Morning Notes
11th Nov, 2019

Trading Range:

Nifty opened gap down at 11987 on Friday and made a high and low of 12034 and 11889 respectively before closing negative at 11908.


For the day, support for Nifty exists at 11850 and 11790 levels whereas resistance for Nifty stands at 12000 and 12050 levels.


Bank Nifty opened gap down at 30571, made a high of 31108, low of 30504, and closed positive at 30749. For the day, support for Bank Nifty exists at 30500 and 30200 levels whereas resistance for Bank Nifty stands at 30900 and 31100 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,323 -0.81
Nifty 11,908  -0.86
BSE 200 4,982 -0.90
BSE Midcap 14,731 -0.79
BSE Smallcap 13,475 -0.53
Dow Jones 27,681 +0.02
NASDAQ 8,475 +0.48


NIFTY 11908.15 (-103.90) (-0.86%)
NIFTY NOV FUTURE 11945.35 (37.20 Points Premium)
NIFTY PCR - OI 1.26(-0.21)
NIFTY OPEN INTEREST 1.65Cr. (-2.28%)
INDIA VIX 15.85 (+4.26%)


CALL 11900 CE +0.61 lac Shares
CALL 12000 CE +1.19 lac Shares
PUT 11900 PE +1.56 lac Shares
PUT 11700 PE +0.92 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 18,359 -0.56
Bankex 34,836 +0.64
PSU 6,966 -1.80
Healthcare 13,089 -1.70
IT 15,235 -1.55
Market Turn Over (`cr)
Index 08/11 07/11
BSE Cash 2,911 2,597
NSE Cash 44,084 40,559
NSE F&O 957,753 2,863,648
BSE Delivery % 44.17 47.65
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 21.78 78.22
BSE 200 22.89 77.11
BSE 500 29.60 70.00
Total BSE 37.93 55.69
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 57.24 +0.16
Gold Rs./ 10 Gms 37687.00 +0.30
Silver Rs./ Kg 43872.00 -0.67
Rs.- US $ 71.37 +0.08
Rs.- Euro 78.66 -0.19
FII (Rs cr )
08/11* 07/11*
FIIs +894.84 +1261.87
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

