Equity Research Report Ways2Capital 11 Sep 2017
Added: (Mon Sep 11 2017)
Pressbox (Press Release) -
Nifty futures/Bank Nifty futures market closed on 9946/24370 According to technical analysis if Nifty futures and Bank Nifty future moves up-word in tomorrow treading session then 9975 will be small resistance for Nifty futures and at the same time 24444 will be small Resistance for Bank Nifty futures, if it break this level then then Nifty futures can touch 10005 level and Bank Nifty futures can touch 24519 level in next few days. It will be hard resistance for Nifty futures and Bank Nifty futures. Meanwhile in reveres there is small support on 9918 for Nifty futures and 24280 is for Bank Nifty futures after breaking this support with volume there is big support for Nifty futures on 9891 and 24280 for Bank Nifty futures. .
NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
CANARA BANK REVISES INTEREST RATE ON SAVINGS BANK DEPOSITS - Canara Bank on Friday has revised its interest rate on savings bank deposits to 3.50% for outstanding balances upto Rs 50 lakh. The interest rate on savings bank deposits remained unchanged at 4% for outstanding balances of above Rs 50 lakh, said the bank in a BSE filing on Friday. Canara Bank ended at Rs 340.50 per share, up by Rs 1.30 or 0.38% on Friday, on the BSE. The stock hit an intraday high and low of Rs 345.90 and Rs 339.30, respectively. The stock attracted a traded volume 13,55,207 shares and traded value of Rs 4,642.94 lakh on the NSE. The company had hit its 52-week high of Rs 416 on May 5, 2017, and 52-week low of Rs 244.85 on November 9, 2016, on the NSE.
ADITYA BIRLA CAPITAL LIMITED LISTS ON STOCK EXCHANGES - Aditya Birla Capital Limited formerly known as Aditya Birla Financial Services Limited, the holding company of the financial services businesses of the Aditya Birla Group, on Friday, listed on the Stock Exchanges, at an opening price of Rs 250, which implies a market capitalisation of over Rs 55,000 crore.
AXIS BANK RELEASES EXPOSURE DETAILS TO DEFAULTER ACCOUNTS NAMED BY RBI - Axis Bank has informed the bourses about its exposure to select accounts referenced in RBI directions for initiation of insolvency proceedings, if their NPAs are not resolved by mid-December. The Reserve Bank of India had issued directions on August 28, 2017, advising banks to finalise and implement viable resolution plan in select accounts by December 13, 2017, failing which insolvency proceedings would be initiated in all the accounts mentioned in the communications and accordingly mandated provisions should be made by March 31, 2018, said the bank in a BSE filing on Friday.
TVS MOTOR TOTAL SALES UP 16% IN AUGUST - TVS Motor Company registered a sales growth of 16%. Sales increased to 3,17,563 units in the month of August 2017 as against 2,74,303 units in August 2016, said the company in a BSE filing on Friday post market hours.
TATA MOTORS TOTAL SALES UP 14% IN AUGUST - Tata Motors passenger and commercial vehicles total sales in August 2017 were at 48,988 vehicles, higher by 14% over 43,105 vehicles sold in August 2016, showed the data issued by the company .
ESCORTS TRACTOR SALES UP BY 23% IN AUGUST - Escorts' Agri Machinery Segment in August 2017 sold 4,587 tractors, registering a growth of 23% as against 3,722 tractors in August 2016, showed the data released by the company. Escorts was trading at Rs 668.25 per share, up by Rs 21.75 or 3.36% as at 1208 hours on Friday, on the BSE. The stock hit an intraday high and low of Rs 668.50 and Rs 643.60, respectively. It attracted a traded volume of 15,34,994 shares and traded value of Rs 10,079.23 lakh on the NSE. The company had hit its 52-week high of Rs 767.55 on June 6, 2017, and 52-week low of Rs 270 on November 22, 2016, on the NSE.
TVS MOTOR TOTAL SALES UP 16% IN AUGUST - TVS Motor Company registered a sales growth of 16%. Sales increased to 3,17,563 units in the month of August 2017 as against 2,74,303 units in August 2016, said the company.
DR. REDDY’S LAB SETTLES PATENT LITIGATION WITH VIVUS INC - Dr. Reddy’s Laboratories and Nasdaq-listed Vivus Inc has entered into a settlement agreement to resolve a long pending patent litigation related to weight management capsule Qsymia, reported a leading business daily. The litigation, pending since 2015, resulted from the submission of an abbreviated new drug application by Dr. Reddy’s seeking approval to market generic versions of Qsymia. The settlement permits Dr. Reddy’s Laboratories to begin selling a generic version of Qsymia from June 2025, or earlier under certain circumstances. In the event of an early launch, Vivus will receive a royalty on sales of the generic version of the drug. Qsymia capsules CIV is used to manage chronic overweight in adults with obesity symptoms. This settlement concludes all patent litigation brought by Vivus against generic pharma companies that have filed ANDA’s seeking approval to market generic versions of Qsymia.
