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Last Hour Rally Helps Sensex, Nifty Extend Gains For Third Day

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Last Hour Rally Helps Sensex, Nifty Extend Gains For Third Day
A visitor uses a smartphone in front of an electronic ticker screen displaying current share prices. (Photographer: Yorgos Karahalis/Bloomberg)
7 years ago
Catch all the live updates of share prices, index moves, corporate announcements and more from Indian equity markets.
Feb 04, 2019 15:40 (IST)
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Feb 04, 2019 15:18 (IST)
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Whirlpool Of India Ltd’s margin contracted to 8.1 percent in the three months ended December from 9.3 percent clocked during the year-ago period, according to its stock exchange filing. The stock fell as much as 2.5 percent to Rs 1,500.65.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 26.5 percent at Rs 1,211.5 crore.
  • Net profit up 14.1 percent at Rs 60.6 crore.
  • Ebitda up 10.5 percent at Rs 98.5 crore.
  • Margin at 8.1 percent versus 9.3 percent.

Feb 04, 2019 15:11 (IST)
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Bajaj Holdings & Investment

  • Stock rose as much as 6.4 percent to Rs 3,050.
  • Trading volume was almost 40 times its 20-day average.

Future Consumer

  • Stock rose as much as 7.6 percent to Rs 46.85.
  • Trading volume was almost quadruple its 20-day average.

Aarti Industries

  • Stock rose as much as 5.3 percent to Rs 1,719.50.
  • Trading volume was almost quadruple its 20-day average.

IIFL Holdings

  • Stock fell as much as 11.2 percent to Rs 372.25.
  • Trading volume was more than double its 20-day average.

Feb 04, 2019 15:05 (IST)
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Shares of Exide Industries fluctuated between gains and losses to trade a little changed at Rs 226.80 after announcing its December quarter results.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 9 percent at Rs 2,497 crore.
  • Net profit up 0.6 percent at Rs 155 crore.
  • Ebitda up 6 percent at Rs 310 crore.
  • Margin at 12.4 percent versus 12.8 percent.

Feb 04, 2019 14:52 (IST)
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Welspun India Ltd.’s quarterly profit in the three months ended December fell 39 percent on a yearly basis to Rs 47.11 crore. The stock fell as much as 1.9 percent to Rs 58.25 after the results announcement.

Key Earnings Highlights (Q3, YoY)

  • Revenue up 17.3 percent at Rs 1,640.33 crore.
  • Net Profit down 39 percent at Rs 47.11 crore.
  • Ebitda down 7 percent at Rs 233.51 crore.
  • Margin at 14.2 percent versus 18.1 percent.

Feb 04, 2019 14:43 (IST)
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Feb 04, 2019 14:37 (IST)
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Feb 04, 2019 14:35 (IST)
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Feb 04, 2019 14:35 (IST)
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IDBI Bank Ltd.’s loss widens in December quarter to Rs 4,185 crore in the three months ended December from Rs 1,524.3 crore clocked in the year-ago period, according to its stock exchange filing. Shares of the lender fell nearly 7.5 percent intraday to Rs 48.80.

Key Earnings Highlights (Q3, YoY)

  • Net Interest Income down 18.5 percent to Rs 1,368.8 crore.
  • Net loss at Rs 4,185 crore versus net loss of Rs 1,524.3 crore.
  • Provisions at Rs 5,074.8 crore versus Rs 3,637.9 crore (Rs 5,481 crore QoQ).
  • GNPA at 29.67 percent versus 31.78 percent (QoQ).
  • NNPA at 14.01 percent versus 17.3 percent (QoQ).

Feb 04, 2019 14:17 (IST)
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Shares of GSK Pharma fluctuated between gains and losses to trade 2.7 percent lower at Rs 1,370.

Key Earnings Highlights (Q3, YoY)

  • Revenues up 17 percent at Rs 825 crore.
  • Net profit up 25 percent at Rs 113 crore.
  • Ebitda down 3 percent at Rs 137 crore.
  • Margin at 16.6 percent versus 20.2 percent.

Feb 04, 2019 14:07 (IST)
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Feb 04, 2019 14:00 (IST)
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Feb 04, 2019 13:23 (IST)
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  • NCLAT orders RCom and its guarantors not to sell or transfer any movable or immovable properties or invoke any guarantee or mortgage or any other instrument without prior permission of the appellate tribunal or the Supreme Court.
  • Ericsson had approached the NCLAT against RCom.
  • Ericsson claimed that RCom sold assets, but didn't pay them.
Feb 04, 2019 13:17 (IST)
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Feb 04, 2019 13:08 (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 plunged 29.6 percent to Rs 86.35. Over 6.34 lakh shares were added to the open interest which stood at over 37.91 lakh shares.

