The frontline indices are trading around 0.75 per cent higher led by gains in Infosys, Larsen & Toubro (L&T), Reliance Industries (RIL) and HDFC twins.
Among sectors, the Nifty Metal index is trading around 2 per cent higher led by Jindal Steel & Power and Vedanta. The Nifty Bank index, too, has risen nearly 0.5 per cent led by Punjab National Bank (PNB), YES Bank and State Bank of India (SBI).
The broader market indices were largely moving in line with their benchmark peers. At 2:09 PM, the S&P BSE MidCap was trading 66 points, or 0.48 per cent higher at 13,933, while S&P BSE SmallCap was ruling at 13,237, up 75 points, or 0.57 per cent.
BUZZING STOCKS
Shares of Anil Dhirubhai Ambani Group (ADAG) companies tumbled by up to 11 per cent on the BSE in intra-day trade on Wednesday after an unfavorable Supreme Court (SC) verdict in Ericsson contempt case.
In a big setback for Anil Ambani, the SC today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term. READ HERE
Shares of Exide Industries hit a 52-week low of Rs 195 apiece, down 5 per cent on the BSE in intra-day trade in an otherwise firm market. In the past two months, the stock of auto ancillary company slipped 28 per cent on reporting weak December 2018 results (Q3FY19). In comparison, the S&P BSE Sensex was down 2.3 per cent during the same period. READ HERE
GLOBAL MARKETS
Asian stocks advanced to 4-1/2-month highs on Wednesday as investors bet that Chinese and U.S. trade negotiators would be able to secure a deal to de-escalate their year-long tariff war.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose nearly 1.0 per cent to reach its highest levels since Oct. 2. Hong Kong’s Hang Seng gained 1.1 per cent to six-month highs, while Korea’s Kospi and Taiwan’s index recovered to levels last seen in early October. Japan’s Nikkei gained 0.75 per cent to two-month highs.
OIL PRICES
Oil prices hovered near 2019 highs, supported by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela, but further gains were capped by soaring U.S. production and expectations of an economic slowdown.
(with Reuters input)
CATCH ALL THE LIVE UPDATES
Auto Refresh
02:35 PM
Top gainers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
MINDA INDS. 326.00 39.20 13.67 104051
TEJAS NETWORKS 143.65 16.80 13.24 40324
PTC INDIA 79.20 5.15 6.95 57048
NAVKAR CORPORAT. 39.60 2.30 6.17 37359
JINDAL STEEL 149.20 7.95 5.63 1718331
» More on Top Gainers
02:23 PM
How Anil Ambani could arrange funds needed to comply with the SC order
Holding Reliance Communications (RCom) Chairman Anil Ambani and two of the company’s directors guilty of contempt of court, the Supreme Court on Wednesday directed RCom to pay within four weeks Rs 453 crore of the Rs 571 crore it owes telecom equipment maker Ericsson. A failure to do so could land Ambani and the other two in jail for three months.
The Court was hearing three contempt applications that Ericsson had filed against Ambani and others for not clearing its dues. READ MORE
02:16 PM
Page Industries slips 16% in a week post Q3 result; stock nears 52-week low
Shares of Page Industries were trading lower for the fifth straight day, slipping 5 per cent to Rs 20,414 apiece. The stock has fallen 16 per cent in the past one week after the December 2018 (Q3FY19) results. The stock was trading near its 52-week low of Rs 20,102 touched on March 7, 2018, on the BSE in intra-day trade. READ MORE
01:59 PM
MARKET CHECK
01:49 PM
Nifty Realty index is trading lower after GST Council meet outcome
01:42 PM
Arun Jaitley says will try and take decision on real estate on Sunday
01:39 PM
GST Council defers decision to revise rates on real estate, according to TV reports
01:32 PM
Top gainers and losers on S&P BSE Sensex
01:13 PM
Page Industries slips 16% in a week post Q3 result; stock nears 52-week low
Shares of Page Industries were trading lower for the fifth straight day, slipping 5 per cent to Rs 20,414 apiece. The stock has fallen 16 per cent in the past one week after the December 2018 (Q3FY19) results. The stock was trading near its 52-week low of Rs 20,102 touched on March 7, 2018, on the BSE in intra-day trade.
