Benchmark indices ended at record closing highs on Monday led by stocks of private lenders, with better-than-expected growth in industrial output and a global equities rally boosting sentiment.Benchmark indices ended at record closing highs on Monday led by stocks of private lenders, with better-than-expected growth in industrial output and a global equities rally boosting sentiment.
Industrial activity in the country, as measured by the Index of Industrial Production (IIP), brought some cheer, rising to a 25-month high of 8.4% in November from 2.2% the previous month.
Meanwhile, Inflation based on wholesale prices eased to 3.58% in December 2017 as prices of food articles declined even as fuel cost witnessed a surge. The inflation was 3.93% in November 2017 and 2.10% in December 2016.
Asia shares ex-Japan hit historic highs after Wall Street extended its record-breaking run as banks reported solid fourth-quarter earnings and robust retail sales drove investor optimism about economic growth.CATCH ALL THE LIVE UPDATES03:43 PMNifty Bank hits record high
03:38 PMSectoral Trends
03:36 PMSensex top gainers and losers
03:33 PMMarket at close
Benchmark indices ended at new closing highs on Monday led by stocks of private lenders, with better-than-expected growth in industrial output and a global equities rally boosting sentiment. The S&P BSE Sensex ended at 34,843, up 251 points while the broader Nifty50 index settled the day at 10,741, up 60 points03:19 PMPE investments jump 55% to all-time high of $24 bn across 591 deals in 2017 Private equity firms invested $23.8 billion across 591 deals in 2017, making it the biggest year for PE investments in India, says a report. According to deal tracker Venture Intelligence, the investment value is 39 per cent higher than the previous high of $17.1 billion (recorded in 2015) and 55 per cent higher than $15.4 billion invested during 2016. Read more03:10 PMInfosys Q3 results: Volume growth provides stability to performance The third quarter results of FY18 results for all IT companies will be driven by seasonality and hence will be muted as compared to the results posted in H1FY2018. We expect the top-tier companies to grow 0.9-2.5% Q-o-Q, during the quarter. Infosys was not expected to deliver any extraordinary results for the quarter, especially when the company had already downgraded its full-year guidance to 5.5-6.5% y-o-y CC growth, which implies an ask rate of 0.4-1.6% CC Q-o-Q growth for H2FY2018. For the quarter, we went with the expectations that the company will post 1% sequential growth in US dollar revenues to $2,755 million. EBITDA margins were expected to show a downtick of about 7bps Q-o-Q to 26.7%, while EBIT was expected to have a downtick of 39 bps Q-o-Q to end the period at 23.8%, towards the lower end of the guided 23-25%. Consequently, PAT was expected to be at Rs 35.9 billion, a dip of 3.7% Q-o-Q. Read more
03:03 PMKodakOne blockchain and crypto coin: A new kind of intellectual property? It’s easy to be a bit amused about Kodak’s new blockchain and cryptocurrency, the KodakOne. The old photography company is the classic case of a firm that failed to keep up with technological change. But now Kodak is exploiting one of the most interesting characteristics of the blockchain (the technology behind Bitcoin) to reshape how we understand and manage intellectual property. Read more02:46 PMLa Opala RG soars 12% on bonus issue plan La Opala RG has moved higher by 12% to Rs 694 on BSE in noon deal trade after the houseware company said that its board will meet on February 5, 2018 to consider issue of bonus shares. “In the next meeting of the board of directors of La Opala RG scheduled for 5th February, 2018, the board of directors may consider issue of bonus shares to the shareholders of the company which, if approved, will be subject to applicable regulatory provisions and the approvals of shareholders and others as may be required for the same,” La Opala RG said in a regulatory filing. Read more02:30 PMCapital expenditure done, Reliance Industries now eyes debt reduction In June 2011, at Reliance Industries’ (RIL’s) 37th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani had told shareholders that RIL would be a “debt-free” company. Ten months later, RIL was virtually debt-free on a net-cash basis at the consolidated level, after considering its cash and bank balances as well as investments. With its capital expenditure plan nearly completed, India's most valuable company is once again in a position in which it will start reducing debt. Click here for full story02:17 PMHDFC Group shares rally; HDFC, HDFC Bank, HDFC Standard Life hits new high Shares of HDFC Group companies were in focus with most of the frontline stocks – HDFC Bank, Housing Development Finance Corporation (HDFC) and HDFC Standard Life Insurance – hitting their respective new highs on the National Stock Exchange (NSE) in intra-day trade on Monday. These three stocks were up in the range of 2% to 7%, while Gruh Finance was trading 1% higher at Rs 510. On comparison, the Nifty 50 index was up 0.66% at 10,752 points at 01:55 pm. Read more
