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Tuesday, 31 January 2017

31 January 2017 - Views & News

MARKET INSIGHT

Markets are likely to open weak. 8663 & 8700 are very important resistance levels in Nifty. On the lower side, the Nifty has support at 8591 - 8540 levels. The short-term trend is still positive till the Nifty doesn’t close below 8520.

Nifty Spot Levels

Support 8614 – 8542 – 8501
Resistance 8663 – 8741 - 8807

GLOBAL MARKET

• Major US stock indexes posted their largest drop so far in 2017 on Monday as investors worried that a curb on immigration ordered by Donald Trump was a reminder that some of the US president's policies are not market-friendly.
• The CBOE Volatility index or Wall Street's "fear gauge" rose 1.30 points, the most for any day since November 3.
• Stocks fell even as US consumer spending accelerated and a measure of pending home sales rose in December, pointing to sustained domestic demand that could spur economic growth in early 2017.
• The Dow Jones Industrial Average fell 122.65 points, or 0.61 percent, to close at 19,971.13

Market Update:

Sgx Nifty -8 pts ‎Dow -122.65 pts ,Nsdq -47.07 pts , S&P -13.79 pts , Bovespa -1732 pts , Ftse -66 pts  , Dax -132 pts  , Cac -55 pts , Nikkei  -179 pts now , Crude @ $52.65 brl (+0.06), Brent @ $55.33 brl (+0.02) , Gold @ $1197.85 (+0.65), Silver @ $17.14 (+0.02), Euro @ $1.0707, JPY @ $113.7500, INR @ $67.810

Today's Corporate Action 31st Jan  Ex Date

DBCORP Interim Dividend - Rs. - 4.0000
PERSISTENT Interim Dividend - Rs. - 6.0000
SIEMENS Dividend - Rs. - 6.0000

Results Today:31st Jan 

Akzo Nobel, Asahi Song, Bajaj Auto, Bajaj Holding, Bharat Gear, Cadila Health, Capf, Centuryply, Centyry Tex, Dabur, FSL, Genus Power, GHCL, GoldCorp, GTL, HawkinCook, HCL Infy, ICICI Bank, IDFC, IFB Ind, Indigo, IOC, Jai Corp, Jen Bur, JSW Steel, Kansai Nerolac, KEC, KSCL, MahaBank, MHRIL, Mphasis,Nelco, Oil, ONGC, Parry Sugar, Shopper Stop, SRTransfin, Subros, Syndicate Bank, TTK Prestige, Uco Bank,WabcoIndia,Welspun Ind, Wonderla


TOP NEWS

Natco: Court rejects Teva’s patent infringement claims on Copaxone 40 mg injection - Positive for Natco; Natco (in partnership with Mylan) now awaits approval from USFDA for Copaxone

International Natural rubber prices have increased 25% in last one month and are currently trading at a three year high price of Rs 195 per kg due to supply disruptions in the key rubber producing nation Thailand. Tracking the higher international prices, domestic rubber prices have increased 16% in laast one month and are currently trading at Rs 158 per kg. Higher rubber prices is negative for tyre players such as Apollo Tyre, Ceat, MRF and JK Tyre

STRONG RESULTS:

Pincon Spirits posted stellar performance in Q3FY2017 with revenues growing by 31% to Rs311.9crore (revenues of IMFL division grew by 33% and FMCG division revenues grew by 26%) and the PAT growing by 52% to Rs9.3 (OPM improved by 92BPS to 6.8%) in the backdrop tough market condition – positive read through for the stock

V-Mart Retail posted strong performance in Q3FY2017 with revenues growing by 23.3% yoy to Rs326.9crore as against Rs265crore in Q3FY2016. The OPM improved by almost 300BPS to 14.8%, while the net profit grew by 81.3%yoy to Rs27.2crore
  
WEAK RESULT

Shree Cement Ltd Q3FY2017 results – Flattish earnings performance led by weak power division performance
·         The total revenue for the quarter under review grew by 2.2% YoY to Rs1,843 crore on account of 12% YoY growth in cement revenues to Rs1,816 crore. However, the net power division revenue (adjusting for inter-segment revenue) declined by 85% YoY.
·         The company reported flat operating margin YoY at 25.4% on account of higher realization in cement along with lower power & fuel cost (down 20% YoY) and raw material cost (16% YoY). Consequently, operating profit for the quarter grew by 2.2% YoY to Rs469 crore.
·         The interest and depreciation for the quarter grew by 74.5% YoY and 14.8% YoY respectively. PBT for the quarter declined by 5.5% YoY to Rs246 crore. However, lower effective tax rate (4.3% vs 10.2% in Q3FY2016) led to net profit growth of 0.7% YoY to Rs235 crore.
·      Currently, we have Hold recommendation on stock with a price target of Rs18,000. We shall come out with detail note post interaction with management.

OTHER NEWS

Bajaj Auto relaunches Pulsar NS200 starting at Rs 1.16 lakh; positive
Bajaj Auto has re-introduced the Pulsar NS200 with three new colour options at a price tag of Rs 1.16 lakh, on-road Mumbai as per media reports. The company has already started delivering the motorcycle at dealerships The new colours on offer are shades of blue, white and red. The 2017 Bajaj Pulsar NS200 will be powered by the existing 199.5 cc single-cylinder engine with triple-spark technology that develops 23.1 hp of power and 18.3 Nm of torque. The new Pulsar NS200 is likely to have FI (Fuel Injection) technology and the engine compliant to BS-IV emission norms. Relaunch of Pulsar 200 NS will enable Bajaj to gain market share in the motorcycle space.

Tata Chemicals proposes Rs 250 crore investment in Andhra Pradesh…………….. Positive read through for the stock
Tata Chemicals plans to invest Rs 200-250 crore for the development of nutritional products in Andhra Pradesh. The company signed a memorandum of understanding for the development of Biotechnology-based nutritional products such as Oligosaccharides and other nutritional products with the Andhra Pradesh government on January 28, 2017.

Maruti Suzuki to double premium distribution channel network “Nexa” by 2020; positive read thru
Maruti Suzuki India (MSI) plans to double the number of Nexa outlets to 400 by 2020 fuelled by growing demand. At present, MSI sells premium crossover S-Cross; premium hatchback Baleno and premium urban compact IGNIS through the Nexa channel. MSI plans to launch the new Baleno RS model in February/March 2017 which would be sold thru the Nexa route

Mahindra rolls out upgraded KUV100 at Rs 6.37 lakh to fend off competition
Mahindra launched an upgraded top-end version of its compact SUV KUV100 with additional features priced at Rs 6.37 lakh (ex-showroom, Delhi). The new avatar will be available on the top end K8 variant for Rs 6.37 lakh , at a differential of Rs 13,000 over the existing version. The new K8 variant comes with various features including two options for dual tone exterior colour Flamboyant Red or a Dazzling Silver body with metallic black roof. 

