RIL, HDFC Help Nifty To Close At Record High

Indian equity benchmark NSE Nifty 50 extended gains for the second consecutive trading session and closed at a record high.

The 50-stock index rose 0.82 percent to end at an all-time high at 12,282.95. The S&P BSE Sensex rose 0.78 percent to close at 41,626.64. The broader markets represented by the NSE Nifty 500 Index rose 0.92 percent.

The market breadth was tilted in favour of buyers. About 1,337 stocks advanced and 462 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Metal Index’s 2.6 percent gain. On the flip side, the NSE Nifty IT Index was the only sectoral loser, down 0.08 percent.

Shares of Marico fell as much as 2.8 percent, the most since Nov. 26, 2019, to Rs 336.10 on company’s update for December quarter.

Marico says:

• Category growths across personal care remained under pressure.
• Foods and allied categories fared slightly better.
• The company continued to consolidate market share.
• Traditional channels stayed weak.
• Channel partners continued to face liquidity challenges.
• Continued to see soft demand environment.
• Growth in Modern Trade and ECommerce also slowed down.
• Saffola Oils and Foods saw double-digit volume growth.
• Coconut Oil, Hair Oils and other portfolios saw a marginal decline.
• Operating margins improve owing to lower input costs.
• Expect green shoots of recovery in December quarter.
• To see gradual revival in sentiment.
• Growth expected on good monsoons, government measures.

Source: Exchange filing

MOIL

• Stock rose as much as 8.5 percent to Rs 158.80.
• Trading volume was more than 20 times its 50-day average.

Ajanta Pharma

• Stock rose as much as 0.6 percent to Rs 984.
• Trading volume was almost 20 times its 50-day average.

Elgi Equipment

• Stock rose as much as 9.7 percent to Rs 284.
• Trading volume was almost 17 times its 50-day average.

Cholamandalam Financial Holdings

• Stock rose as much as 2.6 percent to Rs 516.
• Trading volume was more than 15 times its 50-day average.

About 10.5 lakh shares of Infosys changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

TVS Motor Company sold 2,31,571 units last month a fall of nearly 15 percent from December 2018, the Chennai-based company said in a stock exchange filing.

Key sales highlights (YoY)

• Two-wheeler sales fell 16.7 percent to 2,15,619 units.
• Domestic two-wheeler sales fell 25.1 percent to 1,57,244 lakh units.
• Motorcycle sales fell 12.6 percent to 93,697 units.
• Scooter sales fell 18.3 percent to 74,716 units.
• Three-wheeler sales rose 26 percent to 15,952 units.
• Two-wheeler exports rose 20 percent to 58,375 units.
• Overall exports rose 22 percent to 73,512 units.

Shares of TVS Motor fell as much as 2.7 percent to Rs 456 after the announcement.

Sterlite Tech

• Stock rose as much s 8.6 percent to Rs 128.40.
• Awarded multi-year deal worth Rs. 1800 crore from government of Telangana

Tata Motors

• Stock rose as much as 5.6 percent to Rs 194.70.
• Top gainer on the Nifty after reporting better than estimated sales numbers in December.

Hindustan Copper

• Shares extended gains for the third consecutive trading session. The stock hit an upper circuit of 20 percent at Rs 48.50.
• Copper prices gain for a sixth consecutive week.

SAIL

• Stock rose as much as 10.7 percent to Rs 47.50.
• December sales jumped 47 percent to 1.68 million tonnes, according to a Bloomberg report.

Shares of Dishman Carbogen Amcis extended declines for the third consecutive trading session. The stock fell as much as 9.5 percent to hit an all-time low at Rs 71.10.

The stock fell 17 percent in three days. The scrip traded at 5.3 times its estimated earnings per share for the coming year, according to Bloomberg data.

Shares of PNB Housing Finance extended gains for the third consecutive trading session and rose as much as 12.1 percent, the most since Oct. 25, to Rs 499.

