Closing Bell: Nifty ends below 10,950, Sensex falls 623 pts; RIL up 9%, Yes Bank falls 10%.

After holding on the gains in the first half, the market gave up all its intraday gains in the second half and ended near day's low with Nifty finished below 10,950.

At close, the Sensex was down 623.75 points at 36,958.16, while Nifty was down 183.80 points at 10,925.90. About 870 shares have advanced, 1621 shares declined, and 144 shares are unchanged. 

Yes Bank, M&M, UPL, Bajaj Finance and Bajaj Finserv were among major losers on the Nifty, while gainers were Indiabulls Housing, Reliance Industries, Sun Pharma, GAIL and Hindalco Industries.

Among sectors, except energy (up 1.9 percent), all other indices are ended in the red led by the infra (down 3.6 percent), auto (down 4 percent), PSU bank (down 2.6 percent) followed by metal, pharma, IT and FMCG. BSE Midcap index slipped 2.2 percent, while BSE smallcap index shed 1.4 percent.

HEADLINES OF THE DAY

Sun Pharma Q1 result: Company's consolidated net profit rose 31 percent at Rs 1,387.5 crore against Rs 1,057.3 crore, while revenue up 16 percent at Rs 8,374.4 crore against Rs 7,224.2 crore, YoY.

Motherson Sumi falls nearly 10% on dismal Q1 result: Share price of Motherson Sumi Systems fell nearly 10 percent on August 13 after company reported dismal numbers for the quarter ended June 2019.

Bosch Q1 result: Net profit was down 35 percent at Rs 280 crore against Rs 431 crore, revenue was down 13.5 percent at Rs 2,779 crore against Rs 3,212 crore, YoY.

Sun TV Network hits 3-year low: Shares of Sun TV Network fell more than 4 percent to hit fresh three-year low on August 13 as global brokerages slashed price target on the stock after weak earnings in Q1.

The crucial resistance for Nifty spot is now seen at 11200 and above this 11460 Support for the immediate term is now placed at 10800 next support will be 10660.

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Closing Bell: Nifty ends above 11,100, Sensex gains; IndusInd Bank up 5%, metal stocks shine.

Benchmark indices snapped 2 day's losing streak and ended higher on July 31 with Nifty finished above 11,100 level.

At close, the Sensex was up 83.88 points at 37,481.12, while Nifty was up 28.40 points at 11,113.80. About 1134 shares have advanced, 1333 shares declined, and 137 shares are unchanged. 

Zee Entertainment, Axis Bank, Bharti Airtel, Titan Company and Bharti Infratel were among major losers on the Nifty, while gainers were IndusInd Bank, Yes Bank, IOC, Hero Motocorp and Tata Steel.

All the sectoral indices ended in the green led by the metal, auto, pharma, IT, infra, FMCG and energy.

HEADLINES OF THE DAY

Motilal Oswal Q1: Net profit up 24.6 percent at Rs 129.4 crore against Rs 103.8 crore, revenue up at Rs 609.2 crore against Rs 602.5 crore, YoY.

IOC Q1 net profit dips 41%:Oil marketing firm, Indian Oil Corporation (IOC) has posted 41 percent fall in its June quarter net profit at Rs 3,596.11 against Rs 6,099.3 crore in the quarter ended March 2019.

Allahabad Bank Q1: Net profit at Rs 128 crore versus loss of Rs 1,944.4 crore, while net interest income (NII) was down 10.2% at Rs 1,530.1 crore against Rs 1,703.6 crore, YoY. 

The crucial resistance for Nifty spot is now seen at 11360 and above this 11500 Support for the immediate term is now placed at 11060 next support will be 10960.

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Closing Bell: Nifty ends July series below 11,300, Sensex flat; pharma stocks gain, Tata Motors slips 4%.

Benchmark indices ended the volatile day on flat note with Nifty finished the July F&O series below 11,300 mark.

