MARKET WRAP: Indices end a tad higher ahead of RIL, HUL Q3 results

Shares of Reliance Industries (RIL) ended flat at Rs 1,134 apiece on the BSE ahead of the December quarter (Q3FY19) result today. Fast-moving consumer goods (FMCG) major HUL fell 1.12 per cent.

10:05 AM

Sharekhan on HUL

The brokerage believes HUL’s growth prospects would improve with the recent acquisition of GSK Consumer in view to enhance its presence in the health food drink (HFD) category.

 

For December quarter, the brokerage expects the revenue growth of nearly 12 per cent which will largely be driven by 7-9 per cent volume growth. Palm oil prices are down by nearly 14 per cent, which would help the operating margin to improve by 92 bps YoY to 20.5 per cent. Operating profit to grow by 17 per cent YoY and the adjusted PAT to grow by 17.1 per cent YoY.

10:04 AM

Edelweiss Securities on HUL

 

We anticipate revenue, Ebitda and PAT to grow nearly 9 per cent, 18 per cent and 4 per cent, respectively, on a year-on-year basis. HUL is expected to record nearly 6-7 per cent YoY volume growth on a high base of 11 per cent YoY growth (Q2FY19 saw volume growth of 10 per cent on a base of 4 per cent). So three years’ average volume growth trajectory of earlier quarters is likely to be maintained. We expect rural demand to grow at 1.2x of urban, but no acceleration from previous quarter. Performance of Lever Ayush and oral care will be monitorable. Effective PAT is subdued owing to tax rate of 30 per cent for the quarter compared to nearly 21 per cent in the base quarter.

10:01 AM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,408.49	+87.20	+0.24
S&P BSE SENSEX 50	11,418.57	+26.16	+0.23
S&P BSE SENSEX Next 50	32,846.89	+115.60	+0.35
S&P BSE 100	11,196.91	+27.62	+0.25
S&P BSE Bharat 22 Index	3,470.63	+8.51	+0.25

9:51 AM

Nifty FMCG index is trading 0.2 per cent lower weighed by HUL ahead of its December result

9:43 AM

Maximum wealth can be created by owning midcaps in long term: Motilal Oswal

Maximum wealth can be created by owning midcaps and staying invested for at least five years, says Aashish Somaiyaa, managing director and chief executive officer of Motilal Oswal AMC. In an interview with Ashley Coutinho, he says that while categorisation of schemes is a step in the right direction, the market cap definition could have been a bit more liberal. Read more

Aashish Somaiyaa, managing director and chief executive officer of Motilal Oswal AMC

 

9:27 AM

Jet Airways slips around 3.5% in early trade

9:23 AM

HUL slips in early trade ahead of December quarter results

9:21 AM

RIL gains in early trade ahead of Q3 results

9:19 AM

Sectoral trend on NSE

9:18 AM

Opening gainers and losers on S&P BSE Sensex

9:16 AM

Market at open

 

At 9:15 AM, the S&P BSE Sensex was trading at 36,450, up 128 points, while the broader Nifty50 was ruling at 10,925, up 34 points.

 

9:03 AM

Market at pre-open

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,467.68	+146.39	+0.40
S&P BSE SENSEX 50	11,430.12	+37.71	+0.33
S&P BSE SENSEX Next 50	32,747.39	+16.10	+0.05
S&P BSE 100	11,201.81	+32.52	+0.29
S&P BSE Bharat 22 Index	3,471.35	+9.23	+0.27

9:01 AM

Rupee opening

Rupee opens at 71.15/$ vs its previous close of 71.24 against the US dollar 

8:59 AM

Today's picks

Wipro 

Current price: Rs 336

Target price: Rs 342

Keep a stop at 332 and go long. Add to the position between 339-341. Book profits at 342.

 

Bharti Airtel 

Current price: Rs 334

Target price: Rs 328

Keep a stop at 337 and go short. Add to the position between 329-330. Book profits at 328. Click here to read more

8:52 AM

Stock Calls by Tradebulls Securities: Buy ICICI Bank, Piramal Enterprises

Stock: ICICIBANK

Reco.: BUY

CMP: 377

 

Stock witnessed correction on back of profit booking after attaining new life highs of 383 on 9th Jan 2019. Stock found support at earlier life highs around 370 levels and is recovering back on the upside. Weekly oscillators display no signs of exhaustion since the start of current impulse wave from lows of 348 levels on 26th Dec 2018. On 15-minute time scale stock has broken above a downward channel with support placed at 375 levels. The secular bull trend continues for the stock with a target range of 392 & 396 in coming weeks. Hence investors could initiate long positions in the stock with a stop placed below 366 for 396 in coming weeks. READ MORE