Sensex settles 86 points higher at 43,443 levels, gains 11% in Samvat 2076

All that happened in the markets today.

12:02 PM

BROKERAGE VIEW | ICICI Securities on Apollo Hospitals

RATING: HOLD | TARGET PRICE: Rs 2,310 

Besides strong healthcare pedigree and asset base the company owns one of the best Pharmacy models that provides an overall cushion in difficult times. We value the stock on an SOTP basis by valuing the healthcare business (existing hospitals & JV) at 15x FY23E EV/EBITDA, healthcare (new hospitals) and pharmacy business at 1.5x and 2x FY23E EV/sales respectively. We have a target price of Rs 2,310. Given the rich valuations we downgrade the stock to HOLD. Besides, we also need to consider the possible dilution impact due to proposed QIP and deployment of funds.

12:01 PM

BROKERAGE VIEW | Prabhudas Lilladher on Coal India

Rating: HOLD | TP: Rs 132 

Street is enthused by 25%+ volume growth posted by COAL in past couple of months. However, that is largely led by equally weak base. We expect growth to taper off to 7% November onwards due to improved base. In spite of attractive on valuations (EV/EBITDA at 2.5x FY22e), stock would continue to underperform due to frequent stake sale by Govt. Admittedly, Govt may not look to sell stake at current levels. However, upside would be restricted as Govt may look to sell at Rs136-140, the price at stake sold in last ETF. In light of overhang on continuous stake sale and weak outlook on E-auction segment, we maintain Hold rating with TP of Rs 132.

11:57 AM

BROKERAGE VIEW | YES Securities on Aurobindo Pharma

RATING: BUY | TARGET PRICE: Rs 1,030 

Natrol sale deal which leaves surplus cash – a change from net debt situation a month back. We are ~5% ahead of consensus on FY22 EPS and reckon most of the upsides are to be had from persistent earnings delivery supported by modest PE rerating. We upgrade from Reduce and prior TP of Rs710. Escalation of Unit VII observations is key risk as it could jeopardize new approvals for the oral solids unit.

11:54 AM

Jubilant FoodWorks hits new high on healthy operational performance in Q2

Shares of Jubilant FoodWorks hit a record high of Rs 2,475.65, soaring 6 per cent on the BSE in the intra-day trade on Friday, after the company reported a healthy operational performance for the quarter ended September 2020 (Q2FY21). The stock has surpassed its previous high of Rs 2,465 touched on November 9, 2020. In the past three months it has gained 30 per cent as compared to a 13 per cent-rise in the S&P BSE Sensex. READ MORE

11:46 AM

Dhanteras 2020 :: How to trade jewellery-related stocks

Shares of gems and jewellery companies were trading higher in the late morning deals on Friday. Dhanteras, which is considered as the most auspicious day in Hindu calendar for buying items ranging from precious metals like gold and silver to utensils, is being celebrated on Thursday and Friday this year. READ MORE

11:35 AM

BUZZING STOCK :: Apollo Hospitals surges 8%

11:25 AM

Atmanirbhar Bharat 3.0 :: Realty stocks extend gains post FM's housing boost

11:17 AM

Eicher: Near term margin pressures, volume key metrics to keep track of

The September quarter (Q2) performance of Eicher Motors was a tad ahead of expectations, led by the recovery in volumes at its two-wheeler (Royal Enfield) and commercial vehicle (CV) unit. Following a 67 per cent decline in revenues in the June quarter, there was a sequential improvement, with the top line declining by 3 per cent in Q2. READ MORE

11:04 AM

Broader market check :: BSE Smallcap index hits 52-week high

At 10:38 am, the S&P BSE Smallcap index, the top gainer among broader indices, was up 0.58 per cent at 15,557 points, as compared to a marginal 0.08 per cent rise in the S&P BSE Sensex. The smallcap index hit a 52-week high of 15,567, surpassing its previous high of 15,461.62, touched on September 17, 2020. READ MORE

10:54 AM

India's economy is reviving and festive season's online sales show it

In the run-up to the festival, retailers including Amazon.com Inc. and Walmart Inc.’s Flipkart saw a 55% jump in online sales from a year ago to $4.1 billion, according to estimates from consultant RedSeer for the period Oct. 15-21. Data compiled by Bloomberg showed an increase in new vehicle registrations during October, while a separate gauge pointed to a rise in credit card transactions much ahead of the holidays. READ MORE

10:45 AM

PSU Banks drag

10:36 AM

Eicher Motors rallies 5%, hits fresh 52-week high post Q2 results

Shares of Eicher Motors hit a fresh 52-week high of Rs 2,465, up 5 per cent on the BSE in the early morning trade on Friday in an otherwise subdued market on strong management commentary. In the past week, the stock has rallied 15 per cent, against a 3 per cent rise in the S&P BSE Sensex. The management said production levels are at 70,000 units/month now, while bookings number were encouraging at 1.25 lakh units, including 8,000 units for newly-launched Meteor. The company has a robust order book and booking numbers are ahead of pre-covid levels, it said. READ MORE

10:25 AM

MARKET UPDATE:: Sensex pares losses

10:15 AM

Indiabulls Real Estate extends gains as Jhunjhunwala's firm buys stake

On November 12, 2020, Rare Enterprises, owned by ace investor Rakesh Jhunjhunwala, purchased 5 million equity shares, or 1.1 per cent equity stake, in Indiabulls Real Estate via open market transaction. Rare Enterprises bought shares worth of Rs 28.86 crore at price of Rs 57.73 per share, bulk deals data available on the NSE showed. READ MORE 

10:12 AM

BROKERAGE VIEW | ICICI Securities on Ashoka Buildcon

RATING: HOLD | TARGET PRICE: Rs 75 

We are impressed by ABL’s continued improvement in leverage at standalone levels and execution recovery. However, the SBI-Macquarie stake exit stays the key overhang on the company. We believe asset monetisation will be key for rerating of EPC business multiples. We conservatively build in construction revenue growth at 4.7% CAGR to Rs 4,316 crore in FY20-22E. We maintain HOLD rating on the stock with an SoTP-based target price of Rs 75.