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Friday, 25 November 2016

25 November 2016 - Views & News

MARKET INSIGHT

Nifty is likely to open on a positive note based on the global cues. Resistance for the day holds at 8025 levels and rupee dollar moment will remain in focus for the day.

Nifty Spot Levels

Support 7938 – 7890
Resistance 8025 - 8060

Market Update

Sgx Nifty +50 pts ‎US Mkt Clsd, Bovespa -590 pts , Ftse +11 pts , Dax +26 pts  , Cac +13 pts , Nikkei  +100 pts now , Crude @ $47.99 brl (+0.03 ), Brent @ $49.00 brl (+0.05) , Gold @ $1185.50 (-3.80), Silver @ $16.42 (-0.06), Euro @ $1.0559, JPY @ $113.2700, INR @ $68.7475

GLOBAL MARKET UPDATE:

• Asian stocks steadied on Friday as the Thanksgiving break in the United States pegged the dollar's relentless surge that had sucked capital out of most emerging markets
• A Trump administration is also expected to boost fiscal spending, inflation and interest rates in the United States, triggering a dramatic surge in US Treasury yields and the dollar, and in turn sending capital out of emerging market economies.
• Wall Street was closed on Thursday for the Thanksgiving holiday and trading will end early on Friday.

Today's Key Result 25th Nov

Balaji Tele,Bata,Beml,Borosil Glass,Hathway Cab,Indo Count Inds, Shilpamedi,Spicejet,Tide Water, Uflex,WaterBase

TOP NEWS

Steel Sector: Government put safeguard duty on certain steel imports, positive for Steel companies

TVS Motors to launch the first motorcycle from the TVS BMW alliance – (Akula 310) by February / March 2017 Positive …….(details in other news)

Jagran Prakashan’s subsidiary Music Broadcast Ltd (MBL) to raise up to Rs 400 crore via IPO, positive read-thru
Jagran Prakashan announced that its subsidiary Music Broadcast Ltd (MBL) will raise up to Rs 400 crore through initial public offer (IPO). MBL operates the popular Radio City FM stations in 21 cities in India

FUND RAISING

Ultratech: The company is proposing to issue Unsecured Redeemable Non-Convertible Debentures amounting to Rs250 crores on private placement basis. The tenure of the issue will be 5 years with a coupon rate of 6.93% per annum

Prism Cement: The Board of Directors of the company will be meeting on November 30, 2016 to consider raising of funds through issue of Secured, Non-convertible Debentures on private placement basis.

State bank of India: SBI has got board approval to issue 21.07 crore equity shares at Rs 269.59 per share (CMP Rs 261.7), on preferential basis to Gol (aggregating to Rs.5681 crores) subject to regulatory approvals, Positive read thru 

OTHER NEWS

LT Foods inks JV with Japanese snacks maker Kameda Seika - positive read through for the stock
LT Foods has inked a 51:49 joint venture with leading Japanese snacking firm Kameda Seika, to sell rice-based snacks in India. LT Foods will infuse a consolidated investment of $10 million in the joint venture in the first phase. The snacks will be available in stores by March-April ’17, and will steer clear of entry-level price points of Rs 5 and 10. Since LT Foods core competence is rice and Kameda is the global leader in rice-based snacks, the opportunity to scale up the business is huge.

TVS Motors to launch the first motorcycle from the TVS BMW alliance – (Akula 310) by February / March 2017 Positive
TVS Motors will launch its first product (under TVS badge named Akula) from the TVS-BMW alliance by February /March 2017. The bike is expected to be priced under Rs 2 lakh, ex-showroom, which will enable it to compete with the KTM RC 390.The TVS Akula 310 is a fully faired version of the street naked BMW G 310 R, which was also showcased at the Auto Expo and is due to be launched in India soon. Although the Akula 310 and the BMW G 310 R are motorcycles of different genres, they share some critical components including the engine, chassis and swing-arm among others. The product is likely to enable TVSM gain foothold into the high margin premium motorcycle segment. Positive

Steel Sector: Government put safeguard duty on certain steel imports, positive for Steel companies
Government has slapped safeguard duty on import of certain steel products to protect domestic manufacturers from cheap in-bound shipments. The safeguard duty has been imposed on import of hot rolled flat sheets and plates (excluding hot rolled flat products in coil form) of alloy or non-alloy steel.The effective duty rate would be calculated after deducting the value of the goods and the anti-dumping duty payable when the import price is below USD 504 per tone. The duty arrived at would be 10 per cent in the first year and will gradually reduce to 6 per cent by 2019. A 10 per cent ad valorem minus anti-dumping duty payable will be imposed on imports up to November 22, 2017. This will be lowered to 8 per cent between November 23, 2017 and November 22, 2018.Earlier this month, government had imposed anti-dumping duty on imports of steel wire rods from China for six months.

