MARKET WRAP: Sensex rises 151 pts as PSU banks shine; YES Bank slips 6%

Among the sectoral indices, the Nifty PSU Bank index rose 1 per cent led by Indian Bank, State Bank of India (SBI) and Vijaya Bank. The Nifty Auto index, too, rose nearly 1 per cent led by Maruti

11:11 AM

No early exit for banks under PCA till FY20 despite fresh capital: Icra

The 11 public sector banks (PSBs) under the prompt corrective action (PCA) framework are unlikely to get an exit before FY20, despite the government’s capital infusion plans, ratings agency Icra has said. READ MORE

11:01 AM

Top gainers in BSE 500:

COMPANY	PRICE()	CHG()	CHG(%)	VOLUME
UJJIVAN FIN.SER.	250.10	22.75	10.01	337104
INDIABULLS HOUS.	801.10	67.40	9.19	577152
AVANTI FEEDS	378.95	30.40	8.72	79927
CAN FIN HOMES	274.05	20.00	7.87	147267
REPCO HOME FIN	355.60	25.20	7.63	164724

10:51 AM

NEWS ALERT | Suzlon Energy secures 50.4 MW order from Atria Power; stock up nearly 2%

10:43 AM

As many as 10 stocks hit 52-week high in today's trade

Symbol	Security	New 52W/H	Prev. High	Prev. High Date	LTP	Prev. Close	Chng	% Chng
AAVAS	Aavas Financiers Limited	818.00	815.30	12-Dec-2018	812.40	805.55	6.85	0.85
CGCL	Capri Global Capital Limited	140.00	139.00	12-Dec-2018	138.50	134.85	3.65	2.71
COLPAL	Colgate Palmolive (India) Limited	1,313.85	1,283.00	03-Dec-2018	1,307.65	1272.95	34.70	2.73
HINDUNILVR	Hindustan Unilever Limited	1,859.90	1,854.80	05-Dec-2018	1,850.80	1839.10	11.70	0.64
LIQUIDETF	DSP LIQUID ETF	1,000.01	1,000.01	12-Dec-2018	999.99	1000.00	-0.01	-0.00
NRBBEARING	NRB Bearing Limited	215.00	214.50	12-Dec-2018	211.70	208.80	2.90	1.39

(Source: www.nseindia.com)

10:38 AM

Govt planning IPOs for two rail PSUs by March-end to meet divestment target

 

The government is planning initial public offerings (IPOs) of equity for two railway subsidiaries, Indian Railway Finance Corporation (IRFC) and Rail Vikas Nigam (RVNL), this financial year, in an effort to meet its disinvestment target of Rs 800 billion for 2018-19. READ MORE

10:20 AM

Retail inflation: The fall is more cyclical than structural, says Anand Rathi Financial Services

 

Retail inflation in Nov'18 came lower than anticipated. The drop stemmed from the food and fuel category. While food is in deflation, fuel and light too has been softening since the past couple of months. We think, however, that this is more cyclical, less structural: the softening is primarily due to seasonality. The RBI's change in stance from neutral to calibrated tightening clearly hinted that a rate cut is off the table, indicating that it too is in a wait-and-watch mode. Moreover, with industrial growth surging in Oct'18, data reveal mixed trends. Whether or not the stance reverts to neutral or the inflation target revised depends on how data pans out over the next couple of months.

10:12 AM

Religare Broking on Indraprastha Gas

 

IGL operates in a near monopolistic market with high entry barriers where CGD players enjoy market exclusivity for certain number of years. Low penetration of CNG/PNG provides significant expansion opportunity for IGL in its existing areas. Further, government’s focus on CNG/PNG, network expansion as well as economic benefits of CNG/PNG will lead to sales and PAT CAGR of nearly 20 per cent and nearly 18 per cent respectively (FY18-21E). IGL’s subsidiaries catering to under penetrated but promising areas will also aid profits. The company’s ability to pass on increase in gas cost, low working capital and leveraging of existing infrastructure will support future growth. We recommend Buy with a target price of Rs 315.

