MARKET WRAP: Sensex rises 89 points, Nifty ends at 11,058; L&T gains 3%

All that happened in the markets today

3:51 PM

Sectoral trend on NSE

3:49 PM

Top gainers and losers on S&P BSE Sensex at close

3:33 PM

Market at close

The S&P BSE Sensex ended at 36,725, up 89 points while the broader Nifty50 index settled at 11,058, up 5 points.

3:20 PM

HDFC Life announces interim dividend of Rs 1.63 per equity share for the financial year 2018-19

3:15 PM

HeidelbergCement India hits 52-week high; stock gains 25% post Q3 results

Shares of HeidelbergCement India hit a 52-week high of Rs 178 apiece, up 4 per cent on the BSE, on back of heavy volumes. The stock surpassed its previous high of Rs 175 recorded on September 11, 2018, on the BSE in the intra-day trade. Since February 11, 2019, HeidelbergCement India has outperformed the market by surging 25 per cent after it reported strong earnings for the quarter ended December 2018 (Q3FY19). READ MORE

2:57 PM

Suzlon Energy is trading over 12% lower

2:41 PM

Why India's upcoming general election is good news for the oil market

The largest democratic exercise on Earth is set to give the oil market a shot in the arm. About 875 million Indians will go to polls over the next three months to elect their leader, dwarfing the 158 million Americans who registered to vote in the 2016 US residential elections. Before they vote, they’ll be courted by a slew of competing political parties -- a process that will boost fuel use in a nation where oil demand is already growing at the fastest pace in the world. READ MORE

2:23 PM

Most active stocks by volume (BSE500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	6.99	-0.89	-11.29	14642969
RELIANCE POWER	12.45	0.02	0.16	6554381
PUNJAB NATL.BANK	85.45	3.20	3.89	3509859
VODAFONE IDEA	32.15	0.95	3.04	3505036
REL. COMM.	6.01	-0.06	-0.99	2938235

2:13 PM

Nifty PSU Bank index hits one-month high; PNB, Bank of Baroda up 3%

The shares of public sector banks (PSBs) were trading higher for the sixth straight day, with the Nifty PSU Bank index hitting a one-month high on Thursday in an otherwise subdued market. At 01:05 PM, the Nifty PSU Bank index, the largest gainer among sectoral indices, was up 0.85 per cent, as compared to 0.14 per cent decline in the benchmark Nifty 50 index. The bank index hit an intra-day high of 2,958, its highest level since February 7, 2019. READ MORE

1:54 PM

Comment on Rupee by Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers

The rupee has appreciated on the back of easing crude oil prices in the international market. There is a lot of optimism regarding a trade deal between the US and China. Having said that, volatility is expected to rise in coming sessions for the rupee as the country is heading towards the general election. There is still a lot of uncertainty regarding a US-China trade deal. Hence, importers are advised to hedge their exposure, given the uncertainty and volatility due to domestic and global factors.

1:44 PM

Markets are already discounting Modi's victory in elections: Analysts

Markets are already pricing in a victory for the Narendra Modi – led National Democratic Alliance (NDA) in the upcoming general elections, analysts say. Even though they may remain volatile in the run-up to the polls as political parties stitch up alliances, the long – term trajectory for the markets remains up, they believe. READ MORE

1:29 PM

NEWS ALERT | Power Grid board approves interim dividend of Rs 5.83/ share to be paid on March 22

1:23 PM

Heatmap: S&P BSE Sensex

1:13 PM

NEWS ALERT | Cabinet approves GoM recommendations for stressed thermal power projects

1:11 PM

NEWS ALERT | Cabinet approves additional Rs 2790 crore to sugar mills

1:07 PM

Should you participate in Tech Mahindra buyback? Here's what experts advise

Last month, IT services firm Tech Mahindra announced its first-ever share buyback worth Rs 1,956 crore at a price of Rs 950 per share, which is over 15 per cent premium to the current market price (as of Wednesday's close). The company plans to buyback 20,585,000 shares, which implies 2.1 per cent of the total shares outstanding. The buyback size is 9.2 per cent of the company's net worth and nearly 29 per cent of cash and investments as of third quarter of financial year 2018-19 (3QFY19)-end. READ MORE

12:55 PM

Reliance Capital claims stake sale to halve its debt by Rs 12,000 cr soon

Reliance Capital on Thursday claimed that it is hopeful of pairing its debt by around Rs 12,000 crore over the next three to four months, by when it expects to complete the stake sale in Reliance Nippon Life Asset Management and Reliance General Insurance. The company has also lined up a few more non-core assets to monetise. READ MORE

