Friday, 27 April 2018

IDEAL STOCK Suggest 4 Ways to Approach the STOCK

AxisBank Q4 Result Disappoints | IDEAL STOCK 


While There Was No Doubt Among Experts About What Kind Of Numbers The Lender Had Reported, Their Approach Toward The Stock Is Quite Different From One Another's.

Shares Of Axis Bank Are Likely To Open Lower On Friday Morning As Investors Will Be Wary Of The Disastrous Set Of Results It Delivered For The March Quarter.


Multiple Experts IDEAL STOCK Spoke To Believe That The Stock Could See A Lower Opening. However, That Does Not Necessarily Mean It Is An Exit Point Or A Point Of Entry Either.
The Stock Closed 1 Percent Lower At Rs 494.55 On BSE Ahead Of The Results Announcement Post Market Hours On Thursday.
While There Was No Doubt Among Experts About What Kind Of Numbers The Lender Had Reported, Their Approach Toward The Stock Is Quite Different From One Another's. Here Are Four Approaches One Could Have Toward The Stock.
Cheapest Corporate-Focused Lender
Sanjiv Bhasin Of IIFL Highlighted How, After The Correction And The Likely Fall Ahead, Axis Bank Could Become The Cheapest Corporate Bank In Terms Of Valuation.
“Axis Bank Has Managed To Deliver A Kitchen-Sink Quarter Performance And Bring Out Everything (To The Table). These Were Largely Known And Hidden…The Way It Has Happened Is Disappointing. The Stock Has Corrected About 10-12 Percent And Has Been An Underperformer. We Will Have To Wait For A Change Of Regime Now,” Bhasin, Who Is EVP—Markets And Corporate Affairs At IIFL, Told IDEAL STOCK.
Speaking On The Outlook For The Stock One Year From Now, Bhasin Said It Is Likely To Be In A Better Position. Classification Of Npas Has Been Standardized By The Reserve Bank Of India, He Said, Adding That The Road Forward Looks Smoother.
“On A Price To Book Basis, It Is The Cheapest Corporate Bank As Well,” He Said.
Wait And Watch Approach
Meanwhile, Investors Could Also Adopt A Wait And Watch Approach Instead Of Reacting In A Knee-Jerk Manner, Believes AK Prabhakar Of IDBI Capital.
“Before Trying To Catch A Falling Knife, Investors Should First Wait For A Rejig In Management. The Q4 Results Were Full Of Write Offs. Hence, Wait Before You Start Buying Even Though It May Open Lower On Friday,” Said Prabhakar, Who Is Head Of Research At IDBI Capital.
Look Outside! There’s More...
Having Said That, One Could Also Take A Look At Peers In The Corporate-Focused Segment, Experts Said.
“…The Only Corporate Focused Private Bank We Hold Is Yes Bank, Which Has Proved That Unarguably It Is The Best Managed Corporate Focused Bank In Terms Of Its Scorching Pace Of Growth In Assets And Maintaining Pristine Asset Quality In The Midst Of Spike In Soured Loans Among Its Corporate Focused Rivals,” Ajay Bodke, CEO And Chief Portfolio Manager (PMS), Prabhudas Lilladher, Told IDEALSTOCK.
A Word Of Caution
Lastly, Analysts Also Recommend Being Cautious About The Stock Before You Rush To Buy It. Sanjeev Jain Of Ashika Stock Broking Said That While The Results Did Disappoint, The Worst May Not Be Past.
“Wait Out Before You Plan To Buy The Stock Because We Don't Know How Much Pain Is Still Left In Terms Of Asset Quality. I Think Investors Should Avoid The Stock Until The Picture Is Clearer. It Also Reported Tax Write Back Of Rs 1,300 Crore, Without Which The Net Loss Would Have Been Wider," Said Jain, Who Is Associate Vice-President At Ashika Stock Broking.
Case File
The Bank On Thursday Reported A Loss Of Rs 2,188. 74 Crore For January-March, As Against A Net Profit Of Rs 1,225 Crore In The Same Quarter Last Year.
This Is The First Ever Quarterly Loss Posted By Axis Bank Since It Listed Over Two Decades Ago.
Slippages For The Quarter Nearly Quadrupled Year-On-Year To Rs 16,536 Crore, With Nearly Rs 13,900 Crore Of New Slippages Coming From The Corporate Sector. So More Than 80 Percent Of The Slippages Were From Companies Rated 'BB' And Below.
Analysts Polled By Reuters Had Estimated A Decline Of 56 Percent In Net Profit To Rs 534 Crore, And 4 Percent Rise In Net Interest Income To Rs 4,909 Crore.

Thursday, 26 April 2018

Nifty open flat amid mixed Asian cues : IDEAL STOCK

Benchmark indices were flat in pre-opening trade, following mixed trend Asian stocks.


9:18 am Results Date: Visaka Industries informed exchange that the meeting of the board of directors is scheduled to be held on May 07 to consider and approve the audited financial results of the company for the fourth quarter / year ended March 31, 2018 and consider recommending dividend, if any for the financial year ended March 31, 2018.

9:15 am Market Update: Benchmark indices opened flat on Thursday, the expiry day for April derivative contracts.

The 30-share BSE Sensex was up 46.40 points at 34,547.67 and the 50-share NSE Nifty rose 5.40 points to 10,575.90.

Yes Bank gained half a percent and Axis Bank was down 0.75 percent ahead of earnings later in the day.

NIIT, M&M Financial, DHFL, Mindtree, Parag Milk Foods, Biocon, Rallis India and Tata Elxsi gained up to 3 percent.

ICICI Lombard, Jindal Stainless, Reliance Naval and PC Jeweller slipped up to 9 percent.

9:05 am Technical Recommendations: We spoke to ICICIdirect and here’s what they have to recommend:




Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

9:03 am Stocks in news: Wipro: The Board has approved amalgamation of its two subsidiaries with the company. The company's Q4 profit was down 7 percent QoQ; sees Q1 IT services revenue at USD 2,015-2,065 million

Emami: The Board will meet on May 3 to consider results and approve dividend as well

Uniply Industries approved issue of 45.14 lakh equity shares at Rs 400.85 per shares on preferential basis to non-promoter and allotment of 96.28 lakh convertible share warrants at Rs 400.85 per warrant on preferential basis to promoter and non-promoters.

Bharti Airtel: The firm has approved sale/transfer of submarine cables to unit Network I2I

UltraTech Cement: Company's Q4 profit sheds 29%; sales volume grows 31%

Syngene International: Company's Q4 net rises 8 percent to Rs 84 crore

Reliance Capital issued NCD worth Rs 30 crore

Indiabulls Real Estate: Company's Q4 profit surges to Rs 1,648 cr

Sterlite Tech: Company's Q4 profit jumps 77 percent to Rs 112 cr

Zydus Cadila: Company gets USFDA nod to market 2 drugs

9:01 am Market Check: Benchmark indices were flat in pre-opening trade, following mixed trend Asian stocks.

The 30-share BSE Sensex was up 74.55 points at 34,575.82 and the 50-share NSE Nifty rose 8.30 points to 10,578.80.

