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Stock Market Highlights: Market end with gains, Nifty holds 11,500 mark; TCS top gainer, closes over 7%

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Stock Market Highlights: Indian indices ended with gains on Monday led by the rally in IT stocks. TCS remained the top gainer of the day, closing over 7 percent higher followed by Wipro, while Bajaj twins were the index top losers. Barring PSU bank index, all sectoral indices ended in green with IT index settling over 3 percent higher.  Broader markets ended on a mixed note with Nifty Midcap 100 closing in the red and Nifty Smallcap 100 index ending nearly a percent higher.

Stock Market Highlights: Market end with gains, Nifty holds 11,500 mark; TCS top gainer, closes over 7%
  • Here are all the key highlights from today's trading session:

    1. Sensex & Nifty close in the green but off highs

    2. Midcaps underperform benchmark indices; Index 112 points off highs

    3. IT stocks & financial heavyweights (ICICI Bank & HDFC Bank) help Nifty close higher

    4. Sensex gains 277 points to 38,974 & Nifty 86 points to 11,503

    5. Nifty Bank advances 125 points to 22,371 while midcap slips 17 points to 17,108

    6. IT gains the most amongst indices with Nifty IT up over 3%

    7. TCS top Nifty contributor ahead of share buyback; market capitalization at Rs 10 lakh crore

    8. Wipro surges to a 20-year high; Infosys at a record high

    9. Steel companies gain on reports of a price increase; Tata Steel up 5%

    10. Bharat Forge & Ramky Forge surge on strong North America Class 8 truck orders

    11. SpiceJet’s announcement of starting London flights helps stock gain 2%

    12. Market Breadth favours advances; advance-decline ratio at 5:4

  • Closing Bell: Market end with gains, Nifty holds 11,500 mark; TCS top gainer, closes over 7%

    Indian indices ended with gains on Monday led by the rally in IT stocks.

    Sensex ended 277 points higher to 38,973.70 while the Nifty50 index ended at 11,503.35, up 86 points. Broader markets ended on a mixed note with Nifty Midcap 100 closing in the red and Nifty Smallcap 100 index ending nearly a percent higher.

    Barring PSU bank index, all sectoral indices ended in green with IT index settling over 3 percent higher.  

    TCS remained the top gainer of the day, closing over 7 percent higher followed by Wipro,Tata Steel, Sun Pharma and JSW Steel while Bajaj twins were the index top losers along side stocks like Shree Cement, Bharti Airtel and GAIL.

  • Angel Broking Update: The shares traded 0.67 percent higher to Rs 276.85 apiece on the NSE after getting listed on the exchanges with 10 percent discount over its issue price. It's the first IPO after July that saw a weak debut on the bourses.The Rs 600-crore public issue was subscribed 3.94 times during September 22-24., receiving bids for 5.4 crore equity shares as against the offer size of 1.37 crore equity shares, as per data available with the stock exchanges. Here's more on it

  • Stock Update: JSW Steel's shares traded nearly 3 percent higher to Rs 289.85 per share on the NSE after the company informed the exchanges that its wholly-owned subsidiary Periama Holdings is considering a number of financing options. According to the company's filing, the options include conducting an international offering of U.S. Dollar denominated senior notes in an aggregate principal amount of $1 billion. The notes will be guaranteed by the company, added the filing.

  • Stock Update:  Tata Consultancy Services (TCS) on Monday became the second Indian firm after Reliance Industries to attain a market valuation of more than Rs 10 lakh crore helped by a rally in its share price. In the morning trade, the stock jumped over 6 percent ahead of its board meeting later this week to consider a share buyback proposal.

    The stock rose by 7.55 percent to reach its record high of Rs 2,714 on the NSE. Following the rally in its share price, the company’s market valuation jumped to Rs 10,03,012.43 crore in the afternoon trade on the BSE. TCS last month became the second Indian firm to have a market valuation of over Rs 9 lakh crore after Reliance Industries Limited.

  • Marico saw partial revival of consumer sentiment in Q2, co maintains a positive outlook for the rest of the year.

