Monday, 19 December 2016

Hold NMDC; target of Rs 125: ICICI Direct

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ICICI Direct's research report on NMDC NMDC has a large reserve base with high grade deposits and significant mine life. As on April 1, 2016, as per UNFC, NMDC’s total iron ore reserve and resource base is 2299.2 MT (average Fe grade of 64.33%). At FY16 production run rate, the company has a mine life of 77 years (reserves: production: 77). A higher mine life coupled with superior quality deposit provide strong earnings visibility. Outlook NMDC reported healthy performance in Q2FY17 on account of healthy sales volumes (higher by 24.6% YoY and 3.8% QoQ). We expect sales volume to grow at a CAGR of 14.1% during FY16-FY18E. Going forward we modelled sales volume of 34 MT for FY17E and 37.5 MT for FY18E. 

We value the stock at 6.5x FY18E EV/EBITDA and arrive at a target price of Rs 125. We have a HOLD recommendation on NMDC.


Expect 75% of old notes to be replaced in value by Jan: SBI arm

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Roughly 75 percent of the currency that was removed out of the system is expected to be pumped back into the system in new notes by January 2017, says a report by the Economic Research Department, State Bank of India (SBI). Soumya Kanti Ghosh, Chief Economic Adviser & GM, Economic Research Department, SBI in the report said that their results indicate that 50 percent of the total value of extinguished notes can be supplied by this month end and 75 percent by the end of next month, given that currency printing presses are working overtime. He added that by the end of February, about 78-88 percent of the currency could be back in the system under the best-case scenario in terms of an optimal currency distribution (more small denomination notes). 

“Interestingly, this number can go up to 98 percent if we disregard the currency composition,” said Ghosh. The research suggested that the government and RBI may look carefully at the cumulative withdrawal (a proxy for cash requirement) to cumulative deposits ratio across states and wherever it may be low could reorient the currency supply in such states. It said that states like Uttar Pradesh, Madhya Pradesh, Maharashtra, Andhra Pradesh, West Bengal, Punjab, Haryana, Bihar and Gujarat which are major agriculture-oriented, cash dependent may face more issues during this cash crunch period. 

Furthermore, it said that taking the loan portfolio as a proxy for cash requirement, the excess cash comes out to be around Rs 69,500 crore in the services sector which can be shifted to electronic mode of payment, thus taking down the cash requirement significantly. “With at least a 7 percent jump in small denomination currency share in overall currency post demonetisation it would enable use of money more as a medium of exchange and thereby get accounted rather than as a store of value,”

Aban Offshore up 3% on acquisition of 49% stake in Aban Drilling

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Shares of Aban Offshore rose 3.6 percent intraday Monday on acquisition of 49 percent stake in Aban Drilling Services. Aban Drilling Services is a newly incorporated company with a paid-up capital of Rs 50000 and has not commence commercial operations. With this acquisition, the company will explore opportunity in deep water drilling. One of the promoter of the company is a promoter of Aban Drilling, which is holding 4800 equity shares of the company. The said acquisition will get completed on of before December 31, 2016. At 09:52 hrs Aban Offshore was quoting at Rs 246.10, up Rs 7.30, or 3.06 percent on the BSE.

Rupee is expected to appreciate: Angel Broking

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INDIAN RUPEE (USDINR) The Indian Rupee, in the last week, depreciated by 0.58 percent ; all thanks to strength in the US Dollar which hit its highest level in nearly 14 years post FOMC event. However, the USDINR did not weaken as sharply as expected owing to RBI intervention via state - owned banks . Domestic markets i.e. Sensex and Nifty traded in red mostly in the last week as rate hike in the US prompted the foreign investors to park their funds in dollar denominated assets instead. For the month of December 2016, FII out flows in equities totaled at Rs. 1142.02 crores ($167.14 million) as on 17 th Dec’16. Year to date basis, net capital in flows in equities stood at Rs. 27600.45 crores ($4204.67 million) as on 17 th Dec’16. 

OUTLOOK The Indian rupee is expected to appreciate in today’s trading session as recent weakness in the currency will prompt the exporters, banks and traders to book profits. Moreover, the geopolitical tensions between China and US over a drone will keep the American currency weak in turn boosting the demand for the Indian Rupee. 


Laurus Labs shares debut with 14% premium at Rs 489.90

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Shares of Laurus Labs , the Hyderabad-based healthcare company, started off day with premium of 14.5 percent at Rs 489.90 against issue price of Rs 428 on the National Stock Exchange. 

The stock touched a high of Rs 498 (up 16.35 percent over issue price) and low of Rs 475 (up 11 percent) in early trade. The pharma company has raised Rs 1,332-crore through initial public offering that was opened during December 6-8, 2016. 

The issue was oversubscribed 4.57 times on the huge support from qualified institutional buyers (QIBs). 

The issue offered over 2.41 crore shares under offer for sale route and fresh issue worth up to Rs 300 crore. 

Laurus Labs will utilise fresh issue proceeds for pre-payment of loans and general corporate purposes.


