MARKET WRAP: Sensex rises 307 pts led by HDFC twins, RIL; BEML jumps 8%

The Nifty Metal index settled 2 per cent higher led by Hindustan Copper, Jindal Steel & Power and Vedanta.

3:36 PM

Sectoral gainers and losers on NSE

3:35 PM

S&P BSE Sensex: Top gainers and losers

3:33 PM

Market at close

 

The S&P BSE Sensex gained 307 points or 0.85 per cent to settle at 36,270 while NSE's Nifty50 index added 83 points or 0.77 per cent to close at 10,888.

3:23 PM

NEWS ALERT | Coal India to consider interim dividend on December 20 

3:15 PM

Gold futures slip 0.21% to Rs 31,488 per 10 grams on weak global cues

Tracking a weak trend overseas, gold prices edged 0.21 per cent lower to Rs 31,488 per 10 grams in futures trade Monday as participants cut bets.

 

At the Multi Commodity Exchange, gold prices for delivery in February fell Rs 65, or 0.21 per cent, to Rs 31,488 per 10 grams in a business turnover of 133 lots. Similarly, the metal for delivery in January was trading Rs 58, or 0.18 per cent, down at Rs 31,379 per 10 grams in 78 lots. READ MORE

3:03 PM

ALERT Nifty 50 index hits 10,900 for the first time since Dec 3

2:55 PM

NBFCs likely to face more downgrades in December quarter, say experts

 

The recent commentary from the Reserve Bank of India suggested that non-banking financial companies (NBFCs) aren’t scrounging for capital. In other words, the regulator believes that liquidity isn’t as much a crisis as it was thought to be. Yet, experts say with the system bracing for lower asset growth, the sector could be in for more trouble. Consequently, NBFCs stocks are faced with the sharpest earnings cut in many years. Read more

 

2:42 PM

Tata Motors up for fifth straight session; stock rises 5%

 

Shares of Tata Motors were trading higher for the fifth straight day, up 5% at Rs 176 on BSE, after a news report suggested that the company-owned Jaguar Land Rover (JLR) plans to cut thousands of jobs as part of a turnaround strategy.

 

In past one week, Tata Motors has outperformed the market by surging 12%, as compared to a 3.6% rise in the S&P BSE Sensex. Read more

 

2:30 PM

RBI meddling could undermine India's financial stability: S&P Global

The increasing involvement of the Indian government in the affairs of the country's central bank is a negative for the ratings of giant Asian economy's banking system, S&P Global said on Monday.

 

"S&P Global Ratings views as credit negative the circumstances leading to the recent resignation of Urjit Patel, governor of the Reserve Bank of India (RBI)," S&P analysts Michael Puli and Andrew Wood said in a note. Read more

 

2:20 PM

top gainers and losers in S&P BSE Sensex

2:08 PM

Devangshu Datta Look at medium-term debt funds

 

The last week has seen a bewildering quantum of news flow. It all adds up to a good chance of a large increase in liquidity as the general elections draw nearer. The five Assembly elections indicated a clear pattern of rural distress. Rural voters are unhappy with the BJP.

 

Farm loan waivers, plus higher minimum support price, plus power subsidies, etc., will all be on the agenda for all parties in their campaigns. A falling trend of retail inflation creates an economic rationale for cutting rates. Read more

 

1:50 PM

IHH unable to proceed with Fortis open offer after SC stay on stake sale

Malaysia's IHH Healthcare Monday said it will not be able to proceed with the open offer for Fortis Healthcare for the time being, following the Supreme Court order to put on hold sale of controlling stake in the Indian hospital chain.

 

In a regulatory filing, IHH Healthcare, however, said the apex court's order does not impact acquisition of 31.1 per cent stake in Fortis for Rs 40 billion, which was completed on November 13. READ MORE

Stock impact: Fortis Healthcare trading over 3% down

1:41 PM

Top gainers on BSE 500:

COMPANY	PRICE( )	CHG( )	CHG(%)	VOLUME
D B CORP	184.40	12.80	7.46	22133
MMTC	29.75	2.05	7.40	728415
AVANTI FEEDS	387.90	24.20	6.65	155348
I T D C	314.85	18.80	6.35	14198
HIND.COPPER	50.85	2.70	5.61	322695

1:26 PM

HUL, NRB Bearings, Vinati Organics, GMM Pfaudler hit new highs

 

Shares of Hindustan Unilever (HUL), NRB Bearings, Vinati Organics and GMM Pfaudler have hit their respective new highs. PVR, the leading Indian cinema exhibition firm and Ircon International, the construction & engineering company touched fresh 52-week highs on the BSE on Monday. READ MORE

1:10 PM

Buzzing in trade | RSWM zooms 16%

 

1:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,191.83	+228.90	+0.64
S&P BSE SENSEX 50	11,375.62	+68.51	+0.61
S&P BSE SENSEX Next 50	32,446.39	+93.91	+0.29
S&P BSE 100	11,139.68	+61.85	+0.56
S&P BSE Bharat 22 Index	3,435.66	+26.07	+0.76

12:44 PM

Ahluwalia Contracts soars 7% on order win worth Rs 4.25 billion in Bihar

Shares of Ahluwalia Contracts (India) have moved higher by 7% to Rs 305 apiece on the BSE, after the company received a new order of Rs 4.25 billion (approx) for construction of government medical college & hospital building at Chapra, Bihar.
 

