Buy Reliance Industries, Cipla, Yes Bank; sell Bank of Baroda: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Reliance Industries is a purchasing opportunity independently and exclusively. This stock obviously was in an exchanging range for three weeks and is presently ready to go higher; that is the sense I get."


He additionally included, "Cipla is a purchase. There was a tolerable and sensible rectification in the stock and that redress was finished. Recently we had a decent day in Cipla and that is most likely a flag that the uptrend should proceed."
"My old top choice, Hindustan Unilever (HUL) is a purchasing opportunity. We have had three down days in it; it didn't take an interest in this 10,500 record in any event. Be that as it may, there is a restricted range and there is an inside day. So HUL is most likely eager to join that gathering once more."


"Truly Bank has come in purchase list before. After that huge decay, it was level and uniting, and that solidification to me is taking the state of a bullish example. Thus, we are actually purchasing on a plunge on the off chance that we are correct. So Yes Bank is a purchase."


"Bank of Baroda from the PSU banks, is a short offer. Keep short offers just intraday," he included.


Revelation: Reliance Industries Ltd. is the sole recipient of Independent Media Trust which controls Network18 Media and Investments Ltd.
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India Inc profit dips 11% in Q1 on GST destocking

The impending goods and services tax (GST) regime has made a dent on India Inc' earnings for the April-June period, with profit growth falling to a five quarter low of 11 per cent, says a Morgan Stanley report. 

According to the global brokerage firm, GST, which was executed on July 1, adversely affected net profits growth for the first quarter of the current fiscal, with companies in the materials, consumer discretionary sharing bulk of the burden. 

Financials, utilities, technology and telecom sector companies did not report impact of GST on their earnings either in their earnings release or the management commentary. 

However, corporates' revenues saw strong growth at 10 per cent, the highest in last 12 quarters, for April-June period of 2017, compared to same period year-ago. 

At the sector level, commodity linked sectors (energy, materials and utilities) and industrials reported the strongest revenue growth, while telecom, consumer discretionary saw the most decline in net profits. 

For an even broader sample of 2,629 companies, revenue rose 9 per cent and net profit growth fell 11 per cent year-on-year, it said. 

Further, Sensex companies saw revenue growth of 5 per cent and fall in net profit growth of 6 per cent, for the period under review .

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RBI halves dividend payout in FY17

The Reserve Bank of India (RBI) has halved its yearly dividend transfer to the government at Rs 30,659 crore for financial year 2016-17, potentially upsetting the government’s fiscal math this year.

The government had budgeted to earn about Rs 58,000 crore as dividend from the RBI, and the lower payout may force the Centre to borrow more from the market, widening the fiscal deficit for 2017-18.

The lower dividend payout also ran counter to the widely held view that demonetisation and unreturned currency notes could lead to a windfall for the government through special dividends.

The RBI, which follows a July-June financial year, had paid Rs 65,876 crore as dividends to the government for 2015-16. The sharp drop in dividend payout has baffled analysts, amid expectations of a significant jump in the central bank’s dividend transfer to the Centre because of demonetisation.

In March, the Parliament enacted the Specified Bank Notes (Cessation of Liabilities) law. The government withdrew more than Rs 15 lakh crore from the system by outlawing old Rs 500 and Rs 1,000 notes.

While the final value of unreturned money has not been disclosed yet, the new law was aimed at enabling the RBI to write off unreturned amount from its balance sheet. The written-off amount, under the law, can be transferred to the government as a special dividend.

At the end of each financial year, RBI transfers the surplus generated from its functions to the government after accounting for any funds transferred to the contingency reserve or the asset development fund.

Over the past two years, the RBI transferred the entire surplus generated to the government via the dividend.

RBI's operations are not guided by a profit motive but providing adequate liquidity and foreign currency and maintaining orderly conditions in the market.

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Nifty forms Head & Shoulder pattern, weakness to persist for sometime

The Nifty50 dropped for the third session in a row on Wednesday to close a tad above the 9,900 level. The index started forming lower tops and lower bottoms, while it may have also formed a ‘Head & Shoulder’ pattern on the daily charts. This signals more correction ahead, probably towards the 9,800 mark in the near term. 

On Wednesday, the Nifty50 tumbled as soon as the opening bell rang. At no point during the session did the index enter the positive terrain. The 50-pack index closed the day at 9,908, down 70.50 points, or 0.71 %. 

Mazhar Mohammad, Chief Strategist for Technical Research & Trading Advisory, Chartviewindia.in, said any follow-through selloff on Thursday could eventually drag the index towards its 50-day moving average placed around the 9,768 level. 

