MARKET WRAP: Indices end flat ahead of July F&O expiry; SBI up over 1%
Among sectoral indices, the Nifty PSU Bank index ended 1% higher led by a rise in Canara Bank, Indian Bank and State Bank of India.
 "SMEs, banks, foreign exchange, markets, forex, small and medium price industries,")
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)
10:01 AM
Edelweiss on Greenlam Industries
Factoring in the weak results and margin pressure, we are cutting the FY19/20 estimates by 11%/13%. We are also slashing the target multiple by 10% to 24x based on a slower-than-expected pickup in demand and a sluggish trend in the anticipated shift towards organised players. Thus, we are revising down the target price to Rs 1,100 (from Rs 1,430).
That said, given its presence in niche segments and the potential turnaround of new segments, Greenlam will deliver an EPS CAGR of 31% over FY18–20 with an FY20E ROCE of 30% in our view. Maintain ‘BUY’.
That said, given its presence in niche segments and the potential turnaround of new segments, Greenlam will deliver an EPS CAGR of 31% over FY18–20 with an FY20E ROCE of 30% in our view. Maintain ‘BUY’.
10:01 AM
Market Check
| S&P BSE Sensex | 36,878.79 | 0.15% | |
| Nifty 50 | 11,142.55 | 0.07% | |
| S&P BSE 200 | 4,778.84 | 0.22% | |
| Nifty 500 | 9,468.25 | 0.19% | |
| S&P BSE Mid-Cap | 15,719.74 | 0.35% | |
| S&P BSE Small-Cap | 16,302.46 | 0.52% | |
9:49 AM
RESULT IMPACT Symphony tanks 20% on weak Q1 results
Shares of Symphony tanked 20% to Rs 1,125 per share, also their 52-week low on the National Stock Exchange (NSE) in early morning trade after the company’s consolidated net profit almost halved to Rs 200 million in June 2018 quarter (Q1FY19), on account of lower sales. Symphony, a world leader in evaporative air coolers, had a profit of Rs 390 million during the same quarter in the previous fiscal READ MORE HERE
9:48 AM
WEB EXCLUSIVE HDFC AMC IPO opens for subscription today. Should you invest?
The initial public offer (IPO) of HDFC Asset Management Company (AMC) opens today for subscription. The issue, which remains open till July 27, comprises of up to 25457555 equity shares of face value of Rs 5 each. The price band for the offer is fixed at Rs 1,095 - 1,100 per share. Bids can be made for a minimum lot of 13 equity shares and in multiples of 13 equity shares thereafter. READ MORE HERE
The initial public offer (IPO) of HDFC Asset Management Company (AMC) opens today for subscription. The issue, which remains open till July 27, comprises of up to 25457555 equity shares of face value of Rs 5 each. The price band for the offer is fixed at Rs 1,095 - 1,100 per share. Bids can be made for a minimum lot of 13 equity shares and in multiples of 13 equity shares thereafter. READ MORE HERE
Illustration: Ajay Mohanty
9:32 AM
HDFC Mutual Fund allots Rs 7.3 billion shares to anchor investors
HDFC Mutual Fund (MF) on Tuesday allotted shares worth Rs 7.3 billion to anchor investors ahead of its Rs 28-billion initial public offering (IPO). The shares were allotted at Rs 1,100 apiece — the top-end of the price band. Some of the investors’ allotted shares include Capital, Fidelity, Blackrock and Temasek. READ MORE
9:23 AM
Nifty sectoral trend
9:22 AM
BSE Sensex gainers and losers
9:18 AM
Market at open
At 9:15 AM, the S&P BSE Sensex was trading at 36,875, up 50 points while the broader Nifty50 was ruling at 11,140, up 6 points.
9:03 AM
Markets at pre-open
(Source: BSE)
| Index | Current | Pt. Change | % Change |
| S&P BSE SENSEX | 36,953.49 | +128.39 | +0.35 |
| S&P BSE SENSEX 50 | 11,684.51 | +31.39 | +0.27 |
| S&P BSE SENSEX Next 50 | 32,659.34 | +84.90 | +0.26 |
| S&P BSE 100 | 11,408.08 | +30.50 | +0.27 |
| S&P BSE Bharat 22 Index | 3,433.67 | +12.65 | +0.37 |
(Source: BSE)
8:56 AM
Technical calls by HDFC Securities: Buy Surya Roshni, KEC International
Buy Surya Roshni
CMP: Rs 350
Target: Rs 380
Stop-loss: Rs 330
Stock price formed multiple bottoms in the range of 300-315 and bounced northward with the jump in volumes. Primary trend of the stock has been bullish with higher tops and higher bottoms on the monthly chart. The stock price has surpassed the crucial resistance of its 50 DMA. We recommend buying Surya Roshni for the upside target of 380, keeping SL at 330.
