Comments
Closing Bell
Markets welcomed the Budget presented by the Finance Minister In-Charge Piyush Goyal who announced tax sops to middle class including doubling of income tax exemption limit to ₹ 5 lakh and raising standard deduction to ₹ 50,000.
The positive announcement in the Budget has boosted the overall sentiment for the market.
The BSE Sensex touched a high of 36,778.14 before settling at 36,469.43, up 212.74 points over its previous close.
Similarly, the Nifty rose to a high of 10,983.45, before closing at 10,893.65, up by 62.70 points over its previous close.
Prominent gainers today were Hero MotoCorp (up 7.47%), Maruti (4.70%), HCL Tech (3.37%), Asian Paint (2.65%), Bajaj Auto (2.40%) and Bajaj Finance (2.24%)
However, top losers which bucked the trend were Vedanta, which lost 18.10%, Yes Bank was down 4.70%, SBI was down 3.70%. ICICI Bank had shed 3% and Coal India slipped 1%.
Automobile stocks were the prominent gainers today. Stocks such as Hero MotoCorp, Maruti, Eicher Motor, Apollo Tyres, Ashok Leyland and Bosch scored gains in the range between 2.50% and 7%.
Large-cap Sensex stocks
AUTOMOBILE STOCKS ON NSE
AUTOMOBILE STOCKS (NSE)
AUTOMOBILE STOCKS (NSE)
Large-cap Sensex stocks
TOP NSE GAINERS
TOP NSE GAINERS
TOP NSE LOSERS
TOP NSE LOSERS
TOP NSE LOSERS
BSE AUTO CHART
AUTOMOBILE STOCKS (BSE)
BSE AUTOMOBILE STOCKS
Large-cap stocks
SBI gets back into black ; reports ₹ 3,955 cr profit in Q3
State Bank of India reported a net profit of ₹3,955 crore in the third quarter ended December 31, 2018 against a net loss of ₹ 2,416 crore in the year ago quarter.
The bottomline was boosted by a 21 per cent year-on-year (yoy) jump in net interest income at ₹22,691 crore and 39 per cent y-o-y decline in total provisions at ₹8,670 crore. READ MORE
Related Stories
SBI set to control 15% of Jet Airways
Naresh Goyal’s stake likely to fall below 20 per cent, under the new deal
Related Stories
SBI set to control 15% of Jet Airways
Naresh Goyal’s stake likely to fall below 20 per cent, under the new deal
Hero MotoCorp shares surge 7%
Hero MotoCorp shares continued to rally and scored nearly 7% gain today despite the automobile firm has put up a lacklustre show in the three months ended December 2018. While sales grew by 7.5 per cent to ₹7,865 crore over the December 2017 quarter, net profits fell by 4.4 per cent to ₹769 crore pre-dominantly due to cost pressures. The stock rose to Rs 2,784.45, up 6.60% on the BSE today.
Related Stories
Hero MotoCorp on a rough ride
Stiff competition, soaring input costs drag net profits down by 4.4% to ₹769 cr
LARGE-CAP STOCKS
Large-cap Stocks
Large-cap stocks
Markets welcomed the Budget presented by the Finance Minister In-Charge Piyush Goyal who announced tax rebate up to Rs 5 lakh on tax payers' income. Finally, there is a good news for all Indian tax payers. Markets cheered the announcement in the Budget and this was reflected positively in the key benchmark indices.
The BSE Sensex touched a high of 36,778.14 before being quoted at 36,650.20, up 393.51 points over its previous close.
Similarly, the Nifty rose to an high of 10,958.75, before being traded at 10,949.55, up by 118.60 points
Related Stories
Income up to ₹ 5 lakh exempted
Raises standard deduction from ₹ 40,000 to ₹ 50,000
Related Stories
Income up to ₹ 5 lakh exempted
Raises standard deduction from ₹ 40,000 to ₹ 50,000
LARGE-CAP STOCKS
Large-cap stocks
Jubilant FoodWorks shares rally on impressive results
Jubilant Foodworks shares jumped 4.50% today after the company reported 46.16 per cent jump in standalone net profit at ₹96.5 crore for the quarter ended December 31, 2018, helped by increase in same-store sales growth of Domino’s Pizza.
The company had posted a net profit of ₹66.02 crore during October-December quarter previous financial year.
