Commodities Buzz: Indian Crude Oil Basket Tumbles Near $54 Mark

The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.24 per barrel (bbl) on 9.10.2017. This was lower than the price of US$ 55.27 per bbl on previous publishing day of 6.10.2017. In rupee terms, the price of Indian Basket decreased to Rs. 3542.48 per bbl on 9.10.2017 as compared to Rs. 3605.01 per bbl on 6.10.2017. Rupee closed weaker at Rs. 65.31 per US$ on 9.10.2017 as compared to 65.23 per US$ on 6.10.2017.

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Gold Recoups Previous week’s Losses as Dollar Eases

Gold prices rose on Monday, erasing all of the previous week’s losses, as a weaker dollar and the resilience of a key chart level removed some downward pressure, while the return of Chinese buyers to the market also lent support.

Prices bounced after falling for a fourth week to a two-month low on Friday, following an upbeat reading of U.S. wage growth and unemployment that supported expectations for a U.S. interest rate hike in December, pushing the dollar and Treasury yields higher.

Gold’s resilience above its 200-day moving average at $1,253 an ounce also provided some technical support. Meanwhile, the dollar fell below a 10-week high, while geopolitical concerns centred on North Korea and Spain supported gold prices.

Spot gold was up 0.6 percent at $1,283.16 an ounce by 2:33 p.m. EDT (1833 GMT), while U.S. gold futures for December delivery settled up 0.8 percent at $1,285.

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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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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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SEBI Rolls out Mutual Fund Reforms

The Securities and Exchange Board of India (SEBI) on Friday announced some reforms in the mutual funds industry. The regulator has categorised mutual funds into five schemes — equity, debt, hybrid, solution oriented, and other schemes.

Fund houses will be allowed to have one scheme in each category, except for index funds/ETFs tracking indices, fund of funds and thematic schemes investing in different sectors.

The move is to bring in uniformity in the characteristics of similar type of schemes launched by different mutual funds and to standardise the scheme categories. The regulator wants funds to clearly distinct schemes in terms of asset allocation, investment strategy, etc.

The reforms, which were anticipated by the industry, will make it easier for investors to evaluate their options before investing.

“The regulatory direction is supportive of our belief that for investors to make optimal choices, the industry needs to offer fewer well-defined choices rather than a plethora of clones,” said Aashish Somaiyaa, MD & CEO of Motilal Oswal AMC.

As per the circular, mutual funds would have to carry out the necessary changes in all respects within a maximum of 3 months.

The solution oriented schemes will have a specified lock-in period, but that would not be applicable to the existing investments made by an investor, registered SIPs (systemic investment plans) and incoming STPs (systemic transfer plans) in the current solution oriented schemes.

SEBI also defined the large cap, mid cap and small cap companies. The first 100 companies in terms of market capitalisation will be categorised as large cap companies, 101-250th companies as mid caps, and comapanies on ranks 251 onwards, will be defined as small caps.

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Morgan Stanley sells 17.67 lakh shares of Granules India

On October 6, 2017 Morgan Stanley (France) S.A. sold 17,67,051 shares of Granules India at Rs 119.37 on the NSE.

On Friday, Granules India ended at Rs 121.80, up Rs 7.10, or 6.19 percent on the NSE.

The share touched its 52-week high Rs 157.25 and 52-week low Rs 91.45 on 18 May, 2017 and 09 November, 2016, respectively.

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Tata Steel may move to Rs 760-770

“Tata Steel has had a very strong upside and almost at fresh all-time highs or rather fresh 52-week highs. I think once we get past or stay past this Rs 695 zone, you could easily have a fairly strong rally towards Rs 760-770.”

“Tata Steel is a place where people will see clear out-performance because the Nifty is still 200 points away. So any stock that is already at new highs or fresh intermediate highs, is likely to outperform,”

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Indian ADRs: ICICI Bank, Infosys gain; Tata Motors slips

Indian ADRs ended mixed on Friday. In the banking space, ICICI Bank gained 0.47 percent at USD 8.47 and HDFC Bank was down 0.04 percent at USD 93.40.

In the IT space, Infosys rose 0.76 percent at USD 14.63 and Wipro fell 0.18 percent at USD 5.49.

In the other sectors, Tata Motors shed 0.09 percent at USD 32.24 and Dr Reddy’s Laboratories was up 0.06 percent at USD 36.31.

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