GDP (QoQ) (Q2) ACTUAL 0.4%,
GDP (YoY) (Q2) ACTUAL 1.5%
GDP (YoY) (Q2) ACTUAL 1.5%
Tuesday, 8 September 2015
Monday, 7 September 2015
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
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
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
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
Friday, 4 September 2015
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
*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
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
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)
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)
Thursday, 3 September 2015
➡ 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
➡ 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
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
👉 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
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.
$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.
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
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
Wednesday, 2 September 2015
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%
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.
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.
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
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
Tuesday, 1 September 2015
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%
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%
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
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
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 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
Monday, 31 August 2015
Monthly calendar for September 2015
Key data releases for September 2015
September 1
EZ, US, JN, CH, IN: Markets await manufacturing PMI data for August
AU: Reserve Bank of Australia (RBA) policy decision awaited
September 2
US: ADP employment change data for August awaited
September 3
EZ: European Central Bank (ECB) policy decision awaited
September 4
US: Markets will closely track nonfarm payrolls (NFP) for August
September 8
JN: Q2 2015 GDP (final reading) will be closely watched
EZ: Markets will closely track Q2 2015 GDP (second reading)
September 9
CA: Bank of Canada (BoC) policy decision awaited
September 10
NZ: Reserve Bank of New Zealand (RBNZ) policy decision awaited
UK: Bank of England (BoE) policy decision awaited
September 11
IN: Markets will closely watch Industrial production data print for July
September 14
IN: WPI data for August will be closely tracked
IN: Markets await August CPI data print
September 15
JN: Bank of Japan (BoJ) policy decision awaited
AU: RBA policy minutes (September meet) will be closely watched
September 17
SZ: Swiss National Bank (SNB) policy decision awaited
US: FOMC policy decision awaited
September 25
US: Q2 2015 GDP (third reading) will be closely tracked
September 29
IN: Reserve Bank of India (RBI) policy decision awaited
September 30
UK: Markets await Q2 2015 GDP (final reading) data
IN: August fiscal deficit awaited
US: ADP employment change data for September awaited
Key data releases for September 2015
September 1
EZ, US, JN, CH, IN: Markets await manufacturing PMI data for August
AU: Reserve Bank of Australia (RBA) policy decision awaited
September 2
US: ADP employment change data for August awaited
September 3
EZ: European Central Bank (ECB) policy decision awaited
September 4
US: Markets will closely track nonfarm payrolls (NFP) for August
September 8
JN: Q2 2015 GDP (final reading) will be closely watched
EZ: Markets will closely track Q2 2015 GDP (second reading)
September 9
CA: Bank of Canada (BoC) policy decision awaited
September 10
NZ: Reserve Bank of New Zealand (RBNZ) policy decision awaited
UK: Bank of England (BoE) policy decision awaited
September 11
IN: Markets will closely watch Industrial production data print for July
