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Mar 01, 2019 03:51 PM IST | Source: Moneycontrol.com

Closing bell: Nifty snaps 3-day fall, Sensex gains 196 pts; Midcap, Smallcap indices outshine

The broader markets closed strong. All sectoral indices ended in the green.

  • Mar 01, 03:45 PM (IST)

    Indraprastha Gas has received PNGRB letter for development of city gas distribution network for 6 districts.

  • Mar 01, 03:40 PM (IST)

    Market Closing

    The market snapped its three-day losing streak and closed half a percent higher, but the broader markets staged smart show on strong breadth.

    The 30-share BSE Sensex rallied 196.37 points to 36,063.81 and the Nifty50 gained 71 points at 10,863.50.

    About three shares advanced for every share falling on the BSE.

    IndusInd Bank, ICICI Bank, HDFC, L&T and Infosys were leading contributors while Bharti Airtel, Axis Bank, UPL and Bajaj Auto were under pressure.

    Among broader space, TVS Motor Company, Jet Airways, NALCO, Union Bank, Vijaya Bank, SAIL, RCF, Wockhardt, Dish TV, Meghmani Organics and OBC rallied 4-11 percent.

    Marico, Motherson Sumi and Havells India were under pressure.

  • Mar 01, 03:29 PM (IST)

    Monthly Technical Outlook by ICICI Securities

    Nifty Midcap index has bounced from long term 200 weeks EMA which was held on multiple occasions off 2008. Since its inception in 2004, corrective cycles in Nifty Mid cap and Small cap indices have not lasted for more than 14 months, which makes us believe both indices have approached maturity of price-wise and time-wise correction

    Going ahead, we expect Nifty resolve out of upper band of consolidation (10,900), unfolding next leg of up move towards 11,400 in coming months. Meanwhile volatility would remain high in the run up to election, which should be capitalized as an incremental buying opportunity in the range of 10,750-10,600. In the process, we expect Banking, consumption and metals to outperform.

    However, despite host of negative news, index managed to form a sequential trough (10,585), indicating buying demand at elevated support levels underpinned by improving market breadth, in turn signifying market resilience.

  • Mar 01, 03:21 PM (IST)

    Just In

    Wockhardt receives US FDA approval for Prostate cancer drug

  • Mar 01, 03:19 PM (IST)

    Mindtree Stake Sale

    Private equity firm Baring and infrastructure major L&T are said to lead bidding for major stake in Mindtree, the IT company, reports CNBC-TV18 quoting Agencies.

    Bidders are said to offer upto Rs 1,000 per shares.

      Mindtree Stake Sale  

 Private equity firm Baring and infrastructure major L&T are said to lead bidding for major stake in Mindtree, the IT company, reports CNBC-TV18 quoting Agencies. 

 Bidders are said to offer upto Rs 1,000 per shares.
  • Mar 01, 03:09 PM (IST)

    ABB India CY18 Earnings

    Profit grew by 12.73 percent year-on-year to Rs 254.2 crore and revenue increased 6.4 percent to Rs 6,690.12 crore in full year 2018.

  • Mar 01, 02:57 PM (IST)

    Earnings

    ABB India has reported profit at Rs 128.64 crore for the quarter ended December 2018, registering a 58 percent growth compared to Rs 81.63 crore in same period last year.

    Revenue during the quarter grew by 15 percent to Rs 1,966.3 crore, compared to Rs 1,709 crore in corresponding period last fiscal.

    At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) shot up 48 percent to Rs 215.4 crore and margin expanded by 250 bps to 11 percent 

  • Mar 01, 02:49 PM (IST)

    NCC has received five new orders totaling to Rs 4,088 crore (exclusive of GST) in the month of February, 2019. 

  • Mar 01, 02:29 PM (IST)

    Signet Industries has commissioned its world class third generation equipment for production of double-wall corrugated HDPE/PP pipes.

  • Mar 01, 02:23 PM (IST)

    SEBI allows MFs, portfolio managers to trade in commodity derivatives

  • Mar 01, 02:16 PM (IST)

    SEBI raises leverage limit for InvITs to 70% of assets from 49%

  • Mar 01, 02:07 PM (IST)

    PI Industries hits 52-week High

    PI Industries said it has received ISO 27001:2013 Certification from British Standards Institute for implementation of information security based on global standards.

  • Mar 01, 02:03 PM (IST)

    Urja Global Gains 6%

    Company has signed a Memorandum of Understanding (MOU) with Economic Development Board-Andhra Pradesh for the development of integrated plant of electronic vehicles & lithium ion battery including skilling in the state of Andhra Pradesh.

  • Mar 01, 01:53 PM (IST)

    CIMB Upgrades Yes Bank:

    CIMB has upgraded Yes Bank to add and also raised price target to Rs 300 (from Rs 230 earlier) as concerns abated on asset quality and the top management of the bank.

    These were the biggest overhangs on the stock.

    The global research house said the nil divergence report of RBI and appointment of MD & CEO will result in a rerating of the stock as valuations remain attractive at 1.5x FY20F P/BV.

    The fundamentals of the bank remain strong with robust loan growth, stable NIMs and asset quality, it added.

    Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

  • Mar 01, 01:37 PM (IST)

    Market Off Day's High:

    Benchmark indices were off their day's high in afternoon with the Sensex hovering around 36,000 levels.

    Infosys, SBI, Adani Ports, L&T, HDFC, IndusInd Bank, ICICI Bank and Yes Bank were positive contributors while Reliance Industries, Axis Bank, Bharti Airtel, Asian Paints, Titan Company and Cipla were under pressure.

    The 30-share BSE Sensex gained 119.95 points at 35,987.39 and the Nifty50 rose 41.20 points to 10,833.70.

