Metals Weekly - India remains a net exporter of steel in April 2017 - Motilal Oswal

India remains a net exporter of steel in April 2017

* Indian steel: Long product (TMT Mumbai) prices were down ~2% WoW. Sponge iron and domestic scrap prices were down by ~4% WoW. Domestic iron ore were unchanged, while pellet was marginally lower. Domestic HRC prices were unchanged.

* Raw Materials: Iron ore prices (China cfr) were down ~10

10/05/2017 12:00:59 PM | Posted in Broking Firm Views - Sector Report read full news
Metal Sector Update Price correction continues - Emkay

Price correction continues…

Key observations

* In Ferrous space iron ore, steel and HR Sheet prices fell down yet again due to mounting supply pressure. Coking coal price rose due to temporary supply shock from Cyclone Debbie in Australia.

* Iron ore prices of both 62% and 58% grade fell by 14

4/05/2017 3:45:13 PM | Posted in Broking Firm Views - Sector Report read full news
Auto Industry Volume Update - April 2017 - Kotak Sec

AUTO INDUSTRY VOLUME UPDATE - APRIL 2017

FY18 started off on a mixed note for the automobile manufacturers. In April 2017, demand was strong for the passenger car and tractor segment. Two wheeler segment performance continue to be on the recovery mode, post demonetization. Commercial vehicle segment (particularly MHCV segment) witnessed sharp YoY decli

4/05/2017 3:38:21 PM | Posted in Broking Firm Views - Sector Report read full news
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 0.85% at 10120.90, as against an up move of 2.02% 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 a

2/05/2017 5:17:10 PM | Posted in Broking Firm Views - Sector Report read full news
NIFTY PSU BANK holds strong Bullish momentum - GEPL

Observation

* NIFTY PSU BANK is the best performing sectors amongst all the indices last week. It showed a massive up move by 5.36%, as against an up move of 2.02% 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 Mon

2/05/2017 5:10:35 PM | Posted in Broking Firm Views - Sector Report read full news
Global Steel Dynamics Output at record level, demand remains weak - Emkay

Output at record level, demand remains weak!

* Crude steel output in both India and China surges to highest level since last five years at 9 mt and 72 mt respectively in March despite fall in steel prices.

* World capacity utilization continues to go northwards YoY for the 8 th consecutive month with 220 bps YoY increase to 72.7% in Mar&rsquo

1/05/2017 2:44:08 PM | Posted in Broking Firm Views - Sector Report read full news
Agri Digest - Crop pattern likely to shift from maize & pulses to cotton - Emkay

Agri Digest – Crop pattern likely to shift from maize & pulses to cotton

* Our interaction with seeds distributor in Telangana has indicated that cotton acreages are expected to increase by 20-25% while maize and pulses acreages are expected to fall by 30-40%. Kaveri is likely to gain market share on the back of new product launches such as &

29/04/2017 4:23:01 PM | Posted in Broking Firm Views - Sector Report read full news
Power Sector - FY17 witnessed strong capacity addition of 17.5GW (131% of target) - Emkay

* Generation increased 5.5% YoY in March 2017 primarily due to onset of summer and incremental capacity. Growth was driven by 6.0% YoY and 12.3% YoY rise in generation across the coal based plant and Hydro plants respectively.

* The overall industry PLF was flat at 43.6%. PLF declined across the Gas and Nuclear segment witnessing a 314 bps and 1378 bps YoY fall respectively. PLF acros

29/04/2017 10:31:26 AM | Posted in Broking Firm Views - Sector Report read full news
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