Sell hold with 4K sl
GM Trade NSE MCX
@gorakhm
for learning Elliot and for charts interested MoB - 7620544373
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Do small qty because 30 rs sl
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Now rate 3970
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Strict sl
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Sell crude with today’s top sl target 3887 & 3821
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Call active
News and Impact
Expect market to open on a flat note on account of global cues. U S. stocks rallied for a third day (Dow Jones gained 0.2%) after the US Federal Reserve struck a dovish tone in its latest policy statement, kept unchanged interest rate (2.25% -2.5%). However, US Fed indicated to cut interest rate in the next policy meeting and expects a strong labor market and inflation to be near its goal. The yield on the U.S. two-year note fell by as much as 12 basis points to 1.74%.
As many of the world’s biggest central banks signal a shift to easier policy, traders are weighing that against trade war fears and signs of cooling global growth. U.S. President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese President Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka.
Asian market open on a mixed bag. Nikkei and Hong Kong Index gained quarter percent each. China and South Korea Index declined marginally. SGX Nifty is up 31 points (0.3%)
Sectors watch – Auto, Banking and NBFC
Actionable – BUY Maruti, ICICI, SBI
Major events to be watch – Prime Minister Modi will meet Finance Minister and other financial delegate ahead of Union Budget, Nifty and Bank Nifty weekly expiry, and hearing on Jet Airways today on NCLT.
Brokers Radar – Asian Paints SELL – CLSA TGT 1285, Nomura BUY Adani Ports TGT raised from 380 to 460, Goldman TGT on Vodafone TGT 12, UBS BUY on Oil & GAS stocks – Reliance TGT 1500, HPCL TGT 445, IOC TGT 200, BPCL TGT 600, Chennai Petro TGT 375.
Higher leveraged balance sheets, liquidity crunch have impacted lot of companies in terms of higher cost of borrowings and poor asset quality. Going forward, the near-term movement is likely to be driven by monsoon progress as well as global indicators.
Yesterday, Nifty declined nearly 2% from intra-day high despite across global market recorded smart rally. Nifty 500 stocks advance-decline ratio was 1:3. HEG, BEML, Wockhardt, IndusInd Bank, Yes Bank, Indiabulls Housing slipped between 5-10%. Moreover, some stocks also lost ground as NSE will exclude 34 stocks from June 28 from F&O trading; some of these stocks are Jain Irrigation, Reliance Infra, HDIL, Arvind, Reliance Capital, J&K Bank, Dewan Housing, Jindal Stainless, Jet Air, PC Jewellers (down 10-20%).
It is interesting that the FIIs were marginally net sellers worth Rs970mn yesterday but many small and mid-cap stocks fallen by 10-30%. Market expectation that the funds cautions about pledge shares and take a defensive to offloaded pledges shares.
Traders apply caution in the market. Avoid highly speculative and high beta stocks. Buy good quality and strong fundamental stocks. HDFC, HDFC Bank, ICICI, Maruti, UltraTech, ACC, Infosys, Tech Mahindra buy for delivery. Positive factor that the 10-Year G-Sec Yield 20-month low, fall in USDINR and stable oil price.
Watch on PNB - State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year, its Chairman Sunil Mehta has said – Positive for PNB.
Watch on Tech stocks – Reuters news that the US Government may restricted on HI B Visa rules – It may negative on Tech stocks
HDFC to Acquire 51.2% Stake in Apollo Munich Health For Rs13.5bn - HDFC signs an all-cash deal to buy up to total 51.2% stake in Apollo Munich Health Insurance from Apollo Hospitals Group. Merged entity would have combined market share of 6.4% of non-life insurance industry with 308 branches in India – It will be positive on Apollo Hospital. Company to repay its debt. We are long term positive on HDFC
Watch on Cement stocks – Cement stocks expected to be momentum ahead of GST Council meeting tomorrow. Market expectation that the GST Council may cut GST rate from 28% to 18%. It will be positive on UltraTech (96mn capacity), Shree Cement and Birla Corp if GST Council cut GST rate.