Feb 04, 2019 12:50 (IST)
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Shares of the information technology company rose as much as 1.5 percent to Rs 616.

The company's board approved share buyback of up to 28.6 lakh shares or 2.54 percent of paid up equity shares at price of Rs 700 per share aggregating to Rs 200 crore.

Cyient traded at 15 times its estimated earnings per share for the coming year, Bloomberg data showed.

Feb 04, 2019 12:22 (IST)
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  • Standard Chartered Bank seeks to oppose ArcelorMittal at NCLT, Kapil Sibal, lawyer representing the bank told the NCLAT.
  • A two-judge National Company Law Appellate Tribunal bench says National Company Law Tribunal should give final order on the matter by Feb. 11 or else the appeals court will summon records of the case and give orders.
  • NCLAT to hear Essar Steel case next on Feb. 12.

    • Source: Bloomberg

Feb 04, 2019 11:56 (IST)
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Feb 04, 2019 11:41 (IST)
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Feb 04, 2019 11:28 (IST)
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Key Highlights From The Conversation:

  • Annual income for average farmer is Rs 45,000.
  • Income of small and marginal farmer income is Rs 35,000 per year.
  • Rs 6,000 is a significant amount for them.
  • Projections on fiscal numbers realistic.
  • Ease of compliance will increase number of tax players filing returns.
  • Surplus food will lead to lower prices for food.
  • Lot of fiscal math is derived by small savings fund.
  • Some will be used by government and some will be used by private sector.
  • Government the trying to make sure that subsidies are being targeted better.
  • Current changes are being made by experts who are independent as well.
  • One should be worried about crating meaningful job opportunities for our youth.
  • Jobs are both supply and demand phenomenon.

Feb 04, 2019 10:33 (IST)
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Shares of the jewellery maker rose as much as 5.5 percent to to hit a new all-time high at Rs 1,046.

The company's profit for the December-ended quarter beat estimates due to higher jewellery sales. (More details here)

Besides, is said that its interim Managing Director Bhaskar Bhat will retire on Sept. 30. and the company’s current Chief Executive Office of the its jewellery division CK Venkataraman will take over the post of the MD.

Key earnings highlights (Q3, YoY)

  • Net sales up 34 percent at Rs 5,672 crore.
  • Ebitda up 30.8 percent at Rs 585 crore.
  • Ebitda margin at 10.3 percent versus 10.5 percent.
  • Profit up 35 percent at Rs 416 crore.

Here’s what analysts had to say about Titan after its quarterly results announcement.

CLSA

  • Maintained ‘Outperform’; hiked price target to Rs 1,100 from Rs 1,035.
  • Strong December quarter driving earnings upgrade.
  • Watches saw good revenue growth, but faced margin headwinds.
  • January started on a slightly soft tone for jewellery, but mgmt. hopeful of pick-up in March.

Macquarie

  • Maintained ‘Outperform’ with a price target of Rs 1,186.
  • December quarter results significantly ahead of estimates on higher jewellery sales.
  • Jewellery margin boosted by higher gross margin & lower A&P spends.
  • Market share gain remains key thesis; Top pick in consumer space.

Edelweiss

  • Maintained ‘Buy’; hiked price target to Rs 1,185 from Rs 990.
  • Titan’s master strategies have translated into stellar results.
  • Retain conviction that Titan is a strong play on discretionary spends.
  • Titan to extend its growth run on market share gains, rising share of jewellery, new launches and retail expansion.

Feb 04, 2019 10:21 (IST)
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Feb 04, 2019 10:02 (IST)
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Xelpmoc Design & Tech Ltd. listed at a discount of 13.64 percent to Rs 57 apiece on the National Stock Exchange, compared with its issue price of Rs 66. The information technology company fell as much as 16.4 percent thereafter.

Feb 04, 2019 10:02 (IST)
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Shares of the housing finance company fell for the sixth day, its longest losing streak since March 2018. The stock fell nearly 13 percent intraday to Rs 96.80.

Care Ratings downgraded Rs 1.2 lakh crore worth of bonds, loans and deposits issued by Dewan Housing Finance citing the sharp reduction in its share price and the significant rise in bond spreads.