Wipro partners with Tradeshift to increase digitalization and automation
Wipro announced a strategic partnership with Tradeshift, to offer cloud-based Source-to-Pay (S2P) Business Process as a Service (BPaaS) solution. The partnership aims to help customers accelerate digitalization and automation in their procurement, finance and accounting functions.

Dilip Buildcon:  MORTH recalls EPC project in Andhra Pradesh where the company was Lowest bidder – Negative read thru for Dilip Buildcon
Ministry of Road Transport & Highways has recalled the project Rehabilitation and up-gradation of Machilipatnam to Avanigadda section to two lane with paved shoulder in Andhra Pradesh through an EPC basis where the Company had been declared as the successful bidder (L-1) for the project. The project was recalled as the L-1 bid price was higher than the departmental estimate of Rs222.9 crores. The development is negative for Dilip buildcon.

Banking Sector: ICRA has forecasted Bank credit growth to likely remain subdued at 5-6 % in FY17 on back of weak loan demand and competitive rates from debt markets. Deposit growth is likely to ease further to 12% - Sentimentally positive for NBFCs, Neutral for large PSU banks

Zee Entertainment launches 2 new channels for Africa
Zee Entertainment announced the launch of two new channels, Zee Bollymovies and Zee Bollynova, which will broadcast on Africa’s new pay-TV network, Kwesé TV. The channel aims to become the number one destination for Bollywood on the continent, bringing the latest and best Bollywood entertainment to Africa.

IL&FS Transportation, IL&FS Engineering: The company has received letter of acceptance for bid submitted totaling Rs375 crores for two of its projects in Madhya Pradesh. The company has a JV with IL&FS Engineering for the said project. The development is positive read thru for both the stocks.

 MORE NEWS

Vodafone confirms talks on merger with Idea 
CBI opposes bail pleas of 9 in IDBI loan default case
Idea deal will lead to backdoor listing of Vodafone
RBI removes withdrawal limits on current accounts 
CBI opposes bail pleas of 9 in IDBI loan default case
Telenor joins M&A rush, seeks Aircel-RCom tieup
Piramal to acquire Mallinckrodt for $170 million
Next edition of consolidated FDI policy to come out soon
Strategic sale of NMDC, SAIL units on cards
ATM cash withdrawal limit eased further
Lenders wary of JSW's Bhushan Steel proposal
Fitch downgrades long-term issuer default ratings on BILT to CCC
I-T begins action under Benami Act; attaches 42 assets worth crores
Merger may lead to $1 b in savings for Idea, Vodafone
GMR Kakinada SEZ attracts ₹7,000-cr investments 
HDFC board approves increase in authorised share capital to Rs.350 cr
Reliance Defence bags Rs. 916-cr contract from Defence Ministry
Emami posts ₹140-crore standalone profit in third quarter
HDFC Q3 net profit up 12% to Rs1,701 crore
Govt mulls introducing fixed-cost component in renewable energy tariff
Inadequate imports of paper for new currency notes may have led to cash crunch
Tech Mahindra’s Q3 profit up 14% to Rs856 crore
Grasim consolidated profit up 14% on better VSF realisation
Indian Rupee slides 16 paise against dollar
German consumer group files data suit against WhatsApp
Gold monetisation policy has no lustre, needs changes: IIM-A
Goldman Sachs CEO Lloyd Blankfein takes lead on Wall St. in slamming Donald Trump's travel ban
Indian e-tail industry grew by 12% to $14.5 billion in 2016: Report
RBI sets rupee reference rate at 68.0426 against dollar
Disinvestment goal for FY18 may be raised to garner funds
Higher open interest, new series may add to volatility
Sops to common man, cut in corporate tax on the cards

 STOCK IN NEWS 

1. IDBI-led lenders consortium put 55% stake in GMR Rajahmundry Energy on sale
2. Mahindra launches upgraded SUV KUV100 at Rs 6.37 lakh
3. Reliance Jio free offer violates Trai tariff orders: Vodafone to Delhi HC
4. Piramal to acquire drugs from UK's Mallinckrodt for Rs 1,162 cr
5. SAIL in talks with CIL over coking coal price hike
6. Fitch downgrades long-term issuer default ratings on BILT to CCC
7. Zee launches two new channels in Africa
8. GAIL, HPCL to set up Rs 40,000 cr cracker unit at Kakinada, Andhra Pradesh
9. Reliance Defence bags Rs 916 crore contract from Indian Coast Guard
10. DLF Noida mall in CBRE list of 22 best global retail projects

Monday, 30 January 2017

30 January 2017 - Views & News

MARKET INSIGHT

 Indian markets are likely to open on negative note following global market. The resistance for Nifty is now at 8710 level. 

Nifty Spot Levels

Support 8614 – 8578 – 8550
Resistance 8678 – 8709 - 8741

GLOBAL MARKET & INTERNATIONAL DATA UPDATE

 • US stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump.
• US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 percent annual rate, below the 2.2 percent rise expected by economists and the 3.5 percent growth pace logged in the third quarter.
• The Dow Jones Industrial Average fell 7.13 points, or 0.04 percent, to 20,093.78.

Market Update:

Sgx Nifty -39 pts ‎Dow -7.13 pts ,Nsdq +5.80 pts , S&P -1.99 pts , Bovespa -156 pts , Ftse +23 pts  , Dax -34 pts  , Cac -27 pts , Nikkei  -156 pts now , Crude @ $52.9y brl (-0.24), Brent @ $55.42 brl (-0.24) , Gold @ $1196.25 (+6.25), Silver @ $17.20 (+0.03), Euro @ $1.0716, JPY @ $114.6600, INR @ $68.120


Today's Key Result 30 th. Jan

Result today : Amrit Corp, Astra Micro, Bajaj Finsv, Bajaj Finance, Coral Lab, Crest, DalmiaSug, Dishtv, Emami Ltd, Emkay, Godrej Consumer, Grasim, HDFC, Indramedco, Kitex, Mah Life, Motilal, Naukri, NBVentures, Netlix, Omax Auto, Pfizer, ONBGilts, Procal, SaintGobain, Saksoft, Shree Cement, TechM, TFL, TIL, Vguard, Vmart, Walchannag, Zyduswell

TOP NEWS

Maruti Suzuki India increased vehicle prices ranging from Rs 1,500 to Rs 8,014 (translating into hike of about 0.5%)  across the product range effective from Jan 27,2016. The price hike is undertaken to offset increased commodity prices, transportation and administration costs. Positive.

