FAST MONEY: Bharti Airtel, Tata Motors among top 10 intraday trading tips
the Sensex ended at 35,103, down 73.28 points on Thursday, while the broader Nifty50 closed at 10,679, down 38.40 points. In the broader market, the BSE Midcap slipped over 1 per cent, while the BSE Smallcap dipped 0.8 per cent.
Sensex today: The benchmark indices are expected to open lower tracking negative trend in Asian markets, which stepped back as financial markets turned their attention to the looming U.S. payrolls data for fresh catalysts. Back home, investors will keep an eye on GST Council meeting later today. The Council may simplify the process for return filing, and is expected to levy 5 per cent cess on sugar.
Overseas, investors were cautious after a largely weak performance on Wall Street overnight as some disappointing earnings reports offset strong economic data, while bond yields slid after a surprising slowdown in euro zone inflation.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.26 percent, while the dollar dropped 0.2 percent against the yen to 108.98.
Indonesian stocks led the declines, falling as much as 1.5 per cent in early trading before recouping some of those losses. Australian shares fell after a Reserve Bank of Australia statement that signaled the central bank sees faster economic growth this year and next but doubts inflation will reach the mid-point of its target band until 2020. Japan's Nikkei stock index slid 0.16 per cent.
On Thursday, the Sensex ended at 35,103, down 73.28 points, while the broader Nifty50 closed at 10,679, down 38.40 points. In the broader market, the BSE Midcap slipped over 1 per cent, while the BSE Smallcap dipped 0.8 per cent.
In terms of investments, provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 148.42 crore, and the domestic institutional investors sold stocks worth Rs 578.92 crore.
Here are key intraday ideas for today's trade:
Bharti Airtel (Buy)
Target: Rs 412
Stoploss: Rs 400
The company may sell 25% in its Africa subsidiary
Stake sale possible via IPO in 2019
The company expected to raise $150 crore via stake sale
Funds to be used for strengthening India business
Uttam Galva (Buy)
Target: Rs 15
Stoploss: Rs 14.3
ArcelorMittal may pay back debt
Debt payment as a goodwill gesture
Rs 8000 crore debt on the company
Mawana Sugar (Buy)
Target: Rs 41.5
Stoploss: Rs 40
GST Council meeting later today
5% cess expected on sugar
KM Sugar (Buy)
Target: Rs 11.5
Stoploss: Rs 10.9
GST Council metting later today
5% cess expected on sugar
L&T Finance (Buy)
Target: Rs 178
Stoploss: Rs 170
Consolidated profit up 28% to Rs 406 crore from Rs 316 crore (YoY)
Consolidated income up 27% to Rs 2748 crore from Rs 2163 crore (YoY)
Net NPA slipped to 2.34% from 2.87% (QoQ)
Gross NPA slipped to 4.80% from 5.49% (QoQ)
IIFL Holings (Buy)
Target: Rs 770
Stoploss: Rs 748
Income up 21.5% to Rs 1035 crore from Rs 852 crore (YoY)
Profit up 35.9% from Rs 234 to Rs 318 crore (YoY)
Target: Rs 530
Stoploss: Rs 545
CDSCO expressed reservations on company's clinical trial
CDSCO: Central Drugs Standard Control Organisation
The company violated clinical trial norms
Tata Motors (Buy)
Target: Rs 340
Stoploss: Rs 330
The company to sell defence, aerospace business to Tata Advance Systems (TASL)
The company to receive Rs 100 crore from TASL for defence operations
Target: Rs 620
Stoploss: Rs 602
China has exempted import tariffs on 28 key drugs
Target: Rs 355
Stoploss: Rs 340
Revenue up 18 percent at Rs 529 crore (YoY)
Net profit down 52 percent at Rs 12 crore (YoY)
Exceptional gain of Rs 25 crore in base quarter (YoY)
EBITDA up 82 percent at Rs 25.5 crore (YoY)
Margin at 4.8% vs 3.1% (YoY)
(Stocks mentioned here are for informational purpose. Consult your financial advisor before investing)
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