Sunday, 24 June 2018

Shares of Symphony gained 4 percent as company is going to acquire 95 percent stake in Climate Technologies Pty.
The company has entered into a share sale agreement to effectively purchase 95 percent equity stake in Climate Technologies Pty through a new incorporated subsidiary company Symphony AU Pty, Australia.

The acquisition will be executed at a valuation range of A$ 40-44 million (Rs 201 crore - Rs 22I crore) depending on the achievement of FY18F EBITDA (June ended), company said in release.

Further, the valuation is subject to change based on customary closing conditions. The company plans to finance the acquisition through a judicious mix of debt and internal cash accruals, it added.

  Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.The stock has touched an intraday high of Rs 300.20 and an intraday low of Rs 295.45.

TOKYO (Reuters) - Asian shares fell on Monday on escalating trade tensions between the United States and major economies while oil prices gave up some of their hefty gains made after major oil producers agreed to a modest increase in production.

S&P500 mini futures eased as much as 0.6 percent in early trade while MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 percent. Japan's Nikkei lost 0.4 percent.

The falls were triggered by a report from the Wall Street Journal that U.S. President Donald Trump plans to bar many Chinese companies from investing in U.S. technology firms and block additional technology exports to China.

The reduction in reserves, the third by the central bank this year, had been widely anticipated by investors and is aimed to accelerate the pace of debt-for-equity swaps and spur lending to smaller firms.Following the move, the CSI300 Index of mainland Chinese shares rose 0.1 percent in early trade.

On the other hand, the index of global auto manufacturers, which shed 4.7 percent last week, remained soft.Trump threatened to impose a 20 percent tariff on Friday on all imports of EU-assembled cars, a month after his administration launched an investigation into whether auto imports posed a national security threat.

A senior European Commission official said on Saturday that the European Union will respond to any U.S. move to raise tariffs on cars made in the bloc.

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Friday, 22 June 2018

The late rally in banking & financials helped the the 50-share NSE Nifty recoup all its losses seen in the previous session and closed strongly above 10,800 levels on Friday, forming a 'Bullish Engulfing' pattern on the daily chart and a Doji type of candle on the weekly scale.
The index also rebounded sharply from close to its support levels of 10,700 levels.A bullish engulfing pattern is made up of two candles and is formed when a small black candle is followed by a large bullish candle that completely engulfs the previous day’s candle.
The Nifty50, after opening at 10,742.70, traded lower in the morning to hit day's low of 10,710.45, but recouped all those losses in afternoon and then turned strong in the last hour of trade to hit an intraday high of 10,837. It ended at 10,821.90, higher by 80.80 points from the last close.
Growth in the Chemicals and Polymers business (CPB) segment was on the back of healthy pricing and volume growth in the refrigerants business. The company also filed a patent for a drop in substitute for R-22 along with the DMF for Dymel’s HFC 134A pharma. Specialty chemical business remained subdued due to lower demand from the agrochemical segment with the overall outlook likely to improve only by the end of the calendar year,” analyst at Edelweiss Broking said in result update.
The brokerage firm believes the growth from dedicated plants and deferred orders in specialty chemicals business would drive growth in FY19 in wake of a delayed AgChem cycle recovery with capacity expansion in refrigerants to bolster growth in FY20.
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Thursday, 21 June 2018


