19 AUGUST 2013 EQUITY REPORT
INDIAN FACE
INDIAN EQUITY BENCHMARKS bleeded after a weak start, as
jittery investors turned sellers on concerns over the
depreciating rupee and tapering of the monetary stimulus by
US Federal Reserve. The RBI's restrictions over foreign
exchange spending by individuals and also on overseas
investments by companies impacted market sentiment and
turned the day to be a Black Friday for the investors.
Further, Essar Oil was locked in upper circuit for sixth day in a
row, up 5% after reporting operating profit of Rs 1,106 crore
for the quarter ended June 30, 2013 (Q1), due to higher
realization.
The INDIAN RUPEE slipped to its all time low of Rs 62 in early
trade.
GLOBAL FACE
Asian stock markets traded lower on Friday ahead of some
potentially crucial data points due out later Friday from the euro
zone and the U.S.
European stocks were mixed to higher ahead of upcoming euro zone
data as ongoing uncertainty over the future of the Federal Reserve's
stimulus program continued to weigh on investor confidence.
U.S. stocks were moderately higher ahead of the release of U.S.
economic reports later in the day amid ongoing uncertainty over the
future of the Federal Reserve's stimulus program.
MARKET TALKS
Tata Motors global wholesales down 14% in July.
Tata Motors Ltd's global wholesale vehicle sales fell an annual 14
percent in July, as a sharp rise in the sales of its luxury Jaguar
Land Rover cars failed to offset sluggish passenger and
commercial vehicle sales. Tata Motors, part of India's salt-to-steel
Tata Group conglomerate, sold 87,566 vehicles in July.
Singapore Telecommunicationraises Bharti Airtel stake for $302.2 mn.
Singapore Telecommunications will increase its effective interest in
Bharti Airtel Ltd to 32.34 percent from 30.76 percent, paying around
S USD 383.6 million. SingTel, Southeast Asia's largest
telecommunication operator, has agreed to buy 788,538 shares, or
3.62 percent, of Bharti Telecom Ltd. Bharti Telecom holds
approximately 43.57 percent of Bharti Airtel.
RBI bars further overseas investments in Axis Bank.
The Reserve Bank of India (RBI) on Wednesday barred further purchases
of share in Axis Bank through stock exchanges in India
on behalf of Global Depository Receipt (GDR)/Asset Development
Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian
(NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional
Investors.
Orange County in California drags TCS to court.
India's largest software services exporter, Tata Consultancy Service
( TCS ), has been slapped with a lawsuit by Orange County in
California for making "a series of false promises and intentional
misrepresentations" during the bidding process for a contract. The
issue relates to a contract for development of a tax collection and
management system for Orange County in 2007-2008.
JK Tyre Q1 net surges over threefold to Rs 55cr
.
JK Tyre and Industries said that its consolidated net profit surged
over three-fold to Rs 55.26 crore for the first quarter ended June 30,
2013. The company had posted a net profit of Rs 16.44 crore
during the same period of previous fiscal. Net sales of the company
rose to Rs 1,866.94 crore for the first quarter.
AGRI REPORT
TURMERIC
Traders are buying mainly quality turmeric. Some exporters who have already obtained one or
two orders from North India are now exporting them. Farmers said that they are badly in need
of money and therefore, they are bringing huge stocks to sell them at prevailing prices.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4620,
SUPPORT 2: 4500,
RESISTENCE 1: 4992,
RESISTENCE 2: 5116,
STRATEGY: BUY ON DIPS.
SOYABEAN
Soybean prices rose in futures trade on the back of increased buying by traders, driven by firm
overseas markets cues. Reports of fall in production in the US, Argentina and Brazil raised hopes
of strong export demand, and encouraged speculators to enlarge thier positions in futures
trade.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 2975,
SUPPORT 2: 2897,
RESISTENCE 1: 3145,
RESISTENCE 2: 3180,
STRATEGY: BUY ON DIPS.
CHANA
Chana prices rose in futures trade today as traders enlarged their holdings on rising demand in
the spot market. Restricted arrivals in the physical market also influenced the market
sentiment. Traders said speculators increasing their holdings on hopes of rise in spot market
demand ahead of festivals against restricted arrivals of the commodity in the physical market.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2898,
SUPPORT 2: 2867,
RESISTENCE 1: 3035,
RESISTENCE 2: 3105.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya moved upward and chances of good buying trend by speculators in future trade in
dhaniya
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5667,
SUPPORT 2: 5611,
RESISTENCE 1: 5927,
RESISTENCE 2: 6012.
STRATEGY: BUY ON DIPS.
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.