Buy, sell, hold: 8 stocks that analysts are watching out

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Here are five stocks that brokerage firms are watching out:  

Motherson Sumi With maintaining buy rating on Motherson Sumi with a target price of Rs 356, UBS says it is a multi-year story and expects 24 percent EPS CAGR over FY16-19 period. The brokerage house sees margin improvement at Samvardhana Motherson Peguform and expects international business growth to remain robust. The company has a solid track record of generating value by turning around distressed assets. UBS says Samvardhana Motherson Reflectec continues to gain share in the US market and India business will grow faster than domestic car production. 

Jammu & Kashmir Bank CLSA has upgraded the stock to buy and raised target price to Rs 77 from Rs 65 earlier on a reasonable valuations but slashed earnings growth estimates. It says recovery of the J&K state will be key for better operational efficiency and remains conversative on management's indication of growth from next year. Bank's CASA franchise remains strong and contributed 45 percent of deposits (which grew by 17 percent YoY), it says, adding demonetisation could further boost profit. 

Pharma stocks Bank of America Merrill Lynch says US generic pricing environment further muddled by litigations. According to the brokerage house, greater scrutiny could lower the occurrence of opportunistic price hikes. It says 1 percent increase in price erosion in US leads to 1.5-4 percent impact on EPS. It prefers Lupin & Biocon in Indian pharma space. Lupin is only large cap company with no pending regulatory issues. BoAML prefers Biocon as it's a strong proxy to the biosimilar opportunity and Biocon is likely to be largely unaffected by generic pricing concerns. 

Oil marketing companies Citi says fuel price hike should lay to rest investor concerns. It has maintained buy call on all 3 oil marketing companies with BPCL as preferred pick. It feels downside should be limited given non-discretionary nature of fuel purchases. According to the brokerage house, worst-case EPS impact for BPCL/HPCL/IOC is likely to be 8/13/7 percent.


F&O cues: Nifty 8200 Put sheds 4.5 lakh shares in Open Interest

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F&O cues:


Nifty 8500 Call added 4.5 lakh shares in Open Interest


Nifty 8400 Call shed 7.3 lakh shares in Open Interest 

Nifty 8200 Put shed 4.5 lakh shares in Open Interest


Nifty 7900 Put added 3.4 lakh shares in Open Interest


FIIs in F&O on December 16 (Provisional data from NSE)


FIIs net sell Rs 504 crore in Index Future


FIIs net buy Rs 43 crore in Index Options


FIIs net sell Rs 149 crore in Stock Future

Asia stocks find relief as China set to return seized US drone

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Asian shares steadied in early trade on Monday after China agreed to return a drone it had seized, easing worries about rising diplomatic tensions between the world's two biggest economic powers. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent after falling to its lowest level in three weeks on Friday. Japan's Nikkei dipped 0.2 percent from one-year high.

Financial markets briefly turned "risk-off" in late trade on Friday following news that a Chinese Navy warship had seized a underwater drone in international waters in the South China Sea. The Dow Jones industrial average ended down 0.04 percent to 19,843.41 on Friday, while the S&P 500 lost 0.18 percent to 2,258.07. The furor appears to have been defused for now after the two countries said on Saturday China will return the drone. "I think the markets' trend will continue. Share prices will edge higher and so will bond yields. The dollar will remain strong. One key question is whether the Dow Jones will hit the 20,000 mark," said Koichi Yoshikawa, executive director of financial markets at Standard Chartered Bank in Tokyo.

Expectations that President-elect Donald Trump will boost fiscal spending, growth and inflation have prompted investors to bet on a faster pace of rate hikes, boosting bond yields sharply. The 10-year Treasuries yield stood at 2.579 percent in Asia on Monday, near its two-year high of 2.641 percent touched on Thursday. As higher yields shore up the dollar, the dollar's index against a trade-weighted basket of six major currencies jumped to a 14-year high of 103.56 last week. It last stood at 102.71. The euro traded at USD 1.0451,


Saturday, 17 December 2016

R&B Denims: Temporary shutdown of factory production

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R&B Denims Ltd has informed BSE that the due to very grim demand in the present market condition, Sale of Company's production has considerably gone down, resulting into heavy stock of finished goods.In the best financial interest, the management of the Company has taken the decision to stop production and go in for temporary shutdown of its plant intermittently till such time the market condition improves.

