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Sensex, Nifty Resume Rally After One-Day Blip

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Sensex, Nifty Resume Rally After One-Day Blip
Elevators travel next to electronic boards displaying stock figures at the National Stock Exchange of India. (Photographer: Dhiraj Singh/Bloomberg)
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India rose 0.48 percent to 10,605 as of 6:21 a.m.
Apr 19, 2018 15:34 (IST)
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Apr 19, 2018 07:15 (IST)
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Apr 19, 2018 15:23 (IST)
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Apr 19, 2018 15:16 (IST)
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Apr 19, 2018 15:07 (IST)
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Shares of liquor makers staged an up move led by sharp surge in Radico Khaitan.

  • Radico Khaitan up 8 percent
  • GM Breweries up 1.4 percent
  • Som Distilleries up 2.72 percent
  • Globus Spirits up 3.47 percent
  • Pincon Spirit up 5 percent
  • Pioneer Distilleries up 1.90 percent

Apr 19, 2018 14:57 (IST)
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Apr 19, 2018 14:47 (IST)
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  • Hindalco: The Mumbai-based aluminium and copper producer rose as much as 9.97 percent, the most in 23 months, to Rs 266.40 after aluminium prices hit multi year high in international markets.
  • Phoenix Mills: The Mumbai-based real estate company rose as much as 6.55 percent to Rs 643.40 after Motilal Oswal initiated coverage on the stock with a buy for target price of Rs 732.
  • Vascon Engineers: The Pune-based real estate developer rose as much as 4.7 percent to Rs 34.80 after it won orders amounting to Rs 119 crore.
  • UltraTech Cement: The Mumbai-based cement maker rose as much as 4.17 percent to Rs 4,159 after it commissioned greenfield clinker capacity of 2.5 million tonnes per annum at Dhar in Madhya Pradesh.
Apr 19, 2018 12:19 (IST)
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Shares of the country's largest IT company rose as much as 1. percent to Rs 3,217.20 ahead of its March quarter earnings.

Below are Bloomberg consensus estimates for March quarter earnings:

  • Dollar revenue seen up 2.3 percent at $4,896 million versus $4,787 million
  • Total income seen up 2.4 percent at Rs 31,660 crore versus Rs 30,904 crore
  • EBIT seen up 3.6 percent at Rs 8,063 crore versus Rs 7,781 crore
  • EBIT margins seen at 25.5 percent versus 25.2 percent
  • Profit seen up 4.3 percent at Rs 6,810 crore versus Rs 6,531 crore

Apr 19, 2018 13:00 (IST)
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  • ICICI Bank has 34.2 lakh shares change hands in a single block. Stock down 0.14 percent at Rs 289.65.
  • Axis Bank has another 17.5 lakh shares change hands in a single block. Stock down 1.34 percent at Rs 511.
  • Axis Bank has 20 lakh shares change hands in a block. Stock down 1.2 percent at Rs 509.10.
  • Aditya Birla Fashion and Retail has 20 lakh shares change hands in a block. Stock up 0.2 percent at Rs 148.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Apr 19, 2018 15:01 (IST)
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Apr 19, 2018 13:54 (IST)
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Ramesh Sobti, MD and CEO of IndusInd Bank, in a press conference after reporting March quarter earnings said:

  • Q4 PAT growth came in at 27 percent despite the fact that industry suffered mark-to-market losses on bonds.
  • Trading income fell 56 percent
  • Interest margin remained stable
  • Raised MCLR by 40 basis points
  • Credit growth came in at 28 percent, saw solid growth in vehicle finance business
  • QoQ disbursements for vehicle finance rose 12 percent (QoQ); 47 percent (YoY)
  • MHCV finance disbursements grew 22 percent (QoQ); 67 percent (YoY)
  • Have classified a diamond trader's account as fraud
  • On track to open 2,000 branches
  • Client base grew at 11 million
  • Credit cost flat at 62 basis points (YoY)
  • Targeting customer base of 20 million

Apr 19, 2018 13:40 (IST)
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Shares of the Mumbai-based private sector lender fell 1.6 percent to Rs 1,814 after it reported divergence in NPAs to the tune of Rs 1,350 crore in March quarter. The bank met Bloomberg consensus estimates in the recently concluded quarter.

