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Friday, 22 July 2016

22 July 2016 - Views & News

MARKET VIEW

Indian markets are likely to open on flattish note based on global cues. However, the markets have been choppy and seem to be consolidating in the range.

Nifty Spot Levels 

Support 8476 – 8440 
Resistance 8545 - 8595

MARKET UPDATE

Sgx Nifty +7 pts  ‎Dow -77.80 pts ,Nsdq -16.03 pts , S&P -7.85 pts ‎, Bovespa +63 pts , Ftse -29 pts , Dax +14 pts  , Cac -3 pts , Nikkei  -144 pts , now, Crude @ $44.69 brl (-0.06), Brent @ $46.20 brl (-0.97) , Gold @ $1332.90 (+1.90), Silver @ $19.85 (+0.03), Euro @ $1.1032, JPY @ $105.8100, INR @ $67.1775

GLOBAL MARKET UPDATE

Wall Street cooled off on Thursday as disappointing quarterly reports from tech stalwart Intel and from transportation companies stalled momentum in a US corporate earnings season that has been better than feared. 
The Dow Jones industrial average fell 77.8 points, or 0.42 percent, to 18,517.23, the S&P 500 lost 7.85 points, or 0.36 percent, to 2,165.17 and the Nasdaq Composite dropped 16.03 points, or 0.31 percent, to 5,073.90.

Today's Corporate Action 22nd July  Ex Date

ADORFO Dividend - Rs. - 3.5000
BENGALT Dividend - Rs. - 0.5000
NIITTECH Dividend - Rs. - 10.0000
SUPER Dividend - Rs. - 2.5000
UFLEX Dividend - Rs. - 3.2000
WONDERLA Final Dividend - Rs. - 0.5000
ZANMOLTR Dividend - Rs. - 4.0000
Today's Key Result 22nd July 

Axis Bank ( Est Net 1991 Cr +1% Yoy)
Federal Bank ( Est Net 163 Cr +16% Yoy)
M&M Fin(Est Net 130 Cr +21 % Yoy)
Atul Ltd,Equitas Hold,Hinduja Vent,L&T Fin,Parry Inds,Praj Inds,Rallis, Rane Madras, Sanofi Ind,TIL,Vijaya Bank
Srcs-Cogencis
TOP NEWS

ITC Q1FY2017 results – Revenues grew by 8.3%yoy to Rs13253.1crore and the PAT grew by 10% at Rs2384.7crore (in-line with our expectation); the core cigarette business sales volume growth stood at ~3.5% largely in-line with street expectation of 2-4% growth (higher sales of low price regular size cigarettes affected the realisation growth in the backdrop of 5-6% price hikes implemented by the company); the non –cigarette FMCG business grew by 9.5% driven by double digit growth in the foods and personal care segment

RBI allows banks to apply additional 1% of GSecs under LCR – sentimentally positive

The Reserve Bank of India relaxed Basel-III mandated liquidity coverage ratios (LCR) for banks, allowing banks to apply an additional one percentage point of the deposits they currently hold as government bonds under their statutory liquidity ratios (SLR).  Banks can now apply up to 11% of their deposit base held as SLR — or government securities that banks must hold with the RBI — from 10% earlier when calculating their liquidity coverage ratios to meet Basel III requirements.

OTHER NEWS

L&T's hydrocarbon subsidiary won a large gas field project in Saudi Arabia; Positive                                                    
L&T Hydrocarbon-led consortium bags (Rs 10700 crore) $1.6 billion order from Aramco, Saudi Arabia. The contract is for development of second phase of Hasbah Offshore Gas Field situated off the coast of Saudi Arabia. L&T's share in the contract is 60% and the project is scheduled to be completed over three and half years.

BHEL and NHPC entered into a pact for undertaking hydro power projects in overseas markets. As per the MOU, NHPC and BHEL will look after the civil and electro mechanical packages respectively.

Power Grid Corporation has approved 11 projects worth investment of Rs 2,731 crore. Positive for power grid as well as EPC players like Kalapataru, KEC and tower suppliers like Skipper.

