INDIAN BENCHMARK open on a positive note tracking

INDIAN BENCHMARK open on a positive note tracking a bullish trend tracking Asian markets. Investors will be eying the HSBC India services PMI today.

FURTHER, NMDC's iron ore sales rose 23% to 25.2 lakh tonnes for the month of August. The company had dispatched 20.5 lakh tonnes iron ore during the same month last year. Hindalco has been exploring various options to raise USD 1 billion-plus or around Rs 5,000 to 6,000 crore funds.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs were net sellers of Rs. 167cr, as per the provisional figures released by the NSE

COMMODITY MARKET STRATEGY 26 August 2014

BASE METAL WRAP: Aluminium in London climbed for a second day following Alcoa Inc.’s decision to close a smelter in Italy and before durable goods orders data from the U.S., the second-largest consumer of industrial metals.

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

PRECIOUS METAL WRAP: Gold held losses near a two-month low on speculation that the U.S. Federal Reserve will raise borrowing costs next year, strengthening the dollar and damping demand for an alternative investment.

                                             

GLOBAL EVENTS TO WATCH: Trade Balance, CB Leading Index m/m, Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index.

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 BENCHMARK open higher with the Nifty rising above 7900

INDIAN BENCHMARK open higher with the Nifty rising above 7900 level supported by positive global cues, and capital goods, oil & gas, banks and metals stocks.

FURTHER, Aurobindo Pharma will be expanding the capacity of its active pharmaceutical ingredients ( APIs) unit (unit-11) in Vizag this fiscal. Indian Oil Corp is reportedly planning to raise processing of cheaper crude oil varieties to 30% by 2017-18.

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. 490cr, as per the provisional figures released by the NSE.

                                                                                                                                                                       

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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.

TOP CORPORATE NEWS 06 AUGUST 2014

·        Apollo Tyres Q1 net profit jumps 37%, EBITDA disappoints

Apollo Tyres disappointed with operational performance. Net profit grew by 37.4 percent to Rs 228 crore in the quarter ended June 2014 aided by other income. Profit in the year-ago period was Rs 165.9 crore.

·        Amara Raja Batteries Q1 net up 8% on strong revenue growth

Amara Raja Batteries reporting a 8.3 percent growth in profit after tax at Rs 106 crore in April-June quarter of current financial year 2014-15 driven by higher sales growth despite higher depreciation cost. Profit in the year-ago period was Rs 97.8 crore.

·        Adani Ports Q1 net profit jumps 36% at Rs 568 cr

Adani Ports Q1FY15 (April-June) consolidated net profit jumped 36 percent at Rs 568 crore versus Rs 417.5 crore in a year ago period. The consolidated total income was down 14.6 percent at Rs 1,261.6 crore versus Rs 1,478.4 crore, Y-o-Y.

·        IDBI Bank Q1 profit falls 66% on lower other income, NII

IDBI Bank  reported  net profit in April-June (Q1FY15) quarter plunged 66 percent to Rs 105 crore on account of lower other income and net interest income but supported by lower provisions. Profit in the year-ago period was Rs 307 crore.

CS PERFORMANCE MESSAGE 06 AUGUST 2014

STOCK FUTURES:

FUTURES INTRADAY:

APOLLO TYRE FUTURES SELL CALL 3 TG

UPL LTD FUTURES BUY CALL 2 TG

DABUR INDIA FUTURES BUY CALL 1 TG

SYNDICATE BANK FUTURES SELL 1 TG

M&M FUTURES BUY CALL BOOKED AT 1249

UNION BANK FUTURES BUY CALL COST EXIT

ADANI PORT FUTURES SL TRIGGERED

PREMIUM FUTURES:

AXIS BANK FUTURES 1 TG

NIFTY FUTURES:

BANK NIFTY FUTURES SELL CALL 2 TG

OPTION:

ADANIENT 450 CALL 3 TG

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADAY:

INOX LESIURE BUY CALL 2 TG

LLIBERTY SHOES SELL CALL 2 TG

APOLLO TYRES SELL CALL 2 TG

AMARA RAJA BATTERIES BUY CALL COST EXIT

STOCK CASH PREMIUM:

SYNDICATE BANK SELL CALL BOOKED AT 130.50

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TOP CORPORATE NEWS 05 August 2014

·        Tata Chemicals gains after strong Q1 results

Tata Chemicals rose 1.95% after consolidated net profit jumped 133.34% to Rs 175.50 crore on 17.41% growth in total income from operations to Rs 3846.64 crore in Q1 June 2014 over Q1 June 2013.

·        Cairn may get 10-year extension for Rajasthan block

Cairn India is planning to get a 10-year extension for its license to explore and produce oil and gas from the prolific Rajasthan block.

·        Ajanta Pharma tumbles after Q1 earnings

Ajanta Pharma slumped 9.22% after net profit surged 80% to Rs 59 crore on 32% growth in revenue from operations to Rs 287 crore in Q1 June 2014 over Q1 June 2013.

·        Bajaj Auto receives order for 40,000 Discovers from Sri Lanka

Bajaj Auto has received an order for 40,000 Discover motorcycles from the Sri Lanka government. The management expects the exports which stood at 1.69 lakh for the month of July to rise to between 1.85 to 1.90 units in the coming few months.

Top Corporate News 04 August 2014

• Petronet LNG Q1 net profit at Rs1566mn

Petronet LNG Ltd has posted a net profit of Rs. 1566.00 mn for the quarter ended June 30, 2014 as compared to Rs. 2253.20 mn for the quarter ended June 30, 2013.Total Income has increased from Rs. 84594.40 mn for the quarter ended June 30, 2013 to Rs. 101961.40 million for the quarter ended June 30, 2014.

• Ipca Laboratories Q1 net profit at Rs1454.90 mn

Ipca Laboratories Ltd has posted a net profit of Rs. 1454.90 mn for the quarter ended June 30, 2014 as compared to Rs. 717.70 million for the quarter ended June 30, 2013. Total Income has increased from Rs. 8100.10 million for the quarter ended June 30, 2013 to Rs. 9422.50 million for the quarter ended June 30, 2014.

• OBC turns volatile after Q1 results

Oriental Bank of Commerce rose 0.73% after net profit rose 3.15% to Rs 364.54 crore on 6.09% growth in total income to Rs 5576.02 crore in Q1 June 2014 over Q1 June 2013.

• Tata Power slips in volatile trade

Tata Power Company slipped 0.37%, with the stock reversing initial gain triggered by the company's subsidiary deciding to repay bonds worth $450 million ahead of its due date.

TOP CORPORATE NEWS

·        Union Bank zooms on strong quarterly results

Union Bank of India surged 7% after the company posted 19% rise in the net profit at Rs 664 crore for the quarter ended June 30, 2014 as against Rs 560 crore for the same period last year.

·        DLF Q1 net profit at Rs1277.70 mn

DLF Ltd has posted a net profit/(loss) after taxes, minority interest and share in profit/(loss) of associates of Rs. 1277.70 mn for the quarter ended June 30, 2014 as compared to Rs. 1811.90 mn for the quarter ended June 30, 2013.

·        HDIL Q1 net profit at Rs56.7 crores

HDIL has announced its results for Q1 ended 30th June 2014. Consolidated Total Income stands at Rs. 256.13 crores and PAT available for appropriation is Rs. 56.7 crores.

·        JSW Steel Q1 net profit at Rs. 8bn

JSW Steel Ltd has announced the result for the quarter ended June 30, 2014. Total Income has increased from Rs. 94304.10 million for the quarter ended June 30, 2013 to Rs. 116443.40 million for the quarter ended June 30, 2014

MORNING MAIL TODAY

INDIAN BENCHMARK were trading with marginal gains led by Infosys after the IT major's first quarter numbers were in-line with expectations.

FURTHER, Infosys today reported a consolidated net profit of Rs 2,886 crore compared to Rs 2,992 crore sequentially, a decrease of 3.6%. On a y-o-y basis, the company posted a 21.6% increase in its net profit. GMR Infrastructure rose after the company has approved the issue and allotment of 46.88 crore shares to eligible qualified institutional buyers at the issue price of Rs 31.50 per share.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net buyers of Rs. 4cr, as per the provisional figures released by the NSE.

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