Kapil Wadhawan, Chairman and Managing Director at DHFL spoke to BloombergQuint. Here are the key highlights from the interaction:

  • Allegations by Cobrapost were unfounded.
  • Shareholders and bondholders need to focus on facts given by company.
  • Absolute due diligence has been done by DHFL before giving loans.
  • Voluntary action by rating agency comes in as a surprise to us.
  • Rating agency cannot take actions based on share price and yield movement.
  • Looking to push out an audit report on allegations within three weeks.

Feb 04, 2019 09:42 (IST)
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Shares of Bajaj Auto parred losses and extended gains for the third day. The stock rose as much as 1.3 percent to Rs 2,635.

The two-and-three-wheeler maker sold 4.07 lakh units last month, an increase of 15 percent from January 2018, according to its stock exchange filing.

Key Sales Highlights (YoY)

  • Domestic motorcycle sales rose 25 percent to 2.03 lakh units.
  • Motorcycle exports rose 17 percent to 1.47 lakh units.
  • Overall motorcycle sales rose 21 percent to 3.5 lakh units.
  • Overall commercial vehicle sales fell 12 percent to 56,690 units.
  • Overall domestic sales rose 14 percent to 2.31 lakh units.
  • Overall exports rose 16 percent to 1.75 lakh units.

Feb 04, 2019 09:32 (IST)
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Feb 04, 2019 09:23 (IST)
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Feb 04, 2019 09:05 (IST)
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Feb 04, 2019 08:52 (IST)
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BQEdge | Why Nifty Bank’s Underperformance May Continue

Feb 04, 2019 08:52 (IST)
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Feb 04, 2019 07:59 (IST)
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F&O Cues
  • Nifty February futures closed trading at 10,914, premium of 20 points.
  • Max OI for February series at 11,000 Call, OI at 31.5 lakh shares.
  • Max OI for February series at 10,700 Put, OI at 29.7 lakh shares.

Stocks In F&O Ban

  • IDBI Bank

Put-Call Ratio

  • Nifty PCR at 1.63 versus 1.65
  • Nifty Bank PCR at 0.8 versus 1.4
Feb 04, 2019 07:59 (IST)
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On Titan

CLSA

  • Maintained ‘Outperform’; hiked price target to Rs 1,100 from Rs 1,035.
  • Strong December quarter driving earnings upgrade.
  • Watches saw good revenue growth, but faced margin headwinds.
  • January started on a slightly soft tone for jewellery, but mgmt. hopeful of pick-up in March.

Macquarie

  • Maintained ‘Outperform’ with a price target of Rs 1,186.
  • December quarter results significantly ahead of estimates on higher jewellery sales.
  • Jewellery margin boosted by higher gross margin & lower A&P spends.
  • Market share gain remains key thesis; Top pick in consumer space.

Edelweiss

  • Maintained ‘Buy’; hiked price target to Rs 1,185 from Rs 990.
  • Titan’s master strategies have translated into stellar results.
  • Retain conviction that Titan is a strong play on discretionary spends.
  • Titan to extend its growth run on market share gains, rising share of jewellery, new launches and retail expansion.

On SBI

Macquarie

  • Maintained ‘Neutral’; hiked price target to Rs 315 from Rs 265.
  • Lowest slippage ratio in nearly a decade; guidance looks optimistic.
  • Mgmt. track record on delivery has been poor; still exercise caution.
  • Prefer ICICI Bank to play “normalisation of credit costs” theme.

CLSA

  • Maintained ‘Buy’; hiked price target to Rs 380 from Rs 370.
  • Steady asset quality a positive; Loan growth picks up.
  • See scope for credit costs to halve over next two years and drive turnaround in earnings.
  • SBI remains top pick among PSU banks.

Axis Capital

  • Maintained ‘Buy’ with a price target of Rs 380.
  • Strong show; concern on few exposures.
  • Expect SBI to outperform from current levels; expect credit growth to regain momentum.
  • Positives: pricing power, resolution of large lumpy NCLT cases, slowdown in slippages and adequate capitalisation.

On Dr. Reddy’s Laboratories

CLSA

  • Maintained ‘Outperform’; hiked price target to Rs 3,200 from Rs 2,850.
  • December quarter’s net profit grew 45 percent year-on-year, significantly ahead of estimate.
  • Third consecutive quarter of margin improvement led by cost controls.
  • Revival of the U.S. growth in 2019-20 is the key catalyst.

