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Share Market Highlights: Sensex ends at record high, Nifty at 14,563; Bajaj twins, TCS, RIL, L&T top gainers

January 12,2021 18:21 IST

Sensex, Nifty LIVE Updates on January 12: Market indices continued hitting record highs for the third straight session and ended on a bullish note on Tuesday, amid mixed global equities. Sensex ended 247 points higher at 49,517 and Nifty gained by 78 points to 14,563. In today's session, Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Yesterday, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

 

 

 

 

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: Markets traded lower today after the RBI in its Financial Stability Report said that PSU banks are likely to be under strain and expressed concern about high potential NPAs of the banking system which may rise above 14%.
  • Jan 12, 2021 15:58 (IST)

    Closing

    Market indices continued hitting record highs for the third straight session and ended on a bullish note on Tuesday, amid mixed global equities. Sensex ended 247 points higher at 49,517 and Nifty gained by 78 points to 14,563.

  • 15:58 IST: Market indices continued hitting record highs for the third straight session and ended on a bullish note on Tuesday, amid mixed global equities. Sensex ended 247 points higher at 49,517 and Nifty gained by 78 points to 14,563.

  • Jan 12, 2021 15:33 (IST)

    YES Bank share rises 3%, here's why

    YES Bank share price was trading marginally higher on Tuesday, amid a rally in banking and financial index, in line with broader indices Sensex and Nifty that continued hitting record highs.

    Reversing from yesterday's losses, the stock of private lender opened lower at Rs 17.80 against its previous close of Rs 17.95 today. The stock gained 3% to hit the day's high of Rs 18.50 on BSE. The stock also hit an intraday low of Rs 17.60.

    YES Bank among other listed companies was re-classified as large-cap stocks in the semi-annual Association of Mutual Funds in India (AMFI) review in the first week of January 2021, which will be effective for the February-to-July 2021 period.

    YES Bank share rises 3%, here's why

  • 15:33 IST: YES Bank share price was trading marginally higher on Tuesday, amid a rally in banking and financial index, in line with broader indices Sensex and Nifty that continued hitting record highs.

    Reversing from yesterday's losses, the stock of private lender opened lower at Rs 17.80 against its previous close of Rs 17.95 today. The stock gained 3% to hit the day's high of Rs 18.50 on BSE. The stock also hit an intraday low of Rs 17.60.

    YES Bank among other listed companies was re-classified as large-cap stocks in the semi-annual Association of Mutual Funds in India (AMFI) review in the first week of January 2021, which will be effective for the February-to-July 2021 period.

    YES Bank share rises 3%, here's why

  • Jan 12, 2021 15:13 (IST)

    Why DLF share price rose 13% today

    Shares of DLF rallied nearly 13 per cent in intraday trade to hit record high of Rs 277.8 on the Bombay Stock Exchange on Tuesday amid strong volume. Analysts have turned bullish on realty stocks, such as Godrej Properties and DLF, citing demand revival and shifting consumer preferences in wake of COVID-19 pandemic.

    Brokerage firm Jefferies has projected that residential sales may cross 2019 levels and prices will rise over 10 per cent over next two years. It expects inventory to fall to 8-year low by end of 2021. The brokerage firm has selected Godrej Properties and DLF as top picks in the real estate sector.

    Why DLF share price rose 13% today

  • 15:13 IST: Shares of DLF rallied nearly 13 per cent in intraday trade to hit record high of Rs 277.8 on the Bombay Stock Exchange on Tuesday amid strong volume. Analysts have turned bullish on realty stocks, such as Godrej Properties and DLF, citing demand revival and shifting consumer preferences in wake of COVID-19 pandemic.

    Brokerage firm Jefferies has projected that residential sales may cross 2019 levels and prices will rise over 10 per cent over next two years. It expects inventory to fall to 8-year low by end of 2021. The brokerage firm has selected Godrej Properties and DLF as top picks in the real estate sector.

    Why DLF share price rose 13% today

  • Jan 12, 2021 15:02 (IST)

    RVNL outlook



    Way to Wealth in its note gave BUY  Recommendation to Rail Vikas Nigam Ltd. (RVNL) at range of 20-25 and a Target of 35-38 and ssaid,"Strong Execution track record with Revenue CAGR of 36% and earnings CAGR of 31% over FY15-20. RoE doubled to 19.2% in FY20 from 7.9% in FY15. Focus intact even during COVID-19 crisis and turned it into opportunity by completing pending work and increasing its share in civil works. Highest order book of `822.5bn with limited slow-moving projects, providing strong revenue visibility. New lines and doubling projects form 80% of order book (are relatively high-ticket size projects compared to electrification and gauge conversion). Out of this order book, 56% is a firm order and execution is in progress providing visibility of 2.5x of TTM revenue."

  • 15:02 IST:

    Way to Wealth in its note gave BUY  Recommendation to Rail Vikas Nigam Ltd. (RVNL) at range of 20-25 and a Target of 35-38 and ssaid,"Strong Execution track record with Revenue CAGR of 36% and earnings CAGR of 31% over FY15-20. RoE doubled to 19.2% in FY20 from 7.9% in FY15. Focus intact even during COVID-19 crisis and turned it into opportunity by completing pending work and increasing its share in civil works. Highest order book of `822.5bn with limited slow-moving projects, providing strong revenue visibility. New lines and doubling projects form 80% of order book (are relatively high-ticket size projects compared to electrification and gauge conversion). Out of this order book, 56% is a firm order and execution is in progress providing visibility of 2.5x of TTM revenue."

