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The broader indices almost mirrored their larger peers with S&P BSE MidCap adding over 1% and S&P BSE SmallCap gaining 0.7%. Barring S&P BSE Healthcare and S&P BSE Consumer Durables, all the other 17 sectoral indices compiled by BSE Ltd. rose, with S&P Telecom gaining over 3% and S&P BSE Power, Energy and Utilities advancing over 2%.
The market breadth was skewed in the favour of bulls. About 1,839 stocks advanced, 1,609 declined and 82 remained unchanged.
"The Nifty has maintained a breakout continuation formation but profit booking at higher levels is not ruled out due to the extended rally in recent sessions", Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. wrote in a note and added that "the 18,100 level would be the key to watch out for and above the same the uptrend texture will continue up to 18,275-18,350. On the other hand, below 18,100, the market may trigger short-term correction up to 18,050-18,000 levels".
Kolte-Patil Developers Ltd. has posted a 28% QoQ growth in sales volume in December quarter, according to its business update
Sales Volume up 28% QoQ to 0.83 million square feet
New area sales value up 31% QoQ to Rs 561 crore
Realisation up 2% QoQ to Rs 6,489 per square feet
Collections up 13% QoQ to Rs 421 crore
Shares of Kolte-Patil Developers rose over 5% in intraday trade. All the four analysts tracking the company maintained a 'buy' recommendation. The overall consensus price of analysts tracking by Bloomberg implied an upside of 33.4%.
Source: Exchange Filing, Bloomberg
Federal Bank Ltd. has approved the issuance of Unsecured Basel III Tier-II subordinate bonds in the nature of debentures, amounting up to Rs 700 crore on a private placement basis, the company said in an exchange filing.
Source: Bloomberg
Bank of Baroda Ltd. has 1.45 million shares change hands in a bunched trade.
Details of buyers and sellers are not immediately known.
Source: Bloomberg
Endurance Technologies Ltd. raised to 'buy' from 'accumulate' at Prabhudas Lilladher; price target set at Rs 1,981.
TVS Motor Co. cut to 'accumulate' from 'buy' at Prabhudas Lilladher; price target set at Rs 736.
Bajaj Auto Ltd. raised to 'buy' from 'accumulate' at Prabhudas Lilladher; price target set at Rs 4,057.
Eicher Motors Ltd. raised to 'buy' from 'hold' at Prabhudas Lilladher; price target set at Rs 3,398.
Source: Bloomberg
NCC Ltd. has 2.56 million shares change hands in a bunched trade.
Details of the buyers and sellers are not immediately.
Source: Bloomberg
The broader indices almost mirrored their larger peers with S&P BSE MidCap and S&P BSE SmallCap gaining 0.85%. Sixteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Realty and S&P BSE Telecom gaining 2%.
The market breadth was skewed in the favour of bulls. About 1,795 stocks advanced, 1,593 stocks advanced and 85 remained unchanged.
India Said to Seek $203 Billion Value for Insurer in Biggest IPO
L&T Hydrocarbon Engineering has bagged an order from overseas clients for EPC of new facilities and integration with existing installations.
L&T defines 'mega' orders as those worth over Rs 7,000 crore.
Source: Exchange filing
HiedelbergCement India Ltd. has commissioned a state-of-the-art facility to substitute part of fossil fuels with alternate fuels in cement production, the company said in an exchange filing.
The facility -- built at Damoh in Madhya Pradesh with an investment of Rs 16 crore -- will help the company achieve thermal substitute rate of 5% in the first phase.
The facility is expected to reduce the company's carbon dioxide emissions by 42,000 tonnes per annum.
Source: Exchange Filing
Indian bonds are lower with traders awaiting a data release that’s forecast to show consumer-price inflation accelerated in December. The rupee is trading steady.
CPI probably rose to 5.8% YoY in December, the highest in six months, from 4.91% a month earlier, according to a Bloomberg survey of economists. The data is published at 5:30 p.m.
India’s 10-year bond yield up 1bp to 6.58%; 5-year yield rises 1bp to 5.94%.
USD/INR little changed at 74.
Source: Bloomberg
Easy Trip Planners has recommended the bonus issue of equity shares in the proportion of one equity share of face value Rs 2 each for one equity share of face value Rs 2 each.
Source: Exchange Filing
Most maturities along the India sovereign yield curve were little changed, while 5-year yields rose in Wednesday morning trading.
The 2-year yield remained unchanged at 4.688%
The 10-year yield rose 0.6bps to 6.576%
The 14-year yield rose 1bp to 7.042%
The 2-year-10-year yield spread was 188.8bps, vs previous close 188.2bps
The NSE Nifty 50 Index rose 0.8%
Source: Bloomberg
Vodafone Idea: Government Has No Desire To Run Company, Appoint Director, Says Ravinder Takkar
The broader indices almost mirrored their larger peers with the S&P BSE MidCap rising 0.4% and S&P BSE SmallCap adding 0.55%. All the 19 sectoral indices compiled by BSE Ltd. advanced, with S&P BSE Metal and S&P BSE Realty gaining over 1.5%.
The market breadth was skewed in the favour of bulls. About 2,199 stocks advanced, 567 declined and 77 remained unchanged.
Indian bond traders are awaiting inflation numbers that are forecast to show consumer-price gains accelerated in December. The rupee is set to open higher, following gains in its Asian peers.
CPI probably rose to 5.8% YoY in December, the highest in six months, from 4.91% a month earlier, according to a Bloomberg survey of economists before the data is published at 5:30 p.m.
India’s 10-year bond yields fell 2bps to 6.57% on Tuesday after the government announced a new 10-year bond sale.
USD/INR fell 0.2% to 73.9125 on Tuesday
Global Funds bought a net Rs 112 crore of India stocks on Tuesday: NSE
They bought Rs 32 crore of sovereign bonds under limits available to foreign investors, and sold Rs 10 crore of corporate debt
State-run banks bought Rs 37.26 crore of sovereign bonds on Jan. 11: CCIL data. Foreign banks sold Rs 859 crore of bonds.
Source: Bloomberg
RattanIndia Enterprises has approved an investment of Rs 350 crore in its wholly owned subsidiary Cocoblu Retail Ltd., making the company e-commerce foray.
RattanIndia Enterprises is building businesses in new age sectors such as electric motorcycles, drone solutions and fintech.
Cocoblu will offer digital end-to-end value-chain management solutions to several brands to bring them onto leading online platforms.
Anjal Rattan Nashier, business chairperson of RattanIndia Enterprises said that the investment of Rs 350 crore is intended to create an 'all-digital approach to selling lifestyle offerings through e-commerce platforms'.
Source: Exchange Filing
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Q3 Results Preview: India Inc.’s Ebitda Margin To Shrink First Time In 12 Quarters: Crisil
India Aims to File LIC IPO Prospectus in Week of Jan. 31
Government has no plans to convert Vodafone Idea Ltd., into a state-run firm, and it is not keen on a board seat, the Economic Times newspaper reported citing unnamed senior officials.
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