At close, the Sensex was down 16.67 points at 37830.98, while Nifty was down 9.50 points at 11261.80. About 1059 shares have advanced, 1342 shares declined, and 171 shares are unchanged. 

Tata Motors, Bajaj Finance, Bajaj Finserv, Coal India and JSW Steel were among major losers, while gainers were Vedanta, Cipla, Zee Entertainment, Sun Pharma and IndusInd Bank.

Among sectors, metal, infra, auto and energy witnessed selling, while buying was seen in the IT and pharma. BSE Midcap index ended 0.5 percent higher, while BSE smallcap ended flat.

HEADLINES OF THE DAY

Ambuja Cements Q1: Cement maker Ambuja Cements has reported 17.5 percent fall in its June quarter (Q1FY20) net profit at Rs 412 crore against Rs 499.3 crore in the same quarter last fiscal.

Shares of pharma company Cipla rallied nearly 4 percent on July 25 after its US subsidiary acquired worldwide rights (excluding Greater China) of key anti-infective drug Zemdri.

Reliance Capital has fully repaid its outstanding commercial paper (CP) of Rs 75 crore on July 24, 2019. With the above repayment the CP outstanding stands at zero from the peak outstanding amount of approximately Rs 3,500 crore.

Bajaj Finance Q1 Profit Jumps 43% :- Bajaj Finance's June quarter (Q1) consolidated net profit missed analyst expectations due to higher provisions, rising 43 percent year-on-year to Rs 1,195 crore, the highest ever.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11660 Support for the immediate term is now placed at 11140 next support will be 11020.

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Closing Bell: Nifty ends below 11,300, Sensex falls 135 points dragged by metal, auto and pharma.

Indian indices continue its downtrend on the fifth consecutive day on July 24 with Nifty finished below 11,300 level.

At close, the Sensex was down 135.09 points at 37,847.65, while Nifty was down 60 points at 11,271. About 834 shares have advanced, 1588 shares declined, and 153 shares are unchanged. 

UPL, Adani Ports, Indiabulls Housing, Eicher Motors and IndusInd Bank were some of the major losers on the Nifty, while gainers include Zee Entertainment, Asian Paints, HUL, HDFC and HCL Technologies. 

Among the sectors, metal index slipped over 2 percent, followed by auto, energy, infra, IT and pharma. Midcap index was down 1.5 percent, while Smallcap index shed over 1 percent.

HEADLINES OF THE DAY

V-Guard Industries Q1: Net profit rose 53.6% at Rs 53 crore against Rs 34.5 crore, revenue was up 10% at Rs 706.6 crore against Rs 642.4 crore. EBITDA up 52.1% at Rs 72.1 crore, while margin up at 10.2%, YoY.

Canara Bank Q1: Net profit up 16.9% at Rs 329.1 crore against Rs 281.5 crore, net interest income was down 16.6% at Rs 3,240.1 crore versus Rs 3,882.9 crore, YoY.

Jubilant Foodworks Q1: Jubilant Foodworks, the operator of Domino's Pizza has reported marginal fall in its consolidated net profit for the quarter ended June 2019. The company's Q1FY20 net profit was down 0.9 percent at Rs 71.5 crore against Rs 72.1 crore in the same quarter last fiscal. Revenue of the company was up 10 percent at Rs 949.1 crore against Rs 863.2 crore.

TVS Motor Singapore to invest USD7 mn in Scienaptic Systems: TVS Motor (Singapore) Pte. a wholly-owned subsidiary of TVS Motor has signed definitive agreements to invest USD7 million in Scienaptic Systems Inc. The closing of the investment is subject to obtaining appropriate regulatory approvals.

The crucial resistance for Nifty spot is now seen at 11460 and above this 11600 Support for the immediate term is now placed at 11140 next support will be 11020.

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Closing Bell: Nifty ends below 11,350, Sensex sheds 305 points; metal stocks gain, Bajaj Finserv falls 5%.