  • Jan 12, 2021 14:41 (IST)

    TCS Q3 outlook



    Phillips Capital in its report said," TCS reported strong results, beating expectations. USD revenue grew +4.1% CC qoq while margins expanded +40bps qoq (despite wage hike) – both significantly ahead of estimates. The dealflow at $6.8bn was tad weak qoq (still up +13% yoy) – mainly due to last quarter number boosted by the large Standard Life deal ($2.6bn). The management commentary was highly positive and it appeared confident of strong growth in near to medium term, often comparing the current cloud migration drive to the ERP wave of the last decade. The strong growth and bright outlook provide us the confidence in double digit growth in near term, while the margin expansion in this quarter make its aspirational band (26-28%) appear achievable. We continue to believe that TCS is one company which can emerge stronger out of this crisis, bouncing back strongly in FY22. Valuations (at 26x FY23 PE) might appear expensive (relatively) – but we expect TCS to continue to command valuation premium to its peers, on the back of its strong diversified profile, superior return profile (ROE of 38%), management stability and market leadership position. Maintain BUY."

     

  • 14:41 IST:

    Phillips Capital in its report said," TCS reported strong results, beating expectations. USD revenue grew +4.1% CC qoq while margins expanded +40bps qoq (despite wage hike) – both significantly ahead of estimates. The dealflow at $6.8bn was tad weak qoq (still up +13% yoy) – mainly due to last quarter number boosted by the large Standard Life deal ($2.6bn). The management commentary was highly positive and it appeared confident of strong growth in near to medium term, often comparing the current cloud migration drive to the ERP wave of the last decade. The strong growth and bright outlook provide us the confidence in double digit growth in near term, while the margin expansion in this quarter make its aspirational band (26-28%) appear achievable. We continue to believe that TCS is one company which can emerge stronger out of this crisis, bouncing back strongly in FY22. Valuations (at 26x FY23 PE) might appear expensive (relatively) – but we expect TCS to continue to command valuation premium to its peers, on the back of its strong diversified profile, superior return profile (ROE of 38%), management stability and market leadership position. Maintain BUY."

     

  • Jan 12, 2021 14:26 (IST)

    RBL Bank outlook

    CLSA in its research report said,"We expect RBL to deliver 13% ROE by FY23CL as credit costs normalise post-Covid, with the ability to leverage up further (~15% Tier-1 in FY23CL). Valuations at 1.0x Sep-22 book appear undemanding and hence we initiate with a BUY rating. The consolidation of corporate book growth is providing the bank an opportunity to work on its liability franchise, and delivery on liabilities will be key to further rerating. Our Mar-22 target of Rs330 is based on the residual income method, implying 1.3x Dec-22 book. We initiate coverage on RBL Bank with a BUY rating and Rs330 target price, which implies 38% upside."

  • 14:26 IST: CLSA in its research report said,"We expect RBL to deliver 13% ROE by FY23CL as credit costs normalise post-Covid, with the ability to leverage up further (~15% Tier-1 in FY23CL). Valuations at 1.0x Sep-22 book appear undemanding and hence we initiate with a BUY rating. The consolidation of corporate book growth is providing the bank an opportunity to work on its liability franchise, and delivery on liabilities will be key to further rerating. Our Mar-22 target of Rs330 is based on the residual income method, implying 1.3x Dec-22 book. We initiate coverage on RBL Bank with a BUY rating and Rs330 target price, which implies 38% upside."

  • Jan 12, 2021 14:23 (IST)

    Market update

    Market indices reversed trend and continued hitting record highs for the third straight session on Tuesday, amid mixed global equities. Sensex traded 200 points higher at 49,442 and Nifty gained by 75 points to 14,560. In today's session, Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Yesterday, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

  • 14:23 IST: Market indices reversed trend and continued hitting record highs for the third straight session on Tuesday, amid mixed global equities. Sensex traded 200 points higher at 49,442 and Nifty gained by 75 points to 14,560. In today's session, Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Yesterday, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

  • Jan 12, 2021 14:12 (IST)

    SEBI, CCI at odds over jurisdiction of rating agencies

    The Securities and Exchange Board of India (SEBI) has asked the Competition Commission of India (CCI) not to consider a complaint filed by ratings agency Brickworks, which moved the competition watchdog alleging price gouging by its peers.

    In what seems to be a fight over the jurisdiction of credit rating agencies, CCI ruled out SEBI's dissension on the grounds that it is well within its authority to probe anti-trust practices.

    "SEBI stated that for any alleged violation of these regulations (CRA Regulations), SEBI is the regulatory authority to examine the allegations and take appropriate action, if any, required. Therefore, as per SEBI, the present information may not be entertained by the Commission," CCI said in an order dated December 29, the Economic Times reported.

