Mid-Day Market updates – TFM’s watch window

Mid-Day Market updates – 14th Feb 2019 – PreMarket and Buzzing Stocks

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Buzzing Stocks on Market Today

  1. Repco Home Finance plunges 10% despite robust Q3 numbers – 11:11am
    Revenue jumped 11 percent to Rs.304 crore versus Rs.274 crore.
  2. Bosch rises 3% on better Q3 show – 10:00am
    Revenue from operations during the quarter increased 0.8 percent to Rs.3,095.5 crore compared to Rs.3,072 crore in corresponding period last fiscal.
  3. DHFL falls 5% after resignation of CEO Harshil Mehta – 9:18am
    “However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019,” DHFL said in a regulatory filing on stock exchanges.

ETMarket’s Noon Market update: Realty shares mixed; Unitech slips over 4%

The Nifty Realty index was trading 0.34 per cent down at 221.30 around 10:59 am.

Realty shares were trading on a mixed note in Thursday’s morning session.

Shares of DLFNSE 2.09 % (up 0.82%) , Oberoi Realty (up 0.30%) , Godrej Properties (up 0.17%) and Indiabulls Real Estate (up 0.07 per cent) were the top gainers in the index.

Unitech (down 4.55%) , Sobha (down 4.11%) , Sunteck Realty (down 2.70%) and Prestige Estates Projects (down 1.30%) were trading in the red.

The Nifty Realty index was trading 0.34 per cent down at 221.30 around 10:59 am.

Benchmark NSE Nifty50 index was down 43.15 points at 10,750.50 while the BSE Sensex was down 104.95 points at 35,929.16.

Among the 50 stocks in the Nifty index, 17 were trading in the green, while 33 were in the red.

Shares of YES Bank, Ashok Leyland, Indian Oil Corp, SBI, NHPC, NTPC, SAIL, PowerGrid, Vodafone Idea and ONGC were among the most traded shares on the NSE.

Noon Market Update: Sensex down 100 points, Nifty below 10750 – 12am

Benchmark indices continued to trade lower tracking weak asian market. At 11.18 pm, Sensex was down by 0.35% or 127.50 points to 35906. The Nifty slipped by 0.46% or 49 points to 10744.

Asian stock market were trading lower as China-US kicked off two days of trade negotiations in Beijing.

Pre-market: Indian stocks seen flat with negative bias on lack of fresh triggers, US-China trade talks eyed – 9am

Indian stocks are expected to open down on February 14, 2019 tracking sharp rise in crude oil prices on optimism over US-China trade talks amid oil production cuts from Saudi Arabia.

Nifty futures traded 0.33% down at 10,767 on Singapore’s SGX Exchange.

Global Markets

Asian stocks were mixed ahead of US-China trade meeting in Beijing. US stocks ended higher on hopes of possible deal to avoid another government shutdown in coming weeks.

Oil

Crude oil prices traded higher as investors expect global trade to rise after a deal between the US and China.

Stocks to watch

Dewan Housing Corporation: Whole time Director, Harshil Mehta resigns with effect from February 13, 2019

Fortis Healthcare: Appoints Vivek Kumar Goyal as Chief Financial Officer

Tata Power: Sets up a 10MW energy storage system in Delhi.

Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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Buy Rating on Top 14 Stocks by Motilal Oswal

Money Control: Motilal Oswal is bullish on on top 14 Stocks.

Below is the list of 14 stocks which are on Buy Ratings by Motilal Oswal,

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  1. Buy Sun Pharma; target of Rs.540.
  2. Buy Indian Hotels Co; target of Rs.189.
  3. Buy PI Industries; target of Rs.1023.
  4. Buy Allcargo Logistics; target of Rs.142.
  5. Buy Coal India; target of Rs.338.
  6. Buy Hindalco; target of Rs.302.
  7. Buy Oil India; target of Rs.239.
  8. Buy J K Lakshmi Cement; target of Rs.386.
  9. Buy KNR Construction; target of Rs.260.
  10. Buy Eicher Motors; target of Rs.23960.
  11. Buy Britannia Industries; target of Rs.3630.
  12. Buy Navneet Education; target of Rs.159.
  13. Buy Thermax; target of Rs.1240.
  14. Buy TeamLease Services; target of Rs.3400.
Disclaimer: The views and investment tips expressed by investment experts are on their own and not that of the website or its management. thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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DAILY MARKET INSIGHTS – 13th Feb 2019

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Indian Indexes

Benchmark indices erased all their gains in the last hour on February 13, weighed by RIL, L&T, ICICI Bank and State Bank of India. The Sensex ended just above 36000 while Nifty closed below 10800. The Sensex declined by 0.33% or 119.51 points to 36034.11. The Nifty fell by 0.35% or 37.75 points to 10793.70.

Majority of the sectoral indices closed in red except IT, Realty and Technology.

Market breadth was in favour of declines with an advance-decline ratio of 1:2.

