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Showing posts with label Mcx Market Tips. Show all posts
Showing posts with label Mcx Market Tips. Show all posts

Friday, March 29, 2019

What makes this smallcap a good value buy?


Himatsingka Seide (HSL), one of India’s largest home textile majors and exporters, draws our attention on account of improving business fundamentals. Conclusion of capex cycle by H1 FY20, higher contribution from branded products, an uptick in utilisation rates and undemanding valuations make us bullish on the stock.
Image 1
Q3 review
Positives
- Sales grew on the back of higher contribution from branded products (84 percent of Q3 sales)
- Gross and operating margins expanded noticeably because of a good product mix and full benefits of captive consumption (ie. yarn being utilised to manufacture bed sheets)
Negatives
- Forex losses resulted in other income declining sharply year-on-year (YoY)
- Depreciation and interest costs rose significantly YoY due to investments in the terry towel plant
- Tax rate increased marginally YoY
- The above factors led to a marginal reduction in PAT (profit after tax) margins
Why consider investing?
Capex intensity is waning
By September 2019, HSL’s terry towel facility is likely to be set up. Post this, barring regular maintenance capital expenditure, there is no big expansion plan.
Depreciation and financing charges, that rose noticeably in the past 4 quarters due to investments in the terry towel project, are likely to reduce from H2 FY20 onwards. This is because impetus will be laid on debt repayment. Consequently, bottom-line margins, working capital cycle and cash flows should improve.
Utilisation rates are likely to go up
In Q3 FY17, HSL expanded its bed sheet manufacturing capacity from 23 mmpa (million metres per annum) to 46 mmpa. Utilisation levels in respect of both (ie. original and new capacity) are stable at the moment. As the company’s order book (particularly for branded products) grows, there will be a corresponding uptick in manufacturing activities. This, in turn, should help achieve operating leverage.
Debottlenecking of bed sheet manufacturing capacity has been concluded in Q3 FY19, thereby resulting in an increase in capacity to the tune of 15 mmpa. This new capacity will be utilised for manufacturing products that yield lower realisations, implying that sales growth, to this extent, will be volume-driven.
Once the terry towel facility becomes operational, utilisation levels should start moving up too.
Sale of branded products on an uptrend
In 9M FY19, brands constituted about 85.6 percent of the top-line as against 71 percent in FY18. HSL’s own brands are making their presence felt in the financials.
Image 4
HSL will complete integration of manufacturing processes of the Tommy Hilfiger brand by Q4 FY19-end.
Rights to sell ‘Calvin Klein Home’ products globally have been acquired. Previously, HSL could sell products only in North America.
Since branded products, especially own brands and fashion bedding variants, command better realisations vis-a-vis their unbranded counterparts, HSL’s margins should start moving up gradually.
Risks
To mitigate risks associated with regional concentration, HSL is exploring markets in Europe and Asia. Nevertheless, at the moment, the US market alone comprises nearly 85-90 percent of HSL’s annual top-line. Therefore, Trump’s actions of withdrawing the preferential trade treatment granted to Indian exporters may affect the company’s future revenue visibility.
Indian Rupee’s appreciation vis-à-vis the US dollar would impact product realisations to the extent of unhedged cash flows. Raw material (cotton) costs are not showing any signs of moderation as of now.
Competitive pressure from nations such as Pakistan, Vietnam and Bangladesh continues to persist.
Signs of consumption slowdown in international markets can hit the order book.
Outlook
HSL’s stock price has been on a downward spiral during the course of the last 12 months. This is primarily on account of market volatility and YoY dip in PAT (profit after tax) margins since the last 3 quarters.
After a sharp 47 percent correction from its 52-week high, the stock trades at an undemanding 6.7 times its FY21 projected earnings. This makes it a good value buy.
However, it is pertinent to note that any meaningful re-rating in HSL’s valuation multiples may be seen only from H2 FY20.
Source:https://www.moneycontrol.com/news/business/moneycontrol-research/ideas-for-profit-what-makes-this-smallcap-a-good-value-buy-3724171.html

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Thursday, March 28, 2019

Nifty around 11,500, Sensex up over 100 points; IT stocks lead

Market Opens: It is good start for the Indian indices on Thursday with Nifty above 11,450 level.
At 09:17 hrs IST, the Sensex is up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. About 510 shares have advanced, 281 shares declined, and 31 shares are unchanged. 
Zee Ent, HCL Tech, Tech Mahindra, Infosys, Indiabulls Housing, Yes Bank, HPCL, BPCL, IOC, GAIL, Eicher Motors are among major gainers, while losers are Tata Motors, ONGC, JSW Steel, IndusInd Bank, Power Grid, Cipla, HDFC Bank and Tata Steel.
Except metal, auto and pharma, all other sectoral indices are trading with marginal gain.
Rupee Opens: The Indian rupee opened lower by  24 paise at 69.11 per dollar on Thursday versus previous close 68.87.
Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-11500-sensex-up-over-100-points-it-stocks-lead-3714661.html

