INDIAN EQUITY MARKET WRAP UP-31 DEC 2014

INDIAN BENCHMARK  rises, posts best yearly gain in five years

INDIAN EQUITY BENCHMARKS  rose on Wednesday, ending a record-setting year with hopes that the momentum would sustain in 2015 should the government announce additional economic reforms and the central bank start cutting interest rates. The S&P BSE Se nsex and CNX Nifty ended 0.35%-0.42% higher each.

·Bajaj Corp gains on shareholders’ approval to raise FII limit

·Wockhardt falls on voluntarily recalling

·Stock Update: Growth outlook remains strong

The crucial resistance for Nifty is now seen at 8375 and above this 8485. Support for the immediate term is now placed at 8280 and next support will be 8215.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
STRIDES ARCOLAB FUTURE BUY CALL 3 TG
SKS MICRO FINANCE BUY CALL 3 TG
MOTHERSON SUMI FUTURE BUY CALL 1 TG 
ADANIPORT FUTURE  BUY CALL  COST EXIT
YES BANK FUTURE BUY CALL COST EXIT

PREMIUM FUTURES
SKS MICRO FINANCE FUTURE BUY CALL 2 TG (BOOKED AT 421.85)
M&M FINANCE FUTURE BUY CALL 1 TG
JSW ENERGY FUTURE BUY CALL SL TRIGRRED

OPTION:
M&M FINANCE 32O CALL COST EXIT
SKS MICROFINANCE 410 CALL SL TRIGRRED

OPTION PREMIUM:
AMTEK AUTO BUY 170 CALL 3TG

STOCK CASH:

STOCK CASH INTRADAY:
ATUL AUTO BUY CALL 1 TG (BOOKED AT 684.60)
JUBLFOOD BUY CALL COST EXIT

STOCK CASH PREMIUM:
MIND TREE BUY CALL 1 TG

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TOP CORPORATE NEWS-31 DEC 2014

·Lupin gets tentative approval for HIV drug Prezista
Lupin has got USFDA’s tentative approval to market generic versions of Janssen Products’(Janssen) HIV drug- Prezista. The drug generates an annual sales of US$1.2bn in US. The drug is protected by patent up to May 09, 2017.However, Lupin along with other players like Mylan and Teva have challenged the patent in court after filing ANDA through Para-IV route.  The development is sentimentally positive for the company.

·HUL sells it’s headquarter in south Mumbai to HDFC
Hindustan Unilever sold it’s headquarter in south Mumbai to HDFC for Rs300crore (two stage transaction was sign between the two party in 2012); in-line with company’s plans to hive off non-core assets for operational benefits – neutral for the stock

·Bosch suspends manufacturing operations at Nashik plant
Bosch announced that with a view to adjust production to meet the demand for products and to avoid unnecessary buildup of inventory, it is proposed to suspend the manufacturing operations at the Company's Nashik plant on December 31, 2014.

·Atul Auto gains on bulk deals
Shares of Atul Auto gained nearly 8%, touching to Rs684.5, after Goldman Sachs bought a total of 4.05 lakh shares of the company in bulk deals on BSE yesterday,  (December 30, 2014).

Goldman Sachs Asset Mgmt A/C Goldman Sachs Emerging Mkt Eq Fund bought 1.54 lakh shares of Atul Auto at Rs 616.40 per share yesterday, December 30, 2014. Goldman Sachs India Fund bought 2.5 lakh shares of the company at Rs616.40 per share

·JSW Holdings gains after seeking shareholders' nod
JSW Holdings dipped over 5%, touching to Rs998.65, after the company sought shareholders' nod for financial transactions worth Rs 2500 crore with various entities, including group firm JSW Steel.
JSW Holdings sought shareholders' nod for making investments in the securities of other corporates bodies, give loans, guarantees and provide securities for any loan facility to be availed by the other companies not exceeding Rs2500 crore.

·Centre earmarks Rs3199.45 crore for power transmission
The Centre has earmarked Rs3199.45 crore for Arunachal Pradesh and Sikkim to undertake a comprehensive project for strengthening of power transmission and distribution systems to create reliable state power grid and its connectivity to the upcoming load centres. Positive for power transmission & distribution EPC and equipment suppliers

·BHEL forms consortium with MIdhani and HSL
In line with the government’s ‘Make in India’ initiative, three companies - Bharat Heavy Electricals Limited (BHEL), Mishra Dhatu Nigam Limited (Midhani) and Hindustan Shipyards Limited ( HSL) have come together to form a consortium for building submarines indigenously.BHEL has been a reliable supplier of strategic equipment and services to Indian Defence and Paramilitary forces in the past and HSL is a defence PSU engaged in ship building, repairs and submarine retrofit while Midhani is engaged in development and manufacture of a wide range of super alloys and special-purpose steel for applications in defence, aerospace and atomic energy.

