Home News Indian Stock Market News Stock Market Live: Sensex off day’s lows, Nifty around 14,500; IT stocks drag, auto, FMCG gains

Stock Market Live: Sensex off day’s lows, Nifty around 14,500; IT stocks drag, auto, FMCG gains

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Stock Market Live: Sensex off day’s lows, Nifty around 14,500; IT stocks drag, auto, FMCG gains

Realty sector witnessing enchancment in shopper sentiment; Q4CY20 gross sales up 68%: PropTiger.com

The true property market is seeing an enchancment in shopper sentiment, stated Dhruv Agarwala, CEO of PropTiger.com. He stated that Q4CY20 noticed 68 p.c enhance in gross sales quarter-on-quarter (QoQ). “General if I have a look at the true property market, there’s a clear enchancment in shopper sentiment in direction of buy of actual property and that’s very evident on the varied on-line platforms. Now we have clearly seen a particular enhance in enquiries in addition to visits to those on-line platforms suggesting that shopper sentiment in direction of actual property is on the rise. Gross sales throughout the nation – there was a 68 p.c enchancment QoQ if we examine This fall of 2020 to Q3 of 2020. So there is a rise in shopper sentiment,” he stated in an interview with CNBC-TV18. Extra right here

Centrum Broking: Good time to e-book earnings in auto

 

Individuals are anticipating the robust restoration to proceed that has been seen within the present quarter within the auto sector, stated Nischal Maheshwari, CEO-Institutional Equities and Advisory at Centrum Broking on Thursday. “Now we have to attend to see whether or not these numbers nonetheless translate itself mainly into what we now have seen within the final two-three months particularly on the four-wheelers and likewise on the industrial automobile (CV) cycle,” he stated. Maheshwari believes this could possibly be a superb time to e-book earnings in a number of the auto shares. “Particularly on the CV, each Ashok Leyland and Tata Motors appear to be operating forward of the expectations. Two-wheelers appear to be leaving some scope for upward bias, Maruti appears to be forward of its numbers. So I feel this could possibly be a superb time to remove some earnings on the auto shares.” Extra right here

Anticipate Nifty to provide single-digit returns in 2021, says Bernstein’s Venugopal Garre

Venugopal Garre, Managing Director, Bernstein, expects Nifty to provide single-digit returns in 2021. “The best way I might put it’s first half of the yr we expect the market will overshoot the goal however the danger would most likely emerge in second half of the yr,” he stated in an interview with CNBC-TV18. Garre is ‘impartial’ on autos. He prefers passenger automobiles (PVs) over two-wheelers. “Industrial automobiles (CVs) have bottomed out when it comes to the place they might lie when it comes to absolute volumes. We do see a play when it comes to CVs when it comes to a restoration and this house can be going to be pushed by scrappage coverage. If this scrappage coverage is significant and if it comes via on this finances and whether it is carried out -that is primarily providing you with an concept that we may transfer into constructive cycle for CVs. I might not take a unfavourable view on CVs when it comes to a quantity alternative over the following two years,” he stated. Extra Right here

HCL Tech, Wipro can outperform TCS, Infosys; IT on cusp of rising demand: Envision Capital

Deal wins proven by large-caps point out a giant shift within the know-how house, stated Nilesh Shah, MD & CEO of Envision Capital, on Thursday. Chatting with CNBC-TV18, Shah stated, “The know-how house is on the cusp of a brand new wave of demand which is rising. Deal wins proven by large-caps signifies that there’s a large shift taking place within the know-how house, adoption is getting extra widespread particularly from the enterprises and that’s going to be driving important secular demand for know-how providers firms over the following few quarters and years.”