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13Top Gainer Losers

13Currency
Stocks in the news

1. Bosch Q3 net profit rose by 19.3% y-o-y to Rs.335.4 crore.

2. Adani Gas Q3 net profit slipped by 6.8% q-o-q to Rs.47 crore.

 

Buzzing stocks on BSE

1. CG Power and Industrial Solutions fell by 29.63% to Rs.23.75, after reporting the consolidated net loss of Rs.150.18 crore in Q3 December 2018.

2. Shares of Natco Pharma declined by 4.68% to Rs.635, after consolidated net profit slipped by 27% y-o-y to Rs.159 crore in Q3FY2019.

Global Signals

Asian stock markets were mostly higher on February 13, on positive US-China trade sentiment.

European stock markets traded higher amid US-China trade deal hopes.

Mid-Day Market updates – The Future Market’s watch window

Mid-Day Market updates – 12th Feb 2019 – PreMarket and Buzzing Stocks

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Buzzing Stocks on Market Today

  1. C C Constructions jumps 10% on orders from government and Oman – 11:15am
    Its joint venture company C C ESM also received order from Dedicated Freight Corridor Corporation of India for total value of Rs 124.2 crore.
  2. Axis Bank declines nearly 2% on SUUTI stake sale report – 10:34am
    Under the promoter entity, the government through SUUTI held 9.56 percent stake in the bank, as of December 2018 while 14.15 shareholding is held by state-run insurance companies.
  3. JBM Auto rises nearly 2% after strong Q3 results – 9:53am
    JBM Auto’s consolidated net profit after tax rose to Rs 19.74 crore, up 14.6 percent from the same quarter last year.
  4. SpiceJet, IndiGo Jet Airways fall 1-4% as crude prices surge – 9:35am
    Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check.

ETMarket’s Noon Market update: Consumer Durables shares dip; VIP Industries slips 5%

Benchmark NSE Nifty50 index was down 2.30 points at 10,886.50 while the BSE Sensex was down 20.54 points at 36,374.49.

The S&P BSE Consumer Durables index was trading with losses in Tuesday’s afternoon session.

Shares of VIP Industries (down 4.98 per cent), Crompton Greaves Consumer Electricals (down 2.19 per cent) and Whirlpool of India (down 0.63 per cent) were trading lower.

Blue Star (down 0.55 per cent), Voltas (down 0.28 per cent) and Rajesh ExportsNSE 0.56 % (down 0.24 per cent) too were trading with losses.

Meanwhile, the S&P BSE Consumer Durables index was trading 0.09 per cent up at 21,571.49 around 12:43 pm.

Benchmark NSE Nifty50 index was down 2.30 points at 10,886.50 while the BSE Sensex was down 20.54 points at 36,374.49.

Among the 50 stocks in the Nifty index, 27 were trading in the green, while 23 were in the red.

Shares of SAIL, Reliance Power, Reliance Communications, Petronet LNG, Suzlon Energy, Relinace Capital, Reliance Infra, JP Associates, JSPL and DHFL were among the most traded shares on the NSE.

Pre-market: Indian stocks seen flat with negative bias on lack of fresh triggers, US-China trade talks eyed – 9am

Indian stocks are expected to open marginally down on February 12, 2019 tracking subdued US and Asian stocks as investors preferred to remain on the sidelines ahead of meeting between US and Chinese officials to discuss trade issues. Nifty futures traded 0.15% down at 10,915 on Singapore’s SGX Exchange. Global Markets Asian stocks were subdued ahead of US-China trade meeting due later this month. US stocks ended mixed in a lacklustre trading session on February 11, 2019 as investors await developments on US-China trade deal. Oil Crude oil prices traded with little change on February 11, 2019 on lack of fresh triggers. Stocks to watch Tata Steel BSL: Board approves issuance of non-convertible preference shares worth Rs 12000 crore to Tata Steel Indian Overseas Bank: RBI penalises the lender for Rs 1.5 crore for not monitoring end use of funds JK Tyres: Board approves issuing preference share issue to promoter group.

Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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DAILY MARKET INSIGHTS – 11th Feb 2019

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Indian Indexes

The benchmark indices ended lower on February 11, weighed by automobiles and pharmaceutical stocks. Reliance Industries, M&M, ICICI Bank, Axis Bank, SBI, L&T, ITC, Bajaj Finance, ONCG and HUL dragged the indices, while HDFC Bank, Tata Consultancy Services, Kotak Mahindra Bank, Tata Steel and Infosys ended in green. The 30-share Sensex fell by 0.41% or 151.45 points to close at 36395.03, while the 50-share Nifty slipped by 0.50% or 54.80 points to 10888.80.

Market breadth was in favour of declines with an advance-decline ratio of 2:5.

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11Top Gainer Losers.jpg

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Stocks in the news

1. Eicher Motors Q3 consolidated net profit rose by 2.4% y-o-y to Rs 533 crore

2. Motherson Sumi Systems Q3 net profit rose by 6.7% y-o-y to Rs.389 crore.

3. India Cements Q3 net profit slipped by 79.6% y-o-y to Rs.3.1 crore.

4. Spicejet Q3 net profit falls by 77% y-o-y to Rs.55 crore.

Buzzing stocks on BSE

1. Tata Steel rose by 2.20% to Rs. 479.90, after the consolidated net profit rose by 54.33% to Rs. 1753.07 crore in Q3FY19.