Macquarie

  • Maintained ‘Neutral’; hiked price target to Rs 2,648 from Rs 2,500.
  • Delivered superior December quarter’s performance driven by multiple factors.
  • Increased focus on other key regions and cost rationalisation is yielding results.
  • Shifting product timelines and reducing complex arbitrage could play spoilsport.

Kotak

  • Maintained ‘Reduce’; hiked price target to Rs 2,450 from Rs 2,400.
  • Lower R&D and tax help sustain performance.
  • Pipeline execution key for growth, as proprietary products and biosimilars falter.
  • Overreliance on select the U.S. opportunities demands lower multiple.

On Westlife Development

CLSA

  • Maintained ‘Buy’ with a price target of Rs 550.
  • December quarter results lower-than-estimates; same-store sales growth remains healthy.
  • Growth momentum continues, but margin are weak.
  • Clarity on revised royalty terms with McDonald’s improves earnings visibility.

Axis Capital

  • Maintained ‘Buy’; hiked price target to Rs 475 from Rs 410.
  • Growth continues; royalty revision a key positive.
  • Sustained same-store sales growth momentum led to further improvement in annualized average revenue per store.
  • Revised royalty agreement provides improved visibility over margin.
Feb 04, 2019 07:59 (IST)
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  • Jubilant Foodworks: Wasatch Advisors acquired 8.8 lakh shares or 0.67 percent equity at Rs 1,320.2 per share.
  • Den Networks: Norges Bank sold 11.5 lakh shares or 0.59 percent equity at Rs 71.57 each.
  • Zee Entertainment Enterprises: Catalyst Trusteeship sold 74 lakh shares or 0.77 percent equity at Rs 361.42 each.

    • Bliss GVS Pharma

    • Polus Global Fund acquired 83 lakh shares or 8.05 percent equity at Rs 152.92 per share.
    • Promoters from Ashra Family and Narsimha Kamath sold 87.2 lakh shares or 8.46 percent equity at Rs 153 per share.

    CL Educate

    • Arjuna Fund acquired 71,900 shares or 0.51 percent equity at Rs 125.55 each.
    • Ashoka Private sold 71,900 shares or 0.51 percent equity at Rs 125.55 each.
Feb 04, 2019 07:59 (IST)
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Earnings To Watch
  • Aban Offshore
  • Ajmera Realty
  • Aditya Birla Fashion and Retail
  • Artemis Global Life Sciences
  • Balrampur Chini Mills
  • Bayer Cropscience
  • Bombay Burmah Trading Corporation
  • Capacit'e Infraprojects
  • Cimmco
  • Exide Industries
  • Future Retail
  • Garden Silk Mills
  • GlaxoSmithKline Pharmaceuticals
  • Godrej Agrovet
  • Greaves Cotton
  • Grindwell Norton
  • Honeywell Automation
  • IDBI Bank
  • Insecticides India
  • IRB Infrastructure Developers
  • KEI Industries
  • Lakshmi Machine Works
  • Lakshmi Vilas Bank
  • LKP Securities
  • Lumax Industries
  • Morepen Laboratories
  • Munjal Showa
  • Navneet Education
  • Novartis
  • Omkar Speciality Chemicals
  • Reliance Naval and Engineering
  • Royal Orchid Hotels
  • Satin Creditcare Network
  • SREI Infrastructure Finance
  • SRF
  • Star Cement
  • Sun Pharma Advanced Research Company
  • Tata Investment Corporation
  • Texmaco Infrastructure & Holdings
  • Texmaco Rail & Engineering
  • Titagarh Wagons
  • Welspun
  • Whirlpool
  • Firstsource Solutions
  • Moschip Semiconductor Technology
  • NRB Bearing
  • Stylam Industries
  • TI Financial Holdings
  • ZF Steering Gear

Earnings Reactions To Watch

Divi’s Lab (Q3, YoY)

  • Revenue up 29.4 percent at Rs 1,343 crore.
  • Ebitda up 60 percent at Rs 523 crore.
  • Ebitda margin at 39 percent versus 31.4 percent.
  • Net profit up 67 percent at Rs 380 crore.

Future Lifestyle Fashion (Q3, YoY)

  • Revenue up 36 percent at Rs 16.2 crore.
  • Ebitda up 60 percent at Rs 1.6 crore.
  • Ebitda margin at 9.9 percent.
  • Net profit up 49 percent at Rs 0.55 crore.

