Nifty ended April F&O expiry below 11,650, dragged by banking, metal and auto stocks, as Brent crude prices rose above $75 per barrel for the first time in 2019.
Apr 25, 2019
15:40
Sectoral Trend: All indices except Nifty Realty ended in red
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Apr 25, 2019
15:39
Top Nifty gainers and losers: Ultratech Cement top gainer, Bharti Infratel slips the most
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Apr 25, 2019
15:36
Closing Bell: Sensex, Nifty end lower as crude prices hit $75 per barrel
Benchmark indices ended lower on the expiry day, dragged by index heavyweights like RIL, HDFC twins, ICICI Bank, among others, as Brent crude prices rose above $75 per barrel for the first time in 2019. Negative sentiment in the global markets also affected the indices. The BSE Sensex settled at 38,731, down 324 points, while the broader NSE Nifty50 was at 11,642, falling 84 points. Among broader markets, Nifty Midcap indec fell 0.4% and Nifty Smallcap index was flat. Grasim, Ultratech Cement, BPCL, Dr Reddy's and Bharti Airtel were the top gainers on the Nifty, while, Bharti Infratel, Tata Steel, Vedanta, Maruti and Hindalco fell the most on the index. All sectoral indices, except Nifty Realty ended the day in red. Nifty Metal fell the most followed by banking indices, which fell over 1 percent each. Nifty FMCG and Nifty Auto also slipped during the day.
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Apr 25, 2019
15:23
Indiabulls Ventures Q4 Earnings
Company's net profit nearly doubled to Rs 109.8 crore in March quarter, against Rs 54.9 crore in same period last year. Revenue from operations jumped 55.4 percent to Rs 600 crore during the quarter YoY.
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Apr 25, 2019
15:09
RC Bhargava says that he aimed for double-digit growth in FY19##RC Bhargava says that he aimed for double-digit growth in FY19
#4QWithCNBCTV18 | @Maruti_Corp sees a decline in the profit; R. C. Bhargava, CEO & Chairman of the company explains why, says Rupee depreciation, commodity prices, commissioning of second line at Gujarat plant hit PAT for FY19 pic.twitter.com/o1VnrHgVVx
Here's why fund manager Pankaj Tibrewal of Kotak Mahindra AMC is positive on cement stocks
Pankaj Tibrewal, senior VP & fund manager at Kotak Mahindra AMC, shared his views on the fundamentals of the market. Tibrewal is positive on the cement sector. “Our broad thesis remains that over the next three to four years, supply will lack demand which has not been the case for the last five years. In our estimation, even if demand grows by 6-7 percent over the next couple of years, supply will grow at not more than 3-4 percent and that means higher capacity utilization and pricing power in the hands of manufacturers,” Tibrewal told CNBC-TV18 on Thursday. READ MORE
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Apr 25, 2019
14:32
Zydus Cadila receives final approval from USFDA to market Leflunomide Tablets
Zydus Cadila has received the final approval from the USFDA to market Leflunomide Tablets USP (US RLD — Arava Tablets), 10 mg and 20 mg, Cadila Healthcare said in its BSE filing. It will be manufactured at the group’s formulations manufacturing facility at Baddi. This medication is used to treat rheumatoid arthritis, a condition affecting multiple small and large joints of the body.
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Apr 25, 2019
14:16
Maruti reports choppy Q4 earnings; net profit, EBITDA & margin miss estimates##Maruti reports choppy Q4 earnings; net profit, EBITDA & margin miss estimates
Cash buffers extremely strong, 'fairly optimistic' about the future, says Indiabulls Housing
Indiabulls Housing Finance (IHFL) on Wednesday reported a 7 percent year-on-year (YoY) drop in net profit at Rs 1,006 crore for the fourth quarter ended March 31. Gagan Banga, VC and MD of Indiabulls Housing Finance, spoke to CNBC-TV18 about the company's financial results and growth prospects.
