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Sensex, Nifty Post Longest Losing Streak In 3 Months

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Sensex, Nifty Post Longest Losing Streak In 3 Months
The Bombay Stock Exchange (BSE) building. Photographer: Prashanth Vishwanathan/Bloomberg
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.21 percent to 9,862.5.
Sep 26, 2017 15:30 (IST)
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Sep 26, 2017 14:49 (IST)
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Sep 26, 2017 15:17 (IST)
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Sep 26, 2017 15:05 (IST)
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To Read The Full Report, Click Here

Sep 26, 2017 14:52 (IST)
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We have already received round one approval from IRDAI. We expect to become operational beginning early next year.  
Anmol Ambani, Executive Director, Reliance Capital
Sep 26, 2017 13:04 (IST)
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Sep 26, 2017 14:50 (IST)
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To Read The Full Report, Click Here

Sep 26, 2017 10:29 (IST)
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Sep 26, 2017 10:02 (IST)
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Shares of the D-Mart store operator rose as much as 18.3 percent, snapping a three-day decline, after brokerage house Goldman Sachs initiated coverage on the stock with a buy rating.

Goldman Sachs On Avenue Supermarts

  • Price target at Rs 1,586; add to conviction list
  • Benefit from tax reforms as grocery market share shifts to the organized sector
  • Set to grow EBIT by 13x in 10 years, aided by this high growth, low margin and high return strategy
  • Valuation is full as 65x FY19 PE but does not factor growth, business model

3 Reasons For Conviction List Addition

  • Profitable supermarket chain
  • Beneficiary of recent government reforms
  • Winning the online wallet

Sep 26, 2017 13:15 (IST)
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  • Entertainment Network India: Shares of the Radio Mirchi operator fell as much 1.17 percent. Trading volume was 42.2 times the 20-day average for this time of day.
  • IFB Industries: Shares of the home appliances maker dropped as much as 2.15 percent. Trading volume was 39.4 times the 20-day average for this time of day.
  • TI Financial Holdings: Shares of the Murugappa Group company dropped as much as 2.5 percent. Trading volume was 22.1 times the 20-day average for this time of day.
  • Rural Electrification Corp: Shares of the state-owned company fell 2.6 percent. Trading volume was 2.7 times the 20-day average for this time of day.
Sep 26, 2017 12:32 (IST)
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Sep 26, 2017 12:03 (IST)
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Sep 26, 2017 10:18 (IST)
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Sep 26, 2017 10:13 (IST)
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Sep 26, 2017 08:24 (IST)
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Sep 26, 2017 09:55 (IST)
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  • IDFC has 15.8 lakh shares change hands in a block deal
  • Aurobindo Pharma has 10.2 lakh shares change hands in single block
  • Deep Industries has 89.6 lakh shares (or 28 percent of equity) change hands in a block deal on the BSE.

    • Buyers and sellers were not immediately known.

    Source: Bloomberg

Sep 26, 2017 09:27 (IST)
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Sep 26, 2017 09:12 (IST)
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Sep 26, 2017 07:43 (IST)
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Sep 26, 2017 07:43 (IST)
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  • Nifty September Futures closed with a premium of 6 points from 18.5 points
  • Nifty October Futures trading with a premium of 39 points at 9911.7
  • Rollover: Nifty at 20 percent, Bank Nifty at 19 percent
  • Nifty Futures open interest across series up 4 percent & Bank Nifty up 0.1 percent
  • India VIX closed higher by 4.1 percent at 13.3
  • September series highest Call base shifts to 10,000 from 10,200 (open interest at 64.4 lakh shares, up 55 percent)
  • September series highest Put base shifts to 9700 from 9,900 (open interest at 39.2 lakh shares, up 16 percent)
  • Call strikes at 9900, 9950, 10,000 saw open interest addition
  • Put strikes 9900, 10,000 sees open interest unwinding, addition seen for 9700 & 9800
Sep 26, 2017 07:49 (IST)
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  • Prataap Snacks IPO Day 3. The issue was subscribed 2.18 times at end of day 2.
  • Godrej Agrovet IPO price band at Rs 450 - 460 per share
Sep 26, 2017 07:43 (IST)
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Nomura on Coal India

  • Maintain Neutral; Cut price target to Rs 260 from Rs 320
  • FY18 and FY19 EPS estimates cut by 16 percent and 10 percent respectively
  • FY18 and FY19 EBITDA estimates cut by 12 percent and 4 percent respectively
  • Cut quantifying grade slippage and wage revision risk
  • Hike in non-coking coal prices imperative; Expect 4-5 percent price revision
  • Expect dividend per share of Rs 14 and Rs 18 for FY18 and FY19 respectively

Edelweiss on Adani Transmission

  • Initiate Buy with price target of Rs 154
  • EBITDA and net profit expected to grow at CAGR of 19 percent and 36 percent respectively over FY17-19; And robust free cash flow
  • Positives:- domestic transmission opportunity, debt restructuring & additional leveraging and aggressive growth to drive economies of scale and synergy benefits

