Sunday, January 05, 2025 | 05:36 AM ISTEN Hindi

MARKET WRAP: Sensex surges 1,266 pts, Nifty ends at 9,112; auto stocks jump

All that happened in the markets today.

SI Reporter New Delhi

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai (

10:27 AM

BROKERAGE VIEW:: Motilal Oswal Financial Services on InterGlobe Aviation

CMP: Rs 990 | TP: Rs 1,300 (+31%) | Reco: Neutral

For Indian carriers, typically 1Q is the strongest period while 2Q is a weak quarter. In this fiscal, as the lockdowns/shutdowns are playing out in 1Q, we expect gradual improvement in the dynamics of the Indian aviation industry only from 3QFY21.

Globally, various airline companies have withdrawn their earnings guidance indicating uncertainty in the aviation industry. Likewise, even we remain keen on hearing management guidance and commentary before taking a leap of faith in the industry/stock. We maintain Neutral on the stock.

10:24 AM

SECTOR WATCH:: Auto stocks trade higher

COMPANY	LATEST(rs)	CHG(%)
TATA MOTORS	73.55	8.80
ASHOK LEYLAND	44.85	2.40
TATA MOTORS-DVR	33.95	12.23
M & M	346.95	6.25
TVS MOTOR CO.	292.00	2.17

» More

10:22 AM

BROKERAGE VIEW:: ICICI Securities on Repco Home Finance

Current valuations at 0.35x FY21E P/BV appear very attractive, but the muted loan-book growth and the anticipated deterioration in asset quality have led to severe correction in the stock price. We still expect the company to deliver RoE of 14%-16% over FY21E-FY22E. Our target multiple of 0.6x (earlier: 1.1x) Mar’22E P/BV leads to a target price of Rs210 (earlier: Rs390). Maintain BUY. We continue to identify Repco’s past mistakes in the LAP segment and concentration/competition driven growth recovery delays as key risks.

10:12 AM

Covid-19 impact: Missing disinvestment targets will have consequences

For disinvestment to take place, there need to be a good number of buyers as well as valuation. Else, like in the past, divestment becomes an exercise of one public sector undertaking (PSU) buying into another. The challenge today is that the conditions do not look congenial and the market is just too volatile. The stock market has touched a new low post the announcement of a shutdown. There seems to be no sign of the shutdown ending or even a plan as to what should be done once this ends. Realistically speaking, FY21 will be a washout. The market is unlikely to reach the January levels anytime soon and unless it is moving in the upward direction continuously for three months, can one be assured that the valuation will be fair? READ MORE

10:07 AM

Rupee opening

Rupee opens higher at 76.10/$ vs Wednesday's close of 76.37 against the US dollar

10:00 AM

MARKET UPDATE:: Sensex holds opening gains

9:59 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
FUTURE CONSUMER	6.00	4.90
VODAFONE IDEA	3.28	2.50
TATA MOTORS	73.80	9.17
FUTURE RETAIL	67.45	4.98
RAIL VIKAS	18.50	4.40

» More on Most Active Volume

9:58 AM

IDBI Bank surges 10% on fund raise plan, proposal to sell stake in IFLI

Shares of IDBI Bank advanced up to 10.5 per cent to Rs 21.95 on the BSE on Thursday after the private lender said it has targeted to raise up to Rs 7,500 crore through rupee bond in the current fiscal. At 9:34 am, the stock pared its gains partially to trade 5 per cent higher at Rs 20.8 apiece. In comparison, the headline S&P BSE Sensex index was trading 3 per cent higher at 30,773.60 levels. READ MORE

9:57 AM

HUL dips in an otherwise strong market

9:55 AM

Cipla surges 15% on USFDA nod for first generic Proventil HFA inhaler

Shares of Cipla were locked in the upper circuit of 15 per cent at Rs 590, also its 52-week high on the BSE on Thursday after the drug firm received United States Food and Drug Administration's (USFDA) nod for the first generic Proventil HFA (albuterol sulfate) metered dose inhaler, used for conditions such as asthma. Till 09:29 am, a combined 1.79 million shares traded and there were pending buy orders for 744,000 shares on the NSE and BSE, the exchange data shows. READ MORE