“Last two quarters were one of consolidation and risk management. The sector and the overall system was going through a lot of pain and we chose to be conservative up until about the middle of last quarter and since then we have been growing our book again. Liquidity of the company is very solid at over Rs 30,000 crore and that is way above what is normally required for the business. So where we are today, the ALM is extremely strong, the cash buffers are extremely strong and therefore we are fairly optimistic about the future,” Banga said on Thursday. READ MORE
Brent oil prices hits $75 for first time in 2019 amid tighter Iran sanctions
Brent crude oil on Thursday rose above $75 per barrel for the first time in 2019 in the wake of tightening sanctions on Iran, while gains in US prices were crimped by a surge in US supply. Brent crude futures rose to a 2019 high of $75.01 per barrel on Thursday and were at $74.90 per barrel at 0705 GMT, up 33 cents, or 0.4 percent, from their last close. US West Texas Intermediate (WTI) crude futures were at $65.94 per barrel, up 5 cents from their previous settlement. READ MORE
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Apr 25, 2019
13:05
Brokerages bullish on Ultratech Cement post Q4 results; stock rises 10% in 2 days
Brokerages remained bullish on Ultratech Cement after the company posted an over 100 percent rise year-over-year in its standalone net profit for the quarter ended March 31. The Aditya Birla group company posted a standalone net profit of Rs 1,017.47 crore in the fourth quarter of FY 2018-19, 108 percent up compared to Rs 487.95 crore in the same period last year.
Extending yesterday's gain, Ultratech Cement shares gained 5 percent in intra-day deals on Thursday. It has gained over 10 percent since Wednesday after the company disclosed results.
Brokerages have "buy" ratings on the stock and have raised its target price for the stock. Strong recovery in the company's operating performance after a long time and consistent approach to trim down the cost further augured well, said analysts. READ MORE
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Apr 25, 2019
12:50
Market Off Day's High
Benchmark indices were off day's high in afternoon as Brent crude futures, the international benchmark for oil prices, reclaimed $75 a barrel. The BSE Sensex rose 42 points to 39,099 and the Nifty50 gained 24 points at 11,750.
SpiceJet gains 5% as CEO Ajay Singh plans to get 40 Jet Airways aircraft on-board
SpiceJet rose over 5 percent after CEO Ajay Singh in an interview with CNBC TV18 said that they will be hiring more professionals from Jet Airways, and are also discussing to induct 15 of their aircraft. Singh also revealed plans to add 40 more aircraft from the ailing carrier.
“We are also planning to get 40 Jet aircraft on-board. Boeing expects clearances for technical upgrades in May, and could possibly compensate SpiceJet for loss of business, however, no expected amount has been decided yet”, he said. READ MORE
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Apr 25, 2019
12:14
Vodafone Idea says Rs 25,000-crore rights issue oversubscribed
Vodafone Idea on Thursday said its the subscription for its rights issue has exceeded the total issue size of Rs 25,000 crore, denying media reports that the issue was undersubscribed.
"The company would like to clarify that based on preliminary information received the total applications from ASBA (applications supported by blocked amount) and non-ASBA have exceeded the total issue amount of Rs 25,000 crore," Vodafone Idea said in an exchange filing. The country's largest telecom operator through the rights issue, which ran between April 10 and April 24, offered 2,000 crore new shares at Rs 12.50 apiece. READ MORE
Higher oil prices, strong dollar significant headwinds for India, says EM equity strategist Adrian Mowat
The decent earnings growth outlook, positive economic data and capital inflows are expected to support the equity market rally, said emerging market equity strategist Adrian Mowat. He said there is an expectation of a melt-up in equity markets, where bond markets do not look like an attractive place to be in.
However, there are some of the negative points that investors should keep an eye on. With regards to India, the oil market could prove to be tight in the summer months, he said. “The US is removing waivers on importing oil from Iran, also refineries are ramping up production ahead of the driving season,” he said, adding that DXY has rallied quite strongly. Watch interview here
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Apr 25, 2019
11:25
Nokia reports surprise first-quarter loss
Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core business, the networks unit. Having signalled back in January "a particularly weak Q1", Nokia reported a fall to an operating loss (non-IFRS) of 59 million euros ($66 million) from a profit of 239 million euros in the first quarter a year ago.
