TOP CORPORATE NEWS-05 APRIL 2016

RBI cuts Repo Rate by 25 bps

The Central Bank has cut the repo rate by 25 bps. RBI has also kept the CRR unchanged at 4%

RBI Cuts repo rate by 25 bps to 6.50%.

RBI Keeps CRR unchanged at 4%.

Liquidity conditions stressed by Govt's cash Accumulation.

Expect CPI Inflation to remain around 5% in 2016-17.

Expect economy to grow by 7.6% in FY17.

Petrol price hiked by Rs2.19 per litre, Diesel by 98 paise a litre

There is another hike in petrol price as now a litre costs Rs61.87 for a litre. The increase has been of Rs2.19. While diesel too has seen an upward movement in price by 98 paise to Rs49.31 for a litre (both prices in New Delhi). This has been a second consecutive hike in petrol and diesel prices in last 15 days. The total hike has been of Rs3.09 for petrol and Rs1.90 for diesel.

Aurobindo gets USFDA nod for anti-infective drug

Aurobindo Pharma has announced that the product is expected to be launched in Q2 September 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Polymyxin B for Injection USP, 5 lakh units/vial of Eurohealth International Sarl.

Hero Motocorp March 2016 sales grow 14% YoY

Hero Motocorp March 2016 sales grow 14% yoy on low base; marginally ahead of estimates

Hero Motocorp sales in the month of March 2016 grew 14% yoy to 606,542 units on low base of the corresponding month last year. The sales were marginally ahead of our estimates of 580,000 units.

Adani receives Tamil Nadu Government nod to buy Kattupalli port

As per media reports, Adani Ports has received Tamil Nadu Government nod to buy Kattupalli port from L&T- Positive for L&T.

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INDIAN EQUITY MARKET OUTLOOK-05 APRIL 2016

INDIAN BENCHMARKS may see a lower opening; RBI Policy eyed 

Indian shares poised to open loweras traders resort to a cautious approach ahead of the much anticipated Reserve Bank of India (RBI) monetary policy review while a bearish trend across markets in Asia amid falling oil prices may also sour risk taking appetite. SGX Nifty is trading 61 points lower. Rate sensitive sectors including auto and banking will be in focus today. Indian shares rose on Monday, tracking gains in Asian equities following an upbeat US jobs report, but caution prevailed a day before the Reserve Bank of India's policy meeting at which it is expected to cut interest rates by at least 25 basis points. The S&P BSE Sensex and CNX Nifty ended 0.51%-0.59% higher each. On Monday (April 05, 2016), the BSE SENSEX closed at 25399.65, up by 130.01 points, or by 0.51%, and the NSE Nifty ended at 7758.80, gained by 45.75 points, or by 45.75%.

Global Markets:

• Asian shares and other riskier assets skidded on Tuesday, pressured by slumping crude oil prices and mixed messages from Federal Reserve policymakers on the outlook for U.S. interest rate rises.

• US stocks slumped on Monday as losses for industrials and materials offset sharp gains in health-care shares.

• European shares bounced back from one-month lows on Monday, led higher by gains in defensive stocks, but telecoms fell after talks between Orange and Bouygues on creating a dominant French operator collapsed.

Major Headlines of the day:

Cox & Kings sells majority stake in UK portals.

Adani mulls takeover of SunEdison's India assets.

ICICI Bank tweaks corporate lending norms to trim NPAs.

Trend in FII flows:   The FIIs were net  sellers of  Rs -236.82 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs -333.74 Cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY-04 APRIL 2016

STOCK FUTURES:

FUTURES INTRADAY:
INFOSYS FUTURE  BUY  CALL 3  TG 
RELICAPITAL FUTURE  BUY  CALL 1TG 
                
NIFTY FUTURES:
NIFTY FUTURE BUY CALL 2TG ( 7793)

OPTION:
INFY 1220 CALL BUY CALL 2 TG & HOLD FOR TOMORROW 
RELIANCE CAPITAL 380  CALL BUY CALL 2 TG  

STOCK CASH

STOCK CASH INTRADAY:
KSCL  BUY CALL 2 TG  (BOOKED AT 395.85)
INDIGO BUY CALL 1 TG  
RIIL BUY CALL SL TRIGERRED   

STOCK CASH  PREMIUM:
VADILALIND BUY CALL 3 TG ( BOOKED AT 679.90)  

STOCK SUPER PREMIUM 
RELIANCE CAPITAL HOLD FOR TOMORROW 

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INDIAN EQUITY MARKET WRAP UP-04 APRIL 2016

INDIAN BENCHMARKS: SENSEX CLOSES 130 POINTS UP ON RATE CUT HOPES, NIFTY 50 ABOVE 7750

The domestic equity market began the new week on a strong note, notching up over 100 points gain, powered mainly by Infosys, M&M, Bharti Airtel and Tata Motors, which rose between 4 per cent and 2 per cent. 

