Nifty PSU Bank has immediate support placed at 3000 levels - GEPL

NIFTY PSU BANK   Current Close: 3223.95    Trend : Negative

Observation

* NIFTY PSU BANK is the most underperforming sectoral indices, as it closed down by around 2.23% at 3223.95, as against a down move of 0.47% in benchmark NIFTY 50.

* The Sector made a recent swing high @ 3503.90 a few weeks back,

9/03/2017 11:35:21 AM | Posted in Broking Firm Views - Sector Report read full news
Nifty Metal holds strong Bullish momentum - GEPL

NIFTY METAL    Current Close: 3187.10     Trend : Positive

Observation

* NIFTY METAL is the most outperforming sectors amongst all the indices last week. It moved up by 2.14%, as against a down move of 0.47% in benchmark NIFTY 50.

* The Sector is in long term Bullish Trend with the formation of

9/03/2017 11:30:48 AM | Posted in Broking Firm Views - Sector Report read full news
Sector Update Defense Sector - India Nivesh Sec

Political Developments:

* Jaishankar discusses counter‐terrorism, bilateral relations with McMaster

In order to take forward partnership defined with Barack Obama administration, post the Trump government taking over Indian Foreign Secretary Subrahmanyam Jaishankar met US National Security Adviser Lt. Gen H

6/03/2017 3:35:57 PM | Posted in Broking Firm Views - Sector Report read full news
Cement Sector Update Prices Inch-Up on Moderate Demand Recovery - Reliance Sec

Prices Inch-Up on Moderate Demand Recovery

Demand environment witnessed a mild recovery in Feb’17 on Month-on-Month (MoM) basis on the back of visible pick-up in construction activities after being marred in Jan’17 due to festivals and wedding season. Barring Southern markets, all regions witnessed an improvement in demand in Feb’17.

3/03/2017 5:32:12 PM | Posted in Broking Firm Views - Sector Report read full news
India Energy Consumption blip, outlook robust - RCML

India Energy

Consumption blip, outlook robust

* Consumption declines on surge in spot LNG prices: India’s gas consumption declined to 134mmscmd in Jan’17 (-1.5% YoY, -4.6% MoM), led by lower offtake from the power generation, fertiliser and city gas distribution (CGD) segments. LNG consumption was

2/03/2017 3:42:59 PM | Posted in Broking Firm Views - Sector Report read full news
Metallica - Metal Price move slowing down - Emkay

Metal Price move slowing down!!

Key observations

* Iron ore prices continued to rise sharply despite being in oversupplied market and concern over Chinese steel capacity cuts. Coking coal prices however fell further, though with a lesser intensity

* Globally steel prices remained broadly stable witho

2/03/2017 3:27:48 PM | Posted in Broking Firm Views - Sector Report read full news
Sector Update Real Estate sector - India Nivesh Sec

SECTOR – REAL ESTATE

Sector Review

* The Real Estate sector witnessed slowdown during Q3FY17 owing to negative effect of demonetization. The residential space witnessed severe slowdown as customers adopted a wait‐n‐watch mode as demonetization impacted their decision making. However the commercial sp

1/03/2017 3:57:28 PM | Posted in Broking Firm Views - Sector Report read full news
Sector Update Capital Goods - India Nivesh Sec

SECTOR – CAPITAL GOODS

Sector Review

* EPC companies in the T&D sector continued to enjoy double digit revenue growth with stable margins amidst a steady order inflow position (KEC/Kalpataru). Whereas for the companies involved in the project business, execution continued to be at a cyclical low with

1/03/2017 3:52:18 PM | Posted in Broking Firm Views - Sector Report read full news
Sector Update Power Sector - India Nivesh Sec

Sector Review

* The power sector continued to witness weak demand growth during Q3FY17 with YoY growth remaining at 1% same as it was in Q2FY17. This was despite power generation showing an improvement in YoY growth to 5.1% in Q3FY17 against 1.4% YoY growth in Q2FY17.

