Market Wrap. Market Review. Economy & Industry News. May 3, 2017

Transcription

1 Market Wrap MARKETS AT GLANCE Sensex NIFTY BSE Index BSE Index BSE Midcap BSE Smallcap NIFTY NEXT NIFTY BSE SECTORAL INDICES FMCG HEALTHCARE IT AUTO BANKEX CAPITAL GOODS CONSUMER DURABLES METAL OIL & GAS POWER REALTY TECK GLOBAL INDICES. Shanghai Composite Nikkei (Japan) Hang Seng DAX 5:00 PM FTSE 100 5:00 PM CAC 40 5:00 PM Advance / Decline BSE NSE Advance Decline Unchanged (Source: BSE, NSE) Market Review The benchmark indices closed flat tracking mixed trend seen in Asian and European markets as investors pondered over the chances of another rise in interest rates next month ahead of the Federal Reserve's policy outcome due later in the day. As per Reuters, the Fed is widely expected to stand pat on interest rates, but may drop hints on the possibility of a rate hike in June. Sensex closed at 29,895 down 26 points, while Nifty50 settled at 9,312 down 2 points. Among BSE sectoral indices, realty index was the star-performer and was up 1.54 per cent, followed by IT 1.4 per cent, TECk 0.94 per cent and power 0.29 per cent. On the other hand, healthcare index was down 0.98 per cent, oil & gas 0.67 per cent, metal 0.5 per cent and capital goods 0.49 per cent. Top five Sensex gainers were Power Grid (+2.31%), TCS (+1.98%), Infosys (+1.59%), Coal India (+1.49%) and HUL (+0.71%), while the major losers were Lupin (-3.09%), HDFC (-1.37%), ICICI Bank (-1.16%), Tata Motors (-1.11%) and Tata Steel (-1.03%). Economy & Industry News GDP to grow 7.4% in FY18; GST, bankruptcy law big positives: ADB-The Indian economy will grow 7.4 per cent this fiscal and 7.6 per cent in the next as the bankruptcy and GST laws will help create a better business friendly environment, the Asian Development Bank (ADB) said. RBI to hold key rate next month; cut 25 bps in August: BofAML- The Reserve Bank is expected to hold the key rate at its monetary policy review next month but may opt for a 25 bps cut in August, says a Bank of America Merrill Lynch (BofAML) report. Govt to launch new IIP series on May 9, With an aim to map economic activities more accurately and ensure compatibility with growth numbers, the government will launch the new Index of Industrial Production (IIP) series with a new base year of on May 9, 2017, which will capture industrial activities on monthly basis. At present, the IIP has the base year of which was revised in India need to focus more on manufacturing sector as it creates more jobs: Panagariya- NITI Aayog Vice Chairman Arvind Panagariya has said that India needs to work simultaneously on both manufacturing sector leg and services sector leg, but more emphasis should be given to manufacturing sector as it creates jobs in large numbers.

2 TOP 5 GAINERS IN NIFTY INFRATEL POWERGRID ULTRACEMCO 4, TCS 2, COALINDIA TOP 5 LOSERS IN NIFTY LUPIN 1, AUROPHARMA TATAPOWER HINDALCO ZEEL TOP 5 GAINERS AT BSE Group A INTELLECT SREINFRA RAYMOND GODREJPROP PTC TOP 5 LOSERS AT BSE Group A BIOCON ADANIPOWER SUNTV AMTEKAUTO IPCALAB DEBT & FOREX MARKET Company Closing 7.72% GS Call Rates 3.50% % *INR / $ *INR / Euro *INR / 100YEN *INR / Pound Sterling * RBI Reference Rate SENSEX INTRADAY CHART Corporate News Global News Bajaj Auto reported a marginal 1 per cent increase in motorcycle sales at 2,93,932 units in April this year. Dewan Housing Finance Ltd reported 31 per cent rise in net profit to Rs 248 crore for the fourth quarter ended March on higher loan disbursements. The mortgage lender s net profit was Rs 190 crore in the January-March period of the previous financial year, However, the profit during the fourth quarter of soared to Rs 2,218 crore taking into account one time exceptional gain of Rs 1, crore on stake sale in its insurance arm DHFL Pramerica Life Insurance to its wholly owned subsidiary DHFL Investments Ltd. Alembic Pharmaceuticals, on consolidated basis, has reported marginal rise of 2.43% in its net profit after tax, share of profit/loss of associates & joint ventures and minority interest at Rs crore for the quarter ended March 31, 2017 as compared to Rs crore for the corresponding quarter in the FY16. Total income from operations of the company increased by 18.32% at Rs crore for quarter under review as compared to Rs crore for the same quarter ended previous year. JM Financial, on consolidated basis, the company has reported a rise of 32.63% in its net profit after tax, share of minority interest and share in profit of associates at Rs crore for the quarter ended March 31, 2017 as compared to Rs crore for the corresponding quarter in the FY16. Total income from operations of the company increased by 56.15% at Rs crore for quarter under review as compared to Rs crore for the same quarter ended previous year. Subex has bagged a new 5-year, multi-million dollar framework contract with BT, following on from its existing contract with the communications provider. Godrej Properties, part of Godrej group, on Wednesday said that it has sold over 1,000 apartments across three new project launches - Godrej Origins at The Trees in Mumbai, The Suites at Godrej Golf Links in Greater Noida, and Godrej 24 at Hinjawadi, Pune - since March Eurozone Economy Grows 0.5% In Q1: The Eurozone GDP grew 0.5% qoq in Q1 2017, the same pace as in the previous period and matching consensus, a flash estimate showed. Among countries for which data is available, GDP growth picked up in Spain, Austria, Belgium and Latvia but eased in France and Lithuania. Source: Business Line, Business Standard, Economic Times, Financial Express, Capital Market, AceEquity, tradingeconomics.com (Source: BSE)

