Nifty Pharma has immediate support placed at 9870 levels - GEPL

Observation

* NIFTY PHARMA is one of the most underperforming sectoral indices, as it closed down by around 3.07% at 10208.50, as against a down move of 0.34% in benchmark NIFTY 50.

* The Sector had made a recent swing high @ 10806.80 in the month of Feb 2017, lower, as compared to Dec 2016. Thus it has failed to sustain at higher levels and

25/04/2017 5:13:50 PM | Posted in Broking Firm Views - Sector Report read full news
Nifty Reality holds strong Bullish momentum - GEPL

Observation

* NIFTY REALTY is the best performing sectors amongst all the indices last week. It showed a massive up move by 10.75%, as against a down move of 0.34% in benchmark NIFTY 50.

* The Sector is in long term Bullish Trend with the formation of Higher Top Higher Bottom sequences in all time frames charts as Daily, Weekly as well as Mo

25/04/2017 5:05:59 PM | Posted in Broking Firm Views - Sector Report read full news
Q4FY17E Order momentum continues - Karvy

Project awards seen pick-up during Apr-Feb 2017

Construction sector is expected to post moderate performance for Q4FY17, primarily on account of weak execution in newly won projects. Awarding of new orders have been strong in key segments like Roads & Urban Infra during the quarter, though it remained below the initial targets set by govt (on delay

22/04/2017 10:55:31 AM | Posted in Broking Firm Views - Sector Report read full news
India Agrochemicals - Channel checks South spoils the party in Q4 - RCML

Channel checks: South spoils the party in Q4

Our interactions with agrochemical dealers and players indicate that (a) a below-normal northeast monsoon has severely affected the southern region, (b) pan-India rabi acreage is up 6% YoY but the states of Tamil Nadu and Karnataka have posted declines, (c) southern reservoirs are at very low storage levels,

21/04/2017 4:00:38 PM | Posted in Broking Firm Views - Sector Report read full news
Ports - The March Portfolio - Emaky

* Major Indian ports handled 61.3mn tons of cargo in the month of March 2017, clocking a growth of 9.5% YoY and 20.4% MoM. The major growth drivers were POL (13.9% YoY), iron ore (+120% YoY) and others category (+62% YoY) while coal (-16% YoY) and fertilizer (-17% YoY) witnessed a decline

* Mormugao (+52% YoY), Cochin (+52% YoY) and Paradip (+9.5% YoY) witnessed healthy growth in mont

21/04/2017 2:51:53 PM | Posted in Broking Firm Views - Sector Report read full news
Power Utilities Sector - The supply glut - Kotak Sec

The supply glut.

Capacity utilization of generation assets continue to drop even as the Street remains hopeful of a potential closing of the gap on account of (1) improving demand prospects under UDAY, (2) de-commissioning of old and inefficient capacities, and (3) lack of new investment in generation assets by the private sector. We do not share the o

21/04/2017 2:38:37 PM | Posted in Broking Firm Views - Sector Report read full news
Power Sector - Continued Muted Demand & Higher Fuel Cost Continue to Impact Profitability - Reliance Sec

Power Sector – Continued Muted Demand & Higher Fuel Cost Continue to Impact Profitability

All-India power demand increased by 3.3% YoY to 292bn units in 4QFY17 as against 282bn units in 4QFY16. While hydel power generation rose by 8.6% YoY, thermal power generation grew by 2.9% YoY during the quarter. All-India PLF for thermal sector stood at

20/04/2017 2:43:52 PM | Posted in Broking Firm Views - Sector Report read full news
Nifty METAL has immediate support placed at 2820 levels - GEPL

Observation

* NIFTY METAL is one of the most underperforming sectoral indices, as it closed down by around 4.04% at 2985.55, as against a down move of 0.52% in benchmark NIFTY 50.

* The Sector had made a recent swing high @ 3158 in the month of Apr 2017, lower, as compared to Mar 2017 on daily charts. Thus it has failed to sustain at higher l

20/04/2017 12:29:57 PM | Posted in Broking Firm Views - Sector Report read full news
Nifty CPSE holds strong Bullish momentum - GEPL

Observation

* NIFTY CPSE is the best performing sectors amongst all the indices last week. It moved up by 2.92%, as against a down move of 0.52% in benchmark NIFTY 50.

* The Sector is in long term Bullish Trend with the formation of Higher Top Higher Bottom sequences in all time frames charts as Daily, Weekly as well as Monthly, as can be see

20/04/2017 12:23:16 PM | Posted in Broking Firm Views - Sector Report read full news
Insurance Sector - Ending a strong year on a stronger note - Kotak Sec

Ending a strong year on a stronger note.

Private sector ended the year with 31% yoy APE growth in March translating into 26% growth for FY2017—highest in past nine years. HDFC Life had the most notable catch-up with 44% growth in March to end at 13% for the year; Bajaj Life, ICICI Life and SBI Life reported some fatigue. We tweak our APE estimat

19/04/2017 5:55:01 PM | Posted in Broking Firm Views - Sector Report read full news
Fertilisers Sector - Q4FY17 - Strong for GSFC, weak for Chambal - ICICI Sec

Fertiliser sector profitability in Q4FY17 is likely to surge ~31% YoY – primarily driven by GSFC’s outperformance on account of a Section-80IA related large tax write-back. While Tata Chemicals (TTCH) and Coromandel are also likely to post profitability growth, Chambal’s profitability is seen impacted by lower volumes due to maintenance related shut-down.

 

19/04/2017 4:42:50 PM | Posted in Broking Firm Views - Sector Report read full news
Metals & Mining Sector - Another Strong Quarter in the Offing - Reliance Sec

Sector Preview

4QFY17E is expected to be strong for both ferrous as well as non-ferrous companies. While ferrous players are expected to report sequentially weak numbers due to higher raw material prices, their YoY performance is expected to be stellar. On the other hand, the non-ferrous players are expected to deliver spectacular performance in both Y

19/04/2017 3:53:25 PM | Posted in Broking Firm Views - Sector Report read full news
FMCG Sector - Trade reset continues, weaker international business - ICICI Sec

We estimate FMCG companies under our coverage to report an aggregate revenue growth of 8.2% YoY in Q4FY17 (vs growth of 1.6% in Q3FY17, 7.5% in Q2FY17 and 6.8% in Q1FY17). The improvement in revenue growth is attributable to: 1) some restocking post demonetisation, and 2) price hikes post increase in inflationary pressures. We expect gross margin in Q4FY17 to be marginally up (20bps) for compan

19/04/2017 3:33:09 PM | Posted in Broking Firm Views - Sector Report read full news
India Pharmaceuticals - Q4 Preview - Subdued quarter - RCML

Q4 Preview: Subdued quarter

We expect a muted Q4FY17 for our pharma universe with revenue/ PAT growth of 4.4%/5.3% YoY. While the demonetisation overhang on domestic growth is fading, we forecast weak US sales growth QoQ (barring GNP), due to high competition in key products, base business erosion and limited key launches. With the exception of GNP and

17/04/2017 2:54:45 PM | Posted in Broking Firm Views - Sector Report read full news
Slow recovery in ad growth post demonetisation - ICICI Sec

Slow recovery in ad growth post demonetisation

Reason for report: Q4FY17 results preview

We expect I-Sec media universe to register 2.5% YoY ad growth in Q4FY17E as the impact of demonetisation lingers and overall industry sentiment remains weak. While earlier expectation was for growth to start recuperating a

14/04/2017 4:18:58 PM | Posted in Broking Firm Views - Sector Report read full news
Capital Goods Sector - 4QFY17E Results Preview - HDFC Sec

4QFY17E: Public sector capex to drive order flows

 

* Our coverage universe is likely to witness ~15% YoY growth in revenues, primarily led by a low base effect (for most companies), and a deferment of execution in 9mFY17, rather than an on-ground pick up in industrial activity.

