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Live Market commentary

Live Markets Commentary

Sify Editors @ 4:10 PM
Sensex posts fifth straight session of gains

Indian shares hit their highest in more than five months on Wednesday as Reliance Industries ended at a near 9-year high after investors welcomed plans by its telecom unit to start charging customers for services.

Reliance Industries gained nearly 11 pct to end at 1,207.50 rupees, its highest close since May 29, 2008.

The broader NSE index closed up 0.21 percent at 8,926.90, its fifth straight session of gains, after rising as much as 0.59 percent earlier in the day.

The benchmark BSE index also gained for a fifth session, ending 0.36 percent higher at 28,864.71, after climbing as much as 0.70 percent.

Both indexes closed at their highest since Sept 8, 2016.

Sify Editors @ 3:40 PM
Dr Reddys Laboratories Ltd
has informed the exchanges that the audit of the Company’s API manufacturing plant at Miryalaguda, by the US FDA, has been completed and that the regulator has issued a Form 483 with three observations.

Dr Reddy's Laboratories has added that the company is addressing the same.

The Dr Reddy's Laboratories stock is currently trading at Rs 2906, up 0.25% from its previous closing price. Earlier in the session, the stock had advanced to Rs 2925.

Sify Editors @ 3:20 PM
Jindal Steel & Power
is down more than 2% at Rs 107, on profit taking after recent gains.

The stock saw some bright spells earlier this week following a rating upgrade.

One looking at medium to long term can stay invested in the stock and use sharp declines to add more.

Sify Editors @ 3:05 PM
Sensex recovers after setback; RIL hits 8-year high

Reliance Industries recorded an eight-year high, with the bulls thronging the counter on hopes the company's telecom venture Reliance Jio will bring in spectacular returns to the group.

Besides the Jio factor, hopes that Reliance Industries' investment of over $40 billion in oil & gas projects will start yielding returns soon, appear to be prompting investor to go for the stock.

Even as the broad market stays somewhat mixed amid slightly listless trades, Reliance Industries shares are turning in a stellar performance today. The stock soared to Rs 1204.95 this afternoon, its best in eight years. At present, Reliance Industries is trading at Rs 1202, up 10.5% from its previous closing price.

More importantly, the stock has reaped such handsome returns on huge volumes. On BSE, the Reliance Industries counter has clocked a volume of around 2.88 million shares so far in the session, as compared to the average daily volume of 2.18 lakh shares.

Sify Editors @ 2:50 PM
Ramco Systems rises on bagging multi-million contract from Allegis Group

Ramco Systems Limited has announced that it has secured a Cloud deal worth $2.5 million from Allegis Group Australia Pty Ltd, the global leader in talent solutions, and the largest privately-held staffing company in the world.

As per the deal, Ramco ERP will implement Services Resource Planning (SRP), Human Capital Management (HCM) & Payroll across eight Countries including India, Singapore, Malaysia, China, Hong Kong, Japan, Australia and New Zealand.

The service will cover over 7000 employees and contractors acorss these eight countries.
Ramco Systems rose to Rs 375 in mid morning trades, after a slightly sluggish start. The stock is currently trading at Rs 369, up more than 3% from its previous closing price.

From a high of Rs 814 it touched on 3 May 2016, the stock tanked to Rs 286 by mid-December.

Sify Editors @ 2:20 PM
HOV Services hits more than 9-year high on merger deal

Shares of India's business process outsourcing company, HOV Services Ltd, rise as much as 18.8 pct to their highest since Nov. 19, 2007.

Company approves merger deal worth about $2.8 billion between SourceHOV LLC, tech-based services provider Novitex Holdings and special purpose acquisition company Quinpario Acquisition Corp.2

As per the deal, HOV Services' unit HOVS LLC, as a shareholder of SourceHOV will get 28.7 mln newly issued shares of Quinpario.

Stock posts biggest intraday percentage gain since Jan. 10

About 3.5 mln shares change hands as of 0656 GMT, more than eight times the stock's 30-day average of 418,977 shares.

Up to Tuesday's close, stock has gained 59 pct this year.

Sify Editors @ 1:50 PM
Buy UltraTech Cement for medium term. Add small quantities at declines.

Sify Editors @ 1:30 PM
Reliance Industries shares on song

Reliance Industries is on song today after the company's telecom arm Reliance Jio Infocomm announced attractive tariff plans. The stock, which has a weightage of 7.18 in the Sensex, ranking third after TCS (9.87) and HDFC Bank (7.35) is contributing substantially to market's gains today. At Rs 1192, slightly off the day's high of Rs 1196.70, Reliance Industries is nearly 10% up from its previous closing price.

