IndiGo operator gains as Morgan Stanley sees raises target price

Shares of InterGlobe Aviation, the operator of low-cost carrier IndiGo, gained another one percent intraday on June 19 after global brokerage Morgan Stanley said it expects 28 percent potential upside from the current level.

"We maintain overweight call on the stock with a target price at Rs 2,132 after the company ordered CFM LEAP-1A engines worth $20 billion," the research firm said.

Order changes supplier for Neo engines from Pratt&Whitney to CFM and company may also gain from fleet mix changes as Neos come in, it added.

"We are positive on the stock due to market share gains and improving competitive landscape," Morgan Stanley said.

IndiGo, on June 17, ordered CFM International LEAP-1A engines to power its 280 Airbus A320neo and A321neo aircraft. The contract includes spare engines and an overhaul support agreement.

Global brokerage house Credit Suisse, on June 18, also maintained outperform call on the stock and raised the target price to Rs 1,900 from Rs 1,800 after upgrading earnings growth estimates to 16/18 percent for FY20/21.

The stock rallied 51 percent in the last six months on the back of gaining market share from Jet Airways and stable crude oil price. At 0920 hours IST, it was quoting at Rs 1,677.25, up Rs 14.05, or 0.84 percent on the BSE.

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Rupee opens higher at 69.56 per dollar

The Indian rupee opened higher by 14 paise at 69.56 per dollar on Wednesday versus Tuesday's close 69.70.

On June 18 the local currency rose 21 paise to end at 69.70 against the US currency on the lower crude oil prices and a weak dollar helped the Indian currency to snap the 3 days losing streak.

Rupee rose in the intraday session but broadly consolidated in a range as most market participants remained cautious ahead of the important FOMC policy statement that will be released later today. Expectation is that the Fed could take pause on rates but will provide cues for its stance for coming meetings. Fed governor commentary is expected to remain dovish and that could keep the greenback under pressure, said Motilal Oswal.

Today, USDINR pair is expected to open at 69.70(June) and quote in the range of 69.40 and 70.05-70.20, it added.

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जानकारों के पसंदीदा शेयर, मिलेंगे अच्छे रिटर्न

आइए जानते हैं बाजार के जानकारों के कुछ ऐसे पसंदीदा शेयर जो देंगे आपको बेहतर कमाई के मौके।

LFS ब्रोकिंग के राजेश सातपुते की ट्रेडिंग टिप्स

डीसीबी (फ्यूचर): बेचें, स्टॉपलॉस-233 रुपये, लक्ष्य-221 रुपये

हिंडाल्को (फ्यूचर): बेचें, स्टॉपलॉस-198 रुपये, लक्ष्य-190 से 186 रुपये

चॉइस ब्रोकिंग के सुमीत बगडिया की ट्रेडिंग टिप्स

डाबर: खरीदें, स्टॉपलॉस-390 रुपये, लक्ष्य-410 से 415 रुपये

भारती एयरटेल: बेचें, स्टॉपलॉस-351 रुपये, लक्ष्य-335 से 330 रुपये

पीईएल: खरीदें, स्टॉपलॉस-35 रुपये, लक्ष्य-70 से 80 रुपये

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Did you notice? SBI Life Insurance, Shree Cement entered $10 bn club in 2019

The market rewards consistency, quality of management and earnings growth. SBI Life Insurance and Shree Cements which rose 17 percent and 19 percent in 2019, so far, entered the $10 billion club (market cap over Rs 69,000 crore).

As of June 11, 2019, as many as 42 stocks have a market capitalisation of over Rs 69,000 crore or $10 billion (Re/USD value 69). These include Godrej Consumer, Britannia Industries, Avenue Supermarts, Sun Pharma, IndusInd Bank, Titan Company, NTPC, Asia Paints, Coal India, Maruti Suzuki, ICICI Bank, Kotak, SBI among others.

Meanwhile, Tata Consultancy Services and Reliance Industries are the only two stocks in the elite $100 billion club (Mcap over Rs 6,90,000 crore).