Speaking about stock-specific motion, Shah stated, “The demand is nice however these firms are but to get right into a double-digit demand and margins have been extraordinarily good due to some tailwinds that they’ve loved throughout the COVID period and currency-related tailwinds.” HCL Tech and Wipro’s valuations are comparatively cheap and may outperform each TCS and Infosys going ahead, Shah stated. Extra right here

Indigo Paints IPO opens on 20 January, to lift Rs 1,000 crore

 

The preliminary public providing (IPO) for Indigo Paints can be open for subscription on January 20, 2021 after it acquired a nod from market watchdog Securities and Change Board of India (SEBI) earlier in January. The Indigo Paints IPO will lastly shut on January 22. The Sequoia Capital-backed firm filed preliminary papers with SEBI for the IPO in November final yr. SEBI has authorized Indigo Paints’ plan to lift about Rs 1,000 crore via the general public subject from the capital markets. The IPO includes contemporary issuance of shares of Rs 300 crore and an offer-for-sale of as much as 58,40,000 fairness shares by Investor Promoting Shareholder Sequoia Capital via its SCI Investments IV and SCI Investments V and Promoter Promoting Shareholder, Hemant Jalan. The corporate had disclosed this data in draft pink herring prospectus (DRHP) filed with SEBI. Extra right here

Wipro shares fall 6% put up Q3 outcomes; brokerages combined

 

Shares of Wipro declined 6 p.c on Wednesday regardless of beating analyst expectations within the December quarter outcomes. The corporate posted a 21 p.c within the consolidated internet revenue to Rs 2,968 crore year-on-year (YoY) for the interval ending on December 31, 2020. It was Rs 2,456 crore within the year-ago interval. Brokerages, nevertheless, have been combined on the inventory put up the earnings. Whereas Credit score Suisse maintained a ‘impartial’ name, Edelweiss had a ‘purchase’ ranking and Jefferies an ‘underperform’ ranking. Nomura additionally has a ‘cut back’ ranking however raised its goal worth to Rs 410 per share. It expects progress underperformance versus friends to proceed and added that valuations for the inventory are costly. Nonetheless, it famous that broad-based progress and improved outlook throughout verticals are key positives.

SAIL OFS begins at present; authorities to divest as much as 10%

 

The Central authorities has determined to divest 5 p.c fairness in Metal Authority of India Restricted (SAIL) whereas preserving the greenshoe choice of 5 p.c. The supply on the market (OFS) will open on Thursday (January 14) for non-retail buyers and for retail buyers on January 15. The ground worth of the supply can be Rs 64 per fairness share, in keeping with a regulatory submitting. The federal government holds 75 p.c stake in SAIL. It had final offered 5 p.c stake within the metal CPSE in December 2014. The entire OFS dimension has been calculated at 20.6 crore shares of the face worth of Rs 10 every (base supply dimension), with an choice to moreover promote as much as 20.6 crore fairness shares. With this, the full OFS goes as much as 41.3 crore shares and the federal government is anticipated to mobilise Rs 2,664 crore.

Infosys shares decline 5% regardless of sturdy Q3 outcomes, bullish brokerage views

 

Shares of Infosys fell 5 p.c in early offers on Thursday even after the IT main reported higher than anticipated earnings for the December quarter. It posted a 16.6 p.c year-on-year (YoY) rise in consolidated internet revenue to Rs 5,197 crore in Q3 as in opposition to Rs 4,466 crore within the year-ago quarter. The inventory misplaced as a lot as 5 p.c to its day’s low of Rs 1,318 per share on BSE. Most brokerages have a ‘purchase’ name on the inventory put up the earnings and raised their goal worth. World brokerage home CLSA raised its goal to Rs 1,620 per share from Rs 1,480 earlier. In the meantime, Edelweiss elevated its goal worth to Rs 2,124 per share, Credit score Suisse to Rs 1,810 and Morgan Stanley to Rs 1,700.

Opening Bell: Sensex opens decrease, Nifty round 14,500; IT shares drag, Infosys down 4%

Indian indices opened within the pink on Thursday primarily dragged by IT shares regardless of higher than anticipated December quarter outcomes. Infosys, HCL Tech, TCS and Tech Mahindra contributed essentially the most to the losses. At 9:17 am, the Sensex was down 90 factors at 49,402 whereas the Nifty fell 34 factors to 14,530. Broader markets, nevertheless, outperformed benchmarks with the midcap and smallcap index up 0.3 p.c every. Amongst scetors, the Nifty IT fell 1.5 p.c whereas, financial institution, auto, FMCG sectors remained within the inexperienced. On the Nifty50 index, ONGC, IndusInd Financial institution, IOC, ITC and BPCL have been the highest gainers hwile Wipro, Infosys, HCL Tech, Tech Mahindra and Bajaj Finance led the losses.