12:42 PM

Airtel's capital infusion: Promoters to take part in Rs 25k-cr rights issue

Bharti Airtel's board of directors have approved a rights issue to the eligible shareholders for an amount up to Rs 25,000 crore, the company informed stock exchanges on Thursday. This is part of the $4.57 billion capital-infusion plan. Promoters of Bharti Airtel along with Singapore government's investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds in the company. READ MORE

12:32 PM

Stocks that hit 52-week high on NSE

Symbol	Security	New 52W/H	Prev. High	Prev. High Date	LTP	Prev. Close	Chng	% Chng
AAVAS	Aavas Financiers Limited	1,209.10	1,190.00	06-Mar-2019	1,199.60	1166.20	33.40	2.86
ADANIGAS	Adani Gas Limited	117.70	115.40	22-Nov-2018	114.30	113.10	1.20	1.06
ANUP	The Anup Engineering Limited	546.90	520.90	06-Mar-2019	546.90	520.90	26.00	4.99
ASTRAL	Astral Poly Technik Limited	1,232.75	1,210.00	10-Jan-2019	1,198.20	1165.80	32.40	2.78
BATAINDIA	Bata India Limited	1,358.00	1,348.60	06-Mar-2019	1,349.75	1344.35	5.40	0.40

Click here for the full list

12:18 PM

Prabhudas Lilladher on Ipca Laboratories

Rating: BUY  

CMP: Rs 873  

Target Price: Rs 921

 

IPCA guided for a 20% growth in AP, 15% growth in India and overall revenue growth of 13% in FY20E-22E without discounting revenue from US. We assume 15% CAGR in revenues during FY18-21E with turnaround in EU generics and partial success in US generics. We maintain our earnings estimates and the stock trades at PE 20.5x FY20E and 16.9x FY21E respectively. We maintain ‘Buy’ and retain TP at Rs 921.

12:10 PM

India's billionaire club to grow 37% in 5 years, to beat global average

India’s billionaire population is expected to grow 37 per cent in the next five years, beating the global and Asian averages, said a new report by UK-based property consultant Knight Frank on Wednesday. In Asia, the number of billionaires is expected to grow 27 per cent, while the number in North America is set to rise 17 per cent and in Europe by 18 per cent, between 2018 and 2023. READ MORE

12:00 PM

Market check

11:52 AM

Larsen & Toubro gains 3% on winning multiple orders

Shares of Larsen & Toubro (L&T) were trading 3 per cent higher at Rs 1,355 apiece on the BSE on Thursday. In the past three days, the company has secured multiple orders including a large contract from Bangalore Metro Rail Corporation and construction of campus development of IIT Hyderabad. At 11:13 am, L&T was the top gainer among S&P BSE Sensex and Nifty 50. In comparison, the benchmark indices were trading flat on the BSE and NSE. READ MORE

11:44 AM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	7.10	-0.78	-9.90	9905863
LAK. VILAS BANK	76.00	-5.30	-6.52	319955
JINDAL STAIN.	40.70	-1.95	-4.57	33253
J & K BANK	47.45	-2.10	-4.24	152263
SHANKARA BUILD.	457.00	-16.50	-3.48	8781

11:35 AM

Infosys won't compromise on growth margins: CEO Salil Parekh

Infosys will not compromise on margins for pushing up revenue growth and its current investment in people and building up digital capabilities will not affect its margins in any form, rather make the company future-ready. In an interaction with CNBC TV18, company’s CEO, Salil Parekh said the firm was strengthening its marketing muscle by hiring more number of people as part of its go-to-market strategy apart from adding more locals in key client geographies.  READ MORE

11:27 AM

Shares of Avanti Feeds are trading 6.5% higher

11:23 AM

Top gainers and losers on S&P BSE Sensex

11:11 AM

Aavas Financiers surges 21% in four days after CARE upgrades credit rating

Shares of Aavas Financiers were trading higher for the sixth straight day, up 5 per cent at Rs 1,205 apiece, hitting a new high on the BSE. Since March 1, in the past four trading sessions, it has rallied 21 per cent after CARE Ratings upgraded its credit rating to AA-/stable from A+/positive for long term bank facilities and long term instrument – subordinated debt. The rating agency reaffirmed A1+ rating on the proposed commercial paper issue. READ MORE

10:56 AM

From RIL to Air India: India Inc wades into rupee bond market as costs drop

Rupee bond sales are gathering pace once again as some of India’s bellwether companies consider tapping the market, after a lull in February. A flurry of fundraising in the beginning of the year cooled last month as issuers waited for cues on rates from the federal budget and monetary policy review. Sales are now back on track as large firms wade in to take advantage of falling financing costs. READ MORE

10:48 AM

Rupee rally may be short-lived as elections, oil price risks loom

India’s rupee has snapped out of its recent doldrums, thanks to the easing in the military skirmishes with Pakistan and strong foreign flows into the nation’s shares. Analysts aren’t sure if the gains will sustain with elections due by May. READ MORE