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Share Market Highlights: Sensex ends at record high, Nifty at 14,644; Tata Motors, M&M, Wipro top gainers

January 20,2021 16:29 IST

Sensex, Nifty Highlights on January 20: Equity benchmark closed at new record highs on Wednesday, tracking positive trend from global equities, on hopes of fresh US stimulus measures. Rising for the second straight session, Sensex ended 393 points higher at 49,792 and Nifty gained by 123 points to 14,644. Sensex and Nifty today touched new lifetime highs of 49,874 and 14,666. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively. Yesterday, Sensex added 834 points to 49,398 and Nifty gained 239 points to 14,521. Meanwhile, December quarterly earnings announcements by Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, Federal Bank, Hindustan Zinc, Havells will also set the tone for the stock market today. Globally, markets hit new record highs today, reacting to comments from US Treasury Secretary nominee Janet Yellen, who called for a hefty fiscal relief package to help the economy hit by the COVID-19 crisis. Investors were also enthused with the US President-elect Joe Biden taking office today.

 

Here's a look at the LIVE updates of the market action on BSE and NSE today

 

 

 

 

Check Latest Updates

  • India Stock Market News Updates Today: Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, Federal Bank, Hindustan Zinc, Havells India, L&T Technology Services are among the top companies that will be reporting their Q3 earnings
  • Jan 21, 2021 09:28 (IST)

    Top gainers and losers

    Bajaj twins, HCL Tech, Titan, Tech Mahindra, RIL, Kotak Bank were among the top gainers on Sensex. On the flip side, Nestle, HDFC, TCS, HDFC Bank were the only losers today.

  • 09:28 IST: Bajaj twins, HCL Tech, Titan, Tech Mahindra, RIL, Kotak Bank were among the top gainers on Sensex. On the flip side, Nestle, HDFC, TCS, HDFC Bank were the only losers today.

  • Jan 20, 2021 15:59 (IST)

    Closing trading session Wednesday

    Equity benchmark closed at new record highs on Wednesday, tracking positive trend from global equities, on hopes of fresh US stimulus measures. Rising for the second straight session, Sensex ended 393 points higher at 49,792 and Nifty gained by 123 points to 14,644. Sensex and Nifty today touched new lifetime highs of 49,874 and 14,666.

  • 15:59 IST: Equity benchmark closed at new record highs on Wednesday, tracking positive trend from global equities, on hopes of fresh US stimulus measures. Rising for the second straight session, Sensex ended 393 points higher at 49,792 and Nifty gained by 123 points to 14,644. Sensex and Nifty today touched new lifetime highs of 49,874 and 14,666.

  • Jan 20, 2021 15:56 (IST)

    Nifty tech view

    Rohit Singre, Senior Technical Analyst at LKP Securities said,"One more positive session along with that index made fresh levels today and closed a day at 14645 with gains of nearly one per cent formed bullish candle for the second consecutive day. Now the good base is created is around 14560 followed 14500 zone holding above said levels index can show some more positive move towards 14700-14750 zone also any dip near 14500 zone will be again buying opportunity. In nifty bank strong hurdle is still at 32700 zone any decisive break above 32700 zone can quickly push the index to 33k zone"

  • 15:56 IST: Rohit Singre, Senior Technical Analyst at LKP Securities said,"One more positive session along with that index made fresh levels today and closed a day at 14645 with gains of nearly one per cent formed bullish candle for the second consecutive day. Now the good base is created is around 14560 followed 14500 zone holding above said levels index can show some more positive move towards 14700-14750 zone also any dip near 14500 zone will be again buying opportunity. In nifty bank strong hurdle is still at 32700 zone any decisive break above 32700 zone can quickly push the index to 33k zone"

  • Jan 20, 2021 15:35 (IST)

    ICICI Lombard Q3 outlook

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said," ICICI Lombard reported 6.3% YoY growth in net premium earned to Rs. 2,611.4 crore while investment income registered a growth of 31.4% YoY to Rs. 441.9 crore. Total income registered a growth of 9.29% growth YoY to Rs. 3058.9 crore. Operating profit for the quarter was down by 2.7% YoY to Rs. 312.1cr while net profit for the quarter was up 6.60% at Rs. 313.5 crore. The combined ratio for the quarter stood at 97.9% while return on average equity stood at 17.6% as compared to 20.3% in Q3FY20 Overall the company witnessed good traction in fire insurance, health and marine insurance while motor insurance was flat YoY."

     

  • 15:35 IST: Jyoti Roy - DVP- Equity Strategist, Angel Broking said," ICICI Lombard reported 6.3% YoY growth in net premium earned to Rs. 2,611.4 crore while investment income registered a growth of 31.4% YoY to Rs. 441.9 crore. Total income registered a growth of 9.29% growth YoY to Rs. 3058.9 crore. Operating profit for the quarter was down by 2.7% YoY to Rs. 312.1cr while net profit for the quarter was up 6.60% at Rs. 313.5 crore. The combined ratio for the quarter stood at 97.9% while return on average equity stood at 17.6% as compared to 20.3% in Q3FY20 Overall the company witnessed good traction in fire insurance, health and marine insurance while motor insurance was flat YoY."

