CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 1 AUG 2018

Nifty likely to hit record high.

Indian Indices: Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 22.5 points or 0.2 percent. Nifty futures were trading around 11,399.50- level on the Singaporean Exchange.

Global Market:

• Asian markets: Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.53% while the Hang Seng is down 0.15%. The Shanghai Composite is not trading.
• US Markets: Prepare for the biggest stock-market selloff in months, Morgan Stanley warns.
• European markets: European markets finished higher today with shares in London leading the region. The FTSE 100 is up 0.62% while France’s CAC 40 is up 0.37% and Germany’s DAX is up 0.06%.

Major Headlines of the day:

Results today :- Aditya Birla F,Apollo Tyres,Astec Life,Exide Ind,Gateway Distri,Gravita India,HEG,Indoco Remedies,Jindal Saw,Orient Cement,Orient Paper,Pidilite Ind,Reliance Infra,Tata Global Bev,Torrent Power.

• Asian shares rise on trade war relief as investors await data
• NBCC highest bidder for HSCC, Engineering Projects: sources
• Trend in FII flows:- The FIIs were Net Value of Rs 572.21 in the cash segment while the DIIs were Net Value of -290.87 per the provisional figures.

Securities in Ban For Trade Date 01-AUGUST-2018

NIL

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Nifty, Sensex end at record closing high; RIL, Tech Mahindra top gainers

Closing Bell: Nifty, Sensex end at record closing high; RIL, Tech Mahindra top gainers

The benchmark indices continue their uptrend on fourth day with Sensex and Nifty ending at record closing high, supported by IT, energy, metal and pharma stocks.

The Sensex closed up 112.18 points at 37606.58, while the Nifty ended up 37 points at 11356.50.

The market breadth was positive, about 1458 shares have advanced, 1163 shares declined, and 165 shares are unchanged.

Midcap and Smallcap index have performed inline with benchmark indices.

Reliance Industries, Hero Motocorp, HUL, Adani Ports, Tech Mahindra, Dr Reddys Labs are the top gainers on the indices.

HEADLINES OF THE DAY

Results to be announced tomorrow :- Aditya Birla F,Apollo Tyres,Astec Life,Exide Ind,Gateway Distri,Gravita India,HEG,Indoco Remedies,Jindal Saw,Orient Cement,Orient Paper,Pidilite Ind,Reliance Infra,Tata Global Bev,Torrent Power.

DCM Shriram Q1 profit down 6% at Rs 218 cr, income up marginally

Dabur Q1 net profit jumps 25% at Rs 329.2 crore; volume growth at 21%

GDP may moderate to 7.2% in 2nd half of 2018: Report

The crucial resistance for Nifty spot is now seen at 11400 and above this 11550 Support for the immediate term is now placed at 11180 next support will be 11090.

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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 30 JULY 2018

Nifty likely to open flat

Indian Indices:

Wall Street’s major indexes fell on Friday as weak earnings reports from major technology companies led to a big drop for the sector, said a Reuters report.

Global Market:

Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.69% while the Hang Seng is down 0.71%. The Shanghai Composite is not trading.
US Markets: Stock market ends lower after disappointing results from Twitter, bellwethers
European markets: European markets finished higher on Friday with shares in France leading the region. The CAC 40 is up 0.57% while London’s FTSE 100 is up 0.50% and Germany’s DAX is up 0.40%.
Major Headlines of the day:
Results today :- AXIS BANK,bajaj global , canfin home ,central bank ,century, chennai petro ,escorts ,godrej consumer ,hdfc ,idea , idfc bank,interglobe avia,kpr mill , monte carlo, rites, sun pharma adv, tech m.
Trend in FII flows:-  The FIIs were Net Value of Rs  738.05 in the cash segment while the DIIs were Net Value of   406.12 as per the provisional figures.

Securities in Ban For Trade Date 30-JULY-2018

NIL

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Midcap, smallcap to see relief rally; 3 stocks to bet on for short term

We have seen new highs on Nifty and Sensex as we have predicted last week. Large caps are seeing a gush of money from ETFs and DIIs flows are getting in some of the finest stocks in the universe.

We believe it’s time that midcaps and small caps will also see some relief rally. So far we have seen good results across the sectors which clearly show that our country is on a solid growth trajectory.

Small caps and midcaps are still down 24 percent and 15 percent from their highs, respectively, which will be narrowed down in the next week. There many important events this week which will drive the market. RBI and FOMC will start there two days credit policy meeting on July 31. This will be closely watched as dollar and index have increased a lot.

TCNS Clothing Co will list on July 30 and on same day Japan’s monetary policy meeting will also kick start. On August 1, RBI and FOMC will declare their respective decisions.