BSE benchmark Sensex had slipped into the red, down 49 points, in intraday trade after opening 100 points higher, but rallied in afternoon trade in line with the European markets, which opened weak but bounced back soon after.

Bajaj Auto was a clear winner on the Sensex, after the company reported 305,800 sales for March against 250,604 in the year-ago month. The stock added 1.35 per cent. M&M (up 4.29 per cent), Bharti Airtel (up 3.76 per cent), Infosys (up 3.12 per cent) and Tata Motors (up 2.24 per cent) were other big gainers on the Sensex. 

The S&P BSE Sensex closed at 25,399.65, up 130.01 points or 0.51 per cent while the NSE's Nifty50 ended at 7,758.80, advancing 45.75 points or 0.59 per cent. 

HEADLINES OF THE DAY

Geometric spurts after HCL Tech acquires IT services business

Hexaware drops as Baring Asia backs off from plans to sell stake

Bajaj Auto March 2016 sales grow 22% YoY

The crucial resistance for Nifty SPOT is now seen at 7791 and above this 7832. Support for the immediate term is now placed at 7713 and next support will be 7643.

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TOP CORPORATE NEWS-04 APRIL 2016

ICICI Bank sells part stake in insurance firms for Rs2200 crore

ICICI Bank has sold 9% stake in its general insurance venture ICICI Lombard to Fairfax Financial Holdings for an estimated Rs1,550 crore, also the Bank has sold 2% stake in its life insurance subsidiary ICICI Prudential to Compassvale Investments for about Rs650.

The deal had been announced earlier and was awaiting requisite approvals.

Geometric spurts after HCL Tech acquires IT services business

Shares of Geometric surged 19% to Rs232.90 on NSE in an otherwise flat markets on reports that HCL Technologies has acquired the Geometric Limited’s IT services business in an all-stock deal, neutral for HCL Tech, Positive for Geometric shareholders (each share valued at Rs260 as compare to CMP of Rs196).

Godrej Consumer gains on acquiring 100% stake in Strength of Nature

Shares of Godrej Consumer Products gained nearly 3% to Rs1421.70 on NSE in an otherwise flat markets on back of reports that the company has acquired 100% stake in Strength of Nature, LLC (OPM of 22% higher than GCPL consolidated OPM) thereby focusing on African Wet hair care market ($1bn).

This is positive for GCPL as acquisition is expected to earning accretive from year one of consolidation.

Bajaj Auto March 2016 sales grow 22% YoY

Bajaj Auto March 2016 sales grow 22% yoy led by market share gains and low base of corresponding month; ahead of estimates

Bajaj Auto overall sales grew 22% yoy to 305,800 units in the month of March 2016 and were ahead of our estimates of 2.84 lakh units.

Hexaware drops as Baring Asia backs off from plans to sell stake

Shares of Hexaware dropped 5% to Rs258.10 on NSE as media flash stated that Baring Asia dropped complete stake sale plans in Hexaware (Holds 71% stake).

However, hinted at selling around 20% stake and retaining controlling stake of 51% stake in the company.

The news was sentimentally negative, as street was anticipating a complete stake sale of Baring.

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INDIAN EQUITY MARKET OUTLOOK-04 APRIL 2016

INDIAN BENCHMARKS 

Indian shares are poised to witness a gap up opening on Monday amid optimism among traders ahead of tomorrow’s much anticipated policy decision from the Reserve Bank 

of India ( RBI) which is expected to cut interest rates. SGX Nifty is trading 24.50 points higher. Investors will also focus on the March Manufacturing PMI set for 

release today and the Services PMI later this week, which will offer further cues over the health of the Indian economy. Indian shares fell on Friday, posting their 

first weekly loss in five, as investors braced for yet another weak quarter of earnings and after a torrid session in Asia following tepid Japan business sentiment 

data. The S&P BSE Sensex and CNX Nifty ended 0.28%-0.33% lower each.                                                                      

Global Markets:

• Asian share prices held firm on Monday after solid U.S. payroll data underpinned investor risk sentiment while dovish comments from Federal Reserve Chair Janet Yellen the previous week kept the U.S. dollar in check.

