Money Morning 07 July 2014

Transcription

1 Index Page No. Page No. Corporate News 2 Bulk Deals 5 Macro Economic News 2 Price Shockers 5 Derivative Corner 3 Event Calendar 4 Indian Indices Last Close 1 Day MTD YTD Sensex 25, Nifty 7, CNX Midcap 11, CNX IT 9, (0.5) 3.7 Bankex 15, Auto 16, Metal 13,441 (0.9) FMCG 6, Nifty vs Institutional Movement (` Mn) Provisional Figures for Investments (5000) 7509 (10000) 27-Jun 30-Jun 1-Jul 2-Jul 3-Jul 4-Jul FII (LHS) MF (LHS) Nifty (RHS) Source: NSE Nifty vs India VIX Jun 26-Jun 27-Jun 30-Jun 1-Jul 2-Jul 3-Jul 4-Jul Global Indices 1 Day MTD YTD Shanghai 2,059 (0.3) 0.4 (2.8) Nikkei , (5.3) Straits Times 3, Hang Seng 23,546 (0.2) DJIA 17, S&P 500 1, FTSE 6, Dollar Index Live Markets As on 08:15 hours IST Hang Nikkei SGX Nifty Seng Current Quote 2,056 15,430 7,791 23,484 (0.1%) (0.0%) 0.0% (0.3%) Volumes Moving Average (Rs bn) 1 Day 5 Day 30 Day BSE CASH NSE CASH NSE F&O Institutional Activities (Net) 1 Day MTD YTD FII (Rs bn) MF (Rs bn) (8.5) (26.6) (104.2) Bond Market 1 Day 1M 1 Yr 10Yr Yield (G-Sec) Currency Market Last Close Shanghai Last Close Spot market Historical Data (%) 1day MTD YTD INR/USD INR/EURO INR/GBP (0.1) 0.2 (0.3) Nifty Spot (LHS) INDIA VIX (RHS) Commodities Update Source: NSE Unit Close 1 Day MTD YTD Crude Oil(NYME $/Bbl 104 (0.0) (1.3) 5.7 Gold (OTC) $/Oz 1,316 (0.3) (0.8) 9.2 Copper (LME) $/MT 7,161 (0.3) 1.7 (2.9) Aluminum (LME) $/MT 1,893 (0.7) Sugar (LIFFE) $/MT 466 (0.8) (1.3) 3.8 Zinc (LME) $/MT 2,237 (0.1) Baltic Dry Index (60.8) Source: Bloomberg Page No: 1

2 Corporate News/Results Corner Tata power sells 5% stake in KPC mines; it has also signed an agreement to sell its entire 30% equity stake in the power infrastructure companies associated with KPC. Positive in short to medium term. Tata Power has said it will sell its 5% stake in PT Kaltim Prima Coal for ~$ 250mn. Post stake sale, Tata Power's stake in PT Kaltim Prima Coal (KPC) will be 25%.The company will sell its stake to Indonesian coal firm Bakrie Group entity. The company has also signed an option agreement to sell its entire 30% equity stake in the power infrastructure companies associated with KPC. The deal values entire 30% stake at ~$1.5bn and the deal will help the company get additional cash as well as to reduce its consolidated debt. We believe this announcement to be positive for Tata Power in short to medium term. Macro-Economic and Other News India to become third largest economy by 2030: PwC India is set to become the third largest economy in the world by 2030, according to PricewaterhouseCoopers (PwC). The rapid rise of the Indian economy with its young workforce would push it up from being the 10th largest economy in 2013 to the third largest by 2030, pushing the UK back into sixth place. China, the world s second largest economy, is expected to close the gap with America by 2030, while Mexico is predicted to be the 10th largest economy by 2030, above Canada and Italy, both G7 nations. International News Global economic recovery could be 'less robust than expected': IMF IMF chief Christine Lagarde has hinted that the International Monetary Fund may be preparing to cut its global growth forecasts as she warned that a pick-up in economic activity could prove less robust than expected amid depressed levels of investment. The fund suggested that efforts from central banks to accelerate a recovery in the global economy may now be finding their limit and urged governments to inject a booster shot by increasing investment in areas such as infrastructure, education and health. This month the IMF will publish its latest forecasts for growth, having predicted in April that the global economy will expand by 3.6% this year and 3.9% in Source: Economic Times, Business Line, Business Standard, Times of India, DNA Money, Mint, Financial Express, Bloomberg, RTT News Page No: 2

