Sensex ends 193 pts higher, Nifty regains 10250 ahead of Gujarat exit polls

All that happened in today's trade

12:31 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,929.31	-123.73	-0.37
S&P BSE SENSEX 50	10,594.67	-43.80	-0.41
S&P BSE SENSEX Next 50	34,817.09	-215.37	-0.61
S&P BSE 100	10,606.12	-47.39	-0.44
S&P BSE Bharat 22 Index	3,647.13	-16.68	-0.46

12:20 PM

Wealth in real estate may rise twofold in five years: Report

 

Wealth in real estate in the country is likely to double to Rs 121 lakh crore in the next five years, signifying a turnaround for the sector in future, a report said. Individual wealth in real 

 

estate grew by 8.62 per cent to reach Rs 60.25 lakh crore in FY17. Demonetisation, implementation of RERA and GST are transforming real estate sector in India, according to a study by brokerage Karvy India Wealth Report.  READ MORE

12:02 PM

Emerging markets shrug off crises for best gains in eight years

 

In 2017, the world's emerging markets saw blockbuster returns after easy monetary policy and budding global growth joined hands. Currencies and stocks in developing economies are on track for their biggest rallies in eight years. READ MORE

11:47 AM

Videocon, Jaypee dip even as lenders keep them out of insolvency process

 

Stocks of Videocon and Jaiprakash Associates shed up to 5% on the BSE even as lenders decided to keep Videocon Industries, and Jaiprakash Associates out of the insolvency process as these companies are in advanced stage of debt resolution.

 

Videocon hit its lower circuit of Rs 16.70, down 4.84%, while Jaiprakash Associates dipped nearly 2% to Rs 17.65 on the BSE. 

 

A senior official of a public sector bank said Videocon Industries was not taken to the NCLT because it was close to the resolution of its  Rs 21,500-crore debt and because it had sold its Kenstar brand and corporate headquarters to repay loans. As per Videocon officials, its debt worth Rs 23,000 crore is housed with its oil subsidiary - Videocon Hydrocarban which has not defaulted on its loans. READ MORE

11:31 AM

Oberoi Realty gains as brokerage initiates coverage with 'buy' rating

 

Oberoi Realty was up 6% to Rs 481 on the BSE in early morning trade after the brokerage firm Motilal Oswal Securities initiated coverage with ‘buy’ rating on the stock.

 

Oberoi Realty is a Mumbai-focused premium real estate developer, with presence in the residential, commercial and hospitality segments. The sharp focus on delivery of quality products has helped the company create a strong brand over the past 20 years. Its trusted brand enables its projects to enjoy premium, resulting in superior EBITDA margins of >50%. READ MORE

11:16 AM

150 seats in Gujarat for BJP can take Nifty to 10,700 levels, say analysts

 

After a stellar rise of around 26% thus far in calendar year 2017 (CY17), the benchmark indices - S&P BSE Sensex and the Nifty 50 - have remained flat with a marginal fall of 0.22% each in December.

 

Going into the state election results, opinion polls suggested that the Narendra Modi - led Bharatiya Janata Party (BJP) will wrest control from the Indian National Congress (INC) in Himachal Pradesh (HP) and will retain Gujarat, although with fewer seats than in 2012.

 

The outcome of the state elections, experts say, is likely to be viewed as a referendum on Prime Minister Modi's performance, especially the implementation of goods and services tax (GST) bill and could have an impact on future economic policy decisions. READ MORE

11:05 AM

Market Check at 11 am

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,021.59	-31.45	-0.10
S&P BSE SENSEX 50	10,631.19	-7.28	-0.07
S&P BSE SENSEX Next 50	34,970.33	-62.13	-0.18
S&P BSE 100	10,644.26	-9.25	-0.09
S&P BSE Bharat 22 Index	3,659.86	-3.95	-0.11

10:43 AM

Natco Pharma extends gain after QIP launch

 

Natco Pharma rallied 5% to Rs 1,013 on the BSE in an otherwise range-bound market after the company launched share sale through qualified institutional placement (QIP) route on Monday, December 11, 2017.

 

In past four trading sessions, the stock gained 9% from Rs 931, as compared to 0.57% decline in the S&P BSE Sensex.

 

The board of directors of Natco Pharma at their meeting held on November 2, had approved to raise up to Rs 1,500 crore through various modes including QIP, Global Depository Receipts (“GDRs”) or American Depository Receipts (“ADRs”) or Foreign Currency Convertible Bonds (“FCCBs”) or fully convertible /partly convertible debentures, etc. READ MORE

10:24 AM

Pharma stocks gain

Source: NSE

10:00 AM

ICICI Sec seeks Sebi nod to manage own IPO

 

Domestic broking and investment banking major ICICI Securities has sought the Securities and Exchange Board of India’s (Sebi’s) permission to manage its own share sale.

 

This is the first time an investment bank is considering managing its own initial public offering (IPO), said industry players. Sources said the capital markets regulator was currently looking at the “unique request” and might revert in a few weeks.  READ MORE

9:46 AM

Tata Communications surges 9% as board approves demerger of surplus land

 

Tata Communications surged 9% to Rs 758 on the BSE in early morning trade after the company said the board has approved demerger of around 773 acres of surplus land to a separate company and listing it subsequently.

 

"The board of directors of Tata Communications at its meeting held today has approved a draft scheme of arrangement and reconstruction between Tata Communications and Hemisphere Properties India Limited (HPIL) and their respective shareholders," Tata Communications said in a BSE filing. READ MORE

9:37 AM

Sebi norm on profit-sharing puzzles firms

 

Norms issued by the Securities and Exchange Board of India (Sebi) on profit-sharing agreements have forced companies to seek clarifications. Around six companies have sought informal guidance over applicability of the provisions in various situations.  An informal guidance is a method for entities to seek interpretation from the market regulator on any regulation, circular or guideline. READ MORE

9:31 AM

Sectoral Trend

Source: NSE

9:22 AM

Top Sensex gaienrs and losers

Source: BSE

9:20 AM

Broader Markets

Among broader markets, the BSE Midcap was up 0.5% while the BSE Smallcap index was up 0.4%