M&M: Intimation of a new subsidiary

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Mahindra & Mahindra Ltd has informed BSE that Mahindra Intertrade Limited ("MIL"), a wholly owned subsidiary of Mahindra Vehicle Manufacturers Limited ("MVML") which in turn is a wholly owned subsidiary of the Company, has on December 16, 2016, incorporated a Joint Venture Company named Mahindra MSTC Recycling Private Limited ("Mahindra MSTC"); MSTC Ltd., a Government of India enterprise being the Joint Venturer. Mahindra MSTC has become a 'subsidiary' of MIL and in turn of MVML and of the Company with effect from December 16, 2016.Source : BSE

F&O cues: Nifty 8300 Call adds 5.1 lakh shares in Open Interest

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F&O cues:

Nifty 8300 Call added 5.1 lakh shares in Open Interest (OI) on December 15


Nifty 8400 Call added 3.8 lakh shares in OI


Nifty 8500 Call added 2.7 lakh shares in OI


Nifty 8600 Call added 3.5 lakh shares in OI


Nifty 8100 Put shed 2.04 lakh shares in OI


FIIs in F&O on December 15 (Provisional data from NSE)

FIIs net sell Rs 1,520 crore in Index Futures


FIIs net buy Rs 910 crore in Index Options


Friday, 16 December 2016

कमोडिटी बाजार: सोने ने गंवाई बढ़त

शेयर #बाजार समाचार और शेयर के उतार चढ़ाव तथा इन्वेस्टमेंट के लिए विसिट करे : http://www.ripplesadvisory.com/nifty-future-.php

सोना इस साल की बढ़त कमोबेश गंवा चुका है। जुलाई तक करीब 30 फीसदी रिटर्न देने वाले सोना अब जनवरी के मुकाबले मुश्किल से 6 फीसदी ऊपर रह गया है। अमेरिका में ट्रंप की जीत और उसके बाद ब्याज दरों में बढ़ोतरी के बाद सोना करीब 12 फीसदी लुढक गया है। कल इसमें भारी गिरावट आई थी। हालांकि आज संभलने की कोशिश कर रहा है। चांदी भी संभलने की कोशिश में है। उधर कच्चे तेल में आज उठापटक है। ग्लोबल मार्केट में तेजी है, जबकि घरेलू बाजार कमजोर है।

घरेलू बाजार की बात करें तो एमसीएक्स पर सोना 0.1 फीसदी की बढ़त के साथ 27045 रुपये के आसपास कारोबार कर रहा है। जबकि चांदी 0.6 फीसदी की बढ़त के साथ 39530 रुपये के आसपास कारोबार रही है। वहीं कच्चा तेल 0.4 फीसदी फिसलकर 3475 रुपये के नीचे आ गया है। जबकि नैचुरल गैस 0.8 फीसदी की कमजोरी के साथ 230 रुपये के करीब आ गया है।

एग्री कमोडिटीज की बात करें तो एनसीडीईएक्स पर कपास का अप्रैल वायदा 0.3 फीसदी चढ़कर 930 रुपये के करीब दिख रहा है। जबकि जीरे का जनवरी वायदा 0.5 फीसदी गिरकर 17645 रुपये के आसपास नजर आ रहा है।

कुंवरजी कमोडिटीज की निवेश सलाह

चांदी एमसीएक्स (मार्च वायदा): बेचें - 39700 रुपये, स्टॉपलॉस - 40000 रुपये, लक्ष्य - 39200 रुपये

नैचुरल गैस एमसीएक्स (दिसंबर वायदा): बेचें - 234 रुपये, स्टॉपलॉस - 237 रुपये, लक्ष्य - 229 रुपये

कपास एनसीडीईएक्स (अप्रैल वायदा): खरीदें - 924 रुपये, स्टॉपलॉस - 914 रुपये, लक्ष्य - 940 रुपये

जीरा एनसीडीईएक्स (जनवरी वायदा): खरीदें - 17700 रुपये, स्टॉपलॉस - 17500 रुपये, लक्ष्य - 18000 रुपये

सेंसेक्स 26550 के नीचे !

शेयर #बाजार समाचार और शेयर के उतार चढ़ाव तथा इन्वेस्टमेंट के लिए विसिट करे : http://www.ripplesadvisory.com/nifty-future-.php

एक दिन रुकने के बाद अमेरिका बाजारों में फिर से ट्रम्प रैली शुरू हो गई है। कल के कारोबार में बैंकिंग शेयरों की तेजी से डाओ जोंस 20 हजार के करीब बंद हुआ। उधर आज एशियाई बाजारों की शुरुआत भी मिलीजुली हुई। उधर आज भारतीय बाजारों की शुरुआत मजबूती के साथ हुई है। आज के शुरुआती कारोबार में मिडकैप शेयरों में तेजी देखने को मिल रही है। जबकि बैंक निफ्टी में सुस्ती दिख रही है। फिलहाल सेंसेक्स करीब 20 अंक और निफ्टी सपाट चाल के साथ कारोबार कर रहे है।

शुरुआती कारोबार में ऑटो, मेटल और आईटी शेयरों में अच्छी खरीदारी देखने को मिल रही है। जबकि बैंकिंग शेयरों की पिटाई हो रही है। जिसके चलते बैंक निफ्टी 0.3 फीसदी की कमजोरी के साथ 18340 के स्तर के आसपास दिख रहा है। आज दिग्गज शेयरों के साथ ही छोटे और मझोले शेयरों में भी खरीदारी देखने को मिल रही हैं। जिसके चलते बीएसई का मिडकैप इंडेक्स 0.2 फीसदी और स्मॉलकैप इंडेक्स 0.4 फीसदी बढ़त के साथ कारोबार कर रहा है। वहीं बीएसई के ऑयल एंड गैस इंडेक्स में 0.3 फीसदी की कमजोरी नजर आ रही है।

