Market Live : Nifty likely to open flat.

The Nifty50 is expected to open flat-to-higher on Tuesday despite muted trend seen in other Asian markets. Overnight, US markets slipped as White Houses restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd weighed on the technology sector. Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 23 points or 0.20 percent. Nifty futures were trading around 11,888-level on the Singaporean Exchange. The rupee Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government. As many as 96 companies will declare their results for the March quarter which include names like Bharat Financial, BOSCH, CARE Ratings, DLF, Tech Mahindra, Timken India, Vaibhav Global, KEI Industries, JSPL, and Aarti Industries among others.

Global Market:

Asian Markets: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 1.58% while the Hang Seng is up 0.37%. The Nikkei 225 is not trading.

US Markets: North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 2.17% and the IPC rose 0.17%. The S&P 500 lost 0.67%.

European Markets: European markets finished broadly lower today with shares in Germany leading the region. The DAX is down 1.61% while France's CAC 40 is off 1.46% and London's FTSE 100 is lower by 0.51%.

Major Headlines of the day:

Rupee opens at 69.74 per dollar.

Adani Green's promoters to sell up to 5.6% stake via OFS The promoters will sell up to 8.75cr shares at a floor price of Rs43 apiece.

Tata Motors stock jumps 8% ahead of Q4FY19 numbers The auto company will announce its Q4FY19 numbers today.

A2Z Infra Engineering locked at 10% upper circuit on OTS Company has already made Settlement arrangements with SICOM, Standard Chartered Bank and Edelweiss Asset Reconstruction Company (loan assigned by ICICI Bank Ltd.) for their outstanding loans.

Earnings Reaction To Watch

AARTI IND

BHARAT FIN

DLF

JINDAL STEEL

TECHM

The trend in FII flows:- The FIIs were Net Value of Rs 1734.45 segment while the DIIs were Net Value of -542.71 the provisional figures.

Securities in Ban For Trade Date 21-MAY-2019

JETAIRWAYS

RELCAPITAL

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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 3-JAN-2019

NIFTY SPOT DOWN 30 @10756
SENSEX SPOT DOWN 104 @35790
BANK NIFTY FUTURES DOWN 16 @27275
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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 28-DEC-2018

Government to infuse Rs28,615cr in 7 PSU Banks

The government is likely to inject Rs28,615cr fund in seven public sector undertaking (PSU) banks, as per media reports. As per the report, the seven banks are Central Bank of India, United Bank of India, UCO Bank, Bank of India, Bank of Maharashtra, Oriental Bank of Commerce (OBC), and Syndicate Bank.

Accordingly, the government is likely to infuse Rs10, 086cr in Bank of India and Rs1,678cr in Central Bank of India. Similarly, United Bank of India will get a capital infusion of Rs2, 159cr, while OBC will get Rs5,500cr, the report added.

Domestic pharma cos expected to grow at a CAGR of around 8-10% between FY18-2021

ICRA has given a stable outlook on the Indian pharmaceutical industry. The headwinds from pricing pressure in large regulated markets, especially the USA, increased cost related to regulatory compliances but are largely offset by growing scale of business, increased focus on speciality/ niche segments and comfortable balance sheet structure. The domestic pharmaceutical industry has gained adequate scale and generic drug development capabilities over a decade of growth which will keep them in good stead to capture bigger opportunities in the regulated market. The FY18-21 CAGR is expected to be around 8-10% for domestic Pharmaceutical companies.

Lemon Tree Hotels surges 8% on announcing JV with Warburg Pincus

Shares of Lemon Tree Hotels surged 8% in morning trade on Friday as the company announced forming a joint venture with an affiliate of Warburg Pincus to create a co-living platform.  An affiliate of Warburg Pincus, Magnolia Grove Investment Limited, and Lemon Tree Hotels Limited will hold 68% and 30% stake, respectively in the JV (Hamstede Living Private Limited). The balance 2% will be held by Mr Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels.

Kansai Nerolac acquires Perma Construction for Rs29cr

Kansai Nerolac Paints (KNPL) has entered into Share Purchase Agreement (SPA) to acquire 100% equity stake in Perma Construction Aids Pvt. Ltd (PCAPL) for a total consideration of Rs29.1cr. PCAPL is one of the established construction chemicals companies in India having a diverse product range encompassing water-proofing, adhesives, epoxy, admixtures, etc. It has reported turnover of Rs27.3cr, 25.4cr and Rs23.8cr for FY18, FY17 and FY16 respectively. KNPL is expanding its product portfolio in construction chemicals and the acquisition of PCAPL will add to the product offerings of KNPL in the construction chemicals business. The deal is estimated to be completed by January 28, 2019.

