Share Market Update: Sensex ends 489 points higher, Nifty closes at 11,726; UltraTech Cement, HCL Tech top gainers post Q4 results
BusinessToday.In April 24, 2019
The key benchmark indices closed nearly 500 pts up with Sensex finishing above 39,000 levels owing to gains in the Reliance Industries and HDFC twins.
Broader Indices Nifty closed at 150 points at 11,726 level and Sensex ended 489 points up at 39,054. The BSE Sensex touched intraday high of 39095.35 and intraday low of 38571. The NSE Nifty touched intraday high of 11740.85 and intraday low of 11578.85. The BSE MIDCAP ended at 15218.34 up by 65.24 points or by 0.43 %. Meanwhile, the BSE SMLCAP closed at 14846.65 up by 61.37 points or by 0.42 %.
The Market breadth was strong. On BSE out of total shares traded 2827, shares advanced were 1332 while 1308 shares declined and 187 were unchanged. On the sectoral front, except auto, all other sectoral indices ended in green backed up by gains in bank, IT, energy, telecom and finance.
Top Gainers and Losers
Top gainers in NSE Nifty are UltraTech Cement, BPCL, HCL Tech, Indusland Bank and ONGC, whereas Tata Motors, Hero Motocorp, Maruti, Coal India and Cipla were among the top losrs in today's trade.
Top gainers in BSE Sensex are Reliance Nippon, Indiabulls Real Estate, CG power, Reliance Capital And Infibeam Avenues, whereas top losers are sterlite Technologies, Shriram City, Reliance communications, Hexaware and Tata Motors.
UltraTech Cement top Nifty gainer after announcing Q4 results
The company has reported 108% jump in its March quarterresults. The net profit stood at Rs 1,017.5 crore vs Rs 487.95 crore a year ago period.
Its revenue was up 18% at Rs 10,500 crore against Rs 8,872 crore, YoY.
The stock was trading at Rs 4,432 up 5.57% on NSE
Read full report here: Indiabulls Real Estate share jumps 13% on raising Rs 1,807 cr from London property sale
Lupin shares falls over 3% as USFDA warns of regulatory action
Shares of Lupin fell 3.28% to intraday low of Rs 835 after USFDA warned the firm that it may withhold approval of any pending applications or supplements in which this facility is listed.
As per their regulatory filing, the company has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI).
"The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed," it added.
The stock curently trades at Rs 866, 1.75 points up.
Read full report here: USFDA classifies Lupin's Pithampur facility as 'Official Action Indicated'
Indiabulls Real Estate rises on $258 million London property sale
Shares of Indiabulls Real Estate fell over 13% amid media reports that the company will sell its London property to promoters for GBP 200 million (approximately Rs 1,800 crore) as part of its strategy to focus on its India business and cut debt.
The company's net debt stood at Rs 4,590 crore at the end of the fourth quarter of 2018-19 fiscal and the same would be reduced to Rs 3,000 crore after this proposed deal with promoters conclude.
The stock is trading 9% up at Rs 115.05.
Read full report here: Indiabulls Real Estate to sell London asset to promoters for Rs 1,800 crore to cut debt
Tata Global Beverages falls 4% on weak March-quarter results
On Tuesday, TGB reported a 61 per cent fall in Q4 net profit after which the shares of Tata Global Beverages fell as much as 4.3 % to Rs 200.65.
In March quarter, company's profit has fallen 61.5% to Rs 22.9 crore versus Rs 59.4 crore in the same quarter last year, whereas the revenue rose to 5.2% to Rs 1,775.5 crore versus Rs 1,688.4 crore YoY.
The stock currently trades at Rs 208.80, down 0.36%.
Read full report here: Why Tata Global Beverages share dips over 4% in intraday trade
Trident board to consider stock split on May 13
The stock had sudden jump to day's high of Rs 68 against the previous close of Rs 66, after the company announced to consider and recommend sub-division/split of company's equity share having face value of Rs 10 each.
The share currently trades 1.43% up at Rs 67.35
Geojit Financial Services' stock falls after SEBI fined company for Rs 30 lakh
Shares of Geojit Financial Services fell over 4% after regulator SEBI slapped Rs 30 lakh fine on the company for violations of stock broker norms, including non-settlement of clients' accounts.
The stock has been losing for the last 3 days and has fallen 5.90% in the period and currently trades down 2.13% or 0.85 points at Rs 39.05.
Read full report here: Sebi slaps Rs 30 lakh fine on Geojit Financial Services for violations of stock broker norms
Neogen Chemicals IPO
The Neogen Chemicals initial public offer (IPO) for subscription opens today. The issue price band is fixed at Rs 212-215 per share, with a minimum lot size of 65 equity shares. The issue will close on April 26 and IPO will be lisitng on May 8, on both the exchanges, BSE and NSE.
The IPO consists of a fresh issue aggregating up to Rs 70 crore by the company and an offer for sale of up to 16,99,600 equity shares.