Godfrey Phillips (Q3, YoY)

  • Revenue up 13.4 percent at Rs 660 crore.
  • Ebitda up 26.5 percent at Rs 115.6 crore.
  • Ebitda margin at 17.5 percent versus 15.7 percent.
  • Net profit up 26.6 percent at Rs 78.5 crore.

Relaxo Footwear (Q3, YoY)

  • Revenue up 20.6 percent at Rs 551 crore.
  • Ebitda up 26.5 percent at Rs 115.6 crore.
  • Ebitda margin at 13.2 percent versus 15.7 percent.
  • Net profit down 6.8 percent at Rs 35.6 crore.

BEML (Q3, YoY)

  • Revenue up 26.4 percent at Rs 924 crore.
  • Ebitda up 84 percent at Rs 75.8 crore.
  • Ebitda margin at 8.2 percent versus 5.6 percent.
  • Net profit up 168 percent at Rs 44.7 crore.

Titan (Q3, YoY)

  • Net sales up 34 percent at Rs 5,672 crore.
  • Ebitda up 30.8 percent at Rs 585 crore.
  • Ebitda margin at 10.3 percent versus 10.5 percent.
  • Profit up 35 percent at Rs 416 crore.

Berger Paints (Q3, YoY)

  • Revenue up 20.8 percent at Rs 1,616.7 crore.
  • Net profit up 2.7 percent at Rs 133.9 crore.
  • Ebitda up 6 percent at Rs 236 crore.
  • Margin at 14.6 percent versus 16.6 percent.

Sheela Foam (Q3. YoY)

  • Revenue up 7 percent at Rs 569.2 crore.
  • Net profit down 0.5 percent at Rs 38.9 crore.
  • Ebitda down 1 percent at Rs 60.8 crore.
  • Margin at 10.7 percent versus 11.5 percent.

Deepak Nitrite (Q3, YoY)

  • Revenue up 21.9 percent at Rs 452.3 crore.
  • Net profit up 55.7 percent at Rs 31.6 crore.
  • Ebitda up 26.6 percent at Rs 66.1 crore.
  • Margin at 14.6 percent versus 14.1 percent.
  • Other income of Rs 5.5 crore.

Equitas Holding (Q3, YoY)

  • Net interest income up 37 percent at Rs 320 crore.
  • Net profit at Rs 62.5 crore versus net loss of Rs 30 crore.
  • Advances up 41 percent at Rs 10,861 crore.
  • Disbursements up 43 percent at Rs 2,265 crore.

Akzo Nobel (Q3, YoY)

  • Revenue up 10 percent at Rs 783.3 crore.
  • Net profit down 26.9 percent at Rs 60.4 crore.
  • Ebitda up 2.1 percent at Rs 101.2 crore.
  • Margin at 12.9 percent versus 13.9 percent.
  • Other income of Rs 18.2 crore in base quarter.
Feb 04, 2019 07:59 (IST)
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  • Xelpmoc Design shares to start trading on BSE/NSE after IPO got 3.3 times demand.
Feb 04, 2019 07:59 (IST)
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Feb 04, 2019 07:59 (IST)
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  • Feb. 05: Nikkei India Services PMI and Composite PMI.
  • Feb. 07: RBI Monetary Policy Meet.
  • Markets across Asia, including China, Hong Kong, Singapore, Taiwan, South Korea, Malaysia and Vietnam, will close for part or all of the week to mark the start of the Year of the Pig.
  • China, Korea, Taiwan markets are closed Monday.
  • U.S. President Donald Trump delivers a delayed State of the Union address Tuesday
  • On Wednesday, Federal Reserve Chairman Jerome Powell hosts a town hall meeting with educators, his first public comments following the January FOMC meeting and rate decision.
  • On Tuesday, the Reserve Bank of Australia sets monetary policy.
  • On Thursday, the Bank of England sets interest rates and updates its economic forecasts. No change in policy is expected.
  • Also Thursday, the Reserve Bank of India unveils a rate decision.
Feb 04, 2019 07:59 (IST)
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London Metal Exchange
  • Aluminium halted a four-day rally, ended 1.41 percent lower.
  • Nickel rallied for the fourth day, ended 1.44 percent higher.
  • Tin rallied for the fourth day, ended 0.19 percent higher.
  • Zinc rallied for the third day, ended 2.13 percent higher.
  • Lead rallied for the third day, ended 0.71 percent higher.
  • Copper halted a three-day rally, ended 0.49 percent lower.

Feb 04, 2019 07:59 (IST)
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Feb 04, 2019 07:59 (IST)
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