2. KRBL fell by 10.64% to Rs. 322, after the consolidated net profit declined by 12.82% to Rs 107.22 crore in Q3FY2019.

3. Sun TV Network surged by 10.10% to Rs. 573.15, after the net profit rose by 31.60% to Rs. 351.33 crore in Q3FY2019.

Global Signals

Asian stock markets ended on a mixed note on February 11, 2019 as traders await developments in trade talks between American and Chinese officials in Beijing later this week.

European stock markets rallied on hopes of resolution between the US and China on trade front at meeting between officials later this week.

 

To See more coprorate updates Click here…

DAILY MARKET INSIGHTS – 8th Feb 2019

Daily Stock Picks and Recomandations – 8th Feb 2019

Mid-Day Market updates – The Future Market’s watch window

Mid-Day Market updates – 11th Feb 2019 – PreMarket and Buzzing Stocks

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Buzzing Stocks on Market Today

  1. Sun TV Network climbs 7% as analysts remain positive after Q3 result – 11:56am
    The mass media company reported strong revenue growth of 32 percent YoY to Rs 900 crore, mainly due to better-than-expected movie revenue and backed by healthy advertising and subscription revenue
  2. DHFL shares fall 6% on buzz of I-T notice to probe asuspicious transactionsa – 11:20am
    According to a CNBC-TV18 report, the income tax department sent a notice to DHFL under Section 131 of I-T Act. Further, the company has been asked to furnish books of accounts.
  3. Hero Motocorp falls 4% as stock trades ex-dividend – 9:45am
    The board of directors, on January 31, declared an interim dividend of Rs 55 per share of Rs 2 each (at the rate of 2,750 percent) for the financial year 2018-19.
  4. Dr Reddy’s Labs falls 4% as US FDA issues 11 observations to Bachupally plant – 9:30am
    The company on Friday told the exchanges that its Formulations Manufacturing Plant – 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations.

Markets open in red. Sensex down 200 points – 10am

Indian stock markets have extended their fall from the opening mark. The Nifty below 10900. At. 9.58 am, Sensex was down by 0.57% or 203 points to 36347. The Nifty slipped by 0.68% or 74 points to 10871.

ITC, Reliance Industries, L&T, ICICI Bank dragged indexes, while Infosys batted for the bulls.

The Indian rupee opened higher at 71.23 against the US dollar on February 11, against February 08 close at 71.30.

Asian stock markets were mixed on February 11, as doubts on the possibility for progress ahead of a potentially pivotal week for US-China trade talks crept back into markets.

Pre-market: Indian stocks may open down as US-China trade dispute hits sentiments – 9am

Indian stocks are expected to open marginally down on February 11, 2019 as sentiments remain weak on uncertainty over a deal between the US and China.
Nifty futures traded 0.12% down at 10,933.5 on Singapore’s SGX Exchange.
Global Markets
Asian stocks were subdued after reports casted doubts over possible trade agreement between the US and China.
US stocks ended mixed with marginal weekly gains on February 8, 2019 as investors preferred to remain on the sidelines due to uncertainty over US-China trade deal.
Oil
Concerns over global economic health led to fall in crude oil prices on February 11, 2019.
Stocks to watch
Reliance ADAG Group: Creditors says all actions on the group are legal and the Anil Ambani-led group failed to honour contractual obligations.
SBI: SBI cuts its interest rates on home loans upto Rs 30 lakh by 5bps
Reliance Industries: Reliance Brands increased its stake in Future 101 Design to 15%

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Tata Steel Q3 profit jumps 54% YoY to Rs 1,753 crore, misses Street estimates

Q3 Results: Tata Steel’s Profit Surges As Acquisitions Start Paying Off

  • Revenue rose 23.2 percent to Rs.41,220 crore.
  • Operating profit increased 18 percent to Rs.6,723.4 crore.
  • Margin narrowed 70 basis points to 16.3 percent.

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Economictimes: Tata Steel Q3 profit jumps 54% YoY to Rs.1,753 crore, misses Street estimates

Consolidated revenue for December quarter jumped 23 per cent YoY to Rs.41,220 crore.

Tata Steel on Friday reported 54.31 per cent year-on-year (YoY) rise in profit at Rs.1,753 crore for December quarter, which fell short of Rs.2,289 crore net estimated by analysts in an ET Now poll.

The company had posted Rs.1,136 crore profit in the similar period last year.

Consolidated revenue for the quarter jumped 23 per cent YoY to Rs.41,220 crore, with India sales rising 41 per cent to Rs.22,063 crore, the company said in a regulatory filing.

Consolidated adjusted Ebitda rose 27 per cent to Rs.7,225 crore compared with Rs.5,671 crore in the corresponding quarter last year.

The liquidity position of the group remained robust at Rs.19,320 crore comprising of Rs.8,549 crore in cash and cash equivalents and Rs.10,771 crore in undrawn bank lines, the company added.

