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Market Mantra Report as on August 11,2017

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august 11th,2017

Market Mantra Report

 

Major Headlines:

Market Summary:

Microeconomic Front:

Corporate Front:

Trading Ideas:

Events for the day:

Global Signals:

Sectoral& Stock Screening:

 

US stocks witness correction with Nasdaq falling over 2%. Gold rises along with bonds as clamor for safety gathers momentum. North Korean geopolitical risk rise which gives reason for markets globally to see much needed correction.

 

 

                                                             

 

 

Major headlines:

·         RBI dividend to gobernment halves to Rs 30659 cr

·         Japanese firm to invest Rs 1000 cr in Andhra

·         IOC buys more U.S crude; First to purchase eagle Ford shale oil

 

 

Indian Indices:  Asian indices opened in the red for another day as fear saw stocks plummet with clamor for safety getting louder. Gold prices rose sharply with the asset hitting 3 month highs as defensive buying saw the price move up. With the Japanese markets shut the strength in the Yen trading at 109 would have seen further decline in export stocks.

Nifty breached 9800 briefly before closing above 9800 as the carnage on mid caps continue to weaken sentiment. Metals, IT and select Private Banks saw buying support while Pharma, PSU Banks and Auto's saw selling get stronger as weak results from Tata Motors and Eicher Motors hurt sentiment. For today expect weekend blues to play dampener as Rupee weakness, foreign selling and important bank results to keep sentiment weak.

The BSE Sensex is currently trading at 31312.09, down by 219.24 points or 0.70% after trading in a range of 31194.87 and 31355.92. There were 5 stocks advancing against 26 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 0.12%, while Small cap index was down by 0.41%.

The CNX Nifty is currently trading at 9745.40, down by 74.85 points or 0.76% after trading in a range of 9704.35 and 9757.55. There were 12 stocks advancing against 39 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATop Gainers

 

 

Company

Price (Rs)

% chg

Hathway

36.30

20.00

HDIL

59.40

5.88

Bajajfinanc

1717.50

4.83

Sintex

28.50

4.40

Group ATop Losers

 

 

Manapuram

85.85

-8.03

Adanitrans

107.90

-7.82

Centralbk

77.10

-6.03

SCI

82.50

-5.88

 

 

Technical view:  Nifty now finds support around 9700 which was the June resistance and faces strong resistance around 9850, while Bank Nifty looks set to breach 24200 and will find resistance around 23850 while 24500 will act as strong resistance. 

 

 

 

Ashok Leyland Aug Futs (Sell Below 103.50 with Stop Loss at 105 for Target of 98): The stock has constantly been under pressure for the past week and has finally broken down from a rising channel pattern on the daily chart. Other oscillators also indicate that current weakness is likely to extend. Ashok Leyland has also cracked below its 21-DMA support zone, which further accentuates our short term bearish stance on the stock.

Economy Snippets:

After the GST Council empowering the Centre to bring an amendment in the compensation law to increase ceiling on cess on the luxury cars, infuriating auto companies, the finance ministry ruled out lowering cess on hybrid luxury cars. (BS)

The government's capital expenditure will rise by 25 per cent to Rs 3.9 lakh crore by 2019-20, with defence outlay alone jumping 22%, according to the Mid-Year Review tabled in Parliament.

Varun Beverages board approved its intent to enter into a binding agreement to acquire PepsiCo India’s previously franchised territories of the State of Odisha and parts of Madhya Pradesh along with three manufacturing units at Cuttack, Bargarh and Bhopal (Mandideep).

 

Nifty Movers:      The top gainers on Nifty were Aurobindo Pharma up by 1.77%, Infosys up by 1.37%, GAIL India up by 1.23%, Tech Mahindra up by 1.23% and Wipro up by 0.61%. On the flip side, Vedanta down by 2.73%, Asian Paints down by 2.54%, Hindalco down by 2.44%, Larsen & Toubro down by 1.85% and ONGC down by 1.80% were the top losers.

 

Top Sectoral& Stock Screening:     The top gaining sectoral indices on the BSE were Realty up by 0.52%, IT up by 0.24%, Consumer Durables up by 0.14% and TECK up by 0.06%, while Capital Goods down by 1.18%, Metal down by 1.16%, Industrials down by 0.97%, Auto down by 0.94% and Consumer Disc down by 0.91% were the losing indices on BSE.

 

 

On the global front:         On the global front, Asian markets were trading in red, hit by tough language between North Korea and Washington that has sparked safe haven demand. China’s fiscal spending rose at a slower pace in July due mainly to larger expenditure earlier, but a government-led infrastructure push has kept spending brisk this year.

Global Signals:     The Asian markets were trading in red; Hang Seng decreased 559.01 points or 2.04% to 26,884.99, Jakarta Composite decreased 62.98 points or 1.08% to 5,762.97, Shanghai Composite decreased 45.96 points or 1.41% to 3,215.79, KOSPI Index decreased 41.59 points or 1.76% to 2,317.88, FTSE Bursa Malaysia KLCI decreased 8.6 points or 0.48% to 1,769.17 and Taiwan Weighted decreased 1.48 points or 0.01% to 10,328.26.

 

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Market Mantra Report

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august10th,2017

Market Mantra Report

 

Major Headlines:

Market Summary:

Microeconomic Front:

Corporate Front:

Trading Ideas:

Events for the day:

Global Signals:

Sectoral& Stock Screening:

 

US stocks recover in last hour to close with marginal losses as Trump rhetoric see 'war' threat fade away as better sense prevails. Bond yields hit 2.24% while Gold also sees rally easing as equities recover.

                                                             

 

 

Major headlines:

·         RBI may need to drain up to $22 billion as inflows add to excess liquidity

·         Wouldn’t have approved demonetization

·         Buayantbitcoinstriscryptobubble fears

 

 

Indian Indices:Asian indices opened in the green with Japanese 'Nikkei" seeing gains being sold into as caution prevail before important jobs data due on Friday. South Korean stocks also see some gains even as geopolitical risk emanates stronger than ever before.

Nifty breached 9900 before closing at 9908 with Bank Nifty being the main culprit hitting 24300 as financials lead the downside. Mid cap carnage and leveraged trade unwinding continues to see sentiment turn weak even as local mutual fund flows support the market. For today expect rallies in the morning session to see selling emerge closer to 9950.

The BSE Sensex is currently trading at 31653.32, down by 144.52 points or 0.45% after trading in a range of 31588.26 and 31756.27. There were 9 stocks advancing against 22 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 1.12%, while Small cap index was down by 1.37%.