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Tuesday, March 26, 2019

Closing bell: Sensex jumps 424 pts, Nifty ends tad below 11,500; RIL, banks lead

Market Closing
Benchmark indices rebounded sharply after falling in previous two straight sessions, driven by banking & financials, and index heavyweight Reliance Industries.
The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.
The Nifty Midcap index also gained over a percent but the market breadth was not so great.
About 1,377 shares advanced against 1,286 declining shares on the BSE.
NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.
Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-jumps-424-pts-nifty-ends-tad-below-11500-ril-banks-lead-3700331.html

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Larsen & Toubro gains after hydrocarbon engineering division bags order


Larsen & Toubro shares gained nearly a percent in the morning trade on March 26 after its hydrocarbon engineering division bagged an order in Oman.
The stock was quoting at Rs 1,381.75, up Rs 4.55, or 0.33 percent on the BSE, at 1012 hours IST.
"The wholly-owned subsidiary L&T Hydrocarbon Engineering Limited has won a large order from Tawfiq Coke Products-Oman," the engineering and construction major said in its exchange filing.
The contract scope includes the selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke.
"This award will further reinforce L&T's operations in Oman and provide an opportunity to contribute to the expansion of industrial facilities in Sohar," the company said.

Source:https://www.moneycontrol.com/news/business/markets/larsen-toubro-gains-after-hydrocarbon-engineering-division-bags-order-3700871.html

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Monday, March 18, 2019

Closing Bell: Nifty ends above 11,450, Sensex gains 70 points; OMCs gain

Market close: The last hour buying helped the market to end higher on Monday with Nifty finished above 11,450 level.
At the close, the Sensex was up 70.75 points at 38095.07, while Nifty was up 35.30 points at 11462.20. About 1132 shares have advanced, 1545 shares declined, and 173 shares are unchanged. 
HPCL, IOC, Bajaj Finance, BPCL and JSW Steel were the top gainers on the Nifty, while losers include Maruti Suzuki, Hero Motocorp, Wipro, Bharti Airtel and HCL Tech.
Among the sectors, IT and auto index remained under pressure throughout the day as they slipped 1 percent each, while some buying was seen in the metal, energy, FMCG and bank names.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11450-sensex-gains-70-points-omcs-gain-3656321.html

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Friday, March 15, 2019

Closing Bell: Sensex ends 269 points higher, Nifty above 11,400; IT stocks outshine

Market at close: Benchmark indices ended higher but off day's high on the back of last hour selling pressure.
The Sensex was up 269.43 points at 38024.32, while Nifty was up 83.60 points at 11,426.90. About 1172 shares have advanced, 1452 shares declined, and 162 shares are unchanged. 
Among the gainers, Kotak Mahindra Bank rose 4%, followed by Power Grid Corp, TCS, ICICI Bank and SBI, while on the other hand HUL shed 2 percent, followed by Yes Bank, RIL, Bharti Airtel and ITC on the Sensex.
On the sectoral front, IT index has outperformed the other indices with nearly 2 percent gain followed by auto, infra, metal and pharma, while selling was seen in the FMCG space.
Nifty Bank continued its upward momentum as it ended 1.6 percent higher at 29381.50.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-269-points-higher-nifty-above-11400-it-stocks-outshine-3649211.html

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MCX Support and Resistance Level


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Monday, March 11, 2019

Nifty ends above 11,150, Sensex gains 382 pts; metal stocks outperform

Market at close: Indices ended on strong note on Monday as bulls took charge of the Dalal Street with Sensex closed above 37,000, while Nifty finished above 11,150 mark.
The Sensex was up 382.67 points at 37054.10, while Nifty was up 132.60 points at 11168. About 1735 shares have advanced, 911 shares declined, and 163 shares are unchanged. 
Bharti Airtel, HPCL, BPCL, Eicher Motors and Bharti Infratel were the top gainers on the Nifty, while losers include NTPC, Zee Entertainment, TCS, Tech Mahindra and HCL Tech.
Except IT index, all other sectoral indices ended in green led by auto, energy, infra, metal, PSU bank, pharma and FMCG.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11150-sensex-gains-382-pts-metal-stocks-outperform-3629741.html

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MCX SUpport and Resistance Level


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Friday, March 8, 2019

Closing bell: Nifty holds 11,000 on a rangebound day, Sensex marginally lower

The market closed off its lows amid rangebound session due to lack of cues.
The 30-share BSE Sensex was down 53.99 points at 36,671.43 and the Nifty50 fell 22.80 points to 11,035.40.
Tata Motors, Wipro, HCL Technologies, Tata Steel, Hindalco and Maruti Suzuki were down 1-4 percent while Bajaj Auto and Eicher Motors gained over a percent each.
The broader markets also ended in the red. Nifty Midcap index was down 0.2 percent.
Arvind was down 5 percent, but its subsidiary Arvind Fashions rallied 5 percent on day 1.
Dish TV, Jain Irrigation, Firstsource and Reliance Infrastructure were down 2-4 percent. However, Granules India, Gujarat Gas, Just Dial, ICICI Prudential and Reliance Nippon gained 3-7 percent.
Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-holds-11000-on-a-rangebound-day-sensex-marginally-lower-3622361.html