Mazhar advised traders to avoid buying on dips for the time being as they would be better off waiting for some initial signs of strength. 

Sacchitanand Uttekar, AVP, Technicals (Equity), Tradebulls, said that a Head & Shoulder formation seems to have emerged on the daily charts. 

“The index registered consecutive firm close below its neckline. The pattern indicates a target up to 9,800. A follow-through move below 9,800 could amplify the bearish momentum. As we expect the seasonality effect to be sip in during the current series, participants are advised to book profit where possible and wait for this corrective wave to pass,” Utekar said. 

Sameet Chavan of Angel Broking advised investors to use any bounce back towards 9,960-9,990 zone to move out of existing positions. “This corrective move is likely to extend towards the 9,870-9,820 zone,” he said. 

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5 stocks which can give up to 14% return

New highs appear to be the flavour of the season across the global financial markets as Nifty50 also partook in it with a record high of 10,000 plus levels.

There are many sceptics surrounding the very nature of this bull market at every rise but it has nourished itself on the back of uncertain events like Brexit and demonetisation.

In the near term, based on long term charts, we expect Nifty50 to head towards critical resistance zone of 10,350 – 10,500 levels and certainly as of now there are no signs of big crashes or corrections.

Trade is clearly visible on the long side as there is no evidence for reversal even on lower time frame charts and bulls appears to have extended their life line further as Nifty50 comfortably trading above historical landmark of 10,000 levels on closing basis.

JSW Steel: BUY| Target Rs249| Stop Loss Rs220| Return 9%

Metals as a pack is looking quite interesting for some time and JSW appears to be leading this pack with new life time highs.

Hence, traders can look into this opportunity for a target of 249 with a stop below 220 on the closing basis.

IndusInd Bank: BUY|Target Rs1747|Stop Loss Rs1630| Return 5%

Two weeks back this counter registered a new life time with a channel breakout which has thrown up a new target placed around Rs750 levels.

Friday’s move, after 2 days of corrective swing, from the lows of Rs1,640 is suggesting that it might have resumed its upswing. Hence, traders can look into this opportunity for a target of Rs1,747 with a stop of Rs1,630.

Divis Laboratories: BUY|Target Rs760| Stop Loss Rs647| Return 11%

Surprisingly, this counter remained indifferent to the carnage witnessed in the largecap pharma space suggesting that it has decoupled itself with the negativity surrounding in the sector.

Hence there is a higher probability of it resuming its uptrend and target Rs760 kind of levels. Traders are advised to maintain a stop loss below Rs647.

PVR: BUY| Target Rs1465| Stop Loss Rs1367| Return 4%

The stock saw recent drubbing from the highs of Rs1,600 found this counter taking support around its 200-day moving averages (DMA) and it appears that it is placed at a recent low of Rs1,318. It has bottomed out and embarked on a short term uptrend.

Hence, should look into this opportunity for a target of Rs1465 with a stop of Rs1367.

Escorts: BUY|Target Rs767|Stop Loss Rs630| Return 14%

The rally from the recent low of Rs635 on high volumes on the back of decent result and double bottom kind of technical formation is signalling the end of the corrective swing which is in place from the highs of Rs767.

Hence, traders should make use of the current dips to create long positions for a target of Rs767 and a stop loss of Rs630.

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Govt raises Rs 535 cr from NFL share sale

The government's 15 per cent stake sale in National Fertilizers Ltd (NFL) today fetched Rs 535 crore to the exchequer, with over-subscription from both retail and institutional investors.

The two-day offer for sale (OFS) opened for retail investors today and was over-subscribed 1.66 times.

Against Rs 107 crore reserved for retail investors, total bids of Rs 178.67 crore were received.

Institutional investors' portion was over-subscribed 1.35 times yesterday with bids worth Rs 578.8 crore coming in against shares for value of Rs 428.57 crore at the floor price.

"Overall, NFL OFS for 15 per cent divestment for equity shares of 7.35 crore amounting to Rs 535.71 crore at the floor price Rs 72.80 per share, received a total demand for equity shares amounting to Rs 757.45 crore. Therefore, the OFS of NFL was over-subscribed by 1.41 times," the Finance ministry said in a statement.

This is the third CPSE OFS in the current financial year, and the government is likely to get Rs 535 crore approximately, it added.

The government shareholding in NFL after this OFS has come down to 74.71%.

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Today Maruti Suzuki Q1 results

Today Country’s largest carmaker Maruti Suzuki may report double-digit growth in net profit for the quarter ended June 30, 2017. 

Brokerage firm Edelweiss Securities sees 20.60 per cent YoY rise profit after tax, while EBITDA and revenue may increase by 16 per cent and 16.40 per cent on YoY basis. 

