Rising crude and falling rupee is acting as a double whammy for airline stocks

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Starting from RPK, it goes on to ASK, RASK, CASK and so on. Looks like they are designed to deceive rather than to help to dissect.

Still, no harm in understanding what are they. RPK refers to revenue per passenger-kilometer while ASK refers to available seat-kilometer.Rest should be easy with RASK pointing to revenue per available seat-kilometer and CASK representing the cost side of the equation.

If analyst’s job is to distil the complex numbers into a simple insight, here is this simple question that can help to distil and understand the economics of airline business, particularly in the Indian context.

For many industries, demand outlook defines and dictates profitability. A brighter outlook on demand invariably means buoyant profits. But that equation hardly holds for the airline industry.

With buzzing airports and jammed taxiways, demand is the last thing the airlines are anxious about. While there is no dearth of demand for air travel.

The lethal combination of rising crude oil prices and falling rupee is likely to act as a double whammy and could wreck the pricing plans of relatively stronger ones further with significant spare capacity at their disposal.

To answer that simple question we had posted above, the industry’s lack of pricing power may be arising from the rare blend of industry’s inherent fixed cost structures and spare capacity in the hands of weaker players.

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D-Street takes a breather! Sensex below 38K, Nifty around 11,450;

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Indian Indices:               
                                         Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 2.5 points or 0.02 percent. Nifty futures were trading around 11,485-level on the Singaporean Exchange.Investors are booking profits in banks as well as indulging in fence-sitting ahead of State Bank of India’s results. IT and metal stocks are witnessing some strength, while the midcap index is trading flat with a positive bias.

Shares of Jet Airways tanked 10 percent after the airline has deferred its results and its audit panel refused approval to its results.

Global Market:

• Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.46% while the Hang Seng is down 0.41%. The Shanghai Composite is not trading.

• US Markets: Nasdaq logs best streak since October as broader market closes lower.

• European markets: European markets finished mixed as of the most recent closing prices. The DAX gained 0.34%, while London's FTSE 100 was off 0.45%. Shares in France were unchanged with the CAC 40 at 5,502.25.

Major Headlines of the day:

• Results today :-  AB Capital,Acrow India,Allcargo,Andhra Bank,Apollo Hospital,Balaji Telefilm,Bosch,CG Power,DCM,DLF,Emami  Paper,Endurance Techn,GAIL,Glenmark,Hindalco,IGL,Lux Industries,NCC,NHPC,Nitco,PC Jeweller,Rupa and Comp,SBI,Sun TV Network,UCO Bank,Union Bank,Vakrangee,Voltas.

• Trend in FII flows:-  The FIIs were Net Value of Rs 370.68 cash segment while the DIIs were Net Value of  -85.39 per the provisional figures.

Securities in Ban For Trade Date 10-AUGUST-2018

1.Adanipower
2.Adanient
3.PNB

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Nifty opens below 10,000, Sensex slips 450 pts on US-China trade war fears;

Nifty opens below 10,000, Sensex slips 450 pts on US-China trade war fears;

Indian Indices:                                

SGX Markets set to open gap down as trade wars escalate. SGX Nifty is currently trading at 10,001 down 116 points. Indian markets are expected to see a continuation of the selling pressure, as global markets witness steep cuts on account of a potential trade war as both US and China imposed tariffs against each other.

The US has rolled back some tariffs on other countries which is a positive and measures announced By Donald Trump are less aggressive than what we feared, said Chetan Ahya, Co-Head of Global Economics & Chief Asia Economist at Morgan Stanley in an interview to CNBC-TV18. He believes this is going to have moderate impact on trade & growth. Previous experiences indicate impact of global trade war is not severe, he believes. Benchmark indices opened sharply lower on Friday, tracking steep fall in global peers on US-China trade war worries. The Sensex fell more than 450 points and the Nifty breached 10,000-mark for the first time in 2018.About 25 shares declined for every share rising on the NSE.HCC, Union Bank, Reliance Communications, Bank of Baroda, PNB, Bank of India, Canara Bank, IVRCL, GMR Infrastructure, Nalco, JSPL and SAIL fell up to 7 percent.

