Big news, positive for TV18 Broadcast, Dish TV

NEW DELHI: The NDA government plans to do a “comparative study” of foreign direct investment (FDI) in print and electronic media in some major countries “on a priority basis” even as it mulls options to expand the scope of FDI in this sector in India.

Also Read: http://economictimes.indiatimes.com/industry/media/entertainment/media/government-mulls-raising-fdi-cap-to-100-in-dth-cable-networks/articleshow/49031425.cms

Sun Pharma sells divisions of Ranbaxy to Strides Arcolab for Rs 165 crore 


http://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/sun-pharma-sells-divisions-of-ranbaxy-to-strides-arcolab-for-rs-165-crore/articleshow/49024217.cms

LME Inventory Data Update

Copper UP 2150 
Zinc DOWN -1525 
Lead DOWN -550 
Nickel UP 2670 
Aluminum DOWN -9650 

Cancelled Warrants 
Copper DOWN -0.16 
Zinc DOWN -0.59 
Lead DOWN -0.10 
Nickel DOWN -1.11 
Aluminum UP 0.12 

Impact- Data is negative for copper,nickel, flat for zinc, lead and positive for aluminium

Call of 15/09/15 TUESDAY
@ 10:48

Buy Nifty ltp 7856 SL 7780
trgt 7910/ 7940


All trgt hit 

Japanese Markets Closed 21-23 September For Public Holiday

FTSE Rebalancing

Estimated Buying and Selling 

Buy 

* EMAMI (HMN IS) - Buying of 1.6 mn shares, 8X ADV

* BAJAJ FINANCE (BAF IS) - Buying 468k shares, 5.8X ADV

* TORRENT PHARMA (TRP IN) - Buying 1.2 mn shares, 5.6X ADV

* UPL (UPLL IS) - Buying 8.8 mn shares, 5X ADV

* ADANI PORTS (ADSEZ IS) - Buying 9.5 mn shares, 1.4X ADV

* TATA MOTORS DVR (TTMT/A IS) - Buying 11 mn shares, 3X ADV



Sell 

* POWER GRID (PWGR IS) - Selling 4.2 mn shares, 2X ADV

* HDFC Bank (HDFCB IS) - Selling 2.9 mn shares, 2X ADV

* AXIS Bank (AXSB IS) - Selling 2.7 mn shares, 0.5X ADV

* KOTAK MAHINDRA BANK (KMB IS) - Selling 1.9 mn shares, 1.5X ADV


This is FTSE rebalcing
On 18 th sep

BREAKING: OPEC sees oil not returning to $100/barrel until 2040: Reuters, citing sources » http://t.co/AcANTxppVM

Pvt sector banks may become 100% foreign owned. FinMin, DIPP and RBI weigh raising FDI limit to 100%. Also foreign banks may be allowed to open their wholly owned subsidiaries.- Senior Govt official to ET

CITI: Tata Motors (TTMT IN) ~$188mn block deal just launched
* Vendor: Tata Steel 
* Size: 1.33% of 5.54% stake (note another ~1.33% stake is being offered off-market to Tata Sons at around mkt px)
* Lock Up: 90 days
* Price Range: INR 324.50 - 338.05 (0-4% discount)

BREAKING: US weekly jobless claims total
264,000 vs 275,000 estimate

SGX Nifty + 56
7997

Dow +50
Nasdaq + 26
S&P + 8

China up 5%
Hangsang up 3 %

14 Sep Monday

@11.11

Buy Indusind bank ltp 878 SL 864  trgt 892 


TRGT HIT

Call of 15/09/15 TUESDAY


@ 10:48



Buy Nifty ltp 7856 SL 7780 trgt 7910/ 7940


TRGT HIT

Today's Economical Data to watch: 

2:30pm EUR Final CPI y/y
2:30pm EUR Final Core CPI y/y
Tentative EUR German 30-y Bond Auction
6:00pm USD CPI m/m
6:00pm USD Core CPI m/m
7:30pm USD NAHB Housing Market Index
8:00pm USD Crude Oil Inventories

Call of 11/09/15 FRIDAY

@ 15:39

Sell Copper @ 367 SL 372 trgt 362/359

ALL TRGT HIT

NIFTY UPDATE

To go up Nifty has to hold 7760-7800 zone,
Break out from 7880 is very important, 
If does not break again selling can take over.