Shree Cements and SBI Life entered the $10 billion club in 2019, while JSW Steel and Vedanta which were quoting a market capitalisation of over Rs 69000 crore on December 31, 2018, failed to sustain momentum and are out of the club.

While JSW Steel fell 11 percent, Vedanta saw a decline of 15 percent so far this year, which reduced the market capitalisation of both companies below Rs 69,000 crore, as of June 11.

Most brokerage firms remain positive on Shree Cement and SBI Life Insurance and investors who hold these stocks should stay put.

Nomura maintained its Neutral rating on Shree Cements with a target price of Rs 21,500. Volume growth remains healthy for the cement major and, at the same time, the costs are also easing which is a healthy sign.

The rally has been driven by expectations of cement price hikes. “We believe cement is in an upcycle, but we think cement price increase may remain slow, especially after the government’s recent criticism of rising cement prices,” said the note.

“Despite a 5 percent decline since this criticism, valuations at 6.4x FY21F core EBITDA and 33x FY21 P/E are expensive. Overall, we expect 11 percent YoY volume growth for Shree in FY20-21F,” said the note.

As for SBI Life Insurance, Kotak Securities retained its buy rating with a target price of Rs 800. SBI Life reported 14 percent growth in APE in 4QFY19, which was in line with 9MFY19 growth rate, though lower than 17 percent reported in 3QFY19.

Kotak Securities expects SBI Life to deliver 18 percent medium-term operating RoEV with 19 percent VNB (Value of new business) and 19 percent EVOP (Embedded value operating profit) CAGR during FY2019-22E.

The brokerage firm continues to build in high-teens growth and a moderate improvement in VNB margins to drive 18 percent operating RoEV. The brokerage firm also raised the fair value of SBI Life Insurance to Rs 800 from Rs 790 earlier.

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Rupee opens higher at 69.83 per dollar

The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.

On June 17 local currency fell 11 paise to end at 69.91 against US dollar on the back of sell-off in domestic equity market amid concerns over trade worries.

Rupee came under pressure but consolidated in narrow range ahead of the important major central bank policy statements that will be released later this week. Most Asian currencies are consolidating ahead of the important FOMC policy statement and that could provide a trigger to major crosses as well as to the rupee, said Motilal Oswal.

Expectation is that the central bank could remain dovish and any hints towards rate cut by the Fed could put the greenback under pressure.

Today, USDINR pair is expected to quote in the range of 69.40 and 70.05-70.20, it added.

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Market Live: Nifty opens above 11,700, Sensex up 100 points; Mcleod Russel falls 4%

Market Opens: It is a firm opening for the benchmark indices on June 18 with Nifty around 11,700.

At 09:17 hrs IST, the Sensex is up 114.52 points at 39,075.31, while Nifty is up 33.80 points at 11706. About 403 shares have advanced, 226 shares declined, and 25 shares are unchanged. 

IndusInd Bank, Axis Bank, ITC, Maruti Suzuki, Tata Motors, Tata  Steel, Zee Entertainment are some of the major gainers on the indices, while losers are SBI, Yes Bank, Indiabulls Housing, HUL and ONGC. 

Among the sectors, except FMCG all other indices are trading in the green led by metal, pharma, infra, auto and bank.

Rupee Opens: The Indian rupee opened higher at 69.83 per dollar on Tuesday versus previous close 69.90.

Market at pre-open: Indian indices are trading firm in the pre-opening session on June 18.

At 09:02 hrs IST, the Sensex is up 180.85 points or 0.46% at 39141.64, and the Nifty up 29.10 points or 0.25% at 11701.30.

