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2nd Feb , 2011 Morning Wealth
BP WEALTH
Monday,18th May, 2015
Nifty Futures
Resistance
Support
Indices (NSE)
Level 1
8,280
8,200
Close
Level 2
Level 3
8,330
8,380
8,140
8,080
Pts. Chg
% Chg
Intraday Nifty Outlook
Index has formed a small bodied doji candlestick, presence of such a candlestick highlights indecisiveness in the trader sentiment. Price has managed a
close above its 5 day exponential moving average. Moving forward a close
above 38.2% retracement resistance of the previous fall from 8874 to the trough
of 8021 will ensure the resumption of the uptrend. Going ahead a sustenance
above 8280 will open the way for 8330-8380 while support comes at 82008140.
Nifty
8,262.4
38.1
0.5
Nifty Future (May
8,261.2
23.4
0.3
Nifty Future (June)
8,286.3
21.5
0.3
Corporate News
18,183.2
67.0
0.4
CNX100
8,342.3
37.0
0.4
CNX500
6,827.1
30.3
0.4
CNX Midcap
12,971.8
38.6
0.3
Indices (BSE)
Close
Sensex
27,324.0
117.9
0.4
Tata Steel nears UK plants sale: Report
An American tycoon is reportedly in last-minute talks to seal a takeover of Tata
Steel's UK steel works amid a supply imbalance facing the global steel industry.
Switzerland-based commodities magnate Gary Klesch is trying to finalise a deal
to buy the UK section of Tata's "long products" unit, The Sunday Times reported. The unit has about 6,500 staff and steel plants in Scunthorpe, Teesside,
Dalzell and Clydebridge in Scotland, and also France and Germany. The Scunthorpe site in northern England, under discussion as part of the agreement, is
the largest of all. The Tata group last week wrote down the value of the longsteels division to zero, with a £500-million provision, paving the way for the
sale. It blamed the writedown on the "supply imbalance facing the global steel
industry". The division has struggled amid stagnant European construction markets. Sources told the newspaper that Tata and Klesch are in talks this weekend to finalise the deal, announced last autumn. The tycoon set up Klesch
Group in 1990, growing it into a ^5-billion empire spanning chemicals, metals
and oil. (Source: Business Standard)
BSE-100
8,400.8
32.3
0.4
BSE-200
3,465.6
14.3
0.4
BSE-500
10,815.6
45.5
0.4
Mid Cap
10563.9
37.0
0.4
Small Cap
11,040.8
68.5
0.6
Sectoral Indices
Close
BANKEX
20,913.9
91.4
0.4
CAPITAL GOODS
REALTY
POWER
OIL & GAS
METAL
16,219.7
1,541.1
2,033.7
9,320.9
9,883.5
85.4
-20.7
-5.1
-5.7
-105.0
0.5
-1.3
-0.2
-0.1
-1.1
CD
10,177.0
82.1
0.8
AUTO
19,077.2
112.6
0.6
TECK
5,879.6
40.4
0.7
10,578.0
7,791.8
16,537.6
19.8
68.5
51.8
106.0
-0.9
0.7
0.7
0.6
-4.5
Bank Nifty
IT
FMCG
HEALTHCARE
VIX
Exchange
Advance
Pts. Chg
Pts. Chg
Decline
% Chg
% Chg
Unchg
BSE
1,455
1,248
101
NSE
821
660
93
Volume
Rs (in cr)
NSE Cash
BSE Cash
NSE F&O
Net Inflows/
Outflows (Rs in cr)
FII
DII
Buy
3,595.5
1,799.8
% Chg
15,493.7
-3.5
2,376.2
1,87,152.5
-11.0
-13.7
Sell
3,633.8
1,236.2
Net
-38.3
563.6
IL&FS bags $1-billion funding from Industrial & Commercial Bank of china
Infrastructure Leasing & Financial Services (IL& FS) Group has raised $1 billion
of financial support from Industrial and Commercial Bank of China, signifying
increased collaboration between the two nations. The financial support has
come amid Prime Minister Narendra Modi's visit to China. Funds raised will be
used toward infrastructure-related financing in India. In another agreement,
IL&FS Energy Development Co., asubsidiary of IL&FS, will develop, implement
and operate a 3,960 Mw coal-based coastal power project in KutchBSE 4.96 %,
Gujarat, with China Huaneng Group. The thermal power project is part of a special economic zone (SEZ). "It provides a clear signal to the international community of India's growing attraction as an investment destination," said IL& FS
managing director Ramesh Bawa. "This was a momentous occasion for IL&FS.
