Business Today
Loading...

Share Market Highlights: Sensex ends 80 points lower, Nifty at 14,137; RIL, TCS, Maruti, NTPC top losers

January 08,2021 10:22 IST

Sensex, Nifty Highlights on January 7: In a volatile trading session, market indices reversed trend on Thursday and closed lower for the second straight session, in line with weak global equities.

 

Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Yesterday, Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. During the last session, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244.

 

 

Check Latest Updates

  • Maruti, Axis Bank, Airtel, HDFC twins, M&M, ONGC, Bajaj twins, SBI, L&T were among the gainers. On the other hand, HUL, Reddy, Infosys, TCS and Titan were among the top losers today.
  • Jan 08, 2021 10:19 (IST)

    Nifty Outlook






    Volatility remained the dominant theme yesterday as expected, but a directional move may be in line today, once 14280 gives away. The next objective of 14440-14540 may take a few days to materialize though, and until then collapse theories may be kept at bay. However, 14040/14000 region will be crucial to such a play.

  • 10:19 IST:




    Volatility remained the dominant theme yesterday as expected, but a directional move may be in line today, once 14280 gives away. The next objective of 14440-14540 may take a few days to materialize though, and until then collapse theories may be kept at bay. However, 14040/14000 region will be crucial to such a play.

  • Jan 07, 2021 15:43 (IST)

    Closing

    In a volatile trading session, market indices reversed trend on Thursday and closed lower for the second straight session, in line with weak global equities. Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Yesterday, Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. During the last session, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244.

  • 15:43 IST: In a volatile trading session, market indices reversed trend on Thursday and closed lower for the second straight session, in line with weak global equities. Sensex ended 80 points lower at 48,093 and Nifty fell by 8 points to 14,137. Yesterday, Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. During the last session, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244.

  • Jan 07, 2021 15:38 (IST)

    Bandhan Bank share price rises over 3%





    Bandhan Bank shares were trading 3% higher on Thursday morning on the BSE after the private lender said that its loans and advances grew by 23% YoY to Rs 80,255 crore in the third quarter of the current fiscal. The bank's total deposits during the quarter increased by 30% to Rs 71,188 crore as against Rs 54,908 crore in the corresponding period last year.


    Stock of Bandhan Bank opened 2.36% higher at Rs 405.50 against its previous close of Rs 396.15 today. The stock gained 3.36% to hit the day's high of Rs 410.85 on BSE. Although, the stock later erased gains to hit an intraday low of Rs 17.85 during early trade.
     

  • 15:38 IST:



    Bandhan Bank shares were trading 3% higher on Thursday morning on the BSE after the private lender said that its loans and advances grew by 23% YoY to Rs 80,255 crore in the third quarter of the current fiscal. The bank's total deposits during the quarter increased by 30% to Rs 71,188 crore as against Rs 54,908 crore in the corresponding period last year.


    Stock of Bandhan Bank opened 2.36% higher at Rs 405.50 against its previous close of Rs 396.15 today. The stock gained 3.36% to hit the day's high of Rs 410.85 on BSE. Although, the stock later erased gains to hit an intraday low of Rs 17.85 during early trade.
     

  • Jan 07, 2021 15:11 (IST)

    WTI Crude price outlook

    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Wednesday, WTI Crude prices surged about 1.4 percent closing at $50.6 per barrel after Saudi Arabia vowed to make additional output cuts which outpaced the bleak demand outlook and pushed prices higher. Saudi Arabia, a major Oil producers, announced additional production cuts of one million barrels per day (bpd) in February’20 and March’20. The move was initiated to keep production steady with new pandemic triggered restrictions kicking in. Prices were further supported after the Energy Information Administration reported an 8 million barrels drop in the US crude inventory levels last week of the year. However, alarming increase in the number of infected cases leading to stricter curbs in many nations dampened the demand outlook for Crude and pushed the prices lower.
     

    Depleting inventories and hopes over improvement in demand considering the additional stimulus by US might support Oil prices. On the MCX, oil prices are expected to trade lower today. As for today can go for buy in mcx crude oil at 3700 levels with the stop loss of 3630 levels and for the target of 3800 levels. We expect WTI crude oil may test $55 to $58 levels very soon."

  • 15:11 IST: Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," On Wednesday, WTI Crude prices surged about 1.4 percent closing at $50.6 per barrel after Saudi Arabia vowed to make additional output cuts which outpaced the bleak demand outlook and pushed prices higher. Saudi Arabia, a major Oil producers, announced additional production cuts of one million barrels per day (bpd) in February’20 and March’20. The move was initiated to keep production steady with new pandemic triggered restrictions kicking in. Prices were further supported after the Energy Information Administration reported an 8 million barrels drop in the US crude inventory levels last week of the year. However, alarming increase in the number of infected cases leading to stricter curbs in many nations dampened the demand outlook for Crude and pushed the prices lower.
     

    Depleting inventories and hopes over improvement in demand considering the additional stimulus by US might support Oil prices. On the MCX, oil prices are expected to trade lower today. As for today can go for buy in mcx crude oil at 3700 levels with the stop loss of 3630 levels and for the target of 3800 levels. We expect WTI crude oil may test $55 to $58 levels very soon."