Benchmark indices reported third straight session loss on July 22 but ended off day's low with Nifty below 11,350 level.

At close, the Sensex was down 305.88 points at 38,031.13, while Nifty was down 73.10 points at 11, 346.20. About 816 shares have advanced, 1680 shares declined, and 155 shares are unchanged. 

Bajaj Finserv, HDFC, Kotak Mahindra Bank, HDFC Bank and Eicher Motors were among major losers on the Nifty, while gainers were Yes Bank, Vedanta, Hindalco Industries, Zee Entertainment and Indiabulls Housing.

Among sectors, Banks and FMCG indices ended 1 percent lower, while buying seen in the metal, pharma, energy, IT and auto. On the other hand, midcap index was down 0.6 percent, while smallcap index shed 1%.

HEADLINES OF THE DAY

GSK Pharma Q1: Net profit rose 35% at Rs 113.5 crore versus Rs 84.1 crore, revenue up 7.1% at Rs 788 crore against Rs 735.7 crore. EBITDA up 21.9% at Rs 165.3 crore and margin was at 21%, YoY.

Benchmark indices are recovered from the day's low with Nifty hovering around 11350 level.

The crucial resistance for Nifty spot is now seen at 11480 and above this 11600 Support for the immediate term is now placed at 11200 next support will be 11060.

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HDFC Bank could report more than 20% growth in Q1 profit, NII

HDFC Bank, which has the highest weightage in the Nifty50, is expected to report more than 20 percent growth in profit, net interest income (NII) and pre-provision operating profit on July 20.

Loan growth could also be healthy, driven by corporate advances who may provide strong support after the NBFC slowdown. However, there may be a slight slow-down of growth on the retail book.

HDFC Bank fell 1.16 percent ahead of June quarter earnings, but in last nine months, it gained 21 percent, giving major support to benchmark indices.

"NII is expected to grow by 25 percent YoY driven by stable NIM and healthy loan book growth. The NIM is expected to be stable even with rising cost of fund on account of increase in unsecured high yielding portfolio," said Narnolia which expects profit growth at 24 percent and pre-provision operating profit at 25 percent YoY for the quarter.

The brokerage expects income growth from fees to remain moderate, given that it is impacted by regulatory changes in mutual fund distribution fee income.

However, the bank's management had earlier said it expects the growth of 15-16 percent in fee income at some point of time going ahead.

According to ICICI Direct, profit growth is likely to be around 23.4 percent, NII at 22.4 percent and pre-provision operating profit 25.8 percent in Q1 compared to year-ago.

"Advances run rate is expected to slow down at around 17 percent YoY. The retail segment, which has been the growth engine in recent quarters, is seen remaining behind led by a cautious approach in unsecured lending products and a slowdown in auto sales. Corporate segment growth may remain healthy as the bank continues to remain a beneficiary of NBFC slowdown, as seen last quarter," ICICI Direct said, adding that asset quality is expected to remain steady.

Motital Oswal also said asset quality is expected to remain stable, with gross non-performing assets at around 1.3 percent for Q1 FY20.

Key issues to watch for would be the outlook on SME and retail book as management indicated some stress in same, and trends in digital banking/payments and various initiatives.

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Closing Bell: Indices end at 2-month low, Sensex sinks 560 pts, Nifty holds 11,400.

Benchmark indices ended at two-month low on July 19 after Finance Minister Nirmala Sitharaman dashed hope of a tweak in FPI surcharge. Continued asset quality concerns in Q1 also spooked markets.

The BSE Sensex was down 560.45 points or 1.44 percent at 38,337.01 and the Nifty50 plunged 177.60 points or 1.53 percent to 11,419.30. About three shares declined for every share rising on the BSE.

The broader markets also traded in line with benchmarks as the Nifty Midcap cracked 2.15 percent and Smallcap index declined 1.8 percent.

All sectoral indices ended in red, losing 1-3 percent. Nifty Bank lost 660 points.

