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Closing Bell
Equity indices ended flat shedding gains made initially following mixed movement in largecap stocks.
After opening at 37,840.64, the Sensex ranged between a high of 37,904.08 and a low of 37,693.69 before finally settling at 37,754.89, just up by 2.72 points.
The NSE Nifty too edged up by 1.55 points and closed at 11,343.25.
Major gainers today were NTPC, which rose 3.53% at Rs 153.80, IndusInd Bank was up 2.85% at Rs 1,682.80, Sun Pharma rose 2.40% at Rs 467.10 and YES Bank was up 2.25% at Rs 249.85, while moderate sell-off was seen in other the key counters such as Hero MotoCorp, HCL Tech, ICICI Bank, Tata Motors, Bajaj Finance, and SBI, which fell between 0.50% and 2%.
LARGECAP stocks on BSE
Largecap stocks on BSE
NIFTY BANK STOCKS
Nifty Bank stocks
NIFTY MIDCAP STOCKS
NIFTY MIDCAP STOCKS
PRICE BAND HITS ON NSE
PRICE BAND HITS on NSE
Jubilant Foodworks trade higher on new brand launch
Jubilant Foodworks stock was trading higher by Rs 7.10 or 0.55% at Rs 1,332.75 on the NSE today. On the NSE, volumes traded on the counter were 31.12 lakh shares as of now.
The company announced the launch of its first own brand ‘Hong's Kitchen'. The latest venture marks JFL's entry into the Chinese cuisine segment, a large and fast growing segment in the Indian market. Hong's Kitchen has opened its first restaurant in Eros mall, Gurugram.
February WPI inflation accelerates to 2.93 per cent YOY : Centre
Inflation based on wholesale prices rose to 2.93 per cent in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released Thursday.
The Wholesale Price Index (WPI) based inflation stood at 2.76 per cent in January, 2019.
WPI inflation stood at 2.74 per cent during February 2018.
India said the calculations of MSP made by the US and Canada were incorrect and stressed that its price support programme for pulses was only to ensure nutrition supply for 195 million poor people.
Nifty 50 March Futures (11,362): Go short on a decisive fall below 11,345 levels
After a positive start, the Sensex and the Nifty have begun to witness selling pressure and have entered negative territory. The Asian markets are on a fall following a positive start. The Nikkei 225 is hovering flat at 21,287 levels and similarly Hang Seng index is poised at 28,787 levels.
The market breadth of the Nifty index is evenly balanced between advances and declines. The Nifty March month contract commenced the session at 11,367 and subsequently recorded an intra-day high at 11,399.
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Broker's call
JM FINANCIAL SERVICES
Voltas: Buy for a target price of Rs 625
Company Update
The key takeaways of the Voltas business are a) Southern India (mainly Kerala) saw a healthy pick up in primary volumes, thus easing off inventory concerns to some extent, but secondary volumes are yet to improve, b) unable to pass through price hikes as competitive intensity remains high;
The report maintained UCP segment margins guidance at 11% for FY19 (vs 14.7% in FY18), implying a 500 bps drop in Q42019, c) Voltbek JV inventory build-up was slow due to an adverse movement in USD/INR rate, but most large centres with high churn rate are now covered; to focus on setting up exclusive outlets in tier-2/3 towns through franchise route,
The JMFL report also says that EMP segment order inflows to see a temporary lull in domestic market due to elections as nearly 2/3rd of order book is through government funded projects and e) local manufacturing plants of compressor manufacturers and new unit at Tirupati is likely to reduce imports over next 2-3 years.
The JMFL report maintains BUY with a targe price of Rs 625.
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Voltas eyes 20 per cent of home appliances market pie by 2025
The largest player in the AC segment, is also investing over Rs 500 crore to set up a manufacturing facility at Tirupati in Andhra Pradesh
PRICE BAND HITS ON NSE
NSE PRICE BAND HITTERS
Anup Engineering jumps nearly 4%
The demerged entity of Arvind, The Anup Engineering, which wasl listed on the exchange quite recently surged nearly 4% to Rs 655 on the NSE today.
On the NSE, the stock was quoted at Rs 655 with volumes of 1.49,883 as of now.
Last year, Arvind had demerged its branded retail and small engineering businesses into three different entities — Arvind, Arvind Fashions and Anup Engineering.
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Arvind arm Anup Engineering to delist from Ahmedabad SE
Delisting offer sees highest bids for ₹11,000 against floor price of ₹1,550/share
Sun Pharma in good nick; up 2.30%
Sun Pharma shares jumped 2.30% higher on the NSE today. As of now, volumes traded in the counter were 45.50 lakh shares on the NSE. The company reported four-fold jump in consolidated net profit at Rs 1,241.85 crore for the quarter ended December 31, 2018.