Commenting on the results, CEO & Managing Director TV Narendran said: “Despite a sharp drop in international steel prices, we were able to maintain our overall realisations and increase our volumes significantly in India. The integration of Tata Steel BSL continues and our 5 MTPA expansion at Kalinganagar is also making good progress. We are also looking forward to enhancing our long products and downstream capability through the acquisition of the 1 mtpa steel business of Usha Martin.”

In line with our strategy of divesting non-core assets and focusing on India, we have announced a divestment of a 70% stake in our SEA business and we continue to work on exploring similar opportunities across our portfolio, he added

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Top 19 stocks on news and to watch out today, Feb 11

Top 19 stocks on news and stocks to watch out today and Results today

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  1. Bharti Airtel: Airtel Kenya Signs an agreement with Telkom Kenya to combine operations.
  2. Tata Steel Q3: Profit surges 53 percent YoY to Rs 1,751 crore; India biz revenue up 10 percent
  3. Reliance Industries: RRVL acquired a further stake of 9.44 percent in Genesis Colors for Rs 45 crore.
  4. Balkrishna Industries Q3: Net Profit down 23.6 percent at Rs 144.7 crore versus Rs 189.5 crore (YoY)
  5. Dr Reddy’s Laboratories: US FDA audit of formulations manufacturing plant-3 at Bachupally, Hyderabad has been completed.
  6. Lupin: US FDA issued 2 observations for Goa unit
  7. Prakash Industries: Modernised its Rolling Mill in Chhattisgarh to improve the production of wire rods. The company also stated that it is on schedule to complete its Sponge Iron Kiln by March 2019.
  8. Rural Electrification Corporation: Board approved incorporation of 5 project specific Special Purpose Vehicles for its transmission arm.
  9. SBI, OBC, Allahabad Bank, PNB, Corporation Bank: RBI imposed penalty of Rs 1.5 crore on Allahabad Bank and Rs 1 crore on Punjab National Bank due to regulation issues. Corporation Bank was also penalised Rs 2 crore due to lapses in monitoring. On the back of the monetary policy announced by the Reserve Bank of India (RBI) on February 7, the State Bank of India has reduced the interest rates on its home loans for all loans up by Rs 30 lakh. State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore.
  10. EID Parry: Sales data for January with sugar sales at 0.24 MT and export sugar sales at 0.19 MT. Around 7.94 lakh MT of sugarcane was crushed for the afore-mentioned period, while 57 lakh litres of alcohol was sold.
  11. Power Finance Corporation: NCLT approved amalgamation of the company’s wholly owned arm ‘PFC Green Energy’ with self.
  12. Cipla: Subsidiary InvaGen Pharmaceuticals Inc has completed the first tranche of 33.3 percent stake buy in US-based speciality business firm Avenue Therapeutics.
  13. Time Technoplast: Aburi Ltd. had withdrawn the complaint filed against the company with Economic Offences Wing of Mumbai Police and has resumed business ties.
  14. IndusInd Bank: To raise funds via debt on February 13.
  15. Voltas: Tata group firm Voltas on Sunday said it will invest over Rs 500 crore to set up a manufacturing facility in Tirupati, Andhra Pradesh, PTI reported.
  16. Vodafone Idea: The country’s largest telecom firm Vodafone Idea is planning to invest around Rs 20,000 crore in networks over the next 15 months, according to company officials, reported PTI, citing company officials.
  17. Jet Airways: Crisis-hit Jet Airways on Sunday cancelled more than 10 flights due to operational reasons, reported PTI, citing a source.
  18. ONGC, OIL: The government plan to offer PSUs special incentives for natural gas discoveries in difficult and unviable areas will help raise India’s natural gas production as it will unlock output in a dozen fields of state-owned ONGC and OIL, officials said on Sunday, reported PTI.

Results Today:

Eicher Motors, India Cements, Amara Raja, Motherson Sumi, Max financial, PFC, Spicejet, GNFC, Andhra Bank, Corporation Bank, Everest Kanto, Great Eastern, GE T&D, ITD Cementation, jbf Industries, JBM Auto, Jaypee Infra, KNR Construction, Maharashtra Seamless, Mangalam Drugs, Max India, Meghmani Organics, Noida Toll bridge, PI Industries, PPAP Automotives, Skipper Ltd, Somany Ceramics, TCI Express, Vindhya Telelinks, Capline Point Lab, CARE Ratings, Centrum Capital, Hindustan Copper, ITI, Jayshree tea, Repro India, Setco Automotive, Aarti drugs

Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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Daily Stock Picks and Reco’s – The Future Market’s watch window

Today Stock Picks and Research Calls from Experts & Agencies –

 11th Feb 2019

Intraday calls by Sharekhan:

  • Buy Reliance Industries Ltd with target price of Rs.1305 and a stop loss of Rs.1271.

Reliance Money Intraday Calls:

  • Sell NIIT Technologies Ltd at Rs.1320 with target price of Rs.1285 and a stop loss of Rs.1345. Read more at:

Manas Jaiswal of manasjaiswal.com:

  • Kotak Bank is a ‘Buy’ call with a target price of Rs.1350 and a stop loss of Rs.1275.
  • L&T is a ‘Sell’ call with a target price of Rs.1210 and a stop loss of Rs.1295.