·SpiceJet declines after extending flight cancellations
SpiceJet fell nearly 6%, touching to Rs16.75,  after the company extended its flight cancellations till 31 January 2015, affecting at least 329 flights

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Commodity Market News-31 Dec 2014

Silver
Silver prices rose by Rs 169 to Rs 36,653 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.

Copper
Copper smelters raised output 33 per cent in April-November over a year before, to take advantage of higher conversion rates — treatment and refining charges (Tc/Rc) in industry parlance.

Chana
NCDEX Chana Jan. futures traded on positive note (2.69% higher) as Govt is considering a 10% tax on overseas purchases of pulses to support the local farmers. Overall sentiments have turned positive for Chana amid lower sowing this season and expected lower output in 2014-15.

Soybean
Yesterday, NCDEX Soybean Jan futures closed negative (0.90% lower) taking clues from the international markets and on profit booking on higher levles. In the international markets, soybean was also down by 0.38%.

Jeera
Jeera On Monday Jeera Jan. futures closed positive (0.57% higher) on anticipation of lower crop sowing and good demand for the exports. Jeera of Indian origin in the international markets was quoting around $1900-2000/ton.

Turmeric
Turmeric Jan. futures traded lower on a second successive day (1.77% lower) on account of flat domestic demand and good supply in the mandis from the growing belts. Turmeric prices remained flat in benchmark Nizamabad and Erode market.

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Nifty opens below 8250; M&M, Maruti, Bajaj Auto weak

The Sensex is down 6.06 points at 27397.48 and the Nifty down 2.55 points at 8245.70. About 334 shares have advanced, 197 shares declined, and 38 shares are unchanged.

M&M, Maruti, Bajaj Auto, BHEL and Hero Moto are major laggards in the Sensex. Among the gainers are HDFC, Tata Steel, Bharti Airtel, SBI and Axis Bank.

The Indian rupee opened with marginal gain of 7 paise at 63.31 per dollar versus 63.38 a dollar on Tuesday.

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INDIAN EQUITY MARKET OUTLOOK-31 DEC 2014

INDIAN BENCHMARKS are likely to open on a positive note as the global cues look supportive. SGX Nifty is trading 25.50 points higher.

FURTHER,  Wockhardt, Cadila, Hospira recall drugs in the US.

L&T bags contracts worth Rs2,521 crore in Dec.

Sebi allows exit of Ludhiana Stock Exchange as bourse.

Trend in FII flows: The FIIs were net buyers of Rs 277.92 cr in the cash segment on Tuesday while the DIIs were net buyers of Rs. 160.87 cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET WRAP UP-30 DEC 2014

INDIAN BENCHMARKS , Tepid trade, low volumes; minor gains

INDIAN EQUITY BENCHMARKS ended flat on weaker regional shares offset optimism over additional reforms a day after the government passed an executive order to ease land-acquisition rules. The S&P  BSE Se nsex and CNX Nifty ended 0.03%-0.02% higher each.

·Lanco Infratech rose 4.27%, after the firm said that its board passed circular resolution approving the allotment of 5.45 crore shares at an issue price of Rs6.23 per share to ICICI Bank as per CDR package for the firm

·Godrej Properties rose 3.25%, after the company said it has entered into an agreement with Godrej & Boyce to develop a new mixed-use project on the property at Pirojshanagar, Vikhroli West, Mumbai.

·IDBI Bank rose 2.74%, after the bank said that its board has approved the sale of bank's part or whole shareholding of 48.18 lakh shares in Credit Analysis & Research in one or more lots.

