Devyani International Shares Gain As Motilal Oswal Initiates Coverage With Buy

17:06:40 IST

Thank you, readers! That's all from CNBC-TV18.com's live market coverage on January 18, 2022. Stay tuned for other updates on our website: CNBCTV18.com

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17:06:14 IST

Bears taken control of market for short term: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, said the index breached the near-term support zone of 18,150-18,120, where there were multiple short-term support parameters. "On the daily chart, the Nifty has formed a bearish outside bar along with an engulfing bear candle. This shows that the bears have now taken the control for the short term," he said.

Going ahead, he sees near-term support at 18,000 below which, the index can plunge towards 17,700. On the other hand, Tuesday's high of 18,350 now becomes a crucial short-term barrier," he said. 

16:52:39 IST

Some correction cannot be ruled out for Nifty50: Ruchit Jain

Ruchit Jain, Lead Research at 5paisa.com, believes some correction within an uptrend cannot be ruled out for the Nifty. The last hour sell-off resulted in a close below its 20-day exponential moving average for the index after almost a month, he said. "This certainly has applied some brakes to the recent momentum... Immediate support for Nifty is placed around 18,000 given that there are decent positions in the 18,000 put option in both weekly as well as monthly series. In case 18,000 does not hold, we could see this correction getting extended towards the 20-day exponential moving average, which is placed at 17,800. On the flipside, 18,300-18,350 will now be seen as immediate resistance for the Nifty," he said. 

"Although we may see a short-term correction towards the above mentioned levels, it should be construed as a corrective phase within an uptrend as the recent upmove seems impulsive, and hence, positional traders can look for buying opportunities in this downmove. However, intraday traders could have to deal with higher volatility, and hence they should avoid aggressive positions and trade with proper risk management," he added.

16:38:36 IST

Rupee may drift lower towards 75.20 vs dollar in coming days: Sugandha Sachdeva

Sugandha Sachdeva, VP-Commodity and Currency Research at Religare Broking, sees the rupee drifting lower towards 75.20 against the greenback in the coming days. "The rupee has come under pressure amid a rebound in the dollar from two-month lows and a relentless upside in Crude oil prices, which have surged by close to 13 percent since the beginning of the year. Another headwind for the domestic currency is the rising trade deficit, which has widened by 37.92 percent on a year-on-year basis in December 2021. The threat of aggressive rate increases by the US Fed looks to further weigh on the Indian rupee," she said. 

16:30:17 IST

Margins under pressure owing to higher wages: Sonata Software

Sonata Software delivered a healthy set of Q3 numbers. IT services revenue growth was at 8.6 percent on a constant currency basis, but the margin performance was muted.

Jagannathan Chakravarthi, CFO of Sonata Software, spoke to CNBC-TV18 on the earnings fineprint. (

Read more)

16:28:23 IST

Your Stocks | DMart, Dr Reddy's, Maruti, HDFC Life in focus 

Parthiv Shah, Director at Tracom Stock Brokers, and Vaishali Parekh, Head of Technical Research at Prabhudas Lilladher, answered all stock- and investment-related queries on your own CNBC-TV18 show, Your Stocks. (

Watch)

16:27:03 IST

Will look to monetise ad inventory in cricket, sports: Nazara Tech

Nazara Technologies will look to monetise its ad inventory in cricket and sports going forward, CEO Manish Agarwal said in an interview to CNBC-TV18. The mobile gaming company is set to acquire a 55 percent stake in ad-tech firm Datawrkz for Rs 124 crore.

