Book profits at higher levels; 4 stocks which could give up to 11% return

The Indian equity market witnessed a strong uptrend rally despite a negative momentum during the early weekday session on the backdrop of the election result.

The Nifty index managed to close above a crucial hurdle placed at 10,400 levels last week which enabled the index to breakout with a record high level at 10,501 but it failed to sustain above that level. However, the index closed on the positive trajectory at 10,493.

On the daily price chart, the index formed a hard bull candlestick pattern after consolidating for the past two sessions, indicating a possibility of a rally in the upcoming session.



Further, the force pointer turned positive with the relative quality record (RSI) at 63 step up from prior zone combined with MACD still over its Signal Line.

Given an unstable week in front of F&O expiry, the file is relied upon to exchange with the rangebound level at 10,550 on upside and 10,410 levels on the drawback.

In any case, it should support over 10,450 levels to proceed with the uptrend rally. We encourage financial specialists to book benefits at a more elevated amount in front of new arrangement.

Here is a rundown of best 4 stocks which could offer up to 11% return for the time being:

Puravankara Projects Ltd: BUY| Target Rs195 | Stop-misfortune Rs160 | Return 11%

Puravankara Projects exchanged on uptrend direction for a large portion of the session regardless of a minor solidification on specific levels.

Despite the fact that exchanging on level energy amid the early weekday's session, the stock saw a solid volume development towards the last exchanging session to enroll 52-week high at 182 levels however neglect to manage.

Notwithstanding, it figured out how to close the session with 5.07 percent pick up on an intraday premise. On the week by week value outline, the stock shaped a solid bullish candle design combined with its auxiliary energy showing a solid help for the uptrend.

The scrip likewise saw an essential bullish hybrid demonstrated by MACD which flags a positive pattern. With value exchanging over every one of the levels in the present session, a noteworthy help for the scrip is put at 151 levels and protection level at 182.

We have a BUY proposal for Puravankara which is as of now exchanging at Rs. 176.20

JK Paper Ltd: BUY | Target Rs155 | Stop-misfortune Rs135 |Return 8%

JK Paper saw a solid bullish inversion drift in the wake of solidifying at higher help level put almost 117 and kept on exchanging on uptrend direction.

In spite of exchanging on quieted development amid early session, the value incline bobbed on bullish front combined with volume bolster towards the end of the week and increased around 10 percent on week after week premise.

On the every day value diagram, the scrip shaped a bullish immersing sort of candle design recommending a conceivable up move in the up and coming session. Further, the RSI at 60s levels shows a great purchasing value zone for bulls combined with positive MACD at 5.42 still in place over its Signal Line.

With the present value exchanging most importantly moving normal levels, a noteworthy help for the scrip is seen at Rs133 and protection level is set at Rs159. We have a BUY suggestion for JK Paper which is at present exchanging at Rs143.85

Bombay Rayon Fashions: SELL| Target Rs145 | Stop-misfortune Rs160 | Return 5%

Bombay Rayon kept on confronting headwinds on its every day value development in the wake of enlisting 52-week high and saw a proceeded with free tumble to exchange at bring down level from that point.

In spite of seeing the up move it neglected to maintain and stayed under strain with negative viewpoint combined with bring down volume bolster.

On the week after week value outline, it shaped a solid bearish candle design which is relied upon to hold the stock under strain with no real breakout in here and now.

Further, the cost is at present underneath all the moving normal level combined with bearish hybrid on its energy pointer, along these lines showing a proceeded with negative viewpoint going ahead.

The stock is confronting protection at 168 levels while the help level is seen at 140. We have a SELL suggestion for Bombay Rayon which is presently exchanging at Rs. 152

Dilip Buildcon Ltd: BUY| Target Rs1044 | Stop-misfortune Rs. 978 | Return 5%

Dilip Buildcon saw a solid union at 880-911 levels amid the begin of the month giving a bearish viewpoint in the wake of arousing at a more elevated amount. In any case, amid the present session, the stock remembered from its urgent help level set close to 973 and gave a bullish inversion incline with 9.56 percent pick up on week after week premise.

In the wake of shutting the last session with 7% pick up, the stock framed a bullish candle design, demonstrating a bullish inversion drift in its day by day value diagram.

