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Thursday, 31 March 2016
Rupee Opens Higher at 66.35 per Dollar
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The Indian rupee has opened marginally higher at 66.35 per dollar on Thursday against previous close of 66.37.
"USD-INR is expected to gradually drift lower on year end remittances and custodial inflows.
USD-INR trading range for today is 66.15-66.45/dollar."
Indian ADRs: HDFC Bank, Dr Reddy's Lab, ICICI Bank Up
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Indian ADRs ended higher on Wednesday. In the banking space, ICICI Bank rose 0.26 percent at USD 7.10 and HDFC Bank gained 1.70 percent at USD 60.86.
In the IT space, Infosys rose 0.47 percent at USD 19.16 and Wipro added 0.13 percent at USD 12.53.
In the other sectors, Tata Motors rose 0.36 percent at USD 29.03 and Dr Reddy's Laboratories advanced 1.05 percent at USD 45.48.
Wall Street Plows Higher as Anxiety falls to seven-month low
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US stocks plowed further into positive territory for 2016 on Wednesday, helped for a second session by comments from Federal Reserve Chair Janet Yellen that eased anxiety about potential interest rate hikes.
MetLife and other financial stocks led the market higher with Apple and other technology stocks also gaining.
Wednesday, 23 March 2016
JSW Steel good bet, like DLF, Tata Power may hit Rs 65
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"I like the structure of JSW Steel . In fact, I have a very aggressive target in the medium term and the long-term.
That is why I felt it was a safer bet today. I had a choice between Tata Steel and JSW Steel, I preferred JSW Steel.
It can climb closer to levels of Rs 1,255, keep stop loss below Rs 1,205." "I like DLF , I had a choice between DLF and Housing Development and Infrastructure (HDIL).
I just happened to pick up DLF because yesterday, it had some 5 percent upmove. So far looks good to me after a good consolidation. I would have a target between Rs 120 and Rs 125 zones and would have a stop loss around Rs 110," he said.
It can climb closer to levels of Rs 1,255, keep stop loss below Rs 1,205." "I like DLF , I had a choice between DLF and Housing Development and Infrastructure (HDIL). Sensex, Nifty open lower
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The market has opened weak on Wednesday.
The Sensex is down 68.30 points or 0.3 percent at 25262.19 and
the Nifty is down 11.30 points or 0.1 percent at 7703.60.
About 375 shares have advanced, 264 shares declined, and 25 shares are unchanged.
The Sensex is down 68.30 points or 0.3 percent at 25262.19 and Asian Shares consolidate gains as Risk appetite Holds
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Asian shares consolidated their gains on Wednesday, shaking off earlier losses following attacks on the airport and a rush-hour metro train in Brussels as investors look to a brightening global economic picture.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent but clung near 3 1/2-month high hit earlier this week while Japan's Nikkei inched up 0.1 percent. Wall Street shares were mixed on Tuesday.
The S&P 500 lost 0.09 percent while the Nasdaq Composite added 0.27 percent.
But emerging markets fared better, with MSCI's emerging market index rising 0.2 percent to four-month high, having gained more than 20 percent from its seven-year trough high in January.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent but clung near 3 1/2-month high hit earlier this week while Japan's Nikkei inched up 0.1 percent. Wall Street shares were mixed on Tuesday. Indian ADRs: Dr Reddy's Lab, HDFC Bank, Infosys down
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Indian ADRs ended lower on Tuesday. In the IT space, Infosys was down 0.17 percent at USD 18.51 and Wipro was down 0.05 percent at USD 12.31.
In the banking space, ICICI Bank was down 0.09 percent at USD 6.91 and HDFC Bank shed 0.57 percent at USD 59.06.
In the other sectors, Tata Motors was unchanged at USD 28.08 and Dr Reddy's Laboratories declined 1.62 percent at USD 45.88.
In the banking space, ICICI Bank was down 0.09 percent at USD 6.91 and HDFC Bank shed 0.57 percent at USD 59.06. Rupee opens Marginally lower at 66.75 per Dollar
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The Indian rupee has opened lower by 5 paise at 66.75 per dollar on Wednesday against previous close of 66.71 a dollar.
"With the end of the financial year approaching and a long holiday weekend in India, activity in currency markets is expected to be muted."
"The USD-INR pair is expected to trade in a range of 66.60-66.90/dollar today," he added.
