}

Monday, 29 May 2017

29 May 2017 - Views & News

MARKET INSIGHT

The Nifty is likely to open flat. Nifty is into new orbit where it can face resistance at 9700 level. The support for Nifty is at 9500 level.

Nifty Spot Levels

Support 9532 – 9470 – 9400
Resistance  9634 – 9700 - 9780

GLOBAL MARKET

US stocks ended mixed on Friday ahead of the long holiday weekend. The S&P 500 and Nasdaq eked out record closing highs, and the S&P 500 posted a seventh straight session of gains, said a Reuters report.
The US market will be closed on Monday for Memorial Day, it said.
The Dow Jones Industrial Average ended down 2.67 points, or 0.01 percent, to 21,080.28.

MARKET UPDATE

‎Dow -2.07 pts ,Nsdq +4.94 pts , S&P +0.75 pts , Bovespa +858 pts , Ftse +29 pts , Dax -19 pts , Cac -0.52 pts , Nikkei +15 pts now , Crude @ $49.91 brl (+0.11), Brent @ $52.63 brl (+0.12) , Gold @ 1268.11 (+0.11), Silver @ $17.387 (+0.06), Euro @ $1.1174, JPY @ $111.2300, INR @ $64.533

Today's Corporate Action 29th May  Ex Date

YESBANK Dividend - Rs. - 12.0000

Today's Key Result 29th May

Auropharma Bhel BPCL L&T Power Grid A2Z Infra,Aban,Bajaj Elect,Balmer Lawrie, Bel,Camson Bio,Camson Seeds,Coal India,Dcm Shriram,Dreding Corp,Energy Develop,Escorts,Gayatri Proj,Gillander, GSFC,Gujarat Flouro,Harr Malayalam, ILFS&Transport,Jagran,Jp Associate,Jp Power,Jubliant Food,KCP Sugar,Kirloskar Elect,Majestic Auto,Man Infra,Majestic Auto,NH,NHPC,NTPC,OIL,Renuka Sug,Rpp Infra,Sonata Soft, Tfci,Tidewater,TNPL, Ugar Sug,UJAAS,Yuken  AlphaGeo, BanariSug, BEL, BHEL, BIL, BPCL, Brooks, CerebraInt, CLLimited, Coal India, CUB,  DSKulkarni, Dynamatech, EDL, EKC, Escorts, GNFC, GreenPly, GSFC, GuficBio, GujCarb, GujFluoro, IL&FS Trans, Jagran, JindalSaw,  KRBL, Lambodhara, Lovable, LT, Manpasand, Max India, MMTC, Naukri, Nesco, Powergrid, Purvankara, Rana Sugar, Riddhi SIddhi Gluco, Ruchi Soya, Sadbhav, ShilpaMedi, SJVN, SundrmBrak, Suprajit, Talbros, TFCIL, TGBHotels, TNPL, VardmnPoly

TOP NEWS

Indian Oil Corporation (IOCL): Government is planning to sell a 3% stake in IOCL to fetch around Rs6400 crore as part of its disinvestment plan for FY2018 as per media reports  - Negative read thru (expected to come at discount to market price); we have already downgraded our stance to neutral from positive on the stock.

Hindustan Petroleum Corporation Limited’s board of directors have recommended issue of bonus shares in the ratio of 1 equity shares for every 2 existing equity shares subject to approval of the shareholders.

Maruti Suzuki Targets to sell 3 lakh cars annually with automatic transmission by 2020; realizations to be higher: Positive read thru…..(details in other news)
  
OTHER NEWS

Maruti Suzuki Targets to sell 3 lakh cars annually with automatic transmission by 2020; realizations to be higher: Positive read thru.
Maruti Suzuki India is targeting to sell 3 lakh units of vehicles equipped with different automatic transmission technologies by 2020. Initially the company aims to sell 1.5 lakh vehicles by end of FY2017-18 and then achieve the 3lakh vehicle mark by 2020.Maruti Suzuki currently sells around 94,000  vehicles annually with AGS (automated gear shift), AT (automatic) and CVT (continuously variable transmission). It is counting on the more affordable AGS technology to drive sales growth of cars with automatic transmission. Focus on Automatic transmission technologies would help the company boost sales volumes and gain market share.

M&M: Mahindra & Mahindra is eyeing a capacity of 5000 electric vehicles per month by 2019 from the current capacity of 400 vehicles per month. The company sees the demand for electric vehicles coming from the shared mobility space. 

