Category: 阿拉爱上海

Sensex, Nifty snap 4-day gaining streak, Bank Nifty hits record closing high; check support for F&O expiry day

Posted on by

BSE Sensex and NSE Nifty 50 snapped a 4-day gaining streak on Wednesday, one day before weekly F&O expiry. BSE Sensex settled 224 points or 0.4 per cent down at 60,347, while NSE Nifty 50 fell 66 points or 0.4 per cent to finish trade at 18004. Nifty Bank index ended at record closing high of 41405.40. Stocks of index heavyweights such as Infosys, Reliance Industries (RIL), Tata Consultancy Services (TCS), L&T, and HCL Technology, among others contributed the most to the indices’ fall. Broader market too fell in today’s trade. S&P BSE MidCap index fell 27 points to settle at 26,225, while S&P BSE SmallCap index ended at 29,892. India VIX, the volatility index, surged 4.6 per cent to 18.28 levels.

Also read: Why ArcelorMittal, other metal giants are shutting factories amid Europe energy crisis; here’s what lies ahead

Following the weak cues from the US markets, Nifty opened gap down on Sept 14, but showed remarkable recovery to wipe off all losses by 1335 Hrs. Late profit taking pulled down the Nifty from intra day highs. At close, Nifty was down 0.37% or 66.3 points at 18003.8. Indian markets fell the least in the Asian region. India’s wholesale inflation fell to the lowest since September last year, led by a broad-based decline in prices of most commodities. Inflation—as measured by the Wholesale Price Index—stood at 12.4% in August compared with 13.9% in July 2022 and 11.64% in August 2021. Nifty recovered very well from the morning lows but succumbed to afternoon selling. It faced resistance from the high of the previous day. Now 18088-18092 could be the resistance for the near term while 17765 could be the support. Broader market is showing the first signs of distribution.

Also read: India’s WPI inflation eases to 12.41% in Aug, wholesale price remains in double digits for 17-months straight

Rupak De, Senior Technical Analyst, LKP Securities

Nifty remained above its previous consolidation as the global sell-off failed to pull the Indian equities down. On the lower end, the falling trend line has acted as crucial support for the Nifty. Besides, the index has been sustaining above the 50 exponential moving average on the daily timeframe, confirming an uptrend. Going forward, the trend will likely remain positive as long as it remains above 17700. On the higher end, the index may move towards 18600 once it provides a decisive breakout above 18100.

Bank Nifty continued to remain strong as it settled 1.3% on the day of global sell off. On the daily chart, the index remained above the previous swing high. The momentum indicator RSI is in bullish crossover. Going forward, the trend is likely to remain positive as long as it remains above 41000. On the higher end, the index may move towards 42000.

Vinod Nair, Head of Research, Geojit Financial Services

Although the opening hours of the domestic market mirrored the sharp sell-off in the global market, it steadily recovered as investors gained the confidence to bottom fish, thanks to the brighter prospects for the home economy. The expectation that the Fed would become less hawkish, which had spurred the most recent global rally, was dashed by worse than anticipated US inflation figures. Additionally, India’s easing WPI inflation numbers added more optimism with banking stocks leading the recovery, while the IT sector’s performance was bleak due to recession fears in western markets

Rupee declines by 42 paise to 81.82 against dollar on spike in crude oil 

Posted on by

The rupee fell by 42 paise to close at 81.82 against the US dollar on Monday, snapping its two-session gaining streak as heavy selling in domestic equities and a spike in crude oil prices weighed on the local unit.Besides, a stronger greenback against key rivals and weak macro data put pressure on the domestic currency, forex dealers said.

At the interbank foreign exchange market, the local currency opened weak at 81.65, fell further to 81.98 against the American currency. It finally ended at 81.82, down 42 paise over its previous close. In the previous session, the rupee settled at 81.40 against the greenback.

“Indian rupee depreciated by 0.51% today on weak domestic markets and surge in crude oil prices. Disappointing macroeconomic data also weighed on Rupee,” Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas, said.India’s Manufacturing PMI slipped to 55.1 in September, trailing estimates of 55.80 and previous month’s reading of 56.2.The rupee started the month on the back foot following higher crude oil prices and sour risk sentiments. However, the volatility and volumes remained lower amid the holiday truncated week.

