INFOSYS

CLSA ON INFOSYS

Cut target to `1325 from `1425, Maintain Buy
Soft guidance and CFO change amidst stellar numbers
Infosys has rediscovered clients using price aggression
Next tough step is defining sources of longterm competitive advantage

CS ON INFOSYS

Rasise target to `1175 from `1150, Maintain Neutral
Strong all-round performance but FY16 guidance maintained
Close to industry leading growth in FY17 would be a tough ask
Growth at the top of the range for peers needed for next phase

BOFA ML ON STEEL

JSW Steel and Sail are the top picks in the sector
Tata Steel likely to benefit from the narrowing pension deficit at TSE
Companies have raised flat steel prices post imposition of safeguard duty
Reduction in producer’s inventory on cards as imports have started trending down
Market concerns of increased CRC imports could be misplaced 
Steep correction in iron ore bodes well for 3Q/4Q earnings 
Decline in imports is much more critical than the price rise

BOFA ML ON INFOSYS

Maintain Buy, Target `1325
Debate on guidance overshadows a strong Q2
Revenue growth was once again broad-based
Stable attrition, in-line margins reflect steady execution

UBS ON INFOSYS

Maintain Sell, Target `810
Q2 FY16 likely to be peak for revenue, share price
Q2 positives - broad-based growth, top-client performance
Q2 Concerns - slowing volume momentum, muted H2 outlook

GS ON OBEROI REALTY

Maintain Buy, Target `406
Oberoi plans to launch its Borivali project over the next month
Borivali launch to increase pre-sales visibility to 4 years
Project has revenue potential of `6000 cr over FY16 - 22
Project has cash flow potential of `4000 cr over FY 16 - 22

GS ON INFOSYS

Maintain Neutral, Target `1100
Weak 2H outlook but valuations are fair
Looks on track to improve its long-term growth trajectory
Weak 2H outlook keeps the trajectory unpredictable
View is  that revenue growth will not match sector leaders

BARCLAYS ON GUJARAT PIPAVAV PORT

Cut target to `196 from `213, Maintain Equal Weight
Competition from JNPT, Hazira, Dahej and Mundra Ports
Traffic growth to be weak near-term and scalability is a challenge
Cut estimates for FY16 - 18 by 1- 17% on recent shift of traffic

Bank nifty (17590)

Bank nifty has to maintain above 17580 to go up 17800..18000


If maintains below 17580 17540 we can see 17340.. 17200

All levels are closing basis

Positional Technicals 

Cnx nifty (8189)

Nifty has to maintain abv 8240 to go up to 8340..8400 level

Strong support lies around 8140..8180 levels

Below 8140 we can see it falling to 7900

NEWS ON INFOSYS:

Infosys Q2: Infosys Lowers FY16 Dollar-Revenue Guidance:

Infosys Q2: FY16 Revenue Guidance At 10-12% In Constant Currency:

Infosys cuts FY16 Dollar growth outlook to 6.4%-8.4%.

CLSA ON INDUSIND BANK
Maintain Buy, Target `1130

Bank stays among our top picks in the banking sector
Core growth, buyout and capital raisings drive top line growth
Casa franchise is scaling-up; base rate transition manageable
Asset quality stable; RWA/total asset ratio stays high
Expect 28% profit CAGR over FY15-18

CS ON NAVKAR CORPORATION

CFS volumes have grown at 10.5% CAGR over FY13-15
Focus on export and hazardous cargo are key differentiators
Mgmt expects strong growth from Vapi ICD, logistics park
Vapi ICD is expected to start shortly on a road basis
Vapi ICD  would connect via rail from 3Q CY16
Management says rail competitive over short distance also

BOFA ML ON AUROBINDO PHARMA
Maintain Buy, Target `935

gAbilify is attractive opportunity; 17 approvals YTD FY16 
gAbilify will add $75mn sales over the next 12 months
Portfolio mix is evolving; injectable launches to ramp-up

UBS ON MOTHERSON SUMI
Cut target to `340 from `355, Maintain Buy
Expect earnings to double in 3 years even in downside case
Strong growth outlook across businesses and M&A upside
Maruti indicates that there is no policy to restrict a vendor to 70% of a business
Sharp market share losses in India unlikely

Drug firm Aurobindo Pharma has received the final approval from the US health regulator FDA to manufacture and market generic Aripiprazole tablets used for treatment of psychotic conditions in the American market.

"The company has received the final approval from the US Food and Drug Administration (USFDA) to manufacture and market Aripiprazole tablets... and the product is ready for launch," Aurobindo Pharma said in a statement on Friday.

The approval is for the tablets in the strengths of 2mg, 5mg, 10mg, 15mg, 20mg and 30mg, it added. The approved ANDA (Abbreviated New Drug Application) is for the generic version of Otsuka Pharmaceutical's Abilify tablets in the same strengths, Aurobindo Pharma said.

The approved product has an estimated market size of USD 7.3 billion for 12 months ending August, the company said stating IMS estimates.

"Aripiprazole tablets are atypical antipsychotic indicated in the treatment symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression)," Aurobindo said. 

The company now has a total of 215 ANDA approvals (187 final approvals including 10 from Aurolife Pharma LLC and 28 tentative approvals)

News from Financial Portals

      
         
#  Japan Sept PMI survey shows services grow at much slower pace         
         
#  Pragmatic Tsipras postpones Greek revolution, trouble lurks          
         
#  Hundreds of thousands protest in Berlin against EU-U.S. trade deal         
         
#  China-backed trade pact playing catch-up after U.S.-led TPP deal         
         
#  China to intensify crackdown on illegal money transfers to fight corruption         
         
#  Commodity surge lifts world equities; dollar falls         
         
#  India cuts holdings of US govt securities to $116.3 bn         
         
#  GMR, Japan's JGC to develop food processing park in Andhra         
         
#  Cotton corporation asked to purchase Punjab cotton         
         
#  Goyal to inaugurate 2 WCL coal mines by month-end         
         
#  India's states to compete for foreign cash as bond market opens up         
         
#  Bandhan Bank to raise Rs 500 crore from investors by March         
         
#  Indirect tax collection this fiscal shows GDP growth robust'         
         
#  Iran says will announce oil and gas contracts in Nov and Feb         
         
#  FPIs halt selling spree, pour in Rs 2,000 cr in Oct so far         
         
#  Pest blights India's GM cotton crop, fuelling debate over risks          
         
#  ONGC may not get much compensation in gas dispute with Reliance Industries         
         
#  FinMin to look into hiking equity investment proposal: PFRDA         
         
#  WPP eyes 10% revenue rise in India, bets on organic growth         
         
#  India's drug stores plan protest against e-pharmacies          
         
#  Kingfisher Airlines owes over Rs.7,000 crore to 17 lenders         
         
#  Sebi fines 34 cos for not fixing investor complaints

IDFC(Initiaties) 
Indian IT sector- 

Indian IT is expected to deliver sustainable double-digit growth despite the volatile economic recovery. Improved business mix would buoy wallet share gains driven by opportunities in disruptive technologies like Cloud, Digital, ER&D, IIoT, BPO and AI. Companies with the right mix of verticals (BFSI, Retail and Telecom – early adopters of Digital) and service offerings (Consulting, Application Development and BPO) would lead the industry. We expect Indian IT to register a CAGR of 12% over FY14-20E. Our picks in the space are the growth leaders – Infosys, Tech Mahindra, TCS, Mindtree, Persistent and Hexaware. Infosys and Tech Mahindra are at the cusp of an earnings upgrade and rerating cycle, whereas TCS would track earnings growth. Among our mid-cap picks, Mindtree, Persistent and Hexaware would outperform driven by sustained industry leading performances. Moreover, the low-to-high-teen valuations of Indian IT despite prospects of double-digit revenue growth provide cushion from downside.

Double-digit growth momentum to sustain:Indian IT is expected to grow at a double-digit rate (12%+ CAGR over FY14-20) driven by market share gains and sustained recovery in the global economy. We believe growth would be driven by: 1) wallet share gain through accelerated Digital spend in the US (23% CAGR over FY14-20E) and 2) greater penetration into newer European geographies (55% market share of sourcing pie), which are at an early stage of the offshoring cycle.

Disruptive technologies – more opportunities than threats: Indian IT has successfully transitioned from just a cost player to a technology partner by improving the business mix. Though Cloud adoption is shrinking the addressable market for IT Services players, we believe Cloud and other disruptive technologies offer Indian IT capacious growth opportunities over FY14-18E: 1) Cloud – 26% CAGR, 2) Managed Security Services – 16%, 3) Enterprise Digital Transformation – 27%, 4) Global ER&D/PES – 15%, 5) IIoT – 35%, 6) BPO – 13% and 7) AI platform – 17%.

Positive on sector, but volatility to stay: A fragile and volatile economic recovery, smaller deal sizes, and disruption in existing business models would induce volatility in the financial performance of the sector. Nevertheless, the capacious growth opportunities would drive revenue/ earnings CAGR of ~11%/ 15% over FY15-18E for our coverage universe. We initiate coverage on Indian IT Services with an Overweight rating. Our top picks are Infosys, TechM and TCS in large-caps, and Mindtree, Persistent, Hexaware and KPIT in mid-caps.

