MARKET WRAP: Sensex slips 39 pts; Reliance Ind, SBI decline nearly 2%

All that happened in the markets today

12:32 PM

Reliance Infra wins arbitration award of Rs 1,250 crore against DVC

A three-member arbitration tribunal unanimously gave the award in favour of Reliance Infrastructure on December 21.

 

The tribunal directed DVC to pay Rs 896 crore and return the bank guarantees of Rs 354 crore within four weeks or pay additional interest at the rate of 15 per cent per annum for any delay in payment beyond four weeks. READ MORE
 

12:21 PM

Crisil extends gain, hits 52-wk high on acquisition of Greenwich Associates

Shares of Crisil surged 7 per cent and hit a fresh 52-week high of Rs 1,921 on the BSE on Monday, extending its Friday's 1 per cent gain, after the company said it will acquire a Stamford, Connecticut-based company Greenwich Associates LLC. The $40 million acquisition will be done through Crisil's subsidiary, CRISIL Irevna US LLC and will be funded entirely through internal accruals. READ MORE

12:17 PM

BROKERAGE RADAR | Reliance Securities on UltraTech Cement

• UltraTech Cement (UTCEM) is likely to witness healthy traction ahead in the backdrop of huge capacity, likely pick up in demand scenario and steady pricing environment. 
• While unlike expectations industry’s realisation had softened sequentially in current quarter, we expect cost deflation and improvement in Century assets profitability will aid UTCEM to report steady performance in current quarter. 
• Consistent approach to trim cost along with focus on improvement in RoCE by balance-sheet deleveraging augurs well for UTCEM. Going forward, we expect demand to recover in coming months followed by increase in government spending. 
• We expect UTCEM to report EBITDA/tonne of Rs1,188/Rs1,152 in FY20E/FY21E. 
• We maintain our fundamental BUY rating on the stock with a Target Price of Rs 5000. 

12:15 PM

BROKERAGE RADAR | Emkay Global Financial Srrvices on Sun Pharma

CMP: Rs 435

 

Target Price: Rs 490

 

Rating: HOLD (up 13%)

 

The USFDA’s inspection of Sun Pharma’s Halol plant recently (December 3-13, 2019) resulted in eight observations. This is the third inspection at Halol in 2019 (the first was in Feb’19 and then in June’19, both classified NAI/VAI). We accessed the 483 letter and believe that almost all observations - barring Observation No. 1 and Observation No. 2 - are procedural in nature. There is one repeat observation (Observation No. 4). Observation No. 1 relates to OOS products, while Observation No. 2 highlights the lapses in processes to ensure complete data integrity. Both of these will require a rather comprehensive explanation/response, in our view.

12:13 PM

Sensex continues to trade flat with a negative bias

11:59 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	6.47	-0.05	-0.77	10882824
YES BANK	51.35	0.00	0.00	10646325
DISH TV	13.99	0.01	0.07	5456819
LUX INDUSTRIES	1304.25	-96.60	-6.90	1495118
RELIANCE INDS.	1568.70	-30.70	-1.92	1046268

11:51 AM

Lemon Tree's new acquisitions in India and abroad help post strong growth

The stock of Lemon Tree Hotels was up 7 per cent over the last two trading sessions after the company announced a licensing deal in Goa and expansion into the overseas markets. With a management contract for a 44-room property in Goa, the company has added its fifth property in that state, taking its room count there to 379. READ MORE

11:40 AM

Auto stocks trade higher

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
TATA MOTORS	175.95	-0.05	-0.03	778301
TATA MOTORS-DVR	73.25	0.65	0.90	312685
ASHOK LEYLAND	80.95	0.60	0.75	255805
TVS MOTOR CO.	470.10	8.90	1.93	50972
M & M	531.80	1.00	0.19	40960

11:32 AM

BUZZING STOCK:: ZEEL up 3%

11:23 AM

Lux Industries falls 7% after over 4% equity changes hands via block deals

Shares of Lux Industries slipped 7 per cent to Rs 1,301 on the BSE on Monday after more than 4 per cent equity of the hosiery company changed hands via block deals.

 

Around 1.09 million equity shares, representing 4.31 per cent of total equity, of Lux Industries changed hands via two block deals on the BSE, the exchange data shows. The name of the buyers and sellers are not ascertained immediately. READ MORE

11:18 AM

Corporate Rejig | Rajan Wadhera of M&M to retire & step down as president, Auto division

>> M&M says, Hemant Sikka will head the farm equipment sector.

>> Veejay Nakra to be appointed CEO of auto division. 

11:16 AM

NEWS ALERT | Fiscal deficit target of 3% may be pushed by 2 years: Govt official via Agencies

11:15 AM

NEWS ALERT | Need more fiscal space in FY21 for Infra push: Govt official via Agencies

>> See higher spending in FT21 for Rs 100 lakh crore Infra push

11:07 AM

KEC International gains 3% on winning new orders worth Rs 1,520 crore

Shares of global EPC major KEC International climbed 3 per cent to Rs 309 on the BSE on Monday after the company bagged orders worth Rs 1,520 crore across various business verticals. The company's urban transport business has secured an order of Rs 964 crore for the construction of an elevated viaduct along with eight stations of the Delhi Metro Phase IV project from Delhi Metro Rail Corporation (DMRC), the company said in a BSE filing. READ MORE

11:00 AM

NEWS ALERT | RoC moves NCLAT to rectify its order on Tata Sons: CNBC TV18

>> Registrar Of Companies seeks removal of word ‘illegal’ in relation to conversion of public to a pvt co

>> Govt asks NCLAT to rectify its order in Tata Sons case