India looking at alternatives to Iranian oil to avoid pressure from US sanctions

India is preparing Plan B for its oil consumption after the United States administration under President Donald Trump declared zero tolerance against any country or entity that flouts its diktat to stop buying crude from Iran after November 4 and when the 180-day wind-down period ends.
Private sector refiners Reliance Industries and Nayara, owned by Russia’s Rosneft, have already been winding down Iranian imports.State Bank of India, the country’s largest bank, has said it is giving up transactions for Iranian oil. Next in line could be insurers, who may refuse cover to vessels carrying Iranian oil or units that process that oil.

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Use pullback rallies on Nifty towards 10,650-10,700 to initiate short positions

A much-awaited breakdown took place during the Wednesday’s trading session and Nifty decisively broke and closed below 10,700 level and 10,600 on Thursday.In line with our expectations, indices saw follow-up selling on expiry day and Nifty precisely corrected towards its previous daily swing low of 10,550.In Thursday’s trade, Nifty penetrated the lower band of Bollinger band which got squeezed due to its previous consolidation. After struggling near 60 levels, weekly RSI (14) has signaled negative crossover.

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Oil and rupee to decide market direction

It was another weak day for Indian markets thanks to weak global cues and weakness in rupee which hit a fresh all-time low of Rs 69.09/USD on Thursday. The Nifty5o slipped below its crucial support at 10,600 but the real carnage was seen in the small and midcap space on Thursday. The index finally closed 82 points lower at 10,589. The Nifty50 slipped below its crucial 50-EMA but closed above its 100-EMA placed around 10,571. The Nifty bounced back from its crucial support placed around 10550 .However, experts feel that the correction may not be over yet as long as 10666 remain intact.The index is likely to drift lower towards 10,417 and subsequently towards 10,325 i.e. 61.8% retracement level of its previous rise once it breaks below 10,550. On the way up, 10,632 – 10,674 will be resistance zone in the near-term. Any rise towards the resistance zone shall be considered as selling opportunity, suggest experts.They maintain our bearish outlook on the index for the short term with a reversal placed at 10930.Looking at the institutional activity: FPIs sold Rs951 crore from equity markets while domestic institutional; investors bought Rs442 crore shares in Indian equity market, as per provisional data.

 

 

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IT stocks rally smartly as rupee hits 19-month low of 68.53 to the dollar

Technology stocks rallied smartly on Wednesday, with the IT index gaining over a percent after the rupee touched fresh 19-month low of 68.54 against the dollar.Tech Mahindra was the biggest gainer among IT stocks, rising more than 2 percent while KPIT Technologies, TCS and HCL Technologies rallied over a percent. Infosys was up 0.8 percent.These software companies earned major revenues through exports, so the weaker rupee is always favourable for them.The Indian currency plunged as much as 30 paise in the morning on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows.

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Nifty consolidates, Midcap continues to underperform; Brent crude at $77.50/bbl

he S&P BSE Sensex might be down by about 3 percent from its all-time high while for the Nifty it is nearly 5 percent from its lifetime high of 11,171 which does not mean that we are in a bear market but a more matured phase of a bull market, Bharat Iyer, MD, JP Morgan highlighted in an interview with JPMorgan.“When we started the year with expectations of low returns and high volatility. The Nifty5o in a way has risen from 10,000 in the beginning of the year to 10,600 now, a return of 6-7 percent. The will hit 11,300 through course of the year amid volatility,” said Iyer. The volatility is likely to continue and midcaps are vulnerable at current levels which are likely to stay in that state for some more time thanks to excess valuations, rising cost of capital and global tensions.

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Nifty likely to open flat; 3 stocks which could give up to 14% return

The Nifty50 is likely to open flat on Thursday tracking muted trend seen in other Asian markets. The index closed 97 points lower at 10,671 on Wednesday.Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 30 points or 0.28 percent. Nifty futures were trading around 10,645-level on the Singaporean Exchange.US stocks fell on Wednesday on renewed uncertainty regarding the US stance on Chinese investments in American technology companies, reversing gains earlier in the session, said a Reuters report.