India Capital World Markets Update:

SGX Nifty: 7856(-18)
DJ: 16371(-62)
NASDAQ 4806(-16)
FTSE: 6085(-33)
HANGSENG: 21555(-7)
NIKKEI: 18205(+240)

Fno ban : 
Amtekauto 
Century Tex

JUST IN: FM Jaitley announces provisional duty of 20% on select steel imports effective immediately
Provisional safeguard duty on steel will continue for 200 days: Jaitley.
RBI Says: FIIs/RFPIs/QFIs Can Now Invest Up To 40% In Maruti Suzuki

Call of 11/09/15 FRIDAY


@ 13:04


Buy Rcom ltp 65.80 SL 63.20 trgt 66.40/68.20/69.40

FIRST TRGT HIT

Indian Daybook- “Stocks to watch”

July IIP At 4.2%: Capital Goods Output At 10.6% Vs -3.6% (MoM) (Positive)

RBI: April-June Current Account Gap At 1.2% Vs 1.6% Of GDP (Positive)

COMMERCE MINISTER : Interest Subvention Policy for Exporters to be submitted to Cabinet shortly (Positive)

Met Department Says: June 1-September 11 Rainfall At 667.8 mm; 15% Below Normal (Negative)

Cipla, Lupin Expand in U.S. to Meet FDA Standard (Positive)

Borosil Glass (BRSL): To spend up to 1.74b rupees on shrs buyback at up to 2,500 rupees/shr (Positive)

Elder Pharma (ELDP): Clarifies in talks with prospective lenders for restructuring debt (Positive)

JK Tyre (JKI): Agrees to buy Cavendish Industries, a unit of Kesoram Industries (Positive)

Manali Petrochemicals (MPCH): In accord to invest up to 5b rupees in Tamil Nadu in 3-5yrs (Positive)

Mangalore Refinery (MRPL): Clarifies no fire or explosion in any part of refinery complex (Positive)

Maruti Suzuki (MSIL): Introduces Ciaz variants with safety features (Positive)

NHPC (NHPC): Says Chutak Power Station was completely restored Sept. 10 (Positive)

Colgate fixes 24.09.2015 as Record Date for 1:1 Bonus Issue (Positive)

Stocks to watch: 
Century
Bata India
Maruti
Appolo
Dabur
Yesbank
Wipro

Bank Nifty Sep fut (16628)

Intraday level

Bank nifty has formed a resistance zone around 16680..16800

Maintains above this sharp rise 
Faces resistance we can see falling to 16200

Cnx Nifty (7789)

Nifty has last week touch its support level of 7540 made a low of 7539 and bounced showing a positive  
If the gap is filled of 8090..8230 and maintains above it we can see reversal

Maintains below 7540 we enter into a free fall zone and we have to watch where it holds support 

INTRADAY 

Maintains above 7880 as told earlier we can see 8000..8040..8080
  
Below 7750 we can see 7680

IIP Data July: Current: 4.2% Previous: 3.8% Expectations: 3.4%
Manufacturing Growth: Current: 4.7% Previous: 4.6% Expectations: 3.25% (Positive for economy)
INDIA July IIP At 4.2%: Capital Goods Output At 10.6% Vs -3.6% (MoM). Basic Goods Output At 5.2% Vs 5.1% (MoM). Manufacturing Sector Output At 3.5% Vs 4.6% (MoM). July mining output at 1.3% vs -0.3% MoM. (Data Positive For Economy.)

Call of 11/09/15 FRIDAY


@ 15:55


Buy Crude above 3012 SL 2980 trgt 3060/3080

Call of 11/09/15 FRIDAY

@ 15:39


Sell Copper @ 367 SL 372 trgt 362/359

Call of 11/09/15 FRIDAY

@ 15:37


Buy Nickel ltp 686 SL 684 trgt 693/698/704

Nifty is showing very volatile session ..
Small positive sign can be seen in weekly charts formation with double bottom
Monday if Nifty manages above 7880 we can see a rally of 200 points 
If maintains below 7660 we can again see lower levels..

Call of 11/09/15 FRIDAY


@ 13:21 

Buy Nifty ltp 7788 SL 7780, trgt 7824/7880

FIRST TRGT HIT

Big News:

20% upper circuit for Fin Tech. Supreme Court allows FinTech to sell stake In IEX. Stock will blast.

NIFTY UPDATE

Nifty has given a gap up opening but has opened near its resistance..

