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Live Market commentary

Live Markets Commentary

Sify Editors @  4:15 PM
Sensex ends 88 points amid slew of earning reports, other corporate news

The Indian stock market ended lower on Tuesday, with investors reacting to a slew of earnings reports and other corporate news.

Global cues were mixed. While Asian markets ended on a mixed note, major European markets opened modestly higher.

The Sensex ended down 87.66 points or 0.31% at 28,091.42, after scaling a high of 28,211.41 and a low of 28,013.69 intraday.

The Nifty50 ended at 8691.30, down 17.65 points or 0.2%. It touched a high of 8722.65 and a low of 8663.45 in the session.

In the forex market, the rupee was trading at 66.88 against the US dollar around late afternoon, down 0.04% from its previous close of 66.85.

Shares of Tata Group companies started off on a dismal note following the ouster of Cyrus P Mistry as Chairman of Tata Sons. The board nominated Ratan Tata as the interim chairman for four months. Some of the stocks in the group, however, managed to find some support to eventually erase some or most of their losses.

Information technology and FMCG stocks were mostly weak. Capital goods and automobile stocks too were under some pressure.

Telecom, healthcare and consumer durables stocks found some support. Bank, metal, oil, power and realty stocks turned in a mixed performance.

Adani Ports and Special Economic Zone zoomed nearly 10% after the company reported a sharp 61% jump in consolidated net profit for the quarter ended September 2016.

Sify Editors @  3:30 PM
Adani Ports and Special Economic Zone
zoomed to Rs 317 this afternoon after the company reported a sharp jump in consolidated net protit. The stock is currently at Rs 314, netting a gain of nearly 10%.

Adani Ports and Special Economic Zone Limited has reported consolidated net profit of Rs 1090.81 crore for the quarter ended September 30, 2016,  as compared to Rs 677.64 crore in the quarter ended September 30, 2015. Total income increased from Rs 1955.99 crore for the quarter ended September 30, 2015 to Rs 2416.77 crore for the quarter ended September 30, 2016.

Sify Editors @  3:10 PM
IDBI Bank down sharply as NPAs rise

IDBI Bank has reported a sharp 53.5% decline in net profit to Rs 55.50 crore in the quarter ended September 2016, compared to the corresponding quarter last year.

The bank's Gross NPAs rose to 13.05% in the September quarter, up from 11.92% in the preceding quarter and 6.92% in the September 2015 quarter. Net NPAs stood at 8.32% as on 30 September 2016, up from 7.47% in the first quarter, and 3.16% from the year-ago quarter.

The IDBI Bank stock is down 3.4% at Rs 74 at present. The stock, which hit a 52-week high of Rs 95.70 in early December 2015, touched a low of Rs 47.40 by mid-February.

Sify Editors @  2:40 PM
HDFC Bank recovers after results

HDFC Bank has reported standalone net profit of Rs 3455.33 crore for the quarter ended September 30, 2016 as compared to Rs 2869.45 crore in the corresponding quarter last year. The bank posted total income of Rs 19,970.89 crore for the quarter ended September 30, 2015, compared to Rs 17,324.28 crore in the same quarter last year.

Net interest income of HDFC Bank rose 19.6% (year-on-year) to Rs 7993 crore in the second quarter. Net interest margin was up 4.2% on yearly basis, but was down from 4.4% in the preceding quarter. Loan offtake was up 18.1% in the quarter, lower than market expectations. 

Provisions for bad loans dropped 13.5% (Y-o-Y) to Rs 749 crore, although on sequential basis, provisions rose 10%. Gross NPAs as a percentage of gross advances dropped to 1.02%, down marginally from 1.04%. Net NPAs too declined marginally to 0.3%.

In absoluted terms, gross NPAs of HDFC Bank increased 3% (sequentially) to Rs 5069 crore. However, net NPA declined 0.3% to Rs 1489 crore from the previous quarter.

HDFC Bank stock, which had declined to Rs 1244 earlier in the day, rose to Rs 1265.50 on announcement of results, but has eased to Rs 1256 now, down 0.7% from Monday's closing price.

