Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The Nifty has closed around its resistance area of 14,550-14,600. If we manage to get past that level, we should be headed to 14,800-14,900. The index has made a strong base at the 14,200 levels which acted as good support. Keeping a close below this level as a stop, traders can initiate long positions for higher targets.

Jan 19, 2021 3:44 PM

Market At Close

- Market Regains Yesterday’s Losses; Frontlines Indices Up 1-2%

- 46 Nifty Stocks Close Higher; HDFC Twins, ICICI RIL Top Contributors To Nifty

- Sensex Rises 834 Points To 49,398 & Nifty 240 Points To 14,521

- Nifty Bank Climbs 613 Points To 32,425 & Midcap Index 499 Points To 21,969

- Market Breadth Favours Advances; Advance-Decline Ratio At 3:1

- All Sectoral Indices Rise While Volatility Index Falls Over 6%

- Bajaj Finance & Bajaj Finserv Amongst Top Nifty Gainers Ahead Of Q3 Earnins

- Federal Bank Rises Over 5% Ahead Of Results; NII Seen Up 19% YoY

- CEAT Surges Over 5% & Indiabulls Real Over 11% After Strong Showing In Q3

- Mindtree Ends 1% Higher On Better-than-expected Q3 Results

Jan 19, 2021 3:37 PM

Closing Bell | Indian benchmark equity indices ended with strong gains on Tuesday led by across the board buying. The Sensex ended 834.02 points or 1.72 percent higher at 49,398.29, while the Nifty gained 239.85 points or 1.68 percent to close at 14,521.15. All sectors ended in the green with Nifty Realty surging more than 4 percent followed by Nifty Metal, Nifty PSU Bank and Nifty Financial Services. Broader indices, Nifty Midcap100 and Nifty Smallcap100 outperformed the benchmarks.On the Nifty50 index, Bajaj Finserv, Bajaj Finance, Tata Motors, Hindalco Industries and Sun Pharmaceuticals Industries were the top gainers while ITC, Tech Mahindra, Britannia and M&M were the only stocks in the red for the day.

Jan 19, 2021 3:36 PM

Indian Railway Finance Corporation IPO fully subscribed

The public offer of Indian Railway Finance Corporation has been subscribed 1.01 times on January 19, the second day of bidding, largely supported by retail investors so far. The IPO has received bids for 126.7 crore equity shares against offer size of over 124.75 crore equity shares (excluding anchor book portion), as per the subscription data available on the exchanges. The portion set aside for retail investors witnessed subscription of 1.95 times and that of employees 18.27 times, while the reserved portion of non-institutional investors was subscribed 17.4 percent and that of qualified institutional buyers 0.02 percent.

Jan 19, 2021 3:27 PM

Telecom and networking equipment PLI norms finalised for cabinet approval

The government has finalised the norms for Production Linked Incentive (PLI) scheme for the telecom and networking equipment for the cabinet’s approval, sources informed CNBC TV-18. The product…

Jan 19, 2021 3:17 PM

Confident of keeping margin over 20% going forward, says Mindtree

Mndtree on Monday reported a 65.7 per cent rise in consolidated net profit to Rs 326.5 crore for the December 2020 quarter.

CNBC-TV18’s Mugdha Variyar caught up with Debashis Chatterjee, MD and CEO of the company and asked him about the deal pipeline as well as the business growth.

“In terms of deals, the pipeline has been pretty strong and we have had a good orderbook this quarter. We have crossed the billion-dollar mark in terms of orderbook which is a significant achievement,” he said. Read more here.

Jan 19, 2021 2:58 PM

Jan 19, 2021 2:46 PM

Tata Metaliks Q3FY21 | The company's net profit rose 63.8 percent to Rs 75.2 crore from Rs 45.9 crore while revenue increased 1.5 percent to Rs 526.2 crore from Rs 518.6 crore, YoY. EBITDA surged 61.6 percent to Rs 126.5 crore as against Rs 78.3 crore and EBITDA margin stood at 24 percent as against 15.1 percent, YoY.

Jan 19, 2021 2:34 PM

Is it a beginning of a new league for dollar-rupee?

Forex reserves help to warrant the domestic financial situation against these sudden changes affecting the economy.Get latest Currency online at cnbctv18.com

Jan 19, 2021 2:25 PM

Market Watch: Shrikant Chouhan of Kotak Securities

We like Tata Steel which is currently trading at Rs 672-673. In the morning there was some block deal also. We should look for adding Tata Steel at current levels with stop loss at Rs 665 and we are expecting stock to move towards Rs 700 again.

We like L&T Finance which is currently trading at Rs 107. There we feel that it is heading for at least Rs 114-115. So it is a buy at current levels with a stop loss at Rs 104.

Jan 19, 2021 2:13 PM

Gateway Distriparks Q3FY21 | The company's net profit jumped 98.3 percent to Rs 32.7 crore from Rs 16.5 crore while revenue rose 5 percent to Rs 313.8 crore from Rs 298.2 crore, YoY. EBITDA increased 36.2 percent to Rs 82.5 crore as against Rs 60.6 crore and EBITDA margin expanded to 26.3 percent from 20.3 percent, YoY.

Jan 19, 2021 2:06 PM

Hatsun Agro Q3FY21 | The company reported net profit at Rs 67.3 crore as against Rs 27.9 crorel, YoY. Revenue rose 4.1 percent to Rs 1,394.6 crore as compared to Rs 1,340.2 crore, YoY. EBITDA jumped 55.3 percent to Rs 207 crore from Rs 133.3 crore while EBITDA margin stood at 14.8 percent versus 9.9 percent, YoY.

Jan 19, 2021 1:59 PM

CLSA sees 104% upside in Tata Motors in bull case scenario; stock jumps 40% in 2021

Shares of Tata Motors jumped nearly 5 percent on Tuesday after brokerage house CLSA maintained a positive stance on the stock and said that the firm is its top 2021 pick in the Indian auto industry. The stock rose as much as 4.7 percent to its day's high of Rs 257 per share on BSE. Just in 2021, the stock has surged around 40 percent.

It retained a 'buy' call with the target at Rs 290 per share.

Resultant bull case valuation (TP at Rs 500) implies a 104 percent upside from current levels (Current TP at Rs 290).

As per CLSA, expectations of a turnaround at JLR and India business could lead to a valuation re-rating. Read more here.

Jan 19, 2021 1:47 PM

Jan 19, 2021 1:39 PM

Maintain buy on UltraTech but prefer Ambuja Cements more: Edelweiss

"I will go with Ambuja Cements in largecap space,” said Navin R Sahadeo, Research Analyst of Edelweiss in an interview with CNBC-TV18.

“Valuation comfort and robust earnings growth – this combination makes Ambuja my clear top pick from results perspective, in general I am very bullish on this stock,” he said.

“I have a reduce recommendation on India Cements because fundamentally nothing is changing except for some buzz of merger and acquisition. Except for that, I don’t think there is much. It wouldn’t be a very compelling pick for me,” he said. Watch here.

Jan 19, 2021 1:32 PM

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