Page Industries is the exclusive licensee of Jockey International Inc. (USA) for manufacture distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. READ MORE
01:03 PM
Web Exclusive | Reliance Communications erodes 95% of shareholder wealth since listing
Shares of Reliance ADAG companies came under heavy selling pressure on Wednesday, after the Supreme Court of India held the chairman and two directors guilty of contempt of court on three contempt applications filed by Telecom equipment maker Ericsson against him over not clearing dues of Rs 550 crore.
The apex court has asked RCom to pay Rs 453 crore to Ericsson within four weeks, failing which, Anil Ambani, Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani would face a three-month jail term. READ MORE
12:49 PM
Reliance Securities on Ambuja Cements
RATING: BUY
CMP: Rs 198
Target Price: Rs 242
Ambuja Cements' capacity expansion programme is moving as per schedule, which has eased the concerns of capacity constraints for the company. Notably, the Company has appointed Mr. Bimlendra Jha (ex- CEO of Tata Steel UK) as the MD & CEO with effect from 1st Mar’19. Further, recent spike in realisation in Western markets and spill-over favourable impact of reduction in fuel prices are likely to aid ACEM’s operational performance from the current quarter. Rolling over our estimates to CY20E, we maintain our BUY recommendation on the stock with a revised SOTP-based Target Price of Rs 242 (from Rs 235 earlier).
12:43 PM
Motilal Oswal on Automobiles
While next 2 quarters are expected to be muted, we expect the CV demand to continue growing in FY20 driven by normalization of financing issues and pre-buying ahead of the BS6 implementation. Moreover, potential mandatory scrapping of trucks older than 20 years from Apr-20 onwards can more than off-set the impact of pre-buying in FY21. In the base case, we estimate domestic M&HCV volumes CAGR of 1.7% over FY19-21 (based on 15%/15%/-10% growth in FY19/20/21 and assuming no scrappage policy). Capacity utilization will further increase to ~88% by FY20 supporting a benign competitive environment and relatively less pressure in weak FY21. In CVs, our preferred pick is AL, a pure play in the domestic M&HCV cycle along with focus on expanding/creating new revenue/profit pool.
12:40 PM
Top losers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
PNC INFRATECH 132.95 -10.10 -7.06 3198
RELIANCE CAPITAL 141.40 -10.10 -6.67 2250938
REL. COMM. 5.64 -0.38 -6.31 5980716
RELIANCE INFRA. 116.25 -5.95 -4.87 1754653
KAVERI SEED CO. 401.85 -19.60 -4.65 993801
» More on Top Losers
12:32 PM
Shutting out foreign funds hurts India's bad-debt market, says BofA
India’s distressed debt market is being hobbled by rules that bar foreign funds from directly buying up bank loans, according to Bank of America Corp. In the past year, the US lender has had to team up with local asset reconstruction companies to purchase loans made to firms including Seven Hills Hospitals and GTL Infrastructure Ltd. that had soured. As it scouts for more opportunities in the nation with the world’s worst non-performing debt ratio, the requirement for local partners is a hindrance, said Jayesh Mehta, country treasurer at Bank of America Merrill Lynch. READ MORE
12:12 PM
Exide Industries hits 52-wk low; down 28% in two months on weak Q3 results
Shares of Exide Industries hit a 52-week low of Rs 195 apiece, down 5 per cent on the BSE in intra-day trade in an otherwise firm market. In the past two months, the stock of auto ancillary company slipped 28 per cent on reporting weak December 2018 results (Q3FY19). In comparison, the S&P BSE Sensex was down 2.3 per cent during the same period. In Q3FY19, Exide Industries reported flat net profit at Rs 155 crore, due to lower other income and higher tax rate. It had a profit of Rs 154 crore in the year-ago quarter. READ MORE
11:59 AM
Market check
11:48 AM
ADAG stocks tumble on unfavorable Supreme Court verdict in Ericsson case
Shares of Anil Dhirubhai Ambani Group (ADAG) companies tumbled by up to 11 per cent on the BSE in intra-day trade on Wednesday after an unfavorable Supreme Court (SC) verdict in Ericsson contempt case.
