CORPORATE NEWS By CapitalStars 13/August/2019

Yes Bank issues clarification regarding QIP

Shares of Yes Bank ended ~11% down in today's trade. The bank issued a clarification on the NSE today just before the closure of market hours. It stated, "It has been brought to the notice of Yes Bank management today that there are some rumors regarding the recently launched QIP on August 08, 2019. Through this intimation, we would like to confirm to the market participants, that the Board's Capital Raising Committee ("CRC") will consider and approve, amongst other things, the issue price for Equity Shares in respect of the QIP on August 14, 2019 (as was earlier communicated vide exchange release dated August 08, 2019). This intimation is intended to put to rest unnecessary speculation/ rumors being spread regarding the QIP."

Ipca Laboratories Q1 cons. net profit jumps 89%; stock down 3%

Ipca Laboratories Limited today announced its consolidated financial results for the first quarter ended June 30, 2019, of the financial year 2019-20. The company's Q1FY20 consolidated net profit was up 89% at Rs129.43cr vs. Rs68.55cr in the year-ago period. Total income also rose 23% at Rs1,098.53cr vs. Rs889.75cr.

Indiabulls Housing Finance jumps 11% post clarification

Shares of Indiabulls Housing Finance surged 11% after clarifying on the news item which appeared in the "economictimes.indiatimes.com" on August 09, 2019 captioned "Indiabulls founder to cede control after Lakshmi Vilas Bank merger". The company said that it has already applied for the approval of various regulators, including Reserve Bank of India, for the proposed merger of Indiabulls Housing Finance Limited along with its wholly-owned subsidiary company i.e. Indiabulls Commercial Credit Limited with The Lakshmi Vilas Bank Limited. 

Reliance Capital down 6% on reports of plans to sell stake in home finance biz, take legal action against PwC

Media reports suggested that Reliance Capital is in talks with at least four companies to sell its stake in housing finance subsidiary Reliance Home Finance, which is under debt of around Rs11,500cr. According to reports, Reliance Capital is in talks with Varde Partners, AION Capital, Cerberus Management and Altico Capital India. From these, two companies are at an advanced stage of discussions with Reliance Capital.

Reliance Industries extends gain after Aramco deal

Shares of Reliance Industries Ltd (RIL) extended rally for the third straight day today. The company Chairman and Managing Director, Mukesh Ambani said that Saudi Aramco has agreed to a non-binding Letter of Intent (LOI) regarding a proposed investment in the Oil to Chemicals (O2C) division comprising the Refining, Petrochemicals and fuels marketing businesses of RIL, the company said on Monday at 42nd AGM. The deal with Aramco, which values the business at $75bn including debt, also includes an agreement for Aramco to sell up to 500,000 barrels per day (bpd) to Reliance's Jamnagar refinery in Gujarat.

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Closing Bell By CapitalStars 13/August/2019

DAILY NIFTY SMART MOVERS 

SCRIPTS PRICE CHANGE (Rs.) PRE. CLOSE CHANGE (%) VOLUME

Indiabulls Housing

573.65 505.55 13.47 68.10 2068.34

Reliance Industries

1275.00 1162.00 9.72 113.00 2091.82

Sun Pharma Inds.

437.55 421.90 3.71 15.65 903.98

Page Industries

18003.40 17677.80 1.84 325.60 2.71

GAIL India

125.75 123.70 1.66 2.05 442.89

DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE CHANGE (Rs.) PRE. CLOSE CHANGE (%) VOLUME

BHEL

50.55 56.90 -11.16 -6.35 2668.79

Yes Bank

73.60 82.10 -10.35 -8.50 13321.31

Motherson Sumi Sys

97.25 106.80 -8.94 -9.55 1066.82

Divis Lab

1520.00 1665.50 -8.74 -145.50 233.87

Mah & Mah Finl. Serv

298.15 319.10 -6.57 -20.95 130.09

BEST CALL OF THE DAY (FINAL TG )

HNI OPTION 

BUY M&M PUT 530 FINAL TGT 

OPTION PREMIUM 

BUY RELIANCE CALL 1260 FINAL TGT 

NIFTY FUTURE 

SELL NIFTY FUT FINAL TGT 

OPTION STRATEGY 

BUY MUTHOOTFIN PUT 620 FINAL TGT 

INDEX OPTION 

BUY NIFTY PUT 11500 FINAL TGT 

BLUECHIP FUTURE 

BUY RELIANCE FUT FINAL TGT 

FUTURE INTRADAY 

SELL CADILAHC FUT FINAL TGT 

FUTURE PREMIUM 

SELL JUSTDIAL FUT FINAL TGT 

CASH INTRADAY 

BUY RELIANCE IN CASH ALMOST FINAL TGT

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Market Live By CapitalStars 13/August/2019

Nifty likely to open flat.

The Nifty50 is expected to open flat on Tuesday following Asian markets which were trading largely mixed as fears about a drawn-out Sino-US trade war, protests in Hong Kong and a crash in Argentina peso currency drove investors to safe harbours like bonds, gold, and the yen. The sentiment was already weak due to increasing signs that the United States and China will not quickly resolve their year-long trade war, said a Reuters report. Markets were hit with further turbulence after protesters managed to close down Hong Kong airport on Monday, it said. Trends on SGX Nifty indicate a positive opening for the broader index in India, with 0.32 percent gain or 35.5 points. Nifty futures were trading around 11,125-level on the Singaporean Exchange.

Global Market:

Asian Markets: Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.66% while the Hang Seng is down 1.38%. The Nikkei 225 is not trading.

US Markets: North and South American markets finished sharply lower today with shares in Brazil leading the region. The Bovespa is down 2.11% while Mexico's IPC is off 1.41% and U.S.'s S&P 500 is lower by 1.22%.

European Markets: European markets finished lower today with shares in London leading the region. The FTSE 100 is down 0.37% while France's CAC 40 is off 0.33% and Germany's DAX is lower by 0.12%.

Major Headlines of the day:

Rupee stands at 71.14 per dollar.

Saudi Aramco and Reliance Industries sign non-binding LoI to acquire a 20% stake in company oil & chemicals division Saudi Aramco potential 20% stake is based upon an Enterprise Value of US$ 75bn for the O2C division.

Syndicate Bank revises its MCLR rate; reduces it by 25bps The bank will continuously work towards offering a greater reduction in various products in the coming days based on external market benchmarks.

Earnings Reaction To Watch

BHARATFORGE

BLUESTAR

COALINDIA

GLENMARK

GNFC

GODREJIND

MANNAPURAM FIN

ONGC

RITES

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Opening Bell By CapitalStars 13/August/2019

CS NIFTY FUTURES (AUG) OVERVIEW

TREND BEARISH

RES 2: 11420

RES 1: 11250

SUP 1: 11000

SUP 2: 10900

CS BANK NIFTY FUTURES (AUG) OVERVIEW

TREND BEARISH 

RES 2: 28900

RES 1: 28750

SUP 1: 28200

SUP 2: 28000

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RIL rallied over 20% since last AGM: Investors eye GigaFiber, Jio Phone 3 launch

The stock rallied from Rs 964 recorded on 5th July 2018 when RIL held its 41st AGM, to Rs 1,162 registered on Friday, 9 August, which translates into a rally of over 20 percent.

India’s second-largest company by market capitalisation, Reliance Industries will hold its 42nd annual general meeting (AGM) on Monday, August 12 in Mumbai which would be eyed by both investors as well as analyst community.

The stock rallied from Rs 964 recorded on 5th July 2018 when RIL held its 41st AGM, to Rs 1,162 registered on Friday, 9 August, which translates into a rally of over 20 percent.

Investors could see the launch of Jio Phone 3, commercial rollout and pricing of Jio’s broadband service GigaFiber, and the triple play plan for GigaFiber that bundles broadband, landline as well as television services, are also expected to be announced at the RIL AGM, CNBC-TV18 said quoting market sources.

Jio Phone 2 was launched at the last AGM and carried a price tag of Rs 2,999. Its next iteration, Jio Phone 3, is expected to be priced at Rs 4,500, the report added.

AK Prabhakar, Head of Research at IDBI Capital expects the launch of triple play plan for GigaFiber which bundles broadband with DTH as well as a telephone in one package. Pricing is something which will be watched by the D-Street.

The pricing for the broadband plans is expected to be in line with peers but RIL will sweeten the deal by making it a triple play —a combination of broadband-landline-TV OTT service. A base price of ranging between Rs 500-600 for GigaFiber is expected, according to CNBC-TV18 report.

Apart from Jio broadband rollout as well as the launch of Jio Phone 3, some analysts will also keep a close eye on the deleveraging plan, expansion on the retail front, as well as any important development on the refining front.

"Focus will be more on its retail, telecom business expansion plan, and fund mobilisation. Also, towards its oil refining business front some important announcement is expected," Sanjeev Jain, VP Equity Research at Sunness Capital India Pvt Ltd, told Moneycontrol.

Last week, Credit Suisse said that the company is expected to remain free-cash-flow negative over FY20-21, just as it has been for the last six years. The report further added that liabilities have dramatically gone up to $65 billion in FY19 from $19 billion in FY15.

Reliance Industries, the country's largest company by market capitalisation, reported a consolidated profit after tax of Rs 10,104 crore for the June quarter, up 6.8 percent from a year ago. The net profit also beat a poll of analysts which had pegged the profits at Rs 9,852 crore.