Monsoon rainfall is 44% below normal - IMD, It may negative impact in the market
Bharat Financial : July 4 effective date for merger with IndusInd Bank - Positive for IndusInd Bank
Rating agency India Ratings maintains negative outlook on J&K Bank - Avoid J&K Bank
Adani Green award for 600 MW wind solar projects - Positive for Adani Green
Asian Oilfield says Seismis contracts won for Block -2 in Iraq, Iraq contracts valued at total $37mn - Positive for Asian oilfield
Rajesh Exports bagged orders worth Rs 9.42bn - Positive for Rajesh Exports
Jain Irrigation USD bond falls 13.6 cents to record low of 60.4 - negative for Jain Irrigation, rating agency also cut rating - Avoid
Tata Capital Financial to sell Rs3.62b 2-Part Bond - Positive for Tata Investment
HCL Technologies and Cricket Australia (CA) have today announced a multi-year partnership, with HCL being chosen as the Digital Technology Partner of CA. HCL, a leading global technology company, will help the Australian cricket's governing - Positive for HCL Tech. Expect positive on tech stocks in the volatile market.
Shriram Transport has managed funding pressure amid tough operating conditions through a combination of cautious growth, and use of alternate funding channels and higher securitization, according to S&P Global Ratings - We are long term positive on Shriram Transport
Reliance Power long term rating cut to C from BB by rating agency ICRA - Avoid on Reliance Power
Ashok Leyland to Close Pantnagar Plant by June 24-29 - Ashok Leyland says plant closure is part of its “strategy to align with the production and sales requirements,” - It is a normal course - any decline will be a buying opportunity.
NCLT to hear Jet Airways insolvency case today - Avoid Jet Airways
M&M announces price increase for personal range vehicles from July 1. Price increase by up to Rs36000 across models - Price increase is due to the implementation of AIS 145 Safety Norms across all passenger vehicles in India - Positive for M&M
Blue Star awarded order from Mumbai Metro Rail Corp valued at Rs2.53bn for tunnel ventilation and AC - Positive for Blue Star, we are positive on Voltas
Airtel files application to list Nigeria stock exchange - Market expect that the valuation over $3bn on Airtel Africa unit after IPO issue. We are positive on Bharti Airtel
L&T has secured orders from prestigious clients in Sri Lanka and from within India. Water and Effluent Treatment : An EPC order has been bagged from the National Water Supply & Drainage Board - Positive for L&T
BHEL commissions Chhukha Hydro Electric projects in Bhutan - Positive for BHEL
Dividends – Bandhan Bank, Graphite India, HDFC Bank, Hindustan Unilever, Nilkamal Ltd, Shankara Building, Board meetings – AU Small Finance, Federal Bank, AGM – Indian Hotel, SBI, EGM – India Bull Real Estate
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News and Impact
Expect market to open on a flat note on account of global cues. U S. stocks rallied for a third day (Dow Jones gained 0.2%) after the US Federal Reserve struck a dovish tone in its latest policy statement, kept unchanged interest rate (2.25% -2.5%). However, US Fed indicated to cut interest rate in the next policy meeting and expects a strong labor market and inflation to be near its goal. The yield on the U.S. two-year note fell by as much as 12 basis points to 1.74%.
As many of the world’s biggest central banks signal a shift to easier policy, traders are weighing that against trade war fears and signs of cooling global growth. U.S. President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese President Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka.
Asian market open on a mixed bag. Nikkei and Hong Kong Index gained quarter percent each. China and South Korea Index declined marginally. SGX Nifty is up 31 points (0.3%)
Sectors watch – Auto, Banking and NBFC
Actionable – BUY Maruti, ICICI, SBI
Major events to be watch – Prime Minister Modi will meet Finance Minister and other financial delegate ahead of Union Budget, Nifty and Bank Nifty weekly expiry, and hearing on Jet Airways today on NCLT.