Wall Street limped into positive territory on Wednesday on optimism over a spate of upbeat earnings that was nearly offset by jitters over rising US bond yields and corporate costs, said a Reuters report.

Asian stocks edged up on Thursday as robust corporate earnings helped Wall Street quell concerns over a surge in US bond yields, while the dollar hovered near three-month highs against a basket of currencies, it said.

Oil prices rose over concerns of supply disruptions in Venezuela and the Middle East as well as by strong demand. Brent crude oil futures were at 74.44 per barrel, up 44 cents, or 0.6 percent.

Wednesday, 25 April 2018

Nifty open lower on global weakness; Bharti Airtel jumps 3%

9:30 am Results Reaction: Raymond share price rallied 3 percent after reporting 61.7 percent YoY growth in net profit at Rs 54.5 crore and 10.6 percent growth in revenue at Rs 1,629.8 crore for the quarter ended March 2018.


Operating profit increased 33.5 percent to Rs 150.6 cror and margin expanded by 160 basis points to 9.2 percent YoY.

9:22 am Buzzing: Fortis Healthcare gained a percent after KKR-backed Radiant Life Care made a revised bid for the company with a binding offer to acquire its Mulund hospital for an enterprise value of Rs 1,200 crore.

This is the second revised offer received by Fortis after Malaysian major IHH Healthcare made a binding offer to infuse Rs 650 crore immediately in the Indian firm as part of an overall proposal to invest Rs 4,000 crore.
The company has received a binding offer from Radiant Life Care, FHL said in a regulatory filing.
9:18 am Earnings Reaction: Bharti Airtel share price gained more than 3 percent after reporting profit against expectations of loss in the quarter ended March 2018.
Net profit fell 72.8 percent sequentially to Rs 83 crore and revenue declined 3.4 percent to Rs 19,634 crore in Q4FY18 while operating income slipped 7.3 percent to Rs 7,034 crore and margin contracted 150 basis points to 35.8 percent QoQ.
9:15 am Market Check: Benchmark indices opened lower, tracking negative trend in global stocks.
The 30-share BSE Sensex was down 52.82 points at 34,563.82 and the 50-share NSE Nifty fell 21.10 points to 10,593.30.
Bharti Airtel, Bharti Infratel, HPCL, BPCL and Reliance Industries were early gainers.
Hindalco, Cipla and HCL Technologies were under pressure.
ICICI Prudential, Raymond, Idea Cellular, Advanced Enzyme, Bajaj Corp, MMTC, Parag Milk Foods, Coffee Day, Jubilant Life, Avanti Feeds, Granule India, Gati, Jaiprakash Associates, Indiabulls Ventures and Trent gained up to 5 percent.
Uniply Industries gained 2 percent after block deal of 10 lakh shares.
Balrampur Chini and Reliance Naval were under pressure.
9:09 am Pre-opening Settlement: The market settled lower in pre-opening session, with the Sensex falling 23.47 points to 34,593.17 and the Nifty down 2 points to 10,612.40.
9:05 am Technical Recommendations: We spoke to SMC Global Securities and here’s what they have to recommend:
Disclaimer: The views and investment tips expressed by investment experts on idealstock.in are their own and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.
9:03 am Stocks in news: Hero MotoCorp: Company hikes two-wheeler prices by up to Rs 625 to offset rising input cost
Strides Shasun: The company will Divest Its Stake In Stride Chemicals For Rs 131 crore.
State Bank of India: The bank will issue & encash electoral bonds through its 11 authorised branches from May 1-10.
Fortis Healthcare: IHH has submitted binding bids for Fortis and has proposed to inject Rs 650 crore at Rs 160 per share.
Blue Dart: The company’s Board will meet on May 08, 2018 to consider the financial results and recommend a dividend.
Bharti Infratel: Re-appoints Akhil Kumar Gupta as Exec chairman
Raymond: Company approves Rs 300 crore development plan for 20 acres land at Thane
DCM Shriram: Board approves expansion of PVC capacity for Rs 32 crore
Zensar Tech: Board approves stock split of equity shares in the ratio 5:1
9:01 am Market Check: Benchmark indices were higher in pre-opening trade despite global weakness, with the Sensex rising 112.63 points to 34,729.27 and the Nifty climbing 1.90 points to 10,616.30.
A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark, said a Reuters report.
Asian shares were under pressure on Wednesday, with a rise in US bond yields above the 3 percent threshold and warnings from bellwether U.S. companies of higher costs driving fears that corporate earnings growth may peak soon, it said.
Oil prices slipped on concerns that the United States might reinstate sanctions against Iran faded somewhat, reducing worries about the future of Iranian exports. Brent slid 85 cents, or 1.1 percent, to settle at USD 73.86 a barrel, said a report.

Tuesday, 24 April 2018

What changed your markets while you were sleeping

Even as US stocks settled flat in overnight trade, a ‘long-legged Doji’ formation on Nifty’s daily charts ahead of expiry of futures and options series contracts hints at a likely rise in market volatility on Tuesday.


Singapore trading sets stage for negative start
Nifty futures on the Singapore Stock Exchange were trading 20.50 points, or 0.19 per cent, lower at 10,601.50, indicating a negative start for the Nifty50.
Nifty50 forms 'Long Legged Doji'
Nifty50 on Monday kissed the 10,600 mark but failed to close above the psychological level. The index formed a 'long-legged Doji' candle on the daily chart, suggesting struggle for upper hand between the bulls and bears ahead in the F&O expiry week. “For the last five consecutive sessions, the index is consolidating within 10,600-10,500 levels. A breakout on either side range will indicate further direction,” Rajesh Palviya, Head Technical & Derivatives Analyst at Axis Securities said. < ..
Market-wide rollover of F&O positions stood at 21 per cent till Monday, which was in line with the average rollovers seen by this time in the last three F&O series. Nifty futures rollover stood at 18 per cent which were lower than the average rollovers of 22 per cent in the last three series.
F&O data suggests further upside
Options data suggests an immediate trading range in between 10,480 and 10,700 said Chandan Taparia of Motilal OswalNSE -0.08 % Securities. “Small Put writing has been observed at 10,350 and 10,500 strikes while Call unwinding is seen at all the immediate strike prices, which is providing room for further up move," the expert said.
Q4 results today
Bharti Airtel, IDFC Bank, ICICI Prudential Life, Oberoi Realty, Persistent, RaymondNSE -0.26 %, TRF, DCM Shriram and GIC Housing Finance will be among companies that will report their quarterly earnings on Tuesday.
Asian stocks mixed
Asian stocks were trading mixed on Tuesday, as a deluge of US government debt this week and the specter of inflation and a higher fiscal deficit drove U.S. borrowing costs near four-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent. Japan's Nikkei rose 0.7 per cent thanks to fall in the yen, Reuters reported.
US stocks end flat
The Dow Jones Industrial Average index fell 14.25 points, or 0.06 per cent, to 24,448.69. The S&P500 index gained 0.15 points, or 0.01 per cent, to 2,670.29 and the Nasdaq Composite index dropped 17.53 points, or 0.25 per cent, to 7,128.60.
NSE announces 46 stocks for physical settlement
The National Stock Exchange of India on Monday announced a list of 46 stocks which are liable to be physically settled. These include Adani Power, Can Fin Homes, IDBI Bank, Jaiprakash Associates, Godrej Industries, Just Dial, Oil India and PVR. Other stocks include United Breweries, Reliance Communications, IFCI and Allahabad Bank. NSE said all new expiry month contracts issued in these securities after expiry of the April contracts, i.e. July expiry onwards, will be physically settled.
DIIs buy Rs 387 cr worth of equities
Foreign portfolio investors (FPIs) sold Rs 259 crore worth of domestic stocks on Monday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 387 crore, data suggested.