Key earnings highlights:

  • Net interest income (NII) up 20.4 percent at Rs 2,007.6 crore versus Rs 1,667.4 crore (YoY)
  • Net profit up 26.8 percent at Rs 953.09 crore versus Rs 751.61 crore (YoY); Bloomberg estimate of Rs 964 crore
  • Divergence in Gross nin-performing assets (NPA) at Rs 1,350 crore
  • Gross NPAs as a percentage of total advances at 1.17 percent versus 1.16 percent (QoQ); 0.93 percent (YoY)
  • Net NPAs as a percentage of total advances at 0.51 percent versus 0.46 percent (QoQ); 0.39 percent (YoY)
  • Provisions at Rs 335.5 crore versus Rs 236.1 crore (QoQ); Rs 430 crore (YoY)

Apr 19, 2018 13:24 (IST)
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  • Merck: The Mumbai-based drug maker rose as much as 20 percent to record high of Rs 1,812. Trading volume was 105.2 times its 20-day average.
  • Hindustan Copper: The Kolkata-based copper producer rose as much as 14.29 percent to Rs 81.60. Trading volume was 12.4 times its 20-day average.
  • Coffee Day Enterprises: The Bangalore-based cafe chain operator rose as much as 7.4 percent to Rs 326.75. Trading volume was 10.4 times its 20-day average.
  • Take Solutions: The Chennai-based IT company rose as much as 10.6 percent to record high of Rs 215.80. Trading volume was 7.5 times its 20-day average.
Apr 19, 2018 13:42 (IST)
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Apr 19, 2018 12:38 (IST)
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Apr 19, 2018 12:28 (IST)
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Apr 19, 2018 12:22 (IST)
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  • Two-judge National Company Law Appellate Tribunal panel directs hearing on Binani Cement insolvency case to continue in National Company Law Tribunal.
  • Appellate tribunal defers hearing on Binani Industries’ appeal against decision of lenders to choose Dalmia’s offer to May 9.

    • Source: Bloomberg

Apr 19, 2018 12:24 (IST)
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Apr 19, 2018 11:44 (IST)
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Shares of the Kolkata-based carbon black maker were locked in a 5 percent upper circuit at Rs 236.95 after it went ex-stock split in ratio of 5 shares to one.

Apr 19, 2018 11:30 (IST)
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  • Hathway Cable and Datacom has 1.9 crore shares or 2.3 percent equity change hands in a block on BSE. Stock up 4.3 percent at Rs 42.40.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Apr 19, 2018 11:27 (IST)
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Shares of the Hyderabad-based defence equipment maker rose as much as 4.25 percent to record high of Rs 421.90 after it signed an agreement with Defence Research Development Organisation (DRDO) for Astra MK-1 Weapon System.

Apr 19, 2018 11:07 (IST)
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Apr 19, 2018 11:01 (IST)
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Shares of the state-run oil retailers fell after Brent Crude price rose above $74 a barrel, its highest level since May 2015.

Higher crude oil prices lead to lower margins for oil retailers.

  • Indian Oil fell 3.6 percent
  • Bharat Petroleum declined 4.91 percent
  • Hindustan Petroleum fell 4.97 percent

Apr 19, 2018 10:36 (IST)
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Shares of the Mumbai-based real estate company rose as much as 6.55 percent to Rs 643.40 after Motilal Oswal initiated coverage on the stock with a buy for target price of Rs 732.

Motilal Oswal in a note said:

  • See huge growth opportunity in India’s retail industry.
  • Expect revenue/EBITDA/net profit to grow at a CAGR of 15 percent/16 percent/37 percent respectively over FY18-20.
  • Expect strong cash flows from operations going forward.

