Parag Milk Stock Dips 2%

Parag Milk Foods stock slipped 3% after prominent investor Ashish Kacholia reduced stake in the company below 1% in the 3-month period ended September.

Kacholia pared his stake below 1% from 2.02% in April-June, shareholding data of the company showed.

The stock is currently trading at Rs 256, down by Rs 5.95 or 2.27% from its previous closing of Rs 261.95 on the BSE.

The scrip opened at Rs 261.95 and has touched a high and low of Rs 264.25 and Rs 254.9 respectively. The stock is currently trading above its 50 DMA.

The shares of Parag Milk Foods, however, have risen 13.8% in the quarter ended September.

Reliance Capital Stock gains 3.5%

Reliance Capital stock surged 3.5% after its general insurance arm, Reliance General Insurance Co, filed draft initial public offering papers with Securities and Exchange Board of India today.

The offer involves a fresh equity issue by Reliance General Insurance Co of 16.76 mn shares and an offer for sale by Reliance Capital of 50.3 mn shares.

Proceeds from the offer will be utilized for augmenting the solvency margin and consequently increasing solvency ratio, and to meet future capital requirements that are expected to arise out of growth, the general insurance company said.

The stock is currently trading at Rs 571.05, up by Rs 18.8 or 3.4% from its previous closing of Rs 552.25 on the BSE.

The scrip opened at Rs 552.25 and has touched a high and low of Rs 574.2 and Rs 546 respectively. The stock is currently trading below its 50 DMA.

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Rain Industries stock rises 3.5%

Rain Industries Ltd is currently trading at Rs 187.3, up by Rs 6.2 or 3.42% from its previous closing of Rs 181.1 on the BSE. The shares of the Hyderabad-based chemical maker jumped most since September 19, to Rs 192.8 after well-known investor Dolly Khanna raised her stake in the company to 2.04%, according to the BSE data.

Dolly Khanna increased stake in the company from 42.68 lakh shares (1.27%) to 68.77 lakh (2.04%), according to September 2017 filing.

The scrip opened at Rs 181.8 and has touched a high and low of Rs 194.6 and Rs 181.8 respectively. The stock is currently trading above its 50 DMA.

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CH Stock Market Closing Bell 09-October-2017

CH: CLOSING BELL:

NIFTY FUTURE UP 16 @ 10020

BANK NIFTY FUTURE UP 81 @ 24309

SENSEX UP 32 @ 31846

INR 65.39

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Commodities Technical Outlook – October 9

Bullions View 
On Friday, we saw a rally in Bullions post payroll data where gold breached its previous intermediate high of 29,500 while silver broke 39,300 levels suggesting the first sign of a positive reversal in prices. The momentum indicator, RSI has moved above 60 levels on hourly charts, which also gives positive confirmation to the prices. We now expect bullions to rally as long as Friday’s low are protected on downside. Gold can head higher towards 29,700 while silver can move higher towards 40,000 levels in coming trading sessions, however; we might see a range bound trading session in today’s trade due to a bank holiday in the United States.

Energy View   
Crude oil prices moved lower in Friday’s session however it had managed to give close above its support level of 3,235 levels. As long as 3,235 is protected on downside outlook remains positive for an upside target of 3,300 levels while breach of 3,235 can drift prices lower towards 3,165 mark. Natural gas had broken its support level of 190 along with RSI which is below 40 mark. We now expect rally can be used as selling opportunity.

Base Metals View
Metal prices remained volatile in Friday’s session where lead and zinc gave a negative close by more than 1.5% while nickel managed to give a positive close. Zinc had broken its uptrend line support at 215.50 while lead is still trading above its support of 163.80 levels. Aluminium prices are facing problems breaching its resistance of 140.50 levels hence it would be crucial to watch out for that level to break for gaining upside momentum.

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Rupee gains by 10 Paise against US Dollar

The Indian rupee is trading higher by 10 paise due to dollar selling by banks and exporters. Besides, weakening of the US dollar against other currencies overseas strengthened the rupee. Also, a higher opening of the domestic equity market aided the uptrend.

On the global front, Euro is deriving cues from political developments in Spain. Protests have been reported in Barcelona, opposing Catalonian secession. This shows how divided is the province.

Meanwhile, Spanish Prime Minister Rajoy is contemplating at stripping Catalonia’s autonomy and calling for fresh local elections if the leadership pursues independence. Catalan government is expected to address the region’s parliament tomorrow and it needs to be seen whether independence would indeed be declared.