Kunal Bothra independent market expert:

  • Kotak Bank is a ‘Buy’ call with a target price of Rs.1325 and a stop loss of Rs.1284.
  • YES Bank is a ‘Sell’ call with a target price of Rs 167 and a stop loss of Rs 180.

CK Narayan of Chart Advise

  • Maruti Suzuki is a ‘Sell’ call with a target price of Rs.7050 and a stop loss of Rs.7200.

5paise trading platforms todays intraday call:

  • Buy Syngene International at Rs.611-615 with target price of Rs.630 and a stop loss of Rs.604.
  • Buy Kotak Mahindra Bank at Rs.1292-1300 with target price of Rs.1324 and a stop loss of Rs.1282.
  • Buy Bajaj Finance at Rs.2690-2710 with target price of Rs.2760 and a stop loss of Rs.2668.Read more at:

Ashwani Gujral of ashwanigujral.com:

  • Buy Kotak Mahindra Bank with a stop loss of Rs.1285, target of Rs.1340.
  • Buy UPL with a stop loss of Rs.817, target of Rs.792.
  • Sell Balkrishna Industries with a stop loss of Rs.770, target of Rs.745.
  • Sell Escorts with a stop loss of Rs.670, target of Rs.642.
  • Sell M&M Financial Services with a stop loss of Rs.405, target of Rs.385.

Sudarshan Sukhani of s2analytics.com:

  • Sell Repco Home Finance with stop loss at Rs.390 and target of Rs.370.
  • Sell Mahindra & Mahindra with stop loss at Rs.695 and target of Rs.665.
  • Sell JSW Steel with stop loss at Rs.269 and target of Rs.258.
  • Buy Bajaj Finance with stop loss at Rs.2670 and target of Rs.2750.
  • Buy Titan Company with stop loss at Rs.1040 and target of Rs.1075.

Mitessh Thakkar of mitesshthakkar.com:

  • Sell Bosch with a stop loss of Rs.19080 and target of Rs.18500.
  • Sell Britannia Industries below Rs.3090 with stop loss of Rs.3130 and target of Rs.3010.
  • Buy UPL with a stop loss of Rs.799 and target of Rs.835.
  • Sell Escorts around Rs.663-664 with stop loss of Rs.677 and target of Rs.640.
Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. thefuturemarkets.com advises users to check with certified experts before taking any investment decisions.

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Check out these 4 picks for short term, Nifty could see a pre-election rally towards 11,380-11,500;

MoneyControl: Check out these 4 picks for short term; Nifty could see a pre-election rally towards 11,380-11,500.

Nifty could remain in 10,830-11,119 range for a few days and then gradually move forward to scale new highs. In such a case, we could see a pre-election rally towards 11,380 and 11,500.

By Manali Bhatia

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Bulls went through a rough time in the last two trading sessions of the week after an initial rally.

We have witnessed 10 weeks breakout on the back of positive Interim Budget but market failed to hold on to the initial strength and register a gain of 0.45 percent only on weekly basis with Nifty50 closing below 11,000 mark at 10,943.60.

In the coming week, for maintaining the upside momentum Nifty 50 needs to hold 10,830 level.

Nifty has formed the Doji candlestick pattern on daily chart at 61.8 percent retracement level of September-October fall (from 11,760.2 to 10,004.55) which was followed by large red candle. The pattern suggests that next few days are going to be quite difficult for traders.

Though there is indecisive candlestick pattern at important levels but the fact cannot be ignored that we witnessed a range breakout last week.

Technical setup suggesting that two scenario could emerge in coming days and traders need to be flexible enough to deal with it.

1) If 10,830 trades on lower side then we can expect the market to go back again in a range of 11,000-10,590 and the current breakout will be considered as false.

2) Nifty could remain in range of 10,830 and 11,119 for few days and then gradually move forward to make new highs, in such case we could see a pre-election rally towards 11,380 and 11,500.

On option front also, indecisiveness is creeping in among traders as 11,000 Call and Put option both holds significant open interest. Immediate support for the week exists at 10,880 and 10,830 and until 10,830 holds bullish bias is likely to intact.

NTPC: Sell | CMP: Rs.131.55 | Target: Rs.124 | Stop Loss: Rs.136 | Return: 6%

Stock has been in a prolonged downtrend and recently made new 52-week low.

Momentum indicators on monthly chart indicating fresh weakness and trading below all major moving averages. On weekly chart, there is bullish reversal failure pattern and such scenario is indicating that bears still have upper hand.

On daily chart, the stock has formed rounding top kind of a pattern and now breaking out of it. Price is tagging the lower Bollinger band. Thus selling positions can be initiated with the short term perspective.

NIIT Technologies: Buy | CMP: Rs.1,309.15 | Target: Rs.1,440 | Stop Loss: Rs.1,240 | Return: 10%

After an initial upmove stock went sideways and a fresh round of buying is expected in days to come. Monthly RSI is suggesting a reversal after retracement and any dips in stock are likely to be bought into.

