CORPORATE NEWS 31-DEC-2018

RBI's deadline for Kotak promoter stake dilution today

Shares of Kotak Bank ended ~1% higher on Monday with the Reserve Bank of Indias (RBI) deadline to reduce promoter stake in the bank being today. As per the central bank's guidelines for new banks, Kotak Mahindra Bank was required to bring down promoter holding to 20% by December 31, 2018. Besides, the RBI requires the shareholding to fall to 15% by 2020 to reduce the promoters control over the bank, media reports said.

Marico slips on report Govt hikes MSP for Copra

Shares of Marico are trading lower by 1% on the BSE in the last hour of trading session amid media reports that the Cabinet has approved a hike in the minimum support price (MSP) for Copra by more than Rs2,000 per quintal for the 2019 season. The stock is among the top losers on the BSE FMCG index.

The cabinet increased the MSP for copra, which accounts for 40-50% of Marico's material costs, by Rs2,000 per quintal for 2019. The MSP of Copra has been increased from Rs7,511 per quintal to Rs9,521, reports added.

BHEL wins Rs3,500cr order for 660MW thermal power plant

Bharat Heavy Electricals Ltd (BHEL) has bagged a major order for setting up a 660MW supercritical thermal power plant in West Bengal valued at ~Rs3,500cr. The order for setting up the 1x660MW Sagardighi Thermal Power Project Extension Unit-5 at Manigram village in Murshidabad district of West Bengal has been placed on BHEL by West Bengal Power Development Corporation (WBPDCL).

Cadila Healthcare gains 1% as USFDA grants approval for Acne Gel

Shares of Cadila Healthcare were trading 1% higher on Monday as the company received approval from the USFDA to market Clindamycin Phosphate and Benzoyl Peroxide Gel.

The combination medication is used to treat a certain type of acne (inflammatory acne vulgaris), the company said in a press note to the exchanges on Saturday. Cadila will manufacture this gel at the groups topical manufacturing facility at Ahmedabad.

Reliance Industries acquires Kanoda energy systems

Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries, has entered into a binding agreement with Kanoda Energy Systems Private Limited ("KESL") for the acquisition of equity shares for a cash consideration not exceeding Rs75cr.

The said investment upon completion will translate into 88% equity stake in KESL on a fully diluted basis. The complete acquisition is likely to be completed by March 2020.

The investment will assist in the Reliance's initiatives to use renewable energy sources.

L&T Construction wins orders worth Rs2,084cr

The construction arm of L&T has won orders worth Rs2,084cr.

The Power Transmission and Distribution Business of L&T Construction has secured EPC orders worth Rs2,084cr, as per BSE filing. On the international front, the business has won a major order in the Kingdom of Saudi Arabia for the construction of 115kV Substations with associated transmission lines and cable circuits, the filing added.

Another order for 132kV cable works for a Substation has also been awarded in Dubai, UAE.

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MARKET WRAP UP.

Closing Bell: Sensex ends 2018 on a flat note, Nifty below 10,900; midcaps outperform.

Its a rather sombre end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900. Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.  At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50. The market breadth was narrow as 1495 shares advanced, against a decline of 1095 shares, while 164 shares were unchanged. Tata Steel, Vedanta, and JSW Steel were the top gainers, while Hero MotoCorp, Axis Bank, Bharti Airtel and Bharti Infratel lost the most.

HEADLINES OF THE DAY


Bharat Financial Inclusion gained 1 percent and CreditAccess Grameen rallied 3 percent intraday Monday after the completion of direct assignment transaction. State-run BHEL said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. DCB Bank advanced a percent after CRISIL upgraded its credit rating to AA-/Stable from A+/Stable for the Basel III Complaint Tier II bonds programme of Rs 150 crore by the bank. Cadila Healthcare shares gained 1.5 percent intraday after Zydus received approval from the US health regulator for anti-acne drug. Reliance Communications and Reliance Jio announced that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm.