Agarwal said this is Nazara's fifth merger & acquisition deal since its IPO. (

Read more)

16:26:15 IST

Dixon BoAt Tie-Up | Marketing, sales to be handled by Imagine, says Atul Lall

Imagine Marketing - the maker of boAt audio products along with Dixon Technologies - has signed a joint venture agreement to design and manufacture wireless audio solutions in India. In an interview to CNBC-TV18, Atul Lall, managing director of Dixon Technologies, and Vivek Gambhir, CEO of Boat, gave the fine print of the deal. (

Read more)

16:21:35 IST

Nifty has formed bearish engulfing pattern on daily chart: LKP Securities' Rupak De

Rupak De, Senior Technical Analyst at LKP Securities, believes the Nifty has formed a bearish engulfing pattern as well as a bearish harmonic pattern on the daily chart. "On the higher end, the price found resistance at 18,350 which resulted in a sharp fall towards 18,080... Momentum oscillator RSI has entered a bearish crossover. On the higher end, resistance is visible at 18,350-18,400 levels, and support is visible at 18,000-17,850 on the lower end," he said.

16:12:35 IST

This is a 'buy on dips' market: Julius Baer's Rupen Rajguru

Rupen Rajguru, Head-Equity Investment and Strategy at Julius Baer, continues to believe that it is a 'buy on dips' market for now. "The Indian market is trading at probably say one or almost one-and-a-half standard deviation above its long-term average. Correction is something which everybody has been waiting. We got a bit of correction sometime in December but bounced back. The reason for that is probably India would be the only large economy that is going to have a very strong earnings outlook for next two years as compared to any other country in the world," he said. 

Rajguru also said that overall valuations are elevated. "We would definitely wait for a better entry point as far as this market is concerned. But just to conclude from our stance, we remain constructive on the Indian market, because after a long time, we are going to have a pretty strong profit rather earnings cycle. Historically, during those times, the markets do tend to be a lot upward trending and that is what we expect at least over next 2-3 years," he added.

15:55:17 IST

Market At Close | Sensex, Nifty50 fail to hold on to intraday gains

Here are some highlights: 

--Auto stocks reverse Monday’s gains; Nifty Auto down 2%

--Private banking stocks lend support; all major private banking scrips in the green

--4 of 5 top Nifty gainers private banks: Axis, ICICI, HDFC Bank, Kotak)

--Nifty Bank sheds 6 pts to 38,210; midcap index down 659 pts at 31,381

--All sectoral indices in the red; realty, auto top losers

--Cement stocks take major beating post-mixed UltraTech earnings

--Grasim, UltraTech, Ambuja, ACC, Ramco Cements fall 3-7%

--Bajaj Finance down over 1% ahead of earnings

--43 Nifty stocks in the red; Tata Consumer, UltraTech, Maruti top losers

--Tech Mahindra down 3% after company announces acquisitions

--Select midcap stocks in the green: PTC, Cholamandalam Investment, ICICI Lombard

--Market breadth favours bears, advance-decline ratio at 2:7

15:53:27 IST

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Rupee ends lower at 74.57 against US dollar

The rupee ended at 74.57 against the greenback on Tuesday. On Monday, it had settled at 74.24.

15:45:53 IST

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Market At Close | Maruti, Tata Consumer, UltraTech, Eicher top blue-chip laggards

Grasim, Tech Mahindra, HCL Tech, JSW Steel and UPL were also among the top blue-chip losers. A total of six stocks in the Nifty50 pack eked out gains. 

Here's how the 30-scrip basket fared:

15:39:18 IST

Closing Bell | Sensex down 554 points at 60,755, Nifty50 at 18,113

The 30-scrip index ended 554.1 points or 0.9 percent lower at 60,754.9 and the broader Nifty50 benchmark settled at 18,113.1, down 195.1 points or 1.1 percent from its previous close. 

15:37:37 IST

Fabindia IPO | Company likely to file DRHP with SEBI this week, say sources

Ethnic wear retail store chain Fabindia is likely to file preliminary papers with markets regulator SEBI this week for an initial public offering (IPO), sources told CNBC-TV18. (

Read more on Fabindia IPO)

15:35:08 IST

Real estate story superb, like Godrej Properties, Oberoi, Prestige, Macrotech: Mehraboon J Irani

Market expert Mehraboon J Irani has remained positive on the real estate space for a while. "The story is superb and if you look at the operational performance, a strong operational performance continues for most listed players. Some of them have registered quarterly pre-sales numbers, which are a record by itself. Even the property registration data for metro cities is well about on average. Now the office space leasing is also doubled quarter-on-quarter in the third quarter; everything is going in favour of that. You may have an interest rate hike coming," he said. 