Related Stories
Jubilant FoodWorks Q3 net jumps 46.16 per cent to ₹96.5 cr
Jubilant FoodWorks operates Domino’s Pizza and Dunkin’ Donuts chains in India
Related Stories
Jubilant FoodWorks Q3 net jumps 46.16 per cent to ₹96.5 cr
Jubilant FoodWorks operates Domino’s Pizza and Dunkin’ Donuts chains in IndiaRelated Stories
Jubilant FoodWorks signs PepsiCo for Domino’s Pizza
Ends 20-year-old partnership with Coke
12.15 PM
Hero MotoCorp's shares surge despite lacklustre Q3 results
Hero MotoCorp's shares zoomed 3.50% today despite the automobile firm has put up a lacklustre show in the three months ended December 2018. While sales grew by 7.5 per cent to ₹7,865 crore over the December 2017 quarter, net profits fell by 4.4 per cent to ₹769 crore pre-dominantly due to cost pressures.
Related Stories
Hero MotoCorp on a rough ride
Stiff competition, soaring input costs drag net profits down by 4.4% to ₹769 cr
Related Stories
Hero MotoCorp on a rough ride
Stiff competition, soaring input costs drag net profits down by 4.4% to ₹769 crBSE SECTORAL INDICES
BSE SECTORAL INDICES
Dewan Housing falls for fifth straight day on mismanagement claims
Shares of home loan provider Dewan Housing Finance Corp Ltd fell for the fifth straight session on Friday, a day after it appointed an “independent” auditor to investigate allegations of financial mismanagement against the company.
Investigative media outlet Cobrapost alleged in a report published on Tuesday that a large amount secured from Indian state banks was diverted by Dewan to shell companies, including those linked to its controlling shareholders. READ MORE
Related Stories
DHFL raises ₹1,375 cr via securitisation financing
Plans to reduce its real estate project finance exposure through more such transactions
Large-cap Stocks
Large-cap stocks
Surge in volumes seen in Sundram Fasteners, Lakshmi Vilas Bank Ltd, Vedanta Ltd, Venkys (India) Ltd, Hindustan Zinc Ltd
Sundram Fasteners Ltd witnessed volume of 1.57 lakh shares by 10:35 IST on BSE, a 24.89 times surge over two-week average daily volume of 6321 shares. The stock increased 1.04% to Rs.535.10. Volumes stood at 4525 shares in the last session.
Related Stories
Sundram Fasteners Ltd. - Shareholding for the Period Ended December 31, 2018
Related Stories
Sundram Fasteners Ltd. - Shareholding for the Period Ended December 31, 2018
Lakshmi Vilas Bank Ltd witnessed volume of 10.29 lakh shares by 10:35 IST on BSE, a 20.54 times surge over two-week average daily volume of 50098 shares. The stock increased 0.30% to Rs.67.45. Volumes stood at 39276 shares in the last session.
Related Stories
Lakshmi Vilas Bank’s Rs. 700-crore QIP issue may open in February
Funds to shore up tier-I ratio, increase provision coverage and grow business
Related Stories
Lakshmi Vilas Bank’s Rs. 700-crore QIP issue may open in February
Funds to shore up tier-I ratio, increase provision coverage and grow business
Vedanta Ltd notched up volume of 40.01 lakh shares by 10:35 IST on BSE, a 8.47 fold spurt over two-week average daily volume of 4.73 lakh shares. The stock slipped 16.76% to Rs.164.40. Volumes stood at 4.43 lakh shares in the last session.
Venkys (India) Ltd recorded volume of 44938 shares by 10:35 IST on BSE, a 4.66 times surge over two-week average daily volume of 9639 shares. The stock gained 1.55% to Rs.2,515.00. Volumes stood at 50459 shares in the last session.
Hindustan Zinc Ltd saw volume of 2.03 lakh shares by 10:35 IST on BSE, a 3.91 fold spurt over two-week average daily volume of 51845 shares. The stock dropped 2.63% to Rs.253.70. Volumes stood at 20441 shares in the last session
Related Stories
Hindustan Zinc Q3 net profit down 3.7 per cent
The metal production was down one per cent from a year-ago
Related Stories
Hindustan Zinc Q3 net profit down 3.7 per cent
The metal production was down one per cent from a year-ago
Maruti Suzuki jumps 3.50% despite muted sales growth
Maruti Suzuki India rose 3.48% to Rs 6,870 on NSE after the company said that its total sales rose 0.2% to 151,721 units in January 2019 over January 2018.
On the BSE, 1.10 lakh shares were traded in the counter so far compared with average daily volumes of 71,000 shares in the past two weeks. The stock had hit a high of Rs 6,910 and a low of Rs 6.655 so far during the day.
Maruti Suzuki India said total domestic sales rose 1.1% to 142,150 units, while total exports fell 11% to 9,571 units in January 2019 against in the same month last year.