The spirit of cooperation between the countries has meant that a defined development path can be put in place for the strategic objective of supporting infrastructure development." India has signed trade and economic cooperation deals
worth $22 billion with China as part of the Prime Minister's visit. A large part of
this relates to Chinese banks financing Indian firms and deals in telecom, steel,
solar energy and film sectors. (Source: Economic Times)
Airtel raises $2.5 billion from Chinese banks to expand data networks
Bharti AirtelBSE 1.80 % on Saturday signed agreements to raise up to $2.5
billion from China Development Bank and Industrial and Commercial Bank of
China. The company will invest these funds in growth of data networks across
its global operations. In addition, these financing options will allow the company
to diversify its global financing pool. Subject to final agreements and the requisite approvals, Bharti Airtel can draw these funds over a long availability period,
depending on its requirements. Airtel inked the term sheets for the financing
options in the presence of Prime Minister Narendra Modi during his visit to
China. China Development Bank has committed financing of up to $2 billion
with an average maturity of about nine years. This is the single largest bilateral
commitment by China Development Bank to a telecom operator globally and
the largest bilateral commitment to a private Indian company. (Source: Economic Times)
Dena Bank net down 70%
Owing to a fall in net interest income (NII), state-run Dena Bank's net profit declined by 70 per cent to Rs 56 crore in the fourth quarter ended March 31, 2015
on a year-on-year (y-o-y) basis. Net profit in the year-ago quarter was Rs 127
crore. The fall in NII - from Rs 614 crore to Rs 609 crore, was due to tepid
growth in credit and reversal of interest income for bad loans. (Source: Business Standard)
GVK PIL Q4 net loss down at Rs 108.66 crore
Hyderabad-based GVK Power and Infrastructure Limited has reported a consolidated net loss of Rs 108.66 crore for the quarter ended March, 2014, a
steep decline compared to a net loss of Rs 235.46 crore in the corresponding
quarter last year. The total expenditure has come down by 9.32 per cent to Rs
634.22 crore from Rs 699.39 crore in the corresponding previous quarter. The
GVK Power continued to face losses on account of uncertainties in power generation as a substantial portion of installed capacity of remain stranded for want
of gas. However, the company was able to substantially reduce the quantum of
losses from power sector operations during the quarter while revenues from the
airport operations-both Bangalore and Mumbai international airports- saw a
23.62 per cent rise in revenues contributing Rs 219.36 crore to the gross profits.
(Source: Business Standard)
BP WEALTH
Morning Wealth
Economy
Nifty Top 5 Gainers
Close
LUPIN
Pts. Chg
% Chg
1,684.3
52.3
3.2
SBIN
287.5
6.5
2.3
INDUSINDBK
833.4
16.7
2.0
HDFC
1,234.3
24.6
2.0
M&M
1,249.1
21.9
1.8
Nifty Top 5 Losers
Close
Pts. Chg
% Chg
BANKBARODA
160.2
-4.4
-2.7
PNB
147.4
-3.2
-2.1
NTPC
136.1
-3.0
-2.1
VEDL
210.4
-4.4
-2.1
HCLTECH
913.9
-11.4
-1.2
Int. Indices
S&P 500
Close
Pts. Chg
% Chg
2,122.7
1.6
0.