  • Jan 07, 2021 15:01 (IST)

    SpiceJet outlook



    Higher cargo and improved pax traffic to reduce losses; Maintain BUY

    Centrum Equity Research said in its report," We estimate net loss of Rs735m for SpiceJet in Q3FY21, lower than net loss of Rs1.1bn in Q2FY21 due to improved traffic, strong cargo performance and fx MTM gain of Rs660m. We expect ASKM/RPKM to decline by 58.1%/ 63.8% yoy with load factor of 77.5% (89.7% in Q3FY20). We estimate 10%yoy increase (up 7.1% qoq) in ticket revenue yield to Rs4.2 with adjusted RASK (ex-freighter and 737 Max claim accrual) at Rs3.9 (-1.4%yoy). We expect EBITDAR to decline 52.4% yoy to Rs3.5bn. Cargo revenues are likely to grow 231% yoy to Rs3.5bn (up 16% qoq) led by increase in freighter operations. SpiceJet currently trades at 9.6x/7.9x FY22/FY23 EBITDAR. We maintain our Buy rating on SpiceJet with a revised TP of Rs120 (based on 8.8x FY23E EBITDAR)."

  • 15:01 IST:

    Higher cargo and improved pax traffic to reduce losses; Maintain BUY

    Centrum Equity Research said in its report," We estimate net loss of Rs735m for SpiceJet in Q3FY21, lower than net loss of Rs1.1bn in Q2FY21 due to improved traffic, strong cargo performance and fx MTM gain of Rs660m. We expect ASKM/RPKM to decline by 58.1%/ 63.8% yoy with load factor of 77.5% (89.7% in Q3FY20). We estimate 10%yoy increase (up 7.1% qoq) in ticket revenue yield to Rs4.2 with adjusted RASK (ex-freighter and 737 Max claim accrual) at Rs3.9 (-1.4%yoy). We expect EBITDAR to decline 52.4% yoy to Rs3.5bn. Cargo revenues are likely to grow 231% yoy to Rs3.5bn (up 16% qoq) led by increase in freighter operations. SpiceJet currently trades at 9.6x/7.9x FY22/FY23 EBITDAR. We maintain our Buy rating on SpiceJet with a revised TP of Rs120 (based on 8.8x FY23E EBITDAR)."

  • Jan 07, 2021 14:52 (IST)

    Market trades tad higher

    Market indices traded on a bullish note on Thursday, amid positive global equities. Reversing from yesterday's trend, Sensex rose 70 points to 48,249 and Nifty was rising by 35 points to 14,180.

  • 14:52 IST: Market indices traded on a bullish note on Thursday, amid positive global equities. Reversing from yesterday's trend, Sensex rose 70 points to 48,249 and Nifty was rising by 35 points to 14,180.

  • Jan 07, 2021 14:23 (IST)

    YES Bank share rises 2% in early trade



    YES Bank shares were trading 2% higher on Thursday morning. Stock of the private lender opened higher at Rs 18.25 against its previous close of Rs 17.95 today. The stock gained 1.9% to hit the day's high of Rs 18.40 on BSE. Although, the stock later erased gains to hit an intraday low of Rs 17.85 during early trade.


    The lender along with five other companies was included in the large-cap stock category by the Association of Mutual Funds in India (Amfi) in its semi-annual review, which will be effective for the February-July period in 2021. The other five stocks which have joined the large-cap club are Gland Pharma Ltd, Adani Enterprises Ltd, PI Industries Ltd, Jubilant Foodworks Ltd and Hindustan Agro.

     

  • 14:23 IST:

    YES Bank shares were trading 2% higher on Thursday morning. Stock of the private lender opened higher at Rs 18.25 against its previous close of Rs 17.95 today. The stock gained 1.9% to hit the day's high of Rs 18.40 on BSE. Although, the stock later erased gains to hit an intraday low of Rs 17.85 during early trade.


    The lender along with five other companies was included in the large-cap stock category by the Association of Mutual Funds in India (Amfi) in its semi-annual review, which will be effective for the February-July period in 2021. The other five stocks which have joined the large-cap club are Gland Pharma Ltd, Adani Enterprises Ltd, PI Industries Ltd, Jubilant Foodworks Ltd and Hindustan Agro.

     

  • Jan 07, 2021 14:11 (IST)

    IndiGo outlook



    Q3 loss to narrow led by improved traffic; downgrade stock to ADD from BUY as valuations cap near term upside

    Centrum Equity Research said in ite report," We estimate net loss of Rs6.3bn for IndiGo in Q3FY21, lower than net loss of Rs12bn in Q2FY21, led by improved traffic and cost saving measures. Our estimates build-in fx MTM gain of Rs2bn on operating leases in Q3 led by 70ps appreciation in INR against the USD. We expect ASKM/RPKM to decline by 41.4%/ 52.2% yoy with load factor of 71.4% (87.6% in Q3FY20). We expect ticket revenue yield to improve 4%yoy (up 5.1% qoq) to Rs4 but RASK to decline 14.2% yoy due to 1620 bps yoy decline in load factor. EBITDAR is likely to decline 49.3% yoy to Rs9.9bn.

    We expect continued recovery in air traffic in Q4FY21/FY22 leading to improved earnings and cashflows for IndiGo. However, after 36% up-move in the stock over 3 months (71% over 6 months) valuations at 11x/9.6x FY22/FY23 EBITDAR cap further upside in the near term. We downgrade our recommendation to Add from Buy with revised price target of Rs1848 by Mar-22 (based on 10x FY23E EBITDAR). Faster recovery, especially in international traffic, would be an upside to our estimate."

