- The Reserve Bank of India has approved Canada Pension Plan Investment Board's request to increase its stake in Kotak Mahindra Bank to over 5% and below 10% of the bank's paid-up capital.
- The technical outlook suggests buying Kotak Mahindra Bank in the range of Rs. 803-806, with a target price of Rs. 822.50 and stop loss of Rs. 795.50.
- The technical outlook also suggests buying BPCL in the range of Rs. 598-602, with a target price of Rs. 614.50 and stop loss of Rs. 592.
#ChoiceBroking #MorningTea - Global View: US stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced
slightly after two more Federal Reserve officials pushed the case for a rate hike.
Reliance Industries plans to raise $1.5 billion in foreign currency bonds in two tranches of $1.36 billion and $140 million to refinance existing loans. The bonds will mature in 43 months. Recently, RIL raised $225 million in 10-year bonds bearing an interest rate of 2.512% annually.
State Bank of India cuts its base lending rate by 0.4% to 9.3% following a 0.5% cut in the RBI's repo rate. SBI will also lower deposit rates by 0.25%.
Technical indicators suggest buying Reliance Industries between 837-841 and State Bank of India between 240-242 based on the targets and
HPCL is experimenting with dynamic fuel pricing at its retail outlets to compete with private players. Dynamic pricing means fuel prices could change flexibly. If successful, other fuel retailers may have to follow suit. Technically, HPCL stock has been in an uptrend and could continue its upside momentum. Motherson Sumi is acquiring a automotive business unit in Hungary for EUR 10.4 million. Technically, Motherson Sumi stock has broken out of its range and robust upside is expected. Asian shares opened mixed and the Indian market is expected to open flat to positive.
NBCC (India) Ltd has won a work order worth Rs 440 crore from ESIC for construction of hospitals in Uttarakhand and Madhya Pradesh. The technical outlook is positive, and the analyst recommends buying NBCC in the range of Rs 251-253 with a target price of Rs 259 and stop loss of Rs 248. IRB Infrastructure has bagged a six-laning project from NHAI. The technical outlook and recommendation is also positive for this stock. Asian shares opened slightly higher ahead of policy decisions from the Bank of Japan and US Federal Reserve. The Indian market is expected to open flat to positive.
#ChoiceBroking #MorningTea : The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and
Alphabet helped lift the Nasdaq to its highest close in over a year.
The document provides an analysis and summary of recent news and events related to stocks. It discusses ICICI Bank launching new affordable housing loans backed by mortgage guarantees in partnership with IMGC. Technical analysis is provided for ICICI Bank and Just Dial stocks, recommending buy ranges. US economic data boosted markets and hints of no September rate hike fueled optimism. Asian markets extended gains on Chinese and US market strength. Bulk deals and upcoming corporate actions are summarized. Disclaimer and contact information is also provided.
Adani Ports and Special Economic Zone Ltd raised Rs. 1000 crores through issuing non-convertible debentures on private placement basis. The stock is recommended as a buy based on technical analysis, expecting it to rise from its current price of Rs. 215-217 to a target of Rs. 221.50. NTPC achieved savings of Rs. 550 crores per month due to coal rationalization and reduced imports. The stock is recommended as a buy based on technical analysis, with a target price of Rs. 158.50. Asian markets were mixed in early trade on Tuesday with SoftBank shares falling 10% as the Japanese market reopened.
#ChoiceBroking #MorningTea - Global View: US stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced
slightly after two more Federal Reserve officials pushed the case for a rate hike.
Reliance Industries plans to raise $1.5 billion in foreign currency bonds in two tranches of $1.36 billion and $140 million to refinance existing loans. The bonds will mature in 43 months. Recently, RIL raised $225 million in 10-year bonds bearing an interest rate of 2.512% annually.
State Bank of India cuts its base lending rate by 0.4% to 9.3% following a 0.5% cut in the RBI's repo rate. SBI will also lower deposit rates by 0.25%.
Technical indicators suggest buying Reliance Industries between 837-841 and State Bank of India between 240-242 based on the targets and
HPCL is experimenting with dynamic fuel pricing at its retail outlets to compete with private players. Dynamic pricing means fuel prices could change flexibly. If successful, other fuel retailers may have to follow suit. Technically, HPCL stock has been in an uptrend and could continue its upside momentum. Motherson Sumi is acquiring a automotive business unit in Hungary for EUR 10.4 million. Technically, Motherson Sumi stock has broken out of its range and robust upside is expected. Asian shares opened mixed and the Indian market is expected to open flat to positive.
NBCC (India) Ltd has won a work order worth Rs 440 crore from ESIC for construction of hospitals in Uttarakhand and Madhya Pradesh. The technical outlook is positive, and the analyst recommends buying NBCC in the range of Rs 251-253 with a target price of Rs 259 and stop loss of Rs 248. IRB Infrastructure has bagged a six-laning project from NHAI. The technical outlook and recommendation is also positive for this stock. Asian shares opened slightly higher ahead of policy decisions from the Bank of Japan and US Federal Reserve. The Indian market is expected to open flat to positive.
#ChoiceBroking #MorningTea : The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and
Alphabet helped lift the Nasdaq to its highest close in over a year.
