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Share Market Highlights: Sensex ends 834 points higher, Nifty at 14,521; Bajaj twins, HDFC, L&T top gainers

January 19,2021 17:28 IST

Sensex, Nifty Highlights on January 19: Reversing from yesterday's lows, market benchmarks rose sharply on Tuesday and closed near record highs, tracking cues from positive global equities. Sensex added 834 points today to 49,398 and Nifty gained by 239 points to 14,521. Sensex and Nifty today touched intraday high of 49,499 and 14,546. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively. Bajaj Finance, followed by SBI, ONGC, IndusInd Bank, Reliance Industries, HDFC and Axis Bank were among the top gainers. On the other hand, ITC and HDFC Bank were the laggards. Meanwhile, September quarterly earnings announcements by ICICI Lombard General Insurance Company, Alembic Pharma, Ceat, CSB Bank, DCM Shriram, L&T Infotech, Skipper, Tata Communications will also set the tone for the stock market today. Yesterday, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281.

 

 

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

 

 

 

Check Latest Updates

KEY UPDATES

  • India Stock Market Highlights Today: September quarterly earnings announcements by ICICI Lombard General Insurance Company, Alembic Pharma, Ceat, CSB Bank, DCM Shriram, L&T Infotech, Skipper, Tata Communications will also set the tone for the stock market today
  • Jan 19, 2021 15:59 (IST)

    Closing trading session on Tuesday

    Reversing from yesterday's lows, market benchmarks rose sharply on Tuesday and closed near record highs, tracking cues from positive global equities. Sensex added 834 points today to 49,398 and Nifty gained by 239 points to 14,521. Sensex and Nifty today touched intraday high of 49,499 and 14,546. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • 15:59 IST: Reversing from yesterday's lows, market benchmarks rose sharply on Tuesday and closed near record highs, tracking cues from positive global equities. Sensex added 834 points today to 49,398 and Nifty gained by 239 points to 14,521. Sensex and Nifty today touched intraday high of 49,499 and 14,546. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • Jan 19, 2021 15:46 (IST)

    Nifty closing session outlook

    On markets closing --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has closed around its resistance area of 14550-14600. If we manage to get past that level, we should be headed to 14800-14900. The index has made a strong base at the 14200 level which acted as a good support. Keeping a close below this level as a stop, traders can initiate long positions for higher targets."



     

  • 15:46 IST: On markets closing --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The Nifty has closed around its resistance area of 14550-14600. If we manage to get past that level, we should be headed to 14800-14900. The index has made a strong base at the 14200 level which acted as a good support. Keeping a close below this level as a stop, traders can initiate long positions for higher targets."



     

  • Jan 19, 2021 15:25 (IST)

    Market technical outlook

    Mohit Ralhan, Managing Partner & CIO, TIW Private Equity said," The result season has started well giving encouraging sign. The vaccination drive is progressing well. Also, the global cues have been positive with expectation of a large fiscal push in USA. The overall sentiment is quite bullish. We expect that the market will now take its next major cue from the budget. The multiple expansion driven returns will ease out and returns will be linked more to growth from here on."

  • 15:25 IST: Mohit Ralhan, Managing Partner & CIO, TIW Private Equity said," The result season has started well giving encouraging sign. The vaccination drive is progressing well. Also, the global cues have been positive with expectation of a large fiscal push in USA. The overall sentiment is quite bullish. We expect that the market will now take its next major cue from the budget. The multiple expansion driven returns will ease out and returns will be linked more to growth from here on."

  • Jan 19, 2021 15:13 (IST)

    Sensex reclaims 49K mark, Nifty nears 14,450 gainers

    Market cap on BSE rose to Rs 195.40 lakh crore in early trade.  Market breadth was positive with 1910 stocks rising against 591 falling on BSE. 112 stocks were unchanged.

    On BSE, 149 stocks hit 52-week highs and 18 stocks fell to 52 week lows.

    Overseas, Hong Kong's Hang Seng led the advance, gaining 3.2% to 29,784.44 and the Nikkei 225 in Tokyo gained 1.5% to 28,673.84. South Korea's Kospi jumped 2.7% to 3,095.96. In Australia, the S&P/ASX 500 rose 1.2% to 6,740.60. The Shanghai Composite index was flat at 3,596.10.

    Sensex reclaims 49K mark, Nifty nears 14,450; Bajaj Finance, SBI, ONGC top gainers

  • 15:13 IST: Market cap on BSE rose to Rs 195.40 lakh crore in early trade.  Market breadth was positive with 1910 stocks rising against 591 falling on BSE. 112 stocks were unchanged.

    On BSE, 149 stocks hit 52-week highs and 18 stocks fell to 52 week lows.

    Overseas, Hong Kong's Hang Seng led the advance, gaining 3.2% to 29,784.44 and the Nikkei 225 in Tokyo gained 1.5% to 28,673.84. South Korea's Kospi jumped 2.7% to 3,095.96. In Australia, the S&P/ASX 500 rose 1.2% to 6,740.60. The Shanghai Composite index was flat at 3,596.10.

    Sensex reclaims 49K mark, Nifty nears 14,450; Bajaj Finance, SBI, ONGC top gainers

  • Jan 19, 2021 15:00 (IST)

    Rupee rises 13 paise to 73.15

    The rupee appreciated 13 paise to 73.15 per dollar on Tuesday's opening trade as positive domestic equities and weakness in the American currency boosted investor sentiment.

    The domestic unit opened at 73.16 against the US dollar at the interbank forex market, and inched 13 paise higher to 73.15 over its previous close.

    Yesterday, Indian rupee plunged 21 paise to end at 73.28 against the dollar index that traded near one-month high on risk aversion.

