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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

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