Nifty Auto index up, BharatForg Tops

Key benchmarks continue to trade on a positive note this Monday  early afternoon with the Nifty adding 82 points and is trading at 10,854 mark, while the Sensex up by 285 points at 35,943.24 at around 2.30 pm.

Nifty auto is up 0.89 percent with gains from Bharat Forge, TCS Motors, Mother son Sumi, Ashok Leyland, Exide Industries,  Tata Motors and Mahindra & Mahindra.

Bank Nifty is also trading higher by 0.93 percent led by Federal Bank, Yes Bank, Axis Bank, SBI, PNB among others.

Nifty pharma is trading up by 1.21 percent led by Dr Reddy's Labs, Divis Labs, Sun Pharma, Cadila Healthcare, Cipla, Biocon rising upto 2.21 percent.

Nifty energy is up 1.45 percent led by Reliance infrastructure which jumped over 3.65 percent followed by Hindustan Petroleum Corp, Reliance, Tata Power grid and ONGC.

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Force Motors shares trade higher post June sales numbers

Shares of Force Motors Ltd continue to gain during the early afternoon hours of trade on Thursday, on the back of Company’s production & sales data for the month of June.

The Company sold a total of 2,669 vehicles in June 2018 as against 2,466 vehicles in June 2017, clocking growth of about 8% on Year-on-Year (YoY) basis. The Automaker’s sales for the first quarter of FY19 increased 5% on YoY to 6,772 vehicles.

At 2:25 pm on Thursday, share price of Force Motors was quoting at Rs. 2,487.00 per share, up Rs. 90.25 or 3.77% on BSE. The scrip opened at Rs. 2,434 and touched an intraday high of Rs. 2,510 per share on BSE. Meantime, BSE benchmark was trading up 3.34 points to 35,648.74 and the NSE Nifty50 was up 2.30 points to 10,772.20.

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Bajaj Finance Ltd Shares Hit Record High on Splendid Q4 Results

Top Finance lender, Bajaj Finance Limited reported a 61 pc rise in its net profit to Rs 721 crore for the Q4 ending March 2018 versus Rs 615 crore in the year-ago period.  The profit surpasses analyst estimates due to healthy loan growth and stable asset quality for the period.

Reacting to the profit growth, on the market closing hours, Bajaj Finance Limited’s share price settled 7.71% at Rs. 2067.95 on NSE.  In a regulatory filing to the Stock Exchange, the company said that its Q-4 net interest income was up by 40 pc at Rs 2,365 crore from Rs 1,686 crore in the previous year.

The gross NPAs stood at 1.48 pc, up from last quarter's 1.67 pc, while net NPAs stood 0.38 pc of the total assets.

Bajaj Finance Ltd in its press release said that it continues to provide for loan losses in excess of requirements set by the RBI.

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Stock Tips-Sensex, Nifty gain on positive global cues

The BSE Sensex loaded on Monday's gains by rising up 108 points to end at 33,174 as strong global cues amid reports of easing global trade war fears strengthened investors' sentiment.  

The NSE Nifty-50 gained 53.50 points, to close at 10,184.15. All sectoral indices, led by metals, banking, and PSU, oil & gas and healthcare stocks were in the positive terrain.

Trading mood remained positive throughout the day on strong global cues. Reports of trade negotiations between the U.S. and China, eased worries of a trade war and enhanced investors' risk appetite. Moreover, short-covering by speculators ahead of March Future and Option (F&O) expiry and fiscal deficit data to be unveiled on Wednesday added to the up-move.

State bank of India emerged on top in the Sensex pack rising 3.04% at Rs. 253.85, followed by Indusind Bank (+1.56%), Tata Steel (+1.30%), Asian Paints (+1.16%­), TCS (+1.02%) and Maruti (+0.92%)

Top Gainers and Losers on NSE Nifty-50: IOC (+4.43%), Indiabulls HF (+3.94%), Hindustan Petroleum (+3.57%), Hindalco (+3.49%) and SBI (+2.8%) were the top gainers on Nifty50.

On the flip side, Bharti Infratel (-2.02%), Bharti Airtel (-2%), Bajaj Auto (-1.55%), Tata Motors (-0.47%) and HDFC (-0.38%) were the top losers in today’s trade.

Among 1,556 stocks traded on Nifty pack, 1142 stocks advanced, 372 declined and 42 stocks remained unaffected. A total of 12 stocks clocked a fresh 52-week high in trade today, while 120 stocks touched a new 52-week low on the NSE.

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Index trend and Stocks movements in the afternoon deals

Sun Pharma: Sun Pharmaceutical Industries Ltd on Wednesday said that the company won an approval from the U.S. drug regulator for its specialty drug ILUMYA for plaque psoriasis.

Shares of Sun Pharma rose as much as 3.45% intraday high to Rs 521.9 in the morning hours, but post lunch hours of deal, the stock was trading 0.61% at Rs. 507.80

Zensar Technologies: Zensar Technologies Limited acquires U.S based insurance-technology company Cynosure for USD 33 million, to increase its foothold in the fast-growing property & casualty insurance space.

Shares of Zensar Technologies rose as much were trading 1.86% to Rs 927 at this point.

ITI Limited: The Cabinet approved a Deptt of Telecom proposal to allow its public sector unit ITI Limited to offer 18 crore fresh equity shares to public through a further public offer in the domestic market.

Shares of ITI Ltd were trading 2.66% at Rs. 119.80 in the afternoon hours.  In the morning hours, the stocks traded intraday higher upto 6.8%.

Dish TV: Dish TV India Limited said that the merger of Videocon D2H Limited into the company has been completed with effect from 22 March 2018. Shares of Dish TV India were trading up 1.74% to Rs. 67.10 at this point.

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