    Rupee rises 13 paise to 73.15 amid weak US dollar, positive equities

  • 15:00 IST: The rupee appreciated 13 paise to 73.15 per dollar on Tuesday's opening trade as positive domestic equities and weakness in the American currency boosted investor sentiment.

    The domestic unit opened at 73.16 against the US dollar at the interbank forex market, and inched 13 paise higher to 73.15 over its previous close.

    Yesterday, Indian rupee plunged 21 paise to end at 73.28 against the dollar index that traded near one-month high on risk aversion.

    Rupee rises 13 paise to 73.15 amid weak US dollar, positive equities

  • Jan 19, 2021 14:55 (IST)

    IRFC IPO subscribed 65% on first day of share sale

    The initial public offer (IPO)  of Indian Railway Finance Corporation (IRFC) was subscribed 0.65 times of 65 per cent on the first day of subscription on Monday. The IPO received bids for 80,89,30,700 shares against 1,24,75,05,993 shares on offer, as per data available with the NSE. The category reserved for non-institutional investors was subscribed 9 per cent and retail individual investors 1.25 times.

    IRFC IPO subscribed 65% on first day of share sale

  • 14:55 IST: The initial public offer (IPO)  of Indian Railway Finance Corporation (IRFC) was subscribed 0.65 times of 65 per cent on the first day of subscription on Monday. The IPO received bids for 80,89,30,700 shares against 1,24,75,05,993 shares on offer, as per data available with the NSE. The category reserved for non-institutional investors was subscribed 9 per cent and retail individual investors 1.25 times.

    IRFC IPO subscribed 65% on first day of share sale

  • Jan 19, 2021 14:53 (IST)

    Mindtree share approaches record high

    Share of L&T group IT firm Mindtree were trading near record highs in Tuesday's early session after analysts raised the target price for the stock. The company beat earnings estimates in the December quarter.

    The mid-sized software services provider posted a 66% YoY growth in its net profit to Rs. 326.5 crore for Q3 FY21 as against Rs 197 crore in a year-earlier period. On a sequential basis, the net profit was up 28.7%.

    For the quarter under review, the Bengaluru-headquartered Mindtree's recorded revenue at Rs 2,023.7 crore, up 5% sequentially and 3% annually. Reversing from losses, Mindtree share price opened with a gain of 2.55% today at Rs 1,703 against the previous close of Rs 1,660.60 and later gained 5.97% to hit the day's high of Rs 1,759.7 on BSE. The stock also hit an intraday low of Rs 1,667.25. The stock has gained after 5 days of consecutive fall.

    Mindtree share approaches record high on strong Q3 earnings

  • 14:53 IST: Share of L&T group IT firm Mindtree were trading near record highs in Tuesday's early session after analysts raised the target price for the stock. The company beat earnings estimates in the December quarter.

    The mid-sized software services provider posted a 66% YoY growth in its net profit to Rs. 326.5 crore for Q3 FY21 as against Rs 197 crore in a year-earlier period. On a sequential basis, the net profit was up 28.7%.

    For the quarter under review, the Bengaluru-headquartered Mindtree's recorded revenue at Rs 2,023.7 crore, up 5% sequentially and 3% annually. Reversing from losses, Mindtree share price opened with a gain of 2.55% today at Rs 1,703 against the previous close of Rs 1,660.60 and later gained 5.97% to hit the day's high of Rs 1,759.7 on BSE. The stock also hit an intraday low of Rs 1,667.25. The stock has gained after 5 days of consecutive fall.

    Mindtree share approaches record high on strong Q3 earnings

  • Jan 19, 2021 14:50 (IST)

    Bajaj Finserv share rises 10%

    Shares of Bajaj Finserv were rose 10% in Tuesday's early session, trading among the top gainers of both bourses NSE and BSE today.

    The highly volatile share gained today following rise in the financial index and broader indices Sensex and Nifty, that were trading near record highs.

    Reversing from losses, Bajaj Finserv share price opened with a gain of 9.45% today, at its intraday high of Rs 9,144, against the previous close of Rs 8,354.40 on BSE. The stock also hit an intraday low of Rs 8402.05. The stock has gained after 6 days of consecutive fall.

    Bajaj Finserv share rises 10%; among top gainers on BSE, NSE

  • 14:50 IST: Shares of Bajaj Finserv were rose 10% in Tuesday's early session, trading among the top gainers of both bourses NSE and BSE today.

    The highly volatile share gained today following rise in the financial index and broader indices Sensex and Nifty, that were trading near record highs.

    Reversing from losses, Bajaj Finserv share price opened with a gain of 9.45% today, at its intraday high of Rs 9,144, against the previous close of Rs 8,354.40 on BSE. The stock also hit an intraday low of Rs 8402.05. The stock has gained after 6 days of consecutive fall.

    Bajaj Finserv share rises 10%; among top gainers on BSE, NSE

  • Jan 19, 2021 14:48 (IST)

    Market near fresh highs

    Reversing from yesterday's lows, market benchmarks jumped on Tuesday to trade near record highs, tracking cues from positive global equities. Sensex added 663 points today to 49,200 and Nifty gained by 183 points to 14,465. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • 14:48 IST: Reversing from yesterday's lows, market benchmarks jumped on Tuesday to trade near record highs, tracking cues from positive global equities. Sensex added 663 points today to 49,200 and Nifty gained by 183 points to 14,465. Earlier on January 13, Sensex and Nifty hit fresh lifetime highs of 49,795 and 14,653, respectively.

  • Jan 19, 2021 14:36 (IST)

    Nifty Outlook




    Geojit said in ite report today," Though bears retained upper hand, the mid day reversal attempt, despite being unsuccessful, lowers the probability of the 13900 move. But it continues to be in play. A successful push above 14430 could however, cast away such doubts and revive the 15200 possibilities.