The crucial resistance for Nifty spot is now seen at 10960 and above this 11120 Support for the immediate term is now placed at 10710 next support will be 10550.

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CS OPENING BELL 31-DEC-2018

NIFTY SPOT UP 56 @10916
SENSEX SPOT UP 190 @36272
BANK NIFTY FUTURES UP 116 @27396
HAPPY TRADING!
WWW.CAPITALSTARS.COM+919977499927

CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BEARISH
RES2: 11070
RES 1:10940
SUP1:10720
SUP2:10600 

CS BANK NIFTY FUTURES (JAN ) OVERVIEW
TREND BULLISH 
RES 2: 27480
RES 1: 27300
SUP1: 26900
SUP2: 26610 

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Nifty likely to open higher 31-DEC-2018

Indian Indices: Nifty has been flirting to its 50-DEMA from last 38 trading sessions and got stuck in a broader trading range with crucial hurdle at 10950-10985 zones.

Global Market:

 Asian markets: Shares in Hong Kong are higher today as the Hang Seng gains 1.60%. The stock markets in Tokyo and Shanghai are closed at this time.

 US Markets: U.S. Stock Futures Rally After Trump-Xi `Big Progress' Phonecall.

  European markets: European markets closed sharply higher on Friday with shares in London leading the region. The FTSE 100 is up 2.27% while France's CAC 40 is up 1.74% and Germany's DAX is up 1.71%.

 Major Headlines of the day:

 Stocks To Watch

 Marico: Minimum Support Price for Copra has been hiked by over Rs 2,000 per quintal for 2019 season by CCEA. The MSP of Copra has been increased from Rs 7,511 per quintal to Rs 9,521 per quintal. (Bloomberg News-All India Radio) IDBI Bank allotted 239 crore shares via preferential issue to LIC at a price of Rs 60.73 per share aggregating to Rs 14,500 crores in tranche 1. This exercise is the part of ongoing acquisition of 51 percent controlling stake by LIC in IDBI Bank. Aavas Financiers received fresh refinance assistance of Rs 500 crore from National Housing Bank. The company says that this refinance will strengthen the liquidity position of the company and will provide a strong boost to retail home loan activities in semi-urban and rural areas. Power Grid Corporation entered into a loan agreement for 200 million euros with Germanys KfW for the financing of transmission project for integration of clean energy and system strengthening. Government conveyed its decision to invest Rs 5,500 crore in Oriental Bank of Commerce by way of preferential allotment. The meeting to consider this capital raise will be held on Jan. 2.   JK Cement approved qualified institutional placement Issue price at Rs 695.8 per share which is at a discount of 5 per cent to the floor price of Rs 732.42.

credit access Grameen completed a direct assignment transaction of Rs 176.59 crore. The company says that with this transaction, the entity has completed five secularisation transactions and two direct assignment transaction amounting to Rs 909.70 crore in the financial year 2019. The financial services company also stated that the entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines. Rane Holdings increased its stake in its arm Rane Madras Ltd. from 3.05 per cent to 61.64 per cent for a consideration of Rs 20 crore. Manali Petrochemicals clarified that there was no strike or lockout and no insurance cover based on notice received from the Pollution Control Board for the closure of Plant 1 on Dec. 25. The company also stated that quantum of loss would depend on the period of closure and the company has taken actions for an early restart to recoup the production loss.

Karnataka Bank raised its deposit interest rate by 10 basis points for domestic and NRE Rupee term deposits to 7.40 per cent with effect from Dec. 28. Government conveyed its decision to invest Rs 1,632 crore in Syndicate Bank by way of preferential allotment of equity shares. Piramal Enterprises said it was considering raising Rs 100 crore via NCDs on Jan.2. Central Bank of India's board approved raising Rs 200 crore via employee stock option.

 Ashok Leyland changed its object clause in which the company will engage in the business of developing, manufacturing and selling light commercial vehicles up to 7.5-tonne gross vehicle weight, powertrain for LCVs, and spare parts in India and other countries. This change in object clause comes after NCLT approved the order of amalgamating its three arms with as on Dec. 17.

