MARKETS ON MONDAY: Sensex ends 162 pts up, Nifty at 10,379 on Asian cues
All that happened in the markets today.
 "Markets, Stocks, BSE, NSE, Trade")
Photo: Shutterstock.com
10:30 AM
Bond yields expected to remain benign, may dip to 7% in the near term
The first Government of India bond auction for 2018-19 sailed through on Friday, and indications are investor appetite is likely to remain healthy. Bond yields are expected to remain benign, and could slide close to 7 per cent in the near term. READ MORE
10:15 AM
L&T Technology gains on multi-million dollar contract from ExxonMobil
L&T Technology Services (LTTS) was up 4% to Rs 1,270 on the BSE in early morning trade after the company announced that it has signed an agreement with ExxonMobil Exploration Company, valued at more than $20 million (Rs 1,297 million) in the first year.
LTTS’ geospatial and digital expertise will enable rapid conversion of historical Geoscience content into the digital domain by leveraging sophisticated automation utilities. READ MORE
10:00 AM
Market Check
| S&P BSE Sensex | 33,756.11 | 0.38% | |
| Nifty 50 | 10,371.25 | 0.38% | |
| S&P BSE 200 | 4,572.40 | 0.47% | |
| Nifty 500 | 9,205.75 | 0.37% | |
| S&P BSE Mid-Cap | 16,666.01 | 0.42% | |
| S&P BSE Small-Cap | 18,003.09 | 0.67% | |
9:55 AM
Foreign bond investors get access to $16 bn of additional debt in India
India’s central bank raised limits for overseas investors that could lure $16 billion of additional funds into the nation’s sovereign as well as corporate debt. Foreign investors will be allowed to increase holdings of a sovereign, state and corporate bonds by Rs 1.04 trillion ($16 billion) in the fiscal year to March 2019. Overseas investors can boost holding of central government securities by 0.5 percentage points a year, taking the limit to 5.5 per cent in fiscal year to March 2019 and to 6 per cent in the following 12 month period, the Reserve Bank of India said in a statement on Friday. The central bank set 9 per cent as the limit for foreign investors to own in debt sold by Indian companies. READ MORE
9:42 AM
Nifty 500 top gainers
| COMPANY | LATEST | PREV CLOSE | GAIN() | GAIN(%) | VOLUME |
| JBF INDS. | 95.30 | 90.80 | 4.50 | 4.96 | 47988 |
| KESORAM INDS. | 130.75 | 124.70 | 6.05 | 4.85 | 308826 |
| BALLARPUR INDS. | 15.35 | 14.65 | 0.70 | 4.78 | 522871 |
| HINDALCO INDS. | 221.85 | 214.00 | 7.85 | 3.67 | 2861054 |
| BOMBAY RAYON | 38.80 | 37.55 | 1.25 | 3.33 | 19376 |
9:35 AM
BSE 500 top gainers
| COMPANY | PRICE() | CHG() | CHG(%) | VOLUME |
| JBF INDS. | 95.30 | 4.50 | 4.96 | 7964 |
| KESORAM INDS. | 130.55 | 5.85 | 4.69 | 33051 |
| HINDALCO INDS. | 222.80 | 8.70 | 4.06 | 169045 |
| MAX INDIA | 86.75 | 3.15 | 3.77 | 3575 |
| PAGE INDUSTRIES | 24780.00 | 853.35 | 3.57 | 6 |
9:32 AM
RESULT PREVIEW Auto and Auto Ancillaries
Revenue growth is expected to be robust, primarily due to strong rural demand, higher realizations and a low base. Most automotive manufacturers are likely to report double-digit revenue growth, with best performers being Escorts (+45% yoy), TVS Motor (+41% yoy), Bajaj Auto (+38% yoy), Ashok Leyland (+36% yoy) and Eicher Motors (+33% yoy). Even Auto Ancillary companies would report strong revenue performance, with top performers being Motherson Sumi (+40% yoy) and Exide Industries (+29% yoy). Overall, we forecast revenue for companies under our coverage to grow by 20% yoy in Q4FY18.
FY19 would be a good year for companies that are direct or indirect beneficiaries of the impending revival in rural demand, such as Hero MotoCorp, M&M and Escorts. Tata Motors is our dark horse, as currency worries subside and momentum in volume growth persists. Among the Auto Ancillaries, we like Motherson Sumi and Exide Industries.
(Source: Emkay Global)
Revenue growth is expected to be robust, primarily due to strong rural demand, higher realizations and a low base. Most automotive manufacturers are likely to report double-digit revenue growth, with best performers being Escorts (+45% yoy), TVS Motor (+41% yoy), Bajaj Auto (+38% yoy), Ashok Leyland (+36% yoy) and Eicher Motors (+33% yoy). Even Auto Ancillary companies would report strong revenue performance, with top performers being Motherson Sumi (+40% yoy) and Exide Industries (+29% yoy). Overall, we forecast revenue for companies under our coverage to grow by 20% yoy in Q4FY18.
FY19 would be a good year for companies that are direct or indirect beneficiaries of the impending revival in rural demand, such as Hero MotoCorp, M&M and Escorts. Tata Motors is our dark horse, as currency worries subside and momentum in volume growth persists. Among the Auto Ancillaries, we like Motherson Sumi and Exide Industries.
