Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

All that happened in today's trade

12:41 PM

Rcom hits new low on media reports that Brookefield called off deal

 

Reliance Communications (RCom) hit a new low of Rs 15.50, down 8% on the BSE in intra-day trade as the media report suggests that Brookefield called off the deal with the company after Aircel merger falls through. 

 

The stock has fallen below its previous low of Rs 16.60 touched on October 30, 2017 touched on the BSE in intra-day trade.

12:29 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,704.27	+18.71	+0.06
S&P BSE SENSEX 50	10,876.40	+12.53	+0.12
S&P BSE SENSEX Next 50	36,270.81	+5.85	+0.02
S&P BSE 100	10,914.18	+10.80	+0.10
S&P BSE Bharat 22 Index	3,820.88	-7.43	-0.19

12:00 PM

Disinvestment kitty swells to Rs 37,866 crore

 

The government has crossed the half-way mark towards achieving the 2017-18 disinvestment target. Following the conclusion of New India Assurance’s initial public offering (IPO) last week, the government’s divestment kitty has swelled to Rs 37,866 crore, 52 per cent of the targeted Rs 72,500 crore for the current financial year. 

 

IPOs have accounted for the bulk of the disinvestment proceeds this year. This is in contrast to two previous financial years, when the government had heavily relied on share buybacks. READ MORE

11:49 AM

Govt to give 60% stake in ONGC fields to private firms

 

Nearly 25 years after ONGC's prime discovered oilfields were privatised, the oil ministry has identified 11 more producing oil and gas fields of the state-run firm for handing over to private firms to raise output.

 

The ministry is approaching the Cabinet to allow private companies take 60 per cent stake in producing oil and gas fields of national oil companies, ONGC and OIL, with the view that they would raise production above the baseline estimate.

11:30 AM

Mahindra & Mahindra up 3% as board mulls bonus issue

 

Mahindra & Mahindra (M&M) was up 3% at Rs 1,373 on the BSE in an otherwise range-bound market as the company said that its board will consider bonus issue in their forthcoming meeting on Friday, November 10, 2017 after a gap of 12 years.

 

Earlier, in August 2005, M&M had issued bonus shares in the ratio of 1:1 i.e. 1 (one) bonus equity share for every 1(one) existing equity share held by the shareholders as on the "Record date". 

11:15 AM

FPIs turn net buyers in October, invest over Rs 3,000 cr in equities

 

After two months of intense selling, foreign investors turned net buyers in October to invest over Rs 3,000 crore in stocks, enthused by the government's Rs 2.11 lakh crore bank recapitalisation plan.

 

The latest inflow followed a net pullout of Rs 24,000 crore from stock markets in the past two months (August and September). Prior to that, FPIs had invested over Rs 59,000 crore in equities between February and July.

 

According to depository data, foreign portfolio investors (FPIs) infused a net sum of Rs 3,055 crore in equities last month. READ MORE

11:02 AM

Market Check at 11 am

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,690.15	+4.59	+0.01
S&P BSE SENSEX 50	10,875.96	+12.09	+0.11
S&P BSE SENSEX Next 50	36,330.02	+65.06	+0.18
S&P BSE 100	10,916.56	+13.18	+0.12
S&P BSE Bharat 22 Index	3,829.66	+1.35	+0.04

10:52 AM

Reliance Nippon Life lists at 17% premium against issue price

 

Reliance Nippon Life Asset Management (RNLAM) made a strong debut on the bourses by listing at a 17% premium against its issue price of Rs 252 on the National Stock Exchange (NSE). The stock listed at Rs 294 on the BSE (the Bombay Stock Exchange).

 

The company's Rs 1,540 crore initial public offer (IPO) got a strong demand in all the three investor categories. The IPO was oversubscribed 81.54 times at the close of the bidding, with bids for 3,493 million shares, worth Rs 88,023 crore, data available with the stock exchanges showed. READ MORE

10:36 AM

Jewellery stocks surge; Titan zooms 25% intra-day on strong Q2 earnings

 

Shares of jewellery companies have rallied up to 25% on the BSE in early morning trade after the Titan Company reported a strong set of numbers for the quarter ended September 2017 (Q2FY18).

 

Titan Company zoomed 25% to Rs 823 in intra-day trade, after the company’s consolidated net profit uincreased 71% at Rs 305 crore in Q2FY18, driven by jewellery business. It had reported profit of Rs 178 crore in corresponding quarter last fiscal. READ MORE

10:15 AM

HDFC Standard Life Insurance IPO: Good, but an expensive franchisee

 

After fuelling the valuations game in the life insurance space about a year back, HDFC Standard Life Insurance Company (HDFC Life) is all geared to go public on Tuesday.  At the upper end of the price band of Rs 275 –290 apiece, the firm’s equity valuation (market capitalisation) is pegged at Rs 55,248 –58,261 crore.

Considering that the private sector market leader ICICI Prudential Life (I-Pru Life) commands an equity valuation of Rs 55,700 crore, HDFC Life’s seem to be on the higher side.  READ MORE

9:51 AM

India Inc raises over Rs 36,000 cr via QIP in Apr-Sept

 

Indian firms mobilised over Rs 36,000 crore through issuance of shares to institutional investors during April-September period of the current fiscal, a 13-fold rise from the year-ago period.

 

As per the latest data available with the Securities and Exchange Board of India (Sebi), capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 36,653 crore in the first six months of 2017-18.

 

In comparison, firms had mopped-up Rs 2,818 crore in April-September period of 2016-17. READ MORE

9:41 AM

IPOs raise Rs 57,000-cr funds in FY18; promoters, PEs corner lion's share

 

Indian companies have raised a record amount of nearly Rs 57,000 crore through initial public offerings so far this year, but more than Rs 45,000 crore have gone to promoters and other existing shareholders leaving only 20 per cent funds for the firms' growth and expansion plans.

 

Out of the total IPO funds raised by 31 companies so far in 2017, nearly 80 per cent (Rs 45,755 crore) has gone to existing shareholders. This has left Rs 11,115 crore for the companies in the form of fresh capital, according to an analysis of the IPO data available with stock exchanges. READ MORE

9:32 AM

Interview of the day

 

Corporate profits, markets can double in next 4-5 years: Prateek Agrawal

 

Even as markets are hitting new highs, Prateek Agrawal, business head and chief investment officer at ASK Investment Managers, tells that valuations are still at fair levels, and there could be further gains, aided by a revival in earnings growth. READ FULL INTERVIEW

9:22 AM

Sectoral Trend

Source: NSE

9:20 AM

Top Sensex Gainers and Losers

Source: BSE