ALSO READ Rupee likely to consolidate in near-term, may fall to 83 level, if 82 breached amid global uncertainty

In the near term, spot USD/INR is expected to trade in the range of 82.30 to 81.10 with bias remaining on the bullish side, Dilip Parmar, Research Analyst, HDFC Securities, said.On the domestic equity market front, the 30-share BSE Sensex dropped 638.11 points or 1.11 per cent to end at 56,788.81, while the broader NSE Nifty fell 207 points or 1.21 per cent to 16,887.35.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.30 per cent to 112.45.Global oil benchmark Brent crude futures surged 4.12 per cent to USD 88.65 per barrel.

Foreign institutional investors were net buyers in the capital market on Monday as they bought shares worth Rs 590.58 crore, as per exchange data.After infusing funds in the last two months, foreign investors turned sellers again in September and pulled out Rs 7,600 crore from the Indian equity markets amid a hawkish stance by the US Fed and sharp depreciation in the rupee.

Two stocks to buy for near-term gains; charts signal upside potential as Sensex, Nifty fall

Posted on by

By Nagaraj Shetti

After showing consistent upmove over the last ten sessions, Nifty halted its upside momentum on Wednesday and shifted into a profit booking mode amidst a volatility and closed the day lower by 53 points.  After opening on a slightly positive note on Wednesday, the market has shifted into a range move with weak bias in the early to mid-part of the session. The weakness got intensified in the mid part on the volatile global cues and Nifty shifted into a firm upside recovery in the mid to later part of the session.

A reasonable negative candle was formed with lower shadow on the daily chart, beside the positive candle of Tuesday. Technically, this pattern indicate minor profit booking at the new swing highs. Though, Nifty declined on Wednesday, the uptrend status of the market remains intact and there is no formation of any significant reversal pattern at the highs.

The Nifty has been sustaining above the immediate support of 10 period EMA for the last 50 sessions, except two days of high volatility (21st and 22nd Dec 20) as per daily timeframe chart. Presently, this moving average is offering support at 13970 levels and this area is going to be crucial for the short term trend reversal.

Conclusion: Wednesday’s decline with volatility could be a minor profit booking in the market at the new highs. The underlying short term uptrend remains intact and we are likely to see buying emerging in the coming sessions. Important lower supports to be watched at 13970 and the next upside resistance is at 14310.

Stock Picks:

Buy Bata India Ltd – (CMP Rs 1658.95) After showing sideways range movement in the last few weeks, the stock price (Bata India Ltd) has witnessed upmove above the upper range at Rs 1620 levels on Wednesday and closed higher. This pattern could be considered as a crucial upside breakout of the range and this could have sharp positive impact on the stock price in near term. We observe positive chart pattern like higher highs and lows, which signal a strength of an uptrend. Volume and weekly RSI indicate further upside potential for the stock price ahead.

Buying can be initiated in Bata India Ltd at CMP (1658.95), add more on dips down to Rs 1600, wait for the upside target of Rs 1830 in the next 3-4 weeks. Place a stoploss of Rs 1570.

Buy Ajanta Pharma Ltd – (CMP Rs 1695) The stock price has been moving in a larger consolidation pattern over the last few months. We observe a formation of symmetrical triangle pattern and the stock price is making attempt to break above this triangle pattern at Rs 1725 levels. Hence, a sustainable move above this area could open a sharp upside for the near term. Weekly 14 period RSI has sustained above 60 levels and the volume has started to expand during upmove in the stock price. This is positive indication and signal more upside in the coming weeks.

Buying can be initiated in Ajanta Pharma Ltd at CMP (1695), add more on dips down to Rs 1625, wait for the upside target of Rs 1875 in the next 3-4 weeks. Place a stoploss of Rs 1595.

(Nagaraj Shetti is a Technical Research Analyst at HDFC Securities. Views expressed are the author’s own. Please consult your financial advisor before investing.)

Airox Technologies files Rs 750-cr IPO papers with Sebi

Posted on by

Medical equipment manufacturer Airox Technologies has filed preliminary papers with capital markets regulator Sebi to raise Rs 750 crore through an initial public offering (IPO). The IPO is entirely an offer-for-sale (OFS) of equity shares by promoters — Sanjay Bharatkumar Jaiswal and Ashima Sanjay Jaiswal, according to the draft red herring prospectus (DRHP).

