Thursday, 27 April 2017

Expect Nifty To Open On Flat To Positive Note: Stewart & Mackertich

Taking global market cues Nifty is expected to open flat to positive. Immediate resistance is placed around 9380. 9420 is the next resistance. Nifty is likely to hold intraday positive momentum as long as it trades above 9300. Downside support is placed around 9260. Further, due to April series F&O expiry we expect Nifty to remain volatile in today’s session.

Previous day, Nifty hit all-time high of 9367 and ended up by 0.49 percent at 9351.85. Early morning positive momentum failed to progress beyond our second resistance of 9380 followed by sharp intraday retracement towards day’s low 9302. 

However, it recovered from day’s low and ended the session with a hammer kind of candle. Ending the session above our resistance of 9340 means upswing may continue for coming sessions as well. Upside resistances are placed around 9380 and 9420.

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Wednesday, 26 April 2017

Nifty May Scale 9500 In May; Over 100 Stocks Gave Bullish Crossover Based On MACD

The moving average convergence and divergence, popularly known as MACD, is a trend following momentum indicator shows that as much as 69 stocks on the BSE and 102 stocks on the BSE witnessed an upwards crossover or bullish crossover of MACD on Tuesday markets hit a fresh record high.

The Nifty closed above its crucial level of 9,300 for the first time ever and if the momentum continues, it is on track to hit 9350-9380 ahead of April month’s expiry on Thursday.

However, there could be some profit booking as Nifty is trading near its crucial resistance levels, but stock specific action is likely to continue.

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Tuesday, 25 April 2017

Sensex Soars 300 Pts, Nifty Hits 9300 For The First Time Ever

Benchmark indices extended rally in afternoon trade, with the Nifty hitting 9300 level for the first time ever despite mixed European cues.

The 30-share BSE Sensex was up 239.04 points at 29,894.88 and the 50-share NSE Nifty rose 72.25 points to 9,290.20.

The broader markets remained strong despite balanced breadth. The BSE Midcap index gained 0.9 percent and Smallcap was up 0.65 percent. About 1433 shares advanced against 1329 declining shares on the BSE.

Biocon and Indian Bank weer top BSE midcap gainers, up 10 percent each.

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Monday, 24 April 2017

Overweight on India; expect it to be a long-term outperformer: Geoff Dennis

The outcome of French elections to result in a stronger Euro against the Dollar. Reacting to the outcome, euro vaulted to five-month peaks as it reduced the risk of a Brexit-like shock and sparking a mass unwinding of safe-haven trades, said a report.

“This is a very good result for risk taking in markets. Mr. Macron should be able to win the second round probably comfortable,” said Dennis.

Commenting on India, he said that emerging markets lost some upside momentum but things will get better as the outcome of French election will boost Euro and weaken the dollar. However, India might not be the biggest beneficiary of any currency volatility.

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Tuesday, 18 April 2017

McNally Bharat's allocation committee took big decision

The Allocation Committee meeting of McNally Bharat was held.

In this meeting, 38,00,000 equity shares were allocated for 25,08,00,000 rupees.
On the BSE, McNally India shares open at a flat Rs 50.00 today, against the previous arrest of 50.10 rupees

After touching a high level of Rs 51.20, the company closed at Rs 50.15 with a marginal increase of 0.05 or 0.10% at the close of the turnover.

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Monday, 17 April 2017

Asian markets drop, Nikkei 57 points broken

On the first day of business week on Monday, business has started with Asian markets falling.

According to Indian time, at around 8.25 in the morning, Japan's Nikkei is down by 57.45 points (0.31%) at 18,278.18. China's Shanghai Composite is running on the red mark with a decline of 0.83%. Singapore's Straight Times is down 0.71%.

In South Korea, Kospi is down 0.38%, while Taiwan's Taiwan weighted is at red mark with 0.55% weakness.

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Thursday, 13 April 2017

Here Are 7 Stocks That Analysts Are Watching Today

Adani Power
Citi has a sell call on the stock with a target of Rs 25. The Supreme Court’s order on compensatory tariff is a big blow for the firm and the research firm sees significant downside risks to the earnings per share estimates.

Tata Power

Citi has downgraded the stock to sell from neutral on the back of SC’s ruling. The target price too has been cut to Rs 79.9 from Rs 83.3. The court’s order will significantly impact return ratios going forward, it said. It prefers NTPC and Power Grid in large caps and CESC in midcaps.

CIMB sees FY18,FY19F earnings cuts for project delays and rupee appreciation for the firm. For FY18, it also saw lower refining and petchem EBITDA from USD 7.6 billion to USD 7 billion.


