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Showing posts with label Trade India Research. Show all posts
Showing posts with label Trade India Research. Show all posts

Monday, July 9, 2018

Indian rupee gains 30 paise Vs dollar in early trade at 68.57


The Indian rupee gained in the opening trade on Monday. It has open higher by 30 paise at 68.57 per dollar versus 68.87 Friday.

The dollar-rupee July contract on the NSE was at 69.05 in the previous session. July contract open interest declined 2.44% in the previous day, said ICICIdirect.

We expect the USD-INR to meet resistance at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Friday, July 6, 2018

TCS hits fresh record high; brokerages betting on strong Q1 earnings growth


TCS, which alone constitutes 40 percent of the sector’s PAT, will derive 60 percent of incremental profits in 1QFY19, according to analyst estimates

TCS created history on Friday as it touched a fresh record high above Rs 1,900 per share, supported by expectations of strong growth in the June quarter and depreciation in the rupee against the dollar.

The IT bellwether hit a fresh record high of Rs 1,916.15 per share on the BSE. The stock has been in an uptrend in 2018, up over 40 percent in the first six months. Indian largest software exporter holds the tag of India’s most valued company with a market capitalisation of Rs 7.2 lakh crore, followed by Reliance Industries, HDFC Bank, ITC, and HDFC.

TCS reported a 5.7 percent sequential rise in net profit in its fourth quarter to Rs 6,904 crore, beating analyst expectations in the March quarter. Revenue for the quarter rose 3.8 percent sequentially to Rs 32,075 crore for the quarter-ended March 31.

Brokerages expect over 3 percent sequential growth for the June quarter, above peers such as Infosys and HCL Technologies.

Jefferies said TCS may report a 3.8 percent quarter-on-quarter constant currency growth in Q1. It added that Wipro and Tech Mahindra may lag with just 1-1.2 percent decline and Infosys and HCL Technologies in between. “The cross-currency impact should drag reported QoQ dollar growth by another 90-150 bps. The weakness in margin on wage hike and visa costs should be offset by depreciation in the rupee.”

TCS, which alone constitutes to 40 percent of the sector’s profit after tax, will derive 60 percent of incremental profits in Q1 FY19, it estimated. “Bottoming cyclical pressures and improved capital allocation are factors that will feed into valuation multiples favourably, whereas currency keeps earnings growth ticking further.”

Motilal Oswal said in a recent report that barring banking and financial services and retail, all segments for TCS were growing in healthy single or double-digits, on the back of revival in retail and a slew of large deal announcements “We expect 3.3% QoQ CC growth in Q1. This signifies an acceleration compared to the 2 percent QoQ CC growth witnessed in Q4 FY18.”

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Source:https://www.moneycontrol.com/news/business/stocks/tcs-hits-fresh-record-high-brokerages-betting-on-strong-q1-earnings-growth-2679521.html

INTERNATIONAL MARKET UPDATE


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NCDEX SUPPORT & RESISTANCE LEVEL


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Market Live: Nifty above 10,750, Sensex up 60 pts; RIL, Infosys, TCS positive contributors


Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 26.5 points or 0.25 percent. Nifty futures were trading around 10,731-level on the Singaporean Exchange.

Varroc Engineering shares list with 5% permium: Auto component maker Varroc Engineering started off trade at Rs 1015 on the first day Friday. The stock price gained 5 percent against the issue price of Rs 967.

At 10:03 hours IST, it was trading at Rs 1012.95, up 4.75 percent on the NSE.

The Rs 1,955-crore initial public offering was oversubscribed 3.59 times during June 26-28, driven by strong interest from institutional investors.

The price band for the issue, which consisted of an offer-for-sale of 2,02,21,730 equity shares by promoter Tarang Jain and existing investors which are Tata Group companies - Tata Capital Financial Services and Omega TC Holdings, was Rs 965-967 per share.

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Source:https://www.moneycontrol.com/news/business/markets/market-live-nifty-above-10750-sensex-up-60-pts-ril-infosys-tcs-positive-contributors-2678311.html

Thursday, July 5, 2018

Closing Bell (5 July 2018)


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Petrol, diesel rise for 16th consecutive day; Mumbai, Delhi prices at record high


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Petroleum Minister Dharmendra Pradhan had earlier said that the government will intervene to reduce prices.

