MARKET WRAP: Infy, RIL support Sensex, Nifty ends below 11,600; banks slip

All that happened in markets today.

2:17 PM

NEWS ALERT | Gross direct tax collection between April-Sept 17 at Rs 5.5 trillion, up 5% YoY: sources to CNBC TV18

-- Advance tax collections at Rs 2.2 trillion, up 6% YoY

-- Personal advance tax collection at Rs 36,00 cr

-- Tax refund pending worth over Rs 70,000 cr 

2:15 PM

NEWS ALERT | H2 borrowing calendar likely on Sept 30: CNBC TV18

2:02 PM

MARKET CHECK | Around 51 securities hit 52-week low on the NSE

(Source: NSE)

1:59 PM

MARKET CHECK | IT stocks rally, Nifty IT index up nearly 2%

1:54 PM

Kotak Securities on auto component companies

We expect margins for auto ancillaries in the OEM segment to remain weak as auto OEMs remain under pressure due to weak retail demand. We expect auto ancillary companies to pass on some of the benefits from ETR cut to OEMs as their bargain power in the segment remains low. Companies that derive higher share of business from the replacement segment will be the major beneficiaries due to the ETR cut. We like Amara Raja Batteries, Balkrishna Industries and Varroc Engineering from this space. We have downgraded five stocks – Apollo Tyres (from BUY to ADD), CEAT Tyres & SKF India (from ADD TO REDUCE) and Endurance Technologies & MRF Tyres (from REDUCE TO SELL) on expensive values as stock prices have rallied over the past two trading sessions post the corporate tax rate cut announcement.

1:39 PM

ALERT | Nifty Mid-Cap 100 index breaches its 100-DMA after major 2-day rally on Friday & yesterday: CNBC TV18

1:38 PM

NEWS ALERT | Govt likely to inject Rs 55,250 cr this week into state-run banks: CNBC-TV18

1:38 PM

NEWS ALERT | Will approach market to borrow Rs 12,000 cr for expansion plan: BSNL CMD to CNBC TV18

-- BSNL waiting Cabinet nod

-- Paid salary to employees through internal sources

1:36 PM

NEWS ALERT | Believe Indian Govt will make independent decision on 5G for the long-term benefit of India: Huawei India to CNBC-TV18

-- Huawei says, will continue to abide by rules & regulations of the land

 

-- Believe decision will be based on facts and technical data rather than ideology or a vendor's country of origin

 

-- Believe Indian govt will treatall companies fairly 

1:36 PM

NEWS ALERT | Huawei writes to DoT seeking clarity on India stance on it's participation in 5G trials: sources to CNBC TV18

-- Huawei likely to visit India next month

 

-- Seeks clarity on its application for 5G trials in India

 

-- Co reiterates intent to sign 'no-back door' pact with Govt to assuage potential security concerns

 

-- Spl Committee to review applications likely given clearance to Samsung, Nokia, Ericsson. 

 

Alert: India invited applications for 5G trails

 

     : Govt received 6 proposals for 5G tech trials in India in June including Huawei

1:26 PM

LIC's investment in the private sector lowest in 16 years at 14.6%

The LIC has reportedly helped bail out a number of public sector enterprises, as well as banks like IDBI, which may have resulted in a shrinking pool available for the private sector. READ MORE 

 

1:18 PM

NEWS ALERT | Axis bank to get Rs 1,500-1,700 cr as Tier-I capital from low risk weight: sources to CNBC TV18

-- Domestic Institutions may have contributed 33% to QIP

 

-- Hedge Funds likely subscribed to 16% of QIP

 

-- California-based Fund Dodge & Cox may have put in a bid of Rs 1,300 cr in QIP 

1:11 PM

NEWS ALERT | Axis Bank likely to have received RBI's approval to reduce risk weight: sources to CNBC TV18

-- Axis Bank's QIP likely to be priced at Rs 629/sh

-- 48% of QIP expected to be subscribed by long-only FIIs

-- Axis Bank to raise additional Rs 2,500 cr from promoters

Alert: Axis Bank to see cumulative capital expansion of Rs 16,500 cr
 

1:09 PM

Threats loom for India’s apparel exporters: ICRA

India’s apparel exports have revived during the current financial year, growing by nearly 4 per cent Y-o-Y during 4M FY2020, after two consecutive years of de-growth, by nearly 3-4 per cent per annum in the previous two fiscals. As per ICRA note, though domestic apparel exports are expected to remain in the positive zone during rest of the year, there are multiple threats looming which could slow down the pace and make it challenging for apparel exporters.

 

Commenting on this, Mr Jayanta Roy, Senior Vice-President and Group Head, Corporate Sector Ratings, ICRA, says, “External environment for India’s apparel exporters remains challenging amid a pick-up in activity on several free trade agreements among the key trading nations, which has intensified competition from nations having a cost advantage over India.”

1:04 PM

Prabhudas Lilladher on Multiplex sector

We believe industry profitability and capital efficiency is set to improve as M&A activity is more or less over (top 4 players have cornered ~79% of the multiplex screen count), and share of premium screens and high margin non-ticketing revenue is on a rise. We have a positive outlook on the sector and initiate coverage on PVR (ACCUMULATE with a TP of Rs 2,099) and Inox Leisure (BUY with a TP of Rs 394). Threat from OTT and contagion of local body tax are key risks to our thesis.