18,272.6
20.3
0.1
NASDAQ
5,048.3
-2.5
0.0
FTSE
6,960.5
-12.6
-0.2
DAX
11,447.0
-112.8
-1.0
CAC
4,993.8
-35.5
-0.7
Nikkie
19,732.9
162.7
0.8
Hangseng
27,822.3
535.7
1.9
3,463.1
7.3
0.2
DOW
Straits Times
ADR
Close
HDFC Bank
ICICI Bank
Infosys
TATA Motors
Wipro
Currencies
58.1
10.5
31.1
42.4
11.5
Close
Pts. Chg
0.6
-0.0
0.4
0.2
-0.0
Pts. Chg
% Chg
1.0
-0.3
1.2
0.4
-0.2
International News
Asian Stocks Track U.S. Share Gains as Weak Data Spur Fed Bets
Asian stocks rose for a second day, following gains in U.S. shares as weakerthan-expected economic data spurred bets the Federal Reserve won’t rush to
raise interest rates. The MSCI Asia Pacific Index added 0.1 percent to 153.37 as
of 9:06 a.m. in Tokyo after rising 1.4 percent last week. The Standard & Poor’s
500 Index extended a record Friday after data showed an unexpected drop in
consumer confidence. Equities rose last week after selling that erased $400 billion from fixed-income markets subsided. “The size of the decline in consumer
confidence is pushing back estimates for a U.S. interest-rate hike to December,”
said Shoji Hirakawa, chief equity strategist at Okasan Securities Co. in Tokyo.
“That’s beneficial for stock valuations.” E-mini futures on the Standard & Poor’s
500 Index slid 0.1 percent. Greek banks are running short on the collateral they
need to stay alive, a crisis that could help force Prime Minister Alexis Tsipras’s
hand after weeks of brinkmanship with creditors. In a worst-case scenario, that
lifeline will be maxed out within three weeks, pushing banks toward insolvency,
some economists say. Tsipras said as recently as May 14 that he won’t compromise on any of his key demands. Oil fell for a third day in New York, its longest
losing streak since March, amid concern the market’s rebound to $60 a barrel will
encourage production and sustain a global supply glut. “Given the uncertainties
around the bond selloff, the Fed’s eventual move to tightening and Greece, the
next few months could remain volatile for shares,” said Shane Oliver, Sydneybased head of investment strategy at AMP Capital Investors Ltd., which manages A$160.5 billion ($129 billion). “In anticipation of a correction in bonds and
shares we have been running a higher than normal cash allocation and see recent moves as setting up investment opportunities.” (Source: Bloomberg)
% Chg
Dollar Index
93.7
0.0
0.0
USD/INR
EURO/INR
USD/YEN
63.5
72.6
119.7
-0.1
0.0
0.3
-0.2
-0.1
0.2
Major Bulk Deal (NSE)
Scrip Name
Qty
Type
Client Name
Trade Price
NO MAJOR BULK DEAL
Major Bulk Deal (BSE)
Commodities
Close
Gold (spot) Rs
27,463.0
29.0
0.1
Scrip Name
Qty
Type
Client Name
Trade Price
Silver (spot) Rs
39,951.0
207.0
0.5
MARG
474,577
SELL
ICICI BANK LIMITED
11.75
66.9
0.1
0.2
VIRTUALG
2,300,000
ASIA INVESTMENT
BUY CORPORATION MAURITIUS LIMITED
Crude (Brent) $
Crude Oil (WTI) $
Institutional Research
59.8
Pts. Chg
Banks may get to stake claim on benami property
Banks, which currently find it difficult to recover money from promoters of wilfuldefaulter companies, or other borrowers, might get some relief if the Benami
Transactions (Prohibition) Amendment Bill, recently tabled in the Lok Sabha, is
enacted. This might allow lenders to stake claim to benami properties of defaulters. At present, they have claims only over those properties that have been
held as collateral. Benami properties are the ones held in the name of persons
other than those who are ultimate beneficiaries. Banks' claims to benami properties of borrowers will be heard by an adjudicating authority to be set up under the
proposed Act. "The adjudicating authority, after providing an opportunity of being
heard to the alleged 'benamidar', or the beneficial owner; any interested party,
including a banking company; and any other person who makes a claim in respect of the property; shall pass an order within one year, holding the property to
be a benami property or otherwise," says the Bill, moved in the House on May
13, the last day of the Budget session. These properties could be tangible, such
as real estate and gold, or intangible, such as financial securities. According to
the Bill, the initiating officer, who will be appointed from among assistant or deputy income-tax commissioners, will be authorised to pass an order for provisional
attachment of alleged benami properties. Within 15 days from the date of the
attachment, he will have to draw up a statement of the case and refer it to the
adjudicating authority. Then, the authority will within 30 days ask for documents,
particulars or evidence from banks concerned, or any other interested party.