The document provides an analysis and summary of recent news and events related to stocks. It discusses ICICI Bank launching new affordable housing loans backed by mortgage guarantees in partnership with IMGC. Technical analysis is provided for ICICI Bank and Just Dial stocks, recommending buy ranges. US economic data boosted markets and hints of no September rate hike fueled optimism. Asian markets extended gains on Chinese and US market strength. Bulk deals and upcoming corporate actions are summarized. Disclaimer and contact information is also provided.
Adani Ports and Special Economic Zone Ltd raised Rs. 1000 crores through issuing non-convertible debentures on private placement basis. The stock is recommended as a buy based on technical analysis, expecting it to rise from its current price of Rs. 215-217 to a target of Rs. 221.50. NTPC achieved savings of Rs. 550 crores per month due to coal rationalization and reduced imports. The stock is recommended as a buy based on technical analysis, with a target price of Rs. 158.50. Asian markets were mixed in early trade on Tuesday with SoftBank shares falling 10% as the Japanese market reopened.
IDFC received RBI approval to utilize Rs 2,500 crore in non-distributable reserves for provisions against bad loans as it transitions to universal banking. This will result in an additional Rs 1,600 crore provision this fiscal and reduce its net worth. REC received shareholder approval to raise up to Rs 42,000 crore through bond issuances over the next year. Technical indicators suggest buying IDFC between Rs 137.50-139 and REC between Rs 272-274. US stocks ended higher on Monday with gains in Apple and financials, though biotech shares fell on price control concerns. Asian markets were up around 0.5% while Japan was closed for a holiday.
- Havells India reported a 22% rise in net profit for the second quarter ended September 30, 2016 to Rs. 145.79 crore compared to Rs. 119.53 crore during the same period last year. Total income grew 9.8% to Rs. 1,584.63 crore.
- Marksans Pharma received US FDA approval for Paricalcitol capsules used to treat hyperparathyroidism.
- Asian shares edged up after Wall Street gained on encouraging corporate earnings and optimism about upcoming Chinese economic data. The Indian market is expected to open gap up tracking Asian indices.
- Bank of India sold an 18% stake in its life insurance joint venture with Dai-ichi Life Insurance Company of Japan to the Japanese partner. The joint venture was formed in 2007 between Bank of India, Union Bank of India, and Dai-ichi Life Insurance to undertake life insurance business in India.
- Hindustan Unilever has decided to shut down its coffee retail chain Bru World Cafes, five years after launching it. The company confirmed it had decided to close all of its Bru World Cafe locations.
- Asian markets opened lower as investors were cautious ahead of the first presidential debate between Hillary Clinton and Donald Trump, which could impact sectors like health insurance and drugmakers.
- ONGC is planning to seek government support for its $6 billion deep water project in the KG basin and is reworking its field development plan to cut costs and boost output as current oil prices have halved and may not make the project commercially feasible.
- Technical outlook suggests buying ONGC in the range of Rs. 245-247, targeting Rs. 252 with a stop loss of Rs. 242.50.
- Canara Bank has cut its base rate by 0.25% to 9.65% and reported a 40.65% fall in Q1 net profit but a 4.47% rise in total income.
- Technical outlook suggests buying Canara Bank in the range of Rs
Tata Steel reported a consolidated net loss of Rs 3,183.07 crore for the April-June quarter of 2016, hurt by discontinued operations. Its total income declined 5.5% to Rs 26,542.83 crore. Technical analysis indicates the stock may further decline from current levels. Wipro entered a partnership with Vectra Networks to deliver automated threat hunting services. Technical analysis suggests buying Wipro in the range of Rs 477-480. Asian shares declined as oil prices fell on worries over a supply glut and doubts over central banks' ability to boost growth. The Indian market is expected to open gap down tracking Asian indices.
- Tata Consultancy Services (TCS) reported better-than-expected Q1 profit and operational performance, with revenue in line with expectations.
- The technical outlook for TCS is bullish, advising to buy within the range of Rs. 2515-2525 for a target of Rs. 2576.
- PNC Infratech secured a Rs. 881 crore highway project in Rajasthan, which is the company's first hybrid annuity project. The technical outlook for PNC is also bullish, advising to buy within the range of Rs. 571-575 for a target of Rs. 587.
- US stocks closed at record highs after strong economic data
Idea Cellular received shareholder approval to raise up to Rs. 10,000 crore through private placement of non-convertible securities. The company also received approval for routine businesses such as declaring dividends and appointing directors. Technical analysis indicates Idea Cellular and NMDC stocks could be bought within certain price ranges, with targets and stop losses provided. Asian markets opened higher tracking gains on Wall Street, although caution remained due to upcoming economic data releases from China and other regions.
#ChoiceBroking #MorningTea : Asian markets advanced Friday as markets awaited key US jobs data, which will offer a key indicator of whether the Federal Reserve will pull the trigger in June.
BHEL has commissioned the second 195 MW unit at the Muzaffarpur Thermal Power Station in Bihar, which is jointly owned by NTPC and BSPGCL. The first 195 MW unit was commissioned in March 2015. BHEL has over 80% market share in equipment supplied to NTPC and its joint ventures. The document also provides a technical analysis of BHEL stock, recommending buying within the range of 121-122 with a target price of 126 and stop loss of 119. It further discusses the approval of two FDI proposals amounting to Rs 2.19 crore by the Indian government.
