}

Thursday, 27 April 2017

27 April 2017 - Views & News

MARKET INSIGHT

 The Nifty is likely to open flat on Wednesday in opening trade tracking muted handover from Wall Street.  If the momentum continues, it is on track to hit 9350-9380 ahead of April month’s expiry on Thursday.

Nifty Spot Levels

Support 9274 – 9180 - 9088
Resistance 9367 – 9430 - 9500

GLOBAL MARKET

 • US stocks ticked lower on Wednesday following two sessions of strong gains as strong corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut.
• The proposal from the Trump administration slashes tax rates for businesses and on overseas corporate profits returned to the country. 
• It offered no specifics on how it would be paid for without increasing the deficit.
• The Dow Jones Industrial Average fell 21.03 points, or 0.1 percent, to 20,975.09.

MARKET UPDATE

‎Dow -21.03 pts ,Nsdq -0.27 pts , S&P -1.16 pts , Bovespa -286 pts , Ftse +13 pts , Dax +5 pts , Cac +10 pts , Nikkei -39 pts now , Crude @ $49.32 brl (-0.30), Brent @ $52.08 brl (+0.01) , Gold @ 1268.87 (+4.67), Silver @ $17.499 (+0.06), Euro @ $1.0908, JPY @ $111.1900, INR @ $64.055

Today's Corporate Action 27th Apr  Ex Date

ELANTAS Dividend - Rs. - 4.5000
MOLDTEK Interim Dividend - Rs. - 0.3000

Today's Key Result 27th Apr

Kotak Bank(977 Cr +40% Yoy ) M&M(651 cr +12% Yoy) Maruti(1758 cr + 55% Yoy) Biocon,Gtl Infra,Hatsun Agro,Indiabulls Real Est,Indiabulls Vent,Mahindra Cie, Mosl,Rel Capital,Sqs Ind,Sygene Int,Tata Elxsi,Tvs Motor,Ujjivan Fin,Uttam Sug Source-Cogencis
TOP NEWS

Jubilant Lifescience: National Green tribunal (NGT) orders closure of 13 industries (Jubilant Lifescience is one of them) situated in Gajraula, Uttar Pradesh, after inspections found them violating pollution norms. – Negative for Jubilant Lifescience…(detail in other news)

Lupin: As per media report, Lupin’s Goa plant has been issued Form 483 , with three observations. Observations cited states: 1)No written procedures for production & process Controls; 2) Failure to review any unexplained discrepancy & failure of a batch; and 3) Control procedures not established that monitor output of manufacturing processes – Negative for Lupin; Goa is one of the key plant for Lupin (~20% contribution to total sales); Management confirmation and clarification awaited.

Cadila receives USFDA approval for Cholestyramine for Oral Suspension (will be manufactured at Baddi formulation facility), a cholesterol lowering agent – Positive for Cadila.

Tata Motors aims to sell 250,000 passenger vehicles in domestic market in FY2018 (45% growth) backed by new launches; aims to make domestic operations profitable by FY2019; positive read thru …..(details in other news)

Government imposes anti dumping duty on TDI (toluene diisocyanate) Chemical; GNFC looks to hike domestic market share in the TDI space; Positive for GNFC…..(details in other news)

L&T- Ministry of Defence to seek fresh bids from L&T & Reliance for Rs20,000 crore warship project; sentimentally positive for L&T

 OTHER NEWS

Tata Motors aims to sell 250,000 passenger vehicles in domestic market in FY2018 (45% growth) backed by new launches; aims to make domestic operations profitable by FY2019; positive read thru
Tata Motors aims to sell 250,000 units of cars and utility vehicles in FY2018 backed by new launches (Tiago hatchback, Hexa cross-over and Tigor sedan). FY2018 sales target implies a 45% growth over FY2017 and would be the highest sales in last four years. Tata Motors is also aiming the domestic operations to swing back to profitability by 2018-19. Under the current CEO, Tata Motors is executing a strategy to reduce vehicle platforms from the current six to two and has also signed an agreement with Volkswagen AG for a manufacturing tie-up to help the firm utilise its capacity better. Positive

