Morning Notes LKP Advisory
Transcription
Morning Notes LKP Advisory
Morning Notes LKP Advisory 13 Oct-2014 FII's & DII's in equity Indices 13-Oct 10-Oct % Chg. M ajo r Indices 13-Oct 10-Oct % Chg. S&P B SE SENSEX 26,297 26,637 -1.28% CA C 40 Index 4,074 4,141 -1.64% 13-Oct B uy Rs.Crs S&P CNX NIFTY 7,860 7,961 -1.26% DA X Index 8,789 9,005 -2.40% FII' Investments 2577 3296 S&P B SE M ID CA P 9,444 9,576 -1.38% Do w Jo nes Industrial A 16,544 16,659 -0.69% DII's Investments 1867 1309 S&P B SE SM A LL CA P 10,611 10,732 -1.12% FTSE 100 Index 6,340 6,432 -1.43% FII's co ntributio n to the to tal turno ver 3 1% Nasdaq Co mpo site Ind 4,276 4,378 -2.33% DII's co ntributio n to the to tal turno ver 17 % M ajo r A sian Indices 13-Oct 10-Oct % Chg. FII's in Derivatives Hang Seng 23,089 23,535 -1.90% 15,301 15,479 -1.15% Net -1464 2222 -176 -13 1,941 1,965 -1.24% OI 10433 63832 42699 2214 Chg.OI -9.6% 3.7% -0.6% 3% FIIs' co ntributio n to the to tal Derivatives turn 22% S e ll N et -720 558 B SE Secto ral Indices S&P BSE IT 10,681 10,441 2.29% S&P BSE TECk 5,889 5,821 1.17% S&P BSE HEALTHCARE 13,702 13,728 -0.19% Nikkei 225 S&P BSE OIL & GAS 10,754 10,810 -0.52% KOSP I Index S&P BSE CONSUM ER DUR 9,590 9,684 -0.96% SSE Co mpo site Index ( 2,375 2,389 -0.62% S&P BSE POWER 2,007 2,033 -1.29% Taiwan Weighted 8,966 8,966 0.00% S&P BSE CAPITAL GOODS 13-Oct Rs.Crs Index Fut Index Opt Sto ck FutSto ck Opt 14,352 14,563 -1.45% S&P BSE PSU 7,780 7,898 -1.49% Co mmo dities ( MCX) 13-Oct 10-Oct % Chg. Futures (NSE) 13-Oct 10-Oct S&P BSE REALTY 1,592 1,617 -1.53% A luminium (31OCT2014 118 118 -0.08% USDINR 29-OCT-2014 61.53 61.23 0.49% S&P BSE BANKEX 17,694 18,018 -1.80% Co pper (28NOV2014) 414 413 0.35% EURINR 29-OCT-2014 77.94 78.18 -0.31% % Chg. S&P BSE FM CG 7,351 7,544 -2.56% Crude (20OCT2014) 5,284 5,264 0.38% JP YINR 29-OCT-2014 57.15 56.92 0.39% S&P BSE AUTO 17,348 17,844 -2.78% Go ld (5DEC2014) 26,964 26,958 0.02% FTSE100 (17-Oct-2014) 6443 6495 -0.80% S&P BSE M ETAL 10,931 11,401 -4.11% Silver (5DEC2014) 38,512 38,615 -0.27% S&P 500 (17-Oct-2014) 1924 1973 -2.50% C o m pa ny LT P INFY % C hg 3884 237 6.5 HCLTECH C o m pa ny JINDA LSTEL LT P 156 C hg % C hg -10 -5.9 Domestic Market View 1735 40 2.3 NM DC 152 -9 -5.4 Markets to make weak start of the new week A SIA NP A INT 664 9 1.4 TA TA M OTORS 495 -26 -4.9 B HEL 221 2 1.1 HINDA LCO 151 -7 -4.5 HEROM OTOCO 2843 24 0.8 448 -20 -4.3 C hg % C hg C hg % C hg The Indian markets suffered sharp plunge in last session and both the major indices lost over a percent on global growth concern. Today, the start is likely to remain cautious and muted, as all the Asian peers have made a weak start and Nifty may retest its crucial 7800 support levels in the very early deals. Traders will be first reacting to the disappointing IIP data announced after the market hours on Friday, which rose by just 0.4 per cent in August, substantially below the expectation of 2.4 per cent. Marketmen will also be eyeing the Consumer Price Index (CPI) data to be announced later in the day, however it is expected to ease to 7.2 per cent for the September as compared to 7.8 per cent reported in the month of August, helped by lower food and fuel costs. TA TA STEEL C o m pa ny LT P INFY 3889 243 6.7 UNITECH 22 1 3.8 JSWSTEEL GM RINFRA HCLTECH C o m pa ny LT P 19 -1 -6.3 1143 -71 -5.9 1739 44 2.6 JINDA LSTEL 156 -10 -5.8 A SIA NP A INT 663 8 1.3 B HA RA TFORG 762 -44 -5.4 P FC 241 3 1.1 NM DC 152 -9 -5.4 C hg % C hg C o m pa ny LT P C hg % C hg C o m pa ny LT P JETA IRWA YS 244 21 9.5 RISA INTL ABAN 622 54 9.4 UNITECH 19 -1 -6.3 DEN 150 7 5.2 M ONSA NTO 2919 -171 -5.5 P IP A VA VDOC 41 2 5.0 A M TEKINDIA 100 -6 -5.4 GM RINFRA 22 1 3.8 M A HA B A NK 40 -2 -5.3 C hg % C hg C o m pa ny LT P C hg % C hg C o m pa ny 251 LT P -31 -11.1 LIFELINE 295 45 18.0 INDINFO 1 0 -18.9 NDTV 139 19 16.0 SHRGLTR 21 -3 -10.6 TDP OWERSYS 375 41 12.4 SHA LP RO 4 0 -9.9 FINA NTECH A STA R C hg 231 19 8.9 KA ILA SH 22 -2 -9.3 1290 100 8.4 B A NA SFN 17 -2 -9.1 Meanwhile, Finance Minister Arun Jaitley has given the goahead for a major overhaul of the current monetary policy framework wherein