Friday, 18 January 2019

Wipro Q3FY19E Result Expectation

Consensus expectations for Q3FY19E:
  • Revenue – Rs15,220cr, up 4.7% qoq driven by incremental revenue contribution from the Alight deal and strength in the Financial Services vertical. Reported revenue growth for IT services is expected to be lower as PSU/Govt business will be carved out of the IT services segment.
  • EBIT – Rs2,622cr, up 35.2% qoq
  • EBIT Margin – 17.2%, up ~280bps qoq on reported basis. There were certain exceptional items in Q2FY19 adjusting for which the expansion would be ~50bps qoq. Margin expansion would be aided by operational efficiencies and favorable currency
  • PAT – Rs2,336cr, up 23.7% qoq.

Q2FY19 performance highlights:
  • Revenue –  Rs14,541cr, up 4.0% qoq, aided by sustained momentum in BFSI and growth in Energy, Natural Resources & Utilities and Communication vertical.
  • EBIT – Rs1,913cr, down 4.4% qoq.
  • EBIT Margin – 13.2%, down 130bps. This rise is on reported numbers and adjusting for the loss from settlement with a key client; the adj. EBIT margin stood at 16.7%.
  • PAT – Rs1,889cr, down 10.9% qoq. Adjusting for the loss from the abovementioned settlement, the adjusted PAT would have been Rs2,287cr.

Thursday, 17 January 2019

Norwegian Government Institution signs MoU for credit facility to Srei Equipment Finance

Srei Equipment Finance Limited, a wholly-owned subsidiary of Srei Infrastructure Finance Limited, announced that it has signed a Memorandum of Understanding (MoU) with Eksportkreditt Norge AS (ECN), a Norwegian state-owned provider of export credits, to facilitate financing of equipment import from Norway to India.
The MoU was signed at the India-Norway Business Summit 2019 in the presence of Hon'ble Prime Minister of Norway, Erna Solberg. The MoU will strengthen the relationship between India and Norway economically.

Commenting on the partnership, Hemant KanoriaChairman and Managing DirectorSrei, said: "The partnership with ECN reinforces the trust of global development finance institutions in our business and strong customer relationships. The MoU will promote Norwegian capital goods and equipment manufacturers to grow their business in India. It will also provide financing and support co-operation between Indian enterprises and Norwegian capital goods manufacturers."


Wednesday, 16 January 2019

KPIT Tech declines 4% post Q3FY19 numbers

KPIT Technologies' shares were trading 4% down on Wednesday after the company reported a lower-than-expected set of numbers for Q3FY19 on all fronts.

Revenue during the quarter declined by 1.6% qoq to Rs1,061cr against the median consensus estimate of Rs1,108cr. Revenue in dollar terms declined 2.3% qoq to $149mn. Reported EBITDA came in at Rs93cr, down 15.0% qoq against the median consensus estimate of Rs113cr. The EBIT margin stood at 8.8%, down 138bps qoq. The reported PAT declined by 22.1% qoq to ~Rs64cr.

The fall could be attributed to furloughs and holidays which led to an average loss of 1.5 billing days per person. This had a negative impact of ~2.5% on IT revenues. Additionally, there were two large projects completed during the quarter leading to lower billings and revenue impact of 3.5% on the IT revenues.

Tuesday, 15 January 2019

ICICI Securities loses 4% post disappointing Q3FY19 results

Shares of ICICI Securities slipped 4% in intraday trade on Tuesday after the company posted weak number for the quarter ended December 2018.

ICICI securities Ltd’s revenue declined by 18% yoy and 11.6% qoq to Rs405cr. EBITDA came in at Rs170cr, down 32.2% yoy and 23.3% qoq.

EBITDA margin contracted by 879bps yoy and 639bps qoq to 42.11%. Company’s adjusted net profit stood at Rs101cr, down 34.3% yoy and 24.6% qoq. Net profit came below estimate of Rs116cr.

ICICI Securities Limited provides institutional and retail broking, merchant banking, and advisory services to corporates, financial institutions, high net-worth individuals, and retail investors in India. It operates through three segments: Investment & Trading, Broking & Commission, and Advisory Services.

ICICI Securities Ltd is currently trading at Rs263.70 down by Rs12.35 or 4.47% from its previous closing of Rs276.05 on the BSE.