The non-banking arm of state-run lender Punjab National Bank has met its interest payment commitments on non-convertible debentures due on Dec. 31, 2019, according to an exchange filing on that day.

Trading volume was more than eight times its 20-day average, Bloomberg data showed.

Shares of Hindustan Copper extended gains for the third consecutive trading session. The stock hit an upper circuit of 20 percent at Rs 48.50.

Arun Kumar Shukla, director of operations at the company has assumed charge of the post of chairman and managing director, on Jan. 1, according to its stock exchange notification on Jan. 1.

“Santosh Sharma ceased to be CMD and Shri Sanjay Kumar Bhattacharya ceased to be Director of Mining on attaining the age of superannuation on Dec. 31, 2019,” the statement added.

About 10.9 lakh shares of Bharat Heavy Electricals Ltd. changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of Motilal Oswal extended gains for the second consecutive trading session. The stock rose as much as 4.5 percent to trade at 16-month high at Rs 855.90.

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 2.2 percent gain. On the flipside, the NSE Nifty IT Index was only sectoral loser, down 0.06 percent.

Shares of Bosch India fluctuated between gains and losses to trade little changed at 15,264.10.

“The plans to join its parent, Robert Bosch GmbH in cutting jobs as the South Asian nation witnesses one of its worst auto sales slowdowns in decades,” according to Bloomberg report.

“The German company will cut a couple of thousand jobs in India in the next four years. About 10 percent of 3,700 white-collar jobs and a slightly higher percentage of 6,300 blue-collar jobs will be cut, he added in an interview in Bangalore on Dec. 30,” Bloomberg reported quoting India Managing Director Soumitra Bhattacharya.

Indian equity benchmarks extended opening gains to trade at day’s high.

The S&P BSE Sensex rose 0.62 percent to 41,560 and the NSE Nifty 50 rose 0.64 percent to 12,260. The broader markets represented by the NSE Nifty 500 Index rose 0.7 percent.

Eicher Motors Ltd.’s Royal Enfield sales declined 13 percent to 50,416 units compared to December 2018, according to its exchange filing.

Key Sales Highlights (YoY):

• Models with engine capacity upto 350cc fell 11 percent to 47,788 units.
• Models with engine capacity over 350cc fell 41 percent to 2,628 units.
• Total exports fell 13 percent to 1,927 units.

Shares of the Royal Enfield parent fell as much as 1.9 percent to Rs 21,642.55.

Ashok Leyland’s sales fell 28 percent year-on-year to 11,168 units in December, according to its stock exchange filing.

Key Sales Highlights (YoY)

• Domestic medium and heavy commercial truck sales fell 59 percent to 3,809 units.
• Domestic medium and heavy commercial bus sales rose 85 percent to 2,560 units.
• Total domestic medium and heavy commercial vehicle sales declined 40 percent to 6,369 units.
• Domestic light commercial vehicle sales fell 2 percent to 4,009 units.
• Total domestic vehicle sales fell 29 percent to 10,378 units.

Sales Including Exports (YoY)

• Total medium and heavy commercial truck sales fell 59 percent to 3,958 units.
• Total medium and heavy commercial bus sales rose 87 percent to 3,067 units.
• Total medium and heavy commercial vehicle sales fell 38 percent to 7,025 units.
• Total light commercial vehicle sales fell 1 percent to 4,143 units.
• Shares of the truck and bus maker rose as much as 1.7 percent to Rs 82.40 after the announcement.

Tata sons moves Supreme Court against the NCLAT’s Cyrus Mistry’s Reinstatement order, Bloomberg reported.

Shares of Sterlite Technologies pared losses and rose as much as 5.4 percent to Rs 124.60.

The company won multi-year order from T-Fiber valued at Rs 1,800 crore, according to its statement on the exchanges.

The stock returned 7.9 percent in the past five days and fell 2.9 percent in the past 30 days, Bloomberg data showed.

