Choicebroking: #Morningtea: Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.
Coal India achieved nearly 99% of its June production target of 43.31 million tonnes, producing 42.72 million tonnes. For the period of April to June 2016-2017, production was 125.65 million tonnes against a target of 132.43 million tonnes. Off-take in June was 44.96 million tonnes, lower than the targeted 47.52 million tonnes. Vedanta plans to increase aluminum production capacity at its Lanjigarh refinery in Odisha from 1 million tonnes per annum to 1.5 million tonnes, a 50% increase.
- 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.
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.
Union Minister Piyush Goyal said that Coal India Ltd has set a target of producing 1 billion tons of coal. Currently, power shortage in India has decreased to 2.1% from 4.2%. Goyal was participating in events marking the completion of 2 years of the NDA government. The document also provides recommendations to buy certain stocks based on technical analysis and updates on corporate actions and results calendar for various companies.
- Petrol and diesel prices were increased by 5 paise and Rs 1.26 per litre respectively on June 15th, marking the 4th increase in fuel prices since May 1st.
- Tata Sponge Iron won a bid to receive 24,000 tonnes of coal from Coal India Ltd. Coal constitutes over 80% of Tata Sponge Iron's production costs.
- Indian equity markets are expected to open weak on June 16th following the US Federal Reserve's decision to keep interest rates unchanged and weak US jobs data, alongside mixed views on potential Bank of Japan stimulus.
Choicebroking: #Morningtea: Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.
Coal India achieved nearly 99% of its June production target of 43.31 million tonnes, producing 42.72 million tonnes. For the period of April to June 2016-2017, production was 125.65 million tonnes against a target of 132.43 million tonnes. Off-take in June was 44.96 million tonnes, lower than the targeted 47.52 million tonnes. Vedanta plans to increase aluminum production capacity at its Lanjigarh refinery in Odisha from 1 million tonnes per annum to 1.5 million tonnes, a 50% increase.
- 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.
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.
Union Minister Piyush Goyal said that Coal India Ltd has set a target of producing 1 billion tons of coal. Currently, power shortage in India has decreased to 2.1% from 4.2%. Goyal was participating in events marking the completion of 2 years of the NDA government. The document also provides recommendations to buy certain stocks based on technical analysis and updates on corporate actions and results calendar for various companies.
- Petrol and diesel prices were increased by 5 paise and Rs 1.26 per litre respectively on June 15th, marking the 4th increase in fuel prices since May 1st.
- Tata Sponge Iron won a bid to receive 24,000 tonnes of coal from Coal India Ltd. Coal constitutes over 80% of Tata Sponge Iron's production costs.
- Indian equity markets are expected to open weak on June 16th following the US Federal Reserve's decision to keep interest rates unchanged and weak US jobs data, alongside mixed views on potential Bank of Japan stimulus.
ITC has shut its cigarette factories again to comply with new regulations requiring pictorial health warnings covering 85% of packaging space, up from 40% previously. This is impacting supplies in the market. The stock is expected to be weak in the near term based on technical indicators. Cairn India is not allowed to export excess crude from its fields in Rajasthan until India achieves energy self-sufficiency, according to the central government. The stock is recommended as a sell based on technical factors. US stocks closed mixed as consumer discretionary shares declined on weak sales reports, while investors await the upcoming jobs report for signals on interest rates. Indian markets are expected to open lower tracking losses in Asia and ahead of the US
Gati Kausar, a division of Gati Ltd, has launched its first temperature controlled warehouse near Delhi along National Highway 8. The new facility covers 4 acres and currently has a storage capacity of over 5,000 pallets. Axis Bank has established an innovation lab called "Thought Factory" to accelerate development of innovative banking technologies and plans to partner with international banks on areas like blockchain, AI and mobility. Markets recovered further from post-Brexit losses with the Nifty reclaiming 8,200 levels ahead of June F&O expiry.
Choicebroking #morning tea GlobalView: US stocks declined for a second day on Wednesday, weighed down by tepid data on private sector US jobs and a retreat in biotech shares.
- Canara Bank has been appointed by the Ministry of Human Resources Development, Government of India to establish the Higher Education Financing Agency to provide financing for infrastructure development in top higher education institutions.