Brokerages View: Source: CNBC-TV18:

Citi on Bharti Airtel

Buy rating, target raised to Rs 405 from Rs 370 per share

Increase FY20-22 EBITDA estimate by 3-4%

Buy rating is based on its relatively healthier B/S than Vodafone Idea

Citi on Piramal Enterprises

Neutral call, target at Rs 2,640 per share

Proceeds from Shriram stake sale could be used to capitalise lending business 

Proceeds from Shriram stake sale may be used to support organic growth

Transaction does not remove possibility of merger of Shriram companies

Credit Suisse on IndiGo

Maintain outperform, target raised to Rs 1,900 from Rs 1,800 per share

Yield spike almost gone; positive on companies positioning, sector & modest competition

Citi on Realty Companies

Residential demand continues to see gradual recovery

New launches seems to bottom out

Prices remains steady in residential space

Commercial demand showing some weakness

Phoenix Mills & Oberoi Realty are our top picks given healthy balance sheet

Maintain sell on DLF given its expensive valuations

Morgan Stanley on HDFC AMC

Overweight call, target at Rs 2,000 per share

Co to provide liquidity arrangement to FMPs impacted by Essel exposure

CLSA on Coal India

Maintain buy rating, target at Rs 290 per share

Optimistic on volume growth and costs, yet no visibility on price hikes

CLSA on Oil & Gas

Unlike 2014, this crude correction may be a warning sign for refiner

Current crude correction similar to those seen in 1997, 2001 and 2008

OMC upmoves may soon be met with a wall of refining worry 

Have sell call on IOC, BPCL & HPCL; Buy on ONGC & Oil India

ONGC & Oil India offer much better risk-rewar

Wall Street ends higher: On Monday, the Dow Jones Industrial Average rose 22.92 points, or 0.09%, to 26,112.53, the S&P 500 gained 2.69 points, or 0.09%, to 2,889.67 and the Nasdaq Composite added 48.37 points, or 0.62%, to 7,845.02.

Asian markets trade mixed: Investor caution ahead of the Federal Reserve's interest rate meeting capped Asian stocks on Tuesday, while crude oil prices retreated as global growth worries overshadowed supply concerns stemming from recent Middle East tensions.

SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gains of 13.50 points or 0.12 percent. Nifty futures were trading around 11,711.50-level on the Singaporean Exchange.

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Jet Airways के शेयरों में 15% की गिरावट, जानिए क्या कहा है PMO ने?

Jet Airways के शेयरों में लगातार आठवें दिन गिरावट आई है। PMO कर्ज में डूबी एयरलाइन कंपनी की समीक्षा करवाना चाहता है। इस खबर के बाद सोमवार को मार्केट खुलने पर Jet Airways के शेयरों में 14.9 फीसदी की गिरावट आई। 9.35 पर Jet Airways के शेयर 14.9 फीसदी टूटकर 69.75 रुपए पर ट्रेड कर रहे थे।

सूत्रों के मुताबिक, PMO ने रेवेन्यू डिपार्टमेंट को बकाया टैक्स का आंकलन लेने को कहा है। साथ ही पीएम को प्रमुख सचिव नृपेंद्र मिश्रा ने कॉरपोरेट अफेयर्स मिनिस्ट्री से 14 जून को मुलाकात की और NCLT में इस केस पर नजर रखने का निर्देश दिया है।

जेट के शेयरों मे पिछले एक महीने में 42 फीसदी, 2019 में 74 फीसदी और पिछले एक साल में 81 फीसदी की गिरावट देखी गई है। BSE सेंसेक्स में आज सुबह जेट के शेयर 14.9 फीसदी की गिरावट के साथ कीमत 69.75 पर आ गई है। वहीं एनएसई में 28 जून से ट्रेडिंग बंद होने की वजह से पिछले हफ्ते 35 फीसदी की गिरावट दर्ज हुई। नकदी की किल्लत से जेट का ऑपरेशन अप्रैल से बंद है। लेंडर्स जेट के रिवाइवल पर काम कर रहे हैं।

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Rebound in Nickel prices to continue on supply disruption

Precious metal prices remained supported on the continued uncertainty over growth prospects and geopolitical tensions.

Gold prices rose 1.3 percent last week to $1359 per oz and Silver prices increased by 0.33 percent to $15.05 per oz.

Base metal complex continued to trade indecisive due to the pessimism around global growth and trade tensions, while some metals remained supported due to supply disruptions. Among the base metals complex, only Aluminum traded weak with 0.85 percent losses while all other metals closed 2 percent higher.

