MARKET UPDATE
The Nifty is likely to open on positive note followed by Asian markets. Nifty may cross all time high today. The next resistance level for Nifty will be 10244 with support level at 10000.
Nifty Spot Levels
Support 10000 – 9913 – 9861
Resistance 10137 – 10186 - 10244
GLOBAL MARKET
• Wall Street reached record highs on Friday, with the S&P 500 surpassing 2,500 points as telecommunications shares rose and technology bounced back after two days of declines.
• Wall Street largely shrugged off reports showing an unexpected drop in US retail sales last month and the first drop in industrial output since January.
•The Dow Jones Industrial Average rose 0.29 percent to end at 22,268.34 points.
MARKET UPDATE
Sgx Nifty +41 pts Dow +64.86 pts ,Nsdq +19.18 pts , S&P+4.61 pts Bovespa +1099 pts , Ftse -79 pts , Dax -21 pts , Cac -11 pts , Nikkei Clsd , Crude @ $50.35 brl (-0.09), Brent @ $55.51 brl (+0.04) , Gold @ 1320.57 (-4.63), Silver @ $17.611 (-0.09), Euro @ $1.935, JPY @ $111.2200, INR @ $64.130
Today's Corporate Action 18th Sep Ex Date
GALLISPAT Dividend - Rs. - 0.5000
AARTIIND Final Dividend - Rs. - 1.0000
ALANKIT Final Dividend - Rs. - 0.1000
ALICON Final Dividend - Rs. - 4.2500
ARROWTEX Dividend - Rs. - 1.5000
BASANTGL Dividend - Rs. - 0.0500
BLISSGVS Dividend - Rs. - 0.6000
BSL Dividend - Rs. - 1.2000
FLUIDOM Dividend - Rs. - 1.7500
GRAUWEIL Dividend - Rs. - 0.4000
HBLPOWER Dividend - Rs. - 0.2500
HIGHGROUND Dividend - Rs. - 0.1000
IGL Final Dividend - Rs. - 5.0000
INTRGLB Dividend - Rs. - 0.5000
JAYUSH Dividend - Rs. - 2.0000
KAMDHENU Dividend - Rs. - 0.8000
LEEL Final Dividend - Rs. - 1.5000
PHOENIXLTD Final Dividend - Rs. - 2.4000
PIXTRANS Final Dividend - Rs. - 2.0000
POLYSPIN Final Dividend - Rs. - 1.2000
RAIREKMOH Dividend - Rs. - 0.1000
RISHDIGA Final Dividend - Rs. - 1.5000
RUBYMILLS Dividend - Rs. - 1.7500
SANDUMA Special Dividend - Rs. - 2.0000
SEINV Final Dividend - Rs. - 1.0000
SETCO Dividend - Rs. - 0.6500
SHAKTIPUMP Dividend - Rs. - 2.0000
SIGNETIND Dividend - Rs. - 0.0500
SUNPHARMA Dividend - Rs. - 3.5000
VAMA Final Dividend - Rs. - 0.1000
WINDMACHIN Dividend - Rs. - 0.7500
TOP NEWS
Tyres: International rubber prices (Tokyo rubber futures)
dropped 3%. The rubber prices are trading at 2 week lows. Positive for MRF, JK
tyres, Apollo Tyres and Ceat
Petronet LNG: Management expects Kochi terminal to operate at
40% utilization by December-2018 with likely completion of Kochi- Mangaluru
pipeline section; positive read through
Petronet LNG Ltd (PLNG) expects
its 5mtpa Kochi re-gas terminal to operate at over 40% utilization rate by
December-2018 (vs 15% utilization rate currently) as GAIL is expected to
complete the Kochi to Mangaluru pipeline section by December-2018 – positive
read through for PLNG.
Dr Reddy: USFDA audit of API plant in UK facility reported three
observations with form 483 – Negative for Dr Reddy.