- The technical outlook suggests buying Canara Bank between 333-335 price range with a target price of 342 and stop loss of 330.
- Power Grid Corporation of India's subsidiary has successfully completed its Unchahar-Fatehpur transmission project and declared commercial operation from October 1st, 2016.
- Andhra Bank reported a 72.14% decline in net profit for the quarter ending March 31, 2016 compared to the same period the previous year, though total income increased 9.05%. For the full year, net profit declined 15.44%.
- Technical analysis recommends selling Idea in the range of 112-113.50 with a target price of 108 and stop loss of 115.50 based on a negative breakout and other technical indicators pointing to weakness.
- The Supreme Court is expected to rule on Wednesday on petitions challenging TRAI's order for telecom operators to compensate consumers Rs. 1 per dropped call daily, up to 3 calls.
The document provides a daily market summary and analysis for March 10th, 2017. It discusses the performance of world markets including the US, Asia, and India. It also provides technical analysis recommendations to buy two Indian stocks (PIIND and ITDCEM) based on chart patterns and indicators. In addition, it lists upcoming corporate actions and results calendars.
- Berger Paints reported a 54.5% rise in Q2 profit to Rs 120.3 crore, driven by strong operational performance. Revenue increased 10.6% to Rs 1,246 crore.
- The technical outlook for Berger Paints is positive, with the stock expected to continue its upward trend and likely bounce back from current levels.
- Bharti Airtel has partnered with Verizon Digital Media Services to launch new points of presence in four major Indian cities.
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.
- Aurobindo Pharma Ltd reported a 39.4% rise in Q4 net profit to Rs. 563 crore and an 18.5% increase in Q4 revenue to Rs. 3,747 crore. For the full year, net profit rose 28.5% and revenue grew 14.6%.
- Technical outlook indicates Aurobindo Pharma stock could rise further after bouncing back from support and sustaining above its 100 day moving average. The analyst recommends buying at Rs. 780-784 with a target price of Rs. 800.
- BASF India inaugurated a new construction chemicals plant in West Bengal and is expected to produce products under its Master Builders Solutions brand
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.
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.
- 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.
- Vedanta's subsidiary TSPL commissioned the third 660 MW unit of its 1980 MW Talwandi Sabo thermal power plant in Punjab. TSPL had signed a PPA with Punjab State Power Corporation for establishing the 1980 MW coal-based commercial power plant.
- Dr. Reddy's launched generic versions of heart drug Nitrostat in the US market. The brand drug had US sales of around $108 million last year.
- Asian shares rebounded after doubts over the likelihood of a US Fed rate hike in September weakened the dollar. The Indian market is expected to open flat to higher tracking Asian indices.
Godrej Properties announced plans to develop a 370,000 square meter golf-centric township in Greater Noida. Technical analysis indicates Godrej Properties stock could be bought between Rs. 338-340, with a target price of Rs. 347. GMR Infrastructure was awarded two packages for the Eastern Dedicated Freight Corridor project worth 221 km. Technical analysis recommends buying GMR Infrastructure between Rs. 11.20-11.50, targeting Rs. 12.10. US stocks ended higher after comments from Janet Yellen eased rate hike fears, while Indian markets rallied to 7-month highs following the RBI policy statement indicating possible future rate cuts.
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.
The document discusses the Indian pharmaceutical sector facing regulatory hurdles in international markets like the US due to a shortage of drug inspectors. It notes there are around 1,500 inspectors for over 10,000 factories producing pharmaceutical products in India. The sector is facing challenges in markets like the US and EU. It provides technical analysis on Cipla, recommending selling within the range of 623-627, targeting 610. It also recommends buying BHEL within 167-169, targeting 173. It includes updates on US stocks, Asian stocks, and expected opening of Indian shares.
The document provides a market update from the US, Asian, and Indian equity markets. It discusses that US stocks rose on Tuesday as tech stocks rebounded and energy stocks increased with rising oil prices. Asian shares also rose on Wednesday rebounding from losses as Wall Street rallied. In India, the equity market is expected to open higher tracking gains in Asian indices. It also provides recommendations to buy two Indian stocks, CANBK and BHARATFORG based on technical analysis.
Global View: US stocks fell on Tuesday after weak economic data in China and Europe reignited worries about global growth, while oil prices dropped for a second day, dragging down energy shares.
Skipper Ltd has received orders worth around Rs. 100 crore to supply transmission equipment to markets in Kenya, Cameroon, Congo, Ghana and Malaysia, as well as domestic markets in India. The company's director commented that they are excited about entering these new African and Asian markets due to their international business push.
Petronet LNG Ltd plans to set up a Rs. 5,000 crore LNG import terminal in Bangladesh to meet growing demand in neighboring countries. The company's MD & CEO said they have proposed a 5 MTPA capacity terminal at Kutubdia islands off Cox's Bazar in Bangladesh.
Indian markets are expected to open higher, taking cues from gains in other Asian markets
UltraTech Cement acquired Jaypee Group's cement assets for Rs 16,189 crore. The deal gives UltraTech a total cement capacity of 17.2 MTPA across several states. In addition, UltraTech will pay Rs 470 crore more to complete a pending 4 MTPA cement grinding unit. Bajaj Auto reported a 4% decline in total sales in June to 3,16,969 units due to lower motorcycle and export sales. Technical indicators show the stock may decline further. The market is expected to be range-bound on weak global cues, but all eyes will be on the upcoming cabinet reshuffle in India.
- Vijaya Bank reported a 26% drop in net profit for the fourth quarter ended March 2016 to Rs 71.3 crore due to higher provisioning for worsening asset quality. Provisioning more than doubled to Rs 653.3 crore from Rs 305.5 crore last year.
- Glenmark Pharmaceuticals reported over a 13-fold jump in consolidated net profit to Rs 143.04 crore for the March quarter due to robust sales across all markets including the US, Europe and India. Revenue rose to Rs 2,306.67 crore from Rs 1,775.81 crore in the same period last year.
- US stocks ended mixed with gains in telecom and consumer
ITC has shut its cigarette factories again to comply with new regulations requiring pictorial health warnings covering 85% of packaging space, up from 40% previously. This is impacting supplies in the market. The stock is expected to be weak in the near term based on technical indicators. Cairn India is not allowed to export excess crude from its fields in Rajasthan until India achieves energy self-sufficiency, according to the central government. The stock is recommended as a sell based on technical factors. US stocks closed mixed as consumer discretionary shares declined on weak sales reports, while investors await the upcoming jobs report for signals on interest rates. Indian markets are expected to open lower tracking losses in Asia and ahead of the US
Gati Kausar, a division of Gati Ltd, has launched its first temperature controlled warehouse near Delhi along National Highway 8. The new facility covers 4 acres and currently has a storage capacity of over 5,000 pallets. Axis Bank has established an innovation lab called "Thought Factory" to accelerate development of innovative banking technologies and plans to partner with international banks on areas like blockchain, AI and mobility. Markets recovered further from post-Brexit losses with the Nifty reclaiming 8,200 levels ahead of June F&O expiry.
Choicebroking #morning tea GlobalView: US stocks declined for a second day on Wednesday, weighed down by tepid data on private sector US jobs and a retreat in biotech shares.
- Canara Bank has been appointed by the Ministry of Human Resources Development, Government of India to establish the Higher Education Financing Agency to provide financing for infrastructure development in top higher education institutions.
- The technical outlook suggests buying Canara Bank between 333-335 price range with a target price of 342 and stop loss of 330.
- Power Grid Corporation of India's subsidiary has successfully completed its Unchahar-Fatehpur transmission project and declared commercial operation from October 1st, 2016.
- Andhra Bank reported a 72.14% decline in net profit for the quarter ending March 31, 2016 compared to the same period the previous year, though total income increased 9.05%. For the full year, net profit declined 15.44%.
- Technical analysis recommends selling Idea in the range of 112-113.50 with a target price of 108 and stop loss of 115.50 based on a negative breakout and other technical indicators pointing to weakness.
- The Supreme Court is expected to rule on Wednesday on petitions challenging TRAI's order for telecom operators to compensate consumers Rs. 1 per dropped call daily, up to 3 calls.
The document provides a daily market summary and analysis for March 10th, 2017. It discusses the performance of world markets including the US, Asia, and India. It also provides technical analysis recommendations to buy two Indian stocks (PIIND and ITDCEM) based on chart patterns and indicators. In addition, it lists upcoming corporate actions and results calendars.
- Berger Paints reported a 54.5% rise in Q2 profit to Rs 120.3 crore, driven by strong operational performance. Revenue increased 10.6% to Rs 1,246 crore.
- The technical outlook for Berger Paints is positive, with the stock expected to continue its upward trend and likely bounce back from current levels.
- Bharti Airtel has partnered with Verizon Digital Media Services to launch new points of presence in four major Indian cities.
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.
- Aurobindo Pharma Ltd reported a 39.4% rise in Q4 net profit to Rs. 563 crore and an 18.5% increase in Q4 revenue to Rs. 3,747 crore. For the full year, net profit rose 28.5% and revenue grew 14.6%.
- Technical outlook indicates Aurobindo Pharma stock could rise further after bouncing back from support and sustaining above its 100 day moving average. The analyst recommends buying at Rs. 780-784 with a target price of Rs. 800.
- BASF India inaugurated a new construction chemicals plant in West Bengal and is expected to produce products under its Master Builders Solutions brand
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.
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.
- 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.
- Vedanta's subsidiary TSPL commissioned the third 660 MW unit of its 1980 MW Talwandi Sabo thermal power plant in Punjab. TSPL had signed a PPA with Punjab State Power Corporation for establishing the 1980 MW coal-based commercial power plant.
- Dr. Reddy's launched generic versions of heart drug Nitrostat in the US market. The brand drug had US sales of around $108 million last year.
- Asian shares rebounded after doubts over the likelihood of a US Fed rate hike in September weakened the dollar. The Indian market is expected to open flat to higher tracking Asian indices.
Godrej Properties announced plans to develop a 370,000 square meter golf-centric township in Greater Noida. Technical analysis indicates Godrej Properties stock could be bought between Rs. 338-340, with a target price of Rs. 347. GMR Infrastructure was awarded two packages for the Eastern Dedicated Freight Corridor project worth 221 km. Technical analysis recommends buying GMR Infrastructure between Rs. 11.20-11.50, targeting Rs. 12.10. US stocks ended higher after comments from Janet Yellen eased rate hike fears, while Indian markets rallied to 7-month highs following the RBI policy statement indicating possible future rate cuts.
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.
The document discusses the Indian pharmaceutical sector facing regulatory hurdles in international markets like the US due to a shortage of drug inspectors. It notes there are around 1,500 inspectors for over 10,000 factories producing pharmaceutical products in India. The sector is facing challenges in markets like the US and EU. It provides technical analysis on Cipla, recommending selling within the range of 623-627, targeting 610. It also recommends buying BHEL within 167-169, targeting 173. It includes updates on US stocks, Asian stocks, and expected opening of Indian shares.
The document provides a market update from the US, Asian, and Indian equity markets. It discusses that US stocks rose on Tuesday as tech stocks rebounded and energy stocks increased with rising oil prices. Asian shares also rose on Wednesday rebounding from losses as Wall Street rallied. In India, the equity market is expected to open higher tracking gains in Asian indices. It also provides recommendations to buy two Indian stocks, CANBK and BHARATFORG based on technical analysis.
Global View: US stocks fell on Tuesday after weak economic data in China and Europe reignited worries about global growth, while oil prices dropped for a second day, dragging down energy shares.
Skipper Ltd has received orders worth around Rs. 100 crore to supply transmission equipment to markets in Kenya, Cameroon, Congo, Ghana and Malaysia, as well as domestic markets in India. The company's director commented that they are excited about entering these new African and Asian markets due to their international business push.
Petronet LNG Ltd plans to set up a Rs. 5,000 crore LNG import terminal in Bangladesh to meet growing demand in neighboring countries. The company's MD & CEO said they have proposed a 5 MTPA capacity terminal at Kutubdia islands off Cox's Bazar in Bangladesh.
Indian markets are expected to open higher, taking cues from gains in other Asian markets
UltraTech Cement acquired Jaypee Group's cement assets for Rs 16,189 crore. The deal gives UltraTech a total cement capacity of 17.2 MTPA across several states. In addition, UltraTech will pay Rs 470 crore more to complete a pending 4 MTPA cement grinding unit. Bajaj Auto reported a 4% decline in total sales in June to 3,16,969 units due to lower motorcycle and export sales. Technical indicators show the stock may decline further. The market is expected to be range-bound on weak global cues, but all eyes will be on the upcoming cabinet reshuffle in India.
- Vijaya Bank reported a 26% drop in net profit for the fourth quarter ended March 2016 to Rs 71.3 crore due to higher provisioning for worsening asset quality. Provisioning more than doubled to Rs 653.3 crore from Rs 305.5 crore last year.
- Glenmark Pharmaceuticals reported over a 13-fold jump in consolidated net profit to Rs 143.04 crore for the March quarter due to robust sales across all markets including the US, Europe and India. Revenue rose to Rs 2,306.67 crore from Rs 1,775.81 crore in the same period last year.
- US stocks ended mixed with gains in telecom and consumer
Strides Shasun reported a consolidated net profit of Rs 96.22 crore for the fourth quarter of FY2016, up from Rs 11.4 crore in the same period of the previous fiscal year. Technical analysis indicates the stock could rise further from current levels. Dena Bank reported a net loss of Rs 326.39 crore for the fourth quarter, down from a net profit of Rs 55.82 crore a year ago, as provisions for bad loans rose sharply. US stocks fell on Friday as lower oil prices weighed on energy stocks and disappointing results from retailers added pressure. Asian markets are trading higher on Monday on expectations of a steady start to trading in India.
- Petronet LNG reported a 20% decline in net profit to Rs. 239 crore for Q4 FY2016 compared to Rs. 300 crore in Q4 FY2015, despite getting LNG from Qatar at cheaper rates. Revenue also fell 15.1% to Rs. 6,065 crore.
- Technical outlook for Petronet LNG is bearish, suggesting the stock may fall from current levels.
- Voltas reported a 49.5% rise in consolidated net profit to Rs. 176 crore for Q4 FY2016 compared to Rs. 118 crore a year ago. Revenue grew 27.4% to Rs. 1,936 crore.
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
Private lender City Union Bank today reported a 13.36% increase in net profits to Rs 112.23 crore for the quarter ended March 31, 2016 compared to the same period last year. Total income also increased during this period. For the full fiscal year, the bank's net profit grew 12.57% to Rs 444.69 crore. An arbitration tribunal has directed state-owned Steel Authority of India (SAIL) to pay about $48 million to Essar for illegally terminating a contract and causing damages. Wall Street ended lower on concerns that the US Federal Reserve could raise interest rates sooner than expected based on comments from some Fed officials. The Indian equity market is likely to open lower today tracking weakness in
The document provides analysis and recommendations on various stocks from a research analyst. It discusses movements in the Jet Airways and Tata Power stocks and provides technical analysis and recommendations to buy or sell the stocks within certain price ranges. It also mentions that Tata Power will acquire Welspun Energy's solar portfolio in a large transaction valued between Rs. 6000-7000 crore. Global market cues are provided, noting Asian markets opened sharply lower due to fears around the upcoming Brexit vote and central bank meetings. The analysis indicates the Indian market will likely open lower on Monday.
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.
- Domestic air passenger traffic in India rose 21.63% in April compared to the same period last year. IndiGo maintained the highest market share at 38.5%.
- Technical analysis indicates TCS stock could rise, signaling to buy in the range of 2650-2660 with a target of 2715.
- Markets opened higher on hopes of Britain remaining in the EU after this week's referendum vote, but gains were cut in half by the end of the session.
Larsen & Toubro's construction arm wins orders worth Rs 3,598 crore across various business segments, including a major order of Rs 1,849 crore from the Telangana government for an irrigation project. Technical analysis indicates L&T stock is in an uptrend and recommends buying in the range of 1545-1552 with a target price of 1585. Aurobindo Pharma is recommended for buying in the range of 758-762 with a target of 777 based on technical indicators showing the stock is in an uptrend. Asian markets open mixed ahead of the important US jobs report while Indian markets are also expected to open mixed.
TVS Motor has received a patent for an air-injection system that reduces emissions during engine deceleration. The system improves fuel economy by reducing fuel supply during deceleration. TVS Motor filed the patent application in 2008.
Mangalore Chemicals has stopped urea production from May 7 due to water shortage. Production will resume once water is available again.
