Results to watch out for! Cipla, Lupin, Bosch, Power Grid in Focus

The results which are expected today are Cipla, Lupin, Apollo Tyres, Bosch, Power Grid Corporation, REC, PFC, Eveready Industries, Godrej Properties, Indian Bank, Karnataka Bank, UCO Bank, J&K Bank, Aarti Drugs, Punjab & Sind Bank, JK Tyre & Industries, FDC, Hikal, Capital First, Edelweiss Financial,  Max India, NCC, L&T Infotech, Narayana Hrudayalaya, Orient Cement.

Parag Milk Foods, Pidilite Industries, Ramco Cements, TBZ, Ujjivan Financial Services, VIP Industries, Ansal Housing, Caplin Point, DFM FOODS, Emkay Global, HOV Services, Huhtamaki PPL, IG Petrochemicals, ITD Cementation India, Jamna Auto Industries, Kesoram Industries, Lumax Auto Technologies, Mold-Tek Technologies, Morepen Laboratories, MRO-TEK, Mukand, Orchid Pharma, Ramco Systems, Rico Auto Industries, Sanghvi Movers, Saregama India, Satin Creditcare, Snowman Logistics, Speciality Restaurants, Udaipur Cement Works, Venus Remedies, Voltamp Transformers.

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Live Stock Market Updates – Sensex Ends Higher; Lupin among top Gainers

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Closing Bell:

Finally, the BSE Sensex ended with a gain of 184 points at 27,459. The BSE Sensex opened at 27,552 touched an intra-day high of 27,591 and low of 27,399.

The NSE Nifty closed with a gain of 63 points at 8,497. The NSE Nifty opened at 8,536 hitting a high of 8,535.85 and low of 8,481.

Live Market:

The Indian stock market snapped a five-day losing streak amid a rebound in Asian equities and also the FBI cleared presidential candidate Hillary Clinton of potential criminal charges in its private email server probe.

At 11:10 AM, the S&P BSE Sensex is trading at 27,511 up 237 points, while NSE Nifty is trading at 8,516 up 83 points.

The BSE Mid-cap Index is trading up 1.53% at 13,036 whereas BSE Small-cap Index is trading up 1.70% at 13,097.

Lupin, ITC, Adani Ports, SBI and Tata Steel are among the gainers, whereas Asian Paints, HUL, TCS, Wipro and Bajaj Auto are losing sheen on NSE.

All the BSE sectoral indices were trading in the positive territory.

The INDIA VIX is down 2.12% at 16.4900. Out of 1,876 stocks traded on the NSE, 226 declined, 1,131 advanced and 319 remained unchanged today.

A total of 17 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

PNB Housing Finance shares got listed at Rs 863, a 11.35% premium over the issue price of Rs 775.The stock got listed on NSE at Rs 860, up 10.97%.

Lupin soared 7% after the company has received the inspection closure report from the USFDA for its Goa facility.

Punjab National Bank climbed 5.8%. Punjab National Bank reported a net profit of Rs.549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs 621 crore profit recorded in the corresponding year-ago period.

Dalmia Bharat Ltd gained 1.7% its boards of Dalmia Bharat and OCL India decided to merge the two entities. The merged entity will have a cement capacity of 25 million tonne spread across eastern and southern India.

Bank of Baroda rallied 4%.  Bank of Baroda reduced the marginal cost of fund (MCLR) based interest rates by 10 basis points across different tenors with effect from 7 November.

PNB Housing Finance was trading at Rs 889 at BSE, a premium of 12.98% over the initial public offer price of Rs 775 per share on its debut on the bourses today.

KPIT Tech gained 2.5% : KPIT Technologies will sell its Berlin-based subsidiary KPIT medini Technologies AG to ANSYS, but did not disclose the deal size.

Dena Bank dropped 2% after the bank posted net loss at Rs 44 crore for the quarter ended September 30, 2016 as compared to net profit of Rs. 38.8 crore for the quarter ended September 30, 2015.

HCC climbed 4.6% to Rs 36 on the BSE. The RBI mandated Overseeing Committee (OC) has approved the (S4A) Scheme of Sustainable Structuring of Stressed Assets for Hindustan Construction Company. The ICICI led joint lenders’ forum had proposed the scheme for the infrastructure major.

The rupee opened marginally lower by four paise at 66.70/$ as against the previous close of 66.74/$.

Asian markets opened in the green after a week of declines & should see pull back from deeply oversold zone extend as we head into the results of US elections due on Tuesday night.

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Results to watch out for! ICICI Bank, Godrej Consumer Products, 8K Miles in focus

The results which are expected today are ICICI Bank, Godrej Consumer Products, 8K Miles, Aban Offshore, Aegis Logistics, Britannia Industries, Ceat, EID Parry (India),  Swaraj Automotives, TIL Ltd and Vakrangee Ltd, Shalimar Paints, Shree Cements.

