TOP CORPORATE NEWS 14 August 2014

• Hindalco Q1 profit drops 31% on high fuel, finance cost

Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to Rs 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was Rs 474.1 crore.

• Voltas jumps after strong Q1 results

Voltas surged 7.58% after consolidated net profit jumped 165.85% to Rs 109 crore on 9.36% growth in sales to Rs 1752 crore in Q1 June 2014 over Q1 June 2013.

• PFC Q1 net profit up 21% YoY

PFC has announced the results for the quarter ended June 30, 2014 net profit of the company rose by 20.86% to Rs 1448.26 crore Vs Rs 1198.24 crore YoY. Total Income increased by 18.07% to Rs 5923.90 crore Vs Rs 5017.10 crore YoY.

• United Breweries Q1 net profit up 6.51% YoY

United Breweries has announced the results for the quarter ended June 30, 2014 net profit of the company rose by 6.51% to Rs 128.84 crore Vs Rs 120.96 crore YoY. Total Income increased by 7% to Rs 1456.94 crore Vs Rs 1361.56 crore YoY.

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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.

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INDIAN BENCHMARKS ends higher led by rate sensitive shares

INDIAN EQUITY BENCHMARKS surged in late trades, snapping their five-day losing streak, led by rate sensitive shares on hopes that easing inflation may give central bank the much needed comfort to cut key policy rates.

Further, Piramal Enterprises fell nearly 10% after the stock turned ex-dividend today for a dividend of Rs 52.50 per share.

TVS Motor Company gained 3.9%, extending its previous day’s rally, after the company's market share rose to 12.6% from 12.1% in June quarter, first time in two years.

The crucial resistance for Nifty is now seen at 7545 and above this 7625.Support for the immediate term is now placed at 7455 and next support will be 7420.

NEWS TO WATCH:

Watch out Quarterly Earnings of Kotak bank, South Indian bank, Federal bank, Bajaj Finance on 16^th July 2014

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INDIAN BENCHMARKS end at 5- week low…Broader markets crash

INDIAN EQUITY BENCHMARKS ended at 5-week closing low dragged by heavy profit booking even investors sought the safety of defensive shares. Market fell after government said that General Anti-Avoidance Rules (GAAR) will be applicable from April 1, 2015. Market was hoping the government would defer GAAR to 2017.

·        1.  Further, Banking shares mainly PSUs fell for seventh straight session, touching over one-month low as the government has decided to reduce its stake in the public sector banks.

·        2.  Jain Irrigation Systems saw selling pressure on a 21 percent reduction in overall subsidy under National Mission on Sustainable Agriculture by Finance Minister Arun Jaitley in maiden Union Budget 2014-15.

The crucial resistance for Nifty is now seen at 7625 and above this 7730. Support for the immediate term is now placed at 7440 and next support will be 7360.

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TOP CORPORATE NEWS

·        GMR Infra, JP Associates fall after launching QIP

Shares of GMR Infrastructure and Jaiprakash Associates have declined more than 4% each after both these companies announced launch of qualified institutional placement on July 2 to raise funds.

·        HDIL to divest 100% shareholding in HDIL Entertainment

Housing Development and Infrastructure Ltd has entered into definitive agreements with respect to transfer of its 100% shareholding of its wholly owned subsidiary company, viz HDIL Entertainment.

                                                                                                        

·        Reliance Cap up 1% on plans to sell non-core assets

Shares of Reliance Capital jumped over 1 percent it is beginning the process of unlocking value from investments in non-core sectors to focus on its key financial services businesses.

·        Ranbaxy Laboratories too has gained 3.8%

Ranbaxy Laboratories has gained 3.8% to Rs 543, its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to manufacture and sell generic Diovan in the US.

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TOP CORPORATE NEWS

·        Power Grid up 1%, to invest Rs 5500 cr for upgradation

Shares of Power Grid were up over 1 percent as it is going aggressive in its investment plans. In a board meeting, the central transmission utility has approved investing Rs 5,500 crore. 

                                                                                        

·        Jindal Steel bags Tata-Aldesa order

Jindal Steel and Power Ltd has won a large order to supply around 88,000 tonnes of long rails to the Tata–Aldesa joint venture for use in the Eastern Dedicated Freight Corridor.

·        ITC recovers after Monday's slide

ITC rose 2.29% by reports that Union health minister has urged Finance Minister to raise tax on cigarettes in upcoming Union Budget for 2014-15.

·        IRB Infra inks Rs 2,300 cr pact with NHAI for Haryana road

IRB Infrastructure has entered into a pact with National Highways Authority of India (NHAI) for a Rs 2,300 crore project for widening of a highway stretch in Haryana under National Highways Development Project.

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TOP CORPORATE NEWS

·        Zee Entertainment up 6.5%, RBI allows 100% FII investment

Shares of Zee Entertainment Enterprises gained as much as 6.5 percent after the Reserve Bank of India allowed 100 percent investment by foreign institutional investors.

                                                                                                        

·        Metal shares gain after positive China signals

Metal shares such as JSW steel, Jindal steel, Tata steel firmed up on hopes of improvement in export demand after encouraging manufacturing data from China which recorded its fastest growth in May. China's official PMI of manufacturing activity in May was up at 50.8, a five-month high, compared with 50.4 in March.

·        Eicher Motors jumps after robust motorcycle sales in May

Eicher Motors jumped 4.39% after the company reported 86% rise in total motorcycle sales to 25,011 units in May 2014 over May 2013.

·        Cox & Kings sells camping business for Rs 892 crore

Cox & Kings has exited the camping business in Europe, selling the segment held by its subsidiary to French travel company Homair Vacances for about Rs 892 crore. Cox & Kings said it would use the proceeds to retire a portion of its Rs 4,200 crore debt before maturity.

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INDIAN EQUITY MARKET WRAP UP-13 May 2014

INDIAN BENCHMARKS end at record highs… Nifty ends above 7,100.
 
INDIAN EQUITY BENCHMARKS ended at record closing highs for the third straight session as exit polls showed that the BJP-led NDA is set to form a stable government and set the reforms process in motion to stimulate growth.

Further, Dr Reddy’s Laboratories dipped 4%, after reporting a lower-than-expected 15.6% year on year drop in consolidated net profit at Rs 482 crore for the quarter ended March 31, 2014, mainly due to higher operating expenses. Punjab National Bank ended down 4.1% after the bank reported a 28.69% decline in net profit at Rs 806.35 crore for the quarter ended March 31, because of higher provisioning for bad loans.

The crucial resistance for Nifty is now seen at 7160 and above this 7200. Support for the immediate term is now placed at 7060 and next support will be 7000.

NEWS TO WATCH:
Watch out for the quarterly earnings of Tata Steel, Asian Paints, Tech Mahindra, and Mphasis on 14TH May 2014.  

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TOP CORPORATE NEWS-13 May 2014

Aurobindo Pharma hits new high
Aurobindo Pharma has surged 5% after the company said the Andhra Pradesh High Court has approved the deal between the company and its wholly-owned subsidiary Curepro Parenterals.

Adani group shares rally on exit poll results
Adani Group companies such as Adani Enterprises, Adani Ports and Special Economic Zone and Adani Power are, trading higher by up to 10% each, after exit polls showed that the Narendra Modi-led NDA could probably win the most seats in national parliamentary elections.

Bank of Baroda gains after robust Q4 numbers
Bank of Baroda gained over 5% after it announced a healthy set of Q4 numbers. The bank reported an uptick of 12.5% in its net profit of Rs 1,157 crore compared to Rs 1,028 crore in the year ago quarter.

Tata Steel plans to raise $1.24 bn
Tata Steel is planning to raise $1.24 bn overseas through the sale of bonds by one of its Singapore entities. This move is part of $7 bn debt refinancing initiative for Tata Steel Europe.