Infosys results

Infosys Q2FY16(QoQ) ET NOW POLL
* $ Revenues: $ 2345 M vs $ 2256 M 
* Revenues: Rs 15225 cr vs Rs 14354 cr (Up 6.06%)
Infosys Q2FY16(QoQ) ET NOW POLL
* EBIT Margin: 24.50% vs 24.01%
* Net Profit : Rs 3292.7 cr vs Rs 3030 cr(Up 8.7%)

Expected Time 
Infosys results at 8.45 am

Infosys Q2FY16 Pre result estimates:

Dollar revenue expected to rise 3.6 percent quarter-on-quarter to USD 2,337 million and rupee revenue is seen rising 5.9 percent to Rs 15,210 crore in the quarter ended September 2015. Earnings before interest and tax (EBIT) may climb 10.2 percent to Rs 3,798 crore and margin may expand 100 basis points sequentially to 25 percent. PAT expected to be seen at 3244 cr versus 3030 cr on QoQ bases. Infosys to maintain its FY16 guidance of 10-12 percent in constant currency (11.5-13.5 percent in rupee terms) and 7.2-9.2 percent in dollar terms (that was increased in previous quarter from 6.2-8.2 percent). (Positive expectations for Infosys, however expectations somewhat priced in as stock already given positive performance recently)

Call of 09/10/15 FRIDAY


@ 09:38



High risk traders Buy Tata Motors ltp 344 
SL 338 trgt 348/354

ALL TRGT HIT

Cnx Nifty (8129)

We can see gap up opening as sgx is trading higher 
Nifty if maintains above 8220 for an hour go long today we can see strong move upto 8320.. 8340..8380 levels 
If maintains below 8190 we can see 8090..60 coming

Motherson biggest client is VW group
No rate hike in USA
Just in : RBI reduces risk weight and Loan to value ratios for banks. Positive for banks.
Big positive for psu banks who r striving for capital
: For 30 lakh category it has been reduced from 50% to 30% with LTV of less than 80%.

Call of 01/09/15 TUESDAY

@ 8:58

Buy ITC  ltp 326 SL 290 
trgt 344/354 /372

Time frame 1 month


FIRST TRGT HIT

Call of 06/10/15 TUESDAY

@ 09:42


Buy Tata chemical  ltp 404 SL 396 
trgt 408/416
                                                                            FIRST TRGT HIT


TODAY'S HIGH 412.50

Call of 01/10/15 THURSDAY



@  9:50



Buy Wock pharma ltp 1534 SL 1504
trgt 1574

TRGT HIT

Call of  01/10/15 THURSDAY

@ 9:51

Buy Ibulhousing ltp 784 SL 770 
trgt 794/798/804


ALL TRGT HIT

September Auto Sales Tata Motors: Jaguar US Sales -12.9% At 995 Units Vs 1,142 Units (YoY)

September Auto Sales Tata Motors: JLR US Sales +61.3% At 6,850 Units Vs 4,248 Units (YoY)

Alembic Pharma gets USFDA nod for Zolmitriptan.

House views
CS on NMDC
Maintains Underperform
TP cut to Rs. 80 from Rs.85

HSBC on Glenmark Pharma
Maintains Hold
TP raised to Rs.1100 from Rs.1082

HSBC on Dr.Reddy’s
Maintains Hold
TP raised to Rs. 4128 from Rs.4105

HSBC on Lupin
Maintains Buy
TP raised to Rs. 2252 from Rs.2002

HSBC on Torrent Pharma
Maintains Buy
TP raised to Rs.1587 from Rs.1549

HSBC on Apollo Hospitals
Maintains Buy
TP raised to Rs.1542 from Rs.1500

UBS on Cipla
Upgraded to Buy from Neutral
TP raised to Rs. 800 from Rs.795

UBS on IPCA Labs
Maintains Neutral
TP raised to Rs. 815 from Rs.760

GS on Mindtree
Maintains Sell
TP raised to Rs. 1150 from Rs.1080

GS on Wipro
Maintains Sell
TP raised to Rs. 530 from Rs.510

GS on HCL Tech
Downgraded to Neutral from Buy
TP cut to Rs. 900 from Rs.1000

GS on Infosys
Maintains Neutral
TP raised to Rs. 1100 from Rs.1050

GS on TCS
Maintains Buy
TP raised to Rs. 2900 from Rs.2850

GS on Tech Mahindra
Maintains Buy
TP raised to Rs. 625 from Rs.610

SG on Tech Mahindra
Maintains Buy
TP raised to Rs. 675 from Rs.625

SG on TCS
Maintains Hold
TP raised to Rs. 2700 from Rs.2480

SG on Wipro
Maintains Buy
TP raised to Rs. 725 from Rs.660


GS on Bharti Airtel
Maintains Buy
TP cut to Rs. 476 from Rs.480

Jefferies on Maruti Suzuki
Downgraded to Underperform from Buy
TP cut to Rs. 3952 from Rs.4876