September 14
IN: WPI data for August will be closely tracked
IN: Markets await August CPI data print
September 15
JN: Bank of Japan (BoJ) policy decision awaited
AU: RBA policy minutes (September meet) will be closely watched
September 17
SZ: Swiss National Bank (SNB) policy decision awaited
US: FOMC policy decision awaited
September 25
US: Q2 2015 GDP (third reading) will be closely tracked
September 29
IN: Reserve Bank of India (RBI) policy decision awaited
September 30
UK: Markets await Q2 2015 GDP (final reading) data
IN: August fiscal deficit awaited
US: ADP employment change data for September awaited
MARKET UPDATES
INDIAN MARKETS:
SENSEX:26283.09(-109.29)
NIFTY:7971.3(-30.65)
BANKNIFTTY(CASH)17146.55(-65.4)
SGXNIFTY:8000(-19.5)
ASIAN MARKETS:
NIKKIE:-18890.48(-245.84)
STRAITS:2921.44(-34.5)
HANGSANG:21670.58(+58.19)
SHANGHAI:3207.07(-25.28)
EUROPEAN MARKETS:
FTSE:6247.94(+55.91)
CAC:4642.39(-32.74)
DAX:10234.08(-647.76)
US FUTURES ON NSE:
DOW FUT:16500(-22.5)
S&P500 FUT:1970.25(-5)
GAINERS:
LUPIN:+4.01%
CIPLA:+3.38%
DRREDDY:+2.92%
BPCL:+2.58%
COAL:+2.46%
LOSERS:
BHEL:-3.47%
POWERGRD:-3.33%
BHARTI:-2.26%
BAJAJAUT:-2.06%
ACC:-2.05%
SENSEX:26283.09(-109.29)
NIFTY:7971.3(-30.65)
BANKNIFTTY(CASH)17146.55(-65.4)
SGXNIFTY:8000(-19.5)
ASIAN MARKETS:
NIKKIE:-18890.48(-245.84)
STRAITS:2921.44(-34.5)
HANGSANG:21670.58(+58.19)
SHANGHAI:3207.07(-25.28)
EUROPEAN MARKETS:
FTSE:6247.94(+55.91)
CAC:4642.39(-32.74)
DAX:10234.08(-647.76)
US FUTURES ON NSE:
DOW FUT:16500(-22.5)
S&P500 FUT:1970.25(-5)
GAINERS:
LUPIN:+4.01%
CIPLA:+3.38%
DRREDDY:+2.92%
BPCL:+2.58%
COAL:+2.46%
LOSERS:
BHEL:-3.47%
POWERGRD:-3.33%
BHARTI:-2.26%
BAJAJAUT:-2.06%
ACC:-2.05%
NIFTY UPDATE
Nifty has opened on a weak note if trades below 7920 and maintains we can see 7680 levels soon
Godrej agrovet to buy promoters stake in astec lifesciences at 190. http://corporates.bseindia.com/xml-data/corpfiling/AttachLive/C2988586_80AB_4FDC_A88C_9E76A1CBDB4F_134711.pdf
Godrej sep fut can show good move above 372 to 383..403
Sl 360
If faces resistance around 372 breaks 360 we can see it falling to 340
Godrej sep fut can show good move above 372 to 383..403
Sl 360
If faces resistance around 372 breaks 360 we can see it falling to 340
Cnx Nifty (8001)
Last week we saw a gap down trades and nifty slipped down to 7667
It managed to cover up the zone from 7667..8000 with a gap up opening on Friday resulted with a doji and close above 8000
This week if maintains above 8100 we can see 8200..8400 levels
If maintains below 8000
We can again slip down to 7680 levels and lower
Keep positions light
Last week we saw a gap down trades and nifty slipped down to 7667
It managed to cover up the zone from 7667..8000 with a gap up opening on Friday resulted with a doji and close above 8000
This week if maintains above 8100 we can see 8200..8400 levels
If maintains below 8000
We can again slip down to 7680 levels and lower
Keep positions light
SGX Nifty -35 (7980) from last trade 8015 ,
Nikkei -134 pts , Hangseng +180 pts , NOW @6.54am ,
Dow:16643 -11 -0.07%
Nasdaq:4828 +15 +0.32%
S&P500:1988 +1 +0.06%
Infy:+1.39%, Wit:+1.02%
Ttm:+0.94%, Rdy:+0.08%
Hdb:+1.02%, Ibn:+0.23%
SBID:+0.76%, RIGD:+0.00%
Us/Inr: $66.19, Eu/Us:1.12
DIX: 95.90, JPY: 121.29
Gold: $1131, Silver: $14.50
Oil: $44.59, Brent: $49.33
US10-YR :2.1807% -0.005
Nikkei -134 pts , Hangseng +180 pts , NOW @6.54am ,
Dow:16643 -11 -0.07%
Nasdaq:4828 +15 +0.32%
S&P500:1988 +1 +0.06%
Infy:+1.39%, Wit:+1.02%
Ttm:+0.94%, Rdy:+0.08%
Hdb:+1.02%, Ibn:+0.23%
SBID:+0.76%, RIGD:+0.00%
Us/Inr: $66.19, Eu/Us:1.12
DIX: 95.90, JPY: 121.29
Gold: $1131, Silver: $14.50
Oil: $44.59, Brent: $49.33
US10-YR :2.1807% -0.005
Rajan hints at rate cut; inflation down quicker than expected
Indicating an imminent rate cut, RBI Governor Raghuram Rajan has said inflation has come down to the comfort zone quicker than expected and he is keeping a watch on data to see how much room is there for further easing of the monetary policy.