Tractor makers expect strong growth of 18-19% for FY2017 despite demonetisaton; implying a double digit growth in Q4FY2017; positive read thru for tractor players such as M&M and Escorts

Bharat Electronics Q3FY17 results update: Strong all round performance (back to back quarter of strong numbers), board clears 1:10 share split (will increase liquidity ) (details in Investment Call section)

IOC’s Paradip refinery faces withdrawal of sales tax deferment – negative for the stock but we do not factor in any benefit from the likely fiscal incentives in our estimates  
As per the media reports, Odisha Government has issued a show-cause notice to the Indian Oil Corporation Limited (IOCL) asking it for a reason to not withdrawn the provision of deferment of sales tax on the Paradip Refinery's finished products. We do not factor any benefit from sales tax deferment in our earnings estimate

Larsen & Toubro bags Rs 1,286 crore order for construction jobs; positive for L&T
·         Heavy Civil Infra orders worth Rs 1071 crore for underground metro space from Metro-Link Express for Gandhinagar and Ahmedabad. Another order is for construction of an iron ore berth at Paradip, Odisha and construction of a technology-driven intake well structure using diaphragm wall technology at Purushotapatnam, Andhra Pradesh.
·         Building & Factories segment order for civil and allied structural works for construction of a paint manufacturing facility at Vizag, Andhra Pradesh worth Rs215 crore 
OTHER NEWS

Maruti Suzuki has launched a new variant of WagonR with additional features. The latest variant VXi+ comes with both automatic (auto gear shift) and manual transmissions. The manual trims are priced at Rs 4.69 lakh and Rs 4.89 lakh while the auto gear shift (AGS) versions are tagged at Rs 5.17 lakh and Rs 5.36 lakh (ex showroom Delhi). The new variant with auto gear shift would strengthen the WagonR brand and help to enhance volumes.

Tractor makers expect strong growth of 18-19% for FY2017 despite demonetisaton; implying a double digit growth in Q4FY2017; positive for tractor players such as M&M and Escorts
Tractor makers are hoping to report strong growth (18-19% for FY2017) even as demonetisation impacted rural demand adversely over the past three months. Between April and October 2016, tractor sales accelerated 25% over that in the previous year. However demonetisation led to 14% drop in the tractor sales. Sales picked up in December to grow 7% yoy. With good progress in rabi sowing and increased minimum support prices (MSPs), the industry expects double digit growth in Q4FY2017

Maruti Suzuki discontinues sales of entry variants of S cross model on low demand; will continue to sell the mid and top end variants; overall S Cross sales as per company expectations
Maruti Suzuki India has discontinued the sales of the lower variants of the S Cross model (1.6 litre) due to low demand. However, the company continues to sell the top end Alpha variant of the 1.6 liter S cross (priced at Rs. 12.03 lakh ex-showroom Delhi) as well as all the three variants of the smaller 1.3 litre diesel engine, which is priced between Rs. 8.78 lakh and Rs. 10.63 lakh (ex-showroom Delhi). The company stated that the overall monthly sales of S cross was around 2,000-2,100 units and the sales were as per company’s expectations

Balrampur Chini inks pact to sell entire stake in IGLL to Ganesh Explosives for Rs0.21cr; part of non focus business -  no impact on revenues or bottomline
Balrampur Chini Mills, the country’s second-largest sugar firm, today signed an agreement with Ganesh Explosives to sell its entire 53.96 per cent stake in its subsidiary Indo Gulf Industries Ltd (IGLL). As per the agreement, the company will sell its entire 0.51crore equity shares, comprising 53.96 per cent stake in IGLL, for Rs20.6lakh

A memorandum of understanding (MOU) has been signed between Hindustan Petroleum Corporation GAIL, and Government of Andhra Pradesh (GoAP) to set-up a greenfield petrochemical complex in Andhra Pradesh. As per the media reports, the overall project cost is estimated at $5.9b.

 MORE NEWS

I-T dept leans on Big Data to track down tax evaders
IndiaPost gets licence to start payment bank ops
Trump's ban includes green card holders: DHS
In rush to lend to KFA, IDBI dumped rulebook: CBI
Kumar Mangalam boosts stake in Aditya Birla Nuvo
Rs 5K cr withdrawn from Jan Dhan post note ban
BSNL's losses narrow to Rs 4,890 crore in April-Dec
Macquarie, Abu Dhabi sovereign fund join race for Indian malls
Donald Trump's trade policies to have minimal impact on India: Nomura
FM may have to budget for lower PSU dividends
R-Infra looks for refinance options on Mumbai Metro
Consolidation likely among gold refineries
Y V Reddy pitches for comprehensive gold policy
Over 530 cos may face action for CSR norm violations
Market cap to GDP ratio signals upside for stocks
Govt mulls insurance guidelines for mobile wallet transactions 
Maruti discontinues sale of lower variants of S-Cross
Equities see sixth month of inflows, MFs pour in Rs. 5,000 cr
Cosmo to start new production line of BOPP films soon 
Tata Tele was on verge of filing for bankruptcy: Mistry
Banks eyeing big-ticket reforms in budget: Survey
L&T Q3 profit up 39% to Rs972 crore, revises FY17 guidance downward
DCB Bank to raise up to Rs400 crore in H2 of next fiscal year
ONGC to invest Rs78,000 crore in KG basin, signs deal with Andhra Pradesh
Ashoka Buildcon Q3 profit doubles to Rs43 crore
UIDAI warns against agencies printing plastic Aadhaar cards
SAARC member states to meet in Nepal
Duty on sugar imports may go soon
Disinvestment goal for FY18 may be raised to garner funds
"Trump's policy not to hit Indian IT, pharma firms"
ITC Q3 profit rises 5.7% to `2,646 cr
Industry 4.0 necessary to hike mfg share in GDP: Experts