     

  • 14:36 IST:


    Geojit said in ite report today," Though bears retained upper hand, the mid day reversal attempt, despite being unsuccessful, lowers the probability of the 13900 move. But it continues to be in play. A successful push above 14430 could however, cast away such doubts and revive the 15200 possibilities.

     

  • Jan 19, 2021 14:21 (IST)

    YES Bank share price rises for second straight session




    YES Bank share was trading higher for the second straight session on Tuesday, after the lender's board announced it plans to consider fund-raising through various means, during its meeting on January 22. The bank is also set to announce its December quarter earnings on the same day.

    On 18 January, the private lender said in its filing that, "Raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants, any other equity-linked securities through permissible modes subject to necessary shareholders, regulatory approvals as applicable."


    The stock of private lender opened higher at its previous close of Rs 17.70 against and gained 1.6% to hit the day's high of Rs 18 on BSE. The stock also hit an intraday low of Rs 17.60. Ranking among the most active banking scrips in terms of volumes on both BSE and NSE, YES Bank stock price has risen 0.85% in the last 2 days of consecutive gains.


    The rise also came after brokerage house Jefferies said in a report that the Piramal group winning creditors' approval to take over DHFL's loans was a "marginal positive" outcome for banks that have exposure to DHFL including state-run Bank of India Canara Bank and Union Bank of India and private-sector lenders such as YES Bank.

    YES Bank share rises for second session, here's why

  • 14:21 IST:


    YES Bank share was trading higher for the second straight session on Tuesday, after the lender's board announced it plans to consider fund-raising through various means, during its meeting on January 22. The bank is also set to announce its December quarter earnings on the same day.

    On 18 January, the private lender said in its filing that, "Raising of funds by issue of equity shares, depository receipts, convertible bonds, debentures, warrants, any other equity-linked securities through permissible modes subject to necessary shareholders, regulatory approvals as applicable."


    The stock of private lender opened higher at its previous close of Rs 17.70 against and gained 1.6% to hit the day's high of Rs 18 on BSE. The stock also hit an intraday low of Rs 17.60. Ranking among the most active banking scrips in terms of volumes on both BSE and NSE, YES Bank stock price has risen 0.85% in the last 2 days of consecutive gains.


    The rise also came after brokerage house Jefferies said in a report that the Piramal group winning creditors' approval to take over DHFL's loans was a "marginal positive" outcome for banks that have exposure to DHFL including state-run Bank of India Canara Bank and Union Bank of India and private-sector lenders such as YES Bank.

    YES Bank share rises for second session, here's why

  • Jan 19, 2021 14:04 (IST)

    Godrej Properties - technical outlook



    Reliance Research said in its note," The stock breached its prior daily falling trend. The stock found multiple support between Rs 1,290-1,280-levels. Major technical indicators on the near-term timeframe chart are in favour of the bulls. The stock has potential to record new high and will test Rs 1,680. In case of decline, the stock will find strong support at around its near-term support zone (Rs 1,290-1,280 levels). Long position can be initiated in Rs 1,410-1,390 range for the target of Rs 1,680 with the closing based stop loss of Rs 1,280."

  • 14:04 IST:

    Reliance Research said in its note," The stock breached its prior daily falling trend. The stock found multiple support between Rs 1,290-1,280-levels. Major technical indicators on the near-term timeframe chart are in favour of the bulls. The stock has potential to record new high and will test Rs 1,680. In case of decline, the stock will find strong support at around its near-term support zone (Rs 1,290-1,280 levels). Long position can be initiated in Rs 1,410-1,390 range for the target of Rs 1,680 with the closing based stop loss of Rs 1,280."

  • Jan 19, 2021 13:45 (IST)

    Outlook for Real Estate Sector



    Vimal Monga, VP- sales and leasing (commercial), TDI Infratech Ltd. says, “Real estate is the engine of Indian economy, many sectors are Associated with real estate industry like cement, steel, building material, paint, consumer durable.

    With a boost to real estate sector, all associated sectors will get a boost also it will help in employment generation. Govt should consider reducing taxes on raw material for real estate as construction cost is getting higher. The sector also expects stamp duty reduction along with GST reduction. Another demand will be expecting an increase in deduction limit under SEC 80C for home loan buyers, accompanied with tax benefit on interest paid for loan on under-construction properties bought by home loan borrowers; as currently, it is on possession ready properties only.

  • 13:45 IST:

    Vimal Monga, VP- sales and leasing (commercial), TDI Infratech Ltd. says, “Real estate is the engine of Indian economy, many sectors are Associated with real estate industry like cement, steel, building material, paint, consumer durable.

    With a boost to real estate sector, all associated sectors will get a boost also it will help in employment generation. Govt should consider reducing taxes on raw material for real estate as construction cost is getting higher. The sector also expects stamp duty reduction along with GST reduction. Another demand will be expecting an increase in deduction limit under SEC 80C for home loan buyers, accompanied with tax benefit on interest paid for loan on under-construction properties bought by home loan borrowers; as currently, it is on possession ready properties only.

  • Jan 19, 2021 13:44 (IST)

    Global markets mostly bouyed today




    Asian markets are mostly bouyed and are tilted towards the positive side led by Kospi. Markets also await Janet Yellen's speech later today.

    US markets were shut yesterday for Martin Luther King Jr. holiday. US Futures were, however, witnessing some pull back ahead of Janet Yellen's speech today and Joe Biden taking office tomorrow.

    European markets closed slightly higher led by Auto stocks. Rising coronavirus cases and vaccination continued to dominate headlines.

  • 13:44 IST:


    Asian markets are mostly bouyed and are tilted towards the positive side led by Kospi. Markets also await Janet Yellen's speech later today.

    US markets were shut yesterday for Martin Luther King Jr. holiday. US Futures were, however, witnessing some pull back ahead of Janet Yellen's speech today and Joe Biden taking office tomorrow.

