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Sensex Trades Marginally Higher; Tata Steel & Bajaj Finance Top Gainers
Wed, 18 Sep 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a positive note, tracking gains in global peers. US President Donald Trump said he did not want war and Saudi Arabia said it would restore its lost crude oil output by the end of September.

Market participants are awaiting the outcome of the US Federal Reserve's policy meeting due later today.

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

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The BSE Sensex is trading up by 47 points while the NSE Nifty is trading up by 14 points. The BSE Mid Cap index is trading up by 0.5%, while the BSE Small Cap index is trading up by 0.3%.

The rupee is currently trading at 71.31 against the US$.

Speaking of stock markets in general, the market is typically focused on the most recent star performers.

You will often find the likes of HUL or HDFC Bank being the market darlings for never having a disappointing quarter.

But it is rare to find companies that thrive through most of their survival period.

Tanushree Banerjee shares few of her thoughts on this. Here's an excerpt of what she wrote in a recent edition of The 5 Minute WrapUp...

  • It is rare to find companies that survive for decades. It's even rarer to find ones that thrive through most of their survival period.

    So, if you do not wish to pay steep valuations for the market darlings, you need to look for the companies with history and consistency on their side.

    And they shouldn't be too conspicuous to the market either.

    I am talking of companies like Hawkins and City Union Bank. They have a track record of paying dividends for decades.

    The dividends such companies pay are especially helpful at a time when globally interest rates are headed lower.

And, as seen in the chart below, 'risk-free returns' from debt seem to have gone missing.

Inflation Adjusted Risk Free Returns Are Negligible Globally

So, should you ignore the big bluechips while chasing dividend stocks?

As per Tanushree, big money is made over the long term, not by making more in the good years but by losing less in the bad years.

In news from the finance sector, a resolution plan to rescue debt-laden Dewan Housing Finance Corporation (DHFL) has hit a major roadblock as only a small segment of bondholders have agreed to be on board.

According to a custodian of DHFL bonds, the process has been further complicated as certain bondholders have initiated a process to take DHFL to bankruptcy court.

As per reports, out of the 87,000 debenture holders who had been asked to be party to the resolution plan being deliberated upon by banks, only 24,400 debenture holders had responded before the due date earlier this month.

The banks have signed an inter-creditor agreement (ICA) to come up with a plan to restructure nearly US$ 14 billion of DHFL's debt. They had been trying to get bondholders on board as well for the plan to succeed.

As per the new central bank rules for resolving bad debts, it is mandatory for 75% of lenders by value and 60% by number to sign the ICA to execute a revival plan which in DHFL's case can be achieved only with the support of bondholders.

Banks will need support from insurance companies, pension funds and other institutional investors to approve the resolution plan. The deadline for this plan ends on 25 September.

Banks have a collective Rs 350 billion exposure to DHFL through loans, and the lenders also hold debentures. Bond holders, which include mutual funds, insurance companies and pension funds, also have a Rs 450 billion exposure.

State Bank of India (SBI), Bank of Baroda and Union Bank of India are the top lenders to the company.

DHFL share price is presently trading down by 2.1%.

Moving on to news from the realty sector, Sunteck Realty share price is in focus today. Stock of the company gained over 3.5% intraday after the company acquired a premium project in Mumbai.

The luxury developer said it acquired a prime project near Mumbai's Lokhandwala, Andheri with the potential for development of approximately 1.1 million square feet in saleable area and a revenue of over Rs 25 billion in the next 4-5 years.

The company said that the project is acquired under the asset light Joint Development Agreement (JDA) model focused on establishing a strategic tie-up with credible partners, which will further strengthen company's cash flow and balance sheet.

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

Speaking of the realty sector, Research analyst, Sarvajeet Bodas talks about how Modi's push towards affordable housing can revive the real estate sector and accelerate the economic activity:

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

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Stock Market Updates

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

Oct 14, 2019 03:32 PM

ENGINEERS INDIA share price has plunged by 5% and its current market price is Rs 112. The BSE CAPITAL GOODS is down by 0.2%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 3.6%) and SUZLON ENERGY (up 3.0%). The top losers is ENGINEERS INDIA (down 5.0%).

INDIA TOURISM DEV. Surges by 11%; BSE 500 Index Up 0.2% (Today's Market)

Oct 14, 2019 03:26 PM

INDIA TOURISM DEV. share price has surged by 11% and its current market price is Rs 269. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index is INDIA TOURISM DEV. (up 11.2%). The top losers are GODREJ CONSUMER and TTK PRESTIGE .

REPCO HOME Plunges by 6%; BSE 500 Index Up 0.6% (Today's Market)

Oct 14, 2019 03:10 PM

REPCO HOME share price has plunged by 6% and its current market price is Rs 300. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are PC JEWELLER (up 9.5%) and MOTILAL OSWAL (up 8.9%). The top losers are REPCO HOME (down 6.2%) and PNB HOUSING FINANCE LTD (down 5.7%).

RELIANCE CAPITAL Plunges by 10%; BSE 500 Index Up 0.7% (Today's Market)

Oct 14, 2019 02:58 PM

RELIANCE CAPITAL share price has plunged by 10% and its current market price is Rs 17. The BSE 500 is up by 0.7%. The top gainers in the BSE 500 Index are PC JEWELLER (up 11.2%) and INDIA TOURISM DEV. (up 8.9%). The top losers is RELIANCE CAPITAL (down 10.0%).

BAJAJ CONSUMER CARE Plunges by 5%; BSE FMCG Index Up 0.4% (Today's Market)

Oct 14, 2019 01:54 PM

BAJAJ CONSUMER CARE share price has plunged by 5% and its current market price is Rs 243. The BSE FMCG is up by 0.4%. The top gainers in the BSE FMCG Index are P&G HYGIENE (up 3.1%) and GODFREY PHILLIPS (up 2.3%). The top losers is BAJAJ CONSUMER CARE (down 5.1%).

Indian Indices Extend Gains; Tata Motors & ONGC Climb 5% (Today's Market)

Oct 14, 2019 12:30 pm

The BSE Sensex is trading up by 218 points, while the NSE Nifty is trading up by 57 points.

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