Closing belll: The BSE benchmark Sensex ended higher by over 180 points after hitting a lifetime high on Wednesday morning session enthused by gains in Reliance Industries, which also scaled a fresh peak in the morning session.

After hitting a high of 40,816.38, the 30-share index ended 181.94 points or 0.45 per cent, higher at 40,651.64. The BSE index hit an intra-day low of 40,575.96 and a high of 40,816.38. Similarly, the broader Nifty reclaimed the 12,000 mark. It closed 59 points, or 0.49 per cent, up at 11,999.10. During the day, the bourse hit a low of 11,966.05 and a high of 12,038.60.

Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,572.40 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level, after the company’s telecom arm, Reliance Jio, announced tariff hikes in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea.

Other gainers in the Nifty pack included Zee, Sun Pharma, IndusInd Bank, BPCL and Dr Reddy's rising up to 8.12 per cent.

Meanwhile, Bharti Infratel, IOC, Kotak Mahindra Bank, Eicher Motors and Tata Steel ended in the negative terrain by falling up to 3.17 per cent.

Sectorally, Nifty Media, Pharma and private banks rose up to 3.26 per cent, while Nifty realty, PSU Bank and financial services dropped up to 1.47 per cent.

SpiceJet, Gulf Air sign MoU to explore codeshare and coordinated engineering services

SpiceJet and Bahrain’s national carrier Gulf Air on Wednesday signed a Memorandum of Understanding to explore possibilities regarding interline and codeshare agreement, coordinated cargo services, engineering services and pilot training. The MoU was signed by Ajay Singh, chairman and managing director, SpiceJet, and Kreimir Kucko, chief executive officer, Gulf Air, in New Delhi

Nifty sectoral indices @ 3 pm

Havells launches new circuit protection device STADx in Tamil Nadu market

The ₹10,000 crore Havells India Ltd on Wednesday launched its new circuit protection device - STADx - a communication ready feature that helps in solving operational difficulties and ensures safety and efficiency - for the Tamil Nadu market.

Saurabh Goel, President, Havells India, said that the new device is to meet the requirements of evolving construction and manufacturing industry, which is one of the sectors that the company focuses on.

RailYatri, ICICI Lombard, Marsh join hands to provide Rs 5 lakh insurance cover for IntrCity SmartBus travellers

Continuing its journey to provide the best possible service to its travellers, IntrCity by RailYatri has announced its association with ICICI Lombard and Marsh to provide travel insurance cover worth Rs 5 lakh to all SmartBus Passengers. This group travel insurance will be available to the travellers of RailYatri starting from Nov’ 2019. The coverage will comprise of hospitalisation expenses for injury and personal accident.

Promoter holding in Reliance Capital comes down by 1.87 per cent to 39.65 per cent

The shareholding of the promoter group in  Reliance Capital  has come down by 1.87 per cent to 39.65 per cent following invocation of pledge of shares and reversal of invocation of shares in the September 30 to November 15 period.

BS VI emission norms to create headwinds for commercial vehicle sector: India Ratings

Rating agency India Ratings and Research on Wednesday said the implementation of the BS VI emission norms from April 1, 2020 could create short-term headwinds for the commercial vehicle (CV) segment.

Considering the sharp year-on-year fall in the sales volumes of CVs, especially since May 2019, the underwhelming pace of industrial activity and the higher cost of ownership of a BS-VI compliant CV, the implementation of BS-VI could add to the sector’s woes, India Ratings and Research said in a statement.

China cuts new benchmark rate to boost economy

China on Wednesday cut interest rates in a bid to shore up the world’s number two economy as cooling domestic demand, and a bruising trade spat with the United States hit growth.

The reduction in the loan prime rate (LPR) -- one of the preferential rates commercial banks impose on their best customers and which serves as a reference for other lending rates -- was widely expected after disappointing economic data in October. Read more here

Airline is too small to take on Air India: Spicejet Chairman

SpiceJet is too small an airline to take on Air India, Ajay Singh, Chairman, said on Wednesday.

Addressing a press conference after signing an MOU with Gulf Air, Ajay Singh said that SpiceJet will start an airline in Ras Al Khaima soon. The new airline will be set up with a local partner. The name of the new airline is yet to be firmed up. Read more here

Stop obstructing bankers on duty: Kerala bank officers to political parties

The Kerala State Committee of All-India Bank Officers’ Confederation (AIBOC) has demanded an immediate end to frequent obstructions to the discharge of bankers' duty by political parties, including elected representatives.