The crucial resistance for Nifty is now seen at 8370 and above this 8475. Support for the immediate term is now placed at 8275 and next support will be 8210.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
JSW ENERGY  FUTURE BUY  CALL  2 TG 
SYNDICATE BANK  FUTURE  BUY  CALL  1 TG
CAIRN  INDIA  FUTURE  SELL  CALL  1 TG
JSW STEEL  FUTURE SELL CALL  COST EXIT
SESA STERLITE  FUTURE  SELL  COST EXIT

PREMIUM FUTURES
ANDHRA BANK FUTURE BUY CALL  1 TG

NIFTY FUTURES:
BANK NIFTY FUTURE BUY CALL 3TG

OPTION:
ADANI PORT  BUY  300  CALL 3  TG
ALLAHABAD BANK  BUY 130   CALL 1  TG
LICHSG   BUY  420  CALL 1  TG

OPTION PREMIUM:
ANDHRA BANK BUY CALL  3 TG

STOCK CASH:

STOCK CASH INTRADAY:
ABAN OFFSHORE  BUY  CALL 3 TG
TUBE INVESTMENTS  BUY CALL 3 TG
YES BANK  BUY  CALL  3 TG
GIC HOUSING  BUY CALL  1 TG
HAVELLS INDIA BUY  CALL  SL TRIGGERED

STOCK CASH PREMIUM:
ABAN OFFSHORE  BUY  CALL 3 TG
ATUL  AUTO  BUY  CALL 1 TG  (BOOKED AT 642.50)

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TOP CORPORATE NEWS-30 DEC 2014

·RBI plans to bring govt owned NBFCs under prudential regulations
RBI plans to bring govt owned NBFCs under prudential regulations—negative for PFC, REC ,RBI in its financial Stability reported suggested that there is need to bring government owned NBFCs ( PFC, REC etc) on par with regulations applicable to other NBFCs.Presently the framework on provisioning, capital adequacy, asset classification etc for government owned NBFCs is softer compared to other NBFCs.Going ahead if RBI implements this, it should result in higher provisioning burden or capital requirements for these NBFCs hence negative for PFC, REC.

·RBI Financial Stability report: Macro issues improving
RBI Financial Stability report-Macro issues improving though reversal of flows remains risk, cautious on banking sector, Key points the reversal of external flows remains key risk with India economy. Asset quality of Banks may improve if economic revival continues. However if economy falters, the assets quality of banks may worsen. Close ties between top banks would leave the banking system especially vulnerable to contagion in case of trouble at a single institution.

·Government to raise stake in IFCI to 51%
IFCI will now be back in the government fold as Union cabinet has approved Rs60-crore equity infusion in the entity to raise its shareholding to 51% from 47.93% at present. Under the present circumstances, the governments say in company will help to draft revival plan for the IFCI which is positive development.

·Blue Star ties up with Eureka Forbes; stk up
Blue Star rose over 5%, touching to Rs327, after the company has agreed to collaborate with Eureka Forbes to launch water coolers with in-built purification. The partners are eyeing around Rs150-200 crore from this collaboration. The new line-up of storage water cooler with inbuilt purifier comprises four models - three models with UV purification and one model with RO purification technology.

·L&T Construction wins orders worth Rs2521 Crores
L&T Construction Wins Orders Valued Rs2521 Crores – Positive for L&T, The Building & Factories business of L&T Construction has bagged orders worth Rs 2521 crores in the month of December 2014 in both the domestic & international markets. The key new orders include L&T Oman LLC (a subsidiary of L&T) won a order from the Ministry of Transport & Communications, Sultanate of Oman, for the construction of a new passenger terminal at Duqm Airport in Oman.

·IDBI Bank gains 3% as Board approves stake sale in CARE
Shares of IDBI Bank gain nearly 3% on NSE after its Board approved stake sale in CARE—sentimentally positive Board of IDBI Bank has approved whole or part sale of 48 lakh shares (16.7% stake) held in rating agency CARE. The Bank has been trying to sell non-core investments (CARE,  NSE etc) to improve its capital position in the light of stringent Basel III regulations.

·Bharti Airtel not to charge higher price for VoIP services
Bharti Airtel takes back its decision to charge higher price for its VoIP services Post the huge social outcry on differential and high VoIP charges plan announced by it, Bharti Airtel has withdrawn its plan for the same, and has stated that it is awaiting TRAI’s consultation paper relating to OTT services, and expects the regulator to come out with balanced outcome on the same

·Tata Steel: Iron ore impacts production and profitability in Q3
Tata Steel, iron ore impacted production and profitability in the current quarter Company suspension of a blast furnace for over a month at its Jamshedpur facility for want of iron ore impacted production and profitability in the current quarter (Q3FY2015).For the current quarter, mining operations in Noamundi Iron Ore mine in Jharkhand was suspended for the entire period and four mines in Odisha including the Joda iron ore mine was suspended for a month. Sentimentally negative for Tata Steel.

