DAILY EQUITY REPORT 12THAUGUST 2013
INDIAN FACE
INDIAN EQUITY BENCHMARKS rebounded after snapping its
two-day losing streak on emergence of buying support amid
rupee gaining strength and global markets witnessing positive
trends
Further, RANBAXY LABORATORIES zoomed 28% after healthy
US business growth which grew by 29%at Rs 770 crore in the
June’13 quarter, as compared to Rs 595.6 crore clocked in the
March’13 quarter. BHARAT FORGE moved higher by nearly
17% after reporting a net profit of Rs 91 crore.
DLF also moved higher by over 5% on reports that the real
estate developer is looking to sell its under-construction IT
special economic zone project in Pune to for an anticipated Rs
250 crore.
GLOBAL FACE
Asian stock markets were mixed during late Asian trade on
Thursday, with shares in mainland China and Hong Kong edging
higher following the release of upbeat trade data out of China.
European stocks surged higher after the release of positive German
trade balance data, although ongoing uncertainty over the future of
the Federal Reserve's stimulus program continued to weigh.
U.S. stock futures pointed to a higher open on Thursday, as investors
eyed the release of U.S. jobless claims data later in the day, amid
ongoing speculation over whether the Federal Reserve will soon
scale back its stimulus program.
MARKET TALKS
Adani Enterprises posts Q1 loss at Rs 278 cr on forex loss.
Adani Enterprises posted a net loss of Rs 278 crore during AprilJune quarter as against net profit of Rs 402.9 crore impacted by higher forex loss and weak power business. Quarterly financial performance has been adversely affected due to sudden currency volatility and continuing constraints of coal availability, transmission bottleneck and tariff related issues in the power business.
IRB Infra Q1 net profit down 5% to Rs 135 cr, sales up 5%.
IRB Infrastructure's consolidated net profit fell 5 percent year-onyear to Rs 135 crore in the April-June quarter, but income from
operations rose over 5 percent Y-o-Y to Rs 1,033 crore.
Consolidated earnings before interest, tax, depreciation and
amortisation (EBITDA) was up 7 percent to Rs 455 crore in first
quarter.
Bharat Forge Q1 earnings weak, but beats expectation.
Bharat Forge reported weak performance during April-June quarter,but that was better than analysts' forecast, sending shares more
than 11 percent higher. Net profit fell 13.9 percent year-on-year (up
80.8 percent sequentially) to Rs 90.6 crore in first quarter. Revenue
declined 15.5 percent on yearly basis (up 17.3 percent Q-o-Q) to
Rs 791.6 crore during June quarter.
Jet Airways had hard landing in Q1 with Rs 355 cr loss.
Private carrier Jet Airways has swung into Rs 355 crore loss in
June quarter on higher forex loss and poor margins While forex loss
rose 11 percent year-on-year to Rs 763 crore, margins fell to 2.4
percent from over ten percent. Sales also declined around 13
percent to Rs 4005 crore Y-o-Y.
Gujarat Gas Q2 Net jumps 91% to Rs 101 crore.
Gujarat Gas reported 91.2 percent jump in net profit at Rs 101.13
crore in the second quarter ended June 30, 2013. Gujarat Gas is a
subsidiary of GSPC Distribution Network Ltd (GNDL), which
recently acquired 73.70 percent stake in the firm. The company,
earlier a subsidiary of BG Group, had reported a net profit of Rs
52.88 crore in the corresponding period a year ago.
DAILY AGRI REPORT
TURMERIC
Indian turmeric futures rose on value buying after prices hit a contract low in the previous
session, while concerns over the quality of the crop in some areas due to excess rains
supported the upside.
TURMERIC (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 4760,
SUPPORT 2: 4620,
RESISTENCE 1: 4988,
RESISTENCE 2: 5098,
STRATEGY: BUY ON DIPS.
MENTHA OIL
Mentha oil slide for the third straight day in futures market today on weak demand in the spot
market amid higher supplies from producing region. Weak demand from consuming industries
in the spot market, higher supplies on increased arrivals from Chandausi in Uttar Pradesh
mainly led a downtrend in futures trade.
MENTHA OIL TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 840,
SUPPORT 2: 831,
RESISTENCE 1: 863,
RESISTENCE 2: 871,
STRATEGY: SELL ON RISE.
CHANA
Chana prices in futures trade today as speculators reduced their positions on sluggish demand
in the spot market against adequate supplies from producing region.
CHANA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 2735,
SUPPORT 2: 2718,
RESISTENCE 1: 2780,
RESISTENCE 2: 2807.
STRATEGY: SELL ON RISE.
DHANIYA
Dhaniya is consolidating after three days upside movement. There was very less movement on
Thursday. There may be more buying by speculators in future trade in dhaniya.
DHANIYA (SEP.) TECHNICAL VIEW:
TREND: CONSOLIDATE
SUPPORT 1: 5480,
SUPPORT 2: 5431,
RESISTENCE 1: 5605,
RESISTENCE 2: 5668,
STRATEGY: BUY ON DIPS.
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