"I feel that the potential for appreciation from the currently levels relatively could be higher than the IT pack. I personally like some of the names in the sector: Godrej Properties, Oberoi Realty, Prestige Estates and Macrotech Developers. I had mentioned about these companies in the past also, and clear disclosures that two of these four I am personally holding in my portfolio," he added.

15:30:48 IST

IT a great story: Mehraboon J Irani

Market expert Mehraboon J Irani believes IT is a great story. "One should have it in the portfolio; it is not a sector where I personally believe that we are going to make big money," he said. 

15:29:37 IST

Auto stocks can give good returns over 1 year: Julius Baer's Rupen Rajguru

Rupen Rajguru, Head-Equity Investment and Strategy at Julius Baer, believes auto stocks can give good returns over the next one year. "Auto is a rotation call for us. All of us are cognizant of the fact that this industry definitely is in for disruption," he said. 

"Probably the base effect will come into play, the commodity prices as headwinds are kind of softening and most importantly, the chip shortage also will get resolved. So confluence of all these three factors, probably from a tactical perspective, in the next 3-6 months, we believe auto as a sector will bounce back and that is what we are seeing," he added. 

15:25:42 IST

Key support for Bitcoin remains at $40,000: WazirX trade desk

WazirX's trade desk believes key support for Bitcoin remains at the $40,000 mark. "On the 12-hourly time frame, BTC continues to trade along the descending channel pattern. Meanwhile, the Bitcoin hash-rate has reached an all-time high... This could play into the hands of the BTC prices and we could see a possible upside in the token," it said. 

15:21:07 IST

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All sectors in the red

Gains in heavyweights such as Axis Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank lent some support to the headline indices.

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15:07:18 IST

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Paytm near Rs 1,100 mark once again; should you make fresh entry now?

Paytm parent One97 Communications' shares succumbed to selling pressure yet again, dropping below the Rs 1,100 mark on Tuesday. The stock continued to decline for a second straight session, following a recovery of eight percent on Friday.

At Tuesday's low so far, Paytm shares changed hands at a discount of 50.4 percent to its issue price of Rs 2,150. (

Read more on Paytm shares)

15:05:29 IST

ICICI Securities Q3 net profit up 42% at Rs 380 crore, revenue up 52% at Rs 942 crore

ICICI Securities reported a consolidated net profit of Rs 380.3 crore for the December quarter, up 42.4 percent on a year-on-year basis. Its consolidated revenue increased 51.8 percent to Rs 941.6 crore.

Its consolidated EBITDA came in at Rs 608.3 crore, up 53.2 percent on year. The EBITDA margin stood at 64.6 percent for Q3, as against 64 percent for the year-ago period.

14:41:18 IST

Like Macrotech Developers: Siddhartha Khemka

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, likes Macrotech Developers. The company has almost Rs 20,000 crore worth of near-ready inventory which you can use, he said. "Demand is improving and that can be utilised in the coming period and that will lead to good cash inflows. Apart from that, the recent QIP of Rs 4,000 crore is helping it deleverage its balance sheet which is key when we evaluate some of these real estate players," he said. 

Khemka also said the Mumbai micro market is seeing good pent-up demand. "Lodha is well set to benefit from this pace. So overall, we like Lodha. We have a target price of Rs 1,700 with an upside of about 35-37 percent from current levels," he said. 