·TVS Motor, BMW import prototype parts for upcoming motorcycle
TVS Motor and BMW import prototype parts for upcoming motorcycle; positive developments for TVS Motor TVS Motor- BMW partnership have imported prototype parts for the development of their upcoming motorcycle.TVS Motor and BMW have entered in a partnership to develop an under 600 cc motorcycle. The vehicle is scheduled for launch in end CY2015. The development is positive for TVS Motor.

·United Bank of India updates on proposes All India Bank strike
United Bank of India announced that the Bank is in receipt of a communication dated December 23, 2014 from Indian Bank's Association informing about a notice dated Dec 22, 2014 served by the Convenor, United Forum of Bank Unions informing to go on All India Bank Strikes on Jan 07, 2015 and January 21 to Jan 24, 2015 on demand of immediate settlement of wage revision and related matters. However, the Bank will take all reasonable steps to maintain undeterred services on the days of strike to the extent possible.

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Sensex, Nifty flat; HUL, L&T, ICICI Bank early gainers

The Sensex is up 37.03 points at 27432.76, and the Nifty is up 14.00 points at 8260.30. About 412 shares have advanced, 125 shares declined, and 18 shares are unchanged.

HUL, L&T, Tata Motors, Hindalco and ICICI Bank are top gainers in the Sensex. GAIL, Hero, HDFC Bank, Wipro and ONGC are among the laggards.

The Indian rupee opened marginally lower at 63.72 per dollar as against previous day's closing value of 63.67 a dollar.

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INDIAN EQUITY MARKET OUTLOOK-30 DEC 2014

INDIAN BENCHMARK are likely to open on a flat note as the global cues look mixed. SGX Nifty is trading 12.50 points higher.

FURTHER, RINL gets Sebi's nod for IPO    

L&T Hydrocarbon bags Rs894 cr offshore contract from ONGC

RBI eases norms for Indian companies investing abroad

Trend in FII flows: The FIIs were net sellers of Rs -204.22 cr in the cash segment on Tuesday  while the DIIs were net buyers of Rs.360.38 cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
PETRONET FUTURE BUY CALL 3 TG  (BOOKED AT 213.70)
ASIAN PAINT FUTURE BUY CALL 3 TG 767 ( BOOKED AT 766.40)
SKS MICRO FINANCE FUTURE SELL CALL 2 TG
GLENMARK PHARMA FUTURE SELL CALL 2 TG   (BOOKED AT 787.10)
BHARAT FORGE BUY CALL BOOKED AT 951.80

PREMIUM FUTURES
MRF FUTURE SELL CALL 3TG
TVS MOTORS BUY CALL HOLD FOR TOMMOROW

NIFTY FUTURES:
BANK NIFTY SELL CALL 1TG
NIFTY FUTURE SELL CALL COST EXIT

STOCK CASH:

STOCK CASH INTRADAY:
ABAN OFFSHORE BUY CALL 3 TG
COX & KINGS SELL CALL 2 TG
CENTURYTEX BUY CALL 1 TG

STOCK CASH PREMIUM:
ABAN OFFSHORE BUY CALL 1 TG

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INDIAN EQUITY MARKET WRAP UP-29 DEC 2014

INDIAN BENCHMARKS gain for second day as metals shine

INDIAN EQUITY BENCHMARKS  rose for the second consecutive session on Monday, led by metals and mining firms such as Tata Steel on expectations the government would pass executive orders to ease land acquisition rules and auction minerals such as iron ore. The S&P BSE Sensex and CNX Nifty ended 0.57%-0.56% higher each.

·Shares of Gujarat Pipavav Port soared 10% to Rs199, also is record high on ( NSE), on back of heavy volumes.

·Career Point gains 11% on signing MOU with Govt of Rajasthan

·Aban Offshore rallies 15% on rating upgrade

The crucial resistance for Nifty is now seen at 8375 and above this 8425. Support for the immediate term is now placed at 8285 and next support will be 8210.

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TOP CORPORATE NEWS-29 DEC 2014

·HDIL gets relief against FIR for SRA project; stock up
Shares of Housing Development & Infrastructure gained 3% at Rs70 after the company which challenged the F.I.R with regards to a SRA project in suburban Mumbai was granted ad-interim relief by the Bombay High Court. The stock opened at Rs68 and touched a high of Rs71.45 on NSE.