• US stocks ended higher Friday as investors bet that a spate of strong economic data, including the March jobs report, won’t speed up the pace of interest-rate increases by the Federal Reserve.

• European equities tumbled to a one-month low on the first trading day of the quarter on Friday, with energy stocks hit by weaker oil prices while Osram retreated after it was dropped from Apple's top supplier list.

Major Headlines of the day:

• Bajaj Auto to ready a Royal Enfield rival.

• Adani wins nod for Australian coal project.

• India Ratings downgrades Renuka Sugar

Trend in FII flows:   The FIIs were net  sellers of  Rs -214.01 Cr in the cash segment on Friday while the DIIs were net buyers of  Rs -519.91 Cr, as per the provisional figures released by the NSE.

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CS ROCKING PERFORMANCE OF THE DAY-01 APRIL 2016

STOCK FUTURES:

FUTURES INTRADAY:
RELINFRA FUTURE  BUY  CALL 3  TG 
RELINFRA FUTURE  BUY  CALL 3  TG 
DIVISLAB FUTURE  BUY  CALL 3  TG (BOOKED AT 1011.70)

OPTION:
TVS MOTOR 330 CALL BUY CALL 2 TG 
IRB 240  CALL BUY CALL SL TRIGERRED 

STOCK CASH
STOCK CASH INTRADAY:
LAMBODHARA BUY CALL 1  TG   
KITEX  BUY CALL 3 TG  
IRB BUY CALL 1 TG  
BHEL BUY CALL 1 TG  

STOCK CASH  PREMIUM:
VIDEOIND BUY CALL COST EXIT 

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INDIAN EQUITY MARKET WRAP UP-01 APRIL 2016

INDIAN BENCHMARKS: SENSEX FALLS 72.22 POINTS, NIFTY AT 7713.05

The domestic equity indices extended losses and were trading over half a per cent lower on Friday tracking weak start to European markets.

The S&P BSE Sensex has traded about 150 points lower. The gains in ITC, L&T and Asian paints were offset by index heavyweights such as HDFC, Bharti Airtel, Tata Motors, M&M, TCS, and SBI.

The Nifty50 today tested its crucial level of 7,700 on the day 1 of April futures and options series. 

At the end Sensex closes below 72.22 points and Nifty 25.35 points down to 7713.05.

HEADLINES OF THE DAY

Eicher Motors March 2016 CV Sales grow a robust 53%

HCL Technologies close to acquire Geometric

Dr. Reddy’s acquires Rights to Investigational Anticancer Agent E7777

The crucial resistance for Nifty SPOT is now seen at 7750 and above this 7801. Support for the immediate term is now placed at 7643 and next support will be 7582.

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TOP CORPORATE NEWS-01 APRIL 2016

Eicher Motors March 2016 CV Sales grow a robust 53%

Eicher Motors March 2016 CV Sales grow a robust 53%; above estimates

Eicher Motors CV volumes grew 53% YoY to 6,753 units for the month of March 2016, coming better than our estimates of 6,000 units

Improving commercial vehicle industry volumes coupled with increased sales of “Pro” series led to strong volumes for the company.

HCL Technologies close to acquire Geometric

HCL Technologies has agreed to acquire Mumbai-headquartered engineering solutions company Geometric in a share swap deal that values it at $150-200 million. The deal was expected to be announced in a couple of days.

HCL will acquire the 31.09% stake held by Godrej Investments and Godrej & Boyce Manufacturing Company along with the stake of founder and Chief Executive Officer Manu Parpia. The Parpia family owns a 6.73% stake in Geometric.

Dr. Reddy’s acquires Rights to Investigational Anticancer Agent E7777

Dr. Reddy’s Laboratories acquires the Rights to Investigational Anticancer Agent E7777 for U.S, Europe and Certain Emerging Markets from Eisai – Long term Positive for Dr Reddy.

SRF commissions first phases of two manufacturing facilities

SRF Ltd has commissioned first phases of its chemical projects at Dahej and Bhiwadi, with a total investment of Rs34 crore.

Earlier company's board had given approval to establish manufacturing facility for R-134a (Pharma Grade chemical) at Dahej in Gujarat (capex of Rs25 crore) and HFC 134a and HFC 32 at Bhiwadi, used as refrigerant (total capex of Rs12crore).

IDBI Bank gains after selling stake in NSE

Shares of IDBI Bank rose by 3%, touching to Rs71.5, after the state-run bank announces selling 9 lakh shares or 2% stake in National Stock Exchange of India to Life Insurance Corporation of India (LIC).

The stock hit a high of Rs71.50 and a low of Rs70 so far during the day.

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