     

  • Jan 20, 2021 15:30 (IST)

    L&T Infotech outlook



    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"L&T Infotech reported a 5.8% qoq growth in revenues to USD 427.8mn which was well ahead of our expectations. In rupee terms consolidated revenue increased by 5.1% qoq to Rs 3152.8 crore while gross profits increased by 5.5% qoq to Rs 1,102.1 crore. Gross margins expanded by ~20bps qoq to 35.0% due to sharp increase in utilization by 210bps qoq to 84.1%. Consolidated operating profit for the quarter was up by 6.7% qoq while margins were up by ~35bps qoq to 23.2%. Net profit for the quarter was up by 13.7% qoq to Rs 519.3 crore. During the quarter growth was driven by India which grew by 30.4% QoQ while RoW witnessed a degrowth of 4.2% QoQ. BFS, manufacturing and other verticals witnessed strong growth while Insurance, Energy & Utilities verticals reported sluggish growth. Overall the numbers were ahead of our expectations on all fronts. Post the Q3FY21 numbers we maintain our positive stance on L&T Infotech and expect strong earnings growth of 24.2% CAGR between FY20-23E, though valuations at 24.5xFY23 earnings are expensive."

  • 15:30 IST:

    Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"L&T Infotech reported a 5.8% qoq growth in revenues to USD 427.8mn which was well ahead of our expectations. In rupee terms consolidated revenue increased by 5.1% qoq to Rs 3152.8 crore while gross profits increased by 5.5% qoq to Rs 1,102.1 crore. Gross margins expanded by ~20bps qoq to 35.0% due to sharp increase in utilization by 210bps qoq to 84.1%. Consolidated operating profit for the quarter was up by 6.7% qoq while margins were up by ~35bps qoq to 23.2%. Net profit for the quarter was up by 13.7% qoq to Rs 519.3 crore. During the quarter growth was driven by India which grew by 30.4% QoQ while RoW witnessed a degrowth of 4.2% QoQ. BFS, manufacturing and other verticals witnessed strong growth while Insurance, Energy & Utilities verticals reported sluggish growth. Overall the numbers were ahead of our expectations on all fronts. Post the Q3FY21 numbers we maintain our positive stance on L&T Infotech and expect strong earnings growth of 24.2% CAGR between FY20-23E, though valuations at 24.5xFY23 earnings are expensive."

  • Jan 20, 2021 15:28 (IST)

    IRFC IPO Valuation



    CRISIL Research expects total housing loan outstanding to grow at a CAGR of 5% to 6% in Fiscal 2021 and at 8% to 9% CAGR to Rs 26.5tn over Fiscals 2020 and 2023. The market for affordable housing loans logged a CAGR of approximately 12% over Fiscals 2015 to 2020. By Fiscal 2023, CRISIL Research expects affordable housing outstanding credit to increase at approximately 9% to 10% CAGR to Rs 11.9tn. At higher price band (?518), the stock valued at 4.1 (x) 2QFY21 P/BVPS. Factoring the superlative return ratios, ROA/ROE of 11%/3%, we believe that Home First Finance Company is worth subscribing. Thus we recommend SUBSCRIBE.

  • 15:28 IST:

    CRISIL Research expects total housing loan outstanding to grow at a CAGR of 5% to 6% in Fiscal 2021 and at 8% to 9% CAGR to Rs 26.5tn over Fiscals 2020 and 2023. The market for affordable housing loans logged a CAGR of approximately 12% over Fiscals 2015 to 2020. By Fiscal 2023, CRISIL Research expects affordable housing outstanding credit to increase at approximately 9% to 10% CAGR to Rs 11.9tn. At higher price band (?518), the stock valued at 4.1 (x) 2QFY21 P/BVPS. Factoring the superlative return ratios, ROA/ROE of 11%/3%, we believe that Home First Finance Company is worth subscribing. Thus we recommend SUBSCRIBE.

  • Jan 20, 2021 15:26 (IST)

    Nifty tehcnical view

    Ashis Biswas, Head of Technical at CapitalVia Global Research said,"The market witnessed some strong trends and an attempt to overcome the resistance level around the Nifty 50 Index level of 14600. While sustaining above 14600 is the key factor from a short-term perspective, maintain above this level market to gain momentum and open the gate for a movement till 14800/14930. The momentum indicators like RSI, MACD to recover, and market breadth to improve, further strengthening the view of a short-term bullish outlook."

  • 15:26 IST: Ashis Biswas, Head of Technical at CapitalVia Global Research said,"The market witnessed some strong trends and an attempt to overcome the resistance level around the Nifty 50 Index level of 14600. While sustaining above 14600 is the key factor from a short-term perspective, maintain above this level market to gain momentum and open the gate for a movement till 14800/14930. The momentum indicators like RSI, MACD to recover, and market breadth to improve, further strengthening the view of a short-term bullish outlook."

  • Jan 20, 2021 15:26 (IST)

    Inidces near record highs

    Sensex and Nifty today touched new lifetime highs of 49,874 and 14,666

  • 15:26 IST: Sensex and Nifty today touched new lifetime highs of 49,874 and 14,666

  • Jan 20, 2021 14:50 (IST)

    Current market view

    Gaurav Garg, Head Research, CapitalVia Global Research Limited - Investment Advisor said," Market opened on a flatter note at 14538.30 following the mixed global cues and made a high of 14623.55 as market is expecting more stimulus from the government. Investors in Asian markets were poised for gains on Wednesday after Wall Street indexes rose on the back of U.S. Treasury Secretary nominee Janet Yellen’s push for a sizable fiscal relief package in response to the COVID-19 pandemic. Quarterly results of 36 companies are due for today which can result in higher volatility in second half, Bajaj Finance, Bajaj Finserv and HDFC Asset Management Company being in major focus. Foreign institutional investors (FIIs) continue the buying spree in the market and bought shares worth Rs 257.55 crore keeping the market outlook positive."


