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Sensex, Nifty Post Third Weekly Loss Amid Setback For Ruling BJP

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Sensex, Nifty Post Third Weekly Loss Amid Setback For Ruling BJP
An Electronic Ticker Board Indicates the Closing Figures of the BSE Sensex at the Bombay Stock Exchange (Photographer: Prashanth Vishwanathan/Bloomberg)
8 years ago
This week's rally in Asian stocks petered out on Friday as weak volumes in the U.S. session overnight gave little impetus for traders ahead of next week's Federal Reserve meeting. The dollar held on to gains.
Mar 16, 2018 15:41 (IST)
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Mar 16, 2018 14:32 (IST)
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Mar 16, 2018 15:28 (IST)
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Shares of the Hyderabad-based construction company rose as much as 4.57 percent, the most since March 13, to Rs 205 after it won road construction project worth Rs 940 crore in Jammu & Kashmir.

Mar 16, 2018 14:51 (IST)
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Mar 16, 2018 14:43 (IST)
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Shares of the Noida-based chemical maker rose as much as 5.95 percent to Rs 284.90 after 29.4 lakh shares change hands in a block deal.

Mar 16, 2018 13:49 (IST)
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Shares of the Chandigarh-based steel wheel rim maker rose as much as 3.45 percent to Rs 1,070 after it won a repeat order from European Union for 1,30,000 caravan wheels, SSWL said in an exchange filing.

The wheels will be shipped from its manufacturing unit in Chennai.

Mar 16, 2018 13:36 (IST)
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Shares of the Jaipur based maker of metal and lead products rose as much as 6.2 percent to Rs 185 after it won orders worth Rs 300 crore for supplying pure lead and lead bullion from Kyen Resources, Singapore.

Mar 16, 2018 13:02 (IST)
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Mar 16, 2018 13:01 (IST)
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  • ITDC: The government-owned tourism service provider rose as much as 17 percent to Rs 526.80. Trading volume was 78.6 times its 20-day average.
  • Procter & Gamble: The Mumbai-based personal and beauty care products maker fell 0.98 percent to Rs 9,356.20. Trading volume was 11.5 times its 20-day average.
  • Navneet Education: The Mumbai-based book publisher rose as much as 17 percent to Rs 161.45. Trading volume was 9 times its 20-day average.
  • TV Today Network: The Delhi-based news broadcaster rose as much as 9 percent to record high of Rs 558. Trading volume was 14.7 times its 20-day average.
Mar 16, 2018 12:37 (IST)
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Mar 16, 2018 12:36 (IST)
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Mar 16, 2018 12:19 (IST)
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Mar 16, 2018 11:52 (IST)
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Mar 16, 2018 11:38 (IST)
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Shares of the Pune-based technology firm rose as much as 2.57 percent to Rs 949 after it extended strategic partnership with Microsoft in South Africa for Global Systems Integrator market, Zensar said in a press release.

Mar 16, 2018 11:34 (IST)
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Mar 16, 2018 11:03 (IST)
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Mar 16, 2018 10:54 (IST)
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Shares of the Ahmedabad-based electricity transmission company rose as much as 2.45 percent to Rs 188 after it acquired 100 percent stake in Fatehgarh-Bhadla Transmission special purpose vehicle (SPV) from PFC Consulting.

Mar 16, 2018 10:17 (IST)
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Mar 16, 2018 10:13 (IST)
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Mar 16, 2018 09:56 (IST)
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Shares of the Delhi-based diversified financial services company fell as much as 5 percent, the most since Feb. 28, to Rs 55.25 after Edelweiss Financial Services called off deal to acquire Religare's securities business after Religare failed to obtain the requisite clearances within the agreed timeline, Edelweiss said in an exchange filing.

Mar 16, 2018 09:50 (IST)
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Shares of the Hyderabad-based drug maker rose as much as 5 percent to Rs 738 after HDFC Securities initiated coverage on the stock with a 'buy' for target price of Rs 1,065.

The brokerage in a note said:

  • Neuland likely to report a strong recovery in the next fiscal.
  • Expect 19 percent compounded growth rate in revenue and 800 basis point margin expansion and seven times earnings over the fiscal 2018-2020.
  • Growth driven by volumes in niche API and CMS business segments.
  • CMS and niche segment likely to contributed more than 55 percent of top line in the financial year-ending March 2020.
  • CMS - At inflection point; Business to grow at 16 percent compounded growth rate over the fiscal 2018-2020.
  • Niche APIs – low volume, quality products.
  • Expect surprise launches in CMS segment which has not been factored in.
  • Return ratios to recover fully by March 2020.
  • Current price offers an attractive opportunity for investors to entry.

Mar 16, 2018 09:39 (IST)
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Mar 16, 2018 09:30 (IST)
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Mar 16, 2018 09:18 (IST)
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Mar 16, 2018 08:16 (IST)
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Mar 16, 2018 08:42 (IST)
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Mar 16, 2018 07:55 (IST)
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Mar 16, 2018 07:35 (IST)
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Citi on Dish TV

  • Maintained ‘Buy’ with price target of Rs 90.
  • Merger effective around March 22.
  • New shares to commence trading early April.
  • Videocon will then put out time-table for its ADS holders.
  • Possible promoter transactions in focus.
  • Stock is attractively priced post the underperformance.
  • Target price assumes no synergy benefits.