HEADLINES OF THE DAY

HDFC Bank, Amara Raja Batteries, Future Lifestyle Fashions, United Nilgiri Tea Estates Company and Avanti Feeds will declare their earnings on July 20.

Punjab National Bank said it would consider raising up to Rs 5,000 crore via QIP/FPO/Rights Issue on July 25.

RBL Bank Set for the Biggest one-day fall ever

Sensex' fall of more than 500 points on Friday is the third biggest in 2019.

Reliance Jio Pips Airtel to Become India�s 2nd largest mobile operator in May: TRAI.

The crucial resistance for Nifty spot is now seen at 11280 and above this 11100 Support for the immediate term is now placed at 11600 next support will be 11820.

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Investment trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. 

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Closing Bell: Nifty gains for 3rd day but fails to hold 11,700; Midcap index underperforms.

Benchmark indices continued to gain for third consecutive session with the Nifty reclaiming 11,700 level intraday, driven by banks, FMCG and IT stocks.

The BSE Sensex was up 84.60 points at 39,215.64 and the Nifty50 rose 24.90 points to 11,687.50 while Nifty Bank gained 165 points.

But the market breadth was in favour of bears as about 1,350 shares declined against 1,099 advancing shares on the BSE.

HEADLINES OF THE DAY

ICICI Lombard General Insurance said Vishal Mahadevia resigned as Non-executive, Independent Director of the company.

Housing finance firm Home First Finance Company (HFFC) is mulling worth Rs 1,500-crore initial public offer, reports suggest.

Kotak Mahindra, Indiabulls Housing, HCL Technologies were the biggest gainers, while Yes Bank, ONGC and Eicher Motors were the top losers.

Yes Bank fell nearly 9 percent from day's high of Rs 108.40 intraday on caution ahead of June quarter earnings due later today.

The crucial resistance for Nifty spot is now seen at 11800 and above this 11960 Support for the immediate term is now placed at 11500 next support will be 11360.

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CapitalStars News Update: Demand of import duty gives pricing power to paper industry; 3 stocks could give 20-23% return

Manali Bhatia

China being the major consumer of paper worldwide at 106 million tonnes, followed by the US at 71 million tonnes and India sharing the same scale of population as in China consumes a very little share which makes us understand the fact that India has a lower penetration rate and enjoys a greater scope of growth.

Talking particularly of the packaging sector, around 55 percent of the global consumption of paper is in wrapping and packaging. India is still behind in this particular segment. Plastic used to be the first choice of manufacturers for packaging.

In the recent past, state governments have taken a series of measures to ban plastic and ensured strict compliance in plastic industry. This move has helped gain traction for paper packaging industry, though not fully scaled up yet, and would increase its demand in the coming years. Also, a robust demand in food industry, mono cartons in the pharma sector, and multiple orders online is expected to drive substantial demand for paper packaging.

Secondly, China has banned import of certain waste grade of paper owing to environmental concerns resulting in decrease of waste paper prices. India which imports around 40 percent of waste paper stands to benefit out of the same. As already India has scarcity of Pulp wood, the raw material used for manufacturing paper, and in the coming years owing to environmental concerns this scarcity is expected to shoot up further, giving pricing power to this industry. Attributes to this pricing power is also due to limited production (68.58 lakh tones) and increase in consumption (109.27 lakh tones).

Thirdly, there is a demand by major players to increase import duty on paper products, currently at 0 percent as per FTA. If it does, it would also provide benefit to this sector.

Also, the “Going digital” slogan was expected to be major slowdown in the paper sector. But, nevertheless, it should be known that paper packaging would be a boon for this industry.

JK Paper 

The last quarter has been the best for FY19. A surge in price of paper has contributed to an upside in revenue. Moreover, most of the pulp is derived from plantations close to their manufacturing units attributing to reduction in material costs and expansion of margins.


