MARKET WRAP: Indices end flat, Nifty settles at 10,934; Hero MotoCorp up 3%

All that happened in markets today

3:42 PM

Sectoral gainers and losers of the day on NSE

3:38 PM

Gainers and losers of the day on S&P BSE Sensex

3:34 PM

Market at close

The S&P BSE Sensex ended at 36,617, up 34 points or 0.09 per cent, while the broader Nifty50 index settled at 10,934, up 22 points or 0.20 per cent.

3:23 PM

Suzlon Energy issues clarification

3:20 PM

Shares of Suzlon Energy tanks 23%

3:11 PM

A hide-and seek-game that's disrupting property rental brokerage business

The company doesn't display its nameplate publicly. It discourages its employees from flashing their company ID cards. As if this were not enough, the firm has, quite painstakingly, also changed its office location on Google map. If you're imagining the company is engaging in any illegal activity and trying to dodge the law, you couldn't be further from the truth. It is, instead, a huge disruptor and its battle is against deeply-entrenched incumbents. READ MORE

3:00 PM

GAIL third-quarter profit soars 33 percent, beats estimate

State-owned gas distribution company GAIL (India) Ltd on Tuesday reported a 33.2 percent jump in third-quarter profit, beating market estimate, buoyed by a surge in revenue from its natural gas marketing segment.

 

Profit for the quarter ended Dec. 31 came in at 16.81 billion rupees ($234.32 million), compared with a profit of 12.62 billion rupees last year, the company said. READ MORE

2:57 PM

Bharti Airtel off day's low

2:48 PM

Anil Ambani's bankruptcy filing may have a clear winner, his elder brother

In a twist to the tale of two rival billionaire brothers in India, a bankruptcy filing by Anil Ambani’s wireless carrier could have one clear winner -- his elder sibling’s disruptive mobile phone unit. READ HERE

2:45 PM

Nifty Realty index is trading over 2% lower weighed by Indiabulls Real Estate

2:35 PM

Top gainers and losers on S&P BSE Sensex

2:19 PM

Were Jeff Bezos' plans to dominate Indian e-commerce ambushed by Ambani?

Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election.

 

The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the U. S. giants. On cue, India this month rolled out constraints on foreign e-commerce players including Amazon and Walmart-owned Flipkart, which together control 70 percent of its online shopping. The tighter rules, aimed at protecting small traders, may end up benefiting the country’s richest man, Mukesh Ambani, who is building a home-grown competitor. READ MORE

1:57 PM

Market check

1:51 PM

ICICI Securities on Exide Industries

Going forward, over FY18-20E, we expect sales and PAT to grow at a CAGR of 10.4 per cent & 11.2 per cent, respectively. We value EIL at Rs 235 on SOTP basis; Rs 195 i.e. 20x FY20E EPS of Rs 9.8/share (base business) + Rs 36 i.e. 1.2x embedded value of insurance business + | 4 i.e. 3.3x P/BV on smelting business. We assign HOLD recommendation.

1:46 PM

Stocks that hit 52-week low on BSE500

COMPANY	PRICE(rupees)	52 WK LOW	CHG(rupees)	CHG(%)
B H E L	60.70	60.15	-4.15	-6.40
BALKRISHNA INDS	793.25	793.25	-12.15	-1.51
BHARAT DYNAMICS	248.00	247.90	-3.80	-1.51
BIRLA CORPN.	454.95	454.95	-23.70	-4.95
CG POWER & INDU.	32.65	32.00	-4.20	-11.40

1:27 PM

NEWS ALERT

BHEL: An interim dividend of Rs. 0.80 per share ( Face value Rs 2 per share) has been declared by the Board in its meeting held on 05.02.2019

1:26 PM

NEWS ALERT

BHEL reports Q3 net profit of Rs 191.95 cr vs Rs 185.17 cr on QoQ

1:20 PM

Top gainers on BSE500

COMPANY	PRICE(rupees)	CHG(rupees)	CHG(%)	VOLUME
RELIANCE NIP.LIF	141.40	10.10	7.69	660329
L & T INFOTECH	1848.55	92.40	5.26	28407
PETRONET LNG	219.70	9.85	4.69	137718
DEWAN HSG. FIN.	121.35	5.25	4.52	4073692
GRUH FINANCE	217.70	9.40	4.51	52634