    European markets closed slightly higher led by Auto stocks. Rising coronavirus cases and vaccination continued to dominate headlines.

  • Jan 19, 2021 13:13 (IST)

    Top gainers and losers today

    Bajaj Finance, followed by SBI, ONGC, IndusInd Bank, Reliance Industries, HDFC and Axis Bank were among the top gainers. On the other hand, ITC and HDFC Bank were the laggards.

     

  • 13:13 IST: Bajaj Finance, followed by SBI, ONGC, IndusInd Bank, Reliance Industries, HDFC and Axis Bank were among the top gainers. On the other hand, ITC and HDFC Bank were the laggards.

     

  • Jan 19, 2021 13:00 (IST)

    TCS bags Three UK's contract to accelerate 5G rollout

    Leading global IT services major Tata Consultancy Services(TCS) has been selected by one of the UK's leading  mobile network carriers Three UK to configure its mobile network for its ongoing 5G services rollout.
    Three UK is in the process of deploying a new 5G radio access network, which already live in 175 towns and cities in the UK. TCS will manage the configuration of a new core next generation mobile network and ensure it integrates correctly with the 5G radio access network.

    Its work will include configuring the core network for new site deployments,  site upgrades, performance management, and 3G and 4G tuning changes.

    TCS bags Three UK's contract to accelerate 5G rollout

     

  • 13:00 IST: Leading global IT services major Tata Consultancy Services(TCS) has been selected by one of the UK's leading  mobile network carriers Three UK to configure its mobile network for its ongoing 5G services rollout.
    Three UK is in the process of deploying a new 5G radio access network, which already live in 175 towns and cities in the UK. TCS will manage the configuration of a new core next generation mobile network and ensure it integrates correctly with the 5G radio access network.

    Its work will include configuring the core network for new site deployments,  site upgrades, performance management, and 3G and 4G tuning changes.

    TCS bags Three UK's contract to accelerate 5G rollout

     

  • Jan 19, 2021 12:48 (IST)

    Brent crude futures rise today

    Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 55.01 per barrel. Oil price continued its downside and concerns rose over fuel demand from major consumers as coronavirus continued to rise.

  • 12:48 IST: Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 55.01 per barrel. Oil price continued its downside and concerns rose over fuel demand from major consumers as coronavirus continued to rise.

  • Jan 19, 2021 12:40 (IST)

    Adani Enterprises latest announcement




    The company said in its note,"We are pleased to inform you that Adani Jaipur International Airport Limited, Adani Guwahati International Airport Limited and Adani Thiruvananthapura International Airport Limited, wholly-owned subsidiaries of the Company hav signed the Concession Agreement on 19th January, 2021 with Airport Authority of India for the Operations. Management and development of Jaipur Guwahati and Thiruvananthapuram Airports respectively. The concession period is 50 years from the commercial operation date."

  • 12:40 IST:


    The company said in its note,"We are pleased to inform you that Adani Jaipur International Airport Limited, Adani Guwahati International Airport Limited and Adani Thiruvananthapura International Airport Limited, wholly-owned subsidiaries of the Company hav signed the Concession Agreement on 19th January, 2021 with Airport Authority of India for the Operations. Management and development of Jaipur Guwahati and Thiruvananthapuram Airports respectively. The concession period is 50 years from the commercial operation date."

  • Jan 19, 2021 12:35 (IST)

    L&T Finance Holdings Q3 outlook



    JM Financial Institutional Securities Limited siad in its note, "In 3QFY21, LTFH reported PAT of INR 29.1bn (up 1% QoQ/ down 51% YoY) and PBT (pre extraordinary) of INR 3.5bn (up 1% QoQ/ down 52% YoY), impacted by higher provisions (up, 25% QoQ/ 69% YoY). Operating performance recovered with PPOP up, 18% QoQ/ 3% YoY in 3QFY21. Credit cost remains elevated and were up 81bps QoQ (161bps YoY) to 4.1%. Maximum potential restructuring is expected to be INR 14.4bn i.e. ~1.4% of book. The company did not make additional provisions in 3QFY21 but is carrying contingent provisions including COVID19 provisions of INR17.4 as of Dec’20 - 174bps of book. CE has reached to pre-Covid levels, but cheque bounces have not returned to pre-Covid levels, accordingly cost of collection remains high. We forecast loan book CAGR of 5% over FY20-FY23E. Currently, LTFH has a leverage of c.6x. Board has approved to raise INR 30bn through Rights Issue at a price of INR 65/share (ratio of 17:74). We have incorporated these in our estimates. We value LTFH at 1.2x FY23E BV to arrive at our TP of INR 110."

  • 12:35 IST:

    JM Financial Institutional Securities Limited siad in its note, "In 3QFY21, LTFH reported PAT of INR 29.1bn (up 1% QoQ/ down 51% YoY) and PBT (pre extraordinary) of INR 3.5bn (up 1% QoQ/ down 52% YoY), impacted by higher provisions (up, 25% QoQ/ 69% YoY). Operating performance recovered with PPOP up, 18% QoQ/ 3% YoY in 3QFY21. Credit cost remains elevated and were up 81bps QoQ (161bps YoY) to 4.1%. Maximum potential restructuring is expected to be INR 14.4bn i.e. ~1.4% of book. The company did not make additional provisions in 3QFY21 but is carrying contingent provisions including COVID19 provisions of INR17.4 as of Dec’20 - 174bps of book. CE has reached to pre-Covid levels, but cheque bounces have not returned to pre-Covid levels, accordingly cost of collection remains high. We forecast loan book CAGR of 5% over FY20-FY23E. Currently, LTFH has a leverage of c.6x. Board has approved to raise INR 30bn through Rights Issue at a price of INR 65/share (ratio of 17:74). We have incorporated these in our estimates. We value LTFH at 1.2x FY23E BV to arrive at our TP of INR 110."

