MARKET WRAP: Benchmarks end flat, Sensex up 42 pts; realty, IT stocks slip

All that happened in the markets today

12:12 PM

BROKERAGE RADAR | HDFC Securities on Mishra Dhatu Nigam (Midhani)

Healthy order book, strong execution with robust operating margin and net margin, strong balance sheet with cash & equivalents of Rs 198cr as on Mar-19 support our positive view on the stock. The stock is available at attractive valuations of 14x FY21E earnings. We recommend BUY at CMP of Rs 151 and add on dips to Rs 139 with sequential targets of Rs 172 and Rs 195 over the next 4 quarters. We have assigned ~18x FY21E to derive TP of Rs 195.

12:12 PM

Pharma stocks gain; Divi's Labs, Dr Reddy's, Pirmal Enterprises rise 1.50%

Most pharma stocks were trading in the green in the morning trade on Monday. The Nifty Pharma index was trading over half a per cent higher in a flat market. At 11:27 am, the Nifty Pharma index was ruling 0.84 per cent higher at 8,020 levels with Divi's Labs leading the chart with nearly 2 per cent gains. Piramal Enterprises, Dr Reddy's, and Glenmark Pharma rallied up to over 1 per cent. READ MORE

12:08 PM

NEWS ALERT | VA Tech executes project worth Rs 482.2 cr for Chennai Metro Water Supply Board: CNBC TV18

12:05 PM

MARKET CHECK

11:57 AM

BUZZING STOCK:: Coromandel International up 4%

11:50 AM

Maharashtra Seamless surges 4% on bagging order from ONGC

Shares of Maharashtra Seamless rose 3.7 per cent to Rs 373 on the BSE on Monday on receipt of an order from Oil and Natural Gas Corporation (ONGC) worth Rs 500 crore.

 

In an exchange filing, the company said it has bagged order for supply of seamless castings to ONGC. READ MORE

11:41 AM

NEWS ALERT | JLR Retail sales up 11.3% at 46,582 units (MoM)

11:34 AM

India Vix up 8%

11:32 AM

YES Bank off day's low

11:23 AM

NEWS ALERT | SBI to cut lending rates by 10 bps across tenors w.e.f Dec 10: CNBC TV18

-- SBI's 1-yr MCLR to be 7.9% 

Alert: Bank has reduced MCLR only for 1-year tenor, not for all

11:16 AM

Sensex edges higher

11:05 AM

Auto stocks gain as Maruti Suzuki increases production in November

Shares of automobile companies gained on Monday after Maruti Suzuki India (MSI) increased its production in November. At 10:30 AM, the S&P BSE Auto index climbed 1.5 per cent as compared to a flat benchmark S&P BSE Sensex and was the top gainer among BSE sectoral indices. Among individual stocks, Maruti Suzuki India, Tata Motors, and Motherson Sumi rose over 2 per cent each. Eicher Motors, Ashok Leyland, Mahindra & Mahindra, TVS Motor, Hero MotoCorp were all up in the range of 1-2 per cent, while Bajaj-Auto was also trading higher. READ MORE

10:55 AM

Dish TV India zooms 15% after clarification on CARE ratings downgrade

Shares of Dish TV India surged 15 per cent to Rs 14.44 on the BSE on Monday after the company said the default in debt repayment was on account of a temporary cash shortfall due to peak payment commitments to suppliers. “The Company’s deferral to service the loan amount is due to bunching of repayment obligations and utilization of funds for other business requirements including, both capital expenditure and payment of operating liabilities to broadcasters and suppliers,” Dish TV India said in a regulatory filing. READ MORE

10:54 AM

Gilt funds lose steam after RBI pause on rate cut triggers yield spike

The strong rally seen by gilt funds might come under pressure, following the surprise move by the Reserve Bank of India (RBI) to bring a halt to its policy rate-cut moves to give a fillip to economic growth. Gilt and other government security funds, on Thursday, saw their net asset values (NAVs) decline between 0.6 and 1.1 per cent after the RBI’s pause on rate cuts triggered a spike in G-Sec yields. READ MORE

10:46 AM

Nifty FMCG index trades weaker; HUL, Colgate Palmolive top losers