IDEAL STOCK MARKET UPDATE

Jet Airways slides 2% after grounding 4 aircraft

Shares of cash-strapped Jet Airways fell as much as 2.2 percent in early trade after the company said it has grounded four aircraft due to non-payment of lease rentals.

"The company is actively engaged with all its aircraft lessors and regularly provides them with updates on efforts undertaken by the company to improve its liquidity," Jet Airways said in a statement on February 7.

Jet Airways added that three aircraft previously grounded for engine normalisation have resumed commercial operations.

The airline has received Rs 258 crore from advanced sale of tickets to its loyalty programme JetPrivilege, according to a PTI report citing an airline spokesperson.

At 09:47 hrs, Jet Airways was quoting at Rs 232.5 on the BSE, down 1.73 percent.

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IDEAL STOCK MARKET UPDATE | MARKET OPENS

MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 percent, easing back from a four-month peak touched the previous day. Japan’s Nikkei fell 1.2 percent.

The European Commission on Thursday sharply cut its forecasts for euro zone economic growth this year and next, stoking fears of a global slowdown spreading to Europe as businesses and investors grappled with trade frictions.

Adding to the gloomy mood, President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.

That rattled investors hoping for a resolution to the months-long trade dispute between the world’s biggest economies. Wall Street shares slumped in response overnight, with the Dow falling 0.9 percent to pull back from a two-month peak scaled midweek on upbeat corporate results.

In commodities, US crude futures slipped 0.3 percent to $52.48 per barrel, extending losses after dropping 2.5 percent in the previous session.

Oil fell on Thursday as the market was hurt by concerns that global demand growth would lag in the coming year.

Domestic Market :

Results on Friday: BPCL, Tata Steel, M&M, Sun TV Network, UCO Bank, Alkem Laboratories, Allcargo Logistics, Inox Wind, Cochin Shipyard, Engineers India, HFCL, Sonata Software, Jk Lakshmi Cement, KRBL, Marksans Pharma, SJVN, VIP Industries

Here are the stocks which are in news today:

Jet Airways: Four aircrafts grounded due to non-payment of amounts outstanding to lessors under lease agreements.

Coffee Day Enterprises: The company reported a profit of Rs 64 crore.

Tata Motors: The company posted a consolidated loss of Rs 26,961 crore.

Borosil Glass: The net profit has risen to Rs 14.7 crore.

Fortis Health approves appointment of Ashutosh Raghuvanshi as CEO

Khadim: Net profit fell 56 percent at Rs 3.9 crore.

Aurobindo Pharma: Q3 net profit at Rs 712 crore.

Varun Beverages: To Acquire PepsiCo's Franchise Rights In 3 States

Raymond: Company clarified on related party transactions undertaken in compliance with laws and on an arm’s length basis

Ceat: Commissioned commercial production of Truck Bus Radial Tyres at the expansion phase of Halol plant in Tamil Nadu with effect from February 7.

Sun Pharma Advanced Research: Company received demand order worth Rs 46.04 crore for payment of Service Tax, from Commissioner of GST and Central Excise (Mumbai).

Shriram EPC: Company received three orders worth Rs 291.6 crore from Jharkhand Government for construction in the water management sector.

Aurobindo Pharma Q3 FY19 net profit zooms 19.7% to Rs 712.2 crore, beats analysts' estimates :

The rise net profit was aided by strong performance of US, Europe, emerging markets and active pharmaceutical ingredients business. Favorable foreign exchange too added to the profit.

Total income rose 21.5 percent to Rs 5,269.7 crore in Q3FY19 compared to previous year's Rs 4,336.1 crore.

Analysts were expecting a net profit of around Rs 650 crore and revenues at Rs 5000 crore.

Indiabulls Housing : has said that Softbank is investing Rs 2,800 crore of equity capital in its associate OakNorth bank, a commercial bank in UK. With this investment the total equity capital in the bank will be Rs 7,000 crore.

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IDEAL STOCK MARKET UPDATE

Cummins India slips 3% despite better Q3 nos; Nomura maintains buy

Share price of Cummins India slipped 3 percent intraday Thursday despite company posted better numbers for the third quarter ended December 2018.

The company reported 8.7 percent jump in its Q3 net profit at Rs 187.1 crore against Rs 172.2 crore in the same quarter last fiscal.