INDIAN FACE
INDIAN EQUITY BENCHMARKS bleeded after a weak start, as
jittery investors turned sellers on concerns over the
depreciating rupee and tapering of the monetary stimulus by
US Federal Reserve. The RBI's restrictions over foreign
exchange spending by individuals and also on overseas
investments by companies impacted market sentiment and
turned the day to be a Black Friday for the investors.
Further, Essar Oil was locked in upper circuit for sixth day in a
row, up 5% after reporting operating profit of Rs 1,106 crore
for the quarter ended June 30, 2013 (Q1), due to higher
realization.
The INDIAN RUPEE slipped to its all time low of Rs 62 in early
trade.
GLOBAL FACE
Asian stock markets traded lower on Friday ahead of some
potentially crucial data points due out later Friday from the euro
zone and the U.S.
European stocks were mixed to higher ahead of upcoming euro zone
data as ongoing uncertainty over the future of the Federal Reserve's
stimulus program continued to weigh on investor confidence.
U.S. stocks were moderately higher ahead of the release of U.S.
economic reports later in the day amid ongoing uncertainty over the
future of the Federal Reserve's stimulus program.
MARKET TALKS
Tata Motors global wholesales down 14% in July.
Tata Motors Ltd's global wholesale vehicle sales fell an annual 14
percent in July, as a sharp rise in the sales of its luxury Jaguar
Land Rover cars failed to offset sluggish passenger and
commercial vehicle sales. Tata Motors, part of India's salt-to-steel
Tata Group conglomerate, sold 87,566 vehicles in July.
Singapore Telecommunicationraises Bharti Airtel stake for $302.2 mn.
Singapore Telecommunications will increase its effective interest in
Bharti Airtel Ltd to 32.34 percent from 30.76 percent, paying around
S USD 383.6 million. SingTel, Southeast Asia's largest
telecommunication operator, has agreed to buy 788,538 shares, or
3.62 percent, of Bharti Telecom Ltd. Bharti Telecom holds
approximately 43.57 percent of Bharti Airtel.
RBI bars further overseas investments in Axis Bank.
The Reserve Bank of India (RBI) on Wednesday barred further purchases
of share in Axis Bank through stock exchanges in India
on behalf of Global Depository Receipt (GDR)/Asset Development
Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian
(NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional
Investors.
Orange County in California drags TCS to court.
India's largest software services exporter, Tata Consultancy Service
( TCS ), has been slapped with a lawsuit by Orange County in
California for making "a series of false promises and intentional
misrepresentations" during the bidding process for a contract. The
issue relates to a contract for development of a tax collection and
management system for Orange County in 2007-2008.
JK Tyre Q1 net surges over threefold to Rs 55cr
.
JK Tyre and Industries said that its consolidated net profit surged
over three-fold to Rs 55.26 crore for the first quarter ended June 30,
2013. The company had posted a net profit of Rs 16.44 crore
during the same period of previous fiscal. Net sales of the company
rose to Rs 1,866.94 crore for the first quarter.
AGRI REPORT
TURMERIC
Traders are buying mainly quality turmeric. Some exporters who have already obtained one or
two orders from North India are now exporting them. Farmers said that they are badly in need
of money and therefore, they are bringing huge stocks to sell them at prevailing prices.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4620,
SUPPORT 2: 4500,
RESISTENCE 1: 4992,
RESISTENCE 2: 5116,
STRATEGY: BUY ON DIPS.
SOYABEAN
Soybean prices rose in futures trade on the back of increased buying by traders, driven by firm
overseas markets cues. Reports of fall in production in the US, Argentina and Brazil raised hopes
of strong export demand, and encouraged speculators to enlarge thier positions in futures
trade.
SOYABEAN TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 2975,
SUPPORT 2: 2897,
RESISTENCE 1: 3145,
RESISTENCE 2: 3180,
STRATEGY: BUY ON DIPS.
CHANA
Chana prices rose in futures trade today as traders enlarged their holdings on rising demand in
the spot market. Restricted arrivals in the physical market also influenced the market
sentiment. Traders said speculators increasing their holdings on hopes of rise in spot market
demand ahead of festivals against restricted arrivals of the commodity in the physical market.
CHANA (SEP.) TECHNICAL VIEW:
TREND: BULLISH
SUPPORT 1: 2898,
SUPPORT 2: 2867,
RESISTENCE 1: 3035,
RESISTENCE 2: 3105.
STRATEGY: BUY ON DIPS.
DHANIYA
Dhaniya moved upward and chances of good buying trend by speculators in future trade in
dhaniya
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5667,
SUPPORT 2: 5611,
RESISTENCE 1: 5927,
RESISTENCE 2: 6012.
STRATEGY: BUY ON DIPS.
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.
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