Market Live: Nifty likely to open higher. 31/jan/2019

The Nifty50 is likely to open with a gap on the higher side and reclaim 10700 levels in opening trade on Thursday tracking positive global cues. The index closed flat with a negative bias at 10,651 on Wednesday. Trends on SGX Nifty indicate a positive opening for the broader index in India, a risel of 64.5 points or 0.61 percent. Nifty futures were trading around 10,701-level on the Singaporean Exchange.

Global Market:

Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.96% while the Hang Seng is up 1.20%. The Nikkei 225 is not trading.

US Markets: North and South American markets finished mixed as of the most recent closing prices. The S&P 500 gained 1.55% and the Bovespa rose 1.42%. The IPC lost 0.16%.

European Markets: European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 1.58% and the CAC 40 rose 0.95%. The DAX lost 0.33%.

Major Headlines of the day:

Rupee opens lower at 70.88 per dollar.

Bharti Airtel Q3 earnings today; could post net loss on tepid revenue growth ICICI Securities said consolidated revenues are expected to be muted at Rs 20,543 crore, up 0.6 percent QoQ (up 1.1 percent YoY) and consolidated margins are seen at 30.6 percent, up 60 bps QoQ.

ICICI Bank Q3 profit down 3%; gross NPA additions lowest in 14 quarters Net NPA ratio decreased from 3.65 percent in Q2 to 2.58 percent in Q3, the lowest in the last 12 quarters.

Vijay Kedia raises stake in 2 stocks in Q3; know about his Chinese bamboo tree approach Vijay Kedia tweaked stake only in three companies, which reflects his stand of staying put and giving his investments time to grow and give multi-fold returns.

Earnings Reaction To Watch

BHARTI AIRTEL

DABUR INDIA

DENA BANK

ECLERX SERVICES

EMAMI

HEROMOTOCORP

INDIABULLHSG

JUBILANT IND

PETRONRT LNG

SUNDARAM FIN

UPL

VGUARD INDIA

Trend in FII flows:- The FIIs were Net Value of Rs 130.25 segment while the DIIs were Net Value of 502.26 the provisional figures.

Securities in Ban For Trade Date 30-JAN-2019

1. ADANIPOWER

2. ADANIENT

3. BANKINDIA

4. DHFL

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CORPORATE NEWS 07-JAN-2019

Lupin gets USFDA nod for gLatuda

Pharma major Lupin, on Monday, announced that it has received approval for its generic Lurasidone Hydrochloride (Latuda) tablets from the United States Food and Drug Administration (USFDA). The approval is to market the generic version of Sunovion Pharmaceuticals Inc's Latuda tablets (20 mg, 40 mg, 60 mg, 80 mg, and 120 mg). Latuda tablets (20 mg, 40 mg, 60 mg, 80 mg, and 120 mg) had sales of approximately $3.22bn in the US in the twelve months to September 2018, as per IQVIA MAT data.

BHEL gains 2% on commissioning the super-critical thermal plant in record time

Shares of Bharat Heavy Electricals (BHEL) were trading 2% higher on Monday after the company commissioned an 800MW super-critical thermal plant in the record time of 46 months. "The 800 MW set has been commissioned at Kothagudem Thermal Power Station (KTPS) of Telangana State Power Generation Corporation (TSGENCO)," the company said in a press note to the exchanges on Saturday. The company has executed this project on Engineering, Procurement and Construction (EPC) basis, it added.

Bandhan Bank slips 3% after reports of Gruh Finance acquisition

Shares of Bandhan Bank were trading 3% down on Monday after media reports said that the bank is set to acquire Gruh Finance via a share swap arrangement with an aim to trim holdings of its promoter.

As per media reports, shareholders of Gruh Finance will receive three shares of Bandhan Bank for every five shares held in the home financier. The proposed transaction would help Bandhan to cut its promoter holding in the lender from the existing 82.28% to 60.27%. However, as per the Reserve Bank of Indias banking license rules, promoters need to bring down their stake to 40%.

Bharat Forge under pressure after CLSA downgrades the stock to sell

Shares of Bharat Forge are trading at a 52-week low on the NSE at Rs470, the lowest since February 2017. As per media reports, global brokerage house CLSA has downgraded Bharat Forge to "sell" from outperform, with a cut in the target price to Rs420 from Rs680. This implies a downside of 38%.

The brokerage believes cyclical pressures are lined up ahead, and it has cut FY20-21 EPS estimates by 16-24%.

The stock is also under pressure on the back of lower Class 8 trucks sales in the US, which is a major business segment of Bharat Forge.