Weekly momentum indicators have started trading in positive zone and prices are tagging the upper bollinger bands. On daily time frame stock is trading above all major moving averages. Stock can be bought at CMP and on any dip till Rs 1,260 for short term gain.

Kotak Mahindra Bank: Buy | CMP: Rs.1,299.4 | Target: Rs.1,405 | Stop Loss: Rs.1,255 | Return: 8%

Stock is forming higher tops and higher bottoms for the past few weeks and recently formed bullish candle after a phase of consolidation near 20-week moving average. Setup is suggesting that fresh leg of rally is likely to begin.

Daily RSI is trading in a positive zone and MACD also trading in positive territory and recently witnessed positive crossover. Long positions can be initiated in the counter for short term gain.

Maruti Suzuki: Sell | CMP: Rs.7,157.05 | Target: Rs.6,800 | Stop Loss: Rs.7,350 | Return: 5%

After a sharp sell-off, the recent upmove is facing resistance at 20-week moving average on weekly chart and momentum indicators in all time frame is favoring the bears.

On daily time frame, stock has formed a negative candlestick pattern at 50-Day Exponential Moving average. Apart from this, RSI has reversed from important resistance zone and formed a reversal pattern and hence decent opportunity on downside is available in the stock for the short term gain.

The author is Senior Research Analyst at Rudra Shares & Stock Brokers Ltd.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Disclosure: Rudra or its research analysts, or his/her relative or associate do not have any direct or indirect financial interest nor any other material conflict of interest at time of stock recommendation, in the subject company. Also, Rudra or its research analysts, or his/her relative or associates does not have actual/beneficial ownership of one per cent or more securities of the subject company. Rudra or its associates have not received any compensation or other benefits from the subject company or third party in the past twelve months. The research analyst has not served as an officer, director or employee of the subject company, neither Rudra nor its research analyst has been engaged in market making activity for the subject company. However, Rudra or its research analysts, or his/her relative or associate may have positions In Futures & Options.

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Selloff on D-Street pushed Nifty below 11,000; 16 stocks fell 10-60% in a week

The market direction in the coming week will be dominated by global cues as well as macro data, suggest experts.

By Kshitij Anand @kshanand, MoneyControl

SENSEX_NSE_nifty_BSE_Stock-market__-770x433.jpg
Kshitij Anand @kshanand, MoneyControl

Indian market witnessed a selloff in the last two trading session of the week which pushed benchmark indices below crucial support levels largely on weak global cues.

The S&P BSE Sensex closed the week below 37,000 while Nifty50 failed to hold on to 11,000 for the week ended February 8.

On weekly basis, Sensex rose 0.2 percent while the Nifty50 recorded gains of about 0.46 percent but as many as 16 stocks in the BSE500 index plunged 10-60 percent in the same period.

Stocks which saw a double-digit cut include names like Reliance Power, Reliance Infrastructure, Reliance Communications, Reliance Capital, Suzlon Energy, Jaiprakash Associates, Adani Power, SREI Infra, IDBI Bank, Centrum Capital, Indiabulls Ventures, Indiabulls Integrated Services, Tata Chemicals, Indiabulls Real Estate, and Mahindra Logistics.

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The big carnage was seen in the small & mid-cap space which fell over 2 percent respectively for the week ended February 8. More than 300 stocks on the BSE hit a fresh 52-week low while on the NSE the number was slightly over 200.

As many as 21 stocks on the BSE hit a fresh all-time low in the week gone by which include names like Reliance Power, Reliance Communication, Suzlon, Inox, ICICI Securities, Cochin Shipyard, Coal India, Shankara Building etc. among others.

ADAG stocks saw their worst decline as most of the stocks hit their lifetime low during the week gone by. Anil Ambani-led Reliance Group on February 8 accused L&T and Edelweiss entities of “illegal” and “motivated” actions in invoking the pledged shares and selling them in the open market causing a steep fall in its share value.

Both L&T Finance and Edelweiss Group refuted the allegations made by the Reliance Group in separate media statements.

“Post Rcom bankruptcy, ADAG group may face credibility crisis as no lender may come forward to lend money to this group. Hence, stocks may under pressure for some more time and investors should avoid them in their own interest atleast for a couple of months till dust gets settled,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.

The market direction in the coming week will be dominated by global cues as well as macro data, suggest experts.

“Volatility likely to continue amid growing concerns over the trade fight between the US and China, also Markets to closely track domestic macroeconomic data like IIP, CPI & WPI scheduled in the coming week,” Hemang Jani, Head – Advisory, Sharekhan by BNP Paribas said.

“We continue to maintain a positive view on the consumption sector and expect the coming election to act as a positive catalyst for volume growth. Any major decline in the market should be used to buy into quality names such as (HUL, Reliance Industries and Titan) which remain some of our preferred picks,” he said.

Technical View:

Following the Doji formation on February 7, the Nifty witnessed a sharp reversal on February 8. In terms of the candlestick patterns, the price action over the last three sessions has resulted in the Evening Star formation.

The pattern got formed post the completion of an Ending Diagonal pattern. This increases the bearish significance of the candlestick pattern, suggest experts.