On BSE, the Reliance Industries counter has clocked a volume of nearly 2.1 million shares so far in the session, nearly 10 times its average daily volume. On the National Stock Exchange, the Reliance Industries counter has clocked a volume of more than 17 million shares, valued at over Rs 1960 crore.

Investors are lapping up the stock, betting on hopes the attractive tariff plans announced by Reliance Jio will result in significant revenue generation for the group.

On Wednesday, Reliance Industries announced that it will end free data service and start charging its customers from 1 April, though voice calls and roaming will remain free.

RIL chairman Mukesh Ambani had stated on Tuesday that Reliance Jio crossed the 100 million customer mark and it will offer prime membership programme that will offer several benefits to the members with a cost component attached to them.

Though the fact that Reliance Jio will start charging customers from April 1, 2017 augurs well for other telecom service providers, the announcement from Jio that it will come out with a new set of plans that will include 20% more data limits compared to existing market plans could tilt the scale in favour of Reliance Jio.

Among other stocks in the telecom space, Reliance Communications is up 1.2% and Bharti Airtel is gaining about 0.75% and Tata Communications is trading flat, while Tata Teleservices is down nearly 1% and Idea Cellular is down marginally.

Sify Editors @ 1:00 PM
Stay invested in BHEL if looking at medium term. Fresh buying can be considered at declines.

Sify Editors @ 12:40 PM
Buy State Bank of India and add more at declines for medium to long term.

Sify Editors @ 12:10 PM
ITD Cementation down sharply on weak results

Shares of ITD Cementation Limited are down sharply on disappointing quarterly results.

The company, engaged in construction and engineering works, announced that it posted a net profit of Rs 13 crore in the quarter ended December 2016, down 56.8% compared to its net profit in the year-ago quarter. Total income declined 31.3% to Rs 729.9 crore in the third quarter of this fiscal. Operating profit was down 15.2% (y-o-y) in the December 2016 quarter.

The stock plunged to Rs 144.75 on BSE (Rs 145 on NSE), and despite having recovered to Rs 151.05 now, is still deep down in negative territory with a loss of about 6%.

ITD Cementation had touched a high of Rs 176 on 2 January 2017, rising fairly consistently from its 52-week low of Rs 85.30, on 25 February 2016.

Sify Editors @ 11:40 AM
Reliance Industries shares surge to 7-1/2-year high on plans for Jio

Shares of Reliance Industries Ltd rose as much as 7.7 percent to a more than seven-and-a-half-year high, as investors welcomed plans by the company's Jio telecom unit to start charging for its services, albeit at discounted rates.

The gains came after Reliance Jio Infocomm owner Mukesh Ambani unveiled on Tuesday a special plan that would provide customers signing up by the end of March with unlimited data and free voice services for a year at a rate of 303 rupees ($4.52) per month.

The offer is priced below its competitors, but the move to paid services is a step to start charging customers after Reliance launched in September with offers for free data, that are scheduled to run until the end of March.

Analysts said the move would help Reliance add more customers and retain a substantial portion of the more than 100 million subscribers it has already added, helping drive up its profit.

"We believe this offer will provide significant value for existing 4G customers," Edelweiss Securities said in a note, adding that it expected Jio's average revenue per user to increase while potentially breaking even on the operating profit front by the year ending in March 2019.

Shares of Reliance Industries were up 7.26 percent as of 0545 GMT, after rising to their highest since June 15, 2009.

Shares of rival companies also recovered from initial losses on hopes Jio's move to charge customers would help reduce some of the cutthroat competition in the sector.

Bharti Airtel , India's biggest mobile operator, rose 1.9 percent after falling 3.3 percent on Tuesday.

Smaller rival Idea Cellular rose 0.28 percent after declining 0.1 percent in the previous session.

Sify Editors @ 11:00 AM
Stay invested in Idea Cellular. Add more at declines.

Sify Editors @ 10:40 AM
Bharat Electronics falls; govt to sell 5 pct stake

Shares of Bharat Electronics Ltd fall as much as 3.2 pct to 1,510 rupees.

India govt to sell 5 pct stake in co starting on Wednesday.

Sets floor price at 1,498 rupees per share, a discount of about 4 pct to Bharat Electronics' closing price on Tuesday.

Up to Tuesday's close, stock had gained about 13.5 pct this year.