Cadila: Received USFDA approval for Modafinil tablets (used to
improve wakefulness) & Solifenacin Succinate tablets (used to treat
overactive bladder). Both the drugs will be manufactured at the group’s
formulation manufacturing facility at Ahmedabad Pharma SEZ – Positive read-thru
Maruti Suzuki: targets 20% volume contribution from premium Nexa
showrooms in FY18 from 15% currently – positive…(details in other news)
TVS Motors: working towards launching electric two wheelers
soon. The company is in the process of developing an electric scooter and a
motorcycle. Positive read thru
Oil & gas: BPCL likely to acquire government's majority
stake in GAIL for Rs18,000-20,000 crore; Positive read through GAIL but
sentimentally negative for BPCL
Bharat
Petroleum Corp (BPCL) is in talks with GAIL (India) to acquire government's
majority stake in it for around Rs18,000-20,000 crore as per media reports. The
quoted valuation price as per media reports is at 0-8% premium to GAIL’s last
closing price - Positive read through GAIL but sentimentally negative for BPCL
(due to slight premium to acquire government’s majority stake in GAIL).
Scooters India: is planning to launch an electric three-wheeler
in the next six months. The company is also looking at exporting three-wheelers
to neighbouring countries. Currently, Scooters India holds the majority of
the market share in the 1+6 three-wheeler segment, under the brand Vikram, with
around 90% of the total 12,000-15,000 units market. It has a capacity of
producing 12,500 units a year in a single shift.
OTHER NEWS
Restaurants: Hardcastle, Jubilant Foodworks, Speciality
Restaurant, Moon Beverages, Lite Bite keen to partner McDonald’s – long term
positive for Jubilant Foodworks as it has expertise in Quick Service
Restaurants, but it will add to the cost in the near term
As
per media reports, five leading restaurant and foods firms have either written
to McDonald’s or evinced interest in the US burger chain’s north and east
business as potential franchise partners, even as its prolonged legal battle
with estranged partner Vikram Bakshi-led Connaught Plaza Restaurants Ltd (CPRL)
continues. Speciality Restaurants, which owns fine-dining brands Mainland China
and Oh! Calcutta; Jubilant FoodWorks, which operates well known global brands
Domino’s Pizza and Dunkin Donuts and Coca-Cola’s largest Indian franchise
bottler Moon Beverages, Lite Bite Foods, promoter of brands such as Punjab
Grill and Asia Seven are among those keen on partnering McDonald’s.
Oil & gas: MRPL likely to merged with HPCL post ONGC-HPCL
deal; positive read through for HPCL and MRPL
Hindustan
Petroleum Corp (HPCL) management has indicated likely merger of MRPL post the
ONGC-HPCL deal is completed. We highlight here that ONGC is promoter of MRPL
with 71.63% stake and HPCL also owns 16.96% stake in MRPL – positive read
through for HPCL and MRPL.
Aditya Birla Fashion & Retail: Simon Carter enters India via tie-up with the company –
positive read through for the stock
Simon
Carter announced its foray into the India market through an exclusive
partnership with Aditya Birla Fashion Retail (ABFRL). ABFRL had in May last
year signed a licensing agreement to bring the London- based designer brand to
India. The brand, which launched its store in Mumbai, plans to open 10 more
outlets in cities, including Bengaluru, Chennai, Mumbai, Delhi, Pune and
Chandigarh by the end of FY18. Simon Carter's product range comprises of suits,
jackets, shirts, blazers, jewellery and accesories for men, among others. ABFRL
sees this brand to be about Rs 250-300 crore in the next three years.
Maruti Suzuki: targets 20% volume contribution from premium Nexa
showrooms in FY18 from 15% currently; positive
Maruti expects to sell 300,000 units
from Nexa in FY18, thus upping the premium showroom’s total share in the
company’s overall sales volume to 20%. In FY17, Maruti achieved 15% of its
total sales in volume terms from Nexa, three years ahead of schedule. In value
terms, the contribution of high-end vehicles, which are retailed
through Nexa showrooms, is expected to be around 30-33% as against 25%
currently. The premium distribution network strategy for bigger cars has worked
well for Maruti and has been one of key factors in establishing Maruti brand
for larger cars
ITC:
plans to 40 new hotels with 5,000 rooms in pipeline –
positive read through for ITC Hotel’s business
ITC plans to open 40 new hotels, adding around 5,000 rooms
over a period of time, as part of the strategy to strengthen its hospitality
business. The company is working on
opening 10 new hotels in the next three and half years under its ongoing
expansion programme across different verticals entailing overall investment of Rs. 25,000 crore. The upcoming ITC hotels are
in Kolkata, Hyderabad, Ahmedabad and Srinagar while another four will be under
Welcom Hotels brand at Coimbatore, Bhubaneswar, Guntur and Amritsar. The
Colombo property is ITC’s first overseas project and is being undertaken by a
wholly-owned subsidiary in Sri Lanka.