Call of 09/09/15 WEDNESDAY


@ 9:48


Buy Siemens ltp 1220 SL 1180 trgt 1268


TRGT HIT

 Cnx Nifty (7788)

Yesterday Nifty showed good pull back after opening lower levels 
Stiff resistance zone 7830..7870
If maintains above 7830
We can see 7870...
Above 7870 we can see good momentum upto 7920...8000 levels
If nifty maintains below 7820 we can again fall to 7680 zone 


Bank Nifty (16738)

Bank Nifty 

If maintains above 16740.780 zone we can see rally upto 
16850...17040...17400
If maintains below 16700...we can see 16580..16500..300

Sgx +28@7848

Bank Nifty Future Daily Chart 

On Thursday after gap down opening below 16475 at 16315, Bank Nifty Future made a low of 16187 and at end closed 86 points up at 16719, recovered 532 points from day’s low.

Now on upper side if it crosses and sustain above its immediate resistance of 16788 then may continue its upward movement till 16947 – 17193 levels.

On lower side 16475 will act as immediate major support. If it breaks this then 16187 – 15793 are the next.

S&P downgrades Brazil to junk | Many Indian cos may be hit
Several Indian companies have sizeable exposure to the Brazilian market. They include United Phosphorous and Torrent Pharma, whose revenue shares from this market go into double digits, besides Glenmark, KEC International, Rallis India, Cadila, Tata Motors, Havells India and TCS.
There are also others like Lupin, Sun Pharma (through Ranbaxy), Godrej Consumers, Bajaj Auto, MM Forgings, Praj Industries (has a Petrobas order) and ONGC, which generate 2-3 per cent of their total revenues from Brazil

Brazil downgrade.... Major affect stocks Havells, 
Glenmark and 
Torent pharma

Call of 09/09/15 WEDNESDAY

@ 9:50


Buy Ceat ltp 1118 SL 1074 
trgt 1134 /1158



ALL TRGT HIT

MARKET UPDATE

MARKET IS FACING A GAP DOWN  DUE TO STIFF FALL IN DOW LAST NIGHT. ON THE OTHER HAND, FRESH PROBLEMS ARE ARISING FROM BRAZIL , ON ACCOUNT OF REDUCED CREDIT RATING BY S&P. IT CAN DEFAULT DUE TO FALLING COMMODITY PRICES.

 Cnx Nifty (7818)

We can see a gap down opening due to global cues sgx is trading -85 

Below 7530 ...new zone of further fall opens up
Above 7850 only we can see some upward move





Bank Nifty (16633)

Alike Nifty we can see gap down opening in bank nifty too below 15790 
Further down levels 
Upward momentum only above 16800

**CHINA AUG CPI +2.0% Y/Y VS MNI MEDIAN +1.9% Y/Y: NBS

 **CHINA AUG PPI -5.9% Y/Y VS MNI MEDIAN -5.5% Y/Y

U.S. stocks higher as China vows to stimulate economic growth http://t.co/7IVnCt3Bl5 via @WSJ

The Cabinet today gave its nod to a wide range of policy issues like spectrum trading norms, gold monetisation and gold bond scheme.

Boost for telecom

The Cabinet approved of the telecom spectrum trading norms today, allowing telcos to buy or sell airwaves from each other. The telecom companies will now be able to trade un-utilised spectrum thereby consolidating the sector.

The government will also garner additional revenue from the spectrum trading as levies on incomes.

Gold monetisation

The government also have its nod to the gold monetisation scheme that would allow gold depositors to earn interest on their metal accounts. Once the gold is deposited in metal account, it will start earning interest on the same.

The scheme was announced by Finance Minister Arun Jaitley in his Budget 2015-16.

Cabinet approves spectrum

Nikkei Clsd +1343 and HK now +910....

Gold Monetisation Scheme Launched 
- 2.5% Interest on Bonds.
- Gurantee by GOI
- Gold Bricks, Bars , Coin Accepted ... No  Jewellery.
- Banks, NBFC to issue Bonds
Gold Deposit Scheme
- Jewelery can be given as Deposit.
No question on source of Gold for 250 Gms (Men) and 500 Gms (Women)

ASIAN MRKT ON MADNESS.
Nikkie 1150+ 6.5% UP
HANGSANG 3.50% UP
TAIWAN 3.5% UP
CHAINA 2% UP
KOSPI 2.6% UP

Cabinet meeting today to clear spectrum sharing watch telcos.
Cabinet meet resumes: Agenda for the meeting: 

1) 100% FDI route for white label ATMs
2) Consider Spectrum Trading Rules 
3) Increase limit of DA (Daily allowance) for government employees by 6%
4) Anti-dumping duty on steel import to revive steel sector
5) Gold monetization and Gold bond scheme
6) Special parliament session for GST bill

FACTORS TO WATCH

09:15 AM: Finance Minister Arun Jaitley to speak at an event.
10:00 AM: RBI Deputy Governor S.S. Mundra at an industry event.
10:30 AM: Federal cabinet likely to meet. Agenda not given.