“The Fibonacci retracements reveal that the benchmark index has reversed from the 61.8% retracement of the September – October decline. Hence the Nifty seems to have topped out at the recent high of 11,118,” Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.

On the way down, the Nifty has broken the key support zone of 10,980-11,000 on a closing basis. Thus the traders can add to the position on the short side. From short term perspective, 10,583-10,534 shall now be the key target area to watch out for with potential to head significantly lower, he added.

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VIP Industries net profit falls by 11.4% y-o-y

vip-world-exclusive-bag-store-bapunagar-ahmedabad-bag-dealers-d2p3w.jpgV I P Industries Ltd’s Q3FY19 consolidated net profit declines 11.4% yoy to Rs.24cr

  • Net profit fell by 11.4% to Rs. 23.8 crore from Rs. 26.9 crore.
  • Revenue rose by 27.2% to Rs. 430 crore from Rs. 338 crore.
  • EBITDA dipped by 8.2% to Rs. 37.8 crore from Rs. 41.2 crore.

The company’s consolidated revenue stood at Rs.430cr, up 27.2% yoy and 7.0% qoq.

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 430.09 27.2
EBITDA 37.81 [8.2]
EBITDA Margin (%) 8.8 [339]
Net Profit (adjusted) 23.83 [11.4]

***EBITDA margin change is bps

VIP Industries reported a disappointing set of numbers for Q3FY19 on EBITDA and PAT fronts. The consolidated revenue for the quarter, grew by 27.2% yoy and 7% qoq to Rs430cr. EBITDA came in at Rs38cr, down 8.2% yoy and down 26% qoq. EBITDA margin contracted by 339bps yoy and 392bps qoq to 8.8%. Consolidated PAT for the quarter declined by 11.4% yoy and by 27.4% qoq to Rs24cr.

  • Gross margins declined by 430bps yoy and 305bps qoq to 46.7%. The average polymer prices during the quarter have been declining, which is likely to have impacted the margins.
  • On yoy basis, other expenses declined by 143bps yoy but the same was higher by 66bps qoq. Employee cost was higher by 51bps yoy and 21bps qoq.
  • Depreciation expense increased by 30.2% yoy and 13.1% qoq to Rs.4cr. Interest expense increased from Rs0.1cr in Q3FY18 to Rs.0.7cr in Q3FY19.
  • Other income increased by 42.7% yoy and 34.3% qoq to Rs.2.7cr.

IIFL Technical View:

V I P Industries Ltd is currently trading at Rs.492.50, down by 22.25 points or 4.32% from its previous closing of Rs.514.75 on the BSE.
The scrip opened at Rs.512.05 and has touched a high and low of Rs.514 and Rs.479.35 respectively. So far 6,30,226 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

Britannia Q3 net profit rises by 14% yoy to Rs.300cr

Britannia Industries Ltd’s Q3FY19 consolidated net profit rises 13.8% yoy to Rs300.1cr : Misses Estimates

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 2,842.4 10.7
EBITDA 451.8 13.4
EBITDA Margin (%) 15.9 38
Net Profit (adjusted) 300.1 13.8

Britania.png

The company’s consolidated revenue stood at Rs.2,842.4cr, up 10.7% yoy but flat sequentially

Britannia Industries reported healthy set of numbers for the quarter, marginally below the estimates. Company reported revenue growth of 10.7% yoy to Rs.2,842.4cr, broadly in-line with estimates. Gross margin for the quarter expanded by 261bps yoy to 41.3%, primarily aided by premiumisation. EBITDA grew by 13.4% yoy to Rs.451.8cr (5% below estimates) and EBITDA margin expanded marginally by 38bps yoy to 15.9% (estimate 16.5%). PAT was up 13.8% yoy to Rs.300.1cr, 5% lower than estimates.

  • Company reported healthy revenue growth for the quarter primarily led by widening of distribution network (through focus on direct reach, rural market and weak states) and product innovation.
  • Company continued its premiumisation and innovation journey and launched Whole Wheat Vita MarieGold, Good Day Cashew Almond and renovation of 50-50 & Tiger Creams. Company also filled gaps in Cakes business with launch of Swiss Rolls and Layer Cakes.
  • Greenfield unit in Nepal is progressing on time and is expected to be commissioned in Q4FY19E.
  • Depreciation and interest costs were up by 28.9% and 16.9% yoy respectively.
  • Other income for the quarter was up by 66.9% yoy to Rs60cr.
  • Tax rate for the quarter stood at 35.5%, 160bps higher than the base quarter.

IIFL Technical View:

Britannia Industries Ltd is currently trading at Rs.3,133.95, down by 78.85 points or 2.45% from its previous closing of Rs.3,212.80 on the BSE.
The scrip opened at Rs.3,185.10 and has touched a high and low of Rs.3,202 and Rs.3,103 respectively. So far 5,00,942 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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Grasim Q3 net profit rises by 28% y-o-y

Grasim Q3 net profit rises by 28% y-o-y

  • Net profit rose by 28.3% y-o-y to Rs.608 crore from Rs.474 crore.
  • Revenue surged by 20.9% y-o-y to Rs.5,293 crore from Rs.4,377 crore.
  • EBITDA advanced by 19.3% y-o-y to Rs.1,053 crore from Rs.882 crore.

earnings_-770x433

Grasim Industries Ltd’s Q3FY19 standalone net profit rises 28.3% yoy to Rs.608.2cr : In-line with Estimates.

