Forwarded from TEJGyan
#GOOD_TO_KNOW
#Alembic_Pharma
Daily Candle Double Bottom
SUPPORT @554_552_506_484
ACCUMULATION seen
Price momentum
484_522_542_560_575_590
HOPE FOR THE BEST
#Alembic_Pharma
Daily Candle Double Bottom
SUPPORT @554_552_506_484
ACCUMULATION seen
Price momentum
484_522_542_560_575_590
HOPE FOR THE BEST
Forwarded from TEJGyan
#GOOD_TO_KNOW
#AMBUJA_CEM CMP 205+
TARGET ARE ON CHARTS
FLAG BREAKOUT WITH GOOD VOLUME
KEEP WATCH OUT CLOSELY
HOPE FOR THE BEST
CHART FOR STUDY
#AMBUJA_CEM CMP 205+
TARGET ARE ON CHARTS
FLAG BREAKOUT WITH GOOD VOLUME
KEEP WATCH OUT CLOSELY
HOPE FOR THE BEST
CHART FOR STUDY
Forwarded from TEJGyan (All Mighty)
#GOOD_TO_KNOW
#CITY_GAS_DISTRIBUTION
#Summary
India is rapidly migrating to an alternative fuel environment. Yet until relatively recently, despite
being a critical clean fuel, natural gas was not given its due prominence as there was a clear lack of
policy initiative. Under the Modi government, the push to this fuel segment has been fast tracked as
is apparent in the time-bound rollout of the 9th and 10th round of auctions. The government is looking
to increase the contribution of gas in the total energy mix from 6% to 22% by 2022. This presents significant visibility to the CGD growth story.
The CGD network is massively underpenetrated and extensively developed in only 3 geographical
areas (GAs) –
• Mumbai & adjacent areas,
• National Capital Region
• State of Gujarat
Apart from these three geographies there are 20 GAS with limited operations/penetration.
In the 9th round of bidding, PNGRB (regulatory body) allocated 84 GAs in 174 districts (in 22 states
& UTs). PNGRB has also launched the 10th CGD bidding round covering 50 GAs spread over 124
districts in 14 states/UTs. After the completion of the 10th round, CGD coverage would include 226GAs covering 404 districts across India (~70% of the population would have access to CGDnetwork).
This gargantuan expansion in the CGD coverage is expected to lead to robust growth in gas volume.
With formidable entry barriers and quasi-monopoly in respective regions, the three listed players –
Indraprastha Gas Ltd (IGL), Gujarat Gas Ltd (GGL) and Mahanagar Gas Ltd (MGL) are expected to
remain consistent in performance, given that:
1. The marketing exclusivity period of 8 years (increased from 5 years) for authorized GAs
provides ample time to seed the entire geography, without facing competition from other
potential incumbents.
2. With market penetration high growth volume is expected to start kicking in.
3. High growth and long-term revenue visibility imply strong cash flow generation to finance future capex
4. Priority in allocation of APM gas ensures predictability in costing of CGD gas production.
#We_initiate_coverage_on_the_CGD_stocks_overview
#Gujarat_Gas (BUY): Heavy lifting is done with; now focusing on marginsGGL is the largest CGD player in India, supplying ~6.8 MMSCMD gas to Gujarat, Palghar & Thane rural areas. We are expecting double-digit volume growth in the medium term (next 3 years) driven by:
• Increasing adoption of PNG industrial gas as the primary fuel by industry.
• CNG contribution to the total mix is ~21% and a bulk of public transport is still based on fossil fuel. Hence, we do not expect significant disruption in CNG volumes.
We expect GGL’s gas volumes to grow at a CAGR of 10.4% between FY18-21E and EBITDA per SCM to improve from Rs.3.99 in FY18 to Rs.4.91 by FY21E. We have a BUY rating on the stock with a target price of Rs.248.