Bank of America Merrill Lynch has reiterated its buy call on the stock with an increased target of Rs 1,800 from Rs 1,600. Rapid market share to drive in more than 20 percent EPS growth.

Reliance Communications

Deutsche Bank has downgraded the stock to sell with a reduced target price of Rs 30 from Rs 57. The firm could lose around 100-150 basis points revenue share over the next two years and a merger with Jio in the medium-term cannot be ruled out.

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Infosys Q4 Results: Top 10 Key Takeaways From March Quarter

Infosys reported results for the quarter ended March 2017 on Thursday, which was largely in line with Street expectations, but soft guidance for FY18 is likely to weigh on the stock in the near-term.

The stock slipped marginally, but was holding above its crucial support level of Rs 900. The stock was down 1.4 percent to Rs 957 in opening trade.

We have collated a list of top six takeaways from Infosys Q4 results. Infosys missed on dollar revenue guidance as it expects its FY18 constant currency dollar revenue growth at 6.5-8.5 percent, which was lower than analysts' forecast of 7-9 percent.

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Wednesday, 12 April 2017

Infosys Q4 Profit May Fall 3.7%, FY18 Dollar Revenue Growth Guidance Seen At 7-9%

Infosys, the country's second largest software services exporter, is expected to show subdued bottomline growth for January-March quarter but the key factor to watch out for would be its guidance for FY18 and whether the company will meet its FY17 dollar revenue guidance or not.
Profit during the quarter is likely to decline 3.7 percent to Rs 3,570 crore and revenue may fall 0.2 percent to Rs 17,235 crore compared with previous quarter, according to average of estimates of analysts polled by CNBC-TV18.

However, dollar revenue may see some pick up against 1.4 percent degrowth in previous quarter due to RBS deal cancellation and weakness in top clients. It may increase 1.3 percent sequentially to USD 2,584 million as analysts expect some forex tailwind of around 30 basis points from cross currencies.

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Tuesday, 11 April 2017

Stocks In The News: HDFC Bank, Suzlon, Cadila, Sobha, Majesco, Redington, Unitech

-Cadila Healthcare subsidiary Zydus gets US FDA nod for Duloxetine Capsules (used to treat depression & generalised anxiety disorder)

-Sobha deputy MD Ramakrishnan P steps down citing personal reasons

-HDFC Bank board meeting on April 21 to raise Rs 50,000 crore by issuing perpetual debt instruments

-Pincon Spirits says Madhya Pradesh liquor ban will not affect the company

-Aarti Industries to set up innovation complex at Jhagadia, Gujarat spread over 50,000 square feet

-Goodluck India to add 72,000 MTPA to existing facility

-IZMO to issue 6,00,000 preferential shares to EARC Trust -Edelweiss Asset Reconstruction team

-Indian Hotels says K B Dadiseth has resigned as an independent director

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Buy, Sell, Hold: 11 Stocks And 3 Sectors Are On Analysts’ Agenda Today

Tata SteelCredit Suisse expected domestic EBITDA to moderate a bit, but lesser than the peers. It has built in a modest USD 50 per tonne EBITDA for EU operations. There are upside risks to the estimate, given the sharp improvement in spot spread. It expected the management to provide further clarity on Kalinganagar expansion plan.

JSW Steel
Credit Suisse expects JSW Steel?s EBITDA per tonne to moderate to USD 98 against USD 109 in Q3. It did not expect any meaningful drag outside of the standalone operations. Investors would be keenly watching out for a likely formal capex announcement.

SAILCredit Suisse is not building any rise in prices for coal procured through Coal India. A bigger disappointment in sales volumes is likely down 9 percent YoY.

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Monday, 10 April 2017

Stocks In The News: Maruti, Kotak Bank, Religare, Divis, Sobha, Cairn, IOC, GMR

NLC India, GMR

-NLC shortlists GMR, Ind-Barath power projects for acquisition

-Shortlisted projects are GMR Group's 1,370MW coal power project in Chhattisgarh


-Appoints AM Naik as non-executive chairman for 3 years from October 1

-Appoints SN Subrahmanyan as CEO & MD from July 1

Cosmo Films

-Approves setting new production line for specialised polyester films

-New line with capacity of 36,000 mt per year will need investment of Rs 250 crore

Prakash Industries

-Q4 production up 16.7 percent at 1.7 lakh tonne, sales up 19.5 percent at 1.69 lakh tonne

-FY17 production up 13.4 percent at 6.15 lakh tonne, sales up 14.9 percent at 6.10 lakh tonne

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Friday, 7 April 2017

Wall Street Posts Slight Gain, Investors Anxious On Trump Xi Meet

Wall Street's major indexes closed slightly higher on Thursday but finished well off session highs as investors were nervous about upcoming talks between China's President Xi Jinping and US President Donald Trump.