Neogen Chemicals (NCL) is manufacturers of bromine-based, and lithium-based, specialty chemicals. Neogen will use fresh issue proceeds for repayment of all or a portion of certain borrowings availed, early redemption of 9.8% FRCPS, long term working capital, and general corporate purposes, as per the IPO objectives of the company.
Rupee is trading near day low as 69.93, down 30 paise or 0.44 percent against the US dollar.
Read full report here: Indian Rupee slips 23 paise to 69.85 against US dollar on fund outflows
The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 167.65,+2.26%), HCL Technologies Ltd. (Rs. 1125.65,+2.05%), IndusInd Bank Ltd. (Rs. 1684.30,+1.79%), Bharti Airtel Ltd. (Rs. 321.40,+1.64%), Asian Paints Ltd. (Rs. 1447.40,+1.12%), among others.
The top gainers of the NSE Nifty pack were Oil And Natural Gas Corporation Ltd. (Rs. 167.50,+2.29%), IndusInd Bank Ltd. (Rs. 1687.25,+2.17%), HCL Technologies Ltd. (Rs. 1125.90,+2.17%), Bharat Petroleum Corporation Ltd. (Rs. 343.45,+2.11%), Indian Oil Corporation Ltd. (Rs. 152.45,+2.04%), among others.
Shares of Indian Oil, HPCL and BPCL were up over 1% in today's trade. The shares of oil marketing companies fell sharply yesterday on account of crude prices hitting 6-month highs.
Brent crude (price commodity) is at $73.50 per barrel, down 1.13%, from their last close of $74.36.
BSE Sensex was at 38643.05 up by 78.17 points or by 0.2 % and NSE Nifty was at 11603.75 up by 27.8 points or by 0.24 %. The BSE Sensex touched intraday high of 38701.52 and intraday low of 38571. The NSE Nifty touched intraday high of 11620.85 and intraday low of 11578.85.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2366, shares advanced were 1077 while 1144 shares declined and 145 were unchanged.
The BSE MIDCAP was at 15156.89 up by 3.79 points or by 0.03 %. The BSE SMLCAP was at 14803.4 up by 18.12 points or by 0.12 %.
Read full report here: Sensex rises over 100 pts; Nifty testing 11,600 level
NLC India to raise money through private placement of bonds
NLC India(navratna company) on Wednesday informed the exchanges that, "meeting of Board of Directors of the Company is scheduled to be held on Monday, the 29th April, 2019, i~ter-alia, to consider and approve for issuance of Bonds through private placement," through regulatory filing.
NLC India's stock is trading currently at Rs 68.40, up 0.15%.
ACC falls 5% to Rs 1,578 on lower-than-expected Q1 operating performance
The company's operating Ebitda (earnings before interest, tax, depreciation and amortization) grew 9 per cent year on year (YoY) at Rs 462 crore, againt analysts' expectation of Rs 639 crore, in Q1CY19.
Net sales during the quarter went up 8 per cent to Rs 3,850 crore as compared to Rs 3,557 crore for the same quarter last year.
The stock touched an intraday low of Rs 1,570.85 (-5.25%)The stock currently trades at Rs 1577, down 4.8% or 80 points.
On the sectoral front, BSE Oil & Gas index was at 14810.58 up by 169.84 points or by 1.16%. Oil And Natural Gas Corporation Ltd. (Rs. 167.30,+2.04%), Bharat Petroleum Corporation Ltd. (Rs. 342.70,+1.89%), Hindustan Petroleum Corporation Ltd. (Rs. 258.55,+1.83%), Indian Oil Corporation Ltd. (Rs. 151.85,+1.47%), Reliance Industries Ltd. (Rs. 1375.80,+0.92%).
On the other hand, BSE Auto index was at 19371.25 down by -211.03 points or by -1.08%. Tata Motors Ltd. (Rs. 219.45,-5.16%), Motherson Sumi Systems Ltd. (Rs. 146.95,-2.20%), Apollo Tyres Ltd. (Rs. 208.85,-1.30%), Hero MotoCorp Ltd. (Rs. 2602.90,-1.30%), MRF Ltd. (Rs. 56047.25,-1.09%).Reliance Nippon life promoter creates pledge on 8.66% stake on April 15
Promoter Reliance capital has pledged 8.66% shares (5.29 crore shares) of Reliance Nippon life on April 15 Lender - JM Financial Credit Solutions Limited. Prior to announcing the March quarter results, the company is among the top gainers on BSE today.
The stock has been gaining for the last 2 days and has risen 10.37% in the period. The share opened with a gain of 2.69% and surged over 11% to day's high of Rs. 208.75. The stock currently trades at Rs 202, 8% up.
BSE Sensex was at 38586.72 up by 21.84 points or by 0.06 % and NSE Nifty was at 11589.2 up by 13.25 points or by 0.11 %.
The BSE Sensex touched intraday high of 38701.52 and intraday low of 38571.
The NSE Nifty touched intraday high of 11620.85 and intraday low of 11580.6.