The CNX Nifty is currently trading at 9856.85, down by 51.20 points or 0.52% after trading in a range of 9835.95 and 9879.20. There were 12 stocks advancing against 39 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Techm

411.75

5.01

BBTC

908.45

3.50

Hdil

59.20

3.14

MMTC

58.90

2.88

Group ATopLosers

 

 

Natcophar

739.75

-10.94

Tatamotors

386.20

-7.33

Tatamtrdvr

224.60

-7.32

DBL

533.25

-5.07

 

 

Technical view: Nifty now finds support around 9845 while 9950 will act as resistance on the upside. Bank Nifty finds support around 24000 while 24650 will act as resistance on the upside.

 

 

 

Exide Industries (Sell Below 207 with SL at 211 for Target of 200): The stock has been consolidating from the past four weeks and has finally broken down from a Symmetrical Triangle Pattern on the daily chart. Exide has also cracked below its long term 200-DMA, which further accentuates our short term bearish stance on the stock. Other oscillators also indicate that current weakness is likely to extend.

Economy Snippets:

The government has notified the timeline for furnishing final tax returns for July and August under the Goods and Services Tax (GST) regime.

 

A war of words over foreign influence on Indian policymaking broke out on Tuesday after NITI Aayog vice-chairman-designate Rajiv Kumar suggested in a newspaper column that Indian-American economists were fading away as part of the ongoing policy transformation in the government. 

 

The government crackdown against 331 “suspected shell companies” has hit several investors, including mutual funds and small investors, who hold shares worth nearly Rs 9,000 crore in these

 

Nifty Movers: The top gainers on Nifty were Tech Mahindra up by 3.73%, AurobindoPharma up by 2.66%, Dr. Reddy’s Lab up by 1.31%, Lupin up by 1.15% and Infosys up by 1.10%. On the flip side, Tata Motors - DVR down by 7.35%, Tata Motors down by 6.65%, Eicher Motors down by 4.03%, BPCL down by 3.50% and Vedanta down by 2.07% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were IT up by 0.40% and TECK up by 0.26%, while Industrials down by 2.01%, Auto down by 2.01%, Power down by 1.43%, Utilities down by 1.42% and Metal down by 1.40% were the losing indices on BSE.The top gainers on the Sensex were Dr. Reddy’s Lab up by 1.50%, Lupin up by 1.19%, Infosys up by 1.05%, HDFC up by 0.74% and Sun Pharma up by 0.68%.

 

 

 

 

On the global front:On the global front, Asian markets were trading in red, as investors fretted on lingering North Korea tensions, sending Seoul shares skidding to two-month lows even as the previous day’s rush into safe-haven assets appeared to slow. Japan’s core machinery orders unexpectedly fell for a third consecutive month in June, underscoring companies’ reluctance to boost spending and conflicting with recent signs that the economic recovery is gathering momentum.

 

Global Signals:The Asian markets were trading in red; Hang Seng decreased 343.96 points or 1.24% to 27,413.13, Taiwan Weighted decreased 150.43 points or 1.44% to 10,319.95, Shanghai Composite decreased 31.12 points or 0.95% to 3,244.46, Nikkei 225 decreased 20.57 points or 0.1% to 19,718.14, KOSPI Index decreased 7.65 points or 0.32% to 2,360.74, Jakarta Composite decreased 3.61 points or 0.06% to 5,820.39 and FTSE Bursa Malaysia KLCI decreased 1.17 points or 0.07% to 1,776.77.

 

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Market Mantra Report

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august08th,2017

Market Mantra Report

 

Major Headlines:

Market Summary:

Microeconomic Front:

Corporate Front:

Trading Ideas:

Events for the day:

Global Signals:

Sectoral& Stock Screening:

 

Technology stocks drive US indices to a new high as light volumes keeps the unstoppable bull charge going. Oil, Gold and Bond yields remain range bound as ETF flows continue to see money chase equities.

                                                             

 

 

Major headlines:

·         India’s major ports see rise in cargo traffic by 4.13%

·         China’s July exports, imports weaker than expected cloud global outlook

·         BhartiAirtel subsidiary selling stake in BhartiInfratel for up to $400 million

 

 

Indian Indices:Asian indices opened on a quiet note as profit booking was the call in early trade. With China to release trade data later today most would focus on growth numbers to further validate investment buying as valuations reach stretched levels. 

Nifty saw a strong opening get sold into as last hour selling further dragged the index into the red. Buying in Metals and PSU Banks was evident while selling emerged in IT, Media and Pharma stocks. For today expect another day of sector/stock specific action as the index remains range bound.  

The BSE Sensex is currently trading at 32045.79, down by 227.88 points or 0.71% after trading in a range of 31915.20 and 32354.77. There were 6 stocks advancing against 25 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 1.02%, while Small cap index was down by 1.11%.

The CNX Nifty is currently trading at 9989.00, down by 68.40 points or 0.68% after trading in a range of 9947.00 and 10083.80. There were 11 stocks advancing against 40 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

DBL

578.55

7.55

Edelweiss

243.70

6.23

Hindalco

239.00

4.99

MRPL

137.85

4.51

Group ATopLosers

 

 

Hdil

64.75

-6.70

Unitech

8.30

-6.21

JPassociat

27.25

-6.03

Sparc

367.80

-3.98

 

 

 

Technical view: Nifty finds support around 10000 while 10100 will act as resistance on the upside. Bank Nifty also faces resistance around 25100 while 24750 will act as support on the downside.

 

 

RadicoKhaitan (Buy Above 152 with SL at 149 for Target of 159): After consolidating for past three trading sessions, the stock has broken out from a Flag Pattern on the lower time frame charts. The price has rallied smartly backed by sharp rise in traded volumes. Other momentum oscillators also indicate that the current upswing is likely to extend.    

Economy Snippets:

The Finance Ministry has turned down the Commerce Ministry’s pitch for a reduction in import duty on gold, citing improved data in respect of the current account deficit (CAD), official sources said.

India may impose anti—dumping duty of up to $ 452.33 per tonne on a certain variety of Chinese pneumatic radial tyres to guard domestic players from cheap imports. (HBL)

SUVs, mid-sized, large and luxury cars that had become cheaper after GST rollout on July 1 will cost more as the GST Council has approved a proposal to hike cess on them to 25%, from 15% now.

The country's 12 major ports saw their cargo traffic go up by 4.13% to 221.95 MT in April-July period of the ongoing fiscal, riding on the back of surge in demand, according to data from ports' body IPA.

