MARKET WRAP: Indices trim gains, Sensex ends 277 pts higher; DHFL jumps 32%

All that happened in markets today

9:20 AM

Asian Paints trades flat

9:19 AM

SRF rises nearly 7% on strong Q1 results

9:18 AM

Sectoral trends at NSE during Opening trade

9:17 AM

Top gainers and losers on S&P BSE Sensex during Opening trade

9:16 AM

Market at Open

9:16 AM

Market at Open

9:03 AM

Top gainers and losers on S&P BSE Sensex during Pre-open

9:02 AM

Market at Pre-open

9:01 AM

Market at Pre-open

9:01 AM

Rupee opening

Rupee opens weaker at 70.80/$ vs Monday's close of 70.74 against the US dollar

9:01 AM

Motilal Oswal Financial Services on Tata Communication

Recommendation: Neutral

CMP: INR 465

TP: INR 525

Upside:13%  

The small and emerging segments like Growth, Innovation and Transformation witnessed little improvement, with growth expected to slow down even further. Although Traditional margin exceeded our estimate, it is likely to trace back and stabilize at ~32%. As a result, we now lower our segmental margin and EBITDA estimates for the coming quarters. Our pre-Ind-AS 116-based consol. EBITDA CAGR estimate (FY19-21) remains unchanged at 13%.

8:59 AM

Motilal Oswal Financial Services on Indian Hotels

Recommendation: ​Buy

CMP: INR 135

TP: INR 178

Upside: 32%  

Factoring in the impact of Ind-AS 116 into our model, we raise our FY20/21 EBITDA estimate by 18%/14%, but cut the PBT estimate by 3%/4%. We value the stock at 17x FY21E EV/EBITDA. On an SOTP basis, we arrive at a TP of INR178 (upside of 32%). Maintain Buy.

8:58 AM

Motilal Oswal Financial Services on AU SMALL FINANCE BANK

Recommendation: Buy

CMP: INR 636

TP: INR 760

Upside: 19% 

AUBANK is swiftly increasing its focus towards the high- yielding used vehicle segment and is capitalizing under-penetrated opportunities in the MSME segment, thereby sustaining healthy growth momentum. Further, the conservative underwriting approach, reduction in ticket sizes and lower LTVs should enable the bank to maintain strong control on credit costs. We expect AUBANK to deliver steady 43% earnings CAGR over FY19-21, aided by gradual improvement in operating leverage and margins. Maintain Buy with PT of INR760 (4.8x FY21E BV).

8:56 AM

RBI faces calls to do more than just one rate cut amid economic slowdown

India's central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive.

 

The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.5 per cent, according to almost all of the 36 economists surveyed by Bloomberg. Swap markets are pricing in at least another 50 basis points of reductions before the end of 2019. READ MORE

8:51 AM

Stocks to watch: Titan, Berger Paints, Dilip Buildcon, Indian Hotels, SRF

Here's a look at the top stocks that may remain in focus today -

 

Earnings today: As many as 106 companies, including the likes of Titan, REC, Pidilite, and Indiabulls Housing are scheduled to announce their June quarter earnings today.

 

SRF: The consolidated revenue of the company grew by 9 per cent YoY to Rs 1,828 crores in Q1FY20 while PAT rose 41 per cent YoY to Rs 189 crores. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 16 per cent to Rs 295 crore during the period. READ MORE