Market snaps 9-day losing streak; Sensex jumps 227 pts, Nifty over 11,200
All that happened in the markets today
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2:37 PM![]()
NEWS ALERT | China hints at resolving trade war with US: Reuters
- China and the United States both have the “ability and wisdom” to reach a trade deal that is good for both, a Chinese government’s top diplomat said, as US President Donald Trump said he thought recent talks in Beijing would be successful.
2:31 PM![]()
Indigo receives over 125 slots, Vistara 110 slots; GoAir, Air Asia India get around 40-45 slots: CNBC TV18
2:30 PM
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Sector watch | SpiceJet, IndiGo grab most slots of Jet Airways
| COMPANY NAME | LATEST | HIGH | LOW |
CHG (rs) | CHG(%) |
VALUE (rs CR) | VOLUME |
|---|---|---|---|---|---|---|---|
| JET AIRWAYS | 128.25 | 133.90 | 122.10 | -11.20 | -8.03 | 23.62 | 1841664 |
| SPICEJET | 121.95 | 122.40 | 114.70 | 3.65 | 3.09 | 21.57 | 1768776 |
| INTERGLOBE AVIAT | 1567.00 | 1578.00 | 1541.00 | 11.95 | 0.77 | 5.70 | 36386 |
| JAGSON AIRLINES | 0.73 | 0.73 | 0.73 | 0.03 | 4.29 | 0.00 | 10200 |
| GLOBAL VECTRA | 65.10 | 65.10 | 65.10 | -3.40 | -4.96 | 0.01 | 905 |
| TAAL ENTERPRISES | 270.05 | 294.00 | 270.05 | -11.85 | -4.20 | 0.00 | 25 |
2:30 PM![]()
NEWS ALERT | Spicejet emerges as bigest gainer in slot allocation so far with 130 slots: CNBC TV18
2:27 PM![]()
NEWS ALERT | Flight slot allocation committee allocates 480 of 750 slots of Jet Airways: CNBC TV18
2:24 PM![]()
HDFC Securities on Larsen & Toubro
Last close: Rs 1,318
Target price: 1,794
Recommendation: Buy
We recommend a BUY on Larsen & Toubro (LT) with SoTP of Rs 1,794/sh. Reduction in subsidiaries losses, majorly provided transportation project overruns, order pick up in Domestic/International markets and strong cash flow make L&T an anchor play on infra investment and capex recovery. Higher services share in the mix will improve RoEs further. Working capital is at optimal levels. A tight lid on asset capex will only help further re-rating.
Target price: 1,794
Recommendation: Buy
We recommend a BUY on Larsen & Toubro (LT) with SoTP of Rs 1,794/sh. Reduction in subsidiaries losses, majorly provided transportation project overruns, order pick up in Domestic/International markets and strong cash flow make L&T an anchor play on infra investment and capex recovery. Higher services share in the mix will improve RoEs further. Working capital is at optimal levels. A tight lid on asset capex will only help further re-rating.
2:23 PM
Jubilant Foodworks rises almost 2%
2:06 PM
» More on 52 Week Low![]()
Stocks that hit 52-week low on S&P BSE Sensex
| COMPANY | PRICE(rs) | 52 WK LOW | CHG(rs) | CHG(%) |
|---|---|---|---|---|
| AMARA RAJA BATT. | 630.85 | 621.80 | 5.80 | 0.93 |
| APOLLO TYRES | 178.85 | 178.35 | -6.90 | -3.71 |
| ASAHI INDIA GLAS | 216.90 | 210.00 | -1.60 | -0.73 |
| ASTER DM HEALTH. | 133.30 | 132.10 | -2.80 | -2.06 |
| BHARAT FORGE | 454.15 | 448.85 | 3.35 | 0.74 |
1:56 PM![]()
HDFC Securities on Eicher Motors
Last Close: Rs 20,354
Target Price: Rs 18,900
Recommendation: Sell
Eicher Motors’ 4Q APAT of Rs 5.4bn (-16% YoY, +2% QoQ), missed our estimates. The 30% EBITDA margin trajectory is behind. In our view, the new margin band is 26-29%. We are lowering estimates for FY20-21 by ~7%. Our revised SOTP is Rs18,900 (21x FY21E, earlier 22x). Re-iterate SELL.
