CH Bank Nifty Market Trend for 30-October-2017

bank nifty trends

CH: BANK NIFTY TREND -CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 24770

SUPP 2: 24585

RES 1:25380

RES 2: 25650

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CH Nifty Market Trend for 30-October-2017

CH: GOOD MORNING

NIFTY TREND-BULLISH

NIFTY SPOT LEVELS

SUPP 1: 10315

SUPP 2: 10230

RES 1: 10445

RES 2: 10520

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CH Bank Nifty Market Trend for 27-October-2017

BANK NIFTY TREND -CONSOLIDATE

BANK NIFTY FUTURE LEVELS

SUPP 1: 24870

SUPP 2: 24585

RES 1:25380

RES 2: 25650

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CH Nifty Market Trend for 27-October-2017

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NIFTY TREND-BULLISH

NIFTY SPOT LEVELS

SUPP 1: 10285

SUPP 2: 10190

RES 1: 10390

RES 2: 10480

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RBL Bank to Gain on Stable Asset Quality, Rise in PAT

Shares of RBL Bank are set to rise today as the lender’s reported its Q2 FY18 net profit rose by 67% yoy to Rs 150 crore vs Rs 89 crore in Q2FY17.

The NII for the quarter rose by 38% yoy to Rs 420 crore in Q2 FY18 vs Rs 303 crore in previous year corresponding quarter. This was largely driven by 21% yoy increase in interest income to Rs 1,091 crore.

Asset quality of the bank was stable in Q2 FY18. GNPA’s as percentage to total advances rose by 34 bps to 1.44% vs 1.1% in Q2 FY17. While net NPA also rose by 23 bps to 0.78% in Q2 FY18 vs 0.55% in previous year corresponding quarter.

The provisions for the quarter rose by 51% to Rs 74.8 crore in Q2 FY18 vs Rs 49.5 crore in Q2 FY17.However, net profit for the quarter rose by 67% yoy to Rs 150 crore vs Rs 89 crore in Q2 FY17.

Advances for the quarter also saw 35% qoq jump in the quarter to Rs.33576 crore vs Rs.24875 crore in Q2FY17. Further capital adequacy for the quarter also looks good at 15.95% vs 14.5% in Q2 FY17.

RBL Bank, formerly The Ratnakar Bank Limited, is a Kolhapur-based small-sized private sector bank. In FY17, wholesale loan book consisted of 69.1% Corporate-&-Institutional-Banking (CIB) and 30.8% Commercial-Banking(CB). Remaining non-wholesale loan book comprises 46.2% Branch & Business Banking (BBB), 35.5% Development Banking & Financial-Inclusion (DB&FI) and 18.8% from Agribusiness Banking (AB). Its current asset quality also looks stable at GNPA and NNPA of 1.6% and 0.64%, respectively. Its loan book stands at Rs.29449 cr in FY17.

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RCOM to shutdown DTH Business Next Month

On October 25, 2017, news of Reliance Communication shutting down its DTH business had surfaced in the market. The company, being in the middle of debt restructuring, had planned to shut down its Direct-To-Home or DTH television business in the coming month. The move was taken as it failed to find any buyer for the business.

The Company issued its clarification in a filing to BSE stating that it will be closing down its DTH business next month.

“DTH operations is a non-core business of the Company provided through Reliance BigTV Limited (RBTV), a subsidiary of the Company. RBTV’s DTH license is expiring by end of November 2017 and the Company is currently working with 3 leading DTH operators for seamless migration of customers to enjoy uninterrupted services.” stated the filing.

Reliance Communications Ltd is currently trading at Rs 16.1, down by Rs 0.35 or 2.13% from its previous closing of Rs 16.45 on the BSE.

The scrip opened at Rs 16 and has touched a high and low of Rs 16.2 and Rs 16 respectively.

The stock is currently trading below its 200 DMA.

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L&T Construction bags orders worth Rs 3,551 crore

Larsen & Toubro Ltd is currently trading at Rs 1220.9, up by Rs 16.45 or 1.37% from its previous closing of Rs 1204.45 on the BSE as its arm has won orders worth Rs 3,551 Crore across various business segments.

The stock opened at Rs 1205 and has touched a high and low of Rs 1223.3 and Rs 1204.45 respectively. The stock is currently trading above its 100 DMA.