आज के शुरुआती कारोबार में निफ्टी के ऑटो, मेटल, आईटी और रियल्टी इंडेक्स में अच्छी मजबूती दिख रही है। निफ्टी का ऑटो इंडेक्स 0.7 फीसदी, मेटल इंडेक्स 0.5 फीसदी, आईटी इंडेक्स 0.3 फीसदी और रियल्टी इंडेक्स 0.3 फीसदी की मजबूती के साथ कारोबार कर रहा है। आज के कारोबार में एनर्जी शेयरों में कमजोरी दिख रही है। जबकि निफ्टी का इंफ्रा इंडेक्स 0.1 फीसदी की मजबूती दिखा रहा।

Humsafar Express with surging fares to be launched today

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Equipped with many facilities, the much awaited Humsafar Express with dynamic fares will be launched today from here. Railway Minister Suresh Prabhu will flag off the fully AC-3 service train between Gorakhpur-Anand Vihar from here through video-conferencing. However, passengers have to shell out 1.15 percent more as base fare than the normal Mail/Express AC-3 rate since the train is equipped with coffee/tea/soup vending machine, hot and refrigerated pantry and other facilities in each cabin. 

"Since manufacturing cost of these coaches with modern facilities is higher than the normal AC coaches there has to be special fares for these services, a senior Railway Ministry official said. According to the Humsafar fare structure, 50 percent of the tickets will be made available for passengers on 1.15 percent higher base fare and thereafter 10 percent increase on every 10 percent tickets sold on subsequent bookings. For example, the normal Mail/Express AC-3 base fare is Rs 960 which will become Rs 1104, an increase by 1.15 percent. After 50 percent sale of total tickets, the base fare will go up to Rs 1214, an increase of 10 percent for 10 percent berths then it will again surge by another 10 percent increase for subsequent 10 percent bookings. 

Finally, the highest fare will be Rs 1656, an increase of 1.5 percent from the base fare for the last 10 percent berths. Other additional charges like reservation fee, superfast charges, service tax, will be levied separately. While the passengers have to pay for their meals if booked, separately, the bedroll is inclusive of fare. Prabhu had announced during the presentation of Rail Budget 2016-17 that there will be seven Humsafar Express trains for inter-city overnight journey, with many additional facilities which are otherwise not available in normal AC-3 coaches.

 

Loans against property pose increasing risks

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Moody's Investors Service today said the overall asset profile of property retail loan portfolio of banks is stable although risks are rising in the non-traditional loan against property segment. "Growth in loan against property (LAP) loans has outpaced overall retail credit growth in recent years, but relatively loose underwriting practices and a tightening in credit following India's demonetisation would translate into higher asset quality risk," Moody's V-P and Senior Credit Officer Srikanth Vadlamani said. 

It said it expects the impact on the banks' overall asset quality to be limited by the relatively small size of the LAP portfolio. The US-based agency expects that the withdrawal of 500 and 1,000 rupee notes in early November 2016 may further expose the weaknesses in this segment. "Disruptions in the borrowers' cash flows may trigger delinquencies while tightening underwriting practices will make it more difficult for them to take out new debt," it said. Because LAP loans are typically extended to SMEs and self-employed individuals, a borrower's ability to repay is often based on the lender's assessment of the borrower's income rather than actual reported income, Moody's said. 

Nevertheless, Moody's expects that the stable performance of the much larger home loan segment will mitigate the negative impact, supported also by the country's favourable demographics, growing primary market supplies and an increasingly affordable housing segment. Non-bank finance companies with a higher exposure to the non-traditional end of the market will get impacted more, Vadlamani added. Moody's estimates the LAP segment -- comprising loans to small-and medium-sized enterprises (SMEs) for business purposes with property as collateral -- to have grown at a compounded annual growth rate (CAGR) of 25 per cent between 2012 and 2016, as against 17 per cent for overall retail credit.

Gold futures up Rs 29 on global cues

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Gold prices rose by Rs 29 to Rs 27,050 per 10 grams in futures trade today as speculators created fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in far-month April next year was up Rs 29, or 0.11 percent, to Rs 27,050 per 10 grams in a trade volume of four lots. 

The metal for delivery in February moved up Rs 21, or 0.08 percent, to Rs 27,040 per 10 grams in a turnover of 173 lots. Market analysts said that the rise in precious metal at the global market mainly influenced gold prices at futures trade here. Meanwhile, gold edged up 0.17 percent to USD 1,130.10 an ounce in Singapore today.

