Live Markets Commentary

Sify Editors @ 11:10 AM
After Idea and Reliance Jio, it's now Airtel's turn to hog limelight


Things are happening thick and fast for customers in the telecom space. After news about a likely merger of Vodafone India and Idea Cellular, and then, Reliance Jio Infocomm's attractive tariff plans, comes the news about Bharti Airtel signing a definitive agreement to acquire Telenor (India) Communications.

Reports peg the acquisition cost to be around Rs 6800 - Rs 7000 crore, including Telenor's debt of Rs 1500 crore.

Bharti Airtel will buy Telenor India's running operations in seven circles that have a high potential for growth. Additionally, Airtel is set to get 43.4 MHz spectrum in 1800-MHz band that Telenor India holds. Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam are the seven circles Bharti Airtel will get through the Telenor deal.

Bharti Airtel expects the acquisition of of additional spectrum will add to its already solid spectrum portfolio and help create long term value for the company's shareholders thanks to signficant synergies. The acquisition is likely to bring in an additional 44 million subscribers to Bharti Airtel’s existing 266 million. Still, the combine will stay next only to Vodafone - Idea, whose subscriber base will be much larger with close to 400 million users.

On Wednesday, Bharti Airtel sid that it has acquired strategic stake in financial technology company Seynse Technologies Pvt Ltd., which had a turnover of Rs 6.53 lakh in 2015-16. Bharti Airtel acquired this stake through its subsidiary Bharti Airtel Services.

Shares of Bharti Airtel skyrocketed to a 52-week high of Rs 400.65 in early trades this morning, rising nearly 11%. At present, the stock is trading at Rs 380, up 5.2% from Wednesday's closing price.

On BSE, the Bharti Airtel counter has clocked a volume of around 12.3 lakh shares so far in the session, more than six times its daily volume of 1.85 lakh shares. On the National Stock Exchange, the Bharti Airtel counter has clocked a volume of nearly 20 million shares so far in the session.

Sify Editors @ 10:45 AM
Piramal Enterprises
is a good one for medium term. Accumulate at declines.

Sify Editors @ 10:30 AM
Sensex, Nifty modestly higher; Telecom, IT stocks rise

The Indian stock market is trading higher Friday morning, despite weak global cues. With traders rolling over positions ahead of February series derivatives expiry, a few front line stocks have edged higher.

The BSE benchmark Sensex, which rose to 28,972.79, is now at 28,920.27, up 55.56 points or 0.2% from its previous close. The Nifty50 of the National Stock Exchange is up 17.60 points or 0.2% at 8944.50, after having advanced to 8957.15 earlier.

Sify Editors @ 10:10 AM
Hold Siemens if looking at medium or long term. Fresh buying can be considered at declines.

Sify Editors @ 9:50 AM
Hold ITC for medium term gains. Fresh buying can be considered at current levels.

Sify Editors @ 9:30 AM
Sensex opens higher

Taking a cue from positive investments sentiment, the key Indian equity market indices opened higher on Thursday.

The Sensitive Index (Sensex) of the BSE, which had closed at 28,864.71 points on Wednesday, opened higher at 28,927.67 points. Minutes into trading, it was quoting at 28,936.78 points, up by 72.07 points, or 0.25 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,926.90 points, was quoting at 8,943.75 points, up by 16.85 points or 0.19 per cent.

On Wednesday, despite a volatile trade session, the Indian equities markets closed on a positive note, as healthy global cues buoyed investors sentiments. However, outflow of foreign funds and caution ahead of crucial economic events capped gains.

Investors were anxious before the release of US Fed's Federal Open Market Committee (FOMC) and the Reserve Bank of India's Monetary Policy Committee's (MPC) minutes as well as derivatives expiry.

The Sensex surged by 103.12 points or 0.36 per cent in Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 28,963.52 points and a low of 28,789.30 points. The Nifty, too was up by 19.05 points or 0.21 per cent.