 

Nifty Movers: The top gainers on Nifty were Hindalco up by 4.28%, Vedanta up by 3.89%, Tata Steel up by 3.52%, Hindustan Unilever up by 1.07% and Bajaj Auto up by 0.72%. On the flip side, BhartiInfratel down by 3.62%, BPCL down by 3.34%, Indian Oil down by 3.21%, SBI down by 2.17% and ONGC down by 1.90% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 2.17% and Basic Materials up by 0.49%, while Realty down by 2.33%, Oil & Gas down by 2.03%, PSU down by 1.78%, Energy down by 1.64% and Power down by 1.50% were the losing indices on BSE.

 

 

 

On the global front:On the global front, Asian markets were trading mostly in green, while Shanghai Composite was down as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth. China’s exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programs.

 

Global Signals:The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.25 points or 0.01% to 1,778.16, KOSPI Index increased 1.84 points or 0.08% to 2,400.59, Jakarta Composite increased 29.69 points or 0.52% to 5,778.98 and Hang Seng increased 43.03 points or 0.16% to 27,733.39.On the other hand, Nikkei 225 decreased 66.64 points or 0.33% to 19,989.25, Taiwan Weighted decreased 9.12 points or 0.09% to 10,570.26 and Shanghai Composite decreased 5.07 points or 0.15% to 3,274.39.

.

 

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US indices close at record high for another day as US Dollar falls further with bond yields hitting 2.24%. Nasdaq sees correction as stock rotation out of technology and into industrial continues.

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Indian Indices:Asian stocks opened flat to mildly negative as news of fresh probe into President Trump's Russia links saw markets turn cautious. Fresh weakness in the US Dollar also saw the Japanese yen hit 109.5, which would further hit exporter stocks in the Japanese market.   

Nifty saw a correction led by banks as markets witnessed selling emanate for the first time on good news post the RBI rate cut. The undertone was cautious with Bank Nifty seeing the first 1.5% correction in the last 4 months. For today weekend blues would see range bound trade as investors buy Auto and FMCG stocks while selling may continue in Banks and Pharma. 

The BSE Sensex is currently trading at 32118.74, down by 119.14 points or 0.37% after trading in a range of 32107.99 and 32252.45. There were 13 stocks advancing against 18 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 0.36%, while Small cap index was down by 0.22%.

The CNX Nifty is currently trading at 9995.30, down by 18.35 points or 0.18% after trading in a range of 9991.10 and 10026.80. There were 28 stocks advancing against 23 stocks declining on the index. MARKET INDICATORS

Group ATopGainers

Company Price (Rs) % chg

Titan 610.00 9.41

Unitech 7.96 6.28

IOC 405.40 4.78

Repcohom 759.45 3.18

Group ATopLosers

Ceatltd 1774.85 -6.70

HDIL 78.15 -6.35

Biocon 354.30 -5.60

Hcc 39.25 -4.15


Technical view: Nifty now will see support around 10000 and 9980 on the downside while 10050 will act as resistance on the upside. Bank Nifty also finds strong support around 24500 while 24800 will act as strong resistance on the upside.

Bank of Baroda Aug Futs (Sell Below 158 with Stop Loss at 161 for Target of 152): The stock has been consolidating from the past four weeks and has finally broken down from a Rectangle pattern on the daily chart. Bank of Baroda has once again convincingly slipped below its long term 200-DMA, which further accentuates our short term bearish stance on the stock. Other oscillators also indicate that current weakness is likely to extend. 

Economy Snippets:

The LokSabha gave its nod for a Bill to replace the NPA Ordinance promulgated on May 7 this year.  FM ArunJaitley indicated that there could be scope for rationalisation of rates under the Goods and Services Tax (GST) as its implementation progresses. (ET)

The Nikkei India Services Purchasing Managers’ Index (PMI), a pointer to services output on a monthly basis, plunged to 45.9 in July, the lowest since September 2013, from June’s eight-month high of 53.1. (FE)

The government has taken further steps to gradually reduce subsidy on kerosene, continuing the series of market-oriented reforms that have galvanised the petroleum sector and attracted big-ticket investment after an era of excessive controls, controversies and untargeted subsidies that made it difficult for private companies to operate. 

Nifty Movers:  The top gainers on Nifty were Indian Oil up by 4.07%, Vedanta up by 1.84%, Tata Steel up by 1.39%, Hindustan Unilever up by 1.25% and Hindalco up by 1.18%.  On the flip side, Sun Pharma down by 2.37%, Tata Power down by 2.24%, Dr. Reddy’s Lab down by 2.01%, AurobindoPharma down by 1.93% and Bosch down by 1.85% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Consumer Durables up by 3.61%, Metal up by 0.78%, Basic Materials up by 0.38%, PSU up by 0.29% and IT up by 0.15%, while Healthcare down by 1.53%, Telecom down by 1.05%, Energy down by 0.80%, Power down by 0.40% and Capital Goods down by 0.38% were the losing indices on BSE.






On the global front:On the global front, Asian markets were trading mostly in green. A flurry of data in coming weeks should show steady growth in China in July, though the potential for increased trade friction with the United States poses a risk to the world’s second-largest economy as it navigates a tighter policy environment.

Global Signals: The Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 0.07 points or 0% to 1,771.97, KOSPI Index increased 9.04 points or 0.38% to 2,395.89, Shanghai Composite increased 10.58 points or 0.32% to 3,283.51, Jakarta Composite increased 10.88 points or 0.19% to 5,791.45, Hang Seng increased 11.4 points or 0.04% to 27,542.41 and Taiwan Weighted increased 26.92 points or 0.26% to 10,496.80.On the other hand, Nikkei 225 decreased 56.28 points or 0.28% to 19,972.98.

.