Cnx Nifty (7688)

● We can see a gap up opening today as sgx is trading +99

● This rally is an opportunity to book profits on long as charts are showing strong barriers in the zone of 8000...8500 zone 

● Charts are not showing any fresh buying opportunity 

● Intraday trades maximum BTST and STBT will be good 
Our recommended support of 7540 is hold by nifty with a closing above 7620 bounce back zone can make it rally upto 8000..8100

INTRADAY

SUPPORT 
7520
7620

RESISTANCE 
7780
7880



Bank Nifty Sep Fut (16403)

Alike Nifty, Bank Nifty too has same signals 
Bank nifty reversed before its bounce back zone (15686) from 15793 giving a good close 
Above 16500 closing we can see rally 

Intraday RESISTANCE 
16800..16720 zone 

Support 
16160..16120 zone

Asian Market::

nikki +880
taiwan +222
hangsang +480
shanghai +18
sgx +99 (7835)

ET NOW ALERT : Japanese Mkts Rally NIKKEI Price:18293.91 Change: +866.83 Percent Change: +4.97%

GDP (QoQ) (Q2) ACTUAL 0.4%, 
GDP (YoY) (Q2) ACTUAL 1.5%

Alert :

Special antidumping duty on steel 7% good job by gvt positive for metals

Call of 08/09/15 TUESDAY


@ 12:02


Buy Tata Steel ltp 222 SL 214
trgt 228..234


FIRST TRGR HIT

First positive from govt @BloombergTVInd: #Exclusive Govt Panel On Tax: Suggests ending Securities Transaction Tax on equity derivatives.

Bank Nifty (15824)

Intraday 

IMPORTANT  LEVEL 

15720 

holds n trades above this we can see some positivity 

BELOW 15720 

we can see 15570..15140

Resistance

16012
15920

Cnx Nifty (7558)

Yesterday Nifty had taken support around 7545
It could manage to hold 7540 support


NO SIGN OF REVERSAL YET
SELL ON RISE STRATEGY CONTINUES


Intraday

Support
7540..7506

Resistance
7648..7620..7588

#ChinaTradeData: August exports fall 6.1% in Yuan terms YoY; imports fall 14.3% in Yuan terms YoY.
CHINA TRADE DATA : August trade surplus of  368 bn Yuan: Agencies

Call of 04/09/15 FRIDAY


@ 10:16

BUY NIFTY SEP FUT  
LTP 7670 SL 7620 
TRGT 7710/ 7780     

FIRST TRGT HIT                                                                                       

7/9/15 Monday

@10.30

Sell Rel Capital Sep Fut ltp 325 SL 328.80
trgt 322/316/314/310      

FIRST TRGT HIT                                              

CLSA On HDFC Bank: Growth Expansion & High ROEs To Drive Returns 
CLSA On HDFC Bank: Widening Growth Gap Vs Corp Banks Could Expand Valuation Premium 
CLSA On HDFC Bank: Stock One Of The Top Picks In Sector; Target At Rs 1,300/Sh

CLSA On ICICI Bank: Bank Is Trading At 30-60% Discounts To Private Banks 
CLSA On ICICI Bank: See Scope For A Rerating With A Forecast 16% Profit CAGR 
CLSA On ICICI Bank: Have High-conviction Buy Call With With Target Of Rs 375/Sh

Today USA mkt closed labour day

SGX Trades Flat: SGX NIFTY 7650.50 -0.10%

UPDATE ON NIFTY AND BANK NIFTY

Cnx Nifty (7655)

Bounce back support lies around 7610..7640 zone
If maintains below this we can see 7540...further lower levels 
Any bounce can take it to its stiff resistance zone 7880/ 7920/8080
Sell on rise should be the strategy




Bank Nifty Sep Fut (16145)

Bounce back support is around 15680..zone 
Below this we can see 15200
If maintains above this it can rise upto 16700