In a big setback for Anil Ambani, the SC today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term. READ MORE
11:35 AM
Oil and gas exploration stocks gain; Duke Offshore hits 20% upper circuit
Shares of oil and gas exploration companies rose as much as 20% in intra-day trade on Wednesday as the government decided to offer bigger oil and gas areas that currently belong to its companies Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to the private sector on relaxed conditions.
“To enhance production from existing nomination fields of ONGC and OIL, enhanced production profile will be prepared by both PSUs. For production enhancement, bringing new technology, and capital, national oil companies will be allowed to induct private sector partners,” said a government press release. READ MORE
11:25 AM
March 1 deadline for China trade talks not 'magical' date: Donald Trump
US President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date.
Tariffs on $200 billion worth of Chinese imports are scheduled to rise to 25 percent from 10 percent by March 1 if the world's two largest economies do not settle their trade dispute, but Trump has suggested several times that he would be open to postponing the deadline. READ MORE
11:14 AM
Weak demand from original equipment manufacturers to weigh on Apollo Tyres
The Apollo Tyres stock is down 14 per cent since the start of the month on worries of rising competitive pressures, slowing demand from automakers and lower-than-expected December quarter numbers. Revenues in the quarter did not grow as anticipated due to volume growth, which failed to meet expectations both in domestic as well as international businesses. READ MORE
11:02 AM
Top gainers and losers on S&P BSE Sensex
11:01 AM
STOCK ALERT :: All ADAG stocks under pressure post SC verdict on Anil Ambani
COMPANY LATEST PREV CLOSE LOSS(
) LOSS(%) VOLUME
RELIANCE CAPITAL 139.55 151.50 -11.95 -7.89 1481870
REL. COMM. 5.65 6.02 -0.37 -6.15 4104855
RELIANCE INFRA. 114.80 122.20 -7.40 -6.06 1175624
RELIANCE POWER 10.70 10.85 -0.15 -1.38 2492398
RELIANCE NIP.LIF 151.95 152.05 -0.10 -0.07 2634
Click here for more
10:55 AM
STOCK IMPACT :: RCom slumps over 6%
(Image source: NSE)
10:53 AM
NEWS ALERT SC holds R Com Chairman Anil Ambani, two directors guilty of contempt of court
10:44 AM
Aavas Financiers hits new high; surges 35% in three months
Shares of Aavas Financiers hit a new high of Rs 930, rising 3 per cent on the BSE in intra-day trade on Wednesday. The stock was trading at its highest level since listing on October 8, 2018.
The stock of housing finance company has outperformed the market by surging 13 per cent since January 30, after it reported a healthy result for December 2018 (Q3FY19). In comparison, the S&P BSE Sensex was up 1 per cent during the same period. READ MORE
10:31 AM
Karvy Stock Broking on Mirza International
Recommendation: BUY
CMP: Rs 52
Target Price: Rs 62
With product launches, the company has broadened its operations in different segments of footwear increasing its target market. On management’s lower domestic revenue growth guidance, rupee depreciation, uncertain stand on exports, we cut our FY19E EBITDA by 13.5% and by 13.7% for FY20E. Higher interest due to the greater debt burden and increasing advertisement cost, we conservatively cut our FY19E PAT by 35.5% and by 40% for FY20. We maintain a “BUY” recommendation, valuing at 9.8x (10-year average of 1 year Forward Earnings) of the FY20E EPS with a revised target price of Rs. 62 representing an upside potential of 19%.