Buy KEC International
CMP: Rs 344.60
Target: Rs 370
Stop-loss: Rs 325
Stock price formed multiple bottoms in the range of 315-320 and bounced northward with a jump in volumes. The stock has been one of the out-performer in the mid-cap space for last 7 months. Oscillators and indicators have turned bullish on the short-term charts. We recommend buying KEC International for the upside target of 370, keeping SL at 325. READ MORE
8:53 AM
Today's picks: From L&T to Tata Steel, hot stocks to watch on Wednesday
Larsen & Toubro
Current price: Rs 1,324
Target price: Rs 1,345
Keep a stop at Rs 1,215 and go long. Add to the position between Rs 1,335 and Rs 1,340. Book profits at Rs 1,345.
Tata Steel
Current price: Rs 528
Target price: Rs 537
Keep a stop at Rs 523 and go long. Add to the position between Rs 534 and Rs 536. Book profits at Rs 537. READ MORE
8:50 AM
Top trading ideas by Prabhudas Lilladher: Buy Bank of India, Hind Zinc
BUY BANK OF INDIA
CMP: Rs 87.85
TARGET: Rs 103
STOP LOSS: Rs 80
The stock has witnessed much erosion from the peak level and recently has bottomed out at around 76.50 levels and given a bounce back. The current cluster of positive candles signify strength and has the potential to rise further in the coming days to scale till 100-103 levels. The RSI has recently indicated a trend reversal to signal a buy and is on the rise. With consistent decent volume participation witnessed, we recommend a buy in this stock for an upside target of 103 keeping a stop loss of 80.
BUY HIND ZINC
CMP: Rs 272.60
TARGET: Rs 305
STOP LOSS: Rs 260
The stock has indicated a good revival from the bottomed made at around 260 levels and looks potential for an upward move with potential and strength and with the RSI currently showing a trend reversal has also signaled a buy. The chart looks attractive for further rally and can scale upto 300-310 levels. With good volume activity seen, we recommend a buy in this stock for an upside target of 305 keeping a stop loss of 260. READ MORE
8:48 AM
Nifty outlook by Prabhudas Lilladher for today:
Nifty much to our liking continues to surge with supporting indicators and participation coming from many frontline stocks which looks healthy along with mid-cap showing signs of bottoming out and moving higher. The support for the day is seen at 11070 while resistance is seen at 11200. Axis, ICICI, SBI now have a favourable risk reward ratio.
8:45 AM
Technical calls by Religare Broking: Buy Dabur India, Muthoot Finance
Dabur India Limited
Rec: BUY
Last Close: Rs 373.70
Initiation range: Rs 370-372
Target: Rs 385
Stop loss: Rs 365
DABUR, after making a new record high in June, 2018, retraced marginally of late and tested support zone of 100 EMA on the daily chart. Currently, it hovering in narrow range around that area and formed a fresh buying pivot. We suggest traders to initiate fresh longs as per given levels.
Muthoot Finance Limited
Rec: BUY
Last Close: Rs 409.65
Initiation range: Rs 400-405
Target: Rs 430
Stop loss: Rs 385
MUTHOOTFIN has been witnessing correction for last eight months, after it failed to close the resistance barrier of its record high in November, 2017. It formed a base around 365 levels and recovering gradually from thereon. Indications are in the favour fresh surge. We advise traders not to miss this opportunity and create fresh longs as per the mentioned zone. READ MORE
8:41 AM
Markets on Tuesday
| S&P BSE Sensex | 36,825.10 | 0.29% | |
| Nifty 50 | 11,134.30 | 0.45% | |
| S&P BSE 200 | 4,768.52 | 0.82% | |
| Nifty 500 | 9,450.65 | 0.93% | |
| S&P BSE Mid-Cap | 15,664.48 | 1.77% | |
| S&P BSE Small-Cap | 16,218.54 | 2.21% | |
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First Published: Jul 25 2018 | 8:15 AM IST