The currency touched a high and low of 65.44 and 65.56 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.22 and for Euro stood at 76.26. While the RBI’s reference rate for the Yen stood at 57.72, the reference rate for the Great Britain Pound (GBP) stood at 85.3112.

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Live Stock Market Updates

The Indian equity market seems to rebound into the green. The Nifty hit its highest intraday level in more than two weeks in morning trade. The Nifty pared gains after crossing the psychologically important 10,000 mark in the morning trade.

At 1:35 PM, the S&P BSE Sensex is trading at 31842, up by 28 points, while NSE Nifty is trading at 9,986 up by 6.7 points.

The BSE Mid-cap Index is trading down 0.05% at 15832 whereas BSE Small-cap Index is trading up by 0.5% at 16727.

Dr Reddy’s, Bajaj Finance, Coal India , Tech Mahindra and Tata Steel are among the gainers, whereas Power Grid, Aurobindo Pharma, GAIL, ONGC, and BPCL are losing sheen on NSE

Nifty PSU Index down nearly 1%. Oriental Bank of Commerce (+3%), Bank of India, Andhra Bank (-2%), IDBI Bank, Canara Bank, BoB (-1%).
JSPL gets Rs 1,121 Cr on divestment of oxygen plant assets at Angul & Raigarh units. Stock zooms 4.5%.

Jewellers stocks gain as norms for buying jewellery above Rs 50,000 relaxed. TBZ, Thangamayil Jewellery (+5%), Titan (+4%), Gitanjali (+3%).

SPARC stock falls 8% most in over two years as phase III study of Baclofen GRS fails to meet end points.

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4 Stocks which can give up to 15% Return

The Indian equity market witnessed a strong comeback after facing headwinds at a lower level. The Nifty50 index made a strong reversal trend in weeks gone by to close above its crucial psychological resistance level placed at 9,950 and closed the session at 9,979 level on positive cues. Despite witnessing a selloff during the opening session of Friday to trade at a lower level, the index rebounded back to keep bulls at upper helm indicating a near-term rally.

On the daily price chart, it made a strong bullish candlestick pattern coupled with index closing above its 20-days EMA.

Here is a list of top four stocks which can give up to 15% upside in the short term:

Bhansali Engineering Polymers:

Bhansali Engineering witnessed a strong uptrend momentum forming a series of rising peaks on its long-term chart. The uptrend move was further hailed with stock marking its life-time high at 114 level but failed to sustain towards the weekend session.

Jindal Steel

The stock rebounded with pace after consolidating at a lower level and started to close at a higher level on daily basis on positive outlook. Further, the momentum was strongly supported by volume breakout coupled with stock breaching its earlier resistance level.

Coal India

After trading on a flat note for several trading session, Coal India formed a reversal trend towards the weekend session on the backdrop of volume growth. The stock formed a bullish trajectory after trading near its lower support placed at the 248-253 level and managed to close above its previous level, indicating a strong breakout towards its 52-week high-level.

Reliance Capital

Reliance Capital continued to face headwinds in its daily price movement after clocking near 52-week high and witnessed a continued free fall to trade at a lower level. The stock remained under pressure and traded at negative trajectory on the backdrop of lower volume support and lost about 8 percent on weekly basis.

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Stocks in the News 09-October-2017

Here are stocks that are in news today:

Reliance Industries

-Reliance sells its assets in the Marcellus Shale Play of North-Eastern And Central Pennsylvania for USD 126 million

-Company had acquired a 60 percent stake in the upstream field in 2010 for USD 392 million as part of a joint venture with Carrizo Oil and Gas, which operated the field

SPARC

-Baclofen GRS did not meet primary end point in placebo controlled studies

-Bacoflen is a muscle relaxer used to treat symptoms caused by Multiple Sclerosis

GST

-Number Of Items In The 28% Tax Slab Being Trimmed By GST Council

-GST Rate On Khakra To Be Cut From 12% To 5%

-Threshold For Composition Scheme Hiked To `1 Cr

Other stocks and sectors in the news today:

-Adani Enterprises announces plans to demerge its renewable energy business into associate company Adani Green Energy as part of simplifying overall business structure

-PNB puts 32 NPAs with unpaid loans of Rs 1,176 crore on block: ET

-GTL Infra lenders try to block Reliance Capital arm’s attempt to buy company: ET

