}

Friday, 30 December 2016

30 December 2016 - Views & News

MARKET INSIGHT

Markets are likely to open positive. Nifty is currently facing resistance at 8111, which is also its 20 DMA. But, if it sustains above 8111, then we may see the pull-back extended to 8150-8190. Support on the way down is at 8050-8030 levels.

Nifty Spot Levels

Support 8050 – 7992 – 7940
Resistance 8130 – 8155 - 8190

GLOBAL MARKET & INTERNATIONAL DATA UPDATE 

• Wall Street ended slightly lower on Thursday, held down by bank shares in quiet holiday trading as traders looked to position for the new year.
• U.S. Treasury yields fell across the curve as investors bought safe-haven government debt after a strong seven-year note auction.
• The Dow Jones Industrial Average fell 13.9 points, or 0.07 percent, to 19,819.78.

TOP NEWS

Sun Pharma: Company’s management has clarified that a fire broke out at Sun Pharma’s Ahmednagar factory during excavation work, causing burn injuries to four workmen at the excavation site. Two of the injured workmen succumbed to burn injuries and other two are being treated at the Hospital – sentimentally negative; there is no loss of production at Ahmednagar factory on account of this incident.

Aurobindo Pharma gets USFDA approval for Ziprasidone Hydrochloride (used to treat schizophrenia and depression) & Indomethacin Capsules (used to treat pain) – Positive for Aurobindo

Natco Pharma: As per media reports, Natco pharma’s formulation facility at Kothur is likely to be inspected by USFDA between 16-24 Jan 2017, Kothur plant was inspected last in March 2016 (and EIR was received in Aug 2016); Stock to remain in focus

Sugar - The Union finance ministry is considering a proposal to restructure sugar mills’ debt, which is under severe stress due to lack of capacity utilization – positive for highly leveraged small sugar mills and sugar companies such as Bajaj Hindustan, while Balrampur Chini Mills and  Dhampur sugar has relatively lesser stressed balance sheet with reducing debt position (sentimentally positive for both the companies) 

Petronet and Petrobangla have signed an initial agreement to set up an LNG re-gasification terminal on Kutubdia Island and a pipeline at an estimated cost of $950million and terminal capacity of 7.5mtpa. The project is expected to get completed in four years time. Positive for the stock 

 OTHER NEWS

Maruti Suzuki to replace Dzire Tour with a stripped down version for the fleet segment
Maruti Suzuki is planning to discontinue the Dzire Tour production as per media sources. The company is expected to stop the production of Dzire Tour by March 2017. Dzire Tour is a stripped down variant of the previous Dzire and is used for the fleet segment exclusively. To replace the Dzire Tour the manufacturer will introduce a stripped down version of the present Dzire for its fleet segment. Swift Dzire might receive an SHVS ( Smart Hybrid Vehicle by Suzuki) technology too.

GE Power bags Rs271 cr order from BHEL for components, postive read-thru
GE Power India has been awarded a contract worth approximately INR 2711 million (i.e. approximately US $ 40 million) by Bharat Heavy Electricals Limited (BHEL) to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project (contract value approximately INR 1626 million) and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III (contract value approximately INR 1085 million). Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the government's focus on upgrading the power infrastructure in the country.

Jagran Prakashan board meet on Jan 5  to consider buy back

RS Software has announced that the company has made further investment of Rs 5,90,00,000 in Paypermint Private Limited, its wholly owned subsidiary for allotment of 59,00,000 equity shares of 10 each.

Shree Cement to construct 5mtpa cement plant in West Bengal at capex of Rs600crore – positive read through for the stock
As per the media reports, Shree Cement is planning to build a 5mtpa cement plant and a 20MW captive power plant at Parbatpur and Digha (West Bengal) at an estimates capex of Rs 600crore. The project is waiting for environmental clearance and Pollution Control Board approval and is expected to get completed in 20-24 months.

Ultratech to expand Chittorgarh limestone mine to 13.2mtpa from 10mtpa - positive read through for the stock 
As per the media reports, Ultratech Cement, is planning to expand its Aditya limestone mining project at Chittorgarh in Rajasthan from 10mtpa to 13.2mtpa. The company has proposed expansion of clinker production capacity from 8.4mtpa to 8.9mtpa at Chittorgarh.

 MORE NEWS

Govt's indirect tax kitty swells over 23% in Nov
Giants bring in investments worth Rs 3.30Lcr in telecom
Telecom vendors bet on India amid global downturn
Money supply not enough: Banks to government
Private equity players may flock to real estate mkt
Reliance Jio justifies free call, data offer to Trai
Bank credit growth continued to decline in H1
Note ban can transform economy: RBI
Corporate India's financial position remains weak
ONGC cleared GSPC deal without enough independent directors
Fin Ministry considering debt restructuring for sugar sector
Fairfax gets RBI nod to acquire 51% in Catholic Syrian Bank
Banks face significant stress, but stable overall: RBI
Tatas to Mistry: return all ‘confidential’ papers
Ambuja Cement, ICICI Bank enter into partnership to boost cashless trade
RIL commissions paraxylene plant at Jamnagar complex
Change in fiscal year cycle unlikely before 2018
SEBI launches prosecution in 568 CIS cases, 1,100 others
Cash withdrawal limits to be rolled back in phases
Move over 4G, IoT and 5G will be the flavour of 2017: Trai chairman
Myntra’s app-only move slowed down FY16 sales growth
Prem Watsa’s Fairfax takeover bid for CSB gets RBI approval
Aditya Birla Idea Payments Bank to launch in first half of 2017
RBI moots an ombudsman for NBFCs
M Venkaiah Naidu dismisses reports India lobbied for better ratings
Markets settle with decent gains on expiry day; Sensex soars 155.47 pts
Solar power, green corridor blip on energy radar for 2017
Govt proposes setting up Financial Data Management Centre
Pay to rise for millions as 19 states increase minimum wage
RBI says no to RTI query on note ban
Chana the bad apple in bunch of cheap pulses
Algo glitch may mar NSE IPO
Market likely to overcome DeMo impact in 2017
Jaitley sings paeans to economy as note ban ends
NSE extends concessional transaction fee in equity derivative

STOCK IN NEWS

1. Giants bring in investments worth Rs 3.30Lcr in telecom
2. Reliance Jio justifies free call, data offer to Trai
3. Bank credit growth continued to decline in H1
4. ONGC cleared GSPC deal without enough independent directors
5. Fin Ministry considering debt restructuring for sugar sector
6. Fairfax gets RBI nod to acquire 51% in Catholic Syrian Bank
7. Tatas to Mistry: return all ‘confidential’ papers
8. Ambuja Cement, ICICI Bank enter into partnership to boost cashless trade
9. RIL commissions paraxylene plant at Jamnagar complex
10. SEBI launches prosecution in 568 CIS cases, 1,100 others
11. Move over 4G, IoT and 5G will be the flavour of 2017: Trai chairman
12. Aditya Birla Idea Payments Bank to launch in first half of 2017
13. RBI says no to RTI query on note ban
14. NSE extends concessional transaction fee in equity derivatives

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