O


Post market Stock report 03-Aug-2017

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Major headlines

·         Jindal Saw Quaterly result net profit down 2.65% at Rs 64.04 cr

·         RBI sets rupee reference rate at 63.6314 against dollar

CIL likely to offer about 138 mt of coal in various e-auctions in FY18

Weekly Nifty Trading View for the Week July 31, 2017- August 06, 2017

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Events to watch this week

  • US growth sees modest Q2 bounce-back

  • Fed: Balance sheet run off to commence “relatively soon”

  • IMF lowers US growth outlook, raises others'

  • US Senate debates Obamacare changes

  • Abe’s support slides as scandals mount

  • Trump backs corporate, middle-class tax cuts

The Week ahead:

Date

Country/Area

Release/Event

Mon, 31 Jul

Japan

Industrial production

Mon, 31 Jul

China

Non-manufacturing purchasing managers' index

Mon, 31 Jul

eurozone

Unemployment report, consumer price index

Tue, 1 Aug

Global

Manufacturing purchasing managers’ indices

Tue, 1 Aug

eurozone

Q2 preliminary gross domestic product

Tue, 1 Aug

United States

Personal income, spending, personal consumption expenditures

 Thu, 3 Aug

Global

Non-manufacturing purchasing managers indices

For the week,Global equities rose a touch this week, with major US indices once again setting new highs. The yield on the US 10-year note rose six basis points to 2.30% on the week while the price of West Texas Intermediate crude oil rose over $3 a barrel to $49.65. Volatility, as measured by the Chicago Board Options Exchange Volatility Index (VIX), rose to 11.00 from 9.9 a week ago.

NIFTY- 10,014.50
CRUDE OIL-Rs 3192barrel
GOLD-Rs 28,580gram
Rs/$-Rs 64.15

MARKET ROUND UP 
Market registered modest gains on positive global cues. The Nifty breached the psychologically important 10,000-mark for the first time. Both the Sensex, and the Nifty, attained record high levels. A bout of volatility was witnessed as traders rolled over positions in the futures & options (F&O) segment from July 2017 series to August 2017 series. The July 2017 derivatives contract expired on Thursday, 27 July 2017. 

Overseas, US Federal Reserve kept its benchmark interest rate unchanged after the conclusion of a two-day policy meeting on Wednesday, 26 July 2017. The Fed gave no clear signal about the chances for another increase this year or about any concerns about low inflation. But the central bank did confirm that it plans to begin to reduce its massive bond holdings relatively soon. The Fed had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting. 
Back home, the Sensex rose 280.99 points or 0.88% to settle at 32,309.88 in the week ended 28 July 2017. The Nifty 50 index advanced 99.25 points or 1% to settle at 10,014.50. Broader market trailed large caps. The S&P BSE Mid-Cap index jumped 0.95%. The S&P BSE Small-Cap index rose 0.49%. Both these indices underperformed the Sensex. 

Macro Economic Front: 
On the Economic Front,the International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) report on Monday, 24 July 2017, said that growth in India is expected to pick up further in 2017 and 2018 with global economic recovery remaining on track on the back of better performing emerging economies. IMF projects India to grow at 7.7% in 2018, estimating a significant increase against the backdrop of ongoing economic reforms. The IMF estimates a global growth rate of 3.5% this year, which is projected to increase to 3.6% in 2018. 

In a key political development, Nitish Kumar formed new government in Bihar with the BharatiyaJanata Party (BJP). He took oath as Chief Minister of Bihar at 10:00 IST on Thursday, 27 July 2017. With oath Nitish Kumar ended his party, JDU's mahagathbandhan or Grand Alliance with LaluYadav's RJD and the Congress last evening and joined hands with his former partner BJP. 

Major Action &Announcement:
HDFC's net profit fell 16.84% to Rs 1555.74 crore on 3% fall in total income to Rs 8141.76 crore in Q1 June 2017 over Q1 June 2016. The company announced its Q1 results during market hours on Wednesday, 26 July 2017. HDFC's board of directors at its meeting held on 26 July 2017, approved issue of secured, redeemable, non convertible debentures aggregating Rs 35000 crore on private placement basis. 

HDFC Bank rose 4.26% to Rs 1,775.90 after net profit rose 20.22% to Rs 3893.84 crore on 14.81% growth in total income to Rs 22185.4 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours on Monday, 24 July 2017. 

State Bank of India gained 3.05% to Rs 299.20. The bank announced on Wednesday, 26 July 2017, that its executive committee of the central board approved extension of validity period to raise the remaining additional tier I capital to the tune of Rs 2000 crore till 31 March 2018 and accordingly authorized bank to raise uptoRs 2000 crore additional tier I capital, by way of issue of Basel III compliant perpetual debt instruments in dollar and/or rupee, at par, through private placement to overseas and/or Indian investors. 

ICICI Bank lost 1.73% to Rs 296 after net profit fell 8.21% to Rs 2049 crore on 0.52% growth in total income to Rs 16847.04 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Thursday, 27 July 2017. 

Axis Bank lost 4.66% to Rs 515. The bank's net profit fell 16.07% to Rs 1305.60 crore on 1.44% growth in total income to Rs 14052.30 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Tuesday, 25 July 2017. 

Axis Bank's gross non-performing assets (NPAs) stood at Rs 22030.87 crore as on 30 June 2017 as against Rs 21280.48 crore as on 31 March 2017 and Rs 9553.17 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 5.03% as on 30 June 2017 as against 5.04% as on 31 March 2017 and 2.54% as on 30 June 2016. 

Maruti Suzuki India's operating EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.3% to Rs 2331.20crore in Q1 June 2017 over Q1 June 2016. Sales volume rose 13.2% to 3.94 lakh vehicles in Q1 June 2017 over Q1 June 2016. 

Cigarette major ITC rose 0.95% to Rs 291.25 after net profit rose 7.4% to Rs 2561 crore on 4.3% growth in gross revenue to Rs 13722 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Thursday, 27 July 2017. 

Global Front: 
In Overseas Markets,China will unveil manufacturing PMI data for July on Sunday, 30 July 2017. Eurozone consumer price index (CPI) data for July will be unveiled on Monday, 31 July 2017. US pending home sales data for June will be unveiled on Monday, 31 July 2017. US ADP non-farm employment change data for July will be unveiled on Wednesday, 2 August 2017. US ISM non-manufacturing PMI data for July will be unveiled on Thursday, 3 August 2017. US Non-farm Payrolls data for May will be unveiled on Friday, 4 August 2017. US Unemployment Rate data for July will be unveiled on Friday, 4 August 2017. 

Global Economic News:

US GDP rebounds from sluggish start to year
US economic growth accelerated in the second quarter, rising 2.6%, up from the first quarter’s 1.2% pace. Economists had expected a slightly stronger rebound, and the bounce is well short of expectations from earlier in the quarter. Wage pressures remain muted as hopes for sustained faster growth fade, given that pro-growth policies from Washington are looking less likely by the day. Modest growth averaging around 2% looks to be in the cards again in 2017. This should keep the US Federal Reserve on a gradual rate-hiking path.

