WEEKLY EQUITY MARKET REPORT - 26 OCT 2015 TO 31 OCT 2015

Weekly fundamental speaks

DALAL STREET face

INDIAN BENCHMARK was led up move by Indian heavy weights like RIL, HDFC, ITC and Infosys. The barometer index, the S&P BSE Sensex, and 50-unit CNX Nifty gained in two sessions and registered losses in two sessions during the week ended October 23, 2015.

The Sensex rose 256.21 points or 0.94% to settle at 27,470.81. The gains for the Sensex were higher in percentage terms than those for the Nifty. The Nifty rose 57.30 points or 0.70% to settle at 8,295.45.

GLOBAL MARKET chase

ASIAN STOCKS rally on Friday after the European Central Bank signaled its readiness to inject more stimulus, helping the dollar scale a fresh two-month peak against the euro.

U.S. STOCKS futures poised for positive opening at the Wall Street on Friday.

EUROPEAN STOCKS extended a rally on Friday, led by carmakers as investors speculated there could be more monetary support from the European Central Bank ( ECB).

Week ahead

Investors will closely track the next batch of Q2 results during coming week. Along with the Q2 September 2015 corporate earnings, the focus will also be on guidance from the company managements on outlook for the remaining part of the year and for the next year. Bharti Airtel and HDFC are scheduled to announce their Q2 September 2015 earnings on October 26, 2015

Shares of public sector oil marketing companies (PSU OMCs) will be in focus as a regular fuel price review is due at the end of the month.

On political front, assembly elections in the state of Bihar are being held in five phases. Voting for the first phase of the election was held on 12 October and for the second phase on 16 October.

On the global front, the US Federal Reserve's two-day meeting for deliberating on interest rate decision is scheduled on 27 and 28 October 2015. Bank of Japan's (BoJ) meeting on interest rate decision will be held on Friday, 30 October 2015..

Happy week ahead!!!


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CS PERFORMANCE MESSAGE: 30 OCT 2015

STOCK FUTURES:

FUTURES INTRADAY:

KOTAK BANK FUTURES   BUY  CALL 3 TGT

CASTROL INDIA  FUTURES BUY CALL 2 TGT

TATACOMM  FUTURES BUY CALL 2 TGT

CASTROL INDIA  FUTURES 2^ND BUY CALL 1 TGT

PREMIUM FUTURES:

LT  FUTURES   SELL  CALL 3 TGT

CASTROL INDIA  FUTURES   BUY  CALL SL HIT

NIFTY FUTURES:

NIFTY FUTURES SELL CALL ON HOLD

OPTION:

APOLLOTYRE  180  PUT  BUY CALL  3 TGT

KOTAK BANK 680 CALL BUY CALL 2 TGT

OPTION PREMIUM:

RELINFRA 400 CALL  BUY CALL 3 TGT  

STOCK CASH

STOCK CASH INTRADAY:

KOTAK BANK  BUY CALL  3 TGT (BOOKED AT 693.80)

DR REDDY  BUY CALL  3 TGT

ITC  BUY CALL  2 TGT

DIVISLAB  BUY CALL 1 TGT

YES BANK BUY CALL 1 TGT

JETAIRWAYS BUY CALL COST EXIT

STOCK CASH  PREMIUM:

ICICI BANK BUY CALL 1 TGT

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INDIAN EQUITY MARKET WRAP UP- 30 OCT 2015

INDIAN BENCHMARKS  record worst week in 2 months

                                                                   

INDIAN EQUITY BENCHMARKS  markets fell on Friday, posting a fifth consecutive fall in their worst weekly performance in two months, as disappointing results from ITC and Larsen & Toubro raised concerns about the health of the corporate sector. The S&P BSE Sensex and CNX Nifty ended 0.68% and 0.57% lower each.

                                                                                                                              

Headlines for the day:

Kotak Mahindra Q2 consolidated net profit at Rs942 cr (YoY)

Ajanta Pharma Q2 consolidated net profit at Rs100 cr (YoY)

ICICI Bank Q2 net profit meets estimates

L&T disappoints in Q2FY2016 with poor margin

                                                            

RESULT’S ON 2^ND  NOV:  ORIENTAL BANK, UNITED SPIRITES, INDIACEM   ,ADANIPORT , UBL .

                         

The crucial resistance for Nifty is now seen at 8150 and above this 8195. Support for the immediate term is now placed at 8055 and next support will be 8015.

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TOP CORPORATE NEWS - 30 OCT 2015

·Sun TV Board to consider proposal to buy-back shares

Sun TV Network: Company  has informed BSE that a meeting of the Board of Directors of the Company will be held on November 05, 2015, inter alia, to consider and if thought fit to approve a proposal to Buy-back the fully paid-up Equity Shares of the Company. Positive read-thru.

· HCC Q2 net profit at Rs38.44 crore

Hindustan Construction Company Ltd announced the following unaudited Standalone results for the quarter ended September 30, 2015. Net profit at Rs38.44 crore vs Rs6.76 crore (YoY)

Total Income at Rs979.79 crore vs Rs962.71 crore (YoY).

                                                                                                                                                                                                                                                        

·Ministry asks oil producers to switch to ad-valorem

The oil ministry has agreed to the demand of oil producers to switch from a fixed cess on oil production to ad-valorem. It is yet to be approved by the finance ministry. If approved it will help lower the duty oil producers. – Positive for ONGC & Cairn India.

                                                                                                                                                                                                                                                        

· HCL Tech acquires CRM Services Provider Power Objects

HCL Technologies announced today that it has acquired Minneapolis-based Power Objects - a leading North American provider of Microsoft Dynamics CRM. This will bolster HCL’s global  applications business, which offers transformational programs and complex application  management for a myriad of clients’ technology landscapes.

                                                                                                                                                                                                                                                      

· ITC sees yet another quarter of muted performance

ITC’s Q2FY2016 revenues stood flat at Rs8904.2crore. The revenues of core cigarette business grew by just 1% (expect volume decline to be in the range of 13-14%). The non-cigarette FMCG business grew by just 7%, while Agri business revenues declined by 10% during the quarter. The hotel business revenues grew by 11% during the quarter.The cigarette business PBIT margins were maintained at 68%, while the agri business margins PBIT margins improved by 200BPS to 16%.

                                                                                                                                                                              

·Cipla strengthens its focus on biotech

Cipla announces that it has entered into a definitive agreement to sell its entire 25% stake in Biomab Holding Limited, Hong Kong (“BHL”) to Biomab Brilliant Limited, British Virgin Islands which holds the remaining 75% stake in BHL, for a total consideration of ~ Rs 165-167 crore. Biomab Holding Limited is focused on developing Bio similars for the Chinese market. Going forward, the Company’s biological business will be consolidated under Cipla BioTec. It is long term positive news for the stock.

                                                                   

·ICICI Bank Q2 net profit meets estimates

ICICI Bank Q2FY16 results – Healthy earnings growth, marginal increase in NPAs, plans to sell 9% stake in ICICI Lombard .ICICI Bank reported steady set of numbers for Q2FY16 as net profits increased by 12% YoY, led by almost similar growth in the net interest income (up 12.8% YoY). Overall loan book grew by 13.3% YoY whereas margins remained stable (3.52% Vs 3.54% in Q1FY16)  which supported growth in NII.

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INDIAN EQUITY MARKET OUTLOOK - 30 OCT 2015

INDIAN BENCHMARKS  likely to open on a negative note in the early trade as global cues displayed unsupportive cues. SGX Nifty is trading 14 points  lower.                               

Headlines for the day:

Yes Bank Q2FY16 asset quality shows marginal blip
Supreme Industries Q1FY2016 revenue growth disappoints
Bharat Forge Q2FY16: Revenue and margin miss estimates

TODAY’S RESULTS : ITC, ICICI BANK, KOTAK BANK  L&T ,TITAN , IPCA LABS , APOLLOTYRE

Trend in FII flows: The FIIs were net  buyers of Rs  174.12 Cr in the cash segment on  Thursday while the DIIs were net sellers of Rs   -299.2 Cr, as per the provisional figures released by the NSE.

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CS PERFORMANCE MESSAGE: 29 OCT 2015

STOCK FUTURES:

FUTURES INTRADAY:

TATACOMM  FUTURES   BUY  CALL 3 TGT

VOLTAS  FUTURES BUY CALL 2 TGT

PREMIUM FUTURES:

TATACOMM  FUTURES   BUY  CALL ON HOLD

        

NIFTY FUTURES:

OPTION:

ULTRATECHCEM 2950 CALL BUY CALL 2 TGT

CANARA BANK 290 PUT  BUY CALL  O1 TGT

OPTION PREMIUM:

BANK NIFTY  17600  PUT  BUY CALL 3 TGT  AND BOOKED AT 17265 YESTERDAY HOLDED

STOCK CASH

STOCK CASH INTRADAY:

YES BANK  BUY CALL  2 TGT 

MOTHERSONSUMI  BUY CALL  2 TGT

KAJARIA BUY CALL  EXIT AT 912

ULTRATECHCEM  BUY CALL 1^ST TGT

STOCK CASH  PREMIUM:

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INDIAN EQUITY MARKET WRAP UP - 29 OCT 2015

INDIAN BENCHMARKS  mark lowest close in 2 weeks

                                                                   

INDIAN EQUITY BENCHMARKS fell for a fourth consecutive session on Thursday, recording their lowest close in little over two weeks, as the U.S. Federal Reserve revived market expectations that it may raise interest rates by the end of the year. The S&P BSE Sensex and CNX Nifty ended 0.75% and 0.73% lower each.

