CORPORATE NEWS 26-DEC-2018

Bank Nifty outperforms led by HDFC Bank

Equity markets have gained momentum in the last hour of trading and are hovering around the day's high. Bank Nifty climbed 243 points to trade at 26,958. However, the index rose 600 points from intraday lows to 27,008.Maximum gains were seen in HDFC Bank, PNB, Bank of Baroda, and Kotak Mahindra Bank, which rose between 2-1% each.

Bajaj Auto to enter e-vehicles space by 2020

Bajaj Auto is looking to enter the electric vehicle space by 2020 with two and three wheeler products, said Rajiv Bajaj, Managing Director of the company.Bajaj added that the company is aiming at 20-25% market share going forward from its current 15-20% share over the next 12 months.When asked if the next few months look difficult because of the global environment, he answered that the scenario in fact looked interesting and exciting on back of some interesting trends that are emerging.

Shanthi Gears approves share buyback at Rs140/share

Shares of Shanthi Gears slipped 2% on the BSE. The company said board of directors declared a one-time special (interim) dividend of Rs5/share for FY19.Further, it has approved the buyback of fully paid up equity shares of Rs1 each not exceeding 5cr shares at a price of Rs140/share.

Govt to assign 10 coal mines to Coal India in 2019: Media report

The Coal Ministry is mulling to assign 10 more coal mines to Coal India in 2019 to meet increasing demand, a PTI report said. Reacting to this, shares of Coal India were trading 0.5% higher.As per the report, the government has already allotted 85 mines to mining companies. Of the total, 23 mines have already started production and the government is expected to assign 20 more mines to start output in FY19 or early in the next fiscal year.

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CS OPENING BELL 21-DEC-2018

NIFTY SPOT DOWN 6 @10946
SENSEX SPOT DOWN 2 @36428
BANK NIFTY FUTURES UP 14 @27360 
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CS NIFTY FUTURES (DEC ) OVERVIEW

TREND BEARISH
RES2: 11280
RES 1:11100
SUP1:10870
SUP2:10700 

CS BANK NIFTY FUTURES (DEC ) OVERVIEW
TREND BULLISH 
RES 2: 27600
RES 1: 27450
SUP1: 27200
SUP2: 26800 

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CS OPENING BELL 20-DEC-2018

NIFTY SPOT DOWN 70 @10894
SENSEX SPOT DOWN 210 @36266
BANK NIFTY FUTURES DOWN 180 @27188 
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CS NIFTY FUTURES (DEC ) OVERVIEW

TREND BEARISH
RES2: 11280
RES 1:11100
SUP1:10830
SUP2:10650


CS BANK NIFTY FUTURES (DEC ) OVERVIEW

TREND BULLISH 
RES 2: 27600
RES 1: 27450
SUP1: 27200
SUP2: 26800 

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CORPORATE NEWS 19-DEC-2018

Tata Teleservices jumps ~11% after Mumbai NCLT sanctions Bharti Airtel deal

Tata Teleservices announced in a BSE filing on Wednesday afternoon that the NCLT has sanctioned the scheme of arrangement between Tata Teleservices Pvt Limited and Bharti Airtel Limited and their respective shareholders and creditors under section 230 to 232 and other applicable provisions of the Companies  Act, 2013.  Reacting to this announcement, shares of Tata Teleservices shot up 12% in intraday trade on Wednesday. Shares of Bharti Airtel also jumped ~1.5% in Wednesday afternoon trade.

Housing finance Cos gain as RBI decides to ease the liquidity crunch

Shares of housing finance companies were trading in the green as the Reserve Bank of India (RBI) decided to ease the liquidity crunch in the sector by injecting Rs50,000cr under Open Market Operations (OMOs) in January through five auctions. Accordingly, shares of Indiabulls Housing Finance, which surged 7%, was leading the gains on the index followed by Dewan Housing Finance Corporation (DHFL), up 5%. Shares of LIC Housing Finance, Can Fin Homes, and PNB Housing Finance also gained 3% each.

Zee Entertainment extends losses on brokerage downgrade
Zee Entertainment shares extended their loss by ~1% in early morning trade on Wednesday after plunging 10% on Tuesday. Shares of the entertainment company have nosedived in the last two days after an international brokerage firm downgraded the stock. BofAML had downgraded the stock to underperform with a price target of Rs375, as per media reports. The downgrade implies a 25% potential downside from its current price. The financial brokerage firm said the stock valuation is expensive, considering its slow growth in the current period.

Strides to receive $42mn immediately from General Claims Escrow

Strides Pharma Science announced that the company and its wholly owned subsidiary Strides Pharma Asia completed the sale of Agila Specialties and Agila Specialties Global, respectively, to Mylan Laboratories and Mylan Institutional Inc. pursuant to Sale and Purchase Agreements effective as of February 27, 2013 (gSPAsh) on December 4, 2013. Mylan made claims against the General Claims Escrow which included a third party claim that was subject to resolution under international arbitration. The claims in that arbitration were rejected in their entirety. Strides will receive ~$42mn towards the full and final release of the General Claims Escrow immediately.

Biocon stock advances after biosimilar Trastuzumab gets approval in the EU

Shares of Biocon are marginally up on the NSE in today's early morning session. Ogivri, a biosimilar Trastuzumab jointly developed by Biocon and Mylan, has been approved in the EU. The European Commission has granted Marketing Authorization for Ogivri to Mylan. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) had earlier issued a positive opinion recommending the approval of Ogivri as a biosimilar to Roche's Herceptin (Trastuzumab) on October 18, 2018, the company said in a BSE filing.

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CORPORATE NEWS 14-DEC-2018

ONGC gains 3% on share buyback proposal

Shares of Oil & Natural Gas Corpn (ONGC) gained 3% on Friday after the company in its filing to the exchanges informed that its board of directors would consider a buyback proposal in a meeting on December 20.

Further, for the prohibition of insider trading in dealing with the securities of the company, ONGC has closed the "trading window for the designated persons from December 17 to December 24 (both days inclusive)," the company said in a press note to the exchanges on Friday.

RCom rises 2% as SC directs DoT to issue NOC for spectrum sale

Shares of Reliance Communications climbed 2% in the afternoon session on Friday after a PTI report said that the Supreme Court directed the Department of Telecommunication (DoT) to issue an NOC to allow the company to sell spectrum to Reliance Jio within 2 days. The development comes after Reliance Realty furnished the corporate guarantee of Rs1, 400cr to the Telecom Department as directed by the Supreme Court, the report said. Earlier, the court had allowed spectrum sale from Reliance Communications to Jio and directed the company to furnish a corporate guarantee to DoT.

Dr. Lal PathLabs gets NCLT approval for Delta Ria acquisition

Dr. Lal PathLabs has received an approval from the Ahmedabad bench of the National Company Law Tribunal (NCLT) for a scheme of amalgamation between the company and Delta Ria & Pathology Private Limited.

"NCLT has sanctioned the scheme of amalgamation between Dr. Lal PathLabs Limited (the transferee company) and Delta Ria and Pathology Private Limited (the transferor company), a wholly owned subsidiary of the transferee company," the company said in a press note to the exchanges on Friday.

TVS Motor launches three new products in Peru market to further accelerate growth

TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers, announced the launch of its super premium offering TVS Apache RR 310, the 125cc connected scooter TVS NTORQ 125, and race machine TVS Apache RTR 160 4V for the Peru market. Chennai-based TVS Motor Co posted a 38.7% jump in its domestic scooter sales at 1, 05,576 units for the month of November 2018. The company's new launches will further strengthen its position in the Peru market.

Infosys announces joint venture with Hitachi, Panasonic, and Pasona in Japan

As per an exchange notification, Infosys has formed a joint venture (JV) with Hitachi, Ltd., Panasonic Corporation, and Pasona Inc. wherein it will acquire 81% of the shareholding in Hitachi Procurement Service Co., Ltd (HIPUS). Hitachi Procurement is Hitachiâ fully owned subsidiary and handles indirect materials purchasing functions for the Hitachi Group. Hitachi, Panasonic, and Pasona will be minority shareholders of the entity. Infosys added that it would bring its global expertise in procurement processes, consulting, analytics, and digital technologies, such as artificial intelligence (AI) and Robotic Process Automation (RPA), to the venture. Combined with Hitachi and Panasonicâ knowledge of their procurement functions and local teams and Pasonaâhuman capital and BPM networks in Japan, the entity will provide differentiated, end-to-end, efficient, and high-value procurement capabilities to corporations.

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MARKET WRAP UP 12-DEC-2018

Closing Bell: Bulls take charge on D-Street as Sensex ends 629 pts higher; Nifty above 10,700.

Bulls took charge right from the word go and consistently traded in the green. But intense buying in the last hour helped the market end on an even stronger note. The Nifty, not only managed to clock 10,700, but also closed above this mark.  Buying was visible across all sectors, with maximum gains seen among automobiles, metals, banks, infrastructure and consumption names. In the broader market, the Nifty Midcap index ended 3 percent higher.  At the close of market hours, the Sensex closed up 629.06 points or 1.79% at 35779.07, while the Nifty rose 188.40 points or 1.79% at 10737.60. The market breadth was positive as 1,882 shares advanced, against a decline of 645 shares, while 139 shares were unchanged. Hero MotoCorp, Bharti Airtel, and Indiabulls Housing gained the most, while Dr Reddy  Laboratories, and Bharti Infratel lost the most. 

HEADLINES OF THE DAY

Ramco wins order: Ramco Systems has secured deal from a leading adversary air (ADAIR) services provider to the US defence forces, to manage its fleet of fighter aircraft used for highly complex training fleet and defence contract requirements. Rating Agency CARE Ratings has reaffirmed CARE A1+ rating on Shree Cements' Commercial Papers of Rs 300 crore. Torrent Power has ought a nod from Gujarat regulator to hike tariffs so that it could offset under-recoveries. The company said that the tariff hike will help it recover Rs 275 crore. ACC Board Grants Nod to set up a greenfield integrated cement plan at Ametha. Zydus Wellness to acquire Heinz India: Shares of Zydus Wellness gained 2 percent on Wednesday after company received CCI approval for acquisition of businesses of Heinz.

The crucial resistance for Nifty spot is now seen at 10880 and above this 10960 Support for the immediate term is now placed at 10620 next support will be 10500.

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CORPORATE NEWS 05-DEC-2018

ONGC receives $32mn from Petroleos de Venezuela

ONGC has received a payment of $32mn from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments. ONGC said it now hopes that the Venezuelan state-oil firm will be regular in making further payments.

In 2016, PDVSA and ONGC Videsh had signed a deal where the latter would get the proceeds from the sale of 17,000 barrels per day of oil to settle outstanding dividend payments of $537mn. PDVSA paid about $90mn but failed to pay the rest.

Paper stocks gain as government imposes anti-dumping duty

Shares of Paper companies gained on Wednesday after the Government of India imposed anti-dumping duty (ADD) on uncoated copier paper imported from Indonesia, Thailand, and Singapore. The ADD is for a period of three years to protect the interest of domestic companies against low-cost shipments. Indian paper companies operating across the uncoated paper segment are JK Paper, The West Coast Paper Mills, Tamil Nadu Newsprint Papers, and Ballarpur Industries had filed an application before Directorate General of Trade Remedies (DGTR) for the initiation of the investigation.

Bharat Forge hits 52-week-low as Class 8 truck orders decline in Nov

Shares of Bharat Forge (BFL) hit a fresh 52-week low on the NSE at Rs525.55 on the NSE after Class 8 truck orders fell sharply in November. Total sales of North America trucks for November declined by 15% at 27,900 units compared to the same period last year and marks the lowest sales since September 2017, as per media reports. The orders compared to those in the previous month were down 36%. BFL has manufacturing facilities spread across India, Germany, Sweden, France, and North America. Within its India business, CVs contributed 46%, industrial segment 44%, and PVs 10% in Q2FY19. In the international business, CVs, Industrial segment, and PVs contributed 43%, 45% and 13% respectively.

USFDA completes inspection of Lupin's Mandideep location; Stock dips 2%

Pharma major Lupin announced the completion of USFDA inspections carried out at its Mandideep location. Lupin’s Mandideep location houses the company’s cardiovascular “Pril” API facilities, Cephalosporin API facilities and Cephalosporin Solid Oral Dosage Form facility, as per BSE filing. These inspections were carried out between November 26 and December 4, 2018. The inspection at Unit-2, the Cardiovascular “Pril” API facilities closed with 4 observations, the company added. The inspection at Unit-1, the Cephalosporin facilities closed with 10 observations for the Cephalosporin API facilities and 8 observations for the Cephalosporin Solid Oral Dosage Form facility.

FY19 GDP growth target maintained at 7.4%: RBI

Turning to growth projections, the Reserve Bank of India, after its Monetary Policy Meet (MPC) on Wednesday said, "Although Q2 growth was lower than that projected in the October policy, GDP growth in H1 has been broadly along the lines of the April policy when for the year as a whole GDP growth was projected at 7.4%." Going forward, lower rabi sowing may adversely affect agriculture and hence rural demand. Financial market volatility, slowing global demand, and rising trade tensions pose a negative risk to exports. On the positive side, the decline in crude oil prices is expected to boost India’s growth prospects by improving corporate earnings and raising private consumption through higher disposable incomes.

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CS OPENING BELL 05-DEC-2018

NIFTY SPOT DOWN 50 @10820

SENSEX SPOT DOWN 166 @35974

BANK NIFTY FUTURES DOWN 132 @26681

HAPPY TRADING!

WWW.CAPITALSTARS.COM+919977499927

CS NIFTY FUTURES (DEC ) OVERVIEW

TREND BEARISH

RES2: 11100

RES 1:10980

SUP1:10700

SUP2:10560 

CS BANK NIFTY FUTURES (DEC ) OVERVIEW

TREND BULLISH

RES 2: 27400

RES 1: 27100

SUP1: 26660

SUP2: 26100 

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