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INDIAN EQUITY MARKET WRAP UP-05 MARCH 2015

INDIAN BENCHMARKS edged up; consumer and healthcare stocks rise

INDIAN EQUITY BENCHMARKS edged up on Thursday in a volatile session as consumer and healthcare stocks such as Sun Pharmaceutical Industries rose with investors favouring defensive bets, though losses in telecoms and banks capped gains. The S&P BSE Sensex and CNX Nifty ended 0.23%-0.17% higher each.

· Adani Power rises on winning Jitpur coal mine

· Crompton Greaves gains on positive news actions

· Pipavav Defence drops on stake acquisition by RInfra

The crucial resistance for Nifty is now seen at 9119 and above this 8992. Support for the immediate term is now placed at 8671 and next support will be 8467.

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TOP CORPORATE NEWS-05 MARCH 2015

·Aban Offshore gains after redeeming bonds
Shares of Aban Offshore rose over 8%, touching to Rs519.5, after the company's two wholly owned step-down subsidiaries have redeemed the outstanding bonds issued by them.

·FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index
Stock market index provider FTSE Group has added Bosch and raised the shares of eight other Indian companies, including Yes Bank, to large-caps from mid-cap earlier in its Asia Pacific ex-Japan index.
FTSE's changes, which came after a semi-annual review of indices, may lead to net inflows of nearly $150 million in Indian shares and may help soothe worries about huge India overweight positions after a potential rise in the country's weighting by peer MSCI, as per reports.

·Lok Sabha passes Coal Mines bill to allow e-auction
Lok Sabha passed the Coal Mines bill yesterday to allow e-auction of coal blocks. Hence, the Coal Mines (Special Provisions) Bill, 2015, would replace two ordinances issued by the government..

·DHFL raises over Rs800 crore via QIBs
Dewan Housing Finance Corporation Ltd ( DHFL) today said it has raised Rs809.61 crore by issuing shares to institutional investors.The company said it has issued and allotted 1,69,31,102 equity shares to the Qualified Institutional Buyers ( QIBs) at a price of Rs478.18 per equity share, including a premium, aggregating to Rs809.61 crore.

·Fineotex Chemical establishes Wholly owned subsidiary
Fineotex Chemical has established a wholly owned subsidiary as a ' Free Zone Enterprise' in RAK Investment Authority Zone in the United Arab Emirates ( UAE) for doing the business of specialty chemicals.

·Asian Paints to get concessions for new plant
Asian Paints to get concessions for new plant in Andhra Pradesh – positive read through for the stock.The Andhra Pradesh Government approved the proposal of Asian Paints Limited for setting up of a Rs1750 crore Greenfield paints manufacturing unit near Visakhapatnam. The State government has also approved VAT rebate and other concessions for the company.

·SC agrees to transfer all cases related to quadric cycles
The Supreme Court has agreed to transfer all cases pertaining to introduction of quadric cycles to itself and put a stay on all petitions against the proposed launch. Eight writ petitions had been filled in various courts across the country challenging introduction of quadric cycles. The government had on February 5th requested clubbing and transfer of all cases related to quadric cycles to SC. The move is sentimentally positive for Bajaj Auto.

·Tech Mahindra to expand operations
Tech Mahindra announced that it has inaugurated its Vietnam sales office in Hanoi, bringing jobs, IT expertise and expanding operations in the country and across the region. Tech Mahindra has been working with customers, especially in the banking sector, in Vietnam since 2012.

INDIAN EQUITY MARKET OUTLOOK-05 MARCH 2015

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

Headlines for the day:

Cairn India announces 58% cut in FY16 capex projection to $500 million

Adani Power, Usha Martin bag mines in 2nd leg of coal auction

SBI's up to Rs15,000-cr share sale likely by April-end

Trend in FII flows: The FIIs were net buyers of Rs 2786.24 cr in the cash segment on Wednesday while the DIIs were net buyers of Rs. 16.89 cr, as per the provisional figures released by the NSE.

Sensex, Nifty rebound amid consolidation; Pipavav falls 10%

The Sensex rose 62.50 points to 29443.23 and the Nifty advanced 6.75 points to 8929.40.

About 365 shares have advanced, 140 shares declined, and 97 shares are unchanged on the BSE.

M&M, Sun Pharma, ITC, Cipla, Bajaj Auto, BHEL, Tata Motors and L&T are prominent gainers in early trade while ICICI Bank, NTPC, GAIL, Infosys, HUL and Jindal Steel are under pressure.

Reliance Infrastructure gained 2 percent and Pipavav Defence tanked 10 percent. Reliance Infrastructure has acquired 18 percent promoter's stake in Pipavav Defence for Rs 819 crore at Rs 63 apiece.

The Indian rupee has opened lower, down 7 paise to 62.32 a dollar compared to 62.25 a dollar in previous session.