The company is having two large integrated paper manufacturing units with combined capacity of 4,55,000 TPA and is already running at 100 percent capacity utilization. At the Sirpur plant, two machines will start producing from the second quarter and the other two machines will be ready for production by September-October 2019. Thereby, the full capacity will be used for production purposes by October.

This additional expansion will help grow by at least 20 percent in volume terms. Furthermore, an expansion plan is in line for new packaging board machine and pulp mill in Gujarat, awaiting environmental clearance where an additional new board machine of 1.7 lakh tone or two lakh ton would be added.

Also, it would be putting up a pulp mill of almost 1.5 lakh ton capacity in the next two years.

The company has a healthy financial profile; the net debt has been brought down significantly to Rs 700 crore in fiscal 2018-19 and the surplus cash being generated in going ahead will be used for repaying the debts.

Huhtamaki PPL

Being having strong legacy, a unique client base and relative inelasticity of FMCG sector (derives 80-90 percent of revenue) to economic cycles, coupled with global footprint of parentage, and deep market penetration; aids company to make profits in long run.

In 2018, it suffered from extra provisioning on account of income tax and interest. However, from Q4 CY 18, most issues have been settled down and delivered vigorous Q1 CY19 results. Forthcoming, it expects topline to grow at 10-12 percent and likely to see 60-80 Bps ramp up in operating margin in the next two years. But, the margin growth depends on upcoming monsoon, scenario of FMCG sector and volatility in crude oil prices.

Increasing capacity utilization to a maximum of 80-85 percent, improving demand for flexible packaging, and NASP initiatives would enable to improve its volume growth and boost revenues as well as profits ahead. In addition, the acquisition of PPIL and Ajanta Packaging (India) would help consolidating its position in pressure sensitive label business, and is likely to be EPS accretive as well, which could help to expand strong foothold and growth too.

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Wipro buyback likely to increase EPS, investors may tender their shares

Wipro has approved buyback of 32,30,76,923 fully paid-up equity shares of face value Rs 2 each, representing up to 5.35 percent of the total number of equity shares. The buyback is fixed at a price of Rs 325 per equity share for an aggregate amount of up to Rs 10,500 crores via tender offer.

The record date for the said purpose is set to be June 21, which translates June 19 for participation in buyback. Wipro is buying back its shares at a premium of 10 percent to the current price of Rs 296.

Buyback Strategy

Wipro has always been providing rewards to its shareholders. With this buyback being fancy and retail participation hiking up further, we have estimated that the eligibility ratio would be 60-65 percent. Taking into consideration the least number of retailers that would not participate, the real acceptance ratio has been assumed higher only by 15-20 percent. So, the estimated acceptance ratio could be around 70-75 percent.

CASE A

Hedging through future not advisable

As per calculations, the estimated acceptance ratio is around 70-75 percent at the most. The retail holding (individuals holding up to Rs 2 lakh equity share capital) in Wipro is only 1.89 percent (as in March). The buyback amount being high, there is no doubt that many more investors are expected to participate in this buyback. Moreover, the low base of retail holding provides cushion for higher eligibility ratio.

We have estimated 640 as the maximum shares that can be bought at CMP at Rs 296, keeping the limit of Rs 2 lakh (as stated by SEBI). This represents the total value of around Rs 1,89,440 as the margin set aside or any price rise before record date.

The acceptance ratio being high, the remaining 25 percent shares would be hedged through future, which translates in to 160 shares (640*25 percent) that needs to be tendered in 20 accounts to match the future lot size of 3,200 shares. To have 20 different accounts for a retail investor is quite not possible. Thus, hedging is not advised in Wipro Buyback.

CASE B

Gain through tender offer - direct market purchase

Investors looking for a short-term gain can buy 640 shares at CMP at Rs 296 in the open market and give them in the tender offer. Also, one has to monitor that shareholders’ holding value should be less than the amount of Rs 2 lakh on the record date to qualify for this buyback.

As per SEBI regulations, 15 percent of the offer size will be reserved for retail shareholders (holding amount less than Rs 2 lakh). Therefore, Rs 1,575 crore (15 percent of 10,500 crore) is set for retail Investors.

