Nifty Pharma has immediate support placed at 10350 levels - GEPL

NIFTY PHARMA   Current Close: 10646.50    Trend : Negative

Observation

* NIFTY PHARMA is one of the underperforming sectoral indices, as it closed down by around 2.59% at 10646.50, as against a down move of 1.48% in benchmark NIFTY 50.

* The Sector had made a recent swing high @ 12011.80 in the month

19/12/2016 4:52:46 PM | Posted in Broking Firm Views - Sector Report read full news
Nifty IT turns into Bullish mode above 10180 - GEPL

NIFTY IT   Current Close: 10222.95    Trend : Positive

Observation

* NIFTY IT is the only positive sector amongst all the indices last week. It moved up a good 2.26%, as against a down move of 1.48% in benchmark NIFTY 50.

* In the month of March 2015, the Sector created a Fresh All Time High at 12908

19/12/2016 4:47:20 PM | Posted in Broking Firm Views - Sector Report read full news
Nalco & NTPC to jointly initiate Power Project in Odisha - Dynamic Levels

NALCO and state-owned power producer NTPC Ltd and signed a deal to jointly set up a 2.4 giga watt (GW) power plant and one million tonne aluminium production facility in Odisha with an investment of more than Rs 36,000 crore. Formal joint venture and power purchase agreements will be in place by the end of the ongoing financial year.

The suggested power plant at Gajmara will costitute

19/12/2016 3:46:11 PM | Posted in Broking Firm Views - Sector Report read full news
India Financials - Ind-Ra: Risky entities hold 25% of corporate debt - RCML

We attended a conference hosted by India Ratings (Ind-Ra) on an asset funding study of India’s top 500 corporates. Key takeaways:

* Risky entities hold 25% of corporate debt:

Ind-Ra has analysed India’s top 500 corporates for their incremental debt deployed over FY11-FY16 towards funding productive and/or non-productive assets. Ba

17/12/2016 4:51:09 PM | Posted in Broking Firm Views - Sector Report read full news
Four IT Multibaggers Remained Untouched By Demonetization - Dynamic Levels

Demonetization has shaken up many indices and sectors. It was announced on November 8th and its impact on the market was visible on 9th November. On 22nd November, the market traded on its low with Nifty small cap slipping to 5408 levels while the Benchmark Index Nifty itself declined to 7916 levels on 21st November.

India's information technology sector is one that has escaped th

17/12/2016 3:21:46 PM | Posted in Broking Firm Views - Sector Report read full news
Power Sector - Consumption growth matched by capacity addition; prefer Power Grid and CESC - ICICI Securities

In November 2016, coal despatches bucked the 3-month decline trend and were up 6.2% YoY as thermal power generation improved (~9% YoY) and coal inventory at power plants stabilised to 14 days of generation (19.5mnte in Nov’16 vs ~19mnte in Oct’16). Overall power generation growth was reported at 8.3% YoY.

 

Utilisations flat as power ge

15/12/2016 3:43:41 PM | Posted in Broking Firm Views - Sector Report read full news
Impact of demonetization on MFI sector - Motilal Oswal

Disbursements down 50%, collection efficiency at ~80%

We hosted a call with Ms Ratna Vishwanathan, CEO of Microfinance Institutions Network (MFIN), to understand the impact of demonetization on the MFI sector. As micro finance collections are largely in cash, it is one of the most vulnerable businesses (due to demonization) in the financial services sp

15/12/2016 12:37:06 PM | Posted in Broking Firm Views - Sector Report read full news
Cement Sector - Prices decline across regions - Motilal Oswal

Likely to remain under pressure in December

* All-India average realization is down by INR5/bag MoM in December due to price declines across regions.

* Price decline across regions is ~INR2-6/bag due to demand weakness. Also, price hikes in select regions have been rolled back due to poor demand.