Advance tax mop-up rises a tepid 10% as large banks drag

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Banks, led by market leaders State Bank and ICICI Bank , have fared poorly on the advance tax front in the third quarter, tempering growth rate to around 10 per cent from the nation's largest revenue zone. Accordingly, the overall advance tax collection made from the top 43 Mumbai-based corporates has risen only 10 per cent to Rs 27,321 crore from Rs 24,811 crore a year ago. "The overall collection of direct tax from Mumbai-based top 43 corporates has gone up by over 10 per cent for the December quarter, despite below par performance by several important sectors," a senior income tax official PTI. SBI has paid Rs 1,282 crore, down 25 per cent from Rs 1,731 crore in the year-ago period. Similarly, ICICI Bank has paid only Rs 1,200 crore, down a steep 27.3 per cent from Rs 1,650 crore a year ago. 

However, insurance behemoth LIC has seen its payout going up by over 13 per cent to Rs 2,235 crore from Rs 1,977 crore a year ago. HDFC Bank, too, has paid advance tax to the tune of Rs 2,300 crore, up 16.75 per cent from Rs 1,970 crore. Similarly, mortgage lender HDFC has paid Rs 920 crore, up from Rs 810 crore in the year-ago period, a company official has said. Reliance Industries has paid 10 per cent more at Rs 2,600 crore in advance tax in the third quarter of last year. Importantly, software major TCS's payout has fallen marginally to Rs 1,540 crore from Rs 1,600 crore. Private sector lender Yes Bank has seen 44 per cent rise in payout at Rs 610 crore from Rs 424 crore, an official has said. Similarly, foreign lender Citi has paid advance tax to the tune of Rs 710 crore, up 23.48 per cent from Rs 575 crore last year. 

State-owned Central Bank of India's has paid 17.5 per cent lower to Rs 165 crore during the third quarter. However, other state-owned lenders like Bank of Baroda, Union Bank and Bank of India have fared well in the reporting period. 


Wall Street rises, led by banks; Dow brushes against 20,000

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US stocks rose on Thursday, led by gains in bank shares, a day after the Federal Reserve raised interest rates for the second time in nearly a decade. The Fed sees three rate hikes next year instead of the two foreseen in September, partly as a result of the fiscal stimulus expected to hit under President-elect Donald Trump. Trump's spending plans could trigger inflation and bring about higher interest rates, making banks a likely winning sector in the new administration. Art Hogan, chief market strategist at Wunderlich Securities in New York, said the advance in bank shares also reflects a rotation into a sector which had been stagnant during most of the multi-year rally that has seen major indexes hit record highs. 

He added that if Trump's deregulation plans come through, lenders will benefit as they are "one of the most regulated sectors. The one Trump sector you can be sure of is financials," Hogan said. The S&P 500 has risen just under 6 percent since the Nov. 8 election, but its banks component has risen almost 25 percent since. The Dow Jones industrial average rose 59.71 points, or 0.3 percent, to 19,852.24, the S&P 500 gained 8.75 points, or 0.39 percent, to 2,262.03 and the Nasdaq Composite added 20.18 points, or 0.37 percent, to 5,456.86. The Dow came within 50 points of hitting 20,000 for the first time. The strength of the rally in stocks has triggered concern that the market is technically vulnerable, or overbought, while the recent rally in the US dollar, while indicative of a strong economy, has also raised alarms over the negative effect on earnings of companies with overseas exposure. 

"The thought is that earnings will be better and the economy is strong enough to be able to withstand higher interest rates, and that is why we're not seeing a decline in stocks," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "That being said, the stronger dollar and higher interest rates will at some point filter through to earnings. It's just a matter of when and how." Economic data on Thursday showed US consumer prices moderated in November, but the underlying trend continued to point to firming inflation pressures. 

Yahoo fell 6.1 percent to USD38.41 after the technology company disclosed a massive data breach that raised fears Verizon might kill a deal to buy its core internet business. Verizon was up 0.3 percent at USD51.81. About 8.18 billion shares changed hands in US exchanges, above the 7.4 billion daily average over the last 20 sessions. Advancing issues outnumbered declining ones on the NYSE by a 1.30-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favoured advancers. The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 161 new highs and 59 new lows.

Rupee recovers, opens at 67.82 against US dollar

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The Indian rupee has opened higher at 67.82 to the dollar on Friday compared with 67.83 in previous session. Yesterday, it ended at lowest closing level against dollar since December 6, especially after the US Federal Reserve on Wednesday hiked interest rate by 25 basis points to 0.5 percent from 0.75 percent and announced hawkish outlook of three rate hikes in 2017 against two hikes expected in Fed's September policy. 

Bhaskar Panda of HDFC Bank says US Federal Reserve delivered as per market expectations. Hawkish undertone has pushed Dollar index to 14-year high. This will impact USD-INR pair as well, he feels. He expects a range of 67.90-68.30 against the US dollar.