The energy complex closed the week with losses on account of a deepening trade war and higher inventories. Crude oil prices rallied on suspected attack on oil tankers but the uncertain demand outlook erased the gains while Nymex natural gas prices traded near lows due to record high production and no cooling demand in sight.

Nickel is the best performing base metal this year as at the London Metal Exchange it has risen by 10 percent this year.

Last week, Nickel prices witnessed some buying on concerns over supply disruptions in Indonesia -- the world’s largest nickel exporter and producer.

The floods in Indonesia will disrupt the exports of Nickel ore and Nickel pig production as a large number of mines have been affected which provided a short term boost to the nickel prices. US and Chinese Nickel premium showed an upside on concerns over limited supply.

According to INSG, the global Nickel market will be balanced showing a deficit of 50,000 tonnes-1,20,000 tonnes this year.

Outlook:

A short term bullish scenario may occur in Nickel prices on the account of supply disruption in Indonesia as it raises concerns over delayed shipment of Nickel ore and low Shanghai inventory.

This bullish outlook is for short term only as the rally will fade going forward on ample Chinese NPI supply and weak demand from stainless steel sector.

The upcoming important events like FOMC meeting, G-20 and the OPEC policy will provide further clarity.

We expect MCX Nickel prices to test Rs 960-Rs 1,000 per kg in the near term. Currently the MCX Nickel prices are trading at Rs 875 per kg.

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'Upside for Nifty capped at 12,000; deploy Call Butterfly Spread'

Nifty and Bank Nifty witnessed volatile swings on either side throughout last week. Nifty spot touched an intraday high of 12,000 and ended the week in red down 0.4 percent. Bank Nifty followed Nifty and was down about 1.45 percent on a week on week basis.

Bank Nifty weekly options data depicts the highest Put base at 30,000 that can act as possible support and highest Call OI is placed at 31,000, which can be immediate resistance.

Nifty Options data for the weekly expiry shows highest Put OI is placed at 11,800, which can act as vital support while on the upside, aggressive call writing of around ~21.89 lakh shares is seen at 11,900/12,000 which can act as immediate resistance.

Over the week, India VIX was down 120 basis point to end at 13.66 indicating low volatility in the market. Meanwhile, Nifty PCR open interest (OI) increased 6 basis point to 1.4682 suggesting positive sentiment in the market.

On a week-on-week basis, OI activity was not too emphatic to signify any alteration to original long-long Unwinding Structure, with heavy PE OI at 11,800 that could act as possible support.

The upside remains capped by aggressive call writing of around ~21.89 lakh at 11,900-12,000.

Moderately bullish strategy Call Butterfly Spread is suggested for this week. Call Butterfly Spread is bullish to rangebound strategy that offers decent risk-to-reward ratio for traders at a low cost.

In this strategy, we need to buy 1 ATM Call, Sell 2 OTM Calls near target level and Buy 1 further OTM call to hedge the risk.

The maximum profit in this strategy is at Call written strike. As theta decay is fast in weekly options, it is idle for deploying Call Butterfly Spread.

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Rupee opens flat at 69.80 per dollar

The Indian rupee opened flat at 69.80 per dollar on Monday versus Friday's close 69.80.

On June 14 the domestic currency slipped 30 paise to end at 69.80 against US dollar on strengthening greenback and increasing crude oil prices kept the investors cautious.

Also read - Rupee may remain under pressure amid widening trade deficit, attack on crude tankers

Rupee continued to consolidate in narrow range for the whole week but today in the Asian session came under pressure following broad based strength in the dollar. This week, on the domestic front, no major economic numbers are expected to release and that could keep the volatility low for the currency. Today, USD-INR pair is expected to quote in the range of 69.40 and 70.05-70.20, said Motilal Oswal.

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Market Live: Nifty around 11,750, Sensex falls 200 pts; Shriram Transport tanks 6%

Buzzing: ITC shares fell after global brokerage house CLSA slashed price target on lower cigarette multiple.