“Investors would watch out for some news from RIL on how it can substantially deleverage its balance sheet through either induction of a partner in the refinery business because there were some talks of a deal with Saudi Aramco,” Ajay Bodke CEO- PMS Prabhudas Lilladher told Moneycontrol.

The analyst would watch out for a medium-term plan for monetizing their stake in the refinery, retail, fiber, and tower business because the company has become net debt company from a net cash company amid expansion plans.

The second thing that investors would watch out for would be the return ratios, said Bodke. He further explained that with increased contribution of consumer-focused business like retail and telecom – investors would expect the return ratio of the company to move northwards to just premium valuations compared to pure-play refining and Petro companies.

Across the globe, refining and pro companies’ trade at a low PE ratio because they are capital intensive, explained Bodke.

Source: https://www.moneyco ntrol.com/news/business/markets/ril-rallies-over-20-since-last-agm-investors-eye-gigafiber-jio-phone-3-launch-4320371.html

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CORPORATE NEWS 09/August/2019

MRF zooms ~5% as cons. PAT rises 3% yoy to Rs273.3cr in Q1FY20

Shares of tyre major MRF are trading ~5% higher after reporting Q1 results for the quarter ended June 2019.

The company's consolidated net profit rose 3% yoy to Rs273.3cr against Rs260.7cr.

Its revenue grew 16.5% yoy at Rs4, 471cr vs. Rs3, 836.3cr.

EBITDA rose 6.3% yoy at Rs612.3cr and EBDITA margin was at 13.7%.

Alembic Pharma gets USFDA tentative approval for Bimatoprost Ophthalmic Solution, 0.01%

Alembic Pharmaceuticals Limited announced that the Company has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Bimatoprost Ophthalmic Solution, 0.01%. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), LUMIGAN ophthalmic solution 0.01%, of Allergan Inc. Bimatoprost Ophthalmic Solution, 0.01% is indicated for the reduction of elevated intraocular pressure in patients with open angle glaucoma or ocular hypertension.

Bimatoprost Ophthalmic Solution, 0.01% has an estimated market size of $704mn for twelve months ending December 2018 according to IQVIA.

Mahanagar Gas reports ~33% yoy jump in PAT for Q1FY20

Shares of Mahanagar Gas are down ~3% after opening up 2% in early trade. The company posted its Q1FY20 results on Thursday.

Mahanagar Gas' net profit rose 32.66% yoy to Rs170.24cr in the quarter under review.

Revenue went up on 22.55% yoy at Rs777.83cr for the June quarter.

The board in its meeting also approved the appointment of Dr. Ashutosh Karnatak as an additional Director (Non-Executive & Non Independent) and Chairman of the Company effective from August 01, 2019.

Britannia Ind. adjusted PAT up 3% yoy to Rs267cr in Q1FY20

Britannia Industries Ltd. (BIL), India leading Food Company, reported its Q1FY20 results today. The company's consolidated revenue rose 6% yoy for the quarter to Rs2, 677cr.

Adjusted Net Profit increased by 3% yoy to Rs267cr (Reported Net profit at Rs251cr).On the cost front, the company witnessed moderate inflation in the prices of key raw materials for the bakery business. However, the inordinate rise in milk prices impacted profitability of the company's Dairy business adversely.

Cadila Healthcare's Q1FY20 PAT falls 34% yoy in Q1FY20 to Rs303cr

Zydus Cadila announced its Q1FY20 results today.For the first quarter ended June 30, 2019, the company's consolidated net profit was down 34% yoy at Rs303.6cr against Rs 460.5cr.

Its revenue was up 20.8% yoy at Rs3, 496.3cr against Rs2, 893.7cr.

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For more details call on 9977499927 or visit our website www.capitalstars.com

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Closing Bell By CapitalStars 09/August/2019

DAILY NIFTY SMART MOVERS 

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Indiabulls Housing

505.55 444.35 13.77 61.20 2382.95

Motherson Sumi Sys

106.80 98.35 8.59 8.45 912.56

Mah & Mah Finl. Serv

319.00 300.95 6.00 18.05 259.38

Eicher Motors

17600.05 16800.40 4.76 799.65 6.82

RBL Bank

384.20 367.35 4.59 16.85 915.92

DAILY NIFTY TOP LAGGARDS

SCRIPTS PRICE PRE. CLOSE CHANGE (%) CHANGE (Rs.) VOLUME

Yes Bank

82.10 89.15 -7.91 -7.05 14061.57

Page Industries

17625.00 18477.35 -4.61 -852.35 5.69

Cipla

485.20 503.30 -3.60 -18.10 1038.70

Hindalco

176.60 181.05 -2.46 -4.45 941.92

Tech Mahindra

664.50 680.65 -2.37 -16.15 99.48

BEST CALL OF THE DAY (FINAL TG )

NIFTY FUTURE 

BUY NIFTY FUT FINAL TGT 

HNI FUTURE 

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Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com

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