MARKET WRAP: Indices recoup losses; Sensex up 180 pts, Nifty ends at 10,730

The S&P BSE Sensex gained 180 points or 0.5 per cent to settle at 5,650 after witnessing a 700-point swing in the intraday-trade.

1:01 PM

NEWS ALERT Delegation of NBFCs and HFCs to meet Prime Minister Narendra Modi today, reports CNBC TV18

12:59 PM

How to play the market gap ups and gap downs

One of the common terms you must have in markets quite often is a gap up or a gap down. Gaps are the space between the open and the closing prices of two consecutive days and such gaps normally get filled. Hence it is an important indicator to the trader in identifying the trading opportunities on the stock. READ MORE

12:44 PM

We sense possibility of interest rates reversing: Mahindra MF's Rahul Pal

Debt markets have had to deal with an unusually high volatile period in 2018. Default by IL&FS came as a rude shock to investors parking funds in liquid and income schemes. The concerns over creditworthiness of issuers and rising interest rates had pushed debt schemes lower on investors’ radar. In an interaction with Jash Kriplani, Rahul Pal, head of fixed income at Mahindra Mutual Fund, offers his views on whether 2019 can bring some cheer to debt market investors. Click here to read full interview

12:30 PM

Total 52 securities hit 52-week low on NSE

12:27 PM

Reliance Securities on KPTL

RATING: Buy

Target Price: Rs 544

KPTL is a diversified EPC player involved in execution of power transmission and pipeline projects. It also undertakes buildings, roads and power plant construction projects through its subsidiary JMC Projects. KPTL’s standalone order book stood at Rs142 bn as of 2Q FY19 end; order inflow in H1 FY19 stood at Rs 47.4bn up 48% with L1 in excess of Rs 20 bn. Kalpataru Power Transmission (KPTL) has delivered a strong performance in 2QFY19 led by better-than-expected execution in Railway, Oil & Gas Pipeline and T&D business. At subsidiary level, JMC’s revenue continue to grow owing to improved project execution also Shree Shubham Logistics reported strong growth in revenue. Looking ahead, we expect KPTL to be one of the key beneficiaries of strong transmission capex in both domestic and global markets, which would drive 21% CAGR in earnings through FY18- 20E. We have valued SSL based on EV/EBITDA multiple of Rs8.0/share. We have BUY recommendation on the stock with a target price of Rs 544  

12:13 PM

Nagarjuna Fertilizers surges 18% as operations resume at Andhra plant

Shares of Nagarjuna Fertilizers and Chemicals rose as much as 18 per cent to Rs 9.78 on the BSE in morning trade on Wednesday as the company restarted production of urea from Unit I of Kakinada Plant, Andhra Pradesh on December 23, 2018. The fertiliser company is in the process of a long-term debt resolution with its lenders. Read more

12:00 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	35,215.78	-254.37	-0.72
S&P BSE SENSEX 50	11,087.37	-75.63	-0.68
S&P BSE SENSEX Next 50	32,189.44	-185.04	-0.57
S&P BSE 100	10,886.37	-72.61	-0.66
S&P BSE Bharat 22 Index	3,430.14	-3.65	-0.11

11:43 AM

Top gainers and losers on S&P BSE Sensex

11:35 AM

Stock Ideas for 2019 by Motilal Oswal Financial Services Ltd (MOFSL)

11:23 AM

NEWS ALERT | N Srinivasan appinted non-executive director of IL&FS

11:22 AM

NEWS ALERT | IL&FS appoints retired IAS, Bijay Kumar as Deputy MD

11:09 AM

Top losers on BSE500

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
SYMPHONY	1080.00	-70.75	-6.15	1996
TAKE SOLUTIONS	143.00	-7.75	-5.14	3882
INDIABULLS INTEG	364.70	-19.15	-4.99	21810
JM FINANCIAL	84.95	-4.30	-4.82	52360
GRAPHITE INDIA	717.70	-36.25	-4.81	107420

10:59 AM

HDFC Securities on Cipla

 

At present, the stock is trading at 23/17x FY20/21 P/E, at a nearly 20 per cent discount to its historical average. We see this as a good opportunity to accumulate, with Cipla generating US$ 150 mn+ FCFs (free cash flows) annually on the back of robust branded franchises in India and South Africa. It is also consistently receiving complex product approvals in the US, which are likely to drive the top line and make the US business profitable. Upgrade to BUY with a target price (TP) of Rs 605 (22x Dec-20E EPS).

 

10:57 AM

Jubilant FoodWorks extends fall; down 15% in three trading sessions

Shares of Jubilant FoodWorks, which operates the Domino’s franchise, dipped 5% to Rs 1,155 on Wednesday, extending its 10% fall in the past two trading days, on concerns of rising employee expenses and higher base and more intense competition from food aggregators. Last week, India’s largest online food-ordering service, Swiggy, raised a mammoth $1 billion in fresh funding led by South African internet and media conglomerate Naspers. Swiggy plans to use the capital to grow its supply chain, apart from investing in new initiatives such as setting up cloud kitchens. Read more

 

10:22 AM

Mid, Small-cap indices decline 1.50% each; Nagarjuna Fertilizers jumps 18%

Surpassing the benchmarks, the mid and small-cap stocks fell more sharply in the morning deals on Wednesady. The S&P BSE MidCap index was trading around one and a half per cent lower at 14,954, with Indian Hotels (up nearly 2 per cent) being the top gainer and 3M India (down 6 per cent) the worst laggard. Cholamandalam Investment and Finance, Gruh Finance, 3M India and RBL Bank were among the major contributors to the index's fall. Read more