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Sensex, Nifty End Lower For Second Day

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Sensex, Nifty End Lower For Second Day
Pedestrians walk past the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
7 years ago
Catch all the live updates of share prices, index moves, corporate announcements and more from Indian equity markets. 
Feb 27, 2019 15:40 (IST)
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Feb 27, 2019 15:22 (IST)
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Feb 27, 2019 15:20 (IST)
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Rain Industries

  • Stock fell as much as 10 percent to Rs 97.65.
  • Trading volume was more than triple its 20-day average.

Bharat Dynamics

  • Stock rose as much as 17.2 percent to Rs 294.80.
  • Trading volume was almost 13 times its 20-day average.

Merck

  • Stock rose as much as 16.9 percent to Rs 3,400.
  • Trading volume was almost 10 times its 20-day average.

Feb 27, 2019 15:05 (IST)
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Rain Industries swung to loss during the three months ended December.

Key Earnings Highlights (Q4, CY18 YoY)

  • Revenue up 9.5 percent to Rs 3444 crore.
  • Net loss at Rs 139.1 crore versus net profit of Rs 307.2 crore.
  • Ebitda down 82.3 percent to Rs 117.9 crore.
  • Margin at 3.4 percent versus 21.9 percent.
  • Other Expenses up 39 percent to Rs 906.6 crore.
  • Raw materials as percent of sales to 51 percent versus 42 percent.

Feb 27, 2019 14:25 (IST)
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Feb 27, 2019 14:05 (IST)
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Shares of Max India halted a six-day gaining streak and declined as much as 8 percent to Rs 75.80.

Max India approved the divestment of entire stake of 51 percent in Max Bupa Health Insurance to True North Fund for Rs 511 crore, according to its exchange filing. The proposed transaction, subject to regulator and shareholder approvals, has valued Max Bupa at an enterprise value of Rs 1,001 crore.

The stock is trading 37 percent below the Bloomberg consensus one-year target price.

Feb 27, 2019 14:02 (IST)
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Feb 27, 2019 13:46 (IST)
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Feb 27, 2019 13:16 (IST)
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Feb 27, 2019 12:40 (IST)
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Dolat Capital Market’s Head of Equities and Research, Amit Khurana said that he does not expect a major downside in the markets based on the current situation amid tensions between India and Pakistan.

“Based on the positioning for the market that we are at present, we don't see a major downside situation for the markets. These are just just momentary reactions to the news flow. There is not too much of a cause to worry,” Khurana told BloombergQuint in an interaction.

Khurana advised investors not to make very aggressive allocations and suggests investors wait and watch on how the situations turn out.

Feb 27, 2019 12:09 (IST)
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Feb 27, 2019 12:05 (IST)
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Feb 27, 2019 11:32 (IST)
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Feb 27, 2019 11:27 (IST)
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Feb 27, 2019 11:22 (IST)
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Feb 27, 2019 11:06 (IST)
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Nifty’s 11,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract fell 229.75 percent to Rs 19.95. Over 58,500 lakh shares were added to the open interest which stood at over 43.64 lakh shares.

Feb 27, 2019 10:28 (IST)
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Feb 27, 2019 09:59 (IST)
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About 18 lakh shares of Gujarat Pipavav changed hands in a single block, Bloomberg data showed. Buyers and sellers were not known immediately.

Feb 27, 2019 09:41 (IST)
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Feb 27, 2019 09:29 (IST)
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Feb 27, 2019 09:21 (IST)
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Feb 27, 2019 09:05 (IST)
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Feb 27, 2019 08:40 (IST)
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BQEdge | Is Grasim’s Stock Gearing Up For Short-Term Rally?

Feb 27, 2019 08:36 (IST)
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Feb 27, 2019 08:02 (IST)
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F&O Cues
  • Nifty February futures closed trading at 10828, discount of 7 points.
  • Max open interest for Feb. 28 series at 11,000 Call, open interest at 43 lakh shares.
  • Max open interest for Feb. 28 series at 10,400 Put, open interest at 29.2 lakh shares.