India Capital World Markets Update:

SGXNifty: 7632(-26)
DJ: 16102(-272)
NASDAQ 4684(-50)
FTSE: 6043(-151)
HANGSENG: 20755(-86)
NIKKEI: 17728(-64)

Fno ban : 
Nil

SGX +7

Aurobindo Pharma gets USFDA approval
http://bit.ly/1JFQPce 
 -via inshorts

US Data Watch: August Non-farm Payrolls Up 173,000 Vs +245,000 (MoM)

4-Sep:
*Stk OI chg: (by highest %)
 -Fresh Longs:  IHFL, DABUR, TVSL, SUNTV, TTAN
 -Fresh Shorts: PAG, RELI, GNP, IRB, EXID, Z, JSW, GDSP, ARVND, IOB, SNDB, HNDL
 -Short Cover:  IOCL, PIDI, BHART, COAL, KSCL, AMTK, BPCL
 -Long u/w's:   CEAT, MRF, HEXW, SKSM, DLFU, UTCEM, HZ, IBREL, DRRD, IGL, RCAPT

*Nifty fut OI +6.82lk shs(+2.9%); Prem +9 vs +20
*BkNifty OI +0.39lk shs(+1.6%)
*IndiaVix @ 26.42 (+9.6%); ATM IVs @ 26.8% vs 24.5%
*Nifty Sep Opt OI Chg: in lks:
7600CE:+3.99
7700CE:+8.28
7800CE:+7.56
7900CE:+3.70
8000CE:+3.59
8100CE:+3.19

7000PE:+1.29
7100PE:+2.97
7200PE:+4.95
7300PE:+7.53
7400PE:+2.30
7500PE:+3.02
7600PE:-3.00
7800PE:-3.47
*Highest OI @ 7500PE:45.17 & 8500CE:47.50

1.09.15

Pre market call 

Sell Reliance below 860 SL 880 
trgt 834/820

First Trgt Hit

3.09.15 Thursday

@ 3.22

Sell Kscl ltp 444 SL 470 
trgt 428..416..408

First trgt hit

Glenmark Pharmaceuticals receives ANDA approval for Voriconazole Tablets, 50 mg and 200 mg

Bank Nifty Sep fut (16565)

Bank nifty like nifty showed a pull back within the range of 16200..16800 

INTRADAY LEVELS

RESISTANCE

16820
17140

Support 
16500
16360
16200

POSITIONAL VIEW 

TREND IS DOWN 
SELL ON RISE 
We can see 15640...15200 in coming days

Above 17100 ..17700
We can see any uptrend

FACTORS TO WATCH

5:00 pm: RBI to release weekly foreign exchange data.

Cnx Nifty (7823)

Yesterday we saw nifty showing taking some support above 7750 but did not show great move. Sign of weakness still persists

Intraday levels

Resistance 7848..7854 
If maintains above this we can see 7928 ++

Support below 7748 we can see  7698..7670....lower levels too

Positional view 

As mentioned earlier 
Strong support lies around 
7660..7625..7614 ...7550

If breaks 7540 we can see further lower levels 


Trend is down we can see 7400..7300..6800..6600
Sell on rise should be the strategy until nifty shows any sign of reversal and uptrend resuming 
Strong Resistance 7920..7940
8100..8240...8320..8440

Central bank Governor Raghuram Rajan is scheduled to review policy twice more this year: on Sept. 29 and Dec. 1. He may also act in between meetings, as he did for two of his three rate cuts since January.

Data in the past few weeks show that India’s inflation and growth slowed more than estimated as stocks plunged over concerns that China’s slowdown will jeopardize global expansion.

The case against a rate cut is largely tied to consumer-price inflation. The figure was 3.78 percent in July, below Rajan’s target of 6 percent by January for the 11th straight month. The number for August will be released on Sept. 14.Cnx nifty (7823)

Moneycontrol News : SBI sets Rs 274.37 price for preferential share to govt

Full News: http://t.in.com/8UW1

Just In: RBI Approves Increase In FII Invest Limit In Ashok Leyland Up To 40% @RBI

➡ Sensex up 311.22 points higher; 26 components in the green

➡ BSE realty index gains 4.6 percent, metals, capital goods and banking indexes rise more than 1 percent

➡ Tata Steel, HDFC and Axis Bank shares rise more than 4 percent - top Sensex gainers

