Market snaps 9-day losing streak; Sensex jumps 227 pts, Nifty over 11,200

All that happened in the markets today

10:16 AM

NEWS ALERT | Glenmark Pharma receives USFDA approval for Esomeprazole Magnesium Delayed-Release Capsules USP: CNBC TV18

10:02 AM

SAIL slips nearly 3%

10:01 AM

MARKET CHECK

9:58 AM

HDFC Securities on Cadila Healthcare

Post its recent correction, the stock is available at 20x FY21E EPS. With a nearly Rs 33bn domestic franchise, the ability to generate Rs 10-12bn FCF every year and 18-20% ROEs, TRP merits a higher multiple, in our view. We have increased our multiple from 22x to 24x. Upgrade the stock to BUY with a revised target price of Rs 2,000 (24x FY21E EPS).

9:58 AM

SpiceJet climbs over 2%

9:57 AM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
JET AIRWAYS	128.85	-10.60	-7.60	419706
EDELWEISS.FIN.	153.35	-10.35	-6.32	148752
LA OPALA RG	191.60	-10.40	-5.15	104
KARNATAKA BANK	112.35	-5.85	-4.95	158579
REL. COMM.	2.14	-0.11	-4.89	385283

9:57 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
VODAFONE IDEA	13.70	-0.75	-5.19	2094370
RELIANCE POWER	5.73	0.02	0.35	1130139
IDFC FIRST BANK	41.35	-1.60	-3.73	843362
RELIANCE CAPITAL	108.20	0.75	0.70	763556
YES BANK	156.00	1.15	0.74	612883

9:56 AM

JaiPrakash Associates is trading over 7% lower

9:55 AM

Muthoot Finance rises 4%

9:55 AM

Heatmap: S&P BSE Sensex

9:53 AM

Nifty IT slips 0.7%

9:51 AM

Vedanta climbs over 3%

9:48 AM

SRF skids over 3%

9:47 AM

Jet Airways skids 10% on Etihad's non-binding offer; Deputy CFO resigns

Jet Airways (India) slumped 10 per cent to Rs 126 on the BSE in early morning trade on Tuesday, falling 17 per cent in the past two trading days, following a news report that Etihad Airways had put in stiff conditions in its bid that includes substantial write down of the Rs 9,000-crore loan.
 

Moreover, the cash-strapped airline on Tuesday said Deputy Chief Executive Officer and Chief Financial Officer (CFO), Amit Agarwal has resigned from the company "due to personal reasons, with effect from 13 May 2019." READ MORE

9:46 AM

Motilal Oswal Financial Services on Muthoot Finance

RECO: Neutral

 

TARGET PRICE: Rs 560

 

Over the past few quarters, MUTH has received a tailwind to growth from increasing gold prices and stronger demand. Short loan tenure has ensured positive ALM. This, along with sufficient balance sheet liquidity, has helped it in accessing debt capital at competitive prices. The subsidiaries are also gaining scale and becoming key value contributors – though we do not expect profit from the subsidiaries to exceed 10 per cent of consol. PAT over the near term. We largely maintain our estimates. Maintain Neutral with a TP of Rs 560 (1.8x FY21E BVPS).