Sensex, Nifty flat in choppy trade; RIL down 4%, UltraTech surges
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25 Jan 2021, 10:13:10 AM IST
Faster-than-expected debt reduction a shot in the arm for Ultratech stock
Cement maker Ultratech Cement Ltd reported stellar earnings for the December quarter, with volumes growing 14% year-on-year to 23.9 million tonnes. Analysts say, this growth is higher than the industry and comes along with strong margin expansion. Reacting to the earnings, the Ultratech stock hit a fresh 52-week high of ₹5,831 on the NSE on Monday.
Another key takeaway for investors was sequential net debt reduction of Rs2,696 crore to Rs9,436 crore. On a year-to-date basis this fiscal, net debt is down by Rs7,424 crore. Further, its consolidated net debt/Ebitda fell from 1.87 times to 0.84 times y-o-y. Ebitda is short for earnings before interest, tax depreciation and amortization.
25 Jan 2021, 10:00:20 AM IST
Sebi bowls a googly with bold ideas on exchange ownership
The Securities and Exchange Board of India (Sebi) has started the new decade with a bang. Early this year, the regulator issued a discussion paper, with proposals for ownership in stock exchanges that are revolutionary by Sebi’s standards. The paper envisages 100% ownership by a single entity in an exchange, to start with. This is a far cry from the thought process in the Bimal Jalan committee report issued about 10 years ago. (Full Report)
25 Jan 2021, 09:57:55 AM IST
Indices erase morning gains, slip into the red
At 0947am, the Sensex was down 263.05 points or 0.54% at 48,615.49, and the Nifty was down 85.20 points or 0.59% at 14,286.70. About 697 shares advanced, 1,455 declined, and 101 were unchanged.
25 Jan 2021, 09:47:54 AM IST
Market view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Even though the markets have opened in the green, a stiff resistance awaits the index at 14550-14600. We will resume the uptrend only if we can manage to get past that trading zone on the back of healthy volumes. Until then the Nifty seems nervous in the short term time frame with a downward bias. We can go down to 14000-14100 levels.
25 Jan 2021, 09:47:12 AM IST
Top gainers/losers on Nifty
25 Jan 2021, 09:38:18 AM IST
UltraTech Cement hit fresh high
The cement maker reported a consolidated net profit of ₹1,584 crore for the December ended quarter, up a sharp 122% year-on-year. Revenue from operations rose 17.4% to ₹12,254.12 crore.
25 Jan 2021, 09:34:41 AM IST
Aadhar Housing Finance said to plan $1 billion IPO filing soon
Aadhar Housing Finance Ltd., controlled by Blackstone Group Inc., plans to file a draft prospectus for its initial public offering in India as soon as this month, according to people familiar with the matter.
Aadhar, one of India’s largest mortgage providers to low-income earners, plans to raise as much as $1 billion from the share sale, the people said. The Mumbai-based company is looking to launch the offering as soon as the first half of this year, said the people, who asked not to be identified as the information is private.
25 Jan 2021, 09:31:20 AM IST
RIL worst hit stock on Sensex at this hour
Shares of Reliance Industries Ltd (RIL) have declined about 5% in the past six months compared with gains of about 30% in the Nifty 50 index. In the six months prior to that, RIL shares had risen more than 40%, while the Nifty had fallen 5%. One of the reasons the company’s shares have lost steam is that they had risen too high, too soon. Besides, financial performance lately hasn’t been as spectacular as some on the Street had hoped. (Full Report)
25 Jan 2021, 09:27:58 AM IST
Nifty in opening deals
25 Jan 2021, 09:20:56 AM IST
Sensex in opening deals
25 Jan 2021, 09:07:28 AM IST
Sensex stocks in pro-open trade
25 Jan 2021, 09:04:55 AM IST
Nifty in pre-opening
25 Jan 2021, 09:04:32 AM IST
Sensex in pre-open
HDFC Securities says.”/>
25 Jan 2021, 08:48:08 AM IST
“…For Nifty, the important support to watch out would be 14222, below which the recent bullish structure will get distorted to extend the correction towards 14000 – 13800 levels. On the higher side, 14500 – 14632 would be seen as immediate hurdles…,” Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
“…A decisive move below 14,220 could open a larger downward correction in the market and any rise from here is likely to attract selling pressure around 14,460-14,520 levels by next week,” Nagaraj Shetti of HDFC Securities says.
25 Jan 2021, 08:41:27 AM IST
RBI plans stricter norms for NBFCs
The Reserve Bank of India (RBI) on Friday proposed to tighten rules for major non-bank lenders to prevent a collapse in one of them from affecting the financial system.
The regulator proposed to classify the non-banking financial companies (NBFCs) into four categories, depending on their systemic importance and potential risk to the stability of the financial system. (Full Report)
25 Jan 2021, 08:30:12 AM IST
Stove Kraft IPO opens today
The initial public offering of Stove Kraft, maker of kitchen appliances, opens today. It is the fourth company to launch IPO this month after Indian Railway Finance Corporation, Indigo Paints, and Home First Finance Company. The issue will close on 28 January 28.
Shares will be listed on both BSE and the National Stock Exchange. Edelweiss Financial Services and JM Financial are the book running lead managers to the offer.
PG Life Sciences, Sharda Cropchem and UCO Bank are among 41 companies that are scheduled to announce their quarterly earnings on 25 January.”/>
25 Jan 2021, 08:09:17 AM IST
Stocks to Watch
Shares of Reliance Industries Ltd, Tata Steel, JSW Steel, NBFCs, among others, will be in focus on Monday.
Larsen & Toubro, Kotak Mahindra Bank, Can Fin Homes, Chennai Petroleum Corporation, ICICI Securities, Mahindra Holidays & Resorts India, Navin Fluorine International, RPG Life Sciences, Sharda Cropchem and UCO Bank are among 41 companies that are scheduled to announce their quarterly earnings on 25 January.
25 Jan 2021, 08:07:46 AM IST
SGX Nifty suggests higher opening for Indian stock markets
SGX Nifty futures traded 116.05 points higher at 14,536.00, indicating a strong opening for Indian benchmarks.
On Friday, the S&P BSE Sensex declined 746.22 points to 48,878.54, while the Nifty50 index had slumped 218.50 points to 14,371.90.
Nikkei fell 0.1%.”/>
25 Jan 2021, 08:03:03 AM IST
Asian equities falter as rising coronavirus cases sour risk appetite
Asian shares were on the defensive on Monday as rising covid-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed at 718.72.
The benchmark is below the record high of 727.31 touched last week but up 8.5% so far in January, on track for its fourth straight monthly rise.
Japan’s Nikkei fell 0.1%.
Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.The three main US indexes closed higher for the week, with the Nasdaq up over 4%.”/>
25 Jan 2021, 07:56:29 AM IST
Wall Street closes mixed on Friday following underwhelming earnings
A gauge of stocks across the world slipped from record highs on Friday and the dollar edged up against a basket of peers as weak economic data and underwhelming earnings drove investors to reverse some recent risky bets.
In the US, the Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.
The three main US indexes closed higher for the week, with the Nasdaq up over 4%.
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Dow Jones – Sensex, Nifty flat in choppy trade; RIL down 4%, UltraTech surges