Sify Editors @ 10:10 AM
Sensex pares gains after bright start; RIL up 7% on Reliance Jio's tariff plans

Key Indian stock indices moved higher in early trades Wednesday, riding on the strength of Reliance Industries, which rallied sharply on hectic buying amid hopes Reliance Jio Infocomm's new tariff plans will significantly expand the teleco's client base.

The BSE benchmark Sensex, which rose to 28,880.77 in early trades, gaining nearly 120 points in the process, is currently up 18.64 points or 0.06% at 28,680.22. The Nifty50 of the National Stock Exchange is up 19.40 points or 0.22% at 8927.25, after having advanced to 8939.85 earlier.

Sify Editors @ 9:45 AM
Castrol India falls; co warns of volatility in first half of 2017

Shares of Castrol India fall as much as 2.7 pct to 421.5 rupees.

Co posts 10.7 pct gain in Dec-qtr profit on Tuesday, but warns of higher volatility in the first half of 2017.

Cites rising input costs and continued impact from govt's move to withdraw high-currency notes, according to statement.

Stock posts biggest intraday percentage fall since Jan 20.

Up to Tuesday's close, stock had gained about 14 pct this year.

Sify Editors @ 9:15 AM
The Sensex is trading at 28,830.96 points, up by 69.37 points or 0.24 per cent.

On the other hand, the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 8,931.60 points after closing at 8,907.85 points.

The Nifty is trading at 8,919.50 points in the morning.


volume toppers bse

Company Name Current
Spicejet Ltd. 72.60 69.30
Jaiprakash Associate 13.97 14.49
Suzlon Energy Ltd. 17.70 17.35
M And B Switchgears 37.35 36.55

volume toppers nse

Company Name Current
Jaiprakash Associate 13.90 14.45
Jindal Steel & Power 110.25 109.40
Suzlon Energy Ltd. 17.75 17.35
Reliance Industries 1207.50 1088.20
Bullion Rates Share
Cities Gold (10g) Silver (1Kg)
Chennai Rs. 43285.00 Rs. 30245.99
Mumbai Rs. 43285.00 Rs. 30844.92
Delhi Rs. 43285.00 Rs. 30695.19
Kolkata Rs. 43285.00 Rs. 30598.93
Kerala Rs. 43285.00 Rs. 29572.19
Buy/Sell Advice Share
Source Company Action
Firstcall Grasim Industries Buy
ICICIDirect Cipla Buy
ICICIDirect ACC Sell

monthly gainers bse

Company Name Current
Change %
Central Provinces Ra 452.85 83.92
Himalaya Granites Lt 41.45 80.48
Otco International L 36.80 80.35
K J M C Financial Se 27.60 74.35

monthly losers bse

Company Name Current
Change %
JSW Steel Ltd. 185.05 -794.19
Inani Marbles & Indu 38.00 -571.84
Hubtown Ltd. 94.00 -418.51
Gulshan Polyols Ltd. 76.75 -393.36

monthly gainers nse

Company Name Current
Change %
National Fertilisers 73.00 56.51
Banaras Beads Ltd. 86.65 55.97
Uttam Sugar Mills Lt 92.35 53.65
Radha Madhav Corpora 39.55 52.72

monthly losers nse

Company Name Current
Change %
JSW Steel Ltd. 185.00 -848.35
Hubtown Ltd. 92.90 -424.17
Sterling Tools Ltd. 194.85 -399.33
Indo Count Industrie 161.85 -392.03

Bse top gainers

Company Name Current Change
Manappuram Finance L 99.35 189.23
Jindal Stainless Ltd 51.75 135.76
Florence Investech L 618.00 81.98
Jubilant Life Scienc 709.35 74.29

Bse top losers

Company Name Current Change
Bajaj Finance Ltd. 1079.20 -82.57
Max India Ltd. 150.80 -73.48
Pearl Global Industr 145.00 -33.94
Zandu Realty Ltd. 1244.55 -23.63

Nse top gainers

Company Name Current Change
Maruti Suzuki India 6079.65 1033.95
APL Apollo Tubes Ltd 1069.95 571.03
Sterlite Technologie 132.00 486.67
Cholamandalam Invest 1017.60 459.58

Nse top losers

Company Name Current Change
Hubtown Ltd. 92.90 -89.51
Max India Ltd. 149.75 -73.49
TV18 Broadcast Ltd. 40.05 -55.18
Zandu Realty Ltd. 1244.40 -23.52
Forex Rates Share
Currency INR
British Pound 103.36
US Dollar 61.99
Euro 84.82
Japanese Yen 0.60
Singapore Dollar 47.17