}

Friday, 29 July 2016

29 July 2016 - Views & News

MARKET VIEW

Indian markets are likely to open on flattish note based on global market. The bias for the market is positive as long as holding 8489 levels

Nifty Spot Levels 

Support 8630 – 8595
Resistance 8700 - 8750

MARKET UPDATE

Sgx Nifty -2 pts ‎Dow -15.82 pts ,Nsdq +15.17 pts , S&P +3.48 pts ‎, Bovespa -185 pts , Ftse -29 pts , Dax -44 pts  , Cac -26 pts , Nikkei  -57 pts , now, Crude @ $41.02 brl (-0.12), Brent @ $42.70 brl (-0.77) , Gold @ $1342.50 (+1.30), Silver @ $20.22 (+0.02), Euro @ $1.1082, JPY @ $104.7600, INR @ $67.0350

GLOBAL MARKET UPDATE

Wall Street edged higher on Thursday as investors looked beyond disappointing earnings from Ford and bought shares in Apple, while Alphabet surged after the bell following its quarterly report.
A report by the US Labor Department showed that the number of people claiming unemployment benefits rose more than expected to 266,000 for the week ended July 22.
The Dow Jones industrial average edged down 0.09 percent to end at 18,456.35 points.

Today's Corporate Action 29th July  Ex Date

BRITANNIA Dividend - Rs. - 20.0000
CONTROLP Final Dividend - Rs. - 2.0000
DCMSHRIRAM Dividend - Rs. - 0.8000
FEDERALBNK Dividend - Rs. - 0.7000
IL&FSTRANS Dividend - Rs. - 2.0000
IVC Dividend - Rs. - 1.2000
LAKSELEC Dividend - Rs. - 8.0000
SIMPLXREA Dividend - Rs. - 1.0000
SKIPPER Dividend - Rs. - 1.4000
TCPLPACK Dividend - Rs. - 7.3500
ZUARIGLOB Dividend - Rs. - 1.0000

Today's Key Result 29th July

Icici Bank ( 2240 Cr - 25 % Yoy Time - During Mkt )
L&T ( Cons 793 +31% Yoy Time - After Mkt)
Alembic Pharma ( 100 Cr + 44% Yoy)
Godrej Consumer ( 254 Cr +28% Yoy)
Pidilite ( 270 Cr + 20 % Yoy)
Upl Ltd ( Cons 342 Cr + 25 % Yoy)

Aditya Birla Money, Alkyl Amines, Asahi Songwon, Astra Micro, Binani Inds, Ccl Prod, Chola Inv, Cromp Greav Cons Elect, Dr Lal Pathlab,Elgi Equip, Gabriel Ind, Harr Malayalam, Heritage Food,Hester Bio, Indoco Rem, Ion Exchange, Ktk Bank,Kec Int,Kokuyo Camlin, Munjal Showa, Ncl Inds,Nestle, Nirlon,Pudumjee Pulp,Pvr Ltd, Religare Ent, Rico Auto, Shopper Stop, Sun Pharma Advance, Thiru Chem, Uniphos Ent, Vst Till
Srcs-Cogencis Est Net 

TOP NEWS

Reliance Infrastructure – Brookfield has emerged the frontrunner to take over the entire portfolio of 11 road projects of Reliance Infrastructure for an EV of Rs8000 crore as per media news. Both sides have entered into exclusive negotiations and are hoping to sign a definitive sale agreement by next month. The development is positive read thru for Reliance Infrastructure.


STRONG RESULT

CEAT Ltd results - ahead of estimates
Standalone revenue grew 3% to Rs 1,455.8 cr coming ahead of our estimates of Rs 1385 cr. Operating margins declined 290 bps yoy to 12.7% coming in line with our estimates of 12.6%. EBIDTA at Rs 185 cr dipped 16% but was ahead of our estimates of Rs 175 cr. Net Profit at Rs 96 cr was ahead of our estimates of Rs 84 cr. Also, share of profits of Joint ventures at Rs 10.3 cr as better than our estimates of Rs 3 cr. The net profit at consolidated level stood at Rs 104.1 cr which was ahead of our estimates of Rs 86.7 cr.

Tamil Nadu News Print (TNPL) registered strong operating performance in Q1FY2017. The revenues grew by 16.6% on back of strong production and sales of paper and paperboard production. The OPM improved by 275BPS yoy to 22.6% and the operating profit grew by 33%yoy to Rs168.4crore and the PAT grew by 33%yoy to Rs69.5crore. The stock has already seen a decent run-up in the recent past.

WEAK RESULT

GSFC reported a weak set of numbers for Q1FY17. The top line declined 5% YoY to Rs 1082.1 Cr. The revenues from the industrial products segment were lower while fertiliser sales were marginally up. The EBITDA margins contracted 480 BPS YoY to 9%, while the EBITDA was down 37% YoY. On the back of a higher finance cost (Rs 17.9 Cr, up from Rs 4.2 cr as of Q1FY16), the PAT also declined 54% YoY to Rs 46.30 cr.

Ador Welding reported a weak result – PAT declined sharply to Rs 1.34 crore Q1FY2017 against Rs 5.6 crore in Q1FY2016. Higher raw material cost along with decline in revenue pressurized operating margin and the resulted into weak bottomline.

OTHER NEWS

Kesoram Industries plans Rs600 crore capex for tyre, cement divisions – Positive read thru for the stock
Kesoram Industries is planning to spend around Rs600 crore on capital expenditure in FY2017. The company has lined up an investments of Rs350 crore for strengthening its tyre business while about Rs250 crore will be pumped in for its cement division. The Rs600 crore capex would be over and above the Rs500 crore that was already booked for work-in-progress.

JaiPrakash Associates - JP Associates failed to pay principal of Rs33.33cr and interest Rs2.92cr on its NCDs as per media reports. Negative for the stock.

 STOCK IN NEWS 
  • Muthoot Finance Q1 net rises 48% to Rs 270 crore on retail demand 
  • Monsoon advance travel bookings surges by 2.8 times: MakeMyTrip 
  • Japan legal claim threatens Tata assets in UK: Report 
  • Aptech Banking & Finance Academy ties up with Geojit BNP Paribas 
  • NDMC to implement 7th Pay Commission despite financial crunch 
  • Nexa outlets to account for 15% sales by 2020: Maruti 
  • Lloyds plans 3,000 jobs cull, fresh branch closures after Brexit shock 
  • Sun Pharma, Almirall enter pact for psoriasis novel biologic 
  • Kirloskar Ferrous to acquire pig iron plant of VSL Steels 
  • L&T Infotech, GE Digital announce global strategic partnership

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