Get App
Download App Scanner
Scan to Download
Advertisement
LIVE UPDATES

Sensex Posts Longest Losing Streak In Six Months On Rupee Woes

Read Time: 1 min
Share
Sensex Posts Longest Losing Streak In Six Months On Rupee Woes
The Bombay Stock Exchange (BSE) building, background right, looms over a no-entry street sign in Mumbai. (Photographer: Vivek Prakash/Bloomberg)
7 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.2 percent to 11,565 as of 7:08 a.m.
Sep 05, 2018 15:49 (IST)
Link Copied
Share

Sep 05, 2018 09:55 (IST)
Link Copied
Share

  • Bandhan Bank has 98 lakh shares change hands in a single block. Stock up 1.8 percent at Rs 150.
  • Bharti Airtel has 15 lakh shares change hands in a block deal. Stock down 1 percent at Rs 374.40.
  • HDFC has 10.10 lakh shares change hands in a single block. Stock down 0.3 percent at Rs 1,948.85.
  • Bharat Electronics has 11.7 lakh shares change hands in a single block. Stock down 8 percent at Rs 100.45.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Sep 05, 2018 15:17 (IST)
Link Copied
Share

Sep 05, 2018 15:09 (IST)
Link Copied
Share

  • Muthoot Finance: The Koch-based non-banking finance company rose as much as 10 percent, the most in over a year, to Rs 440 after it reported strong June quarter earnings.
  • Texmo Pipes: The Madhya Pradesh-based PVC pipe maker rose as much as 16.2 percent to Rs 28 after it won order for HDPE pipes worth Rs 81.30 crore from Larsen & Toubro Limited.
  • Kirloskar Ferrous: The Pune-based iron and ferrous castings maker rose as much as 9.5 percent, the most in nearly five months, to Rs 100.50 after won rights for iron ore mining in Karnataka.
  • Mcnally Bharat: The Kolkata-based infrastructure construction company rose as much as 8.9 percent, the most in nearly two months, to Rs 40.40 after it received a construction order worth Rs 108 crore from NLC India.
Sep 05, 2018 14:13 (IST)
Link Copied
Share

Click here for more stock market statistics

Sep 05, 2018 13:38 (IST)
Link Copied
Share

Government official says power PSUs and banks will hold stake in asset reconstruction company under Pariwartan scheme.

  • Asset Reconstruction Company to keep stressed power assets for 4-5 years.
  • Process of registering ARCs has begun.
  • Power PSUs, bankers to be part of ARCs.
  • Pariwartan is for power projects without PPAs.
  • Pariwartan is meant to keep commissioned projects operational.

Source: Government official to BloombergQuint

Sep 05, 2018 13:13 (IST)
Link Copied
Share

A deteriorating EM risk backdrop and pressure on current account deficit currencies has led USD/INR to multi-year highs. We see risk of continued INR depreciation in the near term and enter a short-dated long USD/ INR call spread position, Nomura said in a research report.

Sep 05, 2018 13:07 (IST)
Link Copied
Share

Sep 05, 2018 12:59 (IST)
Link Copied
Share

Sep 05, 2018 12:47 (IST)
Link Copied
Share

  • Indian equity benchmarks extended decline after rupee depreciated to record low of 71.96 per dollar.
  • The Sensex fell 0.7 percent or 287 points to 37,868 and the Nifty 50 index declined 0.88 percent or 100 points to 11,418.
  • All 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Consumer Durables index's 2.5 percent drop.
  • Mid- and small-cap shares were underperforming larger peers as the S&P BSE MidCap index fell 1.5 percent and the S&P BSE SmallCap index tumbled 1.4 percent.
  • The overall market breadth was extremely negative as 1,875 shares were declining while 656 were advancing on the BSE.
Sep 05, 2018 12:41 (IST)
Link Copied
Share

Rupee Nears 72/$ As Global, Domestic Risks Build

Sep 05, 2018 11:59 (IST)
Link Copied
Share

Shares of the Mumbai-based airline fell as much as 3.2 percent to Rs 263 after Financial Times reported that Jet Airways has failed to pay salary to thousands of staff in August.

Sep 05, 2018 11:47 (IST)
Link Copied
Share

  • Thyrocare: The Mumbai-based diagnostic lab operator rose as much as 2.1 percent to Rs 694.80. Trading volume was 30 times its 20-day average.
  • Advanced Enzyme Technologies: The Mumbai-based specialty chemicals company rose as much as 11.2 percent to Rs 229.20. Trading volume was 18.3 times its 20-day average.
  • Alembic Pharma: The Vadodara-based drugmaker rose as much as 5.8 percent to Rs 638. Trading volume was 9 times its 20-day average.
  • Cyient: The Hyderabad-based IT services company rose as much as 6.3 percent to Rs 775. Trading volume was 6.7 times its 20-day average.
Sep 05, 2018 11:20 (IST)
Link Copied
Share

Click here to see the complete options chain

Sep 05, 2018 10:49 (IST)
Link Copied
Share

Sep 05, 2018 10:40 (IST)
Link Copied
Share

The Nikkei India services Purchasing Managers' Index, or PMI, fell to 51.9 in August from July’s 21-month high of 54.1, indicating slower rise.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

The slowdown was driven by the weakest growth in new work in 3 months, although business confidence rose to the highest level since May.

Source: Nikkei

Sep 05, 2018 10:28 (IST)
Link Copied
Share

Sep 05, 2018 10:24 (IST)
Link Copied
Share

Sep 05, 2018 10:06 (IST)
Link Copied
Share

Sep 05, 2018 09:51 (IST)
Link Copied
Share

Shares of the Delhi-based steel maker and power producer fell as much as 4.75 percent to Rs 14.20 after JSW Steel and its promoters acquired around 88 percent stake in the company following completion of the insolvency resolution proceedings, Monnet Ispat said in an exchange filing.

The National Company Law Tribunal (NCLT) had earlier approved a Rs 2,875-crore bid by a consortium of Aion Investments and JSW Steel to acquire the bankrupt Monnet Ispat & Energy, which owes over Rs 11,000 crore to a clutch of lenders.

The Aion-JSW consortium was the sole bidder for the 1.5-million-tonne asset in Chhattisgrah.

Sep 05, 2018 09:42 (IST)
Link Copied
Share

Shares of the Kochi-based non-banking finance company rose as much as 5.5 percent, the most in over a month, to Rs 422 after it beat Bloomberg consensus estimates in June quarter.

Key earnings highlights:

  • Interest income up 18 percent at Rs 1605.3 crore.
  • Net Profit up 43 percent (YoY) at Rs 492 crore versus Rs 458 crore.
  • Provisions down 79 percent at Rs 2.7 crore.
  • Gross loan assets up 11 percent at Rs 30,997 crore.
  • Gold loan outstanding up 10 percent at Rs 30,562 crore.

Sep 05, 2018 09:36 (IST)
Link Copied
Share

Shares of the Mumbai-based advanced pharmaceutical ingredients and generic drugmaker rose as much as 4.86 percent to Rs 404.95.

Sun Pharma Advanced Research Company (SPARC) will file new drug application for cancer drug Taclantis in the fourth quarter of current financial year, the company said in an exchange notification.

SPARC also released deadlines for FDA to review its two new drugs Xelpros and Elepsia in November 2018 and January 2019, respectively.

Sep 05, 2018 09:21 (IST)
Link Copied
Share

Sep 05, 2018 09:02 (IST)
Link Copied
Share

Sep 05, 2018 08:39 (IST)
Link Copied
Share

BloombergQuint spoke to Chandan Taparia, derivatives and technical analyst at Motilal Oswal and below are hist trading strategies for the day.

  • Buy HDFC with stop loss at Rs 1,920 for target price of Rs 1,990.
  • Buy HCL Technologies with stop loss at Rs 1,058 for target price of Rs 1,118.
  • Sell Escorts with stop loss at Rs 820 for target price of Rs 770.
  • Buy Nifty 11,500 strike price put option near Rs 100 with stop loss at Rs 75 for target price of Rs 150.

Sep 05, 2018 08:26 (IST)
Link Copied
Share

Nomura on Cochin Shipyard

  • Initiated ‘Buy’ with a price target of Rs 534, implying a potential upside of 28 percent from the last regular trade.
  • See strong medium-term visibility from defence orders and ship repair ramp-up.
  • Expect Revenue and operating income to grow at a compounded annual growth rate of 15 percent and 18 percent over FY18-21.
  • See an addressable defence opportunity worth Rs 1.15 lakh crore over next five years.
  • Expect Cochin to bag Rs 24,400 crore of orders extending revenue visibility well until March 2030.

HDFC Securities on HG Infra

  • Initiated ‘Buy’ with a price target of Rs 386, implying a potential upside of 61.5 percent from the last regular trade.
  • Further pickup in NHAI orders in the second half to address longevity concerns on earnings up-cycle.
  • Positives: healthy balance sheet, stable working capital cycle and entry into HAM.
  • Sub-contracting projects to boost margins.
  • Expect Order Book, revenue and net profit to grow at a compounded annual growth rate of 32 percent, 35 percent and 38 percent respectively over FY18-20.

Edelweiss on ITC

  • Upgraded to ‘Buy’ from ‘Hold’; raised price target to Rs 405 from Rs 328, implying a poterntial upside of 31 percent from the last regular trade.
  • Expect cyclical improvement in volume trajectory.
  • cigarette EBIT growth riding structural levers - limited cess hike & ban of e-cigarettes.
  • Believe ITC’s other businesses too are ripe for re-rating.

Credit Suisse on FMCG

  • Britannia: Downgraded to ‘Neutral’ from ‘Outperform’; raised price target to Rs 6,900 from Rs 6,000, implying a potential upside of 9 percent from the last regular trade.
  • HUL: Downgraded to ‘Neutral’ from ‘Outperform’; cut price target to Rs 1,770 from Rs 1,850, implying a potential upside of 7 percent from the last regular trade.
  • Last stock move has taken valuations to unprecedented territory.
  • Downgrade Britannia and HUL as there is no scope for earnings upgrades and see margin risks in the next financial year.
  • Prefer Dabur, Nestle and Colgate.

Deutsche Bank on Grasim Industries

  • Maintained ‘Buy’ with a price target of Rs 1430, implying a potential upside of 40 percent from the last regular trade.
  • Robust earnings growth outlook not yet discounted.
  • Expect margins to remain strong based on global demand-supply dynamics.
  • Volume growth should also improve substantially as VSF capacity is expanding.

Jefferies on GAIL (India)

  • Maintained ‘Buy’ with a price target of Rs 450, implying a potential upside of 25 percent from the last regular trade.
  • See robust earnings outlook with strong momentum in LPG/Petchem.
  • Winter may bring materially higher trading EBIT.
  • Most of the segments should fare better in coming quarters skewing EPS risks to the upside.

Citi on ICICI Bank

  • Maintained ‘Buy’ with a price target of Rs 390, implying a potential upside of 19 percent from the last regular trade.
  • Focusing on delivering growth in risk-adjusted operating profit.
  • Bank minimising exposure to riskier loans while aiming for 15 percent consolidated RoE by June 2020.
  • Believe that NPA recognition is in last leg and focus will shift to recoveries.

Macquarie on Graphite India

  • Maintained ‘Outperform’ with a price target of Rs 1,410, implying a potential upside of 41 percent from the last regular trade.
  • Needle coke market to remain tight and restrict GE supply.
  • Management confident it can pass on cost pressures.
  • Increasing comfort on longevity of current up-cycle and prudent capital allocation to re-rate stock.

CLSA on Media

  • Expect digital ad revenue to jump four times led by explosive growth of digital video.
  • Print ad share will be hit hard but TV ad revenue will continue to grow.
  • Zee Entertainment is set up for success in both TV and digital.

Sep 05, 2018 08:22 (IST)
Link Copied
Share

Who’s Meeting Whom
  • Prism Johnson to meet ARGA Investment Management on Sept. 5.
  • Voltas to meet Marshall Wace, Blackrock Advisors and other investors from Sept. 5-6.
  • Inox Leisure to meet ICICI Securities on Sept. 5.
  • Shriram City Union Finance to meet Dolat Capital Markets and Reliance MF from Sept. 5-7.
  • Finolex Industries to meet Edelweiss Asset Management and Reliance MF from Sept. 5-12.

Insider Trades

  • Maharashtra Seamless promoter acquired 1 lakh shares on Aug. 30.
  • Kitex Garments promoter Sabu Jacob sold 16,800 shares on Aug. 30.
  • Fairchem Speciality promoter and director Utkarsh Shah sold 45,000 shares on August 31.

(As reported on Sep. 4)

Sep 05, 2018 08:20 (IST)
Link Copied
Share

  • Nifty September Futures ended at 11,573.1, with a premium of 52.8 points versus 59.4 points.
  • September series: Nifty open interest up 0.3 percent; Bank Nifty open interest up 3.4 percent.
  • India VIX ended at 13.7, up 2.9 percent.
  • Max open interest for the September series call at 11,800 strike price call option (open interest at 41.6 lakh shares, open interest up 20 percent).
  • Max open interest for September series put at 11,500 strike price put option (open interest at 36.7 lakh shares, open interest up 17 percent).
Sep 05, 2018 07:53 (IST)
Link Copied
Share

Bulk Deals
  • MEP Infrastructure Developers: Promoter Sudha Dattatray Mhaiskar acquired 9.4 lakh shares or 0.51 percent equity at Rs 50.99 each.
  • JM Financial: Saif India Holdings acquired 53 lakh shares or 0.63 percent equity at Rs 121.96 apiece.