TCS up ~1.10% on clarification regarding Bridgepoint acquisition

Shares of TCS were in the green on Monday morning. Shares prices climbed ~1.5% as the Tech major clarified on the acquisition of select assets of Bridgepoint Group LLC.  This acquisition augments TCS' financial services and insurance domain knowledge, particularly in the area of US retirement services, mentioned the company in an exchange filing on Sunday. TCS has not acquired any shareholding/control in BridgePoint. It has purchased select company assets such as intellectual property and movable assets. The transaction consideration is in cash. The transaction has been completed on November 27, 2018.

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CS OPENING BELL 04-JAN-2018

NIFTY SPOT UP 34 @10706
SENSEX SPOT UP 134 @35648
BANK NIFTY FUTURES UP 64 @27144
HAPPY TRADING!

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CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BEARISH
RES2: 10980
RES 1:10860
SUP1:10550
SUP2:10300

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH 
RES 2: 27480
RES 1: 27200
SUP1: 26900
SUP2: 26780

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CORPORATE NEWS 03-JAN-2019

Vedanta slips on buzz SC to hear Tamil Nadu's appeal against NGT order

The stock had hit a high of Rs 195 in intraday. The stock had hit a low of Rs 187.65 during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 355.70 on 29 January 2018. According to reports, the Supreme Court on Thursday, 3 January 2019, agreed to hear on 8 January 2019 Tamil Nadu governments appeal against the National Green Tribunal (NGT) order to reopen Vedanta Sterlite copper plant at Tuticorin.

Sun Pharmaceuticals Industries Ltd gains for fifth session

Sun Pharmaceuticals Industries Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 440.45, up 0.09% on the day as on 12:44 IST on the NSE. Meanwhile, Nifty Pharma index of which Sun Pharmaceuticals Industries Ltd is a constituent has dropped around 3.24% in last one month and is currently quoting at 8839.95, down 0.78% on the day. The volume in the stock stood at 57.12 lakh shares today, compared to the daily average of 172.98 lakh shares in last one month.

Dena Bank leads losers in A group

Dena Bank lost 19.22% to Rs 14.5 at 14:48 IST. The stock was the biggest loser in the BSEs A group.On the BSE, 25.14 lakh shares were traded on the counter so far as against the average daily volumes of 2.3 lakh shares in the past month. Vijaya Bank crashed 6.66% to Rs 47.65. The stock was the second biggest loser in A group. On the BSE, 3.12 lakh shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past month.

Volumes jump at Dena Bank counter

Dena Bank saw the volume of 260.58 lakh shares by 14:14 IST on NSE, a 13.3 fold spurt over a two-week average daily volume of 19.59 lakh shares. The stock dropped 18.72% to Rs.14.55. Volumes stood at 30.6 lakh shares in the last session.ITD Cementation India Ltd saw the volume of 8.28 lakh shares by 14:14 IST on NSE, a 10.44 fold spurt over the two-week average daily volume of 79257 shares. The stock increased 0.98% to Rs.113.65. Volumes stood at 2.86 lakh shares in the last session. Hatsun Agro Product Ltd saw the volume of 66119 shares by 14:14 IST on NSE, a 9.65 fold spurt over a two-week average daily volume of 6854 shares. The stock increased 6.37% to Rs.671.60. Volumes stood at 13487 shares in the last session.

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CS OPENING BELL 3-JAN-2019

NIFTY SPOT DOWN 30 @10756
SENSEX SPOT DOWN 104 @35790
BANK NIFTY FUTURES DOWN 16 @27275
HAPPY TRADING!
WWW.CAPITALSTARS.COM+919977499927
CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BEARISH
RES2: 11070
RES 1:10980
SUP1:10720
SUP2:10600 

CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH 
RES 2: 27600
RES 1: 27480
SUP1: 27200
SUP2: 26900

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MARKET WRAP UP 1-JAN-2018

Closing Bell: Equities begin New Year on a strong note, Nifty reclaims 10,900; financials rally.

Its a strong start to the New Year for equities as bulls took complete charge in the last hour of trade. The Nifty reclaimed 10,900-mark setting it on track to move towards 11,000 as well. Meanwhile, the Sensex ended above 36,000-mark.  Barring auto and consumption sectors, all other sectors ended in the green. HDFC Group twins and ICICI Bank supported the rally.  At the close of market hours, the Sensex was up 186.24 points or 0.52% at 36,254.57, while the Nifty was higher by 47.60 points or 0.44% at 10910.10. The market breadth was narrow as 1,437 shares advanced, against a decline of 1,091 shares, while 147 shares were unchanged.
Bharti Airtel and HDFC were the top gainers, while M&M, Tata Steel, and Hindalco lost the most.

