All You Need To Know Going Into Trade On September 13

Asian stocks extended gains and Treasuries held on to declines on bets that economic growth is strong enough to withstand heightened geopolitical tensions.

The dollar held onto gains ahead of U.S. inflation data later this week that could impact the timing of the next Federal Reserve interest-rate hike. Oil rose as OPEC and its allies are discussing an extension of output curbs.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, was little changed at 10,103 as of 7:12 a.m.

Here's a quick look at all that could influence equities on Wednesday.

Global Cues

• U.S. stocks added to records on Tuesday and the dollar held gains while Treasuries fell for a second day as the Trump administration plotted strategy for pushing a tax overhaul.

#BQMarketsNow | U.S. stocks end at fresh record high; treasuries fall for second day.https://t.co/Qb7NMGVStZ pic.twitter.com/XAtFa0BgNH

• Apple Inc. slipped, as did some of its biggest suppliers, after investors were underwhelmed at the unveiling of the company's latest gadgets.
• The pound jumped as U.K. inflation accelerated more than forecast, and oil rose as producers were said to discuss extending output cuts.
• The Stoxx Europe 600 Index rose 0.5 percent, hitting the highest in five weeks

Asian Cues

• The Topix index rose 0.5 percent while Australia's S&P/ASX 200 Index added 0.4 percent and the Kospi index in Seoul was little changed.
• Futures on Hong Kong's Hang Seng Index rose 0.1 percent.

Commodity Cues

• West Texas Intermediate crude rose 0.1 percent to $48.29 a barrel, up for a third day. The Organization of Petroleum Exporting Countries OPEC and its allies are discussing extending by more than three months the oil production cuts that expire in March 2018.
• Gold was at $1,331.13 an ounce.
• ICE Sugar ended lower at 14.54 cents a pound; down 2.02 percent

Shanghai Exchange

• Steel continues two-day winning streak; up 0.82 percent
• Aluminium trades higher; up 0.9 percent
• Zinc trades higher for second day; up 0.3 percent
• Copper trades lower; down 0.54 percent
• Rubber trades higher; up 0.33 percent

Indian ADRs

Earnings To Watch

• AXISCADES Engineering
• Cheviot
• CMI
• Hindustan Motors
• ISMT
• ITI
• Kopran
• Lovable Lingerie
• Minda Corp
• Sandur Manganese
• State Trading Corporation of India
• Suprajit Engg
• Transformers & Rectifiers
• WPIL
• Walchandnagar Industries

Earnings Reaction To Watch

Future Lifestyle Fashions (Q1FY18 YoY)

• Revenue up 28.8 percent to Rs 1032 crore versus Rs 801 crore
• EBITDA up 15.5 percent to Rs 85.5 crore versus Rs 74 crore
• Margin narrowed to 8.3 percent versus 9.2 percent
• Profit up 30.6 percent Rs 23.5 crore versus Rs 18 Crore

Shemaroo (Q1FY18 YoY)

• Revenue up 8 percent to Rs 104 crore versus Rs 96 crore
• EBITDA up 10 percent to Rs 33 crore versus Rs 30 crore
• Margins at 31.7 percent versus 31.3 percent
• Profit up 14 percent to Rs 16 crore versus Rs 14 crore

Asahi Songwon Colours (Q1FY18 YoY)

• Revenue down 5.8 percent at Rs 65 crore versus Rs 69 crore
• EBITDA down 50 percent at Rs 6 crore versus Rs 12 crore
• Margin at 9.4 percent versus 17.6 percent
• Profit down 25 percent at Rs 3 crore versus Rs 4 crore

Jet Air (Q1FY18 YoY)

• Revenue up 9.9 percent at Rs 5649 crore versus Rs 5139 crore
• EBITDAR down 15 percent to Rs 716 crore versus Rs 838 crore
• EBITDAR margin contracted to 13 percent vs 16 percent
• Profit up 106 percent at Rs 53.5 crore versus Rs 26 crore

Kesar Terminals (Q1FY18 YoY)

• Revenue down 4.5 percent at Rs 10.7 crore versus Rs 11.2 Crore
• EBITDA down 20.6 percent at Rs 5.4 crore versus Rs 6.8 crore
• Margin at 50.5 percent versus 60.7 percent
• Profit down 38 percent at Rs 3.7 crore versus Rs 6 crore

Mandhana Retail (Q1FY18 YoY)

• Revenue up 46.8 percent at Rs 71 crore versus Rs48 crore
• EBITDA down 11.5 percent at Rs 4.6 crore versus Rs 5.2 Crore
• Margin at 6.5 percent versus 10.8 percent
• Net profit down 14.3 percent at Rs 2.4 crore versus Rs 2.8 crore