L&T is India’s largest engineering and construction company. It derived major revenue from infrastructure (48%) in FY17, followed by hydrocarbon (9%).

Further, it generated 34% revenue from international markets in FY17.

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Star Cement Rallies 5% after Huge Block Deal

Multiple Silos

Star Cement stock rallied 5% to Rs 115.95 after 85.5 lakh shares or 2% equity change hands in four blocks on the NSE at Rs 110-110.65 per share.

Star Cement Ltd is currently trading at Rs 115, up by Rs 4.4 or 3.98% from its previous closing of Rs 110.6 on the BSE.

The scrip opened at Rs 113.5 and has touched a high and low of Rs 119.8 and Rs 111.2 respectively.  The stock is currently trading above its 50 DMA.

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Top 3 ELSS Funds to create wealth and save tax

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Equity-linked savings scheme (ELSS) is a type of equity mutual funds, investments in which are tax deduction up to Rs 1.5 lakh per fiscal year under section 80C.
An ELSS invests equal-to or more than 80% of its AUM in equities and equity related instruments. Investors can opt for either SIP’s or lump sum investment in ELSS.

Below are some of the benefits of the ELSS:

  • Wealth creation with tax-saving – Historically, it has been seen that ELSS schemes have given significantly more returns than other tax saving schemes like PPF, 5 years FD, EPF etc.
  • Shortest Lock-in period – ELSS has lock-in period of 3 years which is the shortest lock-in period among tax-saving instruments.
  • Returns are tax free – Returns in the form of capital gain as well as dividends are tax free in the hands of investor.

These funds are suitable for investors who are looking for long term capital appreciation along with tax saving. Below are the some of the top 3 recommended ELSS fund.

Scheme Name AUM
(Rs cr) 
1 Y (%) 3 Y (%) 5 Y (%)
Aditya Birla SL Tax Relief ‘96(G) 3,962 22.6 20.1 21.8
Axis Long Term Equity Fund(G) 14,634 19.4 16.7 22.8
Reliance Tax Saver (ELSS) Fund(G) 9,114 20.5 14.4 21.4

1 year returns are absolute; 3 years and 5 year returns are CAGR.
AUM as of September 2017, Returns are as on October 18, 2017

Aditya Birla SL Tax Relief ‘96 Fund does tactical allocation between Large-cap and Mid-cap to ensure optimal risk reward. The fund has invested ~41% of its AUM in large-cap stocks and ~51% in mid-cap stocks to generate higher returns.

Axis Long Term Equity Fund invests in companies with sustainable profit growth to generate wealth over 3-4 years. Besides, the fund manager follows bottom-up approach to select the companies. The fund has invested ~70% of its AUM in large-cap stocks while ~25% in mid-cap stocks higher returns.

Reliance Tax Saver (ELSS) Fund does tactical allocation between large-cap, Mid-cap and Small-cap stock to generate higher returns. The fund invests in potential leaders with high growth prospect. Generally, the fund takes 2-3 sector call at a time and invests in high conviction mid-caps stocks. The fund has invested ~57% of its AUM in large-cap stocks, 25% in mid-cap stocks and 14% in small-cap stocks for higher returns.

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Results to watch out – Yes Bank, Biocon, United Spirits

The results which are expected today are Yes Bank, Biocon, United Spirits, Crompton Greaves Consumer Electricals, Cummins India, Equitas Holdings, Gic Housing Finance, Indiabulls Ventures, Jubilant Foodworks, L&T Finance Holdings, Shoppers Stop, Sharda Cropchem, Srei Infrastructure, Vijaya Bank, Whirlpool of India.

Here are the street expectations for Yes Bank Q2FY18 (YoY):

  • PAT likely to increase by 29% to Rs 1,035 crore.
  • NII is seen rising 28.8% to Rs 1,863 crore.
  • NIM seen at 3.6-3.7%.

Yes Bank is a private sector bank with over ~1% domestic market share. Its advances are attributable ~67.7% to corporate segment while the remaining ~32.3% were to mid corporate, MSME and retail segment as of FY17. It has a CASA ratio of 36.3% and stable asset quality with GNPA of ~1.52% as of FY17.

Yes Bank Ltd is currently trading at Rs 337.25, up by Rs 9.6 or 2.93% from its previous closing of Rs 327.65 on the BSE.

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