"We are on a phase of accommodation. We are still in that phase. We are looking at the data to see what more room we have," Rajan said.
Stating that RBI monetary policy has been accommodative, Rajan said he has cut interest rates thre .
http://bit.ly/1Kma5Bg
Indicating an imminent rate cut, RBI Governor Raghuram Rajan has said inflation has come down to the comfort zone quicker than expected and he is keeping a watch on data to see how much room is there for further easing of the monetary policy.
"We are on a phase of accommodation. We are still in that phase. We are looking at the data to see what more room we have," Rajan said.
Stating that RBI monetary policy has been accommodative, Rajan said he has cut interest rates thre .
http://bit.ly/1Kma5Bg
Saturday, 29 August 2015
Derivative Segment :: Lot Size revision from 28 Aug (only Fresh Contracts) Symbol > Present> Revised > change> ch% Upward Revision
BEL > 125 > 150 > 25 > 20%
DRREDDY > 125 > 150 > 25 > 20%
GRASIM > 125 > 150 > 25 > 20%
OFSS > 125 > 150 > 25 > 20%
BAJAJ-AUTO > 125 > 200 > 75 > 60%
BRITANNIA > 125 > 200 > 75 > 60%
HEROMOTOCO > 125 > 200 > 75 > 60%
TCS > 125 > 200 > 75 > 60%
ULTRACEMCO > 125 > 200 > 75 > 60%
ABIRLANUVO > 125 > 250 > 125 > 100%
COLPAL > 125 > 250 > 125 > 100%
DIVISLAB > 125 > 300 > 175 > 140%
LT > 125 > 300 > 175 > 140%
LUPIN > 125 > 300 > 175 > 140%
ACC > 125 > 375 > 250 > 200%
WOCKPHARMA > 125 > 375 > 250 > 200%
JUBLFOOD > 250 > 300 > 50 > 20%
AJANTPHARM > 250 > 400 > 150 > 60%
APOLLOHOSP > 250 > 400 > 150 > 60%
HDFC > 250 > 400 > 150 > 60%
M&M > 250 > 400 > 150 > 60%
MINDTREE > 250 > 400 > 150 > 60%
SIEMENS > 250 > 400 > 150 > 60%
SRF > 250 > 400 > 150 > 60%
STAR > 250 > 400 > 150 > 60%
BATAINDIA > 250 > 500 > 250 > 100%
BHARATFORG > 250 > 500 > 250 > 100%
GLENMARK > 250 > 500 > 250 > 100%
HDFCBANK > 250 > 500 > 250 > 100%
INFY > 250 > 500 > 250 > 100%
JUSTDIAL > 250 > 500 > 250 > 100%
RELIANCE > 250 > 500 > 250 > 100%
UBL > 250 > 500 > 250 > 100%
AMARAJABAT > 250 > 600 > 350 > 140%
ASIANPAINT > 250 > 600 > 350 > 140%
HCLTECH > 250 > 600 > 350 > 140%
HINDUNILVR > 250 > 600 > 350 > 140%
INDUSINDBK > 250 > 600 > 350 > 140%
JSWSTEEL > 250 > 600 > 350 > 140%
SRTRANSFIN > 250 > 600 > 350 > 140%
SUNPHARMA > 250 > 600 > 350 > 140%
YESBANK > 250 > 700 > 450 > 180%
KSCL > 250 > 750 > 500 > 200%
BPCL > 500 > 600 > 100 > 20%
HINDPETRO > 500 > 600 > 100 > 20%
AUROPHARMA > 500 > 700 > 200 > 40%
CEATLTD > 500 > 700 > 200 > 40%
KOTAKBANK > 500 > 700 > 200 > 40%
CENTURYTEX > 500 > 800 > 300 > 60%