                                                                                                                    
Headlines for the day:

Yes Bank Q2FY16 asset quality shows marginal blip

Supreme Industries Q1FY2016 revenue growth disappoints

Bharat Forge Q2FY16: Revenue and margin miss estimates

                                                            

RESULT’S ON 30^TH OCT:  ITC, ICICI BANK, KOTAK BANK  L&T ,TITAN , IPCA LABS , APOLLOTYRE

                         

The crucial resistance for Nifty is now seen at 8165 and above this 8205. Support for the immediate term is now placed at 8125 and next support will be 8095.

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TOP CORPORATE NEWS - 29 OCT 2015

·Reliance Brands looks for alliances in beauty segment

Reliance Brands, a unit of Reliance Industries, is looking for alliances in the beauty and children’s wear segments with international brands as it tries to enter these segments. – Positive for RIL

·Coal India, GAIL, RCF and FCL enter into a JV

Coal India, GAIL, RCF and Fertilizer Corporation of India Limited ( FCL) have entered into a Joint Venture Agreement on October 27, 2015 for incorporation of a Company namely 'RASHTRIYA COAL GAS FERTILIZERS LIMITED', to establish and operate new coal gasification based Fertilizer Complex (Ammonia Urea Complex) at Talcher along with power plant and associated facilities at Talcher unit of FCIL and to market its products. 

                                                                                                                                                                                                                                                        

·Max Healthcare buys BK Modi’s Saket City Hospital

Max Healthcare, an equal joint venture between Max India and South Africa-based Life Healthcare, will acquire a 51% stake in Saket City Hospital from BK Modi Group company. The value of the transaction was not disclosed the media reports suggest enterprise value of Rs700 for Sake City hospital (SCH). The company plans to expand the number of beds from 290 to 900 in SCH. In May 2015, the company had acquired 76% stake in Delhi based Pushapanjali hospital (340 beds) for Rs290 crore.

                                                                                                                                                                                                                                                        

·Sun Pharma recalls over 10 lakh boxes of allergy drug in US

Sun Pharma is recalling over ten lakh boxes of its anti-allergic Loratadine drug from the US market as the lot was found to be 'super potent' and 'out of specification'. Loratadine is an antihistamine and is used to treat the symptoms of allergies, such as sneezing, watery eyes, and runny nose. Sentimentally negative.

                                                                                                                                                                                                                                                      

·Government mulls over raising foreign investment cap for PSU Banks

The Government is considering a proposal to increase the maximum amount that foreign investors can own in public sector banks (PSB) to 49% from the current 20%. A higher cap would help PSBs in raising equity to comply with Basel III regulatory standards. An increased in FII limits will be positive for PSU Banks for long term though in near term higher government holding and subdued performance has weakened investor sentiments towards PSU banks.

                                                                                                                                                                              

· Hero MotoCorp launches new scooter Duet in southern markets

Hero MotoCorp has launched its first metal bodied scooter Duet in the southern markets. The Duet has been priced at Rs48,000 for the LX version and Rs49,900 for the VX version (ex-showroom Bangalore).

The Duet has been built on a new chasis and engine platform. The vehicle has features such as external fuel filling, telescopic front suspension and charging point. The Duet will compete against the Honda Activa and the TVS Jupiter.

                                                                   

· Novartis drops on USFDA warning letter for two plants

Sandoz, the generic drug arm of Swiss drug major Novartis, has received a warning letter from the US health regulator for violations of current good manufacturing practice (cGMP) norms at its two plants; namely Kalwe and Turbhe. At Turbhe, Sandoz mainly produces active pharmaceutical ingredients. In Kalwe oral solid dosages or tablets are produced. Negative news for the company.

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INDIAN EQUITY MARKET OUTLOOK - 29 OCT 2015

INDIAN BENCHMARKS  likely to open on a negative note in the early trade as global cues displayed unsupportive cues. SGX Nifty is trading 11 points  lower.                                   Headlines for the day:

Dabur India Q2FY2016 sees improvement in margins.
Exide Industries Q2FY16 PAT beats estimates.
Syndicate Bank Q2 net profit at Rs332.37 crore.

TODAY’S RESULTS : DABUR, AMBUJACEM, JUST DIAL , AMARJA BATTERY , SUN TV , JSW ENERGY , EXIDE INDUSTRIES

Trend in FII flows: The FIIs were net  sellers of Rs   -731.17 Cr in the cash segment on  Wednesday while the DIIs were net buyers of Rs   160.17 Cr, as per the provisional figures released by the NSE.

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