CapitalStars Award Winning,SEBI registered investment advisory company.We provide intraday & positional services in equity,derivative ,commodity & currency
Voltas reported a 53.7% rise in Q1 net profit led by higher sales. Net profit rose to Rs. 157.62 crore from Rs. 102.54 crore a year ago. Total income grew 19% to Rs. 1,890.9 crore. Technical outlook is positive, suggesting the stock may rise further in coming sessions. UCO Bank was downgraded by India Ratings due to concerns over asset quality and funding. The stock has been declining and closed below key moving averages, suggesting further downside. Key levels for Nifty are 8711 as resistance and 8500 as support as the market awaits passage of the GST bill.
Cipla has acquired exclusive rights to market skin care products of Percos India worth an estimated Rs 90 crore. The deal includes fast growing brands like Vedaderm, Claz, Actipeel, Tryses and Glycoveda with collective sales of around Rs 10 crore. Technical analysis indicates Cipla stock is in a rising channel and signals to buy in the range of 652-656 levels. HCL Technologies has partnered with Manchester United to explore digital initiatives and create a fan experience lab at Old Trafford stadium. Technical analysis shows HCL stock is in an uptrend and signals to buy in the range of 957-961 levels. US stocks ended mixed as investors awaited a
Pidilite Industries Ltd acquired 100% stake in Nebula East Africa Pvt Ltd, a Kenyan company. Technical analysis recommends buying Pidilite between 695-699 for a target of 713. IOC is likely to take a 37.5% stake in a joint venture to manage airport fuel facilities in India. Global markets turned positive after falling on uncertainty over the upcoming Brexit referendum, while the Indian market is also likely to see buying.
- IndiGo has entered into a strategic partnership with Travelport to distribute all of its fares and products worldwide, helping it reach travelers in international markets as it expands its route network.
- The technical outlook suggests buying IndiGo in the range of Rs. 865-870, targeting Rs. 888, with a stop loss of Rs. 856.
- Sunteck Realty reported an over eight-fold jump in quarterly net profit and a rise in total income, with the technical outlook suggesting buying in the range of Rs. 261-263, targeting Rs. 269, with a stop loss of Rs. 258.
The document provides a daily market update and analysis from a research analyst. It summarizes the performance of Pidilite Industries which reported a rise in net profit for the quarter. It also provides technical analysis and recommendations to buy Rajesh Exports based on a breakout and positive momentum. The rest of the document covers global market performance, bulk deals, upcoming corporate actions and results, banned securities and contact details for the research firm.
- The document provides technical analysis on two stocks - Godrej Consumer Products Ltd. (GCPL) and TVS Motor Company. It recommends buying GCPL between Rs. 1214-1223 with a target of Rs. 1248 and stop loss of Rs. 1201 and buying TVS Motor between Rs. 233-235 with a target of Rs. 242 and stop loss of Rs. 229.
- It also provides updates on global markets, key Indian indices and upcoming corporate actions and results calendar. US stocks rose on Friday while Asian markets opened mixed on Monday as traders await the US Federal Reserve meeting this week.
The document provides a daily technical analysis and outlook for the Nifty 50 and Bank Nifty indices in the Indian stock market. It notes that the Nifty may open flat around 8,200 levels and is expected to consolidate in the range of 8,160 to 8,230. Bank Nifty is seen finding resistance at 18,158-18,175 and support at 17,710-17,764, with a bearish bias expected till 17,830. Technical indicators and patterns are analyzed on daily and weekly charts for both indices. Individual stock recommendations are also provided based on technical factors.
Aurobindo Pharma received final approval from the US FDA to manufacture and market generic versions of Abilify tablets in various strengths. The approved product has an estimated US market size of $7.3 billion. Tata Motors' subsidiary Jaguar Land Rover will invest $2 billion in the first phase to set up a new manufacturing plant in Slovakia and expects to start production by 2018. Asian stocks advanced on Monday tracking a stronger lead from Wall Street on Friday, while markets in Japan were closed for a holiday.
- IL&FS Engineering and Construction Company has received an order worth Rs 162.58 crore from GAIL for constructing a pipeline in Bihar.
- Credit rating agency CARE has revised Ruchi Soya Industries' long-term credit ratings downward from 'BB+' to 'B' and short-term ratings from 'A4+' to 'A4+'.
- Asian stocks held near three-week lows after the Fed minutes indicated a US rate hike in December was still possible. The Indian market is expected to open lower, tracking Asian peers.
Gayatri Projects reported a 50.9% rise in net profit to Rs. 16.14 crore for the first quarter ended June 30, 2016 compared to the same period last year. Total income from operations increased 6.75% to Rs. 432.44 crore. Other income rose 90.25% to Rs. 7.42 crore.
Tata Motors reported a 57% fall in April-June quarter profit to Rs. 2,260.4 crore due to adverse foreign exchange impact on its British arm JLR from Brexit.