the Centre will specify ‘inflation targets’ for the Reserve Bank of India (RBI) to achieve and the RBI will set inflation as its top priority in its policy statements. There will be buzz in the India Inc on reports that the Reserve Bank of India (RBI) plans to announce the final norms on small and payments banks next month. There will be some buzz in the coal and power stocks too, as the PMO has asked the Coal Ministry to work out a plan of action to deal with the present situation -- arising out of the Supreme Court’s cancelling the allocation of 214 coal blocks.. Domestic Market Overview Benchmarks witness massacre on feeble global cues Indian barometer gauges witnessed bloodbath on Friday with both the major indices losing over one percent and ending below their crucial 7,900 (Nifty) and 26,300 (Sensex) levels. Sentiments remained dampened throughout the session after two Fed officials’ indicated that the Federal Reserve will probably start raising interest rates around the middle of next year. Moreover, investors opted to stay away from risky assets ahead of the industrial production data due later during the day. Selling was both brutal and wide-based as none of sectoral indices, barring software and technology, on BSE were spared. Counters, which featured in the list of worst performers, include metal, auto and fast moving consumer goods. Sentiments remained down-beat on report from the HSBC Emerging Markets Index (EMI) has stated that manufacturing and services sectors in India expanded at a slower pace than China in September, even as emerging market output touched an 18 month high in the same month. Moreover, market-participants failed to draw any sense of relief from better than expected Infosys numbers. The IT bellwether has not only surpassed market expectations on almost all operating and financial fronts but gave a surprise to the street with a 1:1 bonus announcement. However, the company has maintained its guidance at 7-9% in dollar revenue growth, which is much lower than Nasscom’s growth rate of around 13-15%. The market sentiment was weighed down by the weakness in rupee which fell in on Friday due to fresh demand for the US currency from banks and importers. Sentiments also remained dampened on report that foreign portfolio investors (FPIs) sold shares worth a net Rs 20.89 crore on October 9, 2014. Stocks related to metal sector hit rock bottom on the back of swift retreat in Chinese demand for iron ore and coal which in turn led the global iron ore prices to touch near five-year lows and local coal prices to their weakest in six years. On the flip side, stocks related to software and technology counters edged higher, as the finance ministry has said that companies will be able to transfer or redeploy up to 50% of manpower from existing units to new ones in special economic zones (SEZs) without losing any tax benefits. Global Market Overview Asian markets end in red on Friday Asian markets ended in red on Friday, after a warning by the European Central Bank about that region’s economic outlook sparked a rout in US shares.Taiwan market remained shut for the trade today for National Day.The Bank of Japan agreed that exports remained weak and a few of them were cautious about a sustainable rise in exports, the minutes of the bank’s September 3-4 policy meeting released showed. Despite sluggish exports and factory output, the nine-member board still believed that the positive domestic cycle from income to spending was in place in both the household and corporate sectors, and that Japan’s economy was likely to continue its moderate recovery trend, overcoming the drag from the April sales tax hike. Global growth concerns drag US markets lower on Friday Extending their previous session’s southward journey, the US markets ended notably lower on Friday on account of global sell-off, with stock markets in Asia and Europe falling sharply on the day. European growth concerns were mainly cited for the weakness. Investors remained worried about the euro-zone economy after the week’s poor figures from Germany and comments from ECB president Mario Draghi that