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Weekly Sector Report :07.08.2017 to 11.08.2017

Weekly Sector Report :07.08.2017 to 11.08.2017

Indian Market Outlook for the week – 07 to 11.08.2017

Bank Stocks Outlook for the week – 07 to 11.08.2017

Auto Stocks Outlook for the week – 07 to 11.08.2017

IT Stocks Outlook for the week – 07 to 11.08.2017

Telecom Stocks Outlook for the seek – 07 to 11.08.2017

Cement Stocks Outlook for the week – 07 to 11.08.2017

Capital Goods Stocks for the week – 07 to 11.08.2017

Pharma Stocks Outlook for the week - 07 to 11.08.2017

FMCG Stocks Outlook for the week – 07 to 11.08.2017

Indian Market Outlook for the week – 07 to 11.08.2017

Indian Market Outlook for the week – 07 to 11.08.2017


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Indian Market Outlook for the week – 07 to 11.08.2017
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The Benchmark stock indices are likely to rise next week on positive cues, with investors awaiting the US July jobs data and a string of corporate earnings starting Monday. Global markets will track the data for cues on the US economy as the Federal Reserve's decision on future rate trajectory will depend on these figures. A strong rupee against the dollar, weak trend in global crude prices, and the fall in inflation are the factors that are working in favour of the Indian stock market, mainly the banking and financial sector. As long as bank stocks are continuing to rally, the benchmark indices
are likely to hit new highs. The stocks of the cement, automobiles, and metals sector are also likely to be in focus next week due to the strong sales numbers from these sectors. A host of Apr-Jun earnings of companies will be eyed next week. Tata Steel will report its results on Monday. On Wednesday, Aurobindo Pharma and Tata Motors will announce their Apr-Jun earnings, while GAIL India will announce its results on Thursday. Other leading companies which will announce their earnings next week are Bharat Petroleum Corp, Bank of Baroda, State Bank of India, Hindalco Industries, Cipla,
Sun Pharmaceutical Industries, Eicher Motors and Bosch. Stocks of state-owned companies and those of companies in Specified Undertaking of Unit Trust of India will also be in focus after the government launched the new exchange traded fund Bharat-22. The exchange traded fund comprises shares from six sectors--basic metals, finance, fast moving consumer goods, industries and utilities.


Source : Cogencis Information Services Ltd.

Bank Stocks Outlook for the week – 07 to 11.08.2017

Bank Stocks Outlook for the week – 07 to 11.08.2017


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Bank Stocks Outlook for the week – 07 to 11.08.2017
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The Bank stocks are likely to rise and outpace broader markets next week, with stockspecific action likely from earnings announcements by some large state-owned and small private-sector banks. However, on technical factors, the recent all-time high for the banking index is expected to emerge as a resistance. We expect the recent all-time high hit by index to act as a hurdle and see it consolidate
near 24700 levels. We feel the recent high is likely to act as a stiff hurdle. Going forward, the index is likely to slide towards 24500. Additionally, Reserve Bank of India's decision to cut repo rate by just 25 basis points on Wednesday, even as it flagged inflation risks and maintained a neutral stance on monetary policy, has also dampened banking stock investors' expectations of future policy rate reductions. Earnings due over the weekend and in the coming week such as those of Syndicate Bank,
Bank of India, Bank of Baroda, Union Bank of India, Indian Overseas Bank, Dhanlaxmi Bank, Allahabad Bank, Corporation Bank, Punjab National Bank, City Union Bank, Oriental Bank of Commerce and the first results of the combined post-merger State Bank of India. SBI's management has already guided for slightly muted earnings in Apr-Jun, due to the costs related towards managing the transition of erstwhile associate bank provisions to its own levels and other operational expenses linked to managing one-off costs such as voluntary retirement of some staff and technology spend.
While most of the state-owned banks are expected to report muted earnings, Bank of Baroda and State Bank of India could surprise on the upside, due to the higher level of asset quality provisions made by these lenders in the past. Axis Bank and Canara Bank, which have seen a build up in short positions in recent sessions, are likely to see profit booking in the coming sessions.


Bank Stocks Outlook for the week – 07 to 11.08.2017

Auto Stocks Outlook for the week – 07 to 11.08.2017

Auto Stocks Outlook for the week – 07 to 11.08.2017


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Auto Stocks Outlook for the week – 07 to 11.08.2017
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Stocks of most automobile companies are expected to rise next week on the back of a positive sentiment for the sector due to prospects of good monsoon and robust monthly sales figures of July. India's largest two-wheeler manufacturer, Hero MotoCorp Ltd, posted its third consecutive monthly sales over 600,000 units. The company's sales volume grew 17% on year to 623,269 units in July.
The company remains the top pick in the two-wheeler space on account of recovery in rural demand, onset of marriage season, new product launches and improvement in export volumes due to penetration in new markets. The company is expected to be one of the top beneficiaries of good monsoon as more than half of the sales of the New Delhi-based automaker come from rural regions. The stocks of Maruti Suzuki soared to hit its lifetime high of 7,920 rupees on better-than-expected July sales of 165,346 units, 20.6% up on year. Continue to like the company due to sustained demand of its popular models such as Baleno hatchback and Vitara Brezza compact sport utility vehicle and fresh capacity addition at the Gujarat plant. The company is also expected to reap benefits from improved rural sentiment because over one-third of the sales come from rural markets. Mahindra & Mahindra Ltd yesterday reported lