Wednesday, 31 January 2018

Markets witness volatile trading session ahead of Union Budget | Trade Nivesh

Markets witnessed extreme volatility in today’s trade. Bank Nifty was the clear outperformer witnessing a smart recovery in the last hour of trade. Kotak Mahindra Bank and HDFC Bank were the major contributors ending 1.93% and 0.43% higher, respectively. MidCap stocks continued o witness selling pressure ending lower for the 5th consecutive session.
Nifty Index February futures witnessed a reduction in open interest to the tune of ~1.58 lakh shares, while Nifty Bank futures witnessed a fresh surge in open interest to the tune of 49,000 shares mainly long positions.
Tracking the Nifty options, heavy option writing was witnessed in out of the money strikes with Nifty 11400CE and 11500CE adding ~10 lakh shares and ~11 lakh shares, respectively, while 10700PE and 10500PE also witnessed a surge in open interest to the tune of ~ 4.3 lakh shares and 4.21 lakh shares, respectively consisting mainly short positions as traders looked to benefit from a drop in implied volatility after the announcement of Union Budget.

  India VIX ended the session at 15.93%, down 2.98%

Market Live: Sensex opens lower, Nifty holds 11,000; IOC, Bharti Airtel gain | Trade Nivesh

The Shares of Indian Oil Corporation (IOC) gained 3 percent intraday on Wednesday as investors cheered the company’s stellar financial results for the December quarter.
The oil marketing company’s third quarter earnings beat analyst expectations on Monday as standalone profit during the quarter more than doubled to Rs 7,883 crore, from Rs 3,696.3 crore in previous quarter.
The bottomline was far ahead of CNBC-TV18 poll of Rs 5,222 crore for the quarter.
Nifty rejig: The National Stock Exchange’s (NSE) benchmark index, Nifty, will be undergoing a fresh round of rebalancing, effective April 2018.
Based on a few parameters, the index undergoes changes, wherein some stocks get replaced by others.
Brokerage house IDBI Capital believes that there is a high probability of names such as Ambuja Cements, Aurobindo Pharmaceuticals as well as Bosch being included in the frontline index. Meanwhile, stocks such as Grasim, Bajaj Finserv and Titan are likely to be excluded from the list.
Market Opens: The market began the session on a mildly lower note, with the Nifty holding 11,000-mark.
The Sensex is down about 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80. The market breadth still continues to be negative as 413 shares advanced, against a decline of 639 shares, while 140 shares are unchanged.
Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories and Indiabulls Housing were the top losers.
Midcaps continued to be weak, with the Nifty midcap index trading around 0.40 percent lower.
The Indian rupee opened lower at 63.67 per dollar on Wednesday versus previous close 63.60.
Pramit Brahmbhatt of Veracity said, "On the back of negative cues from domestic equity market, the rupee will remain under pressure."
"We expect the USD-INR pair to trade in a range of 63.50-64," he added.
Asia stocks eased on Wednesday, pulling further back from record highs, as the recent rise in global bond yields weighed on equities.
MSCI's broadest index of Asia-Pacific shares outside Japan added to the previous day's losses and dipped 0.1 percent, after reaching a record high on Monday.
Australian stocks shed 0.4 percent, South Korea's KOSPI lost 0.3 percent and Japan's Nikkei dropped 0.3 percent.
US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop since September 2016, pressured by healthcare stocks and rising bond yields.
The Dow also had its biggest daily percentage decline since May 2017 and the day's 1.37-percent fall was the second-biggest single-day drop since the election of Donald Trump, slated to give his first State of the Union speech later Tuesday.
US Treasury yields climbed to multi-year highs after the start of the Federal Reserve's two-day meeting, which could shed light on the central bank's economic and rate hike outlook.

Tuesday, 30 January 2018

Profit booking visible in mid & small-cap stocks; top 20 stocks which plunged up to 60%

For the past one month, analysts’ across brokerage firms were advising investors to either book profits in mid & smallcap space or square up any leverage bets related to high beta stocks to avoid getting caught up in a selling frenzy.

The S&P BSE Sensex might have risen by about 7 percent so far in 2018, but small & midcap stocks slipped up to 60 percent in the same period. A word of caution was already flagged by analysts in the begging of the year.

Even though the broader market has produced many multibagger stocks but some of them are experiencing a selloff especially in the smallcap space.
Some of the stocks in the S&P BSE Smallcap index which plunged up to 60 percent include names like Orient Paper, followed by Yamini Investments, Jaypee Infratech, Gujarat NRE Coke, Monnet Ispat, Jaiprakash Power Ventures, and Electrosteel Steels Ltd among others.

“Smallcap and midcap stocks have witnessed a significant rally over the last few years. This has resulted in their valuations running-up ahead of the expected earnings growth,” Manish Kumar, Chief Investment Officer, ICICI Prudential Life Insurance Company Limited.

“Hence, the P/E multiples of small and mid-cap stocks are more expensive as compared to large-cap stocks resulting in a higher risk-to-reward ratio for this category,” he said.

In the midcap space, stocks like Reliance Communications (down 24%), Kansai Nerolac (down 16%), Page Industries (down 14%), Reliance Capital (down 12%), Max Financial Services (down 11%), Tata Communications (down 11%), and Reliance Infrastructure (down 8%).
A large part of the outperformance in the broader market was related to strong liquidity flow from domestic investors which pushed valuations of many small & midcaps above historic averages.

Investors are advised to remain stock specific even if the markets correct from the current level. Avoid high beta names and stick to quality stocks across market themes.