  • 14:11 IST:

    Q3 loss to narrow led by improved traffic; downgrade stock to ADD from BUY as valuations cap near term upside

    Centrum Equity Research said in ite report," We estimate net loss of Rs6.3bn for IndiGo in Q3FY21, lower than net loss of Rs12bn in Q2FY21, led by improved traffic and cost saving measures. Our estimates build-in fx MTM gain of Rs2bn on operating leases in Q3 led by 70ps appreciation in INR against the USD. We expect ASKM/RPKM to decline by 41.4%/ 52.2% yoy with load factor of 71.4% (87.6% in Q3FY20). We expect ticket revenue yield to improve 4%yoy (up 5.1% qoq) to Rs4 but RASK to decline 14.2% yoy due to 1620 bps yoy decline in load factor. EBITDAR is likely to decline 49.3% yoy to Rs9.9bn.

    We expect continued recovery in air traffic in Q4FY21/FY22 leading to improved earnings and cashflows for IndiGo. However, after 36% up-move in the stock over 3 months (71% over 6 months) valuations at 11x/9.6x FY22/FY23 EBITDAR cap further upside in the near term. We downgrade our recommendation to Add from Buy with revised price target of Rs1848 by Mar-22 (based on 10x FY23E EBITDAR). Faster recovery, especially in international traffic, would be an upside to our estimate."

  • Jan 07, 2021 14:04 (IST)

    Bird flu effect: Venky's (India), Simran Farms shares fall

    Stocks of poultry companies Venky's (India) and Simran Farms fell up to 5% in early trade today after reports of bird flu emerged from four states-Kerala, Rajasthan, Himachal Pradesh, and Madhya Pradesh. Share of Simran Farms opened 4.95% lower at Rs 55.7 and was stuck in lower circuit of 5% in afternoon session. The share saw only sellers and no buyers. The stock has lost 19.62% in the last 5 days.

    Market cap of the firm fell to Rs 21 crore on BSE. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. The stock has gained 39% in one year and fallen 19.62% since the beginning of this year.

    Bird flu effect: Venky's (India), Simran Farms shares fall up to 5% in early trade

  • 14:04 IST: Stocks of poultry companies Venky's (India) and Simran Farms fell up to 5% in early trade today after reports of bird flu emerged from four states-Kerala, Rajasthan, Himachal Pradesh, and Madhya Pradesh. Share of Simran Farms opened 4.95% lower at Rs 55.7 and was stuck in lower circuit of 5% in afternoon session. The share saw only sellers and no buyers. The stock has lost 19.62% in the last 5 days.

    Market cap of the firm fell to Rs 21 crore on BSE. The share trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. The stock has gained 39% in one year and fallen 19.62% since the beginning of this year.

    Bird flu effect: Venky's (India), Simran Farms shares fall up to 5% in early trade

  • Jan 07, 2021 13:57 (IST)

    IDFC Bank share rises over 7%


    IDFC First Bank shares were trading 7.68% higher on Thursday after the lender reported rise in Retail deposits of the Bank by 100% Y-o-Y and 18% Q-o-Q.

    IDFC First Bank reportd a 41% increase in customer deposits in the third quarter of the fiscal, to Rs 77,289 crore as on 31 December 2020 from Rs.54,631 crore as on 31 December 2019 , it said in a regulatory filing. This was up 11% QoQ from Rs 69,368 crore as on 30 September 2020.

    Retail Deposits (CASA and Term Deposits) of the Bank increased 100% YoY to Rs 58,435 crore as on 31 December 2020 from Rs 29,267 crore as on 31 December 2019 and 18% QoQ from 49,610 crore as on 30 September 2020.

    The IDFC First Bank stock opened with a gain of 5.08% today at Rs 43.45 and later rose by 7.13% to an intraday high of Rs 44.3 on BSE. the stock also hit an intraday low of Rs 42.35 as against the last closing vlaue of Rs 41.35. The stock has risen 19.1% in the last 6 days.

  • 13:57 IST:
    IDFC First Bank shares were trading 7.68% higher on Thursday after the lender reported rise in Retail deposits of the Bank by 100% Y-o-Y and 18% Q-o-Q.

    IDFC First Bank reportd a 41% increase in customer deposits in the third quarter of the fiscal, to Rs 77,289 crore as on 31 December 2020 from Rs.54,631 crore as on 31 December 2019 , it said in a regulatory filing. This was up 11% QoQ from Rs 69,368 crore as on 30 September 2020.

    Retail Deposits (CASA and Term Deposits) of the Bank increased 100% YoY to Rs 58,435 crore as on 31 December 2020 from Rs 29,267 crore as on 31 December 2019 and 18% QoQ from 49,610 crore as on 30 September 2020.

    The IDFC First Bank stock opened with a gain of 5.08% today at Rs 43.45 and later rose by 7.13% to an intraday high of Rs 44.3 on BSE. the stock also hit an intraday low of Rs 42.35 as against the last closing vlaue of Rs 41.35. The stock has risen 19.1% in the last 6 days.