Gold Update: Gold prices on Monday edged away from a 14-month peak hit in the previous session, with the dollar gaining after encouraging US retail sales data tempered fears about a sharp downturn in the world's largest economy.

Market Update: Benchmark indices extends the losses with Nifty around 11,750 level.

At 10:01 hrs IST, the Sensex is down 189.48 points at 39,262.59, while Nifty is down 63.10 points at 11,760.20. About 515 shares have advanced, 1075 shares declined, and 99 shares are unchanged.

Buzzing: Shares of Shriram Transport Finance Corporation fell 6.5 percent on June 17 after about 10 percent equity changed hands via block deals in early trade on the NSE.

Dollar Update: The dollar hovered near a two-week high early on Monday, as strong US retail sales data tempered some of the fears about a sharp downturn in the world’s largest economy.

Crude Update: Oil prices rose on Monday after US Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.

Market Opens: It is a weak start for the benchmark indices on June 17 with Nifty around 11,800 level.

At 09:17 hrs IST, the Sensex is down 47.78 points or 0.12% at 39404.29, and the Nifty down 22.90 points or 0.19% at 11800.40. About 298 shares have advanced, 490 shares declined, and 61 shares are unchanged. 

Cadila Healthcare, Aurobindo Pharma, Asian Paints, L&T, Titan Company, ICICI Bank, M&M are some of the major gainers on the indices in the early trade, while losers are Shriram Transport, JSW Steel, Tata Steel, Axis Bank and IndusInd Bank. 

Among the sectors, except infra, all other sectoral indices are trading lower.

Rupee Opens: The Indian rupee opened flat at 69.80 per dollar on Monday versus Friday's close 69.80.

  

Market at pre-open: Benchmark indices are trading firm in the pre-opening session on June 17.

At 09:02 hrs IST, the Sensex is up 53.67 points or 0.14% at 39505.74, and the Nifty up 58.60 points or 0.50% at 11881.90

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छोटे कर्मचारियों को अब ज्यादा मिलेगी सैलरी!

15 हजार के कम कमाने वाले नौकरी-पेशा लोगों को सरकार ने बड़ी राहत दी है। सरकार ने कर्मचारी राज्य बीमा निगम यानी ESIC के तहत योगदान में कटौती कर दी है। इस फैसले से कर्मचारियों के हाथ में ज्यादा सैलरी आएगी और करीब तीन करोड़ 60 लाख कर्मचारियों को इसका फायदा होगा। ESI में कटौती के बाद अब कर्मचारियों का योगदान सिर्फ 0.75 फीसदी रह गया है जबकि नियोक्ता का योगदान 4 फीसदी रह गया है जो पहले 6.5 फीसदी था। फैसले से इंडस्ट्री को सालान करीब 500 करोड़ की बचत भी होगी। नया नियम 1 जुलाई से लागू होगा।

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जेट के शेयरों में 23% की गिरावट, 28 जून से NSE सस्पेंड करेगा ट्रेडिंग

Jet Airways। जेट एयरवेज की रिकवरी की उम्मीद जैसे-जैसे खत्म हो रही है इसके शेयरों में गिरावट बढ़ती जा रही है। गुरुवार को बाजार खुलने के बाद  Jet Airways के शेयरों में 23 फीसदी की गिरावट आई है। कंपनी के शेयर अब 86.55 रुपए पर ट्रेड कर रहे हैं.

NSE ने बताया कि Jet Airways की ट्रेडिंग 28 जून से बंद हो जाएगी। माना जा रहा है कि Jet Airways के बारे में फैली अफवाहों की वजह से Jet Airways के शेयरों में गिरावट आई है।

सुबह 9:30 बजे BSE सेंसेक्स में जेट के शेयरों में 12.7 फीसदी की गिरावट के साथ 95.90 रुपये पर इसका भाव आ गया। वहीं इसके मुकाबले निफ्टी 50 में 22.35 अंकों की गिरावट के साथ 11,883.85 पर था। पिछले हफ्ते स्टॉक में 21 फीसदी गिरा है। जबकि इस साल 64 फीसदी की गिरावट देखी गई।