Petrol and diesel prices continue to soar and touched another peak on May 29. Petrol was hiked by 16 paise to Rs 86.24 per litre in Mumbai.

This is the 16th straight hike in a row. Diesel prices on the other hand, were hiked by 15 paise to Rs 73.79 per litre in Mumbai. Petrol prices in Delhi were increased by 16 paise to Rs 78.43 per litre and diesel by 14 paise to Rs 69.31 per litre.

Since the dynamic pricing system resumed on May 14, petrol and diesel prices have risen by Rs 3.8 and Rs 3.38 respectively in the last 16 days in Delhi.

Petroleum Minister Dharmendra Pradhan had earlier said that the government will intervene to reduce prices.

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Reliance AGM LIVE: RIL may commercially launch broadband service JioFiber


The company is set to hold its 41st AGM since it got listed on the bourses. The market will be closely watching the management's commentary. Please stay tuned for live updates.

Reports suggest that Reliance Industries could commercially launch its broadband service JioFiber at the AGM today. The service has created quite the buzz already and is expected to give users 100 Mbps of speed for 90 days for usage of up to 100 GB of data.

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Source: https://www.moneycontrol.com/news/business/reliance-agm-live-ril-may-commercially-launch-broadband-service-jiofiber-2673211.html

Opening Bell (5 July 2018)


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Wednesday, July 4, 2018

Closing Bell (4 July 2018)



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Market Live: Nifty at day's high, Sensex up over 250 pts; Bajaj Auto, Bharti Infratel top gainers


HDFC Bank, HDFC and Reliance Industries lifted the market higher.

The market is trading at day's high with the Sensex rising more than 200 points, backed by HDFC twins and Reliance Industries. The rally is also after the Cabinet Committee approval the proposal to raise minimum support price for kharif crops.

The Nifty is trading firmly above 10,750 levels while the Nifty Midcap index continued to underperform frontliners.

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Source:https://www.moneycontrol.com/news/business/markets/market-live-nifty-at-days-high-sensex-up-over-250-pts-bajaj-auto-bharti-infratel-top-gainers-2667561.html

Market Live: Sensex up 150 pts despite global weakness; HDFC twins, RIL lead


Asian markets are under pressure amid trade tensions.

European stocks were slightly lower Wednesday morning, amid elevated tensions between the US and China over looming trade tariffs and investment restrictions.

France's CAC, Germany's DAX and Britain's FTSE fell 0.1-0.4 percent.

Market focus is largely attuned to the ongoing US-Sino trade row, with investors concerned that the dispute could soon derail a rare period of synchronized global growth. At the end of the trading week, Washington is set to impose tariffs on $34 billion worth of goods from Beijing. China is then expected to respond with charges of its own on US products.

In Asia, equities slipped amid escalating fears of a full-blown trade war. MSCI’s broadest index, excluding Japan, edged around 0.3 percent lower on Wednesday, reports CNBC.

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INTERNATIONAL MARKET UPDATE


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Tuesday, July 3, 2018

Market Live: Sensex rises over 100 pts, Nifty above 10,700; Vedanta, Bharti Infratel top losers


Asian stocks traded lower, with China's Shanghai Composite falling further amid trade tensions

The market is off its day's high in afternoon as investors closely monitor trade developments between the US and China, and also await June quarter earnings season that will be kicked off next week.

The 30-share BSE Sensex gained 82.58 points at 35,346.99 and the 50-share NSE Nifty rose 29 points to 10,686.30.

The sectoral trend was mixed with the Nifty Pharma index rising 1.5 percent and Auto a percent.

Reliance Industries, Infosys and TCS are supporting the market whereas the selling pressure in ICICI Bank and HDFC twins cap market gains.

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Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-rises-over-100-pts-nifty-above-10700-vedanta-bharti-infratel-top-losers-2662741.html

MCX SUPPORT & RESISTANCE LEVEL


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Indian rupee opens lower by 9 paise at 68.89 per dollar


Yesterday rupee closed near five-year low at 68.80 per dollar. It ended lower by 33 paise against Friday's close 68.47

The Indian rupee opened lower by 9 paise at 68.89 per dollar on Tuesday.