  • Jan 07, 2021 13:31 (IST)

    Banking sector outlook



    Centrum Equity Research said in its note," Loan growth for our large cap banks may be 2.0% QoQ (0.9% last quarter) mainly led by ICICI and Axis Bank. NIM might decline by 10bps QoQ to 3.7% led by pass thru of lower deposit cost. Other income may dip sequentially due to lower treasury gains and fee income. Hence PPoP may fall by 5.6% QoQ to Rs319bn. CE that reached 97% in Sep’20 has improved marginally. Led by higher recoveries and asset recognition standstill, GNPA ratio might sequentially decline from 5.5% to 5.4% though provisions may remain elevated as recognition is yet to begin. PAT may contract by 17.5% QoQ to Rs86.7bn. For mid-cap banks loan growth may be healthy at 2.3% QoQ (1.0% in Q2FY21) led by Federal and CUBK though NIM could decline by 20bps QoQ to 3.5%. Lower treasury gains, slight opex spike and NIM fall may result in a depressed PPoP. CE that was 90-95% in Sep’20 may further enhance. However lower provisions for Federal Bank might protect overall PAT, which might decline by 8.6% QoQ to Rs6.1bn. Ujjivan SFB might see low AuM growth due to controlled MFI disbursements though positive trends in opex and deposits are expected to continue.

    "For financers stress could be postponed to Q1FY22E though its magnitude would depend on sustainability of higher CE. Prefer ICICI Bank in large-caps as buffer provisions and strong CAR provide comfort. Among mid-caps we like Federal Bank and Ujjivan SFB as improvement in collections is yet to fully translate into better valuations," the report added.

  • 13:31 IST:

    Centrum Equity Research said in its note," Loan growth for our large cap banks may be 2.0% QoQ (0.9% last quarter) mainly led by ICICI and Axis Bank. NIM might decline by 10bps QoQ to 3.7% led by pass thru of lower deposit cost. Other income may dip sequentially due to lower treasury gains and fee income. Hence PPoP may fall by 5.6% QoQ to Rs319bn. CE that reached 97% in Sep’20 has improved marginally. Led by higher recoveries and asset recognition standstill, GNPA ratio might sequentially decline from 5.5% to 5.4% though provisions may remain elevated as recognition is yet to begin. PAT may contract by 17.5% QoQ to Rs86.7bn. For mid-cap banks loan growth may be healthy at 2.3% QoQ (1.0% in Q2FY21) led by Federal and CUBK though NIM could decline by 20bps QoQ to 3.5%. Lower treasury gains, slight opex spike and NIM fall may result in a depressed PPoP. CE that was 90-95% in Sep’20 may further enhance. However lower provisions for Federal Bank might protect overall PAT, which might decline by 8.6% QoQ to Rs6.1bn. Ujjivan SFB might see low AuM growth due to controlled MFI disbursements though positive trends in opex and deposits are expected to continue.

    "For financers stress could be postponed to Q1FY22E though its magnitude would depend on sustainability of higher CE. Prefer ICICI Bank in large-caps as buffer provisions and strong CAR provide comfort. Among mid-caps we like Federal Bank and Ujjivan SFB as improvement in collections is yet to fully translate into better valuations," the report added.

  • Jan 07, 2021 13:27 (IST)

    HCL Technologies outlook




    Nirali Shah, Senior Research Analyst, Samco Securities said,"  HCL Tech has a track record of excellence with a CAGR growth of 21% in sales in the past 10 years, PAT CAGR of 25%, Stock price CAGR of 23% and average OPMs of over 20% in the same period. In the technology pack, this is a gem of a stock for long term investors to compound wealth. Favorable agro conditions and improved demand outlook, coupled with price hikes and downward trend in costs will benefit the company over the medium-term. Moreover, the management’s focus towards building a strong and innovative product pipeline will further improve UPL’s prospects in the long term. We reiterate our BUY rating on the stock with a revised target price of Rs. 530 based on 11.0x FY22E EPS."

  • 13:27 IST:


    Nirali Shah, Senior Research Analyst, Samco Securities said,"  HCL Tech has a track record of excellence with a CAGR growth of 21% in sales in the past 10 years, PAT CAGR of 25%, Stock price CAGR of 23% and average OPMs of over 20% in the same period. In the technology pack, this is a gem of a stock for long term investors to compound wealth. Favorable agro conditions and improved demand outlook, coupled with price hikes and downward trend in costs will benefit the company over the medium-term. Moreover, the management’s focus towards building a strong and innovative product pipeline will further improve UPL’s prospects in the long term. We reiterate our BUY rating on the stock with a revised target price of Rs. 530 based on 11.0x FY22E EPS."

  • Jan 07, 2021 13:17 (IST)

    Oberoi Realty, Godrej Properties, others rise up to 7%

    Real estate stocks such as Godrej Properties and Oberoi Realty rose up to 7% in early trade today after Maharashtra government on Wednesday gave nod to a proposal to reduce levies on real estate by 50% until December 2021. The move is likely to lead to reduction in prices of houses in the state.

    Reacting to the development, Godrej Properties share climbed 4.5% to Rs 1,527, a fresh 52 week high, against previous close of Rs 1,460. Stock of Indiabulls Real Estate rose 5.86% to Rs 83 in early trade against previous close of Rs 78.40.

