Sensex ends volatile session with minor gains; Indiabulls Housing down 8.5%

All that happened in the markets today

10:28 AM

MOFSL view on oil & gas sector

Low oil prices and stable INR are expected to pave the way for the next phase of reforms for the Oil Marketing Companies (OMCs). IOCL is trading at 1.2x (~3% discount to FY15-18 PBV of 1.2x), while BPCL/HPCL are trading at 1.7x/1.3x one-year forward PBV, much below 2.1x/1.6x during FY15-18. We reiterate Buy on IOCL and BPCL, and stay Neutral on HPCL. IOCL remains our preferred pick.

10:23 AM

Growth for Narayana Hrudayalaya to sustain

Rating: BUY

 

Target Price: Rs 282

 

Upside: 24%

 

CMP: Rs 228 (as on June 18, 2019)

 

Narayana Hrudayalaya reported strong operating performance in FY19, which is likely to sustain. Given its low-cost model and scale-up in new hospitals, it is well positioned to benefit from growing demand. In the near term, losses from newer hospitals would hurt profitability. At the CMP, the stock trades at an attractive valuation of 12x FY21E EV/EBITDA. We reiterate Buy with a TP of Rs 282 on 15x FY21E EV/EBITDA.

10:21 AM

Competitive headwinds rising, valuations stretched for Bajaj Finance: ICICI Securities

RECO: REDUCE

 

CMP: Rs 3,544 

 

Target: Rs 3,300 

 

Target Period: 12 months

 

We downgrade the stock from BUY to REDUCE. Continuity of high margins in current environment and market share in high yielding- low risk consumer segment remain risks to our call.

 

10:09 AM

Nifty Realty Index soars nearly 2%

10:05 AM

CG Power slips over 1% in trade

10:01 AM

Momentum picks by ICICI Securities

 

9:59 AM

Jet Airways falls 29% ahead of NCLT hearing on insolvency plea

Shares of Jet Airways (India) hit a fresh all-time low of Rs 28.60, down 29 per cent, in early morning trade on the National Stock Exchange (NSE) on Wednesday ahead of National Company Law Tribunal (NCLT) hearing later in the day on insolvency plea filed by the lenders.
 

The State Bank of India, the lead banker to Jet Airways, on Tuesday filed an insolvency plea against the crisis-hit airline under Section 7 of the Insolvency and Bankruptcy Code at the NCLT, Mumbai. READ MORE

9:57 AM

DHFL gains over 3% in morning deals

9:55 AM

Reliance Infra is trading nearly 7% lower

9:50 AM

Nifty Metal index gains nearly 2%

9:48 AM

Hindalco Industries gains over 2% in trade

9:47 AM

Jet Airways slips 22% ahead of insolvency plea hearing in NCLT

9:45 AM

NEWS ALERT | Rocket hits foreign oil company in Iraq's Basra region: Reuters

- Cos operating at site of Basra Include Exxon, Shell & ENI

9:43 AM

IRB Infra down nearly 12%

9:32 AM

Tata Motors gains over 1%