Monday, 23 April 2018

Top 10 money-making ideas which could give up to 22% return in April expiry week

Here is a list of top 10 stock ideas from different experts which can offer up to 22% return in the next 30 days.

 


“There are a few technical pieces of evidence that justify 10,600-10,640 levels. First, post the Union Budget, the Nifty corrected from 10,638 and 10,631 on two occasions, which will now act as a strong hurdle,” Sameet Chavan, Chief Analyst, Technicals and Derivatives at Angel Broking, said.

This coincides with its 50 percent Fibonacci retracement of the recent fall from 11,171.55 to 9,951.90. Also, the upward sloping trendline connecting previous bottoms (9,687.55 and 10,276.30) is now converging around the same area.

Chavan sees the index heading to 10,750 levels if 10,600 is breached. “As a chartist, traders are respecting this zone of 10,600–10,640. In case of violation of this hurdle in the upward direction on a sustainable basis, we may see the relief rally getting extended 10,720–10,750. But it certainly does not change the broader outlook, as we still expect the possibility of selling pressure resuming at higher levels.”

He advises traders to stay light for a while, focusing on key levels and adopting a stock-centric approach for the next few days.

As far as support levels are concerned, 10,495 followed by 10,355 would now be crucial.


This counter is in a downtrend and remains an underperformer. It is moving in a well-defined down sloping channel since the highs of Rs 598 per share registered in September 2016. It again approached the demand line of the said channel, which attracted buying support and propped up prices from the lows of Rs 330 per share a couple of weeks back.
After retracing major part of the said pullback rally from Rs 325-372 levels, this counter appears to have formed a base around Rs 332 per share and looks ready for a take-off. Hence, positional traders should go long for an initial target of Rs 372 per share with a stop of Rs 327 per share.


After the recent breakout above its 200 daily moving average, this counter slipped into consolidation phase and appears to have resumed its upswing from the said congestion zone of Rs 1,360–1,290 levels. In such a scenario it should head towards its logical target of Rs 1,469 per share. Hence, positional trade can create longs for the said target with a stop of Rs 1,297 per share.

This counter appears to have resumed its upmove after trading in the recent congestion zone of Rs 350–335. After sustaining above Rs 340 levels, it can be expected to head towards its logical targets of Rs 372 per share. The stop suggested for the trade is Rs 332 per share.

Wockhardt: Buy| Target: Rs 863| Stop loss: Rs 748| Return: 8%

Post the correction in January, the stock slipped into consolidation mode. After three months, the stock burst through this congestion zone and confirmed a neckline breakout from the inverse head and shoulder pattern. Volumes during this price action were almost thrice its average daily volumes, indicating strong buying interest after the base building process. We expect the stock to extend this rally and eventually climb towards our near-term target of Rs.863 per share. Traders are advised to follow a strict stop loss at Rs748 per share.




Since the last couple of weeks, this stock has been consolidating in a small range. On Friday, we witnessed a surge in the last couple of hours of trade. The surge was quite abrupt but confirmed a breakout from the near-term hurdle of Rs 791 per share on a closing basis. This was accompanied by massive volumes, providing credence to this move. One can look to go long for a target of Rs 857 per share by following a strict stop loss of Rs 763 per share.



The breakout from the bullish flag continuance pattern signals resumption of the next up leg after a couple of days breather in the stock. After correcting over 60% from its 2015 peak, the stock has been languishing in the Rs 600-350 range for over a year. In the current week, a swift rally backed by unusually high volumes indicates that the stock has attracted the attention of market participants as most midcap IT stocks have seen a decent rally over the past few months.


The bullish flag formation on the daily chart indicates a breather after the sharp rally and provides a fresh entry opportunity to ride the next up leg. The stock is likely to accelerate momentum and head higher in the near-term towards Rs 535 per share as it is the 80% retracement of the most recent down leg from Rs 572 to Rs 353 per share.



The share price of Zensar Technologies has been trading in a rectangle formation by oscillating within a broader range of Rs 750–1,130 per share since August 2015. Over the past 15 months, the stock made multiple failed attempts to sustain above the Rs 960 mark, indicating stiff resistance at that level. The stock logged a breakout from the past 11 week’s consolidation range of Rs 857–997, backed by heavy volumes, indicating a resumption of the uptrend.

Among oscillators, the weekly moving average convergence divergence (MACD) found support from its nine week average and is now pointing upward. The Relative Strength Index (RSI) has retested earlier breakout levels indicating an acceleration of momentum after forming a base above the zero line.

The stock’s momentum is likely to accelerate and head higher in the near-term towards Rs 1,125 per share as it is the implicated target of the weekly consolidation (Rs 997-857) coinciding with identical highs near the upper band of the rectangle pattern of Rs 1,130 per share. On the downside, immediate support remains around Rs 935 per share as it is the placement of eight week’s exponential moving average (EMA) coinciding with the current week’s low.




The D-Link stock has registered a breakout above the bullish flag pattern signalling a positive bias. The breakout was accompanied by strong volume of more than three times the 200-day average volume of 3 lakh shares per session, indicating larger participation in the direction of the trend. Thus, supporting continuance of the positive trend.

During the previous week, the stock witnessed a strong rebound from the support area of Rs 81 per share and rallied to Rs 112 per share in just three sessions. Post this, the index consolidated for the last three sessions during which it retraced its previous up move by just 23.6%, signalling a positive price structure.

We expect the stock to continue its current upmove and test levels of Rs 126 per share being the confluence of the 61.8 percent retracement of the entire decline from Rs 153 to Rs 81 and the high of February 2018 around Rs 126 levels.



The share price of PNC Infratech remains in an uptrend, forming a rising peak and trough on the weekly chart. The stock has rallied to an all-time high of Rs 228 per share in December 2018. Since then, it has been in a corrective decline for the last three months. The recent price activity suggests that the corrective decline has approached maturity and is likely to resume a fresh upmove.

The stock has recently rebounded from the support area of Rs 150-155 per share, being the confluence of its 52-week EMA and 80 percent retracement of the previous up move from Rs 130 to Rs 228. The sharp upmove in the last two weeks from the support area signals a reversal of the corrective trend and offers a fresh entry opportunity. We expect the stock to continue with its current upmove and test Rs 211 per share, being the 80 percent retracement of the entire decline from Rs 228 to Rs 148 per share.




Godrej Properties’ share price was consolidating in a broader range of Rs 728–859 per share over the past two months. During this two month consolidation, the stock has taken support from the gap area of January 8 on multiple occasions, indicating sturdy base formation around Rs 728 levels.