Wipro Q3 outcome: Internet revenue rises to Rs 2,900 crore, income at Rs 15,670 crore

 

Wipro delivered a stellar efficiency within the third quarter and introduced an increase of 21 per cent within the consolidated internet revenue to Rs 2,968 crore year-on-year (YoY) for the interval ending on December 31, 2020. It was ₹2,456 crore within the year-ago interval. The tech big stated on Wednesday that consolidated income for a similar interval was Rs 15,670 crore. Wipro expects income from its IT Providers enterprise to be within the vary of $2,102-$2,143 million, which interprets to a sequential progress of 1.5% to three.5%. Thierry Delaporte, Chief Government Officer and Managing Director at Wipro, stated, “We witnessed unprecedented instances. With improved vaccine prospect, we’re crammed with optimism for 2021. Now we have gone reside with a brand new organisational construction as of January 1, 2021. Now we have had a second consecutive quarter of robust efficiency.” Extra right here

Infosys Q3 internet revenue up 16.6% at Rs 5,197 crore; beats estimates

India’s second-largest IT providers firm Infosys on Wednesday reported 16.6 p.c year-on-year (YoY) rise in consolidated internet revenue to Rs 5,197 crore for the December quarter. CNBC-TV18 ballot had predicted a revenue of Rs 5,084 crore for the quarter beneath overview. Within the corresponding quarter final yr, the corporate posted a internet revenue of Rs 4,466 crore. Its income grew 12.3 p.c to Rs 25,927 crore within the quarter beneath overview from Rs 23,092 crore within the corresponding interval final fiscal, it added. Infosys has elevated its FY21 income progress steerage to 4.5-5 p.c in fixed foreign money phrases. Extra right here

Asia shares make cautious features after Wall Road rises as U.S. yields fall

 


Asian equities made early buying and selling features on Thursday after a combined session Wall Road buoyed by expectations of a U.S. stimulus package deal at the same time as political occasions in Washington culminated within the impeachment of President Donald Trump. The benchmark S&P 500 had closed barely larger pushed by rate-sensitive defensive sectors resembling utilities and actual property, whereas economically delicate cyclical sectors lagged. Australian S&P/ASX 200 futures rose 0.21 p.c in early buying and selling, whereas Hong Kong’s Hold Seng index futures rose 0.23 p.c.

First up, right here is fast catchup of what occurred within the markets on Wednesday

 


Indian indices ended flat on Wednesday, snapping three periods of document shut, primarily dragged by financials and pharma sectors. The Sensex ended 25 factors decrease at 49,492 whereas the Nifty was up 1 level to settle at 14,565. In the meantime, the broader markets underperformed benchmarks with the midcap index down 0.7 p.c. Amongst sectors, Nifty Fin Providers and Nifty Pharma led the losses whereas the banking, auto, FMCG and IT indices have been within the inexperienced for the day. M&M was the highest gainer within the Sensex pack, rallying round 6 p.c, adopted by SBI, ITC, NTPC, Bharti Airtel and ONGC. However, Bajaj Finance, HDFC, Bajaj Finserv, Titan, Solar Pharma and Dr Reddy’s have been among the many laggards.

Welcome to CNBC-TV18’s Market Stay Weblog

 

Good morning, readers! I’m Pranati Deva from the market’s desk of CNBC-TV18. Welcome to our market weblog, the place we offer rolling reside information protection of the most recent occasions within the inventory market, enterprise and financial system. We can even get you immediate reactions and friends from our stellar lineup of TV friends and in-house editors, researchers, and reporters. In case you are an investor, right here is wishing you a fantastic buying and selling day. Good luck!

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