Fed signals it’s ready to cut balance sheet soon
In a statement released after Wednesday’s Federal Open Market Committee meeting, the Fed indicated it is ready to begin trimming its balance sheet, which mushroomed in the wake of the global financial crisis. In a statement, the Fed said it expects to begin allowing some of its bond holdings to mature “relatively soon.” This is a shift from earlier language, released after the June FOMC meeting, that indicated a move by the end of the year. Many expect an announcement to come at the September FOMC meeting. The Fed held rates steady while acknowledging that inflation is running below its 2% target.

US health care push fizzles
Despite their effort being pronounced dead on several occasions, US Senate Republicans took up health care reform again this week after a dramatic return to the Capitol by Senator John McCain, who was recently diagnosed with brain cancer. Vice President Mike Pence broke a 50–50 tie to allow the Senate to begin debate on several Republican-sponsored legislative options. Ironically, McCain helped scuttle the final alternative, a “skinny repeal” bill that would have ended Obamacare’s individual mandate, among other provisions. Now that the health care bill has been defeated, Senate leaders hope to move on to tax reform and to passing a spending bill in order to avoid a government shutdown at the end of September.

Trump talks taxes
Amid a swirl of controversy, US president Donald Trump, in an interview with the Wall Street Journal this week, reiterated his desire to slash the US corporate tax rate to 15% from 35% while lowering the tax burden on the middle class. Additionally, Trump kept open the option of raising taxes on upper-income earners. The president did not rule out reappointing Fed chair Janet Yellen, but said that economic advisor Gary Cohn, former president of Goldman Sachs, is also under consideration for the post. In a press release on tax reform on Thursday, congressional leaders and administration officials agreed to table the border-adjustment tax that would have taxed US imports.  

Moody’s sees less China bank risk
Credit rating agency Moody’s has upgraded its outlook on the Chinese banking system to stable from negative. Moody's sees receding concerns over China’s massive shadow banking sector following action from regulators to curb systemic imbalances. It also expects nonperforming loans to stabilize near current levels.

GLOBAL CORPORATE NEWS

According to Thomson Reuters I/E/B/S, with 48% of the members of the S&P 500 Index reporting, second-quarter earnings are expected to rise 10.7% versus Q2 2016. Excluding the energy sector, the rise is 8%. Revenues are expected to climb 4.9%. Excluding energy, a 4.1% earnings rise is expected.


Greece returns to bond market after three-year hiatus
Having recently secured another bailout tranche from European creditors, Greece returned to the bond markets with a €3 billion five-year offering, which was more than two times oversubscribed. Greece is the rare sovereign that issues sovereign debt at a higher yield than some Greek corporates. The new issue yields 4.65% versus some recently issued corporate debt with a 3.1% yield. The extra yield reflects the political risk posed by Greece’s relatively market-unfriendly Syriza government.

NEW 52-WEEK HIGH BSE (A):

ADANIPORTS

398.40

ASHOKLEY

109.85

BRITANNIA

3925.00

NEW 52-WEEK LOWS BSE (A):


AJANTAPHARM

1393.75

MAJOR WEEKLY GAINERS IN BSE A CATEGORY(%):


GET&D INDIA

21.04

YES BANK

16.80

SUN PHARMA

13.71

MAJOR WEEKLY LOSERS IN BSE A CATEGORY:


SREI INFRA

-13.23

LAKSHMI VILAS

-11.95

DR. REDDY

-10.79


Eyes will be set on the certain US economic data releases are:
Monday (31July)
Pending Home Sales Index 
Tuesday (01 August)
PMI Manufacturing Index 
Wednesday (02 August)
MBA Mortagage Applications
Thursday (03 August)
Jobless Claims & Factory Orders
Friday (04 August)
Employment Situation

TechnicalPick of the week:

Buy ACC Ltd For Target Rs.1,810.00

STOCK IN FOCUS 
* ACC Ltd is in the strong up-trend as the stock price reversed after taking support of 38.2% Fibonacci Retracement level of prior upmove (Rs1531-1597) and rose to seven day closing high.
* Rise in Stochastic post positive cross-over and reversal in RSI from sub-60 mark is also signaling strength in the stock.
* As per the current daily set-up, we believe that ACC Ltd will keep moving higher and soon record new life-time-high.
* In case of any negative surprise, the stock will find support around Rs1680, which is coinciding with the prior swing low and its shortterm moving average 20-day EMA.
* Thus, long position can be initiated at Rs1715 for the target of Rs1810 and with a strict stop loss of Rs1680.

MARKET OUTLOOK
The market does appear to get a dizzy at heights and the late sell-off had a lot to do with the F&O expiry. While market-wide rollovers were in line with three-month average, Nifty rollovers were relatively lower than the previous three series. Nifty Open Interest is also at a calendar-year low as foreign investors The outlook is a subdued start. Global cues are mixed. While the Dow gained, the S&P and Nasdaq settled lower. Quarterly results are bringing in some swings and for the day numbers of Larsen & Toubro, Escorts and India Cements are scheduled. Investors will prefer to wait and watch before taking the plunge as the RBI policy meet takes place next week. The mid-cap segment, which has been defying gravity continues to soar higher.  

Other technical observations 
Nifty did gave long entry to Chopad Followers as we made high of 9919 and did 2 target on upside and close above 10000.  Lets see How to trade Nifty in coming week as we approach the Monthly/RBI Policy and volatile time cycle from 31 Jul to 07 Aug.All target done on upside, for coming week above 10025 we can see fast move towards 10115/10157. Bearish below 9930 for a move towards 9877/9792.

Conclusion: 
Yet another chartbuster week for the Indian equity markets as Nifty scaled past the 10000 milestone while Bank Nifty zoomed past the 25000 mark for the first time ever. Various government reforms, strengthening economy, chasing liquidity and cues from the US markets hitting fresh life-time highs have all fuelled the ongoing rally. Highlight of the week was sharp rally in HDFC, HDFC Bank, Yes Bank which gained 4-16% on decent set of results. From June lows of 9448, Nifty has rallied consecutively for the past four weeks gaining over 650 points or 7%. For the week, NSE Nifty and BSE Sensex gained by 1% each. 
Besides, ongoing results season continued its impact on the market sentiment. Reliance Industries started off the week with a bang followed by decent numbers by Yes Bank and Hero MotoCorp. On the other hand, Dr Reddy’s Labs came out with dismal earnings; ONGC and ICICI Bank were a mixed bag. Furthermore, market-wide rollovers into August were just a little below average.

