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Market Watch Market View 07 sep 2017

Equity tips:-

NIFTY:-

 

 

  • Nifty finds strong support @ 9861 which was the low for the last 3 days while 9984 will act as Resistance.Bank Nifty also finds strong support around 24200 while 24500 will act as resistance on the upside. Buzzing Stocks Reliance Industries to acquire assets of Kemrock Industries foraying into new materials business. The stock will turn ex-bonus today. The F&O lot size is 1,000. Sagar Cement consolidated production grew 19.9 percent to 1,91,708 Mts while sales grew 15.3% to 1,99,216 Mts. Sasken Technologies received NCLT nod for the merger of Sasken Network Engineering with itself. LIC reduces stake in Raymond by 2.01%. Just Dial new entrant in F&O Ban. NHAI awards Myanmar contract to Punj Lloyd JV. Bharat Forge says North America class 8 truck sales for August at 20,683 units versus 14,078 units last year (18,255 units in July). NBCC won an order worth Rs 464 Cr from the government. HCL Infosystem acquired assets worth 3.25 mn pounds of UK-based Alpha Insight. Petronet LNG will form a JV with Japanese and Sri Lankan companies for terminal. GMO Emerging Markets Quality Fund bought 1.1 Cr shares (0.9% equity) at Rs 23.92 each of Himachal Futuristic. GMO Emerging Domestic Opportunities Fund sold 12.62 lakh shares (1.2% equity) at Rs 219.67 each of Gateway Distriparks. Yes Bank sold 9.55 lakh shares (0.5% equity) at Rs 40.23 each of Religare Enterprises. Broker Radar HSBC on Aurobindo Pharma: Maintain Buy; Cut target price to Rs 850 from Rs 856. Maintained buy on sustained U.S. growth outlook with growth largely driven by injectables. U.S. outlook remains steady with multiple visible launches. Commissioning of new facilities to help in better launch rate. DTG-combination launch and improving margin profile of European Union to support U.S. traction.Injectables sales/overall U.S. sales to grow at CAGR of 29%/13% over FY17-19. Jefferies on Shree Cement: Maintain Hold with target price of Rs 18,109.Company remains on track to reach 40 metric tonne by FY19 end. Management positive on cement demand led by housing and infrastructure. Stock has already priced in benefits. Credit Suisse on Shriram Transport Finance: Maintain Outperform rating with target price of Rs 1,350. No significant update on the proposed merger with IDFC. Management confident on 12-15 percent growth guidance. Company remains a significantly undervalued franchise. JPMorgan on Oil & Gas: Expect the OMC to report strong earnings in Q2FY18; H2FY18 could cool off. Remain overweight on IOCL and BPCL; Underweight on HPCL. RIL should also benefit from the recent surge in refining. Large cut in IUC to benefit RIL’s telecom operations. Credit Suisse on Metals: Iron ore and coking coal prices up 40-45% in last three months due to weather related disruptions. Spike in RM cost accompanied by rising steel prices. Steel stocks appear expensive on price-to-book, but EV per tonne still reasonable. Prefer Tata Steel over JSW Steel on the back of 30percent ore integration. Morgan Stanley on Metals: Coking coal prices expected to remain flat/down marginally by end of Q2FY18. Costs could rise for some companies on higher iron ore prices. JSW Steel to benefit from strength in domestic steel prices and operating efficiencies. Tata Steel remains top pick on improving fundamentals for domestic business. UBS on Telecom Sector: Jio made good progress on distribution. Rate of decline in recharges has slowed since March 2017. Airtel still consumers preferred choice and top recharged brand. Raise Jio’s revenue market share estimates by 30-310 basis points over FY18-22. Idea Cellular target price cut to Rs 95 from Rs 104. Deutsche Bank Markets Research on Telecom Sector: 100% cut in IUC to reduce Airtel/Idea EBITDA by 9%/20%. Airtel/Idea’s IUC revenue at Rs 800/350 crore in Q1FY18, Roadmap for IUC reduction over the next few years would allay investor concerns. DB expects IUC to reduce to 10 paise. CLSA on Indiabulls Housing Finance: Maintain Buy; hike target price to Rs 1,500 from Rs 1,380. Growth will be driven on ability to scale up housing loans. IHFL has strong presence in fast-growing markets (distant suburbs of Mumbai). HSBC on SKF India: Maintain Buy with target price of Rs 2,000; potential upside of 31%. Remote diagnostic and India distribution centre and strong pipeline of innovative products should lead to improved operational performance. SKF gaining market in PV/CV segment and exiting unprofitable two-wheeler segment. Revenue to grow by 11%/19% for FY18/19.

Market News:-

  • Reliance Industries to acquire assets of Kemrock Industries foraying into new materials business. The stock will turn ex-bonus today. The F&O lot size is 1,000. Sagar Cement consolidated production grew 19.9 percent to 1,91,708 Mts while sales grew 15.3% to 1,99,216 Mts. Sasken Technologies received NCLT nod for the merger of Sasken Network Engineering with itself. LIC reduces stake in Raymond by 2.01%. Just Dial new entrant in F&O Ban. NHAI awards Myanmar contract to Punj Lloyd JV. Bharat Forge says North America class 8 truck sales for August at 20,683 units versus 14,078 units last year (18,255 units in July). NBCC won an order worth Rs 464 Cr from the government. HCL Infosystem acquired assets worth 3.25 mn pounds of UK-based Alpha Insight. Petronet LNG will form a JV with Japanese and Sri Lankan companies for terminal. GMO Emerging Markets Quality Fund bought 1.1 Cr shares (0.9% equity) at Rs 23.92 each of Himachal Futuristic. GMO Emerging Domestic Opportunities Fund sold 12.62 lakh shares (1.2% equity) at Rs 219.67 each of Gateway Distriparks. Yes Bank sold 9.55 lakh shares (0.5% equity) at Rs 40.23 each of Religare Enterprises.

Market View: –

  • Nifty finds strong support @ 9861 which was the low for the last 3 days while 9984 will act as Resistance.Bank Nifty also finds strong support around 24200 while 24500 will act as resistance on the upside.

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