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Thursday, 25 May 2017

25 May 2017 - Views & News

MARKET INSIGHT

Markets are likely to open positive. However, today being expiry in FNO segment, we can see volatility during the day. Till 9300 holds on a closing basis, the short-term bias remains positive. On the way up, 9400-9430 is a key hurdle zone to keep a tab on. The overall short-term target on the upside is 9600-9655.

Nifty Spot Levels

Support 9341 – 9307 – 9269
Resistance  9430 – 9505 - 9560

GLOBAL MARKET

Strides Shasun gets USFDA nod for drug used in dementia treatment
[25/05, 10:02] Paul - Sharekhan Hosur: • Wall Street rose, while the US dollar and bond yields fell on Wednesday after Federal Reserve meeting minutes signalled a gradual approach to interest rate hikes, and oil prices dipped on a draw of US gasoline stocks that was smaller than expected.
While the yield curve flattened, the S&P 500 closed at a record high after minutes from the US central bank's May 2-3 policy meeting indicated the Fed would gradually raise rates and wind down its USD 4.5 trillion of bond holdings.
The Dow Jones Industrial Average rose 74.51 points, or 0.36 percent, to 21,012.42.

MARKET UPDATE

‎Dow +74.51 pts ,Nsdq +24.31 pts , S&P +5.97 pts , Bovespa +594 pts , Ftse +29 pts , Dax -16 pts , Cac -6 pts , Crude @ $51.55 brl (+0.19), Brent @ $53.85 brl (-0.09) , Gold @ 1257.84 (+4.74), Silver @ $17.188 (+0.07), Euro @ $1.1231, JPY @ $111.5300, INR @ $64.770

Today's Corporate Action 25th May  Ex Date

ADVENZYMES Stock  Split From Rs.10/- to Rs.2/-
GDL Interim Dividend - Rs - 4.0000
HINDCOMPOS Bonus issue 1:2
HINDCOMPOS Stock  Split From Rs.10/- to Rs.5/-
MERCK Dividend - Rs. - 11.0000
RAYMOND Dividend - Rs. - 1.2500
SINTEX Spin Off 
TRIDENT Final Dividend - Rs. - 0.3000

Today's  Result 25th May

Acrysil, Adlabs, AIAEng, AshokLey, Bajaj Hind, BalKrisInd, Banswara, BF Invest, BFUtility, Bodal Chem, Bosch, Britannia, Butterfly, CIL, Cipla, Concor, Daawat, Delta, Dhampur Sug, DharFin, Disa India, EsabIndia, ExcelCrop, ExpoGas, GarwarPoly, GSPL, Hawkin, HeidelBerg, Heritge Food, HONAUT, HotelLeela, IOC, ITI, JindalPoly, Kalyani Inv, KiriIndus, KSL, LakshmiMil, Liberty Shoe, LuxInd, Manappuram, MEP, Mphasis, NMDC, Page, PhilipCarb, PloyTex, PrismCem, Punjab Chem, RadioCity, Redington, Repco Home, RosselLInd, Salzer, Scooter, Shreyas Shipping, SHristi, Star Paper, Subex, Thomas Cook, Timex, Timken, TPL Plast, Vadilal Ind, VST Tillers, Wabag, WstCstPapr

TOP NEWS

HCL Technologies proposes Rs3,500 crore share buy-back at 17% premium
HCL Technologies announced that it will buy-back shares at Rs1,000 per share, a 17% premium over Yesterday’s closing price of Rs 855. The company is proposing an offer for buy-back of equity shares for cash on a proportionate basis through tender offer process. HCL Tech mentioned Letter of Offer will be to equity shareholders of the company as on record date of 25 May

Maruti Suzuki plans to upgrade engines and introduce AMT in more models; aims at 2 million sales by 2020 (CAGR growth of 9%); positive….(detail in other news)

Petronet LNG (PLNG): An agreement has been reached between government of India, Sri Lanka and Japan to set up a $250million LNG terminal in the west coast of Sri Lanka with a 50:50 joint venture between PLNG and a Japanese company - long term positive for PLNG.


 OTHER NEWS

Maruti Suzuki plans to upgrade engines and introduce AMT in more models; aims at 2 million sales by 2020 (CAGR growth of 9%); positive
Maruti Suzuki India plans to upgrade engines, introduce new platforms and bring in more models with various level of automatic transmissions as it aims to sell two million units by 2020. Maruti currently sells around 94,000 units with AGS (automated gear shift) and aims to increase the contribution to 1.5 lakh units in current fiscal and 3 lakh units by 2020. Maruti is also upgrading the engines in wake of introduction of corporate average fuel efficiency (CAFE) norms.

