The outlook is a subdued start. Market will react to the macro numbers which came in late last evening. Showing some improvement, the fiscal deficit in the first two months of current fiscal stood at Rs. 2.08 lakh crore or 37.5% of Budget Estimates (BE) for FY16 compared with 45.3% in the previous fiscal.
Greece and its creditors may have run out of luck and there is hard work for all to do to restore sentiment. The eurozone-funded portion of Greece's $272 billion rescue deal officially passed without no deal to extend the program. Greece is now in arrears after missing payment and any refinancing will be done only after arrears are cleared even as the country has sought a 2-year bailout program from European Stability Mechanism.
The outlook is a subdued start. Market will react to the macro numbers which came in late last evening. Showing some improvement, the fiscal deficit in the first two months of current fiscal stood at Rs. 2.08 lakh crore or 37.5% of Budget Estimates (BE) for FY16 compared with 45.3% in the previous fiscal. The combined Index of Eight Core Industries stands at 178.6 in May, 2015, which was 4.4 % higher compared to the index of May, 2014. Its cumulative growth during April to May, 2015-16 was 2.1 %. Other data to watch out for would be India’s manufacturing PMI, Eurozone PMI and US jobs data. Focus will also be on what the PM has to say while inaugurating the Digital India Week where leading lights of corporate India will be in attendance.
OMCs will be in focus today after Petrol price was cut by Rs. 0.31/L and diesel prices dropped by Rs 0.71/L. Since last price change, there has been a decrease in international prices of both Petrol & Diesel. INR-USD exchange rate has appreciated during this period. Meanwhile, oil futures ended the first half of the year with ‘hefty’ gains as the deadline for a final agreement over Iran’s nuclear program extended by a week. Brent crude for August delivery LCOQ5, rose $1.58, or 2.6%, to $63.59 a barrel on London’s ICE Futures exchange. Prices were close to 11% higher year to date, a report stated.
In its latest Global Economic Outlook (GEO) Fitch Ratings forecasts the global economy will grow by 2.4% in 2015, followed by 2.9% in 2016 and 2.8% in 2017, the new horizon added to the forecast. The pick-up in 2016 reflects a recovery from recession in Brazil and Russia, albeit a weak one; while the structural slowdown in China is weighing on global growth potential. Meanwhile we forecast growth in major advanced economies (MAEs) at 1.8% in 2015, 2% in 2016 and 1.8% in 2017.
Life Insurance Corporation, the country's biggest insurer, is under the government's scanner for alleged nexus between top company officials and brokers for making gains at the expense of the institution. In response to an application filed under the Right to Information Act, the finance ministry said that "the matter is being examined," a report in ET stated.
Meanwhile, as US. investors have been panicking over a potential Greek collapse, Puerto Rico’s governor Sunday announced that the small U.S. territory cannot pay its roughly $72 billion in debt, says a report.
Fitch Ratings has downgraded Greece's credit ratings deeper into junk territory, warning that a potential exit from the eurozone would likely be disorderly.
IndiGo, Teamlease and Infibeam have lined up public offers to raise an estimated over Rs, 3,000 crore from investors, according to reports. A report says that the draft papers for IPOs were being submitted to capital markets regulator Sebi today.
InterGlobe Enterprises, which runs the country's biggest airline by market share under 'IndiGo' brand, is planning to raise Rs. 2,000-2,500 crore through the IPO, ,
Teamlease is also planning to raise Rs. 450-500 crore and Infibeam about Rs. 400 crore via IPO, says report.
The Maharashtra government has signed an MoU with Blackstone and Panchsil SPV for three projects worth Rs 4,500 crore and generation of some 50,000 jobs, Chief Minister Devendra Fadnavis tweeted.
LIC Housing Finance has put Orbit Corporation's premium residential project in Andheri suburb of Mumbai on block to recover dues, according to reports.
Srei Infrastructure Finance Limited is proposing a public issue of secured, redeemable, non-convertible debentures ("NCDs") of face value of Rs 1,000 each amounting up to Rs 2,000 million ("Base Issue Size"), with an option to retain over-subscription upto Rs 10,000 million (The "Overall Issue Size")(Tranche 2 Issue) within the Residual Shelf Limit, i.e., up to Rs 11,738.569 million.
The Annual General Meeting of the shareholders of Federal Bank has approved the proposal of the Board of Directors to issue Bonus shares in the ratio of 1:1.
Nestle India surged 4.5 percent to Rs. 6,340 after the Bombay High Court ruled in favour of the company allowing it continue the export of MAGGI noodles. The Court has fixed 14 July, 2015, as the next date for hearing the matter.