10:15 AM
MARKET CHECK
09:59 AM
Web Exclusive | PNC Infra, Sadbhav: 5 road construction stocks IDBI Capital is betting on
Despite the near-term headwinds such as the upcoming general elections that can slow the contract awarding activity, analysts at IDBI Capital remain bullish on the road ahead for the road construction sector. The fact that construction companies are fully dependent on government for orders makes it an important event for companies in the road construction segment from order book / revenue perspective. READ MORE
09:54 AM
Motilal Oswal on Indian Hotels
RATING: Buy
CMP: Rs 137
Target Price: Rs 189
We maintain our estimates – revenue/EBITDA CAGR (FY18-21) of 10%/24% to INR53.9b/INR12.9b. In our view, IH is well on track to achieve its ‘Aspiration 2022’ goal and other strategic initiatives like rebranding of Ginger/monetizing the existing landbank. Moreover, IH is witnessing ARR growth of 8% in the FIT segment and has taken an ARR hike of 8.5% in the corporate segment in Jan’19 (in line with the view in our initiation report). Thus, the underlying thesis of favorable demand-supply-led growth in the Indian hospitality industry remains intact. We value the stock at 20x Dec’20E EV/EBITDA (on a one-year forward EV/EBITDA basis, the stock has traded at a 10-year average of 21.4x). On an SOTP (consol. and JV & associate) basis, we arrive at a target price of INR189, implying an upside of 38%. Maintain Buy.
09:53 AM
Centrum on Ambuja Cements
RATING: BUY
CMP: Rs 198
Target Price: Rs 220
ACEM delivered disappointing results in Q4CY18, driven by muted price increase YoY while cost inflation remained elevated. Thus, EBITDA/adj PAT fell 20%/15% YoY. During CY18, the sharp increase in working capital (core and non-core) dragged down ACEM’s operating cash flow to multi-year lows. ACEM’s capex spend continues to rise, as it is working to expand its clinker and cement capacity by 18%/6% by Q3CY20E. We estimate ACEM to deliver 5.5%/11% volume/ EBITDA CAGR over CY18-20E. We maintain Buy with a lower TP of Rs220. The sharp 13%/23% share price correction over the past 6/12 months keeps valuation attractive, as the stock is trading at 11.2x/9.7x CY19/20E EBITDA and at a replacement cost of Rs7.8bn/MT.
09:47 AM
Top gainers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
ABBOTT INDIA 7750.00 489.05 6.74
TEJAS NETWORKS 134.05 7.20 5.68 7965
CG POWER & INDU. 30.35 1.55 5.38 1242493
ITI 96.65 4.80 5.23 134858
SHANKARA BUILD. 490.25 21.30 4.54 11698
Among sectors, the Nifty Metal index is trading around 2 per cent higher led by Jindal Steel & Power and Vedanta. The Nifty Bank index, too, has risen nearly 0.5 per cent led by Punjab National Bank (PNB), YES Bank and State Bank of India (SBI).
The broader market indices were largely moving in line with their benchmark peers. At 2:09 PM, the S&P BSE MidCap was trading 66 points, or 0.48 per cent higher at 13,933, while S&P BSE SmallCap was ruling at 13,237, up 75 points, or 0.57 per cent.
BUZZING STOCKS
Shares of Anil Dhirubhai Ambani Group (ADAG) companies tumbled by up to 11 per cent on the BSE in intra-day trade on Wednesday after an unfavorable Supreme Court (SC) verdict in Ericsson contempt case.
In a big setback for Anil Ambani, the SC today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term. READ HERE
Shares of Exide Industries hit a 52-week low of Rs 195 apiece, down 5 per cent on the BSE in intra-day trade in an otherwise firm market. In the past two months, the stock of auto ancillary company slipped 28 per cent on reporting weak December 2018 results (Q3FY19). In comparison, the S&P BSE Sensex was down 2.3 per cent during the same period. READ HERE
GLOBAL MARKETS
Asian stocks advanced to 4-1/2-month highs on Wednesday as investors bet that Chinese and U.S. trade negotiators would be able to secure a deal to de-escalate their year-long tariff war.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose nearly 1.0 per cent to reach its highest levels since Oct. 2. Hong Kong’s Hang Seng gained 1.1 per cent to six-month highs, while Korea’s Kospi and Taiwan’s index recovered to levels last seen in early October. Japan’s Nikkei gained 0.75 per cent to two-month highs.
OIL PRICES
Oil prices hovered near 2019 highs, supported by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela, but further gains were capped by soaring U.S. production and expectations of an economic slowdown.