·Govt eyes Rs3 lakh crore investments in power transmission business
With an ambitious target to give 24X7 electricity to all, the government is eyeing Rs3 lakh crore worth investments in power transmission and distribution business. During the last five years, opportunity from Power Grid was around Rs1 lakh crore. Hence if capex will flow in such large quantum in T&D space, it will unfold a huge opportunity for T&D EPC players and support equipment (transformer, cables & others) manufacturing

·IOC to bag Rs2,800-crore Ennore-Tuticorin LNG pipeline project
Indian Oil Corporation is well positioned to bag the Rs2,800-crore Ennore-Tuticorin LNG pipeline project which will link its proposed Ennore LNG Terminal with the southern parts of Tamil Nadu and Bengaluru. Positive for the company.

·Career Point gains 11% on signing MOU with Govt of Rajasthan
Career Point surged over 10% to Rs148 on NSE after the company said it has signed a memorandum of understanding ( MOU) with Rajasthan Skills and Livelihood Development Corporation (an undertaking of Government of Rajasthan) to impart skill development training. The stock opened at Rs136.50 and hit a high of Rs151.90 on NSE.

·Andhra Pradesh plans to add 16000 MW of power generation capacity
Andhra Pradesh government is planning to add around 16000 MW of power generation capacity in the next five years, which includes capacity addition in thermal power (3,240 mw), central generating stations (1,949 mw), solar (3,150 mw), wind (7,030 mw) and other sources. Incremental opportunities for central power generators like NTPC and equipment suppliers like BHEL & others

·L&T wins Rs894 crore order from ONGC
Shares in Larsen and Toubro (L&T) were trading higher by nearly 1% at Rs1,502 on NSE after the company said it has bagged an offshore contract valued at Rs894 crore from the Oil & Natural Gas Corporation ( ONGC).L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen & Toubro, has bagged an offshore contract valued at Rs 894 crore from the Oil & Natural Gas Corporation ( ONGC) for additional development of the Vasai East project.

·Lupin gets USFDA approval for HIV drug Epivir Tablets
Lupin has received US health regulator's approval to market a generic version of ViiV Healthcare's Epivir Tablets (generic name: Lamivudine tablets), used in treating HIV infection, in the US market.
Epivir tablets are indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus ( HIV-1) infection. Epivir generates near US$39.7mn annually in US market.

·PM, FM, RBI governor to hold discussion with PSU Bank Chiefs
Prime Minister Narendra Modi along with FM Arun Jaitley, RBI Governor, Finance Secretary will hold discussions with chiefs of public sector banks on January 2nd and 3rd to work out an action plan for major reforms in the banking sector. Several issues are pending for PSU Banks like consolidation, capital raising, governance, asset Quality and some positive announcements may happened post the meeting. Therefore PSU Banks will be under focus over the next one week.

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Commodity Market News-29 Dec 2014

Gold rose the most in 2-1/2 weeks on Friday in thin post-Christmas trading, boosted by short-covering after China's central bank was reported to be considering a loosening of liquidity requirements at the country's banks.

Silver rose 2.7 percent to $16.09 an ounce. The People's Bank of China (PBOC) is weighing changing rules governing how loan-to-deposit ratios are calculated at banks, a move that would boost liquidity conditions, sources with direct knowledge told Reuters.

Crude Oil prices fell Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the United States, trumped worries about falling production from Libya.

U.S. natural gas futures hit a more than two-year bottom below $3 on Friday, finishing the worst week in 10 months, as disappointing weekly draws of the fuel raised worries about growing supplies of gas in storage.

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Sensex up over 200pts, Nifty above 8250; metals, autos lead

The Sensex is up 72.01 points at 27313.79 and the Nifty s up 15.70 points at 8216.40. About 417 shares have advanced, 135 shares declined, and 35 shares are unchanged.

Sesa Sterlite, L&T, Dr Reddy's Labs, Tata Motors and ONGC are gainers in the Sensex.

The Indian rupee declined in the early trade. It opened lower by 10 paise at 63.66 per dollar versus 63.56 Friday.

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INDIAN EQUITY MARKET OUTLOOK-29 DEC 2014

INDIAN BENCHMARKS are likely to open on a flat to positive note as the global cues look mixed. SGX Nifty is trading 27.00 points higher.

FURTHER,  Lupin eyes acquisitions in US, Europe.

KFA's 2-year term to renew its flying permit expires on Dec 31.

Sumitomo Mitsui may take up to 10% stake in Reliance Bank.

Trend in FII flows: The FIIs were net buyers of Rs 39.97 cr in the cash segment on Friday while the DIIs were net buyers of Rs. 417.29 cr, as per the provisional figures released by the NSE.