     

  • 14:50 IST: Gaurav Garg, Head Research, CapitalVia Global Research Limited - Investment Advisor said," Market opened on a flatter note at 14538.30 following the mixed global cues and made a high of 14623.55 as market is expecting more stimulus from the government. Investors in Asian markets were poised for gains on Wednesday after Wall Street indexes rose on the back of U.S. Treasury Secretary nominee Janet Yellen’s push for a sizable fiscal relief package in response to the COVID-19 pandemic. Quarterly results of 36 companies are due for today which can result in higher volatility in second half, Bajaj Finance, Bajaj Finserv and HDFC Asset Management Company being in major focus. Foreign institutional investors (FIIs) continue the buying spree in the market and bought shares worth Rs 257.55 crore keeping the market outlook positive."


     

  • Jan 20, 2021 14:36 (IST)

    Top gainers for today

    Globally, markets hit new record highs today, reacting to comments from US Treasury Secretary nominee Janet Yellen, who called for a hefty fiscal relief package to help the economy hit by the COVID-19 crisis.

    IT stocks also advanced in morning trade on hopes of fresh US stimulus measures, with HCL Tech, Tech Mahindra, TCS and Infosys rising around 1% each. Other index majors like ONGC, Reliance, Maruti, SBI, HDFC, M&M rose by 2% in the afternoon session.

  • 14:36 IST: Globally, markets hit new record highs today, reacting to comments from US Treasury Secretary nominee Janet Yellen, who called for a hefty fiscal relief package to help the economy hit by the COVID-19 crisis.

    IT stocks also advanced in morning trade on hopes of fresh US stimulus measures, with HCL Tech, Tech Mahindra, TCS and Infosys rising around 1% each. Other index majors like ONGC, Reliance, Maruti, SBI, HDFC, M&M rose by 2% in the afternoon session.

  • Jan 20, 2021 14:30 (IST)

    Sensex hits new high

    Rising for the second straight session, equity benchmark traded near record highs on Wednesday, tracking positive trend from global equities. Sensex was rising by 415 points to 49,815 and Nifty gained by 128 points to 14,650. Today, Sensex touched a new high of 49, 824.

  • 14:30 IST: Rising for the second straight session, equity benchmark traded near record highs on Wednesday, tracking positive trend from global equities. Sensex was rising by 415 points to 49,815 and Nifty gained by 128 points to 14,650. Today, Sensex touched a new high of 49, 824.

  • Jan 20, 2021 14:25 (IST)

    SBI Life stock outlook



    Reliance Research said in ite note today,"Over the past few months, the stock has been making higher tops and higher bottoms on weekly charts. Recently, the stock has witnessed minor pullback near to its short-term averages from the recent high. This gives an opportunity to add longs, as the stock is expected to scale all-time high over the next few weeks. In case of decline, the 200-day average (which is placed at Rs818) would act as reversal point (Stop Loss) on closing basis."

  • 14:25 IST:

    Reliance Research said in ite note today,"Over the past few months, the stock has been making higher tops and higher bottoms on weekly charts. Recently, the stock has witnessed minor pullback near to its short-term averages from the recent high. This gives an opportunity to add longs, as the stock is expected to scale all-time high over the next few weeks. In case of decline, the 200-day average (which is placed at Rs818) would act as reversal point (Stop Loss) on closing basis."

  • Jan 20, 2021 13:58 (IST)

    Global markets

    In Europe, Germany's DAX returned 0.1per cent, and France's CAC 40 slipped 0.1per cent. The FTSE 100 in London dipped 0.1per cent.

    In Asian markets, Hong Kong's Hang Seng gained rose 2.7per cent, the Nikkei 225 in Tokyo gained 1.4per cent and South Korea's Kospi jumped 2.6per cent. Stocks in Shanghai slipped 0.8per cent.

  • 13:58 IST: In Europe, Germany's DAX returned 0.1per cent, and France's CAC 40 slipped 0.1per cent. The FTSE 100 in London dipped 0.1per cent.

    In Asian markets, Hong Kong's Hang Seng gained rose 2.7per cent, the Nikkei 225 in Tokyo gained 1.4per cent and South Korea's Kospi jumped 2.6per cent. Stocks in Shanghai slipped 0.8per cent.

  • Jan 20, 2021 13:40 (IST)

    Bajaj Finance share trades tad higher

    Bajaj Finance share was trading marginally higher in afternoon trade today ahead of the firm's Q3 earnings set to be announced today. The large cap stock has risen 5.52% in the last 2 days. Bajaj Finance share trades higher than 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages.

    The stock has gained 20% in one year but fallen 6% since the beginning of this year.

    The share was trading 1.09% or Rs 54.15 higher at Rs 5,015 against previous close of Rs 4,959.15 on BSE.

