Sensex, Nifty Clock Longest Weekly Gains Since November
Federal-Mogul Goetze India
- Stock rose as much as 13.6 percent to Rs 571.90.
- Trading volume was more than 50 times its 20-day average.
Granules India
- Stock rose as much as 9.8 percent to Rs 114.40.
- Trading volume was more than 14 times its 20-day average.
Dixon Technologies
- Stock rose as much as 6.7 percent to Rs 2,548.
- Trading volume was more than 14 times its 20-day average.
Azim Premji Trust sold 2.67 crore shares in Wipro, according to its stock exchange notification.
Shares of the information technology company as much as 4.8 percent to Rs 256 after a block deal during the opening trade today.
BloombergQuint had earlier reported that Azim Premji Trust, part of the promoter group that owns 74.3 percent in the software services provider, plans to sell a minimum of 0.29 percent, or 1.78 crore shares through block deals, according to sources who spoke on the condition of anonymity as the information was not public.
Shares of Reliance Nippon Life Asset Management rose as much as 14.7 percent to Rs 222.80.
Trading volume was more than 10 times its 20-day average, Bloomberg data showed. The stock declined 20 percent in the past 12 months compared to a 9.8 percent gain in the Sensex.
- BHEL: About 40 lakh shares changed hands in a single block.
- Gujarat Gas: 19 lakh change hands in a block deal.
- Thermax: About 12 lakh shares changed hands in a single block.
Buyers and sellers were not known immediately.
Source: Bloomberg
Shares of the Hyderabad-based construction company rose for the fifth straight session and gained 6.1 percent intraday to Rs 248.95 apiece, its highest since August 2018.
The stock has returned as much as 21 percent in the last five trading sessions. KNR Construction bagged an order worth Rs 135 crore from Karnataka Road Development Corporation, according to its notification to the exchanges.
The firm also bagged a hybrid annuity project with bid project cost of Rs 920 crore. Trading volume on the stock was more than 50 times the 20-day average for this time of the day, according to data compiled by Bloomberg.
Arvind Fashions Listing: Here’s What You Need To Know
About 12.1 lakh shares of Edelweiss Financial Services changed hands in a single block, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the carmaker fell as much as 1.7 percent to Rs 186.
JLR’s February retail sales fell 4.1 percent over last year at 38,288 units, according an exchange filing. While Jaguar sales rose 5.8 percent and Land Rover sales declined 8.1 percent. Retail sales jumped 25.4 percent in North America, 11.3 percent in the U.K. and 1.1 percent in Europe. China sales fell 47.6 percent.
The stock declined 46 percent in the past 12 months compared with a 11 percent gain in the BSE Sensex.
F&O Cues- Nifty March futures closed trading at 11,098, premium of 40 points.
- Max open interest for March 28 series at 11,500 Call (open interest at 22.5 lakh shares)
- Max open interest for March 28 series at 11,000 Put, (open interest at 33.9 lakh shares)
Stocks In F&O Ban
- IDBI Bank
- Reliance Power
- Wockhardt
Put-Call Ratio
- Nifty PCR at 1.66 versus 1.8.
- Bank Nifty PCR at 1.05 versus 1.53.
Macquarie on Gujarat Gas
- Initiated ‘Outperform’ with a price target of Rs 165.
- See highest structural volume growth potential versus IGL and MGL.
- Base case assumes volumes registering 13 percent CAGR over the next five years.
- Shift in sales and sourcing mix to lower volatility.
UBS on Mindtree
- Initiated ‘Neutral’ with a price target Rs 1,015.
- Strong digital growth balanced by client concentration.
- Healthy digital exposure and room for operating margin reversal are positives.
- Stake sale likely to be a big influence on valuations in 2019.
Nomura on Alkem Labs
- Maintained ‘Neutral’; cut price target to Rs 1,965 from Rs 2,116.
- Cut earnings to factor impact of competition in Mycophenolate Mofetil suspension.
- VistaPharm recently received approval and is likely to launch a product.
- Trading at 13.7 times FY21F EV/EBITDA, higher than trading multiple of most peers.
CLSA on Ambuja Cements
- Maintained ‘Outperform’ with a price target of Rs 250.
- Annual report shows balance sheet parameters worsened.
- Operating cashflow and FCF declined sharply in 2018.
- Market share losses continued but new capacity should help.
Goldman Sachs on HCL Tech
- Downgraded to ‘Sell’ from ‘Neutral’ cut price target to Rs 907 from Rs 958.
- Increasing risk from execution and industry shift to cloud.
- See risk of lower margins in near term and challenges with software products.
CLSA on Hindalco
- Maintained ‘Sell’, cut price target to Rs 180 from Rs 195.
- Easing aluminium cost support and slowing global autos pose headwinds.
- Concerned on the outlook for Novelis given slowing global auto demand.
Goldman Sachs on TCS
- Upgrade to ‘Buy’ from ‘Neutral’, raised price target to Rs 2,359 from Rs 1,856.
- Raising dollar revenue growth forecast in FY18-21 to 10.3 percent versus 8.9 percent previously.
- Expect TCS to outperform Infosys in terms of EPS growth and ROE/ROIC.
- Domain expertise to help clients digitise.
- NIIT: Canara Robeco MF buys 12 lakh shares at Rs 92.80 apiece.
- Vijaya Bank: Morgan Stanley buys 81.3 lakh shares at Rs 45.97 apiece.
Arvind Fashions Listing: Here’s What You Need To Know
- Tata Motors: JLR’s February retail sales were down 4.1 percent over last year at 38,288 units. Jaguar sales were up 5.8 percent and Land Rover sales were down 8.1 percent. Retail sales were up 25.4 percent in North America, up 11.3 percent in the U.K. and 1.1 percent in Europe. China sales were down 47.6 percent.
- Wipro promoter is said to sell up to 2.67 crore shares in company via block deal. Azim Premji Trust will sell 0.29 percent stake in the company with option to sell up to 0.44 percent. The indicative price range is at Rs 255.40-260.78 per share, implying a discount of 3-5 percent to last regular trade. (Sources to BQ)
- Reliance Industries entered into an MoU with NMSEZ to sub lease 4,000 acres of land, and also made an initial payment of Rs 2,180 crore to the latter.
- Three additional Jet Airways aircraft were grounded due to non-payment of amounts outstanding to lessors.
- Infosys said it will deliver engineering and digital services to Rolls-Royce group.
- KNR Constructions: Receipt of order worth Rs 135 crore from Karnataka Road Development Corporation. They bagged a hybrid annuity project with bid project cost of Rs 920 crore.
- Lupin received the FDA approval for Atorvastatin calcium tablets. The product has annual sales of approximately $696 million in the U.S.
- Embassy of Vietnam signed up BLS International to accept visa applications in India.
- The U.S. jobs report Friday may show hiring moderated in February. Nonfarm payrolls may have increased by 180,000 while the jobless rate fell to 3.9 percent, according to estimates.
- The House of Commons votes on U.K. Prime Minister Theresa May’s revised Brexit deal on Tuesday, 20 days before Britain is scheduled to leave the EU. A similar measure was resoundingly defeated in January.
London Metal Exchange- Nickel ended lower for the second day, down 2.6 percent.
- Aluminium ended lower for the fourth day down 0.1 percent.
- Lead halted a four-day decline, ended 0.29 percent higher.
- Tin ended 0.35 percent higher.
- Zinc halted a two-day rally, ended 1.9 percent lower.
- Copper ended lower for the second day, down 0.69 percent.
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