Thursday 14 February 2019

IDEAL STOCK MARKET UPDATE | MARKET OPENS

Market at pre-open:
Benchmark indices are trading flat in the pre-opening session on Friday with Nifty above 10,750 level.

At 09:01 hrs IST, the Sensex is up 106.93 points or 0.30% at 35983.15, and the Nifty up 30.70 points or 0.29% at 10776.70.

Yes Bank, Zee Entertainment are among major gainers, while JSW Steel is trading lower in pre-opening trade.

Rupee Opens:
The Indian rupee opened marginally lower at 71.23 per dollar on Friday versus Thursday's close 71.16.

Global Markets :
US House passes border security bill, sends to Donald Trump
The US House of Representatives on Thursday approved a bipartisan border security bill aimed at averting a government shutdown and sent it to President Donald Trump, including new barriers for part of the
U.S.-Mexico border but not the $5.7 billion he sought.The Democratic-run House backed the measure, a spending bill providing over $300 billion for several government departments and agencies, 300 to 128. It passed the Senate earlier on Thursday. The White House has said Trump will sign it into law, but will also attempt to use unilateral powers to obtain money for a wall.

Wall Street ends mixed: 
Wall Street struggled to reverse early losses on Thursday as an unexpected drop in retail sales dampened investor hopes for progress at the ongoing US-China trade talks in Beijing.

Asia trades mixed:
Asian stocks slipped on Friday after grim US retail sales figures raised fresh doubts about the strength of the US economy, offsetting optimism on trade talks between the United States and China.

SGX Nifty:
Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 7 points or 0.06 percent. Nifty futures were trading around 10,800-level on the Singaporean Exchange.

Domestic Markets :
Results on February 15: Amtek Auto, Garg Furnace, Integrated Technologies, Siddha Ventures, VCU Data Management

Here are stocks that are in the news today:
Jet Airways: Board approved a Bank led Provisional Resolution Plan (BLPRP) which proposes restructuring under the provisions of the RBI circular in order to meet a funding gap of nearly Rs 8,500 crore.

Minda Industries: Board approved composite scheme of amalgamation amongst Harita Limited and Harita Venu Private Limited and Harita Cheema Private Limited and Harita Financial Services Limited and Harita Seating Systems Limited and Minda Industries Limited and their respective shareholders.

Govt hikes minimum selling price of sugar by Rs 2/kg
Infibeam Q3 - Net profit at Rs 27 cr Vs Rs 1.9 cr, YoY
Prime Focus Q3: Profit at Rs 26.8 crore versus loss Rs 8.65 crore; revenue jumps to Rs 645 crore versus Rs 590 crore YoY.

JK Tyre & Industries: Board approved issue of equity shares of Rs 2 each of the company to the promoter group on preferential basis, upto an amount aggregating to Rs 200 crore.

JK Tyre & Indusries Q3: Consolidated profit jumps to Rs 26.7 crore versus Rs 11 crore; revenue rises to Rs 2,731 crore versus Rs 2,123 crore YoY.

Nitco Q3: Loss Rs 8.9 crore versus loss Rs 8.1 crore; revenue rises Rs 166.2 crore versus Rs 137.8 crore YoY.

Liberty Shoes Q3: Profit dips to Rs 1.21 crore versus Rs 2.65 crore; revenue declines to Rs 145.44 crore versus Rs 163.2 crore YoY.

Donear Industries Q3: Profit rises to Rs 5.14 crore versus Rs 4.74 crore; revenue increases to Rs 152 crore versus Rs 131.5 crore YoY.

S Chand & Company Q3: Consolidated loss at Rs 81.5 crore versus loss Rs 26 crore; revenue Rs 4.6 crore versus Rs 68 crore YoY.

Kitex Garments Q3: Profit down 30 percent to Rs 12 crore versus Rs 17.6 crore; revenue down 7.6 percent to Rs 136 crore versus Rs 147.3 crore YoY

Tata Teleservices Q3: Net loss at Rs 409.4 crore versus loss of Rs 480.7 crore; revenue down 27 percent at Rs 305 crore versus Rs 418.3 crore YoY

CCL Products Q3: Consolidated net profit down 19.3 percent at Rs 33 crore versus Rs 40.4 crore; consolidated revenue down 14.6 percent at Rs 234.1 crore versus Rs 274 crore YoY

Surya Roshni Q3: Profit up 0.3 percent at Rs 31.1 crore versus Rs 31 crore; revenue up 22.3 percent at Rs 1,605.3 crore versus Rs 1,312.8 crore YoY

Eveready Industries Q3: Profit down 99 percent at Rs 0.2 crore versus Rs 20.9 crore; revenue up 2.6 percent at Rs 379.2 crore versus Rs 369.6 crore YoY.