On the same date, auto companies will come out with their monthly sale numbers in July month. There are a bunch of companies who will announce their results like HDFC, Axis Bank, Tech Mahindra, Tata Motors, UPL, Vedanta, Power Grid, Indiabulls Housing Finance, ONGC, and Titan. Our last week picks ITC & M&M Financial had shown almost 12 percent gain in just one week.

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Sensex, Nifty and Bank Nifty end at record closing highs; metals, FMCG gain big

Closing Bell: Sensex, Nifty and Bank Nifty end at record closing highs; metals, FMCG gain big

Equity benchmarks have ended the day on an extremely strong note, with the Sensex rising over 350 points, while the Nifty was well above 11,250-mark.

The Sensex is up 352.21 points or 0.95% at 37336.85, and the Nifty up 111.10 points or 0.99% at 11278.40. The market breadth is positive as 1,638 shares advanced, against a decline of 956 shares, while 178 shares are unchanged.

All sectoral indices ended the day on a good note, with maximum gains among metals, FMCG and auto names. The Nifty Midcap index was higher by a percent.

ITC, Tata Motors, and IOC were the top gainers, while HUL, Adani Ports, Dr Reddy’s Laboratories and Bajaj Finserv were the top losers.

HEADLINES OF THE DAY

Results to be announced tomorrow :- Auto Corp Goa,Balmer Lawrie,BNK Capital,Damodar Ind,Godawari Power,Guj Amb Exports,High Energy,J. K. Cement,NTPC,Persistent,RamkrishnaForge,Unichem Labs.     

Westlife Development posted profit at Rs 11.6 crore for the quarter ended June 2018. The growth was driven by revenue as well as operational performance with double digit same-store-sales growth.

Non-banking finance company Equitas Holdings' first quarter profit grew by 127 percent year-on-year to Rs 35.4 crore, driven by fall in provisions. Profit in the year-ago period stood at Rs 15.6 crore.

Shares of IL&FS Transportation Networks gained 19 percent as company announced rights issue worth Rs 3,000 crore.

The crucial resistance for Nifty spot is now seen at 11400 and above this 11550 Support for the immediate term is now placed at 11180 next support will be 11090.

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TOP CORPORATE NEWS - 26 JULY 2018

Cement stocks rally after SC’s conditional nod to petcoke import

Cement stocks firmed up during Thursday’s afternoon trade after reports emerged that the SC has given its conditional approval to petcoke import. Incidentally, petcoke is used as an alternative to coal in cement manufacturing.

Ambuja Cement (+7%), Ramco Cement (+4%), Heidelberg (+3%), ACC (+3%), and Ultratech Cement (+2%) surged following this announcement.

Dr.Reddy's Labs launches Hervycta in India

Dr.Reddy's Labs today announced its decision to launch Hervycta (Trastuzumab), a biosimilar of Roche's Herceptin in India. This is mainly for the treatment of HER2-positive cancers (early breast cancer, metastatic breast cancer, and metastatic gastric cancer).

Dr.Reddy's Hervycta is available in strengths of 150mg and 440mg multiple dose vials. Commenting on the launch, MV Ramana, CEO- Branded Markets (India and emerging markets), Dr.Reddy's Labs, said, "We strive every day to do what matters most for patients. Hervycta is a step forward in our effort to accelerate access to cancer patients in India, in the oncology biosimilar space."

Yes Bank stock slips 4% to land among top Nifty losers

Shares of Yes Bank slipped 4% on the NSE to land among the top Nifty losers for the day despite the lender posting a 30.5% yoy rise in profit at Rs1, 260.36cr for the quarter ended June 2018. The bank had posted a net profit of Rs965.52cr in the corresponding quarter last year.

Yes Bank's NII has increased 22.67% yoy to Rs2219.14cr in Q1FY19 over Rs1, 808.93cr in Q1FY18.

Gross non-performing assets (GNPA) stood at 1.31% in Q1FY19 over 1.28% in Q4FY18, whereas net NPA (NNPA) eased to 0.59% from 0.64% during the same period.

Glenmark announces positive phase I results of biosimilar Xolair

Glenmark has announced Phase I results of biosimilar Xolair. The studies conducted by Glenmark have shown similarity in pharmacokinetic, pharmacodynamic, safety and immunogenicity profiles between Glenmark’s GBR 310 (proposed Xolair biosimilar) and the reference product omalizumab (brand name Xolair).

GBR 310 is a recombinant DNA-derived monoclonal antibody which is proposed to indicate in the treatment of allergic asthma and chronic idiopathic urticaria (CIU).