INDIAN EQUITY MARKET WRAP UP-04 MARCH 2015

INDIAN BENCHMARKS fall on profit-taking after hitting record highs

INDIAN EQUITY BENCHMARKS fell on Wednesday, retreating from record highs hit earlier in the session, as the initial surge after an unexpected rate cut by the central bank was offset by profit-taking and on speculation foreign investors sold blue-chips. The S&P BSE Sensex and CNX Nifty ended 0.72%-0.82% lower each

·   RBI cuts repo rate by 25 bps to 7.5%; CRR unchanged

·   HSBC Services PMI hits 8 month high in February

·   Feb coal imports jump 31% YoY

·   Sugar output up 14% at 19.4 million tonne in Oct-Feb

The crucial resistance for Nifty is now seen at 9116 and above this 9007. Support for the immediate term is now placed at 8669 and next support will be 8894.

TOP CORPORATE NEWS-04 MARCH 2015

·RBI Rate cut boosts Banking Sector
The Reserve Bank of India (RBI) reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.75% to 7.5% with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 6.5%, and the marginal standing facility (MSF) rate and the Bank Rate to 8.5% with immediate effect.RBI kept the cash reserve ratio ( CRR) of scheduled banks unchanged at 4% of net demand and time liabilities (NDTL).

·SPARC surges on USFDA approvals for antiepileptic drug
Sun Pharma Advanced Research Company (SPARC) has got USFDA approval for its New Drug Application (NDA) for ELEPSIA XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg).ELEPSIA XR is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy.

·HSBC Services PMI hits 8 month high in February
The HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. The latest numbers come on a day when the Reserve Bank of India, in a surprise move, cut interest rates by 25 bps.

·Government bonds hit 20-month high
Government bonds surged to their highest in nearly 20 months while the rupee jumped to a one-month high on Wednesday after the Reserve Bank of India (RBI) lowered interest rates, in a move that came earlier than expected. The RBI lowered its key policy repo rate by 25 basis points to 7.5%, its second inter-meeting cut this year on the back of easing inflation and what it said was the 'weak state' of parts of the economy.

·Parliament passes bill to ease mining policy
Mining bill passed by parliament; to ease mining policy and to do business - Positive for Sesa Sterlite and Tata Steel but negative for NMDC. The mines and minerals development and regulation (MMDR) Bill 2015 has been passed by parliament. The changes proposed in the bill are likely to ease bottlenecks in the sector by giving more power to the centre over states.

·Thomas Cook surges on creating dedicated student travel vertical
Thomas Cook rose nearly 9%, touching to Rs216.8, after the company said it has created Travel Quest, a dedicated student travel vertical with its intent to focus on India's emerging student segment.
Thomas Cook (India), on the occasion of the finals of the Thomas Cook Travel Quest, India's first national travel quiz for school students, the company announced its intent to focus on the student market via its Travel Quest Study Tours.

·Ranbaxy loses approvals, exclusivity of 2 drugs in US
Ranbaxy loses approvals, exclusivity of 2 drugs in US in a latest court verdict; sentimentally negative (but impact already factored in).Ranbaxy Laboratories' tentative approvals for its generic versions of digestive disorder drug Nexium and antiviral Valcyte along with 180-days marketing exclusivity stands canceled following a US court decision.

·HDIL plans selling Baroda land parcel
HDIL has put on the block an industrial plot in Gujarat as part of its plans to reduce debt .The 113.47-acre land parcel is adjacent to the Ranoli railway station, on the Ahmedabad-Vadodara corridor, and falls under the jurisdiction of Vadodara Urban Development Authority. Over the last year, HDIL has reduced its debt by nearly Rs685 crore to Rs3,142.4 crore as of December 2014.

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INDIAN EQUITY MARKET OUTLOOK-04 MARCH 2015

INDIAN BENCHMARKS are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 123 points higher

Headlines for the day:

RBI cuts repo rate by 25 bps to 7.5%

Bharti Airtel & China Mobile enters into a partnership for promoting 4G

L&T bags Rs2215-cr worth orders in last two months

Trend in FII flows: The FIIs were net buyers of Rs 772.92 cr in the cash segment on Tuesday while the DIIs were net sellers of Rs. -303.88 cr, as per the provisional figures released by the NSE.

Sensex hits 30000, Nifty at 9100 on RBI move

The Sensex is up 407.43 points or 1.4 percent at 30001.16, and the Nifty is up 112.90 points or 1 percent at 9109.15. About 533 shares have advanced, 94 shares declined, and 93 shares are unchanged.

The Reserve Bank of India signaled that it was convinced by the fiscal consolidation measures announced in the Budget. The RBI has kept the cash reserve ratio (CRR) unchanged at 4 percent.

The bank stocks with major gainers like SBI, ICICI Bank, Axis Bank and HDFC. M&M is also up 2 percent. Among the losers are Dr Reddy's Labs, GAIL and Wipro.

The Indian rupee opened higher by 26 paise at 61.66 per dollar.