Expected returns and conclusion

Though the company’s Q4FY19 performance missed estimates, the guidance growth stated by the management is not very lucrative. However, this being the third buyback for Wipro, we believe it would help increase the EPS and support the company’s share price.

The estimated acceptance ratio as per calculations is also reasonable at 70-75 percent, which makes the buyback attractive. Thus, investors may tender their shares (case B stated above) to enjoy return up to 13 percent (within two months) through this buyback opportunity, and the remaining quantity (not been accepted in buyback) may be sold in the open market.

Nifty kicks off January series above 10,850; Sensex up 269 pts; Nifty Pharma surges. 28 Dec 2018

Capitalstars Financial Research pvt. ltd.

Its a consecutive session of positive close for the market on Friday. The Nifty has kicked off January series on a strong note, ending above 10,850-mark. 

Strong global cues, weaker crude as well as strengthening rupee were some of the primary factors behind the markets rally. 

At the close of market hours, the Sensex was up 269.44 points or 0.75% at 36076.72, while the Nifty was higher by 80.10 points or 0.74% at 10859.90. The market breadth was narrow as 1546 shares advanced, against a decline of 1049 shares, while 163 shares were unchanged.

Sun Pharma, Vedanta, and Titan were the top gainers, while Coal India, TCS, and Bharti Infratel lost the most.

HEADLINES OF THE DAY


1- Multiplex chain operator PVR said it is planning to raise up to Rs 750 crore through issue of securities to qualified institutional buyers, for which it is seeking shareholders' nod.

2- Tata Steel BSL (earlier known as Bhushan Steel) shares rallied nearly 7 percent intraday after CARE assigned AA rating for company's bank facilities.

3- Shree Cement gained half a percent after CARE reaffirmed its rating as A1+ for company's commercial paper worth Rs 600 crore.

4- Kansai Nerolac Paints shares gained a percent intraday after the acquisition of construction chemical company.

5- Finance Minister Arun Jaitley has said that 11 PSU banks have identified 55 foreign operations for rationalization and closure in this fiscal, according to a CNBC-TV18 report.

6- HDFC Bank shares gained 1.5 percent in morning after research house Emkay has maintained its buy call on the stock and expects to gain 18 percent to its price target to Rs 2,500 apiece.


The crucial resistance for Nifty spot is now seen at 10960 and above this 11100 Support for the immediate term is now placed at 10720 next support will be 10550.

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Bulls take charge on D-Street as Sensex ends 629 pts higher; Nifty above 10,700.

Capitalstars Financial Research pvt. ltd.

Bulls took charge right from the word go and consistently traded in the green. But intense buying in the last hour helped the market end on an even stronger note. The Nifty, not only managed to clock 10,700, but also closed above this mark.

Buying was visible across all sectors, with maximum gains seen among automobiles, metals, banks, infrastructure and consumption names. In the broader market, the Nifty Midcap index ended 3 percent higher.

At the close of market hours, the Sensex closed up 629.06 points or 1.79% at 35779.07, while the Nifty rose 188.40 points or 1.79% at 10737.60. The market breadth was positive as 1,882 shares advanced, against a decline of 645 shares, while 139 shares were unchanged.
Hero MotoCorp, Bharti Airtel, and Indiabulls Housing gained the most, while Dr. Reddyâs Laboratories, and Bharti Infratel lost the most.

HEADLINES OF THE DAY

Ramco wins order: Ramco Systems has secured deal from a leading adversary air (ADAIR) services provider to the US defence forces, to manage its fleet of fighter aircraft used for highly complex training fleet and defence contract requirements.
Rating Agency CARE Ratings has reaffirmed CARE A1+ rating on Shree Cements’ Commercial Papers of Rs 300 crore.
Torrent Power has ought a nod from Gujarat regulator to hike tariffs so that it could offset under-recoveries. The company said that the tariff hike will help it recover Rs 275 crore.