Liberty House to finally take over Amtek Auto

Troubled auto component maker, Amtek Auto Limited (AAL) will finally be taken over by UK-based Liberty House. The National Company Law Tribunal (NCLT) approved Liberty’s resolution plan. As per the plan, Liberty will pay Rs3, 225cr to financial creditors and will infuse another Rs500cr into AAL for stabilizing the latter’s operations. Lenders to AAL will have to take a 65% haircut. Against outstanding dues of Rs12, 603cr, they will have to settle for only Rs4, 404cr. According to a release by AAL to the stock exchanges, liquidation value of AAL has been determined at Rs4, 119cr.

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CAPITALSTARS- INDIAN EQUITY MARKET OUTLOOK – 26 JULY 2018

Nifty likely to open higher

Indian Indices:

Nifty Futures on the Singaporean exchanges were trading strong, with the index inching towards 11,200, pointing to a possible fresh record high

Global Market:

• Asian markets- Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.10% while the Hang Seng is down 0.57%. The Shanghai Composite is not trading.
• US Markets: Asia stocks subdued in morning trade after US-EU trade meeting
• European markets: European markets finished lower today with shares in Germany leading the region. The DAX is down 0.87% while London’s FTSE 100 is off 0.66% and France’s CAC 40 is lower by 0.14%.

Major Headlines of the day:

• Results today :- Agro Tech Foods,Ajmera Realty,Aptech,Bharat Fin,Bharti Airtel,Biocon,CESC,Cholamandalam,Colgate,Container Corp,Dr Reddys Labs,Eveready Ind,Force Motors,Heidelberg Cem,IFB Industries,ITC,Jindal (Hisar),Maruti Suzuki,NIIT,Petronet LNG,Quess Corp,Rolcon Engg, SBI Life Insura,Shriram Trans,Star Cement,Tata Coffee,Tata Power,Yes Bank.
• Maruti Suzuki Q1 preview: Expect strong double digit growth in net profit
• Mahindra Electric to play key role in SsangYong’s EV drive
• Trend in FII flows:- The FIIs were Net Value of Rs -1195.75 in the cash segment while the DIIs were Net Value of 97.64 as per the provisional figures.

Securities in Ban For Trade Date 26-JULY-2018

1.Adanient

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TOP CORPORATE NEWS - 25 JULY 2018

Sun Pharma launches generic Glumetza

Sun Pharma has launched the generic versions Metformin HCL - ER tablets, 500 mg and 1000 mg in the US market. These generic Metformin HCl extended release tablets are the therapeutic equivalents of Santarus Inc.’s Glumetza HCl ER tablets.

Sun Pharma had received approval for this drug in August 2016 when the addressable size of the market was $1.2bn.

Adani Enterprises up ~7% after bulk deal

Foreign investor Asia Investment Corporation on Tuesday sold 80lakh shares of Adani Enterprises for Rs138cr through an open-market transaction, as per the bulk deal data available with the NSE. Following this, the company’s stock rose ~7%.

Meanwhile, the enterprises’ coal mining volumes are expected to be about 80mn tonne, i.e. a nearly six-fold rise, by the end of the fiscal year 2021.

Maruti Suzuki to recall nearly 1,300 vehicles to inspect possible airbag controller unit fault

India’s largest passenger vehicle manufacturer, Maruti Suzuki India Limited (MSIL) will undertake a voluntary recall of 1,279 vehicles to inspect possible fault in Airbag Controller Unit. The recall will be limited to its new Swift (566 vehicles) and new Dzire (713 vehicles) manufactured between May 7, 2018 and July 5, 2018. As per the company, owners of the vehicles included in this recall campaign will be contacted by MSIL dealers for inspection and replacement of the faulty part free of cost. The recall campaign will begin today, July 25, 2018.

BEL to be in focus on the news of government divestment

The government is planning to divest 5% stake in BEL in order to reach closer to its divestment target. It currently holds 66.01% in the company. The divestment could fetch Rs1, 300cr to the government based on the current market capitalization. As per industry sources, the government is said to have floated request for proposal (RPF) for inviting bids from merchant bankers by August 14, 2018.

JSW Steel to merge Monnet Ispat one year from now

In a statement to the media, Sajjan Jindal stated that JSW Steel would turnaround and merge Monnet Ispat in one year’s time. The Aion-JSW consortium was the sole bidder with a bid of ~Rs2, 875cr, which represents a ~74% haircut to lenders. JSW Steel holds a 30% stake in the consortium.

