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Closing Bell
Stock market indices ended higher after hovering range-bound for most part of the session due to selective buying from investors amid short-covering by traders.
While market players wondered, whether or not, the market will be able to climb higher from current levels in the face of a current slowdown in the economy, the indices neglected all the bad news, gathered up steam slowly, yet steadily, and closed higher today.
Earlier, investors were a little cautious before taking any fresh commitments with a view that a couple of negative news may impact markets. The Consumer Price Index (CPI)-based inflation in October came in at sixteen months high of 4.62 per cent on higher food prices. Along with this, Moody’s Investors Service had cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier.
It is said that the GDP slowdown is lasting longer than previously expected. Many analysts are now predicting that the current quarter's GDP numbers could be as low as 4.25 per cent.
In the midst of these, a RBI survey has sharply cut the forecast of real private final consumption expenditure (PFCE) growth, reflecting lower household demand.
The BSE benchmark Sensex ended at 40,286.48, up by 170.42 points, or 0.42% over its previous close. It closed yesterday at 40,116.06.
The NSE Nifty too was up 30.00 points and ended at 11,870.45.
ADVANCES AND DECLINES ON BSE
SENSEX STOCKS (at close)
SENSEX STOCKS
Coal India down 2%
Coal India (CIL) shares were down on the bourses today despite showing steady earnings numbers in the current quarter. The public sector miner reported a steady set of Q2FY20 numbers.
On the BSE, Coal India stock was down by Rs 5.15 or 2.49% to Rs 202.05, with volumes traded at 1.25 lakh shares as at 3.20 pm.
Higher-than-expected FSA realisations supported overall earnings for the September quarter. The company reported a total operating income of Rs 20,383 crore, was down 7% YoY. The EBITDA came in at Rs 3,611.2 crore. The compnay's PAT for the September quarter came in at Rs 3,523 crore, up 14% Y-o-Y
Aurobindo Pharma tumbles 8%
Aurobindo Pharma declined sharply on the stock exchanges today after the US drug regulator issued a 'Form 483' with 14 observations to the company's facility in Hyderabad.
Aurobindo shares slumped 8.80% to Rs 395.30 on the BSE today. Volumes jumped nearly two-fold to 6.97 lakh shares as compared to average volume of 2.61 lakh shares for the last two-week period.
The company in its filing to the BSE stated: "Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform you that the United States Food and Drug Administration (US FDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019."
It added: "At the end of the inspection, we have been issued a 'Form 483' with 14 observations. We believe that none of these observations are related to data integrity issues. The Company will respond to the US FDA within the stipulated timeline."
NIFTY INDEX (at close)
NIFTY CHART
SENSEX CHART
NIFTY BANK CHART
NIFTY BANK CHART
NIFTY AUTO CHART
NIFTY AUTO CHART
Vodafone Idea shares tumble over 21 per cent, hit record low
Shares of Vodafone Idea and Bharti Airtel tumbled up to 21.6 per cent on Thursday, amid reports that the the DoT has issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court.
Why Investing in Saudi Aramco’s IPO will be a pipe dream for Indian investors
Saudi Aramco has announced plans to go public on Sunday, November 17, in what is touted to be the world’s biggest public issue. It is expected that Aramco will become the world’s largest company by market value, well above Apple, Microsoft and Amazon.com.
Moody’s cuts India’s GDP growth forecast to 5.6 per cent for 2019
Moody’s Investors Service on Thursday cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier. It said that the GDP slowdown is lasting longer than previously expected.
52 WEEK LOW STOCKS ON BSE
52 WEEK LOW on BSE
52 WEEK HIGH ON BSE
52 WEEK HIGH ON BSE
CARE Rating downgrades Yes Bank’s debt instruments
CARE Rating has downgraded the ratings it assigned to Yes Bank ’s debt instruments, aggregating about ₹21,000 crore. The ratings continue to be on ‘credit watch with developing implications’.
Yes Bank is at the epicenter of rising stress in India’s credit markets.
