 

We believe L&T is well-placed to benefit from several big-ticket projects, as it satisfies all basic requirements i.e. balance-sheet size, strong track record, technical expertise and adequate liquidity to bid for such projects. We expect L&T to report strong order inflow in next couple of years led by multiple high value orders including Bharatmala Pariyojana, SagarMala, bullet train and Metro rail. We are positive on L&T led by strong execution in core E&C business with robust order inflow momentum led by strong performance of key segments i.e. Infrastructure and Hydrocarbon. The plan to exit part of development assets especially monetisation of Hyderabad metro in a longterm is positive, in our view. We expect its revenue and earnings to clock 13% and 16% CAGR, respectively over FY18-21E. At CMP, the stock trades at 18 xFY20E and 16xFY21 earnings. We maintain BUY recommendation and an SOTP-based Target Price of Rs 1,760.  

11:59 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,108.61	+0.14	0.00
S&P BSE SENSEX 50	11,332.22	-1.55	-0.01
S&P BSE SENSEX Next 50	31,945.82	-209.54	-0.65
S&P BSE 100	11,080.72	-11.40	-0.10
S&P BSE Bharat 22 Index	3,364.40	+0.74	+0.02

11:47 AM

Top gainers and losers on S&P BSE Sensex

11:30 AM

Thirumalai Chemicals, Tejas Networks hit 52-week lows on weak Q3 results

Shares of Thirumalai Chemicals and Tejas Networks hit their 52-week low in the intra-day trade on Thursday after the companies reported weak numbers for December quarter of FY19.  Thirumalai Chemicals repored a 76 per cent YoY slide in its Q3 net profit at Rs 10.22 crore. It had posted PAT of Rs 43.24 crore in the year-ago period. Total comprehensive income for the period stood at Rs 18.12 crore, down 81 per cent YoY against Rs 94.46 crore in the corresponding quarter last fiscal. Basic earnings per equity share (Profit for the period) came in at Re 1 against Rs 4.22 in the year-ago quarter. Read more

11:14 AM

Nirmal Bang Equities on TVS Motor

 

TVS Motor Company’s 3QFY19 performance was above our expectations as it reported PAT of Rs 178 crore which was 18% above our estimate. EBITDA margin at 8.1% for the quarter was above our estimate of 7.6%. Margins were higher due to two reasons: 

1) Reclassification of other income in operating income as per new IND-AS rules. 

2) Better cost control because of lower other expenditure. 

 

We have retained our margin estimates for FY19/FY20/FY21 but have marginally raised our volume/sales estimates by 1% each for FY19/FY20/FY21. However, we have retained Sell rating on the stock as its valuation remains highly expensive at 34x/27x FY19E/FY20E EPS, respectively. We have valued the stock based on 20x September 2020 estimated EPS of Rs22 with a target price of Rs442. 

 

 

11:08 AM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
NAVKAR CORPORAT.	49.60	3.40	7.36	28551
UJJIVAN FIN.SER.	302.35	17.95	6.31	458670
OBEROI REALTY	461.85	21.40	4.86	16403
INTERGLOBE AVIAT	1150.00	42.05	3.80	212446
ASAHI INDIA GLAS	264.85	9.65	3.78	5

11:02 AM

Web Exclusive Analysts rule out pre-budget rally; sops for rural sector likely

Analysts have ruled out significant changes to corporate tax and personal income tax rates and a runaway pre-interim budget market rally. On the other hand, they expect the government to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget scheduled for February 01, given that the country is heading towards general elections over the next few months. READ MORE

Photo: Shutterstock.com

10:50 AM

Britannia may dislodge HPCL or Bharti Infratel from Nifty 50 index

Britannia Industries could soon make its way into the benchmark Nifty 50 index. According to an analysis by ICICI Direct, oil marketer Hindustan Petroleum Corporation (HPCL) or telecom tower company Bharti Infratel could be excluded from the index to make way for the Wadia group flagship firm.

 

The free-float market capitalisation of Britannia, a key criterion for inclusion in the index, is much higher than HPCL and Bharti Infratel. A review of the Nifty indices is slated for next month. READ MORE