Jefferies on Coal India
Maintains Buy
TP cut to Rs. 432 from Rs.468

JPMorgan on ONGC
Maintains Neutral
TP cut to Rs. 270 from Rs.345

JPMorgan on Coal India
Maintains Underweight
TP cut to Rs. 340 from Rs.345

Call of 01/10/15 THURSDAY

@10:04


Intraday call
Sell Nifty ltp 8014 SL 8080 
trgt 7984/7960

All trgt achvd

Call of 30/09/15 WEDNESDAY

@  13:32


Buy Colpal ltp 956 SL 940 
trgt 968 /980


FIRST TRGT HIT

STOCK UPDATE

Today we can see good move in 
Wockpharma 
Glenmark
IGL
Ntpc 
Rcom
Ibul housing

NIFTY UPDATE

Nifty has opened gap up but near resistance 
Be cautious !!
Above CNX 8020 can only show uptrend

Call of 30/09/15 WEDNESDAY

@ 11:18

Buy Nifty oct ltp 7916 SL today's low (7894)
trgt 7940/7980++

ALL TRGT HIT

Highlights of RBI's 4th Bi-Monthly Monetary Policy Statement 2015-16 Cogencis, Tuesday, Sep 29

MUMBAI - Following are the highlights of the Reserve Bank of India's
fourth Bi-Monthly Monetary Policy Statement for 2015-16 (Apr-Mar):

MAIN HIGHLIGHTS
* Repo rate cut by 50 bps to 6.75%
* Banks' CRR left unchanged at 4.0% of NDTL
* To continue providing liquidity under variable repos
* Reverse repo rate adjusted to 5.75%
* MSF rate, Bank Rate adjusted to 7.75%
* Banks' CRR left unchanged at 4.0% of NDTL
* Banks' deposit rates have reduced significantly
* Have frontloaded 50 bps cut in repo rate
* Policy stance to continue to be accommodative

INFLATION
* As projected, CPI inflation has dropped to 9-month low
* Food inflation contained by govt's resolute supply mgmt
* Disinflation has been broad-based
* Inflation excluding food, fuel has come off June's peak
* Inflation likely to go up from Sep for a few months
* Favourable base effect seen reversing Sep onwards
* Expect January CPI inflation at 5.8%
* 6% CPI inflation target for Jan "likely to be achieved"

FISCAL
* To fix FPI debt invest limit in rupee terms from now
* Key that proactive supply management by govt be in place
* Pass-through of rupee depreciation will be monitored
* Underlying econ activity weak on sustained export fall
* Underlying econ activity weak on rainfall deficiency
* Commodity prices will remain contained for a while
* Govt has reaffirmed desire to meet fiscal deficit aims
* Govt has reaffirmed desire to improve spending quality
* To work with govt to ensure bks pass on past rate cuts
* Liquidity conditions eased considerably Aug to mid-Sep
* Widening trade gap may push up Jul-Sep CAD modestly
* Cos can issue rupee bonds overseas with 5-yr maturity
* Foreign rupee bond issue within $51 bln corp debt cap
* Non-bks, PDs can take long-positions in when-issued mkt
* No curb on end use of foreign rupee bond issue proceeds
* Standalone PDs can deal in currency futures on bourses
* Norms on standalone PDs' currency futures deals Nov end
* To launch exchange-traded currency F&O in 3 cross pairs
* Exchange-traded currency F&O in euro-dlr, sterling-dlr
* Exchange-traded currency F&O also in dlr-yen
* CCIL member can short-sell gilt to its gilt acct holder
* To up FX hedge cap for residents in OTC mkt to $1 mln

GROWTH
* Cut FY16 output growth forecast to 7.4% vs 7.6% before
* Since Aug, most conditions for further easing been met
* Econ recovery far from robust
* Rural demand remains subdued
* Manufacturing has exhibited uneven growth in Apr-Jul
* Tentative recovery of econ underway

Call of 28/09/15 MONDAY

@ 11:22

Sell Tata steel @ 216 SL  232 
closing basis trgt 199/194
Intraday trgt 211/206


THIRD  TRGT HIT 

TODAY'S LOW 198.80

TATA STEEL :

Tata Steel's deals in Tata Motors under fire

For about five years, Tata Steel has been serious about paring debt by selling non-core assets. And, has raised Rs 17,500 crore.

So, it was no surprise when the company sold 38.5 million shares of Tata Motors at Rs 324.60 each to institutional investors on September 18. The same day, it sold an additional 37.9 mn shares to parent Tata Sons for Rs 330 each. The transactions together brought Rs 2,500 crore to the company.

However, a closer look at Tata Steel’s holdings in Tata Motors reveals it also bought 8.34 mn shares at Rs 448 each for Rs 374 crore by subscribing to the automobile company’s rights issue. These shares were allotted to the company in May, and the recent sales have been at prices lower than what it paid in the rights issue.

