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March auto sales may be mixed amid high inventory, but these 2 stocks remain brokerages top picks

Automobile sales in March are expected to be mixed for the sixth consecutive month, citing high inventories, rising ownership cost and deferred purchases during general elections, brokerages said.

Passenger vehicles and two-wheeler sales are expected to be a mixed bag, while the commercial vehicle segment is expected to register weak growth during the month.

In a recent report, Emkay said channel checks indicate rising ownership cost, deferred purchases during elections and selective financing by non-banking financial companies (NBFCs) are constraining volume performance across the automotive segments in the near term.

In the last one year, the sector has been worst performer, with the Nifty Auto index falling nearly 24 percent, amid a liquidity crisis and weak festive season. In March itself, the index was down 1.5 percent as against a seven percent rally in the Nifty.

Motherson Sumi Systems (down 10 percent), Hero MotoCorp (4 percent), Tata Motors (4 percent), Bharat Forge (3.6 percent) and Maruti Suzuki (3.4 percent) were top losers during the month.

Emkay forecasts mixed domestic volumes in March, with growth in passenger vehicles but muted showing in other segments.

Motilal Oswal too expects the same. "While demand for passenger vehicles is partially supported by new launches, the same for commercial vehicle has been declining over the past two months due to weak demand from major end-user segments."

Passenger vehicles

Emkay said passenger vehicle volumes are expected to be positive in the domestic market, with nine and four percent growth for Mahindra & Mahindra and Tata Motors, respectively.

But Maruti Suzuki, the largest car maker, is expected to post a 11.5 percent year-on-year decline in total despatches in March due to weak demand trends in the key western, central and northern markets such as Maharashtra, Gujarat, Delhi and Madhya Pradesh, leading to continued high inventory levels, Motilal Oswal said, adding that dealer inventory stands at 45-60 days.

Two-wheelers

Sales in the two-wheeler segment are expected to be a mixed bag, with declines in Eicher Motors and Hero MotoCorp and growth seen in Bajaj Auto.

Emkay expects Eicher Motors and Hero MotoCorp to report a 12 percent and six percent decline in sales, while Bajaj Auto will post a 16 percent growth YoY.

The research house said competitive intensity has increased as a result of free insurance schemes by Hero MotoCorp and Bajaj Auto.

Dealer inventory days have significantly increased over the past few months and have reached historically high levels. Hero MotoCorp has the highest dealer inventory days at around three months, followed by two months for Bajaj Auto and TVS Motor Company, and one month for Royal Enfield.

After the gloom in January and February, Motilal Oswal said key channel partners are indicating weak retail sales across key markets in March too.

Source:https://www.moneycontrol.com/news/business/markets/march-auto-sales-may-be-mixed-amid-high-inventory-but-these-2-stocks-remain-brokerages-top-picks-3725911.html

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What makes this smallcap a good value buy?

Himatsingka Seide (HSL), one of India’s largest home textile majors and exporters, draws our attention on account of improving business fundamentals. Conclusion of capex cycle by H1 FY20, higher contribution from branded products, an uptick in utilisation rates and undemanding valuations make us bullish on the stock.

Q3 review

Positives

- Sales grew on the back of higher contribution from branded products (84 percent of Q3 sales)

- Gross and operating margins expanded noticeably because of a good product mix and full benefits of captive consumption (ie. yarn being utilised to manufacture bed sheets)

Negatives

- Forex losses resulted in other income declining sharply year-on-year (YoY)

- Depreciation and interest costs rose significantly YoY due to investments in the terry towel plant

- Tax rate increased marginally YoY

- The above factors led to a marginal reduction in PAT (profit after tax) margins

Why consider investing?

Capex intensity is waning

By September 2019, HSL’s terry towel facility is likely to be set up. Post this, barring regular maintenance capital expenditure, there is no big expansion plan.

Depreciation and financing charges, that rose noticeably in the past 4 quarters due to investments in the terry towel project, are likely to reduce from H2 FY20 onwards. This is because impetus will be laid on debt repayment. Consequently, bottom-line margins, working capital cycle and cash flows should improve.

Utilisation rates are likely to go up

In Q3 FY17, HSL expanded its bed sheet manufacturing capacity from 23 mmpa (million metres per annum) to 46 mmpa. Utilisation levels in respect of both (ie. original and new capacity) are stable at the moment. As the company’s order book (particularly for branded products) grows, there will be a corresponding uptick in manufacturing activities. This, in turn, should help achieve operating leverage.