The demand was raised in the context of a recent instance in which a bank officer and colleagues were threatened and manhandled by elected representatives of the principal Opposition party in Left-ruled Kerala. Read more here

Nifty Call: Buy in declines with a stop-loss at 12,000 levels

The Sensex and the Nifty began the session with a gap-up open on the back of domestic buying interest in the large cap stocks despite weak global cues. The Nikkei 225 has slipped 0.6 per cent to 23,148 and Hang Seng index has declined 0.7 per cent to 26,892 levels in today's session. Read more on the technicals here

Moody’s assigns Baa1 rating to ONGC’s proposed senior unsecured notes

Moody’s Investors Service on Wednesday said it has assigned a ‘Baa1’ rating to the proposed senior unsecured notes to be issued by Oil and Natural Gas Corp under its USD 2 billion medium-term note program.

The outlook on the rating is negative, Moody’s said in a statement.

“The notes’ rating is in line with ONGC’s Baa1 issuer rating, which is in turn primarily driven by its standalone credit profile as captured by the company’s baa1 Baseline Credit Assessment (BCA),” says Vikas Halan, a Moody’s Senior Vice President.

Chemfab Alkalis board approves formation of new entity as wholly-owned arm

Chemfab Alkalis on Wednesday said its board has approved formation of a new entity as its wholly-owned arm.

In a filing to the Bombay Stock Exchange the company said, “Directors of Chemfab Alkalis Ltd... accorded their consent to incorporate a new entity as its wholly-owned subsidiary.”

The board meeting was held on Tuesday. The shares of the company were trading at Rs 163.30 a piece in the morning trade.

TCS and Qualcomm to launch 5G Innovation Hub in Hyderabad

IT services giant  TCS  on Wednesday announced it is partnering with chipmaker Qualcomm to launch of a 5G Innovation Hub in Hyderabad.

With support from Qualcomm, the new hub will be used to build domain-specific solutions that utilize the combinatorial power of AI, IoT and 5G technologies to help global enterprises across industries accelerate their digital transformation journeys, TCS said in a statement. Read more here

Market update: Equity benchmark BSE Sensex rallied over 300 points to hit its lifetime high on Wednesday, enthused by gains in Reliance Industries which also scaled a fresh peak in morning session.

After hitting a high of 40,816.38, the 30-share index was trading 321.20 points, or 0.79 per cent, higher at 40,790.90.

Similarly, the broader Nifty reclaimed the 12,000 mark. It was quoting at 87.25 points, or 0.73 per cent, up at 12,027.35.

Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,571.85 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level, after the company’s telecom arm, Reliance Jio, announced tariff hikes in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea.

Other gainers in the Sensex pack included IndusInd Bank, Sun Pharma, Bharti Airtel, L&T, Asian Paints, Yes Bank and Maruti.

Meanwhile, Bajaj Auto, Kotak Bank, NTPC, HCL Tech, SBI and Hero MotoCorp were trading in the negative terrain.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading in the red after US President Donald Trump on Tuesday warned that failure to get a trade deal with China will prompt more tariffs.

On the currency front, the rupee appreciated marginally against the US dollar to trade at 71.69 in morning session.

Brent futures, the global oil benchmark, fell 0.31 per cent to USD 60.72 per barrel.

Company continuously working on a resolution plan, says Suzlon

Wind-turbine maker Suzlon Energy on Wednesday said the company is working on a resolution plan and lenders have time till January next year to work on a sustainable resolution plan before taking any extreme steps.

“The company is continuously working on a resolution plan with the lenders and has also submitted a restructuring plan, which envisages segregating total debt into sustainable debt and unsustainable debt,” Suzlon Energy said in a filing to BSE in response to a clarification sought by the bourse on a news item.

Vodafone Idea, Bharti Airtel continues to rally for fourth consecutive session

Shares of Vodafone Idea and Bharti Airtel remained in heavy demand on Wednesday, with the former surging up to 32 per cent, after announcing a hike in mobile phone call and data charges from December.

Vodafone Idea shares zoomed 31.72 per cent to ₹7.93 on the BSE. This is the fourth consecutive day of rise in Vodafone Idea shares. During this time, the scrip has more than doubled. Read more here

Sharp fall in sugar output; down 64% in the new season so far

The new sugar season has commenced on a sluggish note with sugar production dwindling by 64 per cent till November 15 as compared to the same period last season.

According to the Indian Sugar Mills Association (ISMA), the sugar production till November 15 this year was 4.85 lakh tonnes as against 13.38 lakh tonnes produced in the corresponding period of the previous season. India's sugar season is between October and September next year.

