Closing bell: Sensex falls 793 pts, Nifty ends below 11,600; Bajaj Fin twins top losers.

capitalstars financial research pvt. ltd.

The market completely caught in bear trap after Budget 2019 proposed to increase surcharge on super-rich people and raise minimum public shareholding to 35 percent from 25 percent earlier.
The BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 and the Nifty50 plunged 247.20 points or 2.09 percent to 11,564. About three shares declined for every share rising on the BSE.
The broader markets also fell sharply as the Nifty Midcap and Smallcap indices dropped over 2 percent.
Bajaj Finserv was biggest loser among Nifty50 stocks, falling 10 percent followed by Bajaj Finance, ONGC, NTPC, Hero Motocorp, IOC, Indiabulls Housing Finance, Maruti, L&T, Grasim Industries and SBI which dropped 4-8 percent. However, Yes Bank and HCL Technologies bucked the trend.

HEADLINES OF THE DAY

TCS to announce Q1 earnings on July 9
Yes Bank Management's Clarification :- Clarifying on the reports of instability in the management, Yes Bank managing director and CEO Ravneet Gill on Monday said that the claims were completely baseless and that they indicated a "concerted effort to try and cause a bit of instability.�
Bajaj Finance and Bajaj Finserv Plunge 9% Each :- Sanjiv Bajaj, Managing Director at Bajaj Finance told CNBC-TV18 that large NBFCs playing same role as some banks need to be treated differently and the stress in NBFC space is not because of quality of loans.
Bajaj Consumer said promoter released a pledge on 1.4 crore shares (representing 9.5 percent of total paid up equity) on July 5.
Tata Motors to Announce Quarterly Earnings on July 25.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11260 Support for the immediate term is now placed at 11780 next support will be 11900.

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Closing bell: Sensex falls 395 pts, Nifty below 11,900 after Budget 2019; autos, metals sink.

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Benchmark indices fell sharply for first time in last five straight sessions after Budget failed to boost sentiment.
The BSE Sensex fell 394.67 points to 39,513.39 and the Nifty50 declined 135.60 points to 11,811.20. About two shares declined for every share rising on the BSE.
Yes Bank, NTPC, UPL, M&M and Vedanta were biggest losers among Nifty50 stocks, down 4-8 percent while Indiabulls Housing, IndusInd Bank, Kotak Mahindra Bank and SBI gained 1-3 percent.
Nifty Midcap index fell 1.7 percent. Escorts, Adani Enterprises, Jain Irrigation, Allahabad Bank, BEL, DLF and InterGlobe Aviation fell sharply while ICICI Prudential gained a percent.

HEADLINES OF THE DAY

UPL, Dhanuka Agritech and Coromandel International fell sharply after government announced about zero budget farming.
Bears finally took charge for first time in last five consecutive sessions after the end of much awaited Budget event.
The BSE Sensex plunged 390.41 points to 39,517.65 and the NSE Nifty dropped 134.30 points to 11,812.50.
Finance Minister Nirmala Sitharaman in her first Union Budget speech said the excise duty on other than filter cigarettes of length not exceeding 65 millimetres and exceeding 65 millimetres but not exceeding 70 millimetres increased to Rs 5 per thousand pieces against nil earlier.

The crucial resistance for Nifty spot is now seen at 11960 and above this 12200 Support for the immediate term is now placed at 11600 next support will be 11480.

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Closing Bell: Sensex, Nifty end marginally higher ahead of Union Budget; UPL gains 7%.

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Indian indices ended with marginal gains in a volatile trade on Thursday ahead of Union Budget to be presented on July 5.
At close, the Sensex was up 68.81 points at 39,908.06, while Nifty was up 21.20 points at 11,938. About 1222 shares have advanced, 1195 shares declined, and 172 shares are unchanged.
UPL, Bharti Airtel, UltraTech Cement, Britannia Industries and Tata Motors were among major gainers on the Nifty, while losers were Yes Bank, Tata Steel, Titan Company, Zee Entertainment and JSW Steel.
Among sectors, except metal and pharma all other indices ended higher led by the PSU bank, auto, FMCG, energy, IT, and infra.