    SEBI, CCI at odds over jurisdiction of rating agencies

  • 14:12 IST: The Securities and Exchange Board of India (SEBI) has asked the Competition Commission of India (CCI) not to consider a complaint filed by ratings agency Brickworks, which moved the competition watchdog alleging price gouging by its peers.

    In what seems to be a fight over the jurisdiction of credit rating agencies, CCI ruled out SEBI's dissension on the grounds that it is well within its authority to probe anti-trust practices.

    "SEBI stated that for any alleged violation of these regulations (CRA Regulations), SEBI is the regulatory authority to examine the allegations and take appropriate action, if any, required. Therefore, as per SEBI, the present information may not be entertained by the Commission," CCI said in an order dated December 29, the Economic Times reported.

    SEBI, CCI at odds over jurisdiction of rating agencies

  • Jan 12, 2021 13:40 (IST)

    Rupee slips 4 paise to 73.44

    Indian rupee, the domestic currency plunged 4 paise to 73.44 against the US dollar in opening trade on Tuesday, tracking weak Asian currencies, rebound in American currency and muted domestic equities.

    The domestic unit opened at 73.42 per dollar at the interbank forex market and fell by 4 paise to 73.44 against the greenback over its previous close. On Monday, the rupee fell 16 paise to end at 73.40 against the US dollar.

    Reliance Securities said in a research note,"Weak Asian currencies could continue to weigh on sentiment. However, foreign portfolio investor (FPI) flows into the domestic equity markets could cap losses. US dollar index extended gains this Tuesday morning in Asian trade against major peers as the prospect of massive fiscal stimulus pushed US yields higher."

    Rupee slips 4 paise to 73.44 amid strong US dollar, weak Asian currencies

  • 13:40 IST: Indian rupee, the domestic currency plunged 4 paise to 73.44 against the US dollar in opening trade on Tuesday, tracking weak Asian currencies, rebound in American currency and muted domestic equities.

    The domestic unit opened at 73.42 per dollar at the interbank forex market and fell by 4 paise to 73.44 against the greenback over its previous close. On Monday, the rupee fell 16 paise to end at 73.40 against the US dollar.

    Reliance Securities said in a research note,"Weak Asian currencies could continue to weigh on sentiment. However, foreign portfolio investor (FPI) flows into the domestic equity markets could cap losses. US dollar index extended gains this Tuesday morning in Asian trade against major peers as the prospect of massive fiscal stimulus pushed US yields higher."

    Rupee slips 4 paise to 73.44 amid strong US dollar, weak Asian currencies

  • Jan 12, 2021 13:18 (IST)

    Market update

    In a volatile trading session, market indices reversed trend on Tuesday and traded tad higher, tracking weakness from mixed global equities. Sensex and Nifty were trading higher by 30 points each. Earlier at opening bell, Sensex traded 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Yesterday, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

  • 13:18 IST: In a volatile trading session, market indices reversed trend on Tuesday and traded tad higher, tracking weakness from mixed global equities. Sensex and Nifty were trading higher by 30 points each. Earlier at opening bell, Sensex traded 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Yesterday, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

  • Jan 12, 2021 13:16 (IST)

    Top gainers and losers

    Reliance Industries, L&T, Bharti Airtel, ITC, Bajaj Finserv and TCS were among the gainers on the Sensex chart.


    On the other hand, IndusInd Bank was the top loser, shedding around 2 per cent, followed by Kotak Bank, Titan, Asian Paints, Bajaj Auto, Tech Mahindra and HDFC.

     

  • 13:16 IST: Reliance Industries, L&T, Bharti Airtel, ITC, Bajaj Finserv and TCS were among the gainers on the Sensex chart.


    On the other hand, IndusInd Bank was the top loser, shedding around 2 per cent, followed by Kotak Bank, Titan, Asian Paints, Bajaj Auto, Tech Mahindra and HDFC.

     

  • Jan 12, 2021 13:07 (IST)

    Nifty Outlook




    Geojit Financial Services said in its note," Bullish patterns are aplenty, giving confidence towards continuation of uptrend, aiming 15200. Meanwhile, a potential for a rise in volatility discussed yesterday, may have to be weighed in on the approach of 14540."

  • 13:07 IST:


    Geojit Financial Services said in its note," Bullish patterns are aplenty, giving confidence towards continuation of uptrend, aiming 15200. Meanwhile, a potential for a rise in volatility discussed yesterday, may have to be weighed in on the approach of 14540."

  • Jan 12, 2021 12:52 (IST)

    India Internet sector outlook

    Manik Taneja from JM Financial Institutional Securities Limited said,"Naukri’s Dec’20 Jobspeak index indicates a 14% MoM increase in recruitment activity, a rebound compared to slightly negative to flattish trends in the previous two months. Sequential hiring trends improved across all major sectors such as Auto & auto ancillary, Oil & Gas/Power/Infrastructure, Construction/Engineering/Cement/Metals, BFSI, IT and ITeS. Despite recent recovery trends, we note that the overall hiring situation continues to remain weak on a YoY basis/versus Jan’20 levels (-10%/-17%, respectively). Similarweb’s desktop & mobile web data also indicates boadly positive sequential traffic growth trends in Dec’20. In classifieds businesses, sequential traffic growth was up 7% in Naukri (Indeed continues to be a major drag though). Similarly, monthly traffic grew 16%/7%/3% in Real estate, Matrimonials and B2B/B2B2C classifieds businesses, respectively. Sectors in which sequential traffic trends improved in Dec’20 include – Financial services (+40%), Ed-tech (+14%), Travel-tech (+12%) and Food delivery (+6%). On the other hand, sectors in which monthly traffic trends were negative were E-commerce (-8%) and Grocery delivery (-2%)."

