CH Stock Market Closing Bell 1-November-2017

closing bell

CH CLOSING BELL:

NIFTY FUTURE UP 104 @ 10473

BANK NIFTY FUTURE UP 477 @ 25535

SENSEX UP 397 @ 33610

INR 64.59

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Bharti Airtel Rings Loud, Stock Shoots up by 10%

Shares of Bharti Airtel shot up by 10% to Rs 542 after media reports stated that the company said it has been approached by a few global investors for acquiring controlling stake in Infratel. Bharti Airtel holds 58% stake in Infratel.

The stock had opened at Rs 518. It hit an intraday high of Rs 544.4 and an intraday low of Rs 510. Total traded volumes on the stock was approximately at 2.16 cr shares.

Shares of Bharti Infratel was trading almost unchanged with a slight negative bias around Rs 439 per share. The stock had opened at Rs 446. It hit an intraday high of Rs 452 and an intraday low of Rs 427. Total traded volumes on the stock was approximately at 1.9 cr shares.

On the other hand, the Bharti Infratel board had on Monday said it is looking at acquiring majority stake in the tower firm Indus Towers.

Technically, monthly chart analysis indicates that the stock has broken out from a long drawn consolidation breakout. After remaining stuck for over 10 years, Bharti has finally broken out from a solid Multiyear Breakout on monthly charts.

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Godrej Consumer Products Q2FY18

Godrej Consumer Products ltd revenue for the quarter came in at Rs. 2506.6 crore, registering 2.8% yoy increase. This was primarily driven by 3.4% and 8% yoy increase in revenues from Indian and African business.

EBITDA for the quarter rose by 13.4% yoy to Rs. 570.3 crore with a corresponding margin expansion of 214 bps. EBITDA margin for the quarter stood at 22.8%. This margin expansion was aided by 4.5% yoy decline in cost of raw material consumed.

The PAT for the quarter came in at Rs. 361.9 crore, yoy increase of 12.6%.

Board has declared interim dividend of Rs.1 per share of Rs. 1 each.

Technical View:

Godrej Consumer Products Ltd is currently trading at Rs. 975.10, up by 40.7 points or 4.36% from its previous closing of Rs. 934.40 on the BSE.

The scrip opened at Rs. 940 and has touched a high and low of Rs. 990 and Rs. 940 respectively. So far 18,46,744(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 100 DMA.

Union Bank of India up 3% after Inviting bids for Sale of NPAs

Union Bank of India was up 3% at around 12:30 PM today after the company invited initial bids from asset reconstruction companies, banks and non-banking finance companies for the proposed sale of 10 non-performing assets worth Rs 7.21 billion.

Bidders have to complete due diligence on these loans by Nov 10, and the last date of submission of bids is Nov 17. Gross bad loan ratio of the bank rose to 12.63% as on Jun 30 from 11.17% on Mar 31 and 10.16% a year ago.

Union Bank of India is currently trading at Rs 182.05, up by Rs 5.35 or 3.03% from its previous closing of Rs 176.7 on the BSE.

The scrip opened at Rs 177 and has touched a high and low of Rs 184.8 and Rs 177 respectively. So far 3972032(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 12836.01 crore.

Union Bank of India (UBI) is one of the largest government-owned banks in India (63.44% government stake). The bank’s FY17 loan book stood at Rs.2.9 lac cr. Its FY17 loan mix attributed to retail -15.9%, Agri -16.6%, MSME- 22.8% and medium and large corporate 44.7%. Also, its GNPA & NNPA for FY17 stood at 11.7% & 6.57% respectively.

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Sensex Grosses over 400 Points, PSU Banks Lead

Nifty Bank and FMCG index drive market movement, push indices to touch their new highs. PSU Bank index gains by 3.6%, lead by the strong upward trend of Syndicate Bank.

At 12:40 PM, the S&P BSE Sensex is trading at 33,633 up by 420 points, while NSE Nifty is trading at 10,447 up by 111 points.

The BSE Mid-cap Index is trading up by 0.71% at 16,706.08 whereas BSE Small-cap Index is trading up by 0.90% at 17,759.51.

Bharti Airtel, SBI Bank, ICICI Bank, Axis Bank, and Hindalco are among the gainers, whereas Dr Reddy, UPL, Zee Entertainment, HCL, and EicherMotors are losing steam on NSE.

