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Tuesday, 26 July 2016

26 July 2016 - Views & News

MARKET VIEW

Indian markets are likely to open flat to negative. Given that the Index has given a breakout above 8595, we have revised our short-term and medium-term target to 8750 and 8850, respectively.

Nifty Spot Levels

Support 8595 – 8540 – 8476
Resistance 8654 – 8700 - 8750

MARKET UPDATE

Sgx Nifty -18 pts ‎Dow -77.79 pts ,Nsdq -2.53 pts , S&P -6.55 pts ‎, Bovespa -129 pts , Ftse -20 pts , Dax +50 pts  , Cac +6 pts , Nikkei  -238 pts , now, Crude @ $43.24 brl (+0.11), Brent @ $44.72 brl (-0.97) , Gold @ $1314.60 (-4.90), Silver @ $19.55 (-0.10), Euro @ $1.0991, JPY @ $105.6100, INR @ $67.3537

GLOBAL MARKET UPDATE

• Wall Street declines as earnings take center stage The Dow Jones industrial average dipped 0.42 percent to end at 18,493.06 points and the S&P 500 lost 0.3 percent to 2,168.48.
• US stocks receded from record highs on Monday as oil weighed on energy shares and investors awaited an avalanche of quarterly reports.
• Japanese stocks led losses in Asia markets on Tuesday, dragged by fresh strength in the yen after a local media report indicated the government's highly anticipated stimulus package may not live up to expectations.

Today's Corporate Action 26th July  Ex Date

BERGEPAINT Final Dividend - Rs. - 1.0000BRIGHTBR Final Dividend - Rs. - 2.0000
EMAMILTD Dividend - Rs. - 7.0000
ENIL Dividend - Rs. - 1.0000GATI Final Dividend - Rs. - 1.0000GSKCONS Dividend - Rs. - 70.0000
HAWKINCOOK Dividend - Rs. - 60.0000
JKCEMENT Dividend - Rs. - 4.0000
LLOYDSME Stock  Split From Rs.2/- to Rs.1/-
MCLEODRUSS Dividend - Rs. - 2.0000
MODEX Interim Dividend - Rs. - 0.6000
NITTAGELA Dividend - Rs. - 2.5000
PTL Dividend - Rs. - 1.0000RAUNAQEPC Final Dividend - Rs. - 1.2000

Today's Key Result 26th July 

Maruti (1226 Cr +3% Yoy Time - During Mkt )
Acc ( Cons 255 Cr +91% Yoy Time - During Mkt )
Dr Reddy ( Cons 484 Cr -23% Yoy Time - During Mkt )
Amb Cem ( 335 Cr +48% Yoy Time - After Mkt )
Bharti Infratel ( Cons 634 Cr -10% Yoy Time - After Mkt )
Zee Ent ( 281 Cr +15% Yoy Time - After Mkt )
Ajanta Pharma ( 100 Cr + 20 % Yoy)
Bajaj Finance ( 378 Cr + 37% Yoy)
Bajaj Finserv (529 Cr +38% Yoy)
Idfc ( Cons 184 Cr -28% Yoy)
Karur Vysya ( 140 Cr + 4% Yoy)
Tvs Motor ( 124 Cr + 38% Yoy)
Astec Life, Coromandel Int,Elecon Eng,Excel Inds,Fsl,Idfc Bank,Ingersoll Rand,Mahindra Cie,Niit Ltd, PI Inds,Swaraj Eng,Symphony,Tata Elxsi, Welspun Ind  Srcs-Cogencis Est Net
TOP NEWS

IndusInd Bank: As per media reports IndusInd Bank is in talks to buy 5% stake in Bharat Financial Inclusion at Rs 850/share – Positive read thru

PNC Infratech Limited bags Rs233 crore PWD road project in UP – Positive for the stock
PNC Infratech Limited has been awarded a project involving four laning of Etah to Kasganj road in Uttar Pradesh for a contract value of Rs. 232.91 crore on EPC basis. The company’s order book now stands at over Rs. 5400 crores. The development is positive for the stock. 

SPARC (Sun Pharma Advanced Research) has scheduled a concall on August 4 to take investors through their research folio (both NCE and NDDS) – Positive; transparency to boost investor interest

FUND RAISING

IDBI Bank plans to raise Rs 28,000 cr out of which Rs8000 cr would be raised through equity and Rs 20000 cr via debt

Sintex Industries board meeting on 28 july 2016 to consider rights issue and NCDs worth Rs1000cr
STRONG RESULT

Tata Sponge reported a PAT of Rs 10.53 crore in Q1FY2017, against Rs 6.8 crore in Q1FY2016, despite dip in revenue owing to lower raw material cost and better volume. Power segment has contributed majority of the profit.