  • Jan 19, 2021 12:06 (IST)

    Equity indices trade near record highs

    Reversing from yesterday's lows, market benchmarks traded majorly positive on Tuesday, tracking cues from positive global equities. Sensex added 663 points today to 49,200 and Nifty gained by 183 points to 14,465.

  • 12:06 IST: Reversing from yesterday's lows, market benchmarks traded majorly positive on Tuesday, tracking cues from positive global equities. Sensex added 663 points today to 49,200 and Nifty gained by 183 points to 14,465.

  • Jan 19, 2021 11:54 (IST)

    IRFC and Indigo Paints IPO outlook and view

    Nirali Shah, Senior Research Analyst, Samco Securities said,"IRFC is the first IPO to hit Dalal Street in the calendar year 2021 which is a direct play on the growth of Indian railways. The Company’s leases and loans are backed by MOR and that’s why it has reported nil NPAs for the quarter ended September, 2020. Fundamentally, the company is stable and has diversified sources of funding. IRFC’s AUM has also grown at a 20% CAGR from 2018 to 2020. However, despite being the primary lender to the Indian Railways the company comes with its own set of risks. Firstly, it is highly dependent on the MOR for its margins and any adverse determination of the margin will also impact its profitability. Additionally, there is a possibility that its cost of funds may rise in the future. Keeping these inherent risks in mind, we feel investors should assess their own risk appetite and then decide to go for the IPO. Also, Indigo Paints which is also expected to come out with an IPO this week seems to be safer opportunity."

    She added," As far as Indigo Paints is concerned, it is the fastest growing paints company in India in terms of revenues, in a highly oligopolistic paint market. The Company has introduced differentiated product categories such as Metallic and Tile coat emulsions. It has made its brand name despite strong entry barriers due to experienced players such as Asian Paints. Indigo Paints has roped in MS Dhoni as its brand ambassador and the Company is actively present in the public eye due to their aggressive A&P spends accounting to around 12.7% of their revenue vis-à-vis peers who spend close to 4-5%. Financials have been extremely strong for this paints player with minimal debt on its books. There are a few challenges in terms of setting up a wide distribution presence amidst well established players, its skewed market presence in South India especially Kerala and rich valuations at a PE of 140x compared to sector average of 95x. Therefore, investors can subscribe to Indigo Paints for listing gains only at the moment."

  • 11:54 IST: Nirali Shah, Senior Research Analyst, Samco Securities said,"IRFC is the first IPO to hit Dalal Street in the calendar year 2021 which is a direct play on the growth of Indian railways. The Company’s leases and loans are backed by MOR and that’s why it has reported nil NPAs for the quarter ended September, 2020. Fundamentally, the company is stable and has diversified sources of funding. IRFC’s AUM has also grown at a 20% CAGR from 2018 to 2020. However, despite being the primary lender to the Indian Railways the company comes with its own set of risks. Firstly, it is highly dependent on the MOR for its margins and any adverse determination of the margin will also impact its profitability. Additionally, there is a possibility that its cost of funds may rise in the future. Keeping these inherent risks in mind, we feel investors should assess their own risk appetite and then decide to go for the IPO. Also, Indigo Paints which is also expected to come out with an IPO this week seems to be safer opportunity."

    She added," As far as Indigo Paints is concerned, it is the fastest growing paints company in India in terms of revenues, in a highly oligopolistic paint market. The Company has introduced differentiated product categories such as Metallic and Tile coat emulsions. It has made its brand name despite strong entry barriers due to experienced players such as Asian Paints. Indigo Paints has roped in MS Dhoni as its brand ambassador and the Company is actively present in the public eye due to their aggressive A&P spends accounting to around 12.7% of their revenue vis-à-vis peers who spend close to 4-5%. Financials have been extremely strong for this paints player with minimal debt on its books. There are a few challenges in terms of setting up a wide distribution presence amidst well established players, its skewed market presence in South India especially Kerala and rich valuations at a PE of 140x compared to sector average of 95x. Therefore, investors can subscribe to Indigo Paints for listing gains only at the moment."

  • Jan 19, 2021 11:48 (IST)

    Apollo Hospital outlook

    Yash Gupta Equity Research Associate, Angel Broking said,"Apollo Hospital will conduct a meeting of the Fund Raising Committee of the Company on January 22,2021 to consider and determine the issue price of Equity Shares to be issued pursuant to the QlP, including any discount on the floor price calculated in accordance with Securities and Exchange Board of India i.e. Rs 2508.58. As per the market news indicative price band is of Rs 2457-2511 per equity share, indicative discount to closing price of Rs 2607 at 3.77% to 5.84%."



    Company raising capital to acquire a stake in one of the hospitals and to repay certain debt, stock has rallied more than 15% in this month. We expect the stock to correct from its closing price of ₹2607.


     

  • 11:48 IST: Yash Gupta Equity Research Associate, Angel Broking said,"Apollo Hospital will conduct a meeting of the Fund Raising Committee of the Company on January 22,2021 to consider and determine the issue price of Equity Shares to be issued pursuant to the QlP, including any discount on the floor price calculated in accordance with Securities and Exchange Board of India i.e. Rs 2508.58. As per the market news indicative price band is of Rs 2457-2511 per equity share, indicative discount to closing price of Rs 2607 at 3.77% to 5.84%."



    Company raising capital to acquire a stake in one of the hospitals and to repay certain debt, stock has rallied more than 15% in this month. We expect the stock to correct from its closing price of ₹2607.


