Q2 FY17 GDP growth at 7.3% vs 7.6% YoY

Q2 FY17 GDP growth at 7.3% vs 7.6% YoY

•     GDP growth accelerated in the second quarter of this financial year to 7.3% on the back of a stronger performance in the agriculture sector
• 
  
•        GDP Growth for Q2FY17 stood at 7.3% versus 7.1% QoQ and against an expectation of 7.5%
• 
  
• ·    Agri Growth came in at 3.3% versus 1.8% QoQ
• 
  
• ·    Manufacturing sector grew by 7.1% versus 9.1% QoQ
• 
  
• ·    Mining sector contracted by 1.5% versus 0.4% decline QoQ

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Sensex pares gains, Nifty fails to hold 8150 amid late sell-off

Equity benchmarks started off Tuesday's trade on a strong note with the Sensex rising 237 points intraday but pared gains amid late profit booking. The selling pressure was seen in FMCG, technology and select banks while auto, oil and telecom stocks gained. Investors maintained cautious stance ahead of macro-economic data - GDP, fiscal deficit and core sector.

The market gained for the third consecutive session, though it closed off day's high. The 30-share BSE Sensex rose 43.84 points to 26394.01 and the 50-share NSE Nifty advanced 15.25 points to 8142.15 after hitting a two-week high of 8197.35.

The broader markets also halved gains with the BSE Midcap and Smallcap indices rising half a percent each on positive breadth.

Meanwhile, Fitch Ratings today lowered India's GDP growth forecast for this fiscal to 6.9 percent from 7.4 percent, saying there will be "temporary disruptions" to economic activity post demonetisation.

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3 reasons why the RBI hiked CRR

The Reserve Bank of India (RBI) hiked the cash reserve ratio over the weekend - the percentage of cash deposits that banks have to maintain with RBI – at 100% of the deposits (NDTL) accrued between September 16 and November 11 as incremental cash reserve ratio. An increase in CRR means that banks have to park more money with the central bank and, hence, a higher CRR sucks out liquidity from the banking system.

Here are three reasons why the RBI hiked the CRR, excerpted from a Citi India economic research report, jointly authored by Samiran Chakraborty, chief economist, Citi India and Anurag Jha, economist, Citi India.

FIRST: The surplus in the banking system at Rs 5 trillion (Rs 5-lakh crore) was inching closer to the maximum absorption capacity of the central bank. RBI had Rs 7.5 trillion (Rs 7.5-lakh crore) of g-secs prior to demonetisation drive, which act as collateral to absorb banking system surplus through the reverse repo window. RBI’s estimate of deposit accretion going forward might have prompted them to announce a large CRR hike which would obviate any discussion around RBI running short of g-secs. 

SECOND: The process of putting in place other liquidity absorption measures like issuance of Market Stabilization Scheme (MSS) bonds was taking time, as mentioned by the RBI Governor recently. Issuance limit of MSS bonds for this year was set at Rs 300 billion earlier, which was too small given the liquidity absorption requirement.

THIRD: The strong action could also be aimed at signaling RBI’s reluctance on market interest rates falling too sharply, too soon in the present global context. The surplus rupee liquidity and sharply falling rates was also creating distortions in the forward premia and indirectly impacting the spot  USDINR. This liquidity absorption measure could reverse some of these distortions.

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Wall St finishes at record highs; consumer staples, techs gain

Wall Street's three main indexes closed at record highs on Friday, helped by gains in consumer staples and technology stocks as investors hunted for bargains in a post-election rally.

The stock markets closed early for Black Friday, while trading volumes were thin.

The three major indexes closed higher for the third week in a row, extending their rally since the US election. The S&P 500 marked its seventh record close since November 8.

The Dow Jones Industrial Average rose 68.96 points, or 0.36 percent, to 19,152.14.

The S&P 500 gained 8.63 points, or 0.39 percent, to 2,213.35 and the Nasdaq Composite added 18.24 points, or 0.34 percent, to 5,398.92.

For the week, the Dow and the Nasdaq gained 1.5 percent and the S&P 500 gained 1.4 percent.
Ten of the 11 major S&P sectors closed higher Friday, led by a 1.43 percent rise in utilities .

The technology sector rose 0.37 percent, boosted by Cisco and Apple .

The energy sector closed down 0.39 percent, due to a 2.8 percent drop in oil prices amid uncertainty that the OPEC would arrive at a decision to cut production during a meeting next week.

Johnson & Johnson closed up about 1 percent after the company confirmed that it was in talks to acquire Swiss biotechnology company Actelion .

About 2.96 billion shares changed hands on US exchanges on Friday compared with the 7.88 billion average for the last 20 sessions.

Advancing issues outnumbered decliners on the NYSE by 1,840 to 999. On the Nasdaq, 1,728 issues rose and 965.

The S&P 500 index posted 46 new 52-week highs and no new lows, while the Nasdaq recorded 276 new highs and 12 new lows.