3 < Daily Price (%) < Money Morning Nifty Grid in Price Short Covering 2 POWERGRID HDFCBANK RELIANCE Long Built Up 1 DLF ICICIBANK ASIANPAINT HDFC INFY GAIL Profit Booking / long Unwinding 0 (1) (2) TATAMOTORS SUNPHARMA BHEL CIPLA TCS MARUTI DRREDDY HINDUNILVR BHARTIARTL HCLTECH M&M COALINDIA AMBUJACEM LT NMDC GRASIM INDUSINDBK HINDALCO ACC ITC LUPIN BAJAJ-AUTO AXISBANK BANKBARODA BPCL NTPC CAIRN IDFC TATAPOWER TECHM RELINFRA SSLT HEROMOTOCO TATASTEEL MCDOWELL-N PNB ULTRACEMCO JINDALSTEL SBIN ONGC KOTAKBANK < > Daily in Open Interest* (Futures Current month) Short Built Up Note: Summation of three series of future Page No: 3

4 Event Calendar Economy Monday 07 Jun Tuesday 08 Jul Wednesday 09 Jul Thursday 10 Jul Friday 11 Jul Domestic Local Car Sales Jun Industrial Production (Prior ) YoY May (Prior 3.40%) Global China: PPI YoY Jun (Exp %, Prior -1.40%) CPI YoY Jun (Exp. 2.50%, Prior 2.50%) Russia: CPI MoM Jun (Exp. 0.50%, Prior 0.90%) CPI YoY Jun (Exp. 7.70%, Prior 7.60%) UK: Industrial Production MoM May (Exp. 0.20%, Prior 0.40%) Industrial Production YoY May (Exp. 3.10%, Prior 3.00%) US: MBA Mortgage Applications 04 Jul (Prior -0.20%) Japan: Machine Tool Orders YoY Jun P (Prior 24.10%) US: Initial Jobless Claims 05- Jul (Prior 315K) Continuing Claims 28- Jun (Prior 2579K) Japan: PPI MoM Jun (Exp. 0.10%, Prior 0.30%) PPI YoY Jun (Exp. 4.50%, Prior 4.40%) Consumer Confidence Index Jun (Exp. 40.5, Prior 39.3) Germany: Wholesale Price Index MoM Jun (Prior -0.10%) Wholesale Price Index YoY Jun (Prior -0.90%) S ource: Bloomberg Page No: 4

5 Bulk Deal Company Acquirer Qty Price Seller Qty Price South Indian Bank The Pabrai Investment Fund Iv Lp Multiples Private Equity Fii I Vinati Organics-$ Suchir Chemicals Pvt Ltd Vinod Saraf Texmaco Infra & Holdg Ltd Altius Global Finance Private Limited N A N.A. = Not Available Source: BSE & NSE Price Shockers Gainers Company Close price (`) Price (`) Losers Price (%) Company Close price (`) Price (`) Price (%) Prestige Estates Bajaj Holdings 1,300.8 (41.4) (3.1) BAJFINANCE 2, ACC 1,442.0 (39.6) (2.7) CESC Oberoi Realty (6.5) (2.5) Videocon Inds Wockhardt (13.9) (2.2) Jain Irrigation Shree Cement 7,276.0 (156.9) (2.1) CRISIL 1, Indian Hotels (2.3) (2.1) Tata Comm Federal Bank (2.6) (2.0) Petronet LNG Cummins India (12.8) (1.9) Motherson Sumi SSLT (5.4) (1.7) Colgate Palmolive 1, ABB India Ltd. 1,119.8 (19.5) (1.7) Glaxosmithkl Cons 4, Bharti Infratel (4.3) (1.6) Central Bank Gujarat Mnrl (2.7) (1.6) Apollo Hosp 1, Wipro (8.1) (1.5) Berger Paints TTK Prestige 3,815.0 (55.6) (1.4) UPL Jindal Steel (4.8) (1.4) Source: BSE Standalone Result Page No: 5

6 Research Team Vivek Mahajan Hemant Thukral Head of Research Head Derivatives Desk Fundamental Team Sunny Agrawal FMCG/Cement/Mid Caps Shreyans Mehta Construction/Real Estate Pradeep Parkar Database Analyst Quantitative Team Sudeep Shah Sr.Technical Analyst Advisory Support Suresh Gardas Advisory Desk Mohan Jaiswal Executive Research Support ABML research is also accessible in Bloomberg at ABMR Page No: 6

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