(with Reuters input)
CATCH ALL THE LIVE UPDATES
Auto Refresh
02:35 PM
Top gainers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
MINDA INDS. 326.00 39.20 13.67 104051
TEJAS NETWORKS 143.65 16.80 13.24 40324
PTC INDIA 79.20 5.15 6.95 57048
NAVKAR CORPORAT. 39.60 2.30 6.17 37359
JINDAL STEEL 149.20 7.95 5.63 1718331
» More on Top Gainers
02:23 PM
How Anil Ambani could arrange funds needed to comply with the SC order
Holding Reliance Communications (RCom) Chairman Anil Ambani and two of the company’s directors guilty of contempt of court, the Supreme Court on Wednesday directed RCom to pay within four weeks Rs 453 crore of the Rs 571 crore it owes telecom equipment maker Ericsson. A failure to do so could land Ambani and the other two in jail for three months.
The Court was hearing three contempt applications that Ericsson had filed against Ambani and others for not clearing its dues. READ MORE
02:16 PM
Page Industries slips 16% in a week post Q3 result; stock nears 52-week low
Shares of Page Industries were trading lower for the fifth straight day, slipping 5 per cent to Rs 20,414 apiece. The stock has fallen 16 per cent in the past one week after the December 2018 (Q3FY19) results. The stock was trading near its 52-week low of Rs 20,102 touched on March 7, 2018, on the BSE in intra-day trade. READ MORE
01:59 PM
MARKET CHECK
01:49 PM
Nifty Realty index is trading lower after GST Council meet outcome
01:42 PM
Arun Jaitley says will try and take decision on real estate on Sunday
01:39 PM
GST Council defers decision to revise rates on real estate, according to TV reports
01:32 PM
Top gainers and losers on S&P BSE Sensex
01:13 PM
Page Industries slips 16% in a week post Q3 result; stock nears 52-week low
Shares of Page Industries were trading lower for the fifth straight day, slipping 5 per cent to Rs 20,414 apiece. The stock has fallen 16 per cent in the past one week after the December 2018 (Q3FY19) results. The stock was trading near its 52-week low of Rs 20,102 touched on March 7, 2018, on the BSE in intra-day trade.
Page Industries is the exclusive licensee of Jockey International Inc. (USA) for manufacture distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, UAE, Oman and Qatar. READ MORE
01:03 PM
Web Exclusive | Reliance Communications erodes 95% of shareholder wealth since listing
Shares of Reliance ADAG companies came under heavy selling pressure on Wednesday, after the Supreme Court of India held the chairman and two directors guilty of contempt of court on three contempt applications filed by Telecom equipment maker Ericsson against him over not clearing dues of Rs 550 crore.
The apex court has asked RCom to pay Rs 453 crore to Ericsson within four weeks, failing which, Anil Ambani, Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani would face a three-month jail term. READ MORE
12:49 PM
Reliance Securities on Ambuja Cements
RATING: BUY
CMP: Rs 198
Target Price: Rs 242
Ambuja Cements' capacity expansion programme is moving as per schedule, which has eased the concerns of capacity constraints for the company. Notably, the Company has appointed Mr. Bimlendra Jha (ex- CEO of Tata Steel UK) as the MD & CEO with effect from 1st Mar’19. Further, recent spike in realisation in Western markets and spill-over favourable impact of reduction in fuel prices are likely to aid ACEM’s operational performance from the current quarter. Rolling over our estimates to CY20E, we maintain our BUY recommendation on the stock with a revised SOTP-based Target Price of Rs 242 (from Rs 235 earlier).
12:43 PM
Motilal Oswal on Automobiles
While next 2 quarters are expected to be muted, we expect the CV demand to continue growing in FY20 driven by normalization of financing issues and pre-buying ahead of the BS6 implementation. Moreover, potential mandatory scrapping of trucks older than 20 years from Apr-20 onwards can more than off-set the impact of pre-buying in FY21. In the base case, we estimate domestic M&HCV volumes CAGR of 1.7% over FY19-21 (based on 15%/15%/-10% growth in FY19/20/21 and assuming no scrappage policy). Capacity utilization will further increase to ~88% by FY20 supporting a benign competitive environment and relatively less pressure in weak FY21. In CVs, our preferred pick is AL, a pure play in the domestic M&HCV cycle along with focus on expanding/creating new revenue/profit pool.