Shares of the cement makers advanced, led by the rally in Prism Johnson Ltd. Sanghi Industries Ltd. and Orient Cement Ltd.

Most media shares declined in today’s trade, led by the fall in Sun TV Network Ltd. and Zee Entertainment Enterprises Ltd.

That comes after the Telecom Regulatory Authority of India, in its latest tariff order that was posted on its website today, has increased the number of free-to-air channels, reduced pricing for pay channels and capped the number of bouquets of pay channels offered by broadcasters. (Read more here)

Shares of Bajaj Auto erased opening gains and fell as much as 0.7 percent to Rs 3,129.15 after the company announced its December sales data.

The company's total sales fell 3 percent year-on-year to 3,36,055 vehicles last month, according to its stock exchange filing.

Key Sales Highlights (YoY)

• Domestic motorcycle sales fell 21 percent to 1,24,125 units.
• Motorcycle exports rose 13 percent to 1,60,677 units.
• Total motorcycle sales fell 5 percent 2,84,802 units.
• Domestic commercial vehicles sales rose 26 percent to 29,038 units.
• Commercial vehicles’ exports fell 8 percent to 22,215 units.
• Total commercial vehicle sales rose 8 percent to 51,253 units.
• Total domestic sales fell 15 percent to 1,53,163 units.
• Total exports rose 10 percent to 1,82,892 units.

Catch all the December auto sales updates here.

Shares of Gujarat Narmada Valley Fertilizers & Chemicals fell as much as 4.4 percent to Rs 155.

The company received a demand notice from Telecom Department directing the company to deposit Rs 15,020 crore before Jan. 23 in connection with V-SAT and ISP Licenses held by the company.

Trading volume was more than 12 times its 20-day average, Bloomberg data showed. The Relative Strength Index was below 30, indicating that the stock may be oversold.

Shares of Sangam India fell as much as 1 percent to Rs 63.20.

About 47 lakh shares of the company changed hands in two large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Trading volume was 10,119 times its 20-day average, according to Bloomberg data. Of the shares traded 35 percent were at the ask price and 64 percent were at the bid.

Shares of Indiabulls Real Estate extended gains for the third consecutive trading session. The stock rose as much as 9.7 percent to Rs 78.85.

Trading volume was 12 times its 20-day average, Bloomberg data showed. Of the shares traded, 40 percent were at the ask price and 48 percent were at the bid.

The Relative Strength Index was above 70, indicating that the stock may be overbought. The scrip advanced 30 percent in the past five days and surged 19 percent in the past 30 days.

Indian equity benchmarks opened higher extending gains for the second consecutive trading session.

The S&P BSE Sensex rose 0.25 percent to 41,407 and the NSE Nifty 50 rose 0.27 percent to 12,215. The broader markets represented by the NSE Nifty 500 Index rose 0.25 percent.

The market breadth was tilted in favour of buyers. About 931 stocks advanced and 506 shares declined on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 1 percent advance. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 1 percent.

Index Futures

• Nifty January futures closed at 12,243.8, premium of 61.3 points versus 77.8 points.
• Nifty January futures open interest down 2 percent, sheds 2.4 lakh shares in open interest.
• Nifty Bank January futures closed at 32,285, premium of 182 points versus 204.4 points.
• Nifty Bank January futures open interest down 0.4 percent, sheds 53,000 shares in open interest.

Options

• Nifty PCR at 1.14 versus 1.12 (across all series)

Nifty Monthly Expiry: Jan. 2

• Max open interest on call side at 12,300 (34.8 lakh shares).
• Max open interest on put side at 12,100 (20.6 lakh shares).
• Open interest addition seen at 12,150P (+6 lakh shares), 12,100P (+5.6 lakh shares), 12,250C (+3.6 lakh shares).

Nifty Monthly Expiry: Jan. 30

• Max open interest on call side at 12,500 (23.2 lakh shares).
• Max open interest on put side at 12,000 (35.4 lakh shares).