Debottlenecking of bed sheet manufacturing capacity has been concluded in Q3 FY19, thereby resulting in an increase in capacity to the tune of 15 mmpa. This new capacity will be utilised for manufacturing products that yield lower realisations, implying that sales growth, to this extent, will be volume-driven.

Once the terry towel facility becomes operational, utilisation levels should start moving up too.

Sale of branded products on an uptrend

In 9M FY19, brands constituted about 85.6 percent of the top-line as against 71 percent in FY18. HSL’s own brands are making their presence felt in the financials.

HSL will complete integration of manufacturing processes of the Tommy Hilfiger brand by Q4 FY19-end.

Rights to sell ‘Calvin Klein Home’ products globally have been acquired. Previously, HSL could sell products only in North America.

Since branded products, especially own brands and fashion bedding variants, command better realisations vis-a-vis their unbranded counterparts, HSL’s margins should start moving up gradually.

Risks

To mitigate risks associated with regional concentration, HSL is exploring markets in Europe and Asia. Nevertheless, at the moment, the US market alone comprises nearly 85-90 percent of HSL’s annual top-line. Therefore, Trump’s actions of withdrawing the preferential trade treatment granted to Indian exporters may affect the company’s future revenue visibility.

Indian Rupee’s appreciation vis-à-vis the US dollar would impact product realisations to the extent of unhedged cash flows. Raw material (cotton) costs are not showing any signs of moderation as of now.

Competitive pressure from nations such as Pakistan, Vietnam and Bangladesh continues to persist.

Signs of consumption slowdown in international markets can hit the order book.

Outlook

HSL’s stock price has been on a downward spiral during the course of the last 12 months. This is primarily on account of market volatility and YoY dip in PAT (profit after tax) margins since the last 3 quarters.

After a sharp 47 percent correction from its 52-week high, the stock trades at an undemanding 6.7 times its FY21 projected earnings. This makes it a good value buy.

However, it is pertinent to note that any meaningful re-rating in HSL’s valuation multiples may be seen only from H2 FY20.

Source:https://www.moneycontrol.com/news/business/moneycontrol-research/ideas-for-profit-what-makes-this-smallcap-a-good-value-buy-3724171.html

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Closing bell: Sensex jumps 424 pts, Nifty ends tad below 11,500; RIL, banks lead

Market Closing

Benchmark indices rebounded sharply after falling in previous two straight sessions, driven by banking & financials, and index heavyweight Reliance Industries.

The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.

The Nifty Midcap index also gained over a percent but the market breadth was not so great.

About 1,377 shares advanced against 1,286 declining shares on the BSE.

NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-jumps-424-pts-nifty-ends-tad-below-11500-ril-banks-lead-3700331.html

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Larsen & Toubro gains after hydrocarbon engineering division bags order

Larsen & Toubro shares gained nearly a percent in the morning trade on March 26 after its hydrocarbon engineering division bagged an order in Oman.

The stock was quoting at Rs 1,381.75, up Rs 4.55, or 0.33 percent on the BSE, at 1012 hours IST.

"The wholly-owned subsidiary L&T Hydrocarbon Engineering Limited has won a large order from Tawfiq Coke Products-Oman," the engineering and construction major said in its exchange filing.

The contract scope includes the selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke.

"This award will further reinforce L&T's operations in Oman and provide an opportunity to contribute to the expansion of industrial facilities in Sohar," the company said.

Source:https://www.moneycontrol.com/news/business/markets/larsen-toubro-gains-after-hydrocarbon-engineering-division-bags-order-3700871.html

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Sensex marginally higher, Nifty inches towards 11,400; Jet Airways rallies 7%

Market Opening:

Benchmark indices opened marginally higher after a selling pressure seen in previous two consecutive sessions.

The BSE Sensex rose 51.28 points to 37,860.19 and the Nifty50 gained 31.90 points at 11,386.20.

Indiabulls Housing, Zee Entertainment, Eicher Motors, GAIL, Adani Ports, Bharti Infratel and Reliance Industries were early gainers.

Infosys, TCS, Tech Mahindra, HCL Technologies, JSW Steel and Power Grid were under pressure.

Nifty Midcap index was up 0.5 percent.

Jet Airways rallied 7 percent after Naresh Goyal and his wife stepped down from board.

Kalpataru Power Transmission gained 4 percent.

ICICI Prudential Life lost 2.5 percent.

