MARKET WRAP: Sensex up 192 pts, Nifty ends at 10,962 led by RIL, Sun Pharma

The Nifty Pharma index was the top gainer, rising 0.52 per cent higher led by Sun Pharmaceutical Industries and Biocon. The Nifty IT index, too, rose 0.49 per cent higher led by Infosys and NIIT Tech

3:39 PM

Top sectoral gainers and losers on NSE

3:38 PM

S&P BSE Sensex: Top gainers and losers

3:33 PM

Market at close

The S&P BSE Sensex ended at 36,579, up 192 points or 0.53 per cent, while the broader Nifty50 index settled at 10,962, up 55 points or 0.50 per cent.

3:20 PM

Reliance Industries gains 9% in two days post December quarter results

Shares of Reliance Industries (RIL) were quoting higher by 4.4 per cent at Rs 1,237 apiece at the fag-end of the trading session on Monday , gaining nine per cent in the past two trading days on BSE, after the company reported a better-than-expected consolidated net profit of Rs 10,251 crore in October-December quarter (Q3FY19). The company had logged profit of Rs 9,420 crore in the year-ago quarter. READ MORE

3:14 PM

Union Bank declines 5% post Q3 results announcement

Shares of Union Bank plunged as much as 5 per cent in the intra-day deals on Monday after the lender reported net profit of Rs 153.2 crore for October-December quarter of FY19. The bank had posted loss of Rs 1,250 crore in the year-ago period.

 

Percentage wise, net NPAs came in at 8.27 per cent against 8.42 per cent in the September quarter. In the year-ago quarter, numbers stood at 6.96 per cent. Net interest income (NII) fell 2.1 per cent YoY. READ MORE

3:09 PM

NEWS ALERT Hind Zinc Q3FY19 net profit at Rs 2,211 crores vs Rs 2,298 in Q3FY18

2:57 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SPARC	168.15	19.75	13.31	1307057
ITI	111.80	7.40	7.09	854733
TAKE SOLUTIONS	162.95	8.40	5.44	54518
TIME TECHNOPLAST	106.00	5.30	5.26	56458
UNITED BREWERIES	1479.25	66.00	4.67	40201

2:49 PM

LIC completes the acquisition of 51% controlling stake in IDBI Bank

IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in the bank, making it the lender's majority shareholder.

"The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. Read more

 

2:36 PM

Earnings Impact

2:31 PM

NEWS ALERT | Union Bank reports net profit at Rs 153.2 cr vs Rs 139.03 cr on QoQ

2:27 PM

Goldman Sachs expects RBI to cut rates by a quarter percentage point in Feb

Goldman Sachs Group Inc. expects India’s central bank to cut interest rates by a quarter percentage point in February, the latest to add its voice to a chorus of calls for monetary policy easing. The Wall Street bank said lower inflation projections, and expectations of a slower pace of U.S. policy rate hikes prompted it to shift its call from a previous forecast of no change in February. Read more

A view of the Goldman Sachs stall on the floor of the New York Stock Exchange in New York (Photo: Reuters)

2:16 PM

Top gainers and losers on S&P BSE Sensex

2:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,640.11	+253.50	+0.70
S&P BSE SENSEX 50	11,474.70	+66.64	+0.58
S&P BSE SENSEX Next 50	32,415.72	+32.10	+0.10
S&P BSE 100	11,223.30	+57.64	+0.52
S&P BSE Bharat 22 Index	3,422.51	-9.54	-0.28

1:51 PM

Oil check

Crude prices rose to their highest so far in 2019 on Monday after data showed refinery processing in China, the world's second-largest oil consumer, climbed to a record last year despite a slowing economy.

International Brent crude oil futures were at $62.77 per barrel, up 7 cents, or 0.1 per cent, from their last close. Brent earlier rose above $63 for the first time in 2019. US West Texas Intermediate (WTI) crude futures were at $53.92 a barrel, up 12 cents, or 0.2 per cent. WTI earlier advanced above $54 a barrel for the first time this year. READ MORE

1:36 PM

ICICI Securities hits new low; falls 19% in one week on weak Q3 results

Shares of ICICI Securities were trading under pressure for the fifth straight trading session, hitting a new low of Rs 223, down 2 per cent on BSE, after the company reported a weak set of numbers for December quarter (Q3FY19). The stock of a part of the ICICI Group and a leading investment services firm in India was trading at its lowest level since listing on April 4, 2018. READ MORE

12:57 PM

Web Exclusive Chart Check: What's next for L&T and Sun Pharma as per technical charts

The buyback proposal announced by L&T for its shareholders was declined by Sebi on Saturday on concerns of ratio not being complying with the Companies Act and Sebi norms. On the other hand, Sun Pharma urged the markets regulator to examine the role of some media houses with respect to the reports of fresh whistleblower complaints.

 

Here's a look at what technical charts indicate for the two buzzing stocks - L&T and Sun Pharma

12:52 PM

NEWS ALERT | Kotak Mahindra Bank reports net profit at Rs 1,290.93 cr vs Rs 1,141.65 cr net profit in QoQ.

12:37 PM

ITI surges 10% on purchase order of Rs 1,011 crores from GFGNL

Shares of ITI surged 10 per cent to Rs 115 apiece on the BSE in intra-day trade after the company announced that it has received orders worth of Rs 1,011 crores from Gujarat Fibre Grid Network Limited (GFGNL).
 