 STOCK IN NEWS 

 1. I-T dept leans on Big Data to track down tax evaders
2. IndiaPost gets licence to start payment bank ops
3. Trump's ban includes green card holders: DHS
4. In rush to lend to KFA, IDBI dumped rulebook: CBI
5. Kumar Mangalam boosts stake in Aditya Birla Nuvo
6. Rs 5K cr withdrawn from Jan Dhan post note ban
7. BSNL's losses narrow to Rs 4,890 crore in April-Dec
8. Donald Trump's trade policies to have minimal impact on India: Nomura
9. FM may have to budget for lower PSU dividends
10. R-Infra looks for refinance options on Mumbai Metro
11. Over 530 cos may face action for CSR norm violations
12. Maruti discontinues sale of lower variants of S-Cross
13. Cosmo to start new production line of BOPP films soon
14. Tata Tele was on verge of filing for bankruptcy: Mistry
15. L&T Q3 profit up 39% to Rs972 crore, revises FY17 guidance downward
16. DCB Bank to raise up to Rs400 crore in H2 of next fiscal year
17. ONGC to invest Rs78,000 crore in KG basin, signs deal with Andhra Pradesh
18. Ashoka Buildcon Q3 profit doubles to Rs43 crore

Friday, 27 January 2017

27 January 2017 - Views & News

MARKET INSIGHT

 Indian markets are likely to open on a negative note based on the global cues. Bias remains positive and support for the day is placed at 8541 levels.

Nifty Spot Levels

Support 8541 – 8398
Resistance 8654 - 8678

GLOBAL MARKET & INTERNATIONAL DATA UPDATE

• US stocks were little changed on Thursday as investors paused following a two-day rally that pushed the Dow Jones Industrial Average above the 20,000 mark, while the latest wave of earnings rolled in.
• Trump's business-friendly decisions since taking office on Friday include signing executive orders to reduce regulatory burden on domestic manufacturers and clearing the way for the construction of two oil pipelines.
• The Dow Jones Industrial Average rose 32.40 points, or 0.16 percent, to close at 20,100.91.
Market Update:

Sgx Nifty +40 pts(Sgx 8654)(Nifty Fut 8614) ‎Dow +32.40 pts ,Nsdq -1.16 pts , S&P -1.69 pts , Bovespa +350 pts , Ftse -2 pts  , Dax +42 pts  , Cac -10 pts , Nikkei  +288 pts now , Crude @ $53.74 brl (-0.04), Brent @ $56.24 brl (+1.16) , Gold @ $1187.40 (-2.40), Silver @ $16.77 (-0.08), Euro @ $1.0683, JPY @ $114.4300, INR @ $68.0750

Today's Key Result 27th Jan

Advani Hotels, Colpal, Eveready, Geojit BNPP, Guj Alkali, India Cement, Ind Nippon, ITC, Just Dial, KKCL, Shanti Gear, Sundaram Fin, Tanla, Tata Coffee, Zuari Agro

TOP NEWS

ALERT: As per Bloomberg, Singapore Complex GRM has recovered sharply by 22% to $6.9/bbl in January-2017 till date as compared to the average of $5.7/bbl in December-2016. Positive for OMCs and Reliance Industries

Sun Pharma gets USFDA approval for generic Ambein CR; used as sedative primarily used for the treatment of insomnia – Positive for Sun Pharma

Aurobindo gets USFDA approval for Dalfampridine tablets; used to treat improve walking in the adults suffering with multiple sclerosis- Positive for Aurobindo

GAIL has recommended bonus issue of 1:3 (one bonus share for every 3 shares held) and approved interim dividend of Rs8.5/sh (85% of FV of Rs10/sh).

Dilip Buildcon:  The company wins Rs911 crore hybrid annuity project in Maharashtra – Positive for the stock
National Highways Authority of India has declared Dilip Buildcon, the successful bidder (L-1) for the project “four laning of Turjapur-Ausa section of NH-361 on Hybrid Annuity Mode in the state of Maharashtra at a project cost of Rs911.07 crores having length of 67.428 Km and Completion period of 24 Months. The development is positive for Dilip Buildcon.

Dr Reddy in Focus: South Korea's Mezzion, a drug company is seeking damages from Dr Reddy's in a New Jersey court for committing fraud by hiding significant deficiencies and misrepresenting compliance in its manufacturing practices. The suit states that Dr Reddy's repeatedly represented to Mezzion that it was compliant with FDA regulations, and that it hid its misconduct from Mezzion. The suit also states that Dr. Reddy's misconduct was the sole reason given by the FDA to deny approval of Mezzion's new drug application (NDA) for udenafil for the treatment of erectile dysfunction (ED) and for FDA's refusal to grant marketing approval of Mezzion's udenafil finished drug product. – Negative for Dr Reddy.

European car major Peugeot inks JVs with Hindustan Motors for assembly and distribution of vehicles in India by 2020 – positive……(details in Other news)


Pharma sector in focus: Drug price regulator National Pharmaceutical Pricing Authority (NPPA) has slashed the prices of around 33 essential medicines, bringing down their retail prices by 30-50% - Negative for companies like Alkem, GSK Pharma, Alembic, Cipla, Dr Reddy (details in Other news)

OTHER NEWS

European car major Peugeot inks JVs with Hindustan Motors for assembly and distribution of vehicles in India by 2020 - positive
European auto giant Peugeot has signed joint venture agreement with Hindustan Motors Finance Corporation Limited) which is a subsidiary of Hindustan Motors for the assembly and distribution of PSA passenger cars in India by 2020. As part of the agreement, the PSA Group will hold a majority stake in the joint-venture company. The manufacturing sites for vehicle assembly will be based in Tamil Nadu. Hindustan Motors has a manufacturing plant at Tiruvallur near Chennai which makes products of Mitsubishi. The initial manufacturing capacity will be set at about 1,00,000 vehicles per year and will be followed by incremental investment to support a progressive ramp-up of the long term project. 

Tata Motors sees recovery in CV business; expect January 2017 sales to be flat; positive read thru
Tata Motors has stated that the CV segment is witnessing recovery and expects sales in the month of January 2017 to match sales in the corresponding month last year. CV sales had been under pressure post demonetization (November and December 2016 sales dropped on yoy basis) Tata Motors aims to become no 3 CV player globally by FY2019 helped by strong sales in the Indian market. It launched a fully electric and a hybrid bus, with indicative prices ranging between Rs 1.6 crore and Rs 2 crore

Maruti Suzuki launches limited edition of Swift Dzire
Maruti Suzuki has launched the Allure limited edition of the Swift Dzire. The new Allure edition of Dzire gets chrome garnish on the front grille, chrome inserts on the fog lamp, side skirts and an 'Allure' moniker below the variant badge. In addition, the compact sedan also gets chrome inserts on the boot and window frames. Inside, Allure edition gets a new dual-tone seat colour, dual-tone steering wheel cover, Allure pillows and ambient lighting. The company is also offering an optional 8-inch subwoofer with 4-channel amplifier and more powerful component speakers in the integrated audio system.

