TOP CORPORATE NEWS 04 Septmber 2014

·        JP Associates drops on Stake Sale

Jaiprakash Associates drop over 19%, after Jaypee Infra Ventures sold 1,34,89,693 shares of Jaiprakash Associates at Rs46.33 on the NSE.

·        DLF falls 9%, Haryana govt cancels 350-acre land allotment

DLF tumbled 9 percent as worried investors are offloading the stock after the Haryana government cancelled the 350-acre land allotment made to the company in 2010.

·        PNB undertakes Rs500 crore fund raising

PNB announced that the Bank is raising Rs. 500 crore Tier-II Basel III compliant Bonds at an annual coupon of 9.35% on Private placement basis from 04 September 2014 to 09 September 2014 through five arrangers.

·        TVS Motor gains after BofAML ups target to Rs 235

Shares of TVS Motor were up 5% following a buy rating on the stock by global brokerage BofA Merrill Lynch because of strong business prospects and at current levels valuations are attractive to its peers.

INDIAN BENCHMARKS surges…Nifty past 8,000 to record high

INDIAN EQUITY BENCHMARKS surged with nifty past the psychologically important 8,000 level for the first time gained after better-than-expected quarterly GDP data.

•    Voltas gained 2 percent as Bank of America Merrill Lynch reiterates buy rating on the stock with an increased target price of Rs 305 per share.

•    Further, Bharti Airtel climbed 1.7 percent after Airtel Network Kenya has acquired 2.7 million subscribers of Essar telecommunications Kenya.

The crucial resistance for Nifty is now seen at 8035 and above this 8070. Support for the immediate term is now placed at 7980 and next support will be 7920.

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MORNING MAIL 28 August 2014

INDIAN BENCHMARK open marginally higher amid firm global cues. Further, markets are likely to remain volatile in the latter half of the trading session with expiry of August derivative contracts today.

FURTHER, Piramal Enterprises is rejigging its research and development activities with a focus on molecules that are at an advanced stage of development. DLF will continue to be under pressure after the Supreme Court on Wednesday directed DLF to deposit Rs 630 crore in the registry within three months.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 236cr, as per the provisional figures released by the NSE.

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TOP CORPORATE NEWS 25 August 2014

·        Supreme Court says coal block allocations post 1993 illegal

Supreme Court has pronounced the terms under which coal blocks were allocated post 1993 as illegal but stopped short of deallocating the blocks. The conseqence of illegality will be determined on September 1, 2014. The apex court observed that the issue of de-allocation will need further hearing, but barred UMPPs from exploiting captive mines.

·        GAIL to restart work on Rs 10,000-cr Energy Highway

GAIL India said work was set to start on the 2,050-km Jagdishpur-Phulpur-Haldia natural gas pipeline, which will serve as the Energy Highway for West Bengal, Bihar, Jharkhand and Uttar Pradesh.

·        Adani Group plans 2,500 MW rejected coal based power plant

Adani Group is close to signing up a Memorandum of Understanding (MoU) with the Odisha government to set up 2,500 MW of rejected coal based power plant in Angul district. The proposed investment is Rs 12,500 crore, as divulged by the company's senior management.

·        Ranbaxy faces Rs 242 crore US fine

Shares of Ranbaxy Laboratories was up 2% on reports that company may have to pay Rs 242 crore fine, imposed by the State of Texas.

INDIAN BENCHMARKS end at record closing high

INDIAN EQUITY BENCHMARKS ended at fresh life time high on positive global cues and a sharp decline in crude oil prices.

·         Tata Motors DVR jumped 5.6 percent after a report in the Times of India newspaper that Indian exchanges may consider admitting such shares on their benchmark indexes.

·         Further, Jubilant Foodworks gained 6.2 percent after Bank of America Merrill Lynch started coverage with a buy rating and a target price of 1,375 rupees, saying the company is in a "sweet spot" in the large and high-growth quick service restaurants market.

The crucial resistance for Nifty is now seen at 7910 and above this 7945. Support for the immediate term is now placed at 7780 and next support will be 7740.

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INDIAN BENCHMARKS mark second consecutive weekly fall on geopolitical concerns

INDIAN EQUITY BENCHMARKS flat-to-lower as investors eye global factors. Concerns about potential U.S. strikes on Iraq and tensions between the West and Russia are among geo-political risk factors.

·         Further, JSW Steel reported Crude Steel Production for July 2014, at 11.13 lac tonnes showing growth of 12% over corresponding month of previous year.

·         Corporation Bank  net profit slipped 38.8 percent year-on-year to Rs 231.4 crore in the quarter ended June 2014 dented by lower net interest income and other income, and higher provisions

The crucial resistance for Nifty is now seen at 7600 and above this 7680. Support for the immediate term is now placed at 7540 and next support will be 7460.

TOP CORPORATE NEWS 08 August 2014

·        SBI surprises street, Q1 profit rises 3% to Rs 3349 cr

State Bank of India surprised street with the first quarter (April-June) net profit rising 3.3 percent year-on-year to Rs 3,349 crore on higher net interest income though it was impacted by higher provisions, tax cost and lower other income. Net profit in the year-ago period was Rs 3,241.08 crore. The growth in profitability was for the first time in last six quarters.

·        M&M Q1 standalone profit beats estimate

Mahindra and Mahindra has reported a 4.3 percent growth in first quarter (April-June) profit at Rs 896.4 crore compared to Rs 859.8 crore in same quarter last year driven by operational performance.

·        Siemens bags orders from Reliance Industries for supply of steam turbines

Siemens announced that it has received orders for approximately Rs 228 crores from Reliance Industries Ltd for supply of four 600 Steam Turbogenerator units for its Jamnagar Refinery.

·        Chambal Fertilisers Q1 PAT declines 28% to Rs 80.8 cr

Chambal Fertilisers and Chemicals Q1FY15 (April-June) net profit declined 28.5 percent to Rs 80.8 crore from Rs 113 crore in a year ago period. Net sales of the company were up 18 percent at Rs 1,994 crore versus Rs 1,687 crore, Y-o-Y.

INDIAN BENCHMARKS ended with losses, highly volatile trading session… Nifty ends below 7650

INDIAN EQUITY BENCHMARKS fell second straight day with highly volatile trading session. The indices which flirted in the green zone for a while saw a sudden bout of selling in the second half.

·         Further, Mahindra & Mahindra Ltd.’s credit rating has been upgraded to AAA, by Credit Analysis & Research Ltd. (CARE). The rating agency assigned its highest ‘CARE AAA’ level of rating for the long-term bank facilities of M&M.

·         Bharti Infratel slumped 7.07%, as the floor price for offer for sale of shares by promoter Bharti Airtel was set at a discount to the stock's ruling market price.

The crucial resistance for Nifty is now seen at 7750 and above this 7840. Support for the immediate term is now placed at 7620 and next support will be 7595.

COMMODITY MARKET STRATEGY 05 AUGUST 2014

BASE METAL WRAP: Copper rose on Monday as a rally in China's stock markets indicated improving prospects for demand in the world's largest consumer of the industrial metal, although growing global supplies kept investors cautious.

ENERGY WRAP: West Texas Intermediate crude traded near the highest price in three days before supply data that will signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent in London was steady.

PRECIOUS METAL WRAP: Gold held below $1,300 an ounce as Portugal’s bailout of Banco Espirito Santo SA reduced concern the lender’s crisis may spread and tension in Gaza eased, damping demand for a haven. Silver rose from a six-week low.

GLOBAL EVENTS TO WATCH: Trade Balance, HSBC Services PMI, Cash Rate, RBA Rate Statement, Services PMI, Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders m/m, IBD/TIPP Economic Optimism.

Sensex hovers around 25,600; auto stocks gain

Rate sensitives gain ahead of RBI's policy review tomorrow

Markets were firm in early noon trades supported by gains in interest sensitives ahead of RBI's policy review tomorrow. At 1205 hrs, the Sensex was up 132 points at 25,613 and the Nifty gained 50 points to trade at 7,652.

In the broader market, the smallcap index outperformed the BSE benchmark with gains of 1%. Meanwhile, the midcap index was up 0.6%.

The rupee is trading at 60.90/91 versus Friday's close of 61.18/19, tracking losses in the dollar compared with most other Asian currencies. The pair is seen in 60.80 to 61.20 range during the session.

Sectors & Stocks

Health Care index down 0.2% was the only sectoral index in red.
Consumer Durables, Auto, IT indices were up 1-2.5%.
Banking index up 0.5% have come off day highs.
HDFC twins, Sun Pharma, Coal India, Bharti Airtel and Cipla down 0.8-1.7% were the losers among Sensex-30.

COMMODITY MARKET STRATEGY 04 AUGUST 2014

BASE METAL WRAP: London copper was a tad firmer on Monday after weak U.S. employment data soothed concerns that the Federal Reserve would soon begin to draw back liquidity that has cushioned demand for metals.

ENERGY WRAP: West Texas Intermediate crude traded near the lowest price in six months before data that will signal the strength of the economy in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: A slew of worries fueled by U.S. and European data, Argentina's default on its debts and conflict in Ukraine and in the Middle East sent investors rushing to safe-harbor gold positions on Friday.