Dilip Buildcon executes an agreement with NHAI

Shares of Dilip Buildcon traded higher on Friday after the company executed an agreement with the National Highways Authority of India (NHAI) for a road project worth Rs677.07cr in Uttar Pradesh.

The engineering, procurement, and construction (EPC) contract has been signed for the "rehabilitation and upgradation from 2 lanes to 4 lanes of the NH stretch under NHDP-IVB for the Lalganj  Hanumanha Section of NH-7 (Pkg-3) in Uttar Pradesh," the company said in a press note to the exchanges on Friday. The work is expected to be finished in 30 months.

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CS OPENING BEL 26- DEC-2018

NIFTY SPOT down 74 @10589
SENSEX SPOT down 259 @35215
BANK NIFTY FUTURES down 190 @26704
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CS NIFTY FUTURES (NOV ) OVERVIEW

TREND BEARISH
RES2: 11000
RES 1:10810
SUP1:10520
SUP2:10300 

CS BANK NIFTY FUTURES (NOV ) OVERVIEW

TREND BULLISH 
RES 2: 27100
RES 1: 26800
SUP1: 26510
SUP2: 26200 

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CORPORATE NEWS 06-DEC-2018

Aurobindo to face lawsuit in US for Irbesartan contamination

As per news sources, a lawsuit has been filed in Federal Court of Florida against Aurobindo Pharma for the contamination of its Irbesartan APIs, used in the treatment of high blood pressure. The class action lawsuit also named US pharma company ScieGen Pharmaceuticals, distributor Westminster Pharmaceuticals and the US retail supply chain giant Walmart.

Earlier this year, human carcinogenic impurities were found in the APIs supplied by a Chinese company Zhejiang Huahai Pharmaceuticals. Zhejiang Huahai was manufacturing Sartan range of products which is used in the treatment of high blood pressure. Zhejiang Huahai then recalled the Sartan products in many countries. Zhejiang Huahai is currently facing several lawsuits in the USA.

Infosys inaugurates Hartford Technology and Innovation Hub

Infosys, a global leader in next-generation digital services and consulting, inaugurated its Technology and Innovation Hub in Hartford. Infosys also announced that it has hired more than 7,000 American workers in the last 18 months as part of its ongoing commitment to accelerate the pace of digital innovation for American enterprises. The Hartford Hub, located at 225 Asylum Street in the Goodwin Square Building, will help Infosys work more closely with its clients in the region and will serve as the global Hub for Infosys’ InsurTech and HealthTech efforts. The Hub will feature Living Labs for the Future of Insurance, the Future of Healthcare and the Future of Manufacturing amongst others.

Sagar Cements board approves investments in Satguru, Jajpur Cements

The board of Sagar Cements, at its meeting on Wednesday, has approved investments in two companies, namely Satguru Cements and Jajpur Cements. “The board has approved a proposal to invest a sum of Rs150cr in Satguru Cement Pvt Ltd (SCPL), Indore, to set-up a greenfield cement manufacturing plant of 1mn ton capacity along with waste heat recovery power plant at a total cost of Rs426cr. SCL will be holding 65% in the equity share capital of SCPL on completion of the above projects,” Sagar Cements said in a filing to the exchanges aftermarket hours on Wednesday.

Power Grid wins bid for UP transmission line project

Shares of Power Grid Corporation of India gained in the morning session today after it bagged a project to set up a transmission system for evacuating electricity from the 1,320MW Jawaharpur thermal power project and construct a substation in Uttar Pradesh. “Power Grid has been declared as the successful bidder under Tariff based competitive bidding to establish the transmission system for evacuation of power from 2 x 660MW Jawaharpur Thermal Power Project and construction of 400kV substation at Firozabad along with associated Transmission Lines' on build-own-operate-maintain (BOOM) basis,” the company said in a filing to the exchanges after-market hours on Wednesday.

Moody's changes GSK’s outlook to negative; affirms A2 rating

Moody's Investors Service has changed the outlook for GlaxoSmithKline plc (GSK) and its subsidiaries to negative from stable. The change in outlook follows the company's announcement on December 3, of its intention to acquire Tesaro for $5.1bn. At the same time, Moody's has affirmed GSK's A2/(P)A2 long-term and (P)Prime-1 ratings. "We have changed GSK's outlook to negative as the company will deleverage more slowly than expected following the acquisition of Tesaro. While the acquisition allows for a solid strengthening of GSK's oncology franchise, we expect credit metrics to remain weak for a prolonged period of time," said Knut Slatten from Moody's.