  • Rupee Update: The Indian currency settled slightly lower on the first trading day of the week. The rupee ended at 73.29 against the US dollar as compared to the Thursday's close of 73.14. 

  • Surprising returns: Nifty, Sensex rise 31% in first half of FY21; best since FY15


    The first half of FY21 (H1FY21) has been the best first half for the Indian markets in the last six years with the benchmarks Sensex and Nifty50 gaining 31 percent even as the investors remained cautious on the economy due to the coronavirus pandemic.

    The rally, this financial year, was mainly supported by liquidity infused by central banks across the world, positive trends global markets and attractive valuations after the selloff.

    This comes after a steep decline of 24.5 percent in March 2020 alone thanks to the coronavirus-led selloff across the globe. Overall in FY21, the indices shed over 26 percent.

    Before this, the best first half for the indices was seen in FY15, when the indices jumped 19 percent between April and September. Before that the indices rose 14.9 percent in H1FY11, 11.3 percent in H1 FY17, and 8.1 percent in H1 FY19. Read more here

  • Equity trading volume gatherers steam in September, commodity volumes decline

    Investors continue to remain attracted to the Indian equity market as the daily turnover value in September 2020 on the stock exchanges clocked the ninth consecutive month of healthy growth. The average daily turnover value (ADTV) on the National Stock Exchange (NSE) during September rose 49 percent YoY to Rs 55,600 crore. The number of trades grew 44 percent YoY in September.

    BSE’s cash ADTV during the month also rose 14.8 percent YoY to Rs 3,180 crore.

    NSE’s market share stood at 95 percent in September. FY21-TD, NSE’s market share in equity cash segment stands at 94 percent versus 93 percent in FY20 and 91 percent in FY19, according to ICICI Securities. Read more here.

  • Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

    Over the last few days Reliance Industries Ltd. has announced a slew of investments by private equity players in Reliance Retail ventures Ltd. Mubadala, GIC and TPG have announced investments of Rs 6,247.5 crore, Rs 5,512.5 crore and Rs 1,837.5 crore respectively since the beginning of October. With this RIL has now announced cumulative investments of Rs 32,198 crore in Reliance Retail so far for a 7.28% stake in the company so far. This is in line with our expectations and we expect the company will continue to announce more such deals in the near future. We maintain our positive view on Reliance Industries Ltd. and expect that the digital and the retail business will be the future growth drivers for the company. We continue to maintain our buy rating on Reliance Industries with a target of  Rs 2,543.

  • Standout Brokerage Report: Nomura raises target price for Infosys, HCL Tech, Tech Mahindra

    In Standout Brokerage Report, Nomura has raised targets for the large-cap IT names led by higher EPS and target multiples. Its top bets are Infosys, HCL Technologies, and Tech Mahindra.

    The brokerage has raised the dollar revenue estimate by 1-5 percent and EBIT estimates by 40-150 basis points over FY21 and FY22. Therefore, the EPS estimates for tier-I IT companies go up by 1-16 percent.

    Going forward, Nomura expects a 9-10 percent dollar revenue CAGR for companies like Infosys, HCL Technologies, and Tech Mahindra. For Wipro, it is expecting 6.5 percent US dollar revenue growth. Watch the video here

  • Mazagon Dock Shipbuilders IPO allotment: Check your status here

    Mazagon Dock Shipbuilders IPO was fully subscribed on the first day of the initial public offering (IPO) after it opened on Tuesday. The public issue was subscribed 157.4 times by the end of 3rd day of bidding (October 1), leaving behind Happiest Minds Technologies and Chemcon Speciality Chemicals.The company is likely to be listed on the exchanges on October 12.The price band of the IPO is fixed its IPO price band at Rs 135-145. 

    The unblocking of funds from ASBA account is likely to start around October 8 and the shares will be credited to the account of eligible investors by October 9. The status will only appear post allotment if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.

    On BSE:

    1) Go to the website: https://www.bseindia.com/investors/appli_check.aspx.

