Tuesday, 1 August 2017

1 August 2017 - Views & News


Sgx Nifty  -8 pts Dow +60.81 pts ,Nsdq -26.55 pts , S&P -1.80 pts‎, Bovespa +423 pts , Ftse +3 pts , Dax -44 pts , Cac -37 pts , Nikkei  +37 pts now , Crude @ $50.19 brl (+0.02), Brent @ $52.70 brl (+0.01) , Gold @ 1266.46 (-0.14), Silver @ $16.785 (+0.07), Euro @ $1.1824, JPY @ $110.3700, INR @ $64.200

Today's Corporate Action 1st Aug  Ex Date

ALLCARGO Dividend - Rs. - 2.0000
APARINDS Dividend - Rs. - 10.0000
CENTURYPLY Dividend - Rs. - 1.0000
CITADEL Dividend - Rs. - 1.0000
DISA Final Dividend - Rs. - 2.5000
FRONTSEC Final Dividend - Rs. - 0.5000
GOODYEAR Dividend - Rs. - 12.5000
GRAVITA Final Dividend - Rs. - 0.6000
HERCULES Dividend - Rs. - 1.0000
HONAUT Dividend - Rs. - 10.0000
JAYAGROGN Bonus issue 1:1
MCLEODRUSS Dividend - Rs. - 0.2500
MORGANITE Final Dividend - Rs. - 8.0000
PARAGMILK Final Dividend - Rs. - 0.5000
PRABHAT Final Dividend - Rs. - 0.4000
TATATIMKEN Dividend - Rs. - 1.0000
TCPLPACK Dividend - Rs. - 6.2500
WONDERLA Final Dividend - Rs. - 1.0000

Today's Key Result 1st Aug

Power Grid (2052 Cr +14% Yoy Res-After Mkt) Jsw Steel (Cons 560 Cr -49% Yoy) Marico ( Cons 260 Cr -3% Yoy) Pc Jewel ( 101 Cr -5% Yoy) Torrent Power ( Cons 101 Cr +3% Yoy) Century Ply,Dcm Shriram,Eih Ltd,Lkp Finance,Opto Circuit,Orient Paper,RDEL, Shriram City Union,Tata Inv,Westlife Development 


Container Corporation of India: Increase in revenue along with improvement in operating margins boosts net earnings (up 36% YoY)

Government has ordered oil marketing companies (IOCL, BPCL and HPCL) to increase price of subsidised LPG by Rs4 per cylinder every month till March-2018 or till the LPG subsidies is reduced to nil as per the media reports – positive for upstream PSUs (ONGC and Oil India) as it removes the concern of subsidy burden in case of rise in oil prices and neutral for OMCs as they do not bear any subsidies on LPG 

Biocon in focus: Teva-Celltrion and Amgen-Allegran file for trastuzumab (gHerceptin) with USFDA, leading to more competition if approved  - Negative for Biocon; Biocon has received a target action date for trastuzumab in September 2017, prior to which company will have to address the 483 form received at Bangalore facility.

Max Financial Services has shared that merger deal between Max Life and HDFC Life has been withdrawn – Neutral as the news was expected with HDFC Life fling for IPO  

Glenmark: As per media reports, Glenmark reports Positive Data for Phase 2a Study of GBR 830 – Positive for Glenmark; we await clarity from management.


Birla Corporation: The company is planning to invest around Rs2400 crore for setting up a 4 million tones greenfield cement manufacturing plant in Maharashtra. The proposed expansion will take the company’s total cement capacity from 15.5 million tones per annum to 19.5MTPA. The company would use a mix of debt and internal accruals to finance the capex. Positive read thru for Birla Corporation.

Insecticides India targets 15-20% growth for FY2018; Launches new products; to invest Rs 30 Cr for expanding capacity; positive read thru:
Driven by a forecast of a Normal' monsoon for 2017, Insecticides India is targeting a growth of 15-20% for FY18 as against an expected Industry growth of 10%. Insecticides  has launched a soil health improvement product, Kayakalp which would reduce the fertilizer usage by nearly 35%.  Also the company is investing Rs 30 Cr over the next two years towards capacity expansion at its technical facility at Dahej plant and is looking for partners to enter markets abroad. 

Power sector news- The government is planning a major change in the power purchase norms to help stressed plants get coal supplies and start generation as the revised sales pact will make it more attractive for distribution companies to buy electricity from them. Norms are likely to be tweaked to remove contractual requirement for the buyer to pay a fixed cost to the plant even if no power is purchased. This is expected to encourage distribution companies to float tenders for electricity supply and sign new PPAs, which in turn will help the stranded power stations get fuel supply from Coal India. We believe this move would help stressed assets to start operations and would be helpful for their lenders. Positive.

Bharti Airtel: SingTel raises concerns over proposed Bharti Airtel-Tata deal
As per media news, SingTel has raised some questions relating to the rationale behind the deal between Bharti Airtel and Tata Tele along with Tata Communications and Tata Sky. They have raised concerns about the huge debt that Tata Tele has as well as whether the combined package fits well in the Bharti Airtel’s portfolio. SingTel, directly or indirectly, holds 36% stake in the Bharti Airtel.

Vascon Engineers, receives work order worth Rs 80.4 crore, positive read-thru


April-June fiscal deficit hits 80.8% of full-year target
Toyota reports best-ever July sales at 17,750 units
India set to block $1.3 bn Gland Pharma-Fosun deal
RBI asks banks to enable account number portability
Max India pulls out of Max Life-HDFC Life deal
InterGlobe Aviation Q1 net up 37% on higher passenger revenue
Tech Mahindra Q1 net up 6.5% at Rs 799 cr
June core sector growth falls to 0.4% from 4.1% in May
SBI cuts savings rate by 0.5%; 90% customers to be impacted
NSEL urges SEBI to resolve Rs 5,600-cr payment crisis
 Snapdeal terminates Flipkart's $950-million takeover deal
SBI cuts savings bank rate to 3.5% on deposits up to Rs. 1 cr
Sensex ends at record closing high of 32,514.94, Nifty closes at 10,077.10
RBI slaps Rs 1 cr penalty on Union Bank for KYC non-compliance
Goldman Sachs’s ‘secret’ SunEdison loan at centre of KKR lawsuit
Infosys, TCS , Tech Mahindra see workforce shrink for the first time in Q1
Torrent Pharma Q1 net profit falls 36% to Rs188 crore
Godrej Consumer shares down 2% after June quarter results
India will will take deliveries of 2,100 planes worth USD 290 billion in next 20 years, says aviation major Boeing
Tech Mahindra earnings: Non-core income boosts net 6.6% to Rs 798 crore
Fiscal deficit at 81% of Budget Estimates in June quarter
IndiGo's Q1 net profit rises 37 per cent

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