The company’s standalone revenue stood at Rs5,292.9cr, up 20.9% yoy and 3.4% qoq.

Grasim Industries Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 5,292.9 20.9
EBITDA 1,052.6 19.3
EBITDA Margin (%) 19.9 [27]
Net Profit 608.2 28.3

Grasim (Standalone) reported a healthy set of numbers for the quarter, broadly in-line with the estimates. Revenue for the quarter was up 20.9% yoy to Rs.5,292.9cr, in-line with consensus estimates. EBITDA grew 19.3% yoy to Rs.1,052.6cr, with a marginal contraction of 27bps yoy in EBITDA margin, which stood at 19.9%. Aided by higher other income and lower tax outgo, the PAT was up 28.3% yoy to Rs.608.2cr.

  • Consolidated revenue and EBITDA were up 21.5% and 45.4% on yoy basis respectively.
  • The VSF business reported net revenue of Rs.2,616.7cr, up 19.6% yoy with EBITDA at Rs.477cr, up 3% yoy. The share of domestic sales volume in the overall sales volume improved to 89% in Q3FY19 from 77% in Q3FY18.
  • The VSF business reported sales volume of 134KT, up 1% yoy in Q3FY19. The 7% increase in VSF realization on yoy basis was offset by higher input costs. The prices of key inputs, pulp, sulphur and coal were up by 12%, 28% and 9% yoy respectively. Company launched Livaeco, an eco-enhanced variant of brand Liva.
  • Chemical segment’s net revenue for the quarter grew 18.6% yoy to Rs.1,558.5cr with a 23% yoy jump in EBITDA to Rs441cr. The strong growth was driven by better realization and higher sales volume (10% yoy growth to 250KT). The phosphoric acid plant of 29KTPA at Vilayat (Gujarat) has been commissioned in last quarter and the ramp up from that is expected by Q4FY19E.
  • Pulp segment’s revenue was up 23% yoy to Rs.912cr, however, EBITDA declined by 4% yoy to Rs.92cr on account of rise in input costs.
  • UltraTech had reported a growth 18.9 yoy in consolidated sales to Rs.9389.6cr driven by 14% yoy volume growth. However, PAT was down by 14.5% yoy.
  • ABCL reported a robust financial performance in Q2FY19 with a consolidated revenue of Rs.3,780cr and PAT (after minority interest) of Rs.206cr. The lending book (including housing) grew 29% yoy to Rs.60,129cr in Q3FY19 and AUM grew 8% yoy.

IIFL Technical View:

Grasim Industries Ltd is currently trading at Rs.714.50, down by 38.7 points or 5.14% from its previous closing of Rs.753.20 on the BSE.
The scrip opened at Rs.756 and has touched a high and low of Rs.764.80 and Rs.709.60 respectively. So far 41,78,831 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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DAILY MARKET INSIGHTS – 8th Feb 2019

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Indian Indexes

Indian local indices plunged sharply on February 8, as risk appetite dwindled on worries over ongoing trade spat between the US and China amid concerns over global economic health after European Commission slashed GDP forecasts for Eurozone. The Sensex fell by 1.15% or 424.61 points to 36546.48 . The Nifty declined by 1.14% or 123.80 points to 10,943.60.

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8Top Gainer Losers.jpg

8Currency

Stocks in the news

1. Excel Crop Care Q3 net profit fell by 81.3% y-o-y to Rs.24 crore.

2. Marksans Pharma net profit rose by 44% y-o-y to Rs.25 crore.

3. VIP Industries net profit fell by 11.4% y-o-y to Rs.23.8 crore.

4. AIA Engineering rose by 11% y-o-y to Rs.129 crore.

Buzzing stocks on BSE

1. Tata Motors lost 14.9% at Rs 155.65 at 09:18 IST on BSE after the company reported consolidated net loss of Rs 26992.54 crore in Q3 December 2018 as compared to net profit of Rs 1198.63 crore in Q3 December 2017.

2. Sun Pharma Advanced Research Company fell 1.21% to Rs 146.50 at 10:01 IST on BSE after the company received a demand order worth Rs 46.04 crore for payment of Service Tax.

3. Shipping Corporation of India jumped 6.65% to Rs 40.10 at 11:12 IST on BSE after net profit surged 119.72% to Rs 180.54 crore on 25.02% rise in total income to Rs 1237.30 crore in Q3 December 2018 over Q3 December 2017.

Global Signals

Asian stock markets tumbled on February 08, after President Donald Trump said he doesn’t plan to meet Chinese leader Xi Jinping before a tariffs truce ends in March.

European stocks traded mixed as investors await developments in US-China trade talks.

 

To See more coprorate updates Click here…

DAILY MARKET INSIGHTS – 7th Feb 2019

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