10:08 AM

Market check 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,031.00	+251.93	+0.70
S&P BSE SENSEX 50	11,318.05	+86.02	+0.77
S&P BSE SENSEX Next 50	32,483.36	+402.33	+1.25
S&P BSE 100	11,093.65	+92.29	+0.84
S&P BSE Bharat 22 Index	3,396.95	+25.81	+0.77

9:50 AM

FII trends (equity segment)

DATE	BUY VALUE ( CR)	SALE VALUE ( CR)	NET VALUE ( CR)
11-DEC-2018	3757.00	6653.66	-2896.66
10-DEC-2018	5963.87	4169.29	1794.58
07-DEC-2018	9198.34	4453.17	4745.17
06-DEC-2018	5395.85	5449.24	-53.39
05-DEC-2018	5065.84	5426.67	-360.83

CLICK HERE FOR MORE

9:47 AM

WHAT'S MOVING THE SENSEX TODAY?

COMPANY	LATEST	CHG(RS)	CHG(%)	FREE FLOAT MKT CAP (RS CR)	CONTRIBUTION (POINTS)
HDFC BANK	2104.90	19.55	0.94	447852.90	36.92
ITC	277.85	2.20	0.80	337536.18	23.70
ST BK OF INDIA	292.25	7.00	2.45	106921.17	23.09
RELIANCE INDS.	1116.00	5.50	0.50	380104.43	16.56
INFOSYS	683.55	4.85	0.71	257952.29	16.22

9:47 AM

Coal India: Volume increase key for earnings upside amid falling prices

 

Since its highs a month-and-a-half ago, Coal India has been trending weak, hitting its 52-week lows recently. The current infirmity in the stock follows the government’s decision to offload 2.21 per cent stake in the company. READ MORE

9:46 AM

5 reasons to buy Exide Industries Ltd (EIL)

 

Exide Industries Limited (EIL) is a leader in storage battery business with a market share of 60% in India. Its segment includes automotive and industrial lead acid batteries. 

 

·         EIL is focussing on cost control initiatives and technological upgradation as strategies to improve bottom line. 

 

·         Newer cost effective brands like Boss/Dynex at competitive price are expected to support market share gain from the unorganized players. 

 

·         We expect the margin to show some resilience from Q3FY19 onwards due to softening lead price. 

 

·         Revenue for the Q2FY19 grew by 15.3%YoY led by healthy volume growth across segments in automobile, Inverter and Industrial batteries. 

 

·         At CMP we value EIL at 20x (3yr historical average) on FY20EPS and Insurance business at 2xEV (Embedded value) at Rs51 and revised our target price to Rs276 and upgrade our rating to Accumulate form Hold. 

 

(Source: Geojit Financial Services report)

9:43 AM

Currency strategy (Image source: ICICI Securities report)

9:42 AM

Edelweiss on Ambuja Cement

With an eye on growth, Ambuja Cement (ACEM) has revised up its capex plan to Rs 23.5bn from INR13.9bn (estimated earlier). In the revised plan, the company has planned an additional clinker capacity of 1.4mtpa (taking total capacity to 3.1mtpa), 1.8mtpa cement unit with a captive power plant (CPP) and a waste heat recovery system (WHRS).

Its subsidiary ACC too has announced capex—clinker by 3mtpa and cement by 5.9mtpa over three years—reflecting LafargeHolcim’s recent capital commitment for expansions in India. The capex announcement is positive for ACEM as it imparts strong volume visibility and will be funded via internal accruals (given strong balance sheet). While ACEM will benefit from the expected industry uptrend (imminent rise in industry’s clinker utilisation), the CMP factors most of these benefits on CY19 estimates. Hence, maintain ‘HOLD’.

9:41 AM

ICICI Securities on PTC India

We maintain our BUY rating on PTC India with a revised SoTP-based target price of Rs137/share. We believe the stock, currently trading at FY20E standalone P/BV of 0.7x, offers significant upside (~65%, including dividend yield). Key downside risks: i) contractual obligations, if any, as the PPA quantum is higher than for PSAs, ii) delay in realisation of dues from SEBs, and iii) deployment of cash in long-gestation / low- RoE projects.