Market Live By CapitalStars 22/July/2019

Nifty likely to open lower.

The Nifty50 is expected to open lower on Monday following Asian markets which were trading mixed as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve. Expectations for a 50 bp cut were scaled back further after the Wall Street Journal reported the Fed was likely to cut rates by 25 bps when it meets later this month, and may make further cuts in the future given global growth and trade uncertainties, said a Reuters report. The Dow Jones Industrial Average fell 68.77 points, or 0.25 percent, to 27,154.2, the S&P 500 lost 18.5 points, or 0.62 percent, to 2,976.61 and the Nasdaq Composite dropped 60.75 points, or 0.74 percent, to 8,146.49, it said. Trends on SGX Nifty indicate a flat-to-negative opening for the broader index in India, a fall of 29 points or 0.26 percent. Nifty futures were trading around 11,400-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 1.03% while the Hang Seng is down 0.81%. The Nikkei 225 is not trading.

US Markets: North and South American markets finished broadly lower on Friday with shares in Brazil leading the region. The Bovespa is down 1.21% while U.S.'s S&P 500 is off 0.62% and Mexico's IPC is lower by 0.03%.

European Markets: European markets finished higher on Friday with shares in Germany leading the region. The DAX is up 0.26% while London's FTSE 100 is up 0.21% and France's CAC 40 is up 0.03%.

Major Headlines of the day:

Rupee stands at 68.90 per dollar.

Domestic air passenger traffic up 6% in June: DCGA The uptick in June follows a marginal under 3% growth in May ferrying 112 mn passengers.

Cipla gets 7 observations for its API manufacturing facility in Virgonangar, Bengaluru The inspection ended with 7 observations, none of which were a repeat or related to data integrity, the company said on Saturday.

Kotak Mahindra Bank Q1FY20E Result Expectation Expect strong credit growth aided by corporate & small business segments and stable NIMs.

Earnings Reaction To Watch

CANFINHOME

ICICI SECURITIE

JUSTDAIL

KOTAK MAHINDRA

TVS MOTOR

MCDOWELL

Trend in FII flows:- The FIIs were Net Value of Rs -950.15 segment while the DIIs were Net Value of 733.92 the provisional figures.

Securities in Ban For Trade Date 22-JULY-2019

RELCAPITAL

IDBI

DHFL

RELINFRA

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Nifty records worst fall since October 2018; over 22 stocks fall 20-50% in June

The index finally closed 52.70 points lower at 11,788. The index closed below its 5-day EMA, 20-EMA, as well as 13-EMA which does not augur well for the bulls.

The Nifty50, which had hit a record high of 12,103 on June 3, failed to keep the momentum going and closed with losses of 1.12 percent in June. The index recorded its worst fall since October 2018 when it fell by nearly 5 percent.

The index moved in a range and retested its crucial 50-days exponential moving average (EMA) for seven consecutive days in a row before bouncing back towards 11,900 levels. However, selling pressure at higher levels pushed the index below 11,800.

The index finally closed 52.70 points lower at 11,788. The index closed below its 5-day EMA, 20-EMA, as well as 13-EMA which does not augur well for the bulls.

The S&P BSE Sensex might have lost a little over 300 points or 0.8 percent in June, but the real carnage was seen in the broader market space. The S&P BSE Midcap and the S&P BSE Smallcap index fell 4.2 percent and about 2 percent respectively for the month of June.

More than 70 percent of the stocks or 356 in the S&P BSE 500 index gave negative returns in the same period. As many as 21 stocks in the 356 stocks fell 20-50 percent which include names like Jet Airways, Jain Irrigations, Reliance Infra, Reliance Capital, PC Jeweller, Reliance Power, and Reliance Communications, etc. among others.

Most of the stocks mentioned in the list are value traps, and investors should not try to catch the falling knife, suggest experts.

“The mentioned stocks are certainly not value buys, but definitely Value Traps. Investors misunderstand the meaning of value to something which is available cheap,” Lovelesh Sharma, Head of Research – Epic Research, told Moneycontrol.

