MARKET WRAP: Cong-JD(S) alliance buzz in Karnataka keeps sentiment in check

The markets pared gains to turn flat on reports of Congress-JD(S) alliance in Karnataka

12:13 PM

BS SPECIAL Karnataka poll result surprised markets; limited upside from here: U R Bhat

It is a good performance by the Bharatiya Janata Party (BJP) in the Karnataka Assembly polls and this is being reflected well in the enthusiasm shown by the markets. The upbeat performance at the bourses was warranted, given the surprising outcome.

 

However, this is as far as the markets will go in the short term. They were already factoring in a good performance – though not exactly a majority – ahead of the poll result. The performance has actually been better than expected READ THE FULL TEXT HERE

12:05 PM

Partywise Trends at 12:02 pm

11:59 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,834.99	+278.28	+0.78
S&P BSE SENSEX 50	11,393.70	+84.34	+0.75
S&P BSE SENSEX Next 50	33,228.34	+153.61	+0.46
S&P BSE 100	11,194.64	+78.20	+0.70
S&P BSE Bharat 22 Index	3,630.22	+20.06	+0.56

11:48 AM

Godrej Agrovet March quarter profit drops 54% to Rs 320 mn, income up 15%

Godrej Agrovet Ltd has reported a 54 per cent drop in its net profit for the quarter ended March 31, 2018, at Rs 320.1 million. The profit for the corresponding quarter in the previous fiscal was Rs 571.4 million. The company's total income, however, was up 15.13 per cent for the quarter under review, to Rs 12.05 billion, from Rs 10.47 billion a year ago. READ MORE

11:37 AM

Dr. Lal PathLabs surges 16% on strong Q4 results

 

Shares of Dr. Lal PathLabs have surged by 16% to Rs 931 per share, also their 52-week high on the BSE in intra-day trade after the company reported a better than expected 27% year on year (YoY) growth in net profit at Rs 402 million in March quarter (Q4FY18). The company had profit of Rs 316 million in year ago quarter. READ MORE

11:29 AM

Double-digit growth boosts HUL's Q4 show; management cautious about outlook

 

Led by robust volume growth of 11 per cent across its four key segments, Hindustan Unilever reported a 16 per cent year-on-year (y-o-y) increase in revenues for the March quarter (Q4). While the numbers are adjusted for the impact of the goods and services tax (GST), growth metrics reported by the company are similar to those reported in the December quarter. READ MORE

11:21 AM

Partywise Trends at 11:20 am

11:15 AM

Asian Paints, HDFC Bank among 5 Sensex stocks that hit new high

Asian Paints, HDFC Bank, Hindustan Unilever (HUL), IndusInd Bank and Kotak Mahindra Bank - were among the 5 S&P BSE Sensex stocks tha hit their respective record high after the benchmark index rally more than 1% as BJP leading in Karnataka. JSW Steel, Magma Fincorp, Nestle India and Pidilite Industries from the S&P BSE500 index, too, hit new high on the BSE in intra-day on Tuesday READ MORE

11:05 AM

Avenue Supermarts, IndiGo gain on inclusion in MSCI index

 

Avenue Supermarts, which operates the chain of D-Mart stores, and InterGlobe Aviation, the company that operates IndiGo are trading higher by up to 5% after these stocks along with 32 other scrips were included in the MSCI India Domestic and MSCI India Domestic Small Cap Index with effect from June 1, 2018. Total 18 stocks were deleted from these indices.

 

Avenue Supermarts, Biocon, HDFC Standard Life Insurance and InterGlobe Aviation were included in the MSCI India Domestic Index, which will take place as of the close of May 31, 2018, MSCI said in a press release. IDFC Bank, Power Finance Corporation and Vakrangee were deleted from the index. READ MORE

11:03 AM

IIFL on Karnataka poll outcome

Early indications suggest a strong lead for BJP, just short of absolute majority, in Karnataka Assembly elections. This will go extremely well with the stock market, as it will anticipate the BJP forming the government on its own, possibly with the help of Independent candidates. Importantly, BJP’s huge tally will mean, it will hold all key ministries, which would have been shared, in case a strong partner was to ally with them. This ensures tighter control on the state. The verdict will be seen as a big sentimental positive for the indices, which were factoring in a severely fractured mandate. Market will take cues from this victory and expect similar result in the General Elections of 2019. Stability in government is what the stock market is seeking

10:51 AM

SAIL likely to report average annual volume growth of 11% for FY19

 

Steel Authority of India (SAIL) has seen its stock price fall 28 per cent to Rs 72.9, since its peak at the start of this calendar year. While the Street’s sentiment has remained upbeat, the government-owned entity's much delayed capacity expansion, concerns on a global tariff war impacting this sector and overall market decline led to the muted return. READ MORE

10:41 AM

Partywise trends at 10:38 am

10:30 AM

Stocks at all-time high

COMPANY	LATEST	ALL TIME HIGH	PREV HIGH	PREV DATE	VOLUME
ASIAN PAINTS	1310.10	1313.50	1306.70	14-MAY-2018	13670
HDFC BANK	2061.60	2063.75	2026.70	14-MAY-2018	48524
HIND. UNILEVER	1525.85	1543.25	1521.60	14-MAY-2018	60849
INDUSIND BANK	1947.00	1949.50	1918.00	14-MAY-2018	13569
JSW STEEL	340.60	342.45	331.30	30-APR-2018	198953

10:20 AM

MARKET COMMENT VK Sharma, Head Private Client Group & Capital Market Strategy at HDFC Securities

Going by the trends and the leads so far, with BJP emerging as a the single largest party , markets are relieved. Even if the Congress forms the Government with the help of the JDS, the markets won’t be perturbed. The markets will now start looking at the international commodity prices and the movement of the Dow. Early monsoon arrival forecast augurs well for the markets

10:12 AM

HUL hits new high as Q4 sales volume beats estimates

 

Hindustan Unilever (HUL) hit a new high of Rs 1,543, up 2.5% on the BSE in early morning trade, after the fast moving consumer goods (FMCG) major reported a better than expected sales volume growth of 11% in March quarter (Q4FY18). Analysts expected sales volume growth in the range of 5% to 8%.

 

HUL reported 14.2% increase in its standalone net profit to Rs 13.51 billion in Q4FY18, driven by a strong double digit volume growth. The company had posted a net profit of Rs 11.83 billion in January-March period a year ago. READ MORE