     

  • Jan 19, 2021 11:38 (IST)

    GAIL India outlook

    Yash Gupta Equity Research Associate, Angel Broking said," GAIL India announced buyback of 1.55% of paid up equity share capital at Rs 150. The board of the company has approved the buyback of 6,97,56,641 fully paid up equity shares of Face value of Rs 10 each, representing 1.55% of the total number of fully paid-up equity shares in the paid-up share capital of the Company from the shareholders of the Company at a price of Rs 150. Total buyback size is Rs 1,046.35 crore. This is very positive news for GAIL India as well as for PSU, as now PSU companies are also looking for buyback of their own stocks as market valuations are very low. Short term investors can buy stock at current market price of Rs 137.75 and tender their shares in buy back. Even we expect a heavy dividend from the company in a couple of months. So this is a good opportunity for retail investors to earn dividends as well as to apply for buyback at a premium of 8.89%."

  • 11:38 IST: Yash Gupta Equity Research Associate, Angel Broking said," GAIL India announced buyback of 1.55% of paid up equity share capital at Rs 150. The board of the company has approved the buyback of 6,97,56,641 fully paid up equity shares of Face value of Rs 10 each, representing 1.55% of the total number of fully paid-up equity shares in the paid-up share capital of the Company from the shareholders of the Company at a price of Rs 150. Total buyback size is Rs 1,046.35 crore. This is very positive news for GAIL India as well as for PSU, as now PSU companies are also looking for buyback of their own stocks as market valuations are very low. Short term investors can buy stock at current market price of Rs 137.75 and tender their shares in buy back. Even we expect a heavy dividend from the company in a couple of months. So this is a good opportunity for retail investors to earn dividends as well as to apply for buyback at a premium of 8.89%."

  • Jan 19, 2021 11:26 (IST)

    Mindtree Q3 results

    Mindtree, now a Larsen & Toubro group company, on Monday reported a 65.7 per cent jump in consolidated net profit to Rs 326.5 crore for the third quarter ended December 31, 2020 as against Rs 197 crore in the corresponding period last year. On the quarter-on-quarter basis, the profit grew by 28.7 per cent from Rs 253.7 crore in September quarter of the current fiscal.

    The consolidated revenue rose marginally by 3 per cent to Rs 2,023.7 crore in Q3 FY21 from Rs 1,965.3 crore in the year-ago period, Mindtree said in a regulatory filing. The consolidated revenue stood at Rs 1,926 crore in September quarter of 2020.  

    In dollar terms, its net profit was up 59.3 per cent YoY at $44.2 million, while revenue declined 0.4 per cent YoY to $274.1 million in Q3 FY21 over the year-ago period.  

    Mindtree Q3 results: Net profit surges 66% to Rs 326.5 crore; revenue up 3%

  • 11:26 IST: Mindtree, now a Larsen & Toubro group company, on Monday reported a 65.7 per cent jump in consolidated net profit to Rs 326.5 crore for the third quarter ended December 31, 2020 as against Rs 197 crore in the corresponding period last year. On the quarter-on-quarter basis, the profit grew by 28.7 per cent from Rs 253.7 crore in September quarter of the current fiscal.

    The consolidated revenue rose marginally by 3 per cent to Rs 2,023.7 crore in Q3 FY21 from Rs 1,965.3 crore in the year-ago period, Mindtree said in a regulatory filing. The consolidated revenue stood at Rs 1,926 crore in September quarter of 2020.  

    In dollar terms, its net profit was up 59.3 per cent YoY at $44.2 million, while revenue declined 0.4 per cent YoY to $274.1 million in Q3 FY21 over the year-ago period.  

    Mindtree Q3 results: Net profit surges 66% to Rs 326.5 crore; revenue up 3%

  • Jan 19, 2021 11:09 (IST)

    Escort stock outlook

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Escorts Ltd got certification from Central Farm Machinery Training and Testing Institute, Budni for its Electric Tractor. Escorts started export of these tractors in 2019 and now with this certification, will be launching in the domestic market too. We are positive on this development, which would help the company to gain market share in the domestic market. Hence, we are positive on stock."

  • 11:09 IST: Amarjeet Maurya - AVP - Mid Caps, Angel Broking said,"Escorts Ltd got certification from Central Farm Machinery Training and Testing Institute, Budni for its Electric Tractor. Escorts started export of these tractors in 2019 and now with this certification, will be launching in the domestic market too. We are positive on this development, which would help the company to gain market share in the domestic market. Hence, we are positive on stock."

  • Jan 19, 2021 10:54 (IST)

    Market update: Indices rise further

    Reversing from yesterday's lows, market benchmarks traded majorly positive on Tuesday, amid tracking cues from positive global equities. Sensex added 558 points today to 49,122 and Nifty gained by 170 points to 14,450.

  • 10:54 IST: Reversing from yesterday's lows, market benchmarks traded majorly positive on Tuesday, amid tracking cues from positive global equities. Sensex added 558 points today to 49,122 and Nifty gained by 170 points to 14,450.

  • Jan 19, 2021 10:51 (IST)

    Nureca gets SEBI's approval for Rs 100 crore IPO

    Nureca Ltd, which owns the Dr Trust brand, has received capital markets watchdog Sebi's go ahead to raise Rs 100 crore through an initial public offering. The IPO comprises issuance of equity shares worth Rs 100 crore, a draft red herring prospectus filed with Securities and Exchange Board of India (Sebi) showed.

    The company, which had filed its preliminary papers with Sebi in November, obtained its observations on January 11, an update with the capital markets regulator showed on Monday.

    Sebi's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.

    Nureca gets SEBI's approval for Rs 100 crore IPO

  • 10:51 IST: Nureca Ltd, which owns the Dr Trust brand, has received capital markets watchdog Sebi's go ahead to raise Rs 100 crore through an initial public offering. The IPO comprises issuance of equity shares worth Rs 100 crore, a draft red herring prospectus filed with Securities and Exchange Board of India (Sebi) showed.

