MARKETS: Sensex zooms 425 points as heavyweights gain; Nifty ends at 11,483

All that happened in markets today

3:46 PM

MARKET COMMENT :: Devang Mehta, Head – Equity Advisory, Centrum Wealth Management

Indian markets have been recipient of robust foreign flows this entire march on the back of increased likelihood of strong political stability & policy continuity post elections and the softer stance adopted by global central banks. The buying in index heavyweights continued after market saw a couple of days of correction, which was actually a healthy sign. There seems to be enough appetite to put money to work in good Indian companies with robust fundamentals.

With the fourth quarter result season being just around the corner, the participants will watch the earnings trajectory closely for the rally to sustain or gather further steam. As the important benchmark indices move toward life high, broader markets still offer a lot of opportunities to accumulate good quality businesses at reasonable valuations

3:41 PM

Sectoral gainers and losers on NSE

3:40 PM

Top gainers and losers on BSE

3:38 PM

MARKET AT CLOSE

The S&P BSE Sensex rallied 425 points or 1.12 per cent to settle at 38,233.41, while NSE's Nifty50 index closed at 11,483, up 129 points or 1.14 per cent. 

3:10 PM

ICICI Securities on L&T Infotech

We expect LTI to witness healthy double-digit revenue growth of 16.7% CAGR in FY18-21E in dollar terms with stable EBITDA margins of 19.3% and net profit margins of 15% in FY21E. Thus, we initiate coverage on the stock with a BUY recommendation and a target price of Rs 1,950/share based on 18x FY21E EPS. In our view, our target multiple for LTI is justified considering the robust growth trajectory implying a PEG ratio of 0.8x and strong return ratio (RoCE – 34.4% in FY21E).

3:00 PM

MARKET CHECK

2:56 PM

Pidilite Industries hits record high of Rs 1,239; stock surges 5%

Pidilite Industries shares hit a record high of Rs 1,239, up 5 per cent, in intra-day trade on the BSE on Tuesday, on the expectation of healthy earnings growth. The stock of specialty chemicals surpassed its previous high of Rs 1,209 reported on December 19, 2018 in intra-day deal. READ MORE

2:47 PM

Adani Enterprises is trading over 3.5% higher

2:36 PM

Here are the five crucial financial tasks you must complete before March 31

For most salaried people, March 31 means a rush to complete unfinished investments for tax saving. However, there are more things, other than such investments, that need to be done before the financial year comes to a close. Here are 5 things you must do before this weekend: Invest for tax saving Financial planners say that you should ideally plan your investments from the beginning of the financial year. READ MORE

2:19 PM

NEWS ALERT | HCC to transfer arbitration awards, calims of Rs 1750 cr to investors: TV reports

2:16 PM

Philip Capital on LIC Housing Finance

We model 21% earnings CAGR over FY18‐21 translating into an improvement in RoE to +17% from 16% in FY18. The stock saw trough valuations of about 1.15x P/BV in September 2013. We expect spread to improve to 1.3% in FY20, much above its trough spread. Historically, the median valuation for LICHF has been 1.9x – we value the entity at 1.9x one‐year forward book value to arrive at a target of Rs 625 (Rs 520 earlier). 

2:12 PM

Agri commodity derivatives space set to hot up as NSE forays, BSE expands

Stock exchanges like BSE and the National Stock Exchange (NSE) entered the commodity derivatives space last October and the initial expectation was that the bourse would look at agri space after its non-agri business stabilises. READ MORE

2:09 PM

ICRA on TRAI's new tariff regime

ICRA has considered various scenarios to evaluate the likely impact of the new tariff regime on the monthly bills of the consumers. As per ICRA’s analysis, assuming that the consumer continues to opt for channels (only standard definition (SD)) across genres and broadcasters, as was the case in

the pre-tariff order regime, the monthly bill is likely to go up by as high as 44%.

2:06 PM

Reliance Securities on Aurobindo Pharma

Despite challenging environment in the US, we expect Aurobindo Pharma’s revenue to clock 13% CAGR over FY18-21E led by new launches (122 pending for approval) and ramp-up in injectable business.  With double-digit margin in European business, we expect further improvement in margin led by cost savings following transfer of products from Europe to Indian manufacturing units.  At CMP, the stock trades at a discount to its peers owing to higher leverage. We maintain our BUY recommendation on the stock with a Target Price of Rs 860.

1:55 PM

Sectoral trends on NSE