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Rupee, IT stocks, global cues: Why Sensex ended 456 points higher today

Snapping previous session’s losses, the benchmark indices on Friday staged a smart recovery led by gains in IT and pharma stocks after the rupee on Thursday hit its all-time low against dollar. Positive global cues as dollar retreated from 14-year high mark also added to the gains.
 
The S&P BSE Sensex settled the day at 26,316, up 456 points, while the broader Nifty closed at 8,114, up 149 points. In broader markets, BSE Midcap was up 1.3% while smallcap ended 2% higher.

Export-driven businesses like information technology (IT) and pharmaceutical rallied on the index today after rupee touched its record low on Thursday.  These stocks earn more revenues on rupee depreciation as every dollar earned through exports means more rupees added to their bottom line.
 
NSE IT was the top sectoral gainer and settled the day nearly 4.75% higher, with TCS, Infosys and Tech Mahindra gaining 5.9%, 4.77% and 5.83% respectively . 
 
“If the Nifty IT goes above 9,724, its previous week high, next target for the index will be 10,045, its second week high. Today, the index gave a breakout of its weekly high of 9,724 and if it sustains above it, then we might see a short term rally in the index,” said brokerage Dynamic Equities in a technical note.
 
Nifty Pharma index 3% higher with Sun Pharma (4.39%) gaining the most. Other gainers included Aurobindo Pharma (4.04%) and Lupin (3.16%).

Metal companies traded higher for the fourth straight-session with BSE Metals rising more than 2% during the day.  NALCO ended the day 7.74% higher followed by JSW Steel (3.62%), SAIL (2.86%) and JSPL (2.70%).

Snapping its five-session long losing streak, rupee recovered to as low as 68.36 in the late morning deals after the Reserve Bank of India intervened heavily in the morning trade to arrest the currency's fall. 

The rupee fell to a record low of 68.8650 on Thursday, pressured by a rallying US dollar, capital outflows from emerging markets, and worries about the country's demonetisation drive.

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CS ROCKING PERFORMANCE OF THE DAY - 24 NOV 2016

STOCK FUTURES:

FUTURES INTRADAY:

Lt  FUTURES  BUY CALL 1^ST  tg

ULTRACEMCO BUY CALL 2^ND TG  

PREMIUM FUTURES:

BUY HINDALCO DEC FUTURE BUY CALL 3^RD TG

NIFTY FUTURES:

OPTION

 BUY TCS 2200 CALL DEC 2^ND  TG

BUY LUPIN 1500 CALL DEC.1^ST   TG

OPTION PREMIUM:

BUY HINDALCO170 CALL NOV. FINAL TG

STOCK CASH

STOCK CASH INTRADAY:

BUY BERGEPAINT BUY CALL 2^ND  TG

BUY ASIANPAINT SL TRIGGERED

STOCK CASH  PREMIUM:

BUY RUSHIL BUY CALL 1^ST TG

BUY  HINDALCO CALL 2^ND TG & HOLD FOR TOMORROW  

STOCK SUPER PREMIUM

BUY HINDZINC IN CASH 1^ST TG

BUY NTPC IN CASH NEAR SL TRIGGERED

BUY NBCC IN CASH FINAL TG ( yesterday call)

EQUITY KING CALL

SELL AURO PHARMA DEC. FUTURES HOLD FOR TOMORROW  

BUY ULTRACEMCO DEC FUTURE HOLD FOR TOMORROW  

TATELXSI FUT TRADING NR 1090-1092 NR COST PLEASE CLOSE THE POSITION IN IT( yesterday call)

SELL SIEMENS LTD. NOV. FUTURES FINAL TG ( yesterday call)

OPTION STRATEGY

BUY LT 1360 CALL 2 LOTS DEC HOLD FOR TOMORROW  

BUY HINDALCO 170 NOV FINAL TG ( yesterday call)

HNI CASH CALL

BUY DCMSHRIRAM IN 1^ST TG ( BOOKED AT 218.00) $ HOLD FOR TOMORROW  

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CS ROCKING PERFORMANCE OF THE DAY - 23 NOV 2016

STOCK FUTURES:

FUTURES INTRADAY:

LUPIN  FUTURES  BUY CALL 3^RD  tg

APOLLO TYRE  FUTURES  SELL CALL EXIT NEAR 178.75

ULTRACEMCO BUY CALL 

PREMIUM FUTURES:

BUY CAIRN INDIA FUTURE BUY CALL 3^RD TG

NIFTY FUTURES:

NIFTY SELL CALL SL TRIGGERED

OPTION

OPTION PREMIUM:

BUY HINDALCO170 CALL NOV. 1^ST TG ( BOOKED AT 5.50)& HOLD FOR TOMORROW

STOCK CASH

STOCK CASH INTRADAY:

BUY BYKE BUY CALL 1^ST TG

BUY DCMSHRIRAM BUY CALL 3^RD TG

STOCK CASH  PREMIUM:

BUY VEDL BUY CALL 2 TG

STOCK SUPER PREMIUM

BUY NTPC IN CASH NEAR HOLD FOR TOMORROW

BUY NBCC IN CASH NEAR HOLD FOR TOMORROW

buy DALMIA SUGAR IN CASH final tg  ( yesterday call)

ICICI BANK IN CASH MADE HIGH 265.85 NR 1ST TGT 267  ( yesterday call)

EQUITY KING CALL

BUY TATAELXSI FUTURE DEC HOLD FOR TOMORROW

SELL SIEMENS LTD. NOV. FUTURES ( booked at 1051)

buy ULTRACEMCO FUTURE FINAL TGT 3450 ACHIEVED( yesterday call)

SELL BEML FUT final tg ( yesterday call)

OPTION STRATEGY

BUY HINDALCO 170 NOV HOLD FOR TOMORROW

HNI CASH CALL

BUY DCMSHRIRAM IN HOLD FOR TOMORROW

HNI FUTURE CALL

BUY LUPIN DEC FUTURE final tg

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CS PERFORMANCE MESSAGE:21 NOV 2016

STOCK FUTURES:

FUTURES INTRADAY:

CEAT LTD  FUTURES  SELL  CALL 1^ST  tg

TITAN FUTURES  SELL CALL 1^ST tg

PREMIUM FUTURES:

SELL SBIN FUTURE SELL CALL 3^RD TG

SELL PNB FUTURE SELL CALL 3^RD TG

NIFTY FUTURES:

OPTION

hdfc 1220 CALL BUY CALL 3^RD   TGT

OPTION PREMIUM:

BUY INDUSINDBK 1080 PUT CALL NOV 1^ST TG

BUY SBIN 260 PUT CALL 1^ST TG

STOCK CASH

STOCK CASH INTRADAY:

SELL INDUSINDBK SELL CALL 3^RD TG

SELL YESBANK SELL CALL 3^RD TG

STOCK CASH  PREMIUM:

SELL ESCORTS SELL CALL 3^RD TG

STOCK SUPER PREMIUM

BHARAT FORGE  BUY CALL  GIVEN ON 16 NOV sl trigerred ( yesterday call)

ENGINERSIN IN CASH 1ST TG 290 ACHIEVED HIGH 291.9 BOOK PARTIAL PROFIT

EQUITY KING CALL

SELL MRF FUTURE final tg

SELL CAIRN FUTURE finatl tg

SELL VOLTAS FUTURE sl trigerred ( yesterday call)

BOOK FULL PROFIT IN ITC FUTURE SELL CALL GIVEN ON 16 NOV FINAL TGT 226 ACHIEVED

OPTION STRATEGY

BUY HDFC 1220 CALL NOV 2 LOTS hold for tomorrow

ITC 240 PUT GIVEN 16 NOV TRADING NR 14.25 FINAL TGT IS 15 BOOK FULL PROFIT NR IT

BUY UNION BANK 150 CALL  sl trigerred ( yesterday call)

BUY INDUSIND BANK 1000 NOV. PUT hold for tomorrow

HNI CASH CALL

BUY LALPATHLAB  buy call1st tg ( BOOKED AT 1280) & HOLD FOR TOMORROW

HNI FUTURE CALL

HNI option CALL

BANK NIFTY 19000 NOV. PUT final tg ( yesterday call)

BUY NIFTY 7800 NOV. PUT HOLD FOR TOMORROW

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NHPC Q2 net jumps 28% to Rs 1,555 crore on other income

State-run hydro power generator NHPC on Friday posted a net profit of Rs 1,554.6 crore for the second quarter ended September, which is a 28 per cent rise over that recorded in the same quarter a year ago, mainly on the back of other income. 

NHPC had posted a net profit of Rs 1,215.7 crore for the quarter ended September 30, 2015.  

The company's total income in the quarter in question rose 21.36 per cent to Rs 3,281.22 crore, over the Rs 2,703.70 crore in the corresponding quarter of 2015. 

Revenue during the quarter grew by 2.5 per cent to Rs 2,403.4 crore from Rs 2,345 crore in same period of the last fiscal.  

EBITDA (earnings before interest, tax, depreciation and amortisation) increased 0.5 per cent to Rs 1,559.5 crore. 

Margin during the quarter in consideration, however, dipped by 130 basis points to 64.9 per cent. - 

NHPC said in a statement here that in view of the seasonal nature of business, the financial results of the quarter ended September may not be comparable with the same quarter of 2015.  

Other income jumped to Rs 888 crore in July-September quarter, compared with Rs 359 crore in same period a year-ago, while tax expenses increased 66.7 per cent compared to last year to Rs 369.6 crore. 

NHPC board of directors on Friday approved the proposal for raising of Rs 2,250 crore through issue of V series corporate bonds on private placement basis, the statement said.

This is a part of the Rs 4,500 crore already approved by shareholders in the annual general meeting (AGM) held in September.

With results being announced during market hours, NHPC stock closed on Friday at Rs 26.30 a share, up 1.20 points, or 4.78 per cent, over its previous close on the Bombay Stock Exchange. 

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