Capitalstars financial research Pvt. Ltd.: August 2015

Monday, August 31, 2015

DAILY COMMODITY MARKET STRATEGY-1 Sep 2015

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BULLION

Gold December future has advanced nearly a percent in early morning deals at $ 1,141.40.Silver December and Platinum October series have gained 0.3 percent each at $ 14.635 and $ 1,012.80, respectively.

ENERGY

Crude Oil October delivery has plunged over 3 percent to $ 47.69.Brent Oil October expiry has declined over 0.5 percent at $ 52.65.Natural Gas October future is quoted at $ 2.694 - up 0.2 percent.

BASE METAL

Copper December contract is almost unchanged at $ 2.334.

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INDIAN EQUITY MARKET OUTLOOK-1 Sep 2015

INDIAN BENCHMARKS are likely to start the session on a negative note as the global cues look unsupportive with SGX Nifty trading 6700 points lower.

Headlines for the day:

L&T wins water supply project worth Rs1489 crore

UltraTech to hike capacity to 71 mt by this fiscal

Annual report analysis; maintain Buy with a revised Price Target

Trend in FII flows: The FIIs were net sellers of Rs -551.19 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 478.59 Cr, as per the provisional figures released by the NSE.

TOP CORPORATE NEWS-31 Aug 2015

JSW Energy considering to refinance Rs6000 crore of debt

JSW Energy considering to refinance Rs6000 crore of debt under 5/25 refinance scheme- positive read thru .JSW Energy is in talks with banks to refinance debt worth Rs.6,000 crore under the so-called 5/25 refinance scheme for long-gestation infrastructure projects, according to media reports. JSW Energy will refinance the debt component of the Rs9,700 crore transaction to buy two hydropower assets from Jaiprakash Power Ventures Ltd. Under the 5/25 scheme, banks can extend loan repayment periods up to 25 years, with an option of refinancing the loan every five years.

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Acrysil eyes Rs1,000-crore sales in 7 years

Acrysil eyes Rs1,000-crore sales in 7 years, to enter new geographies – positive read through for the stock. Acrysil is targeting over seven-fold increase in total turnover at Rs1,000 crore in 7 years as it enters new product categories. Commercial kitchen equipment business used by restaurants is an untapped category dominated mostly by unorganised players with Chinese imports.

IOC to invest Rs16000 crore to produce synthetic ethanol

IOC to invest Rs16000 crore to produce synthetic ethanol – Positive read thru .Indian Oil Corp. Ltd (IOCL), the nation’s biggest refiner, plans to spend Rs6,000 crore ($2.4 billion) to build a plant for producing synthetic ethanol as it seeks to secure supplies of the bio fuel to meet mandatory blending norms. The company will seek investment approval from its board next year, after which the facility, to be located at Paradip in eastern India, will take about four years to complete.

GCPL rises after RBI allows increase in foreign investment limit

Godrej Consumer Products Ltd ( GCPL) after the Reserve Bank of India ( RBI) on Friday, August 28, 2015, notified increase in foreign investment ceiling to 40% of the company's paid-up capital from earlier 35%.

The Reserve Bank of India ( RBI) on Friday, August 28, 2015, notified that Foreign Institutional Investors ( FIIs)/Registered Foreign Portfolios Investors ( RFPIs) can now invest up to 40% (revised from earlier 35%) of the paid-up capital of Godrej Consumer Products ( GCPL) under the Portfolio Investment Scheme ( PIS).

HDFC Bank wins Best Asian Bank 2015 award

HDFC Bank is the newly crowned winner of this year’s Best Asian Bank award, a standout among the 15 winners of 2015 Finance Asia’s Country Awards programme for generating high growth and steady profitability as well as maintaining a low nonperforming loans ratio and high asset quality.HDFC Bank’s is among the best performing banks and is well recognized outside India too. We have buy rating on HDFC Bank with price target of Rs1260.

Sunday, August 30, 2015

DAILY COMMODITY MARKET STRATEGY-31 Aug 2015

BULLION

Platinum October future has tumbled over a percent in early deals at $ 1,008.30.Silver December contract has declined 0.4 percent at $ 14.490.Gold December delivery is almost unchanged at $ 1,133.60.