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PNB Housing Finance gains over 1% after it announced fundraising plan of Rs 10,000 crore

Shares of PNB Housing Finance gained over a percent in the morning trade as investors digested its fundraising plans.The stock has touched an intraday high of Rs 1,227.35 and an intraday low of Rs 1,215.00.The lender on Tuesday said that it plans to raise up to Rs 10,000 crore by issuing bonds through public issue. The board of directors of the company in a meeting approved the proposal of raising of funds by way of public issue of secured and /or unsecured non-convertible debentures for an amount up to Rs 10,000 crore, PNB Housing Finance said in a regulatory filing.The company said the money will be raised in one or more tranches.

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IndusInd Bank hits record high after acquisition of IL&FS Securities Services

IndusInd Bank share price hit a fresh record high of Rs 1,995 in the opening after the private sector lender decided to acquired infra lender IL&FS' brokerage business. However, the stock price immediately wiped out those opening gains to trade 0.33 percent lower at Rs 1,977 on the BSE, at 09:30 hours IST.

The city-based lender, which has recently got the final nod for a merger with microlender BFIL, has received the Reserve Bank go-ahead for acquiring IL&FS Securities Services, it said in a statement.

"The acquisition will help us scale up the present capital market business in the bank and bring new specialised products, hitherto not offered by us, to our clients," said Romesh Sobti, managing director and chief executive officer, IndusInd Bank.

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Idea Cellular slips 7% due to a likely delay in Vodafone merger

The stock slipped nearly 7% to Rs 56 on the BSE on concerns of likely delay in Vodafone merger as the telecom department is looking to raise a fresh demand of around Rs 47 billion. Shares of Idea Cellular have slipped nearly 7% to Rs 56 per share on the BSE on concerns of a likely delay in Vodafone merger as the telecom department is looking to raise a fresh demand of around Rs 47 billion.

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Tata Motors falls 5% on concerns of auto tariff fears in US

The stock dipped 5% to Rs 292, trading close to its 52-week low of Rs 582 touched on May 31, 2018 on the BSE in intra-day trade. Tata Motors dipped 5% to Rs 292 on the BSE in intra-day trade amid concerns of auto tariff threat by US on European Cars. The stock trading close to its 52-week low of Rs 582 touched on May 31, 2018 on the BSE in intra-day trade.

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BSE PSU index hits 18-month low; Bank of Baroda, NTPC touches 52-week low

Thus far in the calendar year 2018, the S&P BSE PSU index has slipped 18%, against 4.6% rise in Sensex. Shares of public sector undertaking (PSU) organisations were under pressure with the S&P BSE PSU index hitting its 18-month low on the BSE on Monday, after a fall in oil & gas and banking stocks. At 12:00 PM: the S&P BSE PSU index was down 1% at 7,522, as compared to 0.17% decline in the S&P BSE Sensex. The PSU index hit an intra-day low of 7,506, its lowest level since December 27, 2016.

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Market cap of Bajaj Finserv crosses Rs 1 trillion mark; stock hits new high

Thus far in the current calendar year 2018, Bajaj Finserv has outperformed the market by surging 20% as compared to 4.5% rise in the S&P BSE Sensex. Shares of Bajaj Finserv entered the elite club of Rs 1 trillion market capitalisation (market-cap) after the stock price of the company hit a new high on the National Stock Exchange (NSE) in intra-day trade on Monday. The market-cap of the company touched Rs 1,002 billion (Rs 1-trillion mark) on the NSE. In the BSE, the stock hit a new high of Rs 6,290 n intra-day trade today. At 11:40 am; Bajaj Finserv was trading 1.4% higher at Rs 6,270, having market cap of Rs 997.72 billion, the BSE data shows.

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Sun Pharma nears 52-week high as stock surges 32% in five weeks

The stock was trading 2% higher at Rs 587 on the BSE in otherwise subdued market, trading nears to 52-week high of Rs 609 touched on February 12, 2018. Shares of Sun Pharmaceutical Industries were trading 2% higher at Rs 587 per share on the BSE in an otherwise subdued market, nearing their 52-week high of Rs 609 per share touched on February 12, 2018. The pharmaceutical stock which is quoting at its highest level since February 15, 2018, has rallied 32% in past five weeks as compared to 3% rise in the S&P BSE Sensex.

