MARKET WRAP: Sensex up 147 pts, Nifty holds 12,250; Infy gains nearly 1.5%

All that happened in the markets today

11:04 AM

BROKERAGE RADAR | Motilal Oswal Financial Services on Automobiles

• In our view, the best risk-adjusted way to play this theme would be to focus on companies offering higher probability of volume recovery, and high operating leverage.
• From this perspective, we believe MSIL and EIM are best positioned for a sustained recovery, led by company-specific drivers and the least impact from the BS6 transition.
• Apart from operating leverage, both these companies offer scope of a gross margin improvement.
• A sustained volume recovery could drive a mean reversion of profitability by FY22, leading to earnings upgrade. Valuations are reasonable considering they are based on early cycle earnings of FY21/22.

11:01 AM

BROKERAGE RADAR | ICICI Securities on Astral Poly Technik

RECO: HOLD

 

CMP: Rs 1,128

 

Target Price: Rs 1,075

 

Impressive volume growth in both pipes and adhesives segments, expected margin improvement in both the product segments and high free cash generation (with limited capex requirement) and consequent reduction of debt would drive the overall consolidated RoCEs of the company from 22.2% in FY19 to 29.5% in FY21E. This would enable the stock to sustain its premium valuations.

10:54 AM

Pharma shares in focus; Dr Reddy's, Divi's, Granules hit 52-week highs

Pharma stocks were in focus on Friday with the Nifty Pharma index gaining nearly 2 per cent on report that brokerage firm Citi has upgraded Dr Reddy's to 'buy' from 'sell' and Lupin to 'neutral' from 'sell'. The foreign brokerage also said that valuations of pharma companies look reasonable. At 10:05 am, Nifty Pharma index was the top gainer among sectoral indices and was trading 1.6 per cent up as compared to 0.44 per cent rise in the benchmark Nifty50 index. READ MORE

10:45 AM

NEWS ALERT | Govt may raise FDI limit in insurance, pension companies to 74% from 49%: Bloomberg

>> May allow foreign airlines to own Indian Airlines

10:43 AM

STOCK UPDATE:: Adani Green Energy locked in 5% lower circuit, after surging 91% in past one month

10:37 AM

NEWS ALERT | Trade deal to be signed with China in the coming week: Donald Trump, reports Reuters

10:33 AM

STOCK ALERT :: 0.3% equity of Bharti Infratel trade on BSE

10:28 AM

Market check | Sensex near day's high

10:22 AM

KNR Constructions up 11% as it sells entire stake in KNR Walayar Tollways

The enterprise value of the assets for this transaction is Rs 529.27 crore excluding claims receivable from National Highway Authority of India (NHAI) and other governmental instrumentalities, which would be passed through to the Company as and when realized, it added. READ MORE

10:14 AM

Infosys gains nearly 2% ahead of Q3 results

The IT bellwether is scheduled to release its quarterly numbers around 3:45 pm today. Following the release, the management team will hold a press conference around 4:30 pm. READ MORE   

9:58 AM

Intraday tech call by Nirmal Bang Securities

BUY SPARC above Rs 173.4

STOP LOSS: Rs 68

TARGET PRICE: Rs 184

9:57 AM

After a gap of 7 years, gold ETFs witness inflows worth Rs 16 cr in 2019

Investors infused Rs 16 crore in gold exchange-traded funds (ETFs) in 2019, after pulling out money from safe-haven assets in the last six years, on fears of a slowdown in the global market and volatility in equity and debt markets. READ MORE

9:44 AM

Market check | Sensex pares early gains

9:37 AM

ADAG stocks slip in trade

 

 

9:33 AM

Nifty PSU Bank index trades 0.2% lower