“This is not right since it is manifested through biases that an investor develops while looking at prices, when the price falls to an extent of say more than 50 percent. In an established bullish trend, a Value stock or Value buy would certainly be in tandem or likely to outperform its peers or the index,” he said.

Sharma further added that, even if there is any price drop or say correction in value buy, it should be an outcome of a slowdown in that sector. But, here the stocks that we are seeing are debt-ridden, have compliance and governance issues, and some of them are now going through NCLT.

Most of the stocks which fell double digits in the S&P BSE 500 index also hit their respective 52-week low. As many as 88 stocks in the S&P BSE 500 index hit their fresh 52-week low which includes names like YES Bank, Reliance Infra, SPARC, Indiabulls Housing Finance, IDFC, BOSCH, Biocon, Andhra Bank, Indiabulls Ventures, Wockhardt, etc. among others.

As many as 13 stocks fell 50-70 percent in June which include names like Eros International, Cox & Kings, Sintex Industries, High Ground Enterprise, Jet Airways, Omkar Speciality, and McLeod Russel India Ltd.

“The smallcap space has been in pressure for a while and, in recent months, it has been oscillating in a range. If we observe closely, the stocks which have fallen more than 20 percent are mostly those which are affected with huge debt or corporate governance issues,” said Sharma.

The market breadth has been a concern for the market especially at a time when benchmark indices hit fresh record highs. Nearly 300 stocks in the BSE500 stocks are trading below their long-term moving average (200-DMA) in June.

They include marquee names like ITC, Maruti Suzuki, Asian Paints, Hindustan Zinc, IndusInd Bank, Avenue Supermarts, Tech Mahindra and Dabur India, among others.

Experts feel that there is a possibility that we might have hit an intermediate top in June, and a breakout above the recent top of 12,103 on the Nifty and 40,312 on the Sensex recorded in June is still some time away.

“The current anatomy of the market structure is fractured; a high number of stocks are trading below 200 EMAs. Budgets are indeed important to set the right policy initiatives for the economy,” Umesh Mehta, Head of Research – SAMCO Securities, told Moneycontrol.

“However, the mood of the street is not positive and therefore policy initiatives, if any, will not be immediately reflected in the stock prices. Therefore, we believe the market might have achieved an immediate top and a breakout above the recent is not likely to happen in near term,” he said.

Source: https:// www.moneycontrol.com /news/business/stocks/nifty-records-worst-fall-since-october-2018-over-22-stocks-fall-20-50-in-june-4151321.html

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CORPORATE NEWS By CapitalStars 24/Apr/2019

UltraTech Cement gains 5% post Q4FY19 numbers

Shares of UltraTech Cement gained 5% on Wednesday after the company reported a strong set of numbers for Q4FY19, ahead of estimates, on operating fronts.

The company has reported consolidated revenue growth of 17.4% yoy to Rs10, 905.2cr, broadly in-line with estimates. Power and freight costs were down as a percent of net sales by 221bps and 85bps respectively. It was partially offset by higher raw material costs. Thus, EBITDA reported a growth of 31% yoy to Rs2,332.5cr; ~15% ahead of estimates. EBITDA margin expanded by 222bps yoy to 21.4% against an estimate of 19.2%. Profit before tax (PBT) was up 41.8% yoy. On account of exceptional items in the base quarter on account of the acquisition, the company reported a 127.4% yoy growth in PAT to Rs1,014.5cr, ~18% higher than the estimate.

Indiabulls Real Estate surges 10% on report of divestment of unit Century

Shares of Indiabulls Real Estate climbed 10% on Wednesday after a PTI report stated that the company has decided to divest Century, the parent company that houses Hanover Square property, London.

As per media reports, the company will sell the property to its promoters for GBP 200mn or Rs1,800cr. The report stated that the company has decided to focus only on Mumbai and NCR markets, and hence has decided to divest Century Limited, the parent company that houses Hanover Square property, London.

IndusInd Bank gains 2% on report of NCLT approval for merger with Bharat Financial

Shares of IndusInd Bank gained 2% on Wednesday after ET Now reported that the National Company Law Tribunal (NCLT) granted approval for IndusInd Bank and Bharat Financial Inclusion Ltd merger.

