Wednesday 16 April 2015

Domestic indices

Market wrap up Benchmark indices declined 1% yesterday, snapping gains made in the last seven consecutive sessions, as investors chose to book profits and stay on the sidelines ahead of earnings of key index majors. Reports that the government will go ahead with its minimum alternate tax demand on foreign institutional investors weighed on sentiment to some extent. Information technology, pharmaceutical, realty, capital goods, and automobile shares led the losses in indices.Nifty ended below the 8800-mark at

Global indices

8750.20, down 83.80 points or 1% from Monday, after touching a high of 8844.80 points and a low of 8722.40 points intraday. The Sensex closed at 28799.69, down 244.75 points or 0.8%. The 30-share index touched a high of 29094.61 points and a low of 28721.63 points during the day.

Global trends Key US indices ended higher on Wednesday as worries about poor Jan-Mar earnings receded, and crude oil prices surged. Shares of energy companies were among the leading gainers,

As on 8.00 IST

Market Snapshot

boosted by a near 6% rise in crude oil futures, leading to the energy index rising more than 2%. Most Asian indices were trading in the green, taking cues from the firm closing on the Wall Street overnight. Japanese shares were lower in choppy trade, as strength in the yen against the dollar weighed on shares of exportoriented companies.

Market preview Share indices are expected to fall further today, extending lastday's losses, as traders continue to book profits after the recent gains. Cues from global markets and corporate earnings will also be watched. Among sectors, shares in the midcap space, which have outperformed their large-cap peers in the last Nifty Spot intraday 15 Min

two weeks, are also expected to witness profit booking.Nifty future has got intraday support at 8720/8660 and resistance at 8820/8848 -1

News corner Corporate SAT adjourns DLF's appeal against Sebi penalty Realty major DLF’s appeal against the Securities and Exchange Board of India’s (Sebi) penalty order has been adjourned to July 9 by the Securities Appellate Tribunal (SAT). The order, imposing a penalty of Rs 86 crore, was passed by Sebi in February. SAT directed Sebi to file a reply within six weeks and for DLF to file a rejoinder to this, if any.Meantime, SAT has stayed the penalty. In October last year, Sebi passed an order against DLF for non-disclosure of key information in its initial public offer (IPO) document of 2007. The company had raised around Rs 9,000 crore in what was the biggest-ever IPO then.

State Bank of Travancore raises Rs 474 cr via rights issue SBI associate State Bank of Travancore has raised over Rs 474 crore through a rights issue to fund business expansion. "The Committee of Directors... Has approved the allotment of 1,18,50,694 equity shares with a face value of Rs 10 each for cash at a price of Rs 400, including a premium of Rs 390 per equity share, aggregating Rs 474.03 crore, to eligible applicants of the rights issue," it said in a filing to the BSE.SBT is one of the five associate banks of the State Bank of India. Shares of the bank fell 2.68 per cent to Rs 444.50 apiece on the BSE, post the right issue announcement.

Domestic PMS segment loses clients Compulsorily raising the minimum size to Rs 25 lakh from the earlier Rs 5 lakh has cost the portfolio management service (PMS) sector nearly a third of its client base over three years.The number of PMS clients has dropped by 20 per cent in the past year, despite a sharp rally in the equity market.Since the introduction of a Rs 25 lakh minimum INVESTMENT size in January 2012, the client base has eroded by around 30 per cent. Since the regulation came into place, the total number of clients is down to 46,056 at the end of February this year, compared to 66,585 in March 2013.“The raising of the INVESTMENT limit has been a big dampener. It is a struggle to get new clients with such a large ticket-size.

International European shares at 14-year high on central bank largesse European shares hit a 14-year high on Wednesday before a meeting at which the European Central Bank is expected to affirm its loose policy stance, as weak data from China raised prospects of monetary easing there too.Financial markets remain driven by policy action from the world's major central banks, with Tuesday's softer US retail sales supporting the view

that the Federal Reserve will not rush to raise interest rates in June.The ECB is almost certain to keep rates unchanged at record lows at its meeting later in the day, and also tipped to quash talk it might scale down sooner than planned the 1 trillion euro quantitative easing scheme it launched last month.A banking source told Reuters on Tuesday the ECB raised the cap on emergency liquidity assistance that Greek banks can draw from the country's central bank, taking some of the heat off Athens. -2-

Stock to watch

Actions watch

 DLF: The Securities Appellate Tribunal has imposed a stay on the Securities and Exchange Board of India's order charging the company a fine of 260 mln rupees till Jul 9

BONUS Company

 EICHER MOTORS: Foreign portfolio investors can now invest up to 49% in

INSECTICID

Ratio 1:2

Ex.date 16-APR

the company.  ESSAR OIL: The Gujarat High Court stayed an order by the Gujarat

Dividends

Commercial Tax Tribunal, providing respite to the company in a 6.6-bln-rupee

Company

tax dispute case, and has asked the company to file its response before Apr 24.

