F&O expiry: Sensex soars 997 pts on Covid-19 drug hopes; auto, IT stks gain

All that happened in the markets today

11:03 AM

BROKERAGE VIEW:: Motilal Oswal Financial Services on Hexaware Technologies

Hexaware Technologies : Underwhelming outlook!

 

May witness continued challenges in some key accounts

• The company’s commentary and outlook on: (1) demand in key segments, (2) supply issues, (3) margins, and (4) recovery timelines were underwhelming. While management indicated headwinds at a top account (Freddie Mac) were largely in the past, we believe exposure to Freddie Mac / Fannie Mae is a key risk to watch out for given the news surrounding their financial health. A relatively weaker outlook, a heavier balance sheet, and the overhang around a stake sale by Barings in this uncertain environment may limit investor interest in the stock in the near term.
• We downgrade our EPS estimates over FY21–22E by 13–15%. The benefit due to currency rebasing (2.9–4.4%) was more than offset by the downgrade in both growth and margin levels. Maintain Neutral.

10:54 AM

Auto stocks in focus; Nifty Auto index up 5%, Tata Motors surges 15%

Among individual stocks, Tata Motors surged 14.77 per cent to Rs 89.70 in the biggest one-day gain for the stock in six months after reports said that Jaguar Land Rover had restored three-fourth of its budgeted production in China. According to a report in Mint, with lockdown measures easing in China all of its retailers are now open and sales are recovering. READ MORE

10:43 AM

Markets at inflection point; analysts bullish on consumer, telecom, pharma

“The road ahead for the markets will depend on fiscal response by the government, progression of Covid-19 – which so far appears to be encouraging, and the age of the current bear phase,” wrote Ridham Desai, head of India research and India equity strategist at Morgan Stanley in a note with Sheela Rathi. READ MORE

10:30 AM

RIL to consider rights issue, announce Q4 nos on April 30. What to expect?

According to analysts, the company's decision to consider rights issue is unexpected; however, considering that the equity markets may not do well in the near-term due to Covid-19 crisis, the company may have resorted to the rights issue to raise money. READ MORE

10:21 AM

Pharma index set to post its biggest monthly gain in 21 years amid Covid-19

The S&P BSE Healthcare index has rallied nearly 26.9 per cent thus far in April 2020, on a strong rally in stock such as Sun Pharmaceuticals Industries, Cipla, Lupin, Aurobindo Pharma and Glenmark Pharmaceuticals. In comparison, the benchmark S&P BSE Sensex has gained 11 per cent during this period. On the other hand, the Nifty Pharma index, which surged 30.8 per cent thus far in April, is set to post its record the biggest monthly rally since January 2001. The last time the S&P BSE Healthcare index saw a similar rally was in March 1999 when it had surged 31.5 per cent in a month. READ MORE

10:06 AM

HUL to announce Q4FY20 results today; here's what brokerages expect

Hindustan Unilever (HUL) is slated to announce its results for the fourth quarter ended March 2020 (Q4FY20) on April 30. According to analysts, most consumer goods companies would have taken a hit during the quarter under review due to Covid-19 lockdown, which has caused enormous logistical issues. Companies with higher exposure to food and daily essentials, analysts say, are expected to fare better this quarter as compared to those with a skew towards discretionary consumption. READ MORE

9:58 AM

Nifty Auto index up 5%, top sectoral gainer

9:56 AM

How to use morning and evening stars to make money in stock market

Morning Star and Evening Star are two candlestick patterns that symbolize major trend reversal ahead that can shift the market sentiment. The Morning Star is considered as a positive indicator, whereas Evening Star denotes a negative turnaround. READ MORE

9:48 AM

Glenmark zooms 9% on DCGI nod to conduct clinical trials for Covid-19 drug

The product is a generic version of Avigan of Fujifilm Toyama Chemical, Japan, a subsidiary of Fujifilm Corporation. As on date, Glenmark is the first pharmaceutical company in India to be given an approval by the regulator to start the trial on COVID-19 patients in India, the company said in a press release. READ MORE

9:39 AM

STOCK ALERT :: Polycab India hits 5% upper circuit

9:38 AM

MARKET ALERT :: NIfty tops 9,800-mark

9:36 AM

MARKET ALERT :: Sensex extends gains; now up 880 pts

9:33 AM

Motherson Sumi adds nearly 9%

9:31 AM

Tata Motors jumps 10%

9:29 AM

Glenmark Pharma jumps over 6% on approval to conduct Favipiravir Antiviral tablets trials