US indices see huge intraday volatility as 'vertigo' effect at new highs causes pessimism. US Dollar rebounds even as VIX (volatility index) rises after many days as Amazon results trigger weakness.

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Indian Indices: Asian indices opened weak after seeing huge intraday volatility in the US indices with tech stocks leading a mini selloff. Expect profit booking to be the key for today as most markets digest the smart gains clocked in the month of July.


Nifty hit fresh intraday highs but profit booking and expiry related pressure saw the index give up all gains to close flat. The relentless rise in the index saw the July series see over 5% gains for the Nifty. Traders were seen piling up position in Consumer Durables and Utilities stocks, while selling was witnessed in Healthcare, Telecom and Metal sector stocks. In scrip specific development, Zenotech Laboratories was trading in green after Sun Pharmaceutical Industries raised its stake in the company to over 50 percent.


For today expect profit booking above 10000 as markets assimilate the gains clocked in the month of July. 

The BSE Sensex is currently trading at 32210.81, down by 172.49 points or 0.53% after trading in a range of 32164.16 and 32381.36. There were 7 stocks advancing against 24 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.25%, while Small cap index was up by 0.32%.

The CNX Nifty is currently trading at 9985.10, down by 35.45 points or 0.35% after trading in a range of 9963.05 and 9999.35. There were 19 stocks advancing against 32 stocks declining on the index.

MARKET INDICATORS

·           

 

Group ATopGainers

 

 

Company

Price (Rs)

% chg

Relcapital

705.40

7.02

Jswenergy

70.10

4.71

Laxmimach

5771.35

4.49

Religare

106.00

4.43

Group ATopLosers

 

 

Drreddy

2481.45

-5.34

Lupin

1065.35

-4.12

Biocon

387.70

-2.86

Sunpharma

557.70

-2.69

INDEX PERFORMANCE

 

 

Indices

Support

Resistanes

Sensex

32225

32535

Nifty

9950

10045

 

Technical view: Nifty finds resistance around 10115 which was yesterday's high while 9950 will act as strong support on the downside. Bank Nifty also finds resistance around 25050 while 24850 will act as support.


 

‘July’ RolloverSnippets          

Markets were on a hot streak in July F&O series. Global cues are conducive as well as local sentiments are at all time high which has led the market to continue its dream run and cross new milestones on daily basis. Short covering was observed across the high Beta stocks as the government had issued a circular that prohibits p-notes from taking any unhedged derivative exposure in the Indian market.

Nifty and Bank Nifty crossed its lifetime high and closed above 10000/24900 on EoE basis for the first time ever. Bank Nifty Index outperformed Nifty Index by ~1.9% as the call option writers in both the indices were taken for a toss during the entire series. Huge build-up of long positions in index future contracts along with short covering in OTM Nifty and Bank Nifty call option strikes propelled markets to a newer height. Long gamma positions were the flavor of the series.

DII's & FII's continued its buying spree posting a buying figure to the tune of ~Rs 3.2k/1.01k Cr. Rollovers of Nifty/Bank Nifty stood at 68% / 76% (1.72cr/25lakh shares) as against 73% / 69% (2.03 Cr/23 Lakh shares). Rollovers for Nifty and Banknifty were lower in terms of total open interest vis-a-vis last month. Based on analysis of the mentioned data, Nifty/ Bank Nifty can face resistance at the higher levels limiting the upside potential for the markets. India Vix index ended the series on a neutral note. On the options front, July series start with the highest open interest put strike at 9800 strike (3.84mn shares) and maximum call strike at 10000 strike (3.01 mn shares).

Nifty Movers: The top gainers on Nifty were HDFC up by 1.89%, Yes Bank up by 1.58%, GAIL India up by 1.56%, Adani Ports & Special Economic Zone up by 1.26% and Indiabulls Housing up by 1.10%. On the flip side, Dr. Reddy’s Lab down by 5.53%, Lupin down by 3.53%, Sun Pharma down by 2.58%, ICICI Bank down by 2.29% and Hindustan Unilever down by 2.13% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Consumer Durables up by 0.48% and Utilities up by 0.03%, while Healthcare down by 1.67%, Telecom down by 0.96%, Metal down by 0.91%, TECK down by 0.64% and IT down by 0.61% were the losing indices on BSE.

 

 

On the global front: On the global front, Asian markets were trading in red, as investors looked ahead to more corporate earnings due during the session and were cautious on the dollar. China’s registered urban unemployment rate stayed below 4 percent for the second consecutive quarter as the world’s No. 2 economy maintained a robust growth trajectory in 2017’s first half.

Global Signals:The Asian markets were trading in red; Hang Seng decreased 174.83 points or 0.64% to 26,956.34, Nikkei 225 decreased 125.89 points or 0.63% to 19,953.75, Taiwan Weighted decreased 96.84 points or 0.92% to 10,411.53, KOSPI Index decreased 37.64 points or 1.54% to 2,405.60, Jakarta Composite decreased 10.86 points or 0.19% to 5,808.88, Shanghai Composite decreased 2.04 points or 0.06% to 3,247.74 and FTSE Bursa Malaysia KLCI decreased 0.76 points or 0.04% to 1,769.31.

 

SENSEX ERASES ALL GAINS, NIFTY CLOSES FLAT BUT ABOVE 10K: HDFC TWINS GAIN DRL TANKS

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Indian Indices: Indian equity benchmarks came off day’s highs but trade continued on strong note in late afternoon session with gains of half a per cent each. Buying in Utilities, Banking and FMCG stocks aided the markets, while the broader indices failed to hold the rally and slipped into negative territory.

 Traders took some support with the private report that the Reserve Bank is expected to go for a 25 basis points (bps) repo rate cut in its policy review meet on August 2 as inflation is likely to have reached a new normal of 4 percent. Banking shares were trading higher despite Moody’s latest report that India's banking system remain most vulnerable among South and Southeast Asia, revising the outlook on several Indian banks to stable or negative from positive. 

However, some profit booking ahead of the derivatives expiry of the July series pared some gains.Moody’s also signalled lowered government support to some extent as it appeared reluctant to increase capital injections into the PSU banks, despite the limited ability of these to access equity markets for the much-needed capital. Indian PSBs have experienced significant asset quality problems and capital shortages over the last three years.

The BSE Sensex is currently trading at 32543.19, up by 160.73 points or 0.50% after trading in a range of 32473.12 and 32672.66. There were 12 stocks advancing against 19 stocks declining on the index.The broader indices were trading in red; the BSE Mid cap index was down by 0.22%, while Small cap index was down by 0.46%.