F&O cues: Nifty 8300 Call adds 5.1 lakh shares in Open Interest

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F&O :

Nifty 8300 Call added 5.1 lakh shares in Open Interest (OI) on December 15 

Nifty 8400 Call added 3.8 lakh shares in OI 

Nifty 8500 Call added 2.7 lakh shares in OI 

Nifty 8600 Call added 3.5 lakh shares in OI 

Nifty 8100 Put shed 2.04 lakh shares in OI 

FIIs in F&O on December 15 (Provisional data from NSE) 

FIIs net sell Rs 1,520 crore in Index Futures

FIIs net buy Rs 910 crore in Index Options

Thursday, 15 December 2016

Bajaj Auto launches Dominar 400 priced up to Rs 1.5 lakh

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today launched its latest sports bike Dominar 400 priced up to Rs 1.5 lakh (ex-showroom Delhi) as it looks to challenge segment leader Royal Enfield in the Rs 1-2 lakh category. The Dominar 400, powered by a 373cc engine will be available with ABS and disc brake versions which are priced at Rs 1.5 lakh and Rs 1.36 lakh, respectively. 

"The Dominar is the best and biggest bike ever from our stable and we are entering a price segment of Rs 1-2 lakh which has a leader (Royal Enfield) with 80 percent market share," Bajaj Auto Managing Director Rajiv Bajaj told reporters here. 

Spelling out ambitious targets for the new model, he said, "We are targeting about 20 percent of the segment and if achieve that the Dominar will be a USD 1 billion brand in the next 12-18 months." 

Bajaj further said that the segment, currently dominated by Royal Enfield, is clocking around 65,000 to 75,000 units a month. "In 2017, this will be a million units a year segment." Initially the company is looking at selling around 10,000 units in the domestic market even as it will start exporting the new product to the global markets from February 2017, he added. Eventually, Bajaj said, the company is looking at selling around 2 lakh units of the Dominar a year. 

"We will export to Europe, ASEAN countries like Indonesia, Malaysia and the Philippines besides Latin America," he said. The company today opened the booking for the Dominar 400 online with an amount of Rs 9,000 and deliveries will begin by January.

India needs simple GST structure with lower rates

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NEW DELHI - India should aspire for a simple structure for its proposed Goods and Services Tax (GST) with lower rates, the chief economic adviser at the ministry of finance said, amid deadlock between the central and the state governments over the draft of new law. India faces the risk of missing a self-imposed deadline to launch the GST from April 2017 after a meeting of federal and state officials ended last Sunday without fixing who would administer the tax. Arvind Subramanian, who headed a panel on the proposed tax structure, said on Thursday GST should also include real estate, land sales and electricity as well. 

Nifty below 8200, Sensex in red; Sun Pharma, Tata Motors fall

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11:30 am Market sell-off:                                         The Sensex is down 19.32 points at 26583.52, and the Nifty down 6.35 points at 8176.10. About 1229 shares have advanced, 992 shares declined, and 124 shares are unchanged.                       11:11;3- TCS, M&M, Bajaj Auto, Infosys and Adani Ports are top gainers while Sun Pharma, Tata Motors, ITC, NTPC and Bharti Airtel are losers in the Sensex. 

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 The market is still holding early gains as the Sensex is up 78.61 points or 0.3 percent at 26681.45. The Nifty is up 25.85 points or 0.3 percent at 8208.30. About 1349 shares have advanced, 782 shares declined, and 109 shares are unchanged. 

TCS, M&M, Infosys, Bajaj Auto and SBI are top gainers while Sun Pharma, Tata Motors, Bharti Airtel, NTPC and ITC are losers in the Sensex. 

Gold prices fell sharply by Rs 295 to Rs 27,292 per 10 grams in futures trade today as participants cut their bets amid a weak global trend. Analysts attributed the fall in prices to weak trend in gold overseas where it traded at nearly 10-month low after the US Federal Reserve announced a hike in interest rates, boosting the dollar and reducing appeal of the precious metal. 

Nifty holds 8200 amid consolidation; 
                                                               Mid, Smallcap outperform Equity benchmarks recouped early losses to trade higher with the Nifty holding 8200 level as Federal Reserve acted in line with expectations. Technology and banks stocks helped the market recover while FMCG and select pharma stocks were under pressure.



Asia stocks, bonds struggle as Fed flags more hikes

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Asian shares and currencies struggled on Thursday after the Federal Reserve raised rates for the first time in a year and hinted at the risk of a faster pace of tightening than investors were positioned for. Yields on short-term US debt surged to the highest since 2009, sending the dollar to peaks not seen in almost 14 years.Wall Street suffered its biggest percentage decline since before the November 8 US presidential election, though the loss was slight compared with gains of the last month or so. 

The Fed's rate rise of 25 basis points to 0.5-0.75 percent was well flagged but investors were spooked when the "dot plots" of members' projections showed a median of three hikes next year, up from two previously. 

Some analysts note that the change came even as the Fed's economic projections have hardly been upgraded, suggesting the Fed could accelerate tightening even further if policymakers see firmer evidence of higher growth or inflation. "The US economy is already on a solid expansion but the new administration wants to do large-scale spending. 