Details Buy Sell Open interest at the
end of the day
Net Position
No. of
(Rs. Cr)
No. of
(Rs. Cr)
No. of
(Rs. Cr)
(Rs. Cr)
Index Futures       49,014.00       3,668.46       52,614.00       3,918.45    1,90,787.00     16,110.80    (249.99)
Index Options  27,74,721.00  1,99,717.63  27,56,185.00  1,98,241.05    6,08,601.00     50,477.11  1,476.58
Stock Futures    2,66,777.00     14,984.30    2,77,409.00     14,812.21  15,31,454.00     90,281.59     172.09
Stock Options    1,03,517.00       5,701.18    1,02,513.00       5,702.93       73,752.00       4,324.74       (1.75)
Total  31,94,029.00  2,24,071.57  31,88,721.00  2,22,674.64  24,04,594.00  1,61,194.24  1,396.93
Corporate News
The Ministry of Environment has granted clearance to the Indian Oil Corporation Ltd (IOCL) to set up a Rs 766-crore 2G ethanol plant in Haryana’s Panipat district. Making the announcement through a tweet on Sunday, Union Environment Minister Prakash Javadekar said, “Happy to inform that Environment Clearance is given to IOCL to set up new 2G Ethanol plant in Panipat.”. (BL).
The National Company Law Appellate Tribunal, Delhi, has stayed the liquidation process of the debt-strapped Hyderabad-based construction and infrastructure company IVRCL Ltd. This development follows a Company Appeal Insolvency petition moved by First Global Finance Ltd in the NCLAT, seeking stay of the liquidation process on the ground that during the resolution process under the Insolvency and Bankruptcy Code, 2016 at the National Company Law Tribunal, Hyderabad, its resolution plan was not considered. (ET).
Laurus Labs Ltd has completed the US Food and Drug Administration (USFDA) inspection of its Unit – 2 (FDF&API integrated facility), located at APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh with two observations. (BL).
Leading multiplex chain PVR Cinemas marked its international foray by launching its first property in Sri Lanka on Friday. The multiplex chain said that it has opened a 9-screen property at Colombo in collaboration with the Shangri La Group. (ET).
The telecom department has directed all circle heads to treat Bharti Airtel and Tata Teleservices as separate entities, as it is in process to challenge their merger in the Supreme Court, according to an official source. The Department of Telecom has also asked all its entities to deal customer acquisition process and all compliance related issues of both the companies as separate companies. (BS).
Reliance Industries has cut by about 7 per cent the minimum price it is seeking for the natural gas it plans to produce from newer fields in the Bay of Bengal KG-D6 block after key customers such as fertiliser plants protested over the high base price, sources said. Reliance and its partner BP Plc of the UK is in the market seeking bids from potential users for the 5 million standard cubic metres per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from mid-2020. (ET).
Pharma major Lupin Limited (Lupin) announced that it has received approval for its Zileuton Extended-Release Tablets, 600 mg, from the United States Food and Drug Administration (U.S. FDA), to market a generic equivalent of Zyflo CR Extended-Release Tablets, 600 mg, of Chiesi USA, Inc. Lupin’s Zileuton Extended-Release Tablets, 600 mg are indicated for prophylaxis and chronic treatment of asthma in adults and children 12 years of age and older. (ET).
Quarterly Earnings
Sobha Ltd posted 9.12 per cent higher profit of Rs.67 crore on consolidated basis for the second quarter of the current fiscal against Rs.61.4 crore in the same period last year. The company’s income rose 18.87 per cent to Rs.803.8 crore (Rs.676.2 crore). EPS for the quarter stood at Rs.7.07 compared with Rs.6.47 last year. (BL).
Amara Raja Batteries Limited has registered a big jump in its profit for the second quarter ended September 30, 2019 of Rs 218.85 crore as against a profit of Rs 120.23 crore for the corresponding quarter in previous financial year. The batteries major reported a revenue of Rs 1695.31 crore in Q2 FY 20 as against Rs 1753.05 crores, registering a de-growth of 3 per cent. (BS).
Tamil Nadu Newsprint and Papers Ltd (TNPL) reported a significant increase in its net profit at Rs 22 crore for the quarter ended September 30, 2019 when compared with Rs 7 crore in the year-ago period, aided by lower expenses despite a fall in revenues. The company’s profit before exceptional items and tax stood at Rs 33 crore as against Rs10 crore. The total revenue of the company fell to Rs 784 crore when compared with Rs1014 crore. (BL).
Greenply Industries reported a 50.8 % rise in its consolidated net profit of Rs 26.4 crore in the second-quarter (Q2) ended September 30, 2019. The company clocked a Rs 17.5 crore profit in the corresponding period previous year. Total consolidated income for the quarter under review grew by 4.6 % to Rs 380.4 crore from Rs 363.5 crore posted in the period ended September 30, 2018. (ET).
Shree Renuka Sugars on Sunday posted consolidated net profit of Rs 2,739.6 crore for the second quarter ended September 30. The sugar producer had reported a net loss of Rs 432.7 crore in the corresponding quarter previous fiscal. Sequentially, it had registered a loss of Rs 411.7 crore this fiscal. Total income was at Rs 1,413 crore during July-September of 2019-20, up from Rs 1,001 crore in same period of 2018-19, Shree Renuka said in a regulatory filing. (BL).