Rupee Opening

The Indian rupee opened higher at 68.88 against the US dollar on March 26, 2019.

It appreciated by 5 paise compared to Monday's close of 68.93 to the dollar.

"The rupee ended mildly higher, on March 25, recovering from its intraday lows of 69.17. RBI three-year dollar-rupee swap auction will be held today. The move in the rupee will be keenly watched ahead of RBI’s monetary policy meeting next week," ICICI Securities said.

The brokerage further said the slump in US yields could cap the dollar's ability to appreciate sharply.

Investors continue to await the US-China trade talks outcome while ongoing Brexit uncertainty is also weighing on risk sentiments, it added.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-marginally-higher-nifty-inches-towards-11400-jet-airways-rallies-7-3700331.html

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Nifty forms bearish candle; consolidation likely but 11,383 crucial for bulls

The Nifty50 took a breather on March 14 and closed flat after witnessing a rally in previous three consecutive sessions. The broader markets also barely changed against its previous close.

The index remained in a range of 30 points for major part of the session and formed bearish candle on the daily charts as closing is way below its opening price.

Considering breather after a three-day rally indicates that there could be some more consolidation in the coming session, but the major downside is unlikely, experts said, adding 11,383 is crucial level for bulls.

The Nifty50 after positive opening at 11,382.50 traded higher for nearly one hour and hit an intraday high of 11,383.45 after RBI's latest statement on liquidity infusion in the system. But the index failed to sustain those gains and hit a day's low of 11,313.75. The index remained rangebound for major part of the session and closed at 11,343.30, up 1.60 points.

"Nifty50 registered a bearish candle on intraday charts, suggesting that market hit a pause mode for time being," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in told Moneycontrol.

He said, in next trading session if Nifty slips below 11,313 then it shall attract further selling pressure for the day which may then hint at a short term top around March 14 high of 11,383. In such a scenario initial target shall be in the zone of 11,227–11,180, he added.

As twin momentum oscillators, which usually have higher accuracy in catching short term turning points are on sell mode, he advised traders to refrain from maintaining or creating fresh long positions at this juncture.

India VIX moved down by 0.98 percent to 15.12. VIX has been hovering near to 15 but it has recently declined from higher zones which is supporting the overall bullish stance, experts said, adding option band signifies a shift in higher trading range in between 11,150 to 11,450 zones.

On Option front, maximum Put open interest (OI) is at 11,000 followed by 11,200 strike while maximum Call OI is at 11,500 followed by 11,400 strike.

Put writing is at 11,300 followed by 11,200 strike while Call writing is at 11,400 followed by 11,500 strike.

"On immediate basis Nifty index has to continue to hold above 11,280 to extend its upmove towards 11,400-11,450 while on the downside support exists at 11,280 then 11,222," Chandan Taparia, Associate Vice President | Analyst-Derivatives at Motilal Oswal Financial Services said.

Bank Nifty opened positive and hit a fresh life-time high of 29,070, however, it failed to hold above 29,000 and slipped marginally towards 28,800. It later recovered from lower levels but formed a bearish candle on the daily scale. The index closed 38.80 points higher at 28,923.10.

"Now it has to continue to hold above 28,688 to extend its momentum towards new life-time high of 29,000 then 29,250 while on the downside major support exists at 28,500 then 28,388," Chandan Taparia said.

Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bearish-candle-consolidation-likely-but-11383-crucial-for-bulls-3647341.html

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Investor wealth up Rs 8 lk cr in March as FII inflows get a boost, Street expects Modi return

The benchmark index, S&P BSE Sensex, fell for nine consecutive days last month from February 7 to 19. Given the somber sentiment on the Street at that time, no one could have thought that the index would rally 2,248 points in the next 14 sessions.

Thanks to the strong rally in past few sessions, the market capitalisation (m-cap) of BSE-listed companies rose by Rs 12 lakh crore as on March 12 to Rs 148.20 lakh crore from Rs 136.24 lakh crore as recorded on February 19 when the index made a bottom of 35,287.

In March alone, m-cap of BSE-listed companies has risen by Rs 7.79 lakh crore.

Both Sensex and Nifty have risen above their crucial resistance levels to hit 6-month highs, thanks to liquidity push from foreign institutional investors (FIIs), and expectations of Modi 2.0 in the upcoming Lok Sabha elections to be held from April 11 to May 19.

“Before the Pulwama attack, there was uncertainty about the formation of next government. The way government has handled the situation increased the probability of BJP coming back to power,” Rusmik Oza, Head of Fundamental Research, Kotak Securities told Moneycontrol.

