MARKET WRAP: Sensex up 21 pts, Nifty holds 11,900; private banks rally

All that happened in the markets today

3:40 PM

Sectoral trends at NSE at close

3:39 PM

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

3:35 PM

Closing Bell

Buying in financial counters and select index heavyweights in the fag end of the session, helped the benchmark S&P BSE Sensex to close in the positive territory. The Sensex ended 21.47 points, or 0.05 per cent, higher at 40,345 levels. 

On the NSE, the Nifty50 managed to close above the psychological mark of 11,900, at 11,913, up 5 points or 0.04 per cent.

3:21 PM

PE/VC investments in October touch $3.3 billion, continue 2018 trend

Private equity and venture capital (PE/VC) investments worth $3.3 billion in October 2019 were on a par in the corresponding period last year ($3.3 billion), but 11.5 per cent lower compared to September 2019 (US$3.7 billion).

 

Total PE/VC investments in India now stand at $43.7 billion till now this year--16.5 per cent higher than the previous high of $37.5 billion recorded in entire 2018. READ MORE

3:09 PM

Market check | Sensex turns green for the first time during the day

3:07 PM

Motilal Oswal on Brigade Enterprises

We maintain our pre-sales estimate at 3.8msf/4.2msf for FY20E/FY21E, broadly maintaining our leasing and hotel segment estimates too. We expect the strong momentum to continue across business segments, and thus, maintain our price target of Rs 245/share. Maintain Buy.

3:05 PM

Edelweiss on KEC International

KEC International (KEC) posted 17% YoY revenue growth in Q2FY20 led by strong execution in T&D and railways, and a pickup in the SAE business, which is likely to sustain. Deferment of order inflows remains a key challenge and poses risk to FY21 revenue growth guidance of 15–20% despite an order book of Rs 180bn.

Though within the guidance range, working capital position is tight and on our radar due to the support being extended to railways vendors. KEC remains a play on diversification in new verticals such as civil and smart infrastructure, which are scalable. Maintain ‘BUY’ with a target price of Rs 370 (14x March 2021E EPS)

3:04 PM

Jet Airways, Naresh Goyal under SFIO lens; stock hits lower circuit

Shares of Jet Airways were locked in the lower circuit band of 5 per cent at Rs 22.2 on the BSE on Monday after reports suggested founder Naresh Goyal was under Serious Fraud Investigation Office's (SFIO) lens for siphoning off funds. In comparison, the S&P BSE Sensex trading 0.16 per cent lower READ MORE HERE

3:01 PM

DLF, LIC Housing, Raymond: Nifty 500 stocks appearing overbought on charts

The Relative Strength Index (RSI) is a momentum indicator that assists in determining the underneath strength of a stock. In other words, it helps to measure the magnitude of recent change in prices to evaluate overbought and oversold conditions. This indicator was invented by J. Welles Wilder Jr., and over the decades, several analysts have acknowledged the significance of RSI in making sound investment decisions. The indicator is plotted on 0 -100 scale, with value above 70 is considered as overbought and below 30 as oversold READ MORE HERE

2:50 PM

Earnings Alert | Alkem Labs Q2

-- Net profit at Rs 371 cr, up 45.7% YoY

-- Revenue at Rs 2,264 cr, up 18% YoY

-- EBITDA at Rs 452.6 cr, up 24.4%; margin at 20%

2:42 PM

NEWS ALERT | Balrampur Chini declares Interim Dividend of 250%

-- Dividend of Rs 2.50 per equity share of Re. 1/- each of the company

2:42 PM

Earnings Alert | Balrampur Chini Mills Q2

-- Net profit at Rs 99.8 cr, up 7.9% YoY

-- Revenue at Rs 857 cr, down 15.6% YoY

 

-- EBITDA at Rs 154.6 cr, up 9.5% YoY

 

-- Current tax at Rs 15.3 cr

2:26 PM

YES Bank: World's worst-performing bank stock posts globe's biggest surge

Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised fresh capital and lower bad loans. The surge helped pare the annual loss in the Mumbai-based lender’s shares to 63 per cent.

 

Yes Bank rose about 3 per cent as of 9:48 a.m. in Mumbai on Monday, while the main equity index was little changed. READ MORE

2:02 PM

Sector watch | Mining companies trade mixed

-- Bids to be accepted in multiples of 0.05% of revenue share above above share price

 

-- Amout equal to 2% of intrinsic value of coal mine must be submitted as bank guarantee

 

-- Upfront payment to be equal to 2.5% of intrinsic value of the mine

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (ra CR)	VOLUME
NMDC	103.85	106.40	103.10	0.05	0.05	6.62	637641
VEDANTA	153.20	156.30	152.70	-2.30	-1.48	7.45	486024
COAL INDIA	208.10	210.70	205.95	-1.20	-0.57	3.37	162035
FACOR ALLOYS	1.40	1.40	1.25	0.15	12.00	0.01	68499
SHIRPUR GOLD	6.43	6.43	5.83	0.30	4.89	0.02	25044

1:57 PM

NEWS ALERT | Coal min finalises rules for auction of coal mines for 100% mining: sources to CNBC TV18

-- Govt to consider auction of coal mines on revenue sharing basis

-- Prior allottee must clear dues to participate in fresh auction

-- Successful bidder will pay upfront amount in 4 equal instalments

 

-- Bidder will be allowed to lower production below peak capacity