At present, it registered a breakout from the falling trendline drawn adjoining subsequent high of Rs 912–849 supported by above average volumes, indicating termination of an intermediate correction. Among oscillators, RSI found support at its one-year long support base of 35, pointing upward, confirming base formation. The stock is likely to head higher in the near-term towards Rs 850 per share, which is the placement of identical highs coinciding with the upper band of the broader consolidation range of Rs 859-728.

What changed your markets while you were sleeping

A host of domestic earnings, F&O expiry-related volatility and global cues including US President Donald Trump’s slamming of Opec for rising crude prices will influence the domestic stock market when it resumes trade on Monday. Technical charts are giving mixed signals. Let’s check out what else might matter to Dalal Street through the day:

 

Singapore trading sets stage for positive start 
Nifty futures on the Singapore Stock Exchange were trading 58 points, or 0.55 per cent, lower at 10,641, indicating a weak start for the Nifty50. 


The Nifty50 on Friday settled flat to form an indecisive 'Doji' candle on the daily chart. The index ended up making a bullish candle for the fourth consecutive session on the weekly chart, which meant the upside is capped for now, unless Nifty comes out of its rangebound mode. “Unless the Nifty50 emerges out of this 10,594 – 10,509 range with a breakout on either side, trading shall remain listless,” said Mazhar Mohammad, Chief Strategist for Technical Research & Trading Advisory at Chartvi .. 

F&O data suggests further upside 

Minor Put writing was observed at strike prices 10,350 and 10,500 while Call unwinding was seen at all immediate strike prices, which is providing room for further upward move, said Chandan Taparia of Motilal Oswal Securities. Maximum Put open interest stood at strike price 10,500 followed by 10,400 while maximum Call OI was at 10,700 followed by 10,600. The options band suggests an immediate trading range between 10,480 and 10,700 levels, Taparia said. 

Key Q4 earnings today

Bharat Financial Inclusion, Cholamandalam Finance, Delta Corp, GNFC, Bharati Infratel, LIC Housing Finance, Reliance Infra and Reliance Naval are scheduled to announce their quarterly numbers during the day. 

Trump says Long way to go on N Korea 

US President Donald Trump said the North Korean nuclear crisis is far from conclusion on Sunday, striking a cautious note a day after the North’s pledge to end its nuclear tests raised hopes before planned summits with South Korea and the United States, Reuters reported. North Korea said on Saturday it was suspending nuclear and missile tests and scrapping its nuclear test site, and instead pursuing economic growth and peace. 

Trump slams Opec for inflating crude prices

In a tweet, the US President said, “Looks like Opec is at it again. With record amounts of oil all over the place, including the fully loaded ships at sea. Oil prices are artificially very high! No good and will not be accepted!" 

FPI outflows in April at Rs 8,000 crore

Foreign investors have pulled out nearly Rs 8,000 crore from the Indian capital markets so far this month due to 'considerable' volatility in global markets on account of the ongoing trade negotiations and firming up of bond yields. This comes following an inflow of Rs 11,654 crore in equities last month and an outflow of over Rs 9,000 crore from the debt markets. 

DIIs buy Rs 111 cr worth of equities

Foreign portfolio investors (FPIs) sold Rs 21 crore worth of domestic stocks on Friday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 111 crore, data suggested. 


Rupee drops to lowest in 13 months

Bonds and the rupee crashed on Friday as the minutes of the Monetary Policy Committee meeting quoted a deputy governor that signalled there might be a tightening of rates in June if commodity prices rally upset inflation calculations. The rupee breached the crucial 66 level, extending losses against the dollar amid a bout of overseas fund outflows. This week, the local unit lost 1.36 per cent to close at 66.11 a dollar Friday, its weakest in 13 months. 

Sebi may seek forensic probe of ICICI Bank books

Markets watchdog Sebi is mulling getting a forensic examination done on financial statements and disclosures made by ICICI Bank in last few years amid a controversy over alleged conflict of interest involving the lender's CEO Chanda Kochhar and her husband. 

Sebi strengthens dividend payment procedure

Markets regulator Sebi on Friday put in place detailed guidelines to streamline and strengthen procedures with regard to handling and maintenance of records, transfer of securities, and payment of dividend by registrar and share transfer agents. Besides, the norms are applicable for issuer companies and bankers to an issue. The guidelines will deal with areas like payment of dividend, interest and redemption; correction of errors; an .. 

Friday, 20 April 2018

Mangalore Refinery and Petrochemicals Ltd.

Mangalore Refinery and Petrochemicals Ltd. started the day after closing at a price of Rs.105.35 yesterday.

Today's opening price was observed to have decreased 0.4 points as compared to yesterday's opening price. 
Also, the prices went as high as Rs. 105.80 and fell as low as Rs. 102.70 the previous day.
One stock of Mangalore Refinery and Petrochemicals Ltd. was seen to be priced at Rs. 106.6 while a change of 1.25(1.19%) points from the previous trade was also observed as last checked on Apr 20, 09:57 A.M.
The bid-ask spread was -0.1 points and the volume weighed average price (vwap) was Rs. 106.20 .
A price band of Rs. 94.85 - 115.85 was also provided by Mangalore Refinery and Petrochemicals Ltd. to indicate the upper and lower cost range for the day.
the lowest price which was Rs. 102.70 went 2.7 points lower than the opening price.
As the trading hours came to an end, the last volume was of 2,292,413 stocks while the 5 day average volume was 887,435 , the 10 day average volume was of 1,071,071 stocks and the 30 day average volume was of 1,073,086 stocks.
The 5 day average volume fell 203755 stocks, 10 day average volume rose 54428 stocks and 30 day average volume fell 10504 stocks when compared to the previous day’s values.

अच्छे नतीजों से इन 5 स्टॉक्स पर बढ़ा एक्सपर्ट्स का भरोसा, 28% तक दे सकते हैं रिटर्न

फाइनेंशियल ईयर 2018 की चौथी तिमाही (जनवरी-मार्च) के लिए अर्निंग सीजन जारी है और अबतक आए नतीजों ने मार्केट के लिए उम्मीद जताई है। टीसीएस, एसीसी, डीबीबी बैंक, माइंड ट्री जैसी कंपनियों ने अनुमान से बेहतर नतीजे दिए हैं। अर्निंग में रिकवरी से कुछ कंपनियों के लिए आउटलुक बेहतर बन गया है। एक्सपर्ट्स और ब्रोकरेज हाउस ने ऐसे ही कुछ कंपनियों के स्टॉक्स पर भरोसा जताते हुए उनमें निवेश की सलाह दी है। हम यहां ऐसे ही 5 स्टॉक्स की जानकारी दे रहे हैं, जिनमें आगे बहतर रिटर्न का अनुमान है। माइंडट्री, वीएसटी इंडस्ट्रीज, इंफोसिस, डीसीबी और एसीसी में बेहतर रिटर्न का अनुमान है। 

एक्सपर्ट्स का मानना है कि निवेशकों के लिए अर्निंग सीजन पोर्टफोलियो बनाने का बेहतर मौका लेकर आया है। घरेलू और ग्लोबल स्तर पर फिलहाल अर्निंग सीजन को छोड़कर कोई बड़ा पॉजिटिव सेंटीमेंट नहीं है। अगर सीजन बेहतर रहता है तो मार्केट को नई दिशा मिल सकती है। उनका कहना है कि  इस बार सीजन पिछले कुछ सीजन से बेहतर रहने की उम्मीद है। जीएसटी और नोटबंदी के असर से कंपनियां उबर चुकी हैं। सीजन की शुरूआत बेहतर हुई है, इसका असर मार्केट पर दिखने भी लगा है। अर्निंग सीजन की शुरूआत होने के बाद से सिर्फ एक दिन मार्केट में गिरावट रही है। ऐसे में निवेशकों को अर्निंग रिपोर्ट के अनुसार पोर्टफोलियो बनाने की सलाह है। 


वीएसटी इंडस्ट्रीज सिगरेट मैन्युफैक्चरर और डिस्ट्रीब्यूटर कंपनी है। कंपनी का हेडक्वार्टर हैदराबाद में है। कंपनी की चौथी तिमाही में आय 27 फीसदी बढ़कर करीब 279 करोड़ रुपए रही। वहीं, इस दौरान 48 करोड़ का मुनाफा हुआ है। पूरे साल में कंपनी को 182 करोड़ रुपए का मुनाफा हुआ है। कंपनी मैनेजमेंट ने 77.50 रुपए प्रति शेयर फाइनल डिविडेंड भी रिकमंड किया है। प्रीमियम सेग्मेंट में कंपनी को बेहतर मार्जिन मिल रहा है। ब्रोकरेज हाउस आईसीआईसीआर्इ डायरेक्ट ने शेयर के लिए 3900 रुपए का लक्ष्‍य रखा है। करंट प्राइस 3038 रुपए है। 



एसीसी लिमिटेड देश की सीमेंट और रेडी मिक्स्ड कांक्रीट बनाने वाली कंपनी है। चौथी तिमाही में कंपनी का प्रॉफिट 18.48 फीसदी बढ़कर 250.4 करोड़ रुपए रहा। वहीं, इस दौरान आय 14.2 फीसदी बढ़कर 3624.6 करोड़ रुपए रही। एबिटडा मार्जिंन 13.1 फीसदी से बढ़कर 13.6 फीसदी रहा। ब्रोकरेज हाउस आईसीआईसीआई डायरेक्ट के मुताबिक कंपनी की बैलेंसशीट मजबूत है और फ्री कैश फ्लो हेल्दी बना हुआ है। देश में इंफ्रा और लासे कास्ट हाउसिंग एक्टिविटी बढ़ने से डिमांड बेहतर रहने की उम्मीद है। कंपनी कैपेसिटी का बेहतर यूटिलाइजेशन कर रही है। ब्रोकरेज हाउस ने शेयर में 1900 रुपए का लक्ष्‍य दिया हे। करंट प्राइस 1574 रुपए है। 


मिडकैप आईटी कंपनी का प्रॉफिट चौथी तिमाही में सालाना आधार पर 87.5 करोड़ रुपए बढ़ गया है। पूरे फाइनेंशियल ईयर में कंपनी को 570 करोड़ रुपए का मुनाफा और 5462 करोड़ रुपए की आय हुई है। जानकारों का कहना है कि अच्छे नतीजों से कंपनी को बेहतर डिजिटल डील हासिल करने में सफलता मिलेगी। कंपनी ने पूरे फाइनेंशियल ईयर में 100 करोड़ डॉलर से ज्यादा का नया कांट्रैक्ट साइन किया है। ब्रोकरेज हाउस मोतीलाल ओसवाल की रिपोर्ट के मुताबिक आने वाले दिनों में कंपनी की ओवरऑल रेवेन्यू ग्रोथ बेहतर रहेगी। नई डील हासिल करने का मामेंटम भी हेल्दी है। ब्रोकरेज हाउस ने शेयर के लिए 1000 रुपए का लक्ष्‍य रखा है। शेयर का करंट प्राइस 897 रुपए है। 

Thursday, 19 April 2018

TCS dollar revenue growth highest in 14 quarters

The Tata Group firm has reported profit at Rs 6,904 crore for the quarter ended March 2018, registering a 5.7 percent growth compared to Rs 6,531 crore in previous quarter.


Country's largest IT services provider Tata Consultancy Services' March quarter earnings, on Thursday, beat analyst expectations on all front barring operating profit margin that was in line.
"Strong demand in digital across all industry verticals and large transformational deal wins have made this one of best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note," Rajesh Gopinathan, CEO and MD said.

TCS shares gained a percent to close at Rs 3,190.65 on the Bombay Stock Exchange ahead of results that announced after market hours.

Here are 10 key takeaways from company's January-March quarter earnings: Stock Free Tips 
profit

The Tata Group firm has reported consolidated profit at Rs 6,904 crore for the quarter ended March 2018, registering a 5.7 percent growth compared to Rs 6,531 crore in previous quarter and 4.5 percent growth over year-ago period.

Strong revenue growth and higher other income (up 13.7 percent QoQ) boosted profitability.

The Reuters poll of analysts had estimated profit at Rs 6,811.8 crore for the quarter.

Revenue

Consolidated revenue from operations for the quarter grew by 3.8 percent (up 8.2 percent YoY) to Rs 32,075 crore on sequential basis, which was ahead of Reuters poll of Rs 31,669.2 crore.

Revenue for the quarter ended December 2017 was Rs 30,904 crore.

Revenue in dollar terms increased 3.9 percent, the highest growth in last 14 quarters, to USD 4,972 million in Q4FY18, which was far ahead of analyst estimates. Dollar revenue growth on year-on-year basis was in double digit at 11.68 percent.

"Dollar revenue growth was above our 2.4 percent QoQ growth and USD 4,901.9 million estimate. The dollar revenue growth was supported by strong cross currency tailwind (1.9 percent in our view)," ICICIdirect.com Research said.

Revenue growth in constant currency terms was 2 percent (against consensus estimates of over a percent) while volume growth was 2 percent QoQ.

Digital Business

TCS said greater adoption of digital technologies by customers resulted in several large, multipractice integrated deal wins.

Digital engagements contributed 23.8 percent of revenue in Q4 (against 22.1 percent in Q3FY18, a growth of 42.8 percent YoY.

Digital revenue growth was 10.2 percent in constant currency terms QoQ.

Operational Performance

Earnings before interest and Tax (EBIT) increased 4.7 percent sequentially (up 6.8 percent YoY) to Rs 8,147 crore during the quarter, up from Rs 7,781 crore in previous quarter.

Margin for the quarter improved by 20 basis points to 25.4 percent, against 25.2 percent in December quarter, but declined 30 basis points YoY. It was impacted due to higher employee expenses and selling, general and administration cost.

"Disciplined execution delivered an all-time high cash conversion in Q4. With revenue growth improving, and our digital business scaling up, we expect margins to remain in a stable range," V Ramakrlstman, Chief Financial Officer said.

Industry Verticals and Geography Wise Performance

All industry verticals - with the exception of BFSI- grew above company average, with three verticals growing in double digits YoY. Growth was led by the energy & utilities vertical (+33.7 percent), travel & hospitality (+25.4 percent) and life sciences & healthcare (+12.6 percent).