➡ Shares in Mahindra & Mahindra fell as much as 3.43 percent to 1098 rupees, their lowest level in more than a year

➡ Gains in HDFC Bank, Axis Bank, L&T and HDFC are helping the Sensex

3.09.15

@10.27


Buy cipla sep fut ltp 662 SL 655.80
trgt ..666..674


Frst trgt achvd

HOS: GOVERNMENT PLANNING TO PUMP 1LAC CRORE CAPITAL FOR PSU BANKS SOON TO BOOST INDUSTRIAL GROWTH

DURING THE MARKET

👉 DLF shares gain more than 8 percent to 118.75. Singapore wealth fund GIC will invest about 19.9 billion rupees in a new joint venture with the Indian real estate developer.

👉 Sensex rises more than 230 points as gains in HDFC Bank, ITC, ICICI and HDFC help

👉 China has announced tougher rules on trading stock index futures and foreign exchange derivatives as it seeks to steady jittery markets

👉 Unitech, DLF, HDIL, JP Associates, SBI and Indiabulls Real Estate are among the top traded stocks on the NSE

👉 FIIs sold index futures worth 17.9 billion rupees on Wednesday, marking their biggest one day sales in nearly 1-1/2 week

👉 Asia’s tumbling equities have sparked an exodus of funds from the region, but some Indian technology and pharma companies have done well. For example, Tech Mahindra shares have gained 15 percent since July.
Just FYI - Fears that the slowdown in China could hurt the world economy have spread turmoil in global financial markets, toppling the benchmark MSCI Asia Pacific ex-Japan index 16 percent this year.

👉 Tata Motors plant in Sanand will roll out its first non-Nano model in Decembe

Today's Economical Data to watch: 

12:45pm EUR Spanish Services PMI
1:15pm EUR Italian Services PMI
1:20pm EUR French Final Services PMI
1:25pm EUR German Final Services PMI
1:30pm EUR Final Services PMI
2:30pm EUR Retail Sales m/m
5:00pm USD Challenger Job Cuts y/y
5:15pm EUR Minimum Bid Rate
6:00pm EUR ECB Press Conference
6:00pm USD Trade Balance
6:00pm USD Unemployment Claims
7:15pm USD Final Services PMI
7:30pm USD ISM Non-Manufacturing PMI

JP Morgan : DLF Limited (DLFU IN)

$300MM PE transaction to help debt reduction and enable unlocking of "land bank" value
Overweight
Price: Rs105.80
01 Sep 2015
Price Target: Rs210.00
PT End Date: 30 Mar 2016
In one of the largest residential PE transactions in India, DLF today signed a JV agreement with Govt Of Singapore which will enable GIC to invest in two of DLF’s residential projects in Delhi. GIC will invest Rs 19.9B (~US$300MM) as part of this transaction. With this DLF has achieved 90% of its asset sales guidance for the year (Rs 30B) and will end up cash neutral for the year. The company as part of its press release has stated that it will look to do more such transactions to reduce debt and unlock value from its residential portfolio. We expect the company to break into positive FCF zone from F17 onwards as cash flows from its Phase 5 residential projects pick up + old low margin projects deliver out.

· Asset sales should help reduce residential net debt of Rs 70B-DLF’s residential business has a net debt of ~Rs 70B and is currently running cash neutral given drag of old low margin book (sold at low prices). Asset sales for the year (Rs 26B) should enable the company to be largely cash neutral for the year. This as construction costs in the business will be elevated given planned 20msf deliveries of old low margin projects. Once cash flows from its new projects start building up from F17 onwards, we think DLF will break into positive FCF zone. We note that DLF’s ongoing residential projects embed Rs 150B of pre tax FCF, more than enough to fully reduce the residential debt on a 4 year view.

· Pick up in office / retail likely to enable rental business to grow 40% over next 3 years- Office leasing has picked up substantially in India and also in Gurgaon + cap rates in buyouts have been coming down in India (down from 10% a year back to ~9% levels now). Rental portfolio of the company in our view can grow 40% over the next 3 years on the back of new completions and rent escalations in the existing portfolio. Rents are 70% of DLF’s EBITDA and we think are on track to give 12-15% annualized growth medium term. A REIT listing (not factored into our model) if it comes through, could unlock value of this portfolio and also accelerate debt reduction both at the residential and rental portfolio.