Some buying seen in Metal, Banks, Telecom, and Basic Materials sectors, whereas IT and Consumer Durables sectors show weakness on the BSE.

The INDIA VIX is down by 3.37% at 12.02 .

Out of 1,948 stocks traded on the NSE, 1,115 advanced, 550 declined, and 310 remained unchanged today.

A total of 122 stocks registered a fresh 52-week high in trade today, while 9 stocks touched a new 52-week low on the NSE.

M&M October Sales: Total Sales at 51,149 units vs 52,008 units YoY.

Eicher Motors October Sales: Royal Enfield sales at 69,492 units vs 59,127 units YoY.

Maruti October Sales: Total sales at 1.46 lk units vs 1.33 lk units, up 9.5% YoY.

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Mercator up 4% as Co Plans exit from Indonesian Coal Mines

In the trading hours of Wednesday, Mercator shares saw an upward swing, gaining around 4%. The upswing was a result of Mercator planning to exit from one of its coal mines in Indonesia.

Reports stated that the company is looking forward for an exit from the coal mine to reduce the debt. Currently, the company holds stake in two mines in Petangis and Batuah in Indonesia through its arm Oorja Holdings Pte. The stake of the company in both the mines is approximately equal to $150 Mn.

Around 12:10 PM, the shares rose up to 3.8%, trading at Rs 47.45.

Mercator Ltd is currently trading at Rs 46.7, up by Rs 1.15 or 2.52% from its previous closing of Rs 45.55 on the BSE.
The scrip opened at Rs 46 and has touched a high and low of Rs 47.8 and Rs 46 respectively. The stock is currently trading above its 200 DMA.

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Texmaco Rail Awarded Rail Contract, Stock up 3%

Texmaco Rail & Engineering Limited has been awarded a contract, valuing USD 67.7 million, by the Ministry of Railway, Bangladesh Government, for construction of 45 Kilometer Dual Gauge Railway Line, including Railway stations buildings, Level Crossing gates and a Custom House Building through North Eastern Border area in Maulavibazar District of Bangladesh adjoining Karimganj District of Assam state of India. The Rail route is expected to enhance trade and passenger transportation between the two countries by opening a new custom check post.

The line segment is planned to be constructed within a period of 18 months by the EPC Division – Kalindee Rail Nirman of the Company. The entire project is a part of an ambitious multinational “TRANS ASIA RAILWAY NETWORK” program. The awarded contract to the company would pe partly funded by the Government of India through EXIM Bank under a Line of Credit.

The stock is up by 2.55% or Rs 2.60 trading at Rs 118.50 on NSE. The Stock has gained 17% in the month of October, 2017 from Rs 99.05 on October 1, 2017 to Rs 115.70 on October 31, 2017. The Promoters hold 52.43% stake in the company as on September 30, 2017.

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Tata Tele Mah rises by 5% following buyback of shares from DoCoMo

Tata Tele Maharashtra shares rose by 5% following the settlement of dispute between Tata Sons and NTT DoCoMo. The dispute ended after 3 years, wherein Tata Sons paid $1.27 billion to the Japanese Telecom company NTT DoCoMo. The latter will exit its 26.5% stake in the Indian Telecom Operator Tata Teleservices Ltd.

Following the payment, the Japanese Telecom company gave up all equity investment in TTSL.In the year 2009, NTT DoCoMo had acquired 26.5% stake in TTSL for $2.7 Billion.

Under the shareholders’ agreement, if TTSL was unable to achieve certain performance level, then Tata Group was supposed to find buyer for selling the shares held by the Japanese Telecom. If not, then the Group would have to buy the same at 50% discounted price \

Tata Teleservices (Maharashtra) Ltd is currently trading at Rs 9.06, up by Rs 0.43 or 4.98% from its previous closing of Rs 8.63 on the BSE.

The scrip opened at Rs 9 and has touched a high and low of Rs 9.06 and Rs 8.82 respectively.

The stock is currently trading above its 200 DMA.

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CH Stock Market Opening Bell for 1-November-2017

OPENING BELL:

NIFTY FUTURE UP 38 @ 10407

BANK NIFTY FUTURE UP 153 @ 25211

SENSEX UP 131 @ 33344

INR 64.62

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International Market Update by Money CapitalHeight

INTERNATIONAL MARKET UPDATE

GOLD $ 1270.93

SILVER $ 16.74

COPPER $ 3.14

CRUDE $ 54.62

INR 64.66

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