US stocks rebounded from early losses on Friday after jobs data was less disappointing than initially thought. Asian markets are trading mixed ahead of Chinese inflation data.
- 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.
- Foreign institutional investors (FIIs) have raised their stake in Maruti Suzuki to 22.08% in Q2FY16 from 21.75% in Q1FY16, while domestic institutional investors (DIIs) have reduced their shareholding to 14.43% from 14.58%.
- Maruti Suzuki's total car sales rose 3.7% in September 2015 to 113,759 units from 109,742 units in September 2014. Domestic sales increased 6.8% to 106,083 units.
- The technical outlook is positive, suggesting to buy Maruti Suzuki in the range of Rs. 4,460-4,475 for a target of Rs. 4,565 with
The document provides a summary of US, Asian, and Indian stock market performance on the last trading day of 2016. It also discusses key corporate news in India, including a proposed corporate tax rate cut and auto sales figures for December. Two stocks, HCC and Adanient, are recommended as buy opportunities based on technical analysis showing increased buying volume and momentum indicators signaling more positive momentum.
The document provides a summary of global and Indian stock market activity. It notes that Wall Street fell on Friday due to losses in Exxon and JPMorgan Chase as investors weighed corporate earnings reports. Asian shares were steady on Monday as investors looked to upcoming US economic policies. The Indian market is expected to open flat, tracking Asian indices. It also provides recommendations to buy two Indian stocks, INDIANB and GSFC, based on technical analysis showing positive momentum.
- 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
Apollo Tyres reported a 20.26% decline in net profit for the fourth quarter ended March 31, hit by imports of Chinese tyres. Net sales also declined compared to the same period last year.
The technical outlook for Apollo Tyres is bearish, as the stock has been in a lower top, lower bottom formation and trading below its 100 day moving average, pointing to further downside.
Hero MotoCorp formed a strategic partnership with Speedbrain for motorcycle rally racing. The technical outlook is positive for Hero MotoCorp as the stock found support near 2850, is trading above its 50 day moving average, and momentum is positive.
US stocks dropped after disappointing results from Disney,
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.
Lupin reported a 47.5% rise in net profit for the fourth quarter of fiscal year 2016, beating analyst estimates. Higher drug sales in the US, Lupin's largest market, drove growth. Total income increased 35.9% during the quarter.
Technical analysis indicates Lupin stock has broken above a strong resistance level and its 50-day moving average, suggesting an upward trend over the short to medium term. The analyst recommends buying the stock between Rs. 1645-1655, targeting Rs. 1688, with a stop loss of Rs. 1628.
Technical analysis also finds Rajshree Sugars stock has formed a bearish double top pattern and recommends selling between Rs. 47
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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.
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.
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.
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.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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Global View
India Update
Today’s Event/ Stock in News
Tata Motors today posted three-fold rise in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter
ended March 31, driven by strong performance of its British arm JLR and robust volume growth of its heavy and medium
commercial vehicles. The city-based company had posted a consolidated net profit of Rs 1,716.5 crore in the same period
last fiscal, Tata Motors said in a BSE filing.
Technical Outlook: On daily chart, stock has given positive breakout of its range bound move with above average volume,
which indicates for robust upside movement that can be seen in next few trading session. Moreover, stock has been
trading above its 50 day moving average which is placed at 390 level, which shows that near to short term trend is up and
stock could accelerates its upside movement. A momentum indicator RSI reading is at 66 level with positive crossover,
which point out for positive breath in the stock. So for trading perspective, one could Buy in the range 418-421 for the
Target of 430 with the SL of 413.80
TATAMOTORS
BERGEPAINT
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Morning Tea
31st May 2016
Buy in the range of 292-294 for the Target of 300 with the SL of 289
Buy in the range of 418-421 for the Target of 430 with the SL of 413.80
Berger Paints India Ltd, a premier global paints and coatings manufacturer, on Monday has reported a growth of 59.7 per
cent in its consolidated net profit after taxes (PAT) at Rs 92.77 crore for the fourth quarter ended March 31, 2016. “The
consolidated PAT of the company stood at Rs 58.08 crore during the same period a year ago,” said Berger Paints India Ltd
in a filing to the Bombay Stock Exchange on May 30, 2016.