NIFTY SECTORAL INDICES
NIFTY STOCKS
Sensex stocks
Sensex stocks
Aurobindo Pharma shares tumble nearly 9%
Aurobindo Pharma declined sharply on the stock exchanges today after the US drug regulator issued a 'Form 483' with 14 observations to the company's facility in Hyderabad.
Aurobindo shares slumped 8.86% to Rs 394.40 on the BSE today. Volumes jumped nearly two-fold to 4.52 lakh shares as compared to average volume of 2.61 lakh shares for the last two-week period.
The company in its filing to the BSE stated: "Pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, this is to inform you that the United States Food and Drug Administration (US FDA) inspected Company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019."
It added: "At the end of the inspection, we have been issued a 'Form 483' with 14 observations. We believe that none of these observations are related to data integrity issues. The Company will respond to the US FDA within the stipulated timeline."
Muthoot Finance surges 9% on huge volumes
Muthoot Finance shares surged on the stock exchanges today driven by huge volumes traded in the counter. On the BSE, the stock gained Rs 58 or 9% to Rs 708.50. The stock witnessed six-fold increase in volumes at 1.42 lakh shares when compared to the two-week average volume of 19,000 shares.
On the NSE, the stock rose nearly 9% to Rs 708 and volumes traded were to the tune of 33.17 lakh shares as at 12 noon.
Recently, Muthoot Finance has successfully priced a $450 million Fixed Rate Senior Secured issuance in 144A / Reg S format for a 3 year tenor at 6.125 per cent.
It said the proceeds will be used for permitted purposes including onward lending in accordance with RBI’s ECB guidelines and other applicable laws.
350 firms to declare results today
Around 350 firms will declare their quarterly results for the period ended September on Thursday. These include Apollo Hospitals, Balkrishna, Bombay Rayon, CESC, DCW, Dish TV, Future Retail, Glenmark, among others
Rupee might head towards 52-week low
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Cholamandalam Investment sees big surge in trading volumes on BSE
Cholamandalam Investment & Finance Company Ltd saw surge volumes on the bourses with the share price gaining nearly 2 per cent today.
Volumes traded in the counter were to the extent of 21.86 lakh shares on the BSE, a 56-fold jump over two-week average daily volume of 38,000 shares. The Cholamandalam Investment was up 1.75% to Rs 302.50 on the BSE today.
Similarly on the NSE, the stock was up 1.65% to Rs 302.55 with volumes of 3.76 lakh shares trade in the counter as at 11.20 am today
It may be worthwhile to remember that Murugappa Group’s NBFC, Cholamandalam Investment and Finance Company Ltd's net profit for the quarter ended September 30, 2019, grew marginally to ₹307 crore, when compared to ₹305 crore in the year-ago quarter. Total income from operations stood at ₹2197 crore, against ₹1,676 crore, posting a growth of 31 per cent.
Related Stories
Cholamandalam posts ₹307-crore profit in Q2
Arun Alagappan elevated as Managing Director
Day Trading Guide for November 14, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹1258 • HDFC Bank
Coal India stock down 1%
Coal India (CIL) shares were down on the bourses today although the public sector miner reported a steady set of Q2FY20 numbers.
On the BSE, Coal India stock was down 1.09% to Rs 204.95, with volumes traded at 43,000 shares as at 10.40 am.
Higher-than-expected fuel supply agreement (FSA) realisations supported overall earnings for the September quarter. The company reported a total operating income of Rs 20,383 crore, was down 7% YoY. The compnay's PAT for the September quarter came in at Rs 3,523 crore, up 14% Y-o-Y.
ICICI Securities says that the company has achieved a sales volume of 122 million tonne (MT) (down approximately 11% YoY). FSA sales volume came in at 104 MT, while FSA realisations during the quarter was at Rs 1,439/tonne (up 5% QoQ, higher than our estimate of Rs 1,350/tonne).