Revenue of the company was up 11 percent at Rs 1,503.8 crore against Rs 1,354.7 crore.

Operating profit or EBITDA rose 15 percent at Rs 226.7 crore, while margin at 15.1 percent.

Nomura has maintained buy call on Cummins India with target at Rs 890 per share.

The domestic execution is strong but exports weakened seasonally, while management is cautions on volatility arising from the upcoming general elections, it said.

Clarity on gross margin and export demand trend are the key to monitor, Nomura added.

Macquarie has maintained outperform rating with a target at Rs 1,024 per share.

According to firm, the company delivered in-line performance, with 11 percent topline growth. There is room for topline guidance to be revised upward and remain positive on the domestic growth opportunity.

At 11:00 hrs Cummins India was quoting at Rs 779.65, down Rs 21.50, or 2.68 percent on the BSE.

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IDEAL STOCK MARKET UPDATE | DERIVATIVE REPORT ON DAILY BASIS

NIFTY FUTURE OUTLOOK:-

MAINTAIN POINT TO YESTERDAY TO TOMORROW

DOLLAR/INR OPEN TO POSITIVE AS COMPARES YESTERDAY TO TOMORROW.

NIFTY FUT. YESTERDAY CLOSING 11098.00,AND NIFTY OPEN 11084.20, TODAY NIFTY FUT. OPEN GAP DOWN.

BANK NIFTY FUTURE OUTLOOK :-

MAINTAIN POINT TO YESTERDAY TO TOMORROW .

DOLLAR/INR OPEN TO POSITIVE AS COMPARES YESTERDAY TO TOMORROW.

BANK NIFTY FUT. YESTERDAY CLOSING 27446.00 , AND BANK NIFTY OPEN 27463.10, TODAY BANK NIFTY FUT. OPEN GAP UP

INTRADAY TRADERS ARE ADVISED TO BANK NIFTY. FUT. RANGE BOUND TODAY RANGE 27280– 27660.

NIFTY TOP GAINERS

NIFTY TOP LOSERS

TODAY TOP NEWS UPDATE :-

TODAY RBI POLICY.

RUPEE TRADERS LOWER AT 71.66 PER DOLLAR AHEAD OF RBI MEET.

NIFTY AND BANK NIFTY FUTURE TODAY RANGE BOUND.

TODAY NIFTY FUTURE LEVEL:-

NIFTY OUTLOOK:-

OUR TECHNICAL CHART SHOWN IN 1 HOURS OR 4 HOURS CHARTS SHOW NIFTY FUTURE TODAY RANGE BOUND 10950 -11140.

BUY NIFTY FUT. B/W 11015 -11040 TGT 11135 STOPLOSS 10950.

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IDEAL STOCK MARKET UPDATE | MARKET OPENS

It is a flat start for the benchmark indices on Thursday morning with Nifty holding above 11,050 level.

At 09:17 hrs IST, the Sensex is up 51.30 points at 37026.53, while Nifty is up 12.70 points at 11075.20. About 415 shares have advanced, 368 shares declined, and 38 shares are unchanged. 

Manappuram Finance, Jet Airways, Grasim, Zee Entertainment, Tata Motors, Cipla, Sun Pharma are some of the early gainers, while losers are JSW Steel, Vedanta, Tata Steel, Lupin, Cummins, Punj Lloyd, Rel Infra, Adani Power, Bombay Dyeing, Vodafone Idea, JSPL, IDFC, Allahabad Bank.

Global Markets 

SGX Nifty:

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.28 percent. Nifty futures were trading around 11,074-level on the Singaporean Exchange.

Wall Street ends lower :

US stocks edged lower on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on US-China trade relations.

Asian markets trade mixed:

Asian share markets were in a muted mood on Thursday and looked set for a sleepy session with China still on holiday and no major economic data on the diary.

