Wednesday, July 20, 2011
Result Update: HDFC Bank (Q1 FY12) – BUY
CMP Rs511, Target Rs575, Upside 12.6%
± Robust loan growth at 9.5% qoq; corporate segment witness significant traction
± Deposit growth was muted; CASA decline by significant 360bps qoq
± Resilient NIM performance; improvement in YoA offset higher CoD
± Asset quality remains sanguine; bank made floating provisions of Rs2.5bn. Capital adequacy and RoA continues to be strong
± ‘Safe Haven’ in deteriorating sector dynamics; upgrade target price to Rs575 and retain BUY
Market Commentary ...
The
Indian market is set to get an early boost from a powerful rally on
Wall Street. US stocks surged, with the Dow logging its best day this
year. The US gains were underpinned by strong earnings from IBM and an
encouraging report on housing starts.
Meanwhile,
President Barack Obama says there has been some progress in talks with
lawmakers about raising the debt limit. US House approved a Republican
bill that would raise the debt ceiling on condition that the Congress
pass a balanced budget and make deep spending cuts.
European markets also advanced. Asian indices are mostly higher but not by a great deal.
Back home, Q1 results will continue to drive sentiment. Wipro will be in the spotlight after the IT major announced its numbers.
A spate of mid-cap firms is also unveiling their earnings today. So, stock specific action will continue to hog the limelight.
Tuesday’s
ascent could lift the Nifty to at least 5650 and Bank Nifty to 11,600.
Today, we expect the positive trend to persist. However, profit booking
is not ruled out around 5670 levels.
Tuesday, July 19, 2011
TARGET ACHIEVED IN JUST 15DAYS.
VAS INFRA target achieved at 114.90, buy given at 94.90.
NEHA INT target achieved at 187 buy given 115 BOOK PROFIT
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NEHA INT target achieved at 187 buy given 115 BOOK PROFIT
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TARGET ACHIEVED
BOOK PROFIT
Market in Range ..
Markets likely in RED,
& Small
recovery is likely during the session,
wait and watch ..
BOOK PROFIT WHERE AND WHEN APPLICABLE..
BOOK PROFIT WHERE AND WHEN APPLICABLE..
Inventure Growth & Securities IPO
Opens on 20
July & closes on 22 July, 2011
Price Band
Fixed at Rs.100 to 117 per Shares
Incorporated in 1995, Inventure Growth and Securities
Ltd (IGSL) is a flagship Company of Inventure Group. They offer trading
services in equity cash and derivatives market, debt market, commodities and
currency futures segment to financing activity, wealth management, and
distributions of financial product. IGSL is providing advisory and innovatively
structured financial solutions in the area of fund raising, infrastructure
development, government borrowing, corporate restructuring and money market
intermediation. At the retail level, Inventure provides investment advisory
service and distributes financial products like mutual funds, insurance
products, etc. IGSL client includes institutional clients, high net worth
individuals and retail investors. Inventure operates through 224 business
locations including branches, franchisees (Remisiers
and Authorized Person) and sub-brokers located across India.
The promoters of the company are:� Mr. Nagji K. Rita,
aged 58 years, is the Executive Chairman and Managing Director of the Company
& Ms. Jayshree N. Rita, aged 58 years. The
objects of this Issue are to: Investment in our subsidiary, Inventure Finance Pvt Ltd; & Augmenting Long Term Working Capital
Requirement. Issue Opens on July 20, & closes on July 22, 2011. Company to
issue 70, 00, 000 shares at the Price band of Rs.100 to Rs.117 and to collect
Rs.82 crore share to to be
listed on BSE & NSE. Fitch & ICRA has assigned on IPO Grade 2/5.
L & T Finance IPO Opens on 27th July & Closes on 29th July
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Tepid Tuesday…rangebound action!
Sector Watch: OMC, Power & Tyre
Sector Avoid: Sugar, Oil Refineries
Morning Call
Trouble
for the market continues amid heightening worries over the debt
distress in the US and eurozone. Officials in both these regions seem to
be struggling to reach some agreement on how best to tackle the
problem. Lingering concerns about the fragile state of the global
economy is driving investors to the relative safety of precious metal.
Gold futures have crossed $1,600; and in India the prices have hit a
record high. Silver too has appreciated lately.
