HDFC Bank, RIL help Sensex settle 478 pts higher; Nifty ends at 11,385

All that happened in the markets today

8:32 AM

BROKERAGE VIEW :: Motilal Oswal Financial Services on NTPC

CMP: Rs 95 | TP: Rs 139 (+46%) | Reco: Buy

>> NTPC reported strong underlying numbers. This was highlighted by the high plant load factor (PLF) incentives for the co. despite lower power demand. Adj. PAT (excl. fixed charge under-recoveries) was up 23% YoY to Rs 3320 crore.

>> Commercialization at 5.3GW in FY20 was at an all-time high. With the addition of THDC and NEEPCO, and continued pickup in capitalization, we expect a 9% earnings CAGR over FY20–23.

>> NTPC commercialized 5.3GW of capacities for FY20 – the highest ever in a single fiscal year – and is guiding for 5–6GW p.a. to be capitalized for the next three to four years. Capitalization has picked up pace, and we expect it to drive a regulated equity CAGR of 11% over FY20–23E and boost RoE (+120bps accretion). Furthermore, muted power demand, coupled with production ramp-up at Coal India’s mines, has led to an increase in coal stocks at power plants and improved plant availability factors. Thus, we expect overall FC u/r to remain low – albeit some machine-related u/r may occur from time to time. The stock trades attractively at a FY22 P/BV of 0.7x and div. yield of ~7%

8:28 AM

Trading strategies by Nilesh Jain of Anand Rathi

BUY NIFTY | TARGET: 11,400 | STOP LOSS: 11,140

 

The Nifty index is consolidating from the past couple of sessions and also finding support near 11,100 zones. The nifty index also formed a dragonfly Doji candlestick pattern on the daily chart which is considered as a bullish reversal candle. The momentum indicators and oscillators on the weekly scales are still in buy mode which hints of some buying at lower levels. READ MORE

8:25 AM

Bulk deals on NSE as on Monday

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8:23 AM

Bulk deals on BSE as on Monday

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8:21 AM

FII/FPI & DII trading activity on NSE, BSE and MSEI

8:18 AM

Rupee check

Source: Bloomberg

8:15 AM

Oil edges lower as suppliers try to hold line on output cuts

>> Oil prices edged lower on Tuesday, mostly holding onto overnight gains after OPEC+ said the producer grouping is almost fully complying with output cuts to support prices amid a drop in demand for fuels due to the coronavirus pandemic.

 

>> Brent crude was down 6 cents, or 0.1%, at $45.31 a barrel, after gaining 1.3% on Monday.

 

>> US crude was down 8 cents, or 0.2%, at $42.81 a barrel, having risen 2.1% in the previous session.

(Source: Reuters)

8:13 AM

SGX Nifty update

>> At 8:12 am, the index was at 11,283 level, down 5 points or 0.04 per cent.

8:11 AM

Asian Market check

Source: Reuters

8:09 AM

Nasdaq hits record high close due to tech rally

Source: Reuters

7:52 AM

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