the recovery was running out of steam. On economic front, the US Labor Department released a report before the start of trading showing that another sharp drop in fuel prices contributed to a continued decline in U.S. import prices in the month of September. The Labor Department said its import price index fell by 0.5 percent in September following a revised 0.6 percent drop in August. The street had been expecting import prices to slide by about 0.7 percent. The report also showed that export prices dipped by 0.2 percent in September after falling by 0.5 percent in August. Dow Jones Industrial Average lost 115.15 points or 0.69 percent to 16,544.10, Nasdaq was down by 102.10 points or 2.33 percent to 4,276.24, while S&P 500 ended lower by 22.08 points or 1.15 percent to 1,906.13. 1,928.21 LKP Advisory Index Futures (OI in '000 Shares) Future Chg Spot Chg Prem / 13-Oct (%) 13-Oct (%) Disc Total Open Interest 13-Oct Chg (%) NIFTY 7,887 -1.30 7,860 -1.26 26.9 16,520 -5.7 CNXIT 11,327 2.07 11,311 2.22 16.0 46 -6.1 BANKNIFTY 15,496 -2.55 15,454 -1.83 42.5 1,601 -3.2 Increasing OI, Increasing Delivery Qty & Increasing Price in Stock Futures (Open Interest in '000 Shares) Symbol Total OI 13-Oct % Chg. Del Qty Cash Market 13-Oct % Del. Prev % Del. Increase Del Qty Spot (Rs.) Fut Spot Fut (Rs.) Chg (%.) Chg (%.) Prem / Disc INFY 4,354 7% 18,56,778 29% 61% 7,93,594 3889 3878 6.6% 6.5% -10.3 BHEL 35,202 6% 38,58,792 29% 28% 1,65,698 222 219 1.2% 0.7% -3.0 2,27,590 1% 70,91,141 18% 23% 9,77,724 22 22 3.8% 3.5% 0.1 5,902 0% 12,54,073 50% 42% 3,93,222 592 595 0.1% 0.0% 3.1 Fut Spot Fut (Rs.) Chg (%.) Chg (%.) Prem / Disc GMRINFRA CIPLA Increasing OI, Increasing Delivery Qty & Decreasing Price, (Open Interest in '000 Shares) Symbol Total OI 13-Oct % Chg. Del Qty Cash Market 13-Oct % Del. Prev % Del. Increase in Del Qty Spot (Rs.) ORIENTBANK 6,880 19% 5,70,741 24% 25% 23,754 224 225 -4.7% -4.8% SUNTV 1,862 9% 3,14,355 50% 39% 1,19,672 335 335 -1.6% -2.3% 0.1 BHARATFORG 5,046 8% 8,04,163 49% 38% 5,75,153 761 764 -5.6% -5.7% 2.9 CROMPGREAV 15,784 6% 21,66,389 37% 33% 4,48,511 202 203 -3.4% -3.5% 0.9 SAIL 40,972 6% 36,88,820 46% 30% 27,31,554 73 71 -0.4% -1.7% -2.2 TATASTEEL 19,284 6% 23,16,443 38% 30% 6,49,175 448 450 -4.2% -4.2% 1.8 MCLEODRUSS 0.7 2,538 5% 1,06,589 49% 47% 40,019 272 273 -2.9% -3.1% 1.3 1,57,063 5% 1,12,18,239 19% 15% 19,14,774 19 19 -6.3% -6.5% 0.1 HEXAWARE 10,520 5% 7,37,768 23% 18% 4,17,943 191 192 -0.3% -0.1% 1.3 CAIRN 14,300 4% 18,57,139 59% 62% 10,07,437 286 286 -4.3% -4.6% 0.2 UNITECH Open Interest Break-up (Rs. in Cr.) 13-Oct 10-Oct Change in OI % Chg INDEX FUTURES 15,676 16,803 -1,127 -6.71 INDEX OPTIONS 1,09,765 1,05,742 4,023 3.80 TOTAL INDEX 1,25,441 1,22,545 2,896 2.36 -1.61 STOCK FUTURES 53,016 53,882 -866 STOCK OPTIONS 15,874 15,033 840 5.59 TOTAL STOCKS 68,890 68,915 -25 -0.04 GRAND TOTAL 1,94,331 1,91,460 2,871 1.50 FII's 1,19,179 1,18,206 973 0.82 75,152 73,254 1898 2.59 Others LKP Advisory Corporate News ¾ Reliance Industries is planning to spend $16 billion for expanding petrochemical production capacity and lower feed and fuel costs to boost profits. The company will invest the same in an integrated gasification combined cycle (IGCC) project that will convert captive petrocoke to synthetic gas (syngas) which can be used to generate power, steam and hydrogen, which currently are being produced using expensive imported LNG. Refinery off-gas from this unit will be used to extract petrochemical compounds like ethane, ethylene, propylene, butanes and propanes at a $4.5 billion Refinery off-gas cracker (ROGC). ¾ In the wake of weak demand, Mahindra & Mahindra (M&M) is all set to stop production for four days this month across its tractor plants located at Rudrapur and Jaipur. As part of aligning its production with sales requirements, the company would be observing no production days at its tractor plants located at Rudrapur and Jaipur for four days during the balance period of October, 2014. ¾ In a bid to offer enhanced broking services, Federal Bank has entered into partnership with India Infoline, a part of IIFL Group. Federal Bank’s customers