Investment Thesis
DLF’s core business has been running FCF negative due to ongoing capex/land payments, while dev co cash flows are weak due to sluggish pre-sales performance. This is expected to reverse over the next year as: (1) capex moderates (once Mall of Noida is operational); (2) rental growth from new mall completions and office leasing improves; (3) interest costs trend down, given the achievement of debt reduction; and (4) residential sales pick up as improved sentiment translates into actual recovery. SAT’s decision on the SEBI ban will be a key stock catalyst over the next month, in our view.

Valuation
We have an Overweight rating on the stock with a Mar-16 PT of Rs210. Our PT is SOTP-based, valuing the dev co at 1x land cost and the rent co at 15x EBITDA.

Risks to Rating and Price Target
Key downside risks: (1) a delay in the new launches and sustained weakness in pre-sales trends; (2) an increase in debt levels; (3) a material de-rating of overall macro fundamentals in India.

Key upside risks: (1) higher-than-expected pre-sales/launch activity; (2) significant upward revisions to Cyber City rentals; and (3) a sharp cut in policy rates.

Call of 02/09/15
@  10:38
Buy Tech Mahindra ltp 528 SL 508 
trgt 544/554


All trgt achvd

Bank Nifty Sep fut (16282)

Intraday view 

Bank nifty if breaks 16230 we can see 
16170..16080...15880

Maintains above 16330. we can see 16480..16620

POSITIONAL VIEW 

TREND IS DOWN 
SELL ON RISE 
We can see 15640...15200 in coming days

Cnx Nifty (7717)

INTRADAY VIEW

Today we can see a pull back in nifty to 7880/7920

As mentioned earlier 
Strong support lies around 
7660..7625..7614 ...7550

If breaks 7540 we can see further lower levels 

POSITIONAL VIEW


Trend is down we can see 7400..7300..6800..6600
Sell on rise should be the strategy until nifty shows any sign of reversal and uptrend resuming 
Strong Resistance
8100..8240...8320..8440

Of the 50 Nifty stocks, 36 fell and 14 gained.
    * Of the 30 Sensex stocks, 23 declined and seven advanced.
    * On NSE, 688 stocks fell, 549 rose and 46 were unchanged.
    * On BSE, 1,394 stocks fell, 1,221 gained and 138 were unchanged.
    * Bank Nifty: Down 1.7%; CNX Metals: Down 1.4%; CNX IT: Up 1.1%]

MARKET UPDATES

INDIAN MARKETS:
SENSEX:25453.56(-242.88)
NIFTY:7717(-68.85)
BANKNIFTY(CASH):162525.7(-277.6)
SGXNIFTY:7740(-49.5)

EUROPEAN MARKETS:
FTSE:6056.93(-1.61)
CAC:4547.45(+6.29)
DAX:10031.58(+16.01)

ASIAN MARKETS:
NIKKIE:18095.4(-70.29)
STRAITS:2878.13(-4.64)
HANGSANG:20934.94(-250.49)
SHANGHAI:3155.04(-11.58)

US FUTURES ON NSE:
DOW FUT:16250(+92.5)
S&P500 FUT:1935.5(+8.5)

GAINERS:
TECHM:+4.63%
IDEA:+3.41%
TCS:+2.14%
ULTRATECH:+1.83%
ACC:+1.81%

LOSERS:
BHEL:-5.17%
PNB:-3.89%
ONGC:-3.8%
M&M:-3.62%
SBI:-3.58%

BHEL falls nearly 5 percent, SBI, M&M and ONGC down more than 3 percent


U.S. index provider MSCI said recent violent market gyrations in China, and a barrage of interventions by the authorities to stop the rout, will not be a factor in deciding whether to include China-listed shares in its emerging markets index.

Veteran U.S. financier Jim Rogers says he has sold his Indian shares because "there was nothing new coming from Modi and investments cannot be made on hope.⁠⁠⁠⁠

DFL cut debit over 50% :CNBC news

@BT_India: #Latest #DLF enters into joint venture with Singapore's GIC, shares rise http://t.co/SDnWWLtwSO http://t.co/2gMrj2eDUA

Call of 02/09/15


@  10:33


Buy Ibrealest ltp 59.60 SL 57 
Trgt 61.80./62.40

High made 61.60 
Near frst trgt trail sl 60.40 in profit

All trgt achvd

Bank Nifty (16563)

Bank Nifty has  support around 15640...15940...
15200

It also had 16640 good support but did not hold yesterday 

Any pull back can take it to 16900..17200

Below support 15200 is coming

Cnx Nifty (7785)

Nifty has strong support zone around 7614..7625..7664.