The force marker with RSI level at 69 additionally proposes a solid help for bullish uptrend combined with MACD demonstrating a bullish hybrid simply occurring at current administration.

Right now, the scrip is confronting a quick protection from its 52-weeks high at 1008 levels took after by 1210 and significant help will be seen at 933 levels. We have a BUY suggestion for Dilip Buildcon which is as of now exchanging at Rs. 993.85.

Disclaimer: The creator is Founder and CEO, 5nance.com. The perspectives and venture tips communicated by speculation master without anyone else and not that of the site or its administration. Moneycontrol.com encourages clients to check with guaranteed specialists before taking any venture choices.
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Sebi tweaks exposure limits for brokers

Sebi modified open interest limits for bank and non-bank stock brokers in currency derivative contracts. 

Besides, the markets regulator has asked stock exchanges to have a uniform methodology for computing and monitoring proprietary position limits in the currency contracts. 

In currency derivatives parlance, open interest generally refers to positions taken by a broker that are yet to be closed. 

USD-INR, EUR-INR, GBP-INR and JPY-INR are among the currency derivative pairs or FCY-INR. 

With respect to bank stock brokers, the single INR limit for proprietary position will be the higher of the 15 per cent total open interest across all FCY-INR pairs or up to USD 200 million, the circular said. 

In the case of non-bank stock brokers, the same will be applicable except for the overall limit being capped at USD 100 million. 

The rupee movement has been volatile in recent weeks amid uncertain global cues. 

Stock exchanges and clearing corporations have to seek Sebi's approval for launching cross-currency derivatives products. 

"Such proposal shall, inter-alia, include the details of contract specifications, risk management framework, surveillance systems, and other requirements," the circular said. 

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TCS regains second most valued firm slot from HDFC Bank

Overtaking HDFC Bank, Tata Consultancy Services (TCS) on Tuesday regained its status as the country's second most valued firm in terms of market capitalization.

Earlier in the day, HDFC Bank had surpassed TCS to become the country's second most valued firm.

However, it slipped to the third position in the ranking chart at the close of trade. In the afternoon trade, market capitalisation (m-cap) of HDFC Bank reached Rs 4,73,530.72 crore, crossing that of TCS was Rs 4,72,733.32 crore.

However, at the close of trade, TCS' market valuation stood at Rs 4,76,045.04 crore, which was Rs 2,578.86 crore more than HDFC Bank's Rs 4,73,466.18 crore valuation.

Shares of TCS went up by 0.94 per cent to close at Rs 2,486.80 on BSE, while HDFC Bank gained 0.62 per cent to end at Rs 1,834.15. Reliance Industries Ltd is the country's most valued firm with a market cap of Rs 5,35,509.87 crore, followed by TCS, HDFC Bank, ITC (Rs 3,38,064.40 crore) and HDFC (Rs 2,86,404.51 crore).

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Three IPOs to hit market this week to raise Rs 6,600 cr

Three companies -- Matrimony.com, Capacit'e Infraprojects and ICICI Lombard -- will launch their initial share sale offers this week to raise about Rs 6,600 crore.

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, will be open from September 11-13.

The IPO comprises fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares.

Matrimony.com, which runs online match-making business under BharatMatrimony brand, among others, is expected to raise over Rs 500 crore.

The price band for the IPO has been fixed in the range of Rs 983-985 per share.

The company has raised nearly Rs 226 crore from anchor investors on Friday.

Besides, ICICI Lombard General Insurance Company has set Rs 651-661 as the price band for its IPO, which will make it a Rs 5,700 crore issue.

The issue, the first by any general insurance company, will be open for subscription from September 15-19.

So far this year, 19 companies, including BSE, Avenue Supermarts and Central Depository Services (India) Limited, have hit the market with their IPOs.

Last week, Dixon Technologies and Bharat Road Network concluded their IPOs.

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GDR manipulation: Sebi cracks down on foreign, domestic firms

Cracking the whip, Sebi today barred 19 domestic and foreign entities from securities markets for manipulation in issuances of global depository receipts and warned several others including FIIs. 

The regulator has imposed a ten-year ban on K Sera Sera and Asahi Infrastructure and Projects, which figured among the six companies whose GDR issuances were manipulated, while at least 26 entities including European American Investment Bank AG (Euram) have been warned that all their future dealings in Indian markets should be strictly as per regulations. 

Sebi has been probing misuse of GDRs (Global Depository Receipts) for routing black money back to India for which role of more than 50 individuals and companies was under scanner. 

The modus-operandi typically involves creating an intricate web of entities in offshore locations for multi- layered transfers of funds before bringing them back to India. 

GDR is a popular financial instrument used by listed companies in India, as also in many other countries, to raise funds denominated mostly in US dollar or euros. 

Typically, GDRs are bank certificates issued in more than one country for shares of a company, which are held by a foreign branch of an international bank. While shares trade on a domestic stock exchange, which happens to be in India in the present case, they can be offered for sale globally through the empanelled bank branches.

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Top 5 stocks in which brokerages initiated coverage in August can rally up to 32% in 1 year

The Bulls failed to reclaim control on D-Street in the month of August as the S&P BSE Sensex slipped nearly 800 points or 2.4 percent. But, there was plenty of stock specific action as nearly 20 stocks rose between 50-100 percent in the same period.

Most of the domestic brokerage firms such as SBI, Kotak Private Client Research, HDFC Securities, as well as Equirus have initiated coverage for the first time in certain stocks this week.

We have collated a list of top 5 stocks on which brokerage initiates coverage in August

Bodal Chemicals: BUY| Target Rs 215| Return 28%

SBIcap Securities initiates a coverage on Bodal Chemicals with a buy recommendation and a target price of Rs 215.

NBCC: BUY| Target Rs260| Return 27%

SBIcap Securities initiates a coverage on NBCC with a buy recommendation and a target price of Rs 260. With its excellent track record of implementing complex projects, NBCC has become the de-facto choice for being project management consultant (PMC) for big ticket projects to be rolled out under new government initiatives.

Asian Granito India: BUY| Target Rs603 | Return 32%

Kotak Securities initiated coverage on Asian Granito India Ltd with a buy rating and a target price of Rs603. Asian Granito, promoted by Mr. Kamlesh Patel and Mr. Mukesh Patel in the year 2000, is engaged in the manufacture and sale of ceramic wall and floor tiles, vitrified tiles, digital polished glazed vitrified tiles, digital wall tiles, marble, and quartz.

We value the company at 23x P/E based on its relative comparison with companies in the same segment and riding on consumerism.

Maruti Suzuki India: Long| Target Rs8993| Return 16%

Equirus initiated coverage on Maruti Suzuki for the first time with a long rating and a target price of Rs 8993.

The brokerage firm is of the view that MSIL is a structural growth story and waiting periods on some of its large-selling models will help it trade at premium valuations, similar to what we saw in case of Eicher Motors in the past.

BSE Limited: BUY| Target Rs1200| Return 23%

HDFC Securities initiates a coverage on BSE with a buy rating and a target price of Rs 1200. The Bombay Stock Exchange Ltd (BSE) is Asia’s oldest stock exchange (estd. 1875 and listed in Feb-17).

Long term investors should take cognizance of its recent (if overdue) renaissance under a market savvy management, including its recent listing. With the latest technology platform, BSE claims to be ten times faster than NSE (its much larger competitor).

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GDP growth slows to three-year low of 5.7% in Q1 hit by note ban, GST disruption

The Indian economy grew 5.7 percent in April-June, sharply lower than last year’s 7.9 percent expansion in the same quarter as also the previous quarter’s 6.1 percent growth, signs that the country was still reeling under the shock of demonetization and disruption caused ahead of GST’s roll out.

Data released on Thursday by the Central Statistics Office (CSO) showed that India’s “real” or inflation-adjusted GDP grew at the slowest pace in 13 quarters and is still a long way off from returning to 8 percent growth path, last seen in 2015-16.

It is also the lowest growth since the Narendra Modi-led NDA government came to power in 2014.

India now lags China in the global growth rankings by a fair margin. China, which grew at 6.9 percent in the last two quarters, has bounced back as the world’s fastest growing major economy since January, regaining the status from India after two years.

Importantly, the CSO estimates shows that gross value added (GVA) grew 5.6 percent in April-June lower than the last year’s 7.6 percent growth during the same quarter.