स्टॉक एक्सचेंज का कहना है कि जेट के शेयरों को ट्रेड फॉर टेंड सेगमेंट में 28 जून से मूव कर दिया जाएगा। इसके तहत आप डिलिवरी ले सकते हैं। लेकिल सेल या बॉय नहीं कर सकते है। कुल मिलकार इंट्रा डे ट्रेड नहीं कर सकते हैं। उधर एनएसई का कहना है कि जेट एयरवेज ने अभी तक अपने नतीजे नहीं दिए हैं।

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बाजार में इंफोसिस के 26 साल पूरे, लिस्टिंग के बाद इंफोसिस का सफरनामा

देश की दिग्गज आईटी  कंपनी इंफोसिस को बाजार में आज 26 साल पूरे हो गए हैं। इस 26 सालों में कंपनी ने अपने निवेशकों को ऐसे रिटर्न दिए हैं जिसके बारे में आप सिर्फ सपने में ही सोच सकते हैं। इंफोसिस ने ना सिर्फ निवेशकों को ही मालामाल किया है बल्कि इस कंपनी ने देश की दिशा को भी बदला है। इंफोसिस के 26 साल पूरे होने पर सीएनबीसी-आवाज़ के साथ हैं कंपनी के पूर्व CFO और मणिपाल ग्लोबल के चेयरमैन मोहनदास पई।

एक कंपनी जिसने देश में आईटी क्रांति को जन्म दिया, जिसनें युवाओं को नए सपने दिखाए और उन्हें पूरा करने का हौसला दिया, ऐसी कंपनी जिसने निवेशकों को मालामाल कर दिया, आज उस कंपनी की लिस्टिंग के 26 साल पूरे हो गए हैं। हम बात कर रहे हैं दिग्गज आईटी कंपनी इंफोसिस की। पिछले 26 साल में कंपनी का सफर कैसा रहा है आइए जानते हैं।

14 जून 1993 को इंफोसिस लिस्टिंग हुई। इसकी लिस्टिंग 52 फीसदी प्रीमियम पर हुई थी। शेयर का इश्यू प्राइस था 95 रुपये और इसकी लिस्टिंग हुई थी 145 रुपये पर। इंफोसिस का आईपीओ बड़ी दिक्कतों के बाद भरा था। वल्लभ भंशाली की कंपनी इस आईपीओ की मर्चेंट बैंकर थी। कंपनी का एडीआर मार्च 1999 में आया। लिस्टिंग से अब तक कंपनी ने 11 बार बोनस दिया है। 1993 के 100 शेयर आज 34000 शेयर हो गए हैं। कंपनी में 1993 में किया गया 9500 रुपये का निवेश 2.55 करोड़ रुपये हो गया है। कंपनी का मार्केट कैप 3.28 लाख करोड़ रुपये है। 1993 से कंपनी की CAGR ग्रोथ (वार्षिक विकास दर) 36 फीसदी रही है।

मोहनदास पई ने कहा कि इंफोसिस की लिस्टिंग एक बड़ा इवेंट था। किसी को नहीं पता था Infosys बड़ी कंपनी बनेगी। ज्यादातर लोगों को Infosys की जानकारी नहीं थी। इंफोसिस ने सॉफ्टवेयर में निवेश पर निवेशकों का भरोसा बढ़ाया है। कंपनी का निवेशकों के साथ पारदर्शी संबंध रहा है। निवेशकों से हर जानकारी साझा की जाती थी। निवेशकों के हित की रक्षा हमारी प्राथमिकता थी। गाइडेंस पूरा करना Infosys का लक्ष्य रहा है। कंपनी ने शुरुआती 5 साल में लगातार गाइडेंस पूरा किया। मुनाफे के बंटवारे में हर वर्ग का ध्यान रखा। कंपनी ने बेहतर प्रदर्शन को बढ़ावा दिया। कंपनी की लीडरशिप एक उदाहरण रही है।

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RITES rallies 6% on mulling bonus issue

Shares of state-owned engineering consultancy company RITES rallied more than 6 percent intraday on June 14 ahead of board meeting to consider bonus issue.