1:06 PM

NEWS ALERT

US FDA inspecting Lupin's Goa facility, as per CNBC TV18 report

12:59 PM

Punjab National Bank Q3 net profit at Rs 246.5 crore; stock rallies 4%

Punjab National Bank (PNB) on Tuesday reported a 7.12 per cent YOY rise in its net profit at Rs 246.51 crore for December quarter of FY19. It had posted a profit of Rs 230.11 crore in the year-ago period. Gross NPA for the period came in at 16.33 per cent against 12.11 per cent in the corresponding quarter of last fiscal. However, on a sequential basis, the figures were down. In the September quarter, gross NPAs were at 17.16 per cent. Net NPA stood at 8.22 per cent. Basic and dilued EPS (earnings per share) after extraordinary items came in at Rs 0.70. READ MORE

Punjab National Bank

12:48 PM

Motilal Oswal on Maruti Suzuki

CMP: Rs 6,968

Target Price: Rs 8,131

Reco: Buy

 

We believe that the operating performance has bottomed out in 3QFY19, and expect a gradual recovery from 4QFY19 and a revival in the EBITDA margin to 14% level by 2HFY20. The current price largely factors in most of the headwinds, and any further correction will be a very attractive entry point to gain exposure to a strong franchisee facing secular growth opportunity. We value MSIL at 23x Mar’21E core EPS, based on a two-stage dividend discount model, which is in line with the five-year average P/E (nearly 17% premium to 10-year LPA). The stock trades at 23.9x/19.7x FY20E/21E EPS. Maintain Buy with a TP of INR 8,131.

12:44 PM

NEWS ALERT

PNB reports Q3 net profit of Rs 246.5 cr vs loss of Rs 4532.35 cr on QoQ

12:43 PM

EARNINGS IMPACT

12:33 PM

Jubilant FoodWorks slips 5% after being fined for not passing on GST relief

Shares of Jubilant FoodWorks, the operator of Dominos Pizza chain in India, slipped 5 per cent to Rs 1,321 apiece on the BSE in intra-day trade after the company was found guilty of not passing on Goods and Services Tax (GST)-cut benefits amounting to Rs 41.42 crore on sale of some pizza products. It has been directed to deposit the illegal gains with the government.

“The National Anti-Profiteering Authority (NAA) has passed an order in the Anti Profiteering Investigation on the company which has been posted on NAA website on February 4, 2019, concluding a profiteering of Rs 41.42 crore,” Jubilant FoodWorks said in a regulatory filing. READ MORE

12:14 PM

MSCI's new methodology may trigger $850 mn outflow from equities

MSCI's new methodology to treat foreign ownership limit (FOL), if implemented, may trigger an outflow of $850 million from the Indian equity markets, says a recent India Strategy Report by Morgan Stanley.

 

That apart, the foreign brokerage house expects 12 stocks, including blue-chips GAIL, ITC, Larsen & Toubro (L&T) and Dr Reddy's to see a significant weight reduction in the index. READ MORE

12:01 PM

Market check

11:49 AM

For bulls to take control, Nifty has to stay above 11,000 level

The Nifty continues to range-trade, even though it had a mildly positive response to the Interim Budget. The index is still very close to its own 200-day moving average (DMA). The possible upside is 11,100-plus, but there is strong resistance at 10,900-11,000 zone.

 

Volumes continue to be low. Foreign portfolio investors (FPIs) were net buyers post-Budget, and domestic institutions have been the selective buyers in 2019. The breadth has been negative with third quarter (Q3) results not making the market enthusiastic. READ MORE

11:30 AM

Top gainers and losers on S&P BSE Sensex

11:19 AM

RBI may change stance, inch towards rate cut

The Reserve Bank of India is likely to change its monetary policy stance to "neutral" from "calibrated tightening" on Thursday and move closer to a rate cut in April as inflation stays below the central bank's 4 percent target. A softer stance would bode well for Prime Minister Narendra Modi's government, which wants to boost lending and lift growth as it faces elections by May. READ MORE

A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi. Photo: Reuters

11:05 AM

Bharti Airtel falls 4% after Moody's downgrades rating to Ba1

Shares of Bharti Airtel dipped 4 per cent to Rs 293 apiece on BSE in the intra-day trade on Tuesday after international rating agency Moody's downgraded it to Ba1 from Baa3, the senior unsecured rating for the company as well as the backed senior unsecured notes issued by Bharti's wholly owned subsidiary, Bharti Airtel International (Netherlands) B.V. The ratings outlook is negative. READ MORE