.jpg?downsize=1080:607 "Sensex, Nifty End On A Flat Note; Real Estate Shares Outperform")
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- Sobha Developers: The stock gained the most in over 5 months on the back of strong sales numbers for second quarter. The company achieved new sales volumes of 8.61 lakh sq feet valued at 675.1 crore with an average realization of Rs 7,840 per sq ft.
- Rain Industries: The stock rose for a fourth consecutive trading session after wll-known investor Dolly Khanna bought additional 0.77 percent stake in the company increasing her holding to 68,77,710 (2.04%), according to an exchange filing.
- Kirloskar Brothers: The stock gained the most since July 2016 and volumes were nearly 8.8 times its 20-day average after the government reduced tax rate under GST on pump parts from 28 percent to 18 percent.
- Goa Carbon: The stock was locked in a 5 percent upper circuit for fifth consecutive session after the company reported a 7.5 percent increase in calcined petroleum coke sales for the month of September.
- Affordable housing space looking attractive in real estate sector
- Like GAIL India, Petronet LNG and Mahanagar Gas from the gas distribution space
- Like City Union Bank and Federal Bank from south India-based banks
Shares of the Mumbai-based drugmaker rose as much as 8.25 percent, the most since October 4, to Rs 51.85 after the company received an Establishment Inspection Report (EIR) from the U.S. FDA for its Goa facility, the company said in an exchange filing.
The inspection was carried out from 3-7 April 2017.
- Nifty can go up to 10,200 levels before Diwali and short-term support for Nifty is at 9,85.
- Traders can by Sun TV for target price of Rs 840 with stop loss at Rs 770 and Chennai Petro for target of Rs 442 with stop loss at Rs 415.
- JBF Industries: The Mumbai-based textile manufacturer jumped as much as 14.4 percent, the most in over a year, to Rs 212.50. Trading volume was 17.4 times its 20-day average.
- SRF Ltd: The Gurgaon-based textile manufacturer jumped as much as 8.8 percent, the most in over a year, to Rs 1,717. Trading volume was 10.8 times its 20-day average.
- GHCL Ltd: the Noida-based chemical maker rose as much as 8.7 percent, the most in over a year, to Rs 228. Trading volume was 10.4 times its 20-day average.
- HSIL Ltd: The Gurgaon-based sanitary ware manufacturer jumped as much as 9.5 percent, the most in over six months, to Rs 428.80. Trading volume was 10.3 times its 20-day average.
Shares of the Hyderabad-based chemical maker jumped as much as 6.8 percent, the most since September 19, to Rs 192.8 after well-known investor Dolly Khanna raised her stake in the company to 2.04 percent, according to the data available on the BSE.
Dolly Khanna increased stake in the company from 42,68,092 shares (1.27 percent) to 68,77,710 (2.04 percent), according to September 2017 filing.
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Shares of the Gurgaon-based food processor rose as much as 3.37 percent, the most since September 29, to Rs 66 after the company launched premium rice based snacks under the brand name KARI KARI.
Shares of the Delhi-based leather apparel exporter jumped as much as 3.65 percent, the most since October 5, to Rs 622.35 after the company won an order for supplying leather to U.S.-based Coach Inc, the company said in an exchange notification.
Dhruvesh Sanghvi On Page Industries
- Inner wear market has size of Rs 20,000 crore and Page Industries is doing Rs 2,000 crore business
- Growth will remain above 20 percent
Ashish Chaturmohta On Page Industries
- Pure discretionary play and it can go up to Rs 24,000
MAS Financial Services' Rs 460 crore IPO was subscribed 197.05 percent as of 11:00 a.m. on day 2 of subscription.
- Retail portion was subscribed 282.84 percent
- QIB portion was subscribed 179.59 percent
- Non-institutional investor portion was subscribed at 28.2 percent
- Source: Company PR
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Shares of the jewelery retailers like Tribhovandas Bhimji Zaveri, Titan Company, Gitanjali Gems, Thangamayil Jewellery and PC Jeweller jumped up to 5 percent after the government on Friday relaxed norms for buying gold jewellery above Rs 50,000.