    The broader markets remained strong with the Nifty Midcap index rising over a percent and Smallcap index climbing 2 percent amid strong breadth.

  • Mar 01, 01:28 PM (IST)

    SBI Life Insurance Block Deal

    BNP Paribas Cardif S A has successfully sold 9,22,52,908 equity shares of SBI Life Insurance, cumulatively representing 9.2 percent of the total issued and paid-up equity share capital.

  • Mar 01, 01:25 PM (IST)

    PSU Banks Rally

      PSU Banks Rally
  • Mar 01, 01:02 PM (IST)

    February Auto Sales

    Mahindra & Mahindra said its auto sales for February 2019 at 56,005 vehicles increased 10 percent, compared to 51,127 units sold during February 2018.

    Domestic sales grew by 9 percent year-on-year to 52,915 vehicles in month gone by.

    The passenger vehicles segment (which includes UVs, Cars and Vans) registered a 17 percent YoY growth at 26,109 vehicles and commercial vehicles segment showed a marginal growth at 21,154 vehicles against 20,946 vehicles in February 2018.

  • Mar 01, 12:55 PM (IST)

    NCL Industries on Buyers' Radar:

    Company said installation of the readymade doors plant set up at Malkapur (V) near Hyderabad with a capacity to produce 1000 doors per day in technical collaboration with AGT (Turkey) has been successfully completed.

    "We are scheduled to inaugurate the plant on March 13, 2019," it added.

     NCL Industries on Buyers' Radar : 

 Company said installation of the readymade doors plant set up at Malkapur (V) near Hyderabad with a capacity to produce 1000 doors per day in technical collaboration with AGT (Turkey) has been successfully completed. 

 "We are scheduled to inaugurate the plant on March 13, 2019," it added.
  • Mar 01, 12:44 PM (IST)

    Fund Raising

    Shriram Transport Finance Company said it is considering raising of funds through various options of borrowings including by way of issue of securities in onshore/offshore market by public issue and private placement basis.

    Based on the market conditions the meeting(s) of Banking and Finance Committee/Debt Issuance Committee - Public NCDs / Bond Issuance Committee will be held during the month ending March 31, 2019 to consider and approve the terms and conditions of issue of securities.

  • Mar 01, 12:30 PM (IST)

    Just In

    SML Isuzu said it sold 1,280 vehicles in February, higher by 32.8 percent compared to 965 units sold in same month last year.

      Just In  

 SML Isuzu said it sold 1,280 vehicles in February, higher by 32.8 percent compared to 965 units sold in same month last year.
  • Mar 01, 12:18 PM (IST)

    Welspun Enterprises Climbs 11%

    Welspun Enterprises is an asset recycling infrastructure model, offering investors a margin of safety and growth opportunity at an attractive valuation, Antique Stock Broking said.

    Unlike other companies in the road sector, where burgeoning order backlog and new project bids could possibly stretch balance sheets, WEL is a company that has developed assets, even beyond roads, sold them, and bid for new projects. And it has all happened with adequate cushion of cash in hand, it added.

    Even better, WEL has an Rs 5,750 crore order backlog in hand. Further, between FY18 and FY21, the company can deliver a revenue/EBITDA/net profit growth of 59 /90 /48 percent CAGR respectively, said Antique which has initiated coverage with a buy.

  • Mar 01, 12:04 PM (IST)

    SBI Life Insurance in Focus

    The insurance company said CA Emerald Investments has acquired 9 percent stake in the firm via open market.

  • Mar 01, 12:01 PM (IST)

    Rollover in Nifty

    Rollover in Nifty futures declined at 60 percent (last month 62 percent), below 6-month average of 71 percent, Aditya Birla Capital said.

    Nifty was down 0.36 percent in February.

    On other hand, market wide rollover stood at 86 percent (last month was 87 percent).

  • Mar 01, 11:57 AM (IST)

    Moody's says India To Grow at 7.3% in 2019, 2020

    Indian economy is expected to grow at 7.3 percent in calendar year 2019 and 2020, and the government spending announced ahead of elections this year which will support near-term growth, Moody's said.

    The US-based rating agency said that the country is less exposed to a slowdown in global manufacturing trade growth than other major Asian economies and emerging markets and is poised to grow at a relatively stable pace in the two years. (Source: PTI).

  • Mar 01, 11:32 AM (IST)

    JP Morgan upgraded its rating on state-owned steel maker SAIL to overweight from neutral earlier and set a price target at Rs 78, implying 61.5 percent potential upside from Thursday's closing levels.

    The global research house upgraded the stock rating on favourable risk-reward. "At 0.5x price-to-book value, the market has not been pricing in higher iron ore & volumes."

    SAIL & Tata Steel will benefit from higher steel prices, it said.

    Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

     JP Morgan upgraded its rating on state-owned steel maker SAIL to overweight from neutral earlier and set a price target at Rs 78, implying 61.5 percent potential upside from Thursday's closing levels. 

 The global research house upgraded the stock rating on favourable risk-reward. "At 0.5x price-to-book value, the market has not been pricing in higher iron ore & volumes." 

 SAIL & Tata Steel will benefit from higher steel prices, it said. 

   Disclaimer : The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.
  • Mar 01, 11:25 AM (IST)

    Aurobindo Pharma Says USFDA Observations for Unit IV Not Related to Data Integrity

    The United States Food and Drug Administration had conducted an inspection at company's Unit IV, a formulation manufacturing facility located at Pashamylaram, Hyderabad during December 3 to 14, 2018.

    Company has received a 'Form 483' with two observations.

    "None of the observations are related to data integrity or repeated observations and the observations are more procedural in nature," it said.

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