The CNX Nifty is currently trading at 10074.50, up by 53.85 points or 0.54% after trading in a range of 10052.35 and 10114.85. There were 23 stocks advancing against 28 stocks declining on the index.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

HDFC

1728.50

5.83

Godrejcp

1078.30

5.21

Yesbank

1786.75

4.33

GRUH

478.05

4.33

Losers

 

 

Renuka

20.29

-6.45

Lakshvilas

183.35

-6.02

Sreinfra

124.30

-3.42

Orientbank

151.60

-3.35

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

32,383.30

0.84

Nifty

10,020.55

-0.10

Crporate Front: Battery manufacturer Exide Industries today reported a 3.59 per cent decline in net profit at Rs 189 crore for the quarter ended June. It had posted a net profit of Rs 196.05 crore in the corresponding period a year ago, the company said in a filing to the Bombay Stock Exchange. Total income grew by 4.80 per cent to Rs 2,389.57 crore during the quarter under review as against Rs 2,279.93 crore in the year-ago period, Exide Industries said in a BSE filing.

 

Macroeconomic front: An official release said that JDI was concluded on May 30 in Berlin during the fourth Inter-Governmental Consultations between India and Germany between Prime Minister Modi and German Chancellor Angela Merkel to to promote cooperation between German and Indian scientists on fundamental and applied scientific research. It includes areas such as policy support, teaching, training and dissemination of information in the area of sustainable development and climate change through inter-disciplinary/trans-disciplinary research.

 

On the global front: On the global front, European Markets were trading mixed after the US Federal Reserve kept interest rates unchanged and investors reacted to a slew of earnings reports. Asian markets were trading in green. Back home, in scrip specific development, Tamil Nadu Newsprint & Papers (TNPL) was trading jubilantly after the company resumed normal production / operation in the plant from July 27, 2017, pursuant to availability of water.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28536.00

0.54

Silver

38530.00

1.15

Crude oil

3137.00

0.16

Natural Gas

187.10

-0.32

Alluminium

123.75

0.16

Copper

409.65

0.38

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Bankex up by 1.10%, Utilities up by 0.28%, FMCG up by 0.27%, Oil & Gas up by 0.06%, and PSU up by 0.02%, while Telecom down by 2.03%, TECK down by 1.15%, IT down by 1.10%, Consumer Durables down by 0.96% and Metal down by 0.73% were the top losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were HDFC up by 6.11%, Yes Bank up by 4.48%, HDFC Bank up by 2.45%, Indusind Bank up by 2.39% and ACC up by 2.15%. On the flip side, BhartiAirtel down by 3.18%, Tata Motors - DVR down by 2.59%, TCS down by 2.29%, Tech Mahindra down by 2.03% and Tata Motors down by 1.80% were the top losers.

 

Global Signals:

All Asian markets were trading in green; Shanghai Composite increased 2.11 points or 0.06% to 3,249.78, FTSE Bursa Malaysia KLCI increased 3.27 points or 0.19% to 1,769.27, KOSPI Index increased 8.73 points or 0.36% to 2,443.24, Jakarta Composite increased 9.81 points or 0.17% to 5,810.02, Nikkei 225 increased 29.48 points or 0.15% to 20,079.64, Taiwan Weighted increased 89.26 points or 0.86% to 10,508.37 and Hang Seng increased 190.15 points or 0.71% to 27,131.17.

European markets were trading mixed; France’s CAC increased 17.65 points or 0.34% to 5,207.82. On the flip side, Germany’s DAX decreased 45.88 points or 0.37% to 12,259.23 and UK’s FTSE 100 decreased 1.13 points or 0.02% to 7,451.19.

 

 

Persistent System-Research Report-Sharetipsinfo

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Company Overview:

Established in 1990, Persistent Systems (BSE & NSE: PERSISTENT) is a global company specializing in software product development services.  For more than two decades, Persistent has been an innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. With a global team of 6,600+ employees, Persistent has 350+ customers spread across North America, Europe, and Asia. Today, Persistent focuses on developing best-in-class solutions in four key next-generation technology areas: Cloud Computing, Mobility, BI & Analytics, Collaboration across technology, telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals.

Business Growth Outlook

The PSL management expects Q4FY2017 to be strong, as it has acquired new logos for its digital business. Further, the recent partnership with Dell Boomi will drive its digital business going ahead.  The company has successfully completed the transition of the IBM IOT business and could be able to take the entire team into its Board. The management foresees traction in this IBM CE/CLM product and expects a strong growth in FY2018; for the nine months ended December 31, 2016, the partnership has fallen short of its revenue target of $50 million (contributed $48 million; the management expects some contribution to come by the end of FY2017).  Digital, Alliance and Accelerite will continue to deliver sustainable growth in the coming years. The management stated that the Services segment (43.9% of total revenue in Q3FY2017) has bottomed out and believes this business may do well in the coming quarters (for Q4FY2017, the management has indicated it could trim some tail-end clients).

Key Points:

Persistent Systems (PSL) delivered better-than-expected revenue growth of 3.6% QoQ at $113 million during Q1FY2018, led by a 2.4% QoQ growth in IP-led revenue and a 3.6% QoQ growth (1.8% QoQ growth in volume and 2.2% QoQ increase in realisations) in IT Services. However, the company delivered lower-than-expected EBITDA margin at 14.3% (down 357BPS QoQ), due to the appreciation of the rupee (120BPS), higher onsite revenue mix, investments in partnerships (90BPS), lower offshore utilisations (40BPS), visa and acquisition expenses (70BPS), investments in sales team (30BPS) and provision of debts (40BPS), partially offset by higher revenue from IP-Led business. Forex gains increased to Rs 18.5 crore (vs negative Rs 2.8 crore in Q4FY2017), resulting in a 3.2% QoQ growth in the adjusted net profit at Rs75.1 crore.

Revenue drivers are intact, but margins to improve gradually:

The management remains optimistic on the prospects of acceleration of its revenue growth going ahead. This is on the back of strong traction in the IOT business, a healthy pipeline of deals in the digital space, deal closures of the reseller contract for IBM IOT solutions, good response for its IP products and strengthening of partnerships with USAA and Partners Healthcare for digital offerings. Further, the company has closed three deals (one deal in India for the legislative assembly of the State of Madhya Pradesh and two deals in USA) in the Service vertical, which is expected to sustain the growth momentum. The management believes that the traction in growth in the service segment will be mainly on account of its strong focus on large and strategic accounts as well as higher adoption of digital technologies in the Enterprise. On margin front, It expects improvement from Q2FY18 onwards despite high investments in sales team, higher onsite mix and developing global delivery centres. The management highlighted the key levers for the margins improvement are (1) higher revenue from IP-Led business, (2) improvement in profitability in IBM Watson, (3) cost control measures.