INDIAN EQUITY MARKET WRAP UP-03 MARCH 2015

INDIAN BENCHMARKS marks record closing high on budget's infra push

INDIAN EQUITY BENCHMARKS rose to a record high led by gains in Reliance Industries after CLSA said the conglomerate could report a record profit for the fourth quarter. The S&P BSE Sensex and CNX Nifty ended 0.46%-0.44% higher each.

·   Automobile sales in February 2015: Rural demand under pressure

·   IL&FS Transportation bags Rs251 crore order

·   L&T Construction wins order worth Rs2215 cr

·   Moody’s downgrades Central Bank of India, IOB

The crucial resistance for Nifty is now seen at 8977 and above this 9054. Support for the immediate term is now placed at 8787 and next support will be 8674.

TOP CORPORATE NEWS-03 MARCH 2015

·Future Retail plans to raise funds
Future Retail plans to raise up to Rs1500 crore through debt instruments to replace high cost loans and to invest on brand building and marketing. The company is seeking approval from its shareholders for the proposal of raising up to Rs1500 crore through issue of non-convertible debentures on private placement basis.

·SKS Micro rises on regulating and refinancing MFI
SKS Microfinance rose over 2%, touching to Rs466.2, after proposed Micro Units Development and Refinance Agency ( Mudra) Bank would be responsible for regulating and refinancing micro finance institutions ( MFI).New regulator takes out tail risk of interference by states in sector, which was a key overhang for the sector, according to reports.

·Coal India drops on quoting ex-dividend today
Shares of Coal India dipped 5% at Rs377.90 on the NSE after the stock turned ex- dividend for Rs20.70 per share today.The stock opened at Rs373.50 and touched a low of Rs373 on the BSE.
The board of directors of Coal India at its meeting held on February 27, 2015, had approved payment of interim dividend for the financial year 2014-15 @ Rs20.70 per share of the face value of Rs10.

·Nectar jumps on European GMP approval
Share of Nectar Life sciences jumped over 15%, touching to Rs40.3, after the company said it has received European GMP approval for its Cephalosporin active pharmaceutical ingredients manufacturing facility in Dera Bassi, Punjab.

·Nucleus announces global collaboration with Red Hat
Nucleus Software Exports announced a collaboration with Red Hat. The collaboration means Nucleus Software can offer banks and finance companies significant speed and cost benefits through a wider choice of technology platforms on which to run its market leading share.

·RBI committee suggests revised priority sector guidelines
RBI internal committee has come out with revised guidelines for lending to the priority sector, with loans to medium enterprises, sanitation and renewable energy sectors coming under the ambit of priority sector lending. Overall priority sector target is maintained at 40% and target for lending to the agriculture sector has also been retained at 18% of ANBC.

·Government to set up monetary policy panel for inflation targeting
India has formally adopted inflation targeting whereby the government and the RBI agreed to set a consumer inflation target of 4%, with a band of +/-2%, from the financial year ending in March 2017.

This new framework will decrease the uncertainty around the decision-making process and will fix accountability, hence positive for overall economy and banking sector.

·Bharti Airtel, China Mobile to collaborate
Top telecommunications carrier Bharti Airtel said it would collaborate with Mobile");'> China Mobile on growing fourth-generation ( 4G) mobile data services.
The two companies will also work on a joint strategy for procurement of 4G devices including smart phones, Bharti Airtel said.

·Posco, LG sign letters of intent to buy coal from Adani
Posco and LG have signed letters of intent to buy coal from Adani’s coal mine in Queensland, Australia- Positive for Adani Enterprise.As per media reports, Korean steel giant Posco and energy and electronics major LG have signed letters of intent (LoI) to buy five million and four million tonnes of coal, respectively, from the Adani Group's $16 billion Carmichael coal mine project in the Galilee basin in Queensland, Australia – Positive for Adani Enterprise

Sensex, Nifty flat; Coal India falls 5%, Sun Pharma up 2%

The Sensex is down 34.04 points at 29425.10 and the Nifty is down 17.55 points at 8939.20. About 492 shares have advanced, 215 shares declined, and 100 shares are unchanged.

Sun Pharma, HDFC, TCS, Reliance and Cipla are top gainers in the Sensex. Coal India tanks 5 percent, while M&M, Tata Motors, Axis Bank and ITC are laggards.

The Indian rupee opened flat at 61.89 per dollar versus 61.87 Monday.

INDIAN EQUITY MARKET OUTLOOK-03 MAR 2015

INDIAN BENCHMARKS are likely to remain in a tight range with negative bias following mixed global cues and weak core sector growth data. SGX Nifty is trading 5.50 points down.

Headlines for the day:

Coal India's Apr-Feb output is 437 MT, misses target.

TVS Motor reports 15% growth in February sales.

GAIL not keen on pact with Iranian companies: Oil Minister

Trend in FII flows: The FIIs were net buyers of Rs 424.79 cr in the cash segment on Monday while the DIIs were net buyers of Rs. 180.35 cr, as per the provisional figures released by the NSE.