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Thursday, 10 August 2017

10 August 2017 - Views & News

MARKET INSIGHT

Markets are expected to open weak. Overall technical parameters warrant revising the short term trend from up to down towards the 20 WMA, which is near 9600. On the way down 9835-9810 is an intermediate support zone to watch out for. On the other hand, 10088-10138 would be the major hurdle zone for Nifty.

Nifty Spot Levels

Support 9835 – 9792 – 9709
Resistance  10000 – 10088 - 10138

GLOBAL MARKET

• US stocks clawed back losses late on Wednesday as investors appeared to brush off geopolitical concerns after falling in the wake of US President Donald Trump's "fire and fury" warning to North Korea.
• Bargain-seeking investors instead turned their focus to strength in the global economy and earnings toward the end of an active trading day.
• The Dow Jones Industrial Average fell 36.64 points, or 0.17 percent, to end at 22,048.7.

MARKET UPDATE

Sgx Nifty  +3 pts Dow -36.64 pts ,Nsdq -18.13 pts , S&P -0.90 pts‎, Bovespa -227 pts , Ftse -44 pts , Dax -138 pts , Cac -73 pts , Nikkei  +19 pts now , Crude @ $49.59 brl (+0.03), Brent @ $52.83 brl (+0.03) , Gold @ 1285.95 (+1.65), Silver @ $16.874 (+0.01), Euro @ $1.1758, JPY @ $110.0600, INR @ $63.899

Today's Corporate Action 10th Aug  Ex Date

ADCC Bonus issue 1:10
DCMSRMIND Final Dividend - Rs. - 6.5000
DWARKESH Dividend - Rs. - 10.0000
DWARKESH Stock  Split From Rs.10/- to Rs.1/-
DYNAMIND Dividend - Rs. - 1.0000
GPCL Bonus issue 1:20
HEXAWARE Interim Dividend - Rs. - 1.0000
INDOBORAX Dividend - Rs. - 1.5000
JAYBARMARU Dividend - Rs. - 2.5000
JBMA Dividend - Rs. - 2.0000
JINDALPOLY Final Dividend - Rs. - 1.0000
KPIT Dividend - Rs. - 2.2000
MANPASAND Dividend - Rs. - 1.0000
MINDACORP Final Dividend - Rs. - 0.3000
MORARJEE Dividend - Rs. - 1.4000
MRPL Dividend - Rs. - 6.0000
MUNJALSHOW Dividend - Rs. - 4.0000
PRECWIRE Final Dividend - Rs. - 2.2500
SUNDRMFAST Dividend - Rs. - 2.8000
TATAPOWER Dividend - Rs. - 1.3000

Today's Key Result 10th Aug

63MOONS, ADANIPOWER, ADANITRANS, ALCHEM, ALLCARGO, ARCHIES, ASAHIINDIA, BALAJITELE, BANARISUG, BARTRONICS, BHARATFORG, BHEL, BOMDYEING, BSL, COFFEEDAY, DAAWAT, DEEPAKFERT, DHANUKA, DWARKESH, ESSELPACK, GAIL, GESHIP, GPPL, GREENPOWER, GSPL, GUJGASLTD, GULFPETRO, HANUNG, HATHWAY, HERITGFOOD, HFCL, HIKAL, HIMATSEIDE, HINDUJAVEN, ICIL, IFCI, IOB, IVP, JBFIND, JKIL, JMCPROJECT, KAJARIACER, KALYANI, KERNEX, KMSUGAR, KOHINOOR, KRBL, LAURUSLABS, LIBERTSHOE, MANAPPURAM, MANPASAND, MARATHON, MINDTECK, MOIL, MOTHERSUMI, MUNJALAU, NFL, OILCOUNTUB, PAGEIND, PETRONET, PFC, PHILIPCARB, PHOENIXLTD, PNC, PSL, PTC, PUNJLLOYD, RELIGARE, RUPA, SADBHIN, SCI, SHALPAINTS, SHILPAMED, SHK, SMLISUZU, SNOWMAN, SRIPIPES, STCINDIA, SUBROS, SUDARSCHEM, SUNTECK, SURANACORP, SURANAIND, SWELECTES, SYMPHONY, TDPOWERSYS, TFL, TIIL, TIMESGTY, TREEHOUSE, TRIVENI, TWL, UBL, UNIONBANK, VASCONEQ, VENKEYS, VISAKAIND, ZYDUSWELL

TOP NEWS

ALERT: Tata Motors: Reported weak numbers for Q1FY18, ADR down 6% in trade……(Details in Investment Calls)
Tata Motors reported a weak set of results for Q1FY2018 (consolidated). The consolidated revenues declined 10% YoY driven by declining volumes in domestic market and transitional loss on JLR revenues (GBP/INR depreciated sharply to 83.9 from 90.3 in Q1FY17). The margins at 8.5% dropped 540 bps yoy impacted by higher marketing expenses and forex hedge loss in JLR and higher discounting in domestic business. Tracking the weak operating performance, Tata Motors posted adjusted loss of Rs 859 cr as against estimated profit of 1,183 Cr.

RIL: RJIO likley to launch broadband services by October-2017; positive read through 
Reliance JIO (RJIO), subsidiary of Reliance Industries (RIL), is expected to launch home broadband service at a price of Rs500 for 100GB data per month in 100 cities of India by October-2017 as per media reports. Positive read through for RIL. 