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Global Market:

• Major Asian markets are trading in the red at present Nikkei is down 3.67%, Hang Seng is down 3.31% while Shanghai Composite is trading 2.21% lower.

• US Markets: Stocks witnessed heavy selling pressure in yesterday’s session with the major averages ending near the low point of the day.

• European markets also cracked yesterday with FTSE closing 1.24% lower, CAC dipped 1.4% while DAX ended  01.73 lower%.

Major Headlines of the day:

• Allahabad Bank: Bijaya Kumar Sahoo, Sarath Sura and Parthapratim Pal assume office as directors from March 22, 2018.
• Union Bank of India: CBI registers a case on a complaint filed by bank against Totem Infra.
• Cox & Kings: The company has sold 11.58% stake in subsidiary
• Shriram Transport Finance raises Rs 1830cr via bonds
• Hero Motocorp: The firm has hiked stake in Colombian jt venture to 68%

Trend in FII flows: The FIIs were Net Value of Rs 161.11 the cash segment Thursday  while the DIIs were Net Value of Rs 409.89 as per the provisional figures.

Securities in Ban For Trade Date 23-MAR-2018:

1.HDIL
2.IDBI
3.IFCI
4.JETAIRWAYS
5.JINDALSTEL
6.JPASSOCIAT
7.RCOM

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Market falls with uncertainity

Sensex falls 100 pts, PSU Bank dips 1%; Bhushan Steel up 20%;

Indian Indices:

The Indian equity benchmark indices are likely to open higher today, tracking firm Nifty firm trend in the SGX Nifty Index Futures for February delivery, which was trading at 10,487, up by 24 points or 0.23at 11:26 AM Singapore time, also signaled a positive opening for the domestic equity bourses. Market participants is expected to react to recent data showing foreign investors have pulled out USD 1 billion or Rs 6,850 crore so far this month from the Indian stock market due to selloffs globally. The equity market is expected to remain volatile ahead of February F&O expiry on this Thursday. The banking stocks will remain in focus as the PNB mess will take a toll on other banks also futures on the Singapore Stock Exchange and positive trend across the global markets.

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On the Stock front

ØShares of Reliance Industries Limited will remain in focus as the company has said that its arm Reliance Industrial Investments and 

Holdings Limited will acquire equity shares of The Indian Film Combine Private Limited ("IFC"), a company incorporated in 1942.

ØShares of Reliance Communications is expected to remain on investors’  radar as the shareholders of Anil Ambani­led company have 

approved the sale of its wireless assets to pare debt.

On the Corporate front

ØInfosys, India's second largest software services firm, has said that it has divested its investment in OnMobile Systems Inc for USD 2.49 million. "...it (Infosys) has on February 15, 2018 signed an agreement for divestment of its entire investment from OnMobile Systems Inc.

Ø ONGC Videsh Ltd, the overseas arm of state­owned Oil and Natural Gas Corp (ONGC), will bid for development rights of Iran's giant 

South Azadegan Oilfield in direct competition with the likes of global giants like Shell, France's Total, Petronas of Malaysia and Russias Gazprom.

PREVIOUS DAY ROUNDUP (DOMESTIC)

ØThe Indian equities ended lower in volatile trade on Friday, undermining firm cues from Asian peers, led by sharp sell­off in final hour 

of day’s trade with PSU bank index falling over 2 percent.

Global Market:

·       Major Asian markets are shut today. Nikkei is currently up 1.31%.

·       US Markets: Wall Street ended Friday's session on a mixed note while the Dow and S&P 500 closed higher for the 6th consecutive session the Nasdaq ended the day marginally lower.

·       European markets closed in the green on Friday with FTSE up 0.82%, CAX was up 1.12% and DAX closed 0.85% higher.