Lastly 7554 

A bounce can be seen from these levels 

Any closing and next day if maintains below 7540 we can see 7400 coming 

But if holds support in the zone of 7540...7680 zone we can see good pull back in nifty which can lead it to 8020 in 1..2 trading sessions

Chinese Markets Crack At Open SHANGHAI Price:3024.1782 Change: -142.4457 Percent Change: -4.5%

Dow fut +125
Sgx nifty 50+

BloombergTVInd: Govt Official: No levy of M.A.T. on FIIs prior to April 1, 2015 http://t.co/2K3dU8LP3a

Govt accepts AP #ShahPanel report on #MAT.

MARKET UPDATES

INDIAN MARKETS
SENSEX:25696.44(-586.65)
NIFTY:7785.85(-185.45)
BANKNIFTY:(CASH)16530.3(-616.25)
SGXNIFTY:7789.5(-210.5)

EUROPEAN MARKETS:
FTSE:6112.18(-135.76)
CAC:4561.31(-91.64)
DAX:10003.22(-256.24)

ASIAN MARKETS:
NIKKIE:18165.69(-724.79)
STRAITS:2882.77(-38.67)
HANGSANG:21185.43(-485.15)
SHANGHAI:7789.5(-210.5)

US FUTURES ON NSE:
DOW FUT:16155(-332.5)
S&P500 FUT:1927.5(-43)

GAINERS:
BAJAJAUTO:+0.77%
SUNPH:+0.33%
AMBUJA:+0.19%

LOSERS:
PNB:-6.94%
BOB:-6.63%
KOTAK:-5.82%
AXISBK:-5.45%
HINDALCO:-5.12%

26/08/15


@  9:55


Sell Sail ltp 49 SL 52 
trgt 48.50 /46

All Trgt Hit

Call of 31/08/15


@ 13:36

Sell Bank Nifty ltp 17235 SL 17480
trgt 17080/16880 

ALL TRGT HIT

                                                    

Call of 1/09/15

@ 9:55


Sell  Nifty Sep Fut ltp 7937 SL 7980 
trgt 7904/7780


All Trgt Hit

SUN PHARMACEUTICAL INDUSTRIES LTD SUN.NS - SUN PHARMA ANNOUNCES SUCCESSFUL COMPLETION OF OPIATES BUSINESS ACQUISITION IN AUSTRALIA

SUN PHARMACEUTICAL INDUSTRIES LTD SUN.NS - SIGNIFICANTLY EXPANDS NRM CAPABILITY THROUGH TWO OPIATES MANUFACTURING FACILITIES IN AUSTRALIA

SUN PHARMACEUTICAL INDUSTRIES LTD SUN.NS - ACQUISITION ALSO BRINGS A SPECIALIZED TEAM TO DRIVE BUSINESS GROWTH

SUN PHARMACEUTICAL INDUSTRIES - OPIATES ACQUISITION TO ENHANCE OPIATE ALKALOIDS PORTFOLIO AND DEPTH IN GLOBAL OPIATES MARKET

Bank Nifty Sep Fut( 17208)

As mentioned yesterday below 17200 we can see 16800..16880 

Today we can see these levels on opening basis 

16600..16640 levels can act as short term pull back support 


Have to watch these levels

CNX Nifty (7971)

Sgx nifty is trading 100 points down we can see today again a gap down opening 
If the gap maintains we can see 7680 today as mentioned in our earlier reports 

HAVE TO WATCH ON 7680..7600 LEVELS IF ANY REVERSAL HAPPENS 

IF NIFTY HAS TO REVERSE WILL REVERSE ONLY FROM THESE LEVELS 

BELOW 7600 CLOSING BASIS PLEASE KEEP POSITIONS LIGHT OR HEDGE POSITIONS


7600..7680 IMP LEVELS

Sgx at day low 7885.50 ..

down by 116 point appox

Sgx 7926 -74

@CNBCTV18Live: just In: Non-subsidised LPG Prices Cut By Average Rs 26.12/Cylinder (4.3%)

#ITC to enter dairy market with ghee by end of quarter http://t.co/Nd3Kqpiiy0 -- EconomicTimes (@EconomicTimes)

#AxisBank cuts deposit rates by 50 bps http://t.co/gRRhkIWOTj -- EconomicTimes (@EconomicTimes)