Stocks In F&O Ban

In Ban:

  • Adani Enterprises
  • Adani Power
  • IDBI Bank
  • Jet Airways
  • Reliance Power

Out of Ban:

  • Allahabad Bank

Put-Call Ratio

  • Nifty PCR at 1.4 versus 1.46.
  • Bank Nifty PCR at 1.18 versus 1.37.
Feb 27, 2019 08:02 (IST)
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Credit Suisse on Wipro

  • Downgraded to ‘Underperform’ from ‘Neutral’; cut price target to Rs 320 from Rs 370.
  • Recent rally captures margin improvement story; Margins to remain a bit of volatile.
  • Slowest growing IT company for the last ten years.
  • Wipro deserves to trade at reasonable discount to peers given slower growth and lower margins.

Motilal Oswal on Sanofi India

  • Maintained ‘Buy’; hiked price target to Rs 7,000 from Rs 6,850.
  • Revenue blip a function of high base; traction in key therapies intact.
  • Secondary sales reflect strong outperformance in anti-diabetic portfolio.
  • Remain positive on the back of volume-led better-than-industry growth.

HSBC on Kajaria

  • Maintained ‘Buy’; hiked price target to Rs 630 from Rs 600.
  • Market share gains to continue as unorganised players face liquidity issues.
  • Expect strong performance to continue.
  • Softer gas prices should be a tailwind on margins from March quarter.

Edelweiss on Jindal Steel and Power

  • Maintained ‘Buy’ with a price target of Rs 200.
  • Spotted clear difference in the operating environment in Angul plant.
  • Cost efficiencies likely to result in savings of up to Rs 2,000 per tonne in 2019-20.
  • Expect JSPL to fare better than peers on the back of volume growth.

Deutsche Bank Research on TVS Motor

  • Upgraded to ‘Hold’ from ‘Sell’; cut price target to Rs 455 from Rs 485.
  • Upgrade rating on underperformance; Cut EPS estimates to factor change in accounting standards.
  • Believe TVS is approaching a sweet spot which could lead to margin expansion.
  • Stronger market share is the key to margin expansion.

Deutsche Bank on Cement Makers

  • Ramco Cements: Upgraded to ‘Buy’ from ‘Hold’, hiked price target to Rs 750 from Rs 630.
  • Ramco the preferred play on South India followed by ACC.
  • Margin cycle turning favorable in South India.
  • High stress levels for South Indian capacities to drive up prices.
  • Outlook for other regions is subdued near term, positive longer term.

Antique on Oberoi Realty

  • Initiated ‘Buy’ with a price target of Rs 630
  • Dominant Player in Mumbai, with healthy rental income and strong balance sheet.
  • Diversified product portfolio; good mix of residential/annuity assets in pipeline.
  • Debt can easily be serviced; cost of debt is quite low.
  • See significant upside with NAV of Rs 525 per share and potential volume growth.

Feb 27, 2019 08:02 (IST)
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  • Indiabulls Integrated Services price band revised to 5 percent.

    • Stocks Moving Into Shot-Term ASM Framework

    • G Petrochemicals
    • Zee Media Corporation
    • IFB Agro Industries
    • IIFL Holdings
    • JBF Industries
    • Mercator
    • AXISCADES Engineering Technologies
    • MT Educare
    • Skipper
    • Manpasand Beverages
    • Spencer's Retail
    • GVK Power & Infrastructure
Feb 27, 2019 08:02 (IST)
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Earnings To Watch
  • Merck India
  • KSB
  • Rain Industries
  • Vesuvius India

Earnings Reaction To Watch

Sanofi India (Q4CY18, YoY)