Tyre industry: Truck radial tyres imports continue to surge; grow 40% during Q1FY17 impacting domestic tyre players MRF, Apollo Tyres, JK Tyres and Ceat 
Imports of truck and bus radial (TBR) tyres surged 40% during April-June 2016, while those of passenger car radials increased 22%. Dumping of radial tyres has reached unprecedented levels with the Imports reaching 1.5 lakh units a month from an average 1lakh units in fiscal 2016. Imports are increasing at a time when fresh domestic capacity, set up with an investment of Rs 25,000 crore in the past three to four years, is getting commissioned. According to ATMA, capacity utilization of domestic players has now come down to 60-65% from 80-85% in 2014-15. Currently 40% of the replacement demand in TBR industry is being met by imports while domestic capacities are faced with the prospects of ever declining utilization. While the domestic players have applied for imposition of anti dumping duty on tyre imports from China, Central government decision is still awaited.

IL&FS Transportation Networks – The company has filed an application with SEBI to raise funds through an Infrastructure Investment Trusts (InvITs). The development is positive read thru for the stock.
 OTHER NEWS

ONGC should merge with a refiner like IOC: Director
New RBI chief will face stubborn old foe: rural inflation
Sebi may help in govt's recap plans for PSU banks
US warns against devaluation ahead of G20 meet
Corporate debt demand to swell to $62tn by 2020'
RBI relaxes rule for Basel III liquidity coverage ratio
'India's external debt of $474 billion forms 16% of APAC borrowing'
Greenko closes in on SunEdison India assets
ITC posts 10% rise in Q1 profit amid sluggish demand conditions
India link emerges in $3.5-bn forex trading fraud at HSBC
Sebi to finalise options in commodities today
Proposal for mandatory Ulip fund investments into G-Secs dropped
Reliance Jio's 4G rollout in next three months: CLSA
OVL raises $1 billion through dollar bonds for Vankor stake buy
ONGC Videsh arm raises $1 b through unsecured notes 
JSW Energy ready for more acquisitions: Jindal
Hindalco consolidated Q1 net dips 95% to Rs. 44.80 cr 
Gujarat cotton growers sound pink bollworm alert
CII infra panel urges govt to fast-track Kelkar report proposals
Transition from rural to urban will be a key challenge: Debroy
Flipkart, Amazon, Jabong tweak models to fit new FDI rules
HDFC Bank Q1 profit rises 20.15% to Rs3,238.91 crore on higher income
Advanced Enzyme IPO subscribed 4.27 times on Day 2
Cairn India working on merger with Vedanta: Navin Agarwal
State Bank of Bikaner and Jaipur Q1 loss at Rs221.56 crore           
RBI to monitor banks on customer rights
Cairn India Q1 net falls 28 per cent on oil price slump
Silver slips below Rs 46,000, down Rs 1,020/kg on global trend
Japan preparing $190 billion stimulus, govt spending less than half that: Sources
HDFC Bank says ‘comfortable’ with higher bad loans in Q1
L&T Infotech makes weak market debut
India economic growth to remain solid: Reuters poll
Ashok Leyland net profit doubles, revenue up 10%
Little impact of Brexit in long-term: Nasscom

STOCK IN NEWS 
  • Indian firms to raise $5-bn forex loans 
  • Durables makers expect better festive season sales this year 
  • Cairn India to invest in existing projects 
  • Biocon Q1 profit up 34.45% to Rs 166.6 cr 
  • Ashok Leyland to embrace digital, data-driven wave 
  • Lanco makes last-ditch effort to avoid strategic debt restructuring 
  • Kwid and Redi-GO on different growth tracks 
  • Unilever tops sales forecast, but sees markets worsening 
  • Reliance Jio's 4G rollout in next three months: CLSA 
  • Ford Motor Company setting up R&D Centre in Tamil Nadu 
  • OVL raises $1 billion through dollar bonds for Vankor stake buy 
  • Power generation utilities owe Rs 12,028 crore to Coal India 
  • PVR plans to raise up to Rs 250 crore via NCDs.

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