02:00 PMSoftBank mulls $18-bn Japan wireless unit IPO to fund its tech investments SoftBank Group Corp said on Monday it was considering listing its Japanese wireless business, seeking to raise a reported $18 billion in a move that would accelerate the conglomerate's transformation into one of the world's biggest tech investors. A spin-off – potentially the biggest IPO by a Japanese company in nearly two decades – would also give the unit more autonomy as well as help investors with valuing the business and its parent. Read more
01:44 PMHDFC: Impact of Fund raising
01:30 PMMarket Check
Index Current Pt. Change % Change S&P BSE SENSEX 34,873.36 +280.97 +0.81 S&P BSE SENSEX 50 11,224.88 +78.59 +0.71 S&P BSE SENSEX Next 50 37,527.41 -30.85 -0.08 S&P BSE 100 11,268.80 +64.22 +0.57 S&P BSE Bharat 22 Index 3,811.71 +4.46 01:16 PMSebi has approved appointment of Vijay Kumar as NCDEX MD & CEO Market regulator Sebi has approved appointment of Vijay Kumar as Managing Director and CEO of the countrys largest agri-commodity bourse NCDEX, a top official of the exchange said. Kumar, a former chief business officer at NCDEX, is likely to assume the office next week. The exchange's selection committee had picked his name for the MD and CEO's post from a list of 11 candidates. READ MORE12:58 PMMuthoot Capital Services zooms 20% on strong Q3 results Muthoot Capital Services was locked in upper circuit of 20% to Rs 799 also its record high on BSE, after the company reported a more than doubled net profit at Rs 157 million for the quarter ended December 2017 (Q3FY18). The company engaged in the business of financing had profit of Rs 64 million in the same quarter last year. Net interest income (operational revenue minus finance costs) grew 68% at Rs 730 million against Rs 434 million in the corresponding quarter of previous fiscal. READ MORE12:41 PMBull market in 2008 and now: Top five companies, valuation, and more It has been a decade since the 2004-08 bull market peaked. The benchmark BSE Sensex touched a record of 20,873 on January 8, 2008, before the meltdown triggered by the US subprime crisis, which led to the global financial crisis. Ten years on, a new bull market is underway for the Indian market. The Sensex has nearly doubled since its 2013 lows and is currently inching towards 35,000. The market currently trades above its long-term average and it compares favourably to the 2008 period. Read more
12:22 PMWe prefer large-caps that could gain from govt initiatives: Manish Kumar The past year’s rally in the markets has taken valuations to the higher end of the historical band. In an interview, MANISH KUMAR, chief investment officer (CIO), ICICI Prudential Life Insurance Company, tells Business Standard the mid- and small-cap space looks frothy. So, one has to be prudent in investment decisions. Click here for full interview
12:15 PMWholesale price index-based inflation eases to 3.58% in December from 3.93% in November 2017
12:02 PMSectoral Trend
11:44 AMHDFC hits record high as board approves Rs 130 billion fund raising plan Housing Development Finance Corporation (HDFC) hit lifetime high of Rs 1,832, up 4% on BSE after its board approved fund raising worth Rs 130 billion through a combination of a preferential allotment and Qualified Institutions Placement (QIP). The stock surpassed its previous high of Rs 1,805 touched on November 7, 2017 in intra-day trade. Read more11:30 AMNPA disclosure rules: Sebi keen on implementing a revised proposal The Securities and Exchange Board of India (Sebi) has approached the Prime Minister’s Office (PMO) and the Ministry of Corporate Affairs (MCA) to look into its proposal mandating listed companies to make public disclosures within a day of loan defaults. According to sources, the market regulator is keen on implementing its initial proposal with certain changes. The new rule was to come into effect in October 2017 but got deferred due to hurdles in its implementation. Read more11:17 AMPolaris Consulting surges on higher indicative price for delisting Polaris Consulting & Services hit a 52-week high of Rs 422, up 8% on BSE in intra-day trade, after Virtusa Consulting Services Private Limited (Acquirer), the promoter of the company set Rs 370 per share as indicative price for delisting of shares from the stock exchanges. The indicative price is 67.6% premium to Rs 220.73 per equity share, at which the acquirer 78.65% of the voting share capital of the company in March 2016 from the erstwhile promoters and public shareholders and it is 59.2% premium to the floor price of 232.37, as determined in accordance with the Sebi delisting regulations, Virtusa Consulting Services Private Limited said in a regulatory filing. Read more11:00 AMMarket Check