Rupee opens tad lower at 71.72 per dollar ahead of RBI meet,

Rupee ahead of the important RBI policy statement is consolidating in range of 71.40 and 72.20 and most market participants are expected to remain cautious ahead of the new RBI governor’s statement. Expectation is that the RBI could consider cutting rates by 25bps and what will be important to watch is whether the central bank does change its stance. This will be the first policy meeting of the new RBI governor and expectation is that the governor may adapt to a more dovish stance as compared to the earlier one

Domestic Markets :

Results Today: Tata Motors, Adani Enterprises, Aurobindo Pharma, Britannia Industries, Cadila Healthcare, Coffee Day Enterprises, Eros International Media, Grasim Industries, Hindustan Construction Company, Ircon International, MRF, Khadim India

RBI Central Board meeting deferred to February 18

Here are the stocks that are in news today :

JSW Steel : Q3 net profit down 10% to Rs 1,603 crore, hurt by steep fall in exports,  compared to Rs 1,774 crore in the year-ago period.

Glenmark Pharmaceuticals : receives tentative ANDA approval for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL)

Majesco : announces launch of its rights offering

Fortis Malar Hospitals Q3:Â Net profit at Rs 1.6 crore Vs Rs 0.9 cr (YoY)

Manappuram Finance Q3:Â Net profit up 44.3% at Rs 247.2 cr Vs Rs 171.2 cr (YoY)

Future Consumer Q3:Â Net loss at Rs 5.4 cr Vs loss of Rs 6.1 cr (YoY)

Vimita Labs Q3:Â Net profit down 14.6% at Rs 5.1 cr Vs Rs 6 cr (YoY)

Control Point Q3:Â Net profit down 17.5% at Rs 5.2 cr Vs Rs 6.3 cr (YoY)

TBZ Q3:Â Net profit up 50% at Rs 11.1 cr Vs Rs 7.4 cr (YoY)

Vodafone Idea: The net loss has widened to Rs 5,004.6 crore during December quarter.

Indraprastha Gas: Net profit grows 6 percent at Rs 198 crore

Cummins India: Profit up 9 percent at Rs 187.1 crore.

UFO Moviez Q3:Â Net profit up 28% at Rs 14.6 cr Vs Rs 11.4 cr (YoY)

Kaya Q3:Â Net loss at Rs 0.4 Cr Vs loss of Rs 3.9 cr (YoY)

Grasim - ICRA assigned rating on NCD as ICRA AAA - Outlook Stable

Bajaj Electricals - CRISIL reaffirmed the long-term rating of [ICRA]A+

Ajanta Pharma - cash offer to buyback 7.69 lakh shares at Rs1300 per share

GAIL offloads pipeline laying contract of Bokaro-Durgapur section from M/s IL&FS

Andhra Bank revised base rate to 9.50% 

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IDEAL STOCK MARKET UPDATE

Govt has more fiscal space than markets gives it credit for, says Neelkanth Mishra of Credit Suisse

Neelkanth Mishra, MD and India Equity Strategist at Credit Suisse, spoke to CNBC-TV18 about the underperformance of the Indian markets compared to the rest of the emerging markets.

"In January, we saw a reversal of what we saw in Q4 of last calendar year. In January, the underperformance was almost 11 percent because of a weaker rupee and broader market was down and global markets were up sharply," Mishra said on Monday.

According to him, the big pain-point have been the mid and smallcaps mainly because of liquidity and there are uncertainty and stress with respect to the domestic growth story. "As the economy slowed in the last 3-4 months, the pace of sell-off has accelerated," said Mishra.

With regards to the consumption space, Mishra said, "For aggregate consumption number, the best measure is private final consumption (PFC) expenditure number that the GDP data talks about and that has been weak for quite some time. The discretionary numbers have weakened. The end of pay commission has a big role to play here along with stalled income transfer because of low food prices and on top of that some of the demand weakness is also a sign of monetary tightens, lack of liquidity."

Talking about the interim Budget and fiscal deficit, Mishra said, "The government has more fiscal space than the market was giving it credit for. Despite the pay commission getting through, our fiscal deficit has not blown out of proportion."

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IDEAL STOCK MARKET UPDATE | MARKET OPENS

Benchmark indices started on positive note on Wednesday with Nifty trading above 10,950 level.

The Sensex is up 98.30 points at 36715.11, while Nifty is up 42.60 points at 10977. About 392 shares have advanced, 202 shares declined, and 33 shares are unchanged. 

Jubilant Food, Tech Mahindra, HPCL, Zee Entertainment, Indiabulls Housing are trading higher, while NTPC, Dr Reddy's Lab, Adani Ports, UltraTech Cement are among major losers.

