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Sensex, Nifty Halt Five-Day Rally

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Sensex, Nifty Halt Five-Day Rally
The Bombay Stock Exchange (BSE) building, left, looms over a no-entry street sign in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg)
7 years ago
Catch all the live updates of share prices, index moves, corporate announcements and more from Indian equity markets. 
Jan 22, 2019 15:44 (IST)
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Jan 22, 2019 14:53 (IST)
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Shares of the Bengaluru-based medical devices maker rose as much as 7.57 percent to Rs 9.95 after its board of directors approved allotment of 1.31 crore shares at Rs 15 per share on preferential basis to non-promoters, Opto Circuits said in an exchange filing.

Jan 22, 2019 14:36 (IST)
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Asian Paints Ltd.’s profit rose 15 percent on a yearly basis to Rs 636 crore during October-December period, according to its stock exchange filing.

Key earnings highlights (Q3, YoY)

  • Revenue up 24 percent at Rs 5,294 crore.
  • Net profit up 14.6 percent at Rs 636 crore.
  • Ebitda up 17 percent at Rs 1,043 crore.
  • Margin at 19.7 percent versus 20.9 percent.
  • Shares of Asian Paints fell as much as 3.1 percent to Rs 1,378 after the results announcement.

Jan 22, 2019 13:51 (IST)
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Shares of the Vadodara-based drugmaker rose as much as 4 percent to Rs 614 after its profit rose 30 percent in December quarter.

Key earnings highlights:

  • Revenue up 21 percent at Rs 1,018 crore versus Rs 840 crore (YoY)
  • Net profit up 30 percent at Rs 170 crore versus Rs 131 crore (YoY)

Jan 22, 2019 13:30 (IST)
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Shares of the Kolkata-based cement maker came off intraday low levels after its profit surpassed Bloomberg estimates in December quarter.

Key earnings highlights:

  • Revenue up 19 percent at Rs 2,781 crore versus Rs 2,303 crore. (YoY)
  • Net profit declines 10 percent to Rs 300 crore versus estimate of Rs 232 crore.
  • Announces dividend of Rs 25 per share.
  • EBITDA up 25 percent at Rs 710 crore versus Rs 570 crore (YoY)

Jan 22, 2019 13:22 (IST)
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Shares of the Noida-based electrical wires and switchgear maker declined 0.5 percent to Rs 674 after its profit met Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Net profit at Rs 196 crore versus estimate of Rs 193 crore.
  • Revenue at Rs 2,520 crore versus estimate of Rs 2,260 crore.
  • EBITDA up 12.4 percent at Rs 295 crore versus Rs 262 crore (YoY)

Jan 22, 2019 13:17 (IST)
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Shares of the Chennai-based two- and three-wheeler maker recovered from intraday low levels and rose as much as 2.55 percent to Rs 552 after its profit beat Bloomberg consensus estimates in December quarter.

Key earnings highlights:

  • Revenue rose 26 percent to Rs 4,664 crore versus Rs 3,699 crore (YoY); Estimate of Rs 4,550 crore.
  • Net profit rose 15.57 percent to Rs 178.39 crore versus estimate of Rs 169 crore.

Jan 22, 2019 12:49 (IST)
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Shares of the Anil Ambani-led company traded 0.4 percent lower at Rs 13.05 after National Companies Law Appellate Tribunal deferred pleas by Ericsson and HSBC to Feb. 25.

Jan 22, 2019 12:25 (IST)
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  • GE T&D: The Noida-based power transmission equipment maker fell as much as 2.34 percent to Rs 300.95. Trading volume was more than 20 times its 20-day average.
  • Finolex Cables: The Pune-based telecom and electrical cable maker fell as much as 1.78 percent to Rs 431.25. Trading volume was 13 times its 20-day average.
  • Sundram Fasteners: The Chennai-based nuts and bolts maker fell as much as 1.27 percent to Rs 515. Trading volume was 12 times its 20-day average.
  • Sun Pharma Advanced Research: The Mumbai-based advanced pharmaceutical ingredients maker rose as much as 7 percent to Rs 187. Trading volume was nine times its 20-day average.
Jan 22, 2019 11:54 (IST)
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Jan 22, 2019 11:51 (IST)
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Shares of the Mumbai-based paint maker declined as much as 1.1 percent to Rs 1,406 ahead of December quarter earnings.