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Saturday, March 2, 2019

February keeps up box office momentum in 2019 with business of over Rs 300 crore


While January set the pace for Bollywood in 2019 with collections in the range of Rs 300- Rs 350 crore, February is maintaining the momentum with revenues to the tune of Rs 310 crore. And this is despite no holiday advantage and an added pressure of school examinations.
The month saw films like multi-starrer comedy flick Total Dhamaal and musical drama Gully Boy scoring high at the box office. For the Ranveer Singh-starrer Valentine's Day boosted the film's growth with the film having all the ingredients to attract the young audience.
On the day of love the film grabbed as much as Rs 19.40 crore which is close to 20 percent of the film's week one total. The right content at the right time helped Gully Boy enter the Rs 100 crore club in eight days.
On the other hand, the third installment in the Total Dhamaal franchise clicked with the family audience and managed Rs 99.30 crore in its first week.
Film trade experts are confident that Total Dhamaal will cross Rs 100 on day nine. Its overseas total also stands strong with a business of Rs 30.95 crore in seven days of its release.
While the film faced strong competition from the new release Luka Chuppistarring Kartik Aaryan and Kriti Sanon on day eight, it is still gathering steam.
Looking at Total Dhamaal's solid hold in theatres, film trade analyst Taran Adarsh said that contribution from mass pockets and single screens should not be overlooked and more movies that hold pan-India appeal should be made to expect ache din for trade.
With Total Dhamaal maintaining its rhythm and Luka Chuppi packing up strong revenues, it looks like the genre of comedy will keep the entertainment quotient high even in the month of March.
The other two releases during this month Amavas and Ek Ladki ko Dekha toh Aisa Laga did not contribute much to the overall collections as the former added only Rs 2.85 crore and the latter earned Rs 20 crore.  
But the month had something interesting to celebrate and that was Uri: The Surgical Strike trending even in its seventh week. The spillover effect of Uri added around Rs 66 crore to the grand total and the film yet shows no signs of slowing down despite competition from new releases and holdovers.
Down south a handful of films kept the audience entertained. Out of 10 releases from Tamil and Telugu industries together, RJ Balaji-starrer LKG made waves at the box office.
Reports estimate the film’s collection from the Tamil Nadu market at around Rs 10 crore and worldwide numbers at Rs 16 crore. LKG opened in theatres on February 22.
Telugu film NTR Mahanayakudu despite receiving positive reviews from critics could not hold strong at the box office. Its business in Andhra Pradesh and Telangana market remained disappointing as it could gather Rs 304 lakh by the end of four days of its theatrical run in the two territories.  
As for Hollywood, February saw some decent business coming from James Cameron’s Alita: The Battle Angelthat minted over Rs 8 crore total in India. However, it will be Captain Marvel that will up the interest amid the fan-base for Hollywood films in India.
Source:

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Thursday, February 28, 2019

Nifty above 10,800, Sensex up 100 pts; IOC, Sun Pharma top gainers

Market Opens: It is a strong start for the indices on Thursday with Nifty trading around 10,850 level.
At 09:18 hrs IST, the Sensex is up 139.66 points at 36045.09, while Nifty is up 40.90 points at 10847.60. About 525 shares have advanced, 138 shares declined, and 33 shares are unchanged. 
Tata Metaliks, Future Retail, Yes Bank, Tata Motors, Coal India, Adani Ports, Quick Heal, Motherson Sumi, Balrampur Chini, Maruti Suzuki are among major gainers on the indices, while losers are ONGC, Wipro, Indiabulls Housing, Jet Airways, Odisha Cement, TCS and HCL Tech.
All the sectoral indices are trading in green led by PSU bank, auto, energy and FMCG.
Rupee Opens: The Indian rupee opened lower at 71.26 per dollar on Thursday versus Wednesday's close 71.22.
Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-above-10800-sensex-up-100-pts-ioc-sun-pharma-top-gainers-3591771.html

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Thursday, February 7, 2019

Closing Bell: Sensex, Nifty end flat on policy day; Sun Pharma, Zee Ent gain 4% each

Market at close: Benchmark indices ended flat on Thursday with Nifty ended above 11,000 level.
RBI in its MPC meeting has cut repo rate by 25 bps at 6.25 percent.
The Sensex was down 4.14 points at 36971.09, while Nifty was up 6.90 points at 11069.40. About 1377 shares have advanced, 1145 shares declined, and 164 shares are unchanged. 
Zee Entertainment, Sun Pharma, Eicher Motors, Bharti Infratel and Bajaj Auto are the top gainers on the Nifty, while losers include JSW Steel, Reliance Industries, L&T, Hindalco and Power Grid. 
Among the sectors, auto, FMCG, IT and pharma index saw some buying interest, while energy and infra index remain under pressure.
Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-nifty-end-flat-on-policy-day-sun-pharma-zee-ent-gain-4-each-3494811.html

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Closing Bell


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Closing Bell: Sensex ends 192 pts lower, Nifty below 11,600 even as RBI cuts rate

Market at close:  Benchmark indices ended lower but off day's low after Reserve Bank of India (RBI) slashed repo rate by 25 bps to 6...