Gold October is towards Rs 26,750 and Rs 27,800. Supports in Gold towards Rs 26,500 are active.

ENERGY

Brent Oil October future is witnessing huge losses, and is down 99 percent to $ 0.49.Crude Oil October expiry has tumbled nearly 2 percent at $ 44.45.Natural Gas October contract slipped almost 2 percent at $ 2.669.

Open interest lost during session ending Friday. On Friday, Crude Oil tested a high of Rs 3,046 and a low of Rs 2,785 per barrel.

BASE METAL

Copper September delivery has shed around a percent at $ 2.329.Copper August is at Rs 352 and Rs 340 per kg. The high for Copper on Friday was at Rs 351.80 per kg, and a low of Rs 343.45 per kg was tested.

INDIAN EQUTY MARKET OUTLOOK-31 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a negative note as the global cues look unsupportive with SGX Nifty trading 42.00 points higher.

Headlines for the day:

Aurobindo Pharma receives USFDA approval for Raloxifene Hydrochloride

Bharti Airtel & Idea Hike Post-paid Data Tariffs By 20% In Delhi

ONGC, partners including OIL to invest $24 billion in Mozambique gas field

Trend in FII flows: The FIIs were net buyers of Rs 56.41 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 847.43 Cr, as per the provisional figures released by the NSE.

Friday, August 28, 2015

TOP CORPORATE NEWS-28 Aug 2015

Govt to infuse Rs 2455 cr in Bank of India

Bank of India has announced that the Government of India ( GOI) in its letter dated August 19, 2015 has informed the bank about its decision to infuse capital funds to the tune of Rs2455 crore in the Bank by way of preferential allotment of equity shares. In this regard, the Board of Directors have decided to convene an Extra-Ordinary General Meeting (EGM) of the shareholders of the Bank on September 28, 2015. In the meeting the bank will seek to get the shareholders' approval for the proposed preferential Issue of equity shares to Government of India, by way of Special Resolution.

Hindalco seeks shareholders nod to raise up to Rs 6,000 cr

Aluminium maker Hindalco Industries said that it will seek shareholders' approval to raise up to Rs6,000 crore through issuance of non convertible debentures (NCDs) on private placement basis.

Consent is sought to offer or invite subscription to non convertible debentures up to an amount not exceeding Rs6,000 crore on private placement basis from time to time until September 15, 2016,' Hindalco said.Hindalco said its Board will consider raising funds in one or more series/ tranches. The company's AGM will be held on September 16.

Bharti plans to sell Bangladesh and Srilankan operations

Bharti Airtel is looking to exit operations of the Bangladesh and Srilanka market. It is further learnt that it would separately sell the tower business and the services business.

This move is aimed at focusing operations and consolidating the balance sheet and hence serves positive for the company.

Vodafone India to launch 4G services

Vodafone India Ltd, India’s second largest telco, will launch 4G services by the end of the year, the company announced on Friday. 'Important data markets including Mumbai, Delhi, Kolkata, Bengaluru and Kochi will be part of the first wave of the roll-out,” the company said in a statement. 'In addition, Vodafone India will also roll out its own 3G networks in seven circles—Assam, North East, UP West, Rajasthan, Karnataka, Kerala and Odisha—to expand its overall 3G footprint to 16 circles across the country.'

Lupin gets FDA Approval for Generic Prilosec® Capsules

Lupin received USFDA approval for Omeprazole delayed release capsules which is generic version of Astrazeneca Pharma Prilosec. It is used for short term treatement of Duoden Ulcer, Gastric Ulcer, treatment of Gastro Esophageal Reflux Disease etc. Total annual US sales of the drug is around Rs1200 crore ($185 million) as per IMS MAT June 2015.

Thursday, August 27, 2015

DAILY COMMODITY MARKET STRATEGY-28 Aug 2015

BULLION

Gold December and Platinum October delivery have advanced over 0.5 percent each at $ 1,129.30 and $ 1,009.20, respectively.Silver September future has added 0.2 percent at $ 14.445.

