Buy Tata Consultancy Services Ltd For Target Rs.2,580.00 - Reliance Se

* The stock has bounced from its long term averages with sustained positive price momentum in the past few days confirming an uptrend.

* The key technical indicator has also reversed from their lower levels and is expected to break on the upside.

* The stock has strong support on its weekly charts holding the short and medium term averages and the positive divergence in the

20/07/2017 1:30:28 PM | Posted in Broking Firm Views - Short Term Report read full news
Update On JSW Energy Ltd - Reliance Se

STOCK IN FOCUS

* JSW Energy’s recent acquisition of 1,391MW hydel capacity led to total 4,531MW generation capacity from 3,140MW that aided good revenue performance but reported PAT continue to decline due to lower realization, higher interest cost, depreciation costs and loss in hydro assets.

* We believe that the negatives relating to

20/07/2017 1:26:22 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Gail India Ltd For Target Rs.413.00 - Reliance Se

* The stock has bounced back from its 200 day average with positive momentum in the past week, there was mild profit booking in today’s trade which should be used to buy on declines.

* The key technical indicator RSI has also reversed turning upwards confirming the uptrend in the coming days. .

* The stock is has closed above its band of its averages and with the secto

18/07/2017 3:02:31 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy State Bank of India Ltd For Target Rs.355.00 - Reliance Se

STOCK IN FOCUS

* SBI closed 0.6% higher, outperforming benchmark NIFTY by 0.3%

* Post mega merger, SBI stands to gain market share in fastgrowing Retail and SME segments. Further, the Bank has been able to deliver relatively better operating performance compared to its peers despite elevated stress in balance sheet.

* Moreover, the

18/07/2017 2:56:33 PM | Posted in Broking Firm Views - Short Term Report read full news
Reduce Tata Consultancy Services Ltd For Target Rs.2,240.00 - Reliance Se

Revenue in Line, But Margins at 9-Year Low

Tata Consultancy Services has delivered largely an in-line performance in 1QFY18 with its USD revenue growing by 3.1% QoQ (+2% QoQ in CC terms). While volume grew by 3.5% QoQ, CC pricing declined by 1.5% QoQ. EBIT margin declined steeply by 236bps QoQ, which was well below our estimate by 74bps, which led net

18/07/2017 2:17:17 PM | Posted in Broking Firm Views - Long Term Report read full news
Power and Capital Goods Sector Update Regulated Entities to Deliver Better Show - Reliance Sec

Regulated Entities to Deliver Better Show; Higher Fuel Cost to Affect Private Players

During 1QFY18, all-India power demand increased by 3.74% YoY to 307bn units compared to 296bn units in 1QFY17 led by 17.5% rise in hydro generation. Coal-based generation grew at a slower pace of 2.2% YoY, while nuclear generation remained flat. All-India PLF of the t

17/07/2017 4:48:03 PM | Posted in Broking Firm Views - Sector Report read full news
Buy Motherson Sumi Systems Ltd For Target Rs.345.00 - Reliance Se

* Motherson Sumi is in the strong up-trend, as stock reversed after taking support of its 23.6% Fibonacci Retracement level of prior multimonth rise (from Rs202 to 329) and later, it has managed to recover partial losses.

* Due to recent recovery in the prices, RSI reversed from the crucial level-50 and MACD has given positive cross-over, which is signaling strength in the stock.

14/07/2017 2:27:26 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy HDFC Ltd For Target Rs.1,786.00 - Reliance Se

STOCK IN FOCUS

* HDFC closed 1% higher, outperforming benchmark NIFTY Index by 0.3%

* Over the last few years, HDFC Ltd has proven its competitive edge over its peers through decent growth in business, stable spreads, well-managed asset quality and better performance in other financial business subsidiaries. Consequently, the stock traded at

14/07/2017 2:20:09 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Indiabulls Housing Finance Ltd For Target Rs.1,187.00 - Reliance Se

* Indiabulls Housing Finance is in the strong up-trend, as stock reversed after taking support of its 23.6% Fibonacci Retracement level of prior multi-month leap (from Rs605 to 1187) and managed to recover partial losses.

* Due to recent recovery in the prices, key technical indicator-RSI also reversed from sub-60 mark and about to give positive cross-over, which is signaling strength

14/07/2017 1:33:01 PM | Posted in Broking Firm Views - Short Term Report read full news
Positive On Hindustan Zinc Ltd For Target Rs.301.00 - Reliance Se

STOCK IN FOCUS

* Hindustan Zinc Ltd (HZL) outperformed the Nifty Metal Index and closed 1% higher.