in India and abroad will be offered IIFL’s enhanced broking services. The bank is aiming to connect its customers in India and abroad to one of the most trustworthy brands in broking. ¾ Indovation Technologies has signed a term sheet to buy 100% stake in Symetric Life, a Hyderabad-based pharma solutions & services company for Rs 15 crore. Along with the stake, the company would also acquire three products - SyMetric used for clinical data management system (CDMS); Mindomatics used for computerised psychometrics tests and a pharma application likely to be rolled out by December 2014. ¾ Bharti Airtel has entered into partnership pact with the Telangana government to unveil the first public Wi-fi in the state. At present, the pilot is in progress at 17 tested hotspot locations in Hyderabad that allow users to access Internet upto 750 Mb per day across operators. ¾ Power Finance Corporation (PFC) has agreed to fund the expansion of the AP Genco Krishnapatnam power project in Nellore district of Andhra Pradesh. The project now has a functional 800 MW unit and second unit of 800 MW is ready for commissioning. ¾ HDFC Mutual Fund (MF) has acquired additional stake in TD Power Systems through open market transaction. HDFC Trustee Company A/c HDFC Prudence Fund has bought 250,000 equity shares of the company at Rs 325 per share on October 9 on NSE. Moreover, the fund house bought 200,000 shares of heavy electrical equipment maker at Rs 319 per share on October 8 on BSE. On October 7, HDFC Trustee Company through various schemes bought 1.99 million shares representing 6% of total equity of the company via BSE and NSE. ¾ Cairn India’s average gross production for H1 FY15 stood at 206,125 barrels of oil equivalent per day (boepd), 3% lower than the previous year due to the planned maintenance shutdown at the Rajasthan facilities and a suspension of gas sales at the Ravva block, partially offset by higher production at the Cambay block. ¾ Aban Offshore has bagged total orders worth $182.66 million from ONGC. The first firm order is for the deployment of jack-up rig ‘Aban IV’ for a period of 3 years. The total value of this order is approximately $91.33 million equivalent to Rs 557 crore. The contract is expected to commence during the first quarter of calendar year 2015. ¾ Tata Teleservices (Maharashtra) (TTML) has reported the subscriber figures as on September 30, 2014. The company’s total subscribers stood at 10,751,467 of which Wireline contributed 825,587, FWT 713,433 and Mobile 9,212,447 subscribers. ¾ Foreign institutional investors (FIIs) have reduced their shareholding in Uco Bank by 21 basis points to 4.68 percent in Q2FY15 from 4.89 percent as on June 30, 2014. However, the domestic institutional investors (DIIs) have raised their stake in the bank by 44 basis points to 9.17 percent at the end of September 2014 from 8.73 percent as on June 30, 2014. ¾ Rourkela Steel Plant (RSP), a unit of Steel Authority of India (SAIL), has reported 23% rise in Crude steel output during April-September period of 2014-15 to 1.35 million tonne (mt), its best ever performance since the inception of the plant. During the same period, hot metal production surged 27.4% to 1.5 mt while salable steel output was 1.28 mt, a rise of 18.3%. ¾ IDFC Alternatives, multi-asset class management arm of IDFC, has announced final closing for its $900 million India Infrastructure Fund II. This includes a commitment of $90 million from its parent IDFC Limited and remaining $810 million from third party Limited Partners (LPs). LKP Advisory ¾ Foreign institutional investors (FIIs) have reduced their stake in Indian Bank by 73 basis points to 6.16 percent at the end of September 2014 quarter from 6.89 percent as on June 30, 2014. However, domestic institutional investors (DIIs) have raised their shareholding in the bank by 193 basis points to 8.41 percent in Q2FY15 from 6.48 percent as on June 30, 2014. ¾ Maruti Suzuki India is aiming to expand its presence in the A3 plus segment with Ciaz, which replaces SX4 sedan. Presently, the market in A3 plus segment is about 1.25 lakh units out of 5 lakh in entire A3 