Sensex ends 139 pts higher ahead of Fed policy outcome; Realty stocks gain

All that happened in the markets today

12:47 PM

Top BSE500 gainers

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
T.V. TODAY NETW.	528.00	470.10	57.90	12.32	221608
ASHOKA BUILDCON	248.00	229.50	18.50	8.06	152890
FORCE MOTORS	2954.45	2796.20	158.25	5.66	134164
OBEROI REALTY	510.20	483.50	26.70	5.52	60218
TIME TECHNOPLAST	169.05	160.90	8.15	5.07	20535
RADICO KHAITAN	336.80	320.70	16.10	5.02	153055

12:33 PM

Nirav Modi scam: Diamond traders now courting firms with long-term credit

 

In the aftermath of the Rs 129-billion fraud at Punjab National Bank (PNB) involving Nirav Modi and Gitanjali Gems, traders of loose diamonds are now shifting to organised sectoral players with deeper pockets for credit offers to consumers.

 

Since most banks have tightened their lending to diamond merchants and others are in the process of doing so, many medium and small diamond dealers are approaching large players for credit facility within the industry. Early last week, State Bank of India, the country’s largest-public sector bank, announced its decision to tighten collateral demands on borrowers from the gems & jewellery industry. READ MORE

12:19 PM

GSPL stock: Gujarat Gas stake buy if funded via debt to impact bottom line

 

Gujarat State Petronet’s (GSPL) decision to acquire a 28.4 per cent stake in Gujarat Gas and thereby, becoming a majority shareholder in the company did not go down well with the Street. Reacting to the news, the stock shed 6.25 per cent on Tuesday.

 

GSPL, which has a 25.8 per cent stake in Gujarat Gas, will acquire another 28.4 per cent stake from its parent Gujarat State Petroleum Corporation (GSPC). The transaction is likely to be smooth as no regulatory approval will be required. READ MORE

12:00 PM

Market Check

S&P BSE Sensex	33,272.96		0.84%
Nifty 50	10,207.45		0.82%
S&P BSE 200	4,465.88		0.83%
Nifty 500	8,999.35		0.88%
S&P BSE Mid-Cap	16,135.45		0.87%
S&P BSE Small-Cap	17,373.40		1.06%

11:47 AM

Report on Shree Cement by Reliance Securities

 

Reco: Buy 

Target price: Rs​ 22000

​​

Shree Cement (SCL) gained ~2.5% in yesterday’s trade on the expectation of healthy traction ahead due to better utilization and favourable market mix.

 

While Northern realization continues to remain dismal so far in 4QFY18, Eastern realization has been resilient and firm. We believe firm realizations in Eastern region and resumption of petcoke usage are likely to provide support to margins in current quarter. Further, we expect Northern realization to recover in 1QFY19.

11:30 AM

From Cholamandalam to Indostar, CVs to drive auto financiers' growth

Non-banking financial companies (NBFCs), focused on automobile financing, are expected to witness good credit growth, on the back of robust automobile sales, especially commercial vehicles (CV), and expectations that the recent trends will continue. READ MORE

11:20 AM

MCX plans spot commodity trading in industrial & precious metals and energy

India's largest commodity derivatives exchange for metals and energy is now expanding in spot commodity trading and it plans to replicate its strength in metals, including precious metals, and energy contracts in the spot market as well. The move will be a major development following market regulator Sebi's nod to equity and commodity exchanges to enter each other's domains. READ MORE

11:08 AM

Nifty futures trade slumps 50% on Singapore Stock Exchange in March

The trading volume of Nifty futures slumped 50 per cent on the Singapore Stock Exchange (SGX) in March since the National Stock Exchange (NSE) and the BSE ended data-sharing agreements.
 

Nifty futures on the SGX saw an average daily trading of 53,332 lots during March, down from 108,871 in February. READ MORE

10:55 AM

IDBI's 30% stake sale in NSDL delayed; transaction may spill over to FY19

IDBI Bank’s sale of a 30 per cent stake in National Securities Depository (NSDL) has been delayed and any gains will accrue only in the next financial year (FY19).

While it finalised the sale of a 7 per cent stake in December 2017, the Mumbai-based public sector lender was still working on completing process work for the deal, banking sources said. As for the balance 23 per cent, it was difficult to get investors or institutional investors, pushing sale to the first quarter of the next financial year. READ MORE

10:41 AM

Ashoka Buildcon jumps after emerging as lowest bidder (L1) for projects

Ashoka Buildcon advanced 11.33% to Rs 255.50 on BSE after the company emerged as lowest bidder for road construction projects in Maharashtra. The announcement was made after market hours on Tuesday. READ MORE

10:25 AM

IDFC advances after large bulk deal on Tuesday

IDFC was up 1% to Rs 50.40 on BSE after witnessing a large bulk deal between two fund houses on Tuesday. Copthall Mauritius Investment sold 96.74 lakh shares of IDFC to Baobab Global Fund at Rs 50 per share in a bulk deal on the BSE on Tuesday. READ MORE

10:10 AM

US move may lead to global trade war, says WTO chief Roberto Azevedo

World Trade Organization (WTO) Director-General Roberto Azevedo has warned of a potential global trade war as other nations could retaliate against recent decisions by the US to unilaterally raise tariffs and repeatedly target the multilateral rules-based trade regime. READ MORE

10:00 AM

Market Check

 

S&P BSE Sensex	33,216.21		0.67%
Nifty 50	10,191.60		0.66%
S&P BSE 200	4,462.09		0.74%
Nifty 500	8,986.10		0.74%
S&P BSE Mid-Cap	16,148.34		0.95%
S&P BSE Small-Cap	17,385.32		1.12%

9:46 AM

Canara Bank asset sale: New non-performing assets rules offset gains

Several banks are looking at selling their non-core assets to clean their balance sheets. Canara Bank, too, is selling its entire (30.4 per cent) stake in the housing finance company, Can Fin Homes (CFH), for which the bank has received commercial bids. The company’s executive director P V Bharathi has confirmed the development and expects the process to be completed by March 31. READ MORE

9:31 AM

Nifty PSU Bank index gained over 1.5%

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)	VOLUME
IDBI BANK	76.50	73.70	2.80	3.80	414070
CANARA BANK	261.30	254.20	7.10	2.79	57753
BANK OF INDIA	103.35	100.70	2.65	2.63	189701
UNION BANK (I)	98.30	96.45	1.85	1.92	45232
ANDHRA BANK	43.35	42.55	0.80	1.88	28110
ALLAHABAD BANK	50.25	49.35	0.90	1.82	20071