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Sensex Off Day’s High As BJP’s Victory Margin Narrows In Gujarat

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Sensex Off Day’s High As BJP’s Victory Margin Narrows In Gujarat
An electronic ticker board indicates the closing figures of the S&P BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
8 years ago
Sensex and Nifty were trading firmly higher as Dalal Street cheered BJP's victory in Gujarat and Himachal Assembly elections.
Dec 18, 2017 15:42 (IST)
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Dec 18, 2017 14:22 (IST)
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Dec 18, 2017 15:06 (IST)
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Shares of the Mumbai-based data analytics service provider rose as much as 5.25 percent, the most since Nov. 21, to Rs 1,350 ahead of its board meet on Dec. 22 to consider buying back equity shares of the company.

Dec 18, 2017 14:58 (IST)
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Shares of the Mumbai-based film distributor rose as much as 4 percent, the most since Nov. 29, to Rs 204.50 after it signed four film production deals with Drishyam Films, the company said in a stock exchange filing.

Dec 18, 2017 14:16 (IST)
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Shares of the Kolkata-based leather accessories maker rose as much as 20 percent, the most in over six months, to nearly three-year high of Rs 257. The stock rose for second day in a row after it announced September quarter earnings post market hours on Thursday.

  • Revenue up 52 percent to Rs 43.3 crore versus Rs 28.5 crore
  • PAT up 41 percent to Rs 6.4 crore versus Rs 4.5 crore
  • EBITDA up 56 percent at Rs 9.8 crore versus Rs 6.3 crore
  • EBITDA margin at 22.7 percent versus 22.2 percent

Meanwhile, Sreeleathers also got a boost after government announced grant of Rs 2,600 crore for employment generation in leather and footwear sector. �|N,$

Dec 18, 2017 14:03 (IST)
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Dec 18, 2017 13:24 (IST)
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Dec 18, 2017 13:23 (IST)
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  • Prism Cement: The Hyderabad-based cement maker rose as much as 2.05 percent, the most since Dec. 15, to Rs 116.75. Trading volume was 19.5 times its 20-day average.
  • Endurance Technologies: The Aurangabad-based auto component maker rose as much as 1.6 percent, the most since Monday, to Rs 1,294.75. Trading volume was 3.9 times its 20-day average.
  • Schaeffler India: The Mumbai-based ball bearing maker fell as much as 2.6 percent, the most in over two months, to Rs 5,063. Trading volume was 10 times its 20-day average.
  • Adani Enterprises: The Gujarat-based coal mining firm rose as much as 7.25 percent, the most since Nov. 17, to Rs 166.45. Trading volume was 9.3 times its 20-day average.
Dec 18, 2017 12:42 (IST)
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Dec 18, 2017 12:38 (IST)
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Dec 18, 2017 12:31 (IST)
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Dec 18, 2017 12:31 (IST)
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  • Astron Paper's initial public offer was overall subscribed 2.2 times till 11:45 am.

    • Source: NSE

Dec 18, 2017 12:01 (IST)
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Dec 18, 2017 11:55 (IST)
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  • Liquidity and expectations of better earnings will drive the markets forward
  • Second half of next year will see better earnings
  • Expect Nifty to be at 10,700 by the end of 2017
Dec 18, 2017 11:53 (IST)
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IN:

  • IndusInd Bank: Shares of the Mumbai-based private sector lender rose as much as 1.06 percent to Rs 1,694.9 after falling more than 2.7 percent in the morning.
  • Yes Bank: Shares of the Mumbai-based private sector lender rose as much as 0.73 percent to Rs 318.2 after falling more than 3 percent.

OUT:

  • Cipla: Shares of the Mumbai-based drug maker rose as much as 3.2 percent to Rs 594.9
  • Lupin: Shares of the Mumbai-based drug maker rose as much as 1.35 percent to Rs 871.9

Dec 18, 2017 11:51 (IST)
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ICICI Bank:

  • 52 lakh shares changed hands in a block deal
  • Shares of ICICI Bank Ltd. rose as much as 1.86 percent to Rs 308.8 after falling more than 5.3 percent in the morning.

Petronet LNG:

  • 52 lakh shares changed hands in a block deal
  • Shares of Petronet LNG Ltd. rose as much as 3.99 percent to Rs 257.75

Dec 18, 2017 11:40 (IST)
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The rupee applied brakes on its slide in fortunes against the dollar with a loss of only 5 paise at 64.09 as the BJP's tally of leads improved in Gujarat and Himachal Pradesh Assembly election results.