Monnet Ispat is a steelmaker with 1.5mn tonnes per annum capacity with a 230MW captive power plant. This represents one of many inorganic expansions ongoing by JSW Steel. The company has recently concluded two major foreign acquisitions, namely Aferpi (Italy) and Acero Junction (US). JSW Steel is also in contention to acquire Essar Steel.

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Sensex, Nifty manage to end at record closing highs; metals, midcaps rally

Closing Bell: Sensex, Nifty manage to end at record closing highs; metals, midcaps rally

Continuing its bullish momentum from Monday, led by gains in midcaps, the market end the day on a strong note.

The Sensex and Nifty managed to close at a record high.

The Sensex closed up 106.50 points or 0.29% at 36825.10, while the Nifty was up 49.50 points or 0.45% at 11134.30.

The market breadth is positive as 1,940 shares advanced, against a decline of 675 shares, while 150 shares were unchanged.

Metals ended the day with gains of around 3 percent, followed by infrastructure, pharmaceuticals, and PSU banks.

The Nifty Midcap index managed to end over a percent higher.

HEADLINES OF THE DAY

Results to be announced tomorrow :- Acrysil India, Ambuja Cements, Bharti Infratel, BHEL, Canara Bank, CG Consumer, Everest Ind, HCL Info, Hero Motocorp, IRB Infra, JSW Steel, Jubilant Food, Jyothy Labs, KPIT Tech, Larsen, Oriental Bank, PVR, Tata Elxsi.

Inox Leisure touches 52-week low despite good June quarter numbers

Shares of UltraTech Cement rose over 5 percent on Tuesday as a rally in ACC’s shares spilled over to other cement stocks.

Bajaj Auto hits fresh 52-week low as analysts cut target price, Hero, TVS rebound

The crucial resistance for Nifty spot is now seen at 11185 and above this 11310 Support for the immediate term is now placed at 10910 next support will be 10800.

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TOP CORPORATE NEWS- 24 JULY 2018

Cement stocks rally as ACC surprises with strong quarter in turbulent times

Cement stocks have gained 5-13% since the market opening today. Led by ACC’s strong performance reported yesterday, all the stocks are seen to have a strong rally. ACC jumped 12.8% followed by India Cements (9.2%), Sagar Cement (8.7%) and Ambuja (7.9%).

ACC’s 2QCY18 results were significantly ahead of expectations on the back of higher realisations, led by increased sales in the eastern region and higher share of premium products. Company’s realistion was up by ~4% yoy; while volume growth at 7% was broadly in-line with estimates. Against the street expectation of significant decline in EBITDA by 22% on yoy basis, ACC reported mere 1.9% yoy decline. Beat in EBITDA was led by premiumisation and various cost control measures undertaken by the company (reduction in lead distance by 2%, higher home market sales, route optimisation & improvement in energy efficiency and higher usage of industrial waste). Resultantly PAT was up by 1% yoy (25% beat).

Alkem gets EIR at Daman, revise price target to Rs2,320

In line with expectations, Alkem has received establishment inspection report at its Daman facility. The plant had received 13 observations at this facility in March 2019 USFDA inspection with six repeat observations. Most observations were of routine in nature and there was no data integrity issue. The stock had corrected 16-17% post the USFDA observations. Post this event, we had cut the target price on Alkem.

Post the USFDA action, Alkem had sent the detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines.

Maruti Suzuki clocks 20 mn production

Maruti Suzuki India Ltd (MSIL) today announced that it has crossed production of 20 mn vehicles in India at its Gurugram and Manesar facilities. The distinctive feat, achieved first time by a car maker in the country, has been attained in 34 years and 6 months since start of production in December 1983.

Maruti Suzuki had achieved the 1 million production in March 1994, nearly after a decade after start of manufacturing cars. The 5 million milestone was achieved in April 2005, while 10 million was hit in March 2011. In the next seven years, the Company achieved 20 million production milestone.

Cyient to develop system for sustainable operation, management of water for Varanasi

Cyient, a global provider of engineering, manufacturing, geospatial, networks, and operations management services to global industry leaders, announced that it has been selected as a consultant by the Varanasi Nagar Nigam (VNN) to develop the Geographical Information System and Management Information System for the city of Varanasi.

The project is part of the Institutional Development Program, financed by the Japan International Cooperation Agency (JICA), under the Ganga Action Plan-II. The National Mission for Clean Ganga (NMCG) and the Ministry of Water Resources, River Development, and Ganga Rejuvenation are spearheading the project. Its is expected to be completed within 12 months.