GLOBAL EVENTS TO WATCH: Retail Sales m/m, Construction PMI, Loan Officer Survey.

COMMODITY MARKET STRATEGY 01 AUGUST 2014

BASE METAL WRAP: London copper eased on Friday after a rout on Wall Street over Argentinian default soured risk appetite and ahead of a deluge of economic indicators out later in the session, including an assessment of activity in China's vast manufacturing sector.

ENERGY WRAP: West Texas Intermediate fell for a fifth day after capping the biggest monthly decline in more than two years amid signs of weaker fuel demand in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction.

GLOBAL EVENTS TO WATCH: Manufacturing PMI, PPI q/q, HSBC Final Manufacturing PMI, BOJ Gov Kuroda Speaks, Manufacturing PMI, Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, Core PCE Price Index m/m, Personal Spending m/m, Personal Income m/m, Final Manufacturing PMI, Revised UoM Consumer Sentiment, Revised UoM Inflation Expectations, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, Total Vehicle Sales.

CS PERFORMANCE MESSAGE: 31 July 2014

STOCK FUTURES:

FUTURES INTRADAY:

ARVIND LTD FUTURE SELL CALL 3TGT

UPL LTD FUTURE BUY CALL 3TGT

IRB INFRA FUTURE BUY CALL 2TGT

HCL TECH FUTURE SELL CALL 1TGT

NTPC FUTURE SELL CALL COST EXIT

MARUTI FUTURE SELL CALL COST EXIT

PREMIUM FUTURES:

NIFTY FUTURES:

NIFTY FUTURES SELL CALL 2TGT

OPTION:

DABUR INDIA 200 CALL BUY CALL 3 TG

AUROBINDO PHARMA 680 CALL 1TGT

CIPLA 450 CALL BUY CALL 1TGT

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADAY:

SUN TV BUY CALL 3 TG

INDOCO REMEDIES BUY CALL 3TGT

ABAN OFFSHORE BUY CALL 2TGT.

STOCK CASH PREMIUM:

CS PERFORMANCE MESSAGE

STOCK FUTURES:

FUTURES INTRADAY:

ARVIND LTD FUTURE BUY CALL 3TGT

UPL LTD FUTURE BUY CALL 3TGT

BHARTI AIRTEL FUTURE BUY CALL 2TGT

HUL FUTURE BUY CALL 1TGT

HAVELLS INDIA FUTURES SELL CALL BOOKED AT 1165

BHARAT FORGE FUTURE BUY CALL SL TRIGRRED

PREMIUM FUTURES:

TATA MOTORS FUTURE SELL CALL SL TRIGRRED

NIFTY FUTURES:

BANK NIFTY FUTURES BUY CALL 1 TG

NIFTY FUTURES SELL CALL BOOKED AT 7711

OPTION:

ARVIND LTD 225 CALL BUY CALL 3 TG

IDEA 150 CALL BUY CALL 3 TG

TATA MOTORS 450 PUT BUY CALL 1 TG

OPTION PREMIUM:

ARVIND LTD 230 CALL BUY CALL 3 TG

HUL 680 CALL BUY CALL 1 TG

STOCK CASH:

STOCK CASH INTRADAY:

INDICO REMEDIES BUY CALL 3 TG

COX & KING BUY CALL 1TGT (BOOKED AT 276.40),

APOLLO TYRE SELL CALL EXIT AT 171.50.

STOCK CASH PREMIUM:

TOP CORPORATE NEWS

·        TVS Motor Q1 misses estimates, profit up 39% to Rs 72.3 cr

TVS Motor Company missed street expectations with the first quarter April-June net profit rising 39.3 percent at Rs 72.3 crore compared to Rs 51.9 crore in the year-ago period impacted by higher expenses.

·        ACC LTD Q2 profit misses forecast, falls 7%

ACC Ltd second quarter (April-June quarter) net profit falling 7 percent at Rs 241 crore compared to Rs 259.1 crore in same quarter last fiscal on account of higher total expenses.

·        DHFL Q1 net profit up 22.5% at Rs 147.2 cr

Dewan Housing Finance Corporation April-June quarter Q1FY15 net profit rose by 22.5 percent at Rs 147.2 crore against Rs 120 crore in the same quarter last fiscal.   Total Income jumped from Rs 1,107.4 crore to Rs 1,426.6 crore, Y-o-Y, a growth of 29 percent.

·        Liberty Shoes dips on weak Q1 numbers

Liberty Shoes lost 6% after the company’s net profit surged 1% to Rs 3 crore on 10% decline in total income from operations to Rs 102 crore in Q1 June 2014 over the same period last year.