The domestic unit opened lower and crashed instantly to 64.72 as early reports of vote counting had pointed to a close fight between the BJP and the Congress in Gujarat and Himachal Pradesh state elections.

However, things took a dramatic turn for the rupee, with the BJP taking the lead for both the states. The impact was immediate as the local unit turned around and hit 64.09, but still down by 5 paise, at 1109 hours.

Seeking a sixth straight term in Gujarat, the BJP is ahead in 100 seats while the opposition Congress is leading in 70 seats, the Election Commission (EC) trends available for 175 of the 182 seats at stake showed. At this stage, the BJP has a vote share of 49.2 per cent while it is 41.5 per cent for the Congress.

Dec 18, 2017 11:08 (IST)
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Dec 18, 2017 11:02 (IST)
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  • Time has come to focus more on reforms and not just keep talking about cast and religion
  • Stocks to return to normalcy after key polls
  • Polls signal BJP win, margin less than expected
  • Investors to focus on India earnings and Budget
Dec 18, 2017 10:48 (IST)
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Dec 18, 2017 09:48 (IST)
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Dec 18, 2017 10:52 (IST)
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Dec 18, 2017 10:50 (IST)
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Shares of the steel wheel rim maker rose as much as 3.1 percent to Rs 1,022 after the it received a new export order for 24,500 wheels.

The stock has returned 63.8 percent so far this year, compared to 28 percent advance in the country's benchmark Sensex.

Dec 18, 2017 10:25 (IST)
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Dec 18, 2017 10:09 (IST)
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Dec 18, 2017 10:20 (IST)
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Indian equity benchmarks erased losses and moved higher after trends showed that the Prime Minister Narendra Modi-led Bhartiya Janata Party crossed the half-way mark in Gujarat and Himachal Pradesh.

The S&P BSE Sensex rose 0.5 percent to 33,641 and the NSE Nifty 50 Index rose 0.57 percent to 10,393.

Dec 18, 2017 10:05 (IST)
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Shares of Future Supply Chain made a quiet debut on stock exchanges. The stock opened for trading at Rs 674 per share against issue price of Rs 664. The stock rose as much as 4.8 percent to Rs 696.

Dec 18, 2017 09:53 (IST)
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Dec 18, 2017 09:33 (IST)
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  • ICICI Bank: About 52 lakh shares changed hands in a block deal.
  • Petronet LNG: About 52 lakh shares changed hands in a block deal.

    • Buyers and sellers were immediately not known.

    Source: Bloomberg

Dec 18, 2017 09:30 (IST)
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Dec 18, 2017 08:31 (IST)
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Dec 18, 2017 09:30 (IST)
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Dec 18, 2017 09:20 (IST)
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Dec 18, 2017 09:14 (IST)
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  • Nifty futures traded on Singapore Exchange fell 1.6 percent to 10,197 after early trends showed Congress leading on 47 seats while BJP was leading on 43 seates in Gujarat.
Dec 18, 2017 09:04 (IST)
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  • Rupee opened lower at 64.22 per dollar against Friday's close of 64.04.
Dec 18, 2017 08:17 (IST)
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Dec 18, 2017 07:37 (IST)
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Dec 18, 2017 07:30 (IST)
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  • Astron Paper & Board Mill IPO gets 94 percent demand for shares offered on first day sale. Offer closes on Dec. 20
  • Future Supply Chain Solutions to start trading on BSE/NSE after selling shares at Rs 664 each in IPO that got 7.56 times demand
  • ICICI Securities files for public offer of up to 6.44 crore shares
Dec 18, 2017 07:28 (IST)
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Dec 18, 2017 07:26 (IST)
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Fortis Healthcare

  • Pensionskasse Des Bundes Publica bought 28.60 lakh shares or 0.6 percent equity at Rs 135.81 each

Greenply Industries

  • Reliance MF bought 9.90 lakh shares or 0.8 percent equity at Rs 335 each

Kisan Mouldings

  • TCG Fund Fund 1 bought 2.75 lakh shares or 1 percent equity at Rs 136 each
  • Madhu Ranchhoddas Mehta sold 3.02 lakh shares or 1 percent equity at Rs 136.13 each

Transpek Industries

  • Promoter Ashwin Shroff bought 1.6 lakh shares or 2.9 percent equity at Rs 1,310 each
  • Ruchit Patel sold 1.60 lakh shares or 2.9 percent equity at Rs 1,310 each