Market experts see volume growth of 13 per cent YoY (and 5 per cent QoQ) to around 3,94,571 units, led by better performance from Baleno and Brezza with incremental Gujarat production, though slightly impacted by GST transition. 

Shares of the company settled 0.84 per cent up at Rs 7577.95 on Wednesday. 

According to brokerage Motilal Oswal, the car major may post 9.5 per cent YoY rise in bottomline figures at Rs 1,627.40 crore against Rs 1486.20 crore in the same quarter last year. 

Motial Oswal sees 110 basis points YoY fall in EBITDA margins due to the impact of Gujarat plant and higher fixed cost due to same. Higher offers due to GST transition would also impact margins. 

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Nifty50 can scale Mt 1,00,000! Market veterans wager on time

It sounded absurd way back in 2001. The Nifty50 was ruling at sub-1,000 level right after the dotcom bubble burst. Who would have thought it would jump 10 times to hit 10,000 mark in next 16 years? 

But what about the next 10-times rise, to 1,00,000 mark? Will it take 15 years? 20 years? Or more? 

Analysts believe even if India Inc’s earnings grow in lower teens from here on, the index can climb the six-digit mark in just about 15 years. 

Historically, Nifty50’s earnings growth has been in the 15-17 per cent range. 

“Going forward, it will be a function of inflation and real GDP growth. Even if we see an early teens kind of compounding, that is something very much doable, we should grow another 10 times to reach the 1,00,000 mark on the Nifty50 over the next 15 to 20 years. That is something to look forward to for long-term investors,” said Gautam Sinha Roy, Fund Manager at Motilal Oswal Mutual Fund. 

What kind of wealth creation happens for investors in such a run will depend entirely on how much alpha fund managers can add. “Nifty hitting 10,000 is indeed a very momentous event, although it is more of psychological than anything else,” said Sinha Roy. 

For Porinju Veliyath, MD, Equity Intelligence India, the 10,000 mark is just a number. What he is interested in is the next 5-10 years. 

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Share Market Morning Update

Indian market witnessed a volatility week as benchmark indices closed marginally higher but over their crucial support levels. The Nifty50 closed 0.29 percent higher at 9,915 and the S&P BSE Sensex ended above 32,000 for the week ended 21 July.

The Nifty50 index is trading at its all-time high and the recent up move in the index has not been supported by broad market participation which in itself is a concern. It looks like that Indian market might be trading in last leg of its rally, suggest experts.

We have collated a list of top five stock ideas which could give up to 14% return in the next 5 sessions to 2 months:

Manappuram Finance: BUY| Target Rs119| Stop Loss Rs97| Return 14%

In last few months, this stock has consolidated in a broad range of Rs88-105. The prices are on the verge of a breakout from the resistance end of the mentioned range. In last few sessions, the volumes have increased with upmove in prices, which is a positive sign.

Hence, traders are advised to buy this stock at current levels and on declines up to Rs 104.50 for a target of Rs 119 over the next 14 – 21 sessions. The stop loss should be fixed at Rs 97.

IndusInd bank: SELL| Target Rs1518| Stop Loss Rs1599| Return 3%

This has been one of the steady outperforming stocks within the ‘Private’ banking space. At present, the stock is trading near its all time high; but, we are now observing a possibility of some short term correction.

Karnataka Bank: SELL| Target Rs142| Stop Loss Rs161| Return 9%

Post a stupendous up move from the levels of Rs100 to Rs180 in a span of less than seven months, the prices have undergone a consolidation phase since last few weeks.

Hence, traders are advised to sell this stock below Rs155 for a target of Rs 142 in short term. The stop loss should be fixed at Rs 161.

Container Corp: BUY| Target Rs1270| Stop Loss Rs1120| Return 7%

The stock closed at Rs1,180.55 on 21st July 2017. It made a 52-week low at Rs8,44.45 on 21st December 2016 and a 52-week high of Rs1,251.60 on 23rd May 2017. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently at Rs1,097.47

Traders can buy in the range of Rs 1,165-1,170 levels for the upside target of Rs 1,270-1,300 levels with a stop loss below Rs 1,120.

Bharti Infratel: BUY| Target Rs460| Stop Loss Rs 375| Return 12%

The stock closed at Rs410.30 on 21st July 2017. It made a 52-week low at Rs281.75 on 28th February 2017 and a 52-week high of Rs424.75 on 18th July 2017. The 200-days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 363.59.

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Asian Research House Investment Advisor

I-T dept detects Rs 19,000 crore black money

The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the government said on Friday.

