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The yield on the 10-year bond closed flat at 7.06%.
Source: Bloomberg
Market breadth was skewed in favour of sellers. Around 2,365 stocks advanced, 1,477 stocks declined, and 100 stocks remained unchanged on BSE.
Global markets treaded cautiously awaiting the U.S. FED minutes, while Chinese markets were buoyed by policy interventions, Nair said. "Concerns lingered since investors were heavily betting on a U.S. FED rate cut, which is put at risk by January's higher-than-expected inflation."
Ambuja Cements Ltd. is to invest Rs 1,000 crore to set up cement grinding unit.
It will set up a 4 MTPA cement grinding unit in Jharkhand.
Source: Exchange Filling
UltraTech Cement Ltd has commissioned 1.8 mtpa brownfield cement capacity at Kotputli in Rajasthan.
Alert: This forms part of 22.6 mtpa capacity expansion announced in June, 2022
Source: Exchange Filing
Zaggle Prepaid Ocean Services Ltd signed a pact with Wipro Ltd for employee expense management platform.
Source: Exchange Filing
HFCL Ltd approved setting up optical fiber cable manufacturing facility in Poland.
Poland facility to have initial capacity of 3.25 mfkm/year, capital outlay of up to Rs 144 crore outlay.
Source: Exchange Filing
Patel Engineering JV gets contract bid worth Rs 525 crore for irrigation project in Telangana.
The company's share in irrigation contract is Rs 268 crore; Project to be completed in 24 months.
Source: Exchange filing
Medplus Health Services Ltd.'s board decided not to proceed with fundraising plans.
Defers expansion plans for diagnostics division beyond Hyderabad.
Expansion of diagnostics division on hold until the profitability of pilot project is established.
Approves expansion of pharmacy business through internal accruals and working capital loan.
Source: Exchange filing
Tata Power Company Ltd collaborated with BluSmart with arm of company for sourcing green power.
Source: Exchange Filing
Crompton Greaves Consumer Electricals Ltd had 10 lakh shares changed hands in a large trade.
The company had its 0.2% equity changed hands at Rs 290.5 apiece.
Buyers and sellers are not known immediately.
Source: Bloomberg
Shares of the company rose as much as 5.59% to Rs 175 apiece, compared to a 0.04% advance in the benchmark NSE Nifty 50 at 9:47 a.m. The stock is trading 1.93% higher at Rs 168.90.
It has risen 10.36% on a year-to-date basis. The total traded volume so far in the day stood at 7.2 times its 30-day average. The relative strength index was at 51.69.
15 out of the 22 analysts tracking the stock have a 'buy' rating on the stock, as many as three recommend a 'hold' and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside 9.8%.
The scrip rose as much as 2.79% to Rs 888.00 apiece, the highest level since Feb 18, 2008. It was trading 2.25% higher at Rs 883.35 apiece, as of 10:30 a.m. This compares to a 0.05% decline in the NSE Nifty 50 Index.
It has risen 21.7% on year-to-date basis. Total traded volume so far in the day stood at 0.46 times its 30-day average. The relative strength index was at 71.25, which implied the stock is slightly overbought.
Out of 20 analysts tracking the company, 14 maintain a 'buy' rating, three recommend a 'hold,' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 7.2%.
ABB India's stock rose as much as 8.92% during the day to Rs 4,928 apiece on the NSE. It was trading 8.86% higher at Rs 4,925.35 apiece, compared to a 0.02% advance in the benchmark Nifty 50 as of 10:37 a.m.
It has risen 55.4% in the last 12 months. The total traded volume so far in the day stood at 26 times its 30-day average. The relative strength index was at 63.7.
15 out of the 29 analysts tracking ABB India have a 'buy' rating on the stock, as many as nine recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential decline of 0.4%.
Campus Activeweat at 18.7 x its 30 day average, up 8.5%
Bajaj Consumer Care at 6.61x its 20 day average, up 7.8%
ABB India at 5.22x its 30 day average, up 8.4%
Macrotech Developers at 3.2x its 30 day average, up 4%
Shares of Paytm operator, One 97 Communications Ltd. hit a 5% upper circuit for the fourth consecutive day on Wednesday.
On Monday, Jefferies moved Paytm-operator One97 Communications Ltd. to 'not rated' from 'underperform', until the “news flow settles down”. As the company is hit by regulatory action by the Reserve Bank of India, the brokerage decided not to rate the stock, it said in a Feb. 19 note.
Paytm stock hit an upper circuit of 5% at Rs 395.05 apiece on the NSE. This compares to a 0.21% advance in the benchmark Nifty 50 as of 9:54 a.m.
It has fallen 36.59% in the last 12 months. The total traded volume so far in the day stood at 0.2 times its 30-day average. The relative strength index was at 33.36
Six out of the 14 analysts tracking Paytm have a 'buy' rating on the stock, as many as three recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside 82.3.
Market breadth was skewed in favour of buyers. Around 2,013 stocks rose, 1,051 stocks declined, and 93 remained unchanged on BSE.
At pre-open, the NSE Nifty 50 was trading 51.90 points or 0.23% higher at 22,248.85, and the S&P BSE Sensex was trading 210.08 points or 0.29% higher at 73,267.48.
The yield on the 10-year bond opened flat at 7.05%.
Source: Bloomberg
The local currency strengthened 6 paise to open at 82.91 against the U.S. Dollar.
It closed at 82.97 on Tuesday.
Source: Bloomberg
Campus Activewear Ltd had 40.7 lakh shares changed hands in a large pre-market trade.
The company had 1.3% equity changed hands at Rs 245 apiece.
Buyers and sellers are not known immediately.
Source: Bloomberg
Devyani International had 5.23 crore shares changed hands in a large pre-market trade.
The company had 4.3% equity changed hands at Rs 164.1 apiece.
Buyers and sellers are not known immediately.
Source: Bloomberg
Interest in India remains high
Increased interest among Global ex-US funds as India’s weightage has gone up from 2% to ~5% in last 5yrs
Investors view top-down India as attractive
High valuations remains the key struggle leading to money staying on sidelines
IT Sector Outlook - Improvement in FY25E is widely expected
J.P. Morgan Chase & Co upgraded Hospitals to 'Overweight', and downgraded it to consumer Staples to neutral.
Nifty 50's ex-financial revenue/PAT came at +5%/15%YoY
Softer commodity prices with low energy and freight cost benefitted volume drive.
Real estate, consumer discretionary had most beats
Financials, IT had most misses
Expects input cost benefit to taper
The focus is to shift it to business strength and Balancesheet.
Asia Stocks Drop With Focus On Nvidia, China Moves: Markets Wrap
Union Bank Of India Launches QIP To Raise Rs 3,000 Crore
SEBI Takes Steps To Boost Ease Of Doing Business, Compliance Reporting
ABB India Q4 PAT Grows 13% To Rs 345 Crore
Swan Energy's QIP Opens At Rs 703.29/share
Whirlpool Sells 24% Stake In India Unit For Rs 3,880 Crore
Swan Energy's QIP Opens At Rs 703.29/share
Yum Restaurants To Exit Devyani International For Rs 814.8 Crore
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