* Prices in east are likely to decl

15/12/2016 12:32:47 PM | Posted in Broking Firm Views - Sector Report read full news
Media Sector - Demonetization - Nobody knows anything - ICICI Sec

It is difficult to quantify the impact of demonetisation on media stocks as the current situation is fluid and commentary from most players is diplomatic, guiding for short-term pain with long-term gains. Demonetisation and GST should lead to shift in business from unorganised to organised and it is the organised players who are the advertisers. We buy into the commentary and factor in lower ad

14/12/2016 2:45:19 PM | Posted in Broking Firm Views - Sector Report read full news
Telecom Sector - Subscriber Watch September16 - ICICI Sec

Regulator (TRAI) released monthly subscriber and MNP (mobile number portability) data, including Reliance Jio (RJIO), for Sep-16. Industry active (VLR) net adds rose to 18.6mn, led by 16mn net adds by RJIO; while net adds for top-3 were stable at 1.9mn. Average industry net adds for past six month were 0.9mn subs. RJIO captured active subscriber market share of 1.7%. We believe net adds for RJI

14/12/2016 11:06:25 AM | Posted in Broking Firm Views - Sector Report read full news
India Automobiles - Demonetization hazes the performance windshield; to likely demystify by FY18 - Emkay Global

Key trends

The recent demonetization of Rs500/1000 currency notes is likely to affect discretionary spending, thus impacting both 4W as well as 2W sales. We believe the impact on 2Ws could be severe for Q3FY17 as a majority of 2W buying is cash denominated; while in case of 4Ws the proportion stands at 30-40% with the remaining purchases being through

13/12/2016 3:32:12 PM | Posted in Broking Firm Views - Sector Report read full news
India PharmaScope - Chronic sales drive November growth - RCML

The Indian Pharmaceutical Market (IPM) grew at a healthy 15.3% YoY in Nov’16, backed by a low base and strong anti-diabetic/cardiac sales (+12.6% excluding these two segments). Volume growth rebounded to 9.6% YoY, but pricing remained weak. The NLEM and FDC segments saw some improvement but remained in negative territory, in contrast to a recovery in other segments. Therapy-wise, anti-dia

13/12/2016 11:39:00 AM | Posted in Broking Firm Views - Sector Report read full news
Nifty Pharma has immediate support placed at 10500 levels - GEPL

NIFTY PHARMA    Current Close: 10929.45    Trend : Negative

Observation

* NIFTY PHARMA is the only underperforming sectoral indices, as it closed down by around 0.98% at 10929.45, as against an up move of 2.16% in benchmark NIFTY 50.

* The Sector had made a recent swing high @ 12011.80 in the mon

12/12/2016 4:50:26 PM | Posted in Broking Firm Views - Sector Report read full news
Nifty Metal holds Bullish momentum - GEPL

NIFTY METAL    Current Close: 2865.25     Trend : Positive

Observation

* NIFTY METAL is one of the most outperforming sector amongst all the indices last week. It moved up a good 5.43%, as against an up move of 2.16% in benchmark NIFTY 50.

* In the month of November, the Sector created a Fresh 52

12/12/2016 4:40:14 PM | Posted in Broking Firm Views - Sector Report read full news
India Energy - Digital push for OMCs - RCML

The 0.75% discount introduced by the government on fuel bought via digital methods at state-run pumps is more marketing strategy than masked subsidy. Assuming 70% of transactions at OMC outlets go digital, IOCL, BPCL and HPCL could see a worst-case earnings hit of 8-14% in FY18 if they are unable to pass on these costs (which is unlikely). There are additional benefits of improved transparency

12/12/2016 10:27:12 AM | Posted in Broking Firm Views - Sector Report read full news
India Financials: Credit Tracker Demonetisation drives deposit growth to 16% YoY - RCML

As per RBI data, deposit growth for the fortnight ended 25 November increased to 15.9% YoY, largely due to the sharp increase in deposits collected via demonetisation. The RBI in its recent monetary policy stated that banks have collected old currency worth Rs 11.6tn during the demonetisation drive up to 7 December. Credit growth weakened further to 6.6% while investment growth surged to 20.8%

10/12/2016 12:44:31 PM | Posted in Broking Firm Views - Sector Report read full news
Agri Input & Chemical Sector - Gujarat Visit - Agri-input demand resilient despite demonetization call - Emkay Global

Key highlights of our Gujarat visit

* Demand in the cash market had fallen by ~50% during the first 4-5 days post the demonetization call while demand in the credit market did not witness any significant impact. Expect demand to normalize by end of December as money circulation improves.