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COMMODITY MARKET LEVELS-13 May 2014

AGRI COMMODITY

CS CHANA (JUNE) OVERVIEW:

TREND BEARISH

SUP1:2995

SUP2:2950

RESIST1:3115

RESIST2:3200

TRADING STRATEGY: SELL ON RISE

CS JEERA (JUNE) OVERVIEW:

TREND CONSOLIDATE

SUP1:10760

SUP2:10500

RESIST1:11465

RESIST2:11670

TRADING STRATEGY: BUY ON DIPS

CS TURMERIC (JUNE) OVERVIEW:

TREND CONSOLIDATE

SUP1:6470

SUP2:6200

RESIST1:6890

RESIST2:6970

TRADING STRATEGY: SELL ON RISE

CS SOYABEAN (JUNE) OVERVIEW:

TREND CONSOLIDATE

SUP1:4640

SUP2:4505

RESIST1:4820

RESIST2:4870

TRADING STRATEGY: BUY ON DIPS

BULLION COMMODITY

CS COPPER (JUNE) OVERVIEW:

TREND CONSOLIDATE

SUP1: 414

SUP2:407

RESIST1:420

RESIST2:424

TRADING STRATEGY: BUY ON DIPS

CS CRUDE (MAY) OVERVIEW:

TREND CONSOLIDATE

SUP1:5930

SUP2:5825

RESIST1:6140

RESIST2:6205

TRADING STRATEGY: BUY ON DIPS

CS GOLD (JUNE) OVERVIEW:

TREND CONSOLIDATE

SUP1:28200

SUP2:28000

RESIST1:28800

RESIST2:29100

TRADING STRATEGY: SELL ON RISE

CS SILVER (JULY) OVERVIEW:

TREND CONSOLIDATE

SUP1:40500

SUP2:39900

RESIST1:42380

RESIST2:43000

TRADING STRATEGY: SELL ON RISE

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COMMODITY MARKET TREND-13 May 2014

BASE METAL WRAP: Nickel climbed for a sixth day to trade near a 27-month high as Vale SA said operations remain halted at a plant in New Caledonia, further crimping supply that’s been hit by Indonesia’s ban on ore exports.

ENERGY WRAP: West Texas Intermediate traded near a three-day high amid speculation that crude stockpiles declined a second week in the U.S., the world’s biggest oil consumer. Brent was steady in London.

PRECIOUS METAL WRAP: Gold held above the lowest level in more than a week as investors weighed the dollar’s strength against escalating tension in Ukraine.

GLOBAL EVENTS TO WATCH: Industrial Production y/y, German ZEW Economic Sentiment, Annual Budget Release, NFIB Small Business Index, Core Retail Sales m/m, Retail Sales m/m, Import Prices m/m, Business Inventories m/m.

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TOP FIVE BUZZING STOCKS

IRB INFRA

TREND: BULLISH

SUPPORT: 132

RESISTANCE: 158

COAL INDIA

TREND: BULLISH

SUPPORT: 309

RESISTANCE: 337

BIOCON

TREND: BEARISH

SUPPORT: 452

RESISTANCE: 476

TORRENT POWER

TREND: BULLISH

SUPPORT: 120

RESISTANCE: 147

RANBAXY

TREND: BEARISH

SUPPORT: 448

RESISTANCE: 465

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ROCKING PERFORMANCE OF THE DAY

STOCK FUTURES:

FUTURES INTRADAY:

VOLTAS LTD FUTURES BUY CALL 2 TG

APOLLO TYRE FUTURES BUY CALL 2 TG

AMBUJA CEMENT FUTURES BUY CALL 2 TG

PREMIUM FUTURES:

JAIN IRRIGATION FUTURES BUY CALL 2 TG

BANK OF INDIA FUTURES BUY CALL 1 TG (BOOKED AT 255.85)

HIND PETRO FUTURES BUY CALL SL TRIGGERED

NIFTY FUTURES:

NIFTY FUTURES BUY CALL 3 TG

OPTION:

COAL INDIA 320 CALL BUY CALL 3 TG

OPTION PREMIUM:

STOCK CASH:

STOCK CASH INTRADY:

GUJARAT GAS BUY CALL 3 TG

IRB INFRA BUY CALL 3 TG

LIC HSG FINANCE BUY CALL SL TRIGGERED

STOCK CASH PREMIUM:

JP ASSOCIATE BUY CALL BOOKED AT 61.50 

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