“Market is sensing a BJP victory after the Pulwama event and developments that have taken place since then. In the last three months, activity in emerging markets has improved with improved flows,” he said.

One big factor that is pushing the market higher is massive liquidity push seen from foreign institutional investors (FIIs) so far in March and February. FIIs have poured a little over Rs 10,000 crore in Indian equities till March 12.

FPIs were net buyers (equity and debt) in February as well as January 2019 for Rs 13,564 crore and Rs 127 crore, respectively. Experts feel that with FII flows resuming and domestic investors getting comfortable with the political developments, a host of beaten-down largecaps, mid and smallcaps are doing catch-up now.

“FIIs are continuously buying quality names that we saw in recent block deals of Kotak Bank, Wipro, etc. With stability in INR and supportive macros and micros can expect similar or better flow in the near term,” Yogesh Mehta, VP, Retail Research, Motilal Oswal Securities told Moneycontrol.

“Lower inflation, lower interest rates, stronger rupee and stable crude prices are the support for India’s economy whereas global markets are worrisome over the growth slowing down, Brexit and tariff war between US and China, which indicates Indian markets are decoupled due to the election in the centre stage,” he said.

Mehta further added that the recent air strike in Balakot has increased the popularity of Modi and markets have started projecting better performance of the ruling party in the coming election.

Source:https://www.moneycontrol.com/news/business/markets/investor-wealth-up-rs-8-lk-cr-in-march-as-fii-inflows-get-a-boost-street-expects-modi-return-3636791.html

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Nifty forms bullish candle for second day in a row, profit booking likely

The Nifty50 after strong opening continued its run throughout the session and closed at highest levels in last six months on Tuesday. Strong global cues and FII flow lifted sentiment.

The index closed above 11,300 levels and formed bullish candle on the daily charts for second consecutive session.

The index has managed to cross 11,118 and 11,180 zones in last two sessions and supports are gradually shifting higher with the higher pace of buying momentum, but as it entered into overbought zone, there could be some profit booking in coming sessions, experts said.

The Nifty50 after opening sharply higher at 11,231.35 gained more strength as the day progressed and hit an intraday high of 11,320.40. The index closed 133.20 points or 1.19 percent higher at 11,301.20, the highest level since September 17, 2018.

"Nifty50 registered yet another day of gap up opening with strong bullish candle for second session in a row to continue its march towards northern direction as it cleared near term critical hurdles one after the other. Once a consolidation breakout happens it becomes quite natural to register this kind of sustainable upswings for couple of sessions," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said, however, as Nifty50 is nearing its logical resistance levels on the back of strong rally it may undergo some profit booking as it nears 11,400 levels.

Besides, this sharp upmove appears to have brought the indices into overbought zone on lower time frame charts making a case for some cooling off in the near term, he added.

On the down sides, Tuesday's gap zone of 11,227–11,180 can be considered as critical support going forward below which short term trend shall come under pressure, according to Mazhar.

For the time being, he advised traders to consider booking profits as Nifty heads towards 11,400 levels.

India VIX closed higher after the declines of last seven trading sessions. It was moved up by 1.33 percent to 15.09 levels.

On Option front, maximum Put open interest (OI) is at 11,000 followed by 10,700 strike while maximum Call OI is at 11,400 followed by 11,500 strike.

Meaningful Put writing is at 11,200 followed by 11,300 strike while Call unwinding is at all the immediate strikes with minor Call writing at 11,350 strike.

Experts said Option band signifies a shift in higher trading range in between 11,150 to 11,450 zones.

"Nifty index surpassed its resistance trend line of the sideways channel and closed above the same with the formation of bullish candle on daily scale which indicates bullish bias. Now it has to continue to hold above 11,200 zone to extend its gains towards 11,400-11,450 zones," Chandan Taparia, Associate Vice President | Analyst-Derivatives at Motilal Oswal Financial Services said.

Overall setup and momentum is positive and a follow up could continue its extended momentum while immediate support exists at 11,200 then 11,118 zones, he added.

Bank Nifty rallied by more than 450 points and made a new life-time high towards 28,488 mark by crossing previous high of 28,388 zones.

It closed at 28,443.70, up 477.05 points and formed a bullish candle on daily scale which indicates that bulls are holding tight grip in the market with fresh breakout.

"Now it has to continue to hold above 28,150 zones to extend its momentum towards new life time high of 28,750-28,800 zones while on the downside major support exists at 28,000 then 27,750 levels," Chandan said.

Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-bullish-candle-for-second-day-in-a-row-profit-booking-likely-3637471.html


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Maruti Suzuki dips 1% after Kotak downgrades, cuts price target

Maruti Suzuki India shares fell a percent intraday on Friday after Kotak Institutional Equities downgraded its rating on the stock to add from buy earlier.

The research house also slashed price target to Rs 7,500 from Rs 7,600 apiece after cut in earnings per share estimates.

The stock was quoting at Rs 6,978.50, down Rs 52.15, or 0.74 percent on the BSE, at 15:10 hours IST.

The brokerage house said the domestic passenger vehicle (PV) industry is likely to grow in low single digit (6 percent CAGR over the next two years) due to increase in costs related to stricter safety and emission regulations.

"While Maruti is better-placed and will gain market share, we cut EPS estimates by 4-9 percent for FY2019-21 mainly driven by cut in volume estimates (lower industry growth assumptions) and EBITDA margin forecasts (factoring in lower operating leverage and higher costs related to safety regulations in entry-level models), it added.

The brokerage expects Maruti Suzuki to increase its market share in the passenger vehicle industry in India by 290 bps over FY2019-23 led by a shift in consumer preference towards petrol vehicles against diesel, especially in compact SUV and compact car segments.

Source:https://www.moneycontrol.com/news/business/markets/maruti-suzuki-dips-1-after-kotak-downgrades-cuts-price-target-3624881.html

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Closing Bell: Nifty ends flat, Sensex up 89 points; L&T, Axis Bank top gainers

Market at close: Benchmark indices ended higher for the fourth consecutive day with Nifty closed around 11,050 level.

The Sensex was up 89.32 points at 36725.42, while Nifty was up 5.20 points at 11058.20. About 1287 shares have advanced, 1349 shares declined, and 159 shares are unchanged.

L&T, M&M, Axis Bank, ITC and Power Grid Corp were the top gainers on the Nifty, while losers include Wipro, IOC, Coal India, Zee Entertainment and Sun Pharma.

Among the sectoral indices, IT, metal, auto and pharma witnessed selling pressure, while some buying was seen in the bank, FMCG and infra sectors.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-flat-sensex-up-89-points-lt-axis-bank-top-gainers-3616981.html

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Aluminium futures slip 0.31% on muted demand

Aluminium prices fell 0.31 percent to Rs 145.20 per kg in futures trade on Wednesday as speculators cut down their positions, taking negative cues from the spot market on muted demand.

At the Multi Commodity Exchange, aluminium for delivery in March declined by 45 paise, or 0.31 percent, to Rs 145.20 per kg in a business turnover of 2,284 lots.

Likewise, the metal for delivery in April fell by 60 paise, or 0.41 percent, to Rs 145.35 per kg in 137 lots.

Analysts said, cutting down of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.

Source:https://www.moneycontrol.com/news/business/markets/aluminium-futures-slip-0-31-on-muted-demand-3614381.html

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Oil falls on weak demand growth outlook; OPEC-led cuts support

Oil prices fell on Tuesday as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.30 per barrel at 0210 GMT, down 29 cents, or 0.5 percent, from their last settlement.

Brent crude futures were at $65.36 per barrel, down 31 cents, or 0.5 percent.

"Near term ... it is hard to get very bullish on oil prices. The market is still working off the surpluses built in H2 2018, keeping OECD commercial inventories stuck above the five-year average," said energy analysts at economic research firm TS Lombard.

And despite optimism that the United States and China will soon end their bitter trade disputes, oil demand growth has been slowing along with an economic slowdown especially in Europe and Asia.

Meanwhile, fuel efficiency is improving, denting demand growth.

"2018 was the weakest (refined product) demand growth year since 2011," Bank of America Merrill Lynch said in a note.

To prop up the market, the Organization of the Petroleum Exporting Countries (OPEC) has led efforts since the start of the year to withhold around 1.2 million barrels per day (bpd) of supply.

The group was due to decide in April whether to continue withholding supply, but OPEC sources said this week a decision would likely be delayed until June, meaning cuts will continue at least until then.

The OPEC-led supply cuts, as well as U.S. sanctions against its members Iran and Venezuela, come at the same time as U.S. crude output chases ever new records, rising by more than 2 million barrels per day (bpd) since early 2018 and above 12 million bpd for the first time in February.

