Market Opens: It is strong start for the Indices on Thursday with Nifty above 11,800 level.
At 09:19 hrs IST, the Sensex is up 106.15 points or 0.27% at 39381.79, and the Nifty up 25.80 points or 0.22% at 11813.00. About 529 shares have advanced, 384 shares declined, and 62 shares are unchanged
RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, are the major gainers in the indices, while losers are Jet Airways, Infosys, TCS and Hindalco.
Among the sectors, auto, energy and bank are trading higher, while selling seen in the metal, IT and infra.
Brokerages View: Source CNBC-TV18
PhillipCap on Mindtree
Maintain neutral, target raised to Rs 930 from Rs 900 per share
Strong revenue performance, driven by strong growth in hi-tech & BFSI
Nomura on Dr Reddy’s Laboratories
Buy rating, target at Rs 3,414 per share
In terms of new product launches, site's relevance is limited
Nomura on Wipro
Neutral rating, target at Rs 270 per share
Q4 results in-line in terms of revenue growth & margin, while growth guidance was weak at -1% to +1%
Citi on Wipro
Maintain sell call with a target of Rs 230 per share
Delivered an in-line quarter but guidance disappointed again
Investec on Wipro
Hold rating, target cut to Rs 265 from Rs 350 per share
Reported a weaker than expected Q4 and guidance for Q1 is weak at -1 to 1% QoQ
Morgan Stanley on Wipro
Underweight call, target raised to Rs 255 from Rs 225 per share
Q4 saw weaker it services revenue but better EBIT
Deutche Bank on Wipro
Hold rating, target at Rs 270 per share
Soft results & a weak start to FY20
Credit Suisse on Wipro
Maintain underperform, target at Rs 240 per share
Margin recovery story is now behind; focus shifts back to growth. Cut estimates by 1-2%
Morgan Stanley on JSPL
Overweight call, target at Rs 188 per share
Strong Q4 production implies annualised production of 6 mt in FY20
New capacity is ramping up in-line with our expectation
Citi on JSPL
Maintain buy call, target at Rs 254 per share
Once current capacities are fully utilised, long-term EBITDA potential looks significant
Morgan Stanley on Reliance Industries
Potential stake sale in refining/petchem biz highlights focus on de-risking biz
Potential sale adds to the list of possible USD 20-30 billion asset monetisation opportunities
HSBC on Reliance Industries
Maintain buy rating, target at Rs 1,500 per share
Reports suggest Saudi Aramco in talks to acquire minority stake in downstream businesses
Possible deal could partly de-risk company’s energy business in long-term
Apr 18, 09:06 AM (IST)
Rupee Opens: The Indian rupee opened higher by 14 paise at 69.46 per dollar on Thursday versus Tuesday close of 69.60.
Apr 18, 09:03 AM (IST)
Market at pre-open: Indian indices are trading higher in the pre-opening session.
At 09:03 hrs IST, the Sensex is up 133.08 points or 0.34% at 39408.72, and the Nifty up 87.40 points or 0.74% at 11874.60.
Rail Vikas Nigam, Reliance Industries, Wipro, are among major gainers in the pre-opening session, while Jet Airways slipped 10 percent.
US markets end lower: US stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.
SGX Nifty: Trends on SGX Nifty indicate a flat start for the broader indices in India, a gain of 3 points or 0.03 percent. Nifty futures were trading around 11,852-level on the Singaporean Exchange.
Asia trading mixed: Asian shares were subdued on Thursday after a negative performance on Wall Street, with caution ahead of business surveys in Europe and Japan, and the Good Friday and Easter holidays keeping investors on the sidelines.
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