Under the OFS, Sanjay and Ashima will offload equity shares worth Rs 525 crore and Rs 225 crore respectively. Airox Technologies, manufacturer of (Pressure swing adsorption) oxygen generator, has a market share of 50-55 per cent, in terms of operational private hospital PSA medical oxygen market, as of fiscal 2022, according to the draft papers.

The company facilitates the penetration of on-premise PSA (Pressure swing adsorption) oxygen generators in Indian hospitals with nearly 872 installed and operational PSA oxygen generators, as of March 2022. PSA oxygen generators are the equipment that produce oxygen with purity using adsorbents to remove nitrogen gas from the air. These equipment provide a stable supply of oxygen at a lower cost than other traditional medical oxygen procurement methods.

Also read| Harsha Engineers premium listing on BSE, NSE: Shares end 47% up from IPO price even as Sensex, Nifty fall 2%

Demand for medical oxygen is expected to grow at a Compound Annual Growth Rate (CAGR) of 7-8 per cent from fiscal 2020 to fiscal 2027 in terms of volume, the draft papers said citing a Crisil report. Over 80 per cent of the hospitals in India procure medical oxygen through cylinders. More than half of the demand of medical oxygen is expected to be met through PSA method by fiscal 2027, it added. JM Financial and ICICI Securities are the book running lead managers to the issue.

BPSC releases Teacher Recruitment Exam cut-off list today on bpsc.bih.nic.in, check steps and more details

Posted on by

The cut-off list for the Bihar Teacher Recruitment Exam 2023 conducted by the Bihar Public Service Commission (BPSC) has been released on the official website, bpsc.bih.nic.in. Candidates who have completed the exam can review the class 1–5 cut-off marks, class 9–10, and class 11–12 cut-off marks for school teachers.

In addition to the cutoff lists, the website has also posted a list of candidates who did not make the merit list because they were absent for document verification, had their documents not be validated, had not completed the required language paper, or had not received the required score.

Take the following actions to view your BPSC School Teacher Result 2023:

Step 1: Open bpsc.bih.nic.in, the official website, and wait for the home page to load.

Step 2: To continue, locate the “Bihar TRE Result 2023” link and click on it.

Step 3: Enter your application number and password to log in on the following screen.

Step 4: You may view your marks after logging in.

Step 5: Save the scorecard to your files by downloading it from the portal.

Step 6: To find out if you qualify, compare your results to the cutoff values.

For the purpose of filling 170,000 primary, postgraduate, and trained graduate teacher positions, the Bihar Public Service Commission posted a recruitment notice. The written exam took place offline on August 24-26, 2023, and applications submitted online were approved.

Hindustan Unilever vs Nestle India; Nestle to outperform HUL in long term

Posted on by

We believe Nestle may potentially outperform HUL in long term driven by multiple favourable factors (both extrinsic and intrinsic). In Nestle, we like penetration-led volume growth on the back of rural expansion among peers. There is lower threat from D2C (direct-to-consumer) brands given the inherent challenges in scaling up in Foods category. There is opportunity to bring more from global portfolio in true long term.

Nestle India has relatively lower salience from rural areas (20%; one of the lowest in our coverage) compared to HUL which has been a pioneer in driving penetration-led growth in rural areas through smaller packs and brand architecture. We note that rural regions are one of the large drivers of volumes for most of the FMCG companies.

We believe Nestle through its strategy will likely drive rural penetration for its products leading to volume growth.

HUL on the other hand has been a pioneer over the last few years in driving penetration-led volume growth through its LUP ( low unit packs) strategy and multi-brand architecture. We believe HUL will likely have premiumisation led growth as it has already achieved high penetration for some of its products, and (material) growth going forward will be through upgrading consumer to a premium brand. However, HUL will also likely continue to gain penetration-led growth as consumer shift away from unorganised segment, we believe that benefit will be lower for HUL compared to Nestle India.

Nestle India is present in food categories while HUL is present in home care, beauty and personal care (BPC) and foods. We believe, D2C brands have higher presence in BPC categories compared to food categories.

Nestle India currently operates in 4 categories out of 7 categories where Nestle SA (parent company) is present. Therefore, Nestle India does not need to look for inorganic opportunities as it can always get some of the brands from the parent to India as and when Nestle feels that there is opportunity in that particular category.

On the other hand, HUL is largely present in the (relevant) categories where Unilever (parent company) is present. Also, HUL has been active in acquiring companies in India in categories like health food drinks (GSK Consumer – Horlicks, Boost etc.), Ice Creams (Aditya Milk), Ayurvedic Hair Oil (Indulekha), Female Hygiene (VWash) etc.