    Market cap of the firm rose to Rs 3.02 lakh crore.

    Bajaj Finance share trading higher ahead of Q3 earnings, here's what to expect

  • 13:40 IST: Bajaj Finance share was trading marginally higher in afternoon trade today ahead of the firm's Q3 earnings set to be announced today. The large cap stock has risen 5.52% in the last 2 days. Bajaj Finance share trades higher than 5 day, 50 day, 100 day and 200 day moving averages but lower than 20 day moving averages.

    The stock has gained 20% in one year but fallen 6% since the beginning of this year.

    The share was trading 1.09% or Rs 54.15 higher at Rs 5,015 against previous close of Rs 4,959.15 on BSE.

    Market cap of the firm rose to Rs 3.02 lakh crore.

    Bajaj Finance share trading higher ahead of Q3 earnings, here's what to expect

  • Jan 20, 2021 13:36 (IST)

    Currency outlook

    Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"All Asian Indices trading in green since strong China's GDP data and sustained inflow of dollar helped emerging market to performed well. Technically, the USDINR Spot open gap up and traded negative throughout the day. It is sustaining below 73.31 levels indicating a negative momentum may continue in the today's session. However, if it breaks the resistance of 73.31 then it may go up toward 73.47. Support is at 73.05-72.90 levels for the spot pair. Resistance for the pair is 73.31. USDINR Jan future will trade in the range of 73.10-73.40 levels."

  • 13:36 IST: Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"All Asian Indices trading in green since strong China's GDP data and sustained inflow of dollar helped emerging market to performed well. Technically, the USDINR Spot open gap up and traded negative throughout the day. It is sustaining below 73.31 levels indicating a negative momentum may continue in the today's session. However, if it breaks the resistance of 73.31 then it may go up toward 73.47. Support is at 73.05-72.90 levels for the spot pair. Resistance for the pair is 73.31. USDINR Jan future will trade in the range of 73.10-73.40 levels."

  • Jan 20, 2021 13:36 (IST)

    Sensex nears 50K mark

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said last week, "Looks like Sensex is headed for 50000. But there are bumps ahead. The market is likely to turn highly volatile during the budget. Since valuations are high and investors are sitting on good profits, partial profit booking can be considered at every rise. It is impossible to time the market"

  • 13:36 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said last week, "Looks like Sensex is headed for 50000. But there are bumps ahead. The market is likely to turn highly volatile during the budget. Since valuations are high and investors are sitting on good profits, partial profit booking can be considered at every rise. It is impossible to time the market"

  • Jan 20, 2021 13:11 (IST)

    L&T's construction arm wins large transmission orders

    Engineering major Larsen & Toubro  (L&T) on Wednesday said its construction arm, L&T Construction, has bagged large transmission line orders in Bangladesh.

    While the company didn't disclose the value of the contracts bagged by the power transmission and distribution business, as per its project classification, large projects have a value of Rs 2,500 crore to Rs 5,000 crore.

    "The scope of these packages involves design, supply, installation, testing and commissioning of extra high voltage transmission lines on turnkey basis," the company said in a regulatory filing.

    L&T's construction arm wins large transmission orders in Bangladesh

  • 13:11 IST: Engineering major Larsen & Toubro  (L&T) on Wednesday said its construction arm, L&T Construction, has bagged large transmission line orders in Bangladesh.

    While the company didn't disclose the value of the contracts bagged by the power transmission and distribution business, as per its project classification, large projects have a value of Rs 2,500 crore to Rs 5,000 crore.

    "The scope of these packages involves design, supply, installation, testing and commissioning of extra high voltage transmission lines on turnkey basis," the company said in a regulatory filing.

    L&T's construction arm wins large transmission orders in Bangladesh

  • Jan 20, 2021 13:03 (IST)

    Tata Motors share hits 52-week high

    Tata Motors share rose over 6% today amid a report that the firm has received 98 patents last year under its accelerated drive for engineering excellence and innovation. Share of Tata Motors gained 6.49% to Rs 275.65, a fresh 52-week high, against previous close of Rs 258.85 on BSE.

    Tata Motors share has risen 11.11% in the last 2 days.

    Tata Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Tata Motors stock has risen 49.46% since the beginning of this year and gained 40.76% during the last one year.

    Tata Motors share hits 52-week high, gains 52% in a month

  • 13:03 IST: Tata Motors share rose over 6% today amid a report that the firm has received 98 patents last year under its accelerated drive for engineering excellence and innovation. Share of Tata Motors gained 6.49% to Rs 275.65, a fresh 52-week high, against previous close of Rs 258.85 on BSE.

    Tata Motors share has risen 11.11% in the last 2 days.

    Tata Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Tata Motors stock has risen 49.46% since the beginning of this year and gained 40.76% during the last one year.

    Tata Motors share hits 52-week high, gains 52% in a month

  • Jan 20, 2021 12:47 (IST)

    Rupee rises 7 paise to 73.10

    Indian rupee, the domestic currency appreciated by 7 paise to 73.10 per US dollar on Wednesday's opening trade, as positive domestic equities and weak American currency lifted investor sentiment.

    The currency unit opened at 73.11 per US dollar at the interbank forex market and inched 7 paise higher to 73.10 over its previous close.

    On Tuesday, the rupee had settled at 73.17 against the American currency.