#Indraprastha_Gas (HOLD): A balanced player with multiple growth drivers in placeIGL is the 2nd largest CGD player in India, supplying ~5.3 MMSCMD gas toNCR and adjoining areas. NCR and Mumbai have the largest vehicle population in the country. We expect the EV rollout to start from these two
geographies and gradually move to the rest of India. The public transport buses will be the first to be rolled out and trials of the same are already
underway. We believe that IGL with ~74% of CNG in the volume mix will be prone to earning risk. However, we believe that volume growth from newer geographies and deeper penetration will help alleviate this to a certain extent.
We expect IGL’s gas volumes to grow at a CAGR of 10.9% between FY18-21E and EBITDA per SCM to improve marginally from Rs.6.16 in FY18 to Rs.6.35 by FY21E. We have a HOLD rating on the stock with a target price of Rs.305.
#Mahanagar_Gas (Will_update): A pure retail gas play fixated on marginsMGL is the 3rd largest CGD player in India, supplying ~3.0 MMSCMD of the gas to Mumbai, Thane & Raigarh districts. PNG domestic & CNG contributes >85% to MGL’s total gas volume, making it the
#CITY_GAS_DISTRIBUTION
#Summary
India is rapidly migrating to an alternative fuel environment. Yet until relatively recently, despite
being a critical clean fuel, natural gas was not given its due prominence as there was a clear lack of
policy initiative. Under the Modi government, the push to this fuel segment has been fast tracked as
is apparent in the time-bound rollout of the 9th and 10th round of auctions. The government is looking
to increase the contribution of gas in the total energy mix from 6% to 22% by 2022. This presents significant visibility to the CGD growth story.
The CGD network is massively underpenetrated and extensively developed in only 3 geographical
areas (GAs) –
• Mumbai & adjacent areas,
• National Capital Region
• State of Gujarat
Apart from these three geographies there are 20 GAS with limited operations/penetration.
In the 9th round of bidding, PNGRB (regulatory body) allocated 84 GAs in 174 districts (in 22 states
& UTs). PNGRB has also launched the 10th CGD bidding round covering 50 GAs spread over 124
districts in 14 states/UTs. After the completion of the 10th round, CGD coverage would include 226GAs covering 404 districts across India (~70% of the population would have access to CGDnetwork).
This gargantuan expansion in the CGD coverage is expected to lead to robust growth in gas volume.
With formidable entry barriers and quasi-monopoly in respective regions, the three listed players –
Indraprastha Gas Ltd (IGL), Gujarat Gas Ltd (GGL) and Mahanagar Gas Ltd (MGL) are expected to
remain consistent in performance, given that:
1. The marketing exclusivity period of 8 years (increased from 5 years) for authorized GAs
provides ample time to seed the entire geography, without facing competition from other
potential incumbents.
2. With market penetration high growth volume is expected to start kicking in.
3. High growth and long-term revenue visibility imply strong cash flow generation to finance future capex
4. Priority in allocation of APM gas ensures predictability in costing of CGD gas production.
#We_initiate_coverage_on_the_CGD_stocks_overview
#Gujarat_Gas (BUY): Heavy lifting is done with; now focusing on marginsGGL is the largest CGD player in India, supplying ~6.8 MMSCMD gas to Gujarat, Palghar & Thane rural areas. We are expecting double-digit volume growth in the medium term (next 3 years) driven by:
• Increasing adoption of PNG industrial gas as the primary fuel by industry.
• CNG contribution to the total mix is ~21% and a bulk of public transport is still based on fossil fuel. Hence, we do not expect significant disruption in CNG volumes.
We expect GGL’s gas volumes to grow at a CAGR of 10.4% between FY18-21E and EBITDA per SCM to improve from Rs.3.99 in FY18 to Rs.4.91 by FY21E. We have a BUY rating on the stock with a target price of Rs.248.