The leaders of the world's two biggest economies are to greet each other at the president's Mar-a-Lago retreat in Palm Beach, Florida, late Thursday afternoon, kicking off a summit that will conclude with a working lunch on Friday.

Investors are anxious for news on China-US trade relations and discussions on reining in North Korea's arms programme, according to market participants.

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Stocks to Watch: DCB Bank, Cipla, GE Power, Gammon Infra and Hindustan Unilever

Due to the news, stocks that are seen today include DCB Bank, Cipla, GE Power, Gammon Infra and Hindustan Unilever.

SMS Pharma - The company raised stake in VKT Pharma.

DCB Bank - The bank will raise Rs 400 crore via QIP.

Hindustan Unilever - The company will cut jobs by up to 15%.

Cipla - The company has made a global agreement with the American company for the treatment of muscle relaxants.

Palerad Technologies - Board of Directors of Palrayed Technologies will consider investing in subsidiaries on April 11.

Gammon Infra - Acquired 24% additional stake in Indira Container Terminal.

KDDL - KDDL's unit, Ethos, has entered into an agreement with Nomos Glaciute.

GE Power - Ge Power got a contract worth Rs 237.6 crore.

Karur Vysya Bank - Bank fixed MCLR 9.1% to 9.5%.

Dynamite Tech - compromised with Israel's Magal Securities.

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Thursday, 6 April 2017

If Sensex, Nifty Crack Blame It On US Fed And Not RBI Policy

While the US market closed with modest losses on Wednesday, they hide the impact they could have on international markets.

Sending the indices tumbling from their intraday gains were the minutes of the March FOMC meeting that showed that the Fed plans to begin unwinding its USD 4.5 trillion balance sheet later this year.

The implications of this could be hugely negative for the global markets.

What this means is that the Fed will start sucking back all the stimulus it has given to the markets all these years.

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Mahindra & Mahindra launches new tractor in market

Mahindra & Mahindra has rolled out a new tractor in the Zivo market.

The 24 HP 4-wheeled tractor line is very good for crops and gardening applications. It has an automatic depth and draft control, which is not in the other tractors of this HP range. Ziva is multi-application in the field of crop care, land preparation, inter-farming and vineyard spraying. Mahindra DI Engine equipped with superior fuel consumption and torque starts with a price of Rs 3.90 lakh.

Mahindra & Mahindra's shares are open at the BSE at Rs 1,297.50, with the increase of Rs 1,290.00, compared to the previous closure of BSE. Its 52-week high level is Rs 1,508.80 and the low level is 1,141.80 rupees.

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HDFC, Reliance Industries, ICICI Bank And L&T Dragged The Market

The 30-share BSE Sensex was down 117.91 points at 29,856.33 and the 50-share NSE Nifty fell 36.60 points to 9,228.55.

HDFC, Reliance Industries, ICICI Bank and L&T dragged the market while Tata Motors and Bajaj Auto were gainers.

"Rupee has rallied strongly on the back of custodial selling. We expect the USD-INR pair to trade in a range of 64.85-65.15/dollar for the day," he added.

Asian markets fell, tracking losses on Wall Street after the Federal Reserve released its March Federal Open Market Committee minutes which was viewed as hawkish.

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Wednesday, 5 April 2017

Stocks In The News: Cipla, Hero Moto, GMR, Ratanmani Metals, McNally Bharat

-Receives final approval for generic Epzicom tablets

-Product will cater to the US Market & will be commercially available shortly

-Company struggled for growth in H1 FY16-17 due to uncertain consumer sentiment

-Struggled for growth in H1 FY16-17 due to Pan Card limit, jewellery industry strike

-Gross margin of jewellery division is likely to be good this quarter

-Optimistic of topline growth in the high teens in the coming year

-Witnessed significant traction in H2 2016-17 despite demonetisation

-High GST rate for jewellery might have some effect on company's growth

March auto sales: Ashok Leyland
-Total sales up 12 percent at 18,682 units versus 16,702 units

-Medium & heavy commercial vehicle sales up 15 percent at 15,258 units versus 13,240 units

-Light commercial vehicle sales down 1 percent at 3,424 units versus 3,462 units
Hero MotoCorp

-Total sales at 6.09 lakh units versus 6.06 lakh units

-Achieves highest financial year sales, FY17 sales at 66.63 lakh versus 66.32 lakh units

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Tuesday, 4 April 2017

NMDC revises iron ore prices

                            NMDC has set new prices of iron ore.