That could surely boost inflation and U.S. bond yields," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. Investors had bet heavily on a more dovish message and many positions were quickly unwound. "The fact that the market, including me, was leaning the wrong away exacerbated the move," said Steven Englander, Citi's global head of forex based in New York. Fed fund futures slid to imply an almost 50 percent chance that the Fed will raise rates three times, with two hikes fully priced in already. Yields on two-year Treasury paper jumped 10 basis points to 1.27 percent, the biggest daily increase since early 2015 and the highest level since August 2009. 

EMERGING PRESSURE It also took the premium that US Treasuries pay over German two-year debt to its fattest since 2000. That jump could suck more funds out of emerging markets and will be taken badly by stocks and currencies across Asia. The U.S. dollar was already up across the board, hitting a near 14-year peak against a basket of currencies at 102.100 . The euro skidded 0.9 percent to USD1.0528, while the dollar climbed 1.6 percent on the yen to 117.02. The drop in the yen could cushion Japanese stocks, lifting Japan's Nikkei 0.9 percent. Other Asian markets had less luck, with MSCI's broadest index of Asia-Pacific shares outside Japan dropping 0.7 percent. Some attention would be on the Chinese yuan with the risk that a sharply lower opening fix could add to pressure for a competitive depreciation from other Asian currencies. On Wall Street, the Dow ended Wednesday down 0.6 percent, while the S&P 500 lost 0.81 percent and the Nasdaq 0.5 percent. Stocks have been on a tear in recent weeks on speculation the incoming Trump Administration will pursue tax cuts and increase infrastructure spending. 

The rising dollar slugged oil prices, already smarting from concerns about oversupply. Brent crude futures dropped 3.3 percent on Wednesday to USD53.72 per barrel, while U.S. crude was quoted at USD50.87 per barrel, having slipped 6.7 percent from its near 1 1/2-year peak hit on Monday. Gold dropped to its lowest in more than 10 months around USD1,142.66 an ounce.

Indian ADRs end lower: Infosys, HDFC Bank, Tata Motors slip

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Indian ADRs ended lower on Wednesday. In the IT space, Infosys was down 0.13 percent at USD 14.84 and Wipro declined 0.18 percent at USD 9.44. In the banking space, ICICI Bank fell 0.12 percent at USD 7.73 and HDFC Bank was dipped 1.31 percent at USD 62.33. In the other sectors, Tata Motors was down 0.52 percent at USD 34.08 and Dr Reddy's Laboratories shed 0.56 percent at USD 46.18.


EMs to underperform in near-term; positive on India

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The US Federal Reserve hiked interest rate by 25 basis points on Wednesday. The Fed chair Janet Yellen sounded hawkish while guiding for three rate cuts in coming year. Geoffery Denis, Head of
Global Emerging Markets strategy at UBS, is expecting two hikes next year and not three. 

US economy strengthening in 2017 will have a negative impact on emerging markets (EMs), said Mixo Das of Nomura. 

However, in the near-term, EMs are likely to underperform the developed markets. Nomura continues to be overweight on India among the Asian markets and does not expect much downside from hereon. 

Citi Private Bank, too, believes that near-term risks are significant for EMs. The Indian market is looking attractive at current levels and could give 5-10 percent returns over the next one year, Ken Peng, Asia Pacific strategist at the bank said. 

UBS does not expect a stellar 2017, but believes that EMs can hold up well against developed markets. 

Wednesday, 14 December 2016

Japan manufacturers' mood brightens to one-year high

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A closely watched central bank survey showed big Japanese manufacturers' sentiment improved for the first time in six quarters to hit a one-year high, as falls in the yen and a pick-up in overseas growth brightened Japan's economic prospects. The Bank of Japan "tankan" survey published on Wednesday found companies also maintained their upbeat spending plans, reinforcing market expectations that the central bank will hold off on expanding monetary stimulus in the coming months. Service-sector confidence, however, was unchanged from three months ago as bad weather hurt private consumption, the survey showed, underscoring the fragile and patchy nature of recovery in the world's third largest economy.

The headline index measuring big manufacturers' business sentiment rose to plus 10 from plus 6 three months ago, the tankan survey showed, matching a median market forecast and hitting the highest level since December 2015. Manufacturing sentiment is doing well, reflecting a recovery in global trade," said Hidenobu Tokuda, senior economist a Mizuho Research Institute. "I think the economy will continue to grow due to exports and public works spending. The chance of additional monetary easing has receded. 

The BOJ is likely to keep monetary policy steady and give a more upbeat view of the economy at next week's rate review, reflecting brighter prospects for global trade, sources have told Reuters. Auto and machinery makers' sentiment brightened in the survey, which was taken days after the U.S. election last month, suggesting that sharp yen falls triggered by Donald Trump's election to president built up hopes for higher earnings.

The survey found big firms plan to increase capital expenditure by 5.5 percent for the current fiscal year to March 2017, slightly below projections made three months ago, but still in line with downward revisions that tend to occur at year-end, analysts say. Capital spending held firm. Taken together, this tankan confirmed a gradual economic recovery, which backs up the BOJ's upbeat view," said Takeshi Minami, chief economists at Norinchukin Research Institute. "It should be taken as another factor for the central bank to stand pat on policy for the time being."

