Markets Live: Sensex recovers a bit, down 200 points; Nifty below 10,7…


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Jet Airways may raise Rs 4,500 crore via rights issue

Debt-laden Indian carrier Jet Airways may propose to raise Rs 4,500 crore ($629.95 million) via a rights issue priced at between 125-150 rupees per share, Business Television India reported.

Jet said on Thursday its board had approved a rescue deal which will make lenders its largest shareholders and fix a near Rs 8,500 crore ($1.2 billion) funding gap.

Top 5 NSE gainers

Price as on 15 Feb, 2019 01:35 PM, Click on company names for their live prices.

How to make a billion from stocks? Damani offers a formula

Dalal Street veteran Ramesh Damani says investors should have a target to double their money every three years if they want to create phenomenal wealth from the stock market.

“If one can achieve this goal, an investment of Rs 10 lakh can become Rs 100 crore in a 30-year career in stock market. The initial investment would surge 10 times, or 1,000 per cent,” he said in an address to a Wealth Creation Summit, whose video is now available on YouTube.

How to make a billion from stocks? Damani offers a formula

Goldman Sachs sees 50% probability of ratified Brexit deal

Goldman Sachs said it sees a 50 percent probability of Prime Minister Theresa May getting a Brexit divorce deal ratified, adding that lawmakers would ultimately block a no-deal exit if needed. Unless May can get a Brexit deal approved by the British parliament, then she will have to decide whether to delay Brexit or thrust the world’s fifth largest economy into chaos by leaving without a deal.

Goldman said it saw the probability of a no-deal exit at 15 percent and the probability of no Brexit at around 35 percent.

Arun Jaitley resumes charge as Finance Minister

Arun Jaitley resumes charge as Finance Minister

SBI, Union Bank, Canara Bank and OBC slip into oversold territory, suggests technical indicator RSI

SBI, Union Bank, Canara Bank and OBC slip into oversold territory, suggests technical indicator RSI

Dr Reddy’s Lab plunges over 29% to hit 17 year low

Shares of pharma major Dr Reddy’s Laboratories plunged as much as 29.78 per cent to Rs 1,872.95 in Friday’s morning trading session. The shares had last hit this level on October 15, 2001.

Jefferies says that the 11 observations found under Form 483 on company’s Bachupally manufacturing unit includes four repeat observations, including one repeated from 2015 and 2017. The observations are around lack of thorough investigations, written records lacking details, employees not being trained and lack of infrastructure.

Dr Reddy's Lab plunges over 29% to hit 17 year low

I am extremely positive on the market with a slightly longer term view. This pessimism is overdone. I still reiterate that in middle of April, you should be closer to 11600 and this time, midcaps will join in.

– Sanjiv Bhasin, IIFL

Sugar stocks surge after government hikes sugar MSP

Shares of most sugar producing companies were trading with gains in Friday’s session after the government on Thursday hiked the minimum selling price (MSP) of sugar by Rs 2 per kg to Rs 31 to help millers clear farmers’ dues. Sugar mills are expected to get a benefit of Rs 6,000 crore from this move.

Shares of Piccadily Sugar & Allied Industries (up 9.09 per cent), Rajshree Sugars & Chemicals (up 7.61 per cent), Uttam Sugar Mills (up 5.45 per cent), Dhampure Specialty Sugars (up 4.93 per cent) and Riga Sugar Company (up 4.91 per cent) surged up to 9 per cent.

Aditya Birla Fashion, Balrampur Chini among stocks that hit fresh 52-week highs

Aditya Birla Fashion, Balrampur Chini among stocks that hit fresh 52-week highs

Jet Airways shares rally 5% after board approves debt resolution plan

Shares of Jet Airways rallied over 5 per cent in morning trade on Friday after the board approved bank-led resolution plan (BLRP), entailing conversion of lenders’ debt into equity. The provisional restructuring plan (BLPRP) has been carried out by lenders, led by State Bank of India, under the Reserve Bank of India’s February 12, 2018 circular.

ONGC jumps 6% post strong Q3 earnings

Shares of ONGC jumped over 6 per cent on Friday morning after the company posted 64.77 per cent year-on-year rise in profit at Rs 8,262.70 crore for the quarter ended December 31. The scrip hovered at Rs 139 up 5.22 per cent at around 09:48 am while the benchmark BSE Sensex was down 0.23 per cent at 35,792.96. The oil major had posted a profit of Rs 5,014.67 crore in the corresponding quarter last year.

Is a crisis on the horizon for markets?

Nifty EPS trend

Nifty EPS trend

Take note!

