MARKET WRAP: Sensex rallies 465 points led by IT stocks, RIL and HDFC twins

Among the sectoral indices, Nifty IT index, was the top gainer of the day, jumping 3.1 per cent led by a sharp rise in stock prices of Wipro, Infosys and TCS.

3:37 PM

Top sectoral gainers and losers on NSE

3:37 PM

S&P BSE Sensex: Top gainers and losers

3:35 PM

Market at close

 

The S&P BSE Sensex rallied 465 points or 1.30 per cent to end at 36,318 while NSE's Nifty50 index climbed 149 points or 1.40 per cent to end at 10,887.

3:15 PM

Hindustan Media Ventures' Q3 profit down 25 pc to Rs 29 cr

Hindustan Media Ventures Ltd (HMVL) Tuesday reported 25.40 per cent decline in net profit to Rs 29.16 crore for the third quarter ended December 31, 2018. The company had posted a net profit of Rs 39.09 crore in the October-December quarter of the previous fiscal, HMVL said in a BSE filing. READ MORE

2:59 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
IFB INDS.	933.75	114.30	13.95	6150
INFIBEAM AVENUES	47.40	4.40	10.23	3189109
GODFREY PHILLIPS	986.65	67.10	7.30	71236
J & K BANK	40.05	2.65	7.09	758930
LUX INDUSTRIES	1160.00	69.65	6.39	4865

2:47 PM

Foseco India zooms 20% as board to consider voluntary delisting of shares

Shares of Foseco India locked in upper circuit of 20 per cent at Rs 1,639 apiece on Tuesday after the company announced its board will meet on January 25, to consider voluntary delisting of equity shares from the BSE. “A meeting of the board of directors of the company will be held on Friday, 25 January 2019, to consider, approve and take on record the audited financial results of the company for the quarter and year ended 31 December 2018 and also to consider, if thought fit, to recommend the final dividend for the financial year ended 31 December 2018,” Foseco India said in a BSE filing today. Read more

2:34 PM

COMMENT | HDFC Securities on ICICI Securities

 

We are disappointed by management’s guidance of cost to income (C/I) ratio  of better than 50% by FY22E and believe that being a technology driven broker, ISEC has the ability to reduce operating leverage. This becomes even more critical given the cyclicality of broking revenues. As all major segments of the business are under pressure, we downgrade stock to NEUTRAL with a target price (TP) of Rs 298 (+8.6%) based on 16x Dec-20E EPS.

2:16 PM

Brexit vote: May faces likely defeat; biggest for a British govt in 95 yrs

Prime Minister Theresa May is set to see her Brexit deal rejected in the biggest Parliamentary defeat for a British government in 95 years after her last minute pleas for support appeared to fall on deaf ears. The battle now is over not whether May loses, but how badly. At least 70 of her Conservative Party, as well as sometime allies in the Democratic Unionist Party, are publicly pledged to join opposition Members of Parliament in voting against her agreement Tuesday. That would translate into a defeat by a margin of 150 or more, the largest in over a century. Even if some abstain, a defeat by more than 100 would be the worst since 1924. Read more

2:02 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,196.63	+343.07	+0.96
S&P BSE SENSEX 50	11,353.49	+118.25	+1.05
S&P BSE SENSEX Next 50	32,703.46	+173.23	+0.53
S&P BSE 100	11,135.18	+107.88	+0.98
S&P BSE Bharat 22 Index	3,450.51	+9.08	+0.26

1:57 PM

NEWS ALERT| Infosys adds nearly Rs 10,000 cr, RIL adds Rs 20,000 cr and TCS adds Rs 15000 cr to the market cap today

1:52 PM

Top gainers and losers on S&P BSE Sensex

1:33 PM

Brexit vote today: Here's how related Indian stocks look on technical chart

As the markets brace for the Brexit vote, due later in the day today, here's a look at what the technical charts indicate for the related Indian stocks -

 

Infosys: The stock has crossed the major resistance of the neckline on the daily chart. The double top formation, which was witnessed during September and October last year, has neckline resistance between Rs 700 - Rs 715 levels. The current market price of Rs 725 has scaled above the neckline and immediate resistance level of Rs 713. It is heading towards the life time high of Rs 753 as the stock holds the "Gap up" rally, chart suggests.

 

The weekly chart suggests crossing of trendline resistance at Rs 700 with RSI (Relative Strength Index) making a positive crossover. Click here to read more

1:20 PM

Zee Entertainment trades firm ahead of Q3 results

Shares of Zee Entertainment Enterprises (ZEE) were up 3 per cent at Rs 463 apiece on the BSE in intra-day trade ahead of the October-December 2018 quarter (Q3FY19) results today.
 

In the past two weeks, the stock of ZEE had underperformed the market by falling 6 per cent, as compared to 0.6 per cent decline in the S&P BSE Sensex. READ MORE

1:06 PM

NEWS ALERT PNB Housing board to consider issuing NCDs of up to Rs 10,000 cr in tranches, on Jan 24, according to TV reports

1:00 PM

NEWS ALERT IFB Industries shareholding | Ashish Kacholia's name appears in shareholding pattern for October-December quarter holding 1.05% stake, reports CNBC TV18

12:48 PM

Boost for AIF biz at Gift city as top fund administrator gets license
 
The Alternative Investment Fund (AIF) business in India is set to get a big push with the country’s biggest fund administrator, OPS Fund Services, getting the license to operate in this space. With OPS setting up shop in Gift city, various AIFs are also firming up plans. These funds, be they private equity firms, venture funds, hedge funds or other funds, need some administration services provider who does all other work. Five funds have already applied and a few more are in the pipeline for getting a license to operate in Gift city. Read more

 