IMA requests Government to exempt healthcare services from GST

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The Indian Medical Association (IMA) has urged the Government to exempt healthcare services offered by private hospitals from the Goods and Services Tax (GST), said media reports. 

Commenting on the issue, IMA’s Dr K K Aggarwal told the media, "We welcome the government's decision on enforcing the GST and feel that it will increase transparency and improve efficiency in the country.” 

"However, we feel that the GST exemption of healthcare services offered by governmental institutions should be extended to the private sector as well," he added. 

As per reports, IMA stated that exemption of GST to private sector shall result in several benefits which will include no increase in cost of healthcare being provided by the private sector, affordable healthcare services in India, eradication of any possibility of dis-incentivising future investments in the sector, among others. 

Gold prices firm as dollar dips ahead of Fed rate decision

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BENGALURU - Gold prices edged higher on Wednesday on a weaker dollar and as markets waited for the outcome of the U.S. Federal Reserve's policy meeting later in the day.

Spot gold was up 0.2ercent at $1,160.50 an ounce by 0323 GMT. The metal, which fell nearly 0.4 percent in the previous session, remained above a 10-month low of $1,151.34 an ounce touched on Monday. 


U.S. gold futures were 0.3-percent higher at $1,162.40 per ounce. The dollar index, which measures the greenback against a basket of currencies, was down 0.1 percent at 101. "(The rise in gold prices) is because of the weaker dollar and also the anticipation of what the Fed will decide,
" said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central. 


"The things that will move the markets more would definitely be on how many times the Fed will raise interest rates next year." The Fed is widely expected to increase U.S.
interest rates at this week's Federal Open Market Committee meeting, with investors looking for clues on the central bank's views on further hikes in 2017. 

Higher U.S. rates raise the opportunity cost of holding non-yielding bullion. The outcome of the policy meeting will be announced at 1900 GMT, followed by Chair Janet Yellen's news conference half an hour later. "We expect gold to remain on the defensive and may weaken further until the conclusion of the FOMC meeting," HSBC analyst James Steel wrote in a note. 

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, are down over 9 pct since November. "ETF liquidation shows investors' uninspired gold view.




Tuesday, 13 December 2016

टीसीएस के डायरेक्टर पद से सायरस मिस्त्री की छुट्टी!

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टीसीएस के डायरेक्टर पद से सायरस मिस्त्री की छुट्टी हो गई है। बोर्ड ऑफ डायरेक्टर्स में सायरस मिस्त्री को हटाने पर सहमति बन गई है। सायरस मिस्त्री को टीसीएस के डायरेक्टर पद से हटाने के लिए आज बैठक बुलाई गई थी। इससे पहले 23 अक्टूबर को सायरस मिस्त्री को टीसीएस के चेयरमैन पद से हटाया गया था।


बताना चाहेंगे कि ईजीएम से पहले सायरस मिस्त्री ने कंपनी के शेयरधारकों से समर्थन मांगा था। शेयरधारकों को लिखी चिट्ठी में सायरस मिस्त्री ने कहा कि वे अपनी और टाटा ग्रुप की छवि बचाने के लिए लड़ रहे हैं। सायरस मिस्त्री ने टाटा संस पर निशाना साधते हुए कहा है कि उनकी छवि खराब करने की कोशिश की गई है। सायरस मिस्त्री ने शेयरधारकों से आपसी सहमति से फैसला लेने की अपील की थी।

White metal falls ahead of FOMC meeting

Silver futures fell during afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the precious metal on looming worries over an imminent interest rate hike by the US Federal Reserve in a key meeting that begins later in the day.The US Fed is widely expected to raise interest rates in a two-day meeting on December 13-14, which could boost the US dollar. Precious metal is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding assets.

At the MCX, silver futures for March 2017 contract is trading at Rs 41,538 per kg, down by 0.45 per cent, after opening at Rs 41620, against a previous close of Rs 41724. It touched the intra-day low of Rs 41411.

Nitish Kumar writes to PM for release of pending Rs 6395.19


Bihar Chief Minister Nitish Kumar haswritten a letter to Prime Minister Narendra Modi and urged himto order the release of Rs 6,395.19 crore pending with the Centre in the current fiscal. Kumar in his letter sought the release of Rs 494.34 croreon account of pending projects for the 10th and 11th five year plans and Rs 4,998.77 crore for completion of pending projects of the 12th five year plan. He urged the PM for release of the left out amount of Rs 902.08 crore approved in the 12th five year plan for which a proposal has already been sent to the Centre. 

Kumar said in his letter, which was released to the media last night, that the state government with limited financial resources was not in a position to fund the completion of pending projects of previous plan periods. "In the event of the Centre not making available adequate funds, the pace of projects (roads, electricity etc.) has slowed down and which has telling effects," he said. "It cannot be denied that non-availability of funds on time could result in cost overrun and effect the quality of the projects too,

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