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Bajaj Finance surpasses Axis Bank in market-cap ranking

Bajaj Finance, which hit a new high of Rs 2,330, up 3% on the BSE in late noon deal on Friday, has surpasses private sector lender Axis Bank in market capitalisation (market-cap) ranking. At 02:37 pm; with market-cap of Rs 1,345.85 billion, Bajaj Finance, the non-banking finance company, overtook the Axis Bank, which has market-cap of Rs 1,340.18 billion, the BSE data shows. Axis Bank was trading 2% higher at Rs 522, as compared to 0.37% rise in the S&P BSE Sensex..

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SRF hits four-month low; stock falls 25% post Q4 results

The stock dipped 5% to Rs 1,690 on the BSE, trading at its lowest level since February 6, 2018. Shares of SRF hit a four month low of Rs 1,690, down 5% on the BSE, falling 11% thus far in the current week. The stock of textiles Company was trading at its lowest level since February 6, 2018. Post January-March quarter (Q4FY18) results, SRF has fallen 25% from Rs 2,258 on May 16, as compared to a marginal 0.12% rise in the S&P BSE Sensex.

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PNB Housing Finance hits 52-week low of Rs 1,051

The stock hit 52-week low of Rs 1,051, falling 26% since May 2, as compared to 1% rise in the S&P BSE Sensex. PNB Housing Finance hit its 52-week low of Rs 1,051, down 5% on the BSE. Shares of the housing finance arm of Punjab National Bank (PNB) are trading at its lowest level since March 15, 2017. Since May 2, 2018, PNB Housing Finance has underperformed the market by falling 26% as compared to 1% rise in the S&P BSE Sensex

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SRF hits four-month low; stock falls 25% post Q4 results

The stock dipped 5% to Rs 1,690 on the BSE, trading at its lowest level since February 6, 2018. Shares of SRF hit a four month low of Rs 1,690, down 5% on the BSE, falling 11% thus far in the current week. The stock of textiles Company was trading at its lowest level since February 6, 2018. Post January-March quarter (Q4FY18) results, SRF has fallen 25% from Rs 2,258 on May 16, as compared to a marginal 0.12% rise in the S&P BSE Sensex.

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Manpasand Beverages snaps 4-day decline; board to consider report from new auditors

The stock snapped its four-day decline and rallied the company informed that it will consider and approve financial results by newly appointed auditors on June 27. Shares of Manpasand Beverages gained 5% on the BSE. The stock snapped its four-day decline and rallied. The company informed that it will consider and approve financial results by newly appointed auditors on June 27. The meeting of board of directors of the company is scheduled to be held on June 27, to consider and approve audited financial results along with audited report for the fourth quarter and year ended on March 31, 2018, the company said in the filing.

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Cement companies under pressure; UltraTech Cement, Ambuja hit 52-week low

India Cements, Sanghi Industries, Birla Corporation, Andhra Cements, Orient Cement, NCL Industries and Mangalam Cement were down 30% to 40% thus far in 2018. Shares of cement companies were under pressure with most of the frontline stocks hitting 52-week lows on concerns of a delay in the pickup of demand trends, lower-than-expected pricing realizations and higher-than-expected increases in costs. UltraTech Cement, Ambuja Cement, ACC, JK Cements, Shree Cement, India Cements and Panyam Cement have hit their respective 52-week lows on the BSE in intra-day trade on Thursday.

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कहां होगी बैंक निफ्टी की एक्सपायरी!

आज बैंक निफ्टी के वीकली वायदा सौदों की एक्सपायरी है। बैंक निफ्टी की वीकली एक्सपायरी पर सीएनबीसी-आवाज़ ने ब्रोकर्स के बीच पोल कराया है जिस पर 0 फीसदी ब्रोकर्स की राय है कि इस हफ्ते बैंक निफ्टी की एक्सपायरी 26500 के स्तर के नीचे होगी। वहीं 37 फीसदी ब्रोकर्स मानते हैं कि बैंक निफ्टी की एक्सपायरी 26500-26600 के बीच हो सकती है। इस पोल में शामिल 44 फीसदी ब्रोकर्स की राय है कि इस हफ्ते बैंक निफ्टी की एक्सपायरी 26600-26700 के बीच हो सकती है। वहीं, 19 फीसदी बोकर्स मानते हैं कि इस हफ्ते बैंक निफ्टी की एक्सपायरी 26700 के स्तर के ऊपर होगी ब्रोकर्स के मुताबिक बैंक निफ्टी के एक्सपायरी के दिन आज एचडीएफसी बैंक, कोटक महिंद्रा बैंक, एस बैंक, इंडसइंड बैंक और एसबीआई में बढ़त देखने को मिल सकती है।