  • Revenue up 8.4 percent to Rs 726.4 crore.
  • Net profit up 4.3 percent to Rs 79.3 crore.
  • Ebitda up 2.2 percent to Rs 137.3 crore.
  • Margin at 18.97 percent versus 20 percent.
  • Declares dividend of Rs 66 per share.
Feb 27, 2019 08:02 (IST)
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  • Max India approved the divestment of entire stake of 51 percent in Max Bupa Health Insurance to True North Fund for Rs 511 crore. The proposed transaction has valued Max Bupa at an enterprise value of Rs 1001 crore. Transaction is subject to approval from both parties, IRDAI and shareholders of the company.
  • The Reserve Bank of India removed Allahabad Bank, Corporation Bank and Dhanlaxmi Bank from the Prompt Corrective Action Framework subject to certain conditions. Allahabad Bank and Corporation Bank apprised RBI of structural and systemic improvements while Dhanlaxmi Bank found to not be breaching any risk threshold under PCA framework. (Source: RBI)
  • ONGC’s foreign arm, along with its joint venture partners of Mozambique Project, has entered into a long term LNG Sale and Purchase Agreement with four international players and BPCL arm. The company says these deals will take the long-term sales to more than 9.5 MMTPA of Liquified Natural Gas.
  • Fitch affirmed JSW Steel’s long-term issuer default rating at ‘BB’ with a stable outlook. The affirmation follows an improvement in the company’s Ebitda and leverage in the first nine months of the financial year 2019. (Bloomberg News)
  • Reliance Industries clarified on the news that company is a front-runner to take over Garden Vareli Brand as merely speculation in the media space.
  • Tata Steel board approved raising Rs 4,000 crore via NCDs (with greenshoe option of up to Rs 1,000 crore).
  • CG Power and Industrial Solutions clarified on the news of promoters in talks to selling their stake that they are just rumors and the company has no information on the aforementioned issue.
  • MRF said that the strike has been called off in its Chennai plant. The company had stated that a large number of workmen had gone on a strike with effect from Feb. 9 and the strike was of illegal in nature.
  • Unichem Lab said it will appeal against General Court’s judgement before the European Court of Justice stating that company did not conclude an anti-competitive settlement agreement with Servier. In July 2014 the commission had imposed a fine of 14 million euros.
  • Time Technoplast entered into an agreement with Confidence Group to retail blast proof LPG cylinders.
  • HDFC AMC board approved interim dividend of Rs 12 per share.
  • NALCO said it will consider payment of interim dividend for financial year 2019 on March 1. The record date has been fixed at March 12.
  • MCX recommended PS Reddy as CMD of the exchange. He will take the place of Mrugank Paranjape who will not continue his second term as the CMD of MCX and the appointment will be effective subjected to approval from the SEBI.
  • IDBI Bank board appointed Hemant Bhargava as non-executive, non-wholetime chairman of the bank for a period of three years or till he continues as the CMD of LIC.
  • S Chand and Company acquired remaining 26 percent stake in Chhaya Prakashani for Rs 64.24 crore. In December 2016 the company had acquired 74 percent stake in the aforementioned target company for Rs 170 crore. The company said that the rational for this investment is to expand its presence in Eastern India.
  • Bharat Financial Inclusion completed eight direct assignment transaction of Rs 1,217.8 crore. With this transaction, the company has completed direct assignment transactions worth Rs 6,666.2 crore in financial year 2019.
  • Panacea Biotech board approved a one-time settlement with consortium of lenders and raising Rs 864 crore via NCDs. The company also announced that it will demerge its real estate operations.
  • GMR Infra arm became the highest bidder for Greenfield Airport at Bhogapuram in Andhra Pradesh on a private-public partnership basis. The initial capacity of the airport will be to operate for six million passengers per annum with the initial investment pegged at Rs 2,300 crore.
Feb 27, 2019 08:02 (IST)
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  • Feb. 28: India eight infrastructure industries data for January.
  • Feb. 28: India Q4 GDP data. (Bloomberg estimates at 6.7 percent; prior 7.1 percent)
  • Feb. 28: India Q4 GVA data. (Bloomberg estimates at 6.5 percent; prior 6.9 percent)
  • Feb. 28: India fiscal deficit data for January.
  • March 1: Nikkei India Manufacturing PMI for January. (Prior 53.9)
  • March 1: Automakers to announce monthly sales data for January.
  • Powell delivers the second half of his semiannual testimony on monetary policy and the state of the economy to a House committee Wednesday.
  • President Donald Trump and North Korea leader Kim Jong Un meet for a second summit on Wednesday.
  • Thursday brings fourth quarter U.S. GDP.
Feb 27, 2019 08:02 (IST)
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  • Brent crude ended 0.7 percent higher at $65.21 per barrel.
  • West Texas Intermediate rose 1 percent to $56.03 a barrel.
  • Gold held at $1,329.43 an ounce.

    • London Metal Exchange

    • Nickel ended 0.12 percent lower for the second day.
    • Copper ended higher for the third day, up 0.2 percent.
    • Aluminium resumed rally after a one-day blip, ended 0.26 percent higher.
    • Lead ended higher for the fifth day, up 0.24 percent.
    • Tin halted a five-day rally, ended 0.6 percent lower.
    • Zinc ended 0.77 percent higher.
Feb 27, 2019 08:02 (IST)
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Feb 27, 2019 08:02 (IST)
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