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Markets will remain closed on 19th April, 2019 on account of Good Friday.

Indian Indices Hit Fresh Record High; ICICI Bank & TCS Top Gainers
Tue, 16 Apr 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a positive note. Barring realty sector, all sectoral indices are trading on a positive note with stocks in the banking sector, consumer durables sector and FMCG sector witnessing maximum buying interest.

The BSE Sensex is trading up by 302 points (up 0.8%), while the NSE Nifty is trading up by 84 points (up 0.7%). The BSE Mid Cap index is trading up by 0.2% and the BSE Small Cap index is trading up by 0.4%.

The rupee is trading at Rs 69.60 against the US$.

The recent surge in the Indian stock markets can be attributed to the strong foreign investor inflows into Indian equities.

The chart reveals the monthly trend in foreign investor flows into Indian equities over the last five years. The period almost coincides with the term of the Modi government.

Are Foreign Investors Coming Back to Indian Equities?

During this period, you can see that foreign investor participation in Indian equities shrank.

Over the last five years, foreign investors were net sellers in 24 months. Effectively, foreign investors were net sellers 40% of the time.

The chart shows that the highest monthly net foreign investor inflow over the last five years was recorded in March 2017 at Rs 337.8 billion.

However, foreign investor flows are influenced by a myriad of global factors and are susceptible to change course anytime.

Moving on, market participants are tracking Wipro share price and Mastek share price as these companies are set to announce their Q4FY19 results later today.

You can also read our recently released Q4FY19 results: Infosys, TCS, Bajaj Consumer Care.

In the news from the automobiles sector, Tata Motors share price is in focus today on reports that the auto major is planning to expand its electric vehicles (EV) segment in the passenger vehicle space by widening its portfolio.

The company will add Altroz EV, a premium hatchback, and H2X, a small SUV which will be in league with Tiago and Tigor EV.

Yesterday, shares of the company ended 7.5% higher, to hit a fresh six month high of Rs 230 on expectation of improved outlook.

Shares of the company have rallied 62% from their February 8, 2019, low of Rs 142, after the company's promoter, Tata Sons bought shares worth over Rs 5 billion in the company through open market.

Reportedly, between February 11 and February 26, Tata Sons had purchased 31.7 million shares worth of Rs 5.3 billion from open market, according to disclosure made by the company to stock exchanges. Post-transaction, Tata Sons' holding in Tata Motors increased to 34.4% from 33.6%.

Last month, the company's wholly owned subsidiary Jaguar Land Rover (JLR) said it expects improved financial results for the quarter ended March 2019 (Q4FY19). JLR is also planning to launch its electrified products in India.

Speaking of automobiles sector, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

She believes, This could be the opportunity long term investors were waiting for.

Moving on to the news from the aviation space, lenders to Jet Airways have demanded more pledged shares of founder Naresh Goyal and planes owned by the airline as collateral for advancing further loans.

As per an article in The Economic Times, the delay in releasing funds has left the debt-laden airline to total stoppage of operations.

Here's an excerpt from the article:

  • The interim funding hasn't been forthcoming thus far, CEO Vinay Dube said in a communication to Jet's employees on Monday, while informing them about the scheduled board meeting on Tuesday.

    The Jet management will inform the board about the current state of finances and operations. It has decided to extend suspension of international operations till Thursday and stick to its current seven-plane operations.

Reportedly, ICICI Bank Yes Bank and PNB objected to any release of emergency money while State Bank of India (SBI), Canara Bank and Bank of India did not have a problem.

Lenders will also select the qualified bidders from the companies that have expressed interest in investing in the airline.

Goyal has agreed to pledge 41.1% of Jet's shares but hasn't formally done so yet. He has sought to retain 9.9% shares unencumbered.

The cash-strapped airline was expecting emergency funding of at least Rs 15 billion to be released by the lenders to meet its operational requirements after Goyal pledged his shares.

Jet owns 17 planes which include Boeing 777s and Airbus A330s, while the rest are leased. It had a fleet of 124 planes as of December 2018. But the owned planes have already been collateralised against funds that were raised to finance their purchase.

Jet has defaulted on loan payments, grounded almost all planes, stopped paying its employees and laid off many of them. The airline's second biggest shareholder Etihad Airways has expressed an interest in investing a second time in it though with a condition that its stake be capped at 24%.

Other bidders include TPG Capital, Indigo Capital and Think Equity-Redcliffe Capital. The state-run National Investment and Infrastructure Fund will bid directly.

Yesterday in a statement, SBI said the bidders are currently being vetted by the legal team of SBI Caps.

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

Jet Airways share price is presently trading down by 3.6%.

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Read the latest Market Commentary

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Stock Market Updates

Sensex Ends 135 Points Lower; Realty and Telecom Stocks Witness Selling (Today's Market)

Apr 18, 2019 Closing

The BSE Sensex ended the day down by 135 points, while the NSE Nifty closed down by 44 points.

RELIANCE CAPITAL Plunges by 10%; BSE 500 Index Down 0.4% (Today's Market)

Apr 18, 2019 02:04 PM

RELIANCE CAPITAL share price has plunged by 10% and its current market price is Rs 173. The BSE 500 is down by 0.4%. The top gainers in the BSE 500 Index are SPICEJET (up 5.9%) and STAR CEMENT LTD (up 5.9%). The top losers are RELIANCE CAPITAL (down 10.0%) and JET AIRWAYS (down 29.4%).

CRISIL Plunges by 5%; BSE 500 Index Down 0.5% (Today's Market)

Apr 18, 2019 01:30 PM

CRISIL share price has plunged by 5% and its current market price is Rs 1,600. The BSE 500 is down by 0.5%. The top gainers in the BSE 500 Index are SPICEJET (up 5.6%) and DEEPAK FERTILISERS (up 3.9%). The top losers are CRISIL (down 5.0%) and RADICO KHAITAN (down 5.2%).

Sensex Turns Red; Jet Airways Bleed (Today's Market)

Apr 18, 2019 12:30 pm

The BSE Sensex is trading down by 111 points, while the NSE Nifty is trading down by 34 points.

RADICO KHAITAN Plunges by 5%; BSE 500 Index Down 0.5% (Today's Market)

Apr 18, 2019 10:42 AM

RADICO KHAITAN share price has plunged by 5% and its current market price is Rs 354. The BSE 500 is down by 0.5%. The top gainers in the BSE 500 Index are SPICEJET (up 6.9%) and DEEPAK FERTILISERS (up 3.4%). The top losers are RADICO KHAITAN (down 5.0%) and RELIANCE CAPITAL (down 7.6%).

DISH TV Plunges by 5%; BSE 500 Index Down 0.6% (Today's Market)

Apr 18, 2019 10:28 AM

DISH TV share price has plunged by 5% and its current market price is Rs 40. The BSE 500 is down by 0.6%. The top gainers in the BSE 500 Index are SPICEJET (up 5.9%) and IPCA LABS (up 3.5%). The top losers are DISH TV (down 5.3%) and PRESTIGE ESTATES (down 5.5%).

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