Pharma sector in focus: Drug price regulator National Pharmaceutical Pricing Authority (NPPA) has slashed the prices of around 33 essential medicines, bringing down their retail prices by 30-50% - Negative for companies like Alkem, GSK Pharma, Alembic, Cipla, Dr Reddy
These 33 drugs includes anti-allergics used for common cold and cough, antibiotics and drugs used to treat ulcerative colitis, arthritis, psoriasis, gastroesophageal reflux disease (Gerd) and tuberculosis. The 33 drugs have been divided into two categories. While the regulator has brought 11 new drugs under price control, prices of 22 new drugs whose prices were already capped have been further reduced. All the 33 drugs are part of the revised National List of Essential Medicines, 2015

Dredging Corporation of India secures Rs102 Crore International Contract for Dredging in Pussur Channel from Mongla Port to Rampal Power Plant, Bangladesh in Global Competitive Bidding. The development is positive for Dredging Corporation of India.

 MORE NEWS

Data analysts will match your deposits with ITR, TDS
Idea, Vodafone giving adequate PoI to Jio: Trai
Govt may revive Kolar gold mines with $2 bn reserves
Withdrawal limits likely to go away by Feb-end
India is the sixth great power in 2017: US magazine
US new home sales hit post-crisis record in 2016
Ratan Tata-Cyrus Mistry row: Sebi finds no violations
Trade deficit may range b/w $100-110 bn: Report
Survey indicates decline in business sentiment outlook for Q4: RBI
South Korean firm sues Dr Reddy's in US court
NCLT accepts Synergies Dooray's application for insolvency
Petrochemical majors step on expansion gas pedal
Hurdles in digital transactions temporary: NPCI
Consumers drive UK eco, defying expected Brexit vote hit
RBS sets aside $4 bn for 'painful legacy' of US loan mis-selling
High govt debt limits room for quick deficit reduction: Moody’s
Jaitley eyes tax giveaways, state investment in Budget
Tata Steel plans to increase capacity of Kalinganagar plant
Wipro Q3 net profit falls 5.6% on higher costs
FSSAI notifies comprehensive regulations for food recall
Peugeot maker to drive back into India with CK Birla group
Reliance Jio impact: Airtel to switch to VoLTE in key markets
BlackRock’s $1 trillion JPMorgan move shows cost strategy
GVK sole bidder for Navi Mumbai airport
Fidelity Investments slashes Flipkart’s valuation by over a third
Donald Trump finds unlikely ally in Unilever CEO Paul Polman
Sebi bars Vijay Mallya, six others from securities market
RBI prohibits investments in 'non-cooperative countries'
British Steel to reverse Tata Steel pay cuts on staff at UK plant
Moody's downgrades Rel Com credit rating to B2
Consolidation in realty sector to gain momentum post notes ban
Maruti Suzuki net zooms 47.5%
Tata Steel aims 20% revenue from service, solutions biz
Only 3% jewellers have hallmarking certification
BSE IPO oversubscribed nearly 12 times
Parliament must vote before UK can trigger Brexit, rules top court
Johnson & Johnson to buy Actelion for $30b

 STOCK IN NEWS 

1. Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU), part of the Mitsubishi UFJ Financial Group (MUFG), is taking aggressive bets in Indian pharmaceuticals.
2. IFC plans to invest $10 million in Zinka Logistics
3. United Spirits' matter: Sebi bars Mallya, six others from securities market
4. Wipro to acquire Brazilian IT firm for $8.7 mn
5. Tata Motors launches electric bus at Rs 1.6 cr
6. Tata Steel aims 20% revenue from service, solutions businesses
7. RINL in talks with SBI for Rs 1,600 crore debt for UP project
8. China power firm seeks to enter power transmission sector
9. NTPC is supposedly dragging its feet on the proposed expansion of its 3000 Mw super thermal power station at Kaniha, some 180 km from Bhubaneshwar.
10. Idea moves Delhi High Court against TRAI penalty recommendation
11. Cyient acquires Certon Software in fifth deal in under three years
12. Siemens announces receiving order worth Rs 366 crore from ONGC

Wednesday, 25 January 2017

25 January 2017 - Views & News

MARKET INSIGHT

Markets are likely to open on a positive note, we now maintain our bias up both on Nifty as well as the Banknifty. The intraday target above 8461 comes to 8510 initially and thereafter 8542 levels. The positional target on the upside comes to 8654 levels. The stop loss for the intraday should be below yesterday’s swing low i.e. 8398 levels, whereas, for the positional traders it should be below 8327 levels.

Nifty Spot Levels

Support 8398 – 8351 – 8327
Resistance 8510 – 8542 - 8601

GLOBAL MARKET & INTERNATIONAL DATA UPDATE

The S&P 500 and Nasdaq set record highs on Tuesday in a broad rally led by financial and technology stocks.
The advance comes as quarterly earnings season heats up and investors become optimistic that clarity on President Donald Trump's economic policies will be forthcoming.
Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental actions in favor of expanding energy infrastructure.
The Dow Jones Industrial Average rose 112.86 points, or 0.57 percent, to 19,912.71.

Market Update:

Sgx Nifty +33 pts ‎Dow +112.86 pts ,Nsdq +48.01 pts , S&P +14.87 pts , Bovespa +91 pts , Ftse -0.84 pts  , Dax +49 pts  , Cac +8 pts , Nikkei  +288 pts now , Crude @ $52.96 brl (-0.22 ), Brent @ $55.44 brl (+0.21) , Gold @ $1208.40 (-2.40), Silver @ $17.11 (-0.07), Euro @ $1.0728, JPY @ $113.9300, INR @ $68.1450

Today's Corporate Action 25th Jan  Ex Date

HYDIND Interim Dividend - Rs. - 10.0000
MINDTREE Interim Dividend - Rs. - 2.0000
TRIDENT Interim Dividend - Rs. - 0.6000

Today's Key Result 25th Jan

APL Ltd, AroGranite, Arvind, Ashok Leyland, Asian Tiles, Birla Money, Blue Star, Chola Fin, Coromandel, Exide Ind, IBRealEst, IBVentures, IDFC Bank, IIFL, Indian Bank, IRB, Karur Vysya, Kotak Bank, Kirlos Eng, Maruti, Oberoi Reality, Orbit Exp, Raymond, Saregama, Suprem Ind, Tata Elxsi,UPL, VRL Log, Wipro