ITI said it has signed a contract with Gujarat Fibre Grid Network Limited (GFGNL) for implementing BharatNet Phase II project in one of the two packages in the state of Gujarat. READ MORE

12:24 PM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
SPARC	166.80	18.40	12.40	1014078
ITI	113.10	8.70	8.33	718019
LINDE INDIA	652.00	38.40	6.26	278738
TIME TECHNOPLAST	106.85	6.15	6.11	49416
NIIT TECH.	1292.55	65.55	5.34	73870

12:12 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,613.75	+227.14	+0.62
S&P BSE SENSEX 50	11,467.38	+59.32	+0.52
S&P BSE SENSEX Next 50	32,427.16	+43.54	+0.13
S&P BSE 100	11,217.62	+51.96	+0.47
S&P BSE Bharat 22 Index	3,419.60	-12.45	-0.36

12:08 PM

Tepid start to Q3 earnings as India Inc reports net profit growth at 10.1%

The third quarter (Q3) earnings season has started on a sluggish note for Corporate India. While India Inc has reported robust sales growth of 37.5 per cent year-on-year (YoY), net profit growth has been disappointing at 10.1 per cent, indicating margin pressure.

 

The combined net profit of 94 companies that have declared their results for the October-December 2018 quarter stood at Rs 35,723 crore, up from Rs 32,452 crore a year ago. READ MORE

11:55 AM

Index funds: How Jack Bogle's innovation changed investing forever

Index funds are designed to give investors exposure to a diversified set of stocks at a very low cost. The name “index” reflects the idea that by buying the fund an investor in effect immediately owns a broad index of the underlying stocks. All you must do is pay an intermediary – like Vanguard, the investment company Bogle founded, which now manages US$5.1 trillion in assets – a small, built-in fee in exchange for spreading your money out across the market. In part, that’s because index funds are bought and sold just like individual stocks and many even have their own stock symbols. Read more

 

11:36 AM

Impact: Stock up 3%

11:34 AM

NEWS ALERT Sun Pharma could provide clarity on advances to third parties, reports CNBC TV18

Company planning to restructure Aditya Medisales

11:24 AM

South Indian Bank cracks 8 per cent over weak December quarter numbers

Shares of South Indian Bank slipped as much as 8.3 per cent to Rs 14.25 apiece in the intra-day trade on BSE after the company posted a 27 per cent decline in net profit at Rs 83.85 crore for the third quarter ended December 31, 2018, on Saturday. The bank had recorded a net profit of Rs 115 crore in the corresponding period of the previous financial year. Total income of the lender, however, improved to Rs 1,921.93 crore during the quarter under review, as against Rs 1,735.77 crore in the year-ago period, South Indian Bank said in a regulatory filing. Read more

11:16 AM

Top gainers and losers on S&P BSE Sensex

11:03 AM

COMMENT | Prabhudas Lilladher on SBI Life Insurance Company

 

SBI Life's gross written premium (GWP) premium grew by strong 34.5 per cent YoY in 9MFY19 on back of both NB and renewal premium. NB Annual premium equivalent (APE) growth improved to 12.8 per cent YoY on back of very strong individual protection business growth of +4x YoY and leading to improvement in share to 3.2 per cent, up 250 bps in individual NB (Overall protection share 11.2 per cent, up 80 bps from H1FY19). Protection biz has been driven by renewed focus and push from Banca on both ticket size and volumes, which consequently lead to decline in PAR growth. Overall VNB margins of 17.5 per cent, persistency across cohorts and business growth has been steady, in-line with guidance and better than industry peers. We maintain BUY with TP of Rs 779 (unchanged) implying 2.8x multiple on Sep-20 EV.

10:55 AM

Sun Pharma gains 4% after crashing 14% in past two days

Shares of Sun Pharmaceutical Industries gained 4 per cent to Rs 406 apiece on the BSE in intra-day trade on Monday, after the pharmaceutical firm on Friday urged markets regulator Securities and Exchange Board of India (Sebi) to examine the role of some media houses with regard to the allegations raised by the whistle-blower. READ MORE

10:39 AM

Edelweiss on Kajaria Ceramics

Kajaria Ceramics (KJC) continued to clock healthy numbers with volume growth of 16% YoY (multi-quarter high) and 90bps QoQ margin expansion in Q3FY19. We believe its undisputed leadership underpinned by a robust distribution network and brand equity has helped the company gain market share, in line with our thesis. Though the sharp 50% surge in the stock price since Q2FY19 could limit near-term upside, we believe strong volume growth will sustain and fall in gas price will boost margin expansion. Hence, as the stock could trade in the higher valuation band, we revise up target multiple to 30x from 27x to arrive at revised target price of Rs 622 (Rs 530) and we roll forward to June 2020. Maintain ‘BUY’

10:38 AM

Top gainers on BSE500

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
LINDE INDIA	673.40	59.80	9.75	178555
SPARC	159.30	10.90	7.35	403328
ITI	111.55	7.15	6.85	447948
MOTHERSON SUMI	164.40	6.95	4.41	90589
TIME TECHNOPLAST	105.10	4.40	4.37	18240