CIPLA > 500 > 800 > 300 > 60%
IBULHSGFIN > 500 > 800 > 300 > 60%
AXISBANK > 500 > 1000 > 500 > 100%
CESC > 500 > 1000 > 500 > 100%
PIDILITIND > 500 > 1000 > 500 > 100%
SKSMICRO > 500 > 1000 > 500 > 100%
TECHM > 500 > 1000 > 500 > 100%
UPL > 500 > 1000 > 500 > 100%
WIPRO > 500 > 1000 > 500 > 100%
BIOCON > 500 > 1100 > 600 > 120%
CASTROLIND > 500 > 1100 > 600 > 120%
DHFL > 500 > 1100 > 600 > 120%
IGL > 500 > 1100 > 600 > 120%
LICHSGFIN > 500 > 1100 > 600 > 120%
TATACHEM > 500 > 1100 > 600 > 120%
TATACOMM > 500 > 1100 > 600 > 120%
OIL > 500 > 1200 > 700 > 140%
RELINFRA > 500 > 1300 > 800 > 160%
RELCAPITAL > 500 > 1500 > 1000 > 200%
TATAMOTORS > 500 > 1500 > 1000 > 200%
SUNTV > 500 > 2000 > 1500 > 300%
ADANIENT > 500 > 6000 > 5500 > 1100%
MOTHERSUMI > 750 > 1500 > 750 > 100%
BHARTIARTL > 1000 > 1200 > 200 > 20%
COALINDIA > 1000 > 1200 > 200 > 20%
IOC > 1000 > 1200 > 200 > 20%
GODREJIND > 1000 > 1300 > 300 > 30%
ZEEL > 1000 > 1300 > 300 > 30%
GAIL > 1000 > 1400 > 400 > 40%
TITAN > 1000 > 1500 > 500 > 50%
ADANIPORTS > 1000 > 1600 > 600 > 60%
ITC > 1000 > 1600 > 600 > 60%
VOLTAS > 1000 > 1600 > 600 > 60%
ARVIND > 1000 > 1700 > 700 > 70%
ICICIBANK > 1000 > 1700 > 700 > 70%
BHEL > 1000 > 2000 > 1000 > 100%
CANBK > 1000 > 2000 > 1000 > 100%
DABUR > 1000 > 2000 > 1000 > 100%
HAVELLS > 1000 > 2000 > 1000 > 100%
HEXAWARE > 1000 > 2000 > 1000 > 100%
M&MFIN > 1000 > 2000 > 1000 > 100%
ONGC > 1000 > 2000 > 1000 > 100%
PFC > 1000 > 2000 > 1000 > 100%
RECLTD > 1000 > 2000 > 1000 > 100%
SBIN > 1000 > 2000 > 1000 > 100%
TATASTEEL > 1000 > 2000 > 1000 > 100%
TVSMOTOR > 1000 > 2000 > 1000 > 100%
AMBUJACEM > 1000 > 2100 > 1100 > 110%
IRB > 1000 > 2100 > 1100 > 110%
TATAMTRDVR > 1000 > 2100 > 1100 > 110%
ENGINERSIN > 1000 > 2200 > 1200 > 120%
MCLEODRUSS > 1000 > 2200 > 1200 > 120%
BANKINDIA > 1000 > 3000 > 2000 > 200%
CAIRN > 1000 > 3000 > 2000 > 200%
ORIENTBANK > 1000 > 3000 > 2000 > 200%
APOLLOTYRE > 2000 > 3000 > 1000 > 50%
CROMPGREAV > 2000 > 3000 > 1000 > 50%
IDEA > 2000 > 3000 > 1000 > 50%
PETRONET > 2000 > 3000 > 1000 > 50%
UNIONBANK > 2000 > 3000 > 1000 > 50%
BANKBARODA > 2000 > 3100 > 1100 > 55%
HINDZINC > 2000 > 3200 > 1200 > 60%
IDFC > 2000 > 3300 > 1300 > 65%
BEL > 125 > 150 > 25 > 20%
DRREDDY > 125 > 150 > 25 > 20%
GRASIM > 125 > 150 > 25 > 20%
OFSS > 125 > 150 > 25 > 20%
BAJAJ-AUTO > 125 > 200 > 75 > 60%
BRITANNIA > 125 > 200 > 75 > 60%
HEROMOTOCO > 125 > 200 > 75 > 60%
TCS > 125 > 200 > 75 > 60%
ULTRACEMCO > 125 > 200 > 75 > 60%