TOP NEWS

Bhel bags order worth Rs1360cr from Powergrid. It scope is to set up 800kv 6000mw HVDC between western grid and southergrid. Positive

Japanese auto-component maker JTEKT Corporation is set to buy out Indian partner Sona Group’s 25% stake in Sona Koyo Steering Systems for Rs 575-625 crore as per media sources. JTEKT is believed to have offered Rs 115-125 per share (current CMP of Rs 73) which is more than 50% premium over its current capitalisation. The Indian promoter owns 25.28% of the joint venture company while the Japanese company owns 20.1%. Positive for Sona Koyo Steering

As per industry experts, the passenger vehicle industry is expected to grow by  10% in FY17 (as against 9% growth in 9MFY2017) which implies a double digit growth in Q4FY2017. Positive for PV players such as Maruti Suzuki, M&M and Tata Motors

Bhushan Steel- JSW Steel has submitted a bid of Rs 25,000 crore for acquiring Bhushan Steel.  The deal would include taking over the debts of Bhushan Steel, which were Rs 44,477.90 crore in 2015-16, at a substantial discount. Positive for Bhusan Steel

As per the media reports, ONGC expect to produce additional gas of around 3.3mmscmd from its existing fields with help of GSPC’s infrastructure (ONGC has recently acquired entire 80% stake of GSPC in KG-OSN-2001/3 block). ONGC gas production in Q2FY2017 stood at 63.1mmscmd and thus ONGC could see around 5% increase in gas production. Positive for ONGC

KM Sugar Mills to consider increase in capital from Rs20cr to Rs24cr; preferential allotment of 2 crore shares in one or more trenches and raising of funds up to Rs100crore through preferential allotment (@ Rs50 per share, which at premium of 66% from current market price); the raising of fund is largely to set up a sugar refining facility at Ghana – positive read through for the stock 


STRONG RESULTS

Swaraj Engines reported robust operating results for Q3FY17.  Topline grew 47% yoy mainly driven by volume growth. Operating margins improved 280 bps to 14.9% led by operating leverage.  Net profit grew 83% yoy to Rs 15.3 cr

Supreme Petrochem Q3FY2017 results: Strong operating performance – Positive read thru for Supreme Industries (parent company)
Net revenue increased to Rs 764 crore in Q3FY2017 from Rs 681.4 in Q3FY2016, an increase of 12.2% YoY. EBITDA margin improved by 50BPS YoY to 7.7%. Consequently, net profit increased by 23.8% YoY to Rs35.4 crore.

PNB Housing posted strong results for Q3 FY17 with PAT up 53% YoY at Rs 138 cr as its Net interest income (NII) registered a growth of 40 % to Rs 264.50 crore
The PAT growth was helped as PNB Housing wrote back provision for contingencies of Rs 24.50 crore, created in previous years, in order to maintain the gearing ratio as per NHB guidelines. Asset quality continued to be strong with the gross non performing assets (GNPA) at 0.37 % and Net NPA (NNPA) at 0.27%.

Greenply Industries: Earnings and revenue ahead of consensus estimates (net profit Rs19 crore, revenue Rs358 crore)
The company reported an earnings decline of 31.6% YoY to Rs24 crore for Q3FY2017 which was ahead of consensus estimates (Rs19 cr). The company’s revenue declined by 13.8% YoY due to demonetization impact on its MDF business (revenues down 26% YoY). However, gross margins expanded over 400BPS YoY led by better product mix and fall in raw material prices. Further higher ad expenditure and other expenditure led to lower operating margins (down 196BPS YoY).

FUND RAISING

Airtel gets board nod to raise up to Rs 10,000 cr through NCDs
Bharti Airtel has received its board approval to raise up to Rs 10,000 crore through non-convertible debentures. The development comes within fortnight of Reliance Jio announcing additional investment Rs 30,000 crore in its network taking the cumulative investment in its business to over Rs 1.9 lakh crore.

 OTHER NEWS

BASF plans to launch 5 rice crop protection products in India - Positive read through for the stock
BASF   has introduced crop protection solutions for rice in India as it seeks to increase its share in the country and Asia-Pacific’s crop protection market. BASF will introduce five products this year including two fungicides and two herbicides, which will be launched in the first quarter of 2017 while another molecule will be launched in the later part of this year.

Organised jewellers will enjoy 35% -40% of domestic gold market by 2020 – positive read through for PC Jewellers, Tanishq, Kalyan Jewellers
According to a World Gold Council report - India's gold market: evolution and innovation, the organised jewellers will enjoy 35% -40% of the domestic gold market by 2020. In 2015, national chains – including Tanishq and Malabar Gold and Diamonds – accounted for around 7% of the market, while regional chains accounted for around 23%. These organised retailers have introduced sophisticated advertising and sales campaigns, effective inventory management systems and domestic and international brands, and have raised standards within the industry. The WGC report adds that the direction of travel is clearly towards the sector becoming more organised. International buyers, for example, have strict procurement policies that rule out many of the smaller workshops. And the orders from overseas and domestic organised retailers are often large; manufacturers need to be a certain size to be able to process these orders.

ITC to consider appointment Of Mr.Sanjiv Puri as CEO On Jan 27, 2017; likely to split role Of Executive Chairman Between Chairman & CEO w.e.f Feb 5
Tata Motors aims to be the third largest Car maker in India by March 2019. The company expects the recent products - Tiago and Hexa and the upcoming compact SUV (to be launched in 2017) coupled with other new launches to help the company increase its market share which currently stands at 5.1%. Positive read thru

Kotak Mahindra sells 2.1% in South Indian Bank for Rs 60 crore, the shares were offloaded at an average price of Rs 21.2 per share – Neutral read thru

Inox Leisure emerges as top bidder for SRS Cinemas acquisition
As per media report, Inox Leisure Ltd has emerged as the highest bidder for SRS Cinemas, the multiplex business of SRS Ltd. Inox has offered close to Rs225 crore for the theatre chain. The company is currently inspecting the assets of SRS Cinemas, which operates 62 multiplex screens across 22 cities in India