Related Stories
New Maruti Suzuki WagonR test drive review
The 2019 WagonR is bigger, gets a modern design and the peppier K12 engine
Markets trade in green, while Budget presentation begins
While the Finance Minister Piyush Goyal begins Budget 2019 speech, the markets are trading in the positive territory.
Currently, the BSE Sensex was being quoted at 36,374.14, up by 117.45 points and the Nify was up 33.65 points at 10,864.60.
Budget 2019 Live!: India is solidly back on track: Piyush Goyal
NIFTY AUTO STOCKS
Nifty Auto Stocks
NIFTY BANK STOCKS
Nifty Bank stocks
Sell ITC with stiff stop-loss
₹278 • ITC
Related Stories
ITC eyes 15% market share in milk business
Unveils four variants of ready-to-drink milk-based beverages
Related Stories
ITC eyes 15% market share in milk business
Unveils four variants of ready-to-drink milk-based beverages
The 30-share benchmark Sensex was trading 149.40 points, or 0.40 per cent, higher at 36,406.12.
Similarly, the 50-share NSE Nifty rose 41.20, or 0.38 per cent, to 10,872.15.
On Thursday, the 30-share Sensex rallied 665.44 points, or 1.87 per cent, to close at 36,256.69; and the broader Nifty soared 179.15 points, or 1.68 per cent, to 10,830.95..
Top gainers in the Sensex pack include Hero MotoCorp, HCL Tech, Bharti Airtel, Bajaj Finance, Infosys, HDFC, HUL, M&M, L&T, ITC and Maruti, rising up to 2.91 per cent.
According to Hemang Jani, Head - Advisory at Sharekhan by BNP Paribas, the government might look to boost the rural and agri sector ahead of the general election.
“Expect the government to go in for a populist Budget ; however, market participants will closely weigh in the risk of a higher fiscal deficit and its impact on the market,” he said.
It is classic macroeconomic theory to expect the government to come forward with fiscal stimulus during times of economic weakness, said Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management.
A looming election and aggressive opposition only adds to the pressure to deliver a meaningful relief package, he said; adding that, should the Budget disappoint, investors’ attention is likely to revert to concerns centered around slowing growth and elections.
Large-Cap Stocks
Large-cap stocks
Vedanta slumps 20% on worries about Cairn India investment
Shares of miner Vedanta Ltd slumped about 20 percent on Friday to a 30-month low in heavy trade, on concerns about one of its transactions in the third quarter.
Related Stories
Vedanta on expansion mode, to invest $300 m in Electrosteel plant
Also plans to set up another 5-million-tonne steel-making facility in Jharkhand
Related Stories
Vedanta on expansion mode, to invest $300 m in Electrosteel plant
Also plans to set up another 5-million-tonne steel-making facility in JharkhandBroker's call: Bharti Airtel (Buy)
JMFL maintains long-term Buy on Bharti Airtel
Bharti’s Q3FY19 consolidated revenues [+0.5% qoq, +1.0% yoy] and EBITDA [-0.6%, -17%] were almost exactly in-line with the forecast. Segmental EBITDA were lower in India wireless, Africa, Enterprise, Home BB and DTH, but that got compensated by higher EBITDA in Towers (exit charges), and conversion of loss-making Airtel Payment Bank [APBL] from a subsidiary into a JV/associate effective 1st Nov’18 because of change in shareholder rights.
Reported PAT was Rs 86.20 crore, but excluding exceptional items, adjusted Q3 net loss of Rs 104 crore was similar to the forecast of Rs 108 crore.
Key highlights were: (1) near-stability in India wireless revenues—down merely 0.6% qoq; and (2) addition of 11.34 crore 4G data users versus 7.45mn in Q 2.Mobile pricing repair is not in Bharti’s hands, and therefore B/S repair needs to be a key 2019 focus to support the stock price, especially because: (1) leverage ratio is outside comfort levels—consol. net debt as of Dec’18 was 4.4x annualised 3Q EBITDA even after US$ 1.25bn equity raise in Africa; (2) Bharti is running negative FCF—INR 30 to 35bn per quarter; and (3) spectrum auction is likely mid-to-late 2020.
Further pick up in 4G user additions should also provide support to the share price. Lastly, VIL’s inability to raise significant funds and/or stabilise its topline in FY20 would be upside risks for Bharti. JMFL maintains long-term Buy rating.