On a YoY basis, the business from Continental Europe grew by 19.1 percent, UK 10.7 percent and Asia Pacific 8.6 percent which all led the growth. North America revenue grew 4.9 percent YoY.

Deal Wins

TCS has seen healthy deal wins during the financial year 2017-18, adding 3 clients in USD 100M+ band, 13 clients in USD 50M+ band, 17 clients in USD 20M+ band and 40 in USD 10M+ band.

Bonus and Dividend

The software services exporter said the board of directors recommended bonus issue of equity shares in the ratio of one share of Re 1 each for every one share of Re 1 each held by shareholders as on the record date, subject to the approval of the shareholders.

The board of directors of the company also approved dividend at Rs 29 per share. "Final dividend will be paid on the fifth day from the conclusion of the Annual General Meeting subject to approval of the shareholders of the company." Total dividend for the year including final dividend stood at Rs 50 per share.

TCS said over around Rs 26,800 crore of cash returned to shareholders in dividends and buyback.

Human Resources

Total employee strength at the end of March quarter stood at 3,94,998 on a consolidated basis. "At an overall level, the focus on training resulted in over 5.6 million learning days in FY18, over 247,000 employees getting trained on digital technologies, and 2,08,000 employees trained on Agile methodologies."

The IT services attrition rate (last twelve months) fell by 0.1 percent in Q4 to 11 percent, while the total attrition rate (including BPS) fell to 11.8 percent.

FY18 Performance

Revenue from operations for the financial year 2017-18 stood at Rs 1.23 lakh crore, an increase of 4.35 percent compared to Rs 1.18 lakh crore reported in previous fiscal while dollar revenue growth was 8.6 percent QoQ at USD 19,089 million.

Profit during the year declined 1.8 percent to Rs 25,826 crore while operating profit increased 0.6 percent to Rs 30,502 crore but margin contracted by 93 basis points to 24.77 percent for the year compared to previous year.

The volume growth for the year was at 7.6 percent & revenue growth in constant currency was 6.7 percent.

Patents

As of March 31, 2018, the company has applied for 3,916 patents, including 299 applied during the quarter. Till date the company has been granted 654 patents, it said.

These 9 stocks are low beta and have high profitability

Expect markets to be rangebound with heightened volatility in the near term, says Harendra Kumar of Elara Equities.


Our analysis shows that companies which have high profitability, high asset efficiency, and are low beta have outperformed over the last 3 months, Harendra Kumar, Managing Director-Institutional Equities at Elara Equities, said in an exclusive interview with Moneycontrol’s Kshitij Anand.
Q: Do you think the recent development on the geopolitical front (military action by the US on Syria) could cap upside for equity investors across the globe?
A: Geopolitics has added to the already heady mix of macro headwinds-elevated concerns around increasing bond yields; fluid domestic political and fiscal policy environment; fear of a trade war between US and China; rising crude oil prices - facing the market.
This will add to market volatility. We expect markets to be range bound with heightened volatility, in the near term.
Q: Mutual Fund flows have slowed down considerably in the month of March thanks to global volatility. Do you think the reduction in DII flows would play in charting direction for our markets?
A: March saw a decline in DII flows after several months of strong flows. We believe the tax planning would have played a major part in the decline in net flows. We expect financialisation trend to continue and will be watching the flows over the coming months carefully
Q: Any stock/sector which you emerge as a dark horse in the year 2018 or FY19?
A: We expect metals and mining to outperform in FY'19 on the back of elevated commodity prices, high domestic demand and operating leverage.
Q: There were many quality stocks which corrected in the last 2-3 months thanks to global volatility. Any top contrarian stocks which investors can buy at current levels and why?
A: Our analysis shows that companies which have high profitability, high asset efficiency, and low beta have outperformed over the last 3 months.
Given the prevailing market conditions, we expect the same parameters to work over the near term. We like Indraprastha Gas, Ashok Leyland, TVS Motor, Crompton Greaves Consumer Electricals, Eicher Motors, Nestle India, Crisil, Amaraja Battery and Hindustan Unilever.
Q: Do you think March quarter earnings could be as strong as consensus estimates? What are your estimates for FY19?
A: March quarter earnings could be under-pressure, primarily due to higher provisioning that we are expecting from banks. We expect FY19 earnings to grow ~18-20 percent.
Q: Most foreign brokerage firms such as Citigroup and CLSA have trimmed their estimates for Sensex/Nifty for 2018. Have your also trimmed your Sensex or Nifty target for December-end?
A: We have December target of 11,400 on the Nifty. We will look at Q4 earnings closely before we take a call on revisions to our target.
Q: What is your assessment of the banking situation? It looks like new skeletons are coming out of the closet every day. Do you see PSU banks a potential long-term buy at current levels or investors should stick to private sector banks and NBFCs?
A: PSBs would witness issues on-balance-sheet growth, NPL provisioning, and core capital fronts. Only BOB and SBI would be relatively better off due to their focus on retail credit, higher provision cover and relatively better standing on core capital (CET I).
Among PSBs, better places would be BOB & SBI. Private banks (particularly retail focused ones) would post higher balance-sheet growth, legacy issues are less or negligible and profit growth would be much higher.
Private banks with corporate exposures would underperform. Apart from NCLT I & II lists, banks themselves are aggressively approaching NCLT/IBC for resolution of cases, which would be a drag for time being. Among private banks, we prefer IIB and CUBK.
On NBFCs, we recommend to go selective, given the current valuations. We prefer PNB housing among HFCs, JM as a diversified play and Shriram transport finance on vehicle financing side.
Q: The crude price shock has taken equity markets by a surprise. Do you think if the crude stays above USD 71/bbl it would spell trouble for the economy as well as OMCs?
A: If crude stay above USD 71/bbl, it will be negative for inflation outlook with associated impact on the fiscal situation. Industries like paints may have a negative impact on earnings outlook.
In rising crude oil scenario, the governments would like to cushion retail customers through reduction of excise duty, but at the same time, it would like OMCs to absorb the impact through lower margins or delay in price hikes.
OMCs might additionally be impacted due to higher dependence on government subsidies, which if delayed will lead higher interest expenses. However, we expect crude prices to cool down and stay within USD 60-70/bbl range.
Q: Midcaps are trading over 70 percent premium (in terms of PE) to Nifty. Do you think this premium could actually narrow down in 2018 and possibly in 2019?
A: We see a risk to midcap premiums over the next year. Within midcap, we like low leverage midcaps stocks with earning visibility for the next two years; high quality – efficient management, top brands, industry leadership, first mover advantage; and those with location advantages (eg. like in cement).
Q: Any secular story which you are tracking? Are there any businesses, which are trading at a fair price – Great business at a good price which is seldom seen?
A: Rural consumption and public capex are the two themes that we like. Quality companies associated with these themes are likely to outperform.
Coming to businesses, our analysis shows that the value markets ascribe to long-term earnings (beyond the next 2 years) is at its highest levels. At the same time, we are seeing near-term earnings (next two years) visibility expanding for the market overall, and in most sectors.
Given this, businesses with high near-term visibility that derive more value from near-term earnings will be attractive. Energy, Utilites and IT are spaces where one could focus.