 MORE NEWS

James Hogan to step down as Etihad CEO
Japan's Nippon Paper set to buy Plus Paper Foodpac
CBI court remands 9 accused to judicial custody in KFA loan default case
Ankur Khanna quits as CFO of AirAsia India
Impose tax on cash withdrawal above Rs 50,000, panel on digital payments suggests PM Modi
Tata Sons’ Director Amit Chandra denies Cyrus Mistry allegations
Supreme Court rejects government plea to postpone BCCI case hearing by two weeks
Cyrus Mistry seeks legal waiver at NCLT
Idea Cellular moves HC against Trai penalty of Rs 950cr
Kapurs likely to steer away from Sona Koyo
New round of capital infusion for PSBs soon
Kotak Mahindra sells 2.1% in South Indian Bank for Rs 60 crore
Muthoot Microfin to raise Rs 130 crore from Creation Investments
Coal India to allow buyers to lift coal within three years under e-auction
Lupin launches Ortho-Cyclen tablets in US
Ajanta Pharma denies alert from USFDA, says supply is on
CBDT tightens screws on shell companies
'Unknown sources’ make up 69% of parties’ income
Nabard allowed to raise ₹20,000 cr for crop loans
BASF enters crop protection for rice with three products
BookMyShow acquires MastiTickets
OYO checks into more premium category
Lupin launches Ortho-Cyclen tablets in US
A start-up that offers group discount programme
PepsiCo goes for digital transformation
Apollo Sugar to double network to 100 clinics
ITC to split Chairman’s post
US President Trump speaks with PM Modi over phone, says WH press secretary
71% of donations to political parties from unknown sources
JSW bids Rs 25,000 cr for Bhushan Steel
Note ban squeezed gold demand to 650-750 tonnes: WCG
We are re-engineering our costs: D Shivakumar, chairman & CEO, PepsiCo
AirAsia India opts for leasing via tender route
CBI charge sheet opens way for Mallya extradition
Minimum import price on steel short-term step: Govt
Weathermen divided on El Niño
Snapdeal in talks with SoftBank to raise funds at lower valuation
Flipkart’s new CEO has his work cut out in the wake of top-level exits
US seeks enhanced India market access after Trans-Pacific Partnership pullout
Sanjiv Puri to be named ITC CEO, chairman's post may be split
CBI charges Vijay Mallya with fraud, criminal conspiracy
Actis in talks to promote new renewable energy platform, after Ostro success
Alibaba lifts forecast as new ventures bolster e-commerce
Ashok Leyland finance arm raises Rs250 crore through rights issue
Income-tax dept issues norms to determine residency status of companies
Inox emerges as top bidder for SRS Cinemas acquisition

 STOCK IN NEWS 
  • BookMyShow acquires Hyderabad-based MastiTickets
  • Pharma industry wants Budget to offer clarity on tax structure
  • Sun Pharmaceutical Industries is looking to sell its US subsidiary, Ohm Laboratories, as it looks to consolidate its operations in its biggest overseas market, according to a television report.
  • Ruias stake in Essar Steel to fall to 44% 
  • Sebi probes takeover code violations at United Spirits
  • Vedanta's power sales up 8% on commissioning of new units 
  • SAIL enhances rail production capacity to 2 mtpa 
  • Lupin gets USFDA nod for generic anti-depressant tablets
  • Siemens announces receiving order worth Rs 366 crore from ONGC

Tuesday, 24 January 2017

24 January 2017 - Views & News

MARKET INSIGHT

Markets are likely to open negative. The Nifty opened in the negative territory but took support at the gap area and reversed, which was quite positive for the day. Fresh long positions should be created only above 8461 for the targets of 8520 to 8580. On the way down, an immediate support exists at 8327.

Nifty Spot Levels

Support 8327 – 8293 – 8277
Resistance 8418 – 8445 - 8461

GLOBAL MARKET & INTERNATIONAL DATA UPDATE

• US stocks edged lower on Monday as early moves by President Donald Trump highlighting a protectionist stance on trade gave investors cause to rethink the post-election rally.
• In his latest executive order, Trump signed to formally withdraw the United States from the 12-nation Trans-Pacific partnership trade deal. 
• Trump has also vowed to renegotiate the North American Free Trade Agreement (NAFTA) with leaders of Canada and Mexico.
• The Dow Jones Industrial Average fell 27.4 points, or 0.14 percent, to 19,799.85.

Market Update:

Sgx Nifty +16 pts ‎Dow -27.40 pts ,Nsdq -2.39 pts , S&P -6.11 pts , Bovespa +1230 pts , Ftse -47 pts  , Dax -84 pts  , Cac -29 pts , Nikkei  -55 pts now , Crude @ $52.87 brl (+0.12 ), Brent @ $55.23 brl (-0.26) , Gold @ $1217.40 (+1.80), Silver @ $17.13 (+0.04), Euro @ $1.0761, JPY @ $112.7700, INR @ $68.2150

Today's Corporate Action 24th Jan  Ex Date

GOACARBON Interim Dividend - Rs. - 1.5000‎

Today's Key Result 24th Jan

 HDFC Bank, HCL Tech, ZEE Ent, Wockhardt, Biocon, Ajanta Pharma, Aptech, Bharat Bijlee, Bharat Finance, ICICI Pru, IDBI Bank, Inox Leisure, Kajaria Ceramic, Karnataka Bank, L&T Finance, M&M Finance, Nilkamal, PNB Housing Fin, TVS Motor,

TOP NEWS:

ALERT: With steel imports declining and domestic consumption picking up since the imposition of minimum import price in February last year, the Ministry of Steel has no plans to continue with the measure – Negative for steel companies like SAIL, JSW Steel and other mid-sized players

ALERT: Government to offer 10% equity of MOIL at 4.5-5% discount to market price – Negative; more supply at lower prices to hurt sentiments

Adani Transmission eyeing acquisition in power transmission segment; positive
Adani Transmission in advanced discussions to buy out South East UP Power Transmission Company Ltd, which is a holding company of Spanish infrastructure group Isolux Corsan Concesiones. The enterprise value estimates to be around $800-1000mn (Rs5500-6800crore) and is in the final stages and certain government approval are pending.

IDBI BANK: CBI arrests former IDBI Bank CMD – Negative read through 
In a stern action the CBI arrested on Monday eight people, including former IDBI Bank chairman Yogesh Aggarwal and the now-defunct airline's ex-CFO A Raghunathan, in a seven-year-old case related to Rs 900-crore loan default. The CBI also arrested IDBI Bank's ex-deputy managing director O V Bundellu and two other officials, SKV Srinivasan and R S Sridhar. KFA executives Shailesh Borkar, AC Shah and Amit Nadkarni were among the eight arrested.