Yesterday rupee closed near five-year low at 68.80 per dollar. It ended lower by 33 paise against Friday's close 68.47 .

This is the level last seen on August 28, 2013.

Yesterday rupee gained in the first half of the session but came under pressure in the latter half of the session following strength in the dollar against its major crosses and higher global crude oil prices. Yesterday, crude rallied after Libya declared force majeure on some of its supplies, although an overall rise in OPEC output and an emerging slowdown in demand held back markets, said Motilal Oswal.

Libya’s National Oil Corporation declared force majeure on loadings from Zueitina and Hariga ports, resulting in total production losses of 850,000 bpd due to the closure of eastern fields and ports. Today, USD-INR pair is expected to quote in the range of 68.80 and 69.30, it added.

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Source:https://www.moneycontrol.com/news/business/markets/indian-rupee-opens-lower-by-9-paise-at-68-89-per-dollar-2662721.html

Opening Bell (3 July 2018)


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Monday, July 2, 2018

TVS Motor June sales increase 15% to 3.13 lakh units, beat expectation


The company said its 2-wheeler sales increased 12.1 percent year-on-year to 3.01 lakh units and scooter sales jumped 13.6 percent to 1.02 lakh units.

TVS Motor Company sold 3.13 lakh units in the month of June 2018, a growth of 15 percent compared to 2.73 lakh units sold in year-ago month.

The total sales were ahead of Nomura expectation of 2.99 lakh units.

The company said its 2-wheeler sales increased 12.1 percent year-on-year to 3.01 lakh units and scooter sales jumped 13.6 percent to 1.02 lakh units.

Exports during the month grew by 48.6 percent to 65,971 units while 3-wheeler sales shot up 140.9 percent to 12,413 units compared to year-ago month.
At 14:54 hours IST, the stock price was quoting at Rs 558.80, up Rs 6.50, or 1.18 percent on the BSE.

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Source:https://www.moneycontrol.com/news/business/markets/tvs-motor-june-sales-increase-15-to-3-13-lakh-units-beat-expectation-2659931.html

MCX SUPPORT & RESISTANCE LEVEL



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Saturday, June 30, 2018

July 1st to be celebrated as ‘GST Day'


The first year of GST has been an example to the world of the readiness of the taxpayers to be a partner in the unprecedented reform in Indian taxation, the finance ministry said today. The government will celebrate July 1, 2018, as 'GST Day' to mark the first anniversary of the new indirect tax regime.

Goods and Services Tax (GST) was rolled out in the intervening night of June 30 and July 1, last year, in a ceremony held in the Central Hall of Parliament.

"Union Minister for Railways, Coal, Finance & Corporate Affairs Piyush Goyal will preside over as the Chief Guest of the event and Minister of State for Finance, Shri Shiv Pratap Shukla will be the Guest of Honour,” the finance ministry said in a statement.


GST subsumed over a dozen local levies and transformed India into "one nation, one Tax" and binds the country into an Economic Union, it added.

"The first year of GST has been an example to the world of the readiness of the Indian taxpayer to be a partner in this unprecedented reform of Indian taxation," the ministry said.

It said the introduction of e-way (electronic way) bill is a "monumental shift" from the earlier ‘Departmental Policing Model' to a ‘Self-Declaration Model'.

"It envisages one e-way bill for movement of the goods throughout the country, thereby ensuring a hassle free movement of goods throughout the country," the ministry said.

Transporter of goods worth over Rs 50,000 have to generate an e-way bill and show it to GST inspector, if asked. The inter-state e-way bill system was introduced on April 1. As regards intra-state e-way bill, it was rolled out in phases from April 15.

"GST will have a multiplier effect on the economy with benefits accruing to various sectors such as exporters, small traders and entrepreneurs, agriculture and industry, common consumers," the ministry said.

Any new change is accompanied by difficulties and problems at the outset, it said.

"A change as comprehensive as GST is bound to pose certain challenges not only for the government but also for business community, tax administration and even common citizens of the country," the ministry added.

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Source: https://www.moneycontrol.com/news/trends/current-affairs-trends/july-1st-to-be-celebrated-as-gst-day-2655011.html

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...