Get App
Download App Scanner
Scan to Download
Advertisement
LIVE UPDATES

Sensex, Nifty Erase Gains Led By Weakness In Auto Stocks

Read Time: 1 min
Share
Sensex, Nifty Erase Gains Led By Weakness In Auto Stocks
A man walks in front of the Bombay Stock Exchange in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg News)
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, rose 0.2 percent to 10,489.
Jan 03, 2018 15:51 (IST)
Link Copied
Share

Jan 03, 2018 14:05 (IST)
Link Copied
Share

Jan 03, 2018 14:57 (IST)
Link Copied
Share

Jan 03, 2018 14:50 (IST)
Link Copied
Share

  • Sagar Cements: Shares of the Andhra Pradesh cement maker rose as much as 14 percent, the most since Nov. 2016, to Rs 1,048 after Ventura Securities re-initiated coverage on the stock with a ‘Buy’ for target price of Rs 1,715. Ventura sees strong revenue growth and expect volumes to grow at a CAGR of 19 percent over FY20.
  • Aarti Drugs: Shares of the Mumbai-based drug maker more than 12 percent to record high of Rs 714.50 after the company informed stock exchanges that its board of directors will meet on Jan. 8 to discuss share buyback proposal.
  • Gallant Ispat: The Gujarat-based steel maker was locked in a 10 percent upper circuit at Rs 274.85 for third day in a row after SEBI revoked its earlier order classifying it as shell company.
  • MEP Infra: The Mumbai-based road construction company rose as much as 14 percent 23 lakh shares (1.4 percent equity) changed hands in two blocks.
Jan 03, 2018 14:31 (IST)
Link Copied
Share

Disa India

  • Stock was rose as much as 20 percent to reach its daily limit, to Rs 7,500
  • Trading volume was 56.2 times its 20-day average.

Gloster

  • Stock rose as much as 19.2 percent to Rs 740.85.
  • Trading volume was 55.5 times its 20-day average.

Ador Welding

  • Stock rose as much as 19.6 percent to Rs 615.
  • Trading volume was 28.9 times its 20-day average.

Cheviot Co

  • Stock rose as much as 18.2 percent to Rs 1,490.
  • Trading volume was 26.4 times times 20-day average.

Ambika Cotton Mills

  • Stock was rose as much as 20 percent to reach its daily limit, to Rs 1,655.55.
  • Trading volume was 9.6 times its 20-day average.

Tasty Bite Eatables

  • Stock was rose as much as 20 percent to reach its daily limit, to Rs 9,420.60.
  • Trading volume was 12.1 times its 20-day average.

Jan 03, 2018 13:20 (IST)
Link Copied
Share

  • RBI not comfortable with rupee appreciation
  • RBI should allow more volatility in the rupee market and when rupee softens RBI should let it depreciate
  • Rupee likely to trade in a wide range of 61.50 to 70.
  • Surprised to see rupee appreciation
Jan 03, 2018 13:02 (IST)
Link Copied
Share

Jan 03, 2018 13:00 (IST)
Link Copied
Share

Shares of the Mumbai-based drug maker rose as much as 9 percent to Rs 714 after the company informed stock exchanges that its board of directors will meet on Jan. 8 to discuss share buyback proposal.

Jan 03, 2018 12:33 (IST)
Link Copied
Share

Jan 03, 2018 10:03 (IST)
Link Copied
Share

  • ITC has 33 lakh shares change hands in a block.
  • Berger Paints has 25.4 lakh shares change hands at Rs 264 per share on the BSE in two blocks.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Jan 03, 2018 12:15 (IST)
Link Copied
Share

  • Indian equity benchmarks were trading firmly higher led by gains in Reliance Industries, ICICI Bank and TCS.
  • The S&P BSE Sensex was up 0.35 percent at 33,929 and the NSE Nifty 50 Index rose 0.43 percent to 10,485. The mid-cap and small-cap shares were outperfoming their large-cap counterparts with the S&P BSE MidCap Index rising 0.75 percent and the S&P BSE SmallCap Index advancing 1 percent.
  • All sector gauges compiled by BSE were trading higher led by the S&P BSE Metal Index's 1.6 percent gain.
  • From the Nifty 50 basket of shares, 35 were trading higher while 15 were among the laggards.

