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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

31 Aug 2016

STOCK MARKET-OVERNIGHT DIGEST STOCK TIP TO LOOK OUT FOR ON 31/8&MID MARKET COMMENTARY 30/8.

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The stocks which could witness a significant movement on August 31 are Coal India, Multi Commodity Exchange of India, Steel Authority of India, Indian Oil Corporation and Tata Consultancy Services.

Coal India: The company has announced a buy back of shares not exceeding the value of 10,89,55,223. These will be fully paid up equity shares of FV Rs10/equity share as on record date September 09, 2016 at price of Rs.335. The stock is likely to soar in the coming session.

MCX: Multi Commodity Exchange of India, an electronic commodity futures exchange will release its Q1FY17 results on Wednesday. The stock is likely to remain volatile throughout the day on Aug 31.



SAIL: Steel Authority of India has received the central green panel’s environmental clearance for Rs 5,419-crore expansion and modernisation project at its Rourkela plant in Odisha. The stock may see some upside in the coming session.

IOC: Indian Oil Corporation, yhe oil firm has raised four-fold crude oil import from Iran. The company has contracted to import 5 million tonnes of crude oil in FY2016-17 as against current 1.2 million tonne. The stock will remain in the limelight in Wednesday's session.

TCS: Tata Consultancy Services, the IT major has announced a development of innovative digital solution to connect intelligent LEDs with Smart LEDs and Predix for revolutionising Gas Turbine manufacturing.
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Mid-market commentary Aug 30
Indian markets saw a gap up opening, followed by previous day’s recovery and positive closing in other global markets. The benchmark indices are nearly 1 per cent up where Nifty  has hit 8700 mark; and Sensex has gained 300 plus points at 28200 levels. Midcap has hit 52 week high at 13181 levels.

Grasim, Tech Mahindra, Bajaj Auto and Maruti are the top gainers with 3 per cent plus upside. Otherwise Bharti Airtel is the only frontliner with 3 per cent downside amid slashed prices of its internet packages.

Asian markets were mostly higher where Hang Seng surged 1 per cent. Nikkei remained flat to negative amid profit booking. Shanghai Composite was marginally up with 0.15 per cent. European markets opened in the mix but surged 1 per cent while FTSE 100 is flat.

Nifty gave a breakout at 8675 levels and hence should sustain above 8675-8680 in order to sustain the optimism. 8730 followed by 8765 will be the next resistances for the Nifty. On the downside, 8620 will act as the support for now.

Stocks to watch:

Reliance Communications: The company is said to announce 300 minutes of app to app calling for Re1. The stock is yet to react to the news.

Maruti Suzuki: The leading passenger vehicle maker Maruti Suzuki India has launched sporty Swift Deca petrol and diesel cars with customer price of Rs 594445 and Rs 686983 respectively. The stock zoomed 3 per cent with the launch.

Aditya Birla Nuvo: The company denied the media report that the Aditya Birla group plans to exit low margin businesses in India and advised investors and shareholders to ignore the rumour. The stock soared 5 per cent after consolidating from past 10 sessions.

Artson Engineering: The shares of the company have risen 9 per cent after it bagged order worth Rs 24.43 crore from Mumbai Aviation Fuel Farm Facility (MAFFFPL) for design, fabrication, erection and testing of five fixed cone roof storage tanks.

TD Power Systems: The shares of the electrical equipment company surged 9 per cent after it announced that it will supply 45 railway application generators to a multinational company, for installation in North America.

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