#Indraprastha_Gas (HOLD): A balanced player with multiple growth drivers in placeIGL is the 2nd largest CGD player in India, supplying ~5.3 MMSCMD gas toNCR and adjoining areas. NCR and Mumbai have the largest vehicle population in the country. We expect the EV rollout to start from these two
geographies and gradually move to the rest of India. The public transport buses will be the first to be rolled out and trials of the same are already
underway. We believe that IGL with ~74% of CNG in the volume mix will be prone to earning risk. However, we believe that volume growth from newer geographies and deeper penetration will help alleviate this to a certain extent.
We expect IGL’s gas volumes to grow at a CAGR of 10.9% between FY18-21E and EBITDA per SCM to improve marginally from Rs.6.16 in FY18 to Rs.6.35 by FY21E. We have a HOLD rating on the stock with a target price of Rs.305.
#Mahanagar_Gas (Will_update): A pure retail gas play fixated on marginsMGL is the 3rd largest CGD player in India, supplying ~3.0 MMSCMD of the gas to Mumbai, Thane & Raigarh districts. PNG domestic & CNG contributes >85% to MGL’s total gas volume, making it the
Forwarded from TEJGyan (All Mighty)
gest retail driven CGD play in the listed space. MGL commands higher margins than GGL & IGL as its contribution from industrial is lowest in industry. Low-cost APM gas is made
exclusively available to CGD player leading to better margins. Along with improving retail volume growth, the industrial volume is also expected to ramp-
up, given that expansion into the Raigarh GA, which is more industrialized than MGL’s other GAs
However, the EV rollout will impact CNG volumes of public transport. With over 75% contribution from high margin CNG, we believe that the earnings are at risk of deterioration.
We expect MGL’s gas volumes to grow at a CAGR of 8.2% between FY18-21E and EBITDA per SCM to marginally deteriorate from Rs.7.91 in FY18 to
Rs.7.60 by FY21E. We initiate with a REDUCE rating on the stock with a target price of Rs.894.
#Adani_Gas (Not Rated): Frontrunner in auction wins; adherence to the milestones is a challenge
After the demerger from Adani Enterprises, AGL emerged as the 4th listed player in the CGD space, supplying ~1.4 MMSCMD of gas to 13 GAs in
Gujarat and Faridabad. AGL was the most aggressive bidder in the 9th round and was able to secure wins in 22 GAs (13 GAs individually and 9 GAs in JV
with IOCL), taking its total GA count to 35. Post the 9th round, AGL has emerged as a truly pan India player.
We will update all technical aspects in this week.
STAY CONNECTED
HOPE FOR THE BEST.
exclusively available to CGD player leading to better margins. Along with improving retail volume growth, the industrial volume is also expected to ramp-
up, given that expansion into the Raigarh GA, which is more industrialized than MGL’s other GAs
However, the EV rollout will impact CNG volumes of public transport. With over 75% contribution from high margin CNG, we believe that the earnings are at risk of deterioration.
We expect MGL’s gas volumes to grow at a CAGR of 8.2% between FY18-21E and EBITDA per SCM to marginally deteriorate from Rs.7.91 in FY18 to
Rs.7.60 by FY21E. We initiate with a REDUCE rating on the stock with a target price of Rs.894.
#Adani_Gas (Not Rated): Frontrunner in auction wins; adherence to the milestones is a challenge
After the demerger from Adani Enterprises, AGL emerged as the 4th listed player in the CGD space, supplying ~1.4 MMSCMD of gas to 13 GAs in
Gujarat and Faridabad. AGL was the most aggressive bidder in the 9th round and was able to secure wins in 22 GAs (13 GAs individually and 9 GAs in JV
with IOCL), taking its total GA count to 35. Post the 9th round, AGL has emerged as a truly pan India player.
We will update all technical aspects in this week.
STAY CONNECTED
HOPE FOR THE BEST.
Forwarded from TEJGyan
#Asian Markets Trade Lower; GDP Estimated to Grow 5% in 2019-2020
Updated: January 08, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 1.3% lower at 11,960, compared with its previous close.