* The quarter saw subdued merchant power prices at ~Rs 2.5 per unit with Yo

1/03/2017 3:45:44 PM | Posted in Broking Firm Views - Sector Report read full news
Telecom Sector MoUs growth led by high incoming termination minutes at much lower yields - India Nivesh Sec

MoUs growth led by high incoming termination minutes at much lower yields

* The incumbents felt the full quarter impact of the launch of services by Jio in Q3FY17 with voice segment taking a beating as ARPMs fell on account of high volume‐low yielding terminating minutes on their network. Jio has reached surpassed 100 mn subscriber mark within 170 da

1/03/2017 3:03:15 PM | Posted in Broking Firm Views - Sector Report read full news
Pharma Sector Update - Kotak Sec

We are suspending coverage on the Pharmaceutical sector for the time being. We will re-instate coverage on the same in due course. In the meantime, please treat all our existing recommendations (given in the table below) as closed.

A brief write-up on our covered stocks is as under:

 

Alembic Pharma Ltd (ALPM)

Alembic

28/02/2017 5:10:52 PM | Posted in Broking Firm Views - Sector Report read full news
IT Sector Update - Q3FY2017 results review - Sharekhan

Q3FY2017 results review

Steady quarter in a challenging environment:

In Q3FY2017, the top five Indian IT companies surprised positively in terms of their operating performance despite furloughs (less number of working days), continued pricing pressure, cross-currency headwinds (especially GBP depreciation) and

27/02/2017 5:11:20 PM | Posted in Broking Firm Views - Sector Report read full news
Automobile sector witnessed decent volumes in UV, 2W and Tractor segment -  India Nivesh Sec

Automobile sector witnessed decent volumes in UV, 2W and Tractor segment

* Auto companies registered stressed performance in sales volumes during Q3FY17. Except for Eicher’s Royal Enfield, Tata’s Tiago and few models of Maruti (Breeza, S‐Cross & Baleno)which have long waiting periods, all the companies suffered the continuing short te

27/02/2017 5:02:00 PM | Posted in Broking Firm Views - Sector Report read full news
NIFTY ENERGY holds strong Bullish momentum - GEPL

NIFTY ENERGY holds strong Bullish momentum

NIFTY ENERGY

Observation

* NIFTY ENERGY is the most outperforming sector amongst all the indices last week. It moved up a good 4.29%, as against an up move of 1.34% in benchmark NIFTY 50.

* The Sector came into Bull

27/02/2017 4:33:22 PM | Posted in Broking Firm Views - Sector Report read full news
Pharmaceuticals Q3FY17 Review- Weakening structural dynamics; valuations factor in negatives for time being - Emkay

Pharmaceuticals

* Our Emkay Pharma universe saw revenue growth of 11% YoY and 2% QoQ, EBITDA growth was 11% YoY and 3% QoQ whereas APAT remained flat on YoY basis and declined by 2% sequentially.  The key underlying thread in Q3 was the higher than expected pricing pressure as well as increasing R&D spend rate by Indian pharma companies as they

22/02/2017 5:37:46 PM | Posted in Broking Firm Views - Sector Report read full news
Auto and Auto Ancillaries Q3FY17 Results Review – Decent quarter post demonitisation - Emkay

Automobiles

*Our Auto OEM universe saw a revenue decline of 1% YoY, while ex-Tata Motors, it’s a growth of 3% YoY.

* Eicher Motors, MSIL and AL saw the highest revenue growth in our OEM universe at 43%, 12% and 8% respectively. Amongst ancillaries, Apollo and Motherson saw 17% & 12% YoY growth in topline respectively.