    The company, which had filed its preliminary papers with Sebi in November, obtained its observations on January 11, an update with the capital markets regulator showed on Monday.

    Sebi's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.

    Nureca gets SEBI's approval for Rs 100 crore IPO

  • Jan 19, 2021 10:43 (IST)

    Stocks in news: Mindtree, Indiabulls Real Estate, Maruti, YES Bank, RBL Bank, L&T Finance



    Stocks to watch today on January 19: Mindtree, Indiabulls Real Estate, Maruti, YES Bank, RBL Bank, L&T Finance among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: Mindtree, Indiabulls Real Estate, Maruti, YES Bank, RBL Bank, L&T Finance

  • 10:43 IST:

    Stocks to watch today on January 19: Mindtree, Indiabulls Real Estate, Maruti, YES Bank, RBL Bank, L&T Finance among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: Mindtree, Indiabulls Real Estate, Maruti, YES Bank, RBL Bank, L&T Finance

  • Jan 19, 2021 10:37 (IST)

    Indigo Paints IPO outlook

    LKP Securities said in its note," 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."

  • 10:37 IST: LKP Securities said in its note," 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."

  • Jan 19, 2021 10:33 (IST)

    Market opening outlook and view

    On markets opening -Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," Although we have opened with a gap up, I would be wary of going long immediately. The Nifty has a resistance around the 14550-14600 levels. If we can conquer that, we should be headed to 14900. Until then there is every possibility to go down to levels closer to 14100 and then 14000."
     

  • 10:33 IST: On markets opening -Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," Although we have opened with a gap up, I would be wary of going long immediately. The Nifty has a resistance around the 14550-14600 levels. If we can conquer that, we should be headed to 14900. Until then there is every possibility to go down to levels closer to 14100 and then 14000."
     

  • Jan 19, 2021 10:25 (IST)

    Morning view on the market

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The major positive development for markets today is the Treasury Secretary-elect Janet Yellen's comment on the need for 'big stimulus'. Further big stimulus along with the huge liquidity created by the unprecedented monetary stimulus can keep markets buoyant; but there is a risk of bubble valuations with its vulnerability to sharp corrections, even crashes. Meanwhile, midcaps have turned weak and strong large-caps like HDFC bank  & RIL have become strong. High delivery based buying in these stocks indicate their improving prospects."

     

  • 10:25 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The major positive development for markets today is the Treasury Secretary-elect Janet Yellen's comment on the need for 'big stimulus'. Further big stimulus along with the huge liquidity created by the unprecedented monetary stimulus can keep markets buoyant; but there is a risk of bubble valuations with its vulnerability to sharp corrections, even crashes. Meanwhile, midcaps have turned weak and strong large-caps like HDFC bank  & RIL have become strong. High delivery based buying in these stocks indicate their improving prospects."

     

  • Jan 19, 2021 10:19 (IST)

    Global markets


    Geojit Financial in its report said," Overseas, Asian stocks traded mixed on Tuesday as investors await remarks from U.S. President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen.

    On the coronavirus front, the head of the World Health Organization warned Monday of a “catastrophic moral failure” due to unfair vaccine rollouts.

    The U.S. stock market was closed on Monday in honor of Martin Luther King Jr. Day."

  • 10:19 IST:
    Geojit Financial in its report said," Overseas, Asian stocks traded mixed on Tuesday as investors await remarks from U.S. President-elect Joe Biden's nominee for Treasury secretary, Janet Yellen.

    On the coronavirus front, the head of the World Health Organization warned Monday of a “catastrophic moral failure” due to unfair vaccine rollouts.

    The U.S. stock market was closed on Monday in honor of Martin Luther King Jr. Day."

  • Jan 19, 2021 10:05 (IST)

    Nifty outlook for the day

    Reliance Research in its report said," NSE-NIFTY begun week on a negative note and slipped to 7-day closing low. Yesterday, the index remained in pressure during the day amidst negative global cues and weakness across the board. Due to consecutive decline in the index, major technical indicators on the near-term timeframe chart tested their oversold zone. Hence, near-term rebound cannot be ruled out. On the higher side, the index will face hurdles at around 14,500-level initially and 14,653-level subsequently. In case of further decline, the index will find support at around 14,100-level.

    As for the day, support is placed at around 14,183 and then at 14,085 levels, while resistance is observed at 14,419 and then at 14,557 levels."

  • 10:05 IST: Reliance Research in its report said," NSE-NIFTY begun week on a negative note and slipped to 7-day closing low. Yesterday, the index remained in pressure during the day amidst negative global cues and weakness across the board. Due to consecutive decline in the index, major technical indicators on the near-term timeframe chart tested their oversold zone. Hence, near-term rebound cannot be ruled out. On the higher side, the index will face hurdles at around 14,500-level initially and 14,653-level subsequently. In case of further decline, the index will find support at around 14,100-level.

    As for the day, support is placed at around 14,183 and then at 14,085 levels, while resistance is observed at 14,419 and then at 14,557 levels."

  • Jan 19, 2021 09:55 (IST)

    Indiamart Q3 outlook

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," During the 3QFY21, Indiamart reported revenue of ~Rs174cr (up ~5% YoY). On the EBITDA front, the company has reported Rs88cr and EBITDA margin at 51% (improved by 2,414 bps yoy). On the bottom-line front, PAT increased to Rs80cr in the current quarter from Rs62cr in the same period in the previous year. Overall the company has reported health financial numbers."
     

  • 09:55 IST: Amarjeet Maurya - AVP - Mid Caps, Angel Broking said," During the 3QFY21, Indiamart reported revenue of ~Rs174cr (up ~5% YoY). On the EBITDA front, the company has reported Rs88cr and EBITDA margin at 51% (improved by 2,414 bps yoy). On the bottom-line front, PAT increased to Rs80cr in the current quarter from Rs62cr in the same period in the previous year. Overall the company has reported health financial numbers."
     

