Published on 21/04/2017 9:17:30 AM | Source: Religare Securities Ltd
We suggest continuing buy on dips approach and keeping the leveraged positions hedged - Religare Sec
Nifty closed marginally higher in a volatile session today in absence of any major trigger. After five days of fall, participants preferred to accumulate select index majors available at good bargain. Also, existence of support around 9100 mark added to the positivity. Amid all, it was a mixed session on the sectoral front while noticeable recovery was witnessed in midcap and smallcap space.
We suggest continuing buy on dips approach and keeping the leveraged positions hedged. Don’t forget that we also have derivatives expiry scheduled next week which will further add to the prevailing volatility. So, risk management should be the prime focus. At the same time, keep a close eye on earnings and global developments for further cues.
* Reliance Industries Ltd has commissioned world’s largest and most complex ethane project, including commissioning of its ethane receipt & handling facilities and ethane cracking, at its Dahej facility in Gujarat in a world record time of less than three years. Reliance is the first company to globally conceptualise large-scale imports of ethane from North America as feedstock for its cracker portfolio in India.
* The National Company Law Tribunal (NCLT) has approved India Cements' merger with its subsidiaries Trinetra Cement and Trishul Concrete Products. This will help the company to re-align its focus on core business segment and ultimately re-rate the stock valuations in the medium-term.
* Crisil Ltd, in its first quarter results for CY17 reported a 12% YoY increase in top-line to Rs 402cr. Growth in top-line was driven by the research segment. Net Profits were flattish at Rs 73cr, impacted by a forex loss of Rs 11.9 cr.
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