Monday, 4 April 2016

Rupee Opens Marginally lower at 66.30 per Dollar

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The Indian rupee fell in early trade. The currency opened at 66.30 a dollar, down 5 paise compared to Thursday's closing of 66.25 per dollar. 

 

Last Friday, the first April of every year, the currency markets remain shut. 

 

 Standard Chartered says calendar Q1 tends to favour the rupee, with low current account deficits and higher capital inflows.

Sensex Up over 100 pts

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The market has started off week on a positive note, tracking global cues post US jobs data. 

 

The 30-share BSE Sensex rose 125.18 points to 25394.82 and the 50-share NSE Nifty climbed 38.15 points to 7751.20. 

 

 

Adani Ports, Tata Motors, BHEL, Dr Reddy's Labs, TCS, Tata Power and Idea Cellular were early gainers while ITC lost 2 percent.

Asia Markets rise; ASX up 0.25%, Nikkei up 0.23% and Kospi Flat

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Asia markets were mostly up on Monday morning, following a higher finish in US equities on Friday on the back of encouraging data on US domestic unemployment and manufacturing. 

 

Australia's ASX 200 was up 0.25 percent, while Japan's Nikkei 225 was up 0.23 percent and the Kospi in South Korea was up 0.05 percent. Friday's US nonfarm payrolls added 215,000 jobs in March, beating expectations for 205,000 jobs. 

 

The US unemployment rate was at 5.0 percent, the first month-over-month increase since May 2015.

Indian ADRs: Tata Motors slips, Dr Reddy's Lab, Infosys up

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Indian ADRs ended mixed on Friday. In the IT space, Infosys was up 0.23 percent at USD 19.25 and Wipro added 0.17 percent at USD 12.75. 

 

 In the banking space, ICICI Bank was unchanged at USD 7.16 and HDFC Bank was down 0.10 percent at USD 61.53. 

 

 In the other sectors, Tata Motors slipped 0.33 percent at USD 28.72 and Dr Reddy's Laboratories added 0.39 percent at USD 45.58.

Wall Street off to a solid start in April

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Wall Street extended a seven-week rally on Friday after upbeat US jobs and factory data hinted at stronger corporate earnings without increasing concerns of potential US interest rate hikes. 

 

The Labor Department's report showed solid gains in nonfarm payrolls in March while the unemployment rate rose to 5 percent from an eight-year low of 4.9 percent as more Americans entered the labor force. 

 

 

Along with another report showing the US manufacturing sector resumed growth in March, the employment data suggested the economy is not growing fast enough to increase concerns about inflation.

Thursday, 31 March 2016

Sensex, Nifty open flat

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The market has opened volatile on Thursday ahead of expiry of Nifty March derivative contracts. 

 The Sensex rose 21.70 points to 25360.28 while the Nifty fell 7.55 points to 7727.65.

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.

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.

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.

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.

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.

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.


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."

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.

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.