Related Stories
Airtel launches 4G services in Andaman and Nicobar
The new services were flagged off by a 4G video call between MP Bishnu Pada Ray and Telecom Secretary Aruna Sundararajan
Related Stories
Airtel launches 4G services in Andaman and Nicobar
The new services were flagged off by a 4G video call between MP Bishnu Pada Ray and Telecom Secretary Aruna Sundararajan
TOP NSE LOSERS
TOP GAINERS ON NSE
TOP GAINERS ON NIFTY
Go Short in ONGC if declines below ₹139
₹141 • ONGC
Related Stories
ONGC board approves share buy back
Government to mop up around ₹2,640 cr from offer
Related Stories
‘ONGC, OIL spend Rs 13,000 cr on 115 discoveries govt took away from them’
The companies have stated that they could not produce from the discoveries as they are uneconomically at current cap prices.
Buy TCS with tight stop-loss
Related Stories
TCS Q3 net grows 24.1 per cent to Rs 8,105 cr
Sees revenue growth at 12.1% on constant currency basis; declares third interim dividend of Rs 4/share
Rupee slips 9 paise to 71.17; focus on interim budget
The rupee on Friday depreciated by 9 paise to 71.17 in early trade on the forex market amid strengthening of the American currency and caution ahead of interim budget.
Sell SBI if move beyond ₹300 levels
₹293 • SBI
Related Stories
PSBs shut down ATMs on high maintenance cost, but interchange fee may hit them hard
Related Stories
SBI set to control 15% of Jet Airways
Naresh Goyal’s stake likely to fall below 20 per cent, under the new deal
Buy Nifty Futures above 10,887 levels
10833 • Nifty 50 Futures
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.
Broker's call: Bajaj Auto (Reduce)
Prabhudas Lilladher
Bajaj Auto (Reduce)
CMP: ₹2,553.35
Target: ₹2,362
Bajaj Auto’s strategy to gain market share in the domestic motorcycle segment might have provided the company and its dealers much-needed volumes but at the cost of profitability and margins. Management expects to continue with this aggressive pricing strategy and consumer offers in the low-margin domestic M1 motorcycle segment. Given no incremental growth expected in the domestic three-wheeler market and slight disruption in the premium segment due to increase in cost on account of safety norms, margins would continue to be under pressure. READ MORE
9.35 AM
Go Long in Reliance Ind above ₹1,240 levels
₹1227 • Reliance Ind.
Related Stories
RIL Q3 net rises 8.8% to Rs 10,251 cr
First Indian company to post Rs 10,000 cr profit in a quarter
Go long in Infosys on dips
₹749 • Infosys
Related Stories
Infosys: Surprises galore in Q3
Smart rise in digital revenues, steady addition of large clients big positives
Related Stories
Infosys hires over 7,600 people in US
North America is the largest market for Infosys accounting for 60.4 per cent of the topline
Markets await Budget proposals
The BSE benchmark Sensex opened marginally higher today and was quoted at 36,332.58.
Sectoral indices led by Auto, IT, Telecom, Realty, and capital goods, stocks moved into the green
The NSE Nifty too was upl 19.70 points, or 0.18 per cent, to 10,850.65.
Top gainers in early trades include Hero MotoCorp, Eicher Motors, Bharti Airtel, Bajaj FinServ, Tata Motors, Zee and HDFC, which rose between 1.50% and 5%.
Nifty 50 Stocks
Large-cap stocks
Pre-Open Session
The BSE benchmark Sensex was up 55.05 points at 36,311.74, while the Nifty, on the NSE, gained 20.40 points at 10,851.35.
Day Trading Guide For February 1, 2019
Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:
₹2081 • HDFC Bank
China stock markets
Today's Pick: NMDC (₹96.8): Buy
Investors with a short-term horizon can buy the stock of NMDC at current levels. Following a medium-term downtrend from the September 2018 high of ₹124, the stock found support at ₹86.4 in early December.
NMDC is likely to lose nearly about ₹900-1,000 crore per annum
Related Stories
NMDC net up 78% at ₹1,577 cr
The iron ore mining major registered a turnover of ₹3,649 crore ( ₹2,469 crore).
Asian shares at 4-month high as hopes rise on Trump-Xi meet
Asian shares backed away from four-month highs on Friday as a dismal survey on Chinese factory activity dulled optimism about the prospects for a Sino-U.S. deal on tariffs. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.1 percent, though that followed a stellar 7.2 percent gain in January.
Japan's Nikkei went flat, while Shanghai blue chips held onto a 0.4 percent gain.
Dow down 0.06 per cent, S&P 500 up 0.86 per cent, Nasdaq jumps 1.37 per cent
Wall Street ascended on Thursday, with the S&P 500 wrapping up its biggest monthly increase since 2015 after strong earnings from Facebook Inc added to optimism after the Federal Reserve's dovish remarks.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.