Brokers Radar – Asian Paints SELL – CLSA TGT 1285, Nomura BUY Adani Ports TGT raised from 380 to 460, Goldman TGT on Vodafone TGT 12, UBS BUY on Oil & GAS stocks – Reliance TGT 1500, HPCL TGT 445, IOC TGT 200, BPCL TGT 600, Chennai Petro TGT 375.
Higher leveraged balance sheets, liquidity crunch have impacted lot of companies in terms of higher cost of borrowings and poor asset quality. Going forward, the near-term movement is likely to be driven by monsoon progress as well as global indicators.
Yesterday, Nifty declined nearly 2% from intra-day high despite across global market recorded smart rally. Nifty 500 stocks advance-decline ratio was 1:3. HEG, BEML, Wockhardt, IndusInd Bank, Yes Bank, Indiabulls Housing slipped between 5-10%. Moreover, some stocks also lost ground as NSE will exclude 34 stocks from June 28 from F&O trading; some of these stocks are Jain Irrigation, Reliance Infra, HDIL, Arvind, Reliance Capital, J&K Bank, Dewan Housing, Jindal Stainless, Jet Air, PC Jewellers (down 10-20%).
It is interesting that the FIIs were marginally net sellers worth Rs970mn yesterday but many small and mid-cap stocks fallen by 10-30%. Market expectation that the funds cautions about pledge shares and take a defensive to offloaded pledges shares.
Traders apply caution in the market. Avoid highly speculative and high beta stocks. Buy good quality and strong fundamental stocks. HDFC, HDFC Bank, ICICI, Maruti, UltraTech, ACC, Infosys, Tech Mahindra buy for delivery. Positive factor that the 10-Year G-Sec Yield 20-month low, fall in USDINR and stable oil price.
Watch on PNB - State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year, its Chairman Sunil Mehta has said – Positive for PNB.
Watch on Tech stocks – Reuters news that the US Government may restricted on HI B Visa rules – It may negative on Tech stocks
HDFC to Acquire 51.2% Stake in Apollo Munich Health For Rs13.5bn - HDFC signs an all-cash deal to buy up to total 51.2% stake in Apollo Munich Health Insurance from Apollo Hospitals Group. Merged entity would have combined market share of 6.4% of non-life insurance industry with 308 branches in India – It will be positive on Apollo Hospital. Company to repay its debt. We are long term positive on HDFC
Watch on Cement stocks – Cement stocks expected to be momentum ahead of GST Council meeting tomorrow. Market expectation that the GST Council may cut GST rate from 28% to 18%. It will be positive on UltraTech (96mn capacity), Shree Cement and Birla Corp if GST Council cut GST rate.
Monsoon rainfall is 44% below normal - IMD, It may negative impact in the market
Bharat Financial : July 4 effective date for merger with IndusInd Bank - Positive for IndusInd Bank
Rating agency India Ratings maintains negative outlook on J&K Bank - Avoid J&K Bank
Adani Green award for 600 MW wind solar projects - Positive for Adani Green
Asian Oilfield says Seismis contracts won for Block -2 in Iraq, Iraq contracts valued at total $37mn - Positive for Asian oilfield
Rajesh Exports bagged orders worth Rs 9.42bn - Positive for Rajesh Exports
Jain Irrigation USD bond falls 13.6 cents to record low of 60.4 - negative for Jain Irrigation, rating agency also cut rating - Avoid
Tata Capital Financial to sell Rs3.62b 2-Part Bond - Positive for Tata Investment
HCL Technologies and Cricket Australia (CA) have today announced a multi-year partnership, with HCL being chosen as the Digital Technology Partner of CA. HCL, a leading global technology company, will help the Australian cricket's governing - Positive for HCL Tech. Expect positive on tech stocks in the volatile market.
Shriram Transport has managed funding pressure amid tough operating conditions through a combination of cautious growth, and use of alternate funding channels and higher securitization, according to S&P Global Ratings - We are long term positive on Shriram Transport
Reliance Power long term rating cut to C from BB by rating agency ICRA - Avoid on Reliance Power
Ashok Leyland to Close Pantnagar Plant by June 24-29 - Ashok Leyland says plant closure is part of its “strategy to align with the production and sales requirements,” - It is a normal course - any decline will be a buying opportunity.
NCLT to hear Jet Airways insolvency case today - Avoid Jet Airways
M&M announces price increase for personal range vehicles from July 1. Price increase by up to Rs36000 across models - Price increase is due to the implementation of AIS 145 Safety Norms across all passenger vehicles in India - Positive for M&M
Blue Star awarded order from Mumbai Metro Rail Corp valued at Rs2.53bn for tunnel ventilation and AC - Positive for Blue Star, we are positive on Voltas
Airtel files application to list Nigeria stock exchange - Market expect that the valuation over $3bn on Airtel Africa unit after IPO issue. We are positive on Bharti Airtel
L&T has secured orders from prestigious clients in Sri Lanka and from within India. Water and Effluent Treatment : An EPC order has been bagged from the National Water Supply & Drainage Board - Positive for L&T
BHEL commissions Chhukha Hydro Electric projects in Bhutan - Positive for BHEL
Dividends – Bandhan Bank, Graphite India, HDFC Bank, Hindustan Unilever, Nilkamal Ltd, Shankara Building, Board meetings – AU Small Finance, Federal Bank, AGM – Indian Hotel, SBI, EGM – India Bull Real Estate
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News and Impact
Expect market to open on a flat note on account of global cues. U S. stocks rallied for a third day (Dow Jones gained 0.2%) after the US Federal Reserve struck a dovish tone in its latest policy statement, kept unchanged interest rate (2.25% -2.5%). However, US Fed indicated to cut interest rate in the next policy meeting and expects a strong labor market and inflation to be near its goal. The yield on the U.S. two-year note fell by as much as 12 basis points to 1.74%.
As many of the world’s biggest central banks signal a shift to easier policy, traders are weighing that against trade war fears and signs of cooling global growth. U.S. President Donald Trump said Tuesday that he had a “very good” phone conversation with Chinese President Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit on June 28-29 in Osaka.
Asian market open on a mixed bag. Nikkei and Hong Kong Index gained quarter percent each. China and South Korea Index declined marginally. SGX Nifty is up 31 points (0.3%)
Sectors watch – Auto, Banking and NBFC
Actionable – BUY Maruti, ICICI, SBI
Major events to be watch – Prime Minister Modi will meet Finance Minister and other financial delegate ahead of Union Budget, Nifty and Bank Nifty weekly expiry, and hearing on Jet Airways today on NCLT.
Brokers Radar – Asian Paints SELL – CLSA TGT 1285, Nomura BUY Adani Ports TGT raised from 380 to 460, Goldman TGT on Vodafone TGT 12, UBS BUY on Oil & GAS stocks – Reliance TGT 1500, HPCL TGT 445, IOC TGT 200, BPCL TGT 600, Chennai Petro TGT 375.
Higher leveraged balance sheets, liquidity crunch have impacted lot of companies in terms of higher cost of borrowings and poor asset quality. Going forward, the near-term movement is likely to be driven by monsoon progress as well as global indicators.
Yesterday, Nifty declined nearly 2% from intra-day high despite across global market recorded smart rally. Nifty 500 stocks advance-decline ratio was 1:3. HEG, BEML, Wockhardt, IndusInd Bank, Yes Bank, Indiabulls Housing slipped between 5-10%. Moreover, some stocks also lost ground as NSE will exclude 34 stocks from June 28 from F&O trading; some of these stocks are Jain Irrigation, Reliance Infra, HDIL, Arvind, Reliance Capital, J&K Bank, Dewan Housing, Jindal Stainless, Jet Air, PC Jewellers (down 10-20%).
It is interesting that the FIIs were marginally net sellers worth Rs970mn yesterday but many small and mid-cap stocks fallen by 10-30%. Market expectation that the funds cautions about pledge shares and take a defensive to offloaded pledges shares.
Traders apply caution in the market. Avoid highly speculative and high beta stocks. Buy good quality and strong fundamental stocks. HDFC, HDFC Bank, ICICI, Maruti, UltraTech, ACC, Infosys, Tech Mahindra buy for delivery. Positive factor that the 10-Year G-Sec Yield 20-month low, fall in USDINR and stable oil price.
Watch on PNB - State-owned Punjab National Bank (PNB) recovered Rs 20,000 crore of bad loans during the financial year ended March 2019, almost double the recovery amount in the preceding year, its Chairman Sunil Mehta has said – Positive for PNB.
Watch on Tech stocks – Reuters news that the US Government may restricted on HI B Visa rules – It may negative on Tech stocks
HDFC to Acquire 51.2% Stake in Apollo Munich Health For Rs13.5bn - HDFC signs an all-cash deal to buy up to total 51.2% stake in Apollo Munich Health Insurance from Apollo Hospitals Group. Merged entity would have combined market share of 6.4% of non-life insurance industry with 308 branches in India – It will be positive on Apollo Hospital. Company to repay its debt. We are long term positive on HDFC
Watch on Cement stocks – Cement stocks expected to be momentum ahead of GST Council meeting tomorrow. Market expectation that the GST Council may cut GST rate from 28% to 18%. It will be positive on UltraTech (96mn capacity), Shree Cement and Birla Corp if GST Council cut GST rate.
Monsoon rainfall is 44% below normal - IMD, It may negative impact in the market
Bharat Financial : July 4 effective date for merger with IndusInd Bank - Positive for IndusInd Bank
Rating agency India Ratings maintains negative outlook on J&K Bank - Avoid J&K Bank
Adani Green award for 600 MW wind solar projects - Positive for Adani Green
Asian Oilfield says Seismis contracts won for Block -2 in Iraq, Iraq contracts valued at total $37mn - Positive for Asian oilfield
Rajesh Exports bagged orders worth Rs 9.42bn - Positive for Rajesh Exports
Jain Irrigation USD bond falls 13.6 cents to record low of 60.4 - negative for Jain Irrigation, rating agency also cut rating - Avoid
Tata Capital Financial to sell Rs3.62b 2-Part Bond - Positive for Tata Investment
HCL Technologies and Cricket Australia (CA) have today announced a multi-year partnership, with HCL being chosen as the Digital Technology Partner of CA. HCL, a leading global technology company, will help the Australian cricket's governing - Positive for HCL Tech. Expect positive on tech stocks in the volatile market.
Shriram Transport has managed funding pressure amid tough operating conditions through a combination of cautious growth, and use of alternate funding channels and higher securitization, according to S&P Global Ratings - We are long term positive on Shriram Transport
Reliance Power long term rating cut to C from BB by rating agency ICRA - Avoid on Reliance Power
Ashok Leyland to Close Pantnagar Plant by June 24-29 - Ashok Leyland says plant closure is part of its “strategy to align with the production and sales requirements,” - It is a normal course - any decline will be a buying opportunity.
NCLT to hear Jet Airways insolvency case today - Avoid Jet Airways
M&M announces price increase for personal range vehicles from July 1. Price increase by up to Rs36000 across models - Price increase is due to the implementation of AIS 145 Safety Norms across all passenger vehicles in India - Positive for M&M
Blue Star awarded order from Mumbai Metro Rail Corp valued at Rs2.53bn for tunnel ventilation and AC - Positive for Blue Star, we are positive on Voltas
Airtel files application to list Nigeria stock exchange - Market expect that the valuation over $3bn on Airtel Africa unit after IPO issue. We are positive on Bharti Airtel
L&T has secured orders from prestigious clients in Sri Lanka and from within India. Water and Effluent Treatment : An EPC order has been bagged from the National Water Supply & Drainage Board - Positive for L&T
BHEL commissions Chhukha Hydro Electric projects in Bhutan - Positive for BHEL
Dividends – Bandhan Bank, Graphite India, HDFC Bank, Hindustan Unilever, Nilkamal Ltd, Shankara Building, Board meetings – AU Small Finance, Federal Bank, AGM – Indian Hotel, SBI, EGM – India Bull Real Estate
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If sl hit again sell 3886 sl 3900 target 🎯 same 👍👌
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Sell positional crude @3780 sl 3800 target 🎯 big
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Sell exide @ 198 target 187 sl 206
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Brent crude surged by 4% to $62.5/bbl surged to its biggest gain in five months as OPEC and its allies moved closer to a meeting to extend supply cuts
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News and Impact
Expect market to open on a strong note on account of global cues. US Dow Jones climbed up over 1% and approached all-time highs on optimism that President Donald Trump will de-escalate his trade war with China, adding to gains sparked by the ECB’s signal it is ready to cut interest rates if warranted.
Sentiment boosted in the global market after the US President Trump tweeted earlier that he will meet with Chinese President Xi Jinping at the Group of 20 summit next week. Trade tensions have weighed on stocks since Trump escalated his trade war in early May.
European market like FTSE, CAC and DAX Index gained 2% after the European Central Bank President Mario Draghi said that officials are ready with stimulus if needed, adding to expectations for easier monetary policies.
US Fed interest rate decision will be announced mid-night (ISD). Expectation of 25bps interest rate cut by US FDA. Other global countries policy meeting this week - Bank of Japan and Bank of England all set monetary policy, along with central banks in Norway, Brazil, Taiwan and Indonesia.
Asian market opened on a strong note. Nikkei, Hong Kong and China Index gained 1-2%. SGX Nifty is up over half percent (up 58 points).
Sentiment is positive in the market on account of strong micro and macro factors. Among the Macro factors like reduced trade tension between US-China, European central bank announced further stimulus to the Euro Zone area. Among the macro factors like USDINR fell to below 70, 20-month low 10-Year G-Sec Yield, hope of GST council to cut GST rate and favourable Union Budget on 5th July.
Nifty slipped nearly 300 points in the last few days. Short covering may not be ruled in the market on account of strong global cues.
Market summary – US Fed interest rate decision today, GST Council meeting tomorrow, 10-Year Yield 20-month low, Brent Crude spiked nearly 5%, US President tweeted to meet China President, JET Airways NCLT verdict today, Canara Bank approved Can Fin Home stake sale.
Brokers Radar – Titan TGT raised BY UBS from 1250 to 1600, CLSA Cut Bharat Forge TGT from 420 TO 390, Goldman BUY Tata Steel TGT 570 and Morgan Stalely BUY IndiGo TGT 2132.
Sector to watch - Banking, Cement, Auto and Metal
Actionable - Buy SBI, Maruti, Hindalco and LIC Housing
Brent crude surged by 4% to $62.5/bbl surged to its biggest gain in five months as OPEC and its allies moved closer to a meeting to extend supply cuts and reduced trade tension – increased oil price may negative on oil marketing stocks like HPCL, BPCL, IOC.
Watch on PSU Banks - 10-year yield declined sharply by 12bps to close at 20-month low at 6.80%. The RBI uses open market operations (OMO) worth Rs125bn for injecting liquidity into the system through the purchase of government bonds on 20th June. Significant fall in 10-year G-Sec Yield will be positive for PSU Banks and NBFC stocks. SBI, BoB, LIC Housing, L&T Finance will be positive
Watch on metal stocks - Further stimulus on euro zone area lifted base metal price on LME 1-2% on expectation of improve demand. Expects positive for Hindalco, Tata Steel, Jindal Steel
Canara Bank disinvestment of bank's stake in Canfin Home - Bank’s board approved initiating the process of stake sale in Can Fin Homes in part or full. Says stake sale to be conducted at “appropriate time depending on the market conditions and available options” Canara Bank had a 30% stake in Can Fin Homes (CMP Rs343). It will be a win win on Canara Bank to stake sale on Can Finance Home. Can Fin home is trading at attractive valuation. Stake sale will be positive on Canara Bank.