The top gainers of the BSE Sensex pack are Oil And Natural Gas Corporation Ltd. (Rs. 168.00,+2.47%), Asian Paints Ltd. (Rs. 1452.55,+1.48%), HCL Technologies Ltd. (Rs. 1118.75,+1.43%), YES Bank Ltd. (Rs. 235.30,+1.05%), IndusInd Bank Ltd. (Rs. 1670.95,+0.99%), among others.
The top gainers of the NSE Nifty pack were Oil And Natural Gas Corporation Ltd. (Rs. 167.75,+2.44%), HCL Technologies Ltd. (Rs. 1125.35,+2.12%), Bharat Petroleum Corporation Ltd. (Rs. 342.45,+1.81%), Indian Oil Corporation Ltd. (Rs. 151.95,+1.71%), IndusInd Bank Ltd. (Rs. 1675.85,+1.48%), among others.
IndiaBulls Real Estate top gainer on BSE after announcing results
Indiabulls Real Estate's share price has surged 12% and is presently trading at Rs 119, almost 13% up.
Company's net profit stood at Rs 2 billion for the quarter ended December 2018, compared to a profit of Rs 854 million a year ago. Net Sales declined 39.5% to Rs 12.7 billion during the period as against Rs 21.0 billion in October-December 2017. Revenue of the company grew 155.4% to Rs 59 billion during FY18.
Scrips annoucing Q4 Results today
Ultratech Cement, Tata Elxsi, Sygene International, Shriram City Union Finance, Muthoot Capital Services, Meera Industries, M&M Financial, Bharti Infratel, India Grid Trust, ICICI Prudential Life Insurance, Indiabulls Housing Finance, Hexaware Technologies, Benares Hotel Ltd, Agro Tech Foods Ltd., Automotive Stampings & Assemblies ltd.
BSE Sensex was at 38637.91 up by 73.03 points or by 0.19 % and NSE Nifty was at 11601.1 up by 25.15 points or by 0.22 %. The BSE Sensex touched intraday high of 38701.52 and intraday low of 38605.17. The NSE Nifty touched intraday high of 11620.85 and intraday low of 11589.3.
The BSE MIDCAP was at 15139.94 down by 13.16 points or by 0.09 %. Meanwhile, the BSE SMLCAP was at 14815.58 up by 30.3 points or by 0.2 %.
Coromandel International rises 6 % - Q4 Total Income up by 9%, PAT up by 22%
Shares of Coromandel International rose 6 % on account of strong March 2019 Quarterly numbers.
The company's consolidated total income grew by 9% during the quarter ended 31 March 2019. Profit before depreciation, interest, taxes and exceptional item (EBITDA)for the quarter ended 31 March 2019 has increased by 40% to Rs. 259 crores vs. Rs.185 crores in the quarter last year. Total Income for the quarter is Rs. 2,647 crores in compared to the quarter last year of Rs.2,428 crores.
As per the BSE website, there has been a spurt in volume by more than 2.23 times in the stock. The stock has gained after 4 days of consecutive fall. After opening with a gain of 2.97%, the stock touched an intraday high of Rs 452.55 (6.15%)
The key benchmark indices opened flat on Wednesday with positive bias owing to mixed global cues.
Sensex is up 131.49 points at 38696.37, while Nifty is up 36.20 points at 11612.20.
On the sectoral front, bank, auto, energy, infra and IT are trading higher.
Rupee opened lower at 69.81 against US Dollar. It had closed at 69.62 against the US dollar on Tuesday.
Sensex is up 92.17 points or 0.24% at 38657.05, Nifty50 is above 11,600
National Stock Exchange's (NSE's) India VIX index, has soared 54% in the year so far. On Tuesday, the index surged to 25, the highest in 3 years.
India VIX is a volatility index based on the NIFTY Index Option prices, which tracks investors' perceptions of volatility for at least a month ahead.
Market on Tuesday
BSE Sensex closed at 38564.88, down by 80.3 points or by 0.21 % and NSE Nifty failed to hold 11,600 to close at 11578.8 down by 15.65 points or by 0.13 %. Overall 22 stocks out of 30 stocks closed in the red on Sensex and 30 out of 50 stocks closed in the red on Nifty 50.
Trading was expected to be cautious yesterday amid the third phase of voting in the 2019 Lok Sabha elections.
Read full report here: Election uncertainty to keep markets on tenterhooks
Markets are expected to open positive on account of global cues. Japanese shares are lower today as the Nikkei 225 is down 0.54%. The stock markets in Hong Kong and Shanghai are closed at this time.
Equity markets in Asia rose on Wednesday morning, tracking the US markets. Nikkei, Hong Kong and South Korea Index gained half a percent each.
The S&P 500 index and the Nasdaq rallied to record high on Tuesday, on back of better-than-expected earnings reports.
Oil prices were down on Wednesday after markets were promised of "adequate global supply" despite the US announcing no "reissue of waivers" against Iran sanctions.
Rising oil price and appreciating USDINR is a major concern for volatile energy markets and risks upsetting major importers such as India and China.
(Edited by Rupa Burman Roy)