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 Mark Nearly 2-1/2 Week Closing High Ahead Of Modi's Independence Day Speech

INDIAN EQUITY BENCHMARKS rose for a fourth consecutive session to its highest close in nearly two-and-a-half weeks.

• Further, India’s wholesale price (WPI) inflation eased to a five-month low in July, helped by a moderation in fuel costs. The WPI rose 5.19% year-on-year last month, its slowest pace since February. In June, prices rose 5.43% from a year earlier.

• Financial Technologies has announced the results for the quarter ended June 30, 2014 net profit of the company rose by 57.92% to Rs128.25 crore Vs Rs81.21 crore YoY.

The crucial resistance for Nifty is now seen at 7800 and above this 7840. Support for the immediate term is now placed at 7740 and next support will be 7695.

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INDIAN EQUITY MARKET STRATEGY- 05 August 2014

INDIAN BENCHMARKS trade in green ahead of RBI decision. The Reserve Bank of India is expected to keep interest rates steady while adopting tougher rhetoric on inflation at a policy review today due to growing concerns that disappointing monsoon rains will lead to a surge in food prices.

FURTHER, Power Grid Corporation of India Ltd has posted a net profit of Rs. 11365.10 million for the quarter ended June 30, 2014 as compared to Rs. 10403.40 mn for the quarter ended June 30, 2013. Tata Communications has posted a net profit at Rs125.65 crore Vs Rs231.71 crore YoY. Total Income is Rs1186.86 crore Vs Rs1205.11 crore.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs. 250cr, as per the provisional figures released by the NSE.

INDIAN EQUITY MARKET STRATEGY- 04 August 2014

INDIAN BENCHMARK open with a positive bias tracking positive cues from most of the Asian markets. Investors are likely to maintain cautious approach ahead of the RBI credit policy on August 05, 2014. In addition, the release of HSBC India Services PMI data on Tuesday will further add to market cautiousness.

FURTHER, TVS Motor Company reported a 32.15 per cent increase in its total sales at 2, 03,092 units in July 2014. The company had sold 1, 53,676 units in the same month last year. Syndicate Bank has fell 6% in otherwise firm market after the Central Bureau of Investigation has arrested S K Jain, chairman and managing director of the bank, for allegedly accepting bribes from private companies to extend credit facilities.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net buyers of Rs. 1074cr, as per the provisional figures released by the NSE.

Markets may open lower on weak global cues

Markets are likely to open in the negative territory tracking    weak global cues.

Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment.

The U.S. S&P500 stock index posted its worst daily fall since April and its first monthly drop since January on Thursday, as economic data sparked concern the Federal Reserve could raise interest rates sooner than some have expected.

 

Problems in overseas economies added to the bearish tone, with Argentina defaulting on its debt for the second time in 12 years.

Stocks to watch:

Maruti Suzuki  India, the country’s largest car maker, reported a 20.7 per cent increase in net profit at Rs 762 crore for the financial year’s first quarter ended June.

 

JSW Steel, India’s third-largest steel maker, plans to invest $22 billion (about Rs 1,32,000 crore) through the next 10 years to raise its total capacity from 14.3 million tonnes (mt) to 40 mt by 2025.

 

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COMMODITY MARKET OUTLOOK 28 JULY 2014

 Agri Commodity Market

CS CHANA (AUGUST) OVERVIEW:
TREND  CONSOLIDATE
SUP1:2795
SUP2:2740
RESIST1:2900
RESIST2:2926
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000

CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11250
SUP2:11000
RESIST1:11620
RESIST2:11780
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000

CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6420
SUP2:6316
RESIST1:6600
RESIST2:6700
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000

CS SOYABEAN (OCTOBER) OVERVIEW:
TREND  CONSOLIDATE
SUP1:3660
SUP2:3600
RESIST1:3750
RESIST2:3860
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000

bullion Commodity market

CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:430
SUP2:425       
RESIST1:437
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000

CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6090
SUP2:6010
RESIST1:6230
RESIST2:6300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000

CS GOLD (AUG) OVERVIEW:   
TREND CONSOLIDATE
SUP1:27550
SUP2:27300
RESIST1:28100
RESIST2:28400
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000

CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:43600
SUP2:42900   
RESIST1:44800
RESIST2:45300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000

INDIAN EQUITY MARKET STRATEGY- 24 JULY 2014

INDIAN BENCHMARK opened on a flat note with a negative bias after yesterday's rally. Ipca Laboratories has dipped 6% after it has received certain inspection observations from the US Food and Drug Administration over manufacturing at its Ratlam plant in Madhya Pradesh.

  Read More : www.capitalstars.com/services.php

FURTHER, Cairn India has dipped 5% after reporting a sharp 65% year on year fall in its consolidated net profit for the April-June 2014 quarter at Rs 1,093 crore. Texmaco Rail & Engineering Ltd has decided to raise Rs.3bn for expansion and diversification.

  Read More : www.capitalstars.com/services.php

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net seller of Rs. 292cr, as per the provisional figures released by the NSE.

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TOP CORPORATE NEWS 23 JULY 2014

·        YES Bank Q1 profit up 10% to Rs 439.5 cr, misses forecast

YES Bank first quarter (April-June) net profit rising 9.7 percent on yearly basis to Rs 439.5 crore despite fall in provisions. Lower other income and higher operating expenses impacted bottom line.

·        Polaris Q1 profit slips 15.6% to Rs 38.3 cr

Polaris Financial Technology  disappointed the street by reporting a consolidated net profit at Rs 38.3 crore in April-June quarter, down 15.6 percent compared to Rs 45.4 crore in previous quarter due to fall in revenues and higher tax cost.

·        NIIT Q1 FY15 net profit at Rs. 60 lakh

NIIT Ltd reported its results for the first quarter ended June 30, 2014. In this quarter, the company recorded Net Revenue of Rs 225.3 Cr with a PAT of Rs 0.6 Cr. EBITDA was recorded at Rs 12.8 Cr, up 23% YoY, and the Operating margin stood at 6% up 101 bps YoY.

·        KPIT Tech slumps after poor Q1 results

KPIT Technologies slumped 6.76% after consolidated net profit fell 17.13% to Rs 50.80 crore on 1.5% decline in revenue to Rs 689.70 crore in Q1 June 2014 over Q4 March 2014.

INDIAN EQUITY MARKET STRATEGY- 23 JULY 2014

INDIAN BENCHMARK opened on a strong note with the Nifty starting to its all time high of a over 7,800.

FURTHER, Syndicate Bank plans to raise Rs 1,100 crore through a qualified institutional placement in the current financial year. KPIT Technologies reported a 17.1% rise in the Q1 net profit at Rs33.5 crore from Rs28.6 crore in the corresponding period previous year. On a sequential basis, net profit declined by 26.6%.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net buyers of Rs. 59cr, as per the provisional figures released by the NSE.

TOP CORPORATE NEWS

• Asian Paints Q1 profit rises 23% on strong revenue, EBITDA

Asian Paints reported slightly better-than-expected earnings on top line as well as bottom line fronts while operational performance was very strong led by increase in product prices despite higher raw material cost. Consolidated net profit grew 23.2 percent on yearly basis to Rs 338.7 crore on total income of Rs 3,362 crore.

• Ceat skids post June quarter results

Ceat has falling nearly 12% after reporting 21% year on year decline in consolidated net profit at Rs 52 crore for the first quarter ended June 30, 2014, due to higher expenditure.

• Axis Bank Q1 profit rises 18%, asset quality disappoints

Axis Bank reported a 18.3 percent growth in net profit at Rs 1,667 crore for the quarter ended June 2014 compared to Rs 1,703 crore in same quarter last year, which was lower than expectations of 21 percent growth due to lower other income and higher operating expenses despite significant fall in provisions.

• Hexaware Tech Q1 PAT at Rs765mn

Hexaware Technologies Ltd has posted results for the first quarter ended 30th June, 2014. The net profit for the quarter stood at Rs765mn. The net sales stood at Rs610crore for Q1. EBITDA margin for the quarter was 16.7%. EBIT margin at 14.9%.

INDIAN EQUITY MARKET STRATEGY-22 JULY 2014

INDIAN BENCHMARK have opened on a firm note tracking positive trend in Asian markets. Moreover, worry over continuing tension in Ukraine and the Middle East has barely affected the investor sentiments.

FURTHER, Jindal Steel & Power Ltd has announced that Executive Sub-Committee of Directors has on July 21, 2014, allotted 17,816 equity shares of Re1 each in accordance with the terms of Company’s Employees Stock Purchase Scheme. Exide Industries Ltd has announced the results for the quarter ended June 30, 2014 net profit up 16.68% at Rs185.30 crore vs Rs158.80 crore (YoY). Total Income up 17.59% at Rs1921.10 crore vs Rs1633.68 crore.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs. 181cr, as per the provisional figures released by the NSE.