Omaxe clarified that the NCLT issuing contempt notice against its CMD Rohtas Goel was wrongly interpreted as the notice is related in Buildwell Builders Pvt. Ltd., where Rohtas Goel is the director as well as the shareholder. There is no effect on the operations or the performance from the above news as stated by the company.

 Bank of Baroda to consider raising funds on Jan. 02 through Basel III compliant tier II bonds.

Tata Investment Corporation fixed Jan.11 as the record date for buy-back.

 Infibeam Avenues terminated the proposed acquisition in the entire stake of Unicommerce, as the conditions precedent were not fulfilled within the stipulated time period. NLC India commissioned 1000 MW (2*500 MW) of the thermal power project. The project has been completed in four months as against a target of six months. Asian Granito's promoter and MD was arrested by Directorate of Revenue Intelligence for a case related to an amount of Rs 3.5 crore. Currently Mukeshbhai Patel is out on bail.

Fortis Healthcare: Pursuant to share issue, IHH prefers to align its auditors on a group-wide basis which may streamline the audit process and bring inefficiencies. After due consideration, Deloitte the statutory auditors have tendered their resignation.

Cadila Healthcare: received final approval from the U.S. FDA to sell an anti-acne medication. The drug will be made in Ahmedabad facility.

Bank of India: Government to infuse Rs 10,086 crore via equity in the bank. Board to consider resolution for the same on Jan. 02.

 Bharat Financial Inclusion: NBFC assigned a pool of receivables of an aggregate value of Rs 849.36 crore to private sector banks on a direct assignment basis. With this transaction, the Company has completed five direct assignment transactions worth Rs 3,864.91 crore in the current financial year.

 Kotak Mahindra Bank in focus today as it is the RBI deadline date for owner Uday Kotak to cut stake in the company.

The trend in FII flows:- The FIIs were Net Value of Rs -119.6 segment while the DIIs were Net Value of 1199.4 the provisional figures.

Securities in Ban For Trade Date 31-DECEMBER-2018

1.Adani power

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CORPORATE NEWS 28-DEC-2018

Government to infuse Rs28,615cr in 7 PSU Banks

The government is likely to inject Rs28,615cr fund in seven public sector undertaking (PSU) banks, as per media reports. As per the report, the seven banks are Central Bank of India, United Bank of India, UCO Bank, Bank of India, Bank of Maharashtra, Oriental Bank of Commerce (OBC), and Syndicate Bank.

Accordingly, the government is likely to infuse Rs10, 086cr in Bank of India and Rs1,678cr in Central Bank of India. Similarly, United Bank of India will get a capital infusion of Rs2, 159cr, while OBC will get Rs5,500cr, the report added.

Domestic pharma cos expected to grow at a CAGR of around 8-10% between FY18-2021

ICRA has given a stable outlook on the Indian pharmaceutical industry. The headwinds from pricing pressure in large regulated markets, especially the USA, increased cost related to regulatory compliances but are largely offset by growing scale of business, increased focus on speciality/ niche segments and comfortable balance sheet structure. The domestic pharmaceutical industry has gained adequate scale and generic drug development capabilities over a decade of growth which will keep them in good stead to capture bigger opportunities in the regulated market. The FY18-21 CAGR is expected to be around 8-10% for domestic Pharmaceutical companies.

Lemon Tree Hotels surges 8% on announcing JV with Warburg Pincus

Shares of Lemon Tree Hotels surged 8% in morning trade on Friday as the company announced forming a joint venture with an affiliate of Warburg Pincus to create a co-living platform.  An affiliate of Warburg Pincus, Magnolia Grove Investment Limited, and Lemon Tree Hotels Limited will hold 68% and 30% stake, respectively in the JV (Hamstede Living Private Limited). The balance 2% will be held by Mr Patanjali Keswani, Chairman and Managing Director of Lemon Tree Hotels.