Wednesday, 18 April 2018

Don't miss out! Top 10 growth stocks

Equity investors are always on a look out of stocks which offers growth and at the same time available at reasonable valuations which makes them attractive ‘buy on dips’ stock.

Morgan Stanley in its report released earlier in the month of April handpicked over 10 stocks which are available at reasonable valuations. For computing these stocks, the global investment bank filtered stocks using parameters such as beta, future growth rate, and Return on capital employed.


Most of the stocks such as Asian Paints, Cadila Healthcare, BPCL, Havells India etc. have a beta less than 1 which in other words mean that these stocks are less volatile and will not fall/rise with the same magnitude compared to market movement.
“Low beta stocks indicates less volatility in price movement and simultaneously, and if the ROCE is rising investor can be pretty sure that the money invested in the company is being used efficiently, leading to higher profits,” D K Aggarwal, Chairman, and MD, SMC Investments and Advisors Ltd told IdealStock.
However, these may not be the only indicators of the company's prospects. The growth of the industry the company operates in and investment in productive capacities also merit close scrutiny.
“Besides ROCE and Beta, investors should look price-to-book value (P/BV) ratio, debt-to-equity ratio and price/earnings growth ratio to name a few. The P/BV ratio values shares of companies with large tangible assets on their balance sheets,” said Aggarwal.
Apart from these ration investors could also look at a debt-to-equity ratio which shows how much debt the company has on its books.
The PEG ratio which is price earnings to growth will help investors to know the relationship between the price of a stock, earnings per share (EPS) and the company's growth, suggest experts.We have collated a list of top 10 high growth stocks which are available at reasonable valuations based on a report from Morgan Stanley:
Analyst: D K Aggarwal, Chairman, and MD, SMC Investments and Advisors Ltd
Cadila Healthcare Limited
The management expects that the fourth quarter would see around 10-12 new product launches in the US and this would continue for the upcoming quarters. The company expects, the share of US to rise in overall revenue - from a roughly 50 percent now to 55 percent in FY19 and the US would contribute around 60 percent of its revenues by FY20.
The management expects that US business to witness price erosion in the range 10-12 percent in FY2018E and 8-10 percent in FY2019E. It has guided for overall US revenue (reported) growth in FY19E, despite high base due to gLialda sales in 180?days exclusivity in FY2018E.
The company has planned a capex of Rs 1000 crore for FY2019. Research & Development (R&D) expenses will remain in the range of 7-8 percent of sales over next two years.
Havells India Limited:
The company has been continuously growing in each business parameter and it is expected that it would be directly benefitted by the Government initiatives such as “Housing and power for all”.
It is best placed to attain scale across businesses with its new SBU (Strategic Business Unit) structure and focused product-wise branding strategy.
It has pioneered the concept of the exclusive brand showroom in the electrical industry with ‘Havells Galaxy’. It became the first FMEG Company to offer doorstep service via its initiative ‘Havells Connect’.
Indraprastha Gas limited:
The company expects its sales volume to industrial and commercial clients rise 20 percent in 2018-19, after experiencing a similar gain last fiscal year, following a ban on using polluting pet coke and fuel oil in the National Capital Region on rising green concerns.
It plans to use the restrictions on polluting fuel as an opportunity to add as many as 2,000 industrial and commercial customers in 2018-19 to its current base of 3,000. It is also planning to rapidly expand sales of compressed natural gas (CNG), used by cars and buses.
To tide over the scarcity of land in cities for setting up fuel stations, IGL has begun appointing dealers to set up CNG stations – so far the company owned and operated all its filling stations.
For its expansion, IGL is focusing on congested colonies, which had escaped attention earlier but are now being targeted with enhanced security features.
Mindtree Limited:
The Company’s overall strategy of achieving industry-leading growth through deep domain expertise in chosen verticals combined with technical depth, customized for clients remain the same.
An enviable client list and a fantastic leadership team are two clear advantage areas for Mindtree and plan to leverage them to engineer meaningful technology solutions to help businesses and societies flourish.
The company has positioned itself as a comprehensive solutions provider. As per management of the company it has the capability to create opportunities to cross-sell its R&D engineering services to its clients and also supplement its IT services capabilities.
Petronet LNG Limited:
As there is a shortage of natural gas supply, the company will get the benefit as the primary play on increasing usage of LNG. In the long term, we expect volumes to remain strong and contribute significantly going forward.
Dahej capacity expansion from 15.0 million tonne (mt) to 17.5 mt is expected by June 2019. The project is 70 percent complete. In addition to the on-going capex, the company has also decided to add one more tank at a cost of Rs 600 crore.
This would increase the operational flexibility for PLNG and allow it to operate the terminal at full capacity. Management expects FY19 capex at Rs 400 crore, mostly on Dahej expansion and some initial capex on new storage tanks at Dahej.
Zee Entertainment Enterprises Limited:
The company has entered into newer geographies both domestically and globally, launched multiple channels, strengthened distribution, expanded the genres and widened its audience profile.
Moreover, the management focuses towards expansion and it is expected that market share would give strong growth to the company in coming years. Going forward, better content performance, increasing regional market share, tight cost control at the sales and distribution levels, a turnaround of the loss-making Zee Tamil, & TV and music businesses in FY19 may lead to superior margins.
JSW Steel Ltd:
Goldman Sachs maintains a buy call on JSW Steel and raised its target price to Rs342 from Rs 315 earlier. The medium-term fundamentals remain resilient, and the tariff barriers can impact steel margins, said the report.
ITC:
Credit Suisse maintains a neutral rating on ITC with a target price of Rs 320. The budget is still relevant post-GST for ITC and the risk-reward favourable at the margin. The valuations for ITC attractive relative compared to its peers.
Infosys:
CLSA maintains buy on Infosys with a target price of Rs1340. The IT major reported results which were largely inline with revenues but ahead on margins. The FY19 revenue guidance is solid at 7-9 percent YoY in USD (6-8 percent in CC).
The guidance suggests growth acceleration and stable client relationships. Infosys should get back to catching up with peer growth rates soon. The stock offers the highest potential for a rerating in the sector.
Titan Company Ltd:
Titan’s stock has delivered immense value to investors over the last several years, and its ability to compound earnings at 23 percent p.a. over the past 10 years has been a key enabler in this regard, JM Financial said in a note.
“We believe that 20 percent revenue CAGR over FY18-23E should also support margin expansion that should ideally lead to an even higher rate of growth in profit over the same period (operating leverage), which would help sustain the stock’s premium valuation, in our view,” said the report.
Titan just announced an ‘extension’ of its target 20 percent-CAGR phase in its Jewellery business (2.5x increase in size in 5 years) to FY18-23E. It is important to note that the company has not delayed the time by which its Jewellery business will grow 2.5x vs FY17 level. Titan aims to compound jewellery revenue by 20 percent p.a. in the next five years as well, on FY18’s base.


Tuesday, 17 April 2018

PM Modi arrives in Sweden: A look at India's ties with the Nordic country

Prime Minister Narendra Modi today arrived in the capital of Sweden, whereby the Swedish PM Stefan Lofven received him at the airport.