Acquisition of PARX to strengthen its presence in Europe:

PSL has agreed to acquire ParxWerk AG to strengthen its presence in the European region (5.9% of total revenue as of June 30, 2017) as part of its global expansion strategies. PSL will initially pay CHF 8.5 million (~Rs 58 crore) and will pay an additional CHF 7.5 million (Rs 51 crore) over three years depending on performance. PARX reported revenue of CHF 8 million (~Rs 54 crore) for CY2016. As Parx is a certified partner of Salesforce, we believe this acquisition would provide opportunities to PSL to cross-sell its products.

Outlook and valuation:

We have tweaked estimates for FY2018/FY2019 due to below-than-expected Q1FY18 margin performance and higher onsite mix. We believe there could be pressure to profitability in near-term owing to currency headwinds, shifting from effort-based business model and macro uncertainties. In long term, however, we continue to remain positive on PSL, as the company has been continuously focusing on strengthening its digital capabilities to remain relevant to customers in the ongoing IT industry transition. PSL’s stock price has already gained close to 16% in last three months, we do not see major upside from current levels owing to weak margin performance. Hence, we downgrade our rating on PSL from ‘Buy’ and ‘Hold’ with a target of Rs700.

SENSEX ENDS AT RECORD HIGH NIFTY CLOSES ABOVE 10K FOR FIRST TIME EVER

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Indian Indices: Indian equity benchmarks traded range-bound in late afternoon session, with Nifty trading around 10,000 mark. Buying in Metal, Realty and Energy stocks along with better earnings result, kept the markets up. Sentiments remained upbeat with report that the government approved an addition of 7.47 lakh new registration applications under the Goods and Services Tax (GST) regime. 

Besides, the report stating that a team of officers, led by the commerce secretary, is holding detailed consultations with states to clear the bottlenecks that are hampering exports, also added some optimism. 

However, traders remained on sidelines ahead of the July derivatives contract expiry tomorrow and the outcome from the Federal Reserve meet later in the day.Gangwar further said that the GST would positively impact the country’s business environment and help the domestic sectors become more competitive.The Minister of State for Finance also said that following the GST implementation, the government will soon come up with an anti-profiteering authority which will help to ensure the benefit of tax reduction is passed on to consumers.

The BSE Sensex is currently closed at 32,382.46 up by 154.19 points or 0.48% after trading in a range of 32226.08 and 32413.63. There were 24 stocks advancing against 7 stocks declining on the index.The broader indices were trading in green; the BSE Mid cap index was up by 0.17%, while Small cap index was up by 0.34%.

The CNX Nifty is currently shut up at 10020, up by 56.10 points or 0.56% after trading in a range of 9965.95 and 10010.80.

MARKET INDICATORS

·           

 

Top Movers (Group A)

 

 

Company

Cmp

% chg

Gainers

 

 

Get&D

392.90

19.99

Sparc

359.85

9.18

Jindalstel

151.55

8.37

MMTC

61.60

6.39

Losers

 

 

Renuka

20.29

-6.45

Lakshvilas

183.35

-6.02

Sreinfra

124.30

-3.42

Orientbank

151.60

-3.35

INDEX PERFORANCE

 

 

Index

Close

% Chg

Sensex

32,382.46

0.48

Nifty

10,020.65

0.56

 

Crporate Front:The Goa Government has said that the first phase of Goa's upcoming Mopa international airport will be operational by May 2020. Commenting on the issue, Chief Minister ManoharParrikar told the media, "GMR Goa International Airport Limited (GGIAL) has already started pre-construction work and, as per concession agreement.


 

Macroeconomic front: Leading bourse Bombay Stock Exchange said that it has joined hands with Egyptian Exchange (EGX) for cooperation in exchange of information across business areas. In a statement, EGX Executive Chairman Mohamed Omran said that the exchange aims to cross list and trade securities that would provide new investment alternatives to investors in both markets.

On the global front: On the global front, European markets were trading in green as investors geared up for a rate decision from the US Federal Reserve and continued to digest earnings reports. Asian markets were also trading in green. Back home, in scrip specific development, Indraprastha Gas (IGL) gained after the company revised the selling prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in NCT of Delhi, Noida, Greater Noida and Ghaziabad. This step has been taken by the company in order to offset the overall impact on its costs after transition to GST regime.


Commodity Updates:

Commodity Prices (MCX):

Commodity

Rs

% Chang

Gold

28333.00

-0.51

Silver

37984.00

-0.8

Crude oil

3117.00

0.87

Natural Gas

189.70

0.05

Alluminium

123.85

-0.08

Copper

407.50

0.37

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Metal up by 1.69%, Realty up by 0.92%, Energy up by 0.78%, Utilities up by 0.77% and Healthcare up by 0.66%, while Telecom down by 0.51%, TECK down by 0.47% and IT down by 0.30% were the losing indices on BSE.

Top Nifty Movers:The top gainers on Nifty were Vedanta up by 2.75%, Tata Steel up by 2.56%, Sun Pharma up by 2.13%, IndusInd Bank up by 2.10% and Eicher Motors up by 1.96%. On the flip side, Axis Bank down by 3.03%, Asian Paints down by 1.75%, Zee Entertainment down by 1.60%, ACC down by 1.47% and HCL Tech. down by 1.23% were the top losers.

 

Global Signals:

Asian markets were trading mostly in green; FTSE Bursa Malaysia KLCI increased 1.36 points or 0.08% to 1,764.70, Shanghai Composite increased 3.99 points or 0.12% to 3,247.68, Hang Seng increased 88.97 points or 0.33% to 26,941.02 and Nikkei 225 increased 94.96 points or 0.48% to 20,050.16. On the flip side, Taiwan Weighted decreased 44.04 points or 0.42% to 10,419.11, Jakarta Composite decreased 22.6 points or 0.39% to 5,790.93 and KOSPI Index decreased 5.39 points or 0.22% to 2,434.51.

All European markets were trading in green; France’s CAC increased 35.27 points or 0.68% to 5,196.35, UK’s FTSE 100 increased 46.83 points or 0.63% to 7,481.65 and Germany’s DAX increased 49.01 points or 0.4% to 12,313.32.

 

 

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