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Indian Indices Trade Higher; Nestle & Reliance Industries Top Gainers
Wed, 19 Feb 12:30 pm | Monish Vora, TM Team

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Share markets in India are presently trading on a strong note. Benchmark indices staged a gap-up opening today after falling over the past four sessions as higher Asian markets lifted the sentiment.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while auto stocks are witnessing selling pressure.

The BSE Sensex is trading up by 281 points while the NSE Nifty is trading up by 87 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 1.1%, respectively.

The rupee is trading at 71.54 against the US$.

Speaking of Indian share markets, we've been telling you about the rebound in smallcap stocks in 2020 for quite some time now.

And the market trend since the start of 2020 tells us, it's already happening!

Have a look at the chart below:

Smallcaps Are Way Ahead of the Sensex in 2020

As you can see, since the start of 2020, smallcaps have beaten largecaps by a wide margin.

But this is just the start.

We believe smallcaps have a long way to go.

You can make good gains with a careful selection of smallcap stocks and long-term horizon.

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In news from the aviation space, Jet Airways' Committee of Creditors (CoC) on Tuesday decided to extend the deadline for submission of bids to March 10 as a new entity evinced interest in the airline.

The deadline for submitting the bids for Jet Airways, which is undergoing insolvency process, ended on Monday.

Against this backdrop, the CoC extended the deadline for submission of bids to March 10.

Earlier, South American conglomerate Synergy Group and New Delhi-based Prudent ARC were given time to submit resolution plan. Reportedly, they failed to meet the deadline.

The beleaguered airline had shut its operations in April last year due to severe cash crunch.

Jet Airways was admitted under the insolvency process on June 20, 2019, after its bankers failed to find any takers despite months of negotiations.

The airline stopped flying on April 17 and it had around 14,000 employees on that date.

How all this pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Moving on to news from the pharma sector, shares of Aurobindo Pharma surged 19% today after the company's Unit IV received Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAl) status from the US health regulator.

In a BSE filing, Aurobindo Pharma said that the USFDA had inspected company's Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram, Hyderabad, from 4th to 13th November 2019.

At the end of the inspection, the company had issued a 'Form 483' with 14 observations.

On November 13, 2019, the company had informed the stock exchanges that none of these observations are related to data integrity issues.

Currently, Unit 4 has 15 abbreviated new drug applications (ANDA) approvals pending over next one year.

Earlier this month, the company had reported a strong growth of 11.9% in operational revenues at Rs 59 billion in the December quarter (Q3FY20).

The company's consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) margin remained stable at 20.5% in Q3FY20. EBITDA grew 11.2% YoY at Rs 12.1 billion.

However, profit after tax (PAT) declined 1% YoY to Rs 7.1 billion, due to higher depreciation.

Aurobindo Pharma share price is presently trading up by 17%.

To know more about the company, you can read Aurobindo Pharma's latest result analysis on our website.

Speaking of pharma sector, in the video below, Tanushree tells us where the sector stands now and also about the potential for a rebound.

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To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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Stock Market Updates

HUL at All Time High; BSE FMCG Index Up 1.5% (Today's Market)

Feb 19, 2020 01:08 PM

HUL share price has hit an all time high at Rs 2,307 (up 3.0%). The BSE FMCG Index is up by 1.5%. Among the top gainers in the BSE FMCG Index today are HUL (up 3.0%) and NESTLE (up 2.1%). The top losers include BRITANNIA (down 0.1%) and ZYDUS WELLNESS (down 0.3%).

ENGINEERS INDIA Surges by 5%; BSE CAPITAL GOODS Index Up 0.2% (Today's Market)

Feb 19, 2020 12:52 PM

ENGINEERS INDIA share price has surged by 5% and its current market price is Rs 83. The BSE CAPITAL GOODS is up by 0.2%. The top gainers in the BSE CAPITAL GOODS Index are ENGINEERS INDIA (up 5.0%) and SOLAR INDUSTRIES (up 6.1%). The top losers are BHARAT ELECTRONICS (down 0.1%) and ELGI EQUIPMENTS (down 0.1%).

BHARAT DYNAMICS Surges by 10%; BSE 500 Index Up 0.9% (Today's Market)

Feb 19, 2020 12:32 PM

BHARAT DYNAMICS share price has surged by 10% and its current market price is Rs 296. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are BHARAT DYNAMICS (up 10.2%) and AUROBINDO PHARMA (up 17.9%). The top losers are APOLLO TYRES and SUNDRAM FASTENERS .

ASTRAZENECA PHARMA Surges by 5%; BSE HEALTHCARE Index Up 2.0% (Today's Market)

Feb 19, 2020 12:12 PM

ASTRAZENECA PHARMA share price has surged by 5% and its current market price is Rs 2,881. The BSE HEALTHCARE is up by 2.0%. The top gainers in the BSE HEALTHCARE Index are ASTRAZENECA PHARMA (up 5.0%) and TORRENT PHARMA (up 5.1%). The top losers are SYNGENE INTERNATIONAL (down 0.3%) and FORTIS HEALTHCARE (down 0.3%).

WOCKHARDT Surges by 7%; BSE HEALTHCARE Index Up 2.0% (Today's Market)

Feb 19, 2020 12:08 PM

WOCKHARDT share price has surged by 7% and its current market price is Rs 362. The BSE HEALTHCARE is up by 2.0%. The top gainers in the BSE HEALTHCARE Index are WOCKHARDT (up 6.9%) and TORRENT PHARMA (up 6.0%). The top losers are SYNGENE INTERNATIONAL (down 0.3%) and FORTIS HEALTHCARE (down 0.3%).

Sensex Opens 396 Points Higher; Realty and Healthcare Stocks Witness Buying (Today's Market)

Feb 19, 2020 09:30 am

Indian share markets open on a positive note. The BSE Sensex opened up by 396 points, while the Nifty is trading up by 123 points.

View More Indian Share Market News

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Feb 19, 2020 01:19 PM