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Tuesday, 13 August 2019

Top buy and sell ideas for short term

The market continued to rally for the second straight session on August 9, helping benchmark indices post their first weekly gains in the last five weeks. The uptrend seen was on the hope of measures to boost economic growth and revive dented sentiment on the FPI front.

The BSE Sensex trimmed gains from 480 points intraday to 254.55 points to close at 37,581.91, taking total weekly gains to over a percent. The Nifty 50 rose 77.20 points to 11,109.70 and formed bullish candle resembling a Shooting Star kind of pattern on daily charts. The index also formed a bullish candle on a weekly scale.

The broader markets also saw buying interest, with the Nifty Midcap index rising a percent on Friday and 1.5 percent for the week.

According to the pivot charts, the key support level is placed at 11,054.5, followed by 10,999.3. If the index starts moving upward, the key resistance levels to watch for out are 11,173.2 and 11,236.7.

The Nifty Bank closed at 28,431.90, up by 321.45 points on August 9. The important pivot level, which will act as crucial support for the index, is placed at 28,254.87, followed by 28,077.83. On the upside, key resistance levels are placed at 28,605.87 and 28,779.83.

Buy Mindtree with stop loss at Rs 740 and target of Rs 770

Buy Aurobindo Pharma with stop loss at Rs 590 and target of Rs 618

Buy Manappuram Finance with stop loss at Rs 119 and target of Rs 131

Sell Tata Motors with stop loss at Rs 125 and target of Rs 117

Buy Bharat Forge with a stop loss of Rs 424 and target of Rs 439

Buy Muthoot Finance with a stop loss of Rs 639.5 and target of Rs 666

Buy Bharat Heavy Electricals with a stop loss of Rs 639.5 and target of Rs 666

Buy Indiabulls Housing Finance with a stop loss of Rs 487 and target of Rs 540

MORE WILL UPDATE SOON!!

Stock picks of the day: 11,000 defended on weekly basis, further relief likely

10:19 Arun Singh No comments Edit

At this juncture, the pragmatic approach would be to take one step at a time and focus more on individual stocks.

Amid global uncertainty, our markets concluded the week with a smart recovery on August 9. Fortunately, we managed to defend the 11,000 mark on a weekly closing basis.

Firstly, the index tested the 61.8 percent retracement level of the previous up move. This point coincided with the '89-EMA' on the weekly chart as well as 161 percent (Golden Ratio) of the recent small up move from 11,108.30 to 12,103.05.

Also, the ‘RSI-Smoothened’ oscillator on a daily chart had reached the lowest level since October 15, 2018.

All these key observations were hinting towards the possibility of some relief from the crucial junction of 10,800.

Hence, we avoided shorting and kept focusing on some probable short-covering candidates. The strategy played out well and we are back above 11,100.

But, the real question lies whether the worst is over or not? In our sense, it would be too early to comment on this and although we have paused near a crucial technical cluster of supports, we need to wait for some further confirmation.

As of now, one should construe this rally as a relief move and going ahead, 11,200 – 11,300 are the levels to watch out for.

If we manage to surpass this wall, the next possible resistance is placed in the zone of 11,450 – 11,500. At this juncture, the pragmatic approach would be to take one step at a time and focus more on individual stocks.

On the lower side, the immediate support is seen around 11,062 – 10,975 and with a broader view, as long as we are defending 10,782 – 10,750, there is no reason to worry for.

Here is a list of top two stocks which could give 4-12 percent return in the next three to four weeks:

Motherson Sumi: Buy| LTP: Rs 107.35| Target: Rs 120| Stop Loss: Rs 99| Upside 12 percent

Last 1-1/2 years have been a challenging period for the auto and auto ancillary stocks. This stock has been experiencing relentless sell-off ever since it reversed after clocking its record high of 258.01 in December 2017.

With extended correction at the midst of the week, the stock retested its 2016 lows of 88.07 and had a sharp recovery to form a ‘Bullish Hammer’ on the daily chart on August 8.

On the following day, we witnessed a sharp short recovering rally of nearly 10 percent which confirms its short term reversal.