Here's what to expect from Asian Paints in December quarter (Bloomberg median estimates):

  • Revenue seen rising 14.7 percent to Rs 4,886 crore versus Rs 4,260.5 crore (YoY)
  • EBITDA seen advancing 9.4 percent to Rs 975 crore versus Rs 891.5 crore (YoY)
  • Margin seen at 20 percent versus 20.9 percent (YoY)
  • Net profit seen climbing 11.5 percent to Rs 619 crore versus Rs 555 crore (YoY)

Jan 22, 2019 11:41 (IST)
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Jan 22, 2019 11:18 (IST)
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Shares of the Secunderabad-based fertilizers and pesticides maker fell as much as 6.59 percent to Rs 411.15 after its profit declined in December quarter.

Key earnings highlights:

  • Revenue up 11.5 percent at Rs 3,049.5 crore.
  • Net profit down 14.5 percent at Rs 154.3 crore.
  • Ebitda down 7.2 percent at Rs 303.9 crore.
  • Margin at 10 percent versus 12 percent.
  • Other Expenses up 51 percent at Rs 245.7 crore.

Jan 22, 2019 11:13 (IST)
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Local Indian airlines carried 13.9 crore passengers between January-December 2018, DGCA data showed.

  • IndiGo's December market share at 43.2 percent
  • Jet Airways December market share at 13.9 percent
  • Air India December market share at 12.4 percent
  • SpiceJet December market share at 12.3 percent

Jan 22, 2019 11:02 (IST)
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Shares of the Raigad-based alloy steel maker rose as much as 2.54 percent to Rs 499 after National Companies Law Tribunal (NCLT) approved resolution plan for acquisition of United Seamless Tabulaar Private Limited under the Corporate Insolvency Resolution Process, Maharashtra Seamless said in an exchange filing.

Jan 22, 2019 10:49 (IST)
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Jan 22, 2019 10:22 (IST)
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Sun Pharma Takes Steps To Allay Corporate Governance Issues

Jan 22, 2019 10:17 (IST)
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Shares of the Pune-based software developer fell as much as 6 percent, the most in nearly two months, to Rs 219.80 after its profit declined in December quarter.

Key earnings highlights:

  • Dollar Revenue up 4 percent at $143.7 million.
  • Revenue up 6.9 percent at Rs 1,035.6 crore.
  • Net profit down 40.8 percent at Rs 55.3 crore.
  • EBIT down 16.6 percent at Rs 75.8 crore,
  • Margin at 7.3 percent versus 9.4 percent.
  • Other income of Rs 41.3 crore in base quarter.

Jan 22, 2019 10:06 (IST)
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Jan 22, 2019 09:51 (IST)
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Shares of Just Dial extended gains for the second day and rose as much as 3.4 percent to Rs 490.45.

The company’s profit jumped 100.3 percent on a yearly basis to Rs 57.3 crore during October-December period, according to its stock exchange filing.

Key earnings highlights (Q3, YoY)

  • Revenue up 15.2 percent at Rs 226.8 crore.
  • Net profit up 2 times at Rs 57.3 crore.
  • Ebitda up 18.7 percent at Rs 55.2 crore.
  • Margin at 24.3 percent versus 23.6 percent.
  • Other income of Rs 34.1 crore.

Here’s what Macquarie had to say after the company announced its quarterly results:

  • Maintained ‘Neutral’ with a price target of Rs 500.
  • December quarter’s performance mixed with improved top-line growth but lower than expected operating margin.
  • Huge jump in other income led to net profit doubling.
  • Paid campaigns see impressive traction; realisations were flat on a sequential basis.

Jan 22, 2019 09:44 (IST)
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Shares of Page Industries declined for the sixth day fell as much as 3.9 percent to Rs 22,055.

About 1.7 lakh shares or 1.5 percent equity of the company changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.

Trading volume was almost seven times its 20-day average, according to Bloomberg data. The stock advanced 4.1 percent in the past 12 months compared to a 3 percent advance in the Sensex.

Jan 22, 2019 09:44 (IST)
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Jan 22, 2019 09:29 (IST)
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Jan 22, 2019 09:22 (IST)
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Jan 22, 2019 09:09 (IST)
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Jan 22, 2019 09:01 (IST)
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BQEdge | India’s Most Recommended Bank Stock Has A Speed Bump Ahead

Jan 22, 2019 08:59 (IST)
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Jan 22, 2019 08:59 (IST)
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F&O Cues
  • Nifty January futures closed trading at 10902, premium of 60 points.
  • Max open interest for January series at 11,000 call (open interest at 32.6 lakh shares.
  • Max open interest for January series at 10,700 put (open interest at 36.3 lakh shares)

Stocks In F&O Ban

  • Adani Power
  • Jet Airways

Put-Call Ratio

  • Nifty PCR at 1.59 versus 1.56.
  • Nifty Bank PCR at 1.18 versus 1.14.
Jan 22, 2019 08:56 (IST)
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On Kotak Mahindra Bank

CLSA

  • Maintained ‘Buy’ with a price target of Rs 1,500.
  • Stronger CASA franchise aids bank’s earnings.
  • Asset quality trends were stable along with improved coverage.
  • Believe the bank can deliver healthy 21 percent earnings CAGR over FY18-21.