Gold price tested a high of Rs 26,449 per 10 grams on 27 August 2015 and a low of Rs 26,169 per 10 grams.

ENERGY

Crude Oil October contract has spurted almost a percent at $ 42.98.Brent Oil October expiry is marginally up at $ 47.74.Natural Gas October future is almost unchanged at $ 2.676.

On Thursday, Crude Oil tested a high of Rs 2,817 and a low of Rs 2,624 per barrel.

BASE METAL

Copper September delivery has gained 0.3 percent at $ 2.330.The high for Copper on Thursday was at Rs 341.45 per kg, and a low of Rs 330.70 per kg was tested.

Copper ended the day at Rs 339.85 on 27 August 2015 against 329.1 per kg on 26 Aug 2015.

INDIAN EQUITY MARKET OUTLOOK-28 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a positive note as the global cues look supportive with SGX Nifty trading 102 points higher.

Headlines for the day:

Stock Idea – Big gains in small pack

Recent correction gives a buying opportunity

Government may pare stakes in some banks to 33%

Trend in FII flows: The FIIs were net sellers of Rs - 3347.35 Cr in the cash segment on Thursday while the DIIs were net buyers of Rs 2577.06 Cr, as per the provisional figures released by the NSE.

TOP CORPORATE NEWS-27 Aug 2015

Aurobindo receives final approval from USFDA for Entecavir

Aurobindo Pharma has received the final approval from the US Food & Drug Administration ( USFDA) to manufacture and market Entecavir Tablets. Entecavir Tablets are indicated for treatment of chronic hepatitis B virus infection of the liver. The product has an estimated market size of US$294 Million (around Rs2000 crore) for the twelve months ending June 2015 according to IMS.

Bank of Maharashtra up as board to consider fund raising proposal

Shares of Bank of Maharashtra rose nearly 2%, touching to Rs34.9, after the bank board meeting to be held on September 01, 2015, to consider raising of equity capital by way of preference allotment to Government of India. Adding further the Bank have received a notice from the General Secretaries of Workmen Unions/ Associations i.e. NOBO, NOBW, AIBEA, AIBOA, BEFI, INBOC, INBEF informing their decision to go on a one day All India General Strike on September 02, 2015, in support of their demands.

Sun TV Network ties up with HOOQ for delivery of movies

Sun TV Network ties up with HOOQ for delivery of movies of their premium VOD service. Sun TV Network has tied up with the largest catalogue of the premium movies from south partners with HOOQ, Asia’s biggest premium video –on – demand service in a multi-year deal. Sun TV wants their customers to continue to enjoy the largest and best catalogue of Hollywood and Indian content of any services.

HDFC Life plans IPO to sell 25% stake for Rs6000 crore

HDFC Life plans IPO to sell 25% stake for Rs6000 crore – Positive read thru for HDFC. HDFC life proposes to sell 25% stake in HDFC life, a JV between HDFC and Standard Life, to raise Rs6000 crore in early FY17.The JV partner Standard Life already plans to raise stake up to 35% in the company.

Cairn India to invest Rs1,400 crore to raise capacity

Cairn India is set to expand its crude oil and natural gas carrying capacity by laying a new gas pipeline from its Barmer (Rajasthan) field with an investment outlay of Rs1,400 crore. With this expansion crude oil output would be expanded from 200,000 bopd (barrels of oil per day) to 300,000 bopd and natural gas carrying capacity from 6.3 mmscfd (million standard cubic feet per day) to 40 mmscfd.

Wednesday, August 26, 2015

DAILY COMMODITY MARKET STRATEGY-27 Aug 2015

BULLION

Silver September future has advanced over 0.5 percent in early morning deals at $ 14.130.Platinum October contract has spurted 1.3 percent at $ 994.95.Gold December delivery has added 0.2 percent at $ 1,127.10.

Gold prices were seen at Rs 26,471 on 26 August 2015 against Rs 26,740 per 10 grams on 25 August 2015. Resistance for Gold is towards Rs 26,700 and Rs 27,800.