Target Price: Rs 18,900
Recommendation: Sell
Eicher Motors’ 4Q APAT of Rs 5.4bn (-16% YoY, +2% QoQ), missed our estimates. The 30% EBITDA margin trajectory is behind. In our view, the new margin band is 26-29%. We are lowering estimates for FY20-21 by ~7%. Our revised SOTP is Rs18,900 (21x FY21E, earlier 22x). Re-iterate SELL.
1:50 PM![]()
Elara Capital on Parag Milk Foods
Last close: Rs 234
Target price: Rs 366
Recommendation: Buy
Parag Milk Foods (PARAG IN) net sales was up 30% YoY at INR 6.7bn, 13% higher than our estimates, led by 71% YoY growth in SMP, 19.4% of sales. VAD (62.7% of sales) grew by 21% YoY, led by 25% YoY volume growth. Liquid milk, 16.3% of sales, grew by 9% YoY. Gross margin shrank by 240bp YoY and 300bp QoQ, due to unfavorable mix as salience of SMP increased by 460bp to 19.4% and price hikes in response to milk inflation in terms of reduction on discount, down 400bp YoY, was taken only in March 2019. EBITDA was down 20.7% YoY at INR 437mn, 28% lower than our estimates. EBITDA margin was contracted 413.7bp YoY to 6.5%, due to gross margin contraction and higher other expenses, which were up 194bp YoY. PAT was up 20% YoY at INR 313mn, 5.8% higher than our estimates, due to higher other income, lower interest cost and tax rate (tax reversal from previous year).
Target price: Rs 366
Recommendation: Buy
Parag Milk Foods (PARAG IN) net sales was up 30% YoY at INR 6.7bn, 13% higher than our estimates, led by 71% YoY growth in SMP, 19.4% of sales. VAD (62.7% of sales) grew by 21% YoY, led by 25% YoY volume growth. Liquid milk, 16.3% of sales, grew by 9% YoY. Gross margin shrank by 240bp YoY and 300bp QoQ, due to unfavorable mix as salience of SMP increased by 460bp to 19.4% and price hikes in response to milk inflation in terms of reduction on discount, down 400bp YoY, was taken only in March 2019. EBITDA was down 20.7% YoY at INR 437mn, 28% lower than our estimates. EBITDA margin was contracted 413.7bp YoY to 6.5%, due to gross margin contraction and higher other expenses, which were up 194bp YoY. PAT was up 20% YoY at INR 313mn, 5.8% higher than our estimates, due to higher other income, lower interest cost and tax rate (tax reversal from previous year).
1:46 PM![]()
NEWS ALERT | Edelweiss Q4 result
- Net profit at Rs 232.4 crore , up 3.3 per cent y-o-y
- Revenue at Rs 2,936 crore, up 13.8 per cent y-o-y
- Revenue at Rs 2,936 crore, up 13.8 per cent y-o-y
1:44 PM
Bharti Airtel jumps on revision in payment plan
1:42 PM![]()
NEWS ALERT | ICRA downgrades PTC issued under 6 loan pools by DHFL
Aleert: PTC = Purchaser payouts/pass through certificates.
1:41 PM![]()
NEWS ALERT | Bharti Airtel scraps Rs 299 plan for postpaid, replaces it with Rs 349/Rs 399 plan
1:40 PM![]()
NEWS ALERT | L&T infotech arm partners with Temenos
- L&T arm, Syncrdis, enters into global strategic partnership for cloud solutions
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First Published: May 14 2019 | 7:16 AM IST