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WEEKLY EQUITY MARKET REPORT-22 DEC TO 27 DEC 2014

INDIAN BENCHMARKS closed with volatile trading week on a flat note led by unsupportive domestic cues and global turmoil. Markets slumped in the first three trading sessions of the week as prospects of higher interest rates in the United States and a sharp fall in global crude oil prices weighed on sentiment.

The worries and concerns have not really vanished but sentiment got a boost late in the week from the Fed which seems upbeat of the US economy. The INDIAN BENCHMARKS SENSEX ended 0.1 percent higher at 27371 and the 50-share NIFTY ended 0.1 percent up at 8225.

GLOBAL MARKET CHASE

ASIAN STOCKS higher for a second day on investor confidence continued to be bolstered by expectations the U.S. is in no rush to raise interest rates.

U.S. STOCKS finished a three-day rally on investors continued to applaud the Federal Reserve's commitment to be patient when deciding when to hike interest rates.

EUROPEAN STOCKS were higher on supported by the release of strong German consumer climate data and after the Federal Reserve said it would be "patient" before raising rates.

WEEK AHEAD

In the coming week, the market may remain volatile next week as traders roll over positions in the futures & options (F&O) segment, as the near month December 2014 derivatives contracts expire on Wednesday, 24 December 20014,

The stock market remains closed on Thursday, 25 December 2014, on account of Christmas and Key events/factors to watch Indian parliament's winter session ends, RBI bi-weekly money supply data and India weekly FX reserves and bi-weekly bank credit data due at 1130 GMT.

Among global cues, all eyes are on the fate of key reform bills pending in parliament. The fate of several crucial bills hangs in a limbo due to several disruptions by the Opposition over the alleged forced conversion row in the Rajya Sabha.

CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
ORIENTAL BANK  FUTURE BUY  CALL  3 TG 
UNION BANK  FUTURE  BUY  CALL 2 TG
BANK OF INDIA  FUTURE  BUY CALL 2 TG
IGL  FUTURE SELL BUY CALL  1 TG
RECLTD  FUTURE   BUY CALL 1 TG

PREMIUM FUTURES
UNION BANK FUTURE  1 TG

OPTION:
CANARA BANK  BUY  440  CALL 1 TG
UNION BANK  BUY 230   CALL 1  TG

STOCK CASH:

STOCK CASH INTRADAY:
ALSTOMT&D BUY CALL 1 TG (BOOKED AT 477.75)
CANARA BANK BUY CALL 1 TG (BOOKED AT 448.40)
ACC (WEDNSDAY HOLD) BUY CALL 1 TG (BOOKED AT 1411)

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INDIAN EQUITY MARKET WRAP UP-26 DEC 2014

INDIAN BENCHMARKS , Dalal Street on a tight Leash: Low volumes, Marginal gains

INDIAN EQUITY BENCHMARKS closed higher on snapping a two-day losing streak, led by technology stocks such as Infosys on a weaker rupee while broader sentiment was tepid as investors kept away from risky bets ahead of the year-end holidays. The S&P  BSE Se nsex and CNX Nifty ended 0.12%-0.33% higher each.

·VA Tech Wabag gained 1.19%, after the company announced that it has won World Bank funded sewage treatment plant order worth Rs175 crore in the Philippines.

·Zensar Technologies surged 7.68%, after the company announced significant multimillion dollar deals in its Infrastructure Management Business in the US in Dec 2014

·DB Realty surged 8.76% after the company said that a development project by its subsidiary received full occupation certificate.

The crucial resistance for Nifty is now seen at 8370 and above this 8475. Support for the immediate term is now placed at 8205 and next support will be 8125.

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TOP CORPORATE NEWS-26 DEC 2014

·GSFC drops after RBI restricts FII buy
Gujarat State Fertilizers & Chemicals (GSFC) rose nearly 2%, touching to Rs110.75, after the Reserve Bank of India placed restrictions on further purchases of shares of the company by registered foreign portfolio investors. The Reserve Bank of India  on Wednesday, (Dec 24, 2014), notified that the foreign shareholding through Foreign Institutional Investors ( FIIs)/Registered Foreign Portfolios Investors in Gujarat State Fertilizers & Chemicals has reached the trigger limit.

·Zensar Tech rises on securing multi-million dollar deals
Zensar Technologies gained over 9%, touching to Rs634.35, after the information technology (IT) company announced that it has signed multi-million dollar deals in its infrastructure management business in the US in the concluding month of calendar year 2014.

