10:59 am Sical Logistics gains: Shares of Sical Logistics were higher by 6 percent intraday on Wednesday as investors cheered an order win.
The company received a letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs 289 crore for 3 years
“The activity may be carried out by deploying surface miners on a hiring basis, mechanical transfer of the same by pay loaders into tipping trucks and transportation from surface miner face to different destinations at Bharatpur,” the company told the exchanges.
10:55 am Buzzing Stock: Unichem Laboratories shares surged 7 percent intraday Wednesday after its Ghaziabad facility received establishment inspection report from the US health regulator.
This receipt indicates the successful closure of the inspection and the queries raised during the audit (Form 483), the company said in its filing to exchanges.
The inspection of formulations manufacturing facility by US Food and Drug Administration was carried out between February 24 and March 3, 2017.
10:45 am FII View: The Indian market is rallying on optimism, which makes finding value stocks with reasonable valuations is a little difficult, but the long-term trend still remains to be on the upside, Arvind Sanger, Managing Partner, Geosphere Capital said in an interview with CNBC-TV18 on the sidelines of Morgan Stanley Investor Summit.
The Nifty which made a fresh record high this week is on track to hit 11,000 in the next 12-18 months backed by the earnings growth of 15 percent in FY18 and stable macro fundamentals, said Sanger.
Another factor which supports the optimism is a stable political environment. Although India will go to polls in the year 2019, investors are comfortable that political uncertainty looks much less.
10:30 am Pharma check: Here's a look at the performance of the Nifty Pharma index.
10:15 am Goldman on ICICI: Goldman Sachs maintains a buy rating on ICICI Bank but raised its 12-month target price from Rs 320 earlier to Rs 372, which translates into an upside of 17 percent from current levels.
Since March quarter earnings, ICICI Bank has outpaced Bank Nifty by 13 ppt on lower NPL creation and a healthy operating performance.
“We believe ICICI Bank still trades at undemanding valuations and could rerate higher on: (1) moderating asset quality concerns; (2) strengthening of retail liability and asset franchise; and (3) improving returns ratio in FY19E-20E,” said the Goldman Sachs note.
The largest private sector bank will also benefit from a secular story of shifting household savings from deposits to insurance and mutual funds through its subs.
The company received a letter of acceptance by Mahanadi Coal Fields for extraction, order value Rs 289 crore for 3 years
“The activity may be carried out by deploying surface miners on a hiring basis, mechanical transfer of the same by pay loaders into tipping trucks and transportation from surface miner face to different destinations at Bharatpur,” the company told the exchanges.
10:55 am Buzzing Stock: Unichem Laboratories shares surged 7 percent intraday Wednesday after its Ghaziabad facility received establishment inspection report from the US health regulator.
This receipt indicates the successful closure of the inspection and the queries raised during the audit (Form 483), the company said in its filing to exchanges.
The inspection of formulations manufacturing facility by US Food and Drug Administration was carried out between February 24 and March 3, 2017.
10:45 am FII View: The Indian market is rallying on optimism, which makes finding value stocks with reasonable valuations is a little difficult, but the long-term trend still remains to be on the upside, Arvind Sanger, Managing Partner, Geosphere Capital said in an interview with CNBC-TV18 on the sidelines of Morgan Stanley Investor Summit.
The Nifty which made a fresh record high this week is on track to hit 11,000 in the next 12-18 months backed by the earnings growth of 15 percent in FY18 and stable macro fundamentals, said Sanger.
Another factor which supports the optimism is a stable political environment. Although India will go to polls in the year 2019, investors are comfortable that political uncertainty looks much less.
10:30 am Pharma check: Here's a look at the performance of the Nifty Pharma index.
10:15 am Goldman on ICICI: Goldman Sachs maintains a buy rating on ICICI Bank but raised its 12-month target price from Rs 320 earlier to Rs 372, which translates into an upside of 17 percent from current levels.
Since March quarter earnings, ICICI Bank has outpaced Bank Nifty by 13 ppt on lower NPL creation and a healthy operating performance.
“We believe ICICI Bank still trades at undemanding valuations and could rerate higher on: (1) moderating asset quality concerns; (2) strengthening of retail liability and asset franchise; and (3) improving returns ratio in FY19E-20E,” said the Goldman Sachs note.
The largest private sector bank will also benefit from a secular story of shifting household savings from deposits to insurance and mutual funds through its subs.
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