Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650

During the day, Sensex and Nifty hit the levels of 40,000 and 12,000, respectively, for the first-ever time

10:16 AM

10:14 AM

Elara Capital on Somany Ceramics

Rating: BUY

 

Target Price : INR 551

 

At a CMP of INR 365, SOMC is trading at 14.5x FY21E earnings. We believe the company is well placed to report healthy volume growth in FY20, supported by improving industry dynamics for organized firms and increment volume from newly added capacity in South India. Margin would improve, due to operating leverage. Thus, we reiterate Buy with a TP of INR 551 based on 22x FY21E earnings.

 

10:11 AM

EXPERT COMMENT: Sandip Sabharwal

10:09 AM

Larsen & Toubro rises almost 4%

10:08 AM

NEWS ALERT | Ajanta Pharma receives approval from USFDA for generic of Vesicare tablet.

10:04 AM

Banks may hold 20% in Jet Airways to make Etihad-Hinduja deal fly

Banks might agree to acquire up to a 20 per cent stake in Jet Airways as the Hinduja group is not keen to exceed its shareholding beyond 30 per cent in the grounded airline, sources close to the development said a day ahead of a crucial meeting at the Etihad headquarters in Abu Dhabi.

 

According to the plan discussed by the lenders’ consortium, led by State Bank of India (SBI), banks will hold the stake for up to two years. Subsequently, they can sell it and cash out. READ MORE

10:04 AM

EXPERT COMMENT | Shyam Sekhar

10:02 AM

Indiabulls Ventures rises over 5%

9:55 AM

EXPERT COMMENT | Vijay Kedia

9:54 AM

Canara Bank rises almost 5%

9:53 AM

Hindustan Oil Exploration rises over 1%

9:51 AM

Market Outlook by Sahaj Agrawal, Kotak Securities

After initial excitement seen early this week, Markets lost some ground on account of profit booking. We remain structurally positive on the markets and expect the markets to trade with a positive bias post elections. Any dip/correction is expected to act as a strong buying opportunity. We expect Nifty to test 12200-12500 on the higher side while meaningful support is seen at 11400 levels. Volatility is expected to remain high in the near term as index VIX trades at multi-year highs. Investors are advised to accumulate while traders can use volatility in their favor and follow a buy on dips strategy.

9:49 AM

Vedanta Limited slides almost 2%

9:47 AM

Sector watch | Infra-developers rise

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)	VALUE (rs CR)	VOLUME
GMR INFRA.	15.65	15.95	15.60	0.25	1.62	0.27	172339
ADANI PORTS	398.55	401.00	392.75	11.75	3.04	5.30	132987
GVK POWER INFRA.	7.23	7.44	7.20	0.25	3.58	0.09	127490
LARSEN & TOUBRO	1504.60	1505.00	1473.30	44.05	3.02	14.98	99584
IRB INFRA.DEVL.	128.60	130.05	127.25	3.10	2.47	0.67	52431
IVRCL	0.51	0.51	0.49	0.02	4.08	0.00	32589
ENGINEERS INDIA	114.30	115.45	113.95	1.20	1.06	0.32	27668
JAYPEE INFRATEC.	1.86	1.87	1.81	0.07	3.91	0.00	19300

9:47 AM

EXPERT COMMENT: Sandip Sabharwal