"With the end of the financial year approaching and a long holiday weekend in India, activity in currency markets is expected to be muted." Tuesday, 22 March 2016
NTPC arm commissions 250 MW unit at Nabinagar
State-run power major NTPC said its installed capacity has increased to 45,798 MW after commissioning of a 250 MW Unit-I of its arm at Nabinagar.
"The Unit-I of 250 MW of Nabinagar Thermal Power Station of Bhartiya Rail Bijlee Company Ltd (a subsidiary of NTPC) has been commissioned on March 20, 2016," NTPC said in a BSE filing.
With this, the total installed capacity of Nabinagar Thermal Power Station has become 250 MW and the total installed capacity of NTPC group has become 45,798 MW, it added.
Bharatiya Rail Bijlee Company Ltd (BRBCL), a subsidiary of NTPC was incorporated on November 22, 2007 with 74:26 equity contribution from NTPC and Ministry of Railways, respectively for setting up of four units of 250 MW each of coal based power plant at Nabinagar, Bihar.
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Nifty Below 7700, Sensex in Red
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The market has slipped quickly as the Sensex is down 73.55 points or 0.3 percent at 25211.82.
The Nifty is down 26.55 points or 0.3 percent at 7677.70.
About 668 shares have advanced, 475 shares declined, and 67 shares are unchanged.
BHEL, Lupin, Sun Pharma, Tata Steel and M&M are top gainers while Adani Ports, HDFC, Infosys, Wipro and Hero MotoCorp.
The Nifty is down 26.55 points or 0.3 percent at 7677.70. Rupee opens marginally lower at 66.58 per dollar
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The Indian rupee opened marginally lower at 66.58 per dollar on Tuesday against previous close of 66.53.
"The improved risk sentiment and pick up in portfolio flows has helped the USD-INR pair to settle near 66.50/dollar level, and lot of support has been seen around this level."
"The improved risk sentiment and pick up in portfolio flows has helped the USD-INR pair to settle near 66.50/dollar level, and lot of support has been seen around this level."Indian ADRs: Dr Reddy's Lab, Tata Motors, Infosys gain
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Indian ADRs ended higher on Monday. In the banking space, ICICI Bank was up 0.05 percent at USD 7 and HDFC Bank gained 0.96 percent at USD 59.63.
In the IT space, Infosys was up 0.16 percent at USD 18.68 and Wipro added 0.03 percent at USD 12.36.
In the other sectors, Tata Motors added 0.46 percent at USD 28.08 and Dr Reddy's Laboratories rose 0.38 percent at USD 47.50.
In the IT space, Infosys was up 0.16 percent at USD 18.68 and Wipro added 0.03 percent at USD 12.36. Friday, 18 March 2016
Aurobindo Gets Final USFDA Nod for pre-Surgery Sedation Drug
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Aurobindo Pharma has received final approval from the USFDA to manufacture and market pre- surgery sedation injections Dexmedetomidine Hydrochloride.
"The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Dexmedetomidine Hydrochloride Injection, 200 mcg (base)/2 mL (100 mcg (base)/mL) single-dose vials," Aurobindo Pharma said in a BSE filing today.
The company said the approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug Precedex Injection, 200 mcg/2 mL, of Hospira Inc and this product is expected to be launched in the first quarter of next fiscal.
The approved product has an estimated market size of USD 59.1 million for the 12 months ending January 2016 according to IMS, Aurobindo Pharma said.
Lupin Hits 52-Week low, Down 3% on CLSA Downgrade
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Lupin shares hit fresh 52-week low of Rs 1,624, down 3 percent intraday Friday.
CLSA downgraded the stock to underperform from buy and slashed target price to Rs 1,800 from Rs 2,162 earlier as two out of nine observations are critical.
The brokerage says past instances indicate repeat compliance violations increase the risk of escalation and hence that may lead to delay in approvals.
Even many pending approvals linked to Goa plant may get delayed, it adds. Uncertainty drives 9 percent cut to FY17-18 earnings per share forecast, says CLSA.
Nifty Opens above 7500
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The market started off last day of the week on a positive note, tracking global and oil rally.
The 30-share BSE Sensex rose 79.40 points to 24756.77
and the Nifty advanced 21.65 points to 7534.20.
Hindalco Industries, Bharti Airtel, TCS, ONGC, Adani Ports, Idea Cellular, Cairn India and Vedanta gained 1-2 percent while Lupin fell 2 percent on CLSA downgrade. Sun Pharma, HUL, Dr Reddy's Labs and BPCL were other losers.
Asia stocks turn positive for year
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Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent in early trade, entering positive territory for the year for the first time during Asian hours.
