CH Stock Market Closing Bell 21-December-2017

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CH CLOSING BELL:

NIFTY FUTURE DOWN 12 @ 10457

BANK NIFTY FUTURE DOWN 52 @ 25610

SENSEX DOWN 64 @ 33712

INR 64.09

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Stocks in the NEWS: CapitalHeight Updates

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Here are stocks that are in news today:

HDFC

  • Sells 6.3 percent stake in Computer Age Management Services Pvt Ltd to Great Terrain investment an affiliate of Warburg Pincus for Rs 209 crore
  • CAMS has a Pan India network of 265 service centres
  • Revenue for 2017 was Rs 478 crore

Reliance Communications

  • Joint Lenders forum meeting scheduled for Thursday: HBL
  • Jio leads the race to buy Reliance Communications’ assets

Textile sector

  • Cabinet approves scheme for capacity building in textile sector

Other stocks and sectors that are in news today:

  • 2G case verdict today
  • Sun Pharma subsidiary Taro gets US FDA nod for Clindamycin Phosphate & Benzoyl Peroxide Gel (used to treat moderate acne)
  • Canara Bank board meeting on December 26 to consider fund raising via QIP
  • IVRCL enters into share purchase agreement with Cube Highways for sale of entire stake in Salem tollways and Kumarapalayam Tollways ltd
  • Pidilite board to consider buyback of shares on December 26
  • Pincon Spirit is under forensic audit net to check misuse of funds
  • Creditors approve extending period of corporate insolvency resolution process of Jyoti Structures by 90 days
  • Dalmia Bharat to acquire Murli Industries: Report
  • Varun Beverages to acquire Pepsico India’s franchised sub territory in Jharkhand
  • SQS India says Assystem Services made an open offer to acquire 27.82 lakh shares, or 26 percent stake at Rs 475.27 each
  • Coal India board approves long term linkage under SHAKTI auction for 9000 MW
  • Griffin Partners acquires 14.64 percent stake in Future Supply Chain on the listing day, December 18
  • Cabinet approves outlay of Rs 1,300 crore during FY18-20 for new skill development scheme

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Top Stock Market News and Updates from CapitalHeight

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Stay tuned to CapitalHeight  to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:

Wall Street ends lower

Wall Street’s main indexes dipped on Wednesday, pausing after recent record highs as both houses of Congress approved a long-anticipated tax overhaul. The Dow Jones Industrial Average fell 28.1 points, or 0.11 percent, to 24,726.65, the S&P 500 lost 2.22 points, or 0.08 percent, to 2,679.25 and the Nasdaq Composite dropped 2.89 points, or 0.04 percent, to 6,960.96, Reuters reported.

Asian markets trade subdued

Asian indexes lost ground on Thursday after US stocks closed mostly flat. Nikkei shed 0.34 percent early in the day as investors awaited the Bank of Japan’s policy decision due later in the session. The Kospi saw slightly steeper losses, with the index declining 0.76 percent in morning trade, CNBC reported.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 15 points lower at 10453 indicating a negative opening for the domestic market.

Risks to inflation, fiscal uncertainty to keep RBI alert: RBI Gov

Risks to inflation due to the rise in oil prices, uncertainties on the fiscal and external front will keep the central bank vigilant, said the Reserve Bank of India (RBI) Governor Urjit Patel in the minutes of the fifth bi-monthly and 7th meeting of the Monetary Policy Committee (MPC).

Centre aims to finalise National Telecom Policy by March: Manoj Sinha

The government is looking to finalise the National Telecom Policy 2018 by March next year, Communications Minister Manoj Sinha informed Parliament on Wednesday. He said that several working groups have been constituted on different themes for this purpose.

House gives final approval to US tax bill

The Republican-controlled US House of Representatives gave its final approval on Wednesday to the biggest overhaul of the US tax code in 30 years, sending a sweeping USD 1.5 trillion tax bill to President Donald Trump for his signature, reports Reuters. The House approved the measure by 224-201, passing it for the second time in two days after a procedural foul-up forced another vote on Wednesday.

More changes to bankruptcy code likely in Budget

The government will fix a few urgent problem areas in the insolvency ordinance when it is brought to Parliament in the ongoing session but is likely to make substantive changes to the law in the upcoming budget after the panel looking into the Insolvency and Bankruptcy Code (IBC) makes its recommendations, Economic Times reported.

Govt has over 7400 Mhz spectrum available for telecom services

The government has 7,446 Mhz of spectrum available for telecom services, of which over 80 percent is in two new spectrum bands identified for mobile telephony, Communications Minister Manoj Sinha informed the Lok Sabha on Wednesday.

As much as 770 megahertz (MHz) spectrum is available in the premium 700 Mhz band, 58.75 Mhz in 800 Mhz band, 15.6 Mhz in 900 Mhz band, 46.8 Mhz in 1800 Mhz band and 275 Mhz in 2100 Mhz band, according to the data shared by Sinha.

Food processing sector to attract $18 bn in 4 years: Govt

India’s food processing industry could attract an investment of USD 18 billion in the next four years as this sector provides great business opportunity with an annual growth rate of over 8 percent, a top government official said on Wednesday.

Bitcoin falls almost 20% from recent peak to 1-week low

Bitcoin fell more than 10 percent on Wednesday to a one-week low of USD 15,800 at cryptocurrency exchange Bitstamp, losing almost one- fifth of its value from a peak hit just three days ago, Reuters reported.

NPPA eases norms for new drug approvals

New drug approvals are likely to pick up after the National Pharmaceutical Pricing Authority (NPPA) decided to de-link price approval of new drugs with its internal guidelines, a move seen as a major relief to pharmaceutical companies.

The NPPA has also decided to do away with the practice of deciding a new price for each applicant of a new drug, Mint reported.

2G scam verdict to be out today

On Thursday, a special CBI court in Delhi will announce its verdict on the Spectrum 2G case, ending nearly 6 years of wait for a closure. The court’s decision will also be a judgement on the then telecom minister A Raja, DMK’s Rajya Sabha MP Kanimozhi.

The report revealed that the 2G spectrum licences had been issued to telcos at underestimated prices which led to a loss of Rs 1.76 lakh crore to the government.

Govt may allow 100% FDI in telecom via automatic route

The government is finalising a plan to allow 100 per cent FDI for telecom services through the automatic route which allows firms to attract foreign funds without its approval, sources said on Wednesday.

153 IPOs hit Indian market; $11.6 bn raised in 2017: Report

As many as 153 initial public offers hit the Indian stock market this year, raising USD 11.6 billion, according to an EY report that says activity “looks good” for 2018 as well.

According to the report released on Wednesday the fourth quarter of this year saw 22 IPOs hitting the market, an increase of 47 percent quarter-on-quarter in terms of the number of deals.

Astron Paper IPO over-subscribed 243.20 times

Astron Paper and Board Mills’ IPO was over-subscribed 243.20 times so far on the last day of bidding on Wednesday. The IPO to raise Rs 70 crore received bids for 3,40,48,47,040 shares against the total issue size of 1,40,00,000 shares, data available with the NSE till 2000 hrs showed. Pantomath Capital Advisors Private Limited is the book running lead manager to the offer.

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Broker Radar of stocks on Dec 21

CapitalHeight Review, CapitalHeight Complain, CapitalHeight Complaint, CapitalHeight, bank nifty levels, bank nifty support levels, CapitalHeight Complain, Capitalheight Complaint, clossing bell, daily nifty, free nifty live, free nifty tips, free nifty view, Indian Rupee Update, nifty, nifty down, nifty index, nifty live, Nifty Market Trend, nifty market trends, nifty related news, nifty report, nifty support, nifty support levels, nifty up, nifty up or down, nifty view today, nifty50, nifty50 newsCLSA on Reliance Nippon Life AMC:

  • Initiated ‘Buy’ with price target of Rs 325.
  • Mutual funds in a sweet spot with rising penetration.
  • Robust earnings growth and high dividend payouts to aid investor returns.
  • Expect asset under management, revenue and net profit to grow at a compounded rate of 23%, 28% and 26% respectively by March 2020.
  • Dividend yield to rise to 3.1% by the next financial year versus 1.6% clocked during the previous financial year.
  • Reliance Nippon to leverage retail strength.
  • Topline growth largely driven by rise in share of equity.
  • Equity share in asset under management to rise to 40% by March 2020 versus 28% in March 2017.
  • Cost of operations to remain high.

Morgan Stanley on HDFC Standard Life:

  • Initiated ‘Overweight’ with price target of Rs 425.
  • HDFC Life is one of the best plays on India’s protection story.
  • One of the strongest distribution franchises; Relies heavily on HDFC Bank.
  • Specializes in protection – an underpenetrated and highly profitable segment.
  • Superior franchise to drive steady growth.
  • Improvement in revenue mix to offset margin pressure.
  • Expect protection premiums to grow at a compounded rate of 44% by March 2020, and 20% between March 2020 and March 2030.
  • Expect return on enterprise value to sustain at 20 percent over the next three years.
  • Expect value of new business to grow at a compounded rate CAGR of 28% by March 2020.
  • Near-term upside is limited following strong listing.
  • Bull case price target of Rs 580: Strong growth, significant improvement in persistency and stronger-than expected performance on protection.

Morgan Stanley on HDFC Bank:

  • Maintained ‘Overweight’; raised price target to Rs 2,500 from Rs 2,200.
  • Fund raising to raise current fiscals CET-1 to 15.3% and the next financial year’s book value by 15%.
  • Bank well placed to show strong growth.
  • Expect system loan growth to pick up to low-double-digits in the next financial year.
  • HDFC Bank remains a compounder with earnings rising at above 20%.
  • Capital raise provides an opportunity for multiple rerating.

Deutsche Bank on Ramco Cement:

  • Downgraded to ‘Hold’ from ‘Buy’; cut price target to Rs 750 from Rs 790.
  • Weak demand and prices in South Indian affects medium-term outlook.
  • Rising energy cost to impact margins.
  • Cut earnings per share for the financial years through March 2020 by 5-8%; Expect 9% compounded rate in volume by 9%.
  • Like longer-term strategy of de-risking business model and expanding in East.
  • Prefer Dalmia Bharat and Shree Cement where risk-reward is more attractive.

Jefferies on Petronet LNG:

  • Maintained ‘Hold’; raised price target to Rs 290 from Rs 280.
  • Gorgon contract may cut LNG import price by $1 per mmbtu.
  • Renegotiation was widely expected.
  • Expect volume, earnings per share to grow at a compounded rate of 4.4% and 11% respectively by March 2021.
  • Volume growth may ease after March.
  • Like the business but valuations limit upside.

Nomura on Coal India:

  • Maintained ‘Neutral’; raised price target to Rs 283 from Rs 260.
  • Indirect coal price hike to result in 3% annual revenue hike.
  • Earnings set to recover, but valuation not compelling.
  • Earnings per share estimates for the next two financial years raised by 4% and 6% respectively to factor in hike.
  • Expect dividend per share of Rs 14 and Rs 19 for the current and the next financial year.

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FIIs net buy Stock Futures worth Rs1150cr : CapitalHeight Updates

CapitalHeight Updates & Review, CapitalHeight Review, CapitalHeight Complain, CapitalHeight Complaint, CapitalHeight, bank nifty levels, bank nifty support levels, CapitalHeight Complain, Capitalheight Complaint, clossing bell, daily nifty, free nifty live, free nifty tips, free nifty view, Indian Rupee Update, nifty, nifty down, nifty index, nifty live, Nifty Market Trend, nifty market trends, nifty related news, nifty report, nifty support, nifty support levels, nifty up, nifty up or down, nifty view today, nifty50, nifty50 newsForeign institutional investors (FII) net bought stock futures worth Rs1150cr and net sold index futures worth Rs350cr on the NSE on Wednesday.

FIIs net bought index options worth Rs1630cr.

