Stock Market Corner

Stock Corner

1.                   The GST Anti-Profiteering Body ruled that Hindustan Unilever (HUL) profiteered to the extent of Rs535cr against the company’s claim of Rs160 crore.

2.                   Vedanta said it will set up a new steel plant in Jharkhand with a capacity of 4.5 mn tonne (MT) per annum at an investment of $3-4 bn.

3.                   Autoline Industries entered into MOU with Poddar Habitat to transfer land at Chakan, Pune. The company will utilize the sale proceeds to settle debt that has a charge on the above said immovable property and reduce overall debt exposure of the company.

4.                   Suprajit Engineering expects second half of current financial year to be better. Consolidation of auto component space to gather pace; open for both strategic asset purchases and acquisition.

5.                   Vadilal Industries defers limited review report. The company said audit committee and board of directors have not been able to conclude on certain matters.

6.                   Nagarjuna Fertilizers said that the company it is in process of a long-term debt resolution with its lenders. It has also restarted production of Urea from Unit 1 of Kakinada plant.

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Stock Market Corner

Stock Corner

1.                   Reliance Industries clarified on the news regarding Department of Telecommunications rejecting Reliance Communication-Jio spectrum deal stating that a correspondence was received by the company from DoT on Dec. 18 with respect to application and the company is seeking appropriate clarifications in this regard.

2.                   Canara Bank board decided to raise additional Tier I capital through Basel III compliant additional Tier I perpetual bonds in rupee terms for an amount not exceeding Rs3,000cr in single tranche or in multiple tranches, depending on the market conditions & subject to necessary approvals.

3.                   Uflex launched three packaging foil solutions for pharma companies. Executive Director Amitava Ray said that the ‘fast tear strip’ foil will prove to be a game-changer for the pharma industry globally and they saw a potential growth market of 5,000 tons annually in India.

4.                   Coal India seeks to buy coking coal mines in Australia and Canada. The state run-miner has identified “certain assets’, which are under different stages of due diligence, Coal Minister Piyush Goyal tells lawmakers in a written reply to questions, as per media reports.

5.                   Tata Consultancy Services launched Cloud Solutions Program in Canada. This solution provides cloud infrastructure and secured functioning between premise and public cloud environment.

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Stock Market Corner

Stock Corner

1.                   Shares of liquor companies were in focus with United Breweries and Globus Spirits rallying up to 8 per cent, on the expectations of higher volume growth in the current quarter(October-December).

2.                   Shares of liquor companies were in focus with United Breweries and Globus Spirits rallying up to 8 per cent on the BSE, on the expectations of higher volume growth in the current quarter(October-December).

3.                   Shares of Zee Entertainment Enterprises (ZEE) dipped 6% to Rs 474 per share, their sharpest intra-day fall on the BSE in past two months as growth trends in over-the-top (OTT) content and concerns related to the rise in cost may hit the profitability of the company.

4.                   Shares of Bombay Dyeing & Mfg Company hit the upper circuit of 5 per cent after the textile company decided to shut down its loss-making Indonesian subsidiary PT Five Star Textile Indonesia (PTFS).

5.                   Graphite India stock in focus today. Karnataka State Pollution Control Board renewed the consent to operate for graphite electrode plant in Bengaluru for a period up to June 30, 2020 only with the condition to shift the unit from the existing location.

6.                   Tata Steel and Thyssenkrupp AG’s European joint venture will be headed by the latter’s steel division chief Andreas Goss, who will also chair the management board.

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Stock Market Corner

Stock Corner

1.                   Indian Oil to consider buyback and dividend on Dec 13.

2.                   Syndicate Bank reduced MCLR by five basis points across the six-month and one-year tenure instruments with effect from Dec 10.

3.                   Sugar companies like Balrampur Chini, Dhampur Sugar, EID Parry, Dalmia Bharat Sugar, and others will be in focus as Oil Ministry said that the ethanol blending in petrol would double to 8%.

4.                   Escorts transferred RT Crane business to its JV company with Japan-based Tadano for Rs35cr, on a slump sale basis.

5.                   Axis Bank appointed Amitabh Chaudhry as an additional director of the bank.

6.                   HEG said that there could be a window of opportunity to export graphite electrodes to China till 2022.

7.                   Tata Sponge received environmental clearance to hike production capacity of direct reduced iron plant to 4.65lakh TPA.

8.                   United Breweries’ CFO and Director Steven Bosch resigned from the company with effect from Jan 01, 2019.

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Stock Market Corner

Stock Corner

1.                   Shares of YES Bank have dipped 6.5% to Rs 192 per share on Tuesday, erasing almost its entire Monday’s 7% gain on BSE, after the bank’s independent director Rentala Chandrashekhar put in his papers.

2.                   Shares of metal companies were under pressure with Hindalco Industries and Jindal Steel & Power (JSPL) falling 5% each, while National Aluminum, Tata Steel, Vedanta, Steel Authority of India (SAIL) and JSW Steel were down 2% to 3% on the NSE, due to macro concerns.

3.                   Shares of Adani Gas have surged 14% to Rs 88.70 per share, their highest level since listing earlier this month, on the back of heavy volumes on the BSE after the stock shifted to normal trading segment with effect from today from the restricted segment.

4.                   Shares of Deepak Fertilisers & Chemicals hit two year low of Rs 167, down 5% on the National Stock Exchange (NSE), falling 20% in past one week, after it reported a 56% drop in net profit at Rs 190 million in September 2018 quarter (Q2FY19).

5.                   Shares of Petronet LNG gained on the NSE in today’s session as the company had received a new rating on the stock from international brokerage firm Macquarie. Brokerage firm Macquarie has outperformed with a target price of Rs270.

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Daily Equity Report

Outlook of Nifty & Bank Nifty Today

Nifty Outlook:-

Nifty settled around 1 percent lower tracking a fall in the global markets. Among the sectoral indices, the Nifty Metal index, the top loser of the day, ended 2.8 per cent lower weighed by Jindal Steel & Power and Hindalco Industries. The Nifty IT index slipped 2.2 per cent due to fall in Wipro and Infosys.

Nifty Future Support-Resistance
R1/R2	10800/11000
S1/S2	10600/10550

Daily Chart

Bank Nifty Outlook:-

Bank Nifty settled around 1 percent lower at 26157.90 down by 161 points. The Reserve Bank's decision to boost lending failed to impress investors. Weak global cues and correction in technology stocks on rupee recovery also hit market sentiment.

Bank Nifty Future Support-Resistance
R1/R2	26400/26700
S1/S2	25800/25400

Daily Chart

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Technical outlook of top 2 stocks

·        IRBFUT

Stock tanks and closed below its support which can be seen in below charts selling pressure may continue in stock.

INTRADAY
R1	175	Stock Info
R2	180
R3	190	VOLUME	4597500
LEVEL	164	DAY HIGH	173.75
S1	160	DAY LOW	164.20
S2	155	MARKET LOT SIZE	2500
S3	150	VWAP	167.73
All over trends	Bearish

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