ACC Board Grants Nod to set up a greenfield integrated cement plan at Ametha.
Zydus Wellness to acquire Heinz India: Shares of Zydus Wellness gained 2 percent on Wednesday after company received CCI approval for acquisition of businesses of Heinz.

The crucial resistance for Nifty spot is now seen at 10880 and above this 10960 Support for the immediate term is now placed at 10620 next support will be 10500.

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Sensex ends 572 pts lower, Nifty holds 10,600; Maruti Suzuki, RIL, Yes Bank major losers.

Capitalstars Financial Research pvt. ltd.

Benchmark indices remained under pressure throughout the session with Nifty ended just above 10,600 level, while Sensex lost 570 points.
The Sensex was down 572.28 points at 35,312.13, while Nifty was down 181.70 points at 10,601.20. About 745 shares have advanced, 1778 shares declined, and 150 shares are unchanged.
Maruti Suzuki, Tata Motors, Yes Bank, Reliance Industries and Adani Ports are the major losers on the Sensex.

HEADLINES OF THE DAY

Oil prices are trading lower after Saudi Energy Minister statement with Brent crude oil is trading around USD 61 per barrel.
RBI likely to keep policy rates unchanged for the rest of FY19: Anand Rathi.
Allahabad Bank to raise funds: The company approved raising equity capital by an amount aggregating upto Rs 3054 through preferential issue of equity shares to the Government of India.

Muthoot Finance shares fell more than 10 percent after the asset quality deteriorated in the quarter ended September 2018.
All sectoral indices traded in the red in afternoon with Nifty Bank, Auto, FMCG, Financial Service, FMCG, Metal and Realty falling 1-2 percent.

Reliance Capital constitute search & selection committee for CEO.
Alembic Pharmaceuticals board meet outcome: The Board of Directors of Alembic Pharmaceuticals at its meeting held today has approved the issue of Unsecured Listed Redeemable Non-Convertible Debentures (NCDs) of upto Rs 500 crore on Private Placement basis.

Manappuram Finance will be considering a fund raising issue through NCDs on December 11, 2018.
Aurobindo Pharma extends losses: Aurobindo Pharma shares fell 5.6 percent intraday Thursday on top of 3 percent loss seen in previous session after a media report indicated that the company named in a lawsuit for selling adulterated irbesartan products.

The crucial resistance for Nifty spot is now seen at 10800 and above this 10960 Support for the immediate term is now placed at 10510 next support will be 10420.

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Sensex closes over 100 points lower, Nifty below 10,900; IT stocks gain.

capitalstars Financial research pvt. ltd.

Shares have closed lower, amid caution ahead of RBI’s monetary policy committee meeting outcome on Wednesday. Uncertainty over US-China trade truce has also weighed on indices. 

Among sectors, weakness was visible among automobiles, banks, consumption and infrastructure names, while IT and pharma index ended in the green. The Nifty Midcap index was lower by around one-third of a percent. 

At the close of market hours, the Sensex closed down 106.69 points or 0.29% at 36134.31, while the Nifty was lower by 14.30 points or 0.13% at 10869.50. The market breadth is negative as 1154 shares advanced, against a decline of 1393 shares, while 143 shares were unchanged.

ONGC, Wipro, and BPCL were the top gainers, while Sun Pharma and M&M lost the most.  

HEADLINES OF THE DAY

Uflex shares rallied 6.5 percent intraday Tuesday on receiving patent from the United States for BOPET film. Ramco System shares climbed 4.4 percent intraday after the company joined hands with KPMG Malaysia to offer HR & payroll business platform as a service (BPaaS).

Tata Motors Plans Large-scale Overhaul Of Its Sales Network.

Govt Not To Participate In LIC's Open Offer In IDBI Bank.

IL&FS New Board Says Group-level Resolution For Crisis, Debt Unlikely.

