DAILY EQUITY REPORT 31ST JULY 2013
INDIAN FACE
INDIAN EQUITY BENCHMARKS slipped for the fifth day in a row to hit its months lowest level amid a weakening rupee, and after the RBI asked the government to control the widening account deficit and also lowered growth forecast. Meanwhile, the central bank kept key policy rates unchanged (Repo Rate @ 7.25%, Reverse Repo Rate @ 6.25% and CRR @ 4%) at its policy review today.
Further, All the indices were punished severely in trade today. However, technology stocks outperform with rupee’s fall as it breached the 60/USD level.
Dr Reddy's Laboratories disappointed on all parameters with the first quarter net profit growing lower-than-expected 7.44 percent year-on-year to Rs 361 crore.
GLOBAL FACE
Asian stocks edged up on Tuesday after China's central bank injected funds into money markets for the first time since February while the dollar index moved off a five-week low.
European stocks were higher, supported by the release of positive data out of German, while investors eyed highly anticipated policy statements by the Federal Reserve and ECB later in the week.
U.S. stocks pointed to a slightly higher open on Tuesday, as investors turned to the Federal Reserve's upcoming policy-setting meeting for indications on the future of the central bank's stimulus program.
MARKET TALKS
RBI Credit Policy: Leaves key rates unchanged.
The RBI in its first quarter (April-June, 2013-14) monetary policy left key rates unchanged. The repo, the rate at which banks borrow overnight money from the RBI remained at 7.25%. The reverse repo or the rate at which banks park their surplus money with the central bank stood at 6.25%. The cash reserve ratio or the portion of deposits banks keep with the RBI is at 4 %.
Dr Reddy's Labs Q1 disappoints, net up 7% to Rs 361 crore YOY.
Dr Reddy's Laboratories disappointed on all parameters with the first quarter net profit growing lower-than-expected by 7.44 percent year-on-year to Rs 361 crore. Revenues increased 12 percent to Rs 2,845 crore during April-June quarter from Rs 2,540.6 crore reported in a year ago period and EBITDA rose by 6 percent Y-o-Y to Rs 417 crore in first quarter.
NTPC Q1 net up on lower fuel cost, rev down 3%.
NTPC reported a marginal year-on-year rise in its June quarter profit to Rs 2527 crore as it managed to lower fuel cost. Sales, however shrunk over 3 percent year-on-year to Rs 15613 crore. EBITDA margins of the state-run firm came in at 27.3 percent as against 23.7 percent Y-o-Y. The firm managed to bring down its fuel cost by 11 percent Y-o-Y to Rs 9420 crore.
Havells India Q1 net up 18% to Rs 94.7 cr.
Electrical equipment manufacturer Havells India disappointed on all parameters with the first quarter standalone net profit rising lower-than-expected 18 percent year-on-year to Rs 94.7 crore. Total income from operations increased marginally to Rs 1,051.3 crore in April-June quarter from Rs 1,032.8 crore reported in a year ago period.
Reliance Power Q1 net up at Rs 240cr, revenues down.
Reliance Power 's first quarter consolidated net profit rose higher-than-expected to Rs 240 crore from Rs 239.5 crore in a year ago period, dented by higher interest and depreciation cost. Consolidated net sales declined marginally to Rs 1,123 crore from Rs 1,136 crore year-on-year.
AGRI REPORT 31ST JULY 2013
TURMERIC
Indian turmeric futures up on Tuesday after consolidation of Monday, this week opening of
turmeric was downward on Monday. And on Tuesday it was making upward movement and
take a resistance of 5220.
TREND: BEARISH
SUPPORT 1: 5050,
SUPPORT 2: 4960,
RESISTENCE 1: 5220,
RESISTENCE 2: 5282,
STRATEGY: SELL ON RISE.
SOYABEAN
Soyabean futures rose by more than 3% on Tuesday while gap down opening was there in the Tuesday morning. Now soyabean can take a turn back to upward on august starting days if break the resistance of 3055.
TREND: CONSOLIDATE
SUPPORT 1: 2940,
SUPPORT 2: 2880,
RESISTENCE 1: 2995,
RESISTENCE 2: 3030,
STRATEGY: BUY ON DIPS.
CHANA
Chana had some bullishness on Tuesday as this could be profit booking and some weather changes forecast was there. Chana if gap up open on Wednesday and break the resistance of 2785 then there could be a upward movement for next days.
TREND: CONSOLIDATE
SUPPORT 1: 2610,
SUPPORT 2: 2584,
RESISTENCE 1: 2760,
RESISTENCE 2: 2785.
STRATEGY: SELL ON RISE.
DHANIYA
Dhaniya is consolidating and made a low of 5092 on Tuesday after a strong downward movement on Monday. Dhaniya hit lower circuit of 4% on Monday and on Tuesday some profit booking was there and make a doubtful doji.
TREND: CONSOLIDATE
SUPPORT 1: 5135,
SUPPORT 2: 4945,
RESISTENCE 1: 5290,
RESISTENCE 2: 5435,
STRATEGY: SELL ON RISE.
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Use of this report in no way constitutes a client/advisor relationship, all information we communicate to you (the subscriber) either through our Web site or other forms of communications, are purely for informational purposes only. We recommend seeking individual investment advice before making any investment, for you are assuming sole liability for your investments. Capital Stars will in no way have discretionary authority over your trading or investment accounts. All rights reserved.