    Oberoi Realty, Godrej Properties, others rise up to 7% as Maharashtra cuts levies on realty projects by 50%

  • 13:17 IST: Real estate stocks such as Godrej Properties and Oberoi Realty rose up to 7% in early trade today after Maharashtra government on Wednesday gave nod to a proposal to reduce levies on real estate by 50% until December 2021. The move is likely to lead to reduction in prices of houses in the state.

    Reacting to the development, Godrej Properties share climbed 4.5% to Rs 1,527, a fresh 52 week high, against previous close of Rs 1,460. Stock of Indiabulls Real Estate rose 5.86% to Rs 83 in early trade against previous close of Rs 78.40.

    Oberoi Realty, Godrej Properties, others rise up to 7% as Maharashtra cuts levies on realty projects by 50%

  • Jan 07, 2021 12:56 (IST)

    Axis Bank outlook: Buy



    Geojit Research in its report said," Improved NIM, growth in loans and deposits, comfortable cumulative provisions and stable asset quality should aid growth in the upcoming quarters.Hence, we reiterate our BUY rating on the stock with a revised TP of Rs. 603 based on 1.7x FY22E BVPS. Axis Bank offers a wide range of banking services in India that includes cash and credit management services, retail banking, investment management and treasury services amongst others."

     

  • 12:56 IST:

    Geojit Research in its report said," Improved NIM, growth in loans and deposits, comfortable cumulative provisions and stable asset quality should aid growth in the upcoming quarters.Hence, we reiterate our BUY rating on the stock with a revised TP of Rs. 603 based on 1.7x FY22E BVPS. Axis Bank offers a wide range of banking services in India that includes cash and credit management services, retail banking, investment management and treasury services amongst others."

     

  • Jan 07, 2021 12:49 (IST)

    UPL outlook



    Geojit Research in its report said," Favorable agro conditions and improved demand outlook, coupled with price hikes and downward trend in costs will benefit the company over the medium-term. Moreover, the management’s focus towards building a strong and innovative product pipeline will further improve UPL’s prospects in the long term. We reiterate our BUY rating on the stock with a revised target price of Rs. 530 based on 11.0x FY22E EPS."

  • 12:49 IST:

    Geojit Research in its report said," Favorable agro conditions and improved demand outlook, coupled with price hikes and downward trend in costs will benefit the company over the medium-term. Moreover, the management’s focus towards building a strong and innovative product pipeline will further improve UPL’s prospects in the long term. We reiterate our BUY rating on the stock with a revised target price of Rs. 530 based on 11.0x FY22E EPS."

  • Jan 07, 2021 12:42 (IST)

    Sector wise rally outlook

    Angel Broking in its note said," We expect the broad based rally to continue for now - The rally in the past few months has become broader with more sectors participating in the rally. We expect the rally in cyclical sectors will continue for now given the risk-on environment globally and expect sectors like auto, BFSI, consumer durables and cement will continue to outperform. While we expect cyclical sectors will continue to do well we also continue to remain positive on chemicals, IT and Pharma given strong revenue visibility in these sectors."

  • 12:42 IST: Angel Broking in its note said," We expect the broad based rally to continue for now - The rally in the past few months has become broader with more sectors participating in the rally. We expect the rally in cyclical sectors will continue for now given the risk-on environment globally and expect sectors like auto, BFSI, consumer durables and cement will continue to outperform. While we expect cyclical sectors will continue to do well we also continue to remain positive on chemicals, IT and Pharma given strong revenue visibility in these sectors."

  • Jan 07, 2021 12:39 (IST)

    ITC outlook




    Centrum Equity Research said in its note," We believe, ITC's renewed focus on maintaining cigarette market share, tailwinds for FMCG foods business, strong FCF, high dividend yield and compelling valuations make it more attractive for long term investors. We maintain our estimates and reiterate strong Buy rating with DCF-based Target price of Rs.353, implying 23.6x FY23E EPS. Key risks are sharp increase in any form of taxation."

     

  • 12:39 IST:


    Centrum Equity Research said in its note," We believe, ITC's renewed focus on maintaining cigarette market share, tailwinds for FMCG foods business, strong FCF, high dividend yield and compelling valuations make it more attractive for long term investors. We maintain our estimates and reiterate strong Buy rating with DCF-based Target price of Rs.353, implying 23.6x FY23E EPS. Key risks are sharp increase in any form of taxation."

     

  • Jan 07, 2021 12:35 (IST)

    Gold outlook


    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Democrats winning the U.S. Senate election and additional stimulus which is expected to levy some support for the safe haven, Gold. On the MCX, gold prices are expected to trade higher in today’s session. As for today traders can go for BUY in gold at Rs 50500 levels with the stop loss of Rs 50200 levels for the target   of 51100 levels. They can also go for BUY  in Silver at Rs 69200 levels, with the stop loss of 68400 levels and for the target of 70500 levels.

    The prices were further pressurized after the 10 year US Treasury yield increased above 1 percent after 9 months. Markets betting on the Democrats winning the U.S. Senate runoff elections in Georgia which is expected to improve the economic scenario. However, worsening of the global economic scenario and mounting worries over the new virus strain which was detected in UK also boosted demand for the safe haven, Gold. Expectation of new restrictions in UK, Japan and South Africa amid uncertainties over the global growth prospects pushed Gold prices higher."