HEADLINES OF THE DAY

Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles and worries about the global economy.
European markets trade higher: European shares hovered at more than one-year high on Thursday as Italian banks gained on relief that the country avoided a EU disciplinary action over its public finances and investors took heart from signs that U.S.-China trade talks were back on track.
Force Motors June auto sales: The company's total sales down 17.2% at 2,210 units against 2,669 units, YoY.
Tata Motors June auto sales: Total JLR UK sales up 5% at 9,433 units against 8,984 units. Total Jaguar UK sales down 0.7% at 2,938 units against 2,960 units and total Land Rover UK sales up 7.8% at 6,495 units versus 6,024 units, YoY.

The crucial resistance for Nifty spot is now seen at 12000 and above this 12260 Support for the immediate term is now placed at 11800 next support will be 11660.

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Closing Bell: Nifty holds 11,900 in volatile trade, Sensex flat; Indiabulls Housing up 7%.

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Benchmark indices ended marginally higher in the volatile trade on July 3 with Nifty able to hold 11,900.
At close, the Sensex was up 22.77 points at 39,839.25, while Nifty was up 6.50 points at 11,916.80. About 1308 shares have advanced, 1146 shares declined, and 168 shares are unchanged.
Indiabulls Housing, IndusInd Bank, ITC, Zee Entertainment and Grasim Industries were among major gainers on the Nifty, while losers were Eicher Motors, GAIL, Tech Mahindra, Vedanta and Dr. Reddy�s Labs.
Among sectors, auto, IT ended lower, while some buying seen in the energy, infra, PSU bank and FMCG.

HEADLINES OF THE DAY

HDFC to consider Rs 45,000 crore NCDs issue: The board of director of the company in it meeting scheduled on August 2 shall consider issue of NCDs aggregating to Rs 45000 crore on a private placement basis.
Lupin has received approval for its Cinacalcet Tablets, 30 mg, 60 mg, and 90 mg from the United States Food and Drug Administration (USFDA)
Europe trades higher: Action on world markets focused on bonds on Wednesday, with a fresh slide in benchmark debt yields on simmering global trade war and recession fears, central bank easing bets and ebbing oil prices.
Lupin receives USFDA approval: The company has received approval for its Phenylephrine and Ketorolac Intraocular Solution, 1%/0.3%, from the United States Food and Drug Administration (USFDA).
LIC Housing Finance appointed Mr Sanjay Kumar Khemani as Non- Executive Director Non Independent of the company w.e.f. July 01, 2019.

The crucial resistance for Nifty spot is now seen at 12060 and above this 12200 Support for the immediate term is now placed at 11760 next support will be 11620.

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Closing bell: Nifty ends above 11,900, Sensex gains for second day; ONGC leads.

capitalstars financial research pvt. ltd.

Bharat Heavy Electricals said Competent Authority has approved the appointment of Dr Nalin Shinghal as Chairman & Managing Director (CMD) of the company for a period of 5 years.
Benchmark indices rebounded in afternoon with the Sensex rising 89.67 points to 39,776.17 and the Nifty50 climbing 27.80 points to 11,893.40 but the market breadth remained in favour of declines.
About 1,247 shares declined against 1,029 advancing shares on the BSE.About 1,247 shares declined against 1,029 advancing shares on the BSE.

HEADLINES OF THE DAY

Jindal Steel and Power has denied the charges by CBI against the company and its promoters in Urtan Coal Block case. Terming the CBI chargeshgeet faulty, the company in an exchnage filing said, "JSPL reiterates that our Company has done no wrong and we are confident that the truth will emerge during the course of the judicial process/trial, vindicating our stand."
European stocks trade higher again after US President Donald Trump said that trade talks with China have already begun. Britain's FTSE rose 0.3 percent.
Strides Pharma Science said US health regulator USFDA classified company's Puducherry facility as Official Action Indicated (OAI). Stock down 4 percent.
Yes Bank shares plunged nearly 7 percent intraday after a media report indicated that Mumbai-based borrower defaulted on interest payment to private sector lender.
Alembic Pharmaceuticals shares rallied nearly 6 percent intraday as the US health regulator approved Febuxostat tablets that lower uric acid levels.

The crucial resistance for Nifty spot is now seen at 12060 and above this 12200 Support for the immediate term is now placed at 11760 next support will be 11600.

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Closing Bell: Nifty ends above 11,850, Sensex up 290 pts; Zee Entertainment gains 5%.

capitalstars financial research pvt. ltd.

