MARKET: Sensex sees 1,300-pt intra-day swing; ends 153 pts lower at 38,144

All that happened in markets today

1:07 PM

Feb Auto Sales | Atul Auto's total sales decline 28% YoY to 2,950 units

1:05 PM

NEWS ALERT | NMDC February production down 3% YoY at 3.24 MT vs 3.34 MT: BSE filing

-- Sales down 17.8% YoY at 2.91 MT vs 3.54 MT

1:02 PM

COMMODITY OUTLOOK | View on Gold by Hareesh V, Head of Commodity, at Geojit Fin Services

Gold will remain positive due to increased safe haven demand amid economic fears due to the virus outbreak in China, feeble global equities and a weak US dollar. Meanwhile, higher level profit booking and concerns over physical demand from top consumer China and India likely to weigh down the sentiments.

 

Technical outlook: As long as $1560 hold the downside, expect continuation of the momentum towards $1592 initially followed by $1610 levels. However, an unexpected drop below $1554 could weaken the sentiments. 

12:58 PM

Feb unemployment rate hits 4-month high of 7.78% as slowdown persists: CMIE

India's economy expanded at its slowest pace in more than six years in the last three months of 2019, with analysts predicting further deceleration as the global coronavirus outbreak stifles growth in Asia's third-largest economy. READ MORE  

12:52 PM

SBI Cards IPO | Issue subscribed 13% so far on Day 1

12:50 PM

To what extent will coronavirus outbreak rewire global trade dynamics?

Companies have about two weeks or a month of inventory on hand usually, though stocks are often piled up in advance in January precisely because of the Chinese holiday. But, either way, unless shipments resume swiftly, companies across the world will begin to run out of inputs in the middle of March. READ MORE

12:40 PM

Bigbasket aims to go for IPO by 2023, cross Rs 7,000 cr in revenue in FY21

Online grocery firm Bigbasket aims to go for an initial public offering (IPO) by 2023, by when it strives to have Ebitda-positive financials. Ebitda, or earnings before interest, taxes, depreciation, and amortisation, shows the operating and is an important parameter as it depicts the health of a business and whether it is able to generate cash after meeting its operational expenses. READ MORE

12:33 PM

SECTOR WATCH:: Tech stocks gain

COMPANY	LATEST(rs)	CHG(%)
INFIBEAM AVENUES	56.55	0.35
INFOSYS	762.65	4.28
WIPRO	224.30	1.45
HCL TECHNOLOGIES	558.70	4.61
TCS	2053.00	2.60

12:24 PM

NEWS ALERT | Mindtree appoints Dayapatra Nevatia as Chief Operating Officer: BSE filing

12:18 PM

ACC, NBCC: These Nifty500 stocks have just exited oversold zone on RSI

A number of stocks headed towards the oversold territory last week as investor sentiment turned negative following the sharp correction witnessed in the benchmark indices for six consecutive sessions. Till Friday, as many as 160 Nifty500 stocks had entered oversold zone on the Relative Strength Index (RSI). However, as the benchmark indices opened strongly on Monday, nearly half of those 160 stocks exited the oversold territory. READ MORE

12:10 PM

NEWS ALERT | SBI Cards IPO subscribed 0.1 times till 11:45 am: CNBC TV18

12:02 PM

Bajaj Auto skids 4% on disappointing February sales; hits over 5-month low

Shares of Bajaj Auto slipped 4 per cent to Rs 2,785 on the BSE on Monday after the company reported a 10 per cent year on year (YoY) drop in total auto sales at 354,913 units for the month of February 2020. The two-wheeler maker missed analysts' expectations by a decent margin. Nirmal Bang Equities, for instance, had expected total auto sales of 382,844 units, while Emkay Global Financial Services had expected total sales of 374,000 units for the month. READ MORE

11:56 AM

BROKERAGE RADAR | Prabhudas Lilldher on Ipca Labs

With a very low risk of return per unit in comparison to peers, we maintain ‘BUY’ and retain TP Rs1,826 on PE 23x of FY22E earnings. We estimate earnings CAGR 20% over FY20-22E led by a comeback in the UK generic and tender business while maintaining US revenue contribution to remain at the current level. The positive outcome from resolution with USFDA in FY21E would lead to a further upside to our earnings estimates

11:54 AM

BROKERAGE RADAR | Emkay Global on Birla Corporation

The stock trades at 7.6x/7.2x FY21/22E EV/EBITDA and USD84/USD72 FY21/22E EV/ton. We expect EPS to witness a CAGR of 20.2% over FY19-FY23E. Even after the completion of its ongoing capex, leverage should remain under control at 0.9x in FY22E, in our view. We value BCORP at 9x FY22E core EBITDA and value posttax incentives at a WACC of 11%. We arrive at a TP of Rs967, which offers a 40% upside from CMP. We initiate coverage on the stock with a Buy rating.

Key risks: Delay in capacity expansion, lower cement prices, delay in the receipt of incentives, and a steep rise in fuel costs.

11:51 AM

MARKET UPDATE:: Sensex up 600 points