While the Nifty continues to make higher tops and higher bottoms, Sacchitanand Uttekar, assistant VP - technicals at Tradebulls said investors should countinue to adpot a stock-specific approach. He advised investors to have a mix of large caps and mid caps in the portfolio. "We haven't seen any particular sector taking the leadership role in this up move. This is unlikely to change."
Uttekar said he is bullish on some of the tyre and shoe makers.
Jewellery maker Titan Company Ltd. said in a media release that the current fiscal year has started off on a good note and that growth has been very good particularly in the jewellery business.
The release further stated that it has completed a successful transition to GST as a result of which the loss of sales on account of down stocking was negligible.
The company however said that the topline of the watches division is likely to remain flat due to rescheduling of the Titan and Fastrack activations. The activations have been postponed due to uncertainties on GST rates and its impact on the business.
Shares of the company erased losses to gain as much as 1.31 percent to Rs 539.40 on the National Stock Exchange.
North Korea says missile fired today was an intercontinental ballistic missile.https://t.co/nquHc8OCJy pic.twitter.com/cKd6Bahgw0
— BloombergQuint (@BloombergQuint) July 4, 2017
The benchmark NSE Nifty 50 Index rose the most in eight years in the first six months of 2017.https://t.co/4jiuFhtpLs pic.twitter.com/nV87AxyWxJ
— BloombergQuint (@BloombergQuint) July 4, 2017
Alivira’s differentiated product profile is well poised to drive the industry’s transition from treatment to prevention products. Our entry into Ukraine sets us up nicely to cement and expand our business interests in other CIS countries.Manish Gupta, Managing Director, Alivira
Shares of the speciality chemicals company fell as much as 7.17 percent, the most in a month, to Rs 86.10 after it announced its expansion plans by scaling up activities in the existing segments like pharmaceuticals.
The company also said that it would like to penetrate into segments like fragrances and flavours, foods and beverages in which new products will be launched in the immediate future.
The company also plans to stake claim for intellectual property rights for the new products under launch. It is also looking for acquisitions in the said business segments.
#BQSpotted by @OnlyNickey | Triveni Turbine surges to all-time high.https://t.co/0GIZu8RQon pic.twitter.com/RM7hXFbOlF
— BloombergQuint (@BloombergQuint) July 4, 2017
Integrated power infrastructure services company Power Mech Projects Ltd. won two orders from Nigeria and Bahrain worth Rs 624 crore, it said in an exchange filing.
The company has received an order for composite work tender unit - V for the Dangote Oil Refining Company Ltd. in Nigeria for approximately Rs 491 crore.
The second order has been received by the company's 51 percent subsidiary Mas Power Mech Arabia LLC from the Kingdom of Bahrain for a total contract price of approximately Rs 133 crore.
Shares gained as much as 5.07 percent, the most in two months to Rs 614.70 on the National Stock Exchange.
We will continue our comprehensive focus on design, quality and value for our customers.Jeeyan Patwa, Director, Lypsa Gems and Jewellery
Cable TV and Broadband services provider GTPL Hathway Ltd. listed at its issue price of Rs 170 on the National Stock Exchange as well as the Bombay Stock Exchange.
The 12th listing of 2017 saw its Initial Public Offering subscribed 1.53 times on the last day of its offer. The company had raised Rs 145 crore from anchor investors.
The company plans to use the IPO proceeds towards repayment of loans and other general corporate purposes.
Shares of the textile maker swung between gains and losses after it confirmed that income tax department officials conducted search operations on the company’s various properties.
The searches were carried out between June 30 and July 03, company said in its exchange filing. The stock has fallen for the last three sessions. Trading volume was 1.3 times the 20-day average for this time of day.
Shares of Just Dial Ltd. fell as much as 4.41 percent to Rs 365 after the resignation of its CFO Ramkumar Krishnamachari.
Morgan Stanley has maintained its 'Underweight' rating on the stock with a price target of Rs 355. It says in its note that the CFO's resignation could jeopardize the company's proposed strategy shift.
Lack of aggression and focussed execution could continued to post challenges in the wake of intense competition from both local and global companies, the note added.
Shares of the two-wheeler manufacturer fell as much as 2.41 percent, the most in two months to Rs 3,685 after 16 lakh shares exchanged hands on the exchanges in multiple block deals. Buyers and sellers were not known.
The stock was also in focus after it decided to stop royalty payments to Honda with effect from July 1.
Brokerage firm JPMorgan has maintained a 'Neutral' rating on the stock with a price target of Rs 3,800. The firm in its report expects a volume growth of 7 percent during FY18/19. While EBIT margin is forecast to fall 20 bps in FY18 to 14.9 percent, the decline may be as much as 100 bps in FY19 due to increase in commodity costs.
#BQMoney | Rupee unlikely to breach levels of 65.25 against the U.S. dollar: Ankur Jhaveri of Edelweiss Securities.https://t.co/0JflXhlKau pic.twitter.com/FJSjEwzVQY
— BloombergQuint (@BloombergQuint) July 4, 2017
- ICICI Prudential: BofAML hikes price target to Rs 540
- Godrej Properties: Morgan Stanley downgrades to 'Equalweight' on rich valuations
- Dr. Reddy's Laboratories: Credit Suisse cuts EPS estimates for FY19 by 23 percent
- Just Dial: Morgan Stanley maintains 'Underweight' with price target of Rs 355
- Hero MotoCorp: JPMorgan maintains 'Neutral' with price target of Rs 3,800
- Ambuja Cement: Secures 42 million tonne Limestone block
- Yes Bank: To consider stock spilt on July 26
- Wockhardt: Gets U.S. FDA nod for Olopatadine HCI eye drop
- JK Cement: Seeks shareholder nod to raise up to Rs 1,500 crore
- Hero MotoCorp: Won't pay royalty to Honda anymore
- Saksoft: Completes acquisition of 360 Logica
- Jindal Poly Films: Netherlands’ unit to acquire apeldoorn
- NTPC: Begins Unit-II commercial operation at Muzaffarpur plant
- MEP Infra: Seeks shareholder nod to raise up to Rs 500 crore
For a complete list of stocks to watch, click HERE!
- Tomato at Rs 70, peas at Rs 120 per kg as vegetable prices soar
- RBI increases FPI investment limits in G-Secs, SDL for July-September period
- BookMyShow acquires restaurant search engine Burrp
- 22 states remove check posts after July 1 GST rollout
- Nandan Nilekani launches $100 million VC fund
- GTPL Hathway to list on BSE / NSE
- Morgan Stanley downgrades Godrej Properties on rich valuations
- Hero MotoCorp stops royalty payments to Honda from July 1
- North Korea fires ballistic missile into sea near Japan
Good Morning!
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,617.
Asian stocks climbed after American equities touched a new all-time high on increasing confidence on the economy. The yen climbed on speculation North Korea launched a missile that may fall in Japanese waters.
The Dow Jones Industrial Average rose to an intraday record on Monday, before paring gains in a truncated week. The U.S. dollar gained the most in two weeks after American factories powered up in June at the fastest pace in nearly three years.
Crude oil prices fell 0.32 percent after an eight-day rally. Gold snapped a three-day decline, rising 0.3 percent to $1,223.9 an ounce. Iron ore fell more than 1 percent yesterday. The commodity had risen in 12 of the 14 previous trading sessions.
The Reserve Bank of Australia’s policy statement and a central bank decision in Sweden is due today. South Korean inflation numbers are also expected later in the day.
German Chancellor Angela Merkel will host a two-day G-20 summit in Hamburg starting Friday. President Donald Trump will attend the summit and is expected to hold his first meeting with Russian President Vladimir Putin on the sidelines.
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