MARKET WRAP: Sensex ends 142 pts up, Nifty settles at 10,790; metals shine

All that happened in the markets on Thursday

3:35 PM

Sectoral gainers and losers of the day on NSE

3:34 PM

Gainers and losers of the day on S&P BSE Sensex

3:33 PM

Market at close

The S&P BSE Sensex ended at 35,898, up 142 points or 0.4 per cent, while the broader Nifty50 index settled at 10,790, up 54 points or 0.5 per cent.

3:19 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
SUZLON ENERGY	4.52	0.87	23.84	6627867
RELIANCE NIP.LIF	187.05	31.15	19.98	289377
CORPORATION BANK	29.65	4.15	16.27	646243
S H KELKAR & CO.	161.00	22.35	16.12	19844
JP ASSOCIATES	5.93	0.74	14.26	4702263

2:59 PM

Barclays income boost cheers investors, makes Brexit provision

Barclays reported a lower than forecast attributable profit of 3.5 billion pounds ($4.56 billion) for 2018, as it set aside cash to cushion against Brexit losses and its trading business weathered a difficult fourth quarter.

 

Barclays did show signs of progress in its under-pressure investment bank, where profit for the full year increased 15 percent to 2.6 billion pounds as its equities trading unit saw income rise 25 percent. READ MORE

2:44 PM

Karvy Stock Broking on KNR Constructions

Recommendation: BUY

CMP: Rs 203

Target Price: Rs 260

 

KNR Construction is trading at 11.6x to FY20E standalone EPS. Considering the order book and execution rates, we value the EPC business at 12x to its FY20E EPS to arrive at the value of Rs. 209 per share. We also value the BOT assets at 1x BV & HAM opportunity at 1x BV of the equity investment and arriving at a value of Rs. 260.

2:28 PM

Reliance Capital offers to sell stake in asset management JV to Nippon Life

Anil Ambani-led Reliance Capital (RCap) on Thursday said it has invited Nippon Life Insurance to acquire up to 42.88 per cent, which is its entire stake, in Reliance Nippon Life Asset Management Ltd (RNAM). Japan's Nippon Life Insurance Co. Ltd. already holds 42.88 per cent stake in RNAM. "Reliance Capital Ltd has invited its partner, Nippon Life Insurance Co Ltd to make an offer to acquire up to 42.88 per cent stake held by Reliance Capital in Reliance Nippon Life Asset Management Ltd," Reliance Capital said in a regulatory filing. READ MORE

2:09 PM

First-time investors should tweak their portfolio, reassess stocks

Sharook Sayeed, 26, a final-year MBA student at Christ University, opened an account with Zerodha last September. His fledgling portfolio holds six stocks. Currently, only two of them are trading above his purchase price, while the rest are all in the negative zone. Some have even hit 52-week lows. Faced with his first equity-market downturn, Sayeed is worried but says he will weather it by holding on to his portfolio for the long term. According to data from the Securities and Exchange Board of India (Sebi), 40 lakh demat accounts were opened in 2018, the highest in a decade. READ MORE

1:58 PM

MARKET CHECK

1:45 PM

NEWS ALERT | Som Distelleries' board to consider conversion of warrants into equity shares at Rs 271.55 per share on March 2

1:42 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
CORPORATION BANK	29.20	3.70	14.51	452233
RELIANCE NIP.LIF	172.80	16.90	10.84	160257
TEJAS NETWORKS	167.05	14.85	9.76	89336
SUZLON ENERGY	3.97	0.32	8.77	2240882
RELIANCE CAPITAL	157.00	11.95	8.24	2224967

1:23 PM

Web Exclusive | CG Power, Kwality: Promoters pledge 100% holding in December quarter

CG Power and Industrial, Kwality, Reliance Naval and Engineering, IL&FS Transportation Networks and Sterlite Technologies are the five companies from the BSE-500 index, whose promoters have pledged over 95 per cent of their holdings in the December quarter of financial year 2018-19 (Q3FY19), suggests a recent report by Kotak Securities. Among them, promoters of CG Power and Industrial, Kwality and Reliance Naval pledged 100 per cent of their holdings, the report says. READ MORE
 

1:01 PM

ADAG stocks in focus; Reliance Nippon, Reliance Capital up over 5%

Shares of Anil Dhirubhai Ambani Group (ADAG) companies have moved higher by 16 per cent in intra-day trade on Thursday, erasing most of their Wednesday’s losses on the BSE. The rally comes on the back of a Reliance Communications (RCom) statement where the company said that it is confident of paying entire Rs 550 crore and interest thereon with four weeks as directed by the Supreme Court (SC). READ MORE

12:57 PM

RCom asks lenders to allow release of Rs 260 crore directly to Ericsson

Reliance Communications (RCom) said on Thursday it has urged its lenders to allow release of Rs 260 crore ($36.55 million) directly to telecom equipment maker Ericsson. RCom said it had received the sum as income tax refunds and is lying in its bank account. READ MORE

12:51 PM

Karvy Stock Broking on H.G. Infra Engineering

Recommendation: BUY

CMP: Rs 174

Target Price: Rs 240

 

HG Infra is trading at 6.8x PE to its FY20E EPS. In view of the robust order book outstanding coupled with its execution capabilities, we are of the positive view about the company’s future performance. However, excessive order book concentration & dependence on subcontracting remains key things to watch for. We assign a conservative 9x to its FY20E EPS (25% discount to peer average) for its core operations. We factor the HAM investments in Haryana at 1xBV and arrive at a SoTP based target price of Rs. 240 with a “BUY” rating.