Most Asian markets slipped while the US dollar held firm after Yellen indicated a US interest rate hike remains possible this year. The Indian market is expected
The Dow Jones Industrial Average reached a seventh straight record high on Friday as gains in Kraft Heinz helped offset losses in energy stocks. Asian markets opened lower on Monday as investors awaited details from President Trump on economic policies. The document discusses stock market performance in the US and Asia, provides recommendations to buy two Indian stocks (ABFRL and BBTC), and includes a corporate actions and results calendar.
IDFC received RBI approval to utilize Rs 2,500 crore in non-distributable reserves for provisions against bad loans as it transitions to universal banking. This will result in an additional Rs 1,600 crore provision this fiscal and reduce its net worth. REC received shareholder approval to raise up to Rs 42,000 crore through bond issuances over the next year. Technical indicators suggest buying IDFC between Rs 137.50-139 and REC between Rs 272-274. US stocks ended higher on Monday with gains in Apple and financials, though biotech shares fell on price control concerns. Asian markets were up around 0.5% while Japan was closed for a holiday.
- Havells India reported a 22% rise in net profit for the second quarter ended September 30, 2016 to Rs. 145.79 crore compared to Rs. 119.53 crore during the same period last year. Total income grew 9.8% to Rs. 1,584.63 crore.
- Marksans Pharma received US FDA approval for Paricalcitol capsules used to treat hyperparathyroidism.
- Asian shares edged up after Wall Street gained on encouraging corporate earnings and optimism about upcoming Chinese economic data. The Indian market is expected to open gap up tracking Asian indices.
- Bank of India sold an 18% stake in its life insurance joint venture with Dai-ichi Life Insurance Company of Japan to the Japanese partner. The joint venture was formed in 2007 between Bank of India, Union Bank of India, and Dai-ichi Life Insurance to undertake life insurance business in India.
- Hindustan Unilever has decided to shut down its coffee retail chain Bru World Cafes, five years after launching it. The company confirmed it had decided to close all of its Bru World Cafe locations.
- Asian markets opened lower as investors were cautious ahead of the first presidential debate between Hillary Clinton and Donald Trump, which could impact sectors like health insurance and drugmakers.
- ONGC is planning to seek government support for its $6 billion deep water project in the KG basin and is reworking its field development plan to cut costs and boost output as current oil prices have halved and may not make the project commercially feasible.
- Technical outlook suggests buying ONGC in the range of Rs. 245-247, targeting Rs. 252 with a stop loss of Rs. 242.50.
- Canara Bank has cut its base rate by 0.25% to 9.65% and reported a 40.65% fall in Q1 net profit but a 4.47% rise in total income.
- Technical outlook suggests buying Canara Bank in the range of Rs
Tata Steel reported a consolidated net loss of Rs 3,183.07 crore for the April-June quarter of 2016, hurt by discontinued operations. Its total income declined 5.5% to Rs 26,542.83 crore. Technical analysis indicates the stock may further decline from current levels. Wipro entered a partnership with Vectra Networks to deliver automated threat hunting services. Technical analysis suggests buying Wipro in the range of Rs 477-480. Asian shares declined as oil prices fell on worries over a supply glut and doubts over central banks' ability to boost growth. The Indian market is expected to open gap down tracking Asian indices.
- Tata Consultancy Services (TCS) reported better-than-expected Q1 profit and operational performance, with revenue in line with expectations.
- The technical outlook for TCS is bullish, advising to buy within the range of Rs. 2515-2525 for a target of Rs. 2576.
- PNC Infratech secured a Rs. 881 crore highway project in Rajasthan, which is the company's first hybrid annuity project. The technical outlook for PNC is also bullish, advising to buy within the range of Rs. 571-575 for a target of Rs. 587.
- US stocks closed at record highs after strong economic data
Idea Cellular received shareholder approval to raise up to Rs. 10,000 crore through private placement of non-convertible securities. The company also received approval for routine businesses such as declaring dividends and appointing directors. Technical analysis indicates Idea Cellular and NMDC stocks could be bought within certain price ranges, with targets and stop losses provided. Asian markets opened higher tracking gains on Wall Street, although caution remained due to upcoming economic data releases from China and other regions.
#ChoiceBroking #MorningTea : Asian markets advanced Friday as markets awaited key US jobs data, which will offer a key indicator of whether the Federal Reserve will pull the trigger in June.
BHEL has commissioned the second 195 MW unit at the Muzaffarpur Thermal Power Station in Bihar, which is jointly owned by NTPC and BSPGCL. The first 195 MW unit was commissioned in March 2015. BHEL has over 80% market share in equipment supplied to NTPC and its joint ventures. The document also provides a technical analysis of BHEL stock, recommending buying within the range of 121-122 with a target price of 126 and stop loss of 119. It further discusses the approval of two FDI proposals amounting to Rs 2.19 crore by the Indian government.
CapitalStars Award Winning,SEBI registered investment advisory company.We provide intraday & positional services in equity,derivative ,commodity & currency
Voltas reported a 53.7% rise in Q1 net profit led by higher sales. Net profit rose to Rs. 157.62 crore from Rs. 102.54 crore a year ago. Total income grew 19% to Rs. 1,890.9 crore. Technical outlook is positive, suggesting the stock may rise further in coming sessions. UCO Bank was downgraded by India Ratings due to concerns over asset quality and funding. The stock has been declining and closed below key moving averages, suggesting further downside. Key levels for Nifty are 8711 as resistance and 8500 as support as the market awaits passage of the GST bill.