FIIs net sold Indian shares worth Rs1505cr on the BSE, NSE, and the Metropolitan Stock Exchange combined

Domestic institutional investors (DII) net bought shares worth 1.5 bln rupees, according to provisional data on the NSE website.

The December futures of Nifty 50 ended at a 25.95-point premium to the spot index, and open interest in the contract fell 1.26% to 19.29 mln.

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Most Indian ADRs ended on a Higher Note : CapitalHeight News

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Most American Depository Receipts (ADR) of Indian companies ended higher on Wednesday even as US markets ended on a tepid note.

Prominent gainers included HDFC Bank, Sify and Vedanta which ended up 0.5-13.6%.

While, ADRs of MakeMyTrip, Yatra Online and Dr. Reddy’s Laboratories ended down 0.3-2.0%.

US share indices ended marginally down on Wednesday, as the positive impact of the passage of the US tax cut bill was already factored in by investors.

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Top Stocks in Focus Today: CapitalHeight Review

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Dalmia Bharat to acquire bankrupt Murli Industries for Rs350cr.

RIL-owned Reliance Jio Infocomm has emerged the front-runner to acquire the assets of debt-ridden Reliance Communications. The company are said to meet as early as this week to decide on converting part of the debt owed to them into equity.

Bharti Airtel says Tanzanian government said Airtel’s local unit belongs to state-owned Tanzania Telecommunications Company.

Bharat Petroleum stock in focus today. Government is yet to take a decision on BPCL’s proposal to integrate with GAIL India or Oil India, Oil Minister Dharmendra Pradhan said.

IVRCL entered into a pact with Cube Highways and Infrastructure to sell two arms for Rs730cr.

Coal India is looking to buy stake in overseas coking coal mines.

SEBI ordered a forensic audit of Pincon Spirit.

HDFC sold a 6.3% stake in Computer Age Management System (CAMS) to Warburg Pincus for Rs210cr as part of the American private equity fund’s deal to purchase a significant minority stake from all the shareholders of the company.

Srikalahasthi Pipes’ QIP opens at a floor price of Rs379.3 per share.

Kridhan Infra QIP opens at a floor price of Rs102.82 per share.

The Reserve Bank of India has imposed certain restrictions on Bank of India and United Bank of India due to a sharp rise in non-performing loans and erosion in capital. On Wednesday, both banks said that RBI triggered prompt corrective action (PCA) wherein the regulator monitors their performance.

Textile stocks in focus today. Cabinet approves a Rs1,300cr programme for the textile sector.

Pidilite to consider share buyback on Dec. 26.

SQS India says Assystem Services made an open offer to acquire 27.82 lakh shares, or 26% stake at Rs 475.27 each.

Varun Beverages to acquire PepsiCo India’s franchised sub territory in Jharkhand.

DPSC two day offer for sale starts today.

Balkrishna Industries ex-date for 1:1 bonus. F&O lot size revised to 800.

Castrol ex-date for 1:1 bonus. F&O lot size revised to 2,800.

M&M ex-date for 1:1 bonus. F&O lot size revised to 1,000.

Vakrangee ex-date for 1:1 bonus.

General Insurance Corp has received approval to set up a syndicate at Lloyd’s of London. The development is seen helping GIC Re broaden and diversify its international portfolio.

Ashish Kacholia on Wednesday sold 1.5 lakh shares or 0.9% stake in Lokesh Machines at Rs73.8 per share. Kacholia held 2 lakh shares, or 1.17% stake, in Lokesh Machines at the end of the September quarter, while Sushmita Ashish Kacholia held 7.75 lakh shares, or 4.55% stake, in the company.

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CH Stock Market Opening Bell 21-December-2017

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CH OPENING BELL:

NIFTY FUTURE DOWN 3 @ 10466

BANK NIFTY FUTURE DOWN 20 @ 25642

SENSEX UP 58 @ 33835

INR 64.08

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International Market Update by Money CapitalHeight

CH: INTERNATIONAL MARKET UPDATE

GOLD $ 1271.50

SILVER $ 16.27

COPPER $ 3.19

CRUDE $ 58.05

INR 64.01

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