The company chose not to respond to detailed queries sent on Friday on the purchase and sale of Tata Motors shares in the past six months.

“The debt levels in Tata Steel have been high for a while, including when they subscribed to the rights issue,

ALERT

50 BPS rate cut

Unchanged CRR @ 4%

Stocks in Focus:

Rate sensitives to be in focus on @RBI decision. India VIX back at 21.6, volatility to continue in markets.

Today, FIPB likely to take up 31 foreign investment proposals including that of Cipla, Aditya Birla Nuvo and HDFC Capital Advisors. Among others, proposals of SPARC, Strides Arcolab and Apollo Hospitals Enterprise are on the agenda.

@CNBCTV18Live :
CNBC-TV18 Exclusive Sources Say : 
Shree Renuka Sugar’s Brazilian Co May File For Chapter 11 (Bankruptcy) Today.

Call of 28/09/15 MONDAY


@ 11:22



Sell Tata Steel @ 216 SL 232 
closing basis trgt 199/194
Intraday trgt 211/206

HIGH RISK TRADERS CAN SELL HERE 214

Frst trgt achvd 
MADE LOW OF 209

Call of 24/09/15 THURSDAY

@ 16:16


Sell Crude ltp 2980 SL 3040
trgt 2969/2956/2924

ALL TRGT HIT

Inter-ministerial body FIPB on September 29 (Tomorow) will take up 31 foreign investment proposals including that of Cipla, Aditya Birla Nuvo and HDFC Capital Advisors. Among others, proposals of SPARC, Strides Arcolab and Apollo Hospitals Enterprise are on the agenda

Call of 28/09/15 MONDAY

@ 9:52

Sell Wock Pharma ltp 1420 SL 1440 
trgt 1408
If maintains below 1404 we can see 1398/1394

ALL TRGT HIT

F&O Inclusions from today :

BEML, 
Cadila,
Bharti Infra, 
Marico, 
NCC, 
TV18

ET NOW BROKERAGE

CLSA ON POWER GRID
@darshanetnow
Maintain Buy, Target `166
NE-Agra Project commissioned - the largest project of Power Grid
Project start can boost the visibility of 20% EPS growth over FY15 - 17
Project can reduce capital stuck in capital work-in-progress by 15%

BARCLAYS ON SIEMENS
@darshanetnow
Cut target to `711 from `731, Maintain Underweight
Valuations remain challenging despite recent share price correction
Expect most positive drivers to emerge only from FY19
Revival in industrial capex already reflected in current valuations
Has lost market share in both transformer and substation orders 

CS ON AARTI INDUSTRIES
@darshanetnow
Management remains confident of a 15-20% volume CAGR
On track to achieve a 20-25% earnings CAGR over the next few years
Product mix will gradually change in the favour of higher-margin products
Restructuring complete; de-merger likely by FY17
Stock trades at 14x FY17E consensus EPS, after 95% returns in CY15

BOFA ML ON BHEL
@darshanetnow
Cut target to `155 from `158, Maintain Underperform
CEA denies technical clearance for the Telangana project
Projects rejected by CEA are not given environmental clearance
Telangana project represents `5000 cr or 4%of order book
1,320 MW Ennore project cancelled by Madras High Court
Cut FY16-18 EPS estimates by 3-5% on recent order cancellations

GS ON BAJAJ AUTO
@darshanetnow
Maintain Sell, Target `1974
New launches fail to revive domestic fortunes
Efforts to revive the Discover brand are not yielding results
Pulsar launches has not helped their volumes and market share
Motorcycles category is losing ground to scooters

NOMURA ON EMAMI
@darshanetnow
Downgrade to Neutral from Buy, Target `1200 from `1010
Downgrade stocks as all positives seem to be priced in
At current levels, prefer Dabur, Godrej and HUL
New acquisitions and business poised for high growth

NOMURA ON AMARA RAJA
@darshanetnow
Downgrade to Reduce from Buy; Raise target `824 from `568
Telecom segment slowdown could be a key headwind 
Market expectations seem too optimistic
Expect replacement battery industry growth to slow to 7.5%

NOMURA ON EXIDE
@darshanetnow
Maintain Neutral, Target `159 from `164
Slow industry growth limits upside
Industrial segment likely to be affected by improving power supply
Inability to gain share from unorganised segment is key risk
Economic Times