Rupee Opens :

The Indian rupee opened flat at 71.55 per dollar on Wednesday versus previous close 71.56.

Rupee ahead of the important RBI policy statement is consolidating in range of 71.40 and 72.20 and most market participants are expected to remain cautious ahead of the new RBI governor’s statement. Expectation is that the RBI could consider cutting rates by 25bps and what will be important to watch is whether the central bank does change its stance.

Global Markets :

Wall Street ends higher: 

US stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump.

Asian markets trade mixed:

Asian shares started cautiously on Wednesday as investors waited to see if US President Donald Trump drops any hints of progress on tariffs in his State of the Union speech.

SGX Nifty:

Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 50 points or 0.46 percent. Nifty futures were trading around 11,010-level on the Singaporean Exchange.

Domestic Markets :

Results Today: 
JSW Steel, Siemens, Cipla, Lupin, Adani Ports, Adani Power, Allahabad Bank, IGL, Punj Lloyd, CG Power, PTC India, Venkys

Here are stocks that are in news today:

Realty major DLF on Tuesday reported a 92 per cent drop in its consolidated net profit at Rs 335.15 crore for the third quarter of this fiscal, as it had posted an exceptional profit in the year-ago period from stake sale in rental arm to GIC.

Its net profit stood at Rs 4,091.27 crore in the year-ago period, the company said in a regulatory filing.

Total income, however, rose to Rs 2,405.89 crore during October-December quarter of 2018-19 fiscal year from Rs 1,855.21 crore in the corresponding period of the previous year.

Tech Mahindra Q3 profit rises 13% QoQ, revenue surges 3.6%

Strides Pharma Science gets EIR from USFDA on continued GMP status for the flagship facility in Bangalore

Jubilant Life & Jubilant Food - Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the company and the same stands withdrawn.

HCL Technologies and Harris Geospatial Solutions partner to deliver advanced analytics solutions for the utility industry

Century Plyboards approved a proposal for setting-up a Particle Board and MDF Unit at Uttar Pradesh.

Majesco releases new electronic billing and payment solution built using Majesco Digital 1st Insuran

Lupin Launches Clomipramine Hydrochloride Capsules USP

Marico: The company's net profit grew 13 percent at Rs 251.7 crore.

HPCL: 
The profit has fallen 77 percent to Rs 247.5 crore against previous quarter.

Axis Bank:
 RBI has imposed a penalty of Rs 2 crore.

RBI Imposes Rs 1 crore penalty on Syndicate Bank

Blue Star:
 Profit for Q3 fell 15 percent to Rs 13.2 crore.

Bombay Dyeing: 
The company has posted a net loss of Rs 142.8 crore

NBCC secured the total business of Rs 355.90 crore in the month of January, 2019

Bank of Baroda has revised Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 07th February 2019

Adani Green commissioned 12 MWac Wind Power Project and award of 390 MWac Hybrid Project to Wholly-owned subsidiaries of the company

Dish TV Q3 Cons net profit at Rs 152.7 cr vs Rs 19.7 cr (QoQ)

V-Mart Retail Q3 Net profit up 13.6% at Rs 41.7 cr Vs Rs 36.7 cr (YoY)

Suven Life Sciences Q3 Net profit up 40.2% at Rs 25.1 cr Vs Rs 17.9 cr (QoQ)

Sobha Q3 Net profit up 13% at Rs 60.6 cr vs Rs 53.8 cr (YoY)

Future Enterprises Q3 Net profit at Rs 1.1 cr Vs Rs 81.9 cr (YoY)

Tata Chemicals Q3 Net profit at Rs 266 cr Vs Rs 831.6 cr (YoY)

IDFC First Bank Q3 Net loss at Rs 1,538 cr Vs Rs 146.1 cr (YoY)

Aditya Birla Cap Q3  Net profit up 42% at Rs 206 cr Vs Rs 145 crore (YoY)

Analyst or Board Meet/Briefings

Tube Investments: The company will hold analysts call to discuss financial results on February 7, 2019.

Natco Pharma:
The company will host earnings call on February 13, 2019.

CRISIL: 
Kayne Anderson Rudnick Investment Management will meet the company on February 15, 2019.

AIA Engineering: 
The company will hold a conference call on February 8, 2019. 

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