Blue Star launches room ACs with in-built air purifiers

Amidst rising level of air pollution in the national capital, air conditioning major Blue Star on Wednesday announced the launch of a room air conditioner (AC) with in-built air purifier.

Besides powerful cooling during summers, the inverter AC with in-built air purifier also simultaneously purifiers indoor air.

It has the capability to function as a standalone air purifier during winters, it said.

Media stocks hog limelight; Dish TV up 16%

Media shares were trading with gains with the Nifty Media index up in Wednesday's afternoon session.

Shares of Dish TV (up 16.33 per cent), Zee Entertainment Enterprises (up 7.08 per cent), Jagran Prakashan (up 6.8 per cent) and Zee Media Corporation (up 4.46 per cent) were the top gainers in the index.

Sun TV (up 1.75 per cent), INOX Leisure (up 1.46 per cent) and TV18 Broadcast (up 1.32 per cent) too were trading higher.

The Nifty Media index was trading 3.30 per cent up at 1,864.50 around 12.15 pm.

Benchmark NSE Nifty50 index was up 90.75 points at 12,030.85 while the BSE Sensex was up 314.46 points at 40,784.16.

Chattisgarh govt assures NMDC of extension lease

The Chhattisgarh government has assured state-run National Mineral Development Corporation (NMDC) of renewing mining leases in Dantewada district for another 20 years.

The development assumes significance as NMDC is the country’s largest iron ore miner and unlike in Karnataka the company’s operations will not be affected in Chhattisgarh and the company will be able to supply raw material to steel makers.

NMDC had suspended iron ore-mining from its Donimalai mine in Karnataka following the decision of the State government to impose 80 per cent premium on the iron ore sales from the mine.

RIL hits lifetime high

Shares of Reliance Industries (RIL) rallied nearly 4 per cent to hit their lifetime high of Rs 1,571 (intra-day), inching closer to the Rs 10 lakh crore market-capitalisation level.

Subros inaugurates manufacturing plant in Gujarat

Auto components maker Subros on Wednesday announced the inauguration of its manufacturing plant in Gujarat.

“The greenfield plant has been set up at village Karsanpura, Taluka Mandal, District Ahmedabad in Gujarat,” the company said in a filing to BSE, adding that the first phase of the project now stands completed.

The production and supply of automotive air conditioning parts and engine cooling modules will be ramped-up in accordance with the requirement of the customers, the company said.

The new plant will further enhance the company’s ability to supply to the customers in the region and to bring in innovative products to cater to the changing customer requirements apart from de-risking initiative, the filing said.

RIL breaks into the club of six oil elites

Reliance Industries Ltd ., run by Asia’s richest man Mukesh Ambani, has eclipsed BP Plc to break into an elite club of energy supermajors.

The Indian conglomerates market capitalization was about $133 billion, overtaking the British energy giants $132 billion value at the close of trading on Tuesday. Reliance’s shares have increased at three times the pace of India’s benchmark index this year after its billionaire owner in August announced plans to cut the company’s net debt to zero in 18 months through measures including a stake sale in the oil-to-chemicals business to Saudi Aramco.

The surge in shares gives Ambani a net worth of $56 billion, making him Asia’s richest person, above Alibaba Groups Jack Ma, according to the Bloomberg Billionaires Index.

45,000 forging sector employees may lose jobs

The forging industry is reeling under the impact of the prolonged slowdown in the automobile sector, with close to 45,000 permanent workers set to lose their jobs if the situation does not improve.

Already, 50 per cent of the forging industry’s casual workers have lost their jobs in the last 3-4 months, according to S Muralishankar, President, Association of Indian Forging Industry (AIFI). Read the full story here

IL&FS reports lesser assets but higher liabilities in FY19

For the financial year 2019, IL&FS had lesser total assets but higher liabilities when compared to 2018.

In a filing to the exchanges, as a part of its year-ending disclosures, the troubled financing company said that in fiscal 2019, it had Rs 3,247 crore, almost 39 per cent lesser when compared to 2018 fiscal. Read more here

S&P BSE FMCG index at 10.40 am

Shree Cement QIP issue opens for subscription

The qualified institutional placement of Shree Cement opened for subscription on Monday. The board of directors on Monday set the floor price for the QIP at ₹19,806.46 a share and approved the opening of the issue.

The company’s board, on October 19, had said that it planned to raise as much as ₹3,000 crore equity in one or more tranches through the QIP route. Shareholders will closely monitor the funds to be raised, response to the issue and identity of the buyers.

