Live Markets Commentary
Sify Editors @ 3:20 PM
Kakatiya Cements hits the roof
Kakatiya Cements (Rs 403.60) has hit 20% upper circuit today.
The stock price has doubled in five months. The stock had touched a low of Rs 203 on 22 November 2016, losing ground gradually from an all-time high of Rs 599 it touched on 20 May 2016.
Kakatiya Cement Sugar & Industries Limited was earlier known as Kakatiya Cements Limited.The company's installed cement capacity increased over the period from the initial 66,000 tpa to 1,98,000 tpa to 2,97,000 tpa at present. The capacity of the Sugar Division is 3200 tcd at present.
Kakatiya Cement is a reputed name in the cement industry and it has been catering to the needs of the core sectors of the country with its quality product. Whether it is concreting Railway Sleepers, cementing Oil Wells or shaping dream houses, Kakatiya Cement is among the sought after companies by government or private bodies.
Sify Editors @ 2:50 PM
HDFC Bank (Rs 1531) is riding up north on strong fourth quarter results. Though more upside is on the cards, some profit taking is likely at the counter this week.
Sify Editors @ 2:20 PM
UltraTech Cement hits record high
UltraTech Cement has reported consolidated net profit of Rs 725.90 crore for the quarter ended March 2017, down 11.27% compared to its net profit of Rs 818.11 crore in the year-ago quarter.
The company's total income (consolidated) rose 4.12% y-o-y to Rs 8164.72 crore in the January - March 2017 quarter. On standalone basis, UltraTech Cement's net profit in the January - March 2017 quarter, at Rs 688.33 crore, beat expectations.
The company's board has recommended a dividend of 100% (Rs 10 per share of face value of Rs 10 each). The total payout works out to Rs 330.39 crore.
UltraTech Cement shares are up 4% at Rs 4126.50. The stock hit a record high of Rs 4206.80 soon after announcement of results.
Despite a drop in earnings, UltraTech Cement and ACC are up sharply today, with investors lapping up these stocks, betting on hopes cement sales will pick up momentum as the government is expected to speed up infrastructure projects.
Shares of almost all big, medium and small-sized cement companies are having a great spell in positive territory today.
Sify Editors @ 1:50 PM
Hold Berger Paints (Rs 251) with a stop loss around Rs 235 if looking at near term. Long term investors can buy at declines.
Sify Editors @ 1:20 PM
Indiabulls Housing Finance hit a new high this morning.
The stock rose to Rs 1013.20 and is currently trading at Rs 1005.05, up 1.5% from its previous closing price.
The company announced on Friday that it has allotted its twentieth tranche of secured, redeemable, non-convertible debenturs of face value of Rs 10 lakh each aggregating to Rs 25 crore on private placement basis.In Novemberlo,2016, Indiabulls Housing Finance had proposed to issue'secured, redeemable, Non-Convertibte debentures of face value of Rs 10 lakh aggregating Rs 6000 crore on private placement basis.
Sify Editors @ 12:50 PM
Stocks hitting 52-week highs
Some top notch stocks scale new peak.
Colgate Palmolive rose to Rs 1045, but failing to hold gains, eased to Rs 1025/50. At Rs 1030, the stock is down marginally from its previous closing price.
Realty stock DLF is trading 3.3% up at Rs 189.40, more than 3% up from previous closing price of Rs 183.45.
Grasim Industries, which rose to Rs 1181, is currently up 4% at Rs 1174.40.
HDFC, which rose to Rs 1538.55, is now at 1531.35, up 1.6% from previous closing price.
HDFC Bank is up 2.5% at Rs 1533, off a new 52-week high of Rs 1538.
Larsen & Toubro is up 2.1% at Rs 1722.70, off a new yearly high of Rs 1730.
Motherson Sumi Systems, which rose to Rs 386.55, a fresh 52-week high, is now up 1% at Rs 382.50.
UPL (up 1.5% at Rs 791.30) hit a 52-week high of Rs 798 around mid morning today.
