TOP CORPORATE NEWS-06 AUGUST 2015

• BPCL plans to have nearly 50 million tonnes of refining capacity

Bharat Petroleum Corporation ( BPCL) plans to have nearly 50 million tonnes a year of refining capacity in place by FY2021, a 60% jump from its present level of 31 mt.

Over the next six years, BPCL has targeted at least 15 mt of refining capacity from each of its facilities at Kochi, Bina and Mumbai – positive read thru

•L&T seeks shareholders nod to raise $600 million

Larsen & Toubro has sought shareholders nod to raise up to $600 million (about Rs3,200 crore) through issuing securities to meet capital requirement of growing business. The company requires adequate capital to meet the needs of growing business.

• Government to award Rs20,500 crore expressway projects in FY2016

Government to award Rs20,500 crore expressway projects in FY2016 – Positive for IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering, KNR Construction among others

The government has decided to award three expressway projects with a total length of over 500km entailing an investment of Rs20,500 crore this fiscal.

                                                                                                                                                                                                                                                       

• Maruti Suzuki launches S-Cross via Nexa channel

Maruti Suzuki launches its premium crossover S-Cross; first product to be retailed via the Nexa channel. Maruti Suzuki has launched its first premium crossover i.e S-Cross in the India market. The company has offered superior interiors as well as a slew of features to appeal to the prospective consumer. The S-Cross will be exclusively retailed through Maruti’s Nexa distribution channel.

• Rolta wins Smart City and 3D Mapping projects

Rolta India has announced that it has been awarded Smart City and 3D Mapping with City Modelling projects in the Middle East, for a combined value of around $ 15 million.

                                                     

• Dr.Reddy's up after strategic collaboration with Amgen

Dr.Reddy's Laboratories rose over 3%, touching to Rs4325, after the company said it has entered into a strategic collaboration with Amgen to market and distribute Amgen medicines in India. Dr Reddy's Laboratories (Dr Reddy's Lab) said that it has entered into a strategic collaboration with Amgen – one of the world's leading independent biotechnology companies – to market and distribute three Amgen medicines in India in the areas of oncology and cardiology.                                                                                                                        

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Market Commentary & Stock To Watch-06 August 2015

IT stocks led modest gains for key benchmark indices. However, a decline in banking stocks pulled benchmark indices off the day's high. Benchmark indices hovered in green throughout the trading session today, 5 August 2015. The market breadth indicating the overall health of the market was positive. The barometer index, the S&P BSE Sensex, was provisionally up 130.69 points or 0.47% at 28,202.62. Realty stocks edged higher on renewed buying. In overseas markets, Asian and European stocks edged higher after the outcome of a monthly survey showed that China's services sector showed continued strength in July. 

STOCKS TO WATCH

SBIN:  

Buy SBIN above 282 stock may show 300-310 level in coming days, below 282 major support will be 274.

ICICIBANK:

Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.

UNIONBANK:

Buy UNIONBANK above 196 for the target of 208/214 in coming days, keep buy on dips.

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Today’s view on Nifty-06 August 2015

Nifty levels: 

Nifty spot close @8567

Nifty future close @8595

Nifty closed above its resistance level, more buying opportunity as remain above 8500 we may see 8620/8650 level soon.
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INDIAN EQUITY MARKET OUTLOOK-06 AUGUST 2015

INDIAN BENCHMARKS  are likely to open on a cautious note as the global cues look mixed with SGX Nifty trading  7 points higher.                                                  

                                      

Headlines for the day:

Nestle: FSSAI trashes all-clear reports to Maggi from Goa, Mysore labs

L&T seeks shareholders nod to raise $600 million

Federal Bank stares at Rs200-Crore Asset Stress

                                                                                                                                                                                                                                                                                                                                                       

Trend in FII flows: The FIIs were net  buyers of Rs  447.9 Cr in the cash segment on Wednesday while the DIIs were net sellers of Rs   - 189.11 Cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET WRAP UP-05 AUGUST 2015

INDIAN BENCHMARKS  rise to their highest close in nearly two weeks

                                                                    

INDIAN EQUITY BENCHMARKS  rose on Wednesday, marking their highest close in nearly two weeks, led by gains in software exporters such as Infosys Ltd, as investors seeking bargains bought into beaten down stocks. The S&P BSE Sensex and CNX Nifty ended 0.54%-0.60% higher each.