3 Forthcoming Board Meetings Company Name Meeting Date Purpose Astec LifeSciences Limited 4-May-17 Results/Dividend Bank of Maharashtra 4-May-17 Results/Dividend BASF India Limited 4-May-17 Results/Dividend Cera Sanitaryware Limited 4-May-17 Results/Others Emami Limited 4-May-17 Results/Dividend Exide Industries Limited 4-May-17 Results/Dividend Godrej Properties Limited 4-May-17 Results/Others Greaves Cotton Limited 4-May-17 Results/Dividend Hindustan Construction Company Limited 4-May-17 Results HDFC 4-May-17 Results/Dividend IIFL Holdings Limited 4-May-17 Results/Others L&T Finance Holdings Limited 4-May-17 Results/Dividend Larsen & Toubro Infotech Limited 4-May-17 Results/Dividend MRF Limited 4-May-17 Results/Dividend Oberoi Realty Limited 4-May-17 Results/Dividend R Systems International Limited 4-May-17 Board Meeting Postponed Shanthi Gears Limited 4-May-17 Results Tata Communications Limited 4-May-17 Results/Dividend Wockhardt Limited 4-May-17 Results/Dividend Apcotex Industries Limited 5-May-17 Results Apollo Tyres Limited 5-May-17 Results/Dividend Atul Limited 5-May-17 Results/Dividend Blue Blends (I) Limited 5-May-17 Others Blue Dart Express Limited 5-May-17 Results/Dividend BSE Limited 5-May-17 Results/Dividend Dalmia Bharat Sugar and Industries 5-May-17 Results/Dividend Eicher Motors Limited 5-May-17 Results/Dividend Equitas Holdings Limited 5-May-17 Results Firstsource Solutions Limited 5-May-17 Results GNA Axles Limited 5-May-17 Results Gokul Agro Resources Limited 5-May-17 Results Indian Bank 5-May-17 Raising of Funds Monsanto India Limited 5-May-17 Results/Dividend NIIT Technologies Limited 5-May-17 Results/Dividend Orient Cement Limited 5-May-17 Board meeting Rescheduled P&G Hygiene and Health Care 5-May-17 Results/Dividend Rain Industries Limited 5-May-17 Results Sanofi India Limited 5-May-17 Results Shankara Building Products Limited 5-May-17 Results/Dividend Shoppers Stop Limited 5-May-17 Results/Dividend Sun Pharma Advanced Research Company 5-May-17 Results The Great Eastern Shipping Company 5-May-17 Results/Dividend Transformers And Rectifiers (India) 5-May-17 Results Universal Cables Limited 5-May-17 Results (Source: NSE)

4 Forthcoming Corporate Action Company Name Ex-Date Purpose Indiabulls Housing Finance Limited 4-May-17 Interim Dividend Rs 9/- Per Share Beardsell Limited 4-May-17 Bonus 1:5/Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share Vesuvius India Limited 4-May-17 Dividend - Rs 6.50 Per Share Kewal Kiran Clothing Limited 5-May-17 Dividend - Rs 1.50/- Per Share Hexaware Technologies Limited 5-May-17 Interim Dividend Re 1/- Per Share Hatsun Agro Product Limited 5-May-17 Interim Dividend Tata Consultancy Services Limited 5-May-17 Buyback (Source: NSE) Key Global Economic Indicators Date Country Event Actual Forecast Previous 1 May India Infrastructure Output YoY MAR 5% 1% Personal Income - M/M change 0.2 % 0.3 % 0.3 % PMI Manufacturing Index ISM Mfg Index Level May China Caixin Manufacturing PMI APR India Nikkei Manufacturing PMI APR Euro Zone Unemployment Rate MAR 9.5% 9.5% Total Vehicle Sales 16.9 M 17.2 M 16.6 M FOMC Meeting Begins 3 May Germany Unemployment Rate APR 5.8% 5.8% Euro Zone GDP Growth Rate YoY Flash Q1 1.7% 1.8% ADP employment 170, ,000 PMI Services Index ISM Non-Mfg Index FOMC Meeting Announcement 4 May India Nikkei Services PMI APR 51.5 International Trade $-44.5 B $-43.6 B Jobless Claims 246 K 257 K Nonfarm productivity - Q/Q 0.0% 1.3% 5 May Nonfarm Payrolls - M/M change 185,000 98,000 Unemployment Rate Level 4.6 % 4.5 % Janet Yellen Speaks (Source: Bloomberg,

