Business Standard

Saturday, January 04, 2025 | 04:34 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Sensex ends over 600 points higher, Nifty above 10,400 mark on global cues

All that happened in the markets today.

Image SI Reporter New Delhi
Markets, Stocks, Shares

A share broker monitors market fluctuation

5:12 AM

IPO Watch: Bharat Dynamics

As per Frost and Sullivan (F&S), domestic opportunity for guided missiles and torpedoes over the next 10 years stand at US$24.5bn. BDL’s product offerings are capable to cash in on 53.5% of this opportunity. The company is also expanding its export presence to lower its dependence on the Indian market. We believe large orders in the missile space would be back-ended and would start contributing to revenues from FY21. At the upper band, the issue is valued 16x FY17 P/E. Earnings are expected to decline on account of lower other income and lower revenue growth. We foresee no near-term triggers in the stock and valuations appear fair. Investors adopting a long-term view on the growing opportunities emanating from massive spends in the defence space can subscribe

(Source: IIFL)
5:00 AM

Time for deep correction? We can see 50% being chopped off peak prices

During the latter stages of a bull run, just before a big crash, you’ll hear many people insisting ‘This time it’s different’. Those words should act like a morning alarm. They indicate an attitude of over-confidence that leads to excessive risk taking. Investors who have received big returns over a long period tend to be over-confident. READ MORE
4:55 AM

Sector Watch: Energy
 
As in the past few months, India's oil demand rose a robust 7.7% y/y or 0.3mbpd in Feb18. Stripped off strong demand in petcoke and others, prone to revisions, growth was more moderate at 5%, however, with the soft-year ago base helping too. The 2-yr CAGR is just 3%, e.g., with diesel sluggish. Nonetheless, margins are more important for downstream SOEs where 4QFY18 appears strong helped by the recovery in auto fuel margins. We prefer IOCL and like ONGC too.
 
(Source: Jefferies)
4:49 AM

BSE Midcap: Vakrangee, Mphasis among top gainers, Central Bank top loser

4:45 AM

Andhra Bank hits 14-yr low as ED files chargesheet against ex-bank official

Shares of Andhra Bank hit almost 14-year low to Rs 33.60, falling 13% on the BSE in early morning trade, after the media report suggested that the Enforcement Directorate (ED) on Friday filed a chargesheet against a former director of the state-owned bank in an alleged Rs 50 billion bank fraud case involving a Gujarat-based pharma firm. The stock is trading at its lowest since May 17, 2004, when it touched Rs 30 during intra-day trade. READ MORE
4:35 AM

Market Check

 
S&P BSE Sensex 33,627.02 Up 0.96%
 
Nifty 50 10,324.20 Up 0.95%
 
S&P BSE 200 4,502.98 Up 0.93%
 
Nifty 500 9,060.05 Up 0.82%
 
S&P BSE Mid-Cap 16,112.71 Up 0.78%
 
S&P BSE Small-Cap 17,418.11 Up 0.65%

4:30 AM

PNB scam: Are public sector banks good contra bets in Indian markets?

The Nirav Modi scandal at Punjab National Bank (PNB) has shaken investors' faith in the banking sector, raising serious issues about the governance standards at public sector banks (PSBs). Many PSB stocks have taken huge hits. However, as the long-term track record of the Nifty Bank index and banking sector funds shows, investors who continue to repose faith in the sector could be richly rewarded over the long term. READ MORE
4:15 AM

AC stocks: Voltas, Blue Star to see growth momentum, Havells is a key pick

The manufacturers of air-conditioners (ACs) and air coolers are expected to have a dream run on the bourses following a surge in demand with temperatures set to be higher this summer season. The Met office has warned of above-normal temperature in North India and in other parts of the country. READ MORE
4:05 AM

Bandhan Bank IPO: Short-term investors can easily avoid this 'tie-up'

On fundamentals, the prospects for Bandhan Bank (Bandhan), which is coming out with its initial public offering (IPO) on March 15, remain robust -- it has a strong asset quality, high profitability as well as growth rates. However, the asking rate is on the higher side, say most analysts, who believe that there is nothing left on the table from the short-term perspective. Moreover, some analysts are also sceptical of Bandhan's short stint of 3-4 years as a bank. READ MORE
3:52 AM

Market Trend (Image source: NSE)

3:51 AM

BSE Sensex gainers and losers

3:50 AM

PSU Banks trade weak. Andhra Bank, Oriental Bank of Commerce, IDBI lose ground (Image source: NSE)


3:48 AM

Index watch

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,555.92 +248.78 +0.75
 
S&P BSE SENSEX 50 10,772.33 +88.56 +0.83
 
S&P BSE SENSEX Next 50 33,004.99 +242.38 +0.74
 
S&P BSE 100 10,664.01 +86.22 +0.82
 
S&P BSE Bharat 22 Index 3,515.82 +27.20 +0.78

(Source: BSE)
3:47 AM

Market at open
 
At 9:17 am, the S&P BSE Sensex was trading at 33,587, up 280 points while the broader Nifty50 was ruling at 10,316, up 89 points.
3:46 AM

STOCKS IN NEWS

Trident Ltd has proposed expansion plans in the State of Madhya Pradesh with the total capital outlay in the tune of Rs 7200 crore in phased manner:
 

 
CCI approved the acquisition of Reliance Communication’s towers, optic fibre cable, right to use spectrum and media convergence nodes by Reliance Jio.

Bhushan Steel clarified that Chairman BB Singhal appeared before SFIO on March 8.

Dolphin Offshore Enterprises bagged order worth Rs 6.75 crore from RAL, Malaysia.

Power Grid won contract to establish transmission system for “New WR-NR 765 kV Inter-Regional Corridor”.

Bharat Wire Ropes seeks to raise Rs 50 crore via equity or debt.

Bharti Airtel received NCLT approval for merger of Telenor with self.

ARSS Infrastructure bagged work order worth Rs 15.44 crore.

Amber Enterprises to acquire 70 % in Ever Electronics.

MOIL approved the setting up ferro alloy plants at Balaghat and Gumgaon for Rs 418.8 crore.

Peninsula Land to acquire additional 6.4 % stake in Hem Infra for Rs 13.79 crore.

Aarti Drugs said that its unit in Tarapur MIDC got affected by explosion. The affected plant contributed about 16 % to the company's total revenue as of Dec. 31.

ONGC to sell stake in Gujarat Petrochem project to fund HPCL acquisition.

Arvind promoter Aura Securities pledged 42.50 lakh shares, or 1.64 % stake in favor of Bajaj Finance against loan to be availed.

Avanti Feeds, Apex Frozen Foods, Waterbase: U.S. Department of Commerce has suggested a hike in anti-dumping duty on Indian shrimp to 2.34 %from 0.84%. Indian shrimp exporters subject to new rates.

Consortium of Jet Airways, France-KLM and Delta is understood to have expressed interest in national carrier Air India (PTI).

Spice Jet signed deal with CFM International for $12.5bn for purchase of LEAP -1B engine order for 155 737 MAX airplanes.Add on long term service agreement

Goa Carbon Revoked suspension for 3 months at Goa plant for manufacturing of upto 20,000 mt of CPC

DHFL proposes to issue NCDs worth Rs 500 cr with an additional Rs 250 cr of greenshoe option

NTPC may buy Bihar State Power Holding Co for Rs 3000cr

(Source: Nirmal Bang)

Topics :

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 12 2018 | 3:30 PM IST