Apr 19, 2018 10:27 (IST)
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Apr 19, 2018 10:08 (IST)
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Shares of the Mumbai-based dairy products maker rose as much as 3.6 percent to Rs 282.95 after it acquired Danone India's manufacturing facility of curd, yogurt and other related products near Delhi, the company said in an exchange filing.

The acquisition will help expand its footprint in North India, the exchange filing added.

Apr 19, 2018 09:56 (IST)
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Apr 19, 2018 09:46 (IST)
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Apr 19, 2018 09:41 (IST)
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Shares of the Ahmedabad-based hospital operator rose as much as 3.4 percent to Rs 232.80 after Elara Capital initiated 'buy' on the stock with a target price of Rs 275.

Elara Capital in a note said:

  • Best placed to capture the orthopedic care treatment opportunity.
  • Asset-light operating model with better cost structure.
  • New hospitals to start contributing; Mature hospitals to contribute the most.
  • Expect revenue and operating income to compound at 27 percent and 25 percent respectively over the fiscal 2018-2020.
  • EPS to double to Rs 7.4 by March 2020; RoCE to improve by 200 basis points over the fiscal 2018-2020.
  • With zero net debt company in sweet spot to explore inorganic opportunities.

Apr 19, 2018 09:37 (IST)
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Shares of the Delhi-based hospital chain operator rose as much as 2.87 percent after Hero Enterprises led by Sunil Kant Munjal and Burman family revised offer for Fortis Healthcare.

Munjals and Burmans have offered to invest Rs 1,500 crore directly into Fortis.

Apr 19, 2018 09:32 (IST)
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Shares of the Mumbai-based cement maker rose as much as 2.96 percent to Rs 1,620 after it beat consensus Bloomberg estimates in the first quarter.

Key earnings highlights:

  • Net sales rose 15 percent to Rs 3,557 crore versus estimate of Rs 3,508 crore
  • EBITDA rose 18 percent to Rs 491 crore versus estimate of Rs 380 crore
  • Net profit advanced 15.8 percent to Rs 245.1 crore versus estimate of Rs 189 crore
  • ACC said increased government spending on infrastructure is expected to reinvigorate the construction sector and boost demand for cement and concrete during 2018

Apr 19, 2018 09:19 (IST)
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Apr 19, 2018 09:05 (IST)
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Apr 19, 2018 08:54 (IST)
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Apr 19, 2018 08:21 (IST)
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Apr 19, 2018 07:38 (IST)
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Apr 19, 2018 07:26 (IST)
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Elara Capital on Shalby

  • Initiated ‘Buy’ with a price target of Rs 275.
  • Best placed to capture the orthopedic care treatment opportunity.
  • Asset-light operating model with better cost structure.
  • New hospitals to start contributing; Mature hospitals to contribute the most.
  • Expect revenue and operating income to compound at 27 percent and 25 percent respectively over the fiscal 2018-2020.
  • EPS to double to Rs 7.4 by March 2020; RoCE to improve by 200 basis points over the fiscal 2018-2020.
  • With zero net debt company in sweet spot to explore inorganic opportunities.

Citi on Adani Ports

  • Maintained ‘Buy’ with a price target of Rs 575.
  • Healthy volume growth to continue.
  • Cash flows are improving.
  • Capex to decline over next 2-3 years.
  • Top-pick in India infrastructure.

Citi on InterGlobe Aviation

  • Maintained ‘Buy’ with TP of Rs 1,600.
  • Domestic passenger air traffic growth unabated.
  • Marginal decline in IndiGo's market share due to forced grounding.
  • Expect improvement in market share going forward.

Prabhudas Lilladher on Mindtree

  • Maintained ‘Accumulate’; raised price target to Rs 930 from Rs 685.
  • March quarter was strong; Revenue and Ebitda beat estimates.
  • Current fiscal’s full year margin guidance remains conservative.
  • Preponing of wage hikes is positive; Indicates robust revenue growth outlook.
  • Mindtree is likely to grow twice the pace of TCS in the current financial year.