Yesterday, Nifty after gapping up, immediately reversed as the session proceeded to erase about half of the gains; however, last hour buying interest helped the index close above its 50-DMA on modest gains. Volume was higher compared with that of the previous session. In the broader market, Midcap performed in line with Nifty, while SmallCap outperformed with a gain of 1.2%.
On the macro front, gross domestic product is estimated to grow 5.0% in 2019–2020, slower than the 6.8% growth of 2018–2019 as per data released by the ministry of statistics. On the sectoral front, all sectoral indices closed in the green. Nifty Realty (+1.9%) and Media (+1.0%) were the major advancers. Further, FIIs sold shares worth Rs 682 crore, while DIIs bought shares to the tune of Rs 311 crore, respectively. The rupee continued to remain under pressure and deteriorated further to close at Rs 72.20.
Looking ahead, we can expect volatility in the market in the short term amid increased geopolitical tensions. The status will be back to a Confirmed Uptrend if Nifty retakes 12,294 (high during the recent rally). We will change the status to a Downtrend if two or three more distribution days are added or Nifty breaches 11,800 (key support level). As the market condition has been changed to an Uptrend Under Pressure, investors should proceed ahead with caution. Exit stocks that are performing weaker than the market and keep holding the resilient stocks. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised.
#Market_status: Uptrend Under Pressure
#Global_stock_markets: Hangseng -1.2%, KOSPI -1.1%; Nikkei, -2%; Nasdaq, -0.03%; S&P 500, -0.3%; Dow, -0.4%.
#Key_News
#Suzlon_Energy defaulted on payment of interest/repayment of principal amount on loans from banks/financial institutions worth Rs 7,256.38 crore.
#Nhpc raised Rs 500 crore in the second tranche through the issue of secured, redeemable, taxable, non-cumulative, non-convertible 7.38% NHPC-Y1 Series Bonds on a private placement basis.
#Nbcc (India) secured the business of Rs 1,090 crore in December.
Updated: January 08, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 1.3% lower at 11,960, compared with its previous close.
Yesterday, Nifty after gapping up, immediately reversed as the session proceeded to erase about half of the gains; however, last hour buying interest helped the index close above its 50-DMA on modest gains. Volume was higher compared with that of the previous session. In the broader market, Midcap performed in line with Nifty, while SmallCap outperformed with a gain of 1.2%.
On the macro front, gross domestic product is estimated to grow 5.0% in 2019–2020, slower than the 6.8% growth of 2018–2019 as per data released by the ministry of statistics. On the sectoral front, all sectoral indices closed in the green. Nifty Realty (+1.9%) and Media (+1.0%) were the major advancers. Further, FIIs sold shares worth Rs 682 crore, while DIIs bought shares to the tune of Rs 311 crore, respectively. The rupee continued to remain under pressure and deteriorated further to close at Rs 72.20.
Looking ahead, we can expect volatility in the market in the short term amid increased geopolitical tensions. The status will be back to a Confirmed Uptrend if Nifty retakes 12,294 (high during the recent rally). We will change the status to a Downtrend if two or three more distribution days are added or Nifty breaches 11,800 (key support level). As the market condition has been changed to an Uptrend Under Pressure, investors should proceed ahead with caution. Exit stocks that are performing weaker than the market and keep holding the resilient stocks. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised.
#Market_status: Uptrend Under Pressure
#Global_stock_markets: Hangseng -1.2%, KOSPI -1.1%; Nikkei, -2%; Nasdaq, -0.03%; S&P 500, -0.3%; Dow, -0.4%.
#Key_News
#Suzlon_Energy defaulted on payment of interest/repayment of principal amount on loans from banks/financial institutions worth Rs 7,256.38 crore.
#Nhpc raised Rs 500 crore in the second tranche through the issue of secured, redeemable, taxable, non-cumulative, non-convertible 7.38% NHPC-Y1 Series Bonds on a private placement basis.
#Nbcc (India) secured the business of Rs 1,090 crore in December.