Major Headlines of the day:

·       The Indian Government has said that it may soon unveil a Rs 15,000 crore plan to ensure the farmers get the minimum support 

price (MSP) for their crops even when market prices fall below the benchmark rate.

·        PNB-Clarifies to exchanges on the news: Government asks fraud hit PNB to conduct forensic audits, "Bank hasn't received any instruction from government authority and hence can't comment".

·        Religare Enterprises-To raise funds upto Rs 1,200 crore through issue of shares/convertible securities/debt-Appointment of 3 board of directors.

Trend in FII flows: The FIIs were Net Value of Rs -1065.99  the cash segment Friday while the DIIs were Net Value of Rs 1127.78 as per the provisional figures.

Securities in Ban For Trade Date 19-FEB-2018:

1.BALRAMCHIN

2.DISHTV

3.FORTIS

4.GMRINFRA

5.HDIL

6.JISLJALEQS

7.JPASSOCIAT

8.ORIENT BANK

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Market for the focus

Volatility to persist with markets indicating a positive opening

Indian Indices:

The Indian equity benchmark indices are likely to open on a positive note today tracking firm Nifty futures on the Singapore Stock Exchange 

and mixed cues from global peers.Back home, firm SGX Nifty. Index Futures for February delivery, which were trading at 10,492.50, up by 41 points or 0.39at 11:56 AM Singapore time, also signaled 

a positive opening for the domestic equity bourses. Reserve bank of India’s hawkish stance on monetary policy will weigh on investors’ sentiments as the Central bank lowered GDP forecast to 6.6% for FY18, citing concerns over steep spike in inflation, fiscal deficit and the 

volatility in global financial markets.

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On the Earning front

Ø Stock  focus will be on ACC,BHARATFORGE,BHEL,CADILA,CESC,DRLALPATH,GLENMARK,GRANULES,GSPL,HEIDALBERG,MANAPPURAM,PETRONET,SAIL,RELCAP,TORRENTPHARMA,MUTHOOTFIN,PAGEINDUSTRIES,TATACOMMamong others which will announce their December 2017 quarter earnings report today.

Global Market:

·       Major Asian markets are trading mixed at present Nikkei is up 0.26%, Shanghai Composite is trading 0.68 % lower while Hang Seng is trading up 0.8%

·       US Markets: Wall Street witnessed a sell-off in the last hour of trade ending the day on a flat note.

·       European markets closed in the green yesterday with FTSE up 1.90%, CAX was up 1.79% and DAX closed 1.57% higher.

Major Headlines of the day:

·        SRF to set up BOPET film line in a new entity in Europe at a cost of Euro 58 mn to be financed by loan/ internal accruals.

·        The bids for Bhushan Steel were opened today, with JSW Steel emerging as the favourite to bag the troubled steel maker. Other bidders included Tata Steel and a consortium consisting of employees of Bhushan Steel.

·        Dilip Buildcon has incorporated a new special purpose vehicle (SPV) named as "DBL Chandikhole Bhadrak Highways Private Limited" to undertake the rehabilitation and up-gradation to six-laning of Chandikhole-Bhadrak Section of NH-5 (New NH-16) from km 62 to km 136.5 in the state of Odisha to be executed as Hybrid Annuity Project under NHDP Phase V.

Trend in FII flows: The FIIs were Net Value of Rs -1022.50  the cash segment Wednesday while the DIIs were Net Value of Rs 461.19 as per the provisional figures.

Securities in Ban For Trade Date 08-FEB-2018:

§  FORTIS

§  GMRINFRA

§  HDIL

§  JISLJALEQS

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INDIAN EQUITY MARKET OUTLOOK-12 APRIL 2016

INDIAN BENCHMARKS Flat opening seen for Indian markets.

Indian markets are likely to open little changed on Tuesday as traders stick to a cautious approach ahead of the March retail inflation and February IIP data due today. SGX Nifty is trading 5.00 points lower. Indian shares gained in line with global markets on Monday, though caution crept in, as market awaits March-quarter earnings for companies, beginning with Infosys. The S&P BSE Sensex rose 1.41% and CNX Nifty gained 1.54%.