The stock climbed 20 percent in last one month. It was quoting at Rs 294, up Rs 17.10, or 6.18 percent on the BSE at 0915 hours.

The railway consultancy firm said a meeting of board of directors of the company is scheduled to be held on June 24 to consider the proposal for issuance of bonus shares.

The Miniratna (Category – I) Schedule 'A' public sector enterprise is a leading player in the transport consultancy and engineering sector in India and the only company having diversified services and geographical reach in this field under one roof.

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Market Live: Nifty opens below 11,900, Sensex flat; Jet Airways falls 12%

Crude Update: Oil fell on Friday after sharp gains in the previous session when prices were boosted after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude flows through one of the world's key shipping routes.

Market opens: It is a flat to negative start for the benchmark indices on the last trading session of the week.

The Sensex is down 22.28 points at 39,719.08, while Nifty is down 16.60 points at 11,897.40. About 315 shares have advanced, 440 shares declined, and 41 shares are unchanged. 

In the early trade, Yes Bank, Hexaware, Bajaj Finance, Indiabulls Housing, Gail, Power Grid, HDFC Bank, HDFC, ICICI Bank, are among major gainers on the indices, while losers include RIL, IOC, BPCL, Dr Reddy's Lab, Gruh Finance, ITC, Bharti Airtel, Tata Steel, SBI and Zee Entertainment.

All the sectoral indices trading lower led by energy, FMCG, pharma, metal and auto.

JUST IN | RITES board to consider the proposal for issuance of bonus shares on June 24.

Rupee Opens: The Indian rupee opened flat at 69.51 per dollar on Friday versus previous close 69.51.

Market at pre-open: Benchmark indices are trading flat to positive in the pre-opening session on June 14.

At 09:04 hrs IST, the Sensex is up 57.79 points or 0.15% at 39799.15, and the Nifty up 5.50 points or 0.05% at 11919.50

Brokerages view: Source: CNBC-TV18:

CLSA on pharma

Multiples point towards a bleak future, but things are not that bad

Certain Indian cos have strong earnings cushion from India/EM Biz

For Cipla & Torrent implied PE multiple is at 45x & 68x respectively

CLSA on financials

Banks exit FY19 with lesser baggage

Net NPL ratio at 4-year low & coverage at +10-yr high

Visibility on turnaround seen in earnings from FY20

Resolution of defaults by DHFL is key

CLSA on metals

Have sell call on Tata Steel & JSW Steel 

ArcelorMittal sanguine on China but Europe a concern

ArcelorMittal focusing on profitability over volumes

Arcelor keen to acquire Essar Steel 

Entry of Arcelor in India is likely to intensify competition

Credit Suisse on HDFC

Maintain outperform call on the stock

Co has been largely unaffected by the recent NBFC-related debt market pressures

Morgan Stanley on HCL Tech

Underweight call, target at Rs 1,000 per share

Management cited healthy growth in manufacturing as new deals ramp up

Morgan Stanley on TCS

Equal-weight call, target at Rs 1,980 per share

Deal pipeline is robust and order book is better compared to past few quarters

Morgan Stanley on Infosys

Equal-weight call, target at Rs 700 per share

Not seeing any delays or hold back on spending despite global uncertainties

Morgan Stanley on Jubilant Food

Overweight call, target at Rs 1,525 per share

Company optimistic on long-term growth potential for quick service industries

Morgan Stanley on Axis Bank

Overweight call, target at Rs 1,100 per share

Expect domestic growth to remain strong at 15-18%

Morgan Stanley on HDFC Life

Equal-weight call, target at Rs 380 per share

Co expects to sustain premium growth above industry

Morgan Stanley on Kotak Mahindra Bank

Overweight call, target at Rs 1,600 per share

Co reiterated 20%+ loan growth target for FY20

Morgan Stanley on Voltas

Overweight call, target at Rs 705 per share

Setting up manufacturing facility in southern India where it has lower presence

Company plans increasing its sourcing from the domestic market 

Morgan Stanley on ICICI Bank

Overweight call, target at Rs 625 per share

Bank sounded confident of its asset quality position

Morgan Stanley on L&T

Overweight call, target at Rs 1,786 per share

Enough head room to grow & faces very minimal client overlap

Co believes there will be revenue & cost synergies from Mindtree

HSBC on Infosys

Retain hold rating, target at Rs 760 per share

Not seen demand slowdown from US macro concerns or trade tensions

Wall Street ends higher: US stocks rose on Thursday after two days of declines, as energy shares rebounded with oil on concerns of a supply disruption following attacks on two tankers in the Gulf of Oman.