ENERGY

Crude Oil October expiry has surged 2.4 percent to $ 39.52.Brent Oil October contract has jumped 1.5 percent at $ 44.24.Natural Gas October future has gained 0.4 percent at $ 2.698.

On Wednesday, Crude Oil tested a high of Rs 2,662 and a low of Rs 2,582 per barrel.

BASE METAL

Copper September delivery has spurted over a percent at $ 2.287.On Thursday trading gains are expected to get resisted at Rs 332 and 334 per kg. Floor for Copper is at Rs 327 and Rs 325 per kg.

The high for Copper on Wednesday was at Rs 336.30 per kg, and a low of Rs 327.25 per kg was tested.

INDIAN EQUITY MARKET OUTLOOK-27 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a positive note as the global cues look supportive with SGX Nifty trading 125 points higher.

Headlines for the day:

Federal Bank falls Morgan Stanley stake sale

IT Sector update: Rupee tailwinds, positive cushion for margins

L&T Construction wins order from KAHRAMAA

Trend in FII flows: The FIIs were net sellers of Rs - 2345.77 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 1881.08 Cr, as per the provisional figures released by the NSE.

INDIAN EQUITY MARKET OUTLOOK-27 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a positive note as the global cues look supportive with SGX Nifty trading 125 points higher.

Headlines for the day:

Federal Bank falls Morgan Stanley stake sale

IT Sector update: Rupee tailwinds, positive cushion for margins

L&T Construction wins order from KAHRAMAA

TOP CORPORATE NEWS-26 Aug 2015

M&M achieves sales milestone of 1.25 lakh LCVs

Mahindra & Mahindra (M&M) announced that Mahindra Truck and Bus Division has rolled out its 15000th heavy commercial vehicle from the state-of-the-art plant in Chakan, Maharashtra. In addition, the company also reached a sales milestone of 125,000 light commercial vehicles ( LCVs) on Indian roads.

Cambridge announces contract with leading Netherlands

Cambridge Technology Enterprises ( CTE) announced its engagement with a Netherlands based private leading technology company connecting the worlds of print, archive and online. CTE's relationship with this company is to provide operations support for their e-publishing services. The client requires faster turnaround time for its e-paper and magazine operations, a need CTE's domain expertise can play an instrumental role in meeting.

L&T Construction wins order from KAHRAMAA

Larsen & Toubro ( L&T) announced that L&T Construction has won 494.45 Mn QAR (Rs864 Crores) Order from KAHRAMAA.

Lupin gains on USFDA nod for Diclofenac Sodium

Shares of Lupin rose 3% to Rs1875 on NSE after the pharma major received approval from the US Food & Drug Administration for anti-inflammatory drug Diclofenac Sodium. The stock opened at Rs1838 and touched a high of Rs1895 on NSE. The stock has gained nearly 11% during August 2015 so far against nearly 7.5% decline in the Sensex.

TCS donates $35 mn to Carnegie Mellon University

Tata Consultancy Services ( TCS) has announced a $35 million gift from TCS to Carnegie Mellon University, marking a new era of partnerships between leaders of Industry and academia. Representing the largest corporate gift to the University and from outside the US, this donation will fund a new facility, the Tata Consultancy Services Building, which will support education and cutting-edge research by Carnegie Mellon University faculty and students.

Tuesday, August 25, 2015

DAILY COMMODITY MARKET STRATEGY-26 Aug 2015

BULLION

Silver September future has declined 0.3 percent in early trade at $ 14.570.Platinum October delivery has added 0.2 percent at $ 979.85.Gold December contract is marginally down at $ 1,137.30.

Gold prices were seen at Rs 26,740 on 25 August 2015 against Rs 27,448 per 10 grams on 24 August 2015.

ENERGY

Crude Oil October expiry is slightly down at $ 39.25.Brent Oil October future has gained 0.5 percent at $ 43.15.Natural Gas October delivery is quoted at $ 2.689 - down 0.3 percent.

On Tuesday, Crude Oil tested a high of Rs 2,662 and a low of Rs 2,600 per barrel. Open interest of Crude Oil was at 39233 on 24 Aug against 34639 a day before.