1 pm
DEEP IND shares climb 10% on ONGC contract
BSE SMALLCAP STOCKS
BSE SMALLCAP STOCKS
Deep Industries shares climbed over 10 per cent on the BSE after the company said in its release to the BSE that it has received a second contract from ONGC Ltd, for charter hiring of 01 No. of 1000 HP Mobile Drilling Rig for Ahmedabad Asset for a period of 3 years. The total estimated value of the said award is approximately Rs 91.75 crores.
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Deep Industries Ltd. - Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
Largecap stocks on BSE
Go long in SBI if reverses higher from ₹286 levels
₹292 • SBI
COMMENT
Initiate fresh long positions with a fixed stop-loss if the sock of SBI reverses higher from ₹286 levels
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How does SBI’s move to link savings deposit and short term loan rates to repo rate impact you?
Aban Offshore shares slid 5%
Aban Offshore shares were down nearly 5 per cent today on the NSE.
Aban Offshore stock was quoted lower by 4.98% at Rs 69.60. On the NSE, as of now volume traded in the counter were 52,639 shares.
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Aban Offshore in the limelight
A break above ₹75 will strengthen the uptrend and take the stock up to ₹100
Premji commits additional 34% stake worth $7.5 b for philanthropy
Wipro Chairman Azim Premji has committed to philanthropy an additional 34 per cent stake in Wipro Ltd belonging to him and valued at ₹52,750 crore ($7.5 billion).
The new commitment is in addition to the 33 per cent Premji had already earmarked for the Azim Premji Foundation, taking the total market value of the philanthropic endowment corpus to ₹1,45,000 crore ($21 billion).
Back of the envelope calculations show the shares worth Rs. 500 crore were sold at Rs. 256.58 apiece PV SIVAKUMAR
Arvind Fashions hits upper band
Arvind Fashions stock hit the upper circuit today. The stock gained 5% or Rs 35.90 at Rs 754.10 on the NSE today. On the NSE, Volumes traded in the counter were 2,934 shares as of now.
LARGECAP STOCKS ON BSE
Buy Reliance Ind in dips with stop loss at ₹1,330 levels
₹1346 • Reliance Ind.
COMMENT:
As long as the stock trades above ₹1,330 levels, the near-term stance will remain positive. Buy in dips
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Reliance Jio could lose $2.1 billion this fiscal year : Bernstein
Vodafone Idea will probably post a net loss of Rs 32 billion for the year ending March
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Oil regulator hikes tariff of pipeline transporting Reliance gas by 37%, half of sought
Broker's call
ICICI SECURITIES
Derivatives Strategy - Positional Future
Buy IndusInd Bank March Futures at Rs 1612-1622
Target: Rs 1795
Stop loss: Rs 1510
Time Frame: Till March Expiry
Rationale:
IndusInd Bank has been trying to form a base at Rs 1,550-1,600 levels since November 2018. The surge in volumes near these levels is an indication of increasing buying interest after the correction of more than 30% from the highs of Rs 2,000.
The open interest in the stock has increased by 25% since the start of the current series after the last few months of consolidation.
The stock is witnessing addition of fresh long positions, which should push it higher, according to ICICI Securities.
Related Stories
IndusInd Bank net profit rises to ₹985 crore in Q3
Bank’s exposure to debt-laden IL&FS dents profitability
CPSE-ETF’s 4th tranche set to hit market next week
The Centre is all set to launch the fourth tranche of further fund offer (FFO) of Central Public Sector Enterprises Exchange-Traded Fund (CPSE-ETF) next week, after the strong response for its earlier stake-sale.
Reliance Nippon Life Asset Management has filed Supplement To Scheme Information Document paper with SEBI for CPSE-ETF FFO-4.
NIFTY AUTO STOCKS
NIFTY AUTO STOCKS
Intra-day Futures recommendation from ICICI DIRECT:
* Buy Bank Nifty in the range of 28650-28700
* Buy Mahanagar Gas in the range of | 918.50-919.50
* Sell Lupin in the range of | 772.00-773.00
Broker's call: Gujarat Gas (Buy)
Elara Capital
Gujarat Gas (Buy)
CMP: ₹153.35
Target: ₹180
Our analysis shows strong demand for industrial piped natural gas (PNG) for Gujarat Gas is imminent, given increased competitiveness of liquefied natural gas (LNG) over fuel oil (FO) & imported coal and regulatory push by the recent National Green Tribunal (NGT) order to shut coal gasifiers used by Morbi’s ceramic tiles manufacturers and switch to NG. The company had posted sales volume growth of 14 per cent y-o-y in FY15.
Representational image.
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Court allows Gujarat Gas to lay CGD network in Ahmedabad
Adani Gas petition dismissed
Bluechip stocks such as Hero MotoCorp , HCL Tech , Bajaj Finance,Tata Motors and M&M declined between 0.50% and 2%, while YES Bank, IndusInd Bank, Axis Bank and Coal India rose between 1% and 2.50%
NSE Nifty breaks resistance at 11,346, may test 11,521 level
NSE index Nifty 50 gained as much as 0.37 per cent and broken above a key resistance at 11,345.86 points.
Resistance at 11,345.86 points is identified as the 76.4 per cent Fibonacci retracement level of the downtrend from August 28 high to October 26 low (wave (4)
A close above the 76.4 per cent level may lead to further rise up to 11,521.43 points, the 86.4 per cent retracement level.
NIFTY STOCKS
NIFTY STOCKS
Markets gave up the gains that made initially following moderate sell-off in some of the key counters such as Hero MotoCorp, HCL Tech, Bajaj Finance, Tata Motors and M&M declined between 0.50% and 2%, while YES Bank, IndusInd Bank, Axis Bank and Coal India scored gains between 1% and 3%.
After opening at 37,840.64, the Sensex rose to a high of 37,904.08 before being at 37,740.23, down 11.94 points.
While, the NSE Nifty too was down by 4.95 points at 11,336.75.
Go long in TCS if rebounds from ₹1,980 levels
₹2001 • TCS
COMMENT
Consider initiating fresh long positions with a tight stop-loss if the stock rebounds up from ₹1,980 levels
TCS' margin slipped 90 bps Q-o-Q due to a talent crunch in the US.
Intraday Calls from ICICI Securities
Intraday Calls (Feb 14)
Buy Nifty 50 Futures if moves above 11,320
11366 • Nifty 50 Futures:
COMMENT
Fresh long positions can be initiated with a fixed stop-loss if the contract reverses higher from 11,320 levels
TOP MIDCAP GAINERS ON BSE
TOP MIDCAP GAINERS ON BSE
eClerx Services to consider buyback
The board of eClerx Services will meet on Thursday to consider a buyback proposal of equity shares of the company. Investors would be keen to know the buyback size and the offer price.
Shares of eClerx Services were up by 0.70% or Rs 7.60 at Rs 1,109.15 on the NSE today.
eclerx
BSE SECTORAL INDICES
BSE SECTORAL INDICES
Broker's call: KEC International (Buy)
Reliance Securities
KEC International (Buy)
CMP: ₹294.5
Target: ₹383
KEC International Ltd is engaged in the construction of utility projects. Its geographical segments include India and outside India. Its power transmission and distribution business includes providing end-to-end solutions in power transmission and distribution. Its cables service offerings include extra-high voltage (EHV) cabling solutions provided through cable selection and cabling system, and manufacturing of a range of power (high tension and EHV cables), control, telecommunication and instrumentation cables
Achieving 24x7 power for all depends on the creation of a robust cost-effective transmission network S Thanthoni
Opening Bell
The benchmark BSE Sensex rose 152 points higher in the opening trading session today.
After opening at 37,840.64, the Sensex rose further to a high of 37,904.08 before being at 37,885.06.
The NSE Nifty too rose 36.20 points, or 0.32 per cent, at 11,377.90.
Oil edges higher, holds near 4-month top on supply cuts
Oil prices nudged higher on Thursday to sit just off a four-month high reached in the previous session as investors focused on global production cuts and supply disruptions in Venezuela.
Asian shares flat after mixed China data, pound near 9-month peak
Asian shares barely budged on Thursday as investors reacted cautiously to mixed data from China, while the pound hovered near nine-month highs as the risk of a no-deal Brexit receded following a late-night vote.
Day Trading Guide for March 14
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2226 • HDFC Bank
₹709 • Infosys
Allcargo Logistics (₹112.3): Buy
Investors with a short-term perspective can buy the stock of Allcargo Logistics at current levels. Since taking support at ₹92 in last October, the stock has been in a medium-term sideways consolidation phase in the band between ₹92 and ₹113. Within this sideways movement, the stock is in a near-term uptrend.
Mumbai, 29/12/2016: Craine operator quenching his thirst at Air Condition Container yard, Jawaharlal Nehru Port Trust popularly known as JNPT, Nhava Sheva, located around 50kms from Mumbai. JNPT spread across 6000 acres handles 60% of India's total container cargo handling operation is building it's 4th terminal which will be known as Bharat Mumbai Container Terminal.
Photo: Prashant Nakwe.
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