Benchmark indices ended strong on July 1 with Nifty finished above 11,850 level.
At close, the Sensex was up 291.66 points at 39,686.50, while Nifty was up 76.70 points at 11,865.60. About 1239 shares have advanced, 1303 shares declined, and 167 shares are unchanged.
Zee Entertainment, Dr Reddys Labs, Bajaj Auto, Tata Motors and Eicher Motors were top gainers on the Nifty, while losers were BPCL, ONGC, IOC, Coal India and HCL Technologies.
Among sectors, except metal and energy, all other sectoral indices ended higher led by auto, pharma, FMCG, IT and infra.

HEADLINES OF THE DAY

Max Financial Services appointed Jatin Khanna as Chief Financial Officer and V Krishnan has been appointed as company secretary and compliance officer of the company effective from July 1, 2019.
SBI to raise Rs 7000 crore: SBI in its meeting held on July 1 approved to raise AT 1 Capital up to an amount of Rs 7,000 crore by way of issuance of Basel-lll compliant debt instrument in rupee and/or any other convertible currency through a public offer or private placement to overseas and/ or Indian investors.
Jet Airways gains 5%: Jet Airways shares were locked at 5 percent upper circuit at Rs 70.95 on July 1 after reports indicated that Hinduja Group and Etihad Airways consortium is in the race to buy cash-strapped airline.
Reliance Infrastructure plans to monetise Reliance Center: Reliance infrastructure plans to monetize its marquee Reliance Center Office located in Santacruz East, Mumbai. Reliance Center is an ultra-modern state-of-the-art office building with over 6.95 lakh square feet area on a plot of 15,514 square meters.
M&M June sales numbers: M&M sold 17,723 utility vehicles in June 2019, a growth of 8% over June 2018. The passenger vehicles (PV) segment sold 18,826 vehicles in June 2019, as against 18,137 vehicles during the same period last year, a growth of 4%.

The crucial resistance for Nifty spot is now seen at 11960 and above this 12100 Support for the immediate term is now placed at 11660 next support will be 11520.

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CapitalStars News Update: Demand of import duty gives pricing power to paper industry; 3 stocks could give 20-23% return

Manali Bhatia

China being the major consumer of paper worldwide at 106 million tonnes, followed by the US at 71 million tonnes and India sharing the same scale of population as in China consumes a very little share which makes us understand the fact that India has a lower penetration rate and enjoys a greater scope of growth.

Talking particularly of the packaging sector, around 55 percent of the global consumption of paper is in wrapping and packaging. India is still behind in this particular segment. Plastic used to be the first choice of manufacturers for packaging.

In the recent past, state governments have taken a series of measures to ban plastic and ensured strict compliance in plastic industry. This move has helped gain traction for paper packaging industry, though not fully scaled up yet, and would increase its demand in the coming years. Also, a robust demand in food industry, mono cartons in the pharma sector, and multiple orders online is expected to drive substantial demand for paper packaging.

Secondly, China has banned import of certain waste grade of paper owing to environmental concerns resulting in decrease of waste paper prices. India which imports around 40 percent of waste paper stands to benefit out of the same. As already India has scarcity of Pulp wood, the raw material used for manufacturing paper, and in the coming years owing to environmental concerns this scarcity is expected to shoot up further, giving pricing power to this industry. Attributes to this pricing power is also due to limited production (68.58 lakh tones) and increase in consumption (109.27 lakh tones).

Thirdly, there is a demand by major players to increase import duty on paper products, currently at 0 percent as per FTA. If it does, it would also provide benefit to this sector.

Also, the “Going digital” slogan was expected to be major slowdown in the paper sector. But, nevertheless, it should be known that paper packaging would be a boon for this industry.

JK Paper 

The last quarter has been the best for FY19. A surge in price of paper has contributed to an upside in revenue. Moreover, most of the pulp is derived from plantations close to their manufacturing units attributing to reduction in material costs and expansion of margins.


The company is having two large integrated paper manufacturing units with combined capacity of 4,55,000 TPA and is already running at 100 percent capacity utilization. At the Sirpur plant, two machines will start producing from the second quarter and the other two machines will be ready for production by September-October 2019. Thereby, the full capacity will be used for production purposes by October.

This additional expansion will help grow by at least 20 percent in volume terms. Furthermore, an expansion plan is in line for new packaging board machine and pulp mill in Gujarat, awaiting environmental clearance where an additional new board machine of 1.7 lakh tone or two lakh ton would be added.

Also, it would be putting up a pulp mill of almost 1.5 lakh ton capacity in the next two years.