Sterlite Tech’s subsidiary completes the acquisition of Metallurgica Bresciana

Fibre optic cable manufacturing company Sterlite Tech’s wholly-owned subsidiary Sterlite Technologies S.p.A. has completed the process of acquiring Metallurgica Bresciana, a European specialized optical cable manufacturer based in Italy. In a BSE filing, Sterlite Tech claimed that the acquisition was completed on July 20, 2018. This entire deal was completed in an all-cash deal for €47mn.

Metallurgica Bresciana, which has operations in Italy and China, designs and manufactures special precision optical fibre cables and specialized copper cables for various communication applications.

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Sensex ends at record closing high; Nifty above 11,050

Closing Bell: Sensex ends at record closing high; Nifty above 11,050

Last hour surge in midcaps, PSU banks, metals as well as FMCG ensured that the market ended the session on a bullish note.

The Sensex is up 222.23 points or 0.61% at 36718.60, while the Nifty is up 74.60 points or 0.68% at 11084.80.

The market breadth is positive as 1533 shares advanced, against a decline of 1061 shares, while 180 shares are unchanged.

All sectoral indices, barring energy and IT, ended the day in the green.

In the broader markets space, midcaps ended over a percent higher, a huge gain from the negative opening it had seen during the initial part of the session. Among stocks, ITC, Vedanta and UPL were the top gainers, while Hero MotoCorp and Bajaj Auto lost the most. 

  

HEADLINES OF THE DAY

Results to be announced tomorrow :- Asian Paints, BLS Infotech, CenturyPlyboard, Hexaware Tech ,ICICI Prudentia, INOX Leisure, Kalyani Steels, KRBL, Music Broadcast, Network 18,Punjab Chemical,Symphony,TV18 Broadcast, Unique Organics, Wendt.

Havells shares spike 10% after Q1 earnings performance; brokerages see 9-30% upside

Bank of Baroda starts 'aggressive action' to recover bad loans worth Rs 15,000 crore

Vijaya Bank Q1: Public sector lender Vijaya Bank's June quarter profit declined 43 percent year-on-year to Rs 144.3 crore, dented by higher provisions.

The crucial resistance for Nifty spot is now seen at 11185 and above this 11310 Support for the immediate term is now placed at 10910 next support will be 10800.

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CAPITALSTARS TOP CORPORATE NEWS - 23 JULY 2018

Footwear stocks gain after GST rate revision

Shares of footwear companies were trading higher in today’s trade with Relaxo Footwear and Bata India gaining over 5-7% each on the NSE.

Footwear stocks jumped after the GST Council lowered GST rates on footwear below Rs1,000 to 5% from 18% earlier (footwear having a retail sale price up to Rs500/pair is already covered under 5% rate). The changes in tax rate would come into effect from July 27, 2018, said a press release issued by the Ministry of Finance.

Asian Paints and Havells India surge after GST council cuts rate

Asian Paints and Havells India advanced ~3% and ~9%, respectively after the Goods and Services Tax (GST) council approved reduction in the rate on paints and electrical equipment.

The council has slashed rates on about 88 consumer durable items. Of these, GST on paints, refrigerators, washing machines, vacuum cleaners, water heaters, and small TVs was reduced from 28% to 18%.

UPL stock surges after $4.2bn deal to acquire Arysta Lifescience

Shares of UPL Limited rallied over 6.5% in the morning trade on the NSE. The company has entered into an agreement with Platform Specialty Products Corporation to fully acquire Arysta LifeScience and its subsidiaries for ~US$4.2bn.

The all-cash acquisition will be carried out through UPL’s wholly-owned subsidiary UPL Corporation Limited (UPL Corp).

Arysta is a global provider of crop protection solutions, including bio-solutions and seed treatment. The deal of $4.2bn is to be executed in cash consideration, subject to customary closing conditions and regulatory approvals.

Jubilant receives investigation report from Anti-Profiteering Authority; stock down 3%

Jubilant FoodWorks (JFL) has informed the exchange that the company has received a copy of the investigation report submitted by the Director General Anti Profiteering (DG) to the National Anti-Profiteering Authority (NAA) in respect of the investigation carried out by DG that the company has profiteered by not passing on the reduction in GST. The company believes that it has passed on the GST benefits to the customers and will be representing its case before NAA.

Cadila receives final approval for Acetylcysteine Injection

Cadila Healthcare has received final USFDA approval to market Acetylcysteine Injection 6g/30ml (200 mg/ml). Acetylcysteine Injection is sold by Cumberland Pharmaceuticals under the brand Acetadote Injection. Acetylcysteine is an antidote for acetaminophen overdose.

Akorn, Aurobindo, Fresenius Kabi, Mylan, and Sagent Pharmaceuticals also have final USFDA approval on this drug in the US market.

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