UPL: wins in UK High Court against toll
manufacturers, positive read-thru
UPL has won case against UK toll
manufacturers in UK High court regarding illegal production of herbicides of
Metafol also known as Bettix. Bettix is UPL’s authorized herbicide which contains
700 grams per litre of the active substance metamitron used for the treatment
of sugar beet in EU markets. This is positive development as Europe contributes
~13% to UPL’s revenues and reported growth of ~12% in FY17.
Tata Motors: to launch compact SUV Nexon on 21st September 2017.
With the launch of the Nexon Tata Motors is eyeing for a 3-4th spot in the
utility vehicle space from 7th currently in 1-2 years time frame. UV is the
fastest growing PV segment forming 29% of overall market Positive read thru.
Tata Motors: to invest Rs 1500 crs per year in the CV business
to develop new products. Also the company has indicated to consolidate its
market share up from 43% now and plans to outpace the CV industry for FY2018.
This points towards a strong double digit growth (more than 15%) for the
9MFY2018 as against a sharp drop registered in Q1FY218. Apart from domestic
market, company is also tapping new export markets to drive growth. Strong
agricultural income, govt spending on infrastructure and ban on overloading is
driving growth in CV sales. Positive read thru
Bank of India: The board of Bank of India is examining the
possibility of merger with other banks, based on the kind of synergy in
business. However, the bank is in the process of strengthening its systems and
processes before exploring merger possibilities – Neutral read thru
General Insurance Sector: As per media reports, Out of the five
state-owned general insurance companies, New India Assurance (NIA) and GIC Re
are gearing up to hit the capital market over the next few weeks – Positive
read thru as the sector will be in focus, will also result in Govt raising over
Rs 15,000 crore from the IPO
HDFC Ltd: HDFC Life's initial public offering (IPO) is likely to
get pushed to the third quarter (October-December) of the fiscal – Neutral Read
thru for HDFC Ltd.
Federal Bank: The company looks to find strategic partner for
its wholly own subsidiary FedBank Financial Services - Positive read thru
for Federal Bank
L&T, Tata Power, Tech Mahindra ,TCS & HPL electric:
stock in focus as they fray for smart meter tenders
Vodafone,
TCS, Larsen & Toubro, Tech Mahindra, Tata Power and France’s EDF are eyeing
government’s purchase of 50 lakh smart meters, which will give them access to
big data on power consumption and create a market for 50 lakh SIM cards for
connecting the devices. Forty companies, which also include equipment makers
and trade bodies, have held discussions with Energy Efficiency Services (EESL),
which has tendered for 50 lakh smart meters in Uttar Pradesh and Haryana in the
first phase as part of the smart-grid project. Bids are expected next week. The
initial phase will see deployment of 40 lakh smart meters in Uttar Pradesh and
10 lakh in Haryana. Other states like Bihar, Jharkhand, Gujarat and even Delhi
are keen on deploying smart meters. The tender is divided into two parts —
meter procurement and system integration. System integrator will see meter
installation, data storage on cloud, preparing dashboards, among other things.
NTPC: Invites developers to set up 100 waste-to-energy plants
across the country under the Swachh Bharat mission. In order to expedite these
plants, the NTPC would provide land, ensure supply of waste from local bodies
besides giving support in getting regulatory clearances and arranging power
purchase agreements. According to Ministry of New and Renewable Energy
estimates, the solid waste generated from cities/towns in India has a potential
to generate power of approximately 500 MW, which can be enhanced to 1,075 MW by
2031 and further to 2,780 MW by 2050.