The company has a healthy financial profile; the net debt has been brought down significantly to Rs 700 crore in fiscal 2018-19 and the surplus cash being generated in going ahead will be used for repaying the debts.

Huhtamaki PPL

Being having strong legacy, a unique client base and relative inelasticity of FMCG sector (derives 80-90 percent of revenue) to economic cycles, coupled with global footprint of parentage, and deep market penetration; aids company to make profits in long run.

In 2018, it suffered from extra provisioning on account of income tax and interest. However, from Q4 CY 18, most issues have been settled down and delivered vigorous Q1 CY19 results. Forthcoming, it expects topline to grow at 10-12 percent and likely to see 60-80 Bps ramp up in operating margin in the next two years. But, the margin growth depends on upcoming monsoon, scenario of FMCG sector and volatility in crude oil prices.

Increasing capacity utilization to a maximum of 80-85 percent, improving demand for flexible packaging, and NASP initiatives would enable to improve its volume growth and boost revenues as well as profits ahead. In addition, the acquisition of PPIL and Ajanta Packaging (India) would help consolidating its position in pressure sensitive label business, and is likely to be EPS accretive as well, which could help to expand strong foothold and growth too.

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Closing Bell: Market Live: Indices at day's low with Nifty below 11,800, Sensex falls 150 pts; pvt banks, metal stocks drag.

capitalstars financial research pvt. ltd.

European markets traded marginally higher as investors look for developments at the G-20 summit in Osaka, Japan. President Donald Trump and Chinese President Xi Jinping are likely to meet to resolve ongoing trade war issue.
On the sectoral front, PSU Banks is the top gainer, up 2.01 percent on Nifty. Nifty metal is the biggest loser, down 1.51 percent.
Benchmark indices are trading near day's low with Nifty down 33.50 points or 0.28 percent at 11,808. Sensex is down 114.09 points or 0.29 percent at 39,472.32. About 1028 shares have advanced, 1243 shares declined, and 146 shares are unchanged. GAIL, Tech Mahindra and NTPC are among the biggest winners, while Yes Bank, Vedanta, Bharti Infratel are among the top losers.

HEADLINES OF THE DAY

Bank of Baroda shares gained 3 percent intraday despite global brokerage Credit Suisse maintaining its bearish call on the stock.
Torrent Pharmaceuticals shares gained 1.4 percent intraday on June 28 after global brokerage house Credit Suisse retained its positive stance on the stock due to good India business.
Glenmark Pharmaceuticals in its BSE filing said it has received ANDA approval for Ezetimibe and Simvastatin tablets, which are available in 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg strenghts.
Shares of Maruti Suzuki India rose 1 percent intraday Friday after brokerage house Citi maintained buy rating but cut target to Rs 7,400 from Rs 8,000 per share.

The crucial resistance for Nifty spot is now seen at 11900 and above this 12060 Support for the immediate term is now placed at 11640 next support will be 11500.

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Closing Bell: Nifty ends June series below 11,850, Sensex closes flat; Tata Motors gains 3%.

capitalstars financial research pvt. ltd.

Market remained volatile on June 27 as Nifty ends flat on the last day of the June F&O series.
At close, the Sensex was down 5.67 points at 39,586.41, while Nifty was down 3.40 points at 11,844.10. About 1388 shares have advanced, 1121 shares declined, and 162 shares are unchanged.
M&M, Tata Motors, Indiabulls Housing, Eicher Motors and Bharti Infratel were among major gainers on the Nifty, while losers were Tech Mahindra, HCL Tech, Hindalco, Reliance Industries and UPL.
Among sectors, buying was seen in the auto stocks, while IT, metal and energy stocks remained under pressure.

HEADLINES OF THE DAY

Credit rating agency ICRA has upgraded the rating of Repro India to BBB+ (Stable) to the term loan and [ICRA) A2 to the short term non fund based limits. The outlook on the long-term rating has been revised from 'Positive' to 'Stable'.
Oil slid to around USD 66 a barrel on Thursday, pressured by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite the prospect of continued OPEC curbs.
Shares of Axis Bank gained over 2 percent intraday June 27 on a report of likely share sale by the company.
Titan Company, SBI, ICICI Bank, HDFC Bank, TCS, Bajaj Finance, Bajaj Finserv and Power Grid hit all-time highs.

The crucial resistance for Nifty spot is now seen at 11960 and above this 12060 Support for the immediate term is now placed at 11720 next support will be 11600.

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