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Hindalco Industries on Monday reported 47 per cent YoY rise in consolidated profit at Rs 713 crore for December quarter.

The numbers included results for Utkal Alumina.

The company had reported Rs 484 crore profit in the same quarter last year.

Revenue for the quarter rose 8.09 per cent to Rs 11,938 crore from Rs 11,044 crore in the corresponding quarter last year.

I feel the future multibaggers are going to come from those companies who solve climate change, or precision medicine to cure cancer. Water purification and anything related to organic or anything where’s there scope of value added products, should do great too. Am also high on the API and the manufacturing theme. Keep hunting for them.

– Arun Mukherjee, Value Investor

Two fund houses see assets drop by half amid exit from risk

Two fund houses see assets drop by half amid exit from risk

Bharat-22 ETF additional sale on Feb 14

The government will launch an additional offering of Bharat-22 Exchange Traded Fund (ETF) on February 14 to raise at least Rs 3,500 crore, officials said Tuesday.

The ETF sale would be for a single day, in which both institutional and retail investors can participate, they said.

The proceeds from the ETF sale would help the government move towards meeting the Rs 80,000 crore disinvestment target set for the current fiscal.

Tata Steel hits over 1-month high

Shares of Tata Steel gained as much as 3.08 per cent to Rs 495.5, their highest since January 9.

The stock broke above resistance at Rs 490, the 23.6 per cent Fibonacci retracement level on the downtrend from September 21, 2018, high to January 29, 2019.

The stock has also broken above its 50-day exponential moving average which is seen as a bullish sign.

In a nervous market situation, you require some stories to fly and probably this is one story which is working well for the bear operators.

– Deven Choksy on pledge shares

227 stocks hit 52-week lows on NSE

Around 227 stocks fell to touch their 52-week lows on NSE in Tuesday’s morning session. Among the stocks that touched their 52-week lows were Aditya Birla Capital, Ahluwalia Contracts, Andhra Bank, BASF India, CARE Ratings, LT Foods, GATI and Finolex Cables.

Top 5 gainers on NSE

Price as on 12 Feb, 2019 12:17 PM, Click on company names for their live prices.

Market tip!

In case of the overall metal sector, Tata Steel will probably do well going forward because it is more integrated and now we have seen that the last 20 days has seen iron ore prices being hiked by more than 20%. For that reason, relative to others steel sector stocks, Tata Steel will do well.

– Abhimanyu Sofat, IIFL

Eveready shares cool off after surging 5%

Shares of Eveready Industries India surged 5 per cent in early trade on Tuesday on news of rivalry between Energize and Duracell for controlling stake in the company. However, the stock failed to hold altitude and pared most of its gains.

Axis Bank declines 1% as govt readies to sell stake

Shares of Axis Bank declined over 1 per cent in Tuesday’s session after reports that the government was set to divest its stake in the bank. The government is to launch an offer for sale on Tuesday to divest the 3 per cent Axis Bank stake it holds through the Specified Undertaking of Unit Trust of India (SUUTI), an ET report said.

Hotel Leelaventure surges 10% on Brookfield deal

Shares of Hotel Leelaventure surged 10 per cent in early trade on Tuesday, rising for the second session in a row, buoyed by news of a buyout by Brookfield. Brookfield Asset Management has finalised the terms and conditions to acquire Hotel Leelaventure with lender JM Financial for around Rs 4,500 crore, ET reported.

Global brokerages bullish on Eicher Motors post Q3

Most of the global brokerages retained their bullish view on Eicher Motors after it reported 2.39 per cent rise in consolidated profit after tax at Rs 532.95 crore in the third quarter ended December 31, 2018.

  • Macquarie maintained ‘Outperform’ with a target price of Rs 24,000.
  • Jefferies retained ‘Buy’ on Eicher with a target price of Rs 23,700.
  • Credit Suisse maintained ‘Neutral’ with a target price of Rs 21,800.
  • CLSA retained ‘Outperform’ with a revised target price of Rs 23,900.

Buy mid & smallcaps now: Morgan Stanley

Buy mid & smallcaps now: Morgan Stanley

ET Radio: Let’s talk business & markets

Check out the most active stocks on NSE

Price as on 12 Feb, 2019 09:30 AM, Click on company names for their live prices.

