Tuesday, 13 August 2019
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
04:05
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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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Monday, 12 August 2019
Market Live By CapitalStars 13/August/2019
21:18
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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
21:03
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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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Sunday, 11 August 2019
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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Friday, 9 August 2019
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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Closing Bell By CapitalStars 09/August/2019
03:34
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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
BUY MARUTI FUT FINAL TGT
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Thursday, 8 August 2019
Opening Bell By CapitalStars 09/August/2019
CS NIFTY FUTURES (AUG) OVERVIEW
TREND BEARISH
RES 2: 11400
RES 1: 11250
SUP 1: 10950
SUP 2: 10800
CS BANK NIFTY FUTURES (AUG) OVERVIEW
TREND BEARISH
RES 2: 28820
RES 1: 28600
SUP 1: 28000
SUP 2: 27800
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Market Live By CapitalStars 09/August/2019
Nifty likely to open flat-to-higher
The Nifty50 is expected to open flat-to-higher on Friday following positive trend seen in other Asian markets, but fresh concerns about Sino-US trade ties are likely to limit gains in the region. Weighing on risk appetite was a report from Bloomberg that Washington is delaying a decision about licenses for U.S. firms to restart trade with Huawei Technologies, said a Reuters report. On Wall Street, the S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with the Dow and the Nasdaq also climbed more than 1 percent, added the report. Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, with 0.09 percent gain or 10 points. Nifty futures were trading around 11,081-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 0.74% while the Hang Seng is down 0.40%. The Shanghai Composite is not trading.
US Markets: North and South American markets finished broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.91% while U.S.'s S&P 500 is up 1.88% and Mexico's IPC is up 0.02%.
European Markets: European markets closed sharply higher today with shares in France leading the region. The CAC 40 is up 2.31% while Germany's DAX is up 1.68% and London's FTSE 100 is up 1.21%.
Major Headlines of the day:
Rupee stands at 70.55 per dollar.
Britannia Industries Q1FY20E Result Expectation Company is expected to report 10.5% yoy growth in revenue led by 6.5% yoy volume growth; commentary on new launches to look for.
Stellar debut: Affle (India) lists at 25% premium The stock opened at Rs926, around 25% higher against the issue price on the National Stock Exchange (NSE) and touched a high and a low of Rs958.7 and Rs750 respectively.
India's domestic air passenger traffic rose 7.9% yoy in June 2019: IATA All regions recorded an increase in growth, led by airlines in Africa with capacity increasing 3.4% and load factor increasing by 1.6% to 83.8% in June 2019.
Aurobindo Pharma posts 39.5% rise in cons. net profit at Rs635.8cr Revenue from operations rose 28.1% yoy to Rs5,444.6cr during the quarter under review from Rs4,250cr in the corresponding quarter of the previous year.
Earnings Reaction To Watch
BHEL
BPCL
BRITANNIA
CADILAHC
GAIL
HINDALCO
MRF
NATCO PHARMA
NCC
OIL INDIA
PC JEWELLER
SHREE CEMENTS
SOBHA
SPICEJET
SUNTV
Trend in FII flows:- The FIIs were Net Value of Rs -437.39 segment while the DIIs were Net Value of 291.29 the provisional figures.
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CORPORATE NEWS By CapitalStars 08/August/2019
04:08
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Thermax stock gains ~3% after net profit up 29% in Q1
For the first quarter of FY19-20, at the consolidated level, Thermax's profit after tax for the quarter was higher by 29% at Rs63cr vs. Rs49cr in Q1FY19. Revenue was up 34% at Rs1, 392cr as compared to Rs1, 035cr in the corresponding quarter last year.
As on June 30, 2019, Thermax Group's order balance was down 18% at Rs5, 250cr vs. Rs6, 420cr in FY19. Order booking for the quarter was 26% lower at Rs1, 217cr on account of slowdown in investment sentiment witnessed in both domestic and international markets.
Cipla down 3% after muted Q1 nos, brokerage downgrades
Shares of Cipla fell 3% intraday and is currently trading 4% down after the pharma major reported weak numbers for the June quarter yesterday.
The pharma company's revenue declined in India and South Africa, which account for ~50% of its sales.Further, media reports stated that international brokerage firm CLSA downgraded Cipla to "sell" from "outperform" and cut the target price on the stock to Rs460 from Rs600.
CLSA also cut EPS (earning per share) estimates over FY20-22 by 9-14% owing to the absence of a near-term catalyst.
Maruti Suzuki cuts production by 25% yoy for 6th month in a row in July
Maruti Suzuki India cut its production in July by by 25.15% yoy, making it the sixth month in a row that the country's largest car maker reduced its output.
The company produced a total of 1, 33,625 units in July, compared with 1, 78,533 units in the year-ago month, according to the co's filing on the BSE.
Passenger vehicles' production last month stood at 1, 30,541 units as against 1,75,456 units in July 2018, a decline of 25.6% yoy.
Siemens stock soars 4.5% after Q3FY19 profit up by 21.4%
For the third quarter of Financial Year 2019 ended June 30, 2019, Siemens Ltd. registered profit after tax at Rs248cr, with an increase of 21.4 % over the same quarter last year. Revenue stood at Rs3, 110cr, a 4.9% increase over the same quarter in the preceding year.The company new orders stood at Rs3, 023, registering a 6.4% increase over the same quarter last year.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said, We have delivered very solid results in the third quarter although we see a slowdown in capex related ordering by our customers, both public and private, and across our market verticals. Liquidity is becoming a concern in the industry, with payments being delayed and inventory offtake slowing down. In this scenario, our focus continues driving our short term and digitalization businesses with a clear focus on profitable growth and working capital management.
Tata Steel divests 70% in Thailand arm to Synergy Metals & Mining Fund
Tata Steel's board on Wednesday approved of signing of a memorandum of understanding (MoU) with Dubai-based Synergy Metals and Mining Fund to divest 70% of its stake in Tata Steel Thailand.
Synergy Metals and Mining Fund is a private equity fund focussed on investments in the metals, mining, and natural resources sectors.The approval comes a day after Tata Steel announced that it will no longer be selling its South East Asian units including NatSteel and Tata Steel Thailand to China's Hesteel with which it had signed definitive agreements in January for the same.
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