12:40 PM
Top losers on BSE500
COMPANY PRICE(RS) CHG(RS) CHG(%) VOLUME
PNC INFRATECH 132.95 -10.10 -7.06 3198
RELIANCE CAPITAL 141.40 -10.10 -6.67 2250938
REL. COMM. 5.64 -0.38 -6.31 5980716
RELIANCE INFRA. 116.25 -5.95 -4.87 1754653
KAVERI SEED CO. 401.85 -19.60 -4.65 993801
» More on Top Losers
12:32 PM
Shutting out foreign funds hurts India's bad-debt market, says BofA
India’s distressed debt market is being hobbled by rules that bar foreign funds from directly buying up bank loans, according to Bank of America Corp. In the past year, the US lender has had to team up with local asset reconstruction companies to purchase loans made to firms including Seven Hills Hospitals and GTL Infrastructure Ltd. that had soured. As it scouts for more opportunities in the nation with the world’s worst non-performing debt ratio, the requirement for local partners is a hindrance, said Jayesh Mehta, country treasurer at Bank of America Merrill Lynch. READ MORE
12:12 PM
Exide Industries hits 52-wk low; down 28% in two months on weak Q3 results
Shares of Exide Industries hit a 52-week low of Rs 195 apiece, down 5 per cent on the BSE in intra-day trade in an otherwise firm market. In the past two months, the stock of auto ancillary company slipped 28 per cent on reporting weak December 2018 results (Q3FY19). In comparison, the S&P BSE Sensex was down 2.3 per cent during the same period. In Q3FY19, Exide Industries reported flat net profit at Rs 155 crore, due to lower other income and higher tax rate. It had a profit of Rs 154 crore in the year-ago quarter. READ MORE
11:59 AM
Market check
11:48 AM
ADAG stocks tumble on unfavorable Supreme Court verdict in Ericsson case
Shares of Anil Dhirubhai Ambani Group (ADAG) companies tumbled by up to 11 per cent on the BSE in intra-day trade on Wednesday after an unfavorable Supreme Court (SC) verdict in Ericsson contempt case.
In a big setback for Anil Ambani, the SC today held Reliance Group chairman and its two directors guilty of contempt in pleas filed by telecom equipment maker Ericsson for not clearing its dues of Rs 550 crore. Court asked Ambani to pay Rs 453 crore to Ericsson in four weeks, failing which he will have to serve three months of jail term. READ MORE
11:35 AM
Oil and gas exploration stocks gain; Duke Offshore hits 20% upper circuit
Shares of oil and gas exploration companies rose as much as 20% in intra-day trade on Wednesday as the government decided to offer bigger oil and gas areas that currently belong to its companies Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to the private sector on relaxed conditions.
“To enhance production from existing nomination fields of ONGC and OIL, enhanced production profile will be prepared by both PSUs. For production enhancement, bringing new technology, and capital, national oil companies will be allowed to induct private sector partners,” said a government press release. READ MORE
11:25 AM
March 1 deadline for China trade talks not 'magical' date: Donald Trump
US President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a "magical" date.
Tariffs on $200 billion worth of Chinese imports are scheduled to rise to 25 percent from 10 percent by March 1 if the world's two largest economies do not settle their trade dispute, but Trump has suggested several times that he would be open to postponing the deadline. READ MORE
11:14 AM
Weak demand from original equipment manufacturers to weigh on Apollo Tyres
The Apollo Tyres stock is down 14 per cent since the start of the month on worries of rising competitive pressures, slowing demand from automakers and lower-than-expected December quarter numbers. Revenues in the quarter did not grow as anticipated due to volume growth, which failed to meet expectations both in domestic as well as international businesses. READ MORE
11:02 AM
Top gainers and losers on S&P BSE Sensex
11:01 AM
STOCK ALERT :: All ADAG stocks under pressure post SC verdict on Anil Ambani
COMPANY LATEST PREV CLOSE LOSS(
) LOSS(%) VOLUME
RELIANCE CAPITAL 139.55 151.50 -11.95 -7.89 1481870
REL. COMM. 5.65 6.02 -0.37 -6.15 4104855
RELIANCE INFRA. 114.80 122.20 -7.40 -6.06 1175624
RELIANCE POWER 10.70 10.85 -0.15 -1.38 2492398
RELIANCE NIP.LIF 151.95 152.05 -0.10 -0.07 2634
Click here for more
10:55 AM
STOCK IMPACT :: RCom slumps over 6%
(Image source: NSE)
10:53 AM
NEWS ALERT SC holds R Com Chairman Anil Ambani, two directors guilty of contempt of court
10:44 AM
Aavas Financiers hits new high; surges 35% in three months
Shares of Aavas Financiers hit a new high of Rs 930, rising 3 per cent on the BSE in intra-day trade on Wednesday. The stock was trading at its highest level since listing on October 8, 2018.