Forwarded from TEJGyan
#GOOD_TO_KNOW
Vedanta Raises Rs 2,000 Crore in Funds; HFCL to Acquire 15% Stake in Nivetti Systems
Updated: January 09, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 0.9% higher at 12,175, compared with its previous close.
Yesterday, Nifty, after opening about 110 points lower amid geopolitical uncertainty, made a recovery as the session proceeded and closed near the upper side of the day’s range. It was not able to hold its 50-DMA, which it retook yesterday. Volume was marginally lower compared with that of the previous session, resulting in Nifty escaping a distribution day. In the broader market, Nifty Midcap gained 0.3%, while Smallcap performed in line with the index. Many of the quality names are seen setting up and breaking out of bases in the broader market space.
On the sectoral front, barring Nifty IT (+0.4%) and FMCG (+0.1%), all the sectoral indices ended in the red. Nifty Auto (-0.8%) and Metal (-0.7%) were the major decliners. Further, FIIs sold shares worth Rs 516 crore, while DIIs bought shares to the tune of Rs 748 crore. The rupee showed a recovery and closed at Rs 71.48. Brent crude declined 4.4% to $65.22 a barrel, falling from a four-month high of $71.75 per barrel.
Looking ahead, we can expect volatility in the market in the short term amid ongoing geopolitical uncertainty. The status will be back to a Confirmed Uptrend if Nifty retakes 12,294 (high during the recent rally). We will change the status to a Downtrend if two or three more distribution days are added or Nifty breaches 11,800 (key support level). As the market condition has been changed to an Uptrend Under Pressure, investors should proceed ahead with caution. Exit stocks that are performing weaker than the market and keep holding the resilient stocks. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised.
#Market_status: Uptrend Under Pressure
#Global_stock_markets: Hangseng +1.2%, KOSPI +1.1%; Nikkei, +1.9%; Nasdaq, +0.7%; S&P 500, +0.5%; Dow, +0.6%.
#Key_News
#Alembic’s joint venture Aleor Dermaceuticals Ltd. (Aleor) completed U.S. FDA inspection at its formulation manufacturing facility located at Karakhadi, Gujarat without any observations.
#Vedanta got its board’s approval to offer subscriptions of secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) worth up to Rs 2,000 crore in one or more tranches on a private placement basis.
#HFCL acquired 15% of the diluted paid-up equity share capital of Nivetti, in one or more tranches, with a cash consideration of Rs 15.95 crore.
Vedanta Raises Rs 2,000 Crore in Funds; HFCL to Acquire 15% Stake in Nivetti Systems
Updated: January 09, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 0.9% higher at 12,175, compared with its previous close.
Yesterday, Nifty, after opening about 110 points lower amid geopolitical uncertainty, made a recovery as the session proceeded and closed near the upper side of the day’s range. It was not able to hold its 50-DMA, which it retook yesterday. Volume was marginally lower compared with that of the previous session, resulting in Nifty escaping a distribution day. In the broader market, Nifty Midcap gained 0.3%, while Smallcap performed in line with the index. Many of the quality names are seen setting up and breaking out of bases in the broader market space.
On the sectoral front, barring Nifty IT (+0.4%) and FMCG (+0.1%), all the sectoral indices ended in the red. Nifty Auto (-0.8%) and Metal (-0.7%) were the major decliners. Further, FIIs sold shares worth Rs 516 crore, while DIIs bought shares to the tune of Rs 748 crore. The rupee showed a recovery and closed at Rs 71.48. Brent crude declined 4.4% to $65.22 a barrel, falling from a four-month high of $71.75 per barrel.
Looking ahead, we can expect volatility in the market in the short term amid ongoing geopolitical uncertainty. The status will be back to a Confirmed Uptrend if Nifty retakes 12,294 (high during the recent rally). We will change the status to a Downtrend if two or three more distribution days are added or Nifty breaches 11,800 (key support level). As the market condition has been changed to an Uptrend Under Pressure, investors should proceed ahead with caution. Exit stocks that are performing weaker than the market and keep holding the resilient stocks. Unless a stock shows exceptional fundamental and technical strength, no new addition to the portfolio is advised.