As per the report, the merger is expected to complete within 2-4 weeks. Post-merger, microfinance firm Bharat Financial will become a subsidiary of the private lender, the report added.

Lupin Indore facility classified as OAI by USFDA

Lupin, in its filing to the exchanges, informed that the USFDA classified the inspection conducted at its Pithompur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI).

"The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed," the company said in a press note after markets hours to the exchanges on Tuesday.

The company does not believe that this classification will have an impact on the disruption of supplies or the existing revenues from operations of this facility.

Tata Global Beverages' Q4FY19 consolidated PAT declined 54%

Tata Global Beverages, for the final quarter of FY19, registered a decline of 49.7% at Rs36cr. Reacting to this, shares of the company slumped 3% on Wednesday.

Consolidated EBITDA for the quarter grew 19.6% yoy. The India tea business witnessed volume growth of 12% however, India tea margin surprised on the downside, due to higher brand investment and ~Rs20cr one-off costs; but the international tea business offset this owing to low Kenyan tea prices and currency benefits. 

TGBL has entered into a non-binding term sheet for acquiring the branded business of Dhunseri Tea & Industries (subject to due diligence, signing of definitive binding agreements and necessary approvals), for a purchase consideration of Rs101cr.

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Closing Bell 30/jan/2019

Benchmark indices closed flat in volatile session on Wednesday with Nifty finished just above 10,650 level. 
At the close, the Sensex was down 1.25 points at 35591.25, while Nifty was down 0.40 points at 10651.80. About 1361 shares have advanced, 1109 shares declined, and 159 shares are unchanged. 
ICICI Bank, Tata Steel, Axis Bank, HCL Tech and SBI are the top gainers, while Bajaj Auto, Kotak Mahindra Bank, Yes Bank, HDFC and Reliance Industries are among major losers on the Sensex
Among the sectors energy, FMCG and pharma witnessed some selling pressure, while buying seen in bank, IT and metal stocks.

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MARKET WRAP UP 04-JAN-2019

Closing Bell: Sensex ends the week with a gain of 181 pts, Nifty above 10,700.

Buying counters were buzzing in the last couple of hours for the market, helping them not only recover from low points, but also end the week on a strong note.
Except IT names, investors bought across sectors, with maximum gains seen among metals, energy and banks, among others. The Nifty Midcap index ended higher too. 
At the close of market hours, the Sensex was up 181.39 points or 0.51% at 35695.10, and the Nifty up 55.10 points or 0.52% at 10727.40. The market breadth was narrow as 1322 shares have advanced, against a decline of 1255 shares, and 159 shares are unchanged.
Yes Bank, Vedanta, and Bharti Infratel gained the most, while Infosys, TCS, HCL Tech and Tech Mahindra were the top losers.


HEADLINES OF THE DAY
Aviation industry continues to face turbulence, fall in oil prices likely to offer respite
NHPC said Dulhasti Power Station (390 MW) in Jammu & Kashmir has been under complete shutdown w.e.f. 03.01.2019 to 12.01.2019 (tentative) for the work of 'replacement of By-Pass Line valves of MIV'.
Manappuram Finance has made interest payment due on January 1, 2019.
Chinese Central Bank cut bank's reserve requirement ratio by 100 bps.
European shares traded higher following news that the US and China will hold trade talks next week.

The crucial resistance for Nifty spot is now seen at 10860 and above this 10980 Support for the immediate term is now placed at 10620 next support will be 10480.

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MARKET WRAP UP 03-JAN-2019

Closing Bell: Sensex ends over 370 points lower, Nifty below 10,700; metals, auto decline.

Equities are closing the session with cuts of over a per cent on both indices. The Nifty ended below 10,700, while the Sensex ended nearly 400 points lower. 

Amid an all-around sell-off among sectors, financials, automobiles, and metals bled, while investors also dumped in the midcaps space. 

All of this added to the volatility on the market. 

At the close of market hours, the Sensex was down 377.81 points or 1.05% at 35513.71, and the Nifty lower by 120.20 points or 1.11% at 10672.30. The market breadth was negative as 962 shares advanced, against a decline of 1,588 shares, while 151 shares were unchanged.

