Nifty ends at record high on negative market breadth, Sensex up 250 points

All that happened in Friday's trade

12:53 PM

Sectoral trend in noon deals 

Source: NSE

12:45 PM

Brokerage views on Bharti Airtel - Tata Tele deal

 

Analysts say the development is positive for both players as it not only provides an easy exit to Tata's from the loss making telecom venture, Bharti Airtel too will gain subscribers in the process. READ FULL REPORT

12:33 PM

HDFC Securities on IndusInd Bank

 

IIB has been a master in execution across planning cycles, despite weak macros. We derive confidence from the mgt’s ability to beat ambitious targets consistently across parameters. The bank is making all the right moves on either side of the B/S, to deliver best-in -class return ratios (1.8% over FY18-20E) for the foreseeable future.

 

The Q2 numbers further vindicate our positive stance, given healthy all-round credit growth (+24%), robust fee growth (+23%), stable NIMs and controlled asset quality (stable G/NNPA QoQ). An exposure of merely ~Rs 3.9bn to a/cs in RBI’s second list, and conservative provisioning (65%) for the same provide additional comfort.

 

Near-term outlook: Healthy growth, steady NIM, and immaculate asset quality is expected to keep the stock buoyant. Merger details will be keenly watched.

12:17 PM

IPO watch: GIC Re

GIC subscription updates at12 noon on day 3: Subscribed: Overall 0.94x, Retail 0.27x, QIB 1.68x, NII 0.03x and Employee 0.60x

12:16 PM

Markets check

At 12:15 pm, the S&P BSE Sensex was trading at 32,409, up 227 points, while the broader Nifty50 was ruling at 10,160, up 63 points. 

11:56 AM

HDFC Securities on Bharti Airtel

 

Bharti  Airtel  is  set to acquire the wireless business of the Tata Group. Though  the transaction is not significant from the financial point of view for Airtel, it bolsters its leadership position through acquisition of customers,  spectrum & fiber and provides additional muscle to combat competition from  Reliance Jio. We foresee the acquisition to be earnings accretive post  integration besides improving its subscriber and revenue market share by 300-400 bps, narrowing the gap with Vodafone-Idea combined. We view the acquisition as positive.

11:48 AM

PSBs recover from intraday lows

 

Shares of public sector banks (PSBs) erased their intra-day losses and recovered up to 5% in late morning deals on the National Stock Exchange (NSE).

 

Bank of India, Indian Overseas Bank, Central Bank of India, Bank of Baroda, Oriental Bank of Commerce and Punjab National Bank recovered in the range of 2% to 5% from their respective intraday lows. READ MORE

 

11:32 AM

Risk of combined (centre and states) fiscal deficit (FD) widening in FY18 

 

We see the risk of combined FD widening to 6.7% of GDP in FY18, from 6.5% of GDP in FY17. This compares with government’s budget estimate of 5.8% for FY18. We believe the central government will likely breach the FY18 FD target of 3.2% of GDP by ~0.5% of GDP on lower revenues collections (excise duty cuts, lower telecom collections, lower RBI dividend transfer etc) and higher expenditure (front loading of spending and possible stimulus to boost domestic demand). State governments are also trying to fund additional spending needs (including farm loan waivers, higher wages and salaries under the 7th pay commission awards, etc.), which are likely to put further pressure on their already stretched finances.

 

(Source: UBS report)

11:30 AM

SIP inflows grow 50% in one year

 

Inflow into mutual funds (MFs) through systematic investment plans (SIPs) has hit another historic high in September. The sector collected Rs 5,516 crore during the month as the number of SIP accounts touched 16.6 million, compared with 13.5 million at the beginning of this financial year. READ DETAILED REPORT

11:06 AM

Nifty nears record high: Top five stocks boosting the rally

Source: NSE

10:52 AM

TCS turns flat after gaining over 2%

 

Tata Consultancy Services, country’s largest software services firm, gained over 2% to Rs 2,605 in intraday trade on Friday after the company reported 2.16% year-on-year drop in net profit at Rs 6,446 crore, while revenue grew 4.3% to Rs 30,541 crore. READ MORE

 

10:37 AM

How Tata Tele-Bharti Airtel deal was done in 5 days

 

The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business. A collapsed deal was brought back to life in the last five days, people close to the transaction said. READ FULL REPORT

10:34 AM

Merger to give Airtel more subscribers, Tata Tele an easy exit: Analysts

 

Analysts have given a thumbs-up to the Tata Teleservices – Bharti Airtel deal, as they feel the move provides an exit route to the already bleeding Tata-owned company. As on March 31, 2017, the combined debt of Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) stood at Rs 34,089 crore, excluding deferred payment liabilities to the government for spectrum, according to a CRISIL report. READ FULL REPORT

10:13 AM

Top Sensex gainers and losers

Source: BSE

10:01 AM

Markets at 10am

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,359.66	+177.44	+0.55
S&P BSE SENSEX 50	10,541.45	+57.93	+0.55
S&P BSE SENSEX Next 50	34,725.99	+127.66	+0.37
S&P BSE 100	10,557.04	+54.99	+0.52
S&P BSE MidCap	16,000.24	+40.71	+0.26

(Source: BSE)