BASE METAL

Copper September future is down 0.2 percent at $ 2.291.Copper August is at Rs 334 and Rs 332 per kg. The high for Copper on Tuesday was at Rs 338.70 per kg, and a low of Rs 330.50 per kg was tested.

INDIAN EQUITY MARKET OUTLOOK-26 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a negative note as the global cues look unsupportive with SGX Nifty trading 90 points lower.

Headlines for the day:

Welspun Corp forms JV with MalaysiaMCX signs MoU to establish international exchange with IFSC

Suzlon Energy commissions wind power project for NSE

Trend in FII flows: The FIIs were net sellers of Rs -2080.01 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 1963.09 Cr, as per the provisional figures released by the NSE.

TOP CORPORATE NEWS-25 Aug 2015

RBI approves re-appointment of Rana Kapoor as Yes Bank CEO

Yes Bank Ltd has informed that the Bank has received approval from Reserve Bank of India for re-appointment of Mr. Rana Kapoor as MD & CEO for a period of three years with effect from September 01, 2015.

Union Bank plans to sell Rs1200 crore worth of NPAs to ARC

Union Bank plans to sell Rs1200 crore worth of NPAs to ARC—positive read thru As per media reports, Union Bank has put Rs1200 crore NPAs on the block for sale To ARCs in Q2FY16. The Bank has seen gradual decline in fresh NPA additions in past few quarters and sale of NPAs to ARC could help to manage asset quality pressures better (since loss on sale to ARC can be amortised over 8 quarters).

Adani Group to invest $3.75 billion in coal gasification project

Adani Group to invest $3.75 billion in coal gasification project in Chhattisgarh .Adani Enterprises has inked a pact with the Chhattisgarh government to invest over Rs25,000 crore for setting up urea and power project as well as rice bran oil extraction plant in the state. The first project to be set up is a CTP project that includes an ammonia/urea and substitute natural gas (SNG) complex via gasification of Indian high ash coal.

Corporation Bank to sell Rs1,000 crore of stressed loans

Corporation Bank has decided to sell Rs1000 crore of stressed loans to asset reconstruction companies (ARC) by the end of the current quarter. In a seminar organized by Indian Banks' Association and FICCI, the Bank’s management said that the bank will continue to sell stressed assets in successive quarters.

L&T Construction wins orders worth Rs1563 cr

Larsen & Toubro (L&T) announced that the power and distribution business of L&T Construction has won orders worth Rs1563 crore in both international and domestic markets in July and August 2015. As a strategic breakthrough in the ASEAN market, a key order has been received from Tenaga Nasional Berhad for the design, manufacture, supply, installation, testing and commissioning of a 500 kV double circuit transmission line in Malaysia.

Monday, August 24, 2015

DAILY COMMODITY MARKET STRATEGY-25 Aug 2015

MCX Aug Aluminum futures recovered from 99.45 levels and ended in positive note by forming a “bullish hammer” candlestick pattern on daily charts. This signifies that trend remains positive and further rally can be possible towards 102.60 & 104 levels.

MCX Aug Nickel futures shed almost 8% in the early trades and reached to its 6 year low of 618 levels. However, a subsequent recovery from the same has kept the prices at 641 levels, down by 5% on d-o-d basis. Overall bearish outlook remains unchanged and any rise can be considered as fresh selling opportunity at 653 levels. Downside support remains at 629 & 618 levels.

NCDEX Sep Chana; sharp bounce in the past session was engulfed its last three days losses and kept the prices in a positive tone. Further rally can be seen towards 4856 & 4910 levels, where as a support lies at 4783 levels.

INDIAN EQUITY MARKET OUTLOOK-25 Aug 2015

INDIAN BENCHMARKS are likely to start the session on a positive note as the global cues look supportive with SGX Nifty trading 145 points higher.

Headlines for the day:

Five IPOs to hit market this month

Metal stocks fall on China growth woes

Oil companies in focus

Trend in FII flows: The FIIs were net sellers of Rs -5275.4 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 4097.83 Cr, as per the provisional figures released by the NSE.