CENTRE TO SPEND RS 2 LAKH CRORE FOR INFRASTRUCTURE IN RAJASTHAN: GADKARI - Minister of Road Transport and Highways Nitin Gadkari announced that the centre plans to spend Rs 2 lakh crores in the next 5 years for building National Highways in the Rajasthan. The Minister said while speaking at the inauguration of various road projects in Rajasthan on Tuesday along with Prime Minister Narendra Modi. Gadkari pointed out that the state of Rajasthan had just 7,498 km of National Highways till June 2014. This length has nearly doubled to 14,465 km in the last three years under the present government. The number of NH in the state has gone up from just 35 in June 2014 to 85 at present, he said.
INOX WIND INKS PACT WITH ADANI GREEN ENERGY - Inox Wind has closed a deal for developing a 100MW wind power project for Adani Green Energy, a part of the Adani group at Kutch in the state of Gujarat. The capacity was won under the round 1 of SECl bids for wind power projects connected to the central grid, the company said in a filing to the bourses. The project is scheduled to be executed over the next 6-9 months and will be executed on a turnkey basis. Inox Wind will supply, erect and commission its advances 2MW wind turbine generators of 120m hub height and 113 rotor diameter. As a part of the turnkey order, Inox Wind will be responsible for development and construction to commissioning and will provide long term operations and maintenance services. Inox Wind is an integrated wind energy solutions provider. The company is engaged in the manufacture of Wind Turbine Generators. The company provides engineering, procurement and commissioning, operations and maintenance, and common infrastructure facilities services for Wind Turbine Generators
LIC INCREASES STAKE IN NTPC TO 14.25% - Life Insurance Corporation of India now commands 14.24% stake in NTPC, a day after the government raised about Rs 9,100 crore by selling 7% stake via an offer-for-sales. LIC has increased its stake from 11.15% to 14.24%. Based on the floor price of Rs 168, LIC’s investment stands at around Rs 4,275 crore, which is nearly half of the total amount raised by the government. LIC acquired 25.44 crore shares or 3.08% of the total paid up capital of the company. The OFS received bids for 54.8 crore shares, against 82.4 crore shares on offer including the green shoe option. Government’s shareholding in NTPC is expected to have come down to 63.1% from 69.74% post the OFS. The government expects to raise Rs 72,500 crore in FY18 through a mix of minority stake sale, strategic divestments and through the listing of state-owned companies. NHPC, HCL, NBCC, MOIL, and BEL were among the companies in which the government sold stakes. NTPC is engaged in the generation and sale of electricity. The principal business activity of the company is the electric power generation by coal-based thermal power plant. The company has an installed capacity of 47,178 megawatts , including joint ventures with over 18 coal-based, seven gas-based stations and one hydro -based station.
ABB INDIA TO INSTALL SOLAR INVERTERS AT 750 RAILWAY STATIONS - ABB India announced that it will provide solar inverters at 750 railway stations in North India to reduce dependence on traditional sources of energy. The 750 stations are located in the busy northern Indian part of the network, one of the most used railway corridors in the world. ABB reached a milestone of 5 GW of solar inverters installed, supplying some 40% of India’s solar power at approximately 13 GW, recently. Solar inverters for this project vary between 5kW to 50kW in performance depending on the size of the station part of the ABB AbilityTM of connected solutions, the customer can ensure uptime through remote management services. They will be part of the solar installations being set up by Azure Power. ABB set up its solar inverter manufacturing facility in India in 2012 and contributes to approximately 40% of the country’s solar installations. ABB solar inverters have been widely used in the transportation sector, deployed, for instance, in the world’s first fully solar powered airport in Kochi.
BSNL TO ESTABLISH 1 LAKH WI-FI SPOTS BY MARCH 2019 - The state-owned telecom firm Bharat Sanchar Nigam Limited will set up 1 lakh Wi-Fi spots across India by March 2019, said Anupam Shrivastava, Chairman and Managing Director of BSNL.
ORISSA MINERALS SIGNS DEAL TO DEVELOP BRAHAMANI COAL BLOCK - Orissa Minerals Development Company has signed Coal Block Development and Production agreement with the Ministry of Coal. The stock of the company zoomed over 18% during Tuesday’s trade on the BSE. Orissa Minerals Development Company was trading at Rs 1,924.20 per share, up by Rs 249.05 or 14.87% as at 1510 hours on Tuesday, on the BSE. The stock witnessed a spurt in volume by more than 3.08 times. The stock attracted a traded volume of 56,494 shares and traded value of Rs 1,082.88 lakh on the NSE.
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