• JK Tyres promoters sold 50,000 shares on Dec. 30.

• Arrow Textiles, Navkar Builders, Hindusthan National Glass & Industries, Max Ventures and Industries , Tejas Networks to move out of short term ASM Framework.
• AksharChem, Den Networks, Indiabulls Ventures to move into short term ASM Framework.
• Shree Renuka Sugars to move into Surveillance Measure in respect of high promoter pledge.
• Future Enterprises, Gayatri Projects, Sequent Scientific to move out of Surveillance Measure in respect of high promoter pledge.
• Dwarikesh Sugar, Dalmia Bharat Sugar price band revised to 10 percent.

• Route Mobile gets Securities and Exchange Board of India’s approval for Rs 600-crore initial public offering, according to Bloomberg report.

The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.08 percent to 71.28 against the greenback.

Indian equity benchmarks are set to open lower.

The S&P BSE Sensex traded little changed at 41,300 during the pre-market and the NSE Nifty 50 fell 0.17 percent to 12,161.40.

Eicher Motors

• VECV Sales fell 19.1 percent to 5042 units.

Tata Motors

• Domestic sales fell 12 percent to 44,254 units.
• Passenger vehicles sales declined 10 percent to 12,785 units.
• Commercial vehicles sales fell 15 percent to 34,082 units.

Catch all the updates here.

• Gujarat Narmada Valley Fertilizers & Chemicals received a demand notice from Telecom Department directing the company to deposit Rs 15,020 crore before Jan. 23 in connection with V-SAT and ISP Licenses held by the company.
• Muthoot Capital Services completed securitisation transaction of Rs 145.37 crore on Dec. 31. The Company has so far raised funds of Rs 578.81 crore through securitisation/direct assignment transactions during the fiscal year 2020.
• Prakash Industries secured long term coal linkages of 1.69 lakh metric tonnes per annum for the next five years for its 6th Sponge Iron Kiln. The total long-term Coal Linkages now stand at 17.04 lakh tonnes per annum. These linkages will result in substantial cost savings in Sponge Iron production at its Integrated Steel Plant at Champa, Chhattisgarh.
• Asian Granito said that the Goods and Services Tax department conducted a search at the company’s registered office and plant offices on Dec. 31. The search operations were regarding the reversal of GST input tax credit of Rs 48 lakh for goods purchased from a vendor.
• Sintex Industries: Punjab National Bank filed for initiating insolvency proceedings against the company for Rs 1,077.62 crore. The company said in a statement that it has cumulatively defaulted on payments of Rs 2,007 crore in loans, including facilities like cash credit from banks and financial institutions. The total financial indebtedness of the company stands at Rs 6,774.9 crore and total outstanding due from banks and financial institutions stand at Rs 6,101.54 crore.
• Lemon Tree Hotels signed a license agreement for a 40 room Hotel in Dehradun.
• SAIL: December sales jumped 47 percent to 1.68 million tonnes, according to a Bloomberg report.
• Abans Enterprises completed the 100 percent acquisition in LifeSurge BioSciences.
• Future Retail will consider raising funds on Jan. 4.
• Care Ratings: LT Mutual Fund increased stake from 4.8 percent to 5.18 percent.
• Bharat Gears promoters Ultra Consultants increased stake from 8.23 percent to 15.16 percent on Dec. 30.

• India’s first exchange-traded corporate bond—Bharat Bond ETF—controlled by the government to start trading.
• Markit India Manufacturing PMI for December to be released.
• Automakers to report their monthly sales data for December.

• Most equity markets across the globe were shut on Jan. 1 for New Year.
• Futures on the S&P 500 Index rose 0.1 percent in Hong Kong.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,249 as of 8:35 a.m.

Stocks in Asia were mixed and U.S. equity futures nudged higher as investors assessed the latest policy move by China’s central bank.

Activity is picking up as most global markets reopen from holiday closures, though Japanese equities remain shut for the remainder of this week.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.