Markets settle at new high, Nifty ends above 10,700;HDFC Group shares rally

All that happened in the market today

Benchmark indices ended at  record closing highs on Monday led by stocks of private lenders, with better-than-expected growth in industrial output and a global equities rally boosting sentiment.

Industrial activity in the country, as measured by the Index of Industrial Production (IIP), brought some cheer, rising to a 25-month high of 8.4% in November from 2.2% the previous month. 

Meanwhile, Inflation based on wholesale prices eased to 3.58% in December 2017 as prices of food articles declined even as fuel cost witnessed a surge. The inflation was 3.93% in November 2017 and 2.10% in December 2016.

Asia shares ex-Japan hit historic highs after Wall Street extended its record-breaking run as banks reported solid fourth-quarter earnings and robust retail sales drove investor optimism about economic growth.

3:43 PM

Nifty Bank hits record high

3:38 PM

Sectoral Trends

3:36 PM

Sensex top gainers and losers

3:33 PM

Market at close

Benchmark indices ended at  record closing highs on Monday led by stocks of private lenders, with better than expected growth in a global equities and industrial output rally boosting sentiment.
 

The S&P BSE Sensex ended at 34,843, up 251 points while the broader Nifty-50 index settled the day at 10,741, up 60 points

3:19 PM

PE investments jump 55% to all-time high of $24 bn across 591 deals in 2017

 

Private equity firms invested $23.8 billion across 591 deals in 2017, making it the biggest year for PE investments in India, says a report.

 

According to deal tracker Venture Intelligence, the investment value is 39 per cent higher than the previous high of $17.1 billion (recorded in 2015) and 55 per cent higher than $15.4 billion invested during 2016. Read more

3:10 PM

Infosys Q3 results: Volume growth provides stability to performance

 

The third quarter results of FY18 results for all IT companies will be driven by seasonality and hence will be muted as compared to the results posted in H1FY2018. We expect the top-tier companies to grow 0.9-2.5% Q-o-Q, during the quarter. Infosys was not expected to deliver any extraordinary results for the quarter, especially when the company had already downgraded its full-year guidance to 5.5-6.5% y-o-y CC growth, which implies an ask rate of 0.4-1.6% CC Q-o-Q growth for H2FY2018.

 

For the quarter, we went with the expectations that the company will post 1% sequential growth in US dollar revenues to $2,755 million. EBITDA margins were expected to show a downtick of about 7bps Q-o-Q to 26.7%, while EBIT was expected to have a downtick of 39 bps Q-o-Q to end the period at 23.8%, towards the lower end of the guided 23-25%. Consequently, PAT was expected to be at Rs 35.9 billion, a dip of 3.7% Q-o-Q. Read more
 

3:03 PM

KodakOne blockchain and crypto coin: A new kind of intellectual property?

 

It’s easy to be a bit amused about Kodak’s new blockchain and cryptocurrency, the KodakOne. The old photography company is the classic case of a firm that failed to keep up with technological change.

 

But now Kodak is exploiting one of the most interesting characteristics of the blockchain (the technology behind Bitcoin) to reshape how we understand and manage intellectual property. Read more

2:46 PM

La Opala RG soars 12% on bonus issue plan

 

La Opala RG has moved higher by 12% to Rs 694 on BSE in noon deal trade after the houseware company said that its board will meet on February 5, 2018 to consider issue of bonus shares.

 

“In the next meeting of the board of directors of La Opala RG scheduled for 5th February, 2018, the board of directors may consider issue of bonus shares to the shareholders of the company which, if approved, will be subject to applicable regulatory provisions and the approvals of shareholders and others as may be required for the same,” La Opala RG said in a regulatory filing. Read more

2:30 PM

Capital expenditure done, Reliance Industries now eyes debt reduction

 

In June 2011, at Reliance Industries’ (RIL’s) 37th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani had told shareholders that RIL would be a “debt-free” company.

 

Ten months later, RIL was virtually debt-free on a net-cash basis at the consolidated level, after considering its cash and bank balances as well as investments. With its capital expenditure plan nearly completed, India's most valuable company is once again in a position in which it will start reducing debt. Click here for full story

2:17 PM

HDFC Group shares rally; HDFC, HDFC Bank, HDFC Standard Life hits new high

 

Shares of HDFC Group companies were in focus with most of the frontline stocks – HDFC Bank, Housing Development Finance Corporation (HDFC) and HDFC Standard Life Insurance – hitting their respective new highs on the National Stock Exchange (NSE) in intra-day trade on Monday.

 

These three stocks were up in the range of 2% to 7%, while Gruh Finance was trading 1% higher at Rs 510. On comparison, the Nifty 50 index was up 0.66% at 10,752 points at 01:55 pm. Read more
 

2:00 PM

SoftBank mulls $18-bn Japan wireless unit IPO to fund its tech investments

 

SoftBank Group Corp said on Monday it was considering listing its Japanese wireless business, seeking to raise a reported $18 billion in a move that would accelerate the conglomerate's transformation into one of the world's biggest tech investors.

 

A spin-off – potentially the biggest IPO by a Japanese company in nearly two decades – would also give the unit more autonomy as well as help investors with valuing the business and its parent. Read more
 

1:44 PM

HDFC: Impact of Fund raising

1:30 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,873.36	+280.97	+0.81
S&P BSE SENSEX 50	11,224.88	+78.59	+0.71
S&P BSE SENSEX Next 50	37,527.41	-30.85	-0.08
S&P BSE 100	11,268.80	+64.22	+0.57
S&P BSE Bharat 22 Index	3,811.71	+4.46

1:16 PM

Sebi has approved appointment of Vijay Kumar as NCDEX MD & CEO

 

Market regulator Sebi has approved appointment of Vijay Kumar as Managing Director and CEO of the countrys largest agri-commodity bourse NCDEX, a top official of the exchange said.

 

Kumar, a former chief business officer at NCDEX, is likely to assume the office next week.

 

The exchange's selection committee had picked his name for the MD and CEO's post from a list of 11 candidates. READ MORE

12:58 PM

Muthoot Capital Services zooms 20% on strong Q3 results

 

Muthoot Capital Services was locked in upper circuit of 20% to Rs 799 also its record high on BSE, after the company reported a more than doubled net profit at Rs 157 million for the quarter ended December 2017 (Q3FY18).

 

The company engaged in the business of financing had profit of Rs 64 million in the same quarter last year.

 

Net interest income (operational revenue minus finance costs) grew 68% at Rs 730 million against Rs 434 million in the corresponding quarter of previous fiscal. READ MORE