Finance Minister Arun Jaitley said investigations into information, put into public domain by the ICIJ, pertaining to about 700 Indian persons allegedly linked to offshore entities based on no tax or low tax jurisdiction, have led to detection of more than Rs 11,010 crore of credits in undisclosed foreign accounts.

"72 prosecution complaints in 31 such cases have been filed before the criminal courts," he informed the Lok Sabha.

The government constituted a multi-agency group (MAG) in April 2016 for facilitation coordinated and speedy investigation in the cases of Indian persons allegedly having undisclosed foreign assets and whose names were reportedly included in Panama papers leak.

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Base Metals Down on weak demand

Lead futures shed 0.79%, hurt by muted spot demand 

Lead prices were down 0.79 per cent to Rs 150.20 per kg in futures trading today as participants reduced their exposure amid subdued demand from consuming industries in the spot market. 

At the Multi Commodity Exchange, lead for delivery in July declined by Rs 1.20, or 0.79 per cent, to Rs 150.20 per kg, in a business turnover of 889 lots. 

Likewise, the metal for delivery in August shed Rs 1 shed Rs 1.10, or 0.72 per cent, to Rs 151 per kg in two lots. 

Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets. 

Nickel futures fall as muted demand hurts 

Amid muted demand at domestic spot markets and profit-booking by speculators nickel prices dropped 1.47 per cent to Rs 598 per kg in futures trade today. 

At the Multi Commodity Exchange, nickel for delivery in July was trading Rs 8.90, or 1.47 per cent down, at Rs 598 per kg, in a business turnover of 2,314 lots. 

The metal for delivery in August also shed Rs 8.90, or 1.45 per cent, to Rs 603.20 per kg, in a turnover of 106 lots. 

Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend at the domestic spot markets due to easing demand from alloy-makers. 

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GST: What could get costlier, what could get cheaper

Here’s how prices of goods could move after the new GST rates kick-in from Today July 1, 2017.

Cheaper Meals

A restaurant bill now is a complex jumble of food costs, taxes on food and alcohol and services, cesses and service charges. After GST, you may expect eating out to be cheaper as a single tax will replace a welter of levies.

Costlier Calls

Your phone calls may become costlier. Phone bills will likely attract an 18 percent GST rate compared to the current 15 percent (including cesses).

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Sensex flat, but over 100 stocks hit 52-week high

After a strong rally seen in the previous trading session, the S&P BSE Sensex ended the session on a flat note. But there was plenty of action in individual stocks which rose up to 17 percent.

As much as 109 stocks rose to fresh 52-week highs on the BSE which include names like Disa India, Can Fin Homes, Balkrishna Industries, BEML, Bajaj Finance, UPL, Gulf Oil Lubricants, LIC Housing Finance, Godrej Industries, and GIC Housing Finance.

Stocks like Hilton Metal rose 17 percent, followed by B L Kashyap which rallied 12 percent, Bharat Bijlee rose 10 percent and Roto Pumps surged 10.4 percent on Tuesday.

The Nifty which made a bullish candle in the previous trading session held onto its crucial psychological support level of 9650. Although it rose in morning trade but has now pared gains.

As much as 70 stocks on the NSE touched its fresh 52-week highs which include names like UPL, GMR Infrastructure, L&T Infotech, Tata Investments, Astral Poly, Phillips Carbon, NIIT Technologies, Swelect Energy, and Indian Hume Pipe.

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Stocks which could give up to 10% return

Nifty50’s behaviour after registering lifetime highs of 9709 levels, has confused the majority of the market participants as it slowly started drifting down for last 9 trading sessions albeit with a minimum price damage.

Investors can initiate long positions once Nifty50 closes above 9,600-9,620 on a closing basis. However, if the index holds below 9,580, selling pressure could drag the index towards 9,550-9,530.

Hence, in anticipation of such a positive development traders can look into following stock specific ideas for next week.

Cummins India: BUY| Target Rs 1020| Stop Loss Rs887| Return 10%

After the recent drubbing from the highs of 1070, this counter appears to be consolidating around 900 levels from where a decent bounce back can be expected with an initial target of Rs959 levels.

Shriram Transport Finance: BUY| Target Rs 1010| Stop Loss Rs940| Return 2%

After retracing around 80 percent of its last leg of the rally from the lows of 933 to 1042 this counter has registered a reversal formation called piercing pattern on candlestick charts which shall have a positive repercussion going forward for this counter.

Reliance Industrial Infrastructure Ltd: BUY| Target Rs 485| Stop Loss Rs445| Return 5%

This counter has witnessed a breakout above its consolidation zone of Rs440 – 414 on relative much higher volumes suggesting it may be in for a bigger move.

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