Macquarie

  • Maintained ‘Outperform’; hiked price target to Rs 1,450 from Rs 1,325.
  • In-line numbers and a stable quarter; sound balance sheet.
  • Key Highlights: stable asset quality and CASA ratio, decent loan growth and improving margins.
  • Loan growth driven by CVs, personal loans and corporate banking.

Edelweiss

  • Maintained ‘Buy’; hiked price target to Rs 1,446 from Rs 1,413.
  • Growth momentum sustains; visibility improves.
  • Asset quality steady despite uncertainties.
  • Liability franchise continues to impress, best among peers.

On Union Bank

CLSA

  • Maintained ‘Buy’ with a price target of Rs 105.
  • Slippage stays elevated due to stress in corporate and SME portfolios.
  • Slower loan growth will help preserve capital and CASA franchise.
  • Earnings to normalise from 2019-20 onwards.

Edelweiss

  • Maintained ‘Hold’; cut price target to Rs 90 from Rs 110.
  • Business momentum continues to be soft.
  • Asset quality steady, outlook cautious.
  • Believe dilution risks and structural challenges would persists.

On Hindustan Zinc

Macquarie

  • Maintained ‘Underperform’; cut price target to Rs 230 from Rs 240.
  • December quarter was in line, but project delays suggest lower volume growth
  • Commodity prices to remain unfavourable.
  • Premium valuations difficult to justify given attractive alternates.

Edelweiss

  • Maintained ‘Buy’ with a price target of Rs 312.
  • Performance in line; volume uptick imminent.
  • Dividend yield of 7 percent looks sustainable.
  • Likely to hit mined metal capacity of 1.2 MTPA by September.

More Calls

Macquarie on Nestle

  • Initiated ‘Outperform’ with a price target of Rs 12,994.
  • Best way to play packaged goods space.
  • Market-share wins in core categories have led to strong volume growth.
  • Premium valuations to sustain on strong earnings, ROE.

CLSA on Ashok Leyland

  • Maintained ‘Sell’; cut price target to Rs 75 from Rs 85.
  • Truck industry likely to enter into a downturn after five years of up-cycle.
  • New axle load norms hurting industry mix too; scrappage policy unlikely.
  • Competition likely to intensify; Stock expensive for a looming downturn.

Motilal Oswal on MRPL

  • Upgraded to ‘Buy’ from ‘Neutral’; maintained price target at Rs 86.
  • Expect better refining margins.
  • Upgraded to ‘Buy’ on higher margins and attractive valuations.
  • Post expansion, MRPL’s GRMs to be at a premium of $2-3/bbl over Singapore complex GRM.

Macquarie on Just Dial

  • Maintained ‘Neutral’ with a price target of Rs 500.
  • December quarter’s performance mixed with improved top-line growth but lower than expected operating margin.
  • Huge jump in other income led to net profit doubling.
  • Paid campaigns see impressive traction; realisations were flat on a sequential basis.
Jan 22, 2019 08:56 (IST)
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  • KG Denim, IOC buyback period opens till Feb. 4.
  • Excel Industries price band revised to 5 percent.
Jan 22, 2019 08:56 (IST)
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  • Xelpmoc Design to sell shares at Rs 62-66 each in IPO starting Jan 23.
Jan 22, 2019 08:56 (IST)
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  • EID Parry: Ardhya Investors sold 9.83 lakh shares or 0.56 percent equity at Rs 200.09 each.
Jan 22, 2019 08:56 (IST)
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Earnings Reaction To Watch

HDFC AMC (Q3,YoY)

  • Revenue up 2 percent at Rs 477.1 crore.
  • Net profit up 24.7 percent at Rs 243.3 crore.
  • EBIT up 21.3 percent at Rs 312.5 crore.
  • Margin at 65.5 percent versus 55.1 percent
  • Other Income up 2.1 times at Rs 55.9 crore.
  • Total AUM up 12 percent at Rs 3,29,100 crore (QoQ)
  • Actively Managed Equity AUM up 4 percent at Rs 1,53,500 crore (QoQ)

Zensar Technologies (Q3, QoQ)

  • Dollar Revenue up 4 percent at $143.7 million.
  • Revenue up 6.9 percent at Rs 1,035.6 crore.
  • Net profit down 40.8 percent at Rs 55.3 crore.
  • EBIT down 16.6 percent at Rs 75.8 crore,
  • Margin at 7.3 percent versus 9.4 percent.
  • Other Income of Rs 41.3 crore in base quarter.