segment, which is 20% of the 25 lakh car market. ¾ JSW Steel’s crude steel production in Q2FY15 increased by 11% and stood at 3.30 million tonnes as compared to 2.98 million tonnes in Q2FY14. The production of rolled products (flat) increased by 6% to 2.61 million tonnes as compared to 2.45 million tonnes in Q2FY14. Moreover, the production of rolled products (long) during the quarter soared by 21% at 0.56 million tonnes as compared to 0.46 million tonnes in Q2FY14. ¾ Foreign institutional investors (FIIs) have increased their stake in Eros International Media by 163 basis points to 17.78 percent at the end of September 2014 quarter from 16.15 percent as on Jun 30, 2014. Domestic institutional investors (DIIs) shareholding was unchanged at 1.24 percent at the end of September 2014. ¾ Global Offshore Services has entered into a Memorandum of Agreement for acquisition of one Anchor Handling Tug cum Supply vessel, which is scheduled for delivery in Q12015. ¾ Lakshmi Automatic Loom Works has suspended the operations at Weaving Machinery Division at Hosur with immediate effect, pending finalization of discussions with prospective foreign collaborators for manufacture of shuttleless weaving machines. The company has taken this step in view of lack of orders for high speed ‘C’ type automatic shuttle weaving machines. ¾ Solix Technologies, Inc., a leading provider of Enterprise Data Management (EDM) solutions, has partnered with Hortonworks to deliver an integrated Information Lifecycle Management (ILM) solution for the Hortonworks Data Platform (HDP). The Solix Big Data Suite provides an ILM policy framework for Hadoop to manage the data lifecycle including ingestion, retention, archiving and retirement, ensuring security, compliance and control for low cost, bulk data storage on a petabyte scale. ¾ Suraj has acquired land at village Chandarda, Mehsana district in state of Gujarat admeasuring 400,000 square meters which is almost clear from agriculture to non agriculture and company is starting service center and production facility including extrusion press for stainless steel long heater tube for power, oil and gas plant sectors. ¾ Jindal Steel & Power (JSPL) has received an approval for acquisition of remaining 10,20,000 equity shares of Rs 10 each for an aggregate amount of Rs 1.02 crore only representing 51% equity stake in ‘JB Fabinfra’ (JBFAB) from its existing shareholders. The board of directors at their meeting held on October 09, 2014 has approved for the same. ¾ Pritish Nandy Communications’ (PNC) subsidiary - PNC Digital, has announced an exclusive partnership of Ogle, its cutting edge video and audio streaming platform with Think Why Not Group (TYN), the marketing force behind India’s bestselling authors. This partnership empowers Ogle subscribers to watch live streamed events at Litomania, The October Lit Fest. ¾ Cupid has signed a 10 year Male Condom supply agreement with Safeware & Company based in Florida, USA. Cupid's WHO/UNFPA Prequalified Male Condoms will be marketed under Cupid’s popular Green Love Brand throughout USA. Economy ¾ Industrial production growth slows down to 0.4% in August Contradicting the signs of economic revival, Indian industrial production (IIP) slows down to 0.4% y-o-y in the month of August as compared to 0.5% growth in the previous month and 0.4% in the same month of previous year. IIP growth in August was below than market expectation and mainly dragged down by contraction in manufacturing sub-sector. The cumulative growth of industrial production for the period AprilAugust’ FY15 recorded at 2.8% as compared to 0% growth in the same period of previous fiscal. Sector wise, the output of manufacturing sector, which occupies 75.52% weightage in the overall index, declined by 1.4% in August as compared to the de-growth of 1% in the previous month. Electricity sector, which occupies 10.32% weightage in the overall index, grew by 12.9 % in the reported month as against 11.7% in July and mining sector output grew by 2.6% as compared to 2.1% in the previous month. LKP Advisory The cumulative growth of Mining, Manufacturing and Electricity sectors during April-August’ FY15 over the corresponding period of 2013-14 stood at 2.5%, 1.8% and 11.7% respectively. On Use-based classification, capital goods production, a barometer for investments in the economy, witnessed a contraction of 11.3% in August as against a de-growth of 3.8% in July, showing that companies did not add new capacities in the reported month. ¾ Govt allows IT firms to transfer manpower to SEZs without losing tax benefits In a big sigh of relief to Information technology and IT-enabled services (ITeS) sectors firms, the government has permitted these firms to transfer or redeploy up to 50% of manpower from existing units to new ones in special economic zones (SEZs) without losing any tax benefits. The Central Board of Direct Taxes (CBDT) has notified that mere transfer or redeployment of technical manpower from an existing unit of a taxpayer to a new SEZ unit in the first year of commencement of business will not be construed as splitting up or reconstruction of an existing business, provided the number of technical staff so transferred does not exceed 50% of the total manpower actually engaged in developing software at any point of time. Earlier, the limit of technical staff transferred was set at much lower at 20%. The government decision came after intense pressure by the industry body Nasscom seeking clarity over the availability tax benefits to the IT companies that have set up parallel operations in SEZs to take advantage of profit-linked exemptions available under the policy. Section 10AA of the Income Tax Act, 1961 provides tax benefit to a unit set up in a SEZ if the revenue is generated from exports of computer software or from providing ITeS. However, this tax exemption is not available till now if the unit is formed by transfer of used plant or machinery or splitting or reconstruction of an existing business. ¾ India initiates measures to ease customs norms In order to boost the international trade, India has initiated measures to ease customs norms. The government has decided to set up a national committee which will have representation from 7-8 departments to look after all aspects of trade facilitation. The committee will suggest and implement measurers to ensure seamless movement of cargo by addressing constraints like high transaction costs and poor infrastructure. The move to ease custom norms came after the government blocked an international agreement on easing trade regulations. On July 31, India vetoed the trade facilitation agreement at the World Trade Organisation (WTO), arguing that there should be parallel deal on food security issue. However, India is fully committed to trade facilitation which is aimed at simplifying customs procedure, reducing transactions cost and increasing transparency. Prime Minister Narendra Modi, during his US visit, had told President Barack Obama that trade facilitation was important for India and it expected the US' support in addressing India's concerns over public stockholding for food security. Moreover, Finance Minister Arun Jaitley in its budget speech had said that the government will allocate significant funds towards trade facilitation and provide facility like extension of 24x7 customs clearance facilities to many more ports, airports and sea ports. ¾ Govt notifies 25% minimum public shareholding norms for listed PSUs The government has notified 25% minimum public holding norms for listed public sector units (PSUs). The move is likely to help the government to disinvest PSU shares worth an estimated Rs 60,000 crore over the next three years as well as ensure more PSU shares for retail investors. As per the government notification, over 30 listed PSUs will need to raise their public shareholding to minimum 25% by August 21, 2017. Presently, the listed PSUs were required to have at least 10% public holding, whereas the minimum public holding in non-PSU listed companies is already 25%. The government had already decided that there should be a uniform norm for all companies listed on stock exchanges. There are around 9 public sector banks (PSBs), 25 Central Public Sector Enterprises (CPSEs) and one State-level public enterprise (SLPE) which are listed and have less than 25% minimum public shareholding. LKP Advisory ¾ HSBC Emerging markets index rises to 18-month high at 52.5 in September Indicating that economic growth in emerging countries continues to revive, the services and manufacturing activities across emerging markets touched an 18-month high level during September. The HSBC Composite Emerging Markets Index, based on the survey of around 8,000 firms in 17 countries, rose to 52.5 in September, up from 52.4 in August. Moreover, on a quarterly basis the EMI averaged 52.2 in Q3, the best since the Q1 of 2013. The HSBC survey highlighted that services activity rose at a stronger rate than manufacturing output for the second month running. The significant output growth was mainly driven by strongest growth in China's services economy as services activity in Brazil, India and Russia rose at either weak or marginal rates. However, the survey highlighted that the manufacturing and services sectors in India expanded at a slower pace as compared to China in September. In Brazil, business conditions improved, albeit marginally, for the first time in six months in September, with an upturn in new orders paving the way for a further upturn in the fourth quarter. While, Russia continued to eke out marginal growth in September, however, the inflows of new business slow to near stagnation. ¾ India to receive the highest-ever inflow of FDI in the fiscal: DIPP official Giving a reason to cheer to the new government, the Department of Industrial Policy and Promotion (DIPP) has said that India will receive the highest-ever inflow of foreign direct investment (FDI) in the current financial year, attracted by the policy reforms announced by the National Democratic Alliance (NDA) government. While the highest so far FDI received by the country was in 2011-12 at $35.12 billion, in the four months of this fiscal alone inflows have crossed $10.75 billion and in June only FDI inflow jumped by 34 percent to $1.92 billion. The new government, since its formation has been taking all sorts of measures to boost FDI inflow in the country. It has raised FDI limit in defence manufacturing and also cleared the long-delayed 100 percent FDI in railways, while there is a debate going on regarding 100 percent FDI in the insurance sector. Atul Chaturvedi, joint secretary in the DIPP said that we would achieve an all-time high in FDI inflows in FY15 given the extra focus on the same we are giving and looking at increasing FDI with all these promotional measures and promoting the country as an investment destination. He, however, declined to give a target for the inflows, which the government is expecting for the fiscal. Source: Reuters, Ace Equity & LKP Research LKP Advisory Tech View CNX NIFTY TECHNICAL VIEW After a brief bounce Nifty has again fallen back to 7850 levels indicating that volatility is likely to stay in the index. However, the index has taken support at around 7820 level on multiple occasions and same is expected from Nifty in coming days. If Nifty manages to sustain 7850 level then it can test 7920-7950 levels. The index has strong resistance at 8000 level and unless Nifty closes above that level further upside in the index will remain a faint possibility. IMPORTANT LEVELS FOR THE DAY Support BSE NSE BANKNIFTY S1 26,459 7831 15390 S2 26,462 7773 15246 R1 26,454 7924 15624 R2 26,451 7982 15769 Pivot 26,456 7,877 15,507 Resistance LKP Advisory PIVOT POINTS S c rip Na me CMP RB2 RB1 PP S B1 S B2 S c rip Na me 1403 1435 1419 1405 1392 1375 GAIL ADANIENT 461 474 466 460 454 446 ADANIPORTS 259 276 268 262 255 247 ADANIPOWER 43 45 44 43 42 41 GODREJIND ALBK 100 106 103 100 97 93 GRASIM AMBUJACEM 211 219 215 213 210 206 HAVELLS 266 279 273 268 263 257 ANDHRABANK 66 72 69 66 63 60 HCLTECH 1738 1800 1757 1722 1688 1645 APOLLOHOSP 1055 1104 1078 1057 1036 1010 HDFC 1006 1068 1040 1017 994 965 APOLLOTYRE 220 241 229 219 210 198 HDFCBANK 867 900 885 872 860 844 ARVIND 281 300 292 285 277 269 HDIL 81 84 83 81 80 78 44 47 46 44 43 42 2841 2975 2893 2826 2760 2678 