Nestle India has one of the lowest salience of rural revenues amongst its peers. It is continuously expanding reach into smaller cities and rural areas. It has a target to expand into ~120,000 villages by CY24. We value stocks on DCF except Adani Wilmar, Godrej Cons. and Tata Cons. which we value on SoTP basis. Key upside risk is better-than-expected gross margins due to correction in input prices. Key downside risk is unexpected irrational competition due to deceleration in general consumption demand.

Rupee likely to consolidate in near-term, may fall to 83 level, if 82 breached amid global uncertainty

Posted on by

By Dilip Parmar

King dollar flattening everything right now, causing issues for everywhere and everyone except America. Printing dollars over the years has given the US “exorbitant privilege” and it is “our currency and your problem” (to quote President Richard Nixon’s treasury secretary, John Connally). That means that for now at least, it’s not America’s problem and the surge in the greenback is unlikely to end soon. The US dollar is stronger than ever and pierced to two decades high. With the risk of economic damage spreading from Tokyo to London, they have been drawn into the fight to prop up their currencies. Globally central banks adopted the idea of a coordinated monetary tightening path to control inflation. Federal Reserve Chair Powell’s only focus is to fight against inflation at home and to achieve a pivot at the earliest to supercharge the king dollar. 

High-interest rates and the comfort of feeling safer money in dollar assets are helping the greenback. At first sight, the country welcomes a weaker currency against exporting currency which tends to stimulate growth by making export more competitive while nations likely India whose trades are imbalanced feel the heat of higher inflation and lower exports. The weaker currency makes the import costlier while fear of recession reduces the exports. While from the US Fed’s perspective, a stronger dollar actually helps fight inflation as it allows cheap imports but curbs growth.

Curtailing inflation, the Federal Reserve has raised its benchmark interest rate from near zero to above 3% in record time. And at its most recent meeting, on Sept.21, the central bank projected it would add an additional one and a half percentage points in the coming months-promptly sending risk markets into a nosedive, short-term bond yields and the haven dollar to a multi-year high.

A weaker currency is forcing RBI to be with the curve and increasing interest rates and intervening by selling the dollar, which risks driving economies into slower growth. India’s central bank raised the repurchase rate by 50 basis points to 5.90%. The RBI trimmed the economic growth outlook for the financial year ending March to 7% while retaining its 6.7% forecast for inflation. Retaining the “withdrawal of accommodation” stance clearly indicates that policy rates have not yet peaked and a 35 bps hike in December and a quarter point move in February. 

Also Read: Petrol, Diesel Price Today, 3 Oct 2022: Fuel cost static; check rates in Delhi, Mumbai, Noida, other cities

Looking at the global uncertainty and tighter liquidity, the rupee is expected to trade left in the medium term while in the shorter term it could consolidate in the range. Spot USDINR is having a line on sand at 82 and crossing of it will pave way for 83 and more while on the lower side

80.70 acts as a support line.

(Dilip Parmar, Research Analyst, HDFC Securities. Views expressed are the author’s own.)

Benchmark yields to remain in 7.25-7.5% band

Posted on by

Bond markets rallied after the Reserve Bank of India’s announcement of a 50-basis-points hike in the repo rate, but the yield on the benchmark bond closed Friday’s session at 7.3984%, up 5 basis points over the previous close.

Nevertheless, the yields have fallen five basis points in the current quarter, after rising by an aggregate of 140 basis points in the last four quarters. Most money market experts expect the yield on the benchmark to trade between 7.25% and 7.5% in the next couple of months. The government announced its borrowing calendar for H2FY23 on Thursday and said it would borrow Rs 10,000 crore less than planned – it will now borrow Rs 14.21 trillion in FY23. The markets believe that the government will not slip on its fiscal deficit targets despite higher expenses on fertiliser and other subsidies, and would save on revenue expenditure.

Suyash Choudhary, head, fixed income, HDFC, said he expects the repo rate to peak at 6.15 – 6.25% in this cycle with the final hike likely in the upcoming December policy. “This is higher than our earlier expectation of 6% and reflects changes to DM rate forecasts by a very sharp extent lately, something that we weren’t expecting earlier,” Choudhary said.

Meanwhile, the RBI reassured the markets there was no deficit of liquidity in the system. RBI governor Shaktikanta Das said surplus liquidity in the banking system had moderated to Rs 2.3 trillion during August-September 2022 (up to September 28) from Rs 3.8 trillion in June-July. Das said the liquidity situation is expected to ease, with the government starting to spend again. The government’s cash balances with the RBI are estimated at Rs 3.75 trillion.

“Furthermore, drawdown of excess cash reserve ratio (CRR) and excess statutory liquidity ratio (SLR) holdings of banks can also augment the system liquidity,” Das said.

“The RBI believes that the liquidity shortage is temporary. This should ease with the government spending coming back in the second half of the year,” a senior banker said. He added that the merging of 14-day and 28-day variable rate reverse repo auctions should help the liquidity situation to a small extent.

Adani Group, Dish TV, Natco Pharma, Bombay Dyeing, CEAT stocks in focus on 20 September

Posted on by

Indian benchmark indices BSE Sensex, NSE Nifty 50 are likely to open higher on Tuesday, hinted SGX Nifty. The Nifty futures traded 120 pts or 0.7 per cent higher on the Singapore Exchange, signalling that domestic equity markets were headed for a positive start. “We expect choppiness to continue amid the feeble global cues so it’s prudent to place positions on both sides. Banking and financials are doing well on the expected lines and we’re seeing selective buying in auto and FMCG also on dips. On the flip side, mostly stocks from the IT and pharma space trading with a negative bias. Participants should align their positions accordingly,” said Ajit Mishra, VP – Research, Religare Broking.

Stocks in focus on 20 September, Tuesday

Adani Group: Adani Group, which last week completed its $6.5-billion acquisition of Swiss major Holcim’s India assets – Ambuja Cements and ACC, plans to double its cement manufacturing capacity to 140 million tonne in the next five years and emerge as the most profitable manufacturer in the country. In a speech made at an event to mark the completion of the acquisition, Adani Group chairman Gautam Adani said he saw a multifold rise in cement demand in the country on the back of record-breaking economic growth and the government’s infrastructure creation push, which will give significant margin expansion.

Adani Enterprises: Adani Group’s flagship company Adani Enterprises on Monday raised Rs 100 crore by allotment of non-convertible debentures on a private placement basis. Adani Enterprises shares witnessed positive sentiment today and the shares climbed by nearly 3%. The said MLD will be listed on the Wholesale Debt Market segment of BSE. The debentures have a face value of ₹10 lakh each.

Dish TV: Satellite service provider Dish TV India’s chairman Jawahar Lal Goel has resigned as a director effective Monday, weeks after he had expressed his unwillingness to seek reappointment. Goel has resigned from the company’s board of directors and committees. Consequently, he ceases to be the chairman of the board. His resignation comes ahead of the company’s annual general meeting (AGM) on September 26, when Goel was slated to step down from the board.

Bombay Dyeing and Manufacturing Company: The company said the board of directors on September 22 will consider a proposal of raising of funds by issue of equity shares on rights basis.

TV18 Broadcast: Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In a tweet, CCI said it has approved amalgamation of the Jio Cinema OTT platform with Viacom18 Media. In April, Reliance and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India.

Ceat: The company said the Board of Directors has allotted non-convertible debentures (NCDs) on a private placement basis aggregating to Rs 150 crore.

Also Read: Harsha Engineers IPO share allotment: Check grey market premium, status via BSE, registrar; listing on 26 Sep

Natco Pharma: The pharma company is allowed to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process. It has received order from the Delhi High Court to launch the same. CTPR technical is formulated into broadspectrum insecticides used across wide range of crops for pest management. The company estimates the current market size of CTPR containing products in India to be over Rs 2,000 crore.

MediaAvataar India unveils new brand identity

Posted on by

MediaAvataar India begins rolling out an all-new homepage and a refreshed mobile version that offers readers a cleaner and more dynamic reading experience.

MediaAvataar India, an online news media publication in the media, marketing, and advertising landscape in India and the APAC region has unveiled its new visual identity, signifying a chapter of growth.

In addition to a refreshed desktop webpage, the mobile version of MediaAvataarME.com will also have a headline-first display and top loading speeds and responsiveness.

Initial elements of Media-Avataar India’s brand evolution include a new logo and new brand colours and certainly reflect the process of experimentation.

Follow us onTwitter,Instagram,LinkedIn,Facebook