5 Research Team Tel: (011) / Website: Disclosure: Globe Capital Market Limited ("GCML") is a Stock Broker registered with BSE, NSE, E and MSEI in all the major segments viz. Capital, F & O and CDS segments. GCML is also a Depository Participant and registered with both the Depositories viz. CDSL and NSDL. Further, GCML is a SEBI registered Portfolio Manager. GCML includes subsidiaries, group and associate companies, promoters, directors, employees and affiliates. Globe Commodities Limited, Globe Derivatives and Securities Limited & Globe Fincap Limited are subsidiaries of GCML. Rolex Finvest Private Limited, A to Z Consultants Private Limited, A to Z Venture Capital Limited, M. Agarwal Stock Brokers Private Limited, A M Share Brokers Private Limited, Shri Adinath Advertising Company Pvt. Ltd., Orient Landbase Private Limited, Bolt Synthetic Private Limited, Price ponder Private Limited and Lakshya Impex Private Limited are associates of GCML. Globe Comex International DMCC is step down subsidiary of GCML. This report has been prepared by GCML and published in accordance with the provisions of Regulation 19 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, for use by the recipient as information only and is not for general circulation or public distribution. This report is not to be altered, transmitted, reproduced, copied, redistributed, uploaded, published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from GCML. The projections and the forecasts described in this report are based on estimates and assumptions and are inherently subject to significant uncertainties and contingencies. Projections and forecasts are necessarily speculative in nature, and it can be expected that one or more of the estimates on which the projections are forecasts were based may not materialize or may vary significantly from actual results and such variations will likely increase over the period of time. This report should not be construed as an offer to sell or the solicitation of an offer to buy, purchase or subscribe to any securities, and neither this report nor anything contained therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. It does not constitute a personal recommendation or take into account the particular investment objective, financial situation or needs of any individual in particular. The research analysts of GCML have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, The recipients of this report must make their own investment decisions, based on their own investment objectives, financial situation or needs and other factors. The recipients should consider and independently evaluate whether it is suitable for its/ his/ her/their particular circumstances and if necessary, seek professional / financial advice as there is substantial risk of loss. GCML does not take any responsibility thereof. Any such recipient shall be responsible for conducting his/her/its/their own investigation and analysis of the information contained or referred to in this report and of evaluating the merits and risks involved in securities forming the subject matter of this report. The price and value of the investment referred to in this report and income from them may go up as well as down, and investors may realize profit/loss on their investments. Past performance is not a guide for future performance. Actual results may differ materially from those set forth in the projection. This report has been prepared by GCML based on the information available in the public domain and other public sources believed to be reliable. Though utmost care has been taken to ensure its accuracy and completeness, no representation or warranty, express or implied is made by GCML that such information is accurate or complete and/or is independently verified. The contents of this report represent the assumptions and projections of GCML and GCML does not guarantee the accuracy or reliability of any projection, assurances or advice made herein. Nothing in this report constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients' specific circumstances. Since GCML or its associates are engaged in various financial activities, they might have financial interest or beneficial ownership in various companies including subject company/companies mentioned in the report. GCML or its associates have not received any compensation for investment banking or merchant banking from the subject company in the past 12 months. GCML or its associates might have received any compensation including brokerage services and for products or services other than investment banking or merchant banking from the subject company in the past 12 months. It is confirmed that GCML or research analyst or its associates have not managed or co-managed public offering of securities for the subject company in the past 12 months. Research analyst or GCML or its relatives'/associates' have no material conflict of interest at the time of publication of this report. Neither research analyst nor GCML are engaged in market making activity for the subject company. It is confirmed that research analysts do not serve as an officer, director or employee of the subject company. It is also confirmed that research analyst have not received any compensation from the subject company in the past 12 months. No material disciplinary action has been taken on GCML by any regulatory authority impacting Equity Research Analysis activities. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. GCML reserves the right to make modifications and alternations to this statement, as may be required, from time to time. Research analyst or GCML or its relatives'/associates' do not have actual/beneficial ownership of 1% or more in securities of the subject company, at the end of the month immediately preceding the date of publication of the document.