MARKET WRAP: Sensex up 139 pts, Nifty ends at 11,690; Tata Motors gains 7%

All that happened in markets today

3:39 PM

Sectoral gainers and losers on NSE

3:38 PM

Top gainers and losers on S&P BSE Sensex

3:37 PM

MARKET AT CLOSE

The S&P BSE Sensex added 139 points or 0.36 per cent to settle at 38,906, while the NSE's Nifty50 index closed near 11,700 level at 11,690, up 47 points or 0.40 per cent.

3:19 PM

NEWS ALERT | Don't expect much impact of El-Nino conditions as of now: Met Dept

3:17 PM

NEWS ALERT | RAINFALL EXPECTED TO BE 96% OF LONG PERIOD AVERAGE: MET DEPT

3:16 PM

NEWS ALERT | Expect near-normal monsoon in 2019: Met Dept

3:08 PM

Sectoral gainers and losers on NSE

2:50 PM

Tata Motors gains 62% from Feb low on Tata Sons stake buy, improved outlook

Shares of Tata Motors continued its northward journey, rising 7 per cent, to hit a fresh six-month high of Rs 230 on the BSE on expectation of improved outlook. The stock was trading at its highest level since October 4, 2018, on the BSE. It has rallied 62 per cent from its February 8, 2019, low of Rs 142 on the BSE, after the company's promoter, Tata Sons bought shares worth over Rs 500 crore in the company through open market. READ MORE

2:45 PM

NEWS ALERT | EC bans Mayawati from campaigning for 48 hrs

2:43 PM

NEWS ALERT | EC bans Yogi Adityanath from campaigning for 72 hrs

2:25 PM

Wipro Q4FY19 preview: Analysts see dip in margins; modest rise in PAT

Since the past six months (October 2018 onwards till date), Wipro has outperformed the markets by rallying 16.6 per cent as compared to 6.5 per cent rise in the Nifty50 and 0.5 per cent gain in the Nifty IT index, ACE Equity data show. Only NIIT Technologies with a gain over 18.3 per cent has performed better than Wipro among the Nifty IT index constituents during this period. READ MORE

Abidali Neemuchwala, CEO of Wipro. Photo: PTI

2:16 PM

FMPs: Lessons for investors, MFs & Sebi

Investors in mutual funds have woken up to another rude shock. A few months ago it was some debt funds that were found to have a massive exposure to the nearly bankrupt Anil Ambani group, the overstretched Zee group, the controversial Dewan Housing and the tottering, mismanaged giant Infrastructure Leasing & Financial Services. CLICK TO READ FULL ARTICLE

1:57 PM

MARKET WATCH | Top 5 losers on BSE

TV18BRDCST	36.60	-1.90	-4.94
RCOM	2.43	-0.12	-4.71
VAKRANGEE	64.40	-2.70	-4.02
NETWORK18	35.70	-1.25	-3.38
IBULISL	343.40	-11.95	-3.36

1:43 PM

MARKET UPDATE | Most active stocks by volume

REL. COMM.	2.43	-0.12	-4.71	49657232
SUZLON ENERGY	7.50	0.30	4.17	7296031
PC JEWELLER	127.70	15.75	14.07	6060913
SPICEJET	117.70	7.80	7.10	4528845
NATL. ALUMINIUM	56.20	0.70	1.26	3047221

1:38 PM

CHART CHECK | Zee Ent, Jet Airways, DHFL, RCom: A trading guide for news-driven stocks

For good reasons or bad, a number of companies have been in the news over the past few months. Zee Entertainment Enterprises, Reliance Communication (RCom), Jet Airways, ICICI Bank, Axis Bank are some such counters. Taking cognizance of these developments, the stocks of these companies have reacted at the bourses. READ MORE

 

1:25 PM

Edelweiss on inflation data

We expect headline CPI to rise to 3.5% by mid-2019 led by food inflation (deflation in pulses and vegetables is reversing), although core inflation is expected to moderate further. Risk to the outlook arises from the possibility of below-normal monsoon, which could trigger sharp rise in prices of a few commodities such as pulses and even vegetables.