* Wh

22/02/2017 5:28:02 PM | Posted in Broking Firm Views - Sector Report read full news
India Pharmaceuticals - Q3 Review: Margin beat but core EBITDA weak - RCML

Our pharma universe posted in-line aggregate revenue growth of 13% YoY in Q3FY17, while the sector’s operating margin came in 120bps ahead of our estimate. Core EBITDA (ex-exclusivity sales) remained weak given the combined impact of price erosion in the US market and demonetisation headwinds in the domestic business. We remain selective on the sector and reiterate CDH, ARBP and SUNP as t

22/02/2017 4:20:10 PM | Posted in Broking Firm Views - Sector Report read full news
India Metals & Mining - Q3 Review: In-line quarter; HNDL, COAL top picks - RCML

Our metals and mining coverage delivered in-line Q3FY17 earnings on an aggregate basis. Company-wise, JSTL, NMDC, AIAE and JSP beat street estimates by over 10%, while SAIL underperformed. TATA’s in-line performance despite an earnings beat in its Indian operations was due to weakness in the overseas business. We expect a stronger Q4 across the sector as higher metal prices outweigh the r

22/02/2017 4:14:18 PM | Posted in Broking Firm Views - Sector Report read full news
India Consumer - Q3 Review: Poor show, revival likely a FY19 story - RCML

The RCML consumer universe posted tepid net sales/EBITDA/adj. PAT growth of 4%/0.9%/1.7% YoY for Q3FY17. EBITDA margin contracted 60bps YoY on higher RM cost inflation and increased other expenses (negative operating leverage). We have been underweight on the sector for the last 12 months and continue to find the risk-reward unattractive as valuations need to be reset to a lower earnings profil

22/02/2017 4:11:14 PM | Posted in Broking Firm Views - Sector Report read full news
India Automobiles - Q3 Review: 2W margins surprise, RM cost pinch in Q4 - RCML

Aggregate EBITDA/PAT dipped 1%/4% YoY for our auto universe in Q3FY17. 2W margins surprised positively, while PVs and CVs were below estimates. Though RM cost will pinch in Q4, we expect companies to take margin-accretive price hikes with BS-IV implementation. 2W volumes are poised to recover aided by marriage season demand in Q1 and an early festive season in Q2 (we model for 9% growth in FY18

22/02/2017 4:04:50 PM | Posted in Broking Firm Views - Sector Report read full news
Pharmaceuticals - Demonetization impact subsides but full recovery in IPM not clear - Emkay

Indian Pharma Market- Monthly checkup

* The Indian Pharmaceutical Market (IPM) reported moderate growth of c7% YoY to Rs.91.8bn for the month of Jan’17 and seems to have recovered from the brink it hit in Dec’16 (2.7% YoY growth); however, it’s still to fall back into the double-digit growth trajectory seen 4-5 months back.

22/02/2017 3:56:43 PM | Posted in Broking Firm Views - Sector Report read full news
MarketFresh: FMCG Tracker - RM index up, promotion intensity declining - RCML

The RCML RM index rose 2.3% MoM in Jan’17 (+16% YoY) as prices of key raw materials continued to firm up. Select prices hikes were seen in a few categories (though not material) and promotional intensity declined despite weak demand.We reiterate our cautious stance on the sector as topline growth should remain tepid in FY18 with margins being at peak levels. Emerging headwinds from input

22/02/2017 3:41:29 PM | Posted in Broking Firm Views - Sector Report read full news
India Financials: Credit Tracker - Deposit growth down a bit; Credit growth stable - RCML

As per RBI data, deposit growth for the fortnight ended 3 February declined to 13.5% YoY from 13.9% the previous fortnight. Deposit growth has started moderating over the last four fortnights after witnessing a spurt post demonetisation. Credit growth remained largely stable at 5%. Investments grew 26.4% YoY while SLR fell to 30.5%. We expect FY17 credit growth to remain under pressure.

22/02/2017 2:48:34 PM | Posted in Broking Firm Views - Sector Report read full news
India PharmaScope - Convalescing post-demonetisation - RCML

Growth in the Indian Pharmaceutical Market (IPM) recovered to 10.1% YoY in Jan’17 from 7.2% in Dec’16, driven by a volume uptick as demonetisation headwinds receded. Despite improved pricing, NLEM revenues fell 5.5% YoY (-9% in Dec’16) as volumes dropped. While the FDC market remains in pain (-34%), the non-NLEM and non-FDC segments improved. Therapy-wise, antidiabetic drug sa

14/02/2017 5:32:47 PM | Posted in Broking Firm Views - Sector Report read full news