The benchmark indices trimmed most of the morning losses to end lower on Tuesday. In a knee-jerk reaction, the benchmark indices lost ground in intra-day trade, after the Indian Air Force (IAF) on Tuesday destroyed a major terrorist camp in Pakistan.
The S&P BSE Sensex ended at 35,974, down 240 points or 0.66 per cent, while the broader Nifty50 index settled at 10,835, down 45 points or 0.41 per cent. India VIX, a gauge of volatility climbed 11 per cent to 17.04.
The S&P BSE Sensex hit a low of 35,714 levels, while the Nifty50 slipped to 10,729 levels before buying at lower levels aided recovery.
Among sectoral indices, the Nifty PSU Bank index ended 1.55 per cent lower driven by a fall in Orient Bank and Union Bank of India. The Nifty Financial Services, too, settled nearly 1 per cent lower weighed by Edelweiss Financial Services and Max Financial Services.
In the broader market, the S&P BSE MidCap index ended 0.27 per cent, or 38 points lower at 14,192 levels. The S&P BSE SmallCap index, too, lost 0.5 per cent to close at 13,550 levels.
Buzzing Stocks
Shares of Dewan Housing Finance Corporation (DHFL) slipped 8 per cent to Rs 125 apiece on the BSE in early morning trade after rating agency ICRA downgraded the company’s commercial papers (CPs) worth Rs 8,000 crore to ‘A2+’ from ‘A1+’. The stock ended at Rs 130.85, down 4.28 per cent on the BSE.
Shares of Tata Motors ended higher for the 10th straight trading session, up 4.07 per cent at Rs 183 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases.
Global Markets
Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 per cent from its highest since mid-September as US and Chinese negotiators work to hammer out a deal that would end a protracted tit-for-tat tariff battle. Chinese shares see-sawed between positive and negative territory after a sharp rally the previous day. Japan’s Nikkei stumbled 0.4 per cent as some selling pressure built ahead of the fiscal year-end.
(with Reuters input)
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03:55 PM
MARKET VIEW :: Vishal B Malkan, technical analyst and founder, MalkansView
Historically, these strikes have given a knee-jerk reaction during the first couple of hours of a trading session. Markets tend to bounce-back at the end of the day. These events do the job of weeding out weak hands, thus creating a short squeeze and make way for a rally in the short-term. A similar fate may be in store for this week as well. Stocks to watch out for include Jindal Steel, Ashok Leyland and Tata Motors
03:49 PM
MARKET COMMENT :: Jayant Manglik, President - Retail Distribution, Religare Broking
We expect markets to remain volatile in the near term. On the global front, positive developments on US-China trade deal is good for the global markets, however progress on Brexit deal front, crude oil price and currency movement would be actively tracked by investors. Domestically, geo-political tension between India and Pakistan would keep the markets volatile. Further, India’s Q3FY19 GDP numbers on Thursday would be keenly watched. We advise investors and traders to follow stock specific approach
03:35 PM
Sectoral gainers of the day on NSE
03:34 PM
Gainers and losers of the day on S&P BSE Sensex
03:33 PM
Market at close
The S&P BSE Sensex ended at 35,974, down 240 points or 0.66 per cent, while the broader Nifty50 index settled at 10,835, down 45 points or 0.41 per cent.
03:26 PM
Top losers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
ADANI TRANSMISSI 199.00 -11.55 -5.49 44202
KIOCL 125.55 -6.65 -5.03 4310
UCO BANK 18.20 -0.90 -4.71 107368
SUZLON ENERGY 5.37 -0.26 -4.62 6073526
EDELWEISS.FIN. 140.70 -6.50 -4.42 97734
» More on Top Losers
03:07 PM
Does the steadily-growing SBI MF have what it takes to bag the top spot?