    Rupee rises 7 paise to 73.10 amid weak US dollar, positive equities

  • 12:47 IST: Indian rupee, the domestic currency appreciated by 7 paise to 73.10 per US dollar on Wednesday's opening trade, as positive domestic equities and weak American currency lifted investor sentiment.

    The currency unit opened at 73.11 per US dollar at the interbank forex market and inched 7 paise higher to 73.10 over its previous close.

    On Tuesday, the rupee had settled at 73.17 against the American currency.

    Rupee rises 7 paise to 73.10 amid weak US dollar, positive equities

  • Jan 20, 2021 12:45 (IST)

    Global markets turn mixed

    Asian markets are trading mixed with a positive bias as they reacted to China's benchmark lending rate, which was left unchanged.

    US markets bounced back and closed higher led by technology and semi-conductor stocks. Markets end higher after Janet Yellen called for more fiscal aid to support economy.

    European markets fell yesterday as investors searched for measures to support economy battered by the pandemic and recent US Treasury Secretary's speech.

     

  • 12:45 IST: Asian markets are trading mixed with a positive bias as they reacted to China's benchmark lending rate, which was left unchanged.

    US markets bounced back and closed higher led by technology and semi-conductor stocks. Markets end higher after Janet Yellen called for more fiscal aid to support economy.

    European markets fell yesterday as investors searched for measures to support economy battered by the pandemic and recent US Treasury Secretary's speech.

     

  • Jan 20, 2021 12:07 (IST)

    Nifty Outlook



    Geojit said in its research note today,"The anticipated bullish reversal was in play yesterday, but it is premature to invoke the 15200 view. Dips are favoured today, and it may not be until atleast 14470 before reasonable buying emerges. A consolidation is expected with 14430-14537 seen as the band beyond which, directional moves could gain momentum."

  • 12:07 IST:

    Geojit said in its research note today,"The anticipated bullish reversal was in play yesterday, but it is premature to invoke the 15200 view. Dips are favoured today, and it may not be until atleast 14470 before reasonable buying emerges. A consolidation is expected with 14430-14537 seen as the band beyond which, directional moves could gain momentum."

  • Jan 20, 2021 11:41 (IST)

    Why Tata Communications share fell 8%

    Tata Communications share fell nearly 8% in early trade today despite the Tata Group firm reporting a five- fold rise in Q3 profit.  The slide in the stock can be attributed to reports that government will sell its entire 26.12% stake in Tata Communications through an offer for sale and strategic sale route in the current fiscal.

    The government is expected to rake in Rs 8,400 crore from the stake sale.

    The large cap stock has fallen after 4 days of consecutive gain. Tata Communications share opened with a loss of 4.69% today  at Rs 1076.95 on BSE.

    Why Tata Communications share fell 8% despite five-fold rise in Q3 profit

  • 11:41 IST: Tata Communications share fell nearly 8% in early trade today despite the Tata Group firm reporting a five- fold rise in Q3 profit.  The slide in the stock can be attributed to reports that government will sell its entire 26.12% stake in Tata Communications through an offer for sale and strategic sale route in the current fiscal.

    The government is expected to rake in Rs 8,400 crore from the stake sale.

    The large cap stock has fallen after 4 days of consecutive gain. Tata Communications share opened with a loss of 4.69% today  at Rs 1076.95 on BSE.

    Why Tata Communications share fell 8% despite five-fold rise in Q3 profit

  • Jan 20, 2021 11:37 (IST)

    Stocks in news: Tata Communications, Sterlite Tech, Sun Pharma, Ceat, L&T Infotech



    Stocks to watch today on January 20: Tata Communications, Sterlite Tech, Sun Pharma, Ceat, L&T Infotech among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: Tata Communications, Sterlite Tech, Sun Pharma, Ceat, L&T Infotech

  • 11:37 IST:

    Stocks to watch today on January 20: Tata Communications, Sterlite Tech, Sun Pharma, Ceat, L&T Infotech among others are the top stocks to watch out for in Wednesday's trading session

    Stocks in news: Tata Communications, Sterlite Tech, Sun Pharma, Ceat, L&T Infotech

  • Jan 20, 2021 11:29 (IST)

    Indigo Paints IPO outlook and view

    LKP Securities also rated 'Subcribe' to the IPO and said,"Indigo is the fastest growing paint company which has grown at a much faster pace in the last decade than any other paint company in india. The company has adopted a differentiated approach to market and sell its products in the industry which is dominated by the larger players. Indigo has been able to expand its EBIDTA/PAT margins from 6.4%/3.2% in FY18 to 14.6%/7.7% on the back of economies of scale and better raw material sourcing. The company’s ROE & ROCE has also improved significantly to be at par with the industry leaders in the last five years."

    Indigo Paints IPO opens today: Should you subscribe to the issue?

     

  • 11:29 IST: LKP Securities also rated 'Subcribe' to the IPO and said,"Indigo is the fastest growing paint company which has grown at a much faster pace in the last decade than any other paint company in india. The company has adopted a differentiated approach to market and sell its products in the industry which is dominated by the larger players. Indigo has been able to expand its EBIDTA/PAT margins from 6.4%/3.2% in FY18 to 14.6%/7.7% on the back of economies of scale and better raw material sourcing. The company’s ROE & ROCE has also improved significantly to be at par with the industry leaders in the last five years."