That echoed a recovery on Wall Street, where the S&P 500 Index gained 0.66 percent to close at its highest since December 31, led by the materials and energy sectors.
Japanese shares bucked the trend as the dollar's fall against the yen is seen hurting the country's exporters, with the Nikkei dipping 0.4 percent.
Intraday Rupee Gains 13 Paise
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The Indian rupee opened with a gain of 13 paise at 66.62 per dollar on Friday against previous close of 66.75.
"The rupee is expected to appreciate with a strong resistance at 66.50/dollar."
"We expect the USD-INR to trade in a range of 66.50-67.20/dollar today," he said.
The dollar tumbled against major currencies , after the Federal Reserve pared back expectations for interest rate increases.
Indian ADRs: Wipro, Infosys, HDFC Bank gain
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Indian ADRs ended higher on Thursday. In the banking space, ICICI Bank was up 0.07 percent at USD 6.76 and HDFC Bank added 0.11 percent at USD 57.83.
In the IT space, Infosys was up 0.15 percent at USD 18.33 and Wipro rose 0.14 percent at USD 12.16.
In the other sectors, Tata Motors gained 0.09 percent at USD 27.13 and Dr Reddy's Laboratories shed 0.23 percent at USD 46.50.
Thursday, 17 March 2016
BMW May look at local Assembly of Mini Convertible
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German luxury carmaker BMW, which launched its fifth Mini Convertible model in India yesterday, is open to local assembly when it reaches a critical mass in sales.
"We can look at local assembly here, when we reach a critical mass in sales volume. That can happen some years down the line," BMW Group India President Philipp von Sahr told PTI but refused to share more details.
BMW India has an assembly line in Chennai and makes eight models in the country. Sahr was quick to add that the company does not want to make it a mass-brand for the sake of just increasing the volume by diluting the brand proposition of being the most premium small car in the world as well as in India.
SKS Microfinance Up 2% on 6th Securitisation Transaction in FY16
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SKS Microfinance shares gained more than 2 percent intraday Thursday on completion of sixth securitisation transaction in FY16.
"SKS Microfinance completed sixth securitisation transaction during FY16 for a pool value of Rs 214.61 crore," says the micro finance lender in its fling.
With this transaction, total sum of securitisation completed during FY16 (year-to-date) is Rs 1,781.82 crore.
SKS says entire pool has been rated AA (SO) by a leading rating agency, signifying a 'high degree of safety regarding timely servicing of financial obligations', adding such instruments carry a very low credit risk.
At 09:22 hours IST, the scrip of SKS Microfinance was quoting at Rs 529.70, up Rs 6.30, or 1.20 percent on the BSE.
Today's Indian Stock Market Open High
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The market has opened higher on Fed's move.
The Sensex is up 230.07 points or 0.9 percent at 24912.55,
and the Nifty is up 70.40 points or 0.9 percent at 7569.15.
About 616 shares have advanced, 124 shares declined, and 19 shares are unchanged.
Indian ADRs: Tata Motors, Tata Motors, Infosys Up
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Indian ADRs ended higher on Wednesday. In the IT space, Infosys was up 0.43 percent at USD 18.18 and Wipro rose 0.10 percent at USD 12.02.
In the banking space, ICICI Bank added 0.22 percent at USD 6.69 and HDFC Bank gained 1.30 percent at USD 57.72.
In the other sectors, Tata Motors was up 0.58 percent at USD 27.04 and Dr Reddy's Laboratories added 0.80 percent at USD 46.73.
Indian Rupees Update
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The Indian rupee gained past 67 a dollar in early trade Thursday on fall in US dollar post dovish FOMC statement.
It has opened higher by 32 paise at 66.90 per dollar versus 67.22 Wednesday.
"A dovish FOMC statement weakened US dollar against all major currencies. Oil & gold prices saw upward movement."
"We expect the USD-INR to trade in a range of 66.80-67.20/dollar," he added.
Intraday Tips-Asian Stocks Gain on Dovish-Sounding Fed, Dollar on Defensive
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Asian shares gained early on Thursday and the dollar was on the defensive after suffering substantial losses following the US Federal Reserve's move to reduce the number of interest rate hikes planned for this year.
The potential for more money to continue flowing into commodities and equities, rather being lured by higher US interest rates, boosted crude oil and emerging market stocks.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9 percent and Australian stocks added 0.8 percent. Asian equities took cues from Wall Street, where the S&P 500 closed at its highest level this year following the US central bank's dovish messages.
Wednesday, 16 March 2016
Today Indian Market Open Flat
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The market has opened flat on Wednesday.