KBIL

Div/Share

Ex.date

Rs 20.00

16-APR

 FINANCIAL TECHNOLOGIES INDIA: Has completed the stake sale in MCXSX and now holds no shares in the bourse.  GAMMON INDIA: Has secured orders worth 8.41 bln rupees--one each in

52 WEEK HIGH

Assam and Uttar Pradesh.

ALKALIMETALS

MVL

 IDFC: IDFC Alternatives, a private equity arm of the company, is planning to

BRITANNIA

UB ENGINEERING

EVEREADY IND

VKS PROJECTS

raise $600 mln from two funds.  JINDAL STEEL & POWER: Foreign institutional investors cut their stake by

52WEEK LOW

FORTIS HELTH HDIL

127 basis points to 18.66% during Jan-Mar, from 19.93% at the end of December.  LARSEN AND TOUBRO: Subsidiary of the company L&T Infrastructure

DERIVATIVES IN BAN PERIOD

Finance Co is looking to raise 1 bln rupees via non-convertible debentures.

UNITECH

WOCKPHARMA

CENTURYTEX

HDIL

 NESTLE INDIA: Nestle Group is in talks to sell its frozen foods unit, Davigel, to food service operator Brakes Group as part of a plan to trim its portfolio.  PANTALOONS FASHION AND RETAIL: Chief Executive Officer Kishore

IBREALEST RESULTS TODAY

Biyani is looking to offload remaining 14% stake in the company to pare the group's debt.

Data Data Alert

Today’s Thought

Overseas  US HOUSING STARTS AND BUILDING PERMITS in March. 1800 IST.

Domestic NO DATA -3-

Put your heart, mind, and soul into even your smallest acts. This is the secret of success. Swami Sivananda

Muthoot NCD Previous day’s recommendation tracker Stock

Type

Buy/Sell

Entry(INR)

SL

Tgts

Remarks

MOTHERSUMI

INTRADAY

SELL

506

511.1

498

SL TRGRD

JSWENERGY

INTRADAY

BUY

121

119.2

123

SL TRGRD

BATAINDIA

INTRADAY

BUY

1140

1128

1158

TARGET ACHIVED

PIDILITEIND

INTRADAY

BUY

584

580

592

TARGET ACHIVED

RELIANCE HAVELLS

INTRADAY INTRADAY

BUY SELL

869 289

859.5 297.7

881 285

TARGET ACHIVED TARGET ACHIVED

HEROMOTORS

INTRADAY

SELL

2608

2634

2580

EXITED @ 2612

INTRADAY INTRADAY INTRADAY INTRADAY INTRADAY INTRADAY INTRADAY Delivery Calls INTRADAY

BUY SELL SELL BUY SELL BUY SELL SELL

187.9 160.25 1765 850 404.5 148.9 1358 51.2

185 162 1780 842 407.5 147.4 1371 50.4

191.3 157.5 1745 865 399 150.5 1340 51.8

EXITED @ 189.50 EXITED @160.80 EXITED @1767 EXITED @ 853.80 TARGET ACHIVED TARGET ACHIVED TARGET ACHIVED EXITED @ 51.10

Previous day’s recommendation tracker

EXIDEIND JINDALSTEEL LT ASIANPAINT TITAN POWERGRID TATAELXI Outstanding JMFINANTIAL

Outstanding Delivery Calls Sl.No

Rec.DATE SCRIP

1 6-Apr-15 Result Estimates 2 9-Apr-15

Buy/Sell Entryleve stop loss Target l1912.00 1712.00 2168.00 346.00 330.00 370.00

WOCKPHARM BUY A ZEEL BUY

-4-

CMP

Duration

Return(%)

Status

1890.00 357

6 Months 1YEAR

-1.15 3.18

STLL VALID

AmountSTLL in INR Cr VALID

Research Team-Technical Kiran Kumar

Manager- Research

0484-3937506

[email protected]

Vinod E S

Asst.Manager-Technical Research

0484-3937588

[email protected]

Ganesh.A.G

Technical Analyst

0484-3937588

[email protected]

Disclaimer

-5-