Sify Editors @ 12:20 PM
Sensex, rupee rises as French vote brings relief
Indian shares rose on Monday and the rupee strengthened as investors breathed a sigh of relief after the market's favoured candidate, Emmanuel Macron, won the first round of the French presidential election.
The outcome led to a mass unwinding of safe-haven trades in favour of riskier assets, although in India gains were tempered as investors awaited a slew of quarterly earnings reports, including that of Reliance Industries Ltd due later in the day.
"There's a good chance in France for Macron to win, which is positive for global markets," said Neeraj Dewan, director at Quantum Securities.
Macron will now face far-right leader Marine Le Pen in a May 7 runoff, with opinion polls on Sunday predicting an easy win for him in the final clash.
The broader NSE index rose 0.62 percent to 9,175.60 by 0622 GMT, while the benchmark BSE index was 0.52 percent higher at 29,518.15.
The rupee strengthened to 64.4850/4900 per dollar from its close of 64.61/62 on Friday, but bonds fell, with the benchmark 10-year bond yield rising 2 basis points to 6.94 percent.
Sify Editors @ 11:50 AM
Tinplate (Rs 91) looks poised for further upside, thanks to buoyant quarterly results. Stay invested in the stock and add more at declines.
The company. engaged in container and packaging business, reported a net profit of Rs 11.02 crore for the January -March 2017 quarter, an increase of almost 75% compared to year-ago quarter.
Sify Editors @ 11:20 AM
HDFC Bank hits record high on strong March-quarter results
HDFC Bank Ltd's shares rise as much as 2.12 pct to a record high of 1,528.35 rupees.
Extend gains into a fifth straight session.
India's second-biggest lender by assets on Friday reported higher-than-expected profit of 39.9 bln rupees ($618.48 mln) for March quarter.
Q4 bad loan ratio remains sequentially stable at 1.05 pct.
Key positive was strong acceleration in core pre-provision operating profit growth, helped by strong loan growth, margins, and fees - Morgan Stanley writes in a note.
Stock had risen 24 pct this year as of Friday's close.
Sify Editors @ 10:50 AM
ACC hits near 6-month high; March-quarter profit beats estimates
Shares of cement maker ACC Ltd gain as much as 3.70 pct to their highest since Oct 25, 2016.
Stock among top pct gainers on NSE.
Company reports better-than-expected profit for March-qtr, helped by stronger cement sales volume.
Quarterly sales volume at ACC's cement segment rose 4 pct as impact from government's move to withdraw high-denomination notes declined, company said on Friday.
Stock up 12.3 pct this year up to Friday's close.
Sify Editors @ 10:20 AM
Hold Fortis Healthcare (Rs 208) is up sharply on reports General Atlantic Llc is showing interest in acquiring controlling stake in the company. Already four funds are in the race to acquire stake in Fortis Healthcare. The stock may well see further upside in the near term.
Sify Editors @ 9:25 AM
Sensex up 135 points after firm start;Cement, realty stocks in demand
The Indian stock market opened on a firm note Monday morning, tracking positive global cues.
The BSE benchmark Sensex, which rose to 29,526.19, is now up 135.40 points or 0.47% at 29,500.70. The Nifty50 of the National Stock Exchange is up 43 points or 0.47% at 9162.40.
In the forex market, the rupee opened at 64.55 against the U.S. dollar, up 6 paise from Friday's close of 64.61.
HDFC Bank, which on Friday reported a sharp jump in net profit for the quarter ended March 2017, is extending its gains this morning, trading 2.3% up from its previous closing price.
Adani Ports is gaining 2.1%. Larsen & Toubro is up nearly 2%. Reliance Industries is trading 1.1% ahead of results. HDFC, ONGC, State Bank of India, Tata Motors, Asian Paints, Mahindra & Mahindra, GAIL India and Coal India are modestly higher.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 42731.00||Rs. 30117.65|
|Mumbai||Rs. 42731.00||Rs. 31016.04|
|Delhi||Rs. 42731.00||Rs. 30641.71|
|Kolkata||Rs. 42731.00||Rs. 30737.97|
|Kerala||Rs. 42731.00||Rs. 29786.10|