The latest growth numbers is a throwback to 2013-14, when India slid to a decade low sub-5 percent growth, buffeted by a string of corruption scandals at home and uncertain external economic environment.

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Reliance Capital to be excluded from 11 BSE S&P indices

Leading stock exchange BSE  said Reliance Capital will be shifted out of the BSE S&P indices from September 5 as the financial services provider is demerging its real estate lending business.

The company would be excluded from 11 S&P BSE indices, including S&P BSE AllCap, S&P BSE 200, S&P BSE 100, S&P BSE Sensex Next 50, S&P BSE Midcap and S&P BSE LargeMidcap indices.

"Reliance Capital is demerging its real estate lending business, which will be later merged with Reliance Home Finance Limited, an unlisted subsidiary of Reliance Capital," a BSE notice issued today said.

On account of this scheme of arrangement, effective at the open of September 5, changes will be made to the S&P BSE Indices, it said.

RHF had assets under management (AUM) of Rs 13,022 crore (USD 2 billion) as of June 30, 2017 and is expected to be listed on the exchanges in September.

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Vijaya Bank to raise Rs 1000-cr in QIP

State-run lender Vijaya Bank launched a Rs 1,000-crore institutional sale of shares with a floor price of Rs 66.36 per share.

The Bengaluru-based bank can offer a discount of up to 5 percent on the floor price for the qualified institutions' placement (QIP) of shares, it said in a regulatory filing.

The bank board had decided to go for the QIP at its meeting on May 9, for which the shareholders had given their ascent on June 23.

The QIP committee today approved the opening of the share sale immediately, it said.

The bank scrip closed 2.17 % up at Rs 70.75 a piece on the BSE today as against a 0.49 percent gains in the benchmark.

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Reliance Defence starts steel cutting on 14 fast patrol vessels

Reliance Infrastructure on Friday announced that its subsidiary Reliance Defence and Engineering Limited (RDEL) has commenced the steel cutting of 14 fast patrol vessels and undertaken the keel laying of the training ship for the Indian Coast Guard at their shipyard here.

Indian Coast Guard has contracted RDEL with delivery of 14 fast patrol vessels (FPVs) and one training ship. 

"The first of the FPVs will be delivered on schedule to the Coast Guard by January 2019 and thereafter the subsequent 13 vessels will be delivered one in every three months," the statement said. 

The ship is a medium range surface platform capable of operations in maritime zones of India. 

"The simultaneous keel laying of 3,500 tonnes training ship marks the commencement of block erection and dry dock activities for the ship scheduled for delivery by July 2018," it added. 

"The ship is fitted with total 10,400 KW main propulsion diesel engines delivering a maximum speed of 20 knots," Reliance said. 

The company has also repaired and retrofitted commercial and defence ships as well as mobile oil drilling platforms for international clients.

RDEL is the first private shipyard in India to obtain a defence production licence and sign a contract for defence ships in 2011, the company said.

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LIC trims stake in Tata Global Beverages to 5.67%

State-owned Life Insurance Corporation (LIC) has reduced its shareholding in FMCG firm Tata Global Beverages Ltd (TGBL) to 5.67 per cent by selling 2.03 stake in open market. 

LIC sold 1.28 crore shares, representing 2.03 per cent stake, of TGBL in open market between July 4 and August 23, the Tata group company said in a filing to BSE. 

The insurance giant had 7.70 per cent stake in TGBL earlier. 

In July, LIC had sold 2.14 per cent share in TGBL in the market to bring down its shareholding in the company to 7.70 per cent from 9.85 per cent earlier. 

TGBL's tea brand includes Tata Tea, Tetley, Good Earth Teas, Vitax, teapigs and JEMCA. 

It is the world's second-largest manufacturer and distributor of tea with significant brand presence in over 40 countries across Asia, Europe, North America, the Middle East, Africa and Australia. In coffee segment, it has Eight OClock and Grand brands. 

The Tata group firm also operates a coffee chain with Starbucks in India in a 50:50 joint venture. 

Shares of Tata Global Beverages Ltd (TGBL) ended at Rs 194.30 apiece, down 1.20 per cent, on the BSE.