Considering the price and volume activity, we expect an extension of this relief move in the coming days. Hence, we recommend buying this counter for a target of Rs 120 and the stop loss should be fixed at Rs 99.

HDFC: Buy| LTP: Rs 2,211.65| Target: Rs 2,285| Stop Loss: Rs 2,175| Upside 4 percent

Since Budget day, we have witnessed a massive correction in some of the marquee names that have shown gravity-defying moves over the past year and a half.

These are the ones which propelled the index beyond the 12,000 mark. HDFC clearly has been one of those handfuls of stocks.

The stock prices retested its previous breakout points and have given a stellar recovery in the week gone by. The daily and the hourly chart looks encouraging and considering the overall price development, we will not be surprised to see this stock extending this relief move.

Thus, traders can look to initiate longs for a target of Rs 2,285 and the stop loss should be fixed at Rs 2,175.

MORE WILL UPDATE SOON!!

Check out the week's top 10 movers and shakers

10:17 Arun Singh 1 comment Edit

The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week.

Indian markets ended on a positive note in the volatile week ended August 9 amid June quarter earnings, RBI monetary policy, and fresh concerns over Sino-US trade worries.

Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) reduced repo rates by another 35 basis points to 5.4 percent in the August Policy review while maintaining an accommodative stance. It now stands at the lowest level since April 2010.

The Sensex gained 463.69 points to end at 37,581.91, while Nifty ended at 11,109.7, up 112.35 points last week.

The S&P BSE Midcap index rose 1.26 percent, Smallcap Index added 1.10 percent and S&P BSE Largecap Index was up 0.68 percent last week.

Here is a list of 10 stocks which moved most in the last week:

Tata Steel | Down 11 percent

Tata Steel has reported a steep 64.3 percent year-on-year (YoY) decline in June quarter profit at Rs 693 crore amid muted revenue growth and subdued operating income.

The profit in the corresponding quarter last year was at Rs 1,940.8 crore. Lower other income (down 29 percent YoY) also impacted the bottom line.

Revenue during the quarter grew by 1.27 percent YoY to Rs 35,947.1 crore, dented by lower domestic and Europe growth. It was supported by Tata Steel BSL (erstwhile Bhushan Steel acquired under NCLT) which showed 105.5 percent growth YoY at Rs 4,332.73 crore in Q1.

Tata Steel India business declined nearly 2 percent to Rs 16,091 crore and Tata Steel Europe revenue fell 11.77 percent to Rs 14,495 crore compared to year-ago.

Endurance Technologies | Down 9 percent

The company's consolidated Q1FY20 net profit rose 32.9 percent at Rs 165.6 crore, against Rs 124.6 crore in the year-ago period. Its revenue grew 2.6 percent at Rs 1,909.2 crore against Rs 1,860.4 crore.

The earnings before interest, tax, depreciation and amortization (EBITDA) rallied 25.8 percent at Rs 341.4 crore. Meanwhile, the margin increased 330 bps at 17.9 percent.

The company's board has decided not to pursue the project of manufacturing of tyres for two- and three-wheelers, as per company release.

HCL Technologies | Up 7 percent

Shares of HCL Technologies rose more than 7 percent as brokerages are maintaining the buy rating on the stock despite the company posting a decline in its Q1 net profit on August 7.

The company reported a 13 percent sequential decline in the June quarter (Q1) profit at Rs 2,220 crore, dented by operating income, but maintained full-year revenue growth guidance.

The profit in the previous quarter was Rs 2,568 crore. The YoY profit fall was 7.6 percent.

Revenue was ahead of estimates at Rs 16,425 crore in the quarter ended June 2019, growing 2.7 percent sequentially and 18.7 percent YoY, the company said in its BSE filing.

Revenue in dollar terms increased 3.8 percent quarter-on-quarter (15 percent YoY) to $2,364 million and the same in constant currency grew by 4.2 percent QoQ (up 17 percent YoY).

BNP Paribas has maintained a buy rating on the stock but cut its target to Rs 1,200 from Rs 1,240 per share. Nomura has maintained buy call on the stock with a target at Rs 1,270 per share.