* Purchasing on credit and by cheques has increased wh

10/12/2016 12:27:33 PM | Posted in Broking Firm Views - Sector Report read full news
Upstream Oil & Gas - OPEC agrees to output cut; raise FY17E-FY18E Brent to US$48-52.5/bbl - ICICI Securities

Organisation of Petroleum Exporting Countries (OPEC) at its November 30 meeting agreed on cutting output to 32.5m b/d (numbers in OPEC press release add up to 32.7m b/d) from Jan’17. The output cut agreement is valid for six months with an option to extend for another six months. Non-OPEC members may also cut output by 0.6m b/d, including 0.3m b/d cut by Russia. The focus would now shift

8/12/2016 3:11:03 PM | Posted in Broking Firm Views - Sector Report read full news
Oil & Gas Sector - Monthly round up – Dec’16 - Emkay Global

* Crude oil declines:

Brent Crude oil closed lower by 9.8% MoM to $45/bbl for the month of November’16 as doubts emerged on the confirmation of production cut at the month end summit of OPEC. Also increase in US inventory with sluggish product demand and certain geo-political factors contributed to the fall in crude oil prices. Light-Heavy (L-H)

8/12/2016 3:06:19 PM | Posted in Broking Firm Views - Sector Report read full news
India Financials - Demonetisation starts taking a toll on MFIs - RCML

* ICRA places three MFIs under negative watch:

As per media reports, rating agency ICRA has put three small microfinance institutions (MFI) – Cashpor Micro Credit, Sambandh Finserve Private and S V Creditline – on watch with negative implications. ICRA stated that the rating downgrade follows the likely adverse impact of demonetisation on

7/12/2016 5:38:27 PM | Posted in Broking Firm Views - Sector Report read full news
Financials - Identifying structural winners - Motilal Oswal

Demonetization presents good buying opportunity; Reiterating our top picks

Demonetization – Benefits to accrue in the medium term

Following the Indian government’s demonetization announcement on 8th November 2016, NBFC sector stocks have corrected in the range of 10-30%. While demonetization could

7/12/2016 3:22:25 PM | Posted in Broking Firm Views - Sector Report read full news
Dealers Check: Demand Affected by Demonetization; Recovery Imminent - Reliance Sec

An abrupt decline in trade segment’s sales volume (down by ~20-50% m-o-m) in the backdrop of demonetization of Rs500 & Rs1,000 notes led to postponement of demand as less availability of cash in circulation brought the construction activities to standstill. However, the prices appear to be resilient with moderate correction in some of pockets, as all-India average cement prices correc

7/12/2016 3:14:42 PM | Posted in Broking Firm Views - Sector Report read full news
India Telecom - Industry growth flagging; Idea losing ground - RCML

Our Q2 revenue market share (RMS) analysis for the telecom sector reveals: (1) hyper competition amid weak growth across circles (4.3% YoY), (2) Bharti executing well with widespread RMS gains, and (3) Idea’s tariff hike strategy backfiring into RMS losses. While the recent correction in telco stocks factors in elevated competitive pressures, recovery in industry growth to 8-10% is the ke

7/12/2016 3:04:08 PM | Posted in Broking Firm Views - Sector Report read full news
Seasonal Impact; Demonetization an Added Woe - Reliance Sec

The auto sales were expected to remain subdued in Nov’16 due to seasonality considering decline in retail demand post festive season. However, the demonetization of high-value currencies and limited availability of newly introduced notes has affected the retail demand to a considerable extent.

 

* CV Segment –

Takes

7/12/2016 2:24:44 PM | Posted in Broking Firm Views - Sector Report read full news
India Financials: Credit Tracker - Oct’16 non-food credit growth declines to 6.7% - RCML

Non-food credit growth declined to 6.7% YoY in Oct’16 (vs. 10.8% in Sep’16) as growth across segments and especially services moderated. Industry credit stayed weak, declining by 1.7%. The services/agriculture sectors grew at 9.3%/13% vs. 18.4%/15.9% in Sep’16. In addition, retail credit increased at a slower pace of 17% vs. 19.7% in the preceding month. Infrastructure loans d

5/12/2016 3:40:32 PM | Posted in Broking Firm Views - Sector Report read full news