Mahindra & Mahindra to scale up production of battery packs in India to bring down the cost:
Mahindra & Mahindra has announced the ramp-up of a new facility at Chakan to expand capacity of creating battery packs for its electric vehicles. The move is a part of a strategy to scale up production battery packs India and bring down cost. Currently the company assembles the battery packs in India at its facility in Bengaluru with a capacity of 400-500 units per month, which it plans to scale up to 1000 units initially and then to 5000 units per month with the commissioning of the new facility. Positive read thru.

SBI to sell bad loans worth Rs1,471 crore to ARCs in bid to clean up books – Positive read thru

Bharat Financial Inclusion is evaluating all options for stake-sale and according to the management it is open to complete takeover by a bank or a strategic 10% stake sale – Positive read thru

Inter-ministerial meet on commercial coal mining on May 25, 2017. The government had earlier said it will kick-start private commercial coal mining in the country in FY2018 with the auction of four mines.

Reliance Industries (RIL) has undertaken planned shutdown at polyvinyl chloride (PVC) plant and it is expected to remain shut down for around 3weeks. The plant has a production capacity of 315,000 mt/year.

HDFC Ltd and Max Financial have clarified that they have not received any communication either from the government or regulator for the proposed amalgamation of HDFC Life and Max group entities

Infosys launches Boundaryless Data Lake
Powered by its Information Grid Solution on Amazon Web Services (AWS), Infosys launched Infosys Boundaryless Data Lake for enterprises to improve their operational efficiencies. The solution allows enterprises to leverage the insights it provides to reduce time-to-market, create new revenue models, reduce latency and improve operational efficiencies through near real-time decision making.

MORE NEWS 

Union Cabinet scraps 25-year old FIPB
State oil cos like ONGC, GAIL plan Rs 87K-cr capex
Moody's downgrades China's rating in 30 years
RBI may have Dy Guv from pvt sector for first time
Govt nod to public procurement policy for local goods
Govt hikes sugarcane FRP by 11% for 2017-18 
China cracks down on top brokerages in clean-up effort
UN, WB to enjoy tax exemptions
Make in India gets sourcing push from govt
India cancels 13 Gw coal-based plants; sign of energy transformation: Study
PSBs gain approval to raise capital but investors unsure, says report
IFC to invest up to $40 mn in Kedaara Capital's 2nd cap fund
ArcelorMittal agrees on concessions to seal Rs 5,800-cr JV with SAIL
Reliance Infra InvIT gets SEBI nod; IPO in 2 weeks
I-T unearths 400 benami deals, attaches Rs. 600-cr properties
Strides Shasun gets US FDA nod for dementia drug
BSNL offers satellite phone service to government agencies
Lupin Q4 net profit dips 49.61% to Rs. 380.21 cr 
Bharat Forge Q4 net profit rises 25% to over Rs. 207 cr
HCL Tech to buy back shares at 17% premium for Rs3,500 crore
Azim Premji fund seeks clarity on Snapdeal sale in letter to board: report
Tata Power needs to shed asset overload to drive growth
General Motors India starts discussions with dealers for transition plan
NSE asks brokers to have in place insurance cover for FY18
COAI moves Supreme Court against Rajasthan government order on removal of cell towers
CREDAI seeks abolition of stamp duty on landed property
NHPC working on five hydro power plants in Pithoragarh
Sebi to examine Deloitte’s audit on NSE’s co-location facility
NPA ordinance: PMO tracking RBI progress
Equity market boom drags down commodity futures
Job growth slows, pet schemes yet to build up steam
GST: Industry seeks early relaxation of penalties

STOCK IN NEWS

Videocon: Selling assets to repay debt
Swedish retail giant Ikea won't bank on e-commerce to drive India growth
FIIs/FPIs restricted to buy more shares in Fortis, Claris
Airtel, Voda tried to block Jio entry, Trai tells DoT
Exports, non-auto rebound to add muscle to Bharat Forge's sales
Prabhat Dairy eyes 50% business from B2C products by 2020
PE firm DEG sells shares worth over Rs 222 cr in Equitas
ITC awarded Porter Prize 2017 for Excellence in Corporate Governance
Dish TV post Rs 28 cr Q4 loss, subscription revenue falls 11%
GST: M&M to set up new battery assembly unit near Pune after 12% levy
Sun Pharma to create drug used for treatment of psoriasis, gets USFDA's nod

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