* Order flows continue to be dominated by pu

14/04/2017 4:17:37 PM | Posted in Broking Firm Views - Sector Report read full news
Cement Sector - Volumes / prices at inflection point - ICICI Sec

Cement companies under our coverage are likely to report ~4% YoY and 18% QoQ increase in volumes during Q4FY17 led by year-end government spending push. We estimate industry volume growth to be broadly flat YoY during Q4FY17 on a relative high base (12% YoY growth during Q4FY16). Surprisingly, this seems to be in stark contrast to widely tracked DIPP data, which suggests a sharp 14.5% YoY decli

14/04/2017 3:54:08 PM | Posted in Broking Firm Views - Sector Report read full news
Cement, Metals & Mining Sector - 4QFY17E Results Preview - HDFC Sec

Cement: Off-color peak season, again

 

* The lagged impact of demonetisation and a strong base (volume growth of the cement industry in 4QFY16 was ~16%) are likely to impact 4QFY17 volume growth, resulting in one of the weakest peak seasons on record. We expect our coverage universe to deliver 1.7% growth in volumes in 4QFY17. Of the com

14/04/2017 3:45:30 PM | Posted in Broking Firm Views - Sector Report read full news
Consumer Sector - GST Roll-out, Monsoon - Key Factors to Watch Out For - Reliance Sec

GST Roll-out, Monsoon – Key Factors to Watch Out For

We expect our Consumer coverage universe comprising of 16 companies to report revenue, EBITDA and net profit growth of 6.4%, 6.6% and 9.6%, respectively for the quarter ended March 31, 2017. The quarter is expected to be better in terms of growth compared to the previous quarter, as the adverse

14/04/2017 3:44:41 PM | Posted in Broking Firm Views - Sector Report read full news
Oil & Gas Sector - 4QFY17E Results Preview - HDFC Sec

4QFY17E: Mixed Performance

* Top picks :

GAIL is our top pick. Higher petchem volumes, lower gas prices and rising gas volumes will improve profitability.

Steady crude prices : 

Crude prices remain strong on the back of continuation of supply cuts by OPEC

14/04/2017 3:38:41 PM | Posted in Broking Firm Views - Sector Report read full news
Metals & Mining Sector - 4QFY17 preview - when it shines the most - Kotak Sec

4QFY17 preview—when it shines the most.

Domestic metal names, both ferrous and non-ferrous will report strong earnings courtesy higher metal prices and strong volumes from ramp-up of projects. The earnings improvement of steel names will be led by higher volumes (peak seasonal demand & new projects) though we expect steady operating margins

14/04/2017 3:34:55 PM | Posted in Broking Firm Views - Sector Report read full news
Pharma Sector - 4QFY17E Results Preview - HDFC Sec

* 4QFY17E is likely to be a soft quarter for the Indian pharma sector. Overall, we expect 6.7% top line growth for our coverage universe. EBITDA for most companies is expected to remain flat on a high base of 4QFY16, which includes sales from bigger products like gAbilify, gGleevec and gGlumetza. However, we believe that operating performance is likely to have bottomed out, and companies like L

14/04/2017 3:25:46 PM | Posted in Broking Firm Views - Sector Report read full news
Power Utility Sector Update - Kotak Sec

Supreme Court—denies compensation, but with a rider.

The Supreme Court has denied award of compensation for fuel cost under-recovery in the case of imported coal plants; however, it referred the case back to CERC to quantify the tariff relief to be provided to plants that had to resort to higher use of imported coal due to lack of availability of

14/04/2017 3:22:30 PM | Posted in Broking Firm Views - Sector Report read full news
Pharma Sector - Q4FY17 result preview - ICICI Sec

We expect healthcare companies under our coverage to report mixed set of results for the quarter ended Mar'17. Strong performance would be registered by: 1) Glenmark on the back of continued exclusivity of generic Zetia, 2) Alkem laboratories on back of higher India contribution and low base, and 3) Natco Pharma due to continued exclusivity gain from generic Tamiflu and launch of generic En

14/04/2017 3:05:28 PM | Posted in Broking Firm Views - Sector Report read full news
Real Estate Sector - Demand normalized post demonetization - Emkay

* Demand normalized post demonetization:

We expect companies in building material segment to report steady revenue growth across categories. Tiles and Sanitaryware is expected to report volumes growth in mid-single digit while ply is expected to report volume growth in high single digit. Our channel check suggest growth was healthy in month of Februar

14/04/2017 10:02:07 AM | Posted in Broking Firm Views - Sector Report read full news