News and Impact · U.S. stocks climbed over 1% , rebounding from a five- day decline in the Standard & Poor’s 500 Index, as gains in energy shares and a jump in consumer confidence overshadowed fallout from the Swiss currency shock. Asian markets are witnessing mixed bag. Chinese stocks tumbled, led by brokerages, after regulators took measures to rein in margin trading at three of the nation’s biggest securities firms. · This week is important for the market (US market shut today). Quarterly results announcement, ECB meeting to consider quantities easing and Greece election result. Hindustan Unilever, Hindustan Zinc and India Bull Housing will be announced quarterlyb result today. · Commodity like Copper,Zinc and Aluminum gained 1-3% on LME and Brent Crude surged over 3% to $50/bbl. Axis Bank reported better than expected quarterly result. We are buy on the stocks. Wipro reported better than expected Q3 result. We are neutral on the stock. · Reliance Industries reported inline with expected Q3 result. We are neutral on the stock. · RBI has now allowed flexible structuring of existing long term project loans to Infrastructure and other core industries. This will provide relief for the large power project lenders like REC and PFC. · Petrol price was cut by Rs 2.42 per litre and diesel by Rs 2.25 a litre over the weekend. Government hiked excise duty on Petrol and Diesel by Rs2 a liter. Cut in petrol and diesel price will be cool down inflation. Interest sensitive sectors like Banking, Auto and Real Esatate stocks will be positive. · Havells India rated overweight at HSBC PT Rs333 (Bloomberg) · Watch fertilizer stocks such as Chambal Fertilizers, National Fertilizers, Rashtriya Chemicals, Zuari Agro as Indian Express reports govt may free urea prices, cut import tax · Government clears Asian Paints Rs17bn factory - PTI - Positive for Asian Paints · Gateway Distriparks : Says Blackstone asked for rail unit IPO; will respond in due course · HSIL : To seek shareholders’ approval to raise overseas investment limit to 40%; company separately said it signed agreement to distribute Atlantic’s water heaters in India - Positive for HSIL · Mahindra CIE : India Value Fund III sold 2.22m shares on NSE, 3.56m on BSE Friday · Reliance Capital : Seeks to buy Goldman unit in India: Mint
Posted on: Mon, 19 Jan 2015 04:27:07 +0000