Finance Minister Arun Jaitley on Friday said that people buying jewellery above Rs 50,000 will not be required to mention their PAN or Aadhaar details.
Shares of the Mumbai based active pharmaceutical ingredient maker fell as much as 15.65 percent, the most in over two years, to Rs 328 after its drug to treat spasticity due to multiple sclerosis- Baclofen GRS failed to meet statistical significance.
Shares of the Bangalore-based real estate developer jumped as much as 8.7 percent, the most in over four months, to Rs 425.90 after it sold 8,61,084 square feet of real estate valued at Rs 675.1 crore at an average realisation price of Rs 7,840 per square feet.
The sales volume was up 5.6 percent compared to previous quarter, the company said in an exchange notification on Friday.
Meanwhile, foreign brokerage CLSA in a note said Sobha Q2FY18 pre-sales at 10-quarter high. Sobha’s steady execution and good project portfolio helped to perform well during tough transition times. Expect pre-sales to do well for the next few quarters.
- Indian benchmark indices rebounded after opening lower led by gains in ICICI Bank, Tata Motors and Tata Steel
- NSE Nifty 50 Index reclaimed its crucial psychological level of 10,000 and the S&P BSE Sensex rose as much as 0.3 percent
- From the Nifty 50 basket of shares, 32 were trading higher while 18 were among the laggards
- The broader markets were outperforming the benchmarks with S&P BSE MidCap Index advancing 0.4 percent and the S&P BSE SmallCap Index rising 0.5 percent
Shares of the Mumbai-based entertainment channel rose as much as 2.2 percent, the most since September 18, to Rs 533 after it acquired 100 percent stake in two media entities 9X Media and INX Music for Rs 160 crore, the company said in an exchange notification post market hours on Friday.
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The bull run in India's sovereign bonds is losing steam as rising inflation and the risk of a wider fiscal deficit have clouded the outlook for Asia's highest yielding securities. This seems to be the broad investor view with institutions like HSBC and Emkay Global Financial Services expecting a further rise in the benchmark yields. The yield on the 10-year note is already up 24 basis points so far this year. Also, with risk of a higher inflation number, the RBI too has little room to reduce rates further.
For the day, buying may resume after three straight sessions of sell-off though the overall sentiment remains weak. A range of 6.74-6.78 percent is likely.
In the currency market, Asians are trading stronger against the greenback as the dollar index declined. China opens after a holiday week but with Korea, Taiwan, Japan and the US closed today, the market may see less action. Rupee may stay in a range of 65.25-65.45 a dollar in the session.
- Not a stellar kind of Diwali but demand is reasonably robust
- Rupee appreciation could have an impact in the longer term
- Cotton prices have moderated due to global bumper crop
- GST challenge is more due to compliance issues
- Major challenge for industry is a stronger rupee
We stay overweight on sectors like metals, energy and IT, says Credit Suisse's Neelkanth Mishra. pic.twitter.com/JEwrHjE2rS
— BloombergQuint (@BloombergQuint) October 9, 2017
Here's a quick look at corporate insider trades on Friday.https://t.co/xAEndlF4lk pic.twitter.com/MPAohvmGY2
— BloombergQuint (@BloombergQuint) October 9, 2017
Back to the onion futures, India, writes @davidfickling. https://t.co/FnG1LzO555 pic.twitter.com/FWDUSW8lVz
— BloombergQuint (@BloombergQuint) October 9, 2017
India’s record year for initial public offerings so far hasn’t made the companies richer.https://t.co/Exvz6peZ24 pic.twitter.com/i5CisnSy3J
— BloombergQuint (@BloombergQuint) October 9, 2017
Morgan Stanley's 5 big ideas for the next decade of Indian economy.https://t.co/ENO3OXx7Du pic.twitter.com/6YuqDRhmJd
— BloombergQuint (@BloombergQuint) October 8, 2017
For a complete list of stocks to watch click here
Kingfisher Probe: Officials, directors under lens for violations.https://t.co/9mb8AlGHDL pic.twitter.com/LaK3I4q5Hc
— BloombergQuint (@BloombergQuint) October 9, 2017
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