Business Standard
Ø  Foreign investors get relief from controversial MAT

Ø  Marriage of Regulators: FMC to merge with Sebi

Ø  Mobiles to fall under separate category in revised IIP

Ø  Lenders approve higher cost in 4 Lanco projects

Ø  Russian traders want JV with Indian tea cos

Ø  Maruti's agitating workers chalk out future strategy

Ø  NALCO to invest over Rs 65K cr for new projects

Ø  FIPB to take up 31 FDI proposals on Tuesday


Ø  India will be $20-trillion economy: PM at Facebook event

Ø  Rajeev Agarwal to oversee commodities at Sebi

Ø  FPIs in selling mode, take out Rs 6,000 cr in Sept

Ø  Top six cos take Rs 53,886 cr hit in market valuation

Ø  MMTC to produce, market sovereign gold coins

Ø  ICICI makes aggressive push in unsecured loans

Ø  JPMorgan schemes to hive off Amtek holdings

Ø  Liberty to raise stake in joint venture with Videocon to 49%

Business Line

Mint
Ø  SEBI steps up measures against SMS, social media scams 

Ø  India will play big part in driving technology forward: Pichai

Ø  Lenders want Amtek promoters to inject some equity first 

Ø  Four SME IPOs to hit capital markets this week 

Ø  BSE gets shareholders’ nod to list its shares

Ø  Moser Baer to focus on LED products, targets ₹500-cr market size in 3 years 


Ø  Govt to complete spectrum harmonisation by December end

Ø  Xi Jinping pledges $2 billion for South-South cooperation

Ø  Laid-off Ssangyong workers in Mumbai seeking reinstatement: Mahindra

Ø  German transport authority asks Volkswagen to present car clean-up plan

Ø  Narendra Modi shows keen interest in Tesla technology

Financial Express

Financial Chronicle
Ø  Modi invites Apple CEO Tim Cook to set up manufacturing base

Ø  SAIL invests Rs 2,
600 cr in Rourkela plant for hot rolled coils

Ø  Qualcomm announces to invest $150 mn for Indian start-ups

Ø  ITC aims Rs 18K cr revenue from agriculture business by ‘21

Ø  US FDA revokes approval for Sun Pharma's seizure drug over compliance issues


Ø  MFs go slow on debt investments in Sept

Ø  Stamp duty may be scrapped on property transfers to Reits

Ø  Farmers may get right to sell crop at benchmark

Ø  Agri-commodities expect upside in medium term

The last of RBI’s rate cuts for now?: RBI is expected to follow a neutral monetary stance after the policy rate drops to 7%. The fight against inflation from now on may not be easy
http://www.livemint.com/Opinion/PmUMCaqPPFOFqutejshaFO/The-last-of-RBIs-rate-cuts-for-now.html

Five key announcements by US tech titans during Modi’s Silicon Valley visit: Google has announced plans to set up base for free wifi at 500 railway stations while Microsoft will take low-cost broadband technology to some five lakh villages
http://www.livemint.com/Politics/pzGz7LXgMEYlpz4bVDBSCM/5-key-announcements-by-US-tech-titans-during-Modis-Silicon.html

FIPB to take up 31 FDI proposals on Tuesday: FIPB first clears those FDI proposals which are considered sensitive for the economy
http://www.livemint.com/Politics/h5Za7ZkavAVrSfVes2ntkN/FIPB-to-take-up-31-FDI-proposals-on-Tuesday.html

Forward earnings forecast can mislead: For Nifty companies, actual earnings have fallen short of analyst estimates in every year since the Lehman crisis of 2008
http://www.business-standard.com/article/markets/forward-earnings-forecast-can-mislead-115092800011_1.html

Maruti's agitating temporary workers chalk future strategy: Company sources reiterated the management was open to listening to the workers' concerns
http://www.business-standard.com/article/companies/maruti%E2%80%99s-agitating-temporary-workers-chalk-future-strategy-115092700650_1.html

PSU divestment: Govt woos Australian, Canadian pension funds: Sees advantages in having these as long-term investors; finds a response but will have to overhaul our units' information-sharing culture
http://www.business-standard.com/article/economy-policy/psu-divestment-govt-woos-australian-canadian-pension-funds-115092800019_1.html


Buy rating on Strides Arcolab: Strides’ unique business model likely to yield the company dividends: It has the tangible and intangible capabilities to grow 
http://www.financialexpress.com/article/markets/indian-markets/buy-rating-on-strides-arcolab-strides-unique-business-model-likely-to-yield-the-company-dividends/142308/

Retro tax mess: Arun Jaitley gets his act together, big boost for Modi dispensation: If FM Arun Jaitley succeeds in cleaning up the retrospective tax mess, it will be a big boost for PM Narendra Modi-led dispensation, reeling under Parliamentary setbacks on the Land Acquisition and GST Bills.
http://www.financialexpress.com/article/fe-columnist/retro-tax-mess-arun-jaitley-gets-act-together-big-boost-for-narendra-modi-govt-expected/142132/