Asian Paints, HUL, and Bharti Infratel were the top gainers, while ONGC, M&M, IOC and Eicher Motors lost the most.

HEADLINES OF THE DAY

Mahindra Lifespace Developers signs agreement with Maharashtra Govt: Deep Mangal Developers, wholly owned subsidiary has signed a non-binding State Support Agreement with the Government of Maharashtra for the development of a world-class tourist destination in Murud in district Raigad.

Rupee to be in 70-72 range against the dollar in 2019: ICICI Bank

The government has notified Rs 28,600 crore bank recapitalisation bond allocation.

Mahindra & Mahindra Financial Services plans to raise up to Rs 3,500 crore through public issue of non-convertible debentures (NCDs).

Alembic Pharma gets USFDA approval: The company has received USFDA (US Food & Drug Administration) approval Pramipexole Dihydrochloride extended-release tablets, 0.375 mg, 0.75 mg, 1.5 mg, 2.25 mg, 3 mg, 3.75 mg, and 4.5 mg. L&T Construction has won orders worth Rs 1,060 crore.

The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.

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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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CORPORATE NEWS 02-JAn-2018

Tamil Nadu govt moves SC for the closure of Vedanta Tuticorin unit: Media reports

Shares of Vedanta slipped 4% on Wednesday after media reports said that the Tamil Nadu (TN) government moved the Supreme Court against the order of National Green Tribunal (NGT) allowing the company to re-open Sterlite's Tuticorin unit. On December 15, NGT had trashed the state governments order for closure of the plant citing non-sustainable and unjustified as a reason. The plant was at the centre of massive protests over alleged pollution.

TVS Motor misses volume expectations due to a slowdown in motorcycle and scooter sales

TVS Motor Company Limited (TVSM) reported lower-than-expected volume numbers in December 2018, missing consensus expectation. Total volume was up 6% yoy (down 15% mom) in December 2018. This was the slowest monthly yoy growth rate since October 2017. The company sold 2,71,395 vehicles in December 2018, against 2,56,870 vehicles in December 2017 and 3,19,965 vehicles in November 2018. Total volume missed BloombergQuint poll estimate of 2,91,000 vehicles. Three wheelers (3W) volumes continued to gallop, growing 37% yoy (down 1% mom) in December 2018. However, all three sub-segments of two-wheelers (2W) witnessed a slowdown. Scooter volume was up 9% yoy (down 18% mom), while motorcycle volume was up 13% yoy (down 11% mom). These were multi-month low growth rates for these sub-segments. Moped sales declined 13% yoy (down 20% mom). TVSM fared better than Hero MotoCorp (HMCL), which saw 4% yoy (26% mom) decline in 2W December volumes. Bajaj Auto (BJAUT) was clearly an outlier, with 2W volumes up 31% yoy (down 14% mom).

Jet Airways defaults on debt payment to banks

Shares of Jet Airways were down 2% in late morning trade on Wednesday as the debt-ridden airline company delayed the payment to a consortium of Indian banks led by the State Bank of India (SBI). "The payment has been delayed due to temporary cash flows mismatch and the company has engaged with the banks in relation to the same," the airline company said in a press note aftermarket hours to the exchanges on Tuesday.

Power Grid arm announces transmission system project Vindhyachal-V

PowerGrid Jabalpur Transmission Limited, a 100% wholly owned subsidiary of Power Grid Corporation of India Limited, has successfully commissioned transmission system strengthening associated with Vindhyachal-V.

The company made the announcement on Tuesday evening, post market hours. The project includes establishment of Vindhyachal pooling station - Jabalpur pooling station 765kV double circuit transmission line on a build, own, operate and maintain (BOOM) basis.

LIC Housing Chairman V.K. Sharma resigns

LIC Housing Finance said that V.K. Sharma has resigned as Chairman of the company from December 31, 2018, after superannuation from the services of LIC. I shall be laying down office as Chairman of Life Insurance Corporation of India today. I, therefore, tender my resignation from the Board of Directors of the Company with immediate effect. I take this opportunity to thank you and Members of the Board for all the kindness and consideration shown to me during my tenure on the board, the company said in a regulatory filing.

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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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