NBCC to be focus: Government to sell Air India properties owned
by them
The
government has decided to sell some of Air India’s real estate directly to
expedite the Air India’s divestment. This follows the discovery that some of
the assets are not owned by the carrier but on a 99-year lease from the
government. We believe NBCC to act as project management consultant and earn
PMC fees which would help to augment its earnings. Positive
MORE NEWS
Government to sell Air India properties owned by them
HPCL plans Rs 61,000 crore investment in 5 years
CAD seen at 1.2-1.3 per cent of GDP in FY18: Icra
Tata Motors plans to breathe fresh life into its PV portfolio
Just two bidders for Rs 37k cr Aamby Valley auction
Gold imports jump three-fold to $15 bn in April-Aug
SES urges Bharti shareholders to reject Telenor deal
Fosun Pharma to buy 74% stake in Gland for $1.09 billion
Drug makers dial foreign regulators on quality issues
Sebi board to take stock of suspected shell cos on Monday
Tata Motors eyes larger share of utility market with SUV Nexon
GSTN reopens composition scheme window for small businesses
Members want preferential treatment in NSE's Rs 10Kcr IPO
Banks to gain as steel sector shows signs of growth
India likely to be 3rd largest economy by 2028: HSBC
Monnet Ispat: IRP calls for expression of interest
CVC to probe govt employees deposits post demonetisation
FPIs pull out Rs. 3,000 cr from stocks in September so far
India-Japan ties set on high growth trajectory
SBI reviewing minimum balance charges for savings accounts
Govt may raise over Rs15,000 crore from share sale of 2 PSU insurers
TVS Motor to roll out electric two-wheelers soon
External debt of India drops 2.7 pct to $471.9 bn, records first such drop in 5 years
Government asks state-owned banks to discuss ways to merge at board level
Bankruptcy board to register 100 more insolvency professionals to add to 940
Indian start-up Kheyti wins prestigious award in Israel
Mergers boost finance sector consolidation
GIC Re IPO next month, over 14% stake dilution can fetch up to Rs 11k cr
Govt to monitor iron ore output
Centre eyes record rabi crop output
RBI may keep policy rate on hold till FY18-end
STOCK IN NEWS
1. Dr Reddys gets Form 483 with 3 observations for API Mirfield Plant in U.K.
2. Mangalam Drugs received final approval from WHO for the drug Emtricitabine
3. Laurus Labs U.S. FDA clears Vizag Unit-2; German Authorities and WHO complete audit
4. Shipping Corporation takes delivery of a secondhand gas container of 53503 DWT capacity
5. Mahanagar Gas commences PNG supply in Dombivali
6. Axis Bank Keeps MCLR unchanged at 8.25 percent
7. Wipro partners with HP to deliver enterprise cloud solutions
8. Balrampur Chini Mills approves investment of Rs 175 crore in education sector over 5 years
9. Tide water Oil Promoter Standard Greases and Specialties acquires 1.74 lakh shares of the company.
10. Sunil Hitech Board decides to refrain from participation in the offer for sale in the proposed IPO of its subsidiary 'SEAM Industries'.
11. Reliance Power Promoters Reliance Wind Turbine Installators pledged 3 crore shares (1.07 percent) to L&T Finance
12. Wipro, Hewlett Packard enterprise to deliver cloud solutions
13. Aircel denies reports on bankruptcy filing
14. Hit Kit forms joint venture for development of resort at Lonavala
15. Circuit Changed: Mirc Electronics (10 percent), Apex Frozen Foods (10 percent)
16. Cadila Health gets U.S. FDA final okay for Oseltamivir powder
17. Asian Granito will launch over 200 new designs with over 30 ranges of new products
18. Gujarat Industries successfully commissioned 80MW PV solar power project at Gujarat Solar Park
19. British designer brand Simon Carter enters India with Aditya Birla Fashion
20. ITC says 40 new hotels with 5,000 rooms in pipeline (PTI)
21. TVS eyes electric two-wheeler space, to roll out products soon (PTI)
22. Tata Elxsi: Ex-date for 1:1 bonus. F&O lot size revised to 800.
23. Tube Investments: Name changed to TI Financial Holdings Ltd.
24. Reliance Defence and Engineering: Name changed to Reliance Naval and Engineering Ltd
25. Specialty Restaurants and Jubilant FoodWorks keen to partner McDonalds (Economic Times)