We
expect another muted start as most Asian markets are in the red. A
recovery later is always possible. US stock indices closed lower again,
as did their counterparts in Europe. We might see better action in terms
of volumes and participation as the F&O expiry approaches. Also, a
few important companies will announce their Q1 results today. HDFC Bank
is chief among them.
On
the whole, the key indices are likely to trade in a 5500-5800 range in
the near term. The medium term trend remains up, as long as the Nifty
trades above 5440 on weekly closing basis.
Corporate Snippets
± Lupin Ltd is considering selling its unit that markets medicines in India (ET)
± JSW Steel
is likely to take production cuts at its 10 mtpa steel plant at
Toranagal in Bellary district of Karnataka owing to severe shortage of
iron ore, the key raw material to make steel. (BS)
± Polaris Software Ltd
forayed into Bangladesh market by launching a joint venture company
along with Bangladesh-based public sector Bank Sonali Bank Ltd. (FE)
± NTPC
may be forced to drop the proposed 1,600 MW (2 X 800 MW) supercritical
thermal power project at Katwa in West Bengal, if the Mamata
Banerjee-led State Government fails to solve the land tangle. (BL)
± Pratibha Indsutries'
latest order wins take its order book to over Rs 56bn, which results in
the order book growing a hefty 31 per cent over that in June last year.
(BL)
± Tata Motors is planning assembly of more Land Rover models in India. (BL)
± Over 12 Kingfisher Airlines
flights were grounded at the country’s four major airports for two
hours after HPCL refused to supply fuel due to non-payment of dues. (BS)
± State-run Power Finance Corporation
plans to raise Rs 220bn through issuing infrastructure and tax-free
bonds, among others, during the current financial year. (BS)
± Infosys Limited
is vying for land in Gujarat. N R Narayana Murthy will meet Gujarat
Chief Minister Narendra Modi on Tuesday to discuss setting up of a
campus in the state. (BS)
Monday, July 18, 2011
सेन्सेक्स (18507.04) -54.88 अंक गिरकर, नीफ़्टी (5567.05) -14.05 अंक गिरकर, बंद.
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Sector Watch: Batteries, Tyre, Media, Power & Pharma Sector Avoid: I.T., Aviation, Banking & Telecom
Markets
to open flat to positive
&
May
consolidate during the session
Overall volatile session
Keep
Stock specific approach
Nifty & Sensex Levels
|
Nifty / Sensex
|
F & O Close Rate
|
R-1
|
R-2
|
S1
|
S2
|
|
NIFTY
|
5586.95
|
5670
|
5770
|
5542
|
5480
|
|
Sensex
|
18561
|
18840
|
19120
|
18425
|
18240
|
Daily & Short Term Recommendations
Buy Call
|
Scrip Name
|
F & O Close Rate
|
Target 1
|
Target 2
|
Stoploss
|
|
Sun
Pharma
|
508.15
|
513
|
524
|
500
|
|
Reliance
Industries
|
874
|
888
|
908
|
860
|
|
Rel.
Capital
|
594.00
|
610
|
635
|
580
|
|
Infosys
|
2740
|
2792
|
2854
|
2712
|
|
Yes
Bank
|
325.50
|
335
|
344
|
316
|
Sell Call
|
Scrip Name
|
F & O Close Rate
|
Target 1
|
Target 2
|
Stoploss
|
|
TCS
|
1147
|
1130
|
1101
|
1164
|
|
Sterlite Ind.
|
163.50
|
159
|
154
|
167
|
|
Tata Motors
|
1016.20
|
1101
|
987
|
1130
|
|
Rel. Power
|
113.90
|
110
|
107
|
117
|
Market Commentary ..
The
Indian market is all set to resume what could be yet another week of
topsy-turvy movement. The start is likely to be subdued given the mixed
cues from the overseas markets. While US stocks managed modest gains,
their European counterparts finished in the red. Asian indices this
morning are in no-man’s-land. Japanese markets are shut for a holiday.
For
India, the focus will continue to be on the latest batch of quarterly
earnings. No major results are due today. FII inflows too appear to be
tapering off a wee bit. The main indices likely have slipped into a
narrow trading band. Stock specific action will continue to be the order
of the day.
The short point is one shouldn’t rush things and wait for more clarity on the outlook for India as well as world economy.
Sovereign
debt crisis in Eurozone and the gridlock over budget will remain at the
forefront aside from earnings. Risk tolerance is not particularly high,
which shows in gold hitting new record. Nymex crude is hovering around
$97 mark.
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