ASIANPAINT 663 701 678 660 641 619 HEXAWARE 191 207 198 191 184 176 AUROPHARMA 939 985 963 945 928 906 HINDALCO 150 159 155 152 148 144 AXISBANK 379 390 384 380 376 371 HINDPETRO 509 532 521 512 503 492 2354 2423 2380 2344 2309 2265 HINDUNILVR 720 750 736 725 714 700 BANKBARODA 859 893 876 862 849 832 HINDZINC 155 165 160 156 152 148 BANKINDIA 239 255 246 240 233 225 IBREALEST 67 70 69 67 65 64 BATAINDIA 1299 1368 1335 1309 1282 1249 1459 1505 1483 1465 1447 1425 BHARATFORG 761 837 802 774 745 710 IDBI 61 63 62 61 60 59 BHARTIARTL 392 411 402 395 388 379 IDEA 153 164 159 155 150 145 BHEL 222 236 227 220 213 204 IDFC 140 145 142 140 137 134 ACC ASHOKLEY BAJAJ- AUTO CMP RB2 RB1 PP S B1 S B2 444 457 449 442 436 428 GLENMARK 711 735 723 713 703 691 GMRINFRA 22 24 23 22 20 19 290 301 296 292 287 282 3424 3553 3491 3440 3389 3327 HEROMOTOCO ICICIBANK BIOCON 482 504 494 485 477 467 IFCI 34 35 34 34 33 32 BPCL 670 693 682 673 665 654 IGL 422 452 437 425 413 399 CAIRN 286 306 296 288 280 271 INDIACEM 109 114 112 109 107 104 CANBK 367 382 374 367 361 353 INDUSINDBK 623 640 630 623 615 606 CENTURYTEX 529 554 543 533 523 512 INFY 3889 4253 3997 3790 3583 3326 CESC 735 774 756 741 726 707 IOB 57 60 59 58 57 55 CIPLA 592 616 602 590 579 565 IOC 375 402 390 380 369 357 COALINDIA 335 348 342 337 332 326 IRB 229 242 235 229 224 216 1704 1763 1734 1710 1685 1656 ITC 353 375 365 357 349 339 CROMPGREAV 202 216 210 204 199 192 JINDALSTEL 156 171 164 158 152 145 DABUR 215 217 216 215 215 213 JISLJALEQS 78 82 80 78 77 75 DISHTV 54 55 55 54 53 53 JPASSOCIAT 30 32 31 30 29 27 1767 1824 1792 1767 1741 1710 JPPOWER 12 13 13 12 12 12 153 163 157 152 147 141 JSWENERGY 73 76 74 73 71 69 2999 3102 3049 3006 2964 2911 JSWSTEEL 1143 1263 1206 1160 1114 1057 EXIDEIND 167 175 171 168 165 162 JUBLFOOD 1225 1281 1255 1233 1212 1185 FEDERALBNK 128 138 133 130 126 122 JUSTDIAL 1659 1783 1725 1678 1631 1573 COLPAL DIVISLAB DLF DRREDDY LKP Advisory PIVOT POINTS S c rip Na me CMP RB2 RB1 PP S B1 S B2 KOTAKBANK 1003 1037 1020 1006 993 976 KTKBANK 111 117 114 112 110 107 L&TFH 66 68 67 66 65 CMP RB2 RB1 PP S B1 S B2 TATACHEM 389 402 395 390 384 377 TATACOMM 378 401 387 376 364 350 64 TATAGLOBAL 160 168 164 161 158 154 312 326 320 314 309 302 TATAMOTORS 493 534 514 499 483 464 LT 1462 1508 1482 1461 1440 1415 TATAMTRDVR 324 354 340 330 319 305 LUPIN 1328 1357 1342 1329 1317 1302 TATAPOWER 83 86 84 83 82 80 M&M 1317 1399 1362 1332 1302 1265 TATASTEEL 448 471 460 451 443 432 M&MFIN 285 295 288 282 277 270 TCS 2679 2773 2728 2691 2655 2610 MARUTI 2966 3041 3000 2968 2935 2894 TECHM 2339 2446 2390 2345 2300 2244 MCDOWELL- N 2352 2457 2397 2348 2300 2240 TITAN 398 416 407 399 392 383 MCLEODRUSS 272 285 279 274 269 263 UBL 703 730 716 704 692 678 31676 32923 32341 31870 31399 30817 79 83 81 80 78 76 NHPC 19 20 19 19 19 19 2481 2604 2548 2503 2458 2402 NMDC 152 168 160 155 149 142 UNIONBANK 201 214 207 202 196 189 NTPC 141 145 143 141 139 137 UNITECH 19 21 20 20 19 18 OFSS 3341 3458 3402 3356 3310 3254 UPL 332 347 340 334 328 321 ONGC 404 415 410 406 401 396 VOLTAS 227 243 235 229 223 215 ORIENTBANK 224 240 232 226 220 213 WIPRO 585 614 600 588 576 562 PETRONET 179 188 184 180 176 172 YESBANK 573 593 581 571 561 548 PFC 241 259 248 239 230 218 ZEEL 319 329 324 319 315 310 PNB 900 935 914 896 879 857 POWERGRID 136 140 138 137 135 134 83 85 84 83 82 81 RANBAXY 609 643 623 607 591 571 RCOM 102 107 104 102 100 98 RECLTD 252 270 259 250 241 231 RELCAPITAL 443 462 453 446 439 430 RELIANCE 961 1001 976 955 935 910 RELINFRA 582 627 602 583 563 539 LICHSGFIN MRF PTC RPOWER 71 74 72 71 70 69 SAIL 73 79 76 73 71 68 SBIN 2451 2542 2496 2459 2422 2376 SIEMENS 810 855 834 816 799 778 SRTRANSFIN 877 926 901 882 862 837 SSLT 250 268 259 252 245 237 SUNPHARMA 821 858 836 817 799 776 SUNTV 335 344 339 335 331 326 112 119 115 112 109 106 SYNDIBANK LKP Advisory S c rip Na me UCOBANK ULTRACEMCO The information in this documents has been printed on the basis of publicly available information, internal data and other reliable sources believed to be true and is for general guidance only. 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