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LORD JESUS CHRIST SAYS

“Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; the one who seeks finds; and to the one who knocks, the door will be opened. Matthew 7:7-8

27 Aug 2016

STOCK MARKET-OVER NIGHT TIPS-STOCKS TO WATCH FOR ON 29/8 & MID MARKET COMMENTARY 26/8

Top of Form
The stocks which could witness a significant movement on August 29 are Capital Trust, Trident, IOC, Alankit and DLF.
a) Capital Trust: Company has informed the bourses, that RBI has granted it permission to acquire 100 per cent shareholding of Parikarma Investments and Financial Services, an NBFC.
b) Trident: Company was the largest gainer of Aug 26. According to some media houses Target Corp has asked for the sample of bedsheets from the company. Target Corp has ended all the ties with its prime supplier Welspun India.

c) IOC: Q1FY17 results are expected on August 29. It could be interesting to watch the results. However, in Q1FY16, company has reported a net profit of Rs 6435 crores.
d) Alankit: Company post market hours on Aug 26 has declared its Q1FY17 results. Net profits of the company in Q1 stand at 1.89 crores. Board has also recommended issue of bonus shares in the proportion of 1:1.
e) DLF: Company will also declare its Q1FY17 results on August 29. The scrip of the company closed at Rs 159.90, marginally down by 1.17 per cent on Friday.
Top of Form
Mid-market commentary Aug 26

Indian markets opened on a positive note but retreated from the very moment to trade in red, continuing with its previous fall. Markets have seen gradual lower tops and lower bottoms in the intraday trade. Broader markets are flat. On sectoral front, PSU Banks have tumbled the most by 1.3 per cent driven down by IDBI Bank that tumbled 5.6 per cent. Energy is trading against the market with 0.74 per cent gains pulled up by GAIL and RIL surging 3 and 1.3 per cent respectively.

Asian markets are majorly lower with Nikkei tumbling 1 per cent, but Hang Seng and Shanghai Composite are marginally higher. European markets opened in red but are trading marginally up where investors await Janet Yellen’s speech in Jackson Hole to decide upon the interest rate hike.

Nifty has broken our major support at 8570, and hence if Nifty closes below 8570, we may expect some more downside up to 8540-8515 on an immediate basis. In case of a rebound we hold 8626 followed by 8680 as the resistance.

Stocks to watch:

Tata Motors: The stock of Tata Motors has surged 1.8 per cent ahead of its Q1 results, where investors expect the JLR revenue to grow 5 per cent.

Lupin: The drug making company has recently received tentative USFDA approval for Generic Paxil CR tablets.

Trident: The shares of Trident have risen 14 per cent owing to media reports that the financial services company, Target Group has plans of shifting Welspun’s contract to Trident.

Eros International Media: According to  media reports, Eros International Media  has announced an integration deal with Reliance Jio. BSE has sought for a reply from the company. The shares have surged 2.8 per cent.

ICRA/CRISIL/CARE: The stocks of credit rating agencies have surged up to 15 per cent after RBI announced a package of measures for development of fixed income and currency markets. This is a inclusive set of guidelines to cut multiple issues.

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