  • 12:52 IST: Manik Taneja from JM Financial Institutional Securities Limited said,"Naukri’s Dec’20 Jobspeak index indicates a 14% MoM increase in recruitment activity, a rebound compared to slightly negative to flattish trends in the previous two months. Sequential hiring trends improved across all major sectors such as Auto & auto ancillary, Oil & Gas/Power/Infrastructure, Construction/Engineering/Cement/Metals, BFSI, IT and ITeS. Despite recent recovery trends, we note that the overall hiring situation continues to remain weak on a YoY basis/versus Jan’20 levels (-10%/-17%, respectively). Similarweb’s desktop & mobile web data also indicates boadly positive sequential traffic growth trends in Dec’20. In classifieds businesses, sequential traffic growth was up 7% in Naukri (Indeed continues to be a major drag though). Similarly, monthly traffic grew 16%/7%/3% in Real estate, Matrimonials and B2B/B2B2C classifieds businesses, respectively. Sectors in which sequential traffic trends improved in Dec’20 include – Financial services (+40%), Ed-tech (+14%), Travel-tech (+12%) and Food delivery (+6%). On the other hand, sectors in which monthly traffic trends were negative were E-commerce (-8%) and Grocery delivery (-2%)."

  • Jan 12, 2021 12:40 (IST)

    Market hits new high

    In today's session, Sensex and Nifty hit new lifetime highs of 49,370 and 14,525, respectively.

  • 12:40 IST: In today's session, Sensex and Nifty hit new lifetime highs of 49,370 and 14,525, respectively.

  • Jan 12, 2021 12:40 (IST)

    RIL earnings recovery to follow petchem bounce back in Q3: Analysts



    As oil giants struggle across geographies due to subdued demand, Reliance Industries (RIL) looks up for a bounce back in its oil and chemicals business with improved earnings from petrochemicals. Analysts expect recovery in RIL's overall earnings in the October-December quarter though refinery earnings remain flat.

    Morgan Stanley said in its research report, "We expect RIL to report a 14 per cent quarter-on-quarter (QoQ) rise in EBIDTA and a 16 per cent QoQ recovery in earnings (though 5 per cent lower year-on-year), two-thirds of which to be driven by a recovery in petrochemicals EBIDTA, which we estimate will rise 26 per cent QoQ (4 per cent YoY)."

    RIL earnings recovery to follow petchem bounce back in Q3: Analysts

  • 12:40 IST:

    As oil giants struggle across geographies due to subdued demand, Reliance Industries (RIL) looks up for a bounce back in its oil and chemicals business with improved earnings from petrochemicals. Analysts expect recovery in RIL's overall earnings in the October-December quarter though refinery earnings remain flat.

    Morgan Stanley said in its research report, "We expect RIL to report a 14 per cent quarter-on-quarter (QoQ) rise in EBIDTA and a 16 per cent QoQ recovery in earnings (though 5 per cent lower year-on-year), two-thirds of which to be driven by a recovery in petrochemicals EBIDTA, which we estimate will rise 26 per cent QoQ (4 per cent YoY)."

    RIL earnings recovery to follow petchem bounce back in Q3: Analysts

  • Jan 12, 2021 12:30 (IST)

    Centre places orders for 6 crore COVID-19 vaccine doses from SII, Bharat Biotech

    The government on Monday placed firm orders in advanced commitments for over 6 crore doses of COVID vaccine from SII and Bharat Biotech for inoculating 3 crore healthcare and frontline workers in the first phase of the vaccination drive scheduled to start from January 16, together which will cost Rs 1,300 crore.

    Sources said the government has placed an order to Bharat Biotech for 55 lakh doses costing Rs 162 crore. The government placed a purchase order with Serum Institute of India (SII) for 1.1 crore doses of Oxford COVID-19 vaccine, Covishield, each costing Rs 210, including the GST, and committed to buy 4.5 crore more by April, together amounting to over Rs 1,100 crore, sources said.

    COVID-19 vaccine: Centre places orders for 6 crore doses from SII, Bharat Biotech

  • 12:30 IST: The government on Monday placed firm orders in advanced commitments for over 6 crore doses of COVID vaccine from SII and Bharat Biotech for inoculating 3 crore healthcare and frontline workers in the first phase of the vaccination drive scheduled to start from January 16, together which will cost Rs 1,300 crore.

    Sources said the government has placed an order to Bharat Biotech for 55 lakh doses costing Rs 162 crore. The government placed a purchase order with Serum Institute of India (SII) for 1.1 crore doses of Oxford COVID-19 vaccine, Covishield, each costing Rs 210, including the GST, and committed to buy 4.5 crore more by April, together amounting to over Rs 1,100 crore, sources said.