                                                   

Headlines for the day:

Nikkei Services PMI rises to 50.8 in July

Tata Chemicals consolidated Q1 net profit down 13% (YoY)

Canara Bank Q1 net profit down 41% (YoY); stock marginally in red

Shree Cement Q4 cement realization dents earnings

                                                                        

The crucial resistance for Nifty is now seen at 8630 and above this 8670. Support for the immediate term is now placed at 8525 and next support will be 8475.

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TOP CORPORATE NEWS-05 AUGUST 2015

• HDFC to raise Rs5,000 crore via quasi-debt issue

HDFC to raise Rs5,000 crore via quasi-debt issue, to offer NCDs, warrants to FIs simultaneously – positive read thru for HDFC .HDFC is likely to raise roughly Rs5,000 crore through a structured quasi-debt offer to domestic institutions soon. The company is likely to simultaneously issue non-convertible debentures ( NCDs) and warrants to investors that could help it raise funds at a cheaper cost and would be launched in the next couple of weeks. We have buy rating on HDFC Ltd.

• Bharti Airtel rises as Q1FY16 posts good India performance

Shares of Bharti Airtel gained over 2% to Rs 421.80 on NSE as Q1FY16 posts good India performance; data drives the growth .The consolidated topline grew at 2.8% on a qoq basis, with strong growth from the India mobile business,  that grew on the back of strong growth in the data business. The data ARPU’s increased, while the blended ARPU’s remained flat at Rs 198 on a yoy basis.

• Emami consolidated Q1 net profit Rs88 crore

Emami Ltd announced the following Unaudited results for the quarter ended June 30, 2015. Standalone :Net profit at Rs86.81 crore vs Rs65.76 crore (YoY) .Total Income at Rs560.11 crore vs Rs464.38 crore (YoY) Consolidated : Net profit at Rs87.75 crore vs Rs70.81 crore (YoY) .Total Income at Rs608.36 crore vs Rs504.06 crore (YoY).

                                                                                    

• Alstom T&D India bags new orders worth Rs231.7 crore

Alstom T&D India has bagged new orders worth Rs231.7 crore from Power Grid Corporation to supply transformers and shunt reactors for 765/400kV substation situated at Agra in Uttar Pradesh and spare units of 765kV transformers and reactors as part of Eastern and Southern Region Strengthening Schemes. – Positive for Alstom T&D (News came during market time).

• Nestle spurts after Maggi found safe by FSSAI lab

Shares of Nestle India surged 7% to Rs6760 on the NSE after country’s favourite snack Maggi noodles was found safe by govt-approved laboratory – positive read through for the Nestle .The FSSAI-approved laboratory of Central Food Technological Research Institutue (CFTRI) has found Maggi noodles to be in compliance with the country's food safety standards.                                                                                                                        

• Britannia focus on capacity expansion to reduce cost

Britannia: new launches and increase in distribution reach to drive revenue growth; focus on capacity expansion to reduce distribution cost and improving operating efficiencies .Britannia is planning to do a capex of Rs500crore to further expand the capacity (from current levels of 8,00,000 tonne). The expansion of capacity is aimed at reducing the distribution cost and increase the production through in-house facility.

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INDIAN EQUITY MARKET OUTLOOK-05 AUGUST 2015

INDIAN BENCHMARKS  are likely to open on a cautious note as the global cues look mixed with SGX Nifty trading 11 points higher.                                                  

                                      

Headlines for the day:

Nestle's Maggi noodles found safe by govt-approved laboratory

Bain Capital to sell stake in Hero MotoCorp

HDFC to raise Rs5,000 crore via quasi-debt issue                   

Results on August 05, 2015

Bata India, GSK Consumer Healthcare, The Ramco Cement, Shree Cement, Siemens, Tata Chemicals, Canara Bank, Emami, Marico, PTC India, Indraprastha Gas

                                                                                                                                                                                                                                                                                                                                                                             

Trend in FII flows: The FIIs were net  buyers of Rs  118.7 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs   - 112.55 Cr, as per the provisional figures released by the NSE.