SBI Mutual Fund has had its share of ups and downs during its nearly 32 years of existence. As the second fund house to set up shop after UTI in 1987, the fund house enjoyed a dream run between 1987 and 1993 piggybacking on the performance of its closed-ended schemes. The entry of private sector players in 1993, however, spoiled the party of public sector-sponsored asset management companies (AMCs), including SBI MF. READ MORE
02:48 PM
Top gainers and losers on S&P BSE Sensex
02:25 PM
Thermax jumps on plan to buy stake in JV company
Thermax rose 3.83% to Rs 998.20 at 13:59 IST on BSE after the company said it will buy out stake in a joint venture company. The announcement was made after market hours yesterday, 25 February 2019. READ MORE
02:06 PM
Motilal Oswal on Infosys
CMP: Rs 755
Target Price: Rs 865
Rating: Buy
In the recent past, onsite centricity, healthy lateral mix, and greater use of sub-contractors are all accompaniments of growth, defying revenue growth as a lever for profitability. But sustained demand should allow the industry to either
(1) pass on the higher cost to clients, or (2) eventually reap the fruits of investing in onsite talent development.
We estimate margin pressure for INFO to bottom out in FY20 between 22.5-23%. Our price target of INR865 discounts forward earnings by 19x, a 10% discount to TCS’ 1-year forward multiple. Maintain Buy.
02:01 PM
Market check
01:49 PM
Prabhudas Lilladher on agrochem industry
Although we don’t rule out growth pangs for another 3-6 months, worst seems to be over for the agrochemical industry. We initiate coverage on the agrochemical sector. Insecticides India (INST) is our top pick with 57% upside; UPLL (Buy) and PI (Accumulate) are structural plays. Sharda Cropchem (SHCR) and Dhanuka Agritech (DAGRI) offers decent upside, but SHCR is sensitive to the raw material supply situation in China and DAGRI’s fortunes are dependent fully on the domestic market. BYRCS remains a structural pick, although returns might be back ended
01:34 PM
Commodity arm of Anand Rathi, Geofin Comtrade 'not fit and proper': Sebi
Markets regulator Securities and Exchange Board of India (Sebi) on Tuesday declared the defunct commodity subsidiaries of broking firms Anand Rathi (ARCL) and Geofin Comtrade (formerly Geojit Comtrade) (GCL) “not fit and proper” in relation to the Rs 5,600-crore National Spot Exchange Ltd (NSEL) scam. Earlier, the regulator had last week taken a similar action against the commodity arm of leading equity brokers Motilal Oswal Financial Services and India Infoline. READ MORE
01:19 PM
Sharda Motor surges 10% on JV with Eberspaecher Exhaust Technology
Shares of Sharda Motor Industries (SMIL) were up 10 per cent to Rs 1,539 apieceon Tuesday, extending its previous day’s 14 per cent rally on the BSE, after the company formed a joint venture with Germany-based Eberspaecher Exhaust Technology International for business development of BS VI norms in commercial vehicle segment in India. READ MORE
12:57 PM
Just In: ICRA revises Titan's debt rating to positive from stable
12:50 PM
Web Exclusive | We see a lot of value in small-and mid-caps: Viraj Mehta, Equirus PMS
Stocks might look volatile currently but if someone's investment horizon is of two-three years, equities should return five - six per cent above inflation, says Viraj Mehta, managing director and fund manager at Equirus PMS, in an interaction with Swati Verma. READ MORE
Viraj Mehta
Viraj Mehta
12:49 PM
Anand Rathi clarifies on Sebi order
We have noted SEBI's order related to ARCL. SEBI has observed that courts and authorities have made serious adverse observations against NSEL and paired contracts. It states that even though such observations (against NSEL) are yet to established in a court of law, but by mere association of ARCL in the capacity of a broker with NSEL, the reputation of ARCL is affected and therefore the certificate of registration has been denied.