Stocks To Watch

• Overseas investment limit in Capital First raised to 50 percent from 24 percent
• Tata Motors Global Wholesales up 9 percent YoY at 94,210 units in August
• Tata Chemicals to sell 4.31 crore shares of Tata Global Beverages to Tata Sons
• Tata Global Beverages to sell 1.05 crore shares of Tata Chemicals to Tata Sons
• Dr Reddy's unit Aurigene and Curis announce the start of Phase II trials of its CA-170 program
• S H Kelkar board approves acquisition of VN Creative Chemicals
• Rane Holding acquired 10.96 lakh shares in Rane Madras at Rs 547 each. Holding increased to 60.44 percent post the acquisition
• Wipro Lighting concludes agreement with pureLiFi
• NBCC signs pact with Belarus' BZS for infra, energy projects
• Shree Pushkar board meet on October 3 to consider preference shares to promoters
• Indian Bank to appoint merchant banker for stake dilution

Bulk Deals

SP Apparels: Scottish Oriental Smaller Companies Trust plc bought 4.87 lakh shares (1.9 percent) at Rs 411.1 (average)

ADF Foods

• Promoter Ashok Thakkar sold 3.50 lakh shares (1.7 percent) at Rs 225.06 each
• Held 4.61 lakh shares (2.18 percent) as per June filing.

Nath Bio Gene Ltd: Satpal Khattar bought 2 lakh shares (1.25 percent) at Rs 406.5 (average) each

Omkar Speciality Chemicals: Promoter Omkar Herlekar sold 1.65 lakh shares (0.8 percent) at Rs 87.75 each

Who's Meeting Whom

• Dena Bank to meet investors on September 13-14 in Mumbai and Chennai
• Voltas to hold meet with sell side analysts on September 14
• Gujarat Pipavav Port to meet B&K on September 13 and HSBC on September 18
• Rico Auto to meet investors on 15 September
• Arvind will meet Sundaram MF, Tattva Cap and Franklin Templeton MF on September 15
• Eris Life to meet Grandeur Peak on September 21
• Shriram Transport will meet funds JP Morgan, Oppenheimer, Franklin Templeton from September 13-22
• Finolex Industries will meet Nalanda Capital on September 19
• M&M Financial will meet Blackrock Asia on September 26

IPO

• Matrimony IPO Day 3. Issue subscribed 1.36 times
• Capacit'e Infraprojects IPO opens. Issue price Rs 245-Rs 250
• SBI Life IPO to open on September 20, closes on September 22. Price band set at Rs 685-Rs 700 per share
• Bandhan Bank appoints five merchant bankers for proposed IPO

Rupee

• Rupee ended at 64.03/$ Vs 63.93/$ on Monday

Economic Data

• August CPI at 3.36 percent versus 2.4 percent in July. Bloomberg Estimate was 3.24 percent
• July IIP growth at 1.2 percent versus -0.2 percent (MoM).

Movers & Shakers This Month (NSE 500)

Index Trends

F&O Cues

• Nifty Sep Futures closed with a premium of 15 points Vs 20 points
• Sep Nifty Futures open interest up 1 percent, Bank Nifty open interest up 7 percent
• India VIX closed lower by 4.8 percent at 11.7
• Sep series highest Call base shifts to 10,200 (open interest at 38.3 lakh, up 5 percent)
• Sep series highest Put base at 9900 (open interest at 63 lakh, open interest up 13 percent)
• Call strikes 9,900,10,000 see open interest unwinding, 10,200 sees open interest addition
• Put strikes 10,000, 10,100, 10,200 see open interest addition

F&O Ban

• In Ban: DHFL, Indiabulls Real Estate, JP Associates
• New In Ban: JP Associates
• Out of Ban: JSW Energy, Just Dial

Only intraday positions can be taken in stocks which are in F&O ban, incase of rollover there is a penalty

Put-Call Ratio

• Nifty PCR at 1.51 from 1.43
• Nifty Bank PCR at 1.21 from 1.09

Stocks Seeing High Open Interest Change

• Voltas sees OI addition of 29 percent on long side
• Havells sees OI addition of 19 percent on long side
• Indigo sees OI addition of 17 percent on short side
• ACC sees OI addition of 13 percent on long side
• Mannapuram sees OI addition of 13 percent on long side
• NBCC sees OI addition of 11 percent on long side
• NCC sees OI addition of 11 percent on long side
• IGL sees OI addition of 11 percent on long side
• JSW Energy sees OI shedding of 7 percent, short covering seen

Fund Flows

Brokerage Radar

UBS on TCS

• Maintains Buy with target price of Rs 2,800
• Lack of internal challenges could help TCS gain market share over peers
• TCS as best placed to address the transformation to digital services
• TCS benefitting from high employee satisfaction

Credit Suisse on Oil & Gas

• Maintains rating and target price of Petronet, GAIL, Indian Oil and BPCL
• Exxon-Gorgon deal suggest a $380 million present gain to Indian buyers
• GAIL swapping 60 percent U.S. LNG does not mean zero loss

BoFAML on GAIL India

• Maintains Underperform with target price of Rs 302
• GAIL swapped 3.5MT using mix of time and destination swaps
• Meaningful capacity expansion in fertiliser unlikely before FY21
• Time swaps avert pricing risk; destination swaps lower freight cost

Credit Suisse on Market Strategy

• CPI numbers yet to see full impact of GST and housing
• Concerned on farm income growth; Negative for cement and staples

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