To hire or own a car: If you travel up to 25 km daily, it makes sense to use taxi-hailing apps. If over 75 km, owning a vehicle is cheaper
http://www.business-standard.com/article/pf/to-hire-or-own-a-car-115092700733_1.html

Bajaj Auto to launch quadricycle Qute in 16 countries at a price of around $2000 - The Economic Times on Mobile - http://m.economictimes.com/industry/auto/news/passenger-vehicle/cars/bajaj-auto-to-launch-quadricycle-qute-in-16-countries-at-a-price-of-around-2000/articleshow/49104800.cms

Call of 24/09/15 THURSDAY

@ 16:16


Sell Crude ltp 2980 SL  3040
trgt 2969/2956/2924

Frst trgt achvd
Trail sl to 3014

Deep cut in Tata Steels EPS by Macquarie.Cuts FY16-17e EPS By 88-55%,Target price Cut To Rs 194 From Rs 307.

Market Today

Global equities mixed

US markets closed marginally lower. S&P 500 lost 0.2% to 1,938 on selling in commodity shares. Tracking the cues Asian markets opened mixed.

India consumer confidence slips in September

Consumer confidence in India waned in September on reduced optimism about personal finances, according to the ANZ-Roy Morgan India Consumer Confidence index. This is the second month in a row the index has fallen. 

RBI proposes easier ECB norms

The Reserve Bank of India (RBI) came out with a draft paper that allows Indian companies to raise funds from a wider class of lenders, reports Business Standard. According to the proposals companies can take the external commercial borrowings route for raising 10-year funds which is capped at five years now, the report says.

L&T to sell assets, dilute stake in non-core subsidiaries

Larsen and Toubro Ltd (L&T) is looking to sell some assets including roads and infrastructure projects and dilute its stake in non-core subsidiaries to revive performance, reports Reuters. In another report, the company is seeing little sign of economic recovery, with some of its factories running below capacity.

Coal India may revise capital expenditure plan

Coal India Ltd (CIL) may revise its five-year capital expenditure due to land acquisition issues, reports Business Standard. The company has to acquire an additional 20,000 acres to meet its annual production target.

NTPC’s aversion to fresh equity may stall Dabhol spin-off

A proposal to split Ratnagiri Gas and Power Pvt. Ltd (RGPPL) into two companies, one running the Dabhol Power plant and the other the liquefied natural gas terminal, has run into trouble with one of the shareholders, NTPC Ltd, expressing its reluctance to put in more equity, reports Mint.

R-Com close to selling telecom tower business

Reliance Communications Ltd (R-Com) is moving towards complete exit from the telecom tower business, reports The Economic Times. According to the report, the tower business is valued at Rs.20,000-24,000 crore.

Bajaj Auto to begin exports of RE60

Bajaj Auto Ltd is set to begin exports of its quadricycle RE60, after the company got approvals from a European certification agency, reports Mint.

Aban Offshore aims to reduces debt by 10%

Aban Offshore Ltd is planning to reduce its debt by 10% this year, reports Business Standard. The company moved an enabling resolution to get shareholders’ approval to raise funds through depository receipts and qualified institutional placements.

Blackstone to rise holding in Gateway Rail Freight

Private equity firm Blackstone is set to increase its shareholding in Gateway Rail Freight Ltd, a unit of Gateway Distriparks Ltd, by converting its preference shares into equity.

Rating on GMR’s road project cut to default

CARE has cut the long-term loans ratings on the GMR Hyderabad-Vijayawada Expressways to default grade, reports Business Standard. GMR Infrastructure holds 90% stake in the expressways.

Lenders take over Visa Steel

Lenders to the Visa Steel Ltd has decided to convert debt into equity by invoking strategic debt restructuring (SDR) rules.

RBI plans to introduce repo in corporate bonds in order to bring in liquidity for traders - http://t.co/EOsbkU9mNF

Call of 15/09/15 TUESDAY

@ 9:58


Buy Ceat ltp 1218 SL  1180 
trgt 1228/1240 /1280



All trgt achvd

Call of 15/09/15 TUESDAY

@ 9:58


Buy Ceat ltp 1218 SL 1180 
trgt 1228/1240 /1280

SECOND TRGT HIT

Opening is a gap down if nifty does not fill the gap we can see selling pressure till 7640 positional support of  Inverse head and shoulder
In coming days

Cnx Nifty (7982)

Positional charts are showing formation of positive pattern  inverse head and shoulder

Any dip can be used as an buying opportunity 


Levels will be informed 

Inraday support 7880..7920

Resistance 8000..8040

STOCK UPDATES

ADLABS ENTERTAINMENT: Is looking to set up theme parks in Delhi and
Hyderabad. (ET)

* ARSS INFRASTRUCTURE PROJECTS: Has got a 1.48-bln-rupee order from the
Odisha government for the expansion and widening of some sections of National
Highway-326 and State Highway-4 into two lanes. (Cogencis)