    Indigo Paints IPO opens today: Should you subscribe to the issue?

     

  • Jan 20, 2021 10:53 (IST)

    Market indices trade near record highs

    Market indices continued trading on a bullish note for the second day on Wednesday, amid mixed global equities. Sensex was rising by 183 point to 49, 569 and Nifty gained by60 points to 14,581. Sensex and Nifty today touched intraday highs of 49,694 and 14,617. Yesterday, Sensex added 834 points to 49,398 and Nifty gained 239 points to 14,521. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • 10:53 IST: Market indices continued trading on a bullish note for the second day on Wednesday, amid mixed global equities. Sensex was rising by 183 point to 49, 569 and Nifty gained by60 points to 14,581. Sensex and Nifty today touched intraday highs of 49,694 and 14,617. Yesterday, Sensex added 834 points to 49,398 and Nifty gained 239 points to 14,521. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • Jan 20, 2021 10:51 (IST)

    ICICI Lombard Q3 results: Profit jumps 6.6% to Rs 314 crore

    Non-life player ICICI Lombard on Tuesday reported a marginal 6.6 per cent growth in net income to Rs 314 crore for the December quarter, boosted by the massive rally in the equity markets swelling its investment gains.


    It had posted a net profit of Rs 294.11 crore in the year-ago period, the company said in a regulatory filing.

    Gross direct premium income grew 9.2 per cent to Rs 4,034 crore from Rs 3,693 crore, against the industry's 4.9 per cent growth.

    ICICI Lombard Q3 results: Profit jumps 6.6% to Rs 314 crore on equity market rally

  • 10:51 IST: Non-life player ICICI Lombard on Tuesday reported a marginal 6.6 per cent growth in net income to Rs 314 crore for the December quarter, boosted by the massive rally in the equity markets swelling its investment gains.


    It had posted a net profit of Rs 294.11 crore in the year-ago period, the company said in a regulatory filing.

    Gross direct premium income grew 9.2 per cent to Rs 4,034 crore from Rs 3,693 crore, against the industry's 4.9 per cent growth.

    ICICI Lombard Q3 results: Profit jumps 6.6% to Rs 314 crore on equity market rally

  • Jan 20, 2021 10:41 (IST)

    Nifty technical support and resistance for today

    Reliance Research said in its note," NSE-NIFTY bounced post a negative start for the week on back of recovery across global markets. Due to recent rebound in the index, major technical indicators on the near-term timeframe chart reversed from their oversold zone and positively poised. Overall market breadth was in favour of the bulls and positive trend was observed across the sectors. Though the major parameters are in favour of the bulls, near-term consolidation cannot be ruled out before the index breaches its life-time-high of 14,653 convincingly. In case of breakout, the index will move towards 15,000-15,250-levels. On the lower side, the index will find support at around 14,250-level initially and 14,100-level subsequently.

    As for the day, support is placed at around 14,399 and then at 14,277 levels, while resistance is observed at 14,595 and then at 14,668 levels."

  • 10:41 IST: Reliance Research said in its note," NSE-NIFTY bounced post a negative start for the week on back of recovery across global markets. Due to recent rebound in the index, major technical indicators on the near-term timeframe chart reversed from their oversold zone and positively poised. Overall market breadth was in favour of the bulls and positive trend was observed across the sectors. Though the major parameters are in favour of the bulls, near-term consolidation cannot be ruled out before the index breaches its life-time-high of 14,653 convincingly. In case of breakout, the index will move towards 15,000-15,250-levels. On the lower side, the index will find support at around 14,250-level initially and 14,100-level subsequently.

    As for the day, support is placed at around 14,399 and then at 14,277 levels, while resistance is observed at 14,595 and then at 14,668 levels."

  • Jan 20, 2021 10:33 (IST)

    Market opening outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"We are trading above the 14550 level which is a resistance point for the Nifty. If we can keep above this, our next target should be 14750-14800. Given the strong undercurrent we can possibly stretch towards 15000 too. A strong support now lies at 14200 and hence any dip or correction can be utilised to enter the index for higher targets."


     

  • 10:33 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"We are trading above the 14550 level which is a resistance point for the Nifty. If we can keep above this, our next target should be 14750-14800. Given the strong undercurrent we can possibly stretch towards 15000 too. A strong support now lies at 14200 and hence any dip or correction can be utilised to enter the index for higher targets."


     

  • Jan 20, 2021 10:29 (IST)

    Alembic Pharma Q3 outlook

    Yash Gupta Equity Research Associate, Angel Broking said,Alembic pharmaceutical reported weak results. Alembic Pharmaceutical Ltd total revenue from operations for Q3FY21 stood at Rs 1,314 crores up by 9% YoY from Rs 1209 crores in Q3FY20. API business has done well for the company which is up by 21% stood at Rs 214 crores in Q3FY21 from Rs 177 crores in Q3FY20 while international formulation business up by 3% in Q3FY21 stood at Rs 683 crores. EBITDA for Q3FY21 stood at Rs 401 crores up by 21% as compared to Rs 332crores in Q3FY20. Profit before tax for the quarter up by 24% at Rs 352 crores in Q3FY21 as compared to Rs 283 crores in Q3FY20. Profit after tax for the quarter up by 25% at Rs 293 crores in Q3FY21 as compared to Rs 234 crores in Q3FY20. Company has reported a weak set of numbers as the USA market degrow by 1% due to the sartan base effect. API business has also come down from Q2FY21 as chinese players are back in the market. Reported numbers are below our expectation. We have a neutral rating on Alembic.