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Bank of Baroda hits over two-year low; falls 10% in one week

The stock is down 2% at Rs 123 on the BSE was trading at its lowest level since February 15, 2016. Shares of Bank of Baroda (BOB) hit an over two-year low of Rs 123 per share, down 2%, extending their 8% decline on the BSE in the past five days. The stock of state-owned bank was trading at its lowest level since February 2016. The Central Bureau of Investigation (CBI) on June 12, 2018 said that it had registered four more cases against eight persons in connection with the Srijan scam involving a Bhagalpur NGO that allegedly pilfered funds meant for government welfare schemes.

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Bank of Maharashtra hits record low as CMD gets arrested in DSK Group scam

The stock hit a record low of Rs 12.50, down 7% after the EOW arrested Ravindra P. Marathe, CMD, in a case of Rs 30 billion fraudulent loans extended to Pune's DSK Group. Shares of Bank of Maharashtra hit a record low of Rs 12.50 per share, falling 7% on the BSE in early morning trade after a media report suggested that the Economic Offences Wing (EOW) arrested Ravindra P. Marathe, the Chairman and Managing Director (CMD) of the bank, in a case of Rs 30 billion fraudulent loans extended to Pune's DSK Group.

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Wheels India rallies 30% in two days as company mulls bonus issue plan

The stock hit a new high of Rs 2,690, up 11%, surging 30% in past two trading sessions after the company said its board will consider a bonus issue proposal in their meeting on Friday, June 22, 2018. Shares of Wheels India hit a new high of Rs 2,690 per share, rising 11% from its previous close. The stock has surged 30% in past two trading sessions after the company announced that its board will consider a bonus issue proposal in their forthcoming board meeting on Friday, June 22, 2018.

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Mahindra Lifespace, Mahindra Logistics, Mahindra CIE hit 52-week high

Shares of Mahindra Group were in focus with three companies - Mahindra Lifespace Developers, Mahindra Logistics, Mahindra CIE Automotive hit their respective 52-week highs on the BSE in intra-day trade on Wednesday. Mahindra & Mahindra (M&M), Mahindra Holiday Resorts, EPC Industries, Mahindra & Mahindra Financial Services from the group were trading higher in the range of 2% to 6%. On comparison, the S&P BSE Sensex was up 0.49% or 174 points at 35,456 at 11:33 am.

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This stock doubled your money in 2018

Thus far in the calendar year 2018, the stock of this pharmaceutical company has zoomed 107% from Rs 1,289, as compared to 4% rise in the S&P BSE Sensex. Shares of Merck continued their northward movement, hitting new high of Rs 2,666 per share, up 8% on the BSE in early morning trade. Thus far in the calendar year 2018, the stock of the pharmaceutical company has zoomed 107% from Rs 1,289, as compared to 4% rise in the S&P BSE Sensex.

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Cipla gains 3% post USFDA approval for its generic HIV drug

The stock up 3% at Rs 622 on the BSE in early morning trade and is 6.6% away from its 52-week high of Rs 663 touched on November 7, 2017. Shares of Cipla were up 3% at Rs 622 per share on the BSE in early morning trade after the company said that it has received approval from the US Food and Drug Administration (USFDA) to market Efavirenz tablets, used to treat HIV-1 infections in adults. The stock of pharmaceutical company is 6.6% away from its 52-week high of Rs 663 touched on November 7, 2017 on the BSE..

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UltraTech Cement, NTPC among 19 stocks in BSE500 that hit their 52-week low

India Cements, Shree Cement, CG Power, Cummins India, Inox Wind, JK Lakshmi Cement, Kirloskar Oil Engines and MRPL were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows. Shares of UltraTech Cement, NTPC, Bharti Infrastructure, Tata Power Company, Vedanta, India Cements and Shree Cement were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows on the BSE.