MOSL on Mindtree

  • Maintained ‘Buy’; raised price target to Rs 1,000 from Rs 725.
  • March quarter’s revenue beat estimates despite BFSI weakness.
  • Strong exit to an overall subdued year.
  • Strong revenue momentum to offset lower other income and higher tax rate.
  • Expect $ Revenue and earnings to compound at 14 percent and 29 percent over the fiscal 2018-2020.

Prabhudas Lilladher on HDFC Standard Life

  • Maintained ‘Buy’; raised price target to Rs 518 from Rs 500.
  • Positive surprise on new business margins.
  • APE growth was quite robust compared to peers.
  • Margins to improve as share of protection increases and ULIP mix remains the same.

MOSL on HDFC Standard Life

  • Maintained ‘Buy’ with a price target of Rs 475.
  • March quarter was a steady quarter; Business momentum remains strong.
  • Return ratios remain steady; Dividend payout healthy at 30 percent.
  • Expect 26 percent compounded growth rate in new business APE over the fiscal 2018-2020.
  • Valuations to sustain at premium levels.

Apr 19, 2018 07:07 (IST)
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  • IndusInd Bank
  • TCS
  • Reliance Power
Apr 19, 2018 07:03 (IST)
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ACC Q1CY18 (YoY)

  • Net sales up 14.4 percent at Rs 3,556.9 crore versus Rs 3,108.1 crore
  • EBITDA up 17.9 percent at Rs 491 crore versus Rs 416.1 crore
  • EBITDA margin at 13.8 percent versus 13.4 percent
  • PAT up 15.8 percent at Rs 245.1 crore versus Rs 211.5 crore

Mindtree Q4 (QoQ)

  • Revenue up 6 percent at Rs 1,464 crore versus Rs 1,378 crore
  • Net profit up 29 percent at Rs 182 crore versus Rs 141.5 crore
  • EBIT up 19 percent at Rs 197 crore versus Rs 166 crore
  • Margin at 13.5 percent versus 12 percent

HDFC Standard Life Insurance Q4 (YoY)

  • Net premium income up 24 percent at Rs 8,900 crore versus Rs 7,178 crore
  • Net profit up 40 profit at Rs 347crore versus Rs 247 crore
  • Loss from Investment at Rs 937 crore versus income of Rs 4,866 crore

Apr 19, 2018 06:57 (IST)
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Apr 19, 2018 06:51 (IST)
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Apr 19, 2018 06:46 (IST)
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DCB Bank

  • Abu Dhabi Investment Authority bought 21 lakh shares or 0.7 percent equity at Rs 198.18 each.

GSS Infotech

  • Elara India Opportunities Fund bought 6.50 lakh shares or 3.8 percent equity at Rs 74 each.
  • Nomura Singapore bought 5 lakh shares or 3 percent equity at Rs 74 each.

Huhtamaki PPL

  • Promoter Huhtavefa B.V bought 5.50 lakh shares or 0.7 percent equity at Rs 353.55 each.
  • Amar Chhajed sold 5.50 lakh shares or 0.7 percent equity at Rs 353.55 each.

Teamlease Services

  • Kotak India Mid-Cap Fund bought 5.82 lakh shares or 3.4 percent equity at Rs 2,210 each.
  • Gaja Capital India Fund I sold 1.07 lakh shares or 0.6 percent equity at Rs 2,210 each.
  • GPE (India) sold 5.75 lakh shares or 3.4 percent equity at Rs 2,210 each.

Tata Sponge Iron

  • AJO Emerging Markets Small-Cap Master Fund sold 81,844 shares or 0.5 percent equity at Rs 1,148.41 each.

Trading Tweaks

  • Phillips Carbon Black ex-date for 5:1 stock split.
  • Foods & Inns ex-date for 10:1 stock split.
  • Sequent Scientific last trading day under T group.

Apr 19, 2018 06:39 (IST)
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Modi's Trying to Put a Stop to India's Endless Election Cycle

Apr 19, 2018 06:24 (IST)
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