     

  • 10:29 IST: Yash Gupta Equity Research Associate, Angel Broking said,Alembic pharmaceutical reported weak results. Alembic Pharmaceutical Ltd total revenue from operations for Q3FY21 stood at Rs 1,314 crores up by 9% YoY from Rs 1209 crores in Q3FY20. API business has done well for the company which is up by 21% stood at Rs 214 crores in Q3FY21 from Rs 177 crores in Q3FY20 while international formulation business up by 3% in Q3FY21 stood at Rs 683 crores. EBITDA for Q3FY21 stood at Rs 401 crores up by 21% as compared to Rs 332crores in Q3FY20. Profit before tax for the quarter up by 24% at Rs 352 crores in Q3FY21 as compared to Rs 283 crores in Q3FY20. Profit after tax for the quarter up by 25% at Rs 293 crores in Q3FY21 as compared to Rs 234 crores in Q3FY20. Company has reported a weak set of numbers as the USA market degrow by 1% due to the sartan base effect. API business has also come down from Q2FY21 as chinese players are back in the market. Reported numbers are below our expectation. We have a neutral rating on Alembic.

     

  • Jan 20, 2021 10:29 (IST)

    India's oil imports reach 3-year high in Dec 2020 at 5 million bpd

    India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed. India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally.

    December oil imports by India, the world's third biggest crude importer and consumer, were about 29% more than the previous month and about 11.6% higher than a year earlier, the data showed, after fuel consumption rose for a fourth straight month to an 11-month high in December.

    India's oil imports reach 3-year high in Dec 2020 at 5 million bpd

  • 10:29 IST: India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed. India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally.

    December oil imports by India, the world's third biggest crude importer and consumer, were about 29% more than the previous month and about 11.6% higher than a year earlier, the data showed, after fuel consumption rose for a fourth straight month to an 11-month high in December.

    India's oil imports reach 3-year high in Dec 2020 at 5 million bpd

  • Jan 20, 2021 10:19 (IST)

    IPO - Indigo Paints



    Angel Broking said in its note today,"Company has been gaining market share, we believe it will continue to gain market share in the upcoming years also due to the strong management team, strategies planned by the company and smaller base compared to top four players. Company’s revenue from operations have grown at a CAGR of 41.9% between Fiscal 2010 and Fiscal 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. There is further scope left for the company to improve EBIDTA margins due to operating leverage especially in the cost of advertisement expense. Issue is priced at 98.4x PE on a trailing basis in terms of fully diluted EPS, which we believe is quite reasonable by looking at the future growth prospects of the company. We are positive on the long term prospects of the industry as well the company, we recommend "SUBSCRIBE" to the Indigo Paints IPO for long term as well as for listing gains.

     

  • 10:19 IST:

    Angel Broking said in its note today,"Company has been gaining market share, we believe it will continue to gain market share in the upcoming years also due to the strong management team, strategies planned by the company and smaller base compared to top four players. Company’s revenue from operations have grown at a CAGR of 41.9% between Fiscal 2010 and Fiscal 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. There is further scope left for the company to improve EBIDTA margins due to operating leverage especially in the cost of advertisement expense. Issue is priced at 98.4x PE on a trailing basis in terms of fully diluted EPS, which we believe is quite reasonable by looking at the future growth prospects of the company. We are positive on the long term prospects of the industry as well the company, we recommend "SUBSCRIBE" to the Indigo Paints IPO for long term as well as for listing gains.

     

  • Jan 20, 2021 10:12 (IST)

    Home First Finance Company India (HFFCI) - IPO




    Reliance Research said in its report today," The IPO is valued at 4.8x FY20 book-value and 4.3x FY21 annualized book-value, which look to be ~33% discount to Aavas Financiers (AAVAS) and ~60% premium to Can Fin Homes (CANFIN). Given, earnings CAGR of 122% over FY18-20 as against 64% / 15% by AAVAS / CANFIN during the same period along with company’s ability to sustain growth momentum led by huge opportunity and robust capital ratio, premium valuation to CANFIN is justified. AAVAS, which was listed in Oct’18, delivered a return of over 130% to its shareholders so far mainly supported by sustained earnings growth. In our view, likelihood of sustained earnings growth augurs well for HFFCI. Hence, we recommend SUBSCRIBE to the issue from the long-term perspective."

     

  • 10:12 IST:


    Reliance Research said in its report today," The IPO is valued at 4.8x FY20 book-value and 4.3x FY21 annualized book-value, which look to be ~33% discount to Aavas Financiers (AAVAS) and ~60% premium to Can Fin Homes (CANFIN). Given, earnings CAGR of 122% over FY18-20 as against 64% / 15% by AAVAS / CANFIN during the same period along with company’s ability to sustain growth momentum led by huge opportunity and robust capital ratio, premium valuation to CANFIN is justified. AAVAS, which was listed in Oct’18, delivered a return of over 130% to its shareholders so far mainly supported by sustained earnings growth. In our view, likelihood of sustained earnings growth augurs well for HFFCI. Hence, we recommend SUBSCRIBE to the issue from the long-term perspective."

