Volatile but Midcap, Smallcap outperform;

 IT stocks fall Benchmark indices remained rangebound in morning with the Nifty hovering around 8250 level as all eyes are on quarterly earnings that will kick start this week with Infosys, TCS and IndusInd Bank. Benchmark indices were flat with a negative bias. The 30-share BSE Sensex was down 25.47 points to 26733.76 and the 50-share NSE Nifty fell 6.35 points to 8237.45. About 1314 shares advanced against 905 declining shares on the BSE.Economic growth outlook: 

The decline in gross domestic product (GDP) for the second half of the year is likely to be more stark than government estimates, says Tanvee Gupta Jain, India Economist Research at Macquarie Capital Securities. Macquarie estimates 6 percent growth against the 6.7 percent estimate by the CSO for the second half of the current financial year. The advance estimate for GDP for the fiscal year 2017 released on Friday shows India's growth is set to slow down to 7.1 percent in this financial year but this does not include the impact of demonetisation. Keeping in mind the uncertainty due to the cash crunch, Macquarie's gross value added (GVA) estimate for the current year is 6.6 percent and for GDP is 6.8 percent at market price. Macquarie is optimistic for financial year 2018 and estimates GVA at 7.4 percent and GDP at 7.5 percent. 1

 Hyderabad-based healthcare company Granules India shares plunged 13 percent intraday after the company received inspection report with 11 observations from Portugal regulator for Gagillapur facility. INFARMED (Instituto Nacional da Farmacia E Do Medicamento) Portugal had conducted a renewal inspection on the company's facility that manufactures pharmaceutical formulation intermediates & finished dosages The company said it had initiated steps to address observations of the inspection agency and will submit its response with a corrective and preventive action plan within stipulated time. Granules will also be requesting the INFARMED for re-inspection of Gagillapur facility at the earliest.stocks that analysts are watching out today

 Benchmark indices remained rangebound in morning with the Nifty hovering around 8250 level as all eyes are on quarterly earnings that will kick start this week with Infosys, TCS and IndusInd Bank. The 30-share BSE Sensex was down 19.82 points at 26739.41 and the 50-share NSE Nifty fell 4.85 points to 8238.95 while the broader markets outperformed benchmarks. The BSE Midcap and Smallcap indices gained 0.3 percent each on positive breadth. About two shares advanced for every share falling on the BSE. Technology stocks decline further after losing 3 percent last week after the re-introduction of H1B Visa Reform Bill in the US Congress. Infosys, Wipro, HCL Technologies and TCS were down 0.4-1 percent. Dr Reddy's Labs was the biggest loser among Sensex 30 stocks, down 2.5 percent followed by Tata Motors, Asian Paints and Mahindra & Mahindra while ITC, HDFC Bank, Adani Ports, Reliance Industries, SBI and Hero Motocorp continued to support the market.

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Nifty struggles below 8250; ONGC, 

India losers BHEL, Tata Motors, ITC, Maruti and Bajaj Auto are top gainers while Dr Reddy's, ONGC, Coal India, NTPC and are losers in the Sensex  may be witnessing selling from foreign institutional investors, but domestic institutional investors will continue to remain strong, says Hemant Kanawala, Head of Equity at Kotak Mahindra Life Insurance. So he expects no downside to the markets. Due to lack of any major triggers other than the Budget in the near-future, he does not see an upside to the market as well. Nifty, he feels, may continue range bound around 8,000 level. 

Although the GDP numbers may come out in late February, the impact will become apparent sooner as companies come out with their earnings, says Kanawala.  Valuation in the information technology sector is favourable but challenges in terms of earnings and uncertainty on Trump’s policies make them good picks only on bad days, says Nischal Maheshwari, Head - Institutional Equities at Edelweiss Securities. Maheshwari, however, feels risks in the pharmaceuticals sector may not be fully priced in. Most large cap companies have significantly scaled up businesses and are now struggling on compliance issues with US Food and Drug Administration, which could be a long-drawn pain, he says. He expects decent corporate earnings growth this quarter. Topline growth of around 9 percent is likely to be driven by metals and PSU banks, largely due to base effect more than return in growth, he says. Don't miss: Buy, sell, hold: 11 stocks that analysts are watching out today The market is still in red with the Sensex down 16.35 points at 26742.88.

 The Nifty is down 3.80 points at 8240. About 1486 shares have advanced, 1074 shares declined, and 400 shares are unchanged. BHEL, Tata Motors, ITC,  Maruti and Bajaj Auto are top gainers while Dr Reddy's, ONGC, Coal India, NTPC and M&M are losers in the Sensex. Investors are looking beyond the demonetisation impact now. There may be a lot of volatility and a hightened level of sensitivity, but in the long-term, the foreign institutional investors continue to remain positve on India, says the Chief Executive Officer of Deutsche Bank India, Ravneet Gill. Developed markets may no longer continue to outperform the emerging markets, says Gill. The rupee too, continues to perform better than other emerging market currencies, he adds. Current fiscal may see a Gross Domestic Product less than the pre-demonetisation estimates of 7.1 percent, says Pratik Gupta, Head, Equities of Deutsche Bank India who is expecting a strong recovery. The GDP is expected to grow 7.5 percent in financial year 2018.