Jet Airways Q3: Net loss of Rs 587.8 crore versus profit of Rs 165.2 crore; revenue up 1 percent at Rs 6,148 crore versus Rs 6,086.2 crore YoY.

Deep Industries Q3: Net profit down 18.3 percent at Rs 15 crore versus Rs 18.3 crore; revenue down 21.2 percent at Rs 61 crore versus Rs 77.6 crore YoY.

Adhunik Metaliks Q3: Net loss of Rs 125 crore versus loss of Rs 123.8 crore; operating revenue nil versus Rs 159.4 crore YoY.

ONGC Q3: Net profit at Rs 8,262.7 crore; revenue at Rs 27,694 crore YoY

Indian Acroreylics Q3: Net profit at Rs 5 crore versus Rs 0.62 crore; revenue up 12 percent at Rs 101.2 crore versus Rs 90.3 crore YoY.

Glenmark Pharma Q3: Net profit up 15.2 percent at Rs 107.6 crore versus Rs 93.4 crore; revenue up 15.9 percent at Rs 2,555 crore versus Rs 2,203.6 crore YoY.

MTNL Q3: Net loss at Rs 832.3 crore versus loss of Rs 639 crore; revenue at Rs 514.5 crore versus Rs 580.1 crore YoY.

Finolex Cables Q3: Net profit up 1.4 percent at Rs 75.9 crore versus Rs 74.9 crore; revenue up 14.1 percent at Rs 749.5 crore versus Rs 656.8 crore YoY.

Indiabulls Real Estate Q3: profit at Rs 202.4 crore versus loss of Rs 3.3 crore; revenue at Rs 1,271.1 crore versus Rs 242.1 crore YoY.

J Kumar Infraprojects: Company received work order worth Rs 444.98 crore of Delhi Metro Rail Corporation.

Tera Software: Company received projects three projects worth Rs 252.74 crore, Rs 33.75 crore and 2.15 crore respectively.

Bulk Deals on February 14

NSE
Automotive Axles: UTI Mutual Fund A/C UT160 (UTI-Mid Cap Fund) sold 1,89,511 shares of the company at Rs 1,130 per share.
Suumaya Lifestyle: Bakulesh Omprakash Agarwal sold 1,60,000 shares of the company at Rs 31 per share.
Tara Jewels: Punjab National Bank sold 2,00,000 shares of the company at Rs 0.55 per share.
Zee News: IFCI sold another 59,59,344 shares of the company at a price of Rs 13.38 per share.

BSE
Automotive Axles: UTI Mutual Fund also sold 1,50,000 shares of the company at Rs 1,130 per share on the BSE.
Punj Lloyd: IFCI sold 20,34,050 shares of the company at Rs 1.56 per share whereas Alpha Leon Enterprises LLP bought 28,00,000 shares of the company at Rs 1.56 per share.

Analyst or Board Meet/Briefings
Aurobindo Pharma: Company's officials will be attending investor conference on February 15 hosted by IIFL Securities in Mumbai.
Tata Global Beverages: Meetings proposed to be held with Institutional Investors in Mumbai on February 21.
Quick Heal Technologies: Officials of the company will be attending investor conference hosted by Edelweiss Securities on February 15 in Mumbai.
Wipro: Company's officials will be meeting analysts/investors on February 15 and February 20.
Havells India: Company's officials will be attending Kotak Conference organized by Kotak Securities on February 18 at Mumbai.
Phoenix Mills: Company's officials will be attending Edelweiss India Conference organized by Edelweiss Securities on February 15 at Mumbai and Kotak Conference organized by Kotak Securities on February 18 at Mumbai.
HeidelbergCement India: Company's representatives Jamshed Naval Cooper, Managing Director; Anil Sharma, CFO and Amit Angra, Senior General Manager - Finance will be meeting the representatives of various institutional investors/fund houses at meetings organised by Edelweiss Securities on February 15 at Mumbai.

Som Distilleries & Breweries: Senior management of the company is scheduled to meet investors in 1x1 / group meetings at the Edelweiss India Conference on February 15 in Mumbai.

Nestle India: Board approved the convening of 60th annual general meeting of the company on April 25, 2019.

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