Market wrap-up (07 AUG 2015):
Market dips on the back of weak Q1 numbers:
Markets end on a negative note, a choppy session of trade as weak results declared by capital goods major BHEL as well selling pressure seen in PSU banks and metals stock.
HEADLINES FOR THE DAY:
- VEDL shares gain on hopes of restarting mining in Goa.
- Reliance Infra today clarifies media reports of receiving hydel project in HP.
- Aarti Inds hits fresh high on the back of huge volumes.
- Max India said that they received a nod from its shareholders for demerger.
- Government approved for divesting 5% stake in NHPC Ltd
Stock Tips And Key For The Day:
- RCOM (Reliance Communications) today told that it had received six non binding bids for buying 51pct stake in Reliance Infratel.
- Dr Reddy’s Lab told that company inked a pact for its three drugs used to treat heart diseases and cancer in India with US-based biotechnology firm Amgen.
- Government approved for divesting 11.36% stake in NTPC, on this news, stock fall, opened at 135.10 and made a low of 133.30 on the NSE.
- Bharti Airtel launches its high-speed 4G services across 296 towns nationwide; stock dips despite of positive news flow.
- Shares of Titan gains as Tata Sons will acquire 2.2% stake in the company at an estimated price of over Rs6.8bn, increasing its holding to 19.6%.
- Corporation Bank reported a 12% fall in net profit for the Q1 at Rs 204.26 crore from Rs 231.47 crore due to higher provision for bad loans as NPAs rose substantially during the quarter.
- After market hours Tata Motors reported 49% down in net profit for the April-June quarter, which stood at Rs 2769 crore on the back of dismal performance from JLR (Jaguar Land Rover) on China worries.
- BHEL shares fall after company shocks with its Q1 numbers, profit for the April-June quarter tank 83 percent, which stood at Rs 33.9 crore against Rs 193.5 crore due to lower revenue and loss at operating level.
- Grasim reported flat Q1 numbers at Rs 485 crore compared to Rs 487 crore same quarters last year.
- M&M reported a 7 percent fall in net profit for the first quarter at Rs 831 crore on the back on lower sales volumes.
- Finolex Industries gains in today’s trading session after reported robust Q1 numbers, net profit jump by 40%, which stood at Rs 70 crore against Rs 50.20 crore on a yearly basis.
- FRL dips after reported one digit profit number for the first quarter stood at Rs 6 crore against Rs 66.5 crore.
- Shares of Monte Carlo fall as much as after reported weak Q1 numbers, profit tanks 82.5% stood at Rs 1.48 crore against Rs 8.44 crore Y-o-Y.
- Praj Inds reported disappointing Q1 numbers, profit for the quarter tank on the back of a decline in total revenue.
- KEI IND gains in a negative market and hits fresh high on NSE after reported better than expected Q1 numbers. Reported three fold jump in net which stood at Rs 11.70 crore from Rs 3.54 crore.
Nifty Tips And Calls For Next Trading Session:
- JK Tyre gains for the 4th straight week, more buying could be seen in the next trading session. Buy above 122 targets 123.20/124.45/125.70 SL 120.50.
- BajajElec EQ gains on the back of positive news flow , company reported strong Q1 numbers, more buy could be expected on this news, Buy above 283 targets 285.80/288.70/291.50 SL 280..
- Pharma shares were strong this week, Shares of STAR gains and hits fresh, high in early trades and consolidates for the whole session, more buying could be expected in coming sessions. Buy above 1349 targets 1376/1403.50 SL 1322.
- IBULHSGFIN EQ is heading towards all time high with huge volumes, Breakouts is expected in next few trading sessions. Buy above 810 targets 826.20/842.70 SL 793.50.
DAILY CALLS UPDATE:
- MARKSANS EQ BUY CALL FINAL TARGET ACHIEVED. (Buy above 109.20 targets 110.30/111.40/112.50 SL 108.10.)
- BALAJITELE EQ BUY CALL DIDN’T EXECUTED.
WEEKLY CALLS UPDATE:
- BHARATFORG EQ BUY CALL FINAL TARGET ACHIEVED. (Buy above 1160 targets 1183.20/1206.90 SL 1136.)
- NILKAMAL EQ BUY CALL FINAL TARGET ACHIEVED. (Buy above 916 targets 934.30/953 SL 897).
NEWS TO WATCH OUT:
- Watch out for the Quarterly numbers Adani Ports, Chennai Petro, Fin Cables, HDIL, JK Bank, Jain Irrigation, Power Grid, Wock Pharma etc on Monday i.e. on 10th Aug 15.