    COVID-19 vaccine: Centre places orders for 6 crore doses from SII, Bharat Biotech

  • Jan 12, 2021 12:26 (IST)

    Global cues

    Markets came off the record highs and traded steady this morning. Political tensions rose as House of Democrats moved a resolution to impeach US president Donald Trump. Further, investors grew cautious regarding as rising coronavirus cases in many countries weighed as vaccination drive accelerates.

     

  • 12:26 IST: Markets came off the record highs and traded steady this morning. Political tensions rose as House of Democrats moved a resolution to impeach US president Donald Trump. Further, investors grew cautious regarding as rising coronavirus cases in many countries weighed as vaccination drive accelerates.

     

  • Jan 12, 2021 12:07 (IST)

    Banking sectpor outlook

     JM Financial Institutional Securities said,"We are positive on Indian banks given a) cyclical reflation in economic activity from dire straits seen in CY20; b) stronger balance sheets given provision buffers and capital positions. Larger players will see consolidation of market share gains driven by a) improving liability franchises and b) structural efficiencies emanating out of higher digital adoption. While headline asset quality will marginally deteriorate from 2Q21 levels, we believe it will be a recognition of existing stress (created during CY20 lockdowns) rather than fresh stress formation. Hence, as this recognition plays out, we do not see material negative reaction as long as current provision buffers are sufficient enough to absorb the impact. Growth upturn, efficiency extraction and thus market share gains remain the key monitorable hereon and should drive stock returns. Valuations have bounced back and growth improvement will ensure valuations sustain. Growth and profitability leaders are our preferred plays (HDFC Bank, ICICI Bank, Bandhan Bank), and we selectively like beneficiaries of cyclical improvement that are inexpensive (IndusInd Bank, SBI). PSU banks are one of the “oases of cheap valuations” and are a favorable cyclical play after years of underperformance. A “double-dip” in economic activity and sharper than expected stress are key risks to our view."


     

  • 12:07 IST:  JM Financial Institutional Securities said,"We are positive on Indian banks given a) cyclical reflation in economic activity from dire straits seen in CY20; b) stronger balance sheets given provision buffers and capital positions. Larger players will see consolidation of market share gains driven by a) improving liability franchises and b) structural efficiencies emanating out of higher digital adoption. While headline asset quality will marginally deteriorate from 2Q21 levels, we believe it will be a recognition of existing stress (created during CY20 lockdowns) rather than fresh stress formation. Hence, as this recognition plays out, we do not see material negative reaction as long as current provision buffers are sufficient enough to absorb the impact. Growth upturn, efficiency extraction and thus market share gains remain the key monitorable hereon and should drive stock returns. Valuations have bounced back and growth improvement will ensure valuations sustain. Growth and profitability leaders are our preferred plays (HDFC Bank, ICICI Bank, Bandhan Bank), and we selectively like beneficiaries of cyclical improvement that are inexpensive (IndusInd Bank, SBI). PSU banks are one of the “oases of cheap valuations” and are a favorable cyclical play after years of underperformance. A “double-dip” in economic activity and sharper than expected stress are key risks to our view."


     

  • Jan 12, 2021 11:53 (IST)

    Market wealth zooms past Rs 196 lakh crore as Sensex approaches 50k

    Market cap of BSE-listed firms rose to a record Rs 196.56 lakh crore after IT stocks took the benchmark indices to record highs today.  Investor wealth rose by Rs 90,468 crore with Sensex gearing up to scale the key 50K mark. On Monday, indices closed 1% higher each with Sensex topping 49,000 mark for the first time and Nifty nearing 15K mark. While Sensex ended 486 points higher at 49,269, Nifty gained 137 points to 14,484.

    Market wealth zooms past Rs 196 lakh crore as Sensex approaches 50k

  • 11:53 IST: Market cap of BSE-listed firms rose to a record Rs 196.56 lakh crore after IT stocks took the benchmark indices to record highs today.  Investor wealth rose by Rs 90,468 crore with Sensex gearing up to scale the key 50K mark. On Monday, indices closed 1% higher each with Sensex topping 49,000 mark for the first time and Nifty nearing 15K mark. While Sensex ended 486 points higher at 49,269, Nifty gained 137 points to 14,484.

    Market wealth zooms past Rs 196 lakh crore as Sensex approaches 50k

  • Jan 12, 2021 11:43 (IST)

    Tata Motors share rises 10%

    Tata Motors share rose 10% in early trade today after the company highlighted signs of recovery as sales in China remained strong in Q3. Share of Tata Motors hit upper circuit of 10%  to Rs 242.10 against previous close of Rs 220.10 on BSE.

    Market cap of the firm rose to Rs 74,784 crore. The large cap stock has gained 31.22% in the last 8 days. The stock opened with a gain of 3.95% at Rs 228.80.

    Tata Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    The share has gained 23.27% in one year and risen 31.79% since the beginning of this year. In a month, the stock has gained 35.4%.

    Why Tata Motors share rose 10% in early trade today

  • 11:43 IST: Tata Motors share rose 10% in early trade today after the company highlighted signs of recovery as sales in China remained strong in Q3. Share of Tata Motors hit upper circuit of 10%  to Rs 242.10 against previous close of Rs 220.10 on BSE.