The company said the total order inflow during the current financial year 2018 -19 (FY19) stands at Rs 35.29 billion. READ MORE

12:27 PM

Axis Bank, Infosys, ICICI Bank, Indiabulls Housing on fund managers' radar

Axis Bank, Infosys and ICICI Bank have emerged in the most-bought list of mutual fund managers for a second straight month. In November, fund managers pumped in Rs 11.8 billion, Rs 9.3 billion and Rs 6.3 billion, respectively, in these three stocks. Coal India and Indiabulls Housing Finance were also among the stocks that saw huge buying interest from equity mutual funds (MFs). READ MORE

12:16 PM

Fortis Healthcare says open offer will not proceed as SC puts sale of co on hold; stock drops over 3%

12:02 PM

Stock Alert | Bandhan Bank surges 19% in four days 

 

Shares of Bandhan Bank were trading higher for the fourth straight session, rising 4% to Rs 556 on the BSE, after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches. In the past four trading days, Bandhan Bank has rallied 19% from Rs 469 on December 11, as compared to a 3% rise in the S&P BSE Sensex.

11:47 AM

WEB EXCLUSIVE | Five things to avoid in volatile markets

 

In a volatile market, you find that your investment stocks are losing value more than they deserve. You will also find that volatility makes the VIX ratio shoots up, which is why it is also called the Fear Index. It shows the amount of fear in the market and that results in volatility. What we need to understand here is that volatility is not the cause but it is the manifestation of the problem. CLICK HERE TO READ FULL ARTICLE

11:30 AM

Antique Broking on Timken India

 

We initiate coverage on Timken India (TMKN), the leader in tapered roller bearings (TRB), as our preferred pick in the bearings space, highlighting it as a beneficiary of tailwinds in three key segments- Railway, HCV and Industrials. We believe Timken's mobility segments, railways and HCV, are at an inflection point with an expected nearly 2x increase in addressable market over the next five years. While delay in DFC completion has just pushed the opportunity 12-18 months forward, we believe concerns on Timken's market share sustainability in railway freight application (nearly 50 per cent) are unjustified due to its track record of low operational field failures (details in the report), lack of unconditional vendor status for other MNC players, and Timken's technological edge in TRB. We initiate coverage on TMKN with a BUY rating and a target price of Rs 738 (27% upside).

11:24 AM

Top gainers in S&P BSE Sensex

11:15 AM

SBI Mutual Fund to Axis MF, top 15 fund houses lead equity asset growth

The top 15 fund houses have cornered more than half of the incremental inflows coming into open-ended equity schemes of mutual funds in the past year. Among them, SBI Mutual Fund (MF), Axis MF and Aditya Birla Sun Life MF saw the most addition in equity assets for the one-year period ended November 2018, the data from Value Research shows. READ MORE

10:57 AM

What's driving up the Sensex

COMPANY	LATEST	CHG(RS)	CHG(%)	FREE FLOAT MKT CAP (RS CR)	CONTRIBUTION (POINTS)
ICICI BANK	359.90	7.80	2.22	226748.88	48.32
H D F C	1931.30	27.15	1.43	327380.50	44.34
HDFC BANK	2113.80	20.05	0.96	449656.90	41.43
RELIANCE INDS.	1123.50	11.75	1.06	380532.28	38.72
ITC	278.35	2.70	0.98	337536.18	31.82

10:53 AM

Solara Active Pharma hits upper circuit post successful USFDA inspection

Shares of Solara Active Pharma Sciences hit the 10 per cent upper circuit at Rs 300.95 per share on the BSE in the morning trade on Monday after the US Food and Drug Administration (USFDA) concluded the inspection at Solara Research Centre (SRC), Chennai with zero 483s inspectional observations.

 

At 10:29 am, the stock was locked in the upper circuit at Rs 300.25, up 10 per cent from the previous close. Around 87,668 shares traded on the NSE and BSE so far. READ MORE

10:46 AM

Edelweiss on JSW STEEL

 

We remain upbeat on JSTL based on: 

1) its fixed-cost advantage due to economies of scale; 

2) the progress on value-additive projects at Vijayanagar. By valuation, JSTL is trading at premium to peers. 

 

Maintain ‘BUY/SO’ with a TP of Rs 433 (exit multiple-6.7x FY20E EBITDA).

10:37 AM

Jet Airways slips 4% as former CEO Nikos Kardassis leaves firm

 

Shares of Jet Airways fell as much as 4 per cent on BSE in early deals on Monday after news reports suggested Nikos Kardassis, the former CEO of private airline, who made a comeback to the carrier in an advisory role and was tasked to turnaround the cash-strapped airline, has once again parted ways with it. Read more

 

10:28 AM

Motilal Oswal Financial Services on Marico

 

Its stock price has been flattish for about over 2 years before our upgrade post 2QFY19 results, after which the stock rallied 17%. We still believe there is further room for stock price appreciation, both from a near-term as well as medium-term perspective. Three factors reinforce our confidence in Marico’s earnings prospects; these include: 

 

(a) likely benign raw material environment over the next 18-24 months (Copra accounts for 40-50% of material costs and is in a deflationary period); 

 

(b) strong performance of Parachute volumes in recent quarters and healthy growth prospects in the VAHO segment; and

 

(c) good traction being witnessed in new product development.

 

From a medium-term perspective, particularly if the targeted 7-8% sales come from new products, we believe Marico is one of the few companies, which can give 60-70% returns over the next 2-3 years. Maintain Buy.

10:13 AM

Polls, while noisy, can have little relevance: Julius Baer's Mark Matthews

 

It was an eventful week for the markets as they coped with the sudden resignation of the governor of the Reserve Bank of India (RBI) and the outcome of the Assembly elections in five states. Mark Matthews, managing director, head of research for Asia at Julius Baer, tells Puneet Wadhwa that he remains underweight on India.

 

The key thing to watch now will be the direction of the monetary policy action, he says. Click here to read full interview