Hospitality chain Chalet Hotels has reported a profit after tax of Rs 10.3 crore for quarter two of financial year 2019 compared to a loss of Rs 12.5 crore in the same quarter of the previous year. Its revenue per available room increased by 2 per cent to Rs 5,802 as compared to Rs 5,672 for the same quarter last year. Revenues for mixed use commercial development were at Rs 31 crore compared to Rs 10.5 crore in the same quarter in FY19 with segmental profit margin before interest depreciation and tax at 72 per cent. (BL).
State-owned Oil India Ltd on Saturday reported a 27.2 per cent drop in its net profit at Rs 627.23 crore in the second quarter ended September 2019. The company had registered a net profit of Rs 862.01 crore in the corresponding period of the previous fiscal. Total income fell to Rs 3,481.52 crore during Q2 FY20 from Rs 4,031.41 crore in same period of FY19, Oil India said in a regulatory filing. (BL).
State-run power giant NTPC on Saturday posted around 38 per cent rise in its consolidated net profit at Rs 3,408.92 crore in the quarter to September 2019, driven by higher revenues. The company had reported Rs 2,477.28 crore consolidated net profit in the corresponding quarter a year ago. Total income rose to Rs 26,274.66 crore in the second quarter from Rs 23,566.65 crore a year ago, the company said in a BSE filing. (BS).
Cholamandalam Financial Holdings Ltd, formerly TI Financial Holdings Ltd, has clocked consolidated profit after tax at Rs 325.15 crore for the quarter ending September 30, 2019. The city-based Murugappa Group company had recorded a consolidated profit after tax at Rs 324.53 crore during corresponding quarter of previous year. For the six-month period ending September 30, 2019 consolidated profits after tax grew to Rs 655.17 crore from Rs 638.57 crore registered year ago. Total income for the quarter under review surged to Rs 3,340.64 crore from Rs 2,614.66 crore registered same period year ago. (ET).
Private sector Lakshmi Vilas Bank on Saturday reported a net loss at Rs 357.17 crore for the quarter ending September 30, 2019. The Tamil Nadu based bank had clocked net loss at Rs 132.30 crore during the year ago period. For the six month period ending September 30, net loss was at Rs 594.42 crore as against Rs 256.17 crore in the same period last year. Total income for the July-September quarter was at Rs 665.33 crore as against Rs 800.50 crore, the bank said in a press release. (BL).
Plywood maker Century Plyboards reported a 37.9 per cent increase in its net profit at Rs 52.14 crore in the second-quarter of the current fiscal 2019-20 compared with Rs 37.81 crore in the year-ago period. Net revenue from operations during the said period was up 4.4 per cent at Rs 589.35 from Rs 564.44 crore posted in the corresponding previous quarter. (BL).
FMCG major Nestle India on Friday reported 33.46 per cent rise in net profit at Rs 595.41 crore for the third quarter ended September 2019, on higher domestic sales growth and lower tax outgo. The company, which follows January-December as financial year, had posted a profit of Rs 446.11 crore in the year-ago period. Net sales were up 9.49 per cent to Rs 3,199.31 crore during the quarter under review as against Rs 2,921.99 crore in the same period of the previous fiscal. (BS).
Digital infrastructure provider Tata Communications on Friday posted manifold growth in its net profit to Rs 53.91 crore for the September 2019 quarter. This is against a net profit of Rs 1.65 crore in the July-September 2018 period, a statement said. The company's revenue increased 5 per cent to Rs 4,272.76 crore in the quarter under review from Rs 4,068.22 crore in the year-ago period, it added. (ET).
Improving asset quality and better margins helped the crippled IDBI Bank to marginally narrow its net losses at Rs 3,459 crore in the September quarter, even though the the lender chose to make accelerated provisions for stressed assets. The Life Insurance of Corporation-controlled bank, which has been under the prompt corrective action of the Reserve Bank for more than a year, had reported a net loss of Rs 3,602 crore in the year-ago period. The management attributed the losses to accelerated provisions to the tune of Rs 3,425 crore, helping it take the provision coverage ratio to 91.25 from 68.72 from a year ago. The management attributed the losses to "accelerated provisions to the tune of Rs 3,425 crore, helping it take the provision coverage ratio to 91.25 from 68.72 from a year ago. Tier 1 capital and CRAR stood at 9.52 percent and 11.98 percent, respectively. (BL).
State-owned Bank of Baroda on Friday reported a jump of 73.2 per cent in its net profit to Rs 736.68 crore in the second quarter ended September 30. The bank had posted a net profit of Rs 425.38 crore in the corresponding quarter of the previous fiscal. Its total income rose to Rs 22,097.91 crore for the second quarter of 2019-20, compared with Rs 13,429.95 crore a year ago, the bank said in a regulatory filing. The lender improved on its bad assets, with the gross non-performing assets (NPAs) coming down to 10.25 per cent (Rs 69,968.95 crore) of the gross advances by the end of September 2019, compared with 11.78 per cent (Rs 55,121.37 crore) in the year-ago period. Net NPAs fell to 3.91 per cent (Rs 24,894.38 crore) from 4.86 per cent (Rs 21,059.22 crore). However, the bank raised the provisions for bad loans and contingencies to Rs 4,209.16 crore for the quarter, from Rs 2,429.54 crore a year ago. (BS).
Hinduja Group flagship Ashok Leyland on Friday reported a 92.61 per cent decline in its net profit to Rs 39 crore for the second quarter ended September 30. The company had posted a net profit of Rs 528 crore in the July-September period of 2018-19. Its revenue stood at Rs 3,929 crore for the second quarter, down 48 per cent as compared with Rs 7,621 crore in the year-ago period, Ashok Leyland said in a regulatory filing. (ET).
