Sensex tumbles 363 pts, Nifty below 11,600 on Trump's trade threat to China

All that happened in the markets today

9:56 AM

Canara Bank slips over 1%

ICRA has downgraded ratings of Additional Tier-I bonds to AA- from AA with stable outlook. 

9:55 AM

Nifty PSU Bank is trading over 1% lower

9:53 AM

Titan Company slides almost 1.5%

9:50 AM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
TATA MOTORS	200.15	-9.35	-4.46	414762
GREENPLY INDS.	151.95	-6.35	-4.01	2391
JINDAL STEEL	174.75	-6.85	-3.77	98581
DEWAN HSG. FIN.	136.05	-5.30	-3.75	435672
TATA MOTORS-DVR	96.70	-3.70	-3.69	116329

9:48 AM

Nifty outlook by Prabhudas Lilladher

NIFTY VIEW

 

Nifty has 11700 as the crucial support for now, a break below 11715 levels will damage the weekly & daily trend. Market continues to have a stock specific move with RIL, ICICI, HDFC Bank, Kotak Bank, etc. The support for the week is seen at 38420/11540 while resistance is seen at 39550/11900. Bank Nifty would have a range of 29400-30540 and has the weekly trend down by 2 weeks. Among Nifty 50 stocks the weightage is tilted more on the negative with 29 stocks weighing 63%.

 

 

9:46 AM

Bharti Airtel slips ahead of Q4 results

9:43 AM

Mcleod Russel India hits fresh low, slips 7%

9:41 AM

Cadila hits 52-week low on 14 observations from USFDA for Moraiya plant

Cadila Healthcare shares hit a 52-week low of Rs 292, down 4 per cent in early morning trade on Monday, extending its Friday’s 3.5 per cent fall on the BSE, after getting 14 observations from US health regulator for its Moraiya plant. The US Food and Drug Administration (USFDA) have issued 14 observations after inspecting its manufacturing facility at Moraiya in Ahmedabad, Cadila Healthcare said in a regulatory filing. READ MORE

File photo of Cadila Healthcare's Moraiya facility

9:38 AM

Edelweiss on Sunteck Realty

Pick-up in sales in BKC & ODC projects and launch of Naigaon Phase II are key drivers of the stock, in our view. Pending greater clarity regarding certain aspects of the new accounting standard IND-AS 115 adopted w.e.f. April 1, 2018, we continue to follow the old AS. Maintain ‘BUY’ with revised target price of Rs 477 (Rs 452 earlier) as we factor in faster-than-expected completion of under-construction projects

9:37 AM

Elara capital on Godrej Consumer Products

We cut our estimates by 11% for FY20E and 13% for FY21Eto factor in 1) low & concentrated volume growth of 7% in FY20E and 12% in FY21E from 12% and 15%, respectively. We roll forward to March 2021E EPS of Rs 17.4 and arrive at a lower target price of Rs 662 from Rs 776  on 38x (unchanged) FY21E earnings. We reiterate Reduce

9:35 AM

Equirus Securities on Blue Star (BLSTR)

With strong growth levers in place, we expect 13%/17% revenue/EBITDA CAGR for BLSTR over FY19-FY22E. We maintain sales estimates, see above-industry RAC growth for the company (on price hikes, better product mix), and expect profitability to improve yoy. Accordingly, we raise EBITDA/PAT by 2%/4% for FY20E and 1%/2% for FY21E. Reiterate ADD with a Mar’20 target price of Rs 730

9:35 AM

Tata Steel down 3.2%

9:34 AM

Antique Stock Broking on HUL

HUL's profit margin expansion will continue during FY20, which will be mainly achieved through cost efficiencies and supply chain cost savings. The management expects demand environment to be stabilize in the medium term. In view of the ensuing moderation in demand, we are cutting our EPS expectations by 2% and 3% for FY20e and FY21e respectively. We now expect revenue CAGR of 12% and net profit CAGR of 16% for HUL's standalone business during FY19-21e. We maintain, recommend HOLD with a revised target price of Rs 1,746

9:34 AM

Jefferies on HUL

Hindustan Unilever (HUL) Q4FY19 sales (up 9.3% YoY), EBITDA (up 13.3% YoY) and PAT (12.8% YoY) came broadly in line with our estimates. Though 7% YoY volume growth on a high base of 11% YoY was a positive surprise amidst softer volumes reported by other FMCG companies, pace of margin expansion was a tad below. Given rural demand slowdown in near term and slower pace of margin expansion going ahead, valuation remains rich at ~45x FY21 PE. Maintain HOLD

9:32 AM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
JM FINANCIAL	86.70	1.40	1.64	12612076
RELIANCE POWER	6.70	0.22	3.40	771373
YES BANK	170.70	-4.90	-2.79	346402
VODAFONE IDEA	16.50	0.40	2.48	244101
FEDERAL BANK	99.90	2.15	2.20	214490