(Source: Emkay Global)
9:30 AM
MARKET COMMENT: Teena Virmani, Vice President – Research at Kotak Securities
Markets witnessed gains during last week as RBI kept status quo on interest rates and also revised the CPI inflation forecast downwards. Going ahead, the focus of the markets will shift back to earnings which are likely to kick start from next week as well as future growth outlook by the various management. Earnings growth is also likely to be supported by a low base of Q4FY17. Globally, concerns over global growth owing to trade war triggered by Trump tariff threat continue to remain. Escalating trade standoff between US and China may continue to impact financial markets negatively. Monthly US jobs data is also to be eyed for clues on US monetary policy
Markets witnessed gains during last week as RBI kept status quo on interest rates and also revised the CPI inflation forecast downwards. Going ahead, the focus of the markets will shift back to earnings which are likely to kick start from next week as well as future growth outlook by the various management. Earnings growth is also likely to be supported by a low base of Q4FY17. Globally, concerns over global growth owing to trade war triggered by Trump tariff threat continue to remain. Escalating trade standoff between US and China may continue to impact financial markets negatively. Monthly US jobs data is also to be eyed for clues on US monetary policy
9:29 AM
Bank stocks gain
| COMPANY | LATEST | CHG(RS) | CHG(%) |
WEIGHT IN INDEX (%) |
| PUNJAB NATL.BANK | 104.30 | 2.30 | 2.25 | 1.32 |
| KOTAK MAH. BANK | 1134.40 | 15.30 | 1.37 | 12.22 |
| BANK OF BARODA | 152.25 | 1.95 | 1.30 | 2.17 |
| YES BANK | 317.85 | 3.65 | 1.16 | 3.39 |
| AXIS BANK | 505.50 | 4.80 | 0.96 | 10.52 |
| ST BK OF INDIA | 262.25 | 2.45 | 0.94 | 10.29 |
9:24 AM
Angel Broking's Fundamental Picks
9:22 AM
Sectoral Trend
9:22 AM
Stocks In News
Tesaro’s competitor Clovis’s Rubraca has won “expanded FDA approval”, arguably becoming “the safest/cleanest PARPi” compared to peers. Due to this, Tesaro tanked 5% on Friday. This could be negative for Dishman as it supplies APIs to Tesaro
State Bank of India: Bank has put 15 NPAs worth Rs 1,063 crore for sale.
Dewan Housing Finance: Company plans to raise up to Rs 1,000 crpre via debentures on private placement basis
Binani Industries: Company to move Supreme Court with Rs 7,618 cr offer.
Tata Chemicals to acquire Allied Silica for Rs 123 cr
Wipro sold 63% of its stake in Wipro Airport IT to Antariksh Softtech.The sale consideration is Rs 3.15 crore.
Inox Wind won 100MW in the SECI-4 auction at a fixed price of Rs2.51/unit for 25 years
APSEZ doubles Dhamra Port capacity to 50 million tone
Nitesh Estates awarded a claim of Rs 15 crore in a land dispute.
Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
ICICI Bank: Some board directors are likely to meet soon to discuss the way ahead for CEO Chanda Kochhar
Dalmia Bharat’s refractories unit teams up with European company to develop and supply a range of advanced monolithic refractory material.
Lemon Tree Hotels to list today. The issue price was Rs 56 per share.
(Source: Nirmal Bang report)
NMDC has kept the prices of Iron Ore and Lumps unchanged Month-on-Month. Price of Lump Ore is Rs. 3000 per tons and price of Fine remained at Rs. 2660 per tons.
Tesaro’s competitor Clovis’s Rubraca has won “expanded FDA approval”, arguably becoming “the safest/cleanest PARPi” compared to peers. Due to this, Tesaro tanked 5% on Friday. This could be negative for Dishman as it supplies APIs to Tesaro
State Bank of India: Bank has put 15 NPAs worth Rs 1,063 crore for sale.
Dewan Housing Finance: Company plans to raise up to Rs 1,000 crpre via debentures on private placement basis
Binani Industries: Company to move Supreme Court with Rs 7,618 cr offer.
Tata Chemicals to acquire Allied Silica for Rs 123 cr
Wipro sold 63% of its stake in Wipro Airport IT to Antariksh Softtech.The sale consideration is Rs 3.15 crore.
Inox Wind won 100MW in the SECI-4 auction at a fixed price of Rs2.51/unit for 25 years
APSEZ doubles Dhamra Port capacity to 50 million tone
Nitesh Estates awarded a claim of Rs 15 crore in a land dispute.
Century Plyboard unit writes off its entire investment in Indonesian subsidiary.
ICICI Bank: Some board directors are likely to meet soon to discuss the way ahead for CEO Chanda Kochhar
Dalmia Bharat’s refractories unit teams up with European company to develop and supply a range of advanced monolithic refractory material.
Lemon Tree Hotels to list today. The issue price was Rs 56 per share.
(Source: Nirmal Bang report)
9:19 AM
Sensex gainers and losers
9:18 AM
Markets at Open
At 9:17 am, the S&P BSE Sensex was trading at 33,660, up 33 points while the broader Nifty50 index was ruling at 10,342, up 10 points
9:02 AM
Image Source: SMC Global report
Topics :
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Apr 09 2018 | 3:30 PM IST