ABIRLANUVO > 125 > 250 > 125 > 100%
COLPAL > 125 > 250 > 125 > 100%
DIVISLAB > 125 > 300 > 175 > 140%
LT > 125 > 300 > 175 > 140%
LUPIN > 125 > 300 > 175 > 140%
ACC > 125 > 375 > 250 > 200%
WOCKPHARMA > 125 > 375 > 250 > 200%
JUBLFOOD > 250 > 300 > 50 > 20%
AJANTPHARM > 250 > 400 > 150 > 60%
APOLLOHOSP > 250 > 400 > 150 > 60%
HDFC > 250 > 400 > 150 > 60%
M&M > 250 > 400 > 150 > 60%
MINDTREE > 250 > 400 > 150 > 60%
SIEMENS > 250 > 400 > 150 > 60%
SRF > 250 > 400 > 150 > 60%
STAR > 250 > 400 > 150 > 60%
BATAINDIA > 250 > 500 > 250 > 100%
BHARATFORG > 250 > 500 > 250 > 100%
GLENMARK > 250 > 500 > 250 > 100%
HDFCBANK > 250 > 500 > 250 > 100%
INFY > 250 > 500 > 250 > 100%
JUSTDIAL > 250 > 500 > 250 > 100%
RELIANCE > 250 > 500 > 250 > 100%
UBL > 250 > 500 > 250 > 100%
AMARAJABAT > 250 > 600 > 350 > 140%
ASIANPAINT > 250 > 600 > 350 > 140%
HCLTECH > 250 > 600 > 350 > 140%
HINDUNILVR > 250 > 600 > 350 > 140%
INDUSINDBK > 250 > 600 > 350 > 140%
JSWSTEEL > 250 > 600 > 350 > 140%
SRTRANSFIN > 250 > 600 > 350 > 140%
SUNPHARMA > 250 > 600 > 350 > 140%
YESBANK > 250 > 700 > 450 > 180%
KSCL > 250 > 750 > 500 > 200%
BPCL > 500 > 600 > 100 > 20%
HINDPETRO > 500 > 600 > 100 > 20%
AUROPHARMA > 500 > 700 > 200 > 40%
CEATLTD > 500 > 700 > 200 > 40%
KOTAKBANK > 500 > 700 > 200 > 40%
CENTURYTEX > 500 > 800 > 300 > 60%
CIPLA > 500 > 800 > 300 > 60%
IBULHSGFIN > 500 > 800 > 300 > 60%
AXISBANK > 500 > 1000 > 500 > 100%
CESC > 500 > 1000 > 500 > 100%
PIDILITIND > 500 > 1000 > 500 > 100%
SKSMICRO > 500 > 1000 > 500 > 100%
TECHM > 500 > 1000 > 500 > 100%
UPL > 500 > 1000 > 500 > 100%
WIPRO > 500 > 1000 > 500 > 100%
BIOCON > 500 > 1100 > 600 > 120%
CASTROLIND > 500 > 1100 > 600 > 120%
DHFL > 500 > 1100 > 600 > 120%
IGL > 500 > 1100 > 600 > 120%
LICHSGFIN > 500 > 1100 > 600 > 120%
TATACHEM > 500 > 1100 > 600 > 120%
TATACOMM > 500 > 1100 > 600 > 120%
OIL > 500 > 1200 > 700 > 140%
RELINFRA > 500 > 1300 > 800 > 160%
RELCAPITAL > 500 > 1500 > 1000 > 200%
TATAMOTORS > 500 > 1500 > 1000 > 200%
SUNTV > 500 > 2000 > 1500 > 300%
ADANIENT > 500 > 6000 > 5500 > 1100%
MOTHERSUMI > 750 > 1500 > 750 > 100%
BHARTIARTL > 1000 > 1200 > 200 > 20%
COALINDIA > 1000 > 1200 > 200 > 20%
IOC > 1000 > 1200 > 200 > 20%
GODREJIND > 1000 > 1300 > 300 > 30%
ZEEL > 1000 > 1300 > 300 > 30%
GAIL > 1000 > 1400 > 400 > 40%
TITAN > 1000 > 1500 > 500 > 50%
ADANIPORTS > 1000 > 1600 > 600 > 60%
ITC > 1000 > 1600 > 600 > 60%
VOLTAS > 1000 > 1600 > 600 > 60%
ARVIND > 1000 > 1700 > 700 > 70%
ICICIBANK > 1000 > 1700 > 700 > 70%