    Market cap of the firm rose to Rs 74,784 crore. The large cap stock has gained 31.22% in the last 8 days. The stock opened with a gain of 3.95% at Rs 228.80.

    Tata Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

    The share has gained 23.27% in one year and risen 31.79% since the beginning of this year. In a month, the stock has gained 35.4%.

    Why Tata Motors share rose 10% in early trade today

  • Jan 12, 2021 11:40 (IST)

    Cement & Building Materials results preview




    Reliance Research said in its note, "As per our channel check, volume of the organized tiles manufacturers witnessed sharp improvement on the back of opening up of export markets and sustained domestic demand mainly aided by pick-up in demand in affordable housing segment in Tier-II and Tier-III cities. Additionally, shift of consumers’ preference towards organized and branded players has also aided the volume performance of the organized players. We expect sales volume of Kajaria Ceramics and Somany Ceramics to increase by ~11.5% YoY and ~12.8% YoY, respectively. Further, stable realization, low gas prices and improved utilization are likely to help the companies to register double-digit growth in profitability.  

    Our View: Cement industry is expected to see healthy demand traction in 4QFY21E and FY22E mainly led by sustained improvement in construction and real estate activities. Strong demand from rural markets led by favourable monsoon, visible traction in real estate demand and governments’ persistent focus on expediting infrastructure activities are likely to remain the key tailwinds for the industry. However, sharp rise in fuel prices and absence of price hikes could be near-to-medium-term concerns for the industry. UltraTech Cement, JK Cement and JK Lakshmi Cement continue to remain our preferred picks.

    Our top results picks are UltraTech, Ramco Cements, Shree Cement and JK Cement."

  • 11:40 IST:


    Reliance Research said in its note, "As per our channel check, volume of the organized tiles manufacturers witnessed sharp improvement on the back of opening up of export markets and sustained domestic demand mainly aided by pick-up in demand in affordable housing segment in Tier-II and Tier-III cities. Additionally, shift of consumers’ preference towards organized and branded players has also aided the volume performance of the organized players. We expect sales volume of Kajaria Ceramics and Somany Ceramics to increase by ~11.5% YoY and ~12.8% YoY, respectively. Further, stable realization, low gas prices and improved utilization are likely to help the companies to register double-digit growth in profitability.  

    Our View: Cement industry is expected to see healthy demand traction in 4QFY21E and FY22E mainly led by sustained improvement in construction and real estate activities. Strong demand from rural markets led by favourable monsoon, visible traction in real estate demand and governments’ persistent focus on expediting infrastructure activities are likely to remain the key tailwinds for the industry. However, sharp rise in fuel prices and absence of price hikes could be near-to-medium-term concerns for the industry. UltraTech Cement, JK Cement and JK Lakshmi Cement continue to remain our preferred picks.

    Our top results picks are UltraTech, Ramco Cements, Shree Cement and JK Cement."

  • Jan 12, 2021 10:20 (IST)

    Stocks in news: GAIL, Tata Motors, Dr Reddy, M&M, HUL, Force Motors, Sunteck Realty



    Stocks to watch today on January 12:  GAIL, Tata Motors, Dr Reddy, M&M, HUL, Force Motors, Sunteck Realty among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: GAIL, Tata Motors, Dr Reddy, M&M, HUL, Force Motors, Sunteck Realty

  • 10:20 IST:

    Stocks to watch today on January 12:  GAIL, Tata Motors, Dr Reddy, M&M, HUL, Force Motors, Sunteck Realty among others are the top stocks to watch out for in Tuesday's trading session

    Stocks in news: GAIL, Tata Motors, Dr Reddy, M&M, HUL, Force Motors, Sunteck Realty

  • Jan 12, 2021 10:17 (IST)

    Global markets today

    Asian markets are steady this morning as US markets came off the record highs. Malaysia declared state of emergency in the country due to rise in covid-19 cases. US markets came off the record highs as investors grew cautious regarding regulations being tied to Tech stocks. House of Democrats moved a resolution to impeach Donald Trump. European markets closed lower as rising coronavirus cases in many EU countries weighed as vaccination drive accelerates.

  • 10:17 IST: Asian markets are steady this morning as US markets came off the record highs. Malaysia declared state of emergency in the country due to rise in covid-19 cases. US markets came off the record highs as investors grew cautious regarding regulations being tied to Tech stocks. House of Democrats moved a resolution to impeach Donald Trump. European markets closed lower as rising coronavirus cases in many EU countries weighed as vaccination drive accelerates.

  • Jan 12, 2021 09:53 (IST)

    Market opening session outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets are feeling toppish at 14500. While we feel the Nifty can go up to 14600, traders should exercise caution and book profits at regular intervals. We have a good support at 14200-14250 levels. On an intraday basis if we can keep above 14500, we should be able to achieve 14600 sooner than later.

  • 09:53 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets are feeling toppish at 14500. While we feel the Nifty can go up to 14600, traders should exercise caution and book profits at regular intervals. We have a good support at 14200-14250 levels. On an intraday basis if we can keep above 14500, we should be able to achieve 14600 sooner than later.