The markets are trading at P/E multiples of approximately 20x FY19 estimated earnings. When compared to the historical range of 14x – 15x estimated earnings, the P/E multiples seems to be on the higher end of the spectrum.

Investors across the globe are eyeing double-digit growth in earnings. The Economic Survey released on Monday pegged growth rate at 7-7.5% for FY19 which should support the sentiment.

Sensex slips over 200 points; HDFC Bank, Infosys stock down

Benchmark indices open in the red on Tuesday after touching fresh record highs in Monday's trade, the day when the government released the Economic Survey. Today, weakness is seen in HDFC Bank, ICICI Bank, Infosys and TCS.

The BSE Sensex was trading at 36,074, down 209 points, while the broader Nifty50 index was ruling at 11,051, down 56 points.
The BSE Mid-Cap index was down 0.79%. The BSE Small-Cap index was down 1.11%. Both these indices underperformed the Sensex.

Wockhardt stock dropped 4.5% on the BSE. On
a consolidated basis, the company reported the loss after tax of Rs41cr in Q3 December 2017, lower than the loss after tax of Rs54cr in Q3 December 2016.

MOIL stock gained 3% after the company said that the meeting of board of directors of the company will be held on February 5, 2018, to consider the proposal for buyback of the fully paid-up equity shares of the company.

Welspun Corp stock up 1% after the company said that it has received additional orders for supply of 232 kilo metric tonnes (MTs) pipes.

Volatility index India VIX advanced 0.25% at 17.9325.

Airtel (+1.2%), Bajaj- Auto (+0.98%), SBI (+0.91%), Hero MotoCorp (+0.84%) and GAIL (+0.54%) were the top gainers on Nifty50.

Zee (-1.8%), Eicher (-1.7%), Asian Paints (-1.6%), Coal India (-1.5%) and Adani Ports (-1.4%) were the top losers in today’s trade.

Out of 2,002 stocks traded on the NSE, 366 advanced, 1,221 declined and 415 remained unchanged today.

A total of 13 stocks registered a fresh 52-week high in trade today, while 21 stocks touched a new 52-week low on the NSE.

Monday, 29 January 2018

Sensex, Nifty remain strong; HDFC, Inox Leisure stock gain | Trade Nivesh

Benchmark indices were near their lifetime highs, resonating the positive trend across most 

global markets and led by gains in Maruti Suzuki.
The BSE Sensex was trading at 36,305, up 255 points, while the broader Nifty50 index was ruling 

at 11,129, up 59 points.

The Economic Survey for 2017-18 (Apr-Mar), which sets the scene for Finance Minister Arun 

Jaitley's fifth annual budget, forecast's the country's GDP growth at 7-7.5% for the fiscal starting 

April, against 6.75% for the ongoing financial year. The survey expects a 12% rise in average 

crude oil prices in 2018-19.

Investors took comfort from a likely fall in real interest rates, which will boost consumption. 

Private capital expenditure is also likely to rebound.

Shares of Dr. Reddy's Laboratories were down 5% as the US Food and Drug Administration may 

conduct a fresh round of audit of the company's unit in Duvvada, Andhra Pradesh, in the next few 

months. 

Shares of Steel Strips Wheels rose 1% today after the company said it has bagged an export 

order to supply 17,000 steel wheels to the European Union Caravan market.

Volatility index India VIX gained 2.39% at 17.9275.

Maruti (+4%), Eicher (+3.8%), UPL (+3.2%), Zee (+3.2%) and Indiabulls HF (+2.7%) were the top 

gainers on Nifty50.

Dr. Reddy’s (-4.4%), GAIL (-2.9%), Lupin (-2.3%), Airtel (-1.9%) and ITC (-1.8%) were the top 

losers in today’s trade.

Out of 2,026 stocks traded on the NSE, 651 advanced, 1,061 declined and 314 remained 

unchanged today.

A total of 53 stocks registered a fresh 52-week high in trade today, while 18 stocks touched a 

new 52-week low on the NSE.
Avenue Supermarts shares gained 5 percent as Q3 net profit grew by 65.8 percent to Rs 251.8 crore and revenue rose 22.6 percent to Rs 4,094.8 crore compared to year-ago period.

Operating profit jumped 46.4 percent to Rs 421.8 crore and margin expanded to 10.3 percent from 8.63 percent YoY.

More than 70 companies will announce their December quarter earnings today, which include Emami , HDFC, Tech Mahindra, Apar Industries Limited, Astra Microwave Products, Astron Paper & Board Mill, Automobile Corporation Of Goa, Balaji Amines Limited, Balaji Amines, Balmer Lawrie, Binani Industries, Century Textiles, Elgi Equipments, Emkay Global Financial Services, Himadri Speciality Chemical Limited, INOX Leisure Limited, IDFC, Indian Metals & Ferro Alloys, Laurus Labs, Maharashtra Scooters, Mahindra Logistics, Novartis India, Orient Cement, Ramkrishna Forgings, Reliance Communications, SIS, Shakti Pumps, Siyaram Silk Mills, SPARC, Subex and Wockhardt.
 Newgen Software Technologies is set to make its debut on exchanges today after good response to the initial public offer. The company has fixed issue price at higher end of price band of Rs 245 per share.

The initial public offer (IPO) of the IT firm was oversubscribed 8.25 times during January 16-18, 2018.

The Rs 425-crore IPO had received bids for more than 10 crore shares against the total issue size of 1.22 crore shares, as per data available on the NSE website.

The IPO comprised of fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.

Benchmark indices staged smart performance in opening the first day of Budget week as the Sensex and Nifty hit fresh record highs, tracking positive trend in Asian peers and ahead of Union Budget 2018.

Thursday, 25 January 2018

L&T Tech at lifetime high; investors buy on growth hope

Shares of L&T Technology Services hit a lifetime high of Rs 1,425.8, rising sharply for the second trading session following strong results in the December quarter, as investors bought the stock due to its growth prospects.
L&T Technology Services, which provides engineering, and research and development services, aims to end 2017-18 (Apr-Mar) with 18% growth in sales in dollar terms, led by large order wins in the avionics, internet of things, and artificial intelligence segments.
L&T Technology Services is currently trading at Rs 1327.25, up by Rs 110.7 or 9.1% from its previous closing of Rs 1216.55 on the BSE. The scrip opened at Rs 1249 and has touched a high and low of Rs 1422 and Rs 1173.6 respectively. So far 679771 (NSE + BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
L&T Technology Services, a subsidiary of L&T, focuses purely on engineering research & development (ER&D). Its end market revenue mix in FY 17 included transportation (33%), industrial products (26%), telecom & Hi-tech (18.7%) and process-industry (15.3%). Company's revenue has grown at 11% over FY 15-17. The company’s order backlog stood at USD220mn as on 2QFY18. It recently won a landmark five year USD50mn project from a leading aerospace electronic systems manufacturer.
In-house ER&D centers in India would grow 13.3% CAGR over CY 17-20. With its leadership position, LTTS is likely to be key beneficiary from the growing ER&D market as it has ~50 of top 100 ER&D spenders as clients. LTTS’ s T30A3 (Top-30 Adjacent-30) strategy and increasing vendor consolidation would drive 15.1% revenue CAGR over FY17-20E.  EBITDA margins would recover from 15.6% in FY18E to 17.8% in FY20E. We forecast PAT at 16.4% CAGR over FY17-20E. Its premium to Cyient is warranted on account of broader customer portfolio, better EBITDA margin and better ROEs.

Nifty turns choppy after opening on a positive note.| trade Nivesh Investment

Nifty turns choppy after opening on a positive note.

PSU banks gain in trade post government allocates capital to banks when the market commenced today’s trade. Later PSU Bank index erased early gains and is also the top loser among all the sectoral indices followed by IT, FMCG and Realty index. On the other hand, Metals index is the top gainer.

Crucial support for Nifty is at 10,970 levels.

At 9:40 AM, the BSE Sensex was trading at 36,061, down 100 points, while the broader Nifty50 index was ruling at 11,066, down 16 points.

Volatility index India VIX down 0.63% at 17.9250.

Vedanta (+2.5%), Hindalco (+2%), Cipla (+1.7%), L&T (+1.3%) and GAIL (+1.2%) were the top gainers on Nifty50.

SBI (-2.5%), Tech Mahindra (-2.3%), Yesh Bank (-2.2%), TCS (-1.8%) and HCL Tech (-1.8%) were the top losers in today’s trade.

Out of 2,003 stocks traded on the NSE, 731 advanced, 843 declined and 429 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 9 stocks touched a new 52-week low on the NSE.

Wednesday, 24 January 2018

JMC Projects secures new orders of Rs751cr | Trade Nivesh Investment

JMC Projects stock is up 1.5% today on the back of the news that the company has secured new orders of Rs751crores.

The details are as follows:
• Two commercial projects and a residential project in South India totaling Rs448cr.
• Two residential projects and one industrial project in Northern and Eastern India totaling Rs303cr.

JMC Projects (India) Limited (JMC), a subsidiary of Kalpataru Power Transmission Limited, is India's leading civil EPC Company. In last three decades, JMC is into constructing highways, expressways, bridges, flyovers, townships, high-rise buildings, hospitals, industrial units, power plants among others.

JMC Projects is currently trading at Rs594.7, up by Rs4.55 or 0.77% from its previous closing of Rs590.15 on the BSE.

Tuesday, 23 January 2018

Nifty crosses 11k, markets close at record highs for fifth day in a row |Trade Nivesh Investment

Markets opened gap up and continued its positive momentum right through the day. Nifty managed to close above 11,000 for the very first time. Bank Nifty was the outperformer in today’s trade gaining 1.29%.
Punjab National Bank and Bank of Baroda were the star performers gaining 5.57% and 5.07% respectively. Advance decline ration closed at 1:1x.
Nifty Index futures and Bank Nifty Index futures witnessed a surge in open interest to the tune of ~33 lakh shares/~2.86 lakh shares respectively by taking Jan and Feb series into consideration, indicating a build-up of long positions.
Tracking the Nifty options, 10900CE and 11000CE witnessed a sharp reduction in open interest to the tune of 19 lakh shares and 27 lakh shares respectively as call writers ran for cover as the markets witnessed a steep surge.

While heavy put writing was witnessed in 11000 strikes which added 33 lakh shares.

India Vix ended the day at 16.22 up 5.43%.

Market Live: Nifty hits 11,000 for first time, Sensex at 36,000; Axis Bank up 2% |Trade Nivesh Investment

Buzzing stock: Shares of Indian Oil Corporation (IOC) rose more than 4 percent in the early trade on Tuesday as board to consider bonus on January 30.

A meeting of board of directors is scheduled on January 30 to consider and approve the unaudited financial results of the company for the quarter ended December 31, 2017.

The board may also consider declaration of interim dividend for the financial year 2017-18 and issue of bonus shares in the said meeting.

9:40 am Axis Bank surges: Shares of Axis Bank gained 2 percent intraday on Tuesday as investors cheered the bank’s December quarter financial performance.
The bank’s earnings beat analyst expectations, with improvement in asset quality performance.

Profit during the quarter grew by 25.3 percent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.

Net interest income, the difference between interest earned and interest expended, grew by 9.2 percent to Rs 4,731.52 crore compared to Rs 4,333.73 crore in year-ago, with strong loan growth at 21 percent YoY.

 Sensex hits 36,000: The Sensex has now hit the psychological mark of 36,000 for the first time ever. The index is currently trading over 200 points higher. The index had hit 35,000 just last week.

9:27 am Buzzing stock: Shares of Kalpataru Power Transmission added 11 percent in the early trade on Tuesday as company received orders worth Rs 871 crore.

The company secured new orders/ notification of award of Rs 871 crore, which includes orders worth Rs 282 crore for design, supply and construction of substations and associated transmission line work from APTRANSCO.

 Market opens: Shares began the day on another strong note, with the Nifty hitting a fresh milestone of 11,000 in the first few minutes of trade. The Sensex gained over 100 points.

 The Sensex is up 134.91 points or 0.38% at 35932.92, and the Nifty up 43.00 points or 0.39% at 11009.20. The market breadth was positive as 523 shares advanced, against a decline of 246 shares, while 152 shares are unchanged.

Axis Bank gained around 2 percent on the back of its December quarter performance.

BHEL, Coal India, IOC and Yes Bank gained the most, while Hero MotoCorp, Asian Paints, HUL, and Zee Entertainment were the top losers.

The Indian rupee opened lower at 63.90 per dollar on Tuesday versus previous close 63.87.

Bhaskar Panda of HDFC Bank said, "Any rally around or move above 64 is meeting with customer selling. For today, expect a range of 63.70-63.90 to hold."

"The yields of the Indian benchmark is trying to find a base just above 7.40 percent. Expect today's range between 7.44-7.48 percent, "he added.
Among global markets, Asian stocks advanced after US senators struck a deal to end a three-day government shutdown, sending Wall Street's main indexes to record highs and keeping the dollar well supported.

US lawmakers passed a short-term measure on Monday to fund the federal government through February 8.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent to a fresh record peak.

Meanwhile, US stocks advanced as each of Wall Street's main indexes touched a record intraday level after US senators struck a deal to end the federal government shutdown.

US senators voted to move forward on legislation that would reopen the federal government until February 8. Funding legislation cleared a procedural hurdle in the Senate and was expected to pass a full Senate vote promptly, allowing government to re-open.

"The only way politics affects what the market does is if they end of having a negative impact on the economy and corporate earnings and so far that hasn't been the case," said Michael Arone, Chief Investment Strategist at State Street Global Advisors in Boston.

Monday, 22 January 2018

TCS, RIL drive market to record close; Sensex up 286 pts, Bank index above 27K | Trade Nivesh Investment

The party continued at Dalal Street which showed the bulls are not ready to give up as benchmark indices scaled to fresh record closing high on Monday, driven by TCS and Reliance Industries.
All sectoral indices barring Nifty Metal and PSU Bank ended in the green. The IT index led the charge with more than 2 percent gains.
The market today started at record high and immediately turned volatile in morning, but gained solid strength in last hour of trade despite tepid global cues. The rally is largely on the back of better-than-expected earnings so far and ahead of Union Budget that will be presented on February 1.
The 30-share BSE Sensex rallied 286.43 points or 0.81 percent to 35,798.01, which is 200 points away from 36,000-mark.
The 50-share NSE Nifty jumped 71.50 points to 10,966.20, which is 34 points away from the 11,000 level that technical as well as fundamental analysts have been waiting for.
Not only benchmark indices buy also the Nifty Bank index continued its record-hitting spree, closing above 27,000 level for the first time. It was up 132 points at 27,041.20 at close.
The broader markets, which were underperforming benchmark indices in morning, also participated in the run-up in last hour of trade. The Nifty Midcap index was up 0.93 percent and BSE Smallcap gained 0.8 percent, though the market breadth was not strong.
About 1,592 shares advanced against 1,328 declining shares on the BSE.
Axis Bank post its better-than-expected earnings rallied 3.6 percent and helped the Nifty Bank close higher. Yes Bank continued its rally, up 1.7 percent and HDFC Bank gained half a percent.
However, other major banks like SBI, ICICI Bank, Bank of Baroda, PNB etc fell 0.2-0.9 percent after the Assocham-Crisil study said the gross non-performing assets would increase to "Rs 9.5 lakh crore as on March 31, 2018 (from 8 lakh crore at March 2017) i.e. about 10.5 percent of total advances, while stressed assets are expected to be at Rs 11.5 lakh crore".

Nifty opens above 10,900 mark; Reliance Industries, ONGC stocks gain | Trade Nivesh Investment


Domestic benchmark indices opened higher and hit their lifetime highs, led by gains in shares of Oil and Natural Gas Corp and Reliance Industries. The broader markets were trading with a positive bias as the BSE MidCap Index and BSE SmallCap Index gained over 0.2%.

 The BSE Sensex was trading at 35,561, up 50 points, while the broader Nifty50 index was ruling at 10,904, up 9 points.

Shares of ONGC rose over 5% today as Hindustan Petroleum Corp's  (HPCL) buyout valuation is seen favorable for the company. However, shares of HPCL fell over 2% as the price at which ONGC said it will buy the stake in the company was much below market expectations.

Shares of Reliance Industries rose over 2% today as the company's consolidated net profit for Oct-Dec rose 25.1%, beating analysts' estimate.

Shares of Wipro fell over 1% today as the company posted an 11.9% decline in its Oct-Dec consolidated net profit to Rs1800cr.

Volatility index India VIX inched up 4.77% at 14.6500.

Indiabulls HF (+5.7%), ONGC (+5.3%), Adani Ports (+4.9%0, Yes Bank (+2.4%) and RIL (+2.3%) were the top gainers on Nifty50.

Ambuja (-3%), UltraTech (-2.1%), HPCL (-1.3%), Infosys (-1.3%) and Aurobindo (-0.87%) were the top losers in today’s trade.

Out of 1,656 stocks traded on the NSE, 838 advanced, 620 declined and 198 remained unchanged today.

A total of 12 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

Thursday, 18 January 2018

Nifty jumps above 10,870 mark; Yes Bank, HDFC Bank stock lead |Trade Nivesh Investment

Benchmark indices jump-started the session at fresh lifetime highs tracking global markets and underpinned by gains in banks and fast moving consumer goods companies. Nifty Bank gained over 500 points after media report stated that the government is considering allowing 100% FDI in the banking sector.
At 9:47 AM, 
The BSE Sensex was trading at 35,446, up 364 points, while the broader Nifty50 index was ruling at 10,879, up 90 points.
The Nifty PSU Bank index, up 1.8%, was the top gaining sectoral index, led by near 2% gains in shares of State Bank of India.
The Nifty FMCG index gained 0.8% led by near 2% gains in shares of Hindustan Unilever, as the company reported a higher-than-expected Oct-Dec net profit.
Shares of Emami Paper Mills rose 3% after L&T mutual fund bought 5.42% stake in the company through multiple block deals on the BSE.
Bharti Infratel stock slipped over 2.5% after the company posted 6% fall in consolidated net profit to Rs585cr for the December quarter of the current fiscal on higher costs.

The BSE Mid-cap and BSE Small-cap indices were up 0.48% and 0.97%, respectively.

Volatility index India VIX slipped 1.10% at 13.7150.

Yes Bank (+4%), UPL (+3%), HDFC Bank (+2.5%), IndusInd Bank (+2.3%) and HDFC (+1.9%) were the top gainers on Nifty50.

Infratel (-2.6%), GAIL (-1%), Infosys (-0.85%), Hindalco (-0.80%) and IOC (-0.78%) were the top losers in today’s trade.

Out of 2,006 stocks traded on the NSE, 1,248 advanced, 349 declined and 409 remained unchanged today.

A total of 54 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.

Wednesday, 17 January 2018

Sensex hits 35K; Nifty Bank hits new all-time high |Trade Nivesh

Equity benchmarks remained strong in afternoon, with the Sensex hit 35,000 level for the first time. The Nifty Bank hit fresh all-time high led by PSU banks after government reduced requirement of additional borrowing for the year and early resolution to Bhushan Steel case.
At 2:57 PM, the BSE Sensex was trading at 35,039, up 268 points, while the broader Nifty50 index was ruling at 10,774, up 74 points.
Shares of Bharat Heavy Electricals recovered losses after the company said it has received an order worth Rs28 bn to set up a 660-MW coal-based thermal power unit at Jalgaon, Maharashtra.
Shares of Zee Entertainment Enterprises were weak after the company reported consolidated net profit of Rs3.2 bn for the quarter ended December, below analyst expectations of Rs3.64 bn.
MCX slipped over 5% after the company posted a 35.6% fall in consolidated net profit at Rs18.8cr for the December quarter over the previous quarter ended September 30, 2017, on lower volumes in the bullion segment.
The BSE Mid-cap and BSE Small-cap indices were up 0.60% and 0.35%, respectively.
Volatility index India VIX slipped 2.32% and is currently at 13.75 levels.
Some of the buying sectors seen in IT, pharma, bank, metal, FMCG, auto and financial services, while media sector is losing sheen on the NSE.
SBI (+3.8%), Aurobindo (+3%), Axis Bank (+2.9%), In
fosys (+2.5%) and Yes Bank (+2.2%) were the top gainers on Nifty50.
Zee (-2.8%), Wipro (-1.9%), Hero MotoCorp (-1.4%), Infratel (-1.3%) and Ambuja (-1.2%) were the top losers in today’s trade.
Out of 2,012 stocks traded on the NSE, 818 advanced, 893 declined and 301 remained unchanged today.
A total of 65 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

Nifty holds 10,700 mark; TCS, Infosys up 2% | Trade Nivesh Investment

Markets have turned quite volatile in the early trades. After opening in a flat note and slipping at open, indices are back in the green thanks to smart gains in the PSU and Private banks.
The BSE Sensex was trading at 34,857, up 86 points, while th
e broader Nifty50 index was ruling at 10,711, up 10 points.

Shares of IT companies extended their gains from the previous session as the Nifty IT index rose 1.7% in early trade, led by chart-topping gains in shares of Infosys and Tata Consultancy Services.

Shares of Sun Pharmaceutical Industries rose over 1% as the company said it has settled a US patent infringement case involving its generic version of anti-constipation drug Linzess.

GAIL India's stock was up over 1% as the company and Russia's Gazprom have renegotiated their long-term 2.5-mtpa liquefied natural gas supply pact.

However, gains were capped by an extended decline in shares of state-owned lenders as the Nifty PSU Bank index, down 0.4%, was the worst performing sectoral index.

Metal stocks also continued to be weak with the Nifty Metal index paring 0.3% in early trade.

Tuesday, 16 January 2018

Nifty trades below 10,700 mark; Coal India, HPCL down 4% | Trade Nivesh

Benchmark indices were flat in trade due to profit booking post three sessions of gains. Positive cues from other Asian equity markets, however, provided support to the indices.
the BSE Sensex was trading at 34,784, down 64 points, while the broader Nifty50 index was ruling at 10,695, down 47 points.
Shares of information technology companies held onto their early session gains. The Nifty IT Index was up 3.6%, after hitting its near three-year high earlier.
Shares of Trigyn Technologies rose over 10% to their six-month high after the company bagged a multi-year order from African Regional Intellectual Property Organization.
TCS stock gained 3% after the company has introduced digital subscription platform on Microsoft Azure.
Barring IT and Teck, all other BSE sectoral indices were trading in the negative zone. Among them, realty index fell the most by 2.75%, followed by metal 2.24%, PSU 1.8% and power 1.69%. On the other hand, IT index was up 3.34% and Teck 2.55%.
The BSE Mid-cap and BSE Small-cap indices were down 1.51% and 1.86%, respectively.
Volatility index India VIX slipped 1.78%.
Infosys (+4.5%), HCL Tech (+4.4%), Wipro (+4%), TCS (+3.7%) and Tech Mahindra (+2.9%) were the top gainers on Nifty50.
HPCL (-3.5%) Vedanta (-3.1%), Bajaj Finance (-2.5%), Tata Motors (-2.4%) Tata Steel (-2.3%) were the top losers in today’s trade.
Out of 2,014 stocks traded on the NSE, 333 advanced, 1,384 declined and 297 remained unchanged today.
A total of 106 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

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Top stocks in focus today: Federal Bank, BSE, Max Ventures | Trade Nivesh

Max Ventures and Industries' board has approved raising Rs 450cr by way of rights issue.

The Board of IDBI Bank has approved the proposal for preferential issue of capital to government of India up to Rs2,729cr, subject to statutory and regulatory approvals.

IndiGrid says that the Board of Sterlite Investment Managers acting as the investment manager of the trust has approved a distribution per unit of Rs2.89 per unit for third quarter of the fiscal.

Lupin plans to come up with regular product launches every 3-4 months and aims to be present across all the major OTC product categories.

Federal Bank reported a gross non-performing asset ratio of 2.52%, higher than 2.39% registered in the previous quarter. The bank reported a net profit of Rs260cr, above analysts' estimate of Rs240cr.

Tech Mahindra said it has partnered with Israeli firm ContextSpace Solutions to develop the world's first global software privacy ecosystem, MyData Shield.

BSE approves buyback of 15 lakh shares at Rs1100.

SBI to put Rs382cr soured education loans on sale.

Seamec bags contract worth $ 1.26 million from L&T Hydrocarbon for deployment of its vessel.

IMP Powers receives an order for manufacturing turbines from Germany’s Smart Hydro Power GmbH for a period of 20 years.

Zee Music in pact with Amazon Prime to provide music content.

Bharat Bijlee to receive Rs46.79cr from MIDC towards the acquisition of land situated at Navi Mumbai.

Friday, 12 January 2018

Nifty ends on a record high after witnessing a volatile trading session

Markets witnessed a whipsaw movement as 4 Supreme Court Judges criticised court functioning in an unprecedented press meet.

Oil & Gas stocks were the flavors of the day with ONGC and Reliance gaining ~1% each.

Benchmark indices outperformed the broader markets and closed on record highs.

Market breadth ended in favor of declines with Advance Decline ratio closing at 2:3x.

Tracking the Nifty options, in of the money call option strikes saw large unwinding of short positions as the index inched higher.

Nifty 10600CE saw an unwinding of 3.6 lakh shares in open interest, indicating a positive bias for the index going forward.

10700PE added ~10 lakh shares in open interest consisting of mainly short positions.

India Vix ended the day at 13.73 down 2%.


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Tata Chemicals completes sale of urea and customized fertilisers business to Yara Fertilisers | Trade Nivesh

Tata Chemicals Ltd (TCL) has completed the sale of urea and customized fertilisers business (Divestment Business) to Yara Fertilisers India Pvt Ltd. The company has received requisite regulatory approvals, after fulfillment of conditions precedent and sanctioned by the National Company Law Tribunal (NCLT).
Accordingly, the Certified Copy of the Order of NCLT sanctioning the Scheme has been flled electronically with the Registrar of Companies, Ministry of Corporate Affairs, on January 12, 2018. Thus, the Scheme has become effective from January 12, 2018 and the Divestment Business of the company pursuant to the Scheme stands transferred to Yara.
Tata Chemicals has received the consideration of Rs2,682cr (subject to post completion working capital adjustments) from Yara on January 12, 2018.
The divestment strategy from fertilizers business would help TCL to reduce its debt and deleverage its financials. Over the longer term, the management has identified growth areas such as specialty chemicals, consumer products as well as inorganic chemicals. Over FY17-19E, we expect EBITDA and PAT margins to expand by 240bps and 150bps respectively.

Tata Chemicals Ltd is currently trading at Rs775.05, up by Rs4.15 or 0.54% from its previous closing of Rs770.9 on the B

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Nifty hits all-time high | Trade Nivesh

Benchmark indices are open at record high on Friday ahead of Infosys earnings later today. The markets opened at fresh high on earnings optimism.
The BSE Sensex was trading at 34,606, up 102 points, while the broader Nifty50 was ruling at 10,688, up 37 points.
About 1,059 shares advanced against 272 declining shares on the BSE.
TCS stock trading lower on the NSE. Infosys stock gained 0.5% ahead of Q3 earnings later today.

The mid-cap and small-cap shares were broadly outperforming the benchmarks as the BSE Mid-
Cap Index rose 0.37% and the BSE Small Cap Index advanced 0.6%.

Thursday, 11 January 2018

Nifty closed above immediate resistance level of 10650 mark

Markets continue to remain resilient as benchmark index witnessed sharp recover in the trade today. Nifty Realty index continued its dream run, closing 2% higher, backed by the strong rallies in Godrej Prop, Oberoi Realty and IB Realty.

Capital First and IDFC Bank rallied on account of a speculation of a merger. Market breadth ended in favor of advances with Advance decline ratio closing at 1:1x.

Nifty and Bank Nifty Index futures added fresh open interest to the tune of ~5.04/1.88 lakh shares, indicating a buildup of long positions.

Tracking the Nifty options, out of the money call option strikes saw large unwinding of short positions as the index inched higher.

Nifty 10700CE saw an unwinding of 3.98 lakh shares in open interest, indicating a positive bias for the index going forward. 10600PE added ~13 lakh shares in open interest consisting of mainly short positions. India Vix ended the day at 14.01 down 0.2%.

Sensex, Nifty flat; Jindal Steel stock down 2% | Trade Nivesh Investment

Domestic benchmark indices opened flat today taking cues from weak Asian equity markets and US equities overnight. Nifty IT, Nifty Auto and Nifty FMCG were the only sectoral indices trading in green.
 the BSE Sensex was trading at 34,414, down 19 points, while the broader Nifty50 was ruling at 10,619, down 13 points.
Jindal Steel and Power fell 2% after CBI pressed bribery charge against Naveen Jindal for irregularities in the allocation of a Jharkhand coal block.
Maruti Suzuki India was up 0.16% at Rs 9,398.85 after the company announced a price increase ranging from Rs 1,700 to Rs 17,000 (ex-showroom- Delhi) across models with effect from 10 January 2018, owing to increase in commodity and other administrative & distribution costs.
Jai Corp stock surged after RIL through its personal investment firms is in talks with the company to buy its 24% stake in Navi Mumbai Special Economic Zone, as per media reports.
Shares of Tata Consultancy Services traded 0.3% lower ahead of the company's Oct-Dec earnings.
Shares of Infosys rose 1% on reports that the company plans to induct more members on board.
Welspun Enterprises gained 2% to Rs192.40 after the company entered into a concession pact with Madhya Pradesh government for Dewas water supply project.
The BSE Mid-cap and BSE Small-cap indices were up 0.07% and 0.26%, respectively.
Volatility index India VIX gained 0.97
%.
Indiabulls HF (+2.1%), Tech Mahindra (+1.4%), Infosys (+0.93%), Tata Motors (+0.52%) and ONGC (+0.43%) were the top gainers on Nifty50.
Cipla (-1.5%), Wipro (-1.4%), HPCL (-1.2%), Coal India (-1%) and Bajaj Fin (-0.89%) were the top losers in today’s trade.
Out of 2,001 stocks traded on the NSE, 802 advanced, 788 declined and 411 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE

Wednesday, 10 January 2018

Sensex ends flat, Nifty holds 10,600 ahead of Q3 earnings season

Benchmark indices settled flat on Wednesday as investors remained cautious ahead of key corporate earnings later this week and the federal budget next month.
Sentiment was subdued as broader Asian shares stepped back from their 2007 high, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.47 percent after six straight days of gains through Tuesday.
Finance Minister Arun Jaitley is expected to present the budget for the 2018/19 financial year on Feb. 1, amid investor concerns that the government could unveil some populist measures with heavier spending than this year.
Key corporate earnings will kick off this week. Tata Consultancy Services is due to post December-quarter results on Thursday, followed by Infosys on Friday.

Top stocks in focus today: Infosys, Electrosteel Steels, Apollo Micro Systems


Telecom stocks in focus today as Telecom Commission has decided to relax spectrum holding caps, giving a boost to M&As and spectrum sale, as carriers try to sell assets, including airwaves, to repay debt.
Infosys announced the successful conclusion of an advance pricing agreement with the US Internal Revenue Services (IRS). Under the APA, the company and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company's US operations.
The board of Power Grid Corporation of India has accorded investment approval for 'Transmission System for Ultra Mega Solar Power Park at Tumkur (Pavagada), Karnataka Phase II Part C' at an estimated cost of Rs92cr with commissioning a schedule of 20 months from the date of investment approval.
Electrosteel Steels received resolution plans from Tata Steel, Vedanta, Edelweiss ARC and Renaissance Steel.
Apollo Micro Systems IPO opens today. The company has fixed a price band of Rs 270-275 per share for its offering.
Institutional investors put in bids worth Rs 976 cr on Tuesday for buying government's part stake in NMDC.
Whirlpool to lift fridge output capacity with Rs 182 cr outlay.
Coal India hikes prices, power producers see rise in tariffs.
RInfra moves MERC for sale approval of Mumbai power business to Adani Transmission.
Motherson Sumi forms JV with Oasis, to invest $14 million.
IL&FS Technologies bags Rs 200 cr surveillance project contract.
ALPS Industries has sold the entire stake in its subsidiary, Snowflakes Meditate, for Rs 61 mn to Radix Investment and Leasing.
Apollo Tyres will invest around Rs1,800cr on a new plant in Andhra Pradesh, the company's seventh facili
ty globally, to cater to the rising demand for passenger vehicle tyres.....Read More Information :www.tradenivesh.com

Tuesday, 9 January 2018

Markets take a breather after 3 days of buying spree

Markets remained in a narrow range throughout the day and ended on a flat note. Coal India, Yes Bank and Wipro were among the top gainers in the trade while Eicher Motors, Bajaj Auto were among the laggards.

Mid-cap index snapped its 4-day winning streak as market breadth ended in favor of declines with Advance decline ratio closing at 2:3x.

Nifty Index futures and Bank Nifty Index added fresh open interest to the tune of ~17.8 lakh/ 89K shares respectively, indicating a build-up of fresh long positions.

Tracking the Nifty options, 10500PE has ~69 lakh shares in total open interest, consisting of mainly short position, indicating a formation of the fresh floor for the index in January F&O expiry.

Bank Nifty weekly expiry contracts also witnessed put writing as the index inched higher.

India Vix ended the day at 13.84 up 0.8%....



   
Nifty: +13  points @ 10637
Bank Nifty:  +28 points @ 25704
Top 2 F&O Gainer: Coal India and PC JEWELLER
Top 2 F&O Loser: JPASSO and RCOM
Most Active Index Option Contract:  
Call Option:  10700CE, O.I: + ~3.03  lakh shares
Put Option: 10600PE, O.I: + ~10.97 lakh shares
Nifty Max O.I Strikes: 11000CE, 10400PE
Bank Nifty Max O.I Strikes: 26000CE, 25000PE (11th Jan 2018 Expiry)
   






Tata Motors stock gains after rise in JLR Dec retail sales

Shares of Tata Motors rose over 1% after retail sales of subsidiary Jaguar Land Rover in December rose 0.6% on year to 55,697 units.
Land Rover sales were up 4.1% on year at 40,618 units in December, led by introduction of the Range Rover Velar and the ramp up of Discovery.
Jaguar sales fell 7.8% on year to 15,079 vehicles in December, as strong sales of the long-wheel base Jaguar XFL in China and the introduction of the E-PACE were more than offset by softer sales of XE and XJ.
The stock is currently trading at Rs438.6, up by Rs 4.9 or 1.13% from its previous closing of Rs 433.7 on the BSE. The scrip opened at Rs434.75 and has touched a high and low of Rs443.55 and Rs433.35, respectively.
TML, on the consolidated level, derives ~80% of its revenue from wholly owned subsidiary, JLR, which had witnessed EBITDA margin decline in FY16 and FY17 on account of weakness in volumes growth, model mix and forex losses. Standalone business (~80% CV and PV) has experienced market share losses and is expected to turnaround the trend on account of better acceptance of SCR technology (CV) and series of new launches in PV segment (Tigor/Hexa/Tiago).

 
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Sun Pharma raises stake in Ranbaxy Malaysia to 85.9%

Sun Pharma, through its filing on BSE, has informed that it has increased shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, through its wholly owned subsidiary to 85.9% from 79.55%.

Ranbaxy Malaysia Sdn Bhd is a subsidiary of the company, and the total shareholding of Sun Pharmaceutical Industries Ltd, along with its wholly owned subsidiary Sun Pharma (Netherlands) BV was 79.55%, prior to this purchase of shares. It is involved in the business of manufacturing and selling of pharmaceutical products in Malaysia and the Republic of Singapore.

Sun Pharma (Netherlands) BV, by way of further purchase of 508,313 shares of face value of MYR1.00 each of Ranbaxy Malaysia Sdn Bhd, has increased total stake to 85.9%. The total consideration for additional stake is ~MYR2.18mn.

The reported turnover of Ranbaxy Malaysia Sdn Bhd for FY15, FY16 and FY17 are MYR67.86mn, MYR77.82mn and MYR95.32mn respectively. The company has a dosage manufacturing unit in Malaysia, which serves requirement and demand arising from the regional markets.

Sun Pharma plans to achieve the US$ 300 Million synergy benefits in FY18 from the Ranbaxy integration. These synergies will be driven by a combination of revenue synergies, procurement synergies, manufacturing rationalisation, productivity improvements and other cost-management measures. As a part of the integration process, the Company has been taking steps to rationalise product portfolios and its global manufacturing presence.

The stock closed at a price of Rs592, up by 2.28%, on January 8, 2018.

 
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Monday, 8 January 2018

Sensex rises 200 points; Pharma, IT Index gain

Benchmark indices continued to trade close to record high levels on the back of sustained buying in pharma, banking & financials, IT and oil & gas stocks.
At 3:12 PM, the BSE Sensex was trading at 34,385, up 231 points, while the broader Nifty50 was ruling at 10,628, up 69 points.
Goa Carbon stock hit 5% upper circuit after it reported strong set of numbers in December quarter. The company revenue rose 160% at Rs187cr.
Venus Remedies rose 20% after the company announced that its share issue will open on Tuesday, through a qualified institutional placement.
The BSE Mid-cap and BSE Small-cap indices were up 1.06% and 1.02%, respectively.
Volatility index India VIX rose 4.34%.
Sun Pharma (+2.8%), Lupin (+2.7%), Coal India (+2.4%), Infosys (+2.3%) and Tech Mahindra (+2.2%) were the top gainers on Nifty50.
Bharti Airtel (-4%.1), ONGC (-0.48%), Power Grid (-0.37%), Asian Paints (-0.27%), and SBI (-0.24%) were the top losers in today’s trade.
Out of 2,021 stocks traded on the NSE, 1,087 advanced, 654 declined and 208 remained unchanged today.
A total of 199 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

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