    2) Select ‘Equity’ and then from the dropdown, select issue name - "Mazagon Dock Shipbuilders".

    3) Enter your application number and PAN card number.

    4) Click on the "Search" button.

    On the registrar website- Alankit Assignments

    1) Go to the website: ipo.alankit.com

    2) Select 'Mazagon Dock Shipbuilders' in the dropdown menu

    3) Check box either on application number or depository ID/client ID or PAN (Permanent Account Number)

    4) If you check box "Application Number" then select application type (ASBA/NON ASBA) in dropdown and enter the application number.

    5) Click on the "Search" button.

    Read more about this IPO here

  • Sri Lankan stock trading halted after 7.5% plunge on new COVID-19 cluster

  • Gold rate today: Yellow metal falls 1%; Support seen at Rs 49,800 per 10 grams

    Gold prices in India declined nearly 1 percent to trade near Rs 50,000 per 10 grams level on the Multi Commodity Exchange (MCX) Monday following a muted trend in the international spot prices. Silver prices also fell by 1 percent.

    At 11:40 am, gold futures for December delivery fell 0.96 percent to Rs 50,084 per 10 grams as against the previous close of Rs 50,570 and opening price of Rs 50,230 on the MCX. Silver futures traded 1.06 percent lower at Rs 60,494 per kg. The prices opened at Rs 60,737 as compared to the previous close of Rs 61,145 per kg.

    “Gold prices declined as investors' risk sentiment improved. The equity markets all over traded higher, pressurizing the gold prices. It’s a sell on rally market for gold,” said Amit Sajeja, AVP Research - Commodities & Currencies at Motilal Oswal. Click here to read more experts' view

  • UTI AMC IPO allotment: Here’s how you can check the status


    The Rs 2,160-crore initial public offering (IPO) of UTI Asset Management Company (AMC) was subscribed around 2.3 times till the final day of bidding. The IPO opened on September 20 and closed on October 1.

    The allotment for the shares is expected to be known by October 7/ October 8 and the stock will be listed on the exchanges on October 12.

    According to stock exchange data, the UTI AMC issue received bids for 6.31 crore equity shares, compared to the issue size of 2.73 crore shares.

    On BSE:

    1) Go to the website: https://www.bseindia.com/investors/appli_check.aspx. 2) Select ‘Equity’ and then from the dropdown, select issue name - "UTI Asset Management Company 3) Enter your application number and PAN card number
    4) Click on the "Search" button

    Through the website of Registrar - KFin Technologies.

    1) Go to Website: https://ris.kfintech.com/ipostatus 2) Select IPO name from the dropdown 3) Enter Application Number or DP ID/Client ID or PAN 4) In case of application number, select application type (ASBA or NON ASBA) and Enter Application Number. In case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".
    5) Enter Captcha and submit.  Here's more on this

  • TCS shares hit all time high on buyback proposal; IT index jumps around 3%

    Shares of Tata Consultancy Services (TCS) rallied over 5 percent to a fresh company on Monday after the company said that the board will meet later this week to consider a share buyback proposal. No other details of the buyback plan were disclosed. Post the announcement, the stock rose to its all-time high of Rs 2,663 per share on NSE, up as much as 5.5 percent in intra-day deals. The IT major last hit an all-time high of Rs 2,554 on September 22. Other IT stocks were also positive lifting the Nifty IT index to nearly 3 percent. Wipro also surged over 4 percent while Infosys, Mindtree, Coforge, and HCL Tech also rose between 1 percent and 3 percent.

  • Market Watch:Nooresh Merani of nooreshtech.co.in


    "MRF has given a major reversal from the lows by making a false breakdown below Rs 58,000 and now sustaining above Rs 60,000. Expecting a move towards Rs 66,000 and higher and a stop loss at Rs 59,000.


    Second is a buy on Godrej Consumer which has shown very strong relative strength over the last few weeks. It has broken above the Rs 725-730 mark. Expecting a move towards Rs 775 and higher and a stop loss at Rs 725."