We are examining the order and will take necessary legal steps to file appeal against the order. ARCL and its clients and employees are in fact victims of this fraud perpetrated by NSEL. SEBI order rejects the application of registration of ARCL and has no impact on other businesses of the Group
(Source: Company release)
12:47 PM
Kotak Securities on Radico Khaitan
Central Pollution Control Board (CPCB) has made certain observations on zero liquid discharge system of RKL's Rampur plant to improve the environmental conditions. Due to this, CPCB has directed closure of RKL's molasses and country liquor plant at Rampur, UP
We have cut our EPS estimates for FY19E by ~3%, while keeping it unchanged for FY20E. Based on FY19E/FY20E revised EPS of Rs 14.2/18.4, the stock is trading at PE of 26.2/20.2x. We upgrade our rating on the stock to Buy (Vs ADD earlier) after recent correction in the share price, with unchanged target price of Rs 460, valuing the stock at 25x FY20E EPS
12:35 PM
Top gainers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
SWAN ENERGY 129.70 12.85 11.00 199603
KRBL 345.55 28.40 8.95 27827
GREENPLY INDS. 146.90 8.10 5.84 19186
INTELLECT DESIGN 179.30 8.90 5.22 92820
PERSISTENT SYS 626.00 25.10 4.18 25394
» More on Top Gainers
12:18 PM
Tata Motors gains for 10th straight session; stock climbs 19% in two weeks
Shares of Tata Motors were trading higher for the 10th straight trading session, up 2.5 per cent at Rs 181 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases. The stock of auto major outperformed the market by gaining 19 per cent, as compared 1 per cent decline in the S&P BSE Sensex. READ MORE
12:06 PM
MEA ON BALAKOT AIR STRIKE
"In an intelligence led operation in the early hours of today, India struck the biggest training camp of JeM in Balakot. In this operation, a very large number of JeM terrorists, trainers, senior commanders and groups of jihadis who were being trained for fidayeen action were eliminated. This facility at Balakot was headed by MAULANA YOUSUF AZHAR (alias USTAD GHOURI), the brother-in-law of MASOOD AZHAR, Chief of JeM"
Vijay Gokhale
Vijay Gokhale addresses the media after IAF strike. Photo: ANI
11:55 AM
MARKET CHECK
11:46 AM
Foreign Secy says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Vijay Gokhale: Large number of JeM terrorists, trainers, senior commanders were eliminated in largest JeM camp in Balakot. Camp was led by Maulana Yusuf Azhar alias Ustad Ghauri, brother in law of JeM Chief Masood Azhar
2,430
11:39 AM - Feb 26, 2019
1,034 people are talking about this
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11:44 AM
MARKET COMMENT :: G Chokkalingam, founder and managing director at Equinomics Research
Both the nations are sitting on a nuclear bomb and that will act as a war-deterrent. So, I feel both India and Pakistan will reach a compromise and the issue will be resolved soon. In the last three-four decades, we have not witnessed any war from any country which have a nuclear bomb. So, it's not easy to go for a full-fledged war. Rupee, too, is expected to come back to normalcy and hover around 71 levels READ MORE HERE
11:38 AM
Foreign Secretary Vijay Gokhale says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Foreign Secretary Vijay Gokhale: Credible intelligence was received that Jaish-e-Mohammed was attempting another suicide terror attack in various parts of the country & fidayeen jihadis were being trained for this purpose
1,444
11:34 AM - Feb 26, 2019
603 people are talking about this
Twitter Ads info and privacy
11:37 AM
Foreign Secy says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Vijay Gokhale: Credible information was received that JeM was attempting other attacks in the country. A pre-emptive strike became important. India struck the biggest camp of JeM in Balakot.
3,510
11:35 AM - Feb 26, 2019
1,290 people are talking about this
Twitter Ads info and privacy
11:36 AM
Foreign Secy: Selection of target was done so as to avoid civilian casualties
11:36 AM
MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial Services
Political strategists believe that geo-political risk has turned for the worse with a possibility that this calamity can get extended. Market will remain watchful and eagerly assess announcements from both the sides to evaluate further risk
11:35 AM
Large number of terrorists and fidayeen operatives have been eliminated: Foreign Secy
11:34 AM
Foreign Secy: India has struck the biggest training camp of JeM in Balakot
The S&P BSE Sensex ended at 35,974, down 240 points or 0.66 per cent, while the broader Nifty50 index settled at 10,835, down 45 points or 0.41 per cent. India VIX, a gauge of volatility climbed 11 per cent to 17.04.