The stock of housing finance company has outperformed the market by surging 13 per cent since January 30, after it reported a healthy result for December 2018 (Q3FY19). In comparison, the S&P BSE Sensex was up 1 per cent during the same period. READ MORE
10:31 AM
Karvy Stock Broking on Mirza International
Recommendation: BUY
CMP: Rs 52
Target Price: Rs 62
With product launches, the company has broadened its operations in different segments of footwear increasing its target market. On management’s lower domestic revenue growth guidance, rupee depreciation, uncertain stand on exports, we cut our FY19E EBITDA by 13.5% and by 13.7% for FY20E. Higher interest due to the greater debt burden and increasing advertisement cost, we conservatively cut our FY19E PAT by 35.5% and by 40% for FY20. We maintain a “BUY” recommendation, valuing at 9.8x (10-year average of 1 year Forward Earnings) of the FY20E EPS with a revised target price of Rs. 62 representing an upside potential of 19%.
10:15 AM
MARKET CHECK
09:59 AM
Web Exclusive | PNC Infra, Sadbhav: 5 road construction stocks IDBI Capital is betting on
Despite the near-term headwinds such as the upcoming general elections that can slow the contract awarding activity, analysts at IDBI Capital remain bullish on the road ahead for the road construction sector. The fact that construction companies are fully dependent on government for orders makes it an important event for companies in the road construction segment from order book / revenue perspective. READ MORE
09:54 AM
Motilal Oswal on Indian Hotels
RATING: Buy
CMP: Rs 137
Target Price: Rs 189
We maintain our estimates – revenue/EBITDA CAGR (FY18-21) of 10%/24% to INR53.9b/INR12.9b. In our view, IH is well on track to achieve its ‘Aspiration 2022’ goal and other strategic initiatives like rebranding of Ginger/monetizing the existing landbank. Moreover, IH is witnessing ARR growth of 8% in the FIT segment and has taken an ARR hike of 8.5% in the corporate segment in Jan’19 (in line with the view in our initiation report). Thus, the underlying thesis of favorable demand-supply-led growth in the Indian hospitality industry remains intact. We value the stock at 20x Dec’20E EV/EBITDA (on a one-year forward EV/EBITDA basis, the stock has traded at a 10-year average of 21.4x). On an SOTP (consol. and JV & associate) basis, we arrive at a target price of INR189, implying an upside of 38%. Maintain Buy.
09:53 AM
Centrum on Ambuja Cements
RATING: BUY
CMP: Rs 198
Target Price: Rs 220
ACEM delivered disappointing results in Q4CY18, driven by muted price increase YoY while cost inflation remained elevated. Thus, EBITDA/adj PAT fell 20%/15% YoY. During CY18, the sharp increase in working capital (core and non-core) dragged down ACEM’s operating cash flow to multi-year lows. ACEM’s capex spend continues to rise, as it is working to expand its clinker and cement capacity by 18%/6% by Q3CY20E. We estimate ACEM to deliver 5.5%/11% volume/ EBITDA CAGR over CY18-20E. We maintain Buy with a lower TP of Rs220. The sharp 13%/23% share price correction over the past 6/12 months keeps valuation attractive, as the stock is trading at 11.2x/9.7x CY19/20E EBITDA and at a replacement cost of Rs7.8bn/MT.
09:47 AM
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