CLSA has also maintained a buy rating on HCL Technologies with a target at Rs 1,380 per share. However, Jefferies has maintained hold rating on the stock and raised the target to Rs 1,120 from Rs 1,090 per share.

SRF | Up 10 percent

The company registered 42 percent jump in its Q1 profit to Rs 189.2 crore against Rs 133.8 crore in the same quarter last year. Revenue of the company increased by 9 percent at Rs 1,828.4 crore versus Rs 1,676.2 crore.

The board of directors of the company has declared an interim dividend at 70 percent i.e. Rs 7 per share on the paid-up equity share capital of the company.

The board also approved the project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs 424 crore. The proposed capacity addition is 5,000 MTPA by October 31, 2021, with a mix of debt and internal accruals.

Cox & Kings | Down 22 percent

Shares of Cox & Kings touched a 52-week low on payment default of unsecured commercial paper. The company has defaulted on Rs 5 crore payments on unsecured commercial paper due on August 6.

Earlier, the company had defaulted on payment of Rs 100 crore worth unsecured commercial paper due on August 1, 2019, and repayment of Rs 10 crore on commercial papers due on July 29.

Tata Motors | Down 6 percent

Shares of Tata Motors touched a 52-week low after ICRA downgraded the automaker's rating, citing weakening of the financial profile of its British luxury car unit Jaguar Land Rover.

The credit rating agency downgraded Tata Motor's long term loans, long-term fund-based facilities and non-convertible debenture programme to AA- from AA, with the outlook remaining negative.

However, the agency reaffirmed the rating as A1+ on the commercial paper programme and short-term programme.

Coffee Day Enterprises | Down 26 percent

Shares of Coffee Day Enterprises remained under pressure on the sudden death of founder VG Siddhartha on July 29 which raised concerns over the company's corporate governance and financials amid rising debts.

Meanwhile, the Coffee Day Enterprises board, on August 8, appointed Ernst & Young (EY) to inspect its books and also look into the circumstances outlined by its deceased founder VG Siddhartha in his purported suicide note.

Siddhartha's body was found on July 29 in the Nethravati river in South India, two days after he went missing, and a note that seemed to have been written by him said he had "failed as an entrepreneur" and talked about pressure from lenders and an investor. It also alleged harassment at the hands of the income tax department.

The promoter group's pledged shares increased to over 80 percent recently from 75.7 percent till July 29, 2019. Given the circumstances, some of the investors have invoked pledged shares of the Coffee Day group to recover a part of their debt.

The board of Coffee Day Enterprises also decided, on August 8, to sell the group’s 90-acre technology park in Bengaluru to reduce the company's debt burden.

Aurobindo Pharma | Up 9 percent

Shares of Aurobindo Pharma rallied after June quarter earnings beat analyst expectations on all parameters.

The company reported a 39.5 percent YoY growth in June quarter net profit at Rs 635.7 crore driven by strong sales growth from the US, Europe and antiretroviral businesses.

Revenue during the quarter grew by 28.1 percent to Rs 5,444.6 crore compared to year-ago with US formulation business growing 42.3 percent and EU formulations segment rising 16.1 percent YoY.

The antiretroviral drug sales doubled to Rs 318.5 crore over the year-ago period. Aurobindo’s net debt dropped 18.3 percent on QoQ basis to Rs 4,093.9 crore.

Venkys | Up 16 percent

Shares of Venkys rose more than 16 percent in the last week after the company reported a 106 percent jump in its June quarter numbers.

The company has reported Q1FY20 net profit at Rs 61.8 crore against Rs 29.9 crore in the quarter of March 2019.

Revenue of the company rose 9 percent at Rs 905.3 crore against Rs 755.6 crore. Other income of the company stood at Rs 8.27 crore versus Rs 9.68 crore.

Minda Industries | Up 12 percent

Minda Industries rose 12 percent in the week ended August 9 despite company posted fall in its June quarter net profit.

The company's Q1 consolidated net profit was down 26.3 percent at Rs 62.3 crore against Rs 84.6 crore, while revenue was at Rs 1,440 crore against Rs 1,430 crore, YoY.

Earnings before interest, tax, depreciation and amortization (EBITDA) was up at Rs 172.2 crore, while margin was flat at 12 percent.

MORE WILL UPDATE SOON!!

Stocks in the news: RIL, Tata Motors, ONGC, BHEL, BPCL, Sintex Plastics, Varroc Engg, Oil India

10:14 Arun Singh No comments Edit

Tata Motors | Alembic | Bosch | National Aluminium Company | Unichem Laboratories | ONGC | BHEL | BPCL and Sintex Plastics are among stocks, which are in news today.

Here are the stocks that are in news today:

Results on August 13: Glenmark Pharmaceuticals, ONGC, Sun Pharmaceutical, Coal India, Alembic, Bosch, National Aluminium Company, Bharat Forge, Chalet Hotels, Adhunik Industries, UFO Moviez, Solara Active Pharma Sciences, GMM Pfaudler, RITES, Fine Organic Industries, Dishman Carbogen Amcis, Karda Constructions, Setco Automotive, Techno Electric, Mandhana Industries, Shree Pushkar Chemicals, Reliance Home Finance, Mandhana Retail Ventures, Rollatainers, Rama Steel Tubes

Bharat Road Network, Precision Camshafts, Hindustan Aeronautics, MEP Infrastructure Developers, Dixon Technologies, Nagarjuna Fertilizers, Apex Frozen Foods, Dr Lal Path Labs, A2Z Infra Engineering, Snowman Logistics, Rain Industries, Vakrangee, Venus Remedies, Texmo Pipes, Shree Ganesh Forgings, Zenith Birla, Blue Star, BGR Energy Systems, Ansal Properties, Aarti Industries

Vardhman Textiles, Time Technoplast, Shilpa Medicare, Tamil Nadu Newsprint, Patel Integrated Logistics, Jai Corp, Essel Propack, Zodiac Clothing Company, Orissa Minerals Development Company, Mawana Sugars, Bajaj Hindusthan Sugar, Amrutanjan Health, Allied Digital Services, Everest Kanto Cylinder, Gallantt Ispat, Talwalkars Better Value, Bodal Chemicals, Kilitch Drugs,

Ashoka Buildcon, Manappuram Finance, Prime Focus, Parsvnath Developers, Redington (India), Godrej Industries, Gujarat Narmada Valley Fertilizers, Hotel Leela Venture, Sintex Industries, Saregama India, Electrosteel Castings, Mercator, JB Chemicals, Sakthi Sugars, Madhucon Projects, IPCA Laboratories, Morepen Laboratories, Reliance Infrastructure, Apollo Hospitals,

Opto Circuits, Kernex Microsystems, Kaveri Seed Company, Info Edge, Power Finance Corporation, DB Realty, Amtek Auto, Uflex, West Coast Paper Mills, Indoco Remedies, India Nippon Electricals, Jindal Cotex, Esab India

NHPC Q1: Consolidated profit rises 16.2 percent to Rs 989.3 crore versus Rs 851.7 crore, revenue climbs 12.5 percent to Rs 2,610 crore versus Rs 2,319.4 crore YoY.

BHEL Q1: Loss at Rs 217.7 crore against profit of Rs 40.7 crore, revenue falls 23.7 percent to Rs 4,532.5 crore versus Rs 5,942 crore YoY.

Future Consumer Q1: Loss at Rs 15.1 crore versus loss of Rs 6.1 crore, revenue rises 29.3 percent to Rs 1,048 crore versus Rs 810.9 crore YoY.

BPCL Q1: Profit falls 65.6 percent to Rs 1,075 crore versus Rs 3,124.9 crore, revenue rises 3.1 percent to Rs 76,318 crore versus Rs 73,990 crore QoQ.

SAIL Q1: Net profit down 87.3 percent at Rs 68.8 crore versus Rs 540.4 crore, revenue down 6.8 percent at Rs 14,820 crore versus Rs 15,907.2 crore, YoY

Oil India Q1: Consolidated profit at Rs 847.2 crore against loss of Rs 70.6 crore, revenue rises 9.2 percent to Rs 3,380.9 crore versus Rs 3,097.3 crore QoQ.

Sunteck Realty Q1: Consolidated net profit down 51.4 percent at Rs 33.2 crore versus Rs 68.25 crore, revenue down 17.3 percent at Rs 174.6 crore versus Rs 211.1 crore, YoY

Sadbhav Infra Q1: Consolidated net loss at Rs 70.1 crore versus Rs 65.6 crore, revenue down 0.2 percent at Rs 795.9 crore versus Rs 797.5 crore, YoY

Bombay Burmah Q1: Consolidated net profit up 82.7 percent at Rs 122.12 crore against Rs 66.83 crore, revenue up 5.8 percent at Rs 2,784.8 crore against Rs 2,631.4 crore, YoY

Motherson Sumi Q1: Consolidated net profit down 25.2 percent at Rs 331.5 crore versus Rs 443.1 crore, revenue up 13.7 percent at Rs 16,792.5 crore versus Rs 14,775.5 crore, YoY

VRL Logistics Q1: Net profit was up 13.5 percent at Rs 27.45 crore versus Rs 24.18 crore, revenue was up 2.1 percent at Rs 539.6 r versus Rs 528.5 crore, YoY

Chambal Fertilisers Q1: Consolidated net profit was up 6.1 percent at Rs 164.4 crore versus Rs 155 crore, revenue was up 29.8 percent at Rs 2,871.1 crore versus Rs 2,211.4 crore, YoY

Divis Lab Q1: Consolidated net profit was up 1.8 percent at Rs 272.4 crore versus Rs 267.7 crore, revenue was up 16.8 percent at Rs 1,162.9 crore Rs 995.2 crore, YoY

PNC Infra Q1: Consolidated net profit was up 51.8 percent at Rs 178.5 crore versus Rs 117.6 crore, revenue was up 66.4 percent at Rs 1,524.5 crore versus Rs 916.4 crore, YoY

Goodyear India Q1: Net profit up 5.9 percent at Rs 26.25 crore versus Rs 24.78 crore, revenue down 8.3 percent at Rs 490.3 crore versus Rs 534.6 crore, YoY

NTPC Q1: Consolidated net profit was up 5.6 percent at Rs 2,840.3 crore versus Rs 2,689 crore, revenue was up 8 percent at Rs 25,931.1 crore versus Rs 24,013.2 crore, YoY

Hindustan Copper Q1: Consolidated net profit was down 47.4 percent at Rs 19.2 crore versus Rs 36.5 crore, revenue was down 27.2 percent at Rs 304.1 crore versus Rs 417.9 crore, YoY

Caplin Point Q1: Consolidated net profit up 34.2 percent at Rs 50.23 crore versus Rs 37.42 crore, revenue up 31.5 percent at Rs 192.6 crore versus Rs 146.5 crore, YoY

Balkrishna Industries Q1: Consolidated net profit was down 21.4 percent at Rs 176.8 crore versus Rs 225.1 crore, revenue was down 11 percent at Rs 1,198.9 crore versus Rs 1,347.6 crore, YoY

Finolex Industries Q1: Consolidated net profit was down 34.8 percent at Rs 73.2 crore versus Rs 112.3 crore, revenue was up 14 percent at Rs 943.8 crore versus Rs 827.8 crore, YoY

Godfrey Phillips Q1: Consolidated net profit at Rs 118.6 Crore versus Rs 57.4 crore, revenue was up 39.7 percent at Rs 841.3 crore versus Rs 602.1 crore, YoY

NIIT Q1: Consolidated net profit at Rs 1,090 crore versus Rs 17.9 crore, revenue was down 1.8 percent at Rs 210.3 crore versus Rs 214.2 crore, YoY

APL Apollo Tubes Q1: Consolidated net profit was up 10.2 percent at Rs 51.8 crore versus Rs 47 crore, revenue was up 23.6 percent at Rs 2,071.6 crore versus Rs 1,676.5 crore, YoY

Narayana Hrudayalaya Q1: Profit rises to Rs 20.5 crore versus Rs 0.5 crore, revenue climbs 15.7 percent to Rs 558.3 crore versus Rs 482.6 crore YoY.

Universal Cables Q1: Profit increases 7.1 percent to Rs 18.65 crore versus Rs 17.42 crore, revenue jumps 35.1 percent to Rs 426.4 crore versus Rs 315.7 crore YoY. Prasanta Pandit resigns as CFO.

Allahabad Bank: Lender reduced interest rate (MCLR) by 15 to 20 bps.

IRB Infra - Mhaiskar Infrastructure, a wholly owned subsidiary of the company, has successfully completed concession period of Mumbai Pune Project on August 10, 2019 and subsequently, SPV has handed over the Project to the MSRDC

Sintex Plastics Technology divest entire equity holding in its indirect wholly ownedsubsidiary, Sintex NP SAS

Varroc Engineering to acquire 74% stake in CarIQ, a leading Telematics solution provider

Cox & Kings

Malvern Group, the holding Company of Superbreak and Laterooms had declared insolvency in UK

Malvern Group is 49% owned by Cox & Kings (Investment value as on March 31, 2019 is Rs 9.21 crore)

Alembic Pharmaceuticals receives USFDA approval for Dorzolamide Hydrochloride Ophthalmic Solution USP, 2%

Saudi Aramco and Reliance Industries (RIL) sign a non-binding letter of intent to acquire a 20% stake in O2C division of RIL at an enterprise value of USD 75 billion

Reliance Jio Infocomm, a subsidiary of Reliance Industries and Microsoft Corp in alliance to accelerate digital transformation in India

Grasim Industries board meeting on August 14 to consider raising of funds through issue of non-convertible debentures, in one or more tranches, on private placement basis

DB Realty: Pledge on 2.1 percent promoter stake released on August 6.

Praj Industries has entered into a cooperation agreement with Dedini S/A lndustrias de Base to provide ethanol production technologies to the Brazilian market

Tata Motors: JLR July retail sales rose 5 percent to 37,945 units, Jaguar sales increased 3.6 percent to 11,386 units and Land Rover sales rose 5.6 percent to 26,559 units YoY. China sales saw a recovery in July.

Tata Motors: S&P took company off credit watch, saying Tata Motors' outlook negative on cash outflows, brexit.

Indoco Remedies - Anacipher clears USFDA inspection with zero 483

Torrent Pharma: USFDA classified Indrad facility as official action indicated (OAI)

USFDA completes inspection of Natco’s Mekaguda active pharmaceutical ingredient facilityY

Sonata Software announces partnership with Agastya International Foundation to support creativity and innovative thinking in rural schools

Unichem Laboratories received ANDA approval from USFDA for Chlorthalidone Tablets

IBM and Tata Communications join Hedera governing council

JSW Steel: Crude steel production down 4 percent to 13.17 lakh tonnes against 13.78 lakh tonnes YoY.

Andhra Bank has decreased its marginal cost of funds based lending (MCLR) w.e.f. August 16, 2019

Bank Of India told CNBC-TV18: Bank has cut lending rates by 25 bps and margins will be negatively impacted due to reduction in lending rate.

NDTV: Founders Radhika & Prannoy Roy prevented from leaving the country. CBI is probing allegations of bank fraud, money laundering against Roys & NDTV

Vinati Organics - CARE has upgraded the ratings of Long-term/Short-term Bank Facilities to CARE AA; stable / CARE A1+

Suzlon Energy clarified that the company continues to work on significant debt reduction, as committed. The company has been exploring various funding options like raising fresh equity and the company has been engaging with its lenders in this regard to arrive at mutually acceptable and viable options.

Zuari Agro - After the repair of tube leak of the PG- Reboiler in the CO2 removal section of Ammonia Plant, the plants could not be started, due to non-availability of gas supply, due to non payment of dues to GAIL, which was due to liquidity issues arising mainly out of delay in release of subsidy