  • Investors can miss Likhitha Infrastructure IPO, says Keshav Lahoti from Angel Broking

    Likhitha Infrastructure IPO issue date has been extended and it will now close on October 7. According to an update in NSE, price band has also been revised from 117/- to Rs. 120/- To Rs. 116/- to Rs. 120/- per share. There is a reduction of Rs. 1 on the lower price band. Till now, the issue has been subscribed by 8.43 times. Retail portion received an overwhelming response by getting subscribed by 21.13 times. NII also is subscribed by 8.43 times. Although QIB is not fully subscribed, it is subscribed by 0.45 times. Considering the small issue size, investors can miss this IPO, said Lahoti. 

  • Jaikishan Parmar from Angel Broking on UTI AMC IPO
     



    UTI AMC IPO got a subdued response, investor might have concerned about the recent outflow of AUM and subdued response for SIP of the Mutual fund Industry. UTI AMC subscribed 2.31 times on the third day. The retail portion subscribed 2.32 times, QIB 3.34times. However, UTI AMC has the potential to regain its market share and increase return ratio, said Parmar.

    FY20 profitability was a bit compressed largely owing to a) Decline in management fees of about Rs 52cr due to issues in the debt mutual fund business. b) In some of the high-yield fixed-income funds, fresh subscriptions were stopped and exit load was reduced. C)Marked-to-market (MTM) loss on treasury investments. Board has approved a higher dividend polity which will also help to some extent improve the return ratio. UTI AMC has a well-diversified and strong presence in b 30 cities, where SEBI has allowed to charge additional 30 bps and these inflows are sticky. The company has penetrated well into in the B30 cities as its 250+ development officers and Chief Agents are based in B30 cities. The 24% of its overall AUM in B30 geographies, UTI has the highest concentration in B30 markets among the Top 10 AMCs. UTI AMC has launched its IPO at discount compared to listed peers, he added further. 

  • BOTTOMLINE: Want a multi-bagger in your portfolio? Here's what to look for

    BOTTOMLINE: Want a multi-bagger in your portfolio? Here's what to look for. Get latest Market online at cnbctv18.com
    Stock Market Highlights: Market end with gains, Nifty holds 11,500 mark; TCS top gainer, closes over 7%
  • HDFC Bank's Ravi Santhanam in Forbes list of World's Most Influential CMOs

    Ravi Santhanam, Chief Marketing Officer (CMO), HDFC Bank has been recognised in the Forbes list of ’The World’s Most Influential CMOs’. Ranked at Number 39, he is the only CMO of an Indian company to be featured in the illustrious list which includes marketing heads of Apple, BMW, Lego, Adobe, Microsoft, P&G among others. This is the 8th edition of this annual list released by Forbes with research partners Sprinklr and LinkedIn. This year, 427 global CMOs were eligible for consideration. It is generated using data from news reports, websites and social networks to measure influence. In its editorial, Forbes writes, ”Santhanam is a marketing leader who prioritizes personalized and relevant customer experience and believes that machine learning and data science are critical tools for marketers; he expressed so in a recent blog. And he led the Indian bank’s response to the coronavirus outbreak, launching the #HDFCBankSafetyGrid campaign to help people keep safe distance in public. More here

  • Hatsun Agro board to consider QIP & bonus issue on October 19

  • Yes Bank says outstanding deposits rose 15.7% in July-September quarter

    Private lender Yes Bank on Monday said its outstanding deposits rose 15.7 percent at Rs 1.36 lakh crore sequentially in the July-September quarter. The loans and advances were up at 1.4 percent at Rs 1.67 lakh crore, while the credit-to-deposit ratio stood at 122.9 percent, against 140.2 percent. The liquidity coverage ratio, meanwhile, stood at 105.4 percent, against 114.1 percent, the bank said in a statement. The CASA ratio stood at 24.8 percent versus 30.8 percent year-on-year and against 25.8 percent quarter-on-quarter, the lender added. Yes Bank further said that these figures are only provisional and are released ahead of the official announcement of the financial results for the quarter ended September 30, 2020, which is subject to approval by the audit committee of the board, board of directors and limited review by the statutory auditors of the bank.