#Market_status: Uptrend Under Pressure
#Global_stock_markets: Hangseng +1.2%, KOSPI +1.1%; Nikkei, +1.9%; Nasdaq, +0.7%; S&P 500, +0.5%; Dow, +0.6%.
#Key_News
#Alembic’s joint venture Aleor Dermaceuticals Ltd. (Aleor) completed U.S. FDA inspection at its formulation manufacturing facility located at Karakhadi, Gujarat without any observations.
#Vedanta got its board’s approval to offer subscriptions of secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) worth up to Rs 2,000 crore in one or more tranches on a private placement basis.
#HFCL acquired 15% of the diluted paid-up equity share capital of Nivetti, in one or more tranches, with a cash consideration of Rs 15.95 crore.
Forwarded from TEJGyan
#GOOD_TO_KNOW
#FRESH_VIEW (12 JAN)
#ITC CMP 238
SUPPORT @235_225
INITIAL RESISTANCE 240_245
IF SUSTAIN IN THIS LEVEL
UP MOVEMENT POSSIBLE
PRICE MOMENTUM
225_230_238_242_248_256_266
KEEP WATCH CLOSELY
BUY IN SIP
CHART FOR STUDY
HOPE FOR THE BEST.
#FRESH_VIEW (12 JAN)
#ITC CMP 238
SUPPORT @235_225
INITIAL RESISTANCE 240_245
IF SUSTAIN IN THIS LEVEL
UP MOVEMENT POSSIBLE
PRICE MOMENTUM
225_230_238_242_248_256_266
KEEP WATCH CLOSELY
BUY IN SIP
CHART FOR STUDY
HOPE FOR THE BEST.
Forwarded from TEJGyan
#GOOD_TO_KNOW
IIP in November Grows 1.8%; Infosys and DMART Q3 Results Beat Consensus
Updated: January 13, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 0.3% higher at 12,328, compared with its previous close.
On Friday, after gapping up, Nifty traded constructively to make a new high. However, it digested most of the gains toward the later hours amid selling pressure and closed the day holding minor gains. Volume was significantly higher compared with that of the previous session. Further, the Indian market was moved to a Confirmed Uptrend as the index broke out from the 12,294 level (high during the recent Confirmed Uptrend) and made a new all-time high of 12,310.7. In the broader market, both Nifty Midcap and Smallcap posted gains of 0.4% and 0.8%, respectively. Many quality names are seen setting up and breaking out of bases in the broader market space.
Barring Nifty PVT Bank (-0.2%), all the sectoral indices ended in the positive. Nifty Realty (+1.8%) and Metal (+1.2%) were the major advancers. Further, FIIs bought shares worth Rs 578 crore, while DIIs sold shares to the tune of Rs 252 crore.
Looking forward, we would like to see an additional follow-through day where Nifty gains more than 1.5% on above average volume. This will strengthen the current uptrend. In the current market scenario, with Nifty upgraded to a Confirmed Uptrend, we are open to increasing risk selectively. Investors should focus on quality stocks coming out of proper bases and showing strong relative strength compared with the market. Further, with the improved market condition, investors should follow the pyramiding strategy while augmenting their exposure.
#Market_status: Confirmed Uptrend
#Global_stock_markets: Hangseng +0.5%, KOSPI +0.6%; Nikkei, +0.5%; Nasdaq, -0.3%; S&P 500, -0.3%; Dow, -0.5%.
#Results Today: #Delta_Corporation, #Tata_Elxsi,among others
#Key_News
The Index of Industrial Production (IIP) entered positive territory after contracting for three consecutive months. IIP grew 1.8% in November, compared with a degrowth of 3.84% in October, as per data from the Ministry of Statistics and Programme Implementation.
