Sensex zooms 380 pts, ends at record high on US stimulus cheer, Brexit deal

All that happened in the markets today

11:06 AM

Global Auto Sector Outlook 2021: Credit Suisse

Following a decline from 2018 to 2020 that was subsequently worsened by COVID-19, we expect global auto demand to return to growth from 2021. We forecast full-year global demand to drop 14.4% YoY for 2020. With global demand then starting to recover, we expect demand in 2021 to return to growth, estimating +10.1% YoY with solid recoveries in the US and China while maintaining a cautious stance on Europe, followed by +5.5% YoY and +3.0% YoY in 2022 and 2023. We expect each of the core Asian markets to either maintain solid levels or recover following the sharp downturn in 2020.

luxury car, automobiles

11:04 AM

Jefferies on healthcare sector

We expect FY22 to be a recovery year for India Healthcare as operations continue to normalize post the Covid hit of FY21. With limited volume growth, large hospital chains will focus on case-mix and cost savings to drive EBITDA growth to FY23.

Our proprietary ratings framework weighs growth, risk and valuation for our coverage. Apollo is lowest risk given its pan-India footprint but captured in price. Initiate with BUY for Max and HOLD for Apollo and Fortis.

 

11:01 AM

ICICI Securities on multiplexes

Multiplexes are beneficiaries of rising income levels and spend on entertainment and family outing. They have evolved from being just movie theatres to that plus restaurants. Investors are concerned about the rise of streaming apps and direct digital releases of movies, we think India market is different and digital does not

impact multiplex prospects.

In fact, Covid could turn into a blessing in disguise for strong theatre chains that benefit from consolidation and rise in occupancy on normalisation. We remain positive on the sector and initiate coverage on PVR (target price: Rs,1679) and INOX (target price: Rs424) with BUY rating on both.

11:00 AM

Paisalo Digital soars 20% after SBI Life buys 9% stake

Shares of Paisalo Digital soared 20 per cent to Rs 624.70 on the National Stock Exchange (NSE) in intraday trade on Monday, after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market. In the past two trading days, the stock has moved up 26 per cent. READ MORE

10:52 AM

Emkay Global on telecom sector

10:47 AM

MARKET COMMENT :: Chris Wood of Jefferies on Bitcoin

The long-established trend that investors are driven to invest in a stock the more it goes up in price, and the more “liquid” it becomes, also has extremely bullish implications for Bitcoin. The more liquid trading in Bitcoin becomes the more it is an increasingly viable “store of value” for the many institutional investors, not to mention hedge funds and family offices, who want such a hedge.

Christopher Wood

10:40 AM

A story of revival amid Covid-19: People stayed home but bulls ran wild

It was a year characterised by wild swings. While slowing economic growth was a worry, the onset of the Covid-19 pandemic caused a crack that led India's leading indices to lose more than a third of their value in less than five weeks. The indices staged a sharp recovery after May, and are set to end 2020 with gains of more than 80 per cent over March 23 lows, largely driven by easy liquidity sloshing across the globe and the resulting deluge of overseas inflows. READ MORE

10:31 AM

Market flush with IPO but small firms struggled to raise capital in 2020

Small and medium enterprises (SMEs) struggled to raise money from the stock market this year as larger ones gained from an influx of liquidity. The SME segment raised Rs 159.1 crore in 2020, shows data from primary market tracker Prime Database. This translates into a 0.63 per cent share of the total money raised through initial public offers, according to data till November. This is the first time that that the SME’s share of IPO funds has dropped below one per cent since a separate segment for such companies began in 2012. READ MORE

10:22 AM

Firstsource Solutions jumps 16% to hit new high; stock zooms 48% in 4 days

Shares of Firstsource Solutions rallied 16 per cent to hit a fresh record high of Rs 106.40 on the BSE on Monday on the back of heavy volumes. The stock of the global provider of Business Process Management (BPM) services has zoomed 48 per cent in the past four trading sessions. On Thursday, the stock hit an intra-day high of Rs 94, surpassing its previous high of Rs 93, touched on May 15, 2007. READ MORE
 

10:09 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(%)
VODAFONE IDEA	10.31	2.08
SUZLON ENERGY	5.67	5.00
PUNJAB NATL.BANK	31.65	0.64
DISH TV INDIA	14.30	-3.51
FIRSTSOUR.SOLU.	106.25	15.61

10:00 AM

MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The market appears to be back on "Buy on dips mode" aided by sustained FII buying. An important trend is the increasing strength of financials, particularly private sector banking stocks. Data and indications from top bankers suggest that the banking sector is reviving quicker than expected. NPAs in the banking system is likely to be much lower than initially feared. This explains the rising delivery based buying in frontline banking stocks. The market is all set to scale another record high.

9:56 AM

Tata Motors gains 4% after UK, EU agree historic Brexit trade deal

Shares of Tata Motors rose 4 per cent to Rs 183.50 on the BSE on Monday after the United Kingdom (UK) and the European Union negotiators finalized their historic post-Brexit trade agreement. The European Union so far has been a ‘single market,’ for the Tata Motors-owned Jaguar Land Rover (JLR) but this is set to change after the UK’s exit from the European Union. Meanwhile, in the past two trading days, the stock of Tata Motors had climbed 8.5 per cent after the company maintained profitability guidance for its luxury car maker JLR. READ MORE

9:42 AM

Paisalo shares rally 17% as SBI Life picks stake in firm

• SBI Life Insurance Company on Thursday said it has acquired nearly 9 per cent stake in non-banking finance company Paisalo Digital for about Rs 186.20 crore through the open market.
   
• SBI Life has acquired a total of 38,00,000 equity shares equivalent to 8.99 per cent at Rs 489.99 per share for a cash consideration as an ordinary course of business on the stock exchange on December 24, it said in a regulatory filing.

9:40 AM

SECTOR WATCH:: Nifty Metal index up 2%

9:36 AM

Ultratech shares edge higher on fund raising plans

The company is considering a proposal to raise funds through the issue of 10,000 rated, listed, non-convertible, redeemable, unsecured NCDs worth Rs 10 lakh each, aggregating to Rs 1,000 crore on a private placement basis, on or after December 30, 2020.