    • Top Gainers:

    • Adani Ports up 2.64 percent
    • Hindalco up 2.06 percent
    • ICICI Bank up 1.84 percent
    • Tech Mahindra up 1.82 percent
    • Vedanta up 1.57 percent

    Top Losers:

    • Dr. Reddy's Labs down 2.87 percent
    • ONGC down 1.32 percent
    • Tata Motors down 1.02 percent
    • Maruti Suzuki down 1.01 percent
    • Infosys down 0.65 percent
Jan 03, 2018 12:02 (IST)
Link Copied
Share

Jan 03, 2018 10:59 (IST)
Link Copied
Share

Jan 03, 2018 11:33 (IST)
Link Copied
Share

Jan 03, 2018 10:53 (IST)
Link Copied
Share

Jan 03, 2018 10:30 (IST)
Link Copied
Share

Jan 03, 2018 10:17 (IST)
Link Copied
Share

Jan 03, 2018 10:14 (IST)
Link Copied
Share

  • Do not think market sentiment will be as bullish as 2017
  • Have been cautious on financials for some time now
  • Do not have any exposure to commodities at the moment
Jan 03, 2018 10:03 (IST)
Link Copied
Share

Jan 03, 2018 09:46 (IST)
Link Copied
Share

Shares of the Mukesh Amabni-led company rose as much as 1.7 percent to Rs 927.20 after it commissioned a refinery off-gas cracker at Jamnagar with a capacity of 1.5 MMTPA, the company said in a press release

Jan 03, 2018 08:42 (IST)
Link Copied
Share

Jan 03, 2018 09:40 (IST)
Link Copied
Share

Shares of the Mumbai-based jewellery maker rose as much as 2.36 percent to Rs 865.40 after a couple of global brokerage houses maintained their buy call on the stock.

Goldman Sachs maintained ‘Buy’ with price target of Rs 826 while JPMorgan maintained 'overweight' and raised its target price to Rs 890 from Rs 750.

Jan 03, 2018 09:26 (IST)
Link Copied
Share

Jan 03, 2018 08:42 (IST)
Link Copied
Share

Jan 03, 2018 08:42 (IST)
Link Copied
Share

  • Nifty January futures trading at 10,472.2, premium of 30 points versus 64 points.
  • Jan. Series: Nifty open interest up 1 percent; Bank Nifty open interest up 3 percent.
  • India VIX ended at 13.6, up 2.4 percent.
  • Max open interest for January series at 11,000 Call (open interest at 44 lakh, up 7 percent).
  • Max open interest for January series at 10,300 Put (open interest at 49.9 lakh, up 6 percent).
Jan 03, 2018 08:42 (IST)
Link Copied
Share

  • Circuit filter revised to 10 percent: IVRCL, Gallant Ispat, Gallant Metal.
  • Circuit filter revised to 5 percent: D B Realty.
  • Amulya Leasing and Finance name changed to Apollo Pipes Ltd.
  • Aarti Industries’ last trading day before buyback eligibility date.
  • AB Nuvo, Unitech and United Spirits shifted from group A to group B.
  • Novartis India last trading day before buyback opens.
Jan 03, 2018 08:42 (IST)
Link Copied
Share

Capri Global Capital

  • Promoter Capri Global Holdings Pvt Ltd bought 13.56 lakh shares or 0.8 percent equity at Rs 119.51 each

Euro Ceramics

  • Aspire Emerging Fund sold 2.65 lakh shares at Rs 8.07 each

Reliance Naval

  • IL&FS Financial Services sold 94 lakh shares or 1.3 percent equity at Rs 63.02 each

Uttam Galva Steel

  • Eriska Investment Fund sold 8.50 lakh shares or 0.6 percent equity at Rs 21.83 each

Ashapura Intimates Fashion

  • Sunglow Capital sold 3.10 lakh shares or 1.6 percent equity at an average of Rs 453.3 each.

Websol Energy System:

  • Garnet International bought 17.62 lakh shares or 7 percent equity at an average of Rs 127.7 each.
  • India Max Investment Fund sold 14.14 lakh shares or 5.6 percent equity at Rs 121.31 each.

Jan 03, 2018 08:42 (IST)
Link Copied
Share

  • Reliance Industries commissions a refinery off-gas cracker at Jamnagar with a capacity of 1.5 MMTPA.
  • Titan says third-quarter jewellery retail growth is in-line with the company’s expectation
  • Punjab and Sind Bank to raise Rs 1,000 crore via equity
  • Apar Industries enters in a 40:60 joint venture with PPS Motors
  • SEBI revoked the shell company status of Gallantt Ispat.
  • Orient Green Power sold 8 biomass subsidiaries to Janati Bio Power for Rs 49 crore.
  • SORIL Holdings and Ventures allotted 3.5 crore warrants to promoters at Rs 132 per share.
  • Lasa Supergenerics filed new CEP application with European Medicines Directorate.
  • Orient Exports to consider buyback of equity shares on Jan. 5.
  • Indowind Energy to raise Rs 30 crore through a QIP or rights issue.
  • Dixon Technologies commences manufacturing of CCTVs and DVRs at its Tirupati facility.
  • VST Tillers December sales up 79 percent to 3,615 units.
Jan 03, 2018 08:27 (IST)
Link Copied
Share

BoFAML on Hindustan Zinc

  • Initiated ‘Buy’ rating with price target of Rs 345.
  • Elevated prices to coincide with revival in volume growth.
  • Zinc - our favored exposure with strong fundamentals.
  • Expect high dividend payout given significant cash needs of parent.
  • Captive access to 100 percent of its requirements allows to capture the benefit of positive pricing outlook for zinc.
  • Expect volumes to grow at a compounded rate of 13 percent over the financial years through March 2020.
  • Premium valuations justified by strong zinc price outlook and superior profitability.