The S&P BSE Sensex hit a low of 35,714 levels, while the Nifty50 slipped to 10,729 levels before buying at lower levels aided recovery.
Among sectoral indices, the Nifty PSU Bank index ended 1.55 per cent lower driven by a fall in Orient Bank and Union Bank of India. The Nifty Financial Services, too, settled nearly 1 per cent lower weighed by Edelweiss Financial Services and Max Financial Services.
In the broader market, the S&P BSE MidCap index ended 0.27 per cent, or 38 points lower at 14,192 levels. The S&P BSE SmallCap index, too, lost 0.5 per cent to close at 13,550 levels.
Buzzing Stocks
Shares of Dewan Housing Finance Corporation (DHFL) slipped 8 per cent to Rs 125 apiece on the BSE in early morning trade after rating agency ICRA downgraded the company’s commercial papers (CPs) worth Rs 8,000 crore to ‘A2+’ from ‘A1+’. The stock ended at Rs 130.85, down 4.28 per cent on the BSE.
Shares of Tata Motors ended higher for the 10th straight trading session, up 4.07 per cent at Rs 183 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases.
Global Markets
Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes UK Prime Minister Theresa May will delay a Brexit deadline.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 per cent from its highest since mid-September as US and Chinese negotiators work to hammer out a deal that would end a protracted tit-for-tat tariff battle. Chinese shares see-sawed between positive and negative territory after a sharp rally the previous day. Japan’s Nikkei stumbled 0.4 per cent as some selling pressure built ahead of the fiscal year-end.
(with Reuters input)
CATCH ALL THE LIVE UPDATES
Auto Refresh
03:55 PM
MARKET VIEW :: Vishal B Malkan, technical analyst and founder, MalkansView
Historically, these strikes have given a knee-jerk reaction during the first couple of hours of a trading session. Markets tend to bounce-back at the end of the day. These events do the job of weeding out weak hands, thus creating a short squeeze and make way for a rally in the short-term. A similar fate may be in store for this week as well. Stocks to watch out for include Jindal Steel, Ashok Leyland and Tata Motors
03:49 PM
MARKET COMMENT :: Jayant Manglik, President - Retail Distribution, Religare Broking
We expect markets to remain volatile in the near term. On the global front, positive developments on US-China trade deal is good for the global markets, however progress on Brexit deal front, crude oil price and currency movement would be actively tracked by investors. Domestically, geo-political tension between India and Pakistan would keep the markets volatile. Further, India’s Q3FY19 GDP numbers on Thursday would be keenly watched. We advise investors and traders to follow stock specific approach
03:35 PM
Sectoral gainers of the day on NSE
03:34 PM
Gainers and losers of the day on S&P BSE Sensex
03:33 PM
Market at close
The S&P BSE Sensex ended at 35,974, down 240 points or 0.66 per cent, while the broader Nifty50 index settled at 10,835, down 45 points or 0.41 per cent.
03:26 PM
Top losers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
ADANI TRANSMISSI 199.00 -11.55 -5.49 44202
KIOCL 125.55 -6.65 -5.03 4310
UCO BANK 18.20 -0.90 -4.71 107368
SUZLON ENERGY 5.37 -0.26 -4.62 6073526
EDELWEISS.FIN. 140.70 -6.50 -4.42 97734
» More on Top Losers
03:07 PM
Does the steadily-growing SBI MF have what it takes to bag the top spot?