  • Angel Broking lists with 10% discount at Rs 275 over the issue price


    The shares of Angel Broking debuted on the exchanges with 10 percent discount at Rs 275 apiece as against the issue price of Rs 306 on the BSE. The company had fixed its price band at Rs 305-Rs 306 per equity share. The Rs 600-crore public issue was subscribed 3.94 times during September 22-24., receiving bids for 5.4 crore equity shares as against the offer size of 1.37 crore equity shares, as per data available with the stock exchanges. The retail category was subscribed 4.31 times, qualified institutional buyers portion received 5.74 times subscription and non-institutional investors category, 69 percent.

  • Monday's top brokerage calls: Autos, interest waiver case and more
    Among brokerages, Jefferies said a sharp recovery in the auto sector set the stage for a turnaround in financial performance in Q2. Meanwhile, Macquarie believes that cost to the government should not…
    Stock Market Highlights: Market end with gains, Nifty holds 11,500 mark; TCS top gainer, closes over 7%
  • Market Watch: Prakash Diwan, Market Expert


    On Reliance Retail


    I am quite positive on the stock, I have always been positive on the stock but now it seems like the floor of Rs 2,000 to Rs 2,200 is a buyable zone, any dip in the market and you will probably see a lot of other institutions mirroring this buying pattern, which the larger equity guys has demonstrated.


    On TCS


    Couple of weeks back, we spoke about the cash that would be required to pay off to the Mistry group, the Shapoorji Pallonji side of the family and this is exactly what was anticipated. There could be a little bit of a run up in anticipation of that. Ever since that announcement came and this was a potential way of building up cash for the group, TCS has started at least participating in the largecap IT rally that otherwise it stayed away from. If you see the kind of two-weeks after the last quarterly earnings, it participated and it kind of decided to say okay, this much is enough, let me sit on the sidelines but ever since this news came, there has been a little bit of activity and I think it will continue. I see at least get another 8-10 percent kind of an upside very quickly in the next week or so in anticipation of the positive move on the buyback.

  • Opening Bell: Sensex, Nifty start the week on a positive note; IT stocks, banks gain

    Indian indices started the week on a positive note following gains in Asian peers and US stock futures after on hopes that President Donald Trump could be discharged from hospital later in the day. Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday. At 9:18 am, the Sensex was trading 341 points higher at 39,038 while the Nifty rose 67 pointa at 11,484. Most key sectoral indices witnessed buying with IT, bank and auto indices leading the pack. Broader markets were also up with Nifty Midcap and Nifty Smallcap indices up over half a percent. TCS, Tata Motors, Hero Moto, Tata Steel, and Wipro were the top gainers on the Nifty50 index while Nestle, HDFC, Asian Paints, Bharti Airtel, and UltraTech Cement led the losses.

  • TCS Board to consider share buyback on Oct 7


    India’s largest IT services firm Tata Consultancy Services’ board will meet later this week to consider a share buyback proposal. ”…the board of directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on October 7, 2020,” Tata Consultancy Services (TCS) said in a regulatory filing on Sunday night. No other details of the buyback plan were disclosed. The board is also slated to consider its financial results for the September quarter and declaration of a second interim dividend to the equity shareholders at that meeting. In 2018, the Mumbai-based company had undertaken a share buyback programme worth up to Rs 16,000 crore. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. In 2017 too, TCS had undertaken a similar share purchase programme. TCS had announced the mega buyback offer as part of its long-term capital allocation policy of returning excess cash to shareholders.

Stock Market Highlights: Indian indices ended with gains on Monday led by the rally in IT stocks. TCS remained the top gainer of the day, closing over 7 percent higher followed by Wipro, while Bajaj twins were the index top losers. Barring PSU bank index, all sectoral indices ended in green with IT index settling over 3 percent higher.  Broader markets ended on a mixed note with Nifty Midcap 100 closing in the red and Nifty Smallcap 100 index ending nearly a percent higher.