Global Markets:

• Asian stocks rose on Tuesday, led by a rebound in Japanese stocks, while commodities such as crude oil stood tall thanks to a sagging dollar.

• US stocks slipped at the start of a first-quarter earnings season that is expected to paint a bleak picture of corporate profits.

• European shares rose on Monday, reversing earlier losses thanks in part to gains in Italian banks and mining stocks.

Major Headlines of the day:

Tata Steel sells UK long-product plant.

Tax liability cloud over Cairn-Vedanta merger.

AC major Blue Star to set up 2 units at Rs215 crore investment.

Trend in FII flows:   The FIIs were net  sellers of  Rs -107.23 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 303.88 Cr, as per the provisional figures released by the NSE

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CS ROCKING PERFORMANCE OF THE DAY-11 APRIL 2016

STOCK FUTURES:

FUTURES INTRADAY:
ASIAN PAINT FUTURE  BUY  CALL 3 TG 
BHARATFORG   FUTURE  SELL  CALL 2 TG 
HUL FUTURE BUY CALL 1 TG 
DIVISLAB BUY CALL SL TRIGERRED 
                 
NIFTY FUTURES:
NIFTY FUTURE SELL CALL  SL TRIGERRED 

OPTION:
HUL 820 CALL BUY CALL 2 TG 
HDFC 1060 PUT BUY CALL HOLD FOR TOMORROW 

OPTION PREMIUM:
JSW STEEL 1300 CALL  BUY CALL 1TG &  HOLD FOR TOMORROW 

STOCK CASH

STOCK CASH INTRADAY:
JUST DIAL  BUY CALL3 TG 
NILKAMAL BUY CALL 3 TG 
 NILKAMAL BUY CALL 3 TG  (BOOKED AT 1380)
TITAN BUY CALL 2 TG 
CENTURYTEX BUY CALL 1 TG (BOOKED AT 597.50)
RUSHIL BUY CALL SL TRIGERRED 

STOCK CASH  PREMIUM:
NILKAMAL BUY CALL 3 TG ( BOOKED AT 1380)& HOLD FOR TOMORROW 
BBL BUY CALL EXIT AT 989-933.15

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INDIAN EQUITY MARKET OUTLOOK-08 APRIL 2016

INDIAN BENCHMARKS may see a lower opening; RBI Policy eyed 

Indian equity benchmarks are likely to witness a mild gap up opening today as the sharp losses in the previous session. SGX Nifty is trading 1.50 points higher. However, caution ahead of the Q4 earnings numbers due in the coming sessions may continue to weigh on local bourses and restrict gains in the markets. Indian shares fell to a three-week low on Thursday as investors took gains off the table, continuing to book profits in recent outperformers as the upcoming quarterly reporting season is expected to be weak. The S&P BSE Sensex and CNX Nifty ended 0.86%-0.89% lower each.

Global Markets:

a. Asian shares extended losses to three-week lows on Friday after bank shares slumped globally, while the yen soared to a 17-month high against the dollar as investors unwound bets against the yen, calculating that any effort by Japan to drive down the yen would be vigorously opposed by other major economies.

b. U.S. stocks tumbled Thursday amid what has been a choppy start to April after a strong run-up since the market low back in mid-February.

c. European equities ended lower on Thursday, with financial shares losing ground and stocks like Skanska and Daimler slumping after trading without the attraction of their latest dividend payouts..

Major Headlines of the day:

SBI, ICICI Bank cut home loan rates.

RCom to migrate CDMA users to Jio's 4G network.

ITC renews 40-year partnership with Starwood Hotels

Trend in FII flows:   The FIIs were net  sellers of  Rs -294.72 Cr in the cash segment on Wednesday while the DIIs were net buyers of  Rs 16.06 Cr, as per the provisional figures released by the NSE.

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