     

  • 12:35 IST:
    Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Democrats winning the U.S. Senate election and additional stimulus which is expected to levy some support for the safe haven, Gold. On the MCX, gold prices are expected to trade higher in today’s session. As for today traders can go for BUY in gold at Rs 50500 levels with the stop loss of Rs 50200 levels for the target   of 51100 levels. They can also go for BUY  in Silver at Rs 69200 levels, with the stop loss of 68400 levels and for the target of 70500 levels.

    The prices were further pressurized after the 10 year US Treasury yield increased above 1 percent after 9 months. Markets betting on the Democrats winning the U.S. Senate runoff elections in Georgia which is expected to improve the economic scenario. However, worsening of the global economic scenario and mounting worries over the new virus strain which was detected in UK also boosted demand for the safe haven, Gold. Expectation of new restrictions in UK, Japan and South Africa amid uncertainties over the global growth prospects pushed Gold prices higher."

     

  • Jan 07, 2021 12:27 (IST)

    Quote on Multiplex sector

    Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"The AIADMK government of the Tamil Nadu state has lifted the restrictions on movie theatres occupancy last week, was told to scrap its order by the Ministry of Affairs. Hundred per cent occupancy in movie theatres cannot be allowed yet, the Union home ministry told Tamil Nadu Government. The Union home ministry has so far allowed only 50% occupancy in movie theatres outside containment zones as a part of the phased unlock process.  Thi will impact the box office collection of the Vijay's Film 'Master' to be released on January 13, 2021. So this news was negative for multiplex sector stock such as  PVR & Inox Leisure. This will delay the revival of the industry."

  • 12:27 IST: Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"The AIADMK government of the Tamil Nadu state has lifted the restrictions on movie theatres occupancy last week, was told to scrap its order by the Ministry of Affairs. Hundred per cent occupancy in movie theatres cannot be allowed yet, the Union home ministry told Tamil Nadu Government. The Union home ministry has so far allowed only 50% occupancy in movie theatres outside containment zones as a part of the phased unlock process.  Thi will impact the box office collection of the Vijay's Film 'Master' to be released on January 13, 2021. So this news was negative for multiplex sector stock such as  PVR & Inox Leisure. This will delay the revival of the industry."

  • Jan 07, 2021 11:53 (IST)

    Rupee rises 3 paise to 73.08 amid weak dollar, positive equities

    Indian rupee, the domestic currency appreciated 3 paise to 73.08 per US dollar on Thursday'opening trade, tracking positive domestic equities and weak American currency.

    The domestic unit opened at 73.10 per US dollar and rose 3 paise higher to 73.08 over its previous close.

    Reliance Securities said in a research note,"Most Asian currencies were weak against the greenback this morning and could weigh on sentiments.""Both Democrat candidates have won in the Georgia Senate runoffs. The Democrats now effectively have control of the Senate as well. The President, Senate, House are all Democrat which makes legislation easy to pass," said Abhishek Goenka, Founder and CEO, IFA Global.

    Meanwhile, the dollar index fell 0.14 per cent to 89.40 against a basket of six currencies.

  • 11:53 IST:

    Indian rupee, the domestic currency appreciated 3 paise to 73.08 per US dollar on Thursday'opening trade, tracking positive domestic equities and weak American currency.

    The domestic unit opened at 73.10 per US dollar and rose 3 paise higher to 73.08 over its previous close.

    Reliance Securities said in a research note,"Most Asian currencies were weak against the greenback this morning and could weigh on sentiments.""Both Democrat candidates have won in the Georgia Senate runoffs. The Democrats now effectively have control of the Senate as well. The President, Senate, House are all Democrat which makes legislation easy to pass," said Abhishek Goenka, Founder and CEO, IFA Global.

    Meanwhile, the dollar index fell 0.14 per cent to 89.40 against a basket of six currencies.

  • Jan 07, 2021 11:21 (IST)

    HDFC Bank outlook

    Geojit Financial Services said in its note," HDFC Bank is temporarily restricted from undertaking digital business generation activities and securing new credit card customers, until it addresses IT infrastructure issues that have resulted in outages. However impact should be minimal on its current ongoing operations. On 4th December, RBI kept the rates unchanged for the coming quarter. It also announced strengthening of internal redressal framework for banks for a more efficient complaint resolution of customer complaints. Bank’s fundamentals and asset quality remains strong. We change rating to Hold from BUY with a revised TP of Rs. 1,529 based on 3.8x FY22E BVPS."


     

  • 11:21 IST: Geojit Financial Services said in its note," HDFC Bank is temporarily restricted from undertaking digital business generation activities and securing new credit card customers, until it addresses IT infrastructure issues that have resulted in outages. However impact should be minimal on its current ongoing operations. On 4th December, RBI kept the rates unchanged for the coming quarter. It also announced strengthening of internal redressal framework for banks for a more efficient complaint resolution of customer complaints. Bank’s fundamentals and asset quality remains strong. We change rating to Hold from BUY with a revised TP of Rs. 1,529 based on 3.8x FY22E BVPS."


     

  • Jan 07, 2021 11:18 (IST)

    Nifty outlook




    Yesterday, we had pushed the upside objectives to 14280-14540, with an eye on 14040, with the caveat that volatility is bound to increase. The sudden drop yesterday, turned exactly from 14040 and is bound to have one more go at the first objective of 14280 today. But the conviction towards directional upsides aiming the second target is low today, and volatility is set to have an upper hand.