Related Stories
Coal India to enter advance agreements overseas for coking coal
Coal Minister Pralhad Joshi says aim is to secure coking coal at competitive prices
SPL Industries stock climbs 16%
Apparel export firm SPL Industries shares jumped 16% today on the back of strong quarterly results. In a filing to the BSE, the company reported 12.02 crore profit for the quarter ended September 2019 against Rs 5.91 crore in the corresponding quarter of previous fiscal.
On the BSE, SPL Industries stock climbed Rs 5 or 16% to Rs 36.50.
Volumes traded as of now were at 16,000 shares as compared to the two-week average quantity of 6,095.
Why CPI inflation will remain high for the rest of the fiscal?
The RBI may choose to pause and not cut rates in the upcoming policy, despite growth concerns.
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Pricier foods push retail inflation to 16-month high
Core inflation in October 2019 is the lowest in the present CPI series
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Pricier foods push retail inflation to 16-month high
Core inflation in October 2019 is the lowest in the present CPI seriesRelated Stories
Moody blues for Indian economy
Ratings agencies Moody’s has revised its sovereign outlook downwards. Whatever its metrics, the fact is that the Indian economy is in a bad place
Related Stories
Moody blues for Indian economy
Ratings agencies Moody’s has revised its sovereign outlook downwards. Whatever its metrics, the fact is that the Indian economy is in a bad place
Opening Bell
Stock market indices opened flat and fell marginally as market players were a little cautious even as the Consumer Price Index (CPI)-based inflation in October came in at sixteen months high of 4.62 per cent on higher food prices.
Also, with the factory output for September contracted, investors were sitting on the sidelines without making any fresh commitments.
In the midst of this, a RBI survey has sharply cut the forecast of real private final consumption expenditure (PFCE) growth, reflecting lower household demand.
The BSE benchmark Sensex was quoted lower by 42.52 points at 40,073.54.
The NSE Nifty was down 24.20 points to 11,816.25.
Related Stories
Factory output contracts 4.3 per cent in September to 7-year low
Negative growth in all three segments of manufacturing, mining and power generation
Related Stories
Pricier foods push retail inflation to 16-month high
Core inflation in October 2019 is the lowest in the present CPI series
Broker's call
ICICI SECURITIES
Derivatives Strategy
Recommendation
Long TCS November Future at Rs 2160-2165 and short Nifty November Future at Rs 11910-11920
Current Price Ratio (Nifty/TCS): 5.51
Target: 5.06
Stop loss: 5.76
Time Frame: Till November expiry
Rationale
TCS has exhibited continuous outperformance over the market in the last couple of months and witnessed buying support at every decline. Despite in line quarterly results, the stock was able to bounce sharply from its October lows and moved up to life-time highs within a month, outperforming the Nifty.
MedPlus to launch Rs 700 crore IPO soon
Pharmacy retailer, MedPlus, is planning to come up with an Initial Public Offer (IPO) soon. Likely to close the year with a net profit of Rs 50 crore.
9.30 am
NIFTY AUTO INDEX
Nifty Auto
Indian Hotels Company (₹155.8)
The stock of Indian Hotels Company jumped 6.4 per cent accompanied by above average volume on Wednesday, breaching an immediate resistance at ₹153. Investors with a short-term horizon can buy the stock at current levels.
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Indian Hotels eyes ₹200 cr from property sales this fiscal; to buy stressed assets under GIC platform
1.76 lakh small investors acquired IRCTC shares in IPO
Indian Railway Catering and Tourism Corporation has disclosed its pre-listing shareholding pattern (dated October 11). The stock was listed on October 14.
While the promoter holding stands at 87.40 per cent, the public controls 12.60 per cent.
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In a first, IRCTC to pay compensation for Tejas Express running late
IRTC is set to pay nearly Rs 1.62 lakh as compensation to its customers for three hour delayRelated Stories
Post-listing, who are the public shareholders of IRCTC?
Shareholding patterns are crucial when making investment decisionsStocks in cautious ranges ahead of China data, trade talk hopes fade
Asian stocks clung to tight ranges on Thursday as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy.
Japan's Nikkei shed 0.61 per cent. File Photo
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