Dec 18, 2017 07:20 (IST)
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  • KKR, GIC in final lap to invest $2billion in HDFC: BloombergQuint.
  • Dish TV Receives Approval From Government For Merger Of Videocon D2H With Co.
  • Kesoram Industries to raise Rs 350 crore via issue of convertible warrants on preferential basis to promoter.
  • SBI completes transfer of 14 percent stake in SBI cards to GE Capital.
  • Government approves special package for leather and footwear sector.
  • Ultratech to seek shareholders approve to raise FII cap to 40 percent from 30 percent.
  • E-Clerx Services to consider buyback of shares on Dec 22.
  • Petronet LNG to buy 1.2 million tons/year additional LNG from Exxon Mobil.
  • Container Corp of India signs pact with Andhra Pradesh for setting up an integrated logistics and Manufacturing zone.
  • Quess Corp completes acquisition of 51 percent stake in Trimax Smart Infraprojects.
  • RBI increases FII limit from 24 percent to 49 percent in JSW holding.
  • Shalimar Paints to raise Rs 50 crore via rights issue. To issue 35.5 lakh shares at Rs 140 per share. Rights entitlement ratio fixed at 6:32.
  • L&T Infotech Completes Acquisition Of Syncordis & Subsidiaries.
  • Axiscades Engineering says it has completed Phase I acquisition of Mistral solutions.
  • JMC Projects secures multiple orders worth Rs 790 crore.
  • Weilchensee 884 VV GmbH proposes to acquire majority stake in SQS AG. Acquisition to trigger open offer for the shares of company’s India subsidiary.
  • Ramky Infra allots 1.20 crore warrants to promoters and non promoters.
  • RBI imposes fine of Rs 5 crore on Syndicate Bank for non-compliance of KYC norms.
  • Jaypee plans to put entire hospitality assets on the block (ET).
  • HDFC AMC is said to have hired bankers for $300-$600 million IPO (IFR).
Dec 18, 2017 07:16 (IST)
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Motilal Oswal on KNR Construction

  • Maintained ‘Buy’ with price target of Rs 320.
  • Order inflow momentum to pick up from the fourth quarter of the current financial year.
  • BOT projects on self-sustaining mode.
  • Regulatory hurdles put off annuity project deal with Essel Infra.
  • Like KNR for its robust execution track record.
  • Positives: strong balance sheet with net debt-equity of 0.1 time and consistent operating margins.

Investec on Inox Leisure

  • Maintained ‘Buy’; raised price target to Rs 350 from Rs 320.
  • Cost efficiency core DNA; Focus on consumer experience and premiumisation.
  • Improved occupancy and realisations – to drive margins/returns.
  • Screen addition pipeline intact.

Macquarie on BHEL

  • Maintained ‘Underperform’ with price target of Rs 72.
  • Order win fails to surprise; Order pipeline beyond L1 remains bleak.
  • Expect order intake at Rs 34,000 crore in the next financial year.
  • Profitability to remain under pressure in absence of strong revenue growth.
  • Expect no reduction in the receivables level.

Goldman Sachs on BHEL

  • Maintained ‘Sell’ with price target of Rs 75.
  • Expect order wins of Rs 18,000 crore in second half primarily where company is L1.
  • Any miss to potentially drive downside to our order-inflow and revenue estimates.
  • BHEL trades in line but is expected to generate lowest return on equity in the next financial year.

Macquarie on HUL

  • Maintained ‘Outperform’ with price target of Rs 1,402.
  • Management suggests a gradual demand recovery in last three months.
  • Lower base will help boost volume growth in the current quarter.
  • GST rate cuts to have significant positive impact in the medium term.
  • Profitability to remain on track despite input cost inflation.
  • Investments in Lever Ayush will continue in the second half.
  • Higher earnings growth to be driven by margin expansion.
  • Expect 250 basis points of margin expansion over by March 2020.
  • Expect earnings to grow at a compounded rate of 18 percent by March 2020.
  • HUL is top pick in the India Consumer sector.

Credit Suisse on Cement Sector

  • Custom duty on Petcoke increased to 10 percent, Could hurt profitability by 4-5 percent.
  • Industry should pass on higher petcoke cost.
  • Price increase would reduce margin expansion opportunities.

Nomura on HDFC Bank

  • Maintained ‘Buy’; raised price target to Rs 2,350 from Rs 2,200
  • Expect Rs 18,000 crore capital raise. Capital raise to add 12 percent to the next financial year’s book.
  • Expect faster earning growth over the next three years.
  • Normalisation of demonitisation and GST key trigger to earnings growth.
  • HDFC Bank remains top pick among large caps.

Dec 18, 2017 06:44 (IST)
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Dec 18, 2017 06:34 (IST)
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