-Jaiprakash Associates to demerge some of its assets to a wholly owned subsidiary alongwith debt of Rs 11,834 crore

-Arrow Greentech received Patent rights from European Patent Authorities

-Sagar Cements says September production up 38.1 percent at 2,01,690 Mts versus 1,46,051 Mts (YoY) and sales up 38.3 percent at 2,05,097 Mts versus 1,48,313 Mts (YoY)

-Goa Carbon sold 22,419.718 MT of calcined petroleum coke in September, up 7.5 percent compared to August

-Mindtree approves scheme of amalgamation of magnet 360 LLC with the Company

-SEBI issues new rules for categorisation & rationalisation of mutual fund schemes

-Kerala FM Says exporters to get IGST relief for 6 months

-SMEs with annual turnover of up to Rs 1.5 crore allowed to file quarterly returns

-PAN card not needed for jewellery purchase of over Rs 50,000

-GST rate on water pumps reduced to 18 percent from 28 percent

-GST rate on manmade yarns lowered to 12 percent from 18 percent

-RBI puts OBC under prompt corrective action in view of high net NPA

-Zee Entertainment acquires 100 percent equity stake in 9X Media Private for Rs 160 crore and acquisition of balance 26% Equity stake in Zee Turner

-Zydus Cadila receives final approval from the USFDA for Amitriptyline Hydrochloride Tablets US

-USFDA issues EIR for Shilpa Medicare’s manufacturing facility at Jadcherla in Telangana

-Shoppers Stop exits duty free airport retail business disposes of 40 percent for consideration of Rs 6 crore

-Maruti Udyog has received export-orders for supply of LPG Cylinders for Rs 48.40 crore during the months of May-2017 to September 2017

Precision Wires to close down sales depots in 5 states due to uniform rate under GST

-India Glycol to explore and evaluate disposal/sale of co’s subsidiary in Shakumbari Sugar and Allied Ind

-TNPL’s long term bank facilities revised to CARE A Stable from A+

-Lovable Lingerie approves buyback at Rs 250 representing up to 11.9% of the total paid-up equity share capital of the Company, total consideration Rs 50 crore, promoters to participate

-Aurobindo Pharma gets US FDA nod for Moxifloxacin Hydrochloride Ophthalmic solution

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Top Stocks, Return 50% till next Diwali

The year 2017 has been an eventful year for markets as benchmark indices scaled news highs with Sensex rallying over Mount 32K and Nifty hitting a record high of 10,178.

Bata India

Bata (BATA) has four strategically located manufacturing units with a production capacity of 21mn pairs of footwear per annum. The shift from basic-need-based category to evolving-fashion is visible in same stores sales growth (SSSG).

Cyient Ltd

Cyient Limited, formerly Infotech Enterprises Limited, is engaged in providing software-enabled engineering and Geographic Information System (GIS) services. Cyient’s FY18 outlook includes double-digit growth for the services business, over 20 percent growth in DLM and operating margin improvement of 50bps YoY.

L&T

Larsen & Toubro Limited (LT) is a technology, engineering, construction, and manufacturing company. The Company’s segments include activities of Power, Infrastructure, Electrical & Electronics, Engineering Construction, Metallurgical & Material Handling.

Manappuram Finance

Manappuram Finance Limited is an NBFC with second highest AUM as regards Gold loans (Rs107 bn) in the listed space. It has also been growing its presence across Microfinance, Housing Finance, Vehicle Finance and other aspects of consumer finance.

Mahindra Holidays & Resorts

Mahindra Holidays & Resorts India Limited (MHRIL) operates in leisure hospitality industry. The Company is engaged in the business of sale of Vacation Ownership and other related services in India. The Company’s principal activities include income from the sale of Vacation Ownership (VO); annual subscription fee from VO members, and income from the sale of food and beverages.

Dewan Housing

Backed by healthy capital adequacy and increasing demand for home loans DHFL’s loan book is expected to report 23 percent loan growth over next two-three years. Angel Broking expects the company’s loan growth to remain 23 percent over next two years and earnings growth is likely to be more than 28 percent.

Karur Vysya Bank (KVB)

KVB had a fairly strong loan CAGR of 14.9 percent over FY11-17.However, FY17 was the year of consolidation and loan book grew by only 4.7 percent. We expect loan growth to pick up to 11% over FY17-19. Deposit growth is expected at 9% during the period.

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