Equity benchmarks have begun marginally lower, with the Nifty trading just below 10,900.
The Sensex is down 47.42 points or 0.13% at 36347.61, and the Nifty down 13.70 points or 0.13% at 10875.10. The market breadth was narrow as 179 shares advanced, against a decline of 137 shares, while 43 shares were unchanged.
Majority of sectoral indices are trading in the near the flat line, but pain is visible among automobiles, IT and metals. The Midcap index is trading flat.
Coal India, Tata Motors, Indiabulls Housing and IOC were the top gainers, while NTPC, Axis Bank, GAIL and Eicher Motors lost the most.
Rupee Opens :
The Indian rupee has witnessed a flat opening at 71.17 per US dollar against Monday’s close of 71.18 per US dollar.
The rupee strengthened by 13 paise to close at 71.18 against the US dollar Monday on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies.
Global Markets :
Asian stocks subdued, focus on new round of Sino-US talks.
Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings.
MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 percent after a market holiday on Monday.
US and Chinese officials expressed hopes on Monday that a new round of talks would bring them closer to easing their months-long trade war.
Beijing and Washington are trying to hammer out a deal before a March 1 deadline, without which US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.
Analysts are now expecting US corporate earnings for the current quarter to drop 0.2 percent from last year, which would mark the first contraction since the second quarter of 2016.
In the currency market, the dollar held firm, having gained for eight straight sessions against a basket of six major currencies until Monday, its longest rally in two years.
Although the Federal Reserve’s dovish turn dented the dollar earlier this year, some analysts noted the US currency still has the highest yield among major peers and that the Fed continues to shrink its balance sheet.
Oil prices ticked up slightly after falls on Monday as traders weigh support from OPEC-led supply restraint and a slowdown in the global economy.
US crude futures traded at $52.55 per barrel, up 0.27 percent.
The Dow Jones Industrial Average fell 53.22 points, or 0.21 percent, to 25,053.11, the S&P 500 gained 1.92 points, The S&P 500 posted 32 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 62 new highs and 23 new lows.or 0.07 percent, to 2,709.8 and the Nasdaq Composite added 9.71 points, or 0.13 percent, to 7,307.91.
Apple Inc edged 0.6 percent lower after industry research firm IDC said in a report that iPhone sales in China fell by 20 percent in the fourth quarter.
Advancing issues outnumbered declining ones on the NYSE by a 1.86-to-1 ratio; on Nasdaq, a 1.52-to-1 ratio favored advancers.
Volume on US exchanges was 6.23 billion shares, compared with the 7.43 billion average over the last 20 trading days.
Domestic Markets :
Results on February 12:
Coal India, Sun Pharma, Hindalco Industries, CRISIL, Excel Realty, Karur Vysya Bank, HMT, Krebs Biochemicals and Industries, Religare Enterprises, HEG, Tree House Education & Accessories, Global Vectra Helicorp, Orissa Minerals Development Company, RITES,
D-Link (India), Opto Circuits (India), Mask Investments, Vadilal Industries, Indbank Merchant Banking Services, Redington (India), Lyka Labs, Patel Engineering, TGB Banquets And Hotels, NLC India, Automotive Axles, NCC, Jain Irrigation Systems, GE Power India, Olectra Greentech, Kilitch Drugs (India)
Here are stocks that are in the news today:
SUUTI to sell up to 3% stake in Axis Bank via OFS :
The Specified Undertaking of Unit Trust of India (SUUTI) will sell up to 3 percent stake in Axis Bank. The floor price has been set at Rs 689..52 per share, roughly a 3 percent discount to the February 11 closing price of Rs 710.35 per share.
The government is expected to raise Rs 5,316 crore according to a filing.
A total of 50,759,949 equity shares with a face value of Rs 2 or 1.98 percent equity will be on offer with an option to sell an additional 26,337,187 shares or 1.02 percent of the equity in case of oversubscription.
SUUTI, which was created to take over part of the assets and liabilities of the now defunct Unit Trust of India (UTI), owned 9.56 percent stake in Axis Bank at the end of December 2018.
United Bank of India: Bank allotted more than 181.73 crore equity shares at a price of Rs 11.88 apiece to the President of India, aggregating Rs 2,159 crore.
State Trading Corporation Q3: Loss at Rs 839 crore versus profit at Rs 19 crore; revenue falls to Rs 1,623 crore versus Rs 2,237 crore YoY.
Triveni Turbine Q3: Profit increases to Rs 22.83 crore versus Rs 19.4 crore; revenue rises to Rs 211.34 crore versus Rs 165.6 crore YoY.
India Home Loan: Board approved fund raising plan.
ITI Q3: Consolidated profit dips to Rs 13.6 crore versus Rs 76.24 crore; revenue jumps to Rs 563.2 crore versus Rs 251 crore YoY.
Andhra Bank Q3: Loss at Rs 578.6 crore versus Rs 532 crore; net interest income rises to Rs 1,698.27 crore versus Rs 1,672.21 crore YoY.
GE T&D India Q3: Profit dips to Rs 5.3 crore versus Rs 7.2 crore; revenue falls to Rs 117 crore versus Rs 144 crore YoY.