The scrip opened at Rs261.05 and has touched a high and low of Rs270.15 and Rs258.70 respectively. So far 8,53,377 (NSE+BSE) shares were traded on the counter.



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Monday, 14 January 2019

Nifty Metal index drops 1% led by Jindal Steel, NALCO, SAIL, JSW Steel

The Nifty Metal index dropped 1% in afternoon trade on Monday owing to

sell-off witnessed in Jindal SteelNALCOSAILJSW Steel, and Vedanta.

Shares of Jindal Steel & Power, NALCO,

and SAIL, which slipped 3% each, were leading the index’s fall. Shares of Vedanta, JSW Steel, and Jindal Stainless (Hisar) also contributed to the decline each trading 2% lower. Welspun CorpCoal India, and Tata Steel also slipped 1% each.

The fall could be attributed to disappointing economic data from China, the world’s largest industrial metal consumer. As per Chinese government data, total exports fell to $221.25bn in December, down 1.4% from November, and 4.4% from the same month in 2017. Total imports fell to $164.19bn, a decline of 10% from last month and down 7.6% a year earlier.

Meanwhile, equity benchmark indices were trading in the red on Monday with the Sensex trading 243 points at 35,767 levels. The Nifty also dropped 80 points to trade at 10,714 levels.

Friday, 11 January 2019

Gold prices rise as Fed stance weakens dollar

Gold prices climbed on Friday as the dollar retreated on expectations the Federal Reserve may pause interest rate hikes if the U.S. economy slows this year, while investors awaited news on progress in the Sino-U.S. trade talks.
Spot gold rose 0.6 percent to $1,293.55 per ounce as at 0604 GMT, heading for a fourth straight weekly gain. The yellow metal is up 0.7 percent so far this week.
U.S. gold futures were up 0.5 percent at $1,293.4 per ounce.
"The weaker dollar and a more dovish Fed are the two most alluring factors for gold," said Stephen Innes, APAC trading head at OANDA.
"There are concerns for the U.S. economy to slow down, perhaps towards the end of 2019 and into 2020, so the markets are pricing rate cuts."
The dollar slipped against other major currencies, having rebounded on Thursday from three-month lows helped by Federal Reserve Chairman Jerome Powell's comment suggesting the central bank is not done tightening monetary policy just yet.
A partial U.S. government shutdown extended into its 20th day and provided little comfort to the U.S. currency, after President Donald Trump threatened on Thursday to use emergency powers to bypass U.S. Congress to pay for a wall on the U.S.-Mexico border.
"The (gold) market is holding back a little as they are concerned the equity market could rally significantly on trade war truce," Innes said.

Thursday, 10 January 2019

Asian stock markets trade flat; Nikkei 225 down ~1%

Asian stock markets erased morning losses and are now trading slightly higher as markets take a breather after rallying this week on optimism over China-US trade talks and the Federal Reserve’s softer tone on interest rates.

Investors also digested official data that China's inflation for December came in below expectations.

Oil stocks are trading higher after crude oil prices gained more than 5% overnight.

Delegations from China and the US ended three days of trade talks in Beijing on a positive note. This was the first face-to-face negotiations since both sides agreed a 90-day truce in the ongoing trade war that has disrupted the flow of hundreds of billions of dollars of goods, as per media reports.

Elsewhere in Asia, Shanghai, South Korea, Singapore, New Zealand, Hong Kong and Taiwan markets are trading lower, while Indonesia and Malaysia markets are modestly higher.

Wednesday, 9 January 2019


OPTION CALL: BUY BIOCON 640 CALL ABOVE 19.00 TARGETS 21.00 / 24.50 / 28.00 STOPLOSS 15.70

OPTION CALL: BUY INFY 680 CALL ABOVE 25.00 TARGETS 26.50 / 29.00 / 32.50 STOPLOSS 22.30 

OPTION CALL: BUY HDFCBANK 2120 PUT ABOVE 42.00 TARGETS 50.00 / 62.00 / 78.00 STOPLOSS 30.00

Saturday, 5 January 2019

Nifty, Sensex fall in the first week of 2019 amid weak global cues

The first week of the calendar year 2019 ended with losses amid broad-based selling pressure. A sell-off in the US equity markets led to a weakness in global markets, consequently leading to a phase of declines in the Nifty too.

Moreover, sentiment took a further hit over the fiscal deficit situation after the government, once again, missed the Rs1 lakh cr monthly GST collection target in December. This raised concerns that the government may fail to contain the fiscal deficit.