* The company recently announced its 4QFY17 results and delivered the best ever quarterly performance primarily on account of record mined metal volume and strong zinc prices

* Its EBITDA rose by 187% YoY and 35% QoQ to Rs37.5bn. Mined

14/07/2017 1:29:20 PM | Posted in Broking Firm Views - Short Term Report read full news
Reliance Securities Quarterly result1 total income up 51%

Reliance Securities, the broking and distribution arm of Reliance Capital, on Thursday reported that its total income for the quarter ended June 30 increased by 51 per cent.

According to the company, the first quarter (Q1) total income increased to Rs 82 crore ($13 million).

Similarly, the company's profit before tax rose edged up to Rs 7 crore ($1 million) in

FMCG Sector Update Subdued Performance on the Cards - Reliance Se

Subdued Performance on the Cards 

We expect implementation of GST to have an adverse impact on performance of consumer companies in 1QFY18. Lack of clarity over input tax credit on old stocks resulted in trade de-stocking its inventory in June before the GST rollout, which impacted the primary sales of most consumer companies. We expect the situat

12/07/2017 3:36:52 PM | Posted in Broking Firm Views - Sector Report read full news
IT Sector Update Currency Fluctuations to Add to the Woes - Reliance Se

Currency Fluctuations to Add to the Woes

Sector Preview

We expect the IT firms under our coverage universe to post a combined 2.2% QoQ rise in USD revenue in 1QFY18. We expect the Top-5 IT firms to post 0-3% QoQ USD revenue growth in reported terms (0-2% in CC terms), with Tech Mahindra (TechM)and HCL Tech (HCLT) to lead the

12/07/2017 3:20:06 PM | Posted in Broking Firm Views - Sector Report read full news
Banking Sector Update Challenging Quarter in the Offing - Reliance Se

Challenging Quarter in the Offing

The performance of Banking, Financial Service & Industry (BFSI) is likely to remain under pressure owing to slower momentum in NII growth and higher credit cost. We expect the banks having significant exposure to corporate term loan to report sequential rise in slippages and higher provisioning expenses. The Reserv

12/07/2017 3:14:32 PM | Posted in Broking Firm Views - Sector Report read full news
Sell Tata Chemicals Ltd For Target Rs.590.00 - Reliance Se

* Tata Chemicals witnessed sharp rebound from Rs585, but later the stock reversed after facing resistance of its life-time-high (Rs666.5) and slipped to 5-day closing low.

* Due to recent decline in the prices, key technical indicators-Stochastic and RSI reversed from their overbought zone and bear market resistance area (60-67) respectively, signaling near-term weakness in the stock.

12/07/2017 1:48:36 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy IndusInd Bank Ltd For Target Rs.1,716.00 - Reliance Se

STOCK IN FOCUS

* IndusInd Bank closed flat, outperforming benchmark Bank NIFTY by 0.4%.

* The bank has delivered a healthy performance on operating as well as assets quality front in 1QFY18. Its profit after tax grew by 26.5% YoY and 11.3% QoQ to Rs8.4bn led by robust growth in balance sheet and healthy improvement in NII and fee-based income

12/07/2017 1:43:22 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Indian Bank Ltd For Target Rs.341.00 - Reliance Se

STOCK IN FOCUS

* Indian Bank closed 1.6% higher, outperforming benchmark NIFTY by 0.6%.

* Despite tough operating scenario, the Bank has delivered an improved performance in 4QFY17/FY17 on key operating and asset quality parameters.

* Management is gradually infusing confidence through major changes in operating structure, which has

11/07/2017 1:28:57 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Power Finance Corporation Ltd For Target Rs.134.00 - Reliance Se

* The stock has corrected sharply in the last one quarter from the high of 168 levels. Stock has made a strong bottom in the last few days with strong volumes and positive price action.

* Stochastic & RSI are also coinciding with our view, as both the indicators are in bullish mode.

* However in case of major decline multi week support of 115 will continue to work as key

10/07/2017 12:06:08 PM | Posted in Broking Firm Views - Short Term Report read full news
Buy Jyothy LaboratoriesLtd For Target Rs.431.00 - Reliance Se

STOCK IN FOCUS

* Jyothy Laboratories (JYL) closed 1.8% higher in trade today at Rs367 vs. flat close in the benchmark Nifty.

* JYL has a strong portfolio of brands like Ujala, Maxo, Exo, Margo, Henko and Pril among others in its portfolio.

* The company is focused on improving its direct distribution network and reduce dependence on

10/07/2017 11:55:40 AM | Posted in Broking Firm Views - Short Term Report read full news
Cement Sector Monthly Update Demand Recovery Persists; Prices Softened Moderately - Reliance Sec

Demand Recovery Persists; Prices Softened Moderately

Demand scenario continued to remain firm in Jun’17 barring last few days on account of premonsoon construction activities and delayed rainfall in select pockets. However, all India average cement price corrected by 2% MoM, as prices softened across regions except Eastern region. Despite incide

8/07/2017 2:28:29 PM | Posted in Broking Firm Views - Sector Report read full news