While the Bill provides for the exact quantum of punishment and penalty for
benami property beneficiaries, it does not give exact details of how the proceeds
from the property are to be shared by banks or other claimants. This will be decided on a case-to-case basis, experts say. The exact process might be defined
under the rules that will come up after the enactment. The proposed Act will provide leverage to banks, which at present struggle to contain their mounting nonperforming assets. The banking sector's asset quality has deteriorated in the past
year, with their gross non-performing asset (GNPA) ratio inching up to 4.45 as on
March 15 this year, compared with 4.1 in March 2014, according to the latest
data released by the Reserve Bank of India (RBI). (Source: Business Standard)
0.2
% Chg
0.3
BP Equities Pvt. Limited (w ww .bpw ealth.com)
BP Equities reports are also available on Bloomberg [BPEP <GO>]
05/18/2015
15
2
BP WEALTH
Morning Wealth
EVENTS CALENDAR
Monday
Tuesday
Wednesday
Thursday
Friday
18-May-2015
19-May-2015
20-May-2015
21-May-2015
22-May-2015
Results – ASIANPAINT,
GLAXO ,AXISCADES.
Results –TATAPOWER
Results - BAJAJFINSV, Results – BAJAJ-AUTO,
BAJFINANCE, TABAJAJHLDNG, ICRA,
TASTEEL,WABCOINDIA TIMEX, BRITANNIA,
VOLTAS ,ALLCARGO
Results – MPHASIS,
WONDERLA, TIMKEN,SBI ,KTKBANK,
MRPL
Economic Indicators–
Economic Indicators -
Economic Indicators–
Economic Indicators–
Economic Indicators–
US–
US–Housing Starts
US– FOMC Minutes
US– Jobless Claims, Ex- US– Consumer Price
isting home Sales
Index
26-May-2015
27-May-2015
25-May-2015
Results - JYOTHYLAB,
LYCOS ,BANCOINDIA
Results –
Results - BATAINDIA,
DISHTV,TECHM,BANKIN GODREJIND, TADIA,BHEL
TACHEM, GAIL
Economic Indicators–
Economic Indicators –
Current account
US–
US–Durable goods order, US–
New home sales
01-June-2015
Economic Indicators–
02-June-2015
03-June-2015
28-May-2015
29-May-2015
Results – 3IINFOTECH,
AMARAJABAT, BAJAJELEC, EDUCOMP,
ONGC, RECLTD,
COALINDIA,TATAGLOBAL
Economic Indicators–
Results – M&M, RELIGARE, GLENMARK, IOC,
SUNPHARMA
US– Jobless Claims
US– GDP
Economic Indicators–
GDP growth rate YOY,
Infrastructure output
04-June-2015
05-June-2015
Results -
Results –,
Results -
Results –
Results –
Economic Indicators–
HSBS manufacturing
PMI
Economic Indicators –
RBI Interest Rate Decision
Economic Indicators–
Economic Indicators–
Economic Indicators–
US–
US–
US–
US– Jobless Claims
US–
Green: Corporate Event, Red: Economic Events, Dark Blue: US Events/ UK Events
(Source: Bloomberg and BSE)
Institutional Research
BP Equities Pvt. Limited (w ww .bpw ealth.com)
BP Equities reports are also available on Bloomberg [BPEP <GO>]
05/18/2015
3
BP WEALTH
Research Desk
Tel: +91 22 61596406
Institutional Sales Desk
Tel: +91 22 61596403/04/05
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