}

Friday, 26 May 2017

26 May 2017 - Views & News

MARKET INSIGHT

Nifty is likely to open on a flattish to negative note based on the global cues. Bias remains positive for the day as long as nifty holding 9430 levels

Nifty Spot Levels

Support 9430 – 9400
Resistance  9532 - 9600

GLOBAL MARKET

US stocks rose on Thursday, with the S&P 500 and Nasdaq Composite hitting new highs, helped by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers.
Fed officials also proposed a plan to wind down its USD 4.5 trillion of debt securities, including a limit on how much would be allowed to fall off the balance sheet each month.
The Dow Jones Industrial Average was up 78.86 points, or 0.38 percent, to 21,091.28.

MARKET UPDATE

Dow +70.53 pts ,Nsdq +42.23 pts , S&P +10.68 pts , Bovespa -30 pts , Ftse +2 pts , Dax -21 pts , Cac -4 pts , Nikkei -40 pts now , Crude @ $48.94 brl (+0.04), Brent @ $51.33 brl (+0.06) , Gold @ 1257.84 (+4.74), Silver @ $17.188 (+0.07), Euro @ $1.1211, JPY @ $111.7400, INR @ $64.555

Today's Corporate Action 26th May  Ex Date

JKPAPER Dividend - Rs. - 1.5000
PLASTIBLEN Dividend - Rs. - 2.5000
SBIN Dividend - Rs. - 2.6000

Today's Key Result 26th May

 63Moons, AarveeDenim, ACIL, Adhunik, ADSL, AHLWest, Alkem, Ambit, Anuhphr, AsahiInd, AsahiSong, BEML, BirlaCorp, Blue Coast, Cals Ref, CantaBil, Carnatin, Celebrity, CGPower, Coralab, Cox&Kings, Crompton, Divis Lab, DLF, Eros Media, Essar Shipping, Excel Indus, Finolex Ind, Good Year, GujAlkali, HBL Power, HindPetro, IFB Ind, IndHotel, Indoco, Indramedco, IndTerrain, ITC, Jindrill, Kamat Hotel, Kwality, MahSeamles, Mndhana, MGL, NagarFert, NagarOil, Navneet Edu, NBCC, NippBatry, NRBearing, ONGC, Onmobile, OriddaMine, PFC, Rico Auto, SaintGobain, SKFIndia, STC India, SudarsChem, Sun Pharma, SunTeck, Sun TV, Tata Chem, TechM, TechnoTorntPharm, Trent, TV Today, UniPly, VideoInd, Walchannag, Wimplast

TOP NEWS

Dr Reddy’s Srikakulam formulation facility (SEZ) Unit 2 completed successful audit by the USFDA without any observations – Positive for Dr Reddy; Clearance of Srikakulam API facility  & Duvvada still awaited.

Divis: As per media reports Health Canada has said that Divi’s Labs Unit 2 is Non-compliant With Good Manufacturing Practices - Negative for Divis

Fortis Healthcare board approves to enhance ceiling limit for FIIs upto 75 percent – positive read through for the stock

Banking sector: An important meeting between RBI officials, Big investors, ARCs and other stakeholders will be held tomorrow to discuss and decide on further course of action regarding the NPA ordinance and how better implement & achieve NPA resolution – Positive read thru

OPEC led oil production cut extension by 9months to March-2018 - weakness in oil prices on OPEC decision would be negative for upstream companies but positive for refining and marketing companies 
OPEC and non-OPEC oil producing nations have agreed to extend the oil production cut of 1.8mbpd till March-2018 as compared to the initial agreement which was to expire in June-2017. The extension in production cut timeline to balance oil demand and supply is below the street expectations. Any fall in oil price post the OPEC decision would be negative for Upstream PSUs (ONGC and Oil India) and positive for refining and marketing companies (RIL, IOCL, BPCL and HPCL). 

 Glenmark Pharma receives USFDA approval for Olmesartan Medoxomil Tablets  (gBenicar) used to treat high blood pressure. The drug shall be manufactured at Goa plant and has US sales of ~$ 950 mn in US – Positive for Glenmark; stock is up by 1%+. Aurobindo & Lupin are other players who have also received approval for the product recently….(9:29am)

OTHER NEWS

Hatsun Agro products meet highest quality standards for its dairy products; remains one of largest player in the South India dairy market – positive read through for the stock
Hatsun Agro Product has stated that its products including Arokya, branded liquid milk, meet the highest quality standards. The company directly procures milk from over 4 lakh farmers spread across 10,500 villages across South India. Payments to farmers are done in a transparent manner and paid directly into their bank accounts. The company has a modern infrastructure to chill and process the milk with over 10,150 collection centres, 98 chilling centres and 395 bulk coolers and over 2,400 distribution centres with cold chain infrastructure. Arokya Milk and Hatsun Curd are the largest brands in their segments and the company is also known for its flagship Arun Ice Creams, Hatsun branded dairy products and Santosa cattle feed. Hatsun Agro’s products are exported to over 40 countries globally.