Cipla has acquired exclusive rights to market skin care products of Percos India worth an estimated Rs 90 crore. The deal includes fast growing brands like Vedaderm, Claz, Actipeel, Tryses and Glycoveda with collective sales of around Rs 10 crore. Technical analysis indicates Cipla stock is in a rising channel and signals to buy in the range of 652-656 levels. HCL Technologies has partnered with Manchester United to explore digital initiatives and create a fan experience lab at Old Trafford stadium. Technical analysis shows HCL stock is in an uptrend and signals to buy in the range of 957-961 levels. US stocks ended mixed as investors awaited a
Pidilite Industries Ltd acquired 100% stake in Nebula East Africa Pvt Ltd, a Kenyan company. Technical analysis recommends buying Pidilite between 695-699 for a target of 713. IOC is likely to take a 37.5% stake in a joint venture to manage airport fuel facilities in India. Global markets turned positive after falling on uncertainty over the upcoming Brexit referendum, while the Indian market is also likely to see buying.
- IndiGo has entered into a strategic partnership with Travelport to distribute all of its fares and products worldwide, helping it reach travelers in international markets as it expands its route network.
- The technical outlook suggests buying IndiGo in the range of Rs. 865-870, targeting Rs. 888, with a stop loss of Rs. 856.
- Sunteck Realty reported an over eight-fold jump in quarterly net profit and a rise in total income, with the technical outlook suggesting buying in the range of Rs. 261-263, targeting Rs. 269, with a stop loss of Rs. 258.
The document provides a daily market update and analysis from a research analyst. It summarizes the performance of Pidilite Industries which reported a rise in net profit for the quarter. It also provides technical analysis and recommendations to buy Rajesh Exports based on a breakout and positive momentum. The rest of the document covers global market performance, bulk deals, upcoming corporate actions and results, banned securities and contact details for the research firm.
- The document provides technical analysis on two stocks - Godrej Consumer Products Ltd. (GCPL) and TVS Motor Company. It recommends buying GCPL between Rs. 1214-1223 with a target of Rs. 1248 and stop loss of Rs. 1201 and buying TVS Motor between Rs. 233-235 with a target of Rs. 242 and stop loss of Rs. 229.
- It also provides updates on global markets, key Indian indices and upcoming corporate actions and results calendar. US stocks rose on Friday while Asian markets opened mixed on Monday as traders await the US Federal Reserve meeting this week.
The document provides a daily technical analysis and outlook for the Nifty 50 and Bank Nifty indices in the Indian stock market. It notes that the Nifty may open flat around 8,200 levels and is expected to consolidate in the range of 8,160 to 8,230. Bank Nifty is seen finding resistance at 18,158-18,175 and support at 17,710-17,764, with a bearish bias expected till 17,830. Technical indicators and patterns are analyzed on daily and weekly charts for both indices. Individual stock recommendations are also provided based on technical factors.
Aurobindo Pharma received final approval from the US FDA to manufacture and market generic versions of Abilify tablets in various strengths. The approved product has an estimated US market size of $7.3 billion. Tata Motors' subsidiary Jaguar Land Rover will invest $2 billion in the first phase to set up a new manufacturing plant in Slovakia and expects to start production by 2018. Asian stocks advanced on Monday tracking a stronger lead from Wall Street on Friday, while markets in Japan were closed for a holiday.
- IL&FS Engineering and Construction Company has received an order worth Rs 162.58 crore from GAIL for constructing a pipeline in Bihar.
- Credit rating agency CARE has revised Ruchi Soya Industries' long-term credit ratings downward from 'BB+' to 'B' and short-term ratings from 'A4+' to 'A4+'.
- Asian stocks held near three-week lows after the Fed minutes indicated a US rate hike in December was still possible. The Indian market is expected to open lower, tracking Asian peers.
Gayatri Projects reported a 50.9% rise in net profit to Rs. 16.14 crore for the first quarter ended June 30, 2016 compared to the same period last year. Total income from operations increased 6.75% to Rs. 432.44 crore. Other income rose 90.25% to Rs. 7.42 crore.
Tata Motors reported a 57% fall in April-June quarter profit to Rs. 2,260.4 crore due to adverse foreign exchange impact on its British arm JLR from Brexit.
Most Asian markets slipped while the US dollar held firm after Yellen indicated a US interest rate hike remains possible this year. The Indian market is expected
The Dow Jones Industrial Average reached a seventh straight record high on Friday as gains in Kraft Heinz helped offset losses in energy stocks. Asian markets opened lower on Monday as investors awaited details from President Trump on economic policies. The document discusses stock market performance in the US and Asia, provides recommendations to buy two Indian stocks (ABFRL and BBTC), and includes a corporate actions and results calendar.
Syngene International Ltd has acquired assets related to systems biology, Heptox and pharma bioinformatics services from Strand Life Sciences. The deal will provide Syngene access to Strand's technologies to expand its integrated discovery service offerings. Strand Life Sciences CMD commented that the deal gives Strand access to Syngene's technologies while allowing it to focus on personalized medicine through clinical genomics applications.
The report provides a technical analysis of GAIL stock, recommending buying in the range of 386-388 for a target of 398 with stop loss of 381 based on the stock's upward trend and support level.
It also lists various companies that have announced their annual general meetings and dividend details.
The document discusses several topics:
1) Drug company Cipla received approval to market a generic version of an antidepressant drug in the US market, worth $792 million annually.
2) Technical analysis recommends buying Cipla stock between 574-576 with a target price of 587.50.
3) Canara Bank launched a mobile payments app allowing customers to pay and collect money between accounts across banks.
4) Asian stock markets opened lower following modest losses on Wall Street as investors awaited upcoming US jobs data that could influence interest rate decisions.
The Reserve Bank of India increased the limit of foreign institutional investment in Info Edge (India) to 50% of its paid-up capital from the previous limit of 40%. Info Edge owns the leading job portal naukri.com. The Cabinet approved auctioning 69 small and marginal oilfields of ONGC and Oil India to private and foreign firms. Technical analysis indicates buying Info Edge between 752-757 and ONGC between 452-455 based on chart patterns and momentum indicators.
#ChoiceBroking #MorningTea : Global View: Global View Wall Street rose robustly for a second straight session on Wednesday, helped by higher oil prices and investor becoming more comfortable with the prospect of an interest rate hike as early as next month.
Reliance Industries reported an 18.1% rise in net profit for the April-June quarter to Rs. 7,113 crore, driven by higher refining margins. Technical analysis indicates the stock could continue its upward movement. LIC Housing Finance reported a 6.7% rise in net profit for the first quarter to Rs. 407.84 crore, with total income rising 14%. Technical analysis also points to further gains in this stock. Asian markets opened flat ahead of light data week, while the failed coup in Turkey saw the lira tumble against the dollar and euro.
Glenmark Pharmaceuticals has entered into an agreement with Particle Sciences to develop and market a generic version of Celgene's ABRAXANE for breast and lung cancers. Particle Sciences will develop this product exclusively for Glenmark and receive milestone payments and royalties. Lloyd Electric has been awarded an 11-year contract by GE Transportation to supply air conditioning units for Indian Railways locomotives. Asian shares edged lower as investors awaited policy decisions from the Federal Reserve and Bank of Japan.
- Local search engine Just Dial received in-principle approval from RBI to launch a prepaid wallet, allowing it to provide payment solutions to users as part of its transaction services. Just Dial needs to submit additional reports to RBI by March 5, 2017 for final authorization.
- Technical analysis indicates Just Dial stock has formed a hammer candlestick pattern near the bottom, suggesting a trend reversal. The stock is recommended as a buy between Rs. 497-500 with a target price of Rs. 510 and stop loss of Rs. 492.
- Jindal Steel reported a widening of consolidated net loss for the April-June quarter compared to the same period last year, while net sales also
#ChoiceBroking #MorningTea: Global View- Wall Street rose on Friday, clinching the fourth straight positive week for the stock market, boosted by strength in telecom stalwarts
AT&T and Verizon.
- Canara Bank reported a 15.6% decline in net profit for the second quarter due to higher provisions and weak asset quality. Net profit fell to Rs. 5.28 billion from Rs. 6.26 billion a year ago.
- Net interest income rose but provisions jumped 49% while other income dropped 18.5%. Gross bad loans rose to 4.27% from 3.98% in the previous quarter.
- Petronet LNG shares rose after RBI allowed increased foreign ownership in the company to 30% under a portfolio investment scheme.
The document provides the following information:
1) CRISIL has upgraded the credit ratings of Bajaj Finance's bank facilities from 'AA+/positive' to 'AAA/stable' outlook. Short term ratings remain unchanged at 'A1+' and 'FAAA/Stable'.
2) Creditors of Bhushan Steel have decided to restructure the company's Rs. 45,000 crore loans under RBI's new restructuring norms. SBI and PNB will lead the loan restructuring.
3) Asian shares dipped ahead of the US jobs report but major US stock indexes closed little changed as declining names outweighed advancers ahead of the jobs data release.
Suven Life Sciences has received two product patents from Canada and one from China for new chemical entities to treat neurological disorders. The patents are valid through 2029-2030.
Technical analysis indicates the stock of Suven Life Sciences has potential to rise after breaking above a flag pattern resistance at 239.20 with high volume. The stock is also trading above short and long term moving averages.
LIC's individual new business premium declined 14% during April-July due to lack of unit-linked insurance plans previously, though it has recently launched a new Ulip product. Private insurers saw a 17% premium growth over the same period led by Ulips.
ITC will invest Rs 4,000 crore over the next 2-3 years to set up 8-9 new food processing factories across India. ITC's food business grew 11% last year and is the company's second largest segment after cigarettes. The company is looking to tap growing demand from health conscious consumers by expanding its new biscuit line. Separately, DLF's promoters will inject Rs 10,000 crore into the real estate developer by selling their stake in DLF's rental business for Rs 12,000-13,000 crore and using the funds to repay debt.
- US and Asian stock markets rose as investors were optimistic about Trump's economic agenda and upbeat factory data in Europe.
- The document provides recommendations to "buy" two Indian stocks - Marico and Sintec Industries - based on technical analysis showing positive trends.
- It also includes news briefs on various Indian companies declaring interim dividends and an upcoming corporate action/results calendar.