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Market Commentary & Stock To Watch-05 August 2015

A divergent trend for index constituents caused modest losses for key benchmark indices. While metal and PSU bank stocks rose, shares of telecom companies and oil exploration and production (E&P) firms dropped. Benchmark indices witnessed high intraday volatility. The barometer index, the S&P BSE Sensex, provisionally settled above the psychological 28,000 level, having alternately moved above and below that mark intraday trade. Earlier, the Sensex had fallen below the psychological 28,000 level amid high volatility in mid-morning trade. The market breadth indicating the overall health of the market was positive. The Sensex was provisionally off 96.54 points or 0.34% at 28,090.52. The BSE Mid-Cap index was provisionally up 1.11%, outperforming the Sensex.  

STOCKS TO WATCH

SBIN:  

Buy SBIN above 282 stock may show 300-310 level in coming days, below 282 major support will be 274.

ICICIBANK:

Buy ICICIBANK above 299 stock may show 325/335 level, remain below 299 more down side is expected.

UNIONBANK:

Buy UNIONBANK above 196 for the target of 208/214 in coming days, keep buy on dips.

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Today’s view on Nifty-05 August 2015

Nifty levels: 

Nifty spot close @8516

Nifty future close @8544

Nifty closed above its resistance level, more buying opportunity as remain above 8500 we may see 8620/8650 level soon.
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TOP CORPORATE NEWS-04 AUGUST 2015

• RBI stays repo rate, CRR; cuts Jan-Mar inflation goal 0.2%

The Reserve Bank of India Tuesday kept the benchmark repo rate unchanged at 7.25 percent as well as the cash reserve ratio (CRR) at 4 percent. However, it trimmed consumer inflation forecast for January-March 2016 by 0.2 percent and said that growth was beginning to look up gradually. The RBI cited lower crude prices and better-than-expected monsoon as the reasons for trimming its January-March consumer inflation target.

• Alstom T&D wins three new contracts

Alstom T&D India has been awarded three new contracts worth approximately Euro 33 Million (Rs231.7 crore) by Power Grid Corporation of India to supply transformers and shunt reactors for 765/400 kV substation situated in Uttar Pradesh and spare units of 765 kV transformers and reactors as part of Eastern and Southern Region Strengthening Schemes.

• Bajaj Allianz ties up with Snapdeal to sell Insurance for 2-wheelers

Bajaj Allianz ties up with Snapdeal to sell Insurance for 2-wheelers – positive read thru for Bajaj Finserv. Bajaj Allianz General Insurance, the general insurance arm of Bajaj Finserv, is tying up with Snapdeal to sell two-wheeler insurance to the growing number of people who are buying motorcycles from the online marketplace. The two-wheeler motor insurance policy will be available only for new vehicles and later it will be rolled out for the used vehicles as well. Given the growing popularity of one line platforms for buying insurance, the company stands to benefit from the tie-up  in terms of lower opex and higher turnover.

• Crude Oil price falls below $50 a barrel

Crude oil price falls below $50 a barrel – Positive for OMC’s, paints, tires . The world’s benchmark oil price fell to less than $50 a barrel Monday for the first time in six months as a sluggish global economy and rampant oil production make crude prices fall and production from United states and Iran continue to put downward pressure on oil price. Positive for industries using crude and its derivatives as raw materials like OMC’s , paints, tires, lubricants for example HPCL, BPCL, Asian paints, Castrol.

• Nestle India to re-introduce Maggie in domestic market

Nestle India will consider introducing new products, including under the Maggi brand, while looking to drive growth of other categories with increased advertising spending, as it looks to overcome the setback from the ban on its Maggie noodles. However bringing back Maggie (top brand for the company) in the domestic market is the top priority of the company. The company will increase spends on Advertisement and promotions to improve the sales of the products in the near to medium.  

                                                                                                                                                                                                                                                       

• Indian Bank revises FCNR interest rate

 Indian Bank said that it has revised its Foreign Currency Non-Resident (banking) term deposit interest rates with immediate effect. For FCNR (B) deposits, in US Dollar terms, the revised interest rate has been fixed at 1.59% for deposits of one year and above but less than two years from the existing 1.515. For deposits of two years and above, but less than three years, the interest rate has been revised to 1.97% from the existing 1.90%, the Chennai-based bank said in a statement.

