MARKET WRAP: Sensex zooms 489 pts, Nifty over 11,800; Jet Airways soars 90%

All that happened in the markets today

2:53 PM

Sugar stocks trade under pressure

COMPANY NAME	LATEST	HIGH	LOW	CHG (rs)	CHG(%)
BAJAJ HINDUSTHAN	7.46	7.54	7.22	-0.04	-0.53
BALRAMPUR CHINI	141.00	141.90	125.90	1.95	1.40
DHAMPUR SUGAR	186.85	191.85	178.60	-4.10	-2.15
DWARIKESH SUGAR	25.15	25.50	24.30	0.90	3.71
TRIVEN.ENGG.IND.	64.50	65.25	62.50	-1.15	-1.75
SH.RENUKA SUGAR	8.82	8.95	8.70	-0.17	-1.89
KCP SUGAR &INDS.	13.00	14.15	12.50	-0.95	-6.81
KM SUGAR MILLS	7.33	7.33	7.00	0.16	2.23
UGAR SUGAR WORKS	13.50	13.85	13.20	-0.35	-2.53
AVADH SUGAR	607.90	624.25	568.80	-21.65	-3.44

2:52 PM

NEWS ALERT | RBI being very proactive on liquidity: Ashima Goyal

- RBI 'really listening' to market feedback on liquidity

 

- RBI keeping liquidity in surplus with OMOs, Forex swaps

2:50 PM

NEWS ALERT | More sensible for RBI to target core CPI inflation: Ashima Goyal, member, PMEAC

- Core inflation better target for framing RBI policy

 

- It captures demand slowdown

 

- High real interest rate blocking uptick in private investment

Alert: PMEAC stands for Prime Minister Economic Advisory Council

2:47 PM

IndusInd Bank rises over 3%

2:45 PM

NEWS ALERT | 0.56% equity exchanged of Jyothy Labs

2:41 PM

NEWS ALERT | Sensex zooms over 300 pts

2:41 PM

Jet Airways extends gains, stock up 39%

2:35 PM

NEWS ALERT | S&P downgrades Jain Irrigation from B- to B+: CNBC TV18

2:34 PM

Reliance Securities on SBI

SBI: Buy

Target: Rs 390

 

SBI’s strong liability franchise and better capital position differentiate it from other PSU peers. Moreover, industry best cost of funds also helps lower asset side risks. Sharp decline in credit cost and improvement in margin are expected to drive improved RoAs over FY20E/21E. Factoring in the benefits of likely stake sale in subsidiaries in FY20E and write-backs from some large NCLT recoveries, we expect RoA of 0.8%/0.9% in FY20E/FY21E. We have a buy recommendation on the stock with a target price of Rs 390 implying a FY21 P/ABV of 1.6x. At CMP, the stock trades at 1.4x FY21E APBV.

2:30 PM

NEWS ALERT | Fitch affirms Bharti Airtel's long term rating at 'BBB-'; outlook stable

2:29 PM

Prabhudas Lilladher on Voltas

We estimate the Voltas-Beko JV to report loss of nearly Rs 1.5 bn/ Rs 1.2 bn in FY20/21. MEP business is focusing on domestic projects in Rural Electrification and Urban Infra as return of NDA Govt is likely to retain continuity in policies. We estimate 15.9 per cent EPS (earnings per share) CAGR over FY19-21 and value the stock at 28xFY21 earnings. Maintain Hold.

2:16 PM

Sun Pharma rises over 3%

2:05 PM

Nifty Metal index is trading 1.5% higher

1:57 PM

CG Power climbs over 4%

1:44 PM

Nifty Pharma index is trading over 2% higher