Ashoka Buildcon Q1FY2018 Results: Standalone net earnings rises 2x to Rs62 crore led by robust execution (construction revenue up 58% YoY) with stable operating margins…..(Details in Strong results)

Food processing: Higher import of shrimps from India and Indonesia improves the growth prospects of Shrimps manufacturing companies – positive read through for companies such as Waterbase and Avanti feeds
The U.S. is importing more shrimp than ever before, with shipments in the first half of 2017 jumping to 286,090 metric tons, the most in 45 years of data from the National Oceanic and Atmospheric Administration. Half of that comes from India and Indonesia, where the majority of shrimp are grown and harvested in farms, making them cheaper than domestic wild-caught varieties. This is positive for shrimps manufacturing companies such as Waterbase and Avanti Feeds

OTHER NEWS

IOCL: Plans to expand LPG bottling capacity at Ennore plant; neutral read through 
Indian Oil Corp (IOCL) plans to expand its LPG bottling plant capacity at Ennore to 20,500 tonnes per month from 15,000 tonnes per month currently as per media reports. The expansion is expected to be completed in next two years. Neutral read through for IOCL given small size of expansion. 

M&M: Launches a small tractor Jivo in South - Positive.
M&M has launched a small tractor in the sub 25hp segment. priced at Rs 4 lakh for 4WD model (ex-showroom Karnataka). The tractor is aimed at row crop and horticulture farming and is available in the 4WD version with engine power of 24HP and PTO power of 22HP. Going ahead the company plans to launch a 20 HP 2wd product on the Jivo platform in Oct - Dec 2017.

Automobiles: The finance ministry has ruled out any downward revision in GST rate or cess for Hybrid cars. Negative read thru for hybrid car makers including Maruti Suzuki as demand for its mild hybrids Ciaz and Ertiga could decline and the same is factored in the estimates

Tata Motors (JLR): opens bookings for the new Discovery in India with prices starting from Rs 68.05 Lakhs (ex showroom). The vehicle will be available in 3.0 litre petrol and diesel engines and will be available for sale in India from November 2017.

Prestige Estates: Ivanhoe Cambridge, a canadian pension fund has shown interest in buying stake in the rental assets of Prestige estates as per media reports. Prestige is looking to sell 40-50% stake in its rental assets and could raise about USD500 million. Positive read thru for the stock.

Public sector Banks: As per media sources, the finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the Q1 FY18 results have been announced – Neutral read through

Jaypee Infratech, JP Associates: The National Company Law Tribunal has admitted insolvency proceedings against Jaypee Infratech as per media reports.

MORE NEWS

JioFiber to offer 100GB data at Rs 500 by Diwali: Isha
Trai seeks data ownership, privacy view to check misuse
Direct tax collection up 19% in Apr-July
Trading in a dozen 'shell' firms may resume soon
Indian cities to grow the fastest in Asia as Chinese rivals slow
HDFC realty fund extends Rs 500 cr loan to Lodha
Pawan Hans divestment plan to be finalised soon: Govt
Daiichi moves Supreme Court to block Fortis sale
Govt to initiate PSBs' consolidation process after Q1 results
Sahara Group moves SC, asks Aamby Valley auction be put on hold
ArcelorMittal may bid for stressed steel assets
Uncompetitve globally, Indian agri exports fall 21% to $34 bn in FY17
NSE cuts charges on currency futures to infuse more liquidity
China's aluminium foil producers to challenge US dumping duties
Tata Motors Q1 profit jumps 42% riding on JLR pension plan benefit
JKumar, Parsvnath move SAT against shell company tag
Indian basket of crude oil remains above $50 per barrel
Ban on ‘shell companies’ may trigger margin funding crisis
Anti-dumping duty on 93 products from China: Nirmala Sitharaman 
Bharti, Vodafone top in list of towers exceeding radiation limit 
Sebi hits new low with non-transparent ‘shell companies’ order
Bank of India Q1 profit at Rs87.71 crore
Govt notifies timeline for filing of tax returns under GST
Eicher Motors Q1 net profit rises 22% to Rs460 crore
India’s drug regulator warns on Abbott’s bioresorbable stents
Panasonic eyes Rs2K cr revenue from smartphones in India
FPIs net sellers in August
Companies garner Rs 3,700 cr via NCDs in April-July FY18
Aurobindo Pharma Q1 net profit down 11% at Rs 518 cr
JK Tyre seeks anti-dumping duty on radial tyres from China
Indian workforce prefers to be entrepreneurs: Survey
Nifty extends losses for third day, falls 70 pts
Sebi orders Prosperity Agro to refund investors' money
Reliance takes a $1b contrarian bond bet
Gold imports more than doubled in July
Passenger vehicles to grow by 10% in FY18

STOCK IN NEWS

ArcelorMittal may bid for stressed steel assets
GoAir plans international foray with Phuket, Maldives service
Govt tweaks HPCL's terms of sale to ONGC to avoid 'open offer'
MCX gets Sebi nod to launch options contract in gold
Petronas scouts for LNG opportunities in India
Negligible debt and scale make Balrampur Chini most profitable
Lupin eyes speciality businesses in US
Canadian pension funds join race to buy Prestige Estates stake
Tata Chemicals eyes Rs 10,000-cr soda ash business in next 5 years
Tata Steel to sustain profitability in FY18, drive up financial health: S&P
Zydus Cadila gets USFDA nod for high blood pressure, heart disorder drug

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