1:21 PM

Anand Rathi on infrastructure sector

Contrary to the wider perception of significantly muted awarding in FY19, it has been flattish over FY18, but with some change in the composition. Awarding would have been better, but Q4 was weak here, especially as, with the code-of-conduct coming into force, government awards were halted/delayed. Regardless, Q4 revenue growth is likely to have been strong as most in this space have enough in place for growth in the medium term. In a nutshell, key monitorables to gauge the larger space are: securing appointed dates for the closed hybrid annuity projects, the required scaling-up to deliver on these augmented order backlogs and fund & non-fund based limits for the growth opportunities.

 

Top picks: Ahluwalia Contracts, KNR Constructions and Ashoka Buildcon.

1:18 PM

Elara Capital on Gujarat Gas

We believe the company will benefit from higher gas sales volume at Morbi as well as competitive LNG prices over FO, resulting in a rise in long-term EBITDA/scm margin to be maintained at INR 4.5/scm. We reiterate Buy and raise our TP to INR 208 from INR 180 on strong gas sales volume growth. Our new TP is based on a DCF method, with a 10.5% WACC (unchanged), a 17% volume CAGR during FY19-24E, 4.0% long-term demand growth and implied 19.0x FY21E P/E.

1:15 PM

NEWS ALERT | Tata Motors' JLR announces 5,000 job cuts: Agencies

12:59 PM

BUZZING STOCK | Gillette India hits all-time high; stock surges 5%

Shares of Gillette India hit an all-time high of Rs 7,661, up 5 per cent on the BSE, surging 17 per cent thus far in April, on expectation of strong volume growth in March quarter. In comparison, the benchmark S&P BSE Sensex was up marginally by 0.5 per cent, while S&P BSE FMCG index gained 1.5 per cent during the period. CLICK TO READ FULL ARTICLE

12:48 PM

Foods & Inns hits 20% upper circuit for second straight day on HNI buying

In the past three days, the stock of Foods & Inns has zoomed 48 per cent, as compared to one per cent rise in the S&P BSE Sensex.

12:43 PM

NEWS ALERT | Cabinet okays extension of duration of new urea policy untill further notice

12:20 PM

Market check

12:13 PM

NEWS ALERT | Fuel & Power inflation at 5.41 per cent vs 2.23 per cent MoM

12:13 PM

NEWS ALERT | Vegetables inflation at 28.13 per cent vs 6.82 MoM

12:13 PM

NEWS ALERT | Manufactured products inflation at 2.16 per cent vs 2.25 per cent MoM

12:08 PM

Weekly outlook on rupee by Motilal Oswal Financial Services (MOFSL)

Rupee consolidated in a broad range after the RBI in its policy statement, released earlier this month, decided to cut rates by 25 and maintained its stance neutral. A dovish outlook by the RBI restricted major gains for the currency. On the domestic front, inflation and industrial production number was released. Inflation in March rose at 2.8% compared to 2.57% in the previous month. On the other hand, industrial production in the February rose at a modest pace compared to growth of 1.7% in the previous month. Last week, movement of the currency was more influenced by volatility in global factors than on the domestic front. This week is a relatively shorter week and muted economic calendar could keep the volatility low for the currency. 

12:07 PM

NEWS ALERT | March WPI inflation at 3.18 per cent vs 2.93 per cent

11:57 AM

Centrum Wealth on TCS

Despite rupee appreciation headwinds, TCS’ adjusted EBIT margin at 25.7% for 4QFY19 was up 10bps QoQ and beat our estimate. We retain our EPS estimates, albeit raise P/E multiple to 22x FY21E EPS (vs 20x FY21E earlier). We believe TCS could widen its valuation premium to Infosys. Raise TP by 10% to Rs2,220/sh (22x FY21E EPS vs 20x earlier). Upgrade to Add based on our new rating system.

11:47 AM

Momentum picks by ICICI Securities