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Nifty Ends At Over 1-Month Low Amid Derivatives Expiry

Nifty Ends At Over 1-Month Low Amid Derivatives Expiry
An employee is reflected in a glass panel as he monitors securities on a computer monitor at a brokerage firm in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
8 years ago
Mercator will be in focus after its arm got a mining lease in Gujarat for 20 years.

  • ICICI Bank has 46.9 lakh shares change hands in two blocks. Stock falls 3 percent to Rs 270.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the Anil Ambani-led company rebounded from intraday lows and rose 0.6 percent to Rs 398.

Maharashtra Electricity Regulatory Commission has approved the sale of Reliance Infrastructure’s integrated Mumbai power business to Adani Transmission, the company said in an exchange filing.

Ananth Narayan, money market veteran and professor at S P Jain Institute of Management and Research told BloombergQuint in an interview that ongoing trade wars and rising crude oil are weakening Indian rupee.

Key highlights of the conversation:

  • Ongoing trade wars and rising crude oil weakening Indian rupee.
  • Weaker rupee may help achieve trade balance, will aid exports.
  • Rupee seeing correction confident that RBI will step in.
  • Non-deliverable futures markets is still relevant, more offshore buying seen.
  • Important to address core issues like capital flows, banking system, exports and imports.
  • Extremely high REER of 121 percent led to poor exports last year.

  • Chambal Fertilisers has 12.7 lakh shares change hands in a block. Stock up 0.5 percent at Rs 158.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the Delhi-based news broadcast company rose by its daily maximum limit of 20 percent for second straight day to Rs 46.55.

The stock has been witnessing buying interest since yesterday after Sebi ordered Vishvapradhan Commercial to make an open offer for NDTV for indirectly acquiring up to 52 percent via a convertible loan of Rs 350 crore in 2009.

Meanwhile, in today's session the stock saw a spike in volumes as trading volume was over 5 times its 20-day average.

Shares of the Mumbai-based real estate company rose as much as 14.71 percent to Rs 95.90 after it acquired seven acres of land at Palaspe in Panvel near Mumbai.

The land is near Mumbai-Goa highway and it is also closer to the upcoming Navi Mumbai International Airport, Arihant Superstructures said in an exchange filing.

  • ICICI Bank has 15 lakh shares change hands in a block. Stock down 1.7 percent at Rs 274.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

  • Jyothy Labs: The Mumbai-based household products maker rose as much as 1.4 percent to Rs 226.35. Trading volume was 4.4 times its 20-day average.
  • Carborundum Universal: The Chennai-based industrial ceramic products maker fell 0.6 percent to Rs 319. Trading volume was 5.8 times its 20-day average.
  • Container Corp: The Delhi-based government owned logistics service provider rose 5.3 percent to Rs 638. Trading volume was 3.2 times its 20-day average.
  • Srei Infrastructure Finance: The Kolkata-based commercial finance company fell 5 percent to Rs 60.85. Trading volume was 5.9 times its 20-day average.

Shares of the Chennai-based public sector lender fell as much as 4.4 percent to Rs 332 after it withdrew dividend payment plan of Rs 6 as decided on May 10, the company said in an exchange filing.

  • Gujarat Pipavav Port has 11 lakh shares or 0.5 percent equity change hands in a single block on the BSE. Stock up 3.9 percent at Rs 109.35.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the Mumbai-based fitness centre operator rose as much as 4.93 percent to Rs 47.85 a day ahead of its demerged entity Talwalkars Lifestyles gets listed on stock exchanges.

Shares of the Mumbai-based mining company rose as much as 7 percent, the most in over a month, to Rs 22.95.

Gujarat government has awarded a mining lease to the company for exploiting 23 million barrels of oil for a period of 20 years, the company said in an exchange filing.

Shares of the oil refining companies extended fell for second day in a row as crude continues to rise in international markets.

WTI Crude rose 3.2 percent to end at 72.76 per barrel in yesterday's session.

  • Bharat Petroleum fell 1.55 percent
  • Hindustan Petroleum declined 2.6 percent
  • Indian Oil slipped 0.5 percent

Shares of the Noida-based IT company rose over a percent after foreign brokerage firm HSBC upgraded the stock to 'buy' from 'hold' and raised its target price to Rs 1,065 from Rs 1,050.

HSBC in a note said:

  • HCLT is set to grow at a slower pace in 2018-19 compared to top four.
  • Discount is now too extreme relative to growth differentials to peers.
  • HCL is the cheapest stock in the India IT sector across large and mid caps.
  • Investor concerned on long-term outlook for Infra services and over recent purchase.

Shares of the Mumbai-based steel maker rose as much as 1.3 percent to Rs 550.25 as Thyssenkrupp and Tata Steel are said close in on a joint venture deal, Reuters reported.

Thyssenkrupp and Tata Steel are nearing a 15 billion euro ($17.4 billion) deal this week to combine their European assets into a global steel giant, Reuters reported citing three unidentified people.

Khoon Goh, head of Asia research at ANZ Banking Group told BloombergQuint in an interview that rupee is likely to weaken further from current levels however he sees it not weakening below 72 per dollar.