Aban Offshore has received a letter of award from ONGC for deployment of a jack-up rig for 3 years worth approximately $50 million. The contract is expected to start in Q1 2016.
Cadila Healthcare shares fell over 2% on concerns about clearance of its Moraiya facility in Gujarat by the end of the fiscal year based on a Credit Suisse downgrade and pricing impact.
US indexes finished mixed with the Dow and S&P 500 down slightly while the Nasdaq was up as traders await the Federal Reserve meeting starting Tuesday for clues on interest rates. Asian markets opened cautiously tracking Wall Street and weaker commodity prices.
- The Left Democratic Front (LDF) government in Kerala is planning to introduce a revised liquor policy based on abstinence that will be different from the previous government's policy which had banned buying and selling of liquor and forced some shops to close.
- The report recommends buying Bharti Airtel in the range of 320-322 for a target of 328 with a stop loss of 317 based on a technical analysis showing the stock has support at 310 and momentum indicators pointing to upside potential.
- Asian stock markets rose after OPEC members agreed to cut oil output, boosting investor risk appetite, with Japan's Nikkei up 0.9% and Indian markets expected to open higher.
- Kotak Mahindra Bank expects 20% credit growth during the current fiscal year, up from 14-15% last year. A senior executive said corporate credit off-take has been slow but is expected to rise in the second half as interest rates fall and the economy improves.
- The document provides technical analysis on Kotak Mahindra Bank and IDBI Bank stocks, recommending a buy on Kotak Bank and sell on IDBI Bank based on technical indicators.
- The government is working on selling its stake in IDBI Bank and a decision may be taken in the current fiscal year, according to IDBI Bank's managing director.
Cadila Healthcare has completed the acquisition of two ANDAs from Teva through its subsidiary Zydus Worldwide. The acquisition was contingent on Teva's acquisition of Allergan's generic business, which has now closed with FTC approval. Tata Chemicals reported a 32.3% rise in Q1 net profit to Rs 279.65 crore compared to Rs 211.31 crore in the same quarter last year, aided by better performance and margins in the Indian business. Asian shares rose on Monday after a stronger-than-expected July US jobs report boosted confidence in the strength of the US economy and heightened expectations of a US interest rate hike this year.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
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OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
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Global View
India Update
Today’s Event/ Stock in News
In a filing to the stock exchanges, Kotak Mahindra Bank informed investors about the development. "The Reserve Bank of India (RBI) has
informed the bank that it has granted approval to Canada Pension Plan Investment Board (CPPIB) for acquiring shares in excess of 5 per
centandbelow10percentofthebank'spaidupcapital,"thestatementsaid.Atpresent,CPPIBholds4.89percentinthebank..
Technical Outlook: On daily chart, stock has given breakout of its range bound move in which it had been trading for more than
five weeks. Moreover, volume activity was also very appealing during the breakout. Besides, stock has been continuously trading
with its strong support of 50 day moving average which shows that near term trend is up. A momentum indicator RSI reading is at
69.40levelwithpositivecrossoverwhichpointoutforpositivebreathinthestock.Sofortradingperspective,onecouldBuyinrange
of803-806forTargetof822.50withSLof795.50.
KOTAKBANK
BPCL
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Morning Tea
01st Sep 2016
Buy in range of 598-602 for Target of 614.50 with SL of 592
Buy in range of 803-806 for Target of 822.50 with SL of 795.50
State-owned oilretailer BharatPetroleum CorporationLtd(BPCL) on Wednesdayreported a growthof 11 per centin its April-June quarter
net profitat Rs 2,620.5 crore for the quarter ended June 30,2016, despitelower revenue growth. “The standalone net profit after taxes of
the company stood at Rs 2,360.66 crore during the same period a year ago,” said Bharat Petroleum Corporation Ltd in a filing to the
BombayStockExchangeonAugust31,2016.
Technical Outlook: Ondailychart,stock hasbeencontinuouslytradingaboveits 21daymovingaverage whichis placedat 590.20
level which shows that near term trend is up and stock could further accelerates its upside movement from the present level.
Moreover, stock has managedto sustain above 600 level, a level which acted as strong resistance in past two weeks. Amomentum
indicator RSI reading is at 57.48 level with positive crossover, which point out for positive breath in the stock. So for trading
perspective,onecouldBuyinrangeof598-602forTargetof614.50withSLof592.
Asian shares dipped on Thursday after lowercrude oil prices dented Wall Street, as markets waited to see if US employment data could put the Federal Reserve on
trackto hikeinterestrates.MSCI'sbroadestindexofAsia-Pacific sharesoutsideJapanwasdown0.2percentinearlytrading,whileAustralia'sS&P/ASX200indexwas
down 0.2 percent. Investors awaited China's official manufacturing Purchasing Managers' Index (PMI) as well as a private gauge later this session. Manufacturing
sectorlikelyshrankforasecondstraightmonthinAugustbutatamarginalpace,aReuterspollshowed,suggestingtheeconomyissteadyingevenasthegovernment
vowstocutmoreindustrialovercapacity.Japan'sNikkeistockindexwaswaveringbetweenpositiveandnegativeterritory,astheyencameoffitsovernightlows.The
IndianequitymarketisexpectedtoopenflattodaytrackingAsianindices.SGXNiftyistradingat8844downby0.50points.