Rupee opens 11 paise down at 71.27 against dollar

The rupee on Friday opened 11 paise down at 71.27 against the US dollar amid rising crude oil prices and foreign fund outflows. The local currency on Thursday declined by 36 paise to 71.16 per US dollar.

“Rupee came under pressure in yesterday’s session and is expected to trade around 71.30 in the wake of brent crude’s climb to near $65 a barrel, and losses in Asian currencies and equities,” Motilal Oswal Financial Services said in a report.

Check out the most active stocks on NSE

Price as on 15 Feb, 2019 09:37 AM, Click on company names for their live prices.

OPENING BELL: Sensex drops 50 pts, Nifty50 trades at 10,730; ONGC jumps 4%, Jet Airways slips 2%

OPENING BELL: Sensex drops 50 pts, Nifty50 trades at 10,730; ONGC jumps 4%, Jet Airways slips 2%

Singapore trading sets stage for a positive start

Nifty futures on the Singapore Exchange were trading 10 points, or 0.09 per cent, higher at 10,803, indicating a flat-to-positive start for the Nifty50.

Tech view: Charts negative, but a small bounce possible

The Nifty50 on Thursday extended its losing streak into the fifth session. The index formed a small bearish candle on the daily chart and continued its recent streak of forming lower highs and lows. Analysts said the index charts are looking oversold, and a small bounce looks imminent.

Asian shares drop in early trade

Asian stocks slipped on Friday after grim US retail sales figures raised fresh doubts about the strength of the US economy, offsetting optimism on trade talks between the United States and China. Japan’s Nikkei dropped 1.1 per cent while MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent in early trade, with South Korea’s Kospi shedding 1 per cent.

Retail data raises doubts over US’ economic strength

US retail sales tumbled 1.2 per cent in December, recording their biggest drop since September 2009 as receipts fell across the board, Reuters reported. The shockingly weak report led to economic growth estimates for the fourth-quarter being cut to below a 2.0 percent annualised rate, with the Atlanta Fed forecasting a 1.5 percent growth, much below its previous forecast of 2.7 percent about a week ago.

Oil prices jump on supply cuts

US oil prices rose on Friday, gaining for a fourth day on hopes of further supply cuts by major exporters, despite uncertainty about US-China trade talks, Reuters reported. US West Texas Intermediate (WTI) crude futures were at $54.79 per barrel, up 40 cents, or 0.7 per cent, from their last settlement. They rose 51 cents, or 0.95 per cent, on Thursday.

US stocks settled lower

On Thursday, the Dow Jones Industrial Average fell 104.28 points, or 0.41 per cent, to 25,438.99, the S&P500 lost 7.35 points, or 0.27 per cent, to 2,745.68 and the Nasdaq Composite added 6.58 points, or 0.09 per cent, to 7,426.96.

Banks get pilot’s seat in Jet

Jet Airways founderpromoter Naresh Goyal is set to lose control of his beleaguered airline after the board approved a proposal allowing a consortium of banks to become the largest shareholder. The stake of Goyal, who founded the airline in April 1992, could drop to as low as 20% from 51% now while Etihad Airways — along with a partner — may eventually become the biggest shareholder.

Bharat 22 ETF raised Rs 10,000 crore

Through the ETF, the government had proposed to raise Rs 3,500 crore with the option to retain additional amount as per instructions from the government. Backed by ICICI Mutual Fund, the ETF received bids for more than Rs 46,000 crore shares. The government may retain Rs 10,000 crore. The issue was opened for subscription on Thursday.

3.3 crore Adani Ports share released

Nearly 3.31 crore pledged shares of Adani Ports amounting to 1.60 per cent stake in the company have been released by the two lenders, according to a regulatory filings on the stock exchanges. These shares were pledged by the company’s promoters – Gautam Adani and Rajesh Adani on behalf of S B Adani Family Trust — and were encumbered in favour of IDBI Trusteeship Services and Axis Trustree Services.

Minority stake holders bid for Ricoh India

In a rare instance and probably the first of its kind in India, minority shareholders have bid for a company that has filed for bankruptcy under the National Company Law Tribunal (NCLT). The company in this case is Ricoh India, a subsidiary of Japan-based electronic devices manufacturer Ricoh. Kotak Investment Advisors, Karvy Data management services and Bengaluru-based WEP solutions are already in the race to acquire the company.

DIIs buy Rs 1,225 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 225 crore worth of domestic stocks on Thursday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 250 crore, data suggested.

Good Morning, dear reader! Here’s something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day


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