United Spirits: Another open offer likely as SEBI probes possible takeover code violations by Diageo during acquisition of controlling stake in United Spirits – Positive

OTHER NEWS

Manpasand Beverages planning to double the capacity (3.7-4.0 lakh cases per day) in the next 12-18 month; capex would be done through money raised from recent QIP issue – long term positive for the stock
Manpasand Beverages Ltd is planning to increase its production capacity to more than double in the next 12-18 months. The company will set up four new manufacturing plants having total production capacity of 2 lakh cases per day as against the current 1.7 lakh cases per day. The new plants with 50,000 cases per day production capacity each will be set up at four different regions across India. The company's recent fund raising exercise of Rs 500 crore through QIP would be utilised for the expansion. The land has been acquired and construction at the three sites has already started at 3 locations, each of which will be located at Sri City in Andhra Pradesh, Varanasi in UP and Vadodara in Gujarat. 
View: The management is sensing huge opportunity in the domestic fruit juice market and cater the growing market through capacity enhancement. This is positive read through for the stock

Great Eastern Shipping: Greatship India, a wholly owned subsidiary of the Great Eastern Shipping company has contracted to sell its 1999 built Platform Supply Vessel “Greatship Disha”. The vessel is expected to be delivered to the buyers in Q4FY2017.

As per the media reports, Odisha Government has issued a show-cause notice to the Indian Oil Corporation Limited (IOCL) asking it for a reason to not withdrawn the provision of deferment of sales tax on the Paradip Refinery's finished products.

The Singapore Exchange (SGX) is developing a spot pricing index for the Indian and Middle East liquefied natural gas (LNG) markets in collaboration with inter-dealer broker Tullett Prebon. The firms expect to launch the index in the second quarter of this year. The aim of the index is to provide transparent pricing mechanism for the regions.

As per the media reports, Oil companies including ONGC have received notices from the tax department to pay service tax (around $1b in total) on cost petroleum and royalty paid to the government. ONGC is believed to have received a service tax demand of Rs2,000 crore. Oil companies are in talks with petroleum ministry and the same had assured that such service taxes will not be applied.

Ashok Leyland Tamil Nadu plant closed down operations early yesterday in the wake of protests on account of Jallikattu festivals. While the production impact is minimal, Ashok Leyland is unlikely to suffer any sales loss as it has sufficient inventory with dealers.

Punjab National Bank: Metlife identifies potential buyers for its stake in PNB JV, potential buyers are kotak insurance, Tata AIA and ICICI pru life
 MORE NEWS

USFDA notice to Hetero over conditions at Telangana unit
Complete e-KYC of mobile subscribers: Trai asks DoT
Banks tell Supreme Court action on Aircel will hit them too
Reliance Jio wave, demonetisation to make it a turbulent Q3 for Airtel, Idea, other telcos
Ratan Tata thinks himself as the chairman who never retired: Cyrus Mistry
Govt extends Economic Affairs Secretary Shaktikanta Das' tenure by 3 months
FRBM review panel seeks more fiscal space for government to increase spend on development
Winter chill to intensify in next few days: IMD
Suspicious bank deposits first in Income Tax’s probe queue
India Inc raises $2.8 bn in foreign borrowings in December
Vodafone to invest Rs 3,000 crore in Bengal over three years
Tata Sons realty arm buys Durg bypass road project
Bhilai Steel Plant inaugurates Rs 1200-crore Universal Rail Mill
Private Equity firms eye womenswear brand 'Soch'
India's first wind tender over subscribed despite offtake uncertainties: Bridge to India
Cyrus Mistry files fresh affidavit in Company Law Tribunal
Lupin gets USFDA nod for generic anti-depressant tablets
Okinawa to invest ₹270 crore to expand e-vehicle business
Suzlon bags 50.4 MW order from power utility in Gujarat
UltraTech to set up ₹2,600-cr plant in Madhya Pradesh
SAIL begins production of world’s longest single rail
Government to offload 10% stake in MOIL today
A double whammy for FPIs from April
Manpasand plans four new plants
Okinawa launches Ridge e-scooter at ₹43,702
FRBM panel offers little spending space to govt
Solar subsidies likely to end, sops for manufacturing on anvil
Diageo may have to make another open offer in USL
Ruia stake in Essar Steel to fall to 40%
FinMin pushes ministries to raise cash via bonds
Minimum import price of steel to go
Patanjali may source agriculture produce from Telangana: Kavitha
Amazon ropes in YouTubers Kanan, Biswa, Azeem, Sapan for comedy specials
Air India puts 57 over-weight crew members on ground duty
Election Commission clears 1 Feb budget date, bars state-specific announcements
Budget 2017: N.K. Singh committee favours new fiscal rules
Donald Trump pulls out of Trans-Pacific deal in bid to revamp US trade focus
RBI to set up corporation for insolvency resolution in the financial sector
Cyrus Mistry files fresh affidavit at NCLT, denies leaking sensitive documents
Vijay Mallya case: CBI arrests former IDBI Bank chairman Yogesh Aggarwal, 7 others
Sebi seeks forensic audit of MCX's trading software
OPG Power to raise Rs1,000 crore via Indian IPO
IBM touts Donald Trump-pleasing hiring plans while firing thousands
USL for franchise-based fixed fee model in popular liquor brands
Uber to bring UberEATS, its food delivery app, to India

 STOCK IN NEWS 

1. PNB Metlife identifies potential buyers for its stake in PNB JV, buyers are kotak insurance, Tata AIA and ICICI pru life 
2. Asian Paints to rxpand paint mfg capacity at Ankaleshwar Unit 
3. Advance Syntex listing of bonus shares Cholamandalam Investment - Brickwork Ratings assigns rating of BWR AA+ 
4. Mercator - QIP committee approved allotment of 2.5cr shares 
5. Asian Paints proposal to expand paint manufacturing capacity from 1.3lk KL to 3lk KL and synthetic resins & emulsions from 32k MT to 85k MT 
6. IFCI approved divestment of entire 45.5% stake in Hardicon 
7. BoB strike on 7 Feb 2017 by AIBEA, AIBOA, BEFI 
8. Central Bank of India approved premature buyback of NCDs worth Rs500cr 
9. GE Shipping subsidiary to sell Greatship Disha 
10. Manpasand Beverages to double production capacity in next 12-18 months 
11. Adani Power allotted 2.79cr shares to promoters on conversion of warrants 
12. USL eyes franchise model for its brands 
13. Oil firms face hit from Service Tax demand 
14. USL - Diageo may have to make another open offer in USL 
15. Essar Steel - Ruia stake in Essar Steel to fall to 40% 
16. Diamond Power: Allots 19.97 Cr Equity Shares At `41.28/Sh On Debt Conversion