Kansai Nerolac acquires Perma Construction for Rs29cr

Kansai Nerolac Paints (KNPL) has entered into Share Purchase Agreement (SPA) to acquire 100% equity stake in Perma Construction Aids Pvt. Ltd (PCAPL) for a total consideration of Rs29.1cr. PCAPL is one of the established construction chemicals companies in India having a diverse product range encompassing water-proofing, adhesives, epoxy, admixtures, etc. It has reported turnover of Rs27.3cr, 25.4cr and Rs23.8cr for FY18, FY17 and FY16 respectively. KNPL is expanding its product portfolio in construction chemicals and the acquisition of PCAPL will add to the product offerings of KNPL in the construction chemicals business. The deal is estimated to be completed by January 28, 2019.

Dilip Buildcon executes an agreement with NHAI

Shares of Dilip Buildcon traded higher on Friday after the company executed an agreement with the National Highways Authority of India (NHAI) for a road project worth Rs677.07cr in Uttar Pradesh.

The engineering, procurement, and construction (EPC) contract has been signed for the "rehabilitation and upgradation from 2 lanes to 4 lanes of the NH stretch under NHDP-IVB for the Lalganj  Hanumanha Section of NH-7 (Pkg-3) in Uttar Pradesh," the company said in a press note to the exchanges on Friday. The work is expected to be finished in 30 months.

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MARKET WRAP UP 28-DEC-2018

Closing Bell: Nifty kicks off January series above 10,850; Sensex up 269 pts; Nifty Pharma surges.

Its a consecutive session of positive close for the market on Friday. The Nifty has kicked off January series on a strong note, ending above 10,850-mark. 
Strong global cues, weaker crude as well as strengthening rupee were some of the primary factors behind the markets rally.  At the close of market hours, the Sensex was up 269.44 points or 0.75% at 36076.72, while the Nifty was higher by 80.10 points or 0.74% at 10859.90. The market breadth was narrow as 1546 shares advanced, against a decline of 1049 shares, while 163 shares were unchanged. Sun Pharma, Vedanta, and Titan were the top gainers, while Coal India, TCS, and Bharti Infratel lost the most.


HEADLINES OF THE DAY

Multiplex chain operator PVR said it is planning to raise up to Rs 750 crore through issue of securities to qualified institutional buyers, for which it is seeking shareholders' nod.
Tata Steel BSL (earlier known as Bhushan Steel) shares rallied nearly 7 per cent intraday after CARE assigned AA rating for company's bank facilities.
Shree Cement gained half a per cent after CARE reaffirmed its rating as A1+ for company's commercial paper worth Rs 600 crore. Kansai Nerolac Paints shares gained a per cent intraday after the acquisition of construction chemical company.
Finance Minister Arun Jaitley has said that 11 PSU banks have identified 55 foreign operations for rationalization and closure in this fiscal, according to a CNBC-TV18 report. HDFC Bank shares gained 1.5 per cent in the morning after research house Emkay has maintained its buy call on the stock and expects to gain 18 per cent to its price target to Rs 2,500 apiece.


The crucial resistance for Nifty spot is now seen at 10960 and above this 11100 Support for the immediate term is now placed at 10720 next support will be 10550.

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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Read More

CS OPENING BELL 28-DEC-2018

 
NIFTY SPOT UP 55 @10836
SENSEX SPOT UP 212 @36024
BANK NIFTY FUTURES UP 180 @27210
HAPPY TRADING!

WWW.CAPITALSTARS.COM+919977499927

CS NIFTY FUTURES (JAN ) OVERVIEW

TREND BEARISH
RES2: 11000
RES 1:10810
SUP1:10620
SUP2:10350
 


CS BANK NIFTY FUTURES (JAN ) OVERVIEW

TREND BULLISH 
RES 2: 27300
RES 1: 27100
SUP1: 26800
SUP2: 26610 

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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Read More