BoFAML on Hindalco

  • Initiated ‘Buy’ rating with a price target of Rs 340.
  • Combination of globally competitive upstream business and world-class downstream business.
  • Uniquely positioned on cost leadership and technical expertise.
  • Upstream cost positioning improved significantly with higher margins in downstream.
  • Deleveraging to continue with 9 percent FCF yield.
  • Earnings volatility to reduce providing strong case for upward re-rating.
  • Expect Novelis to contribute more than 54 percent of operating income over the financial years through March 2020.

Ventura Securities on Sagar Cement

  • Re-initiated ‘Buy’ with price target of Rs 1,715; potential upside of 89 percent over 24 Months.
  • Enthused by company’s astute understanding of the cement cycle.
  • Favorite way to play the cement growth story in south India.
  • Strong revenue growth on the cards.
  • Strategic capacity expansions to help lower freight costs.
  • Significant cost savings initiatives to boost profitability.
  • Expect EBITDA per ton to grow at a compounded rate of 20 percent.
  • Expect volumes and operating income to grow at a compounded rate of 19 percent and 43 percent respectively over the financial years through March 2020.
  • Expect net profit to rise to Rs 158 crore by March 2020 versus net loss of Rs 4 crore in the prevous financial year.

Jefferies on Punjab National Bank

  • Maintained ‘Hold’ with price target of Rs 190.
  • Capital boost to allow faster loan book growth.
  • Growth to improve from the previous quarter with uptick in corporate loans.
  • Stressed assets steady; Provision coverage to improve.
  • NIM to improve with IBC or other resolutions coming through.
  • Expect pre-provision operating profit to grow at a compounded rate of 22 percent over the financial years through March 2020.

JPMorgan on Titan

  • Maintained ‘Overweight’; raised price target to Rs 890 from Rs 750.
  • Significant opportunity exists to grow on account of market share gains.
  • Expect 8-10 percent share possible over the next 3-4 years vs current 4-5 percent.
  • Expect revenue and earnings per share to grow at a compounded rate of 19 percent and 27 percent respectively over the financial years through March 2020.
  • Store additions pace could be accelerated for Tanishq.
  • Reduction in GST rates for watches/sunglasses/frames bodes well.
  • Operating leverage should kick in with scale.
  • Premium valuations to sustain.

Goldman Sachs on Titan

  • Maintained ‘Buy’ with price target of Rs 826.
  • Trading update in the previous quarter was in-line with estimates.
  • Previous quarter was driven by strong festival season, new collections and market share gains.
  • Tanishq has increased focus on high ticket jewellery - more collections and lower making charges.
  • Expect net addition of 17 new jewellery stores in the current financial year.

IDFC Securities on Indian IT Services

  • Overweight as cyclical slowdown is bottoming, expectations remain modest and valuations turn attractive.
  • Slowdown cyclical as not visible across all segments.
  • Expect growth to improve led by improving U.S. economy.
  • Play Infosys and TCS on cyclical recovery; Mindtree on micro growth.
  • TCS: Initiated ‘Outperformer’ with price target of Rs 2,950.
  • Infosys: Initiated ‘Outperformer’ with price target of Rs 1,250.
  • Wipro: Initiated ‘Neutral’ with price target of Rs 290.
  • HCL: Initiated ‘Neutral’ with price target of Rs 925.
  • Tech Mahindra: Initiated ‘Outperform’ with price target of Rs 610.
  • Mphasis: Initiated ‘Neutral’ with price target of Rs 750.
  • Mindtree: Initiated ‘Outperform’ with price target of Rs 650.

Jan 03, 2018 08:27 (IST)
Link Copied
Share

Jan 03, 2018 08:00 (IST)
Link Copied
Share

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email
Newsletter Preview

Videos

Watch
LIVE

News for You

India-US Interim Trade Deal Framework: Readjusted Tariff Effective Feb. 7 — Top 10 Things To Know

India-US Interim Trade Deal Framework: Readjusted Tariff Effective Feb. 7 — Top 10 Things To Know

Live TV
Apps
Social
Hello Reader
Sign In / Register
Set as Trusted Source
on Google Search