Deutsche Bank on Power Finance Corp

  • Maintained ‘Buy’; cut price target to Rs 140 from Rs 160.
  • Stress from private sector likely.
  • Rs 17,000 crore of private assets poses risk of NPL classification and likely haircuts.
  • Management does not expect elevated haircuts from probable NCLT accounts.
  • Management guides 10 percent loan growth in the next fiscal.
  • Management says spreads/NIMs will be softer.
  • Adjusted price-to-book value post haircut will be 0.6 times, which is comforting.

Edelweiss on Berger Paints

  • Maintained ‘Buy’ with price target of Rs 293.
  • Remain positive on Berger .
  • Expect revival in volume growth as paint penetration is low.
  • Positive correlation between sector volumes and GDP growth..
  • Prudent portfolio premiumisation and innovation to spur gross margins
  • Expect revenue, operating income and net profit to compound at 16 percent, 19 percent and 20 percent respectively over the fiscal 2017-2020.

Kotak on Kaveri Seeds

  • Maintained ‘Sell’; cut price target to Rs 470 from Rs 535.
  • Cut in cap on Bt cotton seed prices by Rs 60 per packet to impact profitability.
  • Expect realisation to decline by Rs 20 per packet.
  • Concerns remain on further cuts in coming years.
  • Cut EPS estimates by 12-16 percent for FY19-20.
  • Retain negative stance given high dependence on Bt cotton seeds.

JPMorgan on Hindalco Industries

  • Maintained ‘Overweight’ with price target of Rs 335.
  • YTD stock price correction driven by aluminum price fall and worries about U.S. Section 232 impact.
  • Upstream impact minimal; Stock not pricing in even current LME prices.
  • Expect cost pressures to moderate as coal supplies have picked up.
  • See upside risks to India aluminum forecasts.
  • Novelis - Steady state EBITDA profile remains intact.
  • Hindalco to deliver Rs 20-25 per share as free cash flow.
  • Expect re-rating as downstream portfolio continues to grow.
  • Stock price correction versus steady business outlook is an opportunity to add.

HDFC Securities on Neuland Labs

  • Initiated ‘Buy’ with a price target of Rs 1,065.
  • Neuland likely to report a strong recovery in the next fiscal.
  • Expect 19 percent compounded growth rate in revenue and 800 basis point margin expansion and seven times earnings over the fiscal 2018-2020.
  • Growth driven by volumes in niche API and CMS business segments.
  • CMS and niche segment likely to contributed more than 55 percent of top line in the financial year-ending March 2020.
  • CMS - At inflection point; Business to grow at 16 percent compounded growth rate over the fiscal 2018-2020.
  • Niche APIs – low volume, quality products.
  • Expect surprise launches in CMS segment which has not been factored in.
  • Return ratios to recover fully by March 2020.
  • Current price offers an attractive opportunity for investors to entry.

Mar 16, 2018 07:31 (IST)
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Mar 16, 2018 07:28 (IST)
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  • Yes Bank sells 1.12 crore shares or 2.17 percent stake in Fortis Healthcare on March 15.
  • Bharat Financial Inclusion completes third securitization transaction in FY18 for Rs 451 crore.
  • NCLT approves Brigade Enterprises’ scheme of arrangement.
  • Future Consumer Signs 50:50 joint venture pact with Bin Ablan Group.
  • Puravankara unit to invest Rs 500 crore for Goa Housing Project.
  • SpiceJet to shift 22 domestic flights to Delhi International Terminal 2.
  • Wipro invests $2.02 million to acquire 20 percent stake in Avaamo Inc.
  • IDFC Bank’s board approves scheme of amalgamation with Capital First.
  • Adani Transmission acquires 100 percent stake in Fatehgarh-Bhadla Transmission SPV from PFC Consulting.
  • PFC sais that Rs 17,000 crore or about 6 percent of loans of private power assets poses risk of NPL classification and likely haircuts (Concall).
Mar 16, 2018 07:27 (IST)
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Mar 16, 2018 07:27 (IST)
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Mar 16, 2018 07:24 (IST)
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  • KPR Mill buy back period from March 16- April 2.
  • Future Market Networks circuit filter revised to 10 percent.
Mar 16, 2018 07:22 (IST)
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JP Associates

  • Rare Enterprises buys 3 crore shares at Rs 18.37 per share.

Jaypee Infratech

  • Indusind Bank Client Account sells 1.3 crore shares at Rs 10.12 per share.

Arvind

  • Nordea Fund sells 24.7 lakh shares at Rs 400.03 per share.

Indian Hotels

  • Tata Sons buys 7.9 crore shares at Rs 130.4 per share; Ratan Tata Trust, Dorabji Tata Trust and Tata Memorial Trust were among the sellers.

Bajaj Electricals

  • Bajaj Trading Company sells 25.4 lakh shares at Rs 625 per share.
  • Rahulkumar Bajaj buys 12.7 lakh shares at Rs 625 per share.

Mar 16, 2018 07:09 (IST)
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Mar 16, 2018 07:05 (IST)
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Mar 16, 2018 06:54 (IST)
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