In a first bi-lateral visit by an Indian premier to a Nordic nation in 30 years, Prime Minister Narendra Modi on Tuesday arrived in Stockholm, where he was received by his Swedish counterpart Stefan Lofven.
PM Modi's visit to the India-Nordic Summit is likely to strengthen ties with Sweden and increase bilateral trades between the two nations countries. He is on the first leg of his five-day tour which will also take him to the UK where he will attend the Commonwealth Heads of Government Meeting (CHOGM). IDEAL STOCK
Here's a look at India-Sweden ties so far: 
The bilateral ties between India and Sweden go back to the 1940s. Several companies have engaged in trade leading to the establishment of bilateral trade of more than USD 2.2 billion as of 2016.

Indian ties with Sweden reached new heights after the then President of India visited Sweden in 2015, followed by the Swedish Prime Minister Stefan Löfven's visit to India in 2016 for the ‘Make in India Week’ in
Mumbai. Former Prime Minister Fredrik Reinfeldt also visited India in November 2009 for the India-EU Summit and bilateral talks.
Political ties
Several inter-governmental Agreements or MOUs in the areas including sustainable development, education, health, space, identified defence, infrastructure, urban development, education, S&T, environment, railways and energy has been signed between the two countries.
During former president Pranab Mukherjee's visit, six MOUs in important areas, including sustainable urban development; micro, small and medium enterprises; visa exemption for diplomatic passports; polar and ocean research; ageing and health; and pharmaceutical products and 15 agreements between educational institutions, were signed.
An India-Sweden Business Leaders Roundtable was created in February 2016 during the visit of the Swedish Prime Minister to India, with CII and Sweden-India Business Council as its coordinating agencies. The first Roundtable took place on 11 November 2016 in New Delhi.
Strategic and Defence Cooperation

Both the countries signed an MoU for defence cooperation in 2009, under which an India-Sweden Joint Working Group was established with a focus to promote ‘Make in India’ programme in defence sector and to identify more areas for cooperation in research and development for coproduction.
After visits of prominent defence heads from either countries, India and Sweden noted the scope for further enhancing bilateral defence cooperation to a higher level. The Swedish side expressed its willingness to work with India under ‘Make in India’ initiative and to pursue defence equipment cooperation
Economic and Commercial relations
India is Sweden's 19th largest export market and third largest trade partner after China and Japan in Asia.
The main Swedish exports to India are pharmaceuticals, paper and pulp products, chemicals, engineering products and telecom equipment, while the main items of Indian exports are chemical products, food products, and semi manufactured and manufactured goods.
Indian companies such as Aditya Birla Group, Wipro and Bharat Forge are among the other major investors in Sweden. According to rough estimates, the cumulative Indian investment in Sweden is in the range of USD 700-800 million. Similary, Swedish companies including Atlas Copco, Sandvik, Alfa Laval, Volvo, Astra Zeneca, SAAB, have invested in India.
Cultural and Educational Relations
Indian music, dance, art, literature, films and cuisine are promoted in Sweden by local associations and the Embassy with the support of the Indian Council of Cultural Relations.
Several Swedish universities have established links with Indian educational institutions and regularly send students to India for different programmes. The establishment of Chairs on India Studies at major Swedish Universities – Lund (now discontinued), Gothenburg and Uppsala – have given an impetus to the academic interest in India.

Monday, 16 April 2018

Trade Setup for Tuesday: Top 15 things to know before Opening Bell

-:Top 15 things to know before Opening Bell :-

As the index registered its eighth successive close in positive terrain, some pause or consolidation can’t be ruled out going forward
Bulls managed to recoup early losses on D-Street and helped the Nifty to close above 10500 levels for the first time since February 26 on Monday. The index formed a strong bullish candle on the daily candlestick charts.
Despite weak global cues Nifty managed to close above its crucial resistance levels of 10500 towards the close of the trade which has opened fresh target for the index towards 10600 levels. Investors are advised to maintain their long positions with a stop below 10370 levels.
The Nifty index opened gap down but witnessed sustained buying interest throughout the trading session to settle near day’s high which suggests strength in Indian markets.
The Nifty Midcap index and the Nifty bank gain more than 100 points each. The market breadth was in favour of declines despite gains. The advance-decline ratio stood at 1:1.
The Nifty which opened at 10398 slipped marginally to hit its intraday low of 10396 before bouncing back. It hit an intraday high of 10540 before closing 47 points higher at 10,528.
“In line with our expectations, bulls shrugged off the geopolitical tensions as initial dip was bought into by the market participants which resulted in a strong bullish candle formation suggesting that the trajectory of this market is changing from sell on rallies to buy on dips mode,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory
“However, as Nifty heads towards much higher levels, real challenge for bulls lies in destroying the critical resistance placed around 10630 levels. Once this level is decisively conquered then this up move shall get extended further towards 10900 kind of levels,” he said.
But as the index registered its eighth successive close in positive terrain, some pause or consolidation can’t be ruled out going forward in next couple of trading sessions.
Mohammad further added that on the downsides positional traders are advised to place a stop below 10370 levels breach of which on closing basis shall once gain favour bears. Till then all dips should be considered as an opportunity to go long.
India VIX moved up by 0.51% at 14.21. VIX has to cool down to extend its positive momentum. On the options front, maximum Put OI was seen at 10300 followed by 10400 strikes while maximum Call OI is at 10700 followed by 10500 strikes.
We have collated the top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 10,528.3 on Monday. According to Pivot charts, the key support level is placed at 10,436.33, followed by 10,344.37. If the index starts moving upwards, key resistance levels to watch out are 10,580.23 and 10,632.17.
Nifty Bank
The Nifty Bank index closed at 25,320.8. The important Pivot level, which will act as crucial support for the index, is placed at 25,142.54, followed by 24,964.27. On the upside, key resistance levels are placed at 25,423.84, followed by 25,526.87.
In terms of open interest, the 10,700 call option has seen the most call writing so far at 44.16 lakh contracts. This could act as a crucial resistance level for the index in the April series.
The second-highest buildup has taken place in the 10,500 Call option, which has seen 39.78 lakh contracts getting written so far. The 11,000 Call option has accumulated 35.98 lakh contracts.
Call writing was seen at the strike price of 10,700, which added 3.59 lakh contracts, followed by 11,000, which added 51,450 contracts.
Call unwinding was seen at the strike price of 10,400, which shed 2.77 lakh contracts, followed by 10,500, which shed 2.36 lakh contracts, and 10,300, which shed 1.43 lakh contracts.
Maximum open interest in put options was seen at a strike price of 10,300, in which 55.45 lakh contracts been added till date. This could be a crucial resistance level for the index in April series.
The 10,400 put option comes next, having added 53.51 lakh contracts so far, and the 10,000 put option, which has now accumulated 44.79 lakh contracts.
During the session, put writing was seen the most at a strike price of 10,500, with 7.72 lakh contracts being added, followed by 10,400, which added 4.86 lakh contracts and 10,300 with 3.13 lakh contracts.
Put unwinding was seen at the strike price of 10,200, which shed 6.01 lakh contracts, followed by 10,000, which shed 2.41 lakh contracts.
FII & DII data:
Foreign institutional investors (FIIs) sold shares worth Rs 308.13 crore, while domestic institutional investors sold shares worth Rs 28.97 crore in the Indian equity market, as per provisional data available on the NSE.

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