Technical Outlook: On daily chart, stock has been trading in a broadening rising wedge formation since last two months.
Moreover, recently stock has taken support of its lower band of formation, which indicates for good bounce back in next
few trading sessions. Apart from this, stock has been trading above its 21 day moving average which is placed at 278.90
level, which shows that near term trend is up. A momentum indicator RSI reading is at 64.70 level with positive crossover,
which point out for positive breath in the stock. So for trading perspective, one could Buy in the range of 292-294 for the
Target of 300 with the SL of 289.
Asian stocks trading mixed Monday, despite futures pointing to a higher open. Australia's ASX 200 was trading effectively flat,
weighed by a 0.81 percent decline in its materials subindex. Major Australian resource producers were under pressure, with Rio
Tinto dipped 0.13 percent, Fortescue Metals down 1.32 percent and BHP Billiton was lower by 0.1 percent. Japan's benchmark
Nikkei 225 index was up 0.72 percent; while Hong Kong's Hang Seng index opened higher by 0.17 percent. Chinese markets were
lower, with the Shanghai composite lower by 0.43 percent and the Shenzhen composite dropping 0.821 percent. Across the
Korean Strait, the Kospi was down 0.36 percent, despite a South Korean central bank survey of 1,700 manufacturers showing that
business confidence was at a seven-month high. Japan's April retail sales fell 0.8 percent year-on-year, compared to market
consensus for a 1.2 percent decline, according to Reuters.
The Indian market is likely to take a breather and consolidate at open Tuesday, following a five-day rally which saw the
Nifty testing the 8200 mark intraday and ending at the highest level in last 8 months. In Singapore, SGX Nifty was trading 18.00
points up at 8,213.50 in early trade. All eyes are now on the GDP data for fourth quarter and FY16 to be released today. For Q4,
growth is estimated at 7.3 percent with agriculture sector likely to pick up and manufacturing unable to sustain at 12 percent
levels. Among other markets, Asian stocks were trading higher with China leading the pack.
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Bulk Deal
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Morning Tea
31st May 2016
Security in Ban
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Sr. No. Deal Date Script Code Security Name Client Name Deal Type Quantity Price
1 30/05/2016 523236 SHRENUJ SUNIL CAPITAL B 1890548 2.13
2 30/05/2016 523236 SHRENUJ SUNIL CAPITAL S 1390549 2.22
3 30/05/2016 532826 RAJTV KIRAN KUMAR M B 273562 56.66
4 30/05/2016 539392 SANGFROID ROSHANLAL DAULATRAMAGGARWAL B 229573 4.50
5 30/05/2016 539392 SANGFROID ROSHANLAL DAULATRAMAGGARWAL S 212697 4.51
6 30/05/2016 539311 NFIL ASHISHBHAI JITENDRABHAI JOSHI B 200000 12.50
7 30/05/2016 517467 MARSONS DEEPAK BIRADAR B 199999 14.52
8 30/05/2016 538771 PINCON YOUTHVISION COMMODITIES PRIVATE LIMITED S 190676 114.77
9 30/05/2016 539593 SHIVA VISHAL SAYAMGURNANI B 157000 15.82
10 30/05/2016 514366 CITIZYN PUNAJI SOMAJI THAKOR B 155111 4.87
Corporate Action:
Page Industries Limited; Interim Dividend Rs 22/- Per Share (Purpose Revised)
Indian Card Clothing Company Limited; Special Dividend Rs.12/- Per Share
Result Calendar:
ASIANFR, DUTRON, KAPILCO, KCL, NAINAMS, RAJTUBE, REGENCERAM, SAUMYA, SHNALUM, SIDDHA,
VKSPL.
Corporate Action / Result Calendar
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Research Team
Mr. Sumeet Bagadia Associate Director
Kunal Parmar Research Associate
Amit Pathania Research Associate
Vikas Chaudhari Research Associate
Kapil Shah Research Associate
Rajnath Yadav Research Associate
Satish Kumar Research Associate
Morning Tea
31st May 2016
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Kapil Shah
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DN: cn=Kapil Shah, o=Choice Equity Broking Pvt
Ttd., ou=Research Department,
email=kapil.shah@choiceindia.com, c=IN
Date: 2016.05.31 08:35:57 +05'30'