- Trending
- #TelecomAGRDues
- #Coronavirus
- #Budget2020
- SENSEXNIFTY 50
Home 
Markets
Markets Markets| Index | Price | Chng | %Chng |
|---|
| NIFTY BANK | 30,455.10 | -487.75 | -1.58 |
| NIFTY IT | 16,461.80 | -187.60 | -1.13 |
| NIFTY PSE | 2,903.60 | -70.40 | -2.37 |
| NIFTY AUTO | 7,429.10 | -268.80 | -3.49 |
These stocks hit their 52-week highs or lows on February 24
The jitters of the deadly disease coronavirus are felt across the world. All sectors especially metal and pharmaceutical have been the most affected due to their direct dependence on China for raw material imports. One such stock that has continued to rally despite direct dependence on the virus affected country is Solara Active Pharma Sciences.
The small-cap stock this year has already surged 69 percent and has rallied about 93 percent since the last one year. In fact, the stock touched it's 52-week high and rose over 6 percent intraday today after receiving zero 483 observations from the US FDA for its Puducherry and Mangalore facilities. READ MORE
Shree Cement will be included in the Nifty50 index on March 27, replacing Yes Bank. Shares of the cement major have risen more than 1,000 percent in the last ten years and the scrip is among the most expensive cement stocks in the world.
Shree Cement has been trading at 18x FY21E EV/Ebitda, which is a premium to its past 10-year average. It is also at a 40 percent premium to its large-cap peer UltraTech as against the past-five-year average of 15 percent, Motilal Oswal said in a report. Shree Cements delivered healthy EBITDA growth in Q3FY20, driven by both robust pricing and lower operating expenses in the grey cement business. READ MORE
The Nifty PSU Bank index extended its decline in 2020 as well. After plunging 17 percent in 2019, the index has lost 15 percent in 2020, on a year-to-date (YTD) basis. The public sector lenders have been under pressure for a while, despite recapitalisation and rate cuts, on asset quality issues, increase in bad loans, subdued credit growth, and low visibility of profit in the near future.
All constituents in the Nifty PSU Bank index were negative for the year 2020. J&K Bank, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab & Sind Bank, and Punjab National Bank plunged between 20 percent and 34 percent in this period. Other public sector lenders like Bank of Baroda, Indian Bank, UCO Bank, Bank of India, and Bank of Maharashtra also declined over 10 percent each. Meanwhile, Central Bank of India and State Bank of India were down 6 percent and 2 percent, respectively. READ MORE
Gold prices have been soaring and the global ETF holdings are at record high but India has not been very strong when it came to paper gold or ETF buying. The last three or four years have seen more redemption than buying but January 2020 was the best in the last 7 years. Coronavirus has also led to uptick in gold prices.
Moreover, the global treasury yields continued to decline and the decline in US dollar had also led surge in gold prices. Various banks including Citi reported that in the next 12-24 months, they expect gold prices to head to USD 2,000 per ounce and have upped their forecast for this year to around USD 1,700 per ounce.
David Fergusson, Chairman of Global Precious Metals is also of the view that gold prices would continue to remain strong. “The likelihood is that we will hit the all-time high in dollar terms this year and thereafter, the higher projections that you are seeing could be hit over the course of next 2-3 years,” he said. READ MORE
The share price of Suzlon Energy hit the upper circuit on Monday amid reports that State Bank of India has approved the company’s proposed resolution plan. Under the resolution plan, the company’s Rs 12,700 crore debt will be converted into sustainable and unsustainable debt and will be repaid over 20 years. Also, the lenders will take a haircut 65 percent on the debt. In the first 10 years, Suzlon Energy will repay sustainable debt, which is 32-35 percent of the total. READ MORE
Just three days after issuing a voluntary-action-indicated (VAI) status for Aurobindo Pharma's Unit IV, the US Food and Drug Administration on Friday told the company that the inspection remains open and is being reviewed. The stock, which had risen almost 20 percent following the VAI status, dived. The BSE Healthcare Index was down 1.5 percent.
Vishal Manchanda, pharma analyst at Nirmal Bang Institutional Equities, and Cyndrella Carvalho, pharma analyst at Centrum Broking Equities, have shared their views on the stock and the sector. “The FDA move on Aurobindo Pharma is shocking. It was surprising to see the VAI, so the status getting reversed was completely shocking for everybody. The scrip has given up all the gains. But if you look at the valuations, they seem to be discounting issues more than it is required. So if you look at FY21, a large part of the earnings growth that everybody is building in is on account of Sandoz integration. So that is more crucial for Aurobindo’s earnings growth than the unit-IV injectable facility. It is certainly important as it is part of the organic growth that is going to come,” Manchanda said. READ MORE
Shares of JSW Steel, Hindalco Industries, Vedanta, Tata Steel and SAIL, among other metal companies, fell 3-5 percent on Monday as concerns over the impact of coronavirus on global economy renewed following a spike in cases beyond China. Among stocks, Hindalco Industries slipped 4.50 percent, JSW Steel plunged 4.03 percent, Tata Steel fell 3.27 percent, Vedanta declined 3.76 percent, while Jindal Steel and Power (JSPL) dipped more than 5 percent on the NSE. SAIL and MOIL also declined over 2 percent each. READ MORE
MR Infrastructure shares rallied 10 percent to hit a fresh 52-week high on Monday after the company entered into a strategic partnership with France’s Groupe ADP to sell 49 percent stake in its airport business. The scrip surged 11.65 percent to touch a 52-week high of Rs 26.35 on the BSE.
