Mid-Day Market updates – 18th Feb 2019 – Noon Market, Buzzing Stocks and PreMarket
Buzzing Stocks on Market Today
- Titagarh Wagons surges 7% as co wins order worth Rs.1740cr – 12:40am
The total value of the LoA is Euro 216 million equivalent to Rs.1740.60 crore approximately.
- Varun Beverages rises 4% on plan to acquire franchise rights from PepsiCo – 12:19am
Board approved to convene meeting of the board of directors on February 26, 2019 to consider raising of capital through qualified institutions placement (QIP).
- Lumax Auto Technologies gains 6% as co receives LOI from OEM – 11:36am
The deliveries will commence from Q4 FY20, company said in release.
- Paramount Communications rises nearly 3% on orders win worth Rs.69.5cr – 11:13am
The share touched its 52-week high Rs 17.55 and 52-week low Rs.8.76 on 11 May, 2018 and 22 November, 2018, respectively.
- JSPL gains 3% on order win from Indian Railways – 11:00am
The additional order enhances the order size by over 30%, with the overall order size now estimated at around Rs.650 crore.
- IndusInd Bank gains after Deutsche Bank sees 29% upside in stock – 10:45am
Management acknowledged that ILFS was a one-off mistake, but exposure to any specific industry is capped at 5 percent, the brokerage said.
Tech Mahindra gains 3% ahead of board meeting to consider share buyback proposal – 10:25am
While maintaining overweight call on the stock with a price target at Rs.830, global brokerage house Morgan Stanley said the buyback could be its first ever and positive for sentiment.
- GSK Consumer Healthcare falls 2% after Credit Suisse downgrades, cuts price target – 10:20am
The brokerage also slashed its price target by 7.4% to Rs.8,330 from Rs.9,000 apiece earlier as healthy volume growth and margin tailwinds may be behind.
- Glenmark Pharma rises 4% on USFDA final approval – 9:30am
The share touched its 52-week high Rs.711.55 and 52-week low Rs.483.60 on 10 September, 2018 and 30 May, 2018, respectively.
ETMarket’s Noon Market update: Bank shares mixed; YES Bank down 2% – 12:00AM
Benchmark NSE Nifty50 index was down 68.15 points at 10,656.25 while the BSE Sensex was down 221.69 points at 35,587.26
Bank shares were trading on a mixed note in Monday’s morning session.
Shares of RBL Bank (up 1.39%), Federal Bank (up 1.06%), Bank of Baroda (up 0.79%) and State Bank of India (up 0.70%) were the top gainers in the index.
YES Bank (down 2.26%), IDFC First Bank (down 1.91%), ICICI Bank (down 0.39%) and Axis Bank (down 0.35%) were trading lower.
The Nifty Bank index was trading 0.09 per cent down at 26,769.45 around 11:52 am.
Benchmark NSE Nifty50 index was down 68.15 points at 10,656.25 while the BSE Sensex was down 221.69 points at 35,587.26.
Among the 50 stocks in the Nifty index, 12 were trading in the green, while 38 were in the red.
Noon Market Update: Markets remain in red. Sensex down 170 points – 1:00AM
Indian stock markets were trading lower led by IT, FMCG and automobile stocks. At 1.04 pm, Sensex slipped by 0.40% or 178 points to 35630. The Nifty dipped by 0.48% or 52 points to 10672.
The broader market indices too were trading in line with the benchmark peers
Asian stock markets were mostly in positive on February 18, with trade talks between the US and China set to continue in Washington this week after high-level meetings in Beijing concluded last week.
Pre-market: Indian stocks may open higher as sentiments improve on US-China trade talk hope – 09:00AM
Indian stocks are expected to open higher on February 18, 2019 as hopes of a deal between the US and China over trade boosted sentiments.
Nifty futures traded 0.23% down at 10,779 on Singapore’s SGX Exchange.
Asian stocks traded higher on optimism over US-China trade meeting in Washington.
US stocks ended higher as policymakers sounded hopeful of progress between the US and China on trade front.
Crude oil prices rose to three-month high on increase in supply cuts by Saudi Arabia.
Stocks to watch
Dr Reddy’s Laboratories: US regulators clear DRL’s Duvvada plant for exports
Yes Bank: RBI threatened action against the lender’s decision to disclose parts of Risk Assessment Report.
BPCL: Company’s arm executes sale purchase agreement with Mozambique LNG1 for 15-years.
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