Government imposes anti dumping duty on TDI (toluene diisocyanate) Chemical; GNFC looks to hike domestic market share in the TDI space; Positive for GNFC
The Government has proposed an anti-dumping duty of USD 140-400/tonne to be levied on imports of TDI (toluene diisocyanate) from China, Korea and Japan. TDI is a key ingredient used in the manufacture of plastics and synthetic fibers. GNFC is the country’s only producer of TDI and has a market share of 50% in the domestic market. After the imposition of anti-dumping duty the company expects to increase its market share as cheap imports would be restricted.

Jubilant Lifescience: National Green tribunal (NGT) orders closure of 13 industries (Jubilant Lifescience is one of them) situated in Gajraula, Uttar Pradesh, after inspections found them violating pollution norms. – Negative for Jubilant Lifescience
The industrial units to be closed are Jubilant Lifesciences Ltd (distillery unit), Jubilant Industries ltd (Polymer unit), Jubilant Lifesciences ltd (chemical unit -1), Jubilant Lifesciences ltd (chemical unit -2), Jubilant Agri & Consumer Products, Jain Distillery Pvt Ltd, Teva API India Ltd, Insilco Ltd, Umang Dairies Limited, Dairy India Private Limited, Coral Newsprints Limited, Kamakshi Paper Mill and Mohit Petrochemicals Private Limited.

Somany Ceramics: The expansion of Sanitaryware Plant of Somany Sanitary Ware Private Limited (a Subsidiary Company) is successfully completed and commercial production has commenced from April 26th, 2017. As a result of this expansion, the capacity of plant has increased from 3.03 lacs pieces per annum to upto 11.50 lacs pieces per annum. Positive read thru for the stock.

Jaiprakash Associates: The principal & interest due in respect of 11.75% Non Convertible Debentures and interest due in respect of 12.00% Non Convertible Debentures remain unpaid for more than three months as on April 26, 2017 as per company’s announcement. Negative read thru for the stock.

Reliance Industries LImited (RIL) has entered into a license agreement with Resysta (a German company), which gives RIL exclusive rights to produce and market RelWood (a natural fiber polymer composite) in India. The compound will be the raw material for production of sheets and profiles used in wide range of wood and plywood applications.

Infosys launches Infosys Nia (the next generation integrated AI Platform)
Infosys announced the launch of Infosys Nia, the next-generation Artificial Intelligence Platform building on the success of the Company's first-generation AI platform, Mana, and AssistEdge. Together, both these products have amassed 50+ clients and 150+ engagements across all industry sectors, within a year of operations. Infosys Nia can predict variability in manufacturing and material cost, while also reducing product development cycle times.

Petron Engineering receives Work Order from M/, for Building Structure Works at Goregaon (West) for a total Value of Rs 110cr , positive read-thru

Inox Leisure commenced operations at Multiplex Cinema, Pune - 4 screens and 662 seats 

Zee Entertainment enters Latin America
Zee Entertainment Enterprises announced its expansion into Latin America with the launch of its Spanish language Bollywood movie channel, Zee Mundo, in Mexico and Ecuador.Zee Mundo will be available in Mexico on Sky, a leading Pay-TV satellite provider, and on TV Cable in Ecuador.

STOCK IN NEWS 

1. Singh brothers question Daiichi allegations of misrepresentation in HC
2. NTPC's Rs 2,000-cr Masala Bonds oversubscribed
3. Setback to India as international panel rejects stay on Cairn arbitration
4. Abbott's stent withdrawal plea rejected
5. APSEZ inks pact with France's CMA CGM to operate Mundra Port
6. Housing sales up 13% in Jan-Mar at 51,700 units: PropTiger
7. Kalyan Jewellers acquires online jewellery firm Candere
8. IOC gets green nod to revamp Bongaigaon refinery at Rs 4,185 crore
9. PVR expands IMAX screen footprint
10. Tata Motors sees GST good for CV growth in H2FY18

No comments: