Friday, January 10, 2025 | 12:39 AM ISTEN Hindi

MARKETS: Sensex erases gains, ends 262 pts lower; banks, metals, FMCG drag

All that happened in the markets today

SI Reporter New Delhi

NSE's Nifty lost 88 points or 0.95 per cent to end at 9,205.60 levels.

9:03 AM

Market at Pre-open

9:02 AM

Market at Pre-open

9:00 AM

Stocks to watch: Banks, NBFCs, Marico, liquor stocks, Lupin, RBL, ICICI Bk

Banks, NBFCs: With further extension of the nationwide lockdown, the RBI is considering a proposal for extending the moratorium on bank loans by another three months to help people and industry impacted by the ongoing lockdown to contain COVID-19.

Marico: FMCG firm Marico Ltd on Monday reported a 50.62 per cent decline in consolidated net profit at Rs 199 crore for the fourth quarter ended March 2020 due to COVID-19 related disruptions. Its net sales dropped 7.02 per cent to Rs 1,496 crore during the quarter under review as compared with Rs 1,609 crore in the corresponding quarter of previous year. READ MORE

8:58 AM

BROKERAGE VIEW :: Emkay Global on Auto sector

>> The auto sector has endured tough times over the past six quarters due to a cyclical downturn across segments. Near-term volume performance is expected to remain under pressure, but we expect a rebound in H2FY21, led by a low base, pent-up demand and better rural sentiment.

>> We retain our positive view on the Auto sector at current valuations. Although companies with global linkages are relatively more vulnerable, domestic-focused ones are relatively less impacted and likely to witness an early recovery.

Top picks: Among OEMs, we like Escorts, Maruti Suzuki and Eicher Motors. Among ancillaries, we like aftermarket-focused companies such as Amara Raja Batteries and Exide Industries.

8:54 AM

NEWS ALERT :: ICICI Bank to consider fund raising via debt securities on May 9

>> Bank to consider fund raising by way of issuance of debt securities including non-convertible debentures/bonds/notes/offshore Certificate of Deposits in single/multiple tranches in any currency through public/private placement

8:51 AM

NEWS ALERT :: Kalpataru Power Transmission completes 100% stake sale in Kalpataru Satpura Transco

>> Further, the Company was to transfer its entire 100% stake in Alipurduar Transmission Limited to CLP India, upon achieving commercial operations of both the elements of the transmission line, which was achieved in January 2020. The agreement, however, was recently terminated on account of non-fulfilment of certain conditions precedent as per the agreed terms. The Company is now actively pursuing and evaluating opportunities to sell its stake in ATL to suitable investor(s).

>> The Company also entered into another agreement dated 3rd July 2019 to transfer its entire 74% stake in Kohima Mariani Transmission Limited (KMTL) to CLP upon achieving commercial operations of the transmission line. The construction work relating to the KMTL project is progressing well and commercial operations are likely to be achieved by July/August 2020. Post commercial operations of the KMTL project and satisfaction of conditions precedent including obtaining the requisite regulatory and other approvals, as stipulated under the agreement, the Company will transfer its stake in KMTL to CLP.

(Via BSE filing)

8:45 AM

April Auto Sales | Ashok Leyland logs nil production and sales amid lockdown

8:41 AM

BROKERAGE VIEW :: Credit Suisse on BHEL

Maintains 'Neutral'; Target price at Rs 25

>> Co has potential to open opportunities but may not add much in near term

>> Focus is on bringing investment rather than building new avenues for the company

>> Core business may continue to remain under pressure; remain cautious

8:37 AM

BROKERAGE VIEW :: Jefferies on Marico

Maintains 'Buy'; Target price at Rs 400

>> Q4 results mostly in line with expectations

>> Margins beat estimates which is a positive surprise

>> Current utilisation at 75% shows stabilisation

>> Company expects Copra price deflation, which improves FY21 margin expectations going forward

>> Counter offers attractive risk-reward,

8:34 AM

BROKERAGE VIEW :: CLSA on RIL

Maintains 'Buy'; Traget price at Rs 1,770

>> Investment by Facebook and Silver Lake should help place Jio Platforms as tech major

>> Company should be able to reduce debt by Rs 1.5 trillion

>> Stake sale in Jio, deal with Aramco, progress in InvIT stake sale major triggers

8:30 AM

BROKERAGE VIEW :: CLSA on Godrej Properties

Maintains 'Buy'; Target price at Rs 870

>> Best placed tio benefit from industry consolidation

>> Its strong balance sheet is a war chest to thrive during slowdown

>> Well positioned to capture market share

>> Base case assumes CAGR of 6% for its pre-sales over FY2--22

8:26 AM

Nifty needs to hold 9,150 for further up move: Nilesh Jain of Anand Rathi

BUY BHARTI AIRTEL | TARGET: 560 | STOP LOSS: 510

The stock has provided breakout from its broad consolidation range and made a big bullish candle on the daily chart. The volume activity has also supported the price action. The momentum oscillator MACD is very well in buy mode on the daily chart. READ MORE