  • Jan 19, 2021 09:34 (IST)

    Nifty technical outlook

    Ajit Mishra, VP - Research, Religare Broking Ltd said," The news of fresh COVID cases in China has spooked the markets across the globe including India as participants are worried about global economic recovery. At the same time, we’re seeing a noticeable rise in volatility on the domestic front too, thanks to the prevailing earnings season. Amid all, we reiterate our positive yet cautious view and suggest focusing more on stock selection and risk management. On the index front, Nifty has critical support at 14,100."


     

  • 09:34 IST: Ajit Mishra, VP - Research, Religare Broking Ltd said," The news of fresh COVID cases in China has spooked the markets across the globe including India as participants are worried about global economic recovery. At the same time, we’re seeing a noticeable rise in volatility on the domestic front too, thanks to the prevailing earnings season. Amid all, we reiterate our positive yet cautious view and suggest focusing more on stock selection and risk management. On the index front, Nifty has critical support at 14,100."


     

  • Jan 19, 2021 09:27 (IST)

    FII action

    Foreign portfolio investors (FPIs) bought shares worth Rs 650.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 42.51 crore in the Indian equity market on 18 January, provisional data showed.


     

  • 09:27 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 650.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 42.51 crore in the Indian equity market on 18 January, provisional data showed.


     

  • Jan 19, 2021 09:23 (IST)

    Opening session

    Market indices opened on a bullish note on Tuesday, amid mixed global equities. Sensex added 450 points today to 49,015 and Nifty gained by 120 points to 14,402.

  • 09:23 IST: Market indices opened on a bullish note on Tuesday, amid mixed global equities. Sensex added 450 points today to 49,015 and Nifty gained by 120 points to 14,402.

  • Jan 19, 2021 09:14 (IST)

    Earnings today

    ICICI Lombard General Insurance Company, Alembic Pharma, Ceat, CSB Bank, DCM Shriram, L&T Infotech, Skipper, Tata Communications, Tata Metaliks, Tata Steel BSL, Gateway Distriparks, Hatsun Agro Product, HT Media, JSW Ispat Special Products, Bank of Maharashtra, Mold-Tek Packaging, Network18 Media & Investments, Roselabs Finance, TV18 Broadcast, Vardhman Special Steels, Raghav Productivity Enhancers, Shree Ganesh Biotech, Wardwizard Innovations & Mobility, Add-Shop ERetail, AVI Polymers and Bigbloc Construction among others will report Q3 earnings today

     

  • 09:14 IST: ICICI Lombard General Insurance Company, Alembic Pharma, Ceat, CSB Bank, DCM Shriram, L&T Infotech, Skipper, Tata Communications, Tata Metaliks, Tata Steel BSL, Gateway Distriparks, Hatsun Agro Product, HT Media, JSW Ispat Special Products, Bank of Maharashtra, Mold-Tek Packaging, Network18 Media & Investments, Roselabs Finance, TV18 Broadcast, Vardhman Special Steels, Raghav Productivity Enhancers, Shree Ganesh Biotech, Wardwizard Innovations & Mobility, Add-Shop ERetail, AVI Polymers and Bigbloc Construction among others will report Q3 earnings today

     

  • Jan 19, 2021 09:04 (IST)

    Nifty technical support and resistance

    Expressing views on Nifty's technical outlook, Ashis Biswas, head of Technical research at CapitalVia Global Research Limited said," The market manages to hold above the Nifty 50 Index support zone of 14170-14230. The technical factors are aligned to support a range-bound market movement in the coming week. Therefore, the short-term traders should use the rally to exit while buying any dip toward the support level around 14170-14230 (considered best practice in a volatile market). The market breadth to deteriorate, indicating a likelihood of higher volatility."

  • 09:04 IST: Expressing views on Nifty's technical outlook, Ashis Biswas, head of Technical research at CapitalVia Global Research Limited said," The market manages to hold above the Nifty 50 Index support zone of 14170-14230. The technical factors are aligned to support a range-bound market movement in the coming week. Therefore, the short-term traders should use the rally to exit while buying any dip toward the support level around 14170-14230 (considered best practice in a volatile market). The market breadth to deteriorate, indicating a likelihood of higher volatility."

  • Jan 19, 2021 09:03 (IST)

    Rupee Closing

    On the currency front, Indian rupee plunged 21 paise to end at 73.28 against the dollar index that traded near one-month high on risk aversion.  On Friday, the rupee had slipped 3 paise to end at 73.07 per dollar today, tracking weakness in equities and strong US currency. Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"Support is at 72.95 - 72.80 levels for the spot pair. Resistance for the pair is 73.20. USDINR Jan future will trade in the range of 73.05 - 73.25 levels."

     

  • 09:03 IST: On the currency front, Indian rupee plunged 21 paise to end at 73.28 against the dollar index that traded near one-month high on risk aversion.  On Friday, the rupee had slipped 3 paise to end at 73.07 per dollar today, tracking weakness in equities and strong US currency. Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research said,"Support is at 72.95 - 72.80 levels for the spot pair. Resistance for the pair is 73.20. USDINR Jan future will trade in the range of 73.05 - 73.25 levels."

     

  • Jan 19, 2021 09:02 (IST)

    Closing session on Monday

    Market indices reversed trend and closed 1% lower on Monday, amid heavy selling pressure in metal and realty stocks, taking cues from weak global equities. Extending fall for the second straight session, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281.

  • 09:02 IST: Market indices reversed trend and closed 1% lower on Monday, amid heavy selling pressure in metal and realty stocks, taking cues from weak global equities. Extending fall for the second straight session, Sensex ended 470 points lower at 48,564 and Nifty fell by 152 points to 14,281.