#Infosys reported better-than-expected Q3 results after market close on Friday. Net profit advanced 23.5% y/y to Rs 4,457 crore. Revenue stood at Rs 23,092 crore with a 7.9% increase on a y/y basis. The company revised its FY20 revenue guidance to 10.0–10.5% in constant currency terms. Further, the company's audit committee and an external team gave it a clean chit on allegations made by whistleblowers.
#Avenue_Supermarts's December quarter results beat consensus. Revenue increased 23.9% to Rs 6,751.9 crore. PAT was up 53.3% to Rs 394.3 crore. Margins advanced 50bps to 8.8%.
IIP in November Grows 1.8%; Infosys and DMART Q3 Results Beat Consensus
Updated: January 13, 2020
#Market_Preview
At 8:00am IST, the SGX Nifty Futures was trading 0.3% higher at 12,328, compared with its previous close.
On Friday, after gapping up, Nifty traded constructively to make a new high. However, it digested most of the gains toward the later hours amid selling pressure and closed the day holding minor gains. Volume was significantly higher compared with that of the previous session. Further, the Indian market was moved to a Confirmed Uptrend as the index broke out from the 12,294 level (high during the recent Confirmed Uptrend) and made a new all-time high of 12,310.7. In the broader market, both Nifty Midcap and Smallcap posted gains of 0.4% and 0.8%, respectively. Many quality names are seen setting up and breaking out of bases in the broader market space.
Barring Nifty PVT Bank (-0.2%), all the sectoral indices ended in the positive. Nifty Realty (+1.8%) and Metal (+1.2%) were the major advancers. Further, FIIs bought shares worth Rs 578 crore, while DIIs sold shares to the tune of Rs 252 crore.
Looking forward, we would like to see an additional follow-through day where Nifty gains more than 1.5% on above average volume. This will strengthen the current uptrend. In the current market scenario, with Nifty upgraded to a Confirmed Uptrend, we are open to increasing risk selectively. Investors should focus on quality stocks coming out of proper bases and showing strong relative strength compared with the market. Further, with the improved market condition, investors should follow the pyramiding strategy while augmenting their exposure.
#Market_status: Confirmed Uptrend
#Global_stock_markets: Hangseng +0.5%, KOSPI +0.6%; Nikkei, +0.5%; Nasdaq, -0.3%; S&P 500, -0.3%; Dow, -0.5%.
#Results Today: #Delta_Corporation, #Tata_Elxsi,among others
#Key_News
The Index of Industrial Production (IIP) entered positive territory after contracting for three consecutive months. IIP grew 1.8% in November, compared with a degrowth of 3.84% in October, as per data from the Ministry of Statistics and Programme Implementation.
#Infosys reported better-than-expected Q3 results after market close on Friday. Net profit advanced 23.5% y/y to Rs 4,457 crore. Revenue stood at Rs 23,092 crore with a 7.9% increase on a y/y basis. The company revised its FY20 revenue guidance to 10.0–10.5% in constant currency terms. Further, the company's audit committee and an external team gave it a clean chit on allegations made by whistleblowers.
#Avenue_Supermarts's December quarter results beat consensus. Revenue increased 23.9% to Rs 6,751.9 crore. PAT was up 53.3% to Rs 394.3 crore. Margins advanced 50bps to 8.8%.
Forwarded from TEJGyan
#GOOD_TO_KNOW
Indian Dividend Rock Stars
Established dividend payers with a history of paying reliable growing dividends.Indian Dividend Rock Stars
Indian Dividend Rock Stars
Established dividend payers with a history of paying reliable growing dividends.Indian Dividend Rock Stars
#GOOD_TO_KNOW
#EMBASSY_OFFICE CMP 328
SUPPORT @ 300
LOT SIZE 200
LONG TERM VIEW
FACE VALUE RS 300
DIVIDEND PAYOUT HISTORY
Ex dividend date 05/06/2021
#EMBASSY_OFFICE CMP 328
SUPPORT @ 300
LOT SIZE 200
LONG TERM VIEW
FACE VALUE RS 300
DIVIDEND PAYOUT HISTORY
Ex dividend date 05/06/2021