Ashok Leyland to focus on other business; truck’s share of business to come down to 50% from 62% currently over the next 3-5 years; positive read thru
Ashok Leyland is focusing on other business to reduce dependence on the cyclical domestic truck sales. Ashok Leyland would ramp presence in the LCV segment (plans to introduce one new product every quarter), export markets (by tapping new geographies) and defence business. The company intends to bring down the share of truck business to 50% over the next 3-5 years as compared to 60-62% currently. In line with the this the company also has plans to ramp up the production of electric vehicles, for which its has earmarked a capex of Rs 500 Crs for FY2017-18.

Infosys announces strategic alliance with HP Inc. to accelerate Digital Transformation for the Enterprise
Infosys and HP Inc. launched joint Retail Point of Sale (RPOS) and Enterprise Device as a Service (DaaS) solutions to help businesses accelerate digital transformation as part of the HP Global System Integrator (GSI) Alliance Program. The joint RPOS solution offers a digital approach across the supply chain, enabling real-time collaboration between shoppers, retailers and vendors at the point of purchase, providing a true omni-channel experience.

Airtel and Idea may launch VoLTE by September to counter Reliance Jio
Bharti Airtel, Vodafone India and Idea Cellular are likely to launch voice over LTE or VoLTE services by the end of September as part of their efforts to upgrade technology and compete better with the new entrant Reliance Jio Infocomm.

MORE NEWS 

GST to allow companies to claim refund
Bankers fear telcos failure can trigger defaults
Opec extends crude oil output cuts by 9 months
Govt may sell 3% in IOC for over Rs 6000 crore
HDFC among top 10 financial services cos globally
RBI allows co-op banks to issue mobile wallets
Trai bars discriminatory tariffs to same set of users
100% FDI in aviation threat to national security: FIA
Public procurement: Industry waits for $650-bn opportunity
Raymond stares at Rs 650-cr loss as Singhanias fight over JK House
L&T, Punj Lloyd plan to tap Rs 2 lakh-cr defence orders
Dr Reddy's SEZ unit completes USFDA inspection for II time
Govt to start selling crop insurance policy at POs, CSCs
Cost of demonetisation: 1.52 mn casual workers in eight sectors lost jobs
Lupin: Long-term US prospects remain positive
PM calls for indigenous manufacture of medical equipment
January-March quarter sees robust M&A deals: EY study
‘Export target of $900 billion by 2020 not feasible’ 
Ashok Leyland’s revenues cross ₹20,000 crore in 2016-17
Videocon shares continue free fall, tank 48% in 4 days
Thyssenkrupp, Tata Steel expect €400-600 million of potential savings after merger
Birla Sun Life AMC changes names of 3 monthly income plans
Rupee strengthens against US dollar on Fed rate signal
IDBI Bank plans to raise more capital as part of its turnaround plan
NPPA fixes price caps for 30 more formulations
India retains world's highest FDI recipient crown: Report
India’s weak risk profile affects investor reward: Fitch unit
Government may trim $900 bn shipments target in FTP review: FIEO
US jobless claims rose slightly to 234,000 last week
Govt’s structural reforms steps in the right direction: UBS
Big corporate firms, PSUs, realtors keen on buying Sahara assets
Cipla’s net loss narrows to Rs 62 cr in fourth quarter
IOC quarterly net jumps 85% on inventory gains, higher margins
Bail granted to five accused in coal case against Jindal

STOCK IN NEWS

1. Ashok Leyland seems in top gear with market share, margin gains
2. Moody's downgrades IDBI bank; lender says govt support continues
3. DLF in talks with global entities in co-work segment
4. Cognizant allays layoff fears, says local hiring to continue as before
5. Vedanta eyes higher aluminium output on strong LME, low alumina prices
6. Idea adds Mumbai circle, completes pan-India 4G rollout
7. Dr Reddy's SEZ unit completes USFDA inspection for second time
8. Ashok Leyland swings back into profit in Q4 as vehicle sales grow
9. Coal India wins tax-cut boost as environmentalists fret

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