HEADLINES OF THE DAY


SML Isuzu December auto sales down 16 percent at 817 units versus 974 units, YoY.
M&M December auto sales: Total auto sales at 39,755 units against 39,200 units, while tractor sales were down 6 percent at 17,404 units versus 18,488 units, YoY
Satin Creditcare assigned 3 pools of receivables of Rs 755 crore to banks
Torrent Power is considering NCD issuance through private placement basis on February 5, 2018.
Centrum Capital shares gained 5 percent intraday Tuesday after the company completed acquisition of supply chain finance business from L&T Finance.
CMI secured 1 position for supply of Cadmium Catenary Wire to East Coast Indian Railways for a value of Rs 106.64 crore.

The crucial resistance for Nifty spot is now seen at 11110 and above this 11350 Support for the immediate term is now placed at 10800 next support will be 10650.

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CORPORATE NEWS 31-DEC-2018

RBI's deadline for Kotak promoter stake dilution today

Shares of Kotak Bank ended ~1% higher on Monday with the Reserve Bank of Indias (RBI) deadline to reduce promoter stake in the bank being today. As per the central bank's guidelines for new banks, Kotak Mahindra Bank was required to bring down promoter holding to 20% by December 31, 2018. Besides, the RBI requires the shareholding to fall to 15% by 2020 to reduce the promoters control over the bank, media reports said.

Marico slips on report Govt hikes MSP for Copra

Shares of Marico are trading lower by 1% on the BSE in the last hour of trading session amid media reports that the Cabinet has approved a hike in the minimum support price (MSP) for Copra by more than Rs2,000 per quintal for the 2019 season. The stock is among the top losers on the BSE FMCG index.

The cabinet increased the MSP for copra, which accounts for 40-50% of Marico's material costs, by Rs2,000 per quintal for 2019. The MSP of Copra has been increased from Rs7,511 per quintal to Rs9,521, reports added.

BHEL wins Rs3,500cr order for 660MW thermal power plant

Bharat Heavy Electricals Ltd (BHEL) has bagged a major order for setting up a 660MW supercritical thermal power plant in West Bengal valued at ~Rs3,500cr. The order for setting up the 1x660MW Sagardighi Thermal Power Project Extension Unit-5 at Manigram village in Murshidabad district of West Bengal has been placed on BHEL by West Bengal Power Development Corporation (WBPDCL).

Cadila Healthcare gains 1% as USFDA grants approval for Acne Gel

Shares of Cadila Healthcare were trading 1% higher on Monday as the company received approval from the USFDA to market Clindamycin Phosphate and Benzoyl Peroxide Gel.

The combination medication is used to treat a certain type of acne (inflammatory acne vulgaris), the company said in a press note to the exchanges on Saturday. Cadila will manufacture this gel at the groups topical manufacturing facility at Ahmedabad.

Reliance Industries acquires Kanoda energy systems

Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries, has entered into a binding agreement with Kanoda Energy Systems Private Limited ("KESL") for the acquisition of equity shares for a cash consideration not exceeding Rs75cr.

The said investment upon completion will translate into 88% equity stake in KESL on a fully diluted basis. The complete acquisition is likely to be completed by March 2020.

The investment will assist in the Reliance's initiatives to use renewable energy sources.

L&T Construction wins orders worth Rs2,084cr

The construction arm of L&T has won orders worth Rs2,084cr.

The Power Transmission and Distribution Business of L&T Construction has secured EPC orders worth Rs2,084cr, as per BSE filing. On the international front, the business has won a major order in the Kingdom of Saudi Arabia for the construction of 115kV Substations with associated transmission lines and cable circuits, the filing added.

Another order for 132kV cable works for a Substation has also been awarded in Dubai, UAE.

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MARKET WRAP UP.

Closing Bell: Sensex ends 2018 on a flat note, Nifty below 10,900; midcaps outperform.

Its a rather sombre end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.  At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50. The market breadth was narrow as 1495 shares advanced, against a decline of 1095 shares, while 164 shares were unchanged. Tata Steel, Vedanta, and JSW Steel were the top gainers, while Hero MotoCorp, Axis Bank, Bharti Airtel and Bharti Infratel lost the most.

HEADLINES OF THE DAY


Bharat Financial Inclusion gained 1 percent and CreditAccess Grameen rallied 3 percent intraday Monday after the completion of direct assignment transaction. State-run BHEL said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. DCB Bank advanced a percent after CRISIL upgraded its credit rating to AA-/Stable from A+/Stable for the Basel III Complaint Tier II bonds programme of Rs 150 crore by the bank. Cadila Healthcare shares gained 1.5 percent intraday after Zydus received approval from the US health regulator for anti-acne drug. Reliance Communications and Reliance Jio announced that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm.


The crucial resistance for Nifty spot is now seen at 10960 and above this 11120 Support for the immediate term is now placed at 10710 next support will be 10550.

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