S&P BSE Sensex 34,921.63 Up 0.95% Nifty 50 10,768.35 Up 0.82% S&P BSE 200 4,793.41 Up 0.81% Nifty 500 9,737.90 Up 0.75% S&P BSE Mid-Cap 18,235.44 Up 0.54% S&P BSE Small-Cap 20,161.09 Up 0.84%10:40 AMBhansali Engineering Polymers up 5% on robust Q3 results Bhansali Engineering Polymers was locked in upper circuit of 5% at Rs 209 on BSE after the company reported nine-fold jump in net profit at Rs 291 million for the quarter ended December 2017 (Q3FY18), on back of strong operational income. The company engaged in specialty chemicals business had profit of Rs 31 million in the same quarter last fiscal. Read more10:23 AMRipple: it's a potential tech giant, not a Bitcoin-like cryptocurrency Ripple is nothing like bitcoin. Anybody who believes they are getting in on the next Bitcoin when buying Ripple is hugely mistaken. Ripple is not a cryptocurrency and should rather be viewed as a technology services provider which should ideally be listed on NASDAQ. Another aspect which Ripple enthusiasts forget is that, in many senses, Ripple is not truly decentralised and has a strong control over its inner workings. Ripple uses a novel "consensus algorithm" to validate transactions, and it requires computers to identify themselves and obtain permission to participate in the currency's network. This stands in stark contrast to Bitcoin, where any computer is allowed to join. Read more
10:09 AMIDFC - Capital First merger impact
10:05 AMCapital First hits 52-week high on merger with IDFC Bank Capital First hit a 52-week high of Rs 901, up 8% on BSE in early morning trade after the company engaged in financial services business announced that its board approved the merger of company with IDFC Bank. IDFC Bank and Capital First on Saturday, January 13, 2018 announced that the boards of directors of IDFC Bank and Capital First at their respective meetings held on January 13, 2018, approved a merger of Capital First with IDFC Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital First, the lenders said in separate filings to the exchanges. READ MORE09:51 AMP-notes investment drops to Rs 1.28 lakh cr in Nov Overall investments into the Indian capital market through participatory notes (P-notes) fell to Rs 1.28 lakh crore at November-end after witnessing a rise in the previous month. Total value of P-notes investment in Indian markets - equity, debt and derivatives - declined to Rs 1,28,639 crore at November-end from Rs 1,31,006 crore at the end of October, according to market regulator Sebi data.09:37 AMEarnings impact: Infosys
09:30 AMSectoral Trends
Industrial activity in the country, as measured by the Index of Industrial Production (IIP), brought some cheer, rising to a 25-month high of 8.4% in November from 2.2% the previous month.
Meanwhile, Inflation based on wholesale prices eased to 3.58% in December 2017 as prices of food articles declined even as fuel cost witnessed a surge. The inflation was 3.93% in November 2017 and 2.10% in December 2016.
Asia shares ex-Japan hit historic highs after Wall Street extended its record-breaking run as banks reported solid fourth-quarter earnings and robust retail sales drove investor optimism about economic growth.CATCH ALL THE LIVE UPDATES03:43 PMNifty Bank hits record high
03:38 PMSectoral Trends
03:36 PMSensex top gainers and losers
03:33 PMMarket at close
Benchmark indices ended at new closing highs on Monday led by stocks of private lenders, with better-than-expected growth in industrial output and a global equities rally boosting sentiment. The S&P BSE Sensex ended at 34,843, up 251 points while the broader Nifty50 index settled the day at 10,741, up 60 points03:19 PMPE investments jump 55% to all-time high of $24 bn across 591 deals in 2017 Private equity firms invested $23.8 billion across 591 deals in 2017, making it the biggest year for PE investments in India, says a report. According to deal tracker Venture Intelligence, the investment value is 39 per cent higher than the previous high of $17.1 billion (recorded in 2015) and 55 per cent higher than $15.4 billion invested during 2016. Read more03:10 PMInfosys Q3 results: Volume growth provides stability to performance The third quarter results of FY18 results for all IT companies will be driven by seasonality and hence will be muted as compared to the results posted in H1FY2018. We expect the top-tier companies to grow 0.9-2.5% Q-o-Q, during the quarter. Infosys was not expected to deliver any extraordinary results for the quarter, especially when the company had already downgraded its full-year guidance to 5.5-6.5% y-o-y CC growth, which implies an ask rate of 0.4-1.6% CC Q-o-Q growth for H2FY2018. For the quarter, we went with the expectations that the company will post 1% sequential growth in US dollar revenues to $2,755 million. EBITDA margins were expected to show a downtick of about 7bps Q-o-Q to 26.7%, while EBIT was expected to have a downtick of 39 bps Q-o-Q to end the period at 23.8%, towards the lower end of the guided 23-25%. Consequently, PAT was expected to be at Rs 35.9 billion, a dip of 3.7% Q-o-Q. Read more