Kaveri Seed, JB Chem to turn ex-date for buyback

Shares of Kaveri Seed Company and JB Chemicals and Pharmaceuticals will turn ex-date on Thursday for the proposed buyback. Kaveri Seed will buy back up to 28 lakh shares worth ₹196 crore at ₹700 a share; JB Chem will buy back 29,54,545 shares worth ₹130 crore at ₹440 a share.

Investors need to buy these shares by Wednesday, as both issues are on proportionate basis through the tender offer route. Both companies have set the record date for the buyback as November 22.

Viacom18 dials up regional content for profitable growth

Year 2019 has been one of the toughest years for the television industry. The changes in tariff order has led to a sharp decline in the number of subscribers. But Viacom18 sees this as an opportunity to dial into newer revenue sources and improve profitability.

For Viacom18, this is the time to invest in more profitable and underpenetrated areas, which is the regional language content. The company plans to do it in a holistic manner. Read more here

Daily Rupee call: Tread with caution before taking fresh positions

The rupee (INR) gained against the dollar (USD) on Tuesday as it closed at 71.71 versus the previous close of 71.84. Until the domestic currency stays above 72, it can be approached with a bullish bias as that level is solid support. But on the upside, the gains can be limited by the resistance at 71.6. Thus, the rupee can be expected to stay within 72 and 71.6 for a while.  Read more the technicals here

Broker's call: Gabriel India (Sell)

In Q2-FY20, Gabriel India ’s revenue declined by 12.7 per cent y-o-y to ₹472.70 crore on account of 39 per cent/27 per cent y-o-y decline in PV and CV segments. However, 2W revenue grew by 3 per cent y-o-y. Growth in two-wheeler segment was on account of increase in market share of TVS and addition of other successful models like Jawa, RE twin models and Suzuki models.

PV and CV (particularly LCV, MCV and HCV) volumes decline by 50 per cent, 30 per cent and 59 per cent y-o-y, respectively. The management does not expect any major revival in the industry until BS-VI transition takes place. The export business of Gabriel was also under pressure as there was weakness in Columbia due to phasing out of old models and slowdown in Sri Lanka and Latin America which are two major export markets for the company. Read more here

Maruti Suzuki has sold over 3 lakh BS-VI petrol vehicles since launch

The ground appears all set for a swift roll-out of the new Bharat Stage-6 emission norms from April 1, 2020, as the largest car maker, Maruti Suzuki India Limited (MSIL) has reported encouraging trend towards adoption of BS-VI-compliant petrol cars - even if with a tad higher cost. Read more here

Brokers shoot off letter to NSE over technical glitch

Brokers have complained to National Stock Exchange (NSE) about huge disruption in trading activity at the exchange platform. In a letter today to the exchange, ANMI, an association of NSE members said many brokers were suffering huge financial loss as their margin related files could not be updated. Read more here

Performance of Sensex shares at early trade

Opening bell: Equity benchmark BSE Sensex opened over 112 points higher on Wednesday tracking gains in index-heavyweights RIL, Bharti Airtel, and BPCL.

After hitting a high of 40,736.14 in the opening, the 30-share index is up 191 points, or 0.47 per cent, higher at 40,661.34, while the broader NSE Nifty advanced 54 points, or 0.46 per cent, to 11,994.50.

Top gainers in the Nifty pack included Reliance, Bharti Airtel, Bharti Infratel, IndusInd Bank and Coal India, rising up to 3.79 per cent.

On the other hand, Britannia, Bajaj Auto, Infosys, Eicher Motors and Axis Bank fell up to 1.2 per cent.

Day Trading Guide for November 20, 2019

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹1272 • HDFC Bank

₹712 • Infosys

₹249 • ITC

₹133 • ONGC

₹1509 • Reliance Ind.

₹330 • SBI

₹2108 • TCS

11969 • Nifty 50 Futures

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2.

Take a look at today's stock pick | Canara Bank (₹221.1): Buy

The stock of Canara Bank break-out of a key resistance at ₹211 on Tuesday by gaining 4.8 per cent accompanied by above average volume. This rally provides traders with a short term perspective an opportunity to buy the stock at current levels. Following a medium term downtrend from the July high of ₹296, the stock recorded a 52-week low at ₹170.5 in early October.  Read more on the technicals here

Asia shares numbed by trade noise, oil takes a spill

Asian shares lumbered lower on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks.

Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. That followed reports Russia was unlikely to deepen its cuts to crude output. Read more here

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