Sify Editors @  2:10 PM
Kotak Bank spurts on strong results

Kotak Mahindra Bank shares spurted to Rs 793.85 this afternoon after the bank reported a net profit of Rs 813.29 crore for the quarter ended September 30, 2016 as compared to Rs 569.50 crore for the quarter ended September 30, 2015. Total income increased from Rs 4621.38 crore for the quarter ended September 30, 2015 to Rs 5243.58 crore for the quarter ended September 30, 2016.

On consolidated basis, the bank posted a net profit of Rs 1202.40 crore for the quarter ended September 30, 2016 as compared to Rs 941.89 crore for the quarter ended September 30, 2015.

Kotak Mahindra Bank's standalone gross non-performing assets stood at 2.49% as at the end of September 2016 quarter, against 2.5% in the June quarter. On net basis, NPAs stood at 1.20% in the second quarter, compared to 1.21% in the preceding quarter. 

At Rs 788, Kotak Mahindra Bank shares are now up marginally from yesterday's closing price.

Sify Editors @  1:50 PM
Bharti Infratel
(up 3% at Rs 381) reported a 2.3% increase in consolidated net profit to Rs 773.8 crore in the September 2016 quarter, from Rs 756.2 crore in the April - June 2016 quarter. Year-on-Year, net profit was up 31% in the September 2016 quarter. Revenue rose 2.5 percent to Rs 3291.9 crore, compared to the preceding quarter.

Sify Editors @  1:30 PM
Buy KPIT Technologies (Rs 145) on dips. For short term, hold with a stop loss near Rs 130.

Sify Editors @  1:10 PM
Nava Bharat Ventures
is up 4.5% at Rs 144 following an announcement from the company that it has successfully completed the stake sale in its subsidiaries NBLE and NPCL for $10.15 million.

Nava Bharat Ventures said that its wholly-owned subsidiary Nava Bharat Singapore had entered into a sale and purchase agreement with Chaleun Sekong Group Sole Co., to sell 100% equity stake in NBLE (wholly owned subsidiary of NBS) and thereby its 70% equity stake in NPCL which has been developing the 150 megawatts (MW) Hydel Power Project in Lao PDR.

Sify Editors @  12:45 PM
Sensex regains some lost ground; Bank stocks mostly down amid cautious moves

Bank stocks are mostly lower amid cautious trades ahead of results. Axis Bank, HDFC Bank, Federal Bank, IDBI Bank, IDFC Bank, Kotak Bank and State Bank of Mysore are scheduled to report their second quarter earnings today.

Meanwhile, the broad market has regained some lost ground thanks to selective buying at lower levels at several counters.

The Sensex, which had declined to 28,013.69 is now at 28,159.09, down 90.34 points or 0.32% from its previous close. The Nifty50 of the National Stock Exchange is down 14.25 points or 0.16% at 8694.70, more than 30 points off the day's low of 8663.45.

Among the stocks in the Nifty Bank index, Bank of Baroda, HDFC Bank, Bank of India, Yes Bank, State Bank of India and Canara Bank are down 0.4% - 0.8%. IndusInd Bank is down marginally, while Kotak Bank and Punjab National Bank are flat. Axis Bank (0.7%), ICICI Bank (0.75%) and Federal Bank (1.3%) are trading higher.

From the Nifty PSU Bank index, Oriental Bank of Commerce is lower by 2%. Syndicate Bank, Andhra Bank and IDBI Bank are down 0.25% - 0.7%. Union Bank of India is up marginally and Allahabad Bank is gaining 0.4%.

Sify Editors @  12:20 PM
Hold Torrent Power with a stop loss at Rs 166. Long term investors can add at declines.

Sify Editors @  12:00 PM
Sensex falls; Tata Group firms lead losers

Indian shares fell on Tuesday, dragged down by stocks of Tata Group companies after Cyrus Mistry was ousted as chairman of salt-to-software conglomerate Tata Sons, in a move that caught markets by surprise.

Tata Sons, which is a large shareholder in a string of listed Tata Group companies, announced late on Monday that Ratan Tata would replace Cyrus Mistry as chairman in the interim.