NIFTY SPOT DOWN 16@ 10,722


RES2: 10875
RES 1:10810


RES 2: 27060
RES 1: 26800
SUP1: 26400
SUP2: 26210

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Wednesday, 20 June 2018

The market remained rangebound as investors monitor developments over trade tariffs between the world's largest economies US and China.
Index heavyweights Reliance Industries, Infosys, ICICI Bank and HDFC continued to support the market while FMCG and select banks stocks are under pressureThe sectoral trend remained mixed with the PSU Bank index falling over a percent.
The Nifty continues to remain in a range - the broader range for the overall direction of the markets is about 350 points. The support is at 10,550 and the resistance is at 10,900. We are vacillating within this range since the beginning of this month.
From a trading perspective the trimmed version of this range would be 10,700 - 10,850, a 150 points. This is usually not really a task for the index. However, these are testing times and a trader must be cautious on these levels being respected.
The good news however is that a one sided move would be expected if either levels are crossed which would then promise a delightful trade.
The company has a strong financial profile reflected in robust debt protection metrics and gearing of less than 1 times. The company is approaching the end of its large capex plan in its petrochemical & refining and telecom segments. This capital expenditure is mainly to strengthen its refinery and petrochemicals business and in the pan-India telecom and broadband services through Reliance Jio Infocomm, it added.
“RIL’s capex of USD 18.5 billion in Refining and Chemicals is nearing completion. Some projects are already operational, and will boost EBITDA in the core business over FY17-20E. During the last five years, high capex in Telecom and Core business has dragged RIL's free cash flow. Rising dividend payouts are likely hereon. Jio continues to gain 4G subscriber share, making us constructive on the business,” HDFC Securities said in Q4FY18 results update. The brokerage firm maintains ‘buy’ rating on the stock with 12 month SOTP-based target price of Rs 1,178.
The 30-share BSE Sensex rose 23.19 points to 35,570.52 and the 50-share NSE Nifty gained 4.20 points at 10,776.20.The market breadth is in favour of declines as about 1,069 shares slipped against 823 advancing shares on the BSE.
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Tuesday, 19 June 2018


NIFTY SPOT UP 40 @ 10751
SENSEX SPOT UP 115 @ 35402


RES2: 10875
RES 1:10810


RES 2: 26590
RES 1: 26400
SUP1: 26100
SUP2: 25900

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SENSEX DOWN  261@ 35286
HAPPY TRADING!!!!!!!!!!!

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Monday, 18 June 2018

Nifty midcap was trading lower but individual stocks are buzzing with Bata India up 2 percent followed by Mcleod Russel India.The broader indices are trading on a negative note this Monday morning with the Nifty down 22 points at 10,795 and the Sensex is trading lower by 65 points at 35,557.

Metal stocks were the biggest losers as Tata Steel, Jindal Steel & Power, JSW Steel, Hindalco Industries and Hindustan Zinc were down up to 3 percent.From the real estate space, Unitech, HDIL, Indiabulls Real Estate, Phoenix Mills and Sobha were the top losers.

The top gainers among Nifty constituents were HPCL, ICICI Bank, IOC, BPCL and HCL Tech.The most actively traded stocks on the NSE were Tata Consultancy Services, ICICI Bank, Dr Reddy's Labs, Infosys and Strides Shasun.

Bajaj Finance, Bharat Financial Inclusion, Jubilant Foodworks and Page Industries were the few stocks that hit fresh 52-week highs in the morning trade.On the other hand, 34 stocks hit a new 52-week low. These include ICRA, Bharti Infratel, IOB, Manpasand Beverages, MRPL, Tata Power and Vedanta among others.

The breadth of the market favoured declines, with 529 stocks advancing, 1035 declining and 492 remaining unchanged. On BSE, 681 stocks advanced, 1134 declined and 82 remained unchanged.

TCS hit a new high of Rs 1,871, up 1.6% on Monday, extending its Friday’s 2.7% gain the BSE after the company’s board approved a proposal to buy back up to 76 million equity shares worth about Rs 160 billion. The buyback price has been fixed at Rs 2,100 a share, a 14 per cent premium over its Friday’s closing price of Rs 1,841 market price. The promoters’ holding in the company now stands at 71.92%.Infosys, too, hit a new high of Rs 1,291, up 0.8%, extending its previous day’s 3.3% gain on the BSE.

At 09:38 am; the S&P BSE Index up 0.1% at 13,965, hit a record high of 14,071 in intra-day trade today. On comparison, the S&P BSE Sensex was trading 0.09% lower at 35,586 points.

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