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Indian Metals & Ferro Alloys still at an attractive valuation

We had initiated coverage on IMFA (Indian Metals & Ferro Alloys) sometime ago and the stock continues to impress us post its quarterly earnings report. The company reported a turnaround performance with a net profit of Rs 100 crore in Q1 of FY18 as against a loss of Rs 30 crore in the year ago period which was impacted due to production disruption and lower realization.

The performance for the quarter gone by was largely driven by recovery in chrome prices. Despite a 6 percent drop in sales volumes to 48,500 tonnes, the company saw 69 percent year-on-year growth in revenues as sales realizations stood at close to Rs 87,000 per tonne as against Rs 51,600 a tonne in Q1 of FY17.

The benefits of operating leverage also kicked in and, consequently, costs actually declined by 2 percent to Rs 247 crore. This translated to higher profitability. The company also saw 328 percent increase in other income thanks to the increasing cash in the books.

We estimate cash to reach around Rs 660 crore (currently about Rs 300 crore) or about 40 percent of its current market capitalization by the end of FY18. Our estimates suggest that the company should be reporting an annual net profit of close to Rs 290 crore in the current financial year. At the current market price of Rs 465, the stock is still attractively valued at about 4 times its FY18 estimated earnings. The attractive valuation is in addition to other fundamental strengths like high margin and return ratios and a strong balance sheet.

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Eight of top 10 firms add Rs 54,968 crore in market capitalization

The combined market valuation of eight of the 10 most valued firms surged by Rs 54,968.17 crore last week, with ITC and HUL emerging as the biggest gainers.

Infosys and State Bank of India (SBI) however suffered losses in their market capitalization (m-cap) for the week ended Friday. The rest eight firms including RIL, Tata Consultancy Services (TCS) and HDFC Bank saw an addition to their m-cap.

The valuation of ITC soared Rs 12,559.75 crore, to reach Rs 3,43,120.21 crore.

HUL's m-cap jumped Rs 10,140.52 crore to Rs 2,59,670.81 crore and that of Reliance Industries Ltd (RIL) advanced by Rs 9,381.74 crore to Rs 5,12,304.52 crore.

IOC, the new entrant in the top-10 list, added Rs 7,042.02 crore to Rs 2,07,250.02 crore in its market valuation.

The m-cap of HDFC soared Rs 6,579.77 crore to Rs 2,76,439.84 crore and that of Maruti Suzuki India surged Rs 5,050.78 crore to Rs 2,30,186.52 crore.

TCS' valuation went up by Rs 3,608.43 crore to Rs 4,81,031.76 crore and that of HDFC Bank rose by Rs 605.16 crore to Rs 4,51,602.81 crore.

On the other hand, Infosys saw its m-cap erode by Rs 14,847.69 crore to Rs 2,12,033.02 crore. Shares of Infosys had on Friday ended sharply lower by nearly 10 percent after Vishal Sikka, the first non-founder CEO of the company, called it quits.

SBI's valuation slumped Rs 1,726.41 crore to Rs 2,40,532.08 crore. RIL continued to rule the top-10 m-cap chart followed by TCS, HDFC Bank, ITC, HDFC, Hindustan Unilever Ltd, SBI, Maruti, Infosys and IOC. Over the last week, the BSE's 30-share benchmark recorded gains of 311.09 points, or 0.99%.

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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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KKR's Moneyline Portfolio sells 85 lakh shares in Max Financial

Private equity major KKR's unit Moneyline Portfolio Investments sold 85 lakh shares in Max Financial Services on Wednesday at Rs 605.02 per share, bulk deal data on the BSE showed. 

The name of the buyers could not be ascertained immediately. Moneyline Portfolio held 2.66 crore shares or 9.94% stake in Max Financial at the end of June. Shares of Max Financial ended up 0.84% at Rs 605.10 on the BSE, off its day's high of Rs 624. 

KKR had acquired the stake in Max Financial in February 2016 from a group of promoters including Analjit Singh, to become the largest institutional shareholder in the company. 

Besides Moneyline, Barron Emerging Markets Fund held 28.15 lakh shares or 1.05% stake in Max Financial, while Morgan Stanley (France) S.A. held 44.69 lakh shares or 1.67% stake, shareholding data for the quarter ended June showed.

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350 stocks seeing strong FPI interest ; Up to 550% return in 1 year

With strong fundamentals as well as strong growth visibility for the domestic economy, foreign portfolio investors (FPI) continued to be upbeat on the domestic capital market for the second consecutive financial year. 

They increased stake in 350 companies during June quarter compared with that in March quarter. Some of these stocks have surged up to 550 per cent in last one year. 

Starting with top gainers, shares of Indiabulls Ventures have risen 546 % to Rs 190.90 on July 31, 2017 from Rs 29.55 on July 29, 2016. FPIs increased stake in the company to 13.41 % as of June 30, 2017 from 1.50 % as of March 31, 2017. 

Jindal Worldwide is another stock that is seeing a lot of FPI interest. Foreign portfolio investors held 0.02 % stake in the company at the end of June quarter against zero holding at the end of March quarter. Shares of Jindal Worldwide have risen 373 % in last one year till July 31, 2017 .

Net FPI inflow to Indian equities, which stood at Rs 48,411 crore in 2016-17, has already exceeded Rs 1 lakh crore this financial year. With robust inflows, equity benchmarks Sensex and Nifty have surged to record highs. 

Nifty recently surpassed the 10,000-mark for the first time since its inception two decades ago while the Sensex breached the 32,500 mark, a lifetime high.

Some of the midcap and smallcap stocks that gained favour from FPIs during the quarter included Minda Industries, Indian Metals, Caplin Point Labs, Avanti Feeds, Nocil, Future Lifestyle, JP Associates, Rane Holdings, Sterlite Technologies, PNB Gilts, National Fertilizer, Siyaram Silk and MRF. 

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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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BSE`s Q1 result consolidated net profit zooms to Rs 524 cr

BSE, Asia's oldest stock exchange, Yesterday reported a 12-fold jump in net profit to Rs 523.70 crore for the June quarter of the current financial year. 

In comparison, the exchange had a net profit of Rs 43.70 crore in the first quarter of last fiscal, 2016-17, BSE said in a statement. 

The total income rose by 11 per cent to Rs 158.38 crore in the first quarter of the current fiscal (2017-18), from Rs 142.73 crore in the year-ago period. 

The exchange has made a 'gain on sale of subsidiary' totalling Rs 461.75 crore. It has partially divested its stake in a subsidiary company, CDSLBSE 0.00 %, on June 29, 2017. 

"The divestment has resulted in a loss of control and therefore the profit on sale of the investment in the subsidiary amounting to Rs 451.18 crore has been credited to the consolidated financial results during the quarter ended June 30, 2017," BSE said 

The exchange witnessed 155 per cent growth in the average monthly number of order processed in mutual fund segment to 9.2 lakh orders during the period under review from 3.6 Lakh in the first quarter of the preceding fiscal. 

Further, average daily turnover in India International Exchange, BSE's subsidiary at GIFT City, for July stood at USD 57 million, growing at monthly compounded growth rate of 96 per cent since commencement of operations in January. 

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Govt to sell 4% in Hind Copper

The government will sell 3.70 crore equity shares in Hindustan Copper at a floor price of Rs 64.75 apiece through a two-day offer-for-sale (OFS) beginning today, with an option to issue a similar number of shares in case of over subscription.

The sale of 4 % stake or over 3.70 crore shares at Rs 64.75 apiece would fetch about Rs 240 crore to the exchequer.

In case, the government decides to issue additional up to 3.70 crore shares, the share sale can together fetch up to Rs 480 crore to the exchequer.

The government currently holds 82.88 %  stake in Hindustan Copper Ltd (HCL) and the stake sale with green shoe option would help the government meet the minimum public shareholding norm of market regulator Sebi. The floor price of Rs 64.75 a unit is at an 8.35 percent discount over today's closing price of Rs 70.65 on the BSE.

The two-day OFS would open for institutional investors tomorrow and retail investors would get to bid on August 3. Retail investor is defined as the one who place bids for shares not more than Rs 2 lakh.

The government has already raised over Rs 8,428 crore through disinvestment in five companies, and one share buy back. The government has budgeted to raise Rs 72,500 crore through stake sale in PSUs. This includes Rs 46,500 crore from minority stake sale, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of insurance companies.

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