  • Jan 12, 2021 09:51 (IST)

    Automobile & Auto Ancillary results preview

    Reliance Research said in its report," We expect the automobile industry volume to witness steady improvement across the segment in FY22E, while strong YoY improvement would be seen in 4QFY21E due to low base. We expect volume to continue to get benefited from strong rural economy amid healthy agri output and favorable monsoon along with recovering urban markets. From this level, we believe that CV segment would outperform the industry, while within the very segment, M&HCV would stage strong bounce back with ~150% YoY growth in FY22E. Therefore, we remain constructive on the automobile sector and remain very positive on M&HCV segment within auto space. 

    We expect Bajaj Auto (BAL) to report double-digit PAT growth due to strong exports, favourable exchange rate and effective tax rate (ETR). We also expect Mahindra & Mahindra (MM) and Escorts (ESC) to deliver decent performance due to better tractor volume. We except Hero MotoCorp (HMCL), Apollo Tyres (APTY) and Bharat Forge (BHFC) to report lower double-digit growth in net profit in 3QFY21, while Maruti Suzuki (MSIL) and CEAT are expected to report higher growth in net profit due to better rural traction. All other companies within our coverage universe like TTMT, Ashok Leyland (ALL), JK Tyre (JKTL) and RK Forgings (RKFL) are expected to report healthy double-digit growth in net profit. TTMT is expected to report Rs32bn net profit (vs. Rs6bn net loss in 2QFY21) due to JLR’s strong sales performance across geographies. While TTMT is expected to see sizable financial improvement on account of margin improvement at JLR, noticeable improvement in standalone CV volume and healthy PV sales at India operations would also result in healthy operating margin for the standalone entity as well."
     

  • 09:51 IST: Reliance Research said in its report," We expect the automobile industry volume to witness steady improvement across the segment in FY22E, while strong YoY improvement would be seen in 4QFY21E due to low base. We expect volume to continue to get benefited from strong rural economy amid healthy agri output and favorable monsoon along with recovering urban markets. From this level, we believe that CV segment would outperform the industry, while within the very segment, M&HCV would stage strong bounce back with ~150% YoY growth in FY22E. Therefore, we remain constructive on the automobile sector and remain very positive on M&HCV segment within auto space. 

    We expect Bajaj Auto (BAL) to report double-digit PAT growth due to strong exports, favourable exchange rate and effective tax rate (ETR). We also expect Mahindra & Mahindra (MM) and Escorts (ESC) to deliver decent performance due to better tractor volume. We except Hero MotoCorp (HMCL), Apollo Tyres (APTY) and Bharat Forge (BHFC) to report lower double-digit growth in net profit in 3QFY21, while Maruti Suzuki (MSIL) and CEAT are expected to report higher growth in net profit due to better rural traction. All other companies within our coverage universe like TTMT, Ashok Leyland (ALL), JK Tyre (JKTL) and RK Forgings (RKFL) are expected to report healthy double-digit growth in net profit. TTMT is expected to report Rs32bn net profit (vs. Rs6bn net loss in 2QFY21) due to JLR’s strong sales performance across geographies. While TTMT is expected to see sizable financial improvement on account of margin improvement at JLR, noticeable improvement in standalone CV volume and healthy PV sales at India operations would also result in healthy operating margin for the standalone entity as well."
     

  • Jan 12, 2021 09:48 (IST)

    Market outlook

    Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said," Two important  developments are: bond yields rising in the US and the dollar index again rising above 90. Both these are negatives from the emerging market perspective, but FII inflows continue to be robust, pushing markets higher.

    Meanwhile the RBI in its Financial Stability Report expressed concern about high potential NPAs of the banking system which may rise above 14%. PSU banks are likely to be under strain. The well capitalized large private sector banks are strong and are likely to gain from the woes of the PSU banks."

  • 09:48 IST: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said," Two important  developments are: bond yields rising in the US and the dollar index again rising above 90. Both these are negatives from the emerging market perspective, but FII inflows continue to be robust, pushing markets higher.

    Meanwhile the RBI in its Financial Stability Report expressed concern about high potential NPAs of the banking system which may rise above 14%. PSU banks are likely to be under strain. The well capitalized large private sector banks are strong and are likely to gain from the woes of the PSU banks."

  • Jan 12, 2021 09:46 (IST)

    Market technical outlook

    Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said,"The second week of the new calendar year started with a good bump up at fresh record high tad below the 14500 mark. The gravity defying move continues and although, it has turned into a bit of euphoria, markets are not willing to give any correction at all. Only god knows when it's going to happen, but till then it's better to participate through stock centric approach by following a money as well as risk management. As a technician, it's becoming tougher day by day to project upward levels as we are located in an uncharted territory. Beyond 14500, next psychological level would come around 14600 and on the flipside, 14350 - 14300 becomes the immediate support. We reiterate that even if one remains with the flow, avoid becoming complacent and too aggressive. Hence, as a short term trader, it's advisable not to create leveraged positions."