Key highlights of the conversation:

  • Expect Rupee to weaken further from the current levels.
  • Weakness in Renminbi due to U.S.-China Trade War.
  • Weakness largely driven by trade tension and outflows from China.
  • Don't see a currency war in the current scenario.
  • Expect rupee to breach all-time low of 68.86 per dollar in the near term.
  • Don't expect rupee to touch 72 per dollar by year end.

Indian Rupee A Whisker Away From All-Time Lows

Goldman Sachs on Fortis Healthcare

  • March quarter sales/Ebitda were below expectations.
  • Weakness predominantly driven by Hospital business, which saw utilisation decline.
  • Focus now shifts to public bidding process.
  • Audited results likely in upcoming days.

CLSA on Lemon Tree

  • Maintained ‘Buy’ with a price target of Rs 90.
  • Improving industry dynamics, operational performance to improve returns.
  • Moving towards an asset-light model, as brand gets established in mid-priced segment.
  • Highest demand-supply mismatch in mid-priced segment to lead to sustained price hikes.

CLSA on Crompton Greaves Consumer

  • Maintained ‘Buy’ with a price target of Rs 305.
  • New category additions, increasing distribution reach to drive growth.
  • Product innovation and new launches remains key focus area.
  • Shift to LED to continue to drive growth in lighting segment.

CLSA on Future Lifestyle

  • Maintained ‘Buy’ with a price target of Rs 535.
  • Robust expansion plans for Brand Factory and Power brands to drive growth.
  • Central stores expected to capture higher share of brands retail in India.
  • L Catterton Asia to acquire approximately 10 percent stake through a mix of preferential issue and secondary purchase.

Kotak on Colgate

  • Maintained ‘Add’ with a price target of Rs 1,300.
  • Company is not regaining any market share lost to Patanjali so far.
  • Underlying category volume growth is inching up but at a slow pace.
  • Price hikes to take care of input cost inflation trends.
  • Expect higher advertising investment on flagship brand in naturals segment.

HSBC on HCL Tech

  • Upgraded to ‘Buy’ from ‘Hold’; raised price target to Rs 1,065 from Rs 1,050.
  • HCLT is set to grow at a slower pace in 2018-19 compared to top four.
  • Discount is now too extreme relative to growth differentials to peers.
  • HCL is the cheapest stock in the India IT sector across large and mid caps.
  • Investor concerned on long-term outlook for Infra services and over recent purchase.

Motilal Oswal on Tata Communications

  • Maintained ‘Buy’ with a price target of Rs 730.
  • Strong order funnel to drive growth.
  • Expect earnings to start improving from July.
  • New growth ventures – ‘innovation business’ to remain slow starter.
  • ATM business revenue/Ebitda to improve.

Who's Meeting Whom
  • Eicher Motors to meet White Oak on June 28 and Manulife Asset Management on June 29.
  • Endurance Technologies to meet Axis Mutual Fund, Motilal Oswal Mutual Fund and other investors on June 28.
  • Aster DM Healthcare to meet investors on June 29.

Insider Trades

  • Cosmo Films promoter acquired 15,000 shares on from June 25-26.
  • Visaka Industries promoter group acquired 1,700 shares on June 25.
  • Man Industries promoter Rameshchandra Mansukhani acquired 17,000 shares on June 26.
  • Trident Ltd promoter acquired 39,000 shares on June 26.

(As reported on June 27)

Bulk Deals

Zee Media Corporation

  • Promoter Arm Infra and Utilities sold 48.36 lakh shares or 1.03 percent equity at Rs 26.1 each.
  • JSGG Infra Developers LLP acquired 48.36 lakh shares or 1.03 percent equity at Rs 26.1 each.

Tasty Bite Eatables

  • Jupiter India acquired 30,000 shares or 1.17 percent equity at Rs 7,485 each.

Trading Tweaks

  • Nila Infrastructures circuit filter revised to 20 percent.
  • Jyothy Laboratories ex-date for 1:1 bonus.
  • Prabhat Telecoms (India) Limited ex-date for 1:5 bonus.
  • Gujarat Automotive Gears name changed to HIM Teknoforge Limited.

F&O Cues

  • Nifty futures ended at 10,673 with a premium of 2 points.
  • Nifty futures add 8.8 lakh shares in open interest.
  • Nifty Bank futures shed 90,000 shares in open interest (OI).
  • Max open interest for June series call at 10,800 strike price call option, OI at 55.7 lakh shares.
  • Max open interest for June series put at 10,600 strike price put option, OI at 31.6 lakh shares.

  • Thyssenkrupp, Tata Steel are said to close in on a JV deal (Reuters)
  • Fortis Healthcare to extend deadline for submission of bids.
  • Bank of Maharashtra’s exposure to DS Kulkarni at Rs 96.52 crore.
  • Karnataka Bank hikes deposit interest rates by 10 basis points to 7.35 percent across various tenors.
  • Mercator arm gets mining lease in Gujarat for 20 years; 23 million barrels of oil to be exploited.
  • Talwalkars Lifestyles to be listed on both exchanges from June 29.
  • GMR Infrastructure declared as selected bidder for development of a commercial port located Vizag.

Varroc Engineering IPO: Here’s All You Need To Know

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