* ASIAN PAINTS: Plans to set up a paints manufacturing unit in Mysore in
Karnataka with an investment of about 23 bln rupees. (Cogencis)

* AUROBINDO PHARMA: Has got approval from the US Food and Drug Administration
for gemfibrozil tablets, a generic version of Pfizer's cholesterol lowering
drug Lopid. (Cogencis)

* BAJAJ HINDUSTAN: The company's Lalitpur Power Generation Co has commissioned
first out of the three 660 MW capacity units of its thermal power plant in
Mirchwara, Uttar Pradesh. (FE)

* BANK OF MAHARASHTRA: Is keen to expand its business in northern India,
Executive Director R.K. Gupta said. (BL, Sat)

* DELTA CORP: Route One Fund has sold 3.28% stake in the company through an
open market transaction. (PTI)

* HOTEL LEELAVENTURE: Has signed an agreement to sell its Goa hotel to
Malaysia's MetTube for 7.25 bln rupees. (BL)

* IDFC: The Reserve Bank of India has approved the company to make additional
provisioning of up to 25 bln rupees in Jul-Sep against stressed assets. The
company said the additional provision will result in a one-time loss in
Jul-Sep. (Cogencis)

* MAHINDRA HOLIDAYS & RESORTS INDIA: Is planning to cut down the debt of
recently acquired Finland-based company, Holiday Club Resorts Oy through asset
divestment. (ET)

* MARUTI SUZUKI INDIA: Is expecting that its parent, Suzuki Motor Corp will
soon get much-delayed clearance from the Gujarat government for its upcoming
plant. (PTI)
    Has approached the Inland Waterways Authority of India to explore
opportunity to access eastern markets through Varanasi-Haldia route. (BL)

* MMTC: Bharti Enterprises' Vice-Chairman Akhil Gupta is in talks to buy 5%
stake in Indian Commodity Exchange from the company. (ET, Sat)

* NAGARJUNA OIL REFINERY: Lenders are seeking compensation from the company's
prospective investor, Netoil Singapore under the debt recast plan. (BL)

* NATIONAL BUILDING CONSTRUCTION CORP: Has got a 1.97-bln-rupee order from
the Ministry of Textiles to construct a trade facilitation centre and crafts
museum at Varanasi in Uttar Pradesh. (Cogencis)

* POWER MECH PROJECTS: Has got a 1.67-bln-rupee contract from Jaypee Group's
Prayagraj Power Generation Co to operate and maintain services of a thermal
power plant at Bara in Uttar Pradesh. (Cogencis)

* RURAL ELECTRIFICATION CORP: Is planning to raise funds through issuance of
bonds maturing in five years, and has invited bids from merchant bankers on
Sep 21. (Cogencis)

* SUN PHARMACEUTICAL INDUSTRIES: Has sold two central nervous system
divisions, which were a part of erstwhile Ranbaxy Laboratories, to STRIDES
ARCOLAB for 1.65 bln rupees. (Cogencis)

* VIJAYA BANK: Has reduced interest rates on some bulk deposits by
25 basis points effective Sep 19. (Cogencis)

* TATA STEEL: Has sold 37.88 mln shares of TATA MOTORS to the holding company
Tata Sons at 330 rupees a piece, raising 12.5 bln rupees. (Cogencis)
    Has raised more than 41 bln rupees through sale of non-core assets so far.
(PTI)

* TD POWER SYSTEMS: Has received an order from a European company to supply
multiple 10 MW generators for a power plant in Germany. (Cogencis)

* TORRENT POWER: The government has allocated natural gas to three stranded
power plants of the company for six months starting Oct 1 following the
recent auctions. (Cogencis)

* YES BANK: Has reduced interest rates on some term deposits by 25 basis
points effective Sep 18. (Cogencis)

House views 
Macquarie on Crompton Greaves
Maintains Outperform
TP cut to Rs. 249 from Rs.256

Macquarie on Coal India
Maintains Outperform
TP raised to Rs. 430 from Rs.429

UBS on Tata Power
Maintains Neutral
TP cut to Rs. 72 from Rs.85

UBS on NTPC
Maintains Neutral
TP cut to Rs. 140 from Rs.150

UBS on JSW Energy
Maintains Buy
TP cut to Rs. 110 from Rs.130

UBS on SKS Microfinance
Downgraded to Neutral from Buy
TP cut to Rs. 500 from Rs.650

UBS on Voltas
Maintains Buy
TP cut to Rs. 350 from Rs.360

CS on SKS Microfinance
Upgraded to Outperform from Neutral
TP maintained at Rs. 480

Barclays on Dr Reddy’s Labs
Maintains Overweight
TP raised to Rs. 4634 from Rs. 4503