MARKET WRAP: Sensex up 227 pts, mid-cap rally continues; metal stocks gain

All that happened in the markets today

10:45 AM

BROKERAGE RADAR | ICICI Securities on AU Small Finance Bank

While AU is on the right track to sustain industry-leading growth and maintain robust asset quality, we believe current valuation captures most positives such as high growth, superior execution track record and best-in-class asset quality. We, thus, maintain our HOLD rating with a revised target price of Rs 980, valuing the stock at 5x Sep’21E BVPS.

Key upside risk: Margin expansion on the back of significantly higher incremental yields.

10:39 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	5.86	-0.05	-0.85	7851723
YES BANK	42.80	1.85	4.52	4628364
RELIANCE POWER	2.27	0.10	4.61	3525140
SUZLON ENERGY	2.51	-0.03	-1.18	785497
ADANI GAS	162.60	-10.25	-5.93	611628

10:24 AM

Zensar Technologies stock plunges 13% on weak Q3 numbers

Shares of Zensar Technologies plunged 13 per cent to Rs 172 on the BSE on Friday after the company reported weak set of numbers for December quarter (Q3FY20) with revenues declining 5.9 per cent in dollar terms on sequential basis. Analysts had expected 1.1 per cent quarter-on-quarter (QoQ) revenue growth in US dollar terms. READ MORE

10:09 AM

MARKET CHECK:: Sensex off day's lows, up 100 pts now

10:00 AM

HCL Tech gains over 1%, trades near 52-week high level

9:53 AM

BROKERAGE RADAR | Anand Rathi Shares on Alembic Pharma

Alembic has invested nearly Rs 2 billion in new capacities (Aleor plus oncology and OSDs) aiming to diversify its product range in the US and improve the quality of its filings. Further, a turnaround in its India base is likely to help maintain double-digit growth for the next few years. We upgrade the stock to a Buy, with higher price target of Rs 740 (earlier Rs 624), based on 18x FY22e EPS.

Risks: Regulatory hurdles, delay in product approvals, pricing risk in India.

9:49 AM

BROKERAGE RADAR | Centrum Broking on Asian Paints

Considering benign input cost environment and lower corporate tax rate we maintain our FY20E/FY21E and introduce FY22E estimates. We retain Buy rating with revised DCF-based target price Rs 2,057, implying 54x FY21E earnings. Key risks to our call include weak demand conditions due to a slowing economy, rise in crude oil prices and currency depreciation. 

9:49 AM

Public sector banks trade higher

9:48 AM

BROKERAGE RADAR | Prabhudas Lilladher initiates coverage on Godrej Agrovet

Rating: BUY | CMP: Rs 555 | TP: Rs 659

 

Company Initiation - Play on uptick in Agri growth

We believe Godrej Agrovet (GOAGRO) is an integrated play on Agri with strong presence in Animal Feed (51% of revenue), Crop Protection (16%) and Palm Oil (9%) business. GOAGRO's unique blend of high growth and mature businesses with market leadership in organized animal feed and oligopolistic positioning in palm oil will enable it to scale up business further by keeping working capital under check. We believe strong Agri commodity and dairy prices will enable Animal Feed, Oil Palm and Crop protection business to report significant acceleration in growth in FY21. We estimate 12% revenue CAGR and EBITDA margin improvement of 160 bps between FY20-22E which will enable 29% PAT CAGR. At CMP the stock is trading at 13.9x & 22.9x FY22 blended EV/EBITDA & P/E.

9:44 AM

BROKERAGE RADAR | Momentum picks by ICICI Securities

9:44 AM

MARKET UPDATE:: Nifty reclaims 12,200 level

9:39 AM

Powergrid slides 3% in early trade

9:37 AM

Asian Paints up 1%

9:27 AM

Adani Group stocks trade under pressure

COMPANY NAME	LATEST	CHG (rs)	CHG(%)
ADANI GAS	158.30	-14.55	-8.42
ADANI ENTERP.	224.90	-4.75	-2.07
ADANI GREEN	182.95	-9.40	-4.89
ADANI POWER	63.05	-0.20	-0.32
ADANI TRANSMISSI	327.00	-5.55	-1.67
ADANI PORTS	382.20	-3.70	-0.96

9:25 AM

Indiabulls Housing Fin advances over 2% after foreign brokerage firm Credit Suisse bought stake

>> Firm bought 22,93,306 shares of the company