JK Tyre & Industries Ltd
JKTYRE, after a recent breakout from its mid and short-term moving averages (100/50 EMA) on daily chart, has witnessed a marginal pause, offering fresh opportunity to re-enter. Hence, we suggest traders can accumulate as per the mentioned levels.
20/03/2017 12:07:43 PM
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APOLLOTYRE shed 1.5% of open interest as short covering. Call buying (unwinding by writers) was seen at 190 & 200 strikes and put writing was seen at 185 & 175 strikes. On charts, it has created a buying pivot on daily as well as on weekly charts. We recommend buying APOLLOTYRE 190 CE as per levels mentioned be
APOLLOTYRE added around 1.60% of open interest as long positions. Call buying was seen at 195 strike and some put writing was seen at 185 & 180 strike. We suggest buying 195 CE as per mentioned levels.
BUY APOLLOTYRE 195 CE AT 4.50-5, SL 1.80, TARGET 12
* The stock is making higher bottoms on daily charts in the past days, with crossover of short term averages confirming the uptrend and we believe the stock risk reward is very favorable.
* The key technical indicators and RSI are showing signs of reversal on the upside with strong volume in the past few days poised for a b
Volumes on a roll but near-term stress on margins CEAT posted a strong 10% YoY growth in its Q3FY17 volumes, leading to above-expected revenues of Rs 14bn (RCMLe 12bn). However, EBITDA margins slid 200bps QoQ to 11% (RCMLe 11.5%) on higher RM prices and an adverse product mix. Adj. PAT stood at Rs 838mn, down 25% YoY. We cut our FY18/FY19 EPS by 6%/7% to build in rising RM pressures, and roll o
* APTY Q3 revenue/EBITDA has come in 11%/8% above consensus estimates largely on account of better performance from European business.
* EBITDA margin came in at 14.4% (-280bps YoY, +20bps QoQ) against consensus expectation of 14.7%. Standalone EBITDA margin came in at 14.6% (-130bps QoQ) on account of higher raw material costs.
* Management believes a 6-7% price hike is ess
APTY's results came in ahead of expectation on account higher than expected revenues from the European business. Consolidated revenues grew by 17% YoY. EBITDA margin contracted YoY and QoQ to 14.4% on account of rise in raw material cost. However, high other income and lower tax rate translated into 6% growth in PAT, despite 2% decline in EBITDA. Going ahead, we expect there various drivers
Chennai-based tyre maker MRF Ltd on Friday reported a drop of 30.7 per cent in its standalone net profit after taxes (PAT) at Rs 288.08 crore for the quarter ended December 31, 2016, due to higher expenses. “The standalone net profit of the company stood at Rs 415.59 crore during the same period a year ago,” MRF Ltd said in a filing to the BSE on February 03, 2017.
Tyre manufacturers and MSMEs in rubber industry have expressed disappointment over the Union Budget not addressing their demand to remove inverted duty structure on tyre and rubber. While hailing the increased allocation for infrastructure and road sector in the Union Budget, the tyre industry expressed concerns over exclusion of rubber and tyres in the list of items on which duty inversion has
Leading tyre manufacturer Apollo Tyres Ltd on Wednesday reported a rise of 6 per cent in its consolidated net profit after taxes (PAT) at Rs 295.69 crore for the October-December quarter ended December 31, 2016. “The consolidated net profit of the company stood at Rs 279.02 crore during the same period a year ago,” Apollo Tyres Ltd said in a filing to the Bombay Stock Exchange on Fe
Strategy: CEATLTD added around 13% of open interest as long positions. Daily vwap is around 1210 levels. On charts, it is trading on verge of trendline breakout on daily charts, it is also trading above short term as well as long term moving averages on same time frame. We suggest buying CEATLTD 1220 CE as per levels given below.
* The company is a part of the century-old JK Organisation, one of India’s leading private sector conglomerates with a multi-product, multi-location and multi-business operations.
* The company’s manufacturing operations comprise 12 modern plants strategically located across the country – My
MRF Ltd has said that the company has signed a Memorandum of Understanding [MOU] with the Government of Gujarat expressing its in-principle intention to set up a new manufacturing facility in Gujarat for manufacture of automotive tyres, tubes, flaps and related products.
The company proposes to invest a sum of about Rs. 4500 crores over a ten year period in a phased manner. The new pl
Apollo Tyres Limited
We’re reiterating our buy recommendation on Apollotyre as it was initiated in the given range.
Buy Apollo Tyres Limited @ 196-198 Stoploss 187 Target 214 CMP 197.10
12/01/2017 10:46:04 AM
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Apollo Tyres Limited
After the recent fall, APOLLLOTYRE has formed a fresh buying pivot around its major support zone of long term averages on the daily chart. Traders shouldn’t miss the opportunity and accumulate fresh in the given range