03:03 PMKodakOne blockchain and crypto coin: A new kind of intellectual property? It’s easy to be a bit amused about Kodak’s new blockchain and cryptocurrency, the KodakOne. The old photography company is the classic case of a firm that failed to keep up with technological change. But now Kodak is exploiting one of the most interesting characteristics of the blockchain (the technology behind Bitcoin) to reshape how we understand and manage intellectual property. Read more02:46 PMLa Opala RG soars 12% on bonus issue plan La Opala RG has moved higher by 12% to Rs 694 on BSE in noon deal trade after the houseware company said that its board will meet on February 5, 2018 to consider issue of bonus shares. “In the next meeting of the board of directors of La Opala RG scheduled for 5th February, 2018, the board of directors may consider issue of bonus shares to the shareholders of the company which, if approved, will be subject to applicable regulatory provisions and the approvals of shareholders and others as may be required for the same,” La Opala RG said in a regulatory filing. Read more02:30 PMCapital expenditure done, Reliance Industries now eyes debt reduction In June 2011, at Reliance Industries’ (RIL’s) 37th annual general meeting (AGM), Chairman and Managing Director Mukesh Ambani had told shareholders that RIL would be a “debt-free” company. Ten months later, RIL was virtually debt-free on a net-cash basis at the consolidated level, after considering its cash and bank balances as well as investments. With its capital expenditure plan nearly completed, India's most valuable company is once again in a position in which it will start reducing debt. Click here for full story02:17 PMHDFC Group shares rally; HDFC, HDFC Bank, HDFC Standard Life hits new high Shares of HDFC Group companies were in focus with most of the frontline stocks – HDFC Bank, Housing Development Finance Corporation (HDFC) and HDFC Standard Life Insurance – hitting their respective new highs on the National Stock Exchange (NSE) in intra-day trade on Monday. These three stocks were up in the range of 2% to 7%, while Gruh Finance was trading 1% higher at Rs 510. On comparison, the Nifty 50 index was up 0.66% at 10,752 points at 01:55 pm. Read more
02:00 PMSoftBank mulls $18-bn Japan wireless unit IPO to fund its tech investments SoftBank Group Corp said on Monday it was considering listing its Japanese wireless business, seeking to raise a reported $18 billion in a move that would accelerate the conglomerate's transformation into one of the world's biggest tech investors. A spin-off – potentially the biggest IPO by a Japanese company in nearly two decades – would also give the unit more autonomy as well as help investors with valuing the business and its parent. Read more
01:44 PMHDFC: Impact of Fund raising
01:30 PMMarket Check
Index Current Pt. Change % Change S&P BSE SENSEX 34,873.36 +280.97 +0.81 S&P BSE SENSEX 50 11,224.88 +78.59 +0.71 S&P BSE SENSEX Next 50 37,527.41 -30.85 -0.08 S&P BSE 100 11,268.80 +64.22 +0.57 S&P BSE Bharat 22 Index 3,811.71 +4.46 01:16 PMSebi has approved appointment of Vijay Kumar as NCDEX MD & CEO Market regulator Sebi has approved appointment of Vijay Kumar as Managing Director and CEO of the countrys largest agri-commodity bourse NCDEX, a top official of the exchange said. Kumar, a former chief business officer at NCDEX, is likely to assume the office next week. The exchange's selection committee had picked his name for the MD and CEO's post from a list of 11 candidates. READ MORE12:58 PMMuthoot Capital Services zooms 20% on strong Q3 results Muthoot Capital Services was locked in upper circuit of 20% to Rs 799 also its record high on BSE, after the company reported a more than doubled net profit at Rs 157 million for the quarter ended December 2017 (Q3FY18). The company engaged in the business of financing had profit of Rs 64 million in the same quarter last year. Net interest income (operational revenue minus finance costs) grew 68% at Rs 730 million against Rs 434 million in the corresponding quarter of previous fiscal. READ MORE12:41 PMBull market in 2008 and now: Top five companies, valuation, and more It has been a decade since the 2004-08 bull market peaked. The benchmark BSE Sensex touched a record of 20,873 on January 8, 2008, before the meltdown triggered by the US subprime crisis, which led to the global financial crisis. Ten years on, a new bull market is underway for the Indian market. The Sensex has nearly doubled since its 2013 lows and is currently inching towards 35,000. The market currently trades above its long-term average and it compares favourably to the 2008 period. Read more