CONTACT US
MOB: +91 92000 99927
PHONE: +91 731 6662200
Email: info@capitalstars.com
INDIAN FACE
INDIAN EQUITY BENCHMARKS slipped for the fifth day in a row to hit its months lowest level amid a weakening rupee, and after the RBI asked the government to control the widening account deficit and also lowered growth forecast. Meanwhile, the central bank kept key policy rates unchanged (Repo Rate @ 7.25%, Reverse Repo Rate @ 6.25% and CRR @ 4%) at its policy review today.
Further, All the indices were punished severely in trade today. However, technology stocks outperform with rupee’s fall as it breached the 60/USD level.
Dr Reddy's Laboratories disappointed on all parameters with the first quarter net profit growing lower-than-expected 7.44 percent year-on-year to Rs 361 crore.
GLOBAL FACE
Asian stocks edged up on Tuesday after China's central bank injected funds into money markets for the first time since February while the dollar index moved off a five-week low.
European stocks were higher, supported by the release of positive data out of German, while investors eyed highly anticipated policy statements by the Federal Reserve and ECB later in the week.
U.S. stocks pointed to a slightly higher open on Tuesday, as investors turned to the Federal Reserve's upcoming policy-setting meeting for indications on the future of the central bank's stimulus program.
MARKET TALKS
RBI Credit Policy: Leaves key rates unchanged.
The RBI in its first quarter (April-June, 2013-14) monetary policy left key rates unchanged. The repo, the rate at which banks borrow overnight money from the RBI remained at 7.25%. The reverse repo or the rate at which banks park their surplus money with the central bank stood at 6.25%. The cash reserve ratio or the portion of deposits banks keep with the RBI is at 4 %.
Dr Reddy's Labs Q1 disappoints, net up 7% to Rs 361 crore YOY.
Dr Reddy's Laboratories disappointed on all parameters with the first quarter net profit growing lower-than-expected by 7.44 percent year-on-year to Rs 361 crore. Revenues increased 12 percent to Rs 2,845 crore during April-June quarter from Rs 2,540.6 crore reported in a year ago period and EBITDA rose by 6 percent Y-o-Y to Rs 417 crore in first quarter.
NTPC Q1 net up on lower fuel cost, rev down 3%.
NTPC reported a marginal year-on-year rise in its June quarter profit to Rs 2527 crore as it managed to lower fuel cost. Sales, however shrunk over 3 percent year-on-year to Rs 15613 crore. EBITDA margins of the state-run firm came in at 27.3 percent as against 23.7 percent Y-o-Y. The firm managed to bring down its fuel cost by 11 percent Y-o-Y to Rs 9420 crore.
Havells India Q1 net up 18% to Rs 94.7 cr.
Electrical equipment manufacturer Havells India disappointed on all parameters with the first quarter standalone net profit rising lower-than-expected 18 percent year-on-year to Rs 94.7 crore. Total income from operations increased marginally to Rs 1,051.3 crore in April-June quarter from Rs 1,032.8 crore reported in a year ago period.
Reliance Power Q1 net up at Rs 240cr, revenues down.
Reliance Power 's first quarter consolidated net profit rose higher-than-expected to Rs 240 crore from Rs 239.5 crore in a year ago period, dented by higher interest and depreciation cost. Consolidated net sales declined marginally to Rs 1,123 crore from Rs 1,136 crore year-on-year.
AGRI REPORT 31ST JULY 2013
TURMERIC
Indian turmeric futures up on Tuesday after consolidation of Monday, this week opening of
turmeric was downward on Monday. And on Tuesday it was making upward movement and
take a resistance of 5220.
TREND: BEARISH
SUPPORT 1: 5050,
SUPPORT 2: 4960,
RESISTENCE 1: 5220,
RESISTENCE 2: 5282,
STRATEGY: SELL ON RISE.
SOYABEAN
Soyabean futures rose by more than 3% on Tuesday while gap down opening was there in the Tuesday morning. Now soyabean can take a turn back to upward on august starting days if break the resistance of 3055.
TREND: CONSOLIDATE
SUPPORT 1: 2940,
SUPPORT 2: 2880,
RESISTENCE 1: 2995,
RESISTENCE 2: 3030,
STRATEGY: BUY ON DIPS.
CHANA
Chana had some bullishness on Tuesday as this could be profit booking and some weather changes forecast was there. Chana if gap up open on Wednesday and break the resistance of 2785 then there could be a upward movement for next days.
TREND: CONSOLIDATE
SUPPORT 1: 2610,
SUPPORT 2: 2584,
RESISTENCE 1: 2760,
RESISTENCE 2: 2785.
STRATEGY: SELL ON RISE.
DHANIYA
Dhaniya is consolidating and made a low of 5092 on Tuesday after a strong downward movement on Monday. Dhaniya hit lower circuit of 4% on Monday and on Tuesday some profit booking was there and make a doubtful doji.
TREND: CONSOLIDATE
SUPPORT 1: 5135,
SUPPORT 2: 4945,
RESISTENCE 1: 5290,
RESISTENCE 2: 5435,
STRATEGY: SELL ON RISE.
DISCLAIMER
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do Company not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Use of this report in no way constitutes a client/advisor relationship, all information we communicate to you (the subscriber) either through our Web site or other forms of communications, are purely for informational purposes only. We recommend seeking individual investment advice before making any investment, for you are assuming sole liability for your investments. Capital Stars will in no way have discretionary authority over your trading or investment accounts. All rights reserved.
CONTACT US
MOB: +91 92000 99927
PHONE: +91 731 6662200
Email: info@capitalstars.com
0 Comments