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Sensex, Nifty, Midcap higher; Reliance, Tata Motors, ICICI lead

 Equity benchmarks as well as broader markets continued to hold early gains with the Sensex rising over 100 points, led by oil, banks and auto stock.Benchmark indices remained higher with the Sensex rising 126.57 points to 26853.12 and the Nifty climbing 35.80 points to 8271.85. About two shares advanced for every share falling on the. Fitch on Jubilant Pharma: Fitch Ratings says it expects Jubilant Pharma's credit profile to benefit from new long-term contracts for its radio pharma business with leading US distributors. Jubilant Pharma is a wholly-owned subsidiary of Jubilant Life

The contracts, which were signed by its wholly owned subsidiary, Jubilant DraxImage Inc., are effective for 39 months from January 2017 and involve nuclear pharmaceutical products used for various diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lung, kidney and bone scans. JPL's radio pharma business - a key constituent of its speciality pharma portfolio - has a good market position in the US with a niche product portfolio. The company has limited competition for many of its radio pharma products, which is reflected in the length of the supply contracts. Fitch believes the contracts' long tenure supports the company's earnings visibility and credit profile. Buzzing


Share price of Ajanta Pharma gained 2.5 percent intraday on USFDA approval for Duloxetine hydrochloride delayed release capsules. Duloxetine is an bioequivalet generic version of Cymbalta delayed release capsules and part of an ever growing portfolio of products that the company has developed for the US market. The company will launch the product shortly in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules. The company has 32 abbreviated new drug application (ANDA) of which it has 17 final ANDA approvals, 2 tentative approvals and 13 ANDAs under review with USFDA.  - 

Buy, sell, hold: 21 large & midcap stocks to boost portfolio  Equity benchmarks as well as broader markets continued to hold early gains with the Sensex rising over 100 points, led by oil, banks and auto stocks. The 30-share BSE Sensex was up 126.06 points at 26852.61 and the 50-share NSE Nifty rose 39.40 points to 8275.45 while the BSE Midcap and Smallcap indices gained half a percent each. The market breadth was positive as about two shares advanced for every share falling on the exchange. Surendra Goyal of Citi says the market is likely to be rangebound till some clarity emerges. He maintains September 2017 target of 30,000 on the Sensex. Reliance Industries, Tata Motors, ICICI Bank, ONGC, Adani Ports and Tata Steel gained more than 1 percent whereas Axis Bank, TCS, Sun Pharma and Bharti Airtel were moderately lower-family

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Sensex, Nifty maintain momentum;

 Bharti, Sun Pharma drag Tata Motors, Tata Steel, GAIL, Asian Paints and BHEL are top gainers while Axis Bank, Hero MotoCorp, Bahrti, Sun Pharma and Dr Reddy's are losers in the Sensex Direct tax compliance has been slowly rising in the country. With this gradual increase, the government is likely to provide income tax rebates, says S Naren, Chief Investment Officer of ICICI Prudential AMC. Market inflows in January 2017 has been much better compared to December 2016, says Nimesh Shah, Managing Directot and Chief Executive Officer at ICICI Prudential AMC.

 The market, although, has seen stable inflows since May 2014. He says flows will continue to remain stable in the domestic market. Naren likes the telecom space due to the current valuations for long-term. He also likes power industry, where he expects a 5-7 percent increase in power consumption in India every year. Earnings: Private sector lender IndusInd Bank 's third quarter (October-December) profit is seen rising 24 percent year-on-year to Rs 720.5 crore, according to average of estimates of analysts polled 

 Net interest income, the difference between interest earned and interest expended, is expected to increase 28.1 percent to Rs 1,502.6 crore in Q3FY17 compared with Rs 1,173 crore in same quarter last year. Key things to watch out for would be loan growth, net interest margin, non-performing assets and credit cost. Private sector lender IndusInd Bank 's third quarter (October-December) profit is seen rising 24 percent year-on-year to Rs 720.5 crore, according to average of estimates of analysts polled by Net interest income, the difference between interest earned and interest expended, is expected to increase 28.1 percent to Rs 1,502.6 crore in Q3FY17 compared with Rs 1,173 crore in same quarter last year. Key things to watch out for would be loan growth, net interest margin, non-performing assets and credit cost. 

The market is still gaining with the Sensex up 101.77 points or 0.4 percent at 26828.32. The Nifty is up 27.75 points or 0.3 percent at 8263.80. About 1471 shares have advanced, 818 shares declined, and 367 shares are unchanged. Tata Motors, Tata Steel, GAIL, Asian Paints and BHEL are top gainers while Axis Bank, Hero MotoCorp, Bahrti, Sun Pharma and Dr Reddy's are losers in the Sensex. Domestic passenger vehicle sales declined by 1.36 per cent to 2,27,824 units in December 2016, from 2,30,959 units in the same month a year ago. Domestic car sales were down 8.14 per cent at 1,58,617 units last month as against 1,72,671 units in December 2015, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Vehicle sales across categories registered a decline of 18.66 percent at 12,21,929 units, from 15,02,314 units in December 2015, it addedsun-pharma

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