·Eros International adds one big budget movie for FY16 slate
Eros International: Added one big budget and a small budget movie for FY16 slate. Eros International has acquired the Global Distribution Rights of Zoya Akhtar’s ‘ Dil Dhadakne Do’ and Karan Anshuman’s ‘Bangistan’. Eros will release ‘Bangistan’ on 17th April, 2015 and ‘ Dil Dhadakne Do’ on 5th June, 2015 in the international markets.

·Corporation Bank rises on fixing record date for stock split
Shares of Corporation Bank gained over 4%, touching to Rs331, after the bank set 23 January 2015 as the record date for 5-for-1 stock split. Corporation Bank's board of directors at its meeting held on 8 August 2014 had approved a 5-for-1 stock split.

·RIL inks deal with Mitsui O.S.K. Lines
Reliance Industries Ltd ( RIL) has announced that the Company has signed shipping agreements with MITSUI O.S.K Lines (MOL) for transporting Liquefied Ethane from North America to India. MOL will supervise the construction of six Very Large Ethane Carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.

·PNB up on fund raising approval
Shares of Punjab National Bank  rose over 2%, touching to Rs224.4, after the bank said its board approved seeking shareholder approval for raising of equity capital by way of FPO/ QIP/ ESPS or in any combination thereof. Punjab National Bank  said that the board of directors of the bank at its meeting held on Dec 23, 2014, has approved the holding of EGM on February 13, 2015, for election of three shareholder directors of the bank and seeking shareholder approval for raising of equity capital by way of FPO/ QIP/ ESPS or in any combination thereof.

·Power Grid surges on buzz of new transmission projects
Shares of Power Grid Corporation of India rose over 2%, touching to Rs139.7, on media buzz that power ministry has invoked a provision in the relevant CERC rules to give eight new transmission projects with an estimated cost of Rs 36000 crore to PGCIL.

·Spice Jet spurts 8% on revival plan reports
Shares of Spice Jet rose over 10%, touching to Rs19.5, on media reports that cash-strapped aviation firm will provide a revival plan to the ministry of civil aviation today. Ajay Singh, former promoter and director of Spice Jet, along with a consortium of foreign investors, was scheduled to give a proposal in this regards,
a private-equity unit of JP Morgan and Ajay Singh, who quit as a director of the airline in 2010, plan to buy the entire stake held by majority shareholder Kalanithi Maran.

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Nifty above 8200, Sensex firm; Coal India, SBI, HDFC gain

The Sensex is up 64.99 points at 27273.60 and the Nifty is up 32.00 points at 8206.10. About 571 shares have advanced, 218 shares declined, and 20 shares are unchanged.

Coal India, SBI, HDFC, ICICI Bank and Tata Power are top gainers in the Sensex. Among the losers are GAIL, ITC, Maruti, Dr Reddy's and Hindalco.

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INDIAN EQUITY MARKET OUTLOOK-26 DEC 2014

INDIAN BENCHMARK are likely to open on a flat to positive note as the global cues look mixed. SGX Nifty is trading 10.50 points higher.

FURTHER, MTNL launches app for registering complaint, bill payment.

Orchid Sumitomo Mitsui to take $58.4 mn stake in Reliance Capital.

JPMorgan fund in talks on taking $200 mn stake in Spice Jet.

Trend in FII flows: The FIIs were net sellers of Rs -2808.27 cr in the cash segment on Friday while the DIIs were net buyers of Rs.509.09 cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET WRAP UP-24 DEC 2014

INDIAN BENCHMARKS fall over 1 pct ; China , derivatives expiry weigh

INDIAN EQUITY BENCHMARKS   fell over 1% to mark a second consecutive session of declines on Thursday after blue-chips such as Housing Development Finance Corp tracked falls in Chinese stocks and the expiry of monthly derivatives contracts. The S&P BSE Sensex and CNX Nifty ended 1.08%-1.12% lower each.

·Opto Circuits spurts 16% on Cabinet nod for easing FDI norms

·November all India telecom net adds grow by 1.24%

·Bharati Shipyard surges in weak trend

The crucial resistance for Nifty is now seen at 8305  and above this 8375. Support for the immediate term is now placed at 8215 and next support will be 8140.