Stocks ended lower on Wall Street on Wednesday, as energy shares tracked oil prices lower, and the S&P posted a loss for August, the first negative month for the
benchmarkindexsinceFebruary.TheNasdaqgained1percentinAugustandtheS&Pshed0.1percent,speakingtostocks'resiliencyaftertheS&Phitanall-timehigh
mid-month. It ended Wednesday within 1 percent of its record close. The energy sector of the S&P 500 ended 1.4 percent lower on Wednesday, its largest daily
decline in three weeks, as US crude futures CLc1 fell more than 3 percent. Data earlier showed the private sector created 177,000 jobs in August, in line with
expectations, and contracts to buy previously owned homes surged in July, suggesting the economywas regaining sufficient momentum for the Federal Reserve to
raise interest rates this year.The strong numbers sharpened the focusonFriday'spayrolls report.TheDowJones industrial average fell 53.42points,or0.29percent,
to18,400.88,theS&P500lost5.17points,or0.24percent,to2,170.95andtheNasdaqCompositedropped9.77points,or0.19percent,to5,213.22.
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Morning Tea
01st Sep 2016
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Caplin Point Laboratories Limited; Annual General Meeting/Dividend - Rs 3.50 Per Share
Pudumjee Paper Products Limited; Annual General Meeting/ Dividend - Re 0.10 Per Share
Adi Finechem Limited; Annual General Meeting/Dividend - Rs 2.50 Per Share
Thyrocare Technologies Limited; Annual General Meeting/Dividend - Rs 2.50 Per Share
Vidhi Dyestuffs Manufacturing Limited; Interim Dividend - Re 0.20 Per Share
Nila Infrastructures Limited; Annual General Meeting/ Dividend - Re 0.11 Per Share
Elgi Rubber Company Limited; Annual General Meeting/Dividend Re 0.37 Per Share
Hindustan Media Ventures Limited; Dividend Rs 1.20 Per Share
R.P.P. Infra Projects Limited; Annual General Meeting/ Dividend - Re 0.50/- Per Share
Talwalkars Better Value Fitness Limited; Annual General Meeting/Dividend - Rs 1.50/- Per Share
Surya Roshni Limited; Annual General Meeting/Dividend Re 1/- Per Share
Pudumjee Pulp & Paper Mills Limited; Agm/Dividend - Re 0.20/- Per Share
Banco Products (I) Limited; Dividend - Rs 4 Per Share
Gujarat State Fertilizers & Chemicals Limited; Dividend - Rs 2.20/- Per Share
Chambal Fertilizers & Chemicals Limited; Dividend - Rs 1.90/- Per Share
Nava Bharat Ventures Limited; Bonus 1:1
Electrosteel Castings Limited; Dividend - Re 0.50/- Per Share
Gujarat Ambuja Exports Limited; Annual General Meeting (Book Closure Dates Revised)
Aro Granite Industries Limited; Annual General Meeting/ Dividend - Re 1/- Per Share
DPSC Limited; Annual General Meeting/ Dividend -Re 0.05 Per Share
Result Calendar:
ADSL, ADVIK, APOLLOHOSP, BALLARPUR, BIMETAL, BPCL, ESSELPRO, FMEC, KALINDEE, MGL &
NAVKARCORP.
Corporate Action / Result Calendar
Bulk Deal
Security in Ban
Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 31/08/2016 540065 RBLBANK TVS SHRIRAM GROWTH FUND S 2637611 289.57
2 31/08/2016 531467 ARNAVCORP GITABEN BANKIMBHAI SHAH B 1326004 3.19
3 31/08/2016 531934 SUPREMETEX SANTOSH GAJANDER SINGH S 1179823 10.21
4 31/08/2016 531467 ARNAVCORP GITABEN BANKIMBHAI SHAH S 1101987 3.19
5 31/08/2016 530187 ATHARVENT LEENA DINESH RANE S 900000 2.07
6 31/08/2016 502448 ROLLT SHREE BHUVANAKARAM TRADINVEST PVT LTD B 800727 28.03
7 31/08/2016 502448 ROLLT SHREE BHUVANAKARAM TRADINVEST PVT LTD S 799386 28.14
7 31/08/2016 531934 SUPREMETEX SANTOSH GAJANDER SINGH B 743813 10.18
7 31/08/2016 530191 CHROMATIC ANUPAM NARAIN GUPTA S 600000 3.90
7 31/08/2016 530191 CHROMATIC ONKAR KESHAV BHATKAR B 500000 3.90
JINDALSTEL
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Contact Us
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This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial
instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in
any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but
Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the
information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology, price patterns and volume levels. It is used to forecast
future price and market movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations
issued by Choice Broking in the company research undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on
information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty and accepts no responsibility
or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without
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purely for trading purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may
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performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee
against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock /
Instrument (s): - No.
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Research Team
Mr. Sumeet Bagadia Associate Director
Kkunal Parar Sr. Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
01st Sep 2016
SEBI Registered – Research Analyst www.choiceindia.com * Please Refer Disclaimer on Website
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity
Broking Pvt Ltd., ou=Research Dept,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2016.09.01 08:44:48 +05'30'