     

  • 11:18 IST:


    Yesterday, we had pushed the upside objectives to 14280-14540, with an eye on 14040, with the caveat that volatility is bound to increase. The sudden drop yesterday, turned exactly from 14040 and is bound to have one more go at the first objective of 14280 today. But the conviction towards directional upsides aiming the second target is low today, and volatility is set to have an upper hand.


     

  • Jan 07, 2021 11:09 (IST)

    Global markets today


    Asian markets are trading positive taking cues from overnight US markets despite unrest in Washington. Chinese telco stocks fell after US move to suspend trading from Monday.

    US markets gained as investors added more of economically sensitive companies and reduced tech stocks on expectation of bigger govt. spending as results of runoff elections rolled in.

    European markets closed higher as lockdown restrictions due to covid-19 and political developments in US remained key focus points. Banking stocks led gainers pack.

  • 11:09 IST:
    Asian markets are trading positive taking cues from overnight US markets despite unrest in Washington. Chinese telco stocks fell after US move to suspend trading from Monday.

    US markets gained as investors added more of economically sensitive companies and reduced tech stocks on expectation of bigger govt. spending as results of runoff elections rolled in.

    European markets closed higher as lockdown restrictions due to covid-19 and political developments in US remained key focus points. Banking stocks led gainers pack.

  • Jan 07, 2021 11:07 (IST)

    Top gainers and losers

    Maruti, Axis Bank, Airtel, HDFC twins, M&M, ONGC, Bajaj twins, SBI, L&T were among the gainers. On the other hand, HUL, Reddy, Infosys, TCS and Titan were among the top losers today.

     

  • 11:07 IST: Maruti, Axis Bank, Airtel, HDFC twins, M&M, ONGC, Bajaj twins, SBI, L&T were among the gainers. On the other hand, HUL, Reddy, Infosys, TCS and Titan were among the top losers today.

     

  • Jan 07, 2021 10:50 (IST)

    Stake sold in PNC Infratech

     Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Prior to stake sale, CN Infrabuild used to hold 9.95% in the PNC Infratech. Yesterday, CN Infrabuild sold its stake in PNC Infratech at Rs.175 which led to 5% correction in the stock price. Stake was bought by marquee investors such as Goldman Sachs, Nomura, Axis Mutual Fund, BNP Paribas Arbitrage etc. Due to increase in stake by such investors in the company, today PNC Infratech opened up by 4% . We are bullish on the company considering its robust order book, good track record and strong balance sheet." 

  • 10:50 IST:  Keshav Lahoti-Associate Equity Analyst, Angel Broking said,"Prior to stake sale, CN Infrabuild used to hold 9.95% in the PNC Infratech. Yesterday, CN Infrabuild sold its stake in PNC Infratech at Rs.175 which led to 5% correction in the stock price. Stake was bought by marquee investors such as Goldman Sachs, Nomura, Axis Mutual Fund, BNP Paribas Arbitrage etc. Due to increase in stake by such investors in the company, today PNC Infratech opened up by 4% . We are bullish on the company considering its robust order book, good track record and strong balance sheet." 

  • Jan 07, 2021 10:48 (IST)

    Market outlook

    On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"14250 continues to remain a resistance area for the Nifty. If we are able to sustain above that level, our next target should be 14350-14400. A good support currently lies at 13800 so dips or intra day corrections can be utilised to enter the markets for higher targets. Strict stops should be in place as markets can get volatile during corrective moves."

     

  • 10:48 IST: On markets opening --Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"14250 continues to remain a resistance area for the Nifty. If we are able to sustain above that level, our next target should be 14350-14400. A good support currently lies at 13800 so dips or intra day corrections can be utilised to enter the markets for higher targets. Strict stops should be in place as markets can get volatile during corrective moves."

     

  • Jan 07, 2021 10:47 (IST)

    Stocks in news: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti



    Stocks to watch today on January 7: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti

     

  • 10:47 IST:

    Stocks to watch today on January 7: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti among others are the top stocks to watch out for in Thursday's trading session

    Stocks in news: Bandhan Bank, Lupin, TCS, SBI, Wipro, Maruti

     

  • Jan 07, 2021 10:04 (IST)

    Lodha Group plans to file IPO

    Macrotech Developers (formerly Lodha Developers), known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London, is reportedly planning another attempt to launch an initial public offering (IPO). The decision has been taken in the backdrop of recent spurt in residential sales as well as improved investor sentiment and demand.

    This would be the third attempt by the Mumbai-based real estate developer to list its shares at the bourses. The firm made failed attempts to launch an IPO in 2009 and 2018, but dropped plans citing challenging times for the realty sector.

    Lodha Group plans to file IPO: Will it be third time lucky?

  • 10:04 IST: Macrotech Developers (formerly Lodha Developers), known for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London, is reportedly planning another attempt to launch an initial public offering (IPO). The decision has been taken in the backdrop of recent spurt in residential sales as well as improved investor sentiment and demand.

    This would be the third attempt by the Mumbai-based real estate developer to list its shares at the bourses. The firm made failed attempts to launch an IPO in 2009 and 2018, but dropped plans citing challenging times for the realty sector.

    Lodha Group plans to file IPO: Will it be third time lucky?