Glenmark Pharmaceuticals was up over 2 percent at Rs. 993 on news report that the company has received US FDA nod for cholesterol tablet Ezetimibe.
Brigade Enterprises zoomed 10 percent to Rs. 149 after a subsidiary of the company acquired property admeasuring 15 acres 86 cents located at Perungudi on OMR, Chennai from Kansai Nerolac Paints for Rs. 550 crore.
Jubilant FoodWorks jumped 0.8 percent to Rs. 1,854 after the Allahabad High Court approved the scheme of arrangement between the company and JCPL Consultants & Management.
NHPC slipped to a low of Rs. 19.35 after the company announced that it’s the Chutak Power Station, in Kargil area at Jammu & Kashmir was completely shut down consequent to sudden increase in water level in Unit No. 3 & 4 on 28 June, 2015. The stock, however, ended 0.3 percent to Rs. 19.65.
Reliance Communications (RCom) surged to a high of Rs. 63.60 after the company in a clarification to the BSE confirmed that it is in talks with American Tower Company (ATC) and Carlyle to sell majority stake in its tower subsidiary Reliance Infratel this fiscal. The stock finally ended unchanged at Rs. 61.80.
Bank of India and Canara Bank declined 0.7 percent and 2.7 percent each to Rs. 171 and Rs. 277, respectively on the back of ratings downgrade by Moody's Investors Service. According to reports, the ratings agency has downgraded both the banks by a notch down in terms of Baseline Credit Assessments (BCAs), an indication of intrinsic or standalone financial strength of the company.
Voltas plunged 4.5 percent to Rs. 315 on foreign brokerage firm Nomura downgraded the stock to 'Reduce' from 'Buy' rating. The investment firm has also cut its price target to Rs. 265 for the stock.
Gammon Infrastructure Projects was locked at the 20% upper circuit at Rs. 12.82 after the company informed BSE, that Indira Container Terminal Private
(‘ICTPL'), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal for alternative use of the Offshore Container Terminal for
Roll-on/Roll-off operations, i.e. operations of providing facilities to the importers and exporters of automobiles and self-propelled equipment, for a period of one
year from the date of operation with revenue share of 45 percent to ICTPL and 55 per cent to MbPT.
Bank of Maharashtra advanced 1.3 percent to Rs. 35.90 on announcing tie-up with MUDRA Bank to finance new entrepreneurs and small businesses. To government aims to facilitate credit up to Rs 1 lakh crore under MUDRA scheme this fiscal year.
Vascon Engineers rallied 6% to Rs. 18.80 after the company's board proposed issue of equity shares on rights basis for an amount not exceeding Rs. 100 crore in the ratio of 14 rights shares for every 19 equity shares held as per the Record Date of 24 June, 2015.
Suven Life Sciences jumped 3% to Rs. 233 after the company informed BSE that it has secured three product patents in Israel, Japan and South Africa corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.
Firstsource Solutions ended with a gain of a percent at Rs. 29.75. According to a release issued by the company to the BSE, the company US-based subsidiary,
Marksans Pharma soared 7.7% to Rs. 63.25 after the company said it acquired 100 percent of the outstanding shares of Time-Cap Laboratories, a New York based firm.
Deep Industries zoomed over 13 percent to Rs. 87.50 after the company signed the contract with ONGC worth Rs. 278.19 crore. Deep Industries has signed the contract for hiring of Dehydration System for 5 production installations at their Rajahmundry Assets for a period of three years.
Global Data: Canada Day CAD, NBS Manufacturing PMI (Jun) CNY, Non-manufacturing PMI (Jun) CNY, Building Permits (MoM) (May) AUD, Building Permits (YoY) (May) AUD, Nomura/ JMMA Manufacturing Purchasing Manager Index (Jun) JPY, HSBC Manufacturing PMI (Jun) CNY, Vehicle Sales (YoY) (Jun) JPY, RBA Commodity Index SDR (YoY) (Jun) AUD, Markit Manufacturing PMI (Jun) EUR, SVME - Purchasing Managers' Index (Jun) CHF, Markit Manufacturing PMI (Jun) EUR, Markit Manufacturing PMI (Jun) EUR, Markit Manufacturing PMI (Jun) EUR, Public Deficit/GDP (Q1) EUR, Markit Manufacturing PMI (Jun) EUR, Markit Manufacturing PMI (Jun) EUR, Markit Manufacturing PMI (Jun) GBP, Financial Stability Report GBP MBA Mortgage Applications (Jun 26) USD, Challenger Job Cuts (YoY) (Jun) USD, ADP Employment Change (Jun) USD, Markit Manufacturing PMI (Jun) USD, ISM Prices Paid (Jun) USD, ISM Manufacturing PMI (Jun) USD, Construction Spending (MoM) (May) USD, GDT Price Index NZD, EIA Crude Oil Stocks change (Jun 26) USD, Total Vehicle Sales (Jun) USD, Monetary Base (YoY) (Jun) JPY, Foreign bond investment (Jun 26) JPY, Foreign investment in Japan stocks (Jun 26) JPY
Trends in FII flows: The FIIs were net sellers of Rs. 5.51 billion in the cash segment on Tuesday. The domestic institutional investors (DIIs) were net buyers of Rs. 5.80 billion as per the provisional figures released by the NSE.
Other news in the media:
The Competition Commission of India (CCI) has given its nod for the proposed merger of Pharma major Pfizer and Hospira, in which the latter has various manufacturing operations in India through its wholly owned subsidiary and in joint venture with Gujarat-based Cadila Healthcare.
Titan Company Limited, has effected major changes in its senior management team, which will come into effect from July 1, 2015. The company's watches & accessories division and eyewear divisions will have new heads.
Power producer JSW Energy is planning to raise up to Rs125bn through issuance of various securities as it eyes organic and inorganic ways to expand business.
Cholamandalam Investment and Finance said it has joined hands with mobile app-based taxi aggregator, Ola, to offer car loans to the latter's drivers with an option of daily repayment scheme instead of a monthly payment.
Bharati Airtel has moved up a position in global rankings to become the third largest mobile operator in the world, in terms of subscribers, the company said in a press release. It now has 303 million customers across 20 countries.
Mahindra and Mahindra has set up an Africa-focused business unit as it looks to maintain double-digit growth levels in the continent, the company said.
Drug firm Suven Life Sciences said it has been granted a patent each by Israel, Japan and South Africa for a drug used to treat neuro-degenerative diseases.
Drug maker Marksans Pharma acquired US-based Time-Cap Laboratories for an undisclosed amount.
LIC Housing Finance will auction an property belonging to property developer Orbit Corporation for default of loans. LIC Housing Finance has kept a reserve price of Rs1.25bn for the 9,083 square metre or over 90,000 sq ft.property.
Worried over continuous decline in exports, the Commerce Ministry is considering interest subsidy benefits for textile sector including garments.
The government is considering imposing 10% import duty on wheat to curb shipments and liquidate poor quality grains lying in FCI godowns.
TEN MOST ACTIVE FUTURES
| Symbol |
No.of Cont Traded
|
Last price
|
Open Interest
|
% chg in Op.Int
|
| RELIANCE |
27,179
|
1,005.45
|
29,487,250
|
2.96
|
| TECHM |
23,042
|
474.20
|
13,927,500
|
9.94
|
| SBIN |
20,563
|
263.90
|
56,872,000
|
-0.72
|
| ICICIBANK |
20,385
|
309.60
|
37,821,000
|
5.32
|
| AXISBANK |
19,454
|
557.10
|
19,477,000
|
4.72
|
| YESBANK |
18,427
|
847.45
|
9,679,250
|
1.55
|
| HDFCBANK |
17,488
|
1,064.25
|
28,048,500
|
1.48
|
| SUNPHARMA |
15,891
|
877.90
|
14,310,750
|
-3.09
|
| LUPIN |
14,846
|
1,882.45
|
3,957,375
|
3.12
|
| TATAMOTORS |
13,517
|
434.25
|
28,347,000
|
0.24
|
TEN MOST ACTIVE OPTIONS
Option Type
|
Strike price
|
No.of Cont Traded
|
Open Interest
|
% Chg in Op.In
| |
| RELIANCE |
CE
|
1,000
|
5,022
|
992,000
|
4.81
|
| SBIN |
CE
|
270
|
4,623
|
2,774,000
|
-4.61
|
| SBIN |
CE
|
280
|
4,073
|
3,307,000
|
31.70
|
| RELIANCE |
CE
|
1,020
|
2,572
|
492,000
|
16.59
|
| LT |
CE
|
1,800
|
2,533
|
171,875
|
1.25
|
| ASHOKLEY |
CE
|
75
|
2,086