OTHER NEWS

Bajaj Auto to ramp up production of “V” motorcycle on strong demand 
Bajaj Auto will ramp up production of motorcycle “V” starting September 2016 to meet demand. “V” which was introduced in March this year has witnessed strong demand with the company already selling 100,000 units of the bike in the last four months. The bike has helped Bajaj Auto to increase its overall market share in the premium commuter 125cc+ segment by 10%

Mahindra & Mahindra plans two-pronged strategy to fuel growth
Mahindra & Mahindra Ltd is devising a two-pronged strategy to strengthen its brands’ presence and also make inroads with its latest range of products this year. The proposed strategy involves both urban and rural markets as it expects strong growth this year, helped by a favourable monsoon and from sales of its new products. As per the company, it would entrench itself (enhance distribution network) in upcountry rural India with existing strong brands like Bolero and Scorpio and make new inroads with brands like TUV 300 and KUV 100. In urban centres, it plans to use the latest portfolio of products to target new range of customers. As per the company FY17 is likely to see strong sales for the company as it would have the benefit of a full year of all the new products launches last year.

Maruti Suzuki India planning to transport vehicles via inland waterways to save on logistics cost-positive read thru
Maruti Suzuki India is planning to transport vehicles through inland waterways and has inked a pact with the government for this, a move that will help reduce its logistic costs. A Memorandum of Understanding (MoU) has been signed between Inland Waterways Authority of India (IWAI) and Maruti Suzuki India Ltd for transportation of cars through inland vessels. As per expert estimates, Water transportation cost is barely 50 paise a km in comparison to Rs 1 by railways and Rs 1.5 per km through roads.

Road Sector – Nitin Gadkari in Rajya Sabha highlighted that about Rs7 lakh crore would be spent to develop around 50,000km of national highways over the next five years. The development is positive read thru for IRB Infrastructure, L&T, IL&FS Transporation, Ashoka Buildcon, Sadbhav Engineering, KNR constructions, Gayatri Projects among others.

GAIL India is in talks with Russia's Gazprom to delay and renegotiate a 20-year gas purchase deal undercut by low spot prices. Shipments under the deal, initially expected to start in 2018/2019 and prices are linked to crude oil prices which are rising while gas prices are expected to stay subdued for longer. 

MORE NEWS

'India to renegotiate all bilateral investment pacts'
Rajan in RBI would have helped India: Subbarao
Modi govt plans mother of all oil companies 
Merger credit positive for Vedanta: Moody's
Breach of terms led to debt default: Kingfisher
US asks India to eliminate customs duties on ICT products
SBI, IOC link up to empower farmers
Scrapping of inter-state trade tax under scanner
RBI fines BoB, HDFC Bank & PNB for violating KYC norms
Jaitley to meet state ministers to push GST bill
Telecom Commission sticks to its model for calculating SUC
CBDT issues draft norms for taxing buy back of unlisted shares
Sebi to set stringent norms for non-compliant promoters
ED probing 81 FDI cases over Fema violation: Sitharaman
Verizon confirms Yahoo buy; deal valued at $4.83 bn
BSE to begin bonds trading based on clean price mechanism 
MF folio count rises 12.61 lakh to 4.9 cr in June quarter
Rupee drops 27 paise to end at 67.35
M&M chooses TVS & Sons for Chennai dealership expansion
GAIL seeks to defer Gazprom LNG contract
Amtek said to expand asset sale to include all overseas units
New solar projects may benefit from falling component prices
Indian Railways plans to load up more debt than GDP of some nations
Quikr acquires Hiree to boost job listings business           
Sensex gains 292 points to close above 28,000; Nifty settles above 8,630
Govt to soon notify inflation target under framework agreement
Bajaj Corp Q1 profit up 10% to Rs 52.19 cr
India to renegotiate all bilateral investment pacts: Nirmala Sitharaman
RBI imposes penalty of Rs 5 cr on BoB
P-Notes investment hit two-year low in June-end
Oil prices dip on oversupply, economic headwinds
Govt to provide benefits to small tea growers
Algo trades in stagnation mode
RXIL looking to rope in SBI, ICICI as equity partners

STOCK IN NEWS 

1. Telcos install 48,000 towers in 45 days to tackle call drops
2. Maruti planning to transport vehicles via inland waterways
3. Ultratech Cement plans to raise Rs 300 crore via NCDs
4. Cairn-Vedanta merger to happen by 2016-end: Anil Agarwal
5. IDBI Bank plans to raise Rs 28,000 crore via equity, debt
6. Muthoot launches recycling hub in Bengaluru; to open more stores
7. Thomas Cook India inks pact with Matrimony Bazaar
8. Ahluwalia Contracts bags Rs 473 crore construction order

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