Allahabad Bank on Friday reported widening of net loss to Rs 2,103.19 crore for the September quarter 2019-20 due to higher provision for bad loans. The state-owned lender had registered a loss of Rs 1,816.19 crore during the year-ago period, according to a regulatory filing. In the preceding June quarter, the bank clocked a profit of Rs 128 crore. Total income during July-September 2019 however rose to Rs 4,725.23 crore from Rs 4,492.23 crore in the same period last fiscal, the filing said. Net NPAs came down to 5.98 per cent (Rs 8,502.09 crore) from 7.96 per cent (Rs 11,082.74 crore) in the year-ago period, it said. The provisioning for bad loans spiked to Rs 2,721.97 crore in the second quarter, from Rs 1,991.88 crore in the year-ago period. (ET).
Eicher Motors on Friday posted 4.36 per cent increase in its consolidated net profit at Rs 572.69 crore for the second quarter ended September 30, 2019. The company, which sells motorcycles under the Royal Enfield brand, had reported a net profit of Rs 548.76 crore in the July-September period of 2018-19. Total revenue from operations, however, declined to Rs 2,192.47 crore for the second quarter as compared with Rs 2,408.17 crore in the same period of the previous fiscal, Eicher Motors said in a regulatory filing. (BL).
Mahindra and Mahindra Ltd on Friday reported a 26.5 per cent drop in quarterly net profit as the company struggled to sell cars, trucks and tractors amid a slowdown in Asia's third-largest economy. Unit sales at the maker of popular sports utility vehicles like Scorpio and Thar dropped 21 per cent for the quarter, with the industry facing issues of credit crunch, higher insurance costs and a shift towards ride-hailing services. Net profit after tax for Mahindra came in at 12.13 billion rupees ($170.36 million) for the quarter ended Sept. 30, compared with 16.49 billion rupees during the same period last year, the Mumbai-based company said. (BL).
Tyre major MRF on Friday reported 17.73 per cent decline in consolidated net profit at Rs 228.96 crore for the quarter ended September 30, 2019. The company had posted a profit of Rs 278.29 crore for the year-ago period, MRF said in a regulatory filing. Revenue from operations stood at Rs 4,007.63 crore as against Rs 3,946.77 crore in the same period a year ago, a growth of 1.57 per cent. The company's board has declared an interim dividend of Rs 3 per equity share for the financial year ending March 31, 2020. The board has also approved raising of up to Rs 102 crore by way of issuance of non-convertible debentures on private placement basis in one or more tranches. (BS).
Auto components major Bharat Forge on Friday reported 18.72 per cent decline in consolidated net profit at Rs 205.48 crore in the second quarter ended September 30. The company had posted a consolidated net profit of Rs 252.8 crore in the same period last fiscal, Bharat Forge said in a regulatory filing. Revenue from operations during the period under review stood at Rs 2,155.2 crore as against Rs 2,597.27 crore in the year-ago quarter, down 17 per cent. The company said its board of directors, at its meeting held on Friday, has declared an interim dividend of Rs 1.50 per equity share of Rs 2. (BL).
Economy and Sector News
With the prices of onions soaring in many parts of the country due to crop damage, the central government has directed the State-owned MMTC to take steps to import 1 lakh tonnes of the bulb. In more news, India and sixteen other countries such as Brazil, Colombia, Argentina and the US have complained at the World Trade Organisation (WTO) against the EU decision to amend its policy on the maximum residue levels (MRLs) for a wide range of pesticides mainly used in the cultivation of citrus fruit and bananas. (BL).
Global rating agency Moody’s has announced changing the outlook on India’s economy to ‘Negative’ from ‘Stable.’ However, it has affirmed the sovereign rating of ‘Baa2.’ The change in outlook means that an upgrade in ratings in near future is unlikely. In more news, Sarvesh Mathur, the main whistle-blower in the case against Pricewaterhouse Coopers (PwC) India, has told the Enforcement Directorate (ED) that an incomplete investigation against the accounting firm could cause Rs.3,100- crore loss to the state exchequer. (ET).
India Yamaha Motor (IYM) on Friday launched BS-VI compliant variants of FZ-FI and FZS-FI bikes, priced between Rs 99,200 and Rs 1.02 lakh (ex-showroom). The company will further announce the launch of other BS-VI compliant line-ups in coming time, IYM said in a statement. In more news, Indian drone maker ideaForge have partnered with EM3 Agriservices, to democratise precision agriculture which could benefit Indian farmers. (BL).
Digital payments company MobiKwik has witnessed strong growth in its lending business and aims to disburse loans worth Rs 1,500 crore in FY2020 through its platform. The company, which competes with the likes of Paytm in the fintech space, has already disbursed over one lakh "digital loans" in September this year. In more news, Thermal coal imports declined by 17.69 per cent to 51.10 million tonnes at the country's top 12 major ports during April-October this fiscal, latest Indian Ports Association report has said. The Centre-owned ports had handled 62.08 MT of the thermal coal in the same period previous year. The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation from previous year" in thermal coal handling was at 17.69 per cent. As far as coking and other coal is concerned, its handling recorded a rise of 6.88 per cent at 33.43 MT during the seven months period. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets

DJIA and NASDAQ Composite

US markets closed on a somewhat mixed note on Friday following a record close for the Dow Jones in the previous session, as Donald Trump said no agreement had been struck to roll back tariffs on China. The Dow Jones Index closed at 27,681, up 6.44 points by 0.02%. The Standard & Poors 500 index closed at 3,093, up 7.90 points by 0.26%. The Nasdaq Composite Index closed at 8,475, up 40.80 points by 0.48%.

FTSE 100

UK markets had sunk deeper into the red by the close on Friday, as optimism over a trade deal between the US and China continued to fade. The FTSE 100 index closed at 7,359, down 47.03 points by 0.63%.

Global Indices
08/11/2019 Clsg Chg%
Dow Jones 27,681 +0.02
NASDAQ 8,475 +0.48
FTSE 100 7,359 -0.63
Bovespa 107,629 -1.78
11/11/2019 Latest
(4:40AM IST)
Nikkei 23,391 +0.26
Hang Seng 27,651 -0.70


Asian shares started trading early in the morning on Monday on a positive note as investors will be watching the US markets very closely. Nikkei is currently trading at 23,381, up 61.55 points by 0.26%.

Precious Metals

Gold futures settled with a loss on Friday, at their lowest in more than three months and posted their biggest weekly percentage decline since May 2017.

Base Metals

The three-month nickel price on the London Metal Exchange staged a modest recovery at the close of trading on Friday November 8, settling back above nearby resistance after slipping below key resistance levels, while tin futures topped the gains with a 1% climb.

Crude Oil

Oil futures gave up earlier losses Friday to score a weekly rise, with U.S. prices settling at a fresh six-week high, as traders gauged expectations for energy demand against conflicting news tied to China-U.S. trade talks.


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