|
3,740,000
|
55.32
|
| LUPIN |
CE
|
1,900
|
2,039
|
71,625
|
20.89
|
| NTPC |
CE
|
150
|
1,955
|
1,578,000
|
598.23
|
| LUPIN |
CE
|
1,850
|
1,921
|
45,000
|
-48.57
|
| RELIANCE |
CE
|
1,040
|
1,912
|
519,000
|
4.37
|
SUPPORT & RESISTANCE LEVEL
| Company Name |
S3
|
S2
|
S1
|
Close
|
R1
|
R2
|
R3
|
| Sensex Index |
27,620
|
27,659
|
27,700
|
27,781
|
27,861
|
27,903
|
27,942
|
| Nifty Index |
8,316
|
8,329
|
8,342
|
8,369
|
8,395
|
8,408
|
8,421
|
| ABB Ltd |
1,312
|
1,315
|
1,318
|
1,323
|
1,328
|
1,331
|
1,333
|
| ACC |
1,413
|
1,420
|
1,427
|
1,441
|
1,455
|
1,462
|
1,468
|
| Ambuja Cements |
226
|
227
|
228
|
230
|
231
|
232
|
233
|
| Bajaj Holdings |
1,427
|
1,434
|
1,441
|
1,456
|
1,471
|
1,478
|
1,485
|
| BHEL |
245
|
245
|
246
|
248
|
249
|
250
|
251
|
| Bharti Airte |
415
|
416
|
417
|
420
|
422
|
424
|
425
|
| Cipla |
609
|
610
|
612
|
616
|
620
|
622
|
624
|
| Dabur India |
276
|
277
|
278
|
280
|
282
|
283
|
284
|
| GAIL India |
385
|
387
|
388
|
392
|
396
|
398
|
399
|
| Grasim Ind. |
3,373
|
3,389
|
3,407
|
3,442
|
3,476
|
3,494
|
3,511
|
| HCL Tech |
908
|
911
|
915
|
921
|
928
|
931
|
934
|
| HDFC Bank |
1,052
|
1,056
|
1,060
|
1,067
|
1,075
|
1,079
|
1,083
|
| Hero Honda |
2,493
|
2,500
|
2,509
|
2,524
|
2,540
|
2,548
|
2,556
|
| Hindalco |
111
|
111
|
111
|
112
|
113
|
113
|
113
|
| Hindustan Unilever |
905
|
908
|
911
|
916
|
922
|
925
|
928
|
| ICICI Bank |
302
|
303
|
305
|
308
|
311
|
313
|
314
|
| Infosys Tech |
979
|
980
|
982
|
985
|
989
|
990
|
992
|
| ITC Ltd |
311
|
312
|
313
|
315
|
317
|
318
|
319
|
| L&T |
1,757
|
1,763
|
1,770
|
1,783
|
1,796
|
1,803
|
1,809
|
| MTNL |
16
|
16
|
16
|
16
|
16
|
16
|
16
|
| M&M |
1,265
|
1,269
|
1,273
|
1,281
|
1,289
|
1,294
|
1,298
|
| Maruti Suzuki |
3,977
|
3,988
|
4,000
|
4,023
|
4,045
|
4,057
|
4,068
|
| Mahindra Satyam |
465
|
468
|
472
|
478
|
485
|
488
|
491
|
| National Alumin |
39
|
40
|
40
|
40
|
40
|
40
|
41
|
| ONGC |
307
|
308
|
308
|
310
|
311
|
312
|
312
|
| Oriental Bank |
165
|
166
|
166
|
168
|
169
|
170
|
170
|
| PNB |
136
|
137
|
138
|
139
|
141
|
141
|
142
|
| Ranbaxy Labs |
857
|
861
|
866
|
874
|
883
|
887
|
891
|
| Reliance Capital |
358
|
359
|
360
|
362
|
364
|
366
|
367
|
| Reliance Comm |
61
|
61
|
61
|
62
|
63
|
63
|
64
|
| Reliance Energy |
379
|
382
|
384
|
388
|
393
|
395
|
397
|
| Reliance Inds |
990
|
993
|
995
|
1,000
|
1,006
|
1,008
|
1,011
|
| R Power |
44
|
44
|
45
|
45
|
45
|
46
|
46
|
| Siemens India |
1,325
|
1,331
|
1,338
|
1,351
|
1,363
|
1,370
|
1,376
|
| SBI |
259
|
260
|
261
|
263
|
265
|
266
|
267
|
| TCS |
2,524
|
2,531
|
2,538
|
2,552
|
2,566
|
2,574
|
2,581
|
| Tata Motors |
423
|
426
|
429
|
435
|
440
|
443
|
446
|
| Tata Power |
73
|
73
|
74
|
74
|
74
|
75
|
75
|
| Tata Steel |
297
|
299
|
301
|
305
|
308
|
310
|
312
|
| Tata comm |
429
|
432
|
436
|
443
|
450
|
454
|
458
|
| Wipro |
538
|
539
|
541
|
544
|
547
|
549
|
551
|
| Wire And Wireless |
35
|
35
|
35
|
35
|
35
|
35
|
35
|
| Zee Entertainment |
359
|
361
|
363
|
367
|
371
|
373
|
375
|
No comments:
Post a Comment