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CS ROCKING PERFORMANCE OF THE DAY:

STOCK FUTURES:

FUTURES INTRADAY
LIC HSF FUTURE BUY CALL 2TG
HINDALCO  FUTURE SELL CALL 2 TG( BOOKED AT 149.95)
SUN TV FUTURE BUY CALL BOOKED AT 376.60
RELIANCE CAPITAL FUTURE BUY CALL EXIT AT 496

PREMIUM FUTURES
EICHER MOTORS FUTURE BUY CALL SL TRIGRRED

NIFTY FUTURES:
BANK NIFTY FUTURES SELL CALL 1TG
NIFTY FUTURES SELL CALL EXIT NEAR COST PRICE

OPTION:
RELIANCE CAPITAL 480 CALL 1TG

STOCK CASH:

STOCK CASH INTRADAY:
JUBLFOOD BUY CALL SL TRIGRRED
ACC BUY CALL HOLD FOR FRIDAY

STOCK CASH PREMIUM:
CENTURY TEXTILE FUTURE BUY CALL COST EXIT

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TOP CORPORATE NEWS-24 DEC 2014

·Cabinet approves ordinance for Insurance FDI; stocks rally
The Union Cabinet has approved the ordinance for Insurance FDI and Coal block allocations. This is positive for insurers like Max India, Bajaj Finserv, Reliance Capital, Exide.
Shares of companies engaged in insurance business rose by up 4% after the Union Cabinet clears the Insurance Laws Amendment Bill.

·Alstom T&D secures order for Rs180 crore from NTPC
Alstom T&D India secured an order worth around Rs180 crore from NTPC  to supply a 765 kV switch yard at the 2x800 MW Darlipalli super thermal power project (STPP) in Sundergarh district of Odisha.
Alstom T&D India will design, engineer, manufacture, install and commission eleven 765kV bays and fourteen 132kV bays. Positive for Alstom T&D.

·JP Associates board approves disinvestment of two cement units
Jaiprakash Associates has announced that the Board of Directors of the Company at its meeting held on December 23, 2014 has approved the disinvestment of cement units to UltraTech Cement. The board has approved the Memorandum of Understanding setting out the broad terms and conditions of the proposed acquisition. The enterprise value of this acquisition has been agreed at Rs5400 crore.The transaction is subject to customary due diligence, definitive agreements and regulatory approvals as may be required. The disinvestment is in line with the Jaypee Group's publicly announced policy of bringing down JAL's debt and improving its balance sheet.

·Electrosteel Castings board approves to offload shares in associate firm
Shares of Electrosteel Castings rose over 3% touching Rs18.25, after the company said its board approved to offload 7.20 lakh equity shares of the company's investment in an associate company.
Electrosteel Castings' board of directors at its meeting held today, (December 24, 2014), approved to offload 7.20 lakh equity shares of the company's investment in Singardo International Pte., an associate company of Electrosteel Castings.

·Panacea Biotech collaborates with international pharmaceutical company
Panacea Biotech has entered into a collaboration with a leading international pharmaceutical company for the development and supply of an immunosuppressant generic product in USA. The collaboration has been established on December 23, 2014 for research, development and subsequent ANDA submission for a generic immunosuppressant drug. Under the terms of the agreement, the Company shall receive an upfront Research Fee, as well as a milestone payment linked with the development of the product.

·Essel Propack receives approval to merge EP Lamitubes
Essel Propack received approval to merge EP Lamitubes (wholly owned subsidiary of Essel Propack) from Bombay high court. The merger will cut administrative cost related to overseas investments and help improve profits. The company is also planning to undertake more restructuring to improving profitability in near to medium term – positive read through for the stock

·GAIL, RCF, CIL and FCIL sign JVAs to revive fertilizer plant at Talcher, Odisha
GAIL (India) announced that the Company along with Coal India Ltd ( CIL), Rashtriya Chemicals and Fertilizers ( RCF)and Fertilizer Corporation of India signed joint venture agreements to set up an integrated Coal Gasification cum Fertilizer and Ammonium Nitrate Complex at Talcher in Odisha. The project comprises of 3,850 MTPD Urea plant, 2,700 MTPD Ammonia plant, 850 MTPD Nitric Acid plant and 1,000 MTPD Ammonia Nitrate plant. GAIL (India) will put up the Coal gasification plant and RCF and CIL will put up the other downstream plants of ammonia, urea, nitric acid and ammonia nitrate.
Subsequent to detailed feasibility study, execution of construction activities is likely to start in year 2015-16 and expected to complete by the year 2019.

·Bharati Shipyard surges in weak trend
Shares of Bharati Shipyard rose over 15%, touching to Rs38.75, on buzz that the company is looking to raise funds upto Rs634 crore from foreign investors by April in an effort to infuse liquidity into the cash-strapped shipbuilder.

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