12:22 PMWe prefer large-caps that could gain from govt initiatives: Manish Kumar The past year’s rally in the markets has taken valuations to the higher end of the historical band. In an interview, MANISH KUMAR, chief investment officer (CIO), ICICI Prudential Life Insurance Company, tells Business Standard the mid- and small-cap space looks frothy. So, one has to be prudent in investment decisions. Click here for full interview
12:15 PMWholesale price index-based inflation eases to 3.58% in December from 3.93% in November 2017
12:02 PMSectoral Trend
11:44 AMHDFC hits record high as board approves Rs 130 billion fund raising plan Housing Development Finance Corporation (HDFC) hit lifetime high of Rs 1,832, up 4% on BSE after its board approved fund raising worth Rs 130 billion through a combination of a preferential allotment and Qualified Institutions Placement (QIP). The stock surpassed its previous high of Rs 1,805 touched on November 7, 2017 in intra-day trade. Read more11:30 AMNPA disclosure rules: Sebi keen on implementing a revised proposal The Securities and Exchange Board of India (Sebi) has approached the Prime Minister’s Office (PMO) and the Ministry of Corporate Affairs (MCA) to look into its proposal mandating listed companies to make public disclosures within a day of loan defaults. According to sources, the market regulator is keen on implementing its initial proposal with certain changes. The new rule was to come into effect in October 2017 but got deferred due to hurdles in its implementation. Read more11:17 AMPolaris Consulting surges on higher indicative price for delisting Polaris Consulting & Services hit a 52-week high of Rs 422, up 8% on BSE in intra-day trade, after Virtusa Consulting Services Private Limited (Acquirer), the promoter of the company set Rs 370 per share as indicative price for delisting of shares from the stock exchanges. The indicative price is 67.6% premium to Rs 220.73 per equity share, at which the acquirer 78.65% of the voting share capital of the company in March 2016 from the erstwhile promoters and public shareholders and it is 59.2% premium to the floor price of 232.37, as determined in accordance with the Sebi delisting regulations, Virtusa Consulting Services Private Limited said in a regulatory filing. Read more11:00 AMMarket Check
S&P BSE Sensex 34,921.63 Up 0.95% Nifty 50 10,768.35 Up 0.82% S&P BSE 200 4,793.41 Up 0.81% Nifty 500 9,737.90 Up 0.75% S&P BSE Mid-Cap 18,235.44 Up 0.54% S&P BSE Small-Cap 20,161.09 Up 0.84%10:40 AMBhansali Engineering Polymers up 5% on robust Q3 results Bhansali Engineering Polymers was locked in upper circuit of 5% at Rs 209 on BSE after the company reported nine-fold jump in net profit at Rs 291 million for the quarter ended December 2017 (Q3FY18), on back of strong operational income. The company engaged in specialty chemicals business had profit of Rs 31 million in the same quarter last fiscal. Read more10:23 AMRipple: it's a potential tech giant, not a Bitcoin-like cryptocurrency Ripple is nothing like bitcoin. Anybody who believes they are getting in on the next Bitcoin when buying Ripple is hugely mistaken. Ripple is not a cryptocurrency and should rather be viewed as a technology services provider which should ideally be listed on NASDAQ. Another aspect which Ripple enthusiasts forget is that, in many senses, Ripple is not truly decentralised and has a strong control over its inner workings. Ripple uses a novel "consensus algorithm" to validate transactions, and it requires computers to identify themselves and obtain permission to participate in the currency's network. This stands in stark contrast to Bitcoin, where any computer is allowed to join. Read more
10:09 AMIDFC - Capital First merger impact
10:05 AMCapital First hits 52-week high on merger with IDFC Bank Capital First hit a 52-week high of Rs 901, up 8% on BSE in early morning trade after the company engaged in financial services business announced that its board approved the merger of company with IDFC Bank. IDFC Bank and Capital First on Saturday, January 13, 2018 announced that the boards of directors of IDFC Bank and Capital First at their respective meetings held on January 13, 2018, approved a merger of Capital First with IDFC Bank. Pursuant to the merger which is subject to regulatory and shareholder approvals, IDFC Bank will issue 139 shares for every 10 shares of Capital First, the lenders said in separate filings to the exchanges. READ MORE09:51 AMP-notes investment drops to Rs 1.28 lakh cr in Nov Overall investments into the Indian capital market through participatory notes (P-notes) fell to Rs 1.28 lakh crore at November-end after witnessing a rise in the previous month. Total value of P-notes investment in Indian markets - equity, debt and derivatives - declined to Rs 1,28,639 crore at November-end from Rs 1,31,006 crore at the end of October, according to market regulator Sebi data.09:37 AMEarnings impact: Infosys
09:30 AMSectoral Trends
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