Reliance Industries Ltd is targeting to double its market share in fuel retail business to 10% in the next two-three years from currently around 5% as per media reports.

Raymond lines up Rs 350 cr for capex & retail expansion. Of the Rs 350 crore, Rs 200 crore will be allocated to manufacturing expansion, both in India and offshore, while Rs 150 crore will go towards retail expansion. This will help ramp up its apparel sale and grow the fabric business over the next few years.  The company is setting up a large suiting manufacturing plant in Ethiopia in Africa that will be operational this year and has also undertaken a significant expansion in Amravati in Maharashtra for cotton fabric. Raymond is also looking to expand its retail presence to about 1,500 stores by 2020 – long term positive

Idea Cellular: Brookfield Asset Management in talks to buy towers of Idea, Vodafone
According to media news, Brookfield Asset Management is in advanced talks with Idea Cellular and Vodafone India to buy the standalone telecom towers business of the two mobile phone companies in a combined deal. The combined enterprise value of the towers is likely to be about $1 billion (Rs 6,454 crore), though the sellers have been pushing for a valuation of over $1.3 billion.

Petronet LNG: India is in formal discussion with Mauritius government to set up of LNG plant in Mauritius as per the media reports. Although the details about capacity and capex of the plant has not been disclosed but Indian government has asked Petronet LNG to send a team to Mauritius to work out modalities of the LNG plant.

MORE NEWS 

Brookfield in talks to buy towers of Idea, Vodafone
Regulators RBI, Sebi step up NSE algo probe
EPFO to invest Rs 20,000 crore in equities in 2017-18
FPIs stay bullish on India, pump in $4 billion in May
RBI guidelines on P2P lending platform likely by July
Various tax slabs under GST worry traders: CAIT
IOC overtakes ONGC, become most profitable PSU
Next big wave of liberalisation in FDI on the cards
Taxing farm income is 'politically challenging', says top economist
AIITEA mulls IT Employees United Front to address job cuts
Coal India's April coal despatch grows 6% to 45 mn tonnes
Maruti Suzuki targets selling 3 lakh automatic cars annually by 2020
Introduce indemnity clauses with suppliers on tax compliance: Expert
India is second most complex tax jurisdiction: Deloitte
CBDT committee to review ‘naming, shaming’ of tax defaulters 
PMO to take a call on imposing customs duty on mobile phones 
Cognizant layoff plea closed in favour of sacked staff: Govt
RCom Q4 loss at Rs. 948 cr on disruptive pricing, competition
Fairfax sells 12.18% stake in ICICI Lombard General Insurance
Adani Power’s Q4 loss widens to Rs4,960 crore after SC decision on compensatory tariff
Raymond to invest Rs350 crore in capex, retail expansion
P-note investments hit 4-month low of Rs1.68 trillion in April
Severe underemployment more serious than unemployment: Niti Aayog
Every deptt should disclose demonetisation details: CIC
GST gains to be ‘far less’ than initially envisioned: Nomura
Poor show by banks, private investors challenge for economy: Arun Jaitley
Government proposes strict norms for registered valuers
ITC Q4 net profit up 12% to Rs 2,669.47 cr
Tech Mahindra Q4 net drops 31% to Rs588 cr
RCom hit by mobile price war
Sugar production may see marginal increase
Patanjali joins traders, industry in demanding lower GST rates

STOCK IN NEWS

1. Ashok Leyland to have three-pronged approach for electric buses
2. GST, monsoon to ensure cement prices remain subdued in near term
3. IOC seeks 2,700 acres to expand Paradip petrochem project
4. Torrent Pharma turns towards Brazil, Germany as share of US biz halves
5. Largely unaffected by visa issue, planning EU expansion: Mphasis
6. IOC overtakes ONGC to become India's most profitable PSU
7. Coal India's April coal despatch grows 6% to 45 mn tonnes
8. DLF's FY17 sales booking dips 63% to Rs 1,160 cr due to slowdown in demand
9. BSNL plans to make satellite phone service accessible to all by 2019
10. Maruti Suzuki targets selling 3 lakh automatic cars annually by 2020
11. NTPC emerges as key off-taker of private solar power projects
12. DLF to see money flow in from GIC stake sale by October
13. L&T Realty, the property development arm of construction and engineering giant L&T, is betting on bigger projects, lower pricing and faster execution to boost its growth. 
14. Adani has to pay royalties for coal mine: Australia state premier
15. Bharti Airtel is offering 1,000 GB free data on select broadband plans

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