While the Tata Sons' board gave no detailed reason for the change, some media reports said there has been discontent with some of Mistry's actions, including asset sales.

Among the Tata Group companies, Tata Steel was the top percentage loser on the broader NSE index, shedding 2.7 percent, while others such as Tata Power, Tata Consultancy Services and Tata Motors also dropped between 1 and 2 percent.

"Investors are basically exercising caution due to the uncertainty surrounding the sacking," said Mugilan. K, deputy manager of research at Cholamandalam Securities.

"We are mostly seeing short-term trading on Tata stocks as traders are looking to book profit because of the situation. However, this is not likely to sustain for a long period."

Sentiment was also cautious ahead of the quarterly results of heavyweights such as HDFC Bank and Kotak Mahindra Bank, scheduled later in the day. Stocks of the two banks fell between 0.5 percent and 1 percent.

The broader Nifty 50 index was down 0.3 percent at 8,683.05 as of 0520 GMT, while the benchmark BSE index was trading 0.39 percent lower at 28,068.

Sify Editors @  11:35 AM
Praj Industries is a good one for long term. Buy at current levels and add more at declines. For near term, hold with a stop loss at Rs 78.

Sify Editors @  11:15 AM
Tata Group shares still under pressure

Tata Group companies' shares continue to languish in negative territory, after having opened on a dismal note this morning following the ouster of Cyrus P Mistry as Chairman of Tata Sons.

The move has surprised investors. Though some market watchers consider the move mysterious, there are many who appear to have sensed this move already, as reports suggest differences over the way Mistry was dealing with some key challenges the group is currently facing. Some are of the view that there were decisions of Mistry which were  challenged by Ratan Tata.

In fact, some indication about a change emerged when the Tata Group brought in Ajay Piramal of Piramal Enterprises and Venu Srinivasan of TVS Motor, to the board of Tata Sons.

Mistry's decision to clear Tata Power's acquisition of Welspun's solar farms for around $1.4 billion was supposedly made without the approval from Tata and other prominent shareholders.

Among other decisions that perhaps did not go well with the Group were, the disposal of Indian Hotels' overseas properties, the decision to shut the operations of UK Steel and the legal battle with NTT Docomo, challenging the $1.2-billion international arbitration court’s order that went against the group.

Sify Editors @  10:35 AM
Profit booking, negative global cues and a weakened rupee, depressed the Indian equity markets during the early morning trade session on Tuesday.

Besides, scrip prices of variousAsubsidiariesAof industrial conglomerate Tata Sons corrected, a day after Cyrus P. Mistry was removed as its Chairman.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 30.55 points or 0.35 per cent to 8,678.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,159.09 points, traded at 28,066.25 points (at 10.00 a.m.) -- down 112.83 points or 0.40 per cent from the previous close at 28,179.08 points.

The Sensex has so far touched a high of 28,211.41 points and a low of 28,028.59 points during the intra-day trade.

The BSE market breadth was firmly in favour of the bears -- with 1,157 declines and 830 advances.

Sify Editors @  9:50 AM
Sensex down 145 points; Tata Group shares decline

The Indian stock market is trading lower Tuesday morning, with shares of Tata Group companies taking a trip down south after the board of Tata Group decided to oust Tata Sons Chairman Cyrus P Mistry and nominated Ratan Tata as the interim chief for four months.

Global cues are mixed. While the U.S. market closed higher overnight, Asian markets are exhibiting a mixed trend today. Meanwhile, investors are looking ahead to some key earnings reports from India Inc.

The Sensex is down 145.10 points or 0.52% at 28,033.98, around 20 points off a low of 28,013.69 it touched a little while ago. The Nifty50 of the National Stock Exchange is down 37.85 points or 0.43% at 8671.10.

In the forex market, the rupee is trading at 66.91 against the U.S. dollar, down 0.11% from its previous close of 66.85.

Tata Steel is down by about 2.3%. Tata Motors is trading lower by about 1.2%, after having recovered from a sharp setback at the start.

Sify Editors @  9:15 AM
Shares of Tata Group companies tumble as board ousts Mistry

This has turned out to be a bad morning for shares of Tata Group companies, following the ouster of Cyrus P Mistry as chairman of Tata Sons.

Tata Steel and Tata Motors, the Sensex components, are down 2% and 0.2%, respectively. Tata Motors declined to Rs 547.70, before edging higher to around Rs 558.

Tata Metaliks, which plunged nearly 9% to Rs 385.45, is now at Rs 408, down 3.4% from its previous closing price. Tata Communications and Tata Global Beverages tumbled 5% and 4%, respectively, before regaining a bit of lost ground. Tata Investment Corporation, down 1.2% now, had slipped more than 3% earlier. Tata Sponge, Tata Coffee and Tata Power are down 1.3% - 2%, while Tata Teleservices (Maharashtra) is bucking the trend and gaining about 2%.

On Monday, Tata Group removed Cyrus P Mistry from the post and has named Ratan Tata as the interim chairman. No specific reason has been stated by the board of Tata Group for the sudden move.


volume toppers bse

Company Name Current
Spicejet Ltd. 70.85 67.00
Adani Power Ltd. 25.80 26.95
Arvind Mills Ltd. 403.60 359.50
Jaiprakash Associate 11.40 11.47

volume toppers nse

Company Name Current
Federal Bank Ltd. 81.20 71.90
Arvind Mills Ltd. 403.45 358.55
Adani Power Ltd. 25.80 26.65
ICICI Bank Ltd. 289.25 270.35
Bullion Rates Share
Cities Gold (10g) Silver (1Kg)
Chennai Rs. 30480.00 Rs. 42535.00
Mumbai Rs. 31561.50 Rs. 42535.00
Delhi Rs. 31016.04 Rs. 42535.00
Kolkata Rs. 31294.12 Rs. 42535.00
Kerala Rs. 30213.90 Rs. 42535.00
Buy/Sell Advice Share
Source Company Action
Firstcall Grasim Industries Buy
ICICIDirect Cipla Buy
ICICIDirect ACC Sell

monthly gainers bse

Company Name Current
Change %
Pearl Agriculture Lt 101.50 93.43
Sunshine Factors & E 53.30 74.58
Prime Securities Ltd 44.50 71.66
Dynacons Technologie 62.55 68.84

monthly losers bse

Company Name Current
Change %
Trent Ltd. 204.15 -963.73
Grasim Industries Lt 973.15 -379.09
Hubtown Ltd. 106.70 -368.70
Oripro Ltd. 42.60 -305.40

monthly gainers nse

Company Name Current
Change %
Prime Securities Ltd 44.40 69.82
Dynacons Technologie 62.40 69.23
Sunil Hitech Enginee 434.85 59.69
Sentinel Tea and Exp 58.30 55.15

monthly losers nse

Company Name Current
Change %
Trent Ltd. 203.85 -951.61
Grasim Industries Lt 972.95 -380.34
Hubtown Ltd. 106.50 -370.00
Mandhana Industries 30.50 -262.30

Bse top gainers

Company Name Current Change
Manappuram Finance L 104.50 204.22
Florence Investech L 718.00 111.43
Cholamandalam Invest 1179.35 82.90
Jindal Stainless Ltd 39.85 81.55

Bse top losers

Company Name Current Change
VKJ Infradevelopers 12.50 -89.86
Bajaj Finance Ltd. 1141.50 -81.57
Max India Ltd. 140.45 -74.70
Welspun Corp Ltd. 71.95 -32.50

Nse top gainers

Company Name Current Change
Maruti Suzuki India 5781.45 978.33
Cholamandalam Invest 1175.70 546.52
APL Apollo Tubes Ltd 922.10 478.30
Sterlite Technologie 107.10 376.00

Nse top losers

Company Name Current Change
Hubtown Ltd. 106.50 -87.98
Max India Ltd. 140.55 -74.62
TV18 Broadcast Ltd. 45.45 -49.13
Malu Paper Mills Ltd 34.65 -22.40
Forex Rates Share
Currency INR
British Pound 103.36
US Dollar 61.99
Euro 84.82
Japanese Yen 0.60
Singapore Dollar 47.17