Traders avoid any bargain hunting – Avoid on highly speculative, poor fundamental, asset quality and higher debt oriented company. Nearly 34 stocks expected to discontinue from the June F&O segment. It may negative on 34 stocks. Jain Irrigation, Reliance Infra, Reliance Capital, J&K Bank, Dewan Housing, Jindal Stainless, Jet Air, PC Jeweeler are poor fundamental - Avoid any bargain hunting.
Reliance Industries will invest ₹20,000 crore in its telecom business, Reliance Jio Infocomm Ltd, to fuel its broadband and e-commerce play and enter 5G services in the future – It will be long term positive on Reliance Industries.
RBI fines HDFC Bank ₹1 crore for violation of KYC norms – Any decline will be a buying opportunity.
Surya Roshni wins orders from Bharat Gas resources worth Rs1.52bn - Positive for Surya Roshni
Jain Irrigation – India Ratings has downgraded Jain Irrigation Systems Ltd’s (JISL) National Long-Term rating to ‘IND BB+’ from ‘IND BBB’ and placed it on Rating Watch Negative (RWN). – Negative for Jain Irrigation. – Avoid.
Watch on NMDC – NMDC production has increased significantly to 30mn tons from 21mn tons – Positive for NMDC.
SEBI has allowed exchanges to launch futures trading in commodity indices. The move will further facilitate mutual fund and institutional participation in commodity exchanges – Positive for MCX and BSE.
Watch on M&M – Market expectation that the GST Council may cut EV rate from 18% to 5% - Positive for M&M
Adani Gree and Adani Enterprises – promoters removed pledge share on Adani Green and Adani Ent nearly 15-19 lkah share – Positive
Watch on Siemens - As water to cool thermal power plants or supply sufficient hydro-power resources becomes less accessible, demand will rise for equipment makers to provide low-water-use power technologies, such as wind, solar and air-cooled gas turbines. Siemens Gamesa and First Solar may be well-placed to supply these needs based on market presence and suitable technology - Positive for Siemens.
TCS Bancs gets deal from Taiwan's KGI Banks - Positive for TCS
Canara Bank plans to raise up to Rs60bn via share sales in FY20 - Canara Bank has decided to raise equity capital via options including qualified institutional placement, rights issue or preferential allotment during the financial year to March 2020 - Positive for Canara for long term.
VaTech wins contract for sewage treatment in Agra, Ghazibad worth Rs14.77bn - Positive for Va Tech
Trent approves allotment of Rs9.5bn of shares to founder company Tata Sons - Positive
Moody's affirms Adani Ports at 'BBB-': outlook stable - Positive
Federal Bank plans up to Rs5bn 10 year tier 2 bond - Positive for Federal Bank for issue on tier 2 capital
Hatsun Agro commissions Cattle feed plant at Solapur - Positive for Hatsun Agro
Watch on Jet Air - Court to hear SBI's Jet Air insolvency plea today - Avoid Jet Air
Hudco gets Rs31.57bn total bids for July 2022 bonds at 7.62% - Positive for Hudco
Traders is looking for GST Meeting (20th June), US Fed policy meeting outcome (tomorrow) and Union Budget (5th July). Expectation of favourable outcome in the policy meeting.
Vedanta Credit Profile May weaken on Volcan Funding: Moody’s - Vedanta Resources’s $561mn investment in a structured product issued by its parent Volcan Investments in Dec. indicates willingness to deploy funds to its parent, and if repeated could weaken its credit profile, says Kaustubh Chaubal, vice president and senior credit officer at Moody’s Investors Service.
Watch on Cement stocks - GST Council meeting will be held tomorrow. Expect long pending issue on GST cut on Cement may reduce. Currently GST rate on Cement at 28%. Market expectation of GST rate cut to 18%.- Positive for Cement stocks like UltraTech, ACC
Star Cement to consider share buy-back on June 21 - Positive for Star Cement
Dividends – Deepak Nitrite, ICICI Lombard General Insurance, Rallis India, Securities and Intelligence India, Shriram Transport. Board Meetings – Federal Bank
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Target 3624 - 3566
Risky trade
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Sell crude 3710 to 3721 sl 3740 strict
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Crude going to my target 🎯