That compared with analysts' profit expectation of 305 million in a Reuters poll. The networks industry - dominated by Nokia, Sweden's Ericsson and China's Huawei - has been battered by years of slowing demand since 4G network sales peaked in the middle of the decade.
Yes Bank shares rise over 3% over reports of management rejig
Yes Bank rose over 3 percent on Thursday following reports that CEO Ravneet Gill is planning to replace entire top management of the bank. Within two weeks, around 14 top executives have been listed by Yes Bank for a likely replacement, the report said. The replacement could come for top executives like Rajat Monga, group president; Rajiv Anand, national head of corporate finance; Raj Ahuja, group financial officer; Kumar Padmanabhan, chief operating officer; and Ashish Agarwal, chief risk officer, reported Mint. READ MORE
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Apr 25, 2019
10:37
Bharti Infratel shares slip on CLSA downgrade, Q4 numbers
Bharti Infratel shares fell nearly 5 percent on Thursday after CLSA downgraded the stock to "sell" from "outperform" post its March-quarter numbers. The brokerage also cut the stock's target price to Rs 285 from Rs 300 per share.
The company posted a consolidated net profit of Rs 608 crore in the fourth quarter, almost flat on the year, as consolidation in the telecom sector resulting in reduced tenancies. The company had posted a consolidated profit after tax of Rs 606 crore in the same period year ago. READ MORE
Vodafone Idea rights issue receives bids for 1,109 crore shares: NSE data
Vodafone Idea's rights issue entailing 2,000 crore shares received bids for 1,109 crore shares, according to data available on the NSE on Wednesday. The rights issue was priced at Rs 12.50 apiece and opened on April 10. As per the data, the rights issue had received bids for 11,09,28,57,339 shares at 08:00 PM.
When contacted, the company remained tight-lipped about the final numbers saying it is bound by applicable compliance norms and guidelines. To a separate query, the company said its interactions with investors suggest there is a "strong demand for the rights issue". READ MORE
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Apr 25, 2019
09:50
Stock recommendations by Sudarshan Sukhani, Mitessh Thakkar for April 25
Sudarshan Sukhani - s2analytics.com
- Buy Rural Electrification Corporation with a stop loss at Rs 149, target at Rs 154
- Buy DCB Bank with a stop loss of Rs 208, target at Rs 217
- Buy TVS Motor with a stop loss of Rs 512, target at Rs 524
- Buy Hindustan Unilever with a stop loss of Rs 1745, target at Rs 1772
- Sell NMDC with a stop loss of Rs 103.5, target at Rs 101
Mitessh Thakkar - mitesshthakkar.com
- Buy Bajaj Finserv with a stop loss of Rs 7594, target at Rs 7740
- Buy HCL Tech with a stop loss of Rs 1120, target at Rs 1175
- Sell Dabur India with a stop loss of Rs 403, target at Rs 388
- Buy Hindustan Unilever with a stop loss of Rs 1739, target at Rs 1780
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Apr 25, 2019
09:35
Index losers led by Bharti Infratel as street punishes stock for lacklustre Q4 earnings##Index losers led by Bharti Infratel as street punishes stock for lacklustre Q4 earnings
Opening Bell: Sensex, Nifty open flat ahead of April F&O expiry; Bharti Infratel top loser
Benchmark indices open flat on Thursday, following subdued Asian peers, ahead of April F&O Expiry. Investors also remained cautious amid ongoing March-quarter earnings season. At 9:20 am, the BSE Sensex was trading at 39,025, down 29 points, while the broader NSE Nifty50 was ruling at 11,724, falling 3 points. Broader markets were also trading flat on the morning trade. Grasim, Ultratech Cement, PowerGrid, NTPC, and Hindalco were the top gainers on the Nifty, while, Bharti Infratel, Indiabulls Housing, Tata Motors, IOC and Adani Ports fell the most on the index. Sectoral indices were trading mixed with banking indices slipping while Nifty Realty gained. Nifty Auto also fell 0.2 percent.
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Apr 25, 2019
09:05
Rupee opens lower vs Wednesday's close##Rupee opens lower vs Wednesday's close