TOP CORPORATE NEWS

·        Sun Pharma at record high, arm buys US-based Pharmalucence

Shares of Sun Pharmaceutical Industries  touched an all-time high of Rs 753 on the up 1.93 percent after its subsidiary acquired US-based Pharmalucence Inc.

·        Kotak Mahindra Bank Q1 net up 11%, asset quality improves

Kotak Mahindra Bank reported stable earnings with the consolidated net profit rising 11.3 percent on yearly basis to Rs 698.3 crore during April-June quarter on account of lower provisions and higher other income but higher operating expenses limited profitability of the bank.

·        Federal Bank Q1 profit up 108% on fall in provisions

Federal Bank reported strong earnings with the first quarter (April-June) net profit surging 108 percent to Rs 220.2 crore compared to Rs 105.7 crore in same quarter last year, aided by sharp fall in provisions and improvement in asset quality performance despite fall in other income.

·         DLF plans to raise Rs35bn

DLF Ltd is planning to raise up to Rs 3,500 crore through issue of securities backed by IT-SEZ. The company has office assets of 26-27 million sq ft, of which 12 million sq ft is IT-SEZs.

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TOP CORPORATE NEWS

·        Gems and jewellery stocks extend fall post budget

Gems and jewellery stocks are continued under pressure third day in a row falling by up to 17% after the government kept gold import duty unchanged at a record 10% in the budget.

·        WPI inflation eases to 4-month low of 5.43% in June

WPI inflation eased to a four-month low of 5.43% in June from 6.01% last month. Food articles inflation at 8.14% vs 9.50% mom, Manufactured products inflation at 3.61% vs 3.55% mom, Fuel and power group inflation at 9.04% vs 10.53% mom, Primary articles inflation at 6.84 vs 8.58% mom.

·        Tata Power seeks shareholders nod to raise Rs70bn

Tata Power is seeking shareholders nod to raise up to Rs 7,000 crore through issue of non-convertible debentures. The company has proposed increasing its borrowing limit to Rs 27,000 crore.

·        Titan declines on buzz jewellery unit closes gold deposit schemes

Titan Company lost 2.54% on reports that the company's jewellery unit, Tanishq had closed two gold deposit schemes. Tanishq said it would close the deposit schemes due to changes to rules governing the sale of deposits under the Companies Act passed last year.

TOP CORPORATE NEWS

·        Kotak Mahindra Bank up 2%, RBI allows FIIs to buy shares

Shares of Kotak Mahindra Bank gained as much as 1.77 percent after the Reserve Bank of India allowed FIIs to buy shares of the bank through primary market and stock exchanges.

·        Infosys Q1 net falls 3.5%, FY15 $ revenue to grow 7-9%

Infosys has reported a consolidated net profit of Rs 2,886 crore in April-June quarter, degrowth of 3.5 percent compared to Rs 2,992 crore in previous quarter. Year-on-year growth in profit was 21.6 percent.

·        Sun Pharma recalls antidepressant drug from US market

Sun Pharma has initiated recall of some lots of Venlafaxine Hydrochloride extended-release tablets from the US market. According to a notification by the FDA, the recall of 26,530 units of 30-count bottles and 14,597 units of 90-count bottles is voluntarily initiated by the company through a letter to the regulator last month under 'Class-II' classification.

·        Polaris slumps as key shareholder cuts stake

Polaris Financial Technology tumbled 7.17%, after the company's second largest shareholder trimmed its stake on Thursday, 10 July 2014.

CS PERFORMANCE MESSAGE 04 JULY 2014

STOCK FUTURES:

FUTURES INTRADAY:

UPL LTD FUTURES BUY CALL 3 TG

CESC FUTURES BUY CALL 3 TG

ALLAHABAD BANK FUTURES SELL CALL 3 TG

JAIN IRRIGATION FUTURES BUY CALL 2 TG

UNITED SPIRITS FUTURES SELL CALL 2 TG

VOLTAS LTD FUTURES SELL CALL 2 TG

PNB FUTURES SELL CALL COST EXIT

PREMIUM FUTURES:

UPL LTD FUTURES BUY CALL 2 TG

CESC FUTURES BUY CALL SL TRIGGERED

NIFTY FUTURES:

BANK NIFTY FUTURES SELL CALL 3 TG

NIFTY FUTURES SELL CALL 3 TG

NIFTY FUTURES BUY CALL 1 TG (BOOKED AT 7727)

OPTION:

UPL LTD 350 CALL BUY CALL 3 TG

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADY:

POLARIS BUY CALL 3 TG

LIBERTY SHOES BUY CALL 3 TG

FINOLEX CABLES BUY CALL 3 TG (BOOKED AT 209.40)

CESC BUY CALL SL TRIGGERED

STOCK CASH PREMIUM:

FINOLEX CABLES BUY CALL 1 TG (BOOKED AT 209.40)

LIBERTY SHOES BUY CALL BOOKED AT 295.20

COMMODITY MARKET STRATEGY 04 July 2014

BASE METAL WRAP: Nickel advanced to the highest since May as the U.S. unemployment rate fell to the lowest in almost six years, signaling that stronger economies will boost demand amid supply curbs.

ENERGY WRAP: West Texas Intermediate and Brent headed for a second weekly drop amid speculation that Iraq’s crude production will remain unaffected by violence and as Libya prepares to resume exports from two terminals.

PRECIOUS METAL WRAP: Gold held below a three-month high, trimming a fifth weekly rise, as investors assessed the outlook for higher U.S. borrowing costs after employment data beat estimates. Palladium traded near the highest price since 2001.

GLOBAL EVENTS TO WATCH: Retail PMI, Bank Holiday.

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INDIAN BENCHMARK have started the trading session on a flat note

INDIAN BENCHMARK have started the trading session on a flat note with a positive bias with Sensex and Nifty hovering around 25,800 mark and 7, 700 levels.

FURTHER, Cairn India signed up Halliburton Company, a US multinational, for a Rs 1,200-crore contract to drill 100 wells at the Rajasthan on land block RJ-ON-90/1 over the next 18 months. Bharti Airtel rose 2.09% after the Reserve Bank of India allowed foreign institutional investors to purchase up to 74% of the paid-up capital of the company.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net sellers of Rs. 624cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARK opened on record high levels

INDIAN BENCHMARK opened on record high levels after the government decided to take bold decisions and pursue path of fiscal prudence to revive the economy. In addition, firm global cues boosted the market sentiments.

FURTHER, Aban Offshore is in the process of raising about Rs 2,500 crore through the qualified institutional placement route. Tata Motors total sales (including exports) of Tata commercial and passenger vehicles in June 2014 were 38,557 vehicles, a decline of 27% over 52,712 vehicles sold in June 2013.

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. 774cr, as per the provisional figures released by the NSE.

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