12:39 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
INFIBEAM AVENUES	48.10	5.10	11.86	2512835
J & K BANK	40.15	2.75	7.35	645514
J B CHEM & PHARM	320.60	17.55	5.79	14653
WIPRO	329.90	16.55	5.28	653138
JAI CORP	113.85	5.35	4.93	199273

12:26 PM

Wipro rallies 6% as board mulls bonus issue of shares

Shares of Wipro rallied 6 per cent to Rs 332 apiece on the BSE after the information technology (IT) company announced that its board will consider bonus issue of shares in its meeting on January 17-18, 2019. The stock was trading close to its record high of Rs 344 touched on December 12, 2018, on the BSE in intra-day trade. Earlier, in January 2017, Wipro had rewarded investors by issuing bonus shares in the proportion of 1:1 i.e. one bonus equity share of Rs 2 each for every one share held as on the record date. Read more

12:14 PM

Top gainers and losers on S&P BSE Sensex

12:03 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,191.69	+338.13	+0.94
S&P BSE SENSEX 50	11,345.25	+110.01	+0.98
S&P BSE SENSEX Next 50	32,697.88	+167.65	+0.52
S&P BSE 100	11,127.99	+100.69	+0.91
S&P BSE Bharat 22 Index	3,454.78	+13.35	+0.39

11:42 AM

Infosys shares hit three-month high; gain 6% in two days post Q3 numbers

Shares of Infosys hit a three-month high of Rs 727, up 4 per cent on Tuesday, extending its Monday’s 2.5 per cent gain on the BSE, after the software services firm increased FY19 constant currency (CC) revenue growth guidance to 8.5-9 per cent from 6-8 per cent earlier. The company has maintained its EBIT (earnings before interest and tax) margin guidance range at 22-24 per cent. Read more

11:30 AM

STOCK ALERT | Gujarat Gas turns ex-date for stock split; surges 17%

Shares of Gujarat Gas rallied 17 per cent at Rs 157 apiece on BSE on the back of heavy volumes on Tuesday. The stock of city gas distribution company has turned ex-stock split in the ratio of 1:5 with effect from today. READ MORE

11:15 AM

YES Bank up 5% on reports Deutsche Bank's Ravneet Gill in race for top post

Shares of YES Bank were up 5 per cent at Rs 205 apiece on Tuesday, extending its Monday’s 6 per cent rally, amid reports that Deutsche Bank’s India Chief Executive Officer (CEO) Ravneet Singh Gill is in race for the top job at India’s fourth largest private sector bank. “Ravneet Gill and YES Bank Chief Financial Officer (CFO) Rajat Monga were recommended by the board of the bank for the position to the Reserve Bank of India (RBI) last week,” The Economic Times reported citing sources. Read more

 

11:01 AM

COMMENT | Prabhudas Lilladher on insurance sector

Private Life insurers saw sharp recovery in retail annual premium equivalent (APE), growing by 14.3 per cent YoY against 1.0 per cent de-growth seen in November 2018, keeping overall growth at nearly 11 per cent YTD. Growth was mainly led by recovery from large players with SBI Life growing strong at 24 per cent YoY and lower de-growth in HDFC Life and IPru Life as compared to November, while other mid-sized players continued to showcase strong growth helping improve their market share. Monthly numbers may not be relevant to compare but our feedback has been that high ticket size ULIPs are moving slower as financial markets have been volatile and hence most insurers are growing lower ticket size products and focusing on protection business. We closely watch such impact on IPru Life and on other hand is HDFCB open architecture cannibalizing HDFC Life's growth. 

10:45 AM

NSE to list well-governed firms in new category to help new investors

Investors will soon be able to track all companies with high standards of corporate governance in a special category on the National Stock Exchange of India, said its Managing Director (MD) and Chief Executive Officer (CEO) Vikram Limaye. “As a frontline regulator, the NSE has always emphasised high standards of corporate governance. This initiative of ours constitutes a paradigm shift from a mandate-driven system to an incentive-driven system,” said Limaye. READ MORE

10:31 AM

ICICI Securities stk drops 6% on weak Q3 nos; loses 38% since market debut

Shares of ICICI Securities, the investment services arm of ICICI Group, declined as much as 6.28 per cent to Rs 258.70 apiece in the early morning trade on Tuesday, a day after it released financial results for the third quarter of FY19.

 

The company reported a 34.3 per cent fall in consolidated net profit at Rs 101.1 crore for October-December period of 2018-19. It had posted PAT of Rs 153.9 crore in the year-ago quarter. READ MORE

10:18 AM

Jet Airways rises 6% on reports Etihad Airways may raise its stake

Shares of Jet Airways rose as much as 6 per cent to Rs 312 on the BSE in early trade Tuesday after various media reports suggested that Etihad Airways plans to increase its stake in the cash-strapped airline. Etihad Airways currently owns a 24 per cent stake in the debt-laden airline.

Lenders to Jet Airways are preparing to pick a substantial stake and restructure the debt of the cash-strapped airline as a forensic audit has not shown any adverse findings, it is learnt Read more

10:07 AM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
J & K BANK	40.50	3.10	8.29	291707
LINDE INDIA	780.25	30.65	4.09	17036
INDIABULLS VENT.	402.00	14.80	3.82	99647
EVEREADY INDS.	225.55	8.25	3.80	16310
FORBES & CO	2334.95	80.20	3.56	4

10:00 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,158.23	+304.67	+0.85
S&P BSE SENSEX 50	11,331.82	+96.58	+0.86
S&P BSE SENSEX Next 50	32,729.04	+198.81	+0.61
S&P BSE 100	11,118.17	+90.87	+0.82
S&P BSE Bharat 22 Index	3,461.69	+20.26	+0.59

9:54 AM

NEWS ALERT | Rupee breaches 71 per dollar level