F&O expiry: Sensex slips 38 pts at 35,867, Nifty at 10,792; IT stocks drag

All that happened in the markets today

1:19 PM

A2Z Infra hits 5-month high; stock surges 66% in three weeks

Shares of A2Z Infra Engineering locked in upper circuit of 5 per cent at Rs 16.83 apiece on the BSE, hitting a five-month high, on improved quarterly financial results and settlement of dues with the State Bank of India (SBI). The stock was trading at its highest level since September 25, 2018. In the past three weeks, it has zoomed 66 per cent from Rs 10.14 after the company reported strong operational performance in the December quarter (Q3FY19). In comparison, the S&P BSE Sensex was down 2 per cent during the same period. READ MORE

1:12 PM

US Pres Donald Trump says

1:11 PM

Global indices

INDEX	DATE	LATEST	PREV CLOSE	CHG(PTS)	CHG(%)
HANG SENG	27-02-2019	28757.44	28772.06	-14.62	-0.05
TAIWAN WEIGHTED	27-02-2019	10389.17	10391.55	-2.38	-0.02
KOSPI	27-02-2019	2234.79	2226.60	8.19	0.37
ALL ORDINARIES	27-02-2019	6233.59	6209.04	24.55	0.40
SHANGHAI COMPOSITE	27-02-2019	2953.82	2941.51	12.31	0.42

1:11 PM

Trump says hopefully India, Pakistan conflict coming to an end

US President Donald Trump said on Thursday he hoped the conflict between India and Pakistan will be coming to an end, after the two nuclear powers clashed across a contested border in the disputed Kashmir region. Speaking at a news conference in Vietnam after a second summit with North Korean leader Kim Jong Un, Trump said he had some “reasonably decent” news from India and Pakistan. He did not elaborate.

- Reuters

1:05 PM

Trump, Kim summit in Vietnam ends without any agreement: White House

A summit between North Korea's Kim Jong Un and US President Donald Trump ended without agreement, the White House said Thursday after the two-day meeting. "No agreement was reached at this time, but their respective teams look forward to meeting in the future," White House press secretary Sarah Sanders said in a statement. READ MORE

12:57 PM

Nifty IT index is trading over 0.5% lower

12:53 PM

Airtel, Vodafone-Idea fibre JV a business opportunity for PE funds

Bharti Airtel’s decision to partner Vodafone Idea has come as a business opportunity for private equity funds keen on investing in the optical fibre space for leasing assets to earn rentals in return. The optical fibre synergies will be on the lines of the tower business where the two companies will hive off the fibre assets to a third company, which will in turn lease them out. READ MORE

12:42 PM

NSE to launch crude oil contract

National Stock Exchange of India Ltd (NSE) will launch its inaugural crude oil contract on 1st March, and has signed an agreement with ICIS, a leading global market information provider for the energy and petrochemical markets, to license its BFOE (Brent-Forties-Oseberg-Ekofisk) market data.

 

NSE has worked closely with ICIS to design a robust system that brings international best practice to help customers in India to access global crude markets. As part of the daily compilation of the index, NSE is licensing ICIS BFOE assessment data, which is produced five times a day in accordance with established ICIS methodologies.

12:40 PM

Small-cap gainers (BSE)

COMPANY	LATEST	CHG(RS)	CHG(%)	FREE FLOAT MKT CAP (RS CR)
OLECTRA GREENTEC	227.20	23.75	11.67	731.67
VASCON ENGINEERS	15.90	1.55	10.80	186.94
GUJ PIPAVAV PORT	82.35	5.90	7.72	2269.24
QUICK HEAL	217.60	15.55	7.70	429.85
BENGAL & ASSAM	1465.00	104.00	7.64	317.90

12:37 PM

Anand Rathi Research on Voltas

During the quarter, Voltas expanded itsbrand shops in cities like Ranchi, West Bokaro, Faridabad and Jamshedpur. Thebrand shops will house all the latest consumer durable products including ACs,air coolers, commercial refrigeration products from brand Voltas as well aswhite goods like refrigerators, washing machines, microwaves/ovens anddishwashers from brand Voltas Beko. 

 

The Voltbek JV has launched a basket ofproducts in the second quarter including 44 SKUs of refrigerators, 40 SKUs ofwashing machines, 12 SKUs of microwaves/ovens and 7 SKUs of dishwashers. Thelaunch was supported by a strong product and marketing campaign. The civilworks have already begun in the Sanand factory. The products are expected to berolled out from end CY19. 

 

With an investment of Rs.500 crore, thecompany will start construction of its new manufacturing facility in Tirupati.This facility will initially manufacture and assemble air conditioners andrelated cooling products. Continuing its thrust on research and development,Voltas aims to create technologically advanced products that are expected tostart being rolled out from H2FY20. 

 

We continue to remain positive on the company over medium tolonger term perspective and maintain our “BUY” with target priceof Rs.680 per share

 

12:37 PM

Heatmap: S&P BSE Sensex

12:36 PM

Anand Rathi Research on Oberoi Realty

The company has planned two mixed-usedevelopments at Borivali (Gross Leasable Area: 1.73 msf) and Worli (GrossLeasable Area: 1.70 msf). On this front, it has already incurred a capex of Rs.40-50 crore. At Borivali, it shall develop 1.2 msf mall, 0.3-0.4 msf hotel andremainder office space. In contrast, at Worli, it will develop 0.9-1.0 msfmall, 80-90 room hotel while rest would be for office space. These assets,which would be developed at an expenditure of Rs.800 crore each, are expectedto be operational in the next four to five years

Overall, with strong launches planned inFY20E and Borivali project expected to drive sales momentum, we continue to remainpositive on the company over medium to longer term perspective and maintain our “BUY” with a revised target price of Rs.539 per share

12:35 PM

Top gainers (BSE 500)

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
GUJ PIPAVAV PORT	82.30	5.85	7.65	112071
LINDE INDIA	500.80	35.05	7.53	61082
REDINGTON INDIA	88.70	5.65	6.80	42351
SECURITY & INTEL	805.00	48.40	6.40	1176
SADBHAV ENGG.	186.45	10.90	6.21	13200

12:15 PM

NEWS ALERT | No agreement was reached between Trump and Kim, says White House: Reuters

12:10 PM

Reliance Securities on GAIL

We arrived at SOTP-based Target Price of Rs 382 (US$32.7 for GDRs) valuing core business at Rs 312 and the market value of investment at Rs 54/share (30% discount to CMP) and adding net cash of Rs17/share. We valued GAIL’s segments using DCF, implied EV/EBITDA multiple to its gas transmission / LPG transmission / gas trading /Petrochemical /LPG & OLHC segments are 6.1x/5.9x/4.7x/7.5x/6.9x. GAIL trades at 6.4x on FY20E EBITDA, which is discount to its

long-term average of 8.4 x(Last 5 years). We expect GAIL to witness a strong FCF generation of Rs 80 bn over FY19-FY21. As the stock provides high earnings visibility and healthy RoE /ROCE of 13%/9% over 3 years.