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Pharma stocks gain led by Glenmark, DRL; HPCL, BPCL down 2%, ICICI most active

The breadth of the market favoured declines, with 536 stocks advancing, 1003 declining and 503 remaining unchanged. On BSE, 680 stocks advanced, 1057 declined and 76 remained unchanged. The broader indices are trading on a negative note this Tuesday morning with the Nifty down 40 points at 10,759 and the Sensex is trading lower by 111 points at 35,437. Nifty pharma outperforms led by Glenmark Pharma, Dr Reddy's Labs and Aurobindo Pharma. Lupin and Sun Pharma were the other gainers. Nifty midcap was trading lower but individual stocks are buzzing with Bata India and Mcleod Russel India among others. Oil & gas stocks are also trading in the red in the morning trade with BPCL, HPCL and Indian Oil Corporation being the top losers, shedding 2 percent each.

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Indivior's shares rise after US court blocks Dr Reddy's generic drug

Indivior stuck to its 2018 revenue guidance on Friday but said it would revisit the forecast if Dr Reddy's launches the cheaper drug. Shares in British drugmaker Indivior rose on Monday after a US Court granted a temporary restraining order blocking Dr Reddy's Laboratories from launching a generic version of Indivior's best-selling opioid addiction treatment. Indivior shares rose more than 6 per cent in early trade, after falling by nearly a third on Friday after Dr Reddy's and US-based Mylan NV received FDA approval for a generic version of Suboxone Film, which generates 80 per cent of Indivior's revenue.

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Jubilant FoodWorks hits new high ahead of 1:1 bonus

In past one month, Jubilant FoodWorks has outperformed the market by gaining 12% as compared to 2% rise in the S&P BSE Sensex. Jubilant FoodWorks hit a new high of Rs 2,796, up 1%, extending its past two days 3% gain on the BSE, ahead of record date for 1:1 bonus issue. The stock will turn ex-bonus on Thursday, June 21, 2018. The Capital Issue Committee has fixed Saturday, June 23, 2018 as the record date, for the purpose of determining the list of equity shareholders who will be entitled for issue and allotment of bonus equity shares in the proportion of 1 equity share of Rs 10 each for every 1 equity share of Rs 10 each of the Company.

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Adani Green Energy gains 5% on debut, trades at Rs 29 on BSE

Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE. Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE on first day of its listing. The stock recovered 9% from its intra-day low of Rs 27, after opening at Rs 28 on the BSE. On the National Stock Exchange (NSE), the stock trading at Rs 31, after opening at Rs 30. The stock hit a high of Rs 31.50 and a low of Rs 28.50 so far. Till 10:58 am; a combined 4.74 million shares changed hands and there were pending buy orders for around 352,328 shares on the BSE and NSE.

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Kanoria Chemicals gains 4% after announcing new plant

The company is setting up a formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta. Chemical intermediates manufacturer Kanoria Chemicals gained 4% to Rs71 in early trade on BSE. This is attributed to the company setting up a formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta in Andhra Pradesh’s Nellore district. As per a BSE filing, this became possible after it received environmental clearance from the Ministry of Environment, Forests & Climate Change. Apart from chemicals, Kanoria Chemicals has diversified business interests, including automotive and industrial electronics, renewable energy and textiles. It has two chemicals manufacturing facilities, one at Ankleshwar in Gujarat, which manufactures alcohol-based intermediates; the second is at Visakhapatnam in Andhra Pradesh, which manufactures formaldehyde, hexamine and resins. Kanoria Chemicals and Industries is currently trading at Rs71.15 up 4%, from its previous close of Rs68.55 on the BSE. The scrip opened at Rs71 and touched a high and low of Rs73.35 and Rs70.35, respectively.

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TCS, Infosys push BSE IT index to new high; IT index rallies 24% in CY18

Thus far in the current calendar year BSE IT index has outperformed the market by surging 24% as compared to 4.6% rise in the Sensex. Shares of information technology (IT) companies were in focus on Monday with the S&P BSE IT index hitting record high. The raly comes on the back of a surge in prices of sector majors - Tata Consultancy Services (TCS) and Infosys - that hit a new high on the BSE in intra-day trade.

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Nifty Pharma index set to post biggest weekly rally in 15 years

Shares of pharmaceutical companies are on a roll with the Nifty Pharma index all set to post its biggest weekly gain in 15 years following the positive news flow from the corporate levels with regard to regulatory issues. the Nifty Pharma index -- largest gainer among sectoral indices, was up 2.2% at 9,310, surging 8.2% thus far in current week. Earlier, in week ended August 31, 2003, the index had recorded 9.1% gain.

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