Monday, 29 January 2018

Market Live: Sensex gains 300 pts, Nifty nears 11,150; Newgen debuts with 5% premium

Avenue Supermarts, KPIT Technologies, Shriram City Union Finance, Kokuyo Camlin, Maithan Alloys, Bhageria Industries and Persistent Systems gained 2-4 percent post earnings.

INTRADAY STOCK TIPS10:15 am Rupee Trade: The rupee was trading higher by 3 paise at 63.51 against the US dollar in morning at the interbank foreign exchange market amid the greenback's gains in overseas markets.

The rupee opened lower by 5 paise at 63.60 today against the previous close of 63.55.

A record opening in the domestic equity market capped the fall, dealers said.

On Thursday, the rupee had gained 14 paise to end at a fresh one-week high of 63.55 a dollar.

10:01 am Listing: Newgen Software Technologies share price listed at Rs 256 on the National Stock Exchange, up 4.5 percent over issue price of Rs 245 per share today.

The stock price hit an intraday high of Rs 266.70 (up 8.85 percent) and low of Rs 254.10, which was the pre-opening rate. INTRADAY STOCK TIPS

9:59 am Market Update: Benchmark indices extended rally in morning as the Sensex gained 307.39 points or 0.85 percent at 36,357.83 and the Nifty rose 75.10 points or 0.68 percent to 11,144.80.

About 1,289 shares advanced against 827 declining shares on the BSE.

9:55 am Pre-Opening: Newgen Software Technologies share price settled at Rs 254.10, up 3.71 percent over issue price of Rs 245 per share in pre-opening trade.

9:45 am Order Win: Shares of KSB Pumps gained 5.6 percent in morning on bagging orders of Rs 413 crore.

" ....... received orders of around Rs 413 crore from Nuclear Power Corporation of India (NPCIL) for supply of primary coolant pumps and electric motor along with auxiliaries and accessories for their Gorakhpur Haryana Anu Vidyut Pariyojana – 1 & 2 project."

The sales / supply of products/ services for these orders will be in a phased manner during the years 2022 and 2023.

9:32 am Earnings Reaction: Avenue Supermarts shares gained 5 percent as Q3 net profit grew by 65.8 percent to Rs 251.8 crore and revenue rose 22.6 percent to Rs 4,094.8 crore compared to year-ago period.

Operating profit jumped 46.4 percent to Rs 421.8 crore and margin expanded to 10.3 percent from 8.63 percent YoY.

9:26 am Results Today: More than 70 companies will announce their December quarter earnings today, which include Emami , HDFC, Tech Mahindra, Apar Industries Limited, Astra Microwave Products, Astron Paper & Board Mill, Automobile Corporation Of Goa, Balaji Amines Limited, Balaji Amines, Balmer Lawrie, Binani Industries, Century Textiles, Elgi Equipments, Emkay Global Financial Services, Himadri Speciality Chemical Limited, INOX Leisure Limited, IDFC, Indian Metals & Ferro Alloys, Laurus Labs, Maharashtra Scooters, Mahindra Logistics, Novartis India, Orient Cement, Ramkrishna Forgings, Reliance Communications, SIS, Shakti Pumps, Siyaram Silk Mills, SPARC, Subex and Wockhardt.

9:21 am Listing: Newgen Software Technologies is set to make its debut on exchanges today after good response to the initial public offer. The company has fixed issue price at higher end of price band of Rs 245 per share.

The initial public offer (IPO) of the IT firm was oversubscribed 8.25 times during January 16-18, 2018.

The Rs 425-crore IPO had received bids for more than 10 crore shares against the total issue size of 1.22 crore shares, as per data available on the NSE website.

The IPO comprised of fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.

9:15 am Market Check: Benchmark indices staged smart performance in opening the first day of Budget week as the Sensex and Nifty hit fresh record highs, tracking positive trend in Asian peers and ahead of Union Budget 2018.

The 30-share BSE Sensex was up 223.04 points or 0.62 percent at 36,273.48 and the 50-share NSE Nifty gained 51.60 points or 0.47 percent at 11,121.30. About 1,017 shares advanced against 373 declining shares on the BSE.

Maruti Suzuki jumped 3 percent after earnings and revision in royalty payment.

ICICI Bank, Bharti Airtel, Dr Reddy's Labs, HPCL and BPCL fell 1-3 percent.

Nifty Midcap index gained 0.5 percent.

Avenue Supermarts, KPIT Technologies, Shriram City Union Finance, Kokuyo Camlin, Maithan Alloys, Bhageria Industries and Persistent Systems gained 2-4 percent post earnings.

SRG Housing Finance surged 6 percent and Can Fin Homes gained 2.5 percent.

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