MARKETS ON TUESDAY: Indices end higher, Nifty holds 10,400; Axis Bank up 6%

All that happened in the markets on Tuesday

2:30 PM

Buzzing Stock

 

Share price of Dilip Buildcon gained 1.7% intraday on execution of concession agreement with NHAI.

 

The company's wholly owned subsidiary DBL Chandikhole Bhadrak Highways has executed the concession agreement with the National Highways Authority of India (NHAI), Ministry of Road Transport and Highways.

2:16 PM

Want to invest in MFs? Compare costs of online direct investment portals

After receiving approval from the Securities and Exchange Board of India (SEBI) to become a registered investment advisor, Paytm will soon launch a new wealth management app, Paytm Money, which will allow investors to invest in mutual fund products of all categories. The app will offer mutual funds from the top 12 largest asset management companies (AMCs). READ MORE

2:01 PM

Market Check

 

S&P BSE Sensex	33,883.32		0.28%
Nifty 50	10,406.35		0.26%
S&P BSE 200	4,577.87		0.20%
Nifty 500	9,220.70		0.17%
S&P BSE Mid-Cap	16,646.27		0.14%
S&P BSE Small-Cap	17,953.75		0.01%

1:46 PM

Domino's delivers: Jubilant becomes best-performing mid-cap stock of 2018

Mid-cap stocks in India may not be having their best year, but there is one bright spot among these companies. After a stellar 106 per cent rally last year, the Indian operator of Domino’s Pizza - Jubilant Foodworks Ltd. - is the best-performing mid-cap stock so far in 2018. READ MORE

1:31 PM

Aramco IPO to be launched: Will this tiny Saudi exchange be able to manage?

Saudi Arabia’s meager stock exchange hosts around 191 companies whose value totals roughly $500 billion, or a little more than half the value of Apple Inc. With one more very important listing, it could balloon in size—or be overwhelmed. So far, Saudi Arabia’s Tadawul is the only confirmed listing exchange for Saudi Arabian Oil Co., the giant company better known as Aramco, which the kingdom estimates could be worth $2 trillion. While the world’s leading stock exchanges and governments have been busy lobbying Saudi Crown Prince Mohammed bin Salman to be able to list Aramco, the Tadawul has been scrambling to ready itself. READ MORE

1:17 PM

Avenue Supermarts hits new high; market-cap crosses Rs 900-billion

Avenue Supermarts, which owns and operates D-Mart stores, crossed Rs 900 billion in market capitalisation (market-cap) for the first time on Tuesday after the stock price of the company hit new high on the BSE.
 

Avenue Supermarts with the m-cap of Rs 921.77 billion stands in at number 33rd position in overall m-cap ranking READ MORE

1:01 PM

ICICI Bank hits two-week high; stock up 11% in 6 days

ICICI Bank was up 3.7% to Rs 291 on the BSE in early morning trade on Tuesday, gaining 11% in past six trading sessions. On comparison, the S&P BSE Sensex was up 2% during the same period. The stock was trading at its highest level since March 21, 2018. READ MORE

12:47 PM

STOCK IDEA Shriram Transport Finance

 

After seven years of unchanged profits (INR12b-13b), we expect Shriram Transport Finance to report Rs 18 billion in PAT in FY18, and subsequently, Rs 25 billion / Rs 31 billion in FY19/FY20. RoA (on AUM)/RoE should improve from the lows of 1.7%/11.7% in FY17 to 2.7%/19% in FY20. At 2.0x FY20E BV, we believe the stock is attractively priced.

 

(Source: MOSL)

12:29 PM

Axis Bank rallies 230% under Shikha Sharma; markets see exit as positive

Axis Bank rallied 2.4 per cent at Rs 531 on Tuesday in intra-day deals, extending its Monday’s 3.4 per cent gain on the Bombay Stock Exchange (BSE), after Shikha Sharma, the bank’s managing director and chief executive officer (MD & CEO), decided to step down with effect from December 2018. Sharma took charge as the MD & CEO of the Bank on June 01, 2009, after her stints with ICICI Bank and ICICI Prudential Life Insurance. READ MORE

Shikha Sharma

12:15 PM

Traders have doubts about India's bond rally as banks remain net sellers

India’s bonds have roared back from a seven-month selloff. But traders looking for signs of the rally sustaining may have to wait longer. State-run lenders, the biggest holders of sovereign debt, remained net sellers in five of the past seven days despite the rebound, taking the average daily withdrawals so far this year to Rs 7.1 billion ($111 million), data from the Clearing Corp. of India show. READ MORE

12:08 PM

STOCK UPDATE Kansai Nerolac Paints Ltd – BUY – Target Price: Rs.600

 

We recently interacted with the management of Kansai Nerolac Paints (KNPL) to understand the developments in the company and in the sector. KNPL has been experiencing double digit volume YoY growth across segments since the last 12 quarters surpassing the performance of Asian Paints and Berger. The strong out-performance is on the back of: 1) Strong volume growth witnessed by the paint sector; 2) New and innovative product launches by the company; 3) Strong distribution network of the company (20000+ dealers and 102 depots);4) Heavy promotion through multiple media platforms and 5) Sales aggression exhibited by the company.

Management (and we agree) expect the growth momentum to continue in medium term as well with increasing disposable income, healthy GDP growth, strong automotive demand and private/public sector capex in the country. Recommend BUY with an unchanged TP of Rs 600 at 44x FY20E earnings

(Source: Kotak Securities)

12:06 PM

Kotak Securities on MOIL

We have tweaked estimates, factoring buy back of 8.8 mn shares (3.3% of outstanding equity) and increased capex. Our revised earnings stands at Rs16.3 (earlier Rs15.6), Rs16.9 (earlier Rs16.7) and Rs19.6 (earlier Rs19.3) for FY18E, FY19E and FY20E, respectively. Given its strong business model, robust balance sheet with strong liquidity positions and its dominant position in the domestic market and further improvement likely in the manganese ore realisation, supports our positive stance on the stock. The stock is trading at attractive valuation of 4.6x FY20E EV/EBITDA. We reiterate our BUY rating, with a target price of Rs260.

12:00 PM

Markets at Noon

 

S&P BSE Sensex	33,861.14		0.21%
Nifty 50	10,395.95		0.16%
S&P BSE 200	4,572.28		0.07%
Nifty 500	9,209.70		0.05%
S&P BSE Mid-Cap	16,597.76		-0.15%
S&P BSE Small-Cap	17,921.07		-0.17%

11:46 AM

Sugar Stocks gain

COMPANY	LATEST	PREV CLOSE	GAIN()	GAIN(%)
DWARIKESH SUGAR	28.60	25.70	2.90	11.28
RAJSHREE SUGARS	35.75	32.20	3.55	11.02
SAKTHI SUGARS	19.10	17.45	1.65	9.46
AVADH SUGAR	480.90	441.40	39.50	8.95
RANA SUGARS	5.58	5.13	0.45	8.77

11:30 AM

Shares worth over Rs 13 bn lie unclaimed in top 100 firms

 

More than 100,000 shareholders have unclaimed shares worth billions of rupees in some of India’s largest companies.

 

A Business Standard analysis of the shareholding records of the S&P BSE 100 firms shows that shares worth at least Rs 13.02 billion are lying unclaimed with companies. READ MORE