Sector-wise, most IT stocks suffered losses on Friday after the Indian currency appreciated against the US dollar. In addition, investor sentiment was also hit after the tech-heavy Nasdaq index fell sharply.

Metals stocks too lost their sheen after Chinese data showed a drop in factory output, indicating a slowdown. Tata Steel, Hindalco, and Jindal Steel & Power were among the top losers.

Friday, 4 January 2019

Share Market Update: 10 Stocks that have witnessed maximum change in Put-Call ratio

What is Put/Call Ratio?   
Put/Call ratio (PCR) is a popular derivative indicator, specifically designed to help traders gauge the overall mood of the market. The ratio is calculated either on the basis of options trading volumes or on the basis of the open interest for a particular period.  If the ratio is more than 1, it means that more puts have been traded during the day and if it is less than 1 it means more calls have been traded. The PCR can be calculated for the options segment as a whole which includes individual stocks as well as indices.

How is the Put/Call ratio calculated? 
a) Open Interest Put/Call ratio
Open Interest PCR is calculated by dividing the total number of open interest in all the available Put option strikes across the series by the total number of open interest in all the available Call option strikes across the series.
PCR (OI) = Put open interest /Call open interest.

b) Volume Put/Call ratio
Volume PCR is calculated by dividing the total volume traded in all available Put option strikes across the series by the total volume traded in all available Call option strikes across the series. 

PCR (V) = Put traded volume/Call traded volume.

Following is the list of stocks that have witnessed maximum change in their put/call ratio in the last trading session: 

PCR Open Interest
UnderlineCurrentPrevious% Change

PCR Volume
UnderlineCurrentPrevious% Change

Thursday, 3 January 2019

L&T Construction wins orders worth Rs1,060cr

The construction arm of L&T has won orders worth Rs1,060cr.

The Smart World and Communication business has secured a major order from the Andhra Pradesh State FiberNet Ltd (APSFL) for Bharatnet Phase-II works to establish an IPMPLS Infrastructure covering the 13 districts of Andhra Pradesh, as per BSE data.

The scope of the work involves the creation of a digital infrastructure, including implementation, end to-end integration and commissioning of IP/MPLS Network, Network Operating Centre (NOC), Disaster Recovery, Cloud-based Data Centre (DC) with key network elements such as NMS/EMS/BSS, Access Gateways and other related services including storage/ servers, network security, etc.

The project will interconnect citizens, government, business & communities and will serve as the backbone for all the connectivity requirements & ICT-led projects in the state, the filing added.

Wednesday, 2 January 2019

NCC jumps 3% on winning orders worth Rs2890cr

Shares of NCC Ltd jumped 3% as the company announced winning 4 orders worth Rs2,890.7cr in December, 2018. The orders are from central and state government agencies.

The company said in the filing that, “out of this, one order of Rs680cr pertained to water and environment division, two orders totalling to Rs2,126.8cr related to roads division, and the fourth order of Rs83.7cr pertained to building division.

These orders are received from central / state government agencies and do not include any internal orders, the company added.

NCC Ltd is currently trading at Rs91.10 up by Rs2.25 or 2.53% from its previous closing of Rs88.85 on the BSE. The scrip opened at Rs89 and has touched a high and low of Rs91.35 and Rs88.60 respectively. So far 1,26,85,112 (NSE+BSE) shares were traded on the counter.

Monday, 31 December 2018

RCom, Jio extend pact’s validity date to June 28, 2019

Reliance Communication (RCom) and Reliance Jio have extended the validity of the agreement signed on December 28, 2017, for the sale of towers, fibers, MCNs, and spectrum of RCom and its affiliates to June 28, 2019, the company said in a press note to the exchanges on Monday.

"The transactions are to be consummated subject to various approvals that are presently in progress," the company said in a press note to the exchanges on Monday.

Earlier in this month, the Department of Telecommunication (DoT) had rejected the firm’s spectrum sale deal with Reliance Jio Infocomm. The telecom department, on Tuesday, told RCom and Reliance Jio that it cannot approve their deal to trade airwaves as it does not conform to its guidelines.

Reliance Communications Ltd's share price is currently trading at Rs14.68, down by Rs0.01 or 0.07%, from its previous close of Rs14.69 on the BSE.


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