The Sensex is down 43.78 points or 0.2 percent at 24507.39,
and the Nifty is down 3.55 points at 7457.05.
About 290 shares have advanced, 147 shares declined, and 33 shares are unchanged.
BHEL, Adani Ports, Lupin, L&T and Infosys are top gainers in the Sensex. Among the losers are Bajaj Auto, Dr Reddy's Labs, HDFC, ICICI Bank and Tata Motors.
Asia markets mixed, Nikkei down 0.5%, Kospi up 0.5%
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Asia markets were mixed Wednesday, following a weaker finish on Wall Street overnight as as traders await the US Federal Reserve decision due later in the US and news from the National People's Congress meeting in China.
The US central bank is widely expected to stand pat on policy, but analysts will be closely watching the wording of the Federal Open Market Committee's statement for cues on the direction ahead. That uncertainty is helping to keep markets constrained.
Intraday Rupee Opens Marginally Higher at 67.35 per Dollar
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The Indian rupee opened marginally higher at 67.35 per dollar on Wednesday versus previous close of 67.38.
"Weakness in global equity market will cause weakness in domestic equity market and rupee will depreciate further continuing with yesterday's pain.
A levels of 67.50/dollar will have meaningful support for rupee." "Moreover, ahead of key event fed interest rate decision lined up on Wednesday, we foresee rupee to trade with volatility."
"Trading range for the day will be 66.80-67.50/dollar," he added.
Indian ADRs: Dr Reddy's Lab Down 2%, Tata Motors, HDFC Bank Down
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Indian ADRs ended lower on Tuesday. In the IT space, Infosys shed 0.27 percent at USD 17.75 and Wipro was down 0.08 percent at USD 11.92.
In the banking space, ICICI Bank fell 0.19 percent at USD 6.47 and HDFC Bank was down 0.77 percent at USD 56.42.
In the other sectors, Tata Motors slipped 0.71 percent at USD 26.46 and Dr Reddy's Laboratories declined 2.03 percent at USD 45.93.
Tuesday, 15 March 2016
RBI likely to Cut Rate on Back of Slowing Inflation
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There has been an increase in foreign institutional inflows (FIIs) in the last few weeks, mainly via the exchange-traded funds (ETFs), says Dhananjay Sinha of Emkay Global Financial Services.
ETF is a marketable security that tracks bonds or an index. Speaking to CNBC-TV18, Sinha says there is a possibility of a rate cut by the Reserve Bank on back of falling inflation reflected in the consumer price index (CPI) data.
Sinha continues to be positive on Lupin despite recent US Food and Drug Administration (USFDA) observations on the Goa plant. He is also bullish on Tata Motors .
Sinha says the global commodity prices seem to have bottomed out and the Federal Reserve will get more justification for normalcy, increasing chances of a rate hike.
Stock Market Barish Nifty Trade In Red,Intraday Trading Tips For Today
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Equity benchmarks started off Tuesday on a negative note, tracking tepid Asian cues.
The 30-share BSE Sensex fell 34 points to 24770.28 and the 50-share NSE Nifty declined 17.25 points to 7521.50.
Lupin crashed 6 percent on Goa facility inspection by USFDA. HDFC and Sun Pharma declined over a percent while Infosys, SBI, TCS, L&T, Axis Bank and Maruti Suzuki gained 0.2-0.8 percent.
Intraday Asian Market Update | Asia shares mixed; Nikkei flat, Kospi up 0.2%,
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Asia markets were mixed Tuesday, tracking US equities' performance overnight, with some analysts saying traders are turning more cautious and hesitant after the recent market rally.
The Nikkei 225 was flat in early trade, wavering between positive and negative territories. In South Korea, the Kospi added 0.17 percent.
The Australian S&P/ASX 200 index was lower by 0.49 percent in early trade, weighed by losses in the energy subindex, which fell 1.53 percent, and the financials subindex, which was 0.56 percent lower.
Indian Rupees Open 11 Paise Down | Best Intraday Trading Tips By Experts
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The Indian rupee slipped in the early trade on Tuesday. It has opened lower by 11 paise at 67.22 per dollar versus 67.11 Monday.
"The market will be keenly awaiting the outcome of the crucial FOMC meet starting today. The USD-INR pair continues to gain from recent lows on the back of improvement in risk sentiment with oil and commodity prices moving higher, coupled with overall dollar weakness."
"We expect the pair to continue trading between 66.50-67.50/dollar in the near term, with support expected at lower levels," he added.
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