  • 09:46 IST: Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said,"The second week of the new calendar year started with a good bump up at fresh record high tad below the 14500 mark. The gravity defying move continues and although, it has turned into a bit of euphoria, markets are not willing to give any correction at all. Only god knows when it's going to happen, but till then it's better to participate through stock centric approach by following a money as well as risk management. As a technician, it's becoming tougher day by day to project upward levels as we are located in an uncharted territory. Beyond 14500, next psychological level would come around 14600 and on the flipside, 14350 - 14300 becomes the immediate support. We reiterate that even if one remains with the flow, avoid becoming complacent and too aggressive. Hence, as a short term trader, it's advisable not to create leveraged positions."

  • Jan 12, 2021 09:40 (IST)

    Global markets in red today

    Overseas, Asian stocks were trading mixed on Tuesday after shares on Wall Street pulled back overnight from all-time highs.

    US stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.

    Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week. Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on January 20.

  • 09:40 IST: Overseas, Asian stocks were trading mixed on Tuesday after shares on Wall Street pulled back overnight from all-time highs.

    US stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.

    Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week. Multiple Cabinet-level officials have quit since the riot, with President-elect Joe Biden set to be inaugurated on January 20.

  • Jan 12, 2021 09:20 (IST)

    FII data

    Foreign portfolio investors (FPIs) bought shares worth Rs 3,138.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,610.13 crore in the Indian equity market on 11 January, provisional data showed.


     

  • 09:20 IST: Foreign portfolio investors (FPIs) bought shares worth Rs 3,138.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,610.13 crore in the Indian equity market on 11 January, provisional data showed.


     

  • Jan 12, 2021 09:19 (IST)

    Opening session

    In a volatile trading session, market indices reversed trend on Tuesday and opened lower after two straight sessions, in line with weak global equities. Sensex traded 80 points lower at 48,093 and Nifty fell by 8 points to 14,137.

  • 09:19 IST: In a volatile trading session, market indices reversed trend on Tuesday and opened lower after two straight sessions, in line with weak global equities. Sensex traded 80 points lower at 48,093 and Nifty fell by 8 points to 14,137.

  • Jan 12, 2021 09:16 (IST)

    Rupee outlook

    On the currency front, Indian rupee, the domestic currency plunged 16 paise to end at 73.40 against US dollar, tracking weak Asian currencies and rebound in American currency.

    Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said," We are witnessing a reversal in the dollar index, while political stability in the U.S. and the probability of a further fiscal stimulus package has pushed the long-term U.S. yields higher. Moreover, there is a possibility that the Fed may reduce its bond-buying plan towards the end of this year, which could further push U.S. yields higher and consequently hurt the rupee. Back home, with RBI mopping up dollar inflows, the local currency can test 73.80 to 74 levels in the coming sessions. We expect the rupee to trade in a broad range of 73 to 74.20 levels for the rest of this month."

  • 09:16 IST: On the currency front, Indian rupee, the domestic currency plunged 16 paise to end at 73.40 against US dollar, tracking weak Asian currencies and rebound in American currency.

    Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said," We are witnessing a reversal in the dollar index, while political stability in the U.S. and the probability of a further fiscal stimulus package has pushed the long-term U.S. yields higher. Moreover, there is a possibility that the Fed may reduce its bond-buying plan towards the end of this year, which could further push U.S. yields higher and consequently hurt the rupee. Back home, with RBI mopping up dollar inflows, the local currency can test 73.80 to 74 levels in the coming sessions. We expect the rupee to trade in a broad range of 73 to 74.20 levels for the rest of this month."

  • Jan 12, 2021 09:16 (IST)

    Nifty technical outlook

    Reliance Research said in its note," NSE-NIFTY begun week on a strong note as the index recorded new high of 14,498-level. Yesterday, positive global cues and strength across frontline major supported the up-move. IT and Auto space remained in focus with positive momentum. Major technical indicators are in favour of bulls. Reiterating our bullish stance on the index, we believe that undergoing positive momentum will continue. This could lead the index towards 14,650-level. In case of decline, the index will find support at 14,250 level initially and 14,100 mark subsequently.

    As for the day, support is placed at around 14,413 and then at 14,340 levels, while resistance is observed at 14,528 and then at 14,570 levels."
     

  • 09:16 IST: Reliance Research said in its note," NSE-NIFTY begun week on a strong note as the index recorded new high of 14,498-level. Yesterday, positive global cues and strength across frontline major supported the up-move. IT and Auto space remained in focus with positive momentum. Major technical indicators are in favour of bulls. Reiterating our bullish stance on the index, we believe that undergoing positive momentum will continue. This could lead the index towards 14,650-level. In case of decline, the index will find support at 14,250 level initially and 14,100 mark subsequently.

    As for the day, support is placed at around 14,413 and then at 14,340 levels, while resistance is observed at 14,528 and then at 14,570 levels."
     

  • Jan 12, 2021 09:15 (IST)

    Closing on Monday

    Rising for the second straight session, benchmark indices continued scaling record highs and closed 1% higher each on Monday, with Sensex topping 49,000 mark for the first time and Nifty nearing 15K mark. Tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.

  • 09:15 IST: Rising for the second straight session, benchmark indices continued scaling record highs and closed 1% higher each on Monday, with Sensex topping 49,000 mark for the first time and Nifty nearing 15K mark. Tracking gains in IT stocks amid largely positive trend in global equities and massive FPI inflows, Sensex ended 486 points higher at 49,269 and Nifty gained by 137 points to 14,484.