MARKETS LIVE: Political developments, corporate results to steer indices

Catch all the market news here.

SI Reporter  |  New Delhi 

Bonds, Stock markets, Shares, Trading
Stock markets, Shares, Trading

Market at pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 36,476.82 +103.38 +0.28   S&P BSE SENSEX 50 11,530.84 +30.19 +0.26   S&P BSE SENSEX Next 50 31,339.54 +66.84 +0.21   S&P BSE 100 11,212.58 +28.59 +0.26   S&P BSE Bharat 22 Index 3,335.00 +5.69 +0.17 (Source: BSE) Equirus Securities on Avanti Feeds (AFL) While we expect 1HFY19 to be challenging for the industry, the recent stock correction (-43% in 2 months) seems overdone. AFL is trading at 17x/12x our FY19E/FY20E EPS — attractive given its market leadership, improved net cash balance and a core ROIC of >50%. We pare FY19/FY20 PAT estimates by 4%/1% while retaining LONG on the stock with a rolled over Sep’19 target price of Rs 800 (Jun’19 target price of Rs 820 earlier) set at a TTM PE multiple of 25x. INTERVIEW OF THE DAY HDFC will keep its stake above 50% in HDFC MF, says MD Milind Barve Just ahead of HDFC Mutual Fund's Rs 28-billion initial public offer (IPO), Milind Barve, managing director of the fund house, talks to Business Standard's Jash Kriplani. READ MORE HERE Milind Barve | Photo: Kamlesh Pednekar Results today Company name Purpose Meeting Date BAJAJ FINSERV LTD. Quarterly Results 19-Jul-18 Bajaj Finance Limited Quarterly Results 19-Jul-18 BHARAT IMMUNOLOGICALS & BIOLOGICALS CORPORATION LTD. Quarterly Results 19-Jul-18 ADITYA BIRLA MONEY LTD. Quarterly Results 19-Jul-18 KOTAK MAHINDRA BANK LTD. Quarterly Results 19-Jul-18 MENON BEARINGS LTD. Quarterly Results 19-Jul-18 RBL Bank Ltd Quarterly Results 19-Jul-18 SAGAR CEMENTS LTD. Quarterly Results 19-Jul-18 SHREE DIGVIJAY CEMENT CO.LTD. Quarterly Results 19-Jul-18 Today's picks: From Hindalco to HDFC, hot stocks to watch on Thursday Hindalco Current price: Rs 212.5 Target price: Rs 208   Keep a stop at Rs 215 and go short. Add to the position between Rs 209 and Rs 210. Book profits at Rs 208.   HDFC Current price: Rs 2,009 Target price: Rs 2,040   Keep a stop at Rs 1,990 and go long. Add to the position between Rs 2,030 and Rs 2,035. Book profits at Rs 2,040. READ MORE Kotak Securities on Blue Star The blue star stock has corrected since our previous recommendation ("Reduce" CMP Rs 756 and Target Rs 759). In view of this, we upgrade rating to "Accumulate" with revised target price of Rs 701 (Rs 759 earlier). Given modest upside from current levels, we recommend "Accumulate". In terms of valuation, the stock is trading at 40x and 28x FY19 and FY20 earnings, which is at a premium to sector leader – Voltas

The markets are likely to watch out for developments in the Parliament on Thursday after the opposition parties tabled a no-confidence motion against Prime Minister Narendra Modi’s government.

For the first time in 15 years, a no-confidence motion against the government was moved and accepted in Lok Sabha on Wednesday. Speaker Sumitra Mahajan said the notice, moved by the Congress, Telugu Desam Party and Sharad Pawar's Nationalist Congress Party, will be taken up on Friday.

Meanwhile, stock-specific action is likely to continue during the day amid the release of June quarter results of companies. Among key results, Bajaj Finserv, Bajaj Finance, RBL Bank and Sterlite Technologies are likely to announce their June 2018 quarter earnings later today.

That apart, investors will also watch out for movements in the global market and oil prices for further cues.

In the global markets, Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment, although trade war jitters pushed China’s offshore yuan to a fresh one-year low.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.53 per cent, while Japan’s Nikkei and the Australian benchmark advanced 0.42 per cent and 0.38 per cent, respectively.

On Wall Street, the Dow Jones Industrial Average rose 0.32 per cent and the S&P 500 gained 0.22 per cent to hit a more than five-month high, while the Nasdaq Composite declined marginally by 0.01 per cent.

(with Reuters inputs)
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First Published: Thu, July 19 2018. 08:20 IST

MARKETS LIVE: Political developments, corporate results to steer indices

Catch all the market news here.

Catch all the market news here. The markets are likely to watch out for developments in the Parliament on Thursday after the opposition parties tabled a no-confidence motion against Prime Minister Narendra Modi’s government.

For the first time in 15 years, a no-confidence motion against the government was moved and accepted in Lok Sabha on Wednesday. Speaker Sumitra Mahajan said the notice, moved by the Congress, Telugu Desam Party and Sharad Pawar's Nationalist Congress Party, will be taken up on Friday.

Meanwhile, stock-specific action is likely to continue during the day amid the release of June quarter results of companies. Among key results, Bajaj Finserv, Bajaj Finance, RBL Bank and Sterlite Technologies are likely to announce their June 2018 quarter earnings later today.

That apart, investors will also watch out for movements in the global market and oil prices for further cues.

In the global markets, Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment, although trade war jitters pushed China’s offshore yuan to a fresh one-year low.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.53 per cent, while Japan’s Nikkei and the Australian benchmark advanced 0.42 per cent and 0.38 per cent, respectively.

On Wall Street, the Dow Jones Industrial Average rose 0.32 per cent and the S&P 500 gained 0.22 per cent to hit a more than five-month high, while the Nasdaq Composite declined marginally by 0.01 per cent.

(with Reuters inputs)
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