BHEL > 1000 > 2000 > 1000 > 100%
CANBK > 1000 > 2000 > 1000 > 100%
DABUR > 1000 > 2000 > 1000 > 100%
HAVELLS > 1000 > 2000 > 1000 > 100%
HEXAWARE > 1000 > 2000 > 1000 > 100%
M&MFIN > 1000 > 2000 > 1000 > 100%
ONGC > 1000 > 2000 > 1000 > 100%
PFC > 1000 > 2000 > 1000 > 100%
RECLTD > 1000 > 2000 > 1000 > 100%
SBIN > 1000 > 2000 > 1000 > 100%
TATASTEEL > 1000 > 2000 > 1000 > 100%
TVSMOTOR > 1000 > 2000 > 1000 > 100%
AMBUJACEM > 1000 > 2100 > 1100 > 110%
IRB > 1000 > 2100 > 1100 > 110%
TATAMTRDVR > 1000 > 2100 > 1100 > 110%
ENGINERSIN > 1000 > 2200 > 1200 > 120%
MCLEODRUSS > 1000 > 2200 > 1200 > 120%
BANKINDIA > 1000 > 3000 > 2000 > 200%
CAIRN > 1000 > 3000 > 2000 > 200%
ORIENTBANK > 1000 > 3000 > 2000 > 200%
APOLLOTYRE > 2000 > 3000 > 1000 > 50%
CROMPGREAV > 2000 > 3000 > 1000 > 50%
IDEA > 2000 > 3000 > 1000 > 50%
PETRONET > 2000 > 3000 > 1000 > 50%
UNIONBANK > 2000 > 3000 > 1000 > 50%
BANKBARODA > 2000 > 3100 > 1100 > 55%
HINDZINC > 2000 > 3200 > 1200 > 60%
IDFC > 2000 > 3300 > 1300 > 65%
Sensex up 161.19 points higher with 24 components in the green
BSE auto sub-index up 1 percent, Oil & gas adds nearly 1 percent, power shares rise 0.5 percent
ONGC and Vedanta add more than 5 percent, Bharti Airtel rises 4 percent, Bajaj Auto up nearly 4 percent - top Sensex gainers
Sensex provisionally closes 139.44 points higher with 19 components in the green
BSE auto sub-index up 1 percent, Oil & gas adds nearly 1 percent, power shares rise 0.5 percent
ONGC and Vedanta add more than 5 percent, Bharti Airtel rises 4 percent, Bajaj Auto up nearly 4 percent - top Sensex gainers
Sensex provisionally closes 139.44 points higher with 19 components in the green
CITI: See 50% upside to Aurobindo Pharma. Target 1120
Good News Continues, Supports Re-rating Thesis — gEntecavir is ARBN’s 15th
approval in FY16. If this pace continues, revenues could ramp up meaningfully over the next few years. We remain comfortable with our above-consensus estimates and maintain ARBN as our top pick.
gEntecavir — Another Meaningful Opportunity - We expect gEntecavir (US$285m market) to be a potentially chunky & sustainable product for Aurobindo. It is only the third generic company (after Teva & Par) to get approval for this product and we do not see too many additional competitors in the near future. This should keep price erosion & profitability at attractive levels. Assuming c25-30% price erosion and 15-20% MS, this could be another cUS$30-40m product (and a highly profitable one) for the company.