The company has fixed the price of Rs 2,425 per wmt for lump ore and Rs 2,185 per wmt for fines effective from 1st April.

On the BSE, NMDC's stock closed at Rs. 133.60 with a gain of 0.50 / 0.38% on Monday. Apart from this, the 52-week high level of the company has a high level of Rs 152.50 and a low level of 85.30 rupees.

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Trump Amends H1B Rules, Entry Level Techies To Be Hit Hardest

The Trump administration quietly reworked its H-1B visa policy over the weekend, and this is likely to impact entry-level IT workers the hardest. 

The US Citizenship and Immigration Service has released a revised set of H-1B guidelines dated March 31, 2017, which will hit entry-level 'software programmers' and IT companies applying for work visas this H-1B season, which opened Monday.
Currently, there are about 120,000 H-1B holders in the US. Many of them are shipped from countries such as India to work on projects for US companies which look to replace expensive local labor with cheap foreign labour under the guise of ‘knowledge transfer’.

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Monday, 3 April 2017

Top 5 Largecap Stocks Which Rocked The Market In FY 2016-17

Hindalco Industries: Buy | target price of Rs 228

Among the large caps, the stock that gained the most was Hindalco Industries which gave a stellar performance in FY16-17, rallying over 120 percent from the levels of Rs 87 all the way to Rs 195.

Yes Bank: Buy | target price of Rs 1820

In the banking space it was Yes Bank that registered a price rise of 76.76 percent from sub-1000 level to Rs 1529.05.

Maruti Suzuki: Buy | target price of Rs 6720

In the 4-wheeler space, Maruti Suzuki has been the standout performer in FY16-17 with the stock rising 61 percent to Rs 6004 backed by new launches including IGNIS, Vitara Brezza and the Swift.

Tata Steel: Sell | target price of Rs 410

In FY 16-17, Tata Steel has risen by Rs 174, a gain of 54 percent quoting at around Rs 493 against Rs 319 in the same period of previous year.

Bharat Heavy Electricals: Sell | target price of Rs 98

In the capital good space, heavy engineering company Bharat Heavy Electricals has given a whopping 50 percent gain since March 29, 2016 from the levels of Rs 114 to hit 52-week high of Rs 172 on March 21, 2017.

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Stocks In The News: Maruti, Indoco, NTPC, Escorts, IGL, Godfrey Phillips, GMR, IOC

March auto sales

-M&M sales up 6 percent at 56,031 versus 52,718 units YoY

-Eicher Motors Royal Enfield sales up 17 percent at 60,113 versus 51,320 units YoY

-Tata Motors sales up 8 percent at 57,145 versus 53,057 units YoY

-SML Isuzu sales up 26.4 percent at 2,094 versus 1,656 units YoY

-Maruti Suzuki sales up 9.8 percent at 15.68 lakh versus 14.44 lakh units YoY

March tractor sales

-Escorts sales up 31 percent at 7,079 units versus 5,403 units

-M&M sales up 32 percent at 19,337 versus 14,682 units

JSW Steel

-Implements reorganisation plan to reduce cap reduction at Netherlands company

-Have taken steps to write-off loans given to US holding company

-Reorganisation plan entails liquidation of US holding company

Indoco Remedies

-Gets warning letter from US FDA for Goa unit

-US FDA accepted our response to 4 observations but concerned about 2

-2 observations that US FDA concerned about pertain to 1 specific product

-Company is a contract manufacturer for the product that US FDA is concerned about

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Reliance Jio: More than 7.2 million subscribers have a lime subscription

More than 7.2 million consumers of Reliance Jio have subscribed to Geo Prime.

This number is continuously increasing, on which Reliance Industries chief Mukesh Ambani best wishes and thanked all the living consumers. According to the company, Geo Prime is the most successful customer privilege program in the world, in which such a large number of consumers are becoming free paid customers. For this reason, the company has increased the last date of subscribing to Geo Prime from March 31 to April 15.

 Reliance Geo has started the Geo Summer Surprise for Prime Subscribers, in which the consumer will be able to avail services on a complimentary basis for the initial 3 months after taking any plan of Rs 303 (and above). The tariff plan to be paid will start in July after the end of the cautious service. Also, under the mobile portability scheme, any other company's consumers can connect with Geo without changing their number. In addition to international travelers with the best call and data rates in the industry, the Geo International Roaming service is available worldwide.

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