Finance Update

Mid-Day Market updates – TFM’s Watch

Mid-Day Market updates – 26th Feb 2019 – Noon Market Update, Buzzing Stocks following PreMarket Report

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Buzzing Stocks on Market Today

  1. Lakshmi Vilas Bank rebounds 3% after falling 1% on rating downgrade – 01:19pm
    – The rating downgrade factors in the continued weak performance of the bank since Q4/FY18 till Q3/9M FY19.
  2. DHFL sinks 8% after ICRA downgrades commercial paper programme – 01:17pm
    – ICRA said it revised the short-term rating outstanding for the Rs 8,000-crore commercial paper (CP) programme of DHFL to A2 from A1 . As on date, DHFL has CP outstanding of Rs 1,525 crore.
  3. Sharda Motor surges nearly 10% as board approves demerger of automobile seating biz – 12:25pm
    – Company has entered into the joint venture (JV) agreement with Eberspaecher Exhaust Technology International GmbH (EET) for business development of BS VI norms in commercial vehicle segment in India also.
  4. Coal India gains as Jefferies sees 44% upside on cheap valuations – 12:08pm
    – The stock price fell 26 percent in last 6 months on volume growth concerns. Hence, the valuation appears cheap at current levels, Jefferies said.
  5. Thermax gains 7% on entering agreement to acquire stake in JV company – 12:05pm
    – The share touched its 52-week high Rs.1,247 and 52-week low Rs.878.05 on 01 March, 2018 and 11 October, 2018, respectively.
  6. UPL hits 18-month high after Jefferies initiates coverage with buy – 11:40am
    – Jefferies is constructive on the scale benefits, product mix synergies from Arysta which acquired by the company for $4.2 billion in July 2018.
  7. Adani Ports falls 3% as Axis Capital downgrades stock – 11:37am
    – Axis Capital said the acquisition of Adani Agro Logistics at an enterprise value of Rs 1,662 crore is expensive, due to which the free cash flow generation has taken theackseat.
  8. Adani Ports falls 3% as Axis Capital downgrades stock – 11:37am
    – Axis Capital said the acquisition of Adani Agro Logistics at an enterprise value of Rs 1,662 crore is expensive, due to which the free cash flow generation has taken the backseat.
  9. Intellect Design Arena rises 2% on multi-million deal win from Emirates NBD – 11:09am
    – Emirates NBD has selected Intellect for end-to-end digital transformation of its transaction banking business.

ETMarket’s Noon Market update: BSE Power index down; CG Power falls over 2%  12:58am

Benchmark NSE Nifty50 index was down 30 points at 10,850.10 while the BSE Sensex was down 140.05 points at 36,073.33.

The S&P BSE Power index was down with its components trading lower in Tuesday’s afternoon session.

Shares of CG Power and Industrial Solutions (down 2.38 percent), Suzlon EnergyNSE -4.42 % (down 2.31 percent), NTPCNSE 0.11 % (down 1.99 percent)and Tata Power Company (down 1.58 percent) were trading in the red.

CESC (down 1.15 per cent), GMR Infrastructure (down 0.91 per cent), Siemens (down 0.75 per cent)and ABB India (down 0.68 percent) too were trading lower.

The S&P BSE Power index was trading 0.65 per cent down at 1807.83 around 12:51 pm.

Benchmark NSE Nifty50 index was down 30 points at 10,850.10 while the BSE Sensex was down 140.05 points at 36,073.33.

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.

Shares of Reliance Communications, Suzlon Energy, YES Bank, Adani Ports SEZ, Adani Power, Reliance Power, CG Power, JP Associates, DHFL, PNB, Dish TV India, GMR Infra, Tata Motors, Reliance Infra, Ashok Leyland and Vakrangee were among the most traded shares on the NSE.

Sharekhan Noon Market Update: Markets recover. Nifty above 10800 – 1:00pm

The benchmark indices recovered after from opening hour lows. The decline came after Indian Air Force attacked terror camps in Pakistan-occupied Kashmir. At 12.35 pm, Sensex was down by 0.51% or 185 points to 36028. The Nifty slipped by 0.38% or 40 points to 10840.

Majority of the sectoral indices were trading in red led by metal, auto, bank, pharma and energy.

Asian stock markets slipped, as investors seek clarity on US-China trade.

Sharekhan’s Pre-market: Indian indices seen sharply down on reports Indian fighter jets bomb terrorist targets in PoK – 9:00am

Indian stocks are expected to open sharply down on February 26, 2019 after reports showed Indian fighter jets crossed the Line of Control (LoC) to enter Pakistan-occupied-Kashmir (PoK) and bomb Jaish-e-Mohammed (JeM)? hideouts.

Nifty futures traded 0.81% down at 10,804 on Singapore’s SGX Exchange.

Global Markets

US stocks ended notably higher on February 25, 2019 as investors hope US and China to reach consensus on trade tariffs soon.

Optimism over trade talks between the US and China led to gains in Asian stocks on February 26, 2019.

Stocks to watch

Jet Airways: The company clarified reports of SBI mulling insolvency of the airliner are speculative. The airliner also said it is in talks with stakeholders to clear salary dues.

DHFL: ICRA ratings downgraded Rs 8000 crore worth of commercial papers to A2+ from A1+

Lupin: The pharmaceutical has received USFDA nod for Methyl-Prednisolone tablet

Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management, thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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