     

  • Jan 20, 2021 09:31 (IST)

    Opening session: Indices trade near record highs

    Market indices opened on a bullish note on Wednesday, amid positive global equities. Sensex was rising by 183 point to 49, 569 and Nifty gained by60 points to 14,581. Sensex and Nifty today touched intraday highs of 49,595 and 14,587, respectively.

  • 09:31 IST: Market indices opened on a bullish note on Wednesday, amid positive global equities. Sensex was rising by 183 point to 49, 569 and Nifty gained by60 points to 14,581. Sensex and Nifty today touched intraday highs of 49,595 and 14,587, respectively.

  • Jan 20, 2021 09:24 (IST)

    Bouyed global markets

    US stocks climbed on Tuesday as investors reacted to Janet Yellen, President-elect Joe Biden's designated nominee for Treasury Secretary's call for the federal government to enact a large stimulus to help the economy. Further, results from the new earnings season as well as signals for another big stimulus and faster pace of vaccine distribution ahead kept sentiments bouyed.

    Overseas, Asian stocks were mostly higher on Wednesday as investors in Asia-Pacific reacted to the release of China's latest benchmark lending rate, that were left unchanged.

    Investors also await Biden's inauguration on Wednesday, who last week  unveiled his $1.9 trillion plan for economic relief as the country tries to get a handle on the Covid-19 pandemic.

     

  • 09:24 IST: US stocks climbed on Tuesday as investors reacted to Janet Yellen, President-elect Joe Biden's designated nominee for Treasury Secretary's call for the federal government to enact a large stimulus to help the economy. Further, results from the new earnings season as well as signals for another big stimulus and faster pace of vaccine distribution ahead kept sentiments bouyed.

    Overseas, Asian stocks were mostly higher on Wednesday as investors in Asia-Pacific reacted to the release of China's latest benchmark lending rate, that were left unchanged.

    Investors also await Biden's inauguration on Wednesday, who last week  unveiled his $1.9 trillion plan for economic relief as the country tries to get a handle on the Covid-19 pandemic.

     

  • Jan 20, 2021 09:18 (IST)

    FII action on Tuesday

    Foreign portfolio investors (FPIs) bought shares worth Rs 257.55 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 199.30 crore in the Indian equity market on 19 January, provisional data showed.


     

  • 09:18 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 257.55 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 199.30 crore in the Indian equity market on 19 January, provisional data showed.


     

  • Jan 20, 2021 09:08 (IST)

    Earnings Today


    Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, Federal Bank, Hindustan Zinc, Havells India, L&T Technology Services, Newgen Software Technologies, Phillips Carbon Black, Sagar Cements, Allsec Technologies, GMM Pfaudler, Sasken Technologies, Agro Tech Foods, Confidence Petroleum India, Dhruv Estates, Everest Industries, G G Engineering, Indo Rama Synthetics, Sterlite Technologies, Syngene International, Tejas Networks, Tinplate Company of India and VST Industries are among 36 companies that are slated to announce their quarterly earnings.

     

  • 09:08 IST:
    Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, Federal Bank, Hindustan Zinc, Havells India, L&T Technology Services, Newgen Software Technologies, Phillips Carbon Black, Sagar Cements, Allsec Technologies, GMM Pfaudler, Sasken Technologies, Agro Tech Foods, Confidence Petroleum India, Dhruv Estates, Everest Industries, G G Engineering, Indo Rama Synthetics, Sterlite Technologies, Syngene International, Tejas Networks, Tinplate Company of India and VST Industries are among 36 companies that are slated to announce their quarterly earnings.

     

  • Jan 20, 2021 09:08 (IST)

    Nifty technicals

    Ashis Biswas, Head of Technical at CapitalVia Global Research Limited said," Market is aligned to be in a range-bound movement between the levels of 14180-14680. Our research suggests, a decisive breakout above the zone of 14680-14700 could lead to an improvement in market breadth, and a rally till the levels of 14850-14870."

    "Going ahead, 14450 and 14320 would now be seen as immediate supports, whereas 14600-14620 would be the immediate range to watch," said Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking.

  • 09:08 IST: Ashis Biswas, Head of Technical at CapitalVia Global Research Limited said," Market is aligned to be in a range-bound movement between the levels of 14180-14680. Our research suggests, a decisive breakout above the zone of 14680-14700 could lead to an improvement in market breadth, and a rally till the levels of 14850-14870."

    "Going ahead, 14450 and 14320 would now be seen as immediate supports, whereas 14600-14620 would be the immediate range to watch," said Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking.

  • Jan 20, 2021 09:07 (IST)

    Closing session on Tuesday

    Market benchmarks jumped on Tuesday to trade near record highs, tracking cues from positive global equities.  Sensex added 834 points to 49,398 and Nifty gained 239 points to 14,521. Sensex and Nifty today touched intraday highs of 49,499 and 14,546, respectively.

  • 09:07 IST: Market benchmarks jumped on Tuesday to trade near record highs, tracking cues from positive global equities.  Sensex added 834 points to 49,398 and Nifty gained 239 points to 14,521. Sensex and Nifty today touched intraday highs of 49,499 and 14,546, respectively.