                                                     

• Ajanta Pharma gets USFDA approval for 3 ANDA

Pharma major Ajanta Pharma said it has received final approval for its 3 ANDA’s (Abbreviated New Drug Application) by the US FDA (Food and Drug Administration). The company has received approval for Montelukast Tablets of 10mg, Montelukast sodium chewable tablets of 4mg & 5mg and Montelukast oral granules, it added. Montelukast Tablets of 10mg is indicated for the treatment of prophylaxis and chronic treatment of asthma and to relieve symptoms of seasonal and perennial allergic rhinitis in patients in the age of two years and above.                                                                                                                        

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INDIAN EQUITY MARKET OUTLOOK-04 AUGUST 2015

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 8 points higher.                                                  

                                      

Headlines for the day:

HCL Tech Q4FY15 revenues inline, Margins miss estimates

Manufacturing PMI grows at fastest pace in 6 months in July

Petrol price cut by Rs2.43; Diesel by Rs3.60 a litre

RBI credit policy is to be announced today

                                                                                                                                                                                                                                                                                                                                                                                                

Trend in FII flows: The FIIs were net  buyers of Rs  350.41 Cr in the cash segment on Monday while the DIIs were net sellers of Rs   -33.36 Cr, as per the provisional figures released by the NSE.

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TOP CORPORATE NEWS-03 AUGUST 2015

• NBCC secures order worth Rs540.81 cr in July

National Buildings Construction Corporation ( NBCC ) announced that the Company has secured total business amounting Rs540.81 crore (approx) from various clients in the month of July, 2015.

• Petrol price cut by Rs2.43; Diesel by Rs3.60 a litre

Petrol price was cut by Rs2.43 per litre and diesel by Rs3.60 a litre, the third reduction in rates this month.

                                                                                    

• IOC cuts non-subsidised LPG price by Rs23.5/cylinder

IOC cuts non-subsidised LPG price by Rs23.5/cylinder to Rs585 in Delhi.

• CESC lines up Rs3,000 crore for renewables

CESC lines up Rs3,000 crore for renewables – positives for wind & solar energy stocks like Inox wind, Suzlon energy .CESC is increasingly focusing on renewable energy and has decided to pump in Rs3,000 crore over 18 months to expand its capacity in this area to 500 MW. CESC  is developing small wind and solar projects and also looking at major solar and wind projects in Rajasthan, Gujarat, Tamil Nadu and Madhya Pradesh. Currently, the company's renewable energy capacity is a 74 MW, both solar and wind. The total capacity, including thermal of CESC and its subsidiaries, is 2,500 MW.

• Kharif acreage goes up 25% to 693.8 hectares

Kharif acreage has gone up 25% to 693.8 hectares till end of 3rd week of July 2015; Skymet expects monsoon season to end with normal rainfall – positive read through for FMCG companies.

• PFS divests entire stake in Ind-Bharath for Rs312 crore

PTC India Financial Services ( PFS) divests its entire stake in Ind-Bharath for Rs312 crore – significant positive for PFS .PTC India has successfully divested its entire stake in Ind-Barath Energy (Utkal) Limited (Ind-Barath) for an amount of Rs311.93 crore). Ind-Barath is setting up a 700 MW coal based thermal power project in Orissa and PFS had invested a sum of Rs105 crores in the same in 2009-10.

                                                     

• Ultratech to raise Rs9,000 crore via NCDs

Ultratech to raise Rs9,000 crore through issue of NCD. The funds are to be utilized for various purposes, including capital expenditure, loan refinancing and prepayment.                                                                                                                         

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INDIAN EQUITY MARKET OUTLOOK-03 JULY 2015

INDIAN BENCHMARKS  are likely to open on a positive note as the global cues look supportive with SGX Nifty trading 10 points higher.                                                

                                     

Headlines for the day:

L&T Q1 margins below estimate; order inflows decline

ICICI Bank zooms as Q1FY16 marks healthy growth in earnings

Sun TV Q1 net profit at Rs197 crore; stock up 9%

Titan drops as weak jewellery sales dent Q1 performance

Results on 3rd August

HCL TECH, ABAN OFFSHOR , HEROMOTOCO , IBULLREALESTATE , BHARAT FORGE

                                                                                                                                                                                                                                                   

Trend in FII flows: The FIIs were net  sellers of Rs  - 277.77 Cr in the cash segment on Friday while the DIIs were net buyers of Rs   1021.34 Cr, as per the provisional figures released by the NSE.

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