14:32:40 IST

CLSA initiates coverage on Devyani International, target price Rs 207/share

CLSA has initiated coverage on Devyani International with an 'outperform' rating and assigned a target price of Rs 207 per share. The brokerage is positive on the company's expansion spree and expects its operating leverage benefits to kick at some point. The stock has already rallied about 56-57 percent over the last three months. (

Read more)

14:30:30 IST

Realty sector at inflection point after almost 10 years of consolidation: Siddhartha Khemka

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, is positive on the real estate sector, which he believes to be at an inflection point after almost 10 years of consolidation. "If you look at the residential sector segment, it is up for an upcycle after 10 years of consolidation primarily led by improved affordability. Post-pandemic, we saw interest rates at record lows and decadal lows in interest rates of sub-seven percent for housing loans. Apart from that, the prices for the real estate sector have been pretty stagnant for last seven years and there has been a disciplined launch from the large players and that has led to kind of a balance between demand and supply," he said. 

"Post-pandemic, we saw demand pick up clearly and that led to an inventory overhang, which was one of the biggest concerns for the sector for the past couple of years. The demand is picking up pretty fast. We have seen that quarter after quarter and the pre-quarterly sales data is that all the real estate players have announced. They are at kind of record levels at which they are able to sell off the inventory. So overall, putting all these things together, we believe that the sector is poised for an uptick and is there is still room for further upside. We know that real estate cycles lasts for a couple of years and we have just seen last few months of uptake. With the demand pretty strong, interest rates poised to remain low, we believe that the sector can do well in the coming years as well," he added.

14:19:24 IST

Buy Axis Bank, DLF: Shrikant Chouhan

Here are two trading calls from Shrikant Chouhan of Kotak Securities:

--Buy Axis Bank for a target of Rs 750-755 in next few trading sessions and Rs 780-790 in the long run with a stop loss at Rs 720 

--Buy DLF for a target of Rs 440-445 with a stop loss at Rs 415 

14:18:14 IST

Lupin to acquire portfolio of brands of Anglo-French Drugs & Industries for Rs 334 crore 

  Lupin said it will acquire the portfolio of brands of AngloFrench Drugs & Industries and its associates, including all rights and interests associated with such products. The turnover of these brands for the year ended March 31, 2021 was Rs 94.6 crore, Lupin said in a regulatory filing.    Lupin shares were up 1.2 percent at Rs 954 apiece on BSE, having risen as much as two percent earlier in the day. 

14:09:59 IST

Exclusive | Sources say Fabindia likely to file DRHP with SEBI this week 

Fabindia plans to raise more than Rs 4,000 crore through the proposed IPO, which is a combination of fresh issuance of equity and an offer for sale (OFS). The company's fresh issue will be worth Rs 500 crore and the OFS worth Rs 3,500 crore, sources told CNBC-TV18. 

14:01:13 IST

Should you buy, sell or hold UltraTech Cement shares after Q3 results?

UltraTech Cement shares slipped to negative territory after the cement maker's EBIT as well as EBIT margin fell short of Street estimates.

During market hours on Monday, UltraTech reported a net profit of Rs 1,710 crore for the October-December period, up 8 percent on a year-on-year basis. Its revenue increased 5 percent to Rs 12,985 crore. Analysts in a CNBC-TV18 poll had expected the company to report a net profit of Rs 1,163 crore over revenue of Rs 12,625 crore.

UltraTech's EBITDA was down 25 percent at Rs 2,419 crore. Its EBITDA margin came down to 18 percent from 25.3 percent in the year-ago period. Analysts had predicted the company's EBITDA at Rs 2,480 crore and EBITDA margin at 19.6 percent. (

Read more on UltraTech Cement)

Source : https://www.msn.com/en-in/finance/markets/stock-market-highlights-sensex-ends-554-pts-lower-nifty-below-18150-maruti-ultratech-fall-4-25/ar-AASSk8b

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What should investors do with UltraTech Cement post Q3 results; buy, sell or hold?

Source:MSN

What should investors do with UltraTech Cement post Q3 results; buy, sell or hold?