MARKET WRAP: Indices end flat, Nifty settles at 10,934; Hero MotoCorp up 3%

All that happened in markets today

The benchmark indices ended on a flat note on Tuesday. The S&P BSE Sensex ended at 36,617, up 34 points or 0.09 per cent, while the broader Nifty50 index settled at 10,934, up 22 points or 0.20 per cent.
 
Among sectoral indices, the Nifty Auto index was among the top gainer of the day which settled 0.87 per cent higher led by gains in Hero MotoCorp, Bajaj Auto and Maruti Suzuki.

In the broader market, S&P BSE MidCap index ended 79 points or 0.54 per cent lower at 14,442, while S&P BSE SmallCap index settled at 13,662, down 126 points or 0.9 per cent.

BUZZING STOCKS

Shares of Punjab National Bank (PNB) settled at Rs 73.45, up 0.41 per cent on the BSE after the public sector lender reported a 7.12 per cent year-on-year (y-o-y) rise in its net profit at Rs 246.51 crore for December quarter of financial year 2018-18 (FY19). It had posted a profit of Rs 230.11 crore in corresponding period last fiscal.

Shares of Jubilant FoodWorks, the operator of Dominos Pizza chain in India, ended at Rs 1,305, down 6.33 per cent on the BSE after the company was found guilty of not passing on Goods and Services Tax (GST)-cut benefits amounting to Rs 41.42 crore on sale of some pizza products. It has been directed to deposit the illegal gains with the government.

GLOBAL MARKETS

Asian stocks extended gains on Tuesday as overnight strength on Wall Street and the Federal Reserve's cautious turn underpinned appetite for riskier assets, while the dollar held firm on last week's upbeat US data.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.5 per cent and hovered near its four-month high marked on Friday. Japan's Nikkei average marked its highest level in seven weeks at one point but finished the day down 0.2 per cent.

(with Reuters input)

3:42 PM

Sectoral gainers and losers of the day on NSE

3:38 PM

Gainers and losers of the day on S&P BSE Sensex

3:34 PM

Market at close

The S&P BSE Sensex ended at 36,617, up 34 points or 0.09 per cent, while the broader Nifty50 index settled at 10,934, up 22 points or 0.20 per cent.

3:23 PM

Suzlon Energy issues clarification

3:20 PM

Shares of Suzlon Energy tanks 23%

3:11 PM

A hide-and seek-game that's disrupting property rental brokerage business

The company doesn't display its nameplate publicly. It discourages its employees from flashing their company ID cards. As if this were not enough, the firm has, quite painstakingly, also changed its office location on Google map. If you're imagining the company is engaging in any illegal activity and trying to dodge the law, you couldn't be further from the truth. It is, instead, a huge disruptor and its battle is against deeply-entrenched incumbents. READ MORE

3:00 PM

GAIL third-quarter profit soars 33 percent, beats estimate

State-owned gas distribution company GAIL (India) Ltd on Tuesday reported a 33.2 percent jump in third-quarter profit, beating market estimate, buoyed by a surge in revenue from its natural gas marketing segment.

 

Profit for the quarter ended Dec. 31 came in at 16.81 billion rupees ($234.32 million), compared with a profit of 12.62 billion rupees last year, the company said. READ MORE

2:57 PM

Bharti Airtel off day's low

2:48 PM

Anil Ambani's bankruptcy filing may have a clear winner, his elder brother

In a twist to the tale of two rival billionaire brothers in India, a bankruptcy filing by Anil Ambani’s wireless carrier could have one clear winner -- his elder sibling’s disruptive mobile phone unit. READ HERE

2:45 PM

Nifty Realty index is trading over 2% lower weighed by Indiabulls Real Estate

2:35 PM

Top gainers and losers on S&P BSE Sensex

2:19 PM

Were Jeff Bezos' plans to dominate Indian e-commerce ambushed by Ambani?

Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election.

 

The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the U. S. giants. On cue, India this month rolled out constraints on foreign e-commerce players including Amazon and Walmart-owned Flipkart, which together control 70 percent of its online shopping. The tighter rules, aimed at protecting small traders, may end up benefiting the country’s richest man, Mukesh Ambani, who is building a home-grown competitor. READ MORE

1:57 PM

Market check

1:51 PM

ICICI Securities on Exide Industries

Going forward, over FY18-20E, we expect sales and PAT to grow at a CAGR of 10.4 per cent & 11.2 per cent, respectively. We value EIL at Rs 235 on SOTP basis; Rs 195 i.e. 20x FY20E EPS of Rs 9.8/share (base business) + Rs 36 i.e. 1.2x embedded value of insurance business + | 4 i.e. 3.3x P/BV on smelting business. We assign HOLD recommendation.

1:46 PM

Stocks that hit 52-week low on BSE500

COMPANY	PRICE(rupees)	52 WK LOW	CHG(rupees)	CHG(%)
B H E L	60.70	60.15	-4.15	-6.40
BALKRISHNA INDS	793.25	793.25	-12.15	-1.51
BHARAT DYNAMICS	248.00	247.90	-3.80	-1.51
BIRLA CORPN.	454.95	454.95	-23.70	-4.95
CG POWER & INDU.	32.65	32.00	-4.20	-11.40