As per media interview, GAIL’s management has stated that it will increase its pipeline network by a third in the next four years as it embarks on connecting more cities Rs 20,000 crore on this, with cleaner fuel and will spend. Positive for Ratnamani Metals

Government extends exemption of toll on   National Highways till December 2nd 2016, Neutral read-thru for IRB Infra and ITNL (will be compensated by Government)

Bajaj Auto planning to relaunch Chetak scooter in India; would enable Bajaj to tap the fast growing scooter segment
As per media reports, Bajaj Chetak, one of the best-selling and popular scooters from the Bajaj's product lineup since 1972, is set to make a comeback in the country. After seeing the rising demand of scooters in the country in the recent past, Bajaj is reportedly planning to relaunch the Chetak in order to grab a pie of this growing segment. Speculated to be launched sometime in 2017, the Chetak is expected to an all-new design and modern features to lure the customers. It is expected that the Bajaj Chetak will be powered by a four-stroke, air-cooled 125cc or 150cc engine that will produce more power figures that the previous model and will be paired to an automatic gearbox.

Maruti Suzuki is planning to launch 9 new products by the end of March 2018. The products would include new models as well as updates refreshes of the existing models. Positive read thru

As per the media reports, GoI has extended date for acceptance of old Rs500 notes by PSU fuel retailers till 15-December-2016 (from 24-November-2016 earlier) for transportation fuels. The old Rs1,000 notes would not be accepted by PSU fuel retailers any more. - positive for Oil Marketing Companies.

IMD (Indian Met Department) in its seasonal outlook for South Asia, has mentioned that most parts of India are likely to witness a mild winter this year with higher-than-normal average temperatures for November – January period. The temperatures are expected to be higher by 0.5-1 degree Celsius across the country and is likely to impact the wheat yields.

TCS partners with ASML to simplify business processes
TCS announced that the company will implement a unified global process blueprint for ASML, aiming to simplify business processes, improve operational efficiency and elevate stakeholder experience. TCS has been ASML’s trusted partner, providing a range of services including IT Application Portfolio Management, Cyber Security Operations and support for Product Lifecycle Management platforms. 

Talwalkars Better Value Fitness, has decided to demerge gym business, thereby transferring gym business of TBVFL to TLL, in the interest of maximising overall shareholder value.

Vardhman Textiles,  board of the company has approved buyback proposal for up to Rs 720 crore (total market cap 6813 crore and free float of Rs 2590 crore).

Adani Enterprises,  Australia Court decision supports start of work at Queensland coal mine, positive read-thru

Sterlite Technologies,  CRISIL upgrades rating to 'CRISIL AA-/Stable' from 'CRISIL A'

As per the media reports, GoI has extended date for acceptance of old Rs500 notes by PSU fuel retailers till 15-December-2016 (from 24-November-2016 earlier) for transportation fuels. The old Rs1,000 notes would not be accepted by PSU fuel retailers any more. - positive for Oil Marketing Companies.

STOCK IN NEWS

1. IndiGo ties up with Travelport, aims for larger global presence
2. India has imposed anti-dumping duties on hot rolled flat sheets and plates of alloy or non-alloy steel to curb cheaper imports into the country
3. Make in India: Jaitapur project to see up to 70% local input, says French nuclear firm
4. Mistry's claim on planned sale of TCS to IBM at some unspecified point in time not correct: Kohli
5. SC to hear detailed affidavit on Vijay Mallya's assets
6. HDFC Bank's Aditya Puri only Indian on Fortune's top businessmen list
7. Airtel Payments Bank goes live with pilot project in Rajasthan
8. Splendor regains numero uno slot, overtakes Activa
9. Tata Motors calls EGM to remove Mistry, Wadia

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