L&T Finance Holdings (Q3 Consolidated, YoY)

  • Net interest income up 55.1 percent at Rs 503.4 crore.
  • Net profit up 80.8 percent at Rs 579.9 crore.
  • Other Income of Rs 272.4crore
  • NIMs plus fees at 6.79 percent versus 5.62 percent.
  • Lending business book up 23 percent at Rs 93,708 crore.

Coromandel International (Q3 Consolidated, YoY)

  • Revenue up 11.5 percent at Rs 3,049.5 crore.
  • Net profit down 14.5 percent at Rs 154.3 crore.
  • Ebitda down 7.2 percent at Rs 303.9 crore.
  • Margin at 10 percent versus 12 percent.
  • Other Expenses up 51 percent at Rs 245.7 crore.

IRB Invit Fund (Q3, YoY)

  • Revenue up 2 percent at Rs 306.2 crore.
  • Net profit down 18.6 percent at Rs 52.2 crore.
  • Ebitda down 10.7 percent at Rs 87.2 crore.
  • Margin at 28.5 percent versus 32.5 percent.
  • Project management expenses up 80 percent at Rs 34.8 crore.
  • Trust declares distribution of Rs 3.1 per unit held.

Bhageria Industries (Q3, YoY)

  • Revenue up 23.6 percent at Rs 112 crore.
  • Net profit up 7.1 percent at Rs 15.1 crore.
  • Ebitda flat at Rs 25.7 crore.
  • Margin at 22.9 percent versus 28.7 percent.
  • Raw materials as percent of sales at 64 percent versus 54 percent.
  • Declares dividend of Rs 3.75 per share

Pondy Oxides & Chemicals (Q3, YoY)

  • Revenue up 7.2 percent at Rs 255.2 crore.
  • Net profit up 40 percent at Rs 11.2 crore.
  • Ebitda up 30.3 percent at Rs 20.2 crore.
  • Margin at 7.9 percent versus 6.5 percent

Sundaram Finance Holdings (Q3, YoY)

  • Revenue up 80.4 percent at Rs 25.8 crore.
  • Net profit up 54.5 percent at Rs 17.3 crore.

Sasken Technologies (Q3, QoQ)

  • Revenue up 7.3 percent at Rs 121.4 crore.
  • Net profit up 7.1 percent at Rs 18.1 crore.
  • EBIT down 6 percent at Rs 11 crore.
  • Margin at 9.1 percent versus 10.3 percent
  • Revenue from top five consumers at 52.2 percent.

Just Dial (Q3, YoY)

  • Revenue up 15.2 percent at Rs 226.8 crore.
  • Net profit up 2 times at Rs 57.3 crore.
  • Ebitda up 18.7 percent at Rs 55.2 crore.
  • Margin at 24.3 percent versus 23.6 percent.
  • Other income of Rs 34.1 crore.

Jan 22, 2019 08:51 (IST)
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Jan 22, 2019 08:51 (IST)
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  • Earnings season is in full swing: Johnson & Johnson, IBM, UBS, United Technologies, Texas Instruments, and Ford are among companies posting results this week.
  • The World Economic Forum, the annual gathering of global leaders in politics, business and culture, opens in Davos, Switzerland on Tuesday.
  • There are monetary-policy decisions for the Bank of Japan (Wednesday), the Bank of Korea and the European Central Bank (both Thursday).
Jan 22, 2019 08:49 (IST)
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  • West Texas Intermediate crude climbed 0.2 percent to $53.90 a barrel.
  • Brent declined after a two-day rally, down 0.75 percent to $62.27 per barrel.
  • Gold fell 0.1 percent to $1,280.31 an ounce.

    • London Metal Exchange

    • Aluminium ended 0.96 percent lower.
    • Tin ended lower for the second day, up 0.12 percent.
    • Nickel ended 0.17 percent lower.
    • Copper halted a four-day rally, down 1.17 percent.
    • Lead ended higher for the second day, up 0.75 percent.
    • Zinc ended higher for the fourth day, up 0.31 percent.
Jan 22, 2019 07:56 (IST)
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Jan 22, 2019 07:39 (IST)
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