The cuts to OPEC supply have pushed up the Brent international crude price benchmark due to a shortage of the heavy crudes that OPEC mostly produces. At the same time, the surge in U.S. output is weighing down U.S. WTI prices as there is ample supply of America's mainly light crudes.

Because of this, energy researchers at TS Lombard said "the Brent-WTI spread can be expected to stay wide."

WTI's front-month price spread to Brent has declined from near parity in 2016 to an average discount of $8.50 per barrel since the start of 2019.

During the same time, U.S. crude output has risen by almost 3 million bpd.

Source:https://www.moneycontrol.com/news/business/markets/oil-falls-on-weak-demand-growth-outlook-opec-led-cuts-support-3607431.html

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February keeps up box office momentum in 2019 with business of over Rs 300 crore

While January set the pace for Bollywood in 2019 with collections in the range of Rs 300- Rs 350 crore, February is maintaining the momentum with revenues to the tune of Rs 310 crore. And this is despite no holiday advantage and an added pressure of school examinations.

The month saw films like multi-starrer comedy flick Total Dhamaal and musical drama Gully Boy scoring high at the box office. For the Ranveer Singh-starrer Valentine's Day boosted the film's growth with the film having all the ingredients to attract the young audience.

On the day of love the film grabbed as much as Rs 19.40 crore which is close to 20 percent of the film's week one total. The right content at the right time helped Gully Boy enter the Rs 100 crore club in eight days.

On the other hand, the third installment in the Total Dhamaal franchise clicked with the family audience and managed Rs 99.30 crore in its first week.

Film trade experts are confident that Total Dhamaal will cross Rs 100 on day nine. Its overseas total also stands strong with a business of Rs 30.95 crore in seven days of its release.

While the film faced strong competition from the new release Luka Chuppistarring Kartik Aaryan and Kriti Sanon on day eight, it is still gathering steam.

Looking at Total Dhamaal's solid hold in theatres, film trade analyst Taran Adarsh said that contribution from mass pockets and single screens should not be overlooked and more movies that hold pan-India appeal should be made to expect ache din for trade.

With Total Dhamaal maintaining its rhythm and Luka Chuppi packing up strong revenues, it looks like the genre of comedy will keep the entertainment quotient high even in the month of March.

The other two releases during this month Amavas and Ek Ladki ko Dekha toh Aisa Laga did not contribute much to the overall collections as the former added only Rs 2.85 crore and the latter earned Rs 20 crore.  

But the month had something interesting to celebrate and that was Uri: The Surgical Strike trending even in its seventh week. The spillover effect of Uri added around Rs 66 crore to the grand total and the film yet shows no signs of slowing down despite competition from new releases and holdovers.

Down south a handful of films kept the audience entertained. Out of 10 releases from Tamil and Telugu industries together, RJ Balaji-starrer LKG made waves at the box office.

Reports estimate the film’s collection from the Tamil Nadu market at around Rs 10 crore and worldwide numbers at Rs 16 crore. LKG opened in theatres on February 22.

Telugu film NTR Mahanayakudu despite receiving positive reviews from critics could not hold strong at the box office. Its business in Andhra Pradesh and Telangana market remained disappointing as it could gather Rs 304 lakh by the end of four days of its theatrical run in the two territories.  

As for Hollywood, February saw some decent business coming from James Cameron’s Alita: The Battle Angelthat minted over Rs 8 crore total in India. However, it will be Captain Marvel that will up the interest amid the fan-base for Hollywood films in India.

Source:

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Closing bell: Nifty snaps 3-day fall, Sensex gains 196 pts; Midcap, Smallcap indices outshine

The market snapped its three-day losing streak and closed half a percent higher, but the broader markets staged smart show on strong breadth.

The 30-share BSE Sensex rallied 196.37 points to 36,063.81 and the Nifty50 gained 71 points at 10,863.50.

About three shares advanced for every share falling on the BSE.

IndusInd Bank, ICICI Bank, HDFC, L&T and Infosys were leading contributors while Bharti Airtel, Axis Bank, UPL and Bajaj Auto were under pressure.

Among broader space, TVS Motor Company, Jet Airways, NALCO, Union Bank, Vijaya Bank, SAIL, RCF, Wockhardt, Dish TV, Meghmani Organics and OBC rallied 4-11 percent.

Marico, Motherson Sumi and Havells India were under pressure.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-snaps-3-day-fall-sensex-gains-196-pts-midcap-smallcap-indices-outshine-3597211.html

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Closing Bell

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