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MARKET WRAP UP 04-OCT-2018

Closing Bell: Bloodbath on Dalal Street; Sensex plunges 806 pts, Nifty ends tad below 10,600.

Benchmark indices closed sharply lower on Wednesday with the Sensex losing 806.47 points or 2.24 percent to 35,169.16 as all sectoral indices ended in the red.

The 50-share NSE Nifty plunged 259 points or 2.39 percent to 10,599.30. More than two shares declined for every share rising on the BSE.

HPCL, BPCL and IOC were biggest losers among Nifty50 stocks, falling more than 11 percent after Finance Minister Arun Jaitley said the government cut excise duty on petrol & diesel by Rs 1.50 per litre. "Oil marketing companies will absorb Re 1 per litre w.r.t petrol & diesel prices."

Reliance Industries (6.87 percent) and Eicher Motors (5.71 percent) were other losers while ICICI Bank bucked the trend, rising 4.21 percent followed by Axis Bank (up 2.45 percent), UltraTechCement (2.16 percent), Bharti Infratel (1.77 percent) and Yes Bank (up 1.06 percent).

HEADLINES OF THE DAY

Chanda Kochhar quits ICICI Bank, Sandeep Bakhshi to succeed her as MD & CEO.

Indian rupee recovers from record low of 73.81 per dollar.

The crucial resistance for Nifty spot is now seen at 10630 and above this 10720 Support for the immediate term is now placed at 10420 next support will be 10200.

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CS OPENING BELL 01 OCT 2018

NIFTY SPOT DOWN 48 @10877

SENSEX SPOT DOWN 95 @36107

BANK NIFTY FUTURES DOWN 214 @25000

HAPPY TRADING!

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CS NIFTY FUTURES (OCT ) OVERVIEW

TREND BEARISH

RES2: 11280

RES 1:11140

SUP1:10910

SUP2:10800

CS BANK NIFTY FUTURES (OCT ) OVERVIEW

TREND BULLISH

RES 2: 25800

RES 1: 25550

SUP1: 24800

SUP2: 24420 

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Profitable Morning news and update

The NSE benchmark Nifty continued with its upmove and posted a record closing high. However, Nifty traded in a narrow range throughout the session and ended above the 11,450 mark. The price action formed a small body negative candle. Going into trade on Friday, we expect a lacklustre start to the trading. The levels of 10,500 followed by 11,535 are likely to act as immediate resistance levels for the Nifty, while in the case of retracement, which is overdue given the overbought nature of the markets, we hold the level of 11,430 as immediate support, followed by 11,360. 

HSIL: The commercial production of the first phase of CPVC, UPVC, SWR and PVC pipes and fittings plant situated in Telangana has commenced. 

  

GMR Infrastructure: GMR Hyderabad International Airport Limited, a subsidiary of the company, has issued LOIA for construction of the terminal building and airside infrastructure contracts through international competitive bidding on L1 basis to Larsen & Toubro Ltd for an amount of Rs. 30.28 billion and to Megawide Construction Corporation for an amount of Rs. 9.80 billion.

  

Zensar Technologies: The company's record date for 1:5 stock split is September 10.

    

Vikas WSP: The company has received orders for Rs. 219.36 crore thermogel-30 guar gum and DP-100 guar gum for yoghurt, dairy, milk, healthcare applications. The company has received these orders from its global customer base. These orders would be executed in August and September 2018.

    

Adani Enterprises: Adani Agri Logistics Ltd, a wholly-owned subsidiary of the company, has incorporated wholly-owned subsidiaries namely, Adani Agri Logistics (Dhamora) Ltd and Adani Agri Logistics (Borivali) Ltd.

  

Jet Airways: Jet Airways board has deferred June quarter results as the audit committee has refused to approve earnings.

  

SBI: The bank has received the approval of executive committee of the Central Board to explore and initiate divestment up to 4 per cent of the stake of SBI in SBI General Insurance.

  

Manappuram Finance: The company's board has approved the proposal of fundraising up to Rs. 3,000 crore through public issue of non-convertible debentures (NCDs) in multiple tranches during FY18-19.

  

Indian Energy Exchange: The company has recommended sub-division of one equity share of face value of Rs. 10 each into one fully paid-up equity share of Re. 1 each.

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