SBI Mutual Fund has had its share of ups and downs during its nearly 32 years of existence. As the second fund house to set up shop after UTI in 1987, the fund house enjoyed a dream run between 1987 and 1993 piggybacking on the performance of its closed-ended schemes. The entry of private sector players in 1993, however, spoiled the party of public sector-sponsored asset management companies (AMCs), including SBI MF. READ MORE
02:48 PM
Top gainers and losers on S&P BSE Sensex
02:25 PM
Thermax jumps on plan to buy stake in JV company
Thermax rose 3.83% to Rs 998.20 at 13:59 IST on BSE after the company said it will buy out stake in a joint venture company. The announcement was made after market hours yesterday, 25 February 2019. READ MORE
02:06 PM
Motilal Oswal on Infosys
CMP: Rs 755
Target Price: Rs 865
Rating: Buy
In the recent past, onsite centricity, healthy lateral mix, and greater use of sub-contractors are all accompaniments of growth, defying revenue growth as a lever for profitability. But sustained demand should allow the industry to either
(1) pass on the higher cost to clients, or (2) eventually reap the fruits of investing in onsite talent development.
We estimate margin pressure for INFO to bottom out in FY20 between 22.5-23%. Our price target of INR865 discounts forward earnings by 19x, a 10% discount to TCS’ 1-year forward multiple. Maintain Buy.
02:01 PM
Market check
01:49 PM
Prabhudas Lilladher on agrochem industry
Although we don’t rule out growth pangs for another 3-6 months, worst seems to be over for the agrochemical industry. We initiate coverage on the agrochemical sector. Insecticides India (INST) is our top pick with 57% upside; UPLL (Buy) and PI (Accumulate) are structural plays. Sharda Cropchem (SHCR) and Dhanuka Agritech (DAGRI) offers decent upside, but SHCR is sensitive to the raw material supply situation in China and DAGRI’s fortunes are dependent fully on the domestic market. BYRCS remains a structural pick, although returns might be back ended
01:34 PM
Commodity arm of Anand Rathi, Geofin Comtrade 'not fit and proper': Sebi
Markets regulator Securities and Exchange Board of India (Sebi) on Tuesday declared the defunct commodity subsidiaries of broking firms Anand Rathi (ARCL) and Geofin Comtrade (formerly Geojit Comtrade) (GCL) “not fit and proper” in relation to the Rs 5,600-crore National Spot Exchange Ltd (NSEL) scam. Earlier, the regulator had last week taken a similar action against the commodity arm of leading equity brokers Motilal Oswal Financial Services and India Infoline. READ MORE
01:19 PM
Sharda Motor surges 10% on JV with Eberspaecher Exhaust Technology
Shares of Sharda Motor Industries (SMIL) were up 10 per cent to Rs 1,539 apieceon Tuesday, extending its previous day’s 14 per cent rally on the BSE, after the company formed a joint venture with Germany-based Eberspaecher Exhaust Technology International for business development of BS VI norms in commercial vehicle segment in India. READ MORE
12:57 PM
Just In: ICRA revises Titan's debt rating to positive from stable
12:50 PM
Web Exclusive | We see a lot of value in small-and mid-caps: Viraj Mehta, Equirus PMS
Stocks might look volatile currently but if someone's investment horizon is of two-three years, equities should return five - six per cent above inflation, says Viraj Mehta, managing director and fund manager at Equirus PMS, in an interaction with Swati Verma. READ MORE
Viraj Mehta
Viraj Mehta
12:49 PM
Anand Rathi clarifies on Sebi order
We have noted SEBI's order related to ARCL. SEBI has observed that courts and authorities have made serious adverse observations against NSEL and paired contracts. It states that even though such observations (against NSEL) are yet to established in a court of law, but by mere association of ARCL in the capacity of a broker with NSEL, the reputation of ARCL is affected and therefore the certificate of registration has been denied.