IDBI Bank Tuesday said government will not participate in LIC's open offer to acquire 51 percent stake in the bank.

The crucial resistance for Nifty spot is now seen at 10920 and above this 11200 Support for the immediate term is now placed at 10700 next support will be 10590.

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D-Street ends rangebound day on a flat note, Nifty holds 10,550; pharma, IT crack.

Capitalstars Financial Research Pvt. ltd.

The market ended the rangebound session on flat note, with the NIfty finishing above 10,550.
The Sensex is down 2.50 points at 35141.99, while Nifty down 6.20 points or 0.06% at 10576.30.
About 1174 shares have advanced, 1397 shares declined, and 138 shares are unchanged.

HEADLINES OF THE DAY

NBCC ready with new joint development policy, say sources.
IDBI Bank Q2 result: Net loss at Rs 3,602.5 crore against loss of Rs 198 crore. Gross NPA at 31.78% and Net NPA at 17.3%.

Kaveri Seeds Q2: Net Profit shed 43 percent at Rs 11.9 crore against Rs 20.9 crore. Revenue rose 8 percent at Rs 75.2 crore versus Rs 69.6 crore, YoY.
Rupee Update: The Indian rupee erased some of its gains as it is trading at 72.16 per dollar after hitting 72 mark in the early trade.

Central Bank Q2 result: The company has posted net loss at Rs 923.6 crore against loss of Rs 750.4 crore. Gross NPA at 21.48 percent versus 22.17 percent, QoQ.
M&M Q2 net profit up 26% YoY at Rs 1,778.75 crore; tractor revenues grow 1.8%
Cadila received final approval: Zydus Cadila received final approval from the USFDA for Arsenic Trioxide Injection.

The crucial resistance for Nifty spot is now seen at 10640 and above this 10800 Support for the immediate term is now placed at 10410 next support will be 10280.

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Sensex ends over 300 points higher, Nifty closes above 10,550; Eicher Motors up 6%.

Capitalstars Financial Research Pvt. Ltd.

It’s a good end to the trade on Tuesday, with the Nifty closing at 10,582.
In terms of sectors, energy, infra, metals, banks and automobiles were the top gainers, while pain was seen in the pharmaceuticals’ space. The midcap index, too, ended on a positive note, closing over one-third of a percent higher.
At the close of market hours, the Sensex ended up 331.50 points or 0.95% at 35144.49, while the Nifty closed up 100.30 points or 0.96% at 10582.50. The market breadth was narrow as 1,305 shares advanced, against a decline of 1,283 shares, while 150 shares were unchanged.
Shares of NTPC, ICICI Bank, Eicher Motors and IOC were the top gainers, while Sun Pharma and Tata Motors lost the most.

HEADLINES OF THE DAY

United Bank of India's second quarter (Q2FY19) net loss widened to Rs 883.2 crore against Rs 344.8 crore in a year ago period. The company had posted a net loss of Rs 388.68 crore in the quarter ended June 2018.
RBI may keep repo rate unchanged in rest of FY19: Report.
Reliance Infrastructure wins arbitration award: Reliance Infrastructure has won Rs 16.14 crore arbitration award against National Highway Authority of India (NHAI).

Eicher Motors strike called-off: The entire workforce at Royal Enfield’s Oragadam facility reported to work today, bringing an end to the strike, effective November 13, 2018. All three plants of the company are now operational at their full capacity.
Apollo Tyres Q2: Consolidated net profit rose 4 percent at Rs 146 crore against Rs 140.2 crore, revenue was up 22.5 percent at Rs 4,257.4 crore against Rs 3,476.6 crore, YoY.
RITES Q2 result: Net profit rose 59.4 percent at Rs 116.7 crore against Rs 73.2 crore. Revenue was at Rs 433.3 crore against Rs 195.2 crore, YoY.

The crucial resistance for Nifty spot is now seen at 10640 and above this 10800 Support for the immediate term is now placed at 10410 next support will be 10280.

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