Stock Commentary:

ICICI Bank Ltd ended at Rs 269.35, down by Rs 0.45 or 0.17% from its previous closing of Rs 269.8 on the BSE. The scrip opened at Rs 271.1 and touched a high and low of Rs 272.6 and Rs 265.6 respectively. A total of 10307982 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 156942.02 crore.

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Q2 preview: ICICI Bank Likely to Report over 20% Drop in Profit

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ICICI Bank Q2 Result Preview

ICICI Bank BSE 1.37 %, India’s largest private lender, is projected to report a set of weak numbers for the September quarter. Various brokerages have forecast a double-digit drop in profit on muted sales and a rise in NPA.

That said, brokerages believe given the recent stake sale in the insurance arm, the bank may have enough capital to make sufficient provisions.

Brokerage Motilal Oswal Securities expects the lender to report a 21.4 per cent YoY drop, or 6.7 per cent QoQ rise, in net profit at Rs 2,400 crore. Interest earned is likely to come in at Rs 5,200 crore, flat on a QoQ basis and down 1.7 per cent on a YoY basis. Ebitda is projected to rise 2.9 per cent QoQ and 4.1 per cent on YoY basis.

“We expect PPoP or pre-provision operating profit (ex-capital gains from stake sale) to grow 4 per cent YoY. However, we are factoring in a 20 per cent YoY decline in earnings led by higher credit cost. We expect one-off stake sale gains to be utilised for provisions,” the brokerage said.

Prabhudas Lilladher (PL) is anticipating a 20.8 per cent YoY drop in the bank’s profit. It said the drop in earnings would be led by high provision requirement on likely elevated slippages, mainly from the stressed watch list.

“We factor in credit cost of 250 bps (excluding any contingent provision) and some impact on margins from interest reversals. Core PPoP trends will also continue to be weaker on nominal loan growth of 10-12 per cent with better growth in retail. The bank will have high other income from ICICI Pru Life’s IPO proceeds, which the bank is likely use to make contingent provisions,” PL said in a note.

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Nifty Futures to Open at 8512, UP 57 Points

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Dynamic Levels’ Market Outlook:
Nifty opening gap up as Hillary gets clean chit from US FBI
Indian Market Outlook:
Indian benchmark Index Nifty, after a closing below its monthly breakout level of 8506 last week, is likely to witness a pullback on the upside as positive news on US presidential elections came in today morning. Hillary Clinton, US Democratic Presidential Candidate and Wall Street favorite, has been given a clean chit in an email case which can lead to big gains in all global indices. India is expected to be a major gainer.
For Nifty Futures, 8520 level is very crucial, if market crosses it then bulls will be in control. FII have been net sellers in the cash and F&O segment in the past few trading sessions, now it is important to see if they change their view in next few trading sessions. NSE Small Cap Index saw profit booking to close below 6200, below its two week low.
Nifty Futures is expected to open at 8512 as per SGX Nifty at 8:10 am IST, which is 57 points above its previous close of 8455.

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How Will The U.S. Election Impact Markets?

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The seemingly never-ending spectacle that is the US presidential election campaign is entering its final act. By the end of the night on November 8, either Hillary Clinton or Donald Trump will become the new president-elect of the world’s largest economy. While it seems like the media has dissected every aspect of the upcoming election, from email servers to hand sizes, comparatively little ink has been spilled about how election could affect global asset markets.

This special report seeks fill in those gaps. In the following sections, we provide an overview of the US election process and timeline; a look at a couple of the candidates’ most market-moving economic policies; and an examination of how markets have historically reacted under different political regimes, including actionable takeaways to use in your own trading.

What Do Polls Say?

Opinion polls have been volatile throughout the national campaigns, though Hillary Clinton has generally maintained a lead over her Republican rival. That said, last week’s news that the FBI has reopened its investigation into Clinton’s controversial email server has brought Donald Trump back within striking distance. According to poll aggregator Real Clear Politics, Clinton is currently polling at 47.2% nationally vs. 45.5% for Trump and the situation remains highly fluid:

We’re traders, not political pundits, so we won’t try to handicap the likelihood of each outcome. Overseas bookmakers are giving Hillary Clinton a 70/30 chance of winning the election. The experts at the election forecasting site FiveThirtyEight.com agree that these odds are accurate. Based on the website’s “Polls-only” model, Editor in Chief Nate Silver and company currently give Clinton about a 70% chance of taking the oath of office, though that forecast will of course change as new polls come in.