OPENING BELL: Sensex gains 30, Nifty above 10,900; Hotel Leela surges 8%, Jet Airways tanks 4%

OPENING BELL: Sensex gains 30, Nifty above 10,900; Hotel Leela surges 8%, Jet Airways tanks 4%

Pre-open session: Sensex rises 50 points, Nifty nears 10,900

Sensex rises 50 points, Nifty nears 10,900; rupee trades at 71.16 against the US dollar

Singapore trading sets stage for a tepid start

Nifty futures on the Singapore Exchange were trading 7.5 points, or 0.07 per cent, lower at 10,923.50, indicating a tepid start for the Nifty50.

Nifty faces resistance at 10,930

ifty50 on Monday settled below the 10,900 level, as the index formed a bearish candle on the daily chart, which was a follow through of Friday’s Evening Star formation. This has made a few analysts advise a sell on rise strategy for the coming session. For now, the 10,930-10,995 level will pose as stiff resistance. Traders may keep any eye on Nifty Bank for further signs of weakness in the index, analysts said.

Asian shares unchanged

Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings. MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 per cent after a market holiday on Monday.

US stocks settled lower

The Dow Jones Industrial Average fell 53.22 points, or 0.21 per cent, to 25,053.11, the S&P500 index gained 1.92 points, or 0.07 per cent, to 2,709.8 and the Nasdaq Composite index added 9.71 points, or 0.13 percent, to 7,307.91.

CIL, Sun Pharma and OIL to report Q3 results

Sun Pharmaceutical Industries, Oil India (OIL), Coal India (CIL), Bajaj Hindusthan, Omaxe, HEG, Indian Hotels, Bata India, India Cements, Religare Enterprises, Jain Irrigation, Lovable Lingerie, Manpasand Beverages, Lux Industries, Prabhat Diary, are among 313 companies set to announce their December quarter results on Tuesday.

Buffett Duracell in race to charge up Eveready

US-based Energizer Holdings is eyeing a controlling stake in BM Khaitan’s flagship Eveready Industries as the sale process gathers momentum. Energizer, which already owns the Eveready brand in the US and China, is likely to face competition from rival Duracell , owned by Warren Buffett’s Berkshire Hathawa.

Govt eyes to raise Rs 5,316 cr by selling 3% Axis Bank stake

The Centre is seeking to raise around ?5,316 crore by selling its 3% stake, owned through the Specified Undertaking of the Unit Trust of India (SUUTI), in private sector lender Axis Bank. The stake sale is aimed at helping North Block meet its budgeted disinvestment target.

PNB to sell stake housing arm stake to GA and Varde

General Atlantic Partners (GA) and Varde Partners have emerged the frontrunners to pick up a 22 per cent stake in PNB Housing Finance from Punjab National Bank for around Rs 3,500 crore in one of the most closely fought auctions for a mortgage firm, said three people aware of the development.

BofAML sole bidder for SBI’s Essar Steel debt

Bank of America Merrill Lynch emerged as the sole bidder in State Bank of India’s auction of its loans to bankrupt Essar Steel, but it bid for only a part of the Rs 13,000-crore loans the lender put on the block, two people familiar with the matter told ET.

Birla says Rs 25,000 cr to give Voda Idea funds for 3-4 years

Vodafone Idea will have enough capital after the completion of the forthcoming ?25,000-crore rights issue and will not need to raise equity for the next three or four years, chairman Kumar Mangalam Birla has said.

Sebi plans F&O circuit filters to curb volatility

The Securities and Exchange Board of India has proposed price bands for all futures & options (F&O) stocks, seeking to curb excessive price volatility in equity scrips that have derivative instruments available for trading. The capital-markets regulator said an examination of the price movements of F&O stocks in the past six months showed that 40 scrips witnessed intra-day movement of more than 20 per cent.

DIIs sell Rs 233 crore worth of equities

Foreign portfolio investors (FPIs) sold Rs 125 crore worth of domestic stocks on Monday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 233 crore, data suggested.

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