Dynamatic Technologies

  • Goldman Sachs India Limited sold 83,000 shares or 1.31 percent equity at Rs 1625.01 apiece.
  • Girish Gulati Huf acquired 83,000 shares or 1.31 percent equity at Rs 1625.04 apiece.

Trading Tweaks

  • TCS last trading day before start of buyback.
  • Adani Enterprises last trading day before demerger.
Sep 05, 2018 07:53 (IST)
Link Copied
Share

  • 10:30am: Nikkei India Services PMI for August, prior 54.2.
  • 10:30am: Nikkei India Composite PMI for August, prior 54.1.
  • 09/05-09/28: India 2Q BoP Current Account Balance, est. $17.0b deficit, prior $13.0b deficit.
Sep 05, 2018 07:39 (IST)
Link Copied
Share

  • HUDCO
  • SREI Infrastructure
  • Varroc Engineering
Sep 05, 2018 07:38 (IST)
Link Copied
Share

Muthoot Finance Q1 (Standalone, YoY)

  • Interest income up 18 percent at Rs 1605.3 crore.
  • Net Profit up 43 percent at Rs 492 crore.
  • Provisions down 79 percent at Rs 2.7 crore.
  • Gross loan assets up 11 percent at Rs 30,997 crore.
  • Gold loan outstanding up 10 percent at Rs 30,562 crore.

Sep 05, 2018 07:35 (IST)
Link Copied
Share

  • Sun Pharma Advanced Research Company (SPARC) released deadlines for FDA to review its two new drugs Xelpros and Elepsia in November 2018 and January 2019, respectively. The company also said that it will shift its research facility to Vadodara and file new drug application for cancer drug Taclantis in the fourth quarter of this financial year.
  • Qatar Airways CEO Akbar Ali Baker says he won’t rule out any future opportunity for investing in IndiGo. He also said that if the airline approached them, they gulf-based carrier will show interest. He added that Qatar Airways is open for partnership with a local partner who is credible and financially sound. (Press Trust of India)
  • LT Foods arm Nature Bio Foods secures equity funding of Rs 140 crores from Rabobank’s India Agri Business Fund II. This investment will facilitate further development of a retail consumer portfolio through the ‘EcoLife’ brand which offers rice, rice flour, staples, spices, nuts, etc.
  • Emami Infrastructure mulls modifying its Memorandum of Association by entering into manufacturing of crude drugs and raw materials, pharmaceutical preparations, aerated and mineral waters and similar other preparation. The annual general meeting is scheduled on September 27.
  • Jet Airways announces six-day global fare sales. The sale is effective till Sep. 7 and covers 2.5 million seats over its network. Will offer savings up to 30 percent on economy and premiere fares.
  • NBCC gets direction from National Green Tribunal to provide a report on the revival of the iconic Purana Qila lake in Delhi after a plea alleged that the project was being undertaken in a manner which would damage the environment. The plea said that the method of concretization and laying down of the sheets will lead to damage of the lake.
  • Texmo Pipes and Products received orders of HDPE Pipe worth Rs 81.30 crore from Larsen & Toubro. The execution period of the aforesaid order is nine months.
  • McNally Bharat Engineering received construction order worth Rs 108 crores from NLC India. The project will be undertaken in Odisha.
  • Hindustan Construction Company to consider fund raising via share sale. (Bloomberg)
  • Karnataka Bank to consider proposal for augmenting the capital by Tiers II. (Bloomberg)
Sep 05, 2018 07:24 (IST)
Link Copied
Share

Sep 05, 2018 07:12 (IST)
Link Copied
Share

Here are some key events coming up this week:

  • Australian GDP data for the second quarter comes out Wednesday.
  • Executives from Facebook, Twitter and Google on Wednesday testify on social media, Russia meddling.
  • The monthly U.S. employment report for August is due Friday.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email
Newsletter Preview

Videos

Watch
LIVE

News for You

'Skilling, Reskilling Workforce': PM Modi's Antidote To AI-Triggered Job Loss Fears

'Skilling, Reskilling Workforce': PM Modi's Antidote To AI-Triggered Job Loss Fears

Live TV
Apps
Social
Hello Reader
Sign In / Register
Set as Trusted Source
on Google Search