Ind-Swift Q3: Loss at Rs 3.7 crore versus Rs 14 crore; revenue dips to Rs 64 crore versus Rs 77 crore YoY.
IL&FS Transportation Networks: Interest due and payable on February 11 on the NCD was not paid to the debenture holders due to insufficient funds.
Gujarat Narmada Valley Fertilizers & Chemicals Q3: Profit dips to Rs 165.7 crore versus Rs 227.88 crore; revenue drops to Rs 1,219.2 crore versus Rs 1,590.9 crore YoY.
PI Industries Q3: Profit rises to Rs 107.3 crore versus Rs 80.6 crore; revenue rises to Rs 707.5 crore versus Rs 537.7 crore YoY.
Rico Auto Industries Q3: Profit dips to Rs 10.80 crore versus Rs 13.2 crore; revenue rises to Rs 334.5 crore versus Rs 303 crore YoY.
Ind-Swift Labs Q3: Profit jumps to Rs 42.26 crore versus Rs 0.07 crore; revenue rises to Rs 196 crore versus Rs 166 crore YoY.
Gulf Oil Lubricants India: Company announced its association with Mahindra Logistics to strengthen its supply chain and to implement its post GST supply chain consolidation strategy.
Jaypee Infratech Q3: Loss at Rs 326.6 crore versus loss Rs 361.3 crore; revenue rises to Rs 338.6 crore versus Rs 59.9 crore YoY.
Edelweiss Financial Services: Allianz Investment Management strategically invests in Edelweiss' Private Debt Platform'.
Hindustan Copper Q3: Profit rises to Rs 34.6 crore versus Rs 19 crore; revenue increases to Rs 474 crore versus Rs 431 crore YoY.
Corporation Bank Q3: Profit at Rs 60.5 crore versus loss Rs 1,240.5 crore; net interest income rises to Rs 1,303.02 crore versus Rs 1,263.41 crore YoY.
Persistent Systems: Company appoints Christopher O'Connor as CEO designate.
JBM Auto Q3: Profit rises to Rs 18 crore versus Rs 15.14 crore; revenue increases to Rs 430 crore versus Rs 396 crore YoY.
Alembic Pharma: Aleor Dermaceuticals, a 60:40 Joint Venture between company and Orbicular Pharmaceutical Technologies, has completed United States Food and Drug Administration inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations.
Bhartiya International: Board approved appointment of Snehdeep Aggarwal as an Executive Chairman and Raj Kumar Chawla as the CFO of the company.
Max India: Rahul Khosla to transition from Group President to a Group Advisor role in line with agreed plans; Analjit Singh to become Chairman of Max Life and Max India; Mohit Talwar to become Group Vice Chairman.
Analyst or Board Meet/Briefings
Hero MotoCorp: Company's officials will be meeting analysts/investors on February 12, 13, 14 and 15.
UPL: Company has scheduled to meet analysts / investors at a conference being organized by Antique Stock Broking on February 12 and Edelweiss Securities Limited on February 13, in Mumbai.
Symphony: Company's officials will be meeting Janus Henderson lnvestors on February 22 and Mondrian lnvestment Partners on February 25.
ABB India: Board meeting is scheduled on March 1 to consider the annual audited accounts for the financial year ended December 2018, and recommendation of dividend, if any.
Mindtree: Company's officials will be meeting analysts/investors on February 14 & 15 in Non Deal Roadshow in Hong Kong and attending Chasing Growth 2019, Investor Conference at Mumbai on February 19.
Endurance Technologies: A one-on-one meeting with Nomura Asset Management Singapore Limited (Nomura) has been scheduled on February 13.
Tata Steel: Company's officials will be meeting investors/analysts on February 12, 13, 14 and 18.
PNB Housing Finance: Company's officials will be attending Edelweiss Securities India Conference at Mumbai on February 13, IIFL Institutional Investor Conference at Mumbai on February 14 and Kotak Institutional Investor Conference at Mumbai on February 19.
Mangalam Cement: Conference Call on February 12 in Singapore & Hong Kong.
KEC International: Company's officials will be meeting IIFL Securities on February 13 and Edelweiss Securities on February 15.
Ramco Cements: Investors' meet is scheduled on 12, 14 and 15 of February 2019 at Mumbai.
Hinduja Global Solutions: Senior management of the company is scheduled to attend Edelweiss Investor conference on February 13.
Bharat Electronics: Company's officials will be attending Antique Investor Conference at Mumbal on February 12, Edelweiss India Conference 2019 at Mumbal on February 13, and IIFL's Enterprising India Investors Conference on February 14.
Future Supply Chain Solutions: Company's officials will be attending Antique Investor Conference at Mumbal on February 12 and Edelweiss India Conference 2019 at Mumbal on February 13.
Eicher Motors: Company's officials will be meeting analysts/investors on February 12 and 13.
Crompton Greaves Consumer Electricals: Company's officials will be meeting analysts/investors on February 12.
Take Solutions: A conference call for analysts and investors to be held on February 13 after the announcement of financial results for the quarter and nine months ended December 2018.
TCI Express: Company's officials will be meeting analysts/investors on February 13.
for more update like stock cash tips, stock cash trading, ideal intraday cash tips, bullion tips
No comments:
Post a Comment