Other Interesting Approvals — The following other recent approvals hold good
potential in our view (mkt size, no. of players): gSuprax (US$80m, one), gZithromax (US$135m, two), gDilantin (US$125m, three). gComtan (US$59m, four).
Good News Continues, Supports Re-rating Thesis — gEntecavir is ARBN’s 15th
approval in FY16. If this pace continues, revenues could ramp up meaningfully over the next few years. We remain comfortable with our above-consensus estimates and maintain ARBN as our top pick.
gEntecavir — Another Meaningful Opportunity - We expect gEntecavir (US$285m market) to be a potentially chunky & sustainable product for Aurobindo. It is only the third generic company (after Teva & Par) to get approval for this product and we do not see too many additional competitors in the near future. This should keep price erosion & profitability at attractive levels. Assuming c25-30% price erosion and 15-20% MS, this could be another cUS$30-40m product (and a highly profitable one) for the company.
Other Interesting Approvals — The following other recent approvals hold good
potential in our view (mkt size, no. of players): gSuprax (US$80m, one), gZithromax (US$135m, two), gDilantin (US$125m, three). gComtan (US$59m, four).
Cnx Nifty (7948)
We can see a gap up opening today on note of sgx trading up 155 +Book some profits on opening .
If we see nifty showing a good move after opening and if the gap maintains till closing it will be a small good sign .
TREND IS STILL DOWN
ANY CLOSE AND MAINTAIN ABV 8530 WILL ONLY REVERSE THE TREND
MULTIPLE RESISTANCE 8160...8450
Intraday trades can be good opportunities
Intraday support 7920..7940 zone
Resistance 8050..60 zone
8160
8220..30 zone
We can see a gap up opening today on note of sgx trading up 155 +Book some profits on opening .
If we see nifty showing a good move after opening and if the gap maintains till closing it will be a small good sign .
TREND IS STILL DOWN
ANY CLOSE AND MAINTAIN ABV 8530 WILL ONLY REVERSE THE TREND
MULTIPLE RESISTANCE 8160...8450
Intraday trades can be good opportunities
Intraday support 7920..7940 zone
Resistance 8050..60 zone
8160
8220..30 zone
Broker's Corner
Sharekhan Fundamental Stock Idea – Britannia Industries Ltd
Target Price - Rs 3650 CMP – Rs2865
CITI ON MARUTI : Downgrades to Neutral from Buy; cuts target to ₹4,465 from ₹4,832
BofA ML ON ITC : Upgrades to Buy from Neutral, target of ₹393 from ₹360
CS ON BHARTI AIRTEL : Maintains Underperform, target of ₹285
CLSA ON AUTOS : Maruti, Tata, M&M remain top picks in Auto space
CLSA ON AUTOS : Auto OEM industry gross margin at a decade high
CLSA ON HAVELLS : Maintains Buy, target of ₹340
Goldman Sachs On Cements: Grasim Should Benefit From Capacity Additions Across All Verticals
Barclays On Tata Motors: Main Overweight Rating With Target Price Of Rs 560/Sh
Macquarie On Coal India: Maintain Outperform Rating With A Reduced Target Of Rs 429/Sh
Sharekhan Fundamental Stock Idea – Britannia Industries Ltd
Target Price - Rs 3650 CMP – Rs2865
CITI ON MARUTI : Downgrades to Neutral from Buy; cuts target to ₹4,465 from ₹4,832
BofA ML ON ITC : Upgrades to Buy from Neutral, target of ₹393 from ₹360
CS ON BHARTI AIRTEL : Maintains Underperform, target of ₹285
CLSA ON AUTOS : Maruti, Tata, M&M remain top picks in Auto space
CLSA ON AUTOS : Auto OEM industry gross margin at a decade high
CLSA ON HAVELLS : Maintains Buy, target of ₹340
Goldman Sachs On Cements: Grasim Should Benefit From Capacity Additions Across All Verticals
Barclays On Tata Motors: Main Overweight Rating With Target Price Of Rs 560/Sh
Macquarie On Coal India: Maintain Outperform Rating With A Reduced Target Of Rs 429/Sh
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