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ITC Q2 Net Profit up 10.4%

ICT Q2 Profit

FMCG major ITCBSE 0.84 % on Wednesday reported a 10.4 per cent year-on-year (YoY) growth in net profit at Rs 2,500 crore for the quarter ended September 30, 2016, which was slightly lower than a Rs 2,670 crore estimate that analysts had projected in an ETNow poll.

Tobacco-to-FMCG conglomerate ITC reported a net profit of Rs 2,262.50 crore in the corresponding quarter of last fiscal, and Rs 2,384.67 crore in the previous quarter, the company said in a statement.

At 02:00 pm; ITC was trading 0.6 per cent lower at Rs 237.20. It hit a low of Rs 233.60 and a high of Rs 240.95.

ITC Cigarette volume rose by 7.1 per cent to Rs 8,530 crore for the quarter ended September 30 compared with Rs 7,963.10 reported in the year-ago period.

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Hindustan Zinc Q2 Net Profit Down 15%

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Hindustan Zinc Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2016:

The company has posted a net profit of Rs 1,901 crore for the quarter ended September 30, 2016 as compared to Rs 2,248 crore for the quarter ended September 30, 2015. The total income has decreased from Rs 5,193 crore for the quarter ended September 30, 2015 to Rs 4,647.6 crore for the quarter ended September 30, 2016.

Stock Commentary:

Hindustan Zinc Ltd ended at Rs 248.9, up by Rs 4.05 or 1.65% from its previous closing of Rs 244.85 on the BSE.

The scrip opened at Rs 246.8 and touched a high and low of Rs 251.9 and Rs 245.5 respectively. A total of 3968242(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 103456.94 crore.

The BSE group ‘A’ stock of face value Rs 2 touched a 52 week high of Rs 262.8 on 03-Oct-2016 and a 52 week low of Rs 135.8 on 20-Jan-2016. Last one week high and low of the scrip stood at Rs 254.4 and Rs 231 respectively.

The promoters holding in the company stood at 64.92 % while Institutions and Non-Institutions held 33.79 % and 1.28 % respectively.

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Stocks in focus: Tata Coffee, Hindustan Zinc, RBL Bank, Havells India

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Stocks in Focus Today:

Results today: Tata Coffee, RBL Bank, KPIT, Hindustan Zinc, Gujarat Foils and ABC Bearings will announce their financial results for the quarter ended September 30, 2016 on Wednesday.

Havells India: Consumer Electrical goods maker Havells India reported a 21.96 per cent rise in standalone net profit at Rs 145.79 crore for the quarter ended September 30, on improved margins across all product categories.

Hatsun Agro: Hatsun Agro Product Ltd reported marginal rise in net profit at Rs 32.15 crore for the quarter ended September 30. Its net profit stood at Rs 31.04 crore in the year-ago period, the company said in a BSE filing.

New Listing: Shares of auto components maker Endurance Technologies will list on bourses today. The IPO, which opened for subscription from October 5-7 was oversubscribed 44 times at a price band of Rs 467-472 per share.

Apollo Hospitals: With an aim to raise funds to expand its clinics business, Apollo Hospitals will dilute some stake in the vertical for Rs 450 crore this fiscal.

Allahabad Bank: State-owned Allahabad Bank proposes to raise Rs 500 crore from share sale to Qualified Institutional Buyers (QIB) to fund business expansion.

Ceat: The company has unveiled a new range of puncture-safe tyres for motorcycles. The tyres have been developed at its research and development centre at Halol in Gujarat. A puncture-safe tyre has a sticky, gum like sealant material layer inside the tyre in the tread area. This material seals the damaged area due to puncture by any penetrating object preventing air loss and avoids the need of immediate repair.

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Mastek Q2 Profit Doubles to Rs 7.7 cr

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Software solutions provider Mastek ‘s profit more than doubled to Rs 7.7 crore in July-September quarter from Rs 3.6 crore in preceding period, driven by strong operational performance despite revenue degrowth.

Revenue during the quarter fell 3.2 percent quarter-on-quarter to Rs 125.9 crore due to weak UK operations that contributed 92 percent to total income. Digital business contribution stood at around 50 percent.

Impact of Brexit on pound had an impact on rupee revenue, Sudhakar Ram, managing director & Group CEO said, adding the constant currency revenue growth was 1.5 percent in Q2. Ram expects margin momentum to continue in the forthcoming quarters.

Mastek said it added 8 new clients during the quarter and 19 clients in H1 FY17, taking total count to 91 (last-twelve-month). Its 12-month order backlog was Rs 220.1 crore (25.3 million pound) as on September 2016 compared to Rs 216.5 crore at the end of June quater. The company’s billable utilisation improved to 81.5 percent in Q2 from 80.2 percent in preceding quarter

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