F&O Expiry: Sensex rises 157 pts, Nifty settles at 10,780 led by RIL, TCS

Among the sectoral indices, the Nifty IT index rose 1.4 per cent led by Infosys and TCS. Nifty FMCG index, too, rose, 1.3 per cent led by Marico and ITC.

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10:37 AM

KNR Constructions hits three-month high; up 32% in two months

Shares of KNR Constructions (KNRCL) hit a three-month high of Rs 225, up 8% on Thursday, extending its Wednesday’s 3% gain on BSE, on the expectation of strong earnings growth over the medium-term. The stocks of the construction and engineering company were trading at its highest level since September 6, 2018. In the past two months, it rallied 32% as compared to a 7.5% rise in the S&P BSE Sensex. Read more

10:28 AM

Govt set to release Rs 286.15-bn bank recapitalisation funds before Dec-end

The central government would release Rs 286.15 billion before the end of this month towards a fresh tranche of funds to recapitalise state-run banks, according to a source in the finance ministry.

Of this, United Bank of India is likely to get Rs 21.59 billion, Central Bank of India Rs 16.78 billion, Bank of India Rs 100.86 billion, Uco Bank Rs 30.56 billion, Oriental Bank of Commerce Rs 55 billion, Bank of Maharashtra Rs 44.98 billion, and Syndicate Bank Rs 16.38 billion. READ MORE

10:19 AM

S&P BSE Oil and Gas up 0.18%

10:13 AM

Top gainers on BSE500

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
KNR CONSTRUCT.	220.15	13.75	6.66	48066
MMTC	30.75	1.35	4.59	232691
AVANTI FEEDS	394.00	16.50	4.37	17481
HEG	3717.00	150.65	4.22	11246
JAI CORP	110.85	4.35	4.08	62151

» More on Top Gainers

10:00 AM

Kotak Securities on Prism Johnson

At current price, the stock is trading at 62.9x P/E and 16.4x EV/EBITDA on FY18 estimates. We believe that demand environment in tiles segment remains challenging but its cement segment is adequately placed to capture the strong demand in its key operating regions. Going ahead, the focus of the company would be on improving the utilization at its plants, which will lead to margin improvement and better working capital management. We do not have any rating on the stock.

9:59 AM

NEWS ALERT Three banks that may exit from PCA framework are Bank of India, OBC, Bank of Maharashtra with latest recap, according to TV reports

9:56 AM

NEWS ALERT | PSB recapitalisation

Syndicate Bank likely to get Rs 16.38 billion, Bank of India - Rs 100.86 billion, UCO Bank will get Rs - 30.56 billion, Oriental Bank of Commerce will get Rs 55 billion, United Bank of India Rs 21.59 billion, Bank of Maharashtra - Rs 44.98 billion, Central Bank - Rs 16.78 billion

9:56 AM

NEWS ALERT | 7-8 banks likely to be issued recapitalization bond worth Rs 280 billion

9:55 AM

NEWS ALERT Next tranche of PSBs recap bond worth Rs 280 billion may be issued today or tomorrow, according to TV reports

9:44 AM

NEWS ALERT | L&T Construction wins orders worth Rs 23.57 billion; stock trades flat

9:42 AM

Motilal Oswal Financial Services on Petronet LNG

The stock is trading at 11.1x Dec’20 EPS of Rs 20.1 and 6.6x Dec’20 EV/EBITDA. We value the stock using DCF (WACC of 12%, terminal growth of 3%). With a target price of Rs 317, we reiterate our Buy rating on the stock.

Key triggers to watch out:

(i) progress on the completion of Kochi-Mangalore pipeline;

(ii) ramp-up of domestic gas production; and

(iii) progress of Dahej expansion from 15mmtpa to 17.5mmtpa.

9:40 AM

Pressure on cement companies amid price recovery delay due to higher supply

Recovery in cement realisations continues to elude the sector, even in December, with hopes of a meaningful improvement now carried forward to 2019. While there was optimism that cement prices may recover at the end of the festive season (Dussehra and Diwali), this was not the case as there was no improvement in prices for the fifth month in a row. The reason for the pressure on prices is higher supply — driven by cement majors trying to gain market share, ongoing brownfield expansions, and increasing utilisation of acquired capacities. Read more

9:32 AM

Nifty IT index up over 1%