  • Jan 07, 2021 09:46 (IST)

    Market morning view

     Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "The infamy in the US Capitol has been brushed aside by the markets. The Biden Presidency with democratic senate might push for higher  fiscal stimulus pushing the dollar down further. The dollar index has slipped to less than 0.85. The US tech stocks are likely to be impacted since valuations are hard to justify. In our markets too valuations are getting stretched. Profit bookings are likely as reflected in the sell figures in cash market from both FIIs & DIIs"

  • 09:46 IST:  Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    "The infamy in the US Capitol has been brushed aside by the markets. The Biden Presidency with democratic senate might push for higher  fiscal stimulus pushing the dollar down further. The dollar index has slipped to less than 0.85. The US tech stocks are likely to be impacted since valuations are hard to justify. In our markets too valuations are getting stretched. Profit bookings are likely as reflected in the sell figures in cash market from both FIIs & DIIs"

  • Jan 07, 2021 09:42 (IST)

    Nifty outlook

     Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments said," 14250 worked as a stiff resistance and we did see a sharp fall in the market. Although we did rebound from the lows, I would advise caution as sharp movements cannot be ruled out. Hence strict stops should be maintained and traders should initiate long positions only on dips or corrections."

    Vinod Nair, Head of Research at Geojit Financial Services said,"Market is experiencing volatility due to weak Asian market and profit booking owing to rich valuation. Banking stocks are supportive, led by good loan growth data for Q3FY21, announced by key private banks. In the near-term, trend of the broad market will depend a lot on FII inflows while stock specific actions will be based on Q3 result, which is about to pick up."

     

  • 09:42 IST:  Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments said," 14250 worked as a stiff resistance and we did see a sharp fall in the market. Although we did rebound from the lows, I would advise caution as sharp movements cannot be ruled out. Hence strict stops should be maintained and traders should initiate long positions only on dips or corrections."

    Vinod Nair, Head of Research at Geojit Financial Services said,"Market is experiencing volatility due to weak Asian market and profit booking owing to rich valuation. Banking stocks are supportive, led by good loan growth data for Q3FY21, announced by key private banks. In the near-term, trend of the broad market will depend a lot on FII inflows while stock specific actions will be based on Q3 result, which is about to pick up."

     

  • Jan 07, 2021 09:42 (IST)

    This small cap stock gave 1,800% return in 9 months

    Shares of Tanla Platforms hit an upper circuit of 5 per cent at Rs 936.6 on Wednesday, extending its winning streak for the third consecutive session, after the homegrown cloud communications provider said it is set to launch a new digital platform in association with Microsoft later this month. Previously known as Tanla Solutions, the stock delivered a massive return of 1,838 per cent over the last nine months, from its 52-week low of Rs 38 as on March 24, 2020, and 878 per cent in six months. In the calendar year 2020, Tanla shares rose as much as 867 per cent, one of the highest in the small cap space. The reason behind its massive rally is robust quarterly results, inclusion into MSCI India Domestic Small Cap Index, and stake purchase by foreign investors.  

    This small cap stock gave 1,800% return in 9 months, tops 2020 multibagger list

  • 09:42 IST: Shares of Tanla Platforms hit an upper circuit of 5 per cent at Rs 936.6 on Wednesday, extending its winning streak for the third consecutive session, after the homegrown cloud communications provider said it is set to launch a new digital platform in association with Microsoft later this month. Previously known as Tanla Solutions, the stock delivered a massive return of 1,838 per cent over the last nine months, from its 52-week low of Rs 38 as on March 24, 2020, and 878 per cent in six months. In the calendar year 2020, Tanla shares rose as much as 867 per cent, one of the highest in the small cap space. The reason behind its massive rally is robust quarterly results, inclusion into MSCI India Domestic Small Cap Index, and stake purchase by foreign investors.  

    This small cap stock gave 1,800% return in 9 months, tops 2020 multibagger list

  • Jan 07, 2021 09:38 (IST)

    Opening session

    Market indices opened on a bullish note on Thursday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose 250 points to 48,416 and Nifty was rising by 75 points to 14,215.

  • 09:38 IST: Market indices opened on a bullish note on Thursday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating positive trend in domestic grounds today. Sensex rose 250 points to 48,416 and Nifty was rising by 75 points to 14,215.

  • Jan 07, 2021 09:22 (IST)

    Global markets today

    Overseas, Asian stocks are trading mixed on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.

    In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.

  • 09:22 IST: Overseas, Asian stocks are trading mixed on Thursday after the Dow Jones Industrial Average surged to an all-time high overnight despite unrest in Washington.

    In US, the Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.

  • Jan 07, 2021 09:21 (IST)

    FII action

    Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.

     


     

  • 09:21 IST:

    Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January, provisional data showed.

     


     

  • Jan 07, 2021 09:20 (IST)

    Closing on Wednesday

    Yesterday,  Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. During early session, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244. On the currency front, Indian rupee appreciated 3 paise to 73.14 against the US dollar on Wednesday's opening trade, tracking most Asian currencies amid concerns about more lockdowns in major economies.

     

  • 09:20 IST: Yesterday,  Sensex fell by 263 points to 48,174 and Nifty closed 53 points lower at 14,146. During early session, Sensex hit a lifetime high of 48,616 and Nifty rose to a new high of 14,244. On the currency front, Indian rupee appreciated 3 paise to 73.14 against the US dollar on Wednesday's opening trade, tracking most Asian currencies amid concerns about more lockdowns in major economies.