Asian markets trade mixed: Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices as attacks on tankers in the Gulf of Oman stoked U.S.-Iran tensions and raised concerns over supply flows through one of the world's main sea lanes.

SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 24 points or 0.20 percent. Nifty futures were trading around 11,896-level on the Singaporean Exchange.

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Closing Bell: Sensex ends marginally lower, Nifty holds 11,900; Indiabulls Housing gains 11%

Market Close: Benchmark indices ended mixed but off day's low in the volatile session on June 13 with Nifty holds above 11,900 level.

At close, the Sensex was down 15.45 points at 39,741.36, while Nifty was up 7.80 points at 11,914.00. About 916 shares have advanced, 1590 shares declined, and 155 shares are unchanged. 

Indiabulls Housing, Zee Entertainment, BPCL, Grasim Industries and Power Grid were among major gainers on the Nifty, while losers were Yes Bank, IndusInd Bank, Infosys, IOC and UPL.

Among the sectors, selling was seen in the IT, metal, pharma, PSU bank and auto.

  

Rupee at day's low: The Indian rupee is trading at day's low level, as it is down 16 paise at 69.50 per dollar against previous close 69.34.

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Yes, IndusInd Bank plummet 6-9% after UBS cuts price target sharply

Yes Bank shares plunged 9 percent and IndusInd Bank tanked 6 percent intraday on June 13 after global brokerage house UBS slashed price target sharply by 47 percent and 18 percent, respectively, citing weak earnings going ahead.

UBS downgraded IndusInd Bank to sell and cut target to Rs 1,400 from Rs 1,700 earlier while in case of Yes Bank, the brokerage maintained sell rating and slashed target to Rs 90 from Rs 170 apiece.

"We raise FY20 credit cost estimates for Yes Bank to 250 bps from 200 bps and for IndusInd Bank to 150 bps from 100 bps as network risks drive credit cost estimates higher," the brokerage said.

According to the research firm, the next level of risk could appear from leveraged corporates' related companies.

Hence, UBS lowered its earnings estimates for Yes Bank/IndusInd Bank by 79 percent/53 percent & 7.3 percent/8.6 percent for FY20/21.

"Lending to non-investment grade companies against main companies is high for both banks, which does not appear to be fully priced in," UBS said.

It also added that the concentration of lending to weak companies is also high for Yes Bank, ICICI Bank and PNB. These stocks lost 20 percent and 9 percent in the last five trading sessions, respectively.

At 0957 hours IST, IndusInd Bank was down 5.33 percent at Rs 1,484.20 and Yes Bank down 9.17 percent at Rs 122.30 on the BSE.

Another reason for fall in Yes and IndusInd Bank is their exposure to Dewan Housing Finance Corporation, which defaulted on interest repayment last week.

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Jet Airways nosedives 14% after bourses mull trading restrictions

Shares of Jet Airways plunged more than 14 percent intraday on June 13 after stock exchanges decided to impose trading restrictions on the beleaguered airline.

According to a circular issued by NSE, the decision was taken as a part of preventive surveillance measures to curb excessive volatility.

The decision has been taken jointly by the exchanges and would be effective from 28 June, it said.

The stock exchange notified that the shares of the airline will be shifted from "Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100 percent upfront margin and 5 percent price band".

Jet Airways suspended all its operations in April. The lenders are now working on ways to revive the cash-starved carrier.

At 0947 hrs, Jet Airways was quoting Rs 94.80, down 14.13 percent on the BSE.

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