GMR Infrastructure will raise Rs 10,780 crore and receive an amount of Rs 5,248 crore immediately from Groupe ADP. The company also received approval from the Competition Commission of India (CCI) for the transaction. The regulator's clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions. READ MORE
Aurobindo Pharma shares hit the lower circuit on Monday after the US FDA rescinded the 'Voluntary Action Indicated' (VAI) letter for the company's Unit-IV in Hyderabad within three days of its issuance. The company also said that that the inspection is still open, with the status under review. Aurobindo Pharma's stock price plunged 10 percent to Rs 539.60 per share intraday on BSE.
Given this development, there is now a high risk of an official action indicated (OAI) for the unit, said Kotak Securities in a report. The brokerage expects the stock to react sharply, particularly, given the 20 percent stock price rally on the back of the VAI announcement. READ MORE
According to media reports, the Securities and Exchange Board of India (Sebi) has found out violation of listing and disclosure norms by Sun Pharmaceutical Industries as the drug major did not reveal the related-party transaction with Aditya Medisales.
The market regulator said the reason for the violation of the listing and disclosure norms was not revealing the related party transaction with Aditya Medisales, which is basically an entity which had owned by Sun Pharma's promoters and distributes its formulations in India. As of now, there are no direct comments from Sun Pharma. READ MORE
Oil prices tumbled nearly 3 percent towards a one-week low on Monday as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand. Global shares also extended losses as concerns about the impact of the new virus grew, with the number of infections jumping in South Korea, Italy and Iran. Brent crude fell by $1.69 or 2.9 percent to $56.81 a barrel by 0158 GMT. U.S. crude futures fell by $1.40 or 2.6 percent to $51.98. READ MORE
Gold prices climbed more than 2 percent on Monday to their highest since February 2013, as a spike in coronavirus cases in several countries outside China heightened worries about a hit to global economic growth, prompting a flight to safe havens. Spot gold was up 1.1 percent at $1,661.86 per ounce by 0304 GMT, after climbing to $1,678.58 earlier in the session. U.S. gold futures rose 1 percent to 1,664.60. READ MORE
| Company | Price | Chng | %Chng |
|---|---|---|---|
| IRCTC | 1,923.50 | -6.55 | -0.34 |
| SBI | 322.95 | -4.70 | -1.43 |
| Reliance | 1,444.95 | -41.00 | -2.76 |
| Indiabulls Hsg | 330.85 | -7.35 | -2.17 |
| HDFC Bank | 1,209.95 | -7.15 | -0.59 |
| Company | Price | Chng | %Chng |
|---|---|---|---|
| IRCTC | 1,922.90 | -4.85 | -0.25 |
| Varun Beverages | 808.00 | -11.25 | -1.37 |
| Indiabulls Hsg | 330.80 | -7.50 | -2.22 |
| Maruti Suzuki | 6,468.20 | -286.45 | -4.24 |
| Reliance | 1,444.85 | -40.65 | -2.74 |
| Company | Price | Chng | %Chng |
|---|---|---|---|
| JSW Steel | 258.95 | -22.85 | -8.11 |
| Vedanta | 133.20 | -9.15 | -6.43 |
| Tata Steel | 415.45 | -28.10 | -6.34 |
| Hindalco | 179.05 | -10.90 | -5.74 |
| Tata Motors | 150.65 | -7.85 | -4.95 |
| Company | Price | Chng | %Chng |
|---|---|---|---|
| Tata Steel | 415.35 | -28.35 | -6.39 |
| Tata Motors | 150.60 | -7.85 | -4.95 |
| ONGC | 98.00 | -4.85 | -4.72 |
| Maruti Suzuki | 6,468.20 | -286.45 | -4.24 |
| Titan Company | 1,277.40 | -45.30 | -3.42 |
| Price | Chng | %Chng | |
|---|---|---|---|
| USD/INR | 71.92 | +0.27 | +0.38 |
| EUR/INR | 78.07 | +0.16 | +0.21 |
| GBP/INR | 92.97 | -0.16 | -0.17 |
| JPY/INR | 0.65 | +0.01 | +0.93 |
| Price | Chng | %Chng | |
|---|---|---|---|
| MCX GOLD 03APR2020 | 43515.00 | +849.00 | +1.99 |
| MCX SILVER 05MAR2020 | 49055.00 | +751.00 | +1.55 |
| MCX CRUDEOIL 19MAR2020 | 3684.00 | -175.00 | -4.53 |
| MCX NATURALGAS 25FEB2020 | 132.60 | -4.80 | -3.49 |
Ask Our Experts 