IIFL on Century Plyboards

  • Maintain Buy Rating with price target of Rs 330
  • Revenue, EBITDA and Net profit to grow at CAGR of 20 percent, 18 percent and 15 percent respectively over FY17-19
  • Increase in capacities, entry in MDF segment and revival in housing offstage to drive earnings
  • Company to generate strong free cash flow over next 2-3 years
  • Net debt-to-equity to reduce to 0.5 times in FY19 from 0.8 times in FY17
  • Improving product mix and operating leverage to drive an uptick in margins from FY19

IIFL on HUL

  • Maintain Buy; Hiked price target to Rs 1,270 from Rs 1,225
  • Expect 4-5 percent volume growth and 9 percent revenue growth in Q2FY18
  • Benign input cost and cost-saving initiatives to drive 19 percent growth in EBITDA and Net profit
  • HUL suggests no significant recovery in consumer demand
  • Expect EPS to grow at 17 percent CAGR over FY17-20

Credit Suisse on Capital Goods

  • Mid-cap companies suggest modest impact of GST; L&T cautious on uncertainties created by GST
  • Process related issues exist; GST making them review execution timelines
  • Maintain Outperform on L&T with price target of Rs 1,425
  • L&T witnessing execution pick-up and can unfold several large domestic opportunities
  • Maintain Outperform on Sadbhav Engineering with price target of Rs 360
  • Maintain Outperform on Dilip Buildcon with price target of Rs 650
  • Outperform on Dilip and Sadbhav on the back of strong execution and opportunities in the roads sector

JPMorgan on Metals

  • Expect limited correction in metal stocks and every correction should be entry opportunity
  • Pullback in metal stocks expected led by Chinese supply cuts and strong global growth
  • Tata Steel, Hindalco, Vedanta and JSW Steel with improved balance sheets to work on next phase of value-accretive growth projects
  • Next trigger only in February 18 when news related to shut capacity in China flows
  • Weakness in domestic liquidity should weigh on the stocks

Macquarie on L&T Infotech

  • Maintain Outperform with price target of Rs 920
  • LTI is hiring seniors, culture changed to sales led approach from delivery led approach and strong automation-led approach for IMS and BPO to grow at faster pace
  • LTI stepping up its local hiring in U.S. to deal with H1B
  • LTI preferring small capability based acquisitions to chase revenue growth
  • LTI mindful of rising cash balance; Expects dividend payout to increase

DB on Titan

  • Maintain Buy Rating with price target of Rs 625
  • Preponement of purchase in Q1FY18 and government notification on PMLA to lead to weak demand in Q2FY18
  • New PMLA regulation to increase selling process time at the store

HSBC on Phoenix Mills

  • Maintain Buy Rating with price target of Rs 580
  • Company to double its mall space over the next five years
  • Double-digit rental growth to continue along with significant free cash flows
  • Company focus is now on adding to its retail portfolio under the new platform
  • Rental income and net profit to grow at CAGR of 13 percent and 30 percent respectively over FY17-20

CLSA on PM’s Power Push

  • The key is not the scheme but implementation of the scheme
  • Marginal power supply to consumers under the Saubhagya scheme could be loss making
  • Remain defensive on sector; Buy on regulated utilities stocks
  • Buy on NTPC, Power Grid and Tata Power
  • Sell on Adani Transmission, Adani Power and JSW Energy

Sep 26, 2017 07:43 (IST)
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  • Tata Motors: Jaguar Land Rover is said to scout for luxury brand acquisitions, according to Bloomberg
  • IOC board clears Rs 27,000 crore refinery of its unit Chennai Petroleum
  • DS Kulkarni to consider financial restructuring on October 3
  • IFCI approves sale of 0.86 percent stake in NSE to investors
  • IDBI Bank says it sold 1 percent stake In SIDBI On Friday
  • Chennai Petroleum To set up new 9 mmtpa refinery at Nagapattinam
  • GAIL plans to set up petrochemical complex in Andhra Pradesh, according to PTI
  • RBI says FII investment in JSW Holdings reached trigger limit
  • GE Shipping takes delivery of second hand medium gas carrier. Fleet size increases to 47 vessels.
  • Aditya Birla Capital receives in principal approval from RBI to set up an ARC
  • Ess Dee Aluminum Chairman Sudip Dutta granted bail
  • Just Dial completes buyback of 22.41 lakh shares. Post buyback no. of equity shares reduces to 6.73 crore
  • Swaraj Automotive’s two day offer for sale starts today
  • TV Today circuit filter revised to 10 percent
  • Sutlej Textiles: Ex date for stock split from Rs 10 to Re1 per share
  • Manpasand Beverages: Last trading day before 1:1 bonus
  • MOIL: Last trading day before 1:1 bonus
  • Lupin gets U.S. FDA nod for Clobetasol propionate topical lotion
  • The Sirpur Paper Mills: National Company Law Tribunal’s Hyderabad Bench admitted the applications filed by the creditors for initiation of corporate insolvency resolution process.
  • JK Paper: Disruption in production process at Orissa unit due to stoppage of water supply by some local villagers.
  • JM Financial: Shareholders approve board of directors to borrow money up to Rs 5,000 crore.
Sep 26, 2017 07:43 (IST)
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Sep 26, 2017 07:43 (IST)
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