We are examining the order and will take necessary legal steps to file appeal against the order. ARCL and its clients and employees are in fact victims of this fraud perpetrated by NSEL. SEBI order rejects the application of registration of ARCL and has no impact on other businesses of the Group
(Source: Company release)
12:47 PM
Kotak Securities on Radico Khaitan
Central Pollution Control Board (CPCB) has made certain observations on zero liquid discharge system of RKL's Rampur plant to improve the environmental conditions. Due to this, CPCB has directed closure of RKL's molasses and country liquor plant at Rampur, UP
We have cut our EPS estimates for FY19E by ~3%, while keeping it unchanged for FY20E. Based on FY19E/FY20E revised EPS of Rs 14.2/18.4, the stock is trading at PE of 26.2/20.2x. We upgrade our rating on the stock to Buy (Vs ADD earlier) after recent correction in the share price, with unchanged target price of Rs 460, valuing the stock at 25x FY20E EPS
12:35 PM
Top gainers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
SWAN ENERGY 129.70 12.85 11.00 199603
KRBL 345.55 28.40 8.95 27827
GREENPLY INDS. 146.90 8.10 5.84 19186
INTELLECT DESIGN 179.30 8.90 5.22 92820
PERSISTENT SYS 626.00 25.10 4.18 25394
» More on Top Gainers
12:18 PM
Tata Motors gains for 10th straight session; stock climbs 19% in two weeks
Shares of Tata Motors were trading higher for the 10th straight trading session, up 2.5 per cent at Rs 181 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases. The stock of auto major outperformed the market by gaining 19 per cent, as compared 1 per cent decline in the S&P BSE Sensex. READ MORE
12:06 PM
MEA ON BALAKOT AIR STRIKE
"In an intelligence led operation in the early hours of today, India struck the biggest training camp of JeM in Balakot. In this operation, a very large number of JeM terrorists, trainers, senior commanders and groups of jihadis who were being trained for fidayeen action were eliminated. This facility at Balakot was headed by MAULANA YOUSUF AZHAR (alias USTAD GHOURI), the brother-in-law of MASOOD AZHAR, Chief of JeM"
Vijay Gokhale
Vijay Gokhale addresses the media after IAF strike. Photo: ANI
11:55 AM
MARKET CHECK
11:46 AM
Foreign Secy says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Vijay Gokhale: Large number of JeM terrorists, trainers, senior commanders were eliminated in largest JeM camp in Balakot. Camp was led by Maulana Yusuf Azhar alias Ustad Ghauri, brother in law of JeM Chief Masood Azhar
2,430
11:39 AM - Feb 26, 2019
1,034 people are talking about this
Twitter Ads info and privacy
11:44 AM
MARKET COMMENT :: G Chokkalingam, founder and managing director at Equinomics Research
Both the nations are sitting on a nuclear bomb and that will act as a war-deterrent. So, I feel both India and Pakistan will reach a compromise and the issue will be resolved soon. In the last three-four decades, we have not witnessed any war from any country which have a nuclear bomb. So, it's not easy to go for a full-fledged war. Rupee, too, is expected to come back to normalcy and hover around 71 levels READ MORE HERE
11:38 AM
Foreign Secretary Vijay Gokhale says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Foreign Secretary Vijay Gokhale: Credible intelligence was received that Jaish-e-Mohammed was attempting another suicide terror attack in various parts of the country & fidayeen jihadis were being trained for this purpose
1,444
11:34 AM - Feb 26, 2019
603 people are talking about this
Twitter Ads info and privacy
11:37 AM
Foreign Secy says
View image on Twitter
View image on Twitter
ANI
✔
@ANI
Vijay Gokhale: Credible information was received that JeM was attempting other attacks in the country. A pre-emptive strike became important. India struck the biggest camp of JeM in Balakot.
3,510
11:35 AM - Feb 26, 2019
1,290 people are talking about this
Twitter Ads info and privacy
11:36 AM
Foreign Secy: Selection of target was done so as to avoid civilian casualties
11:36 AM
MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial Services
Political strategists believe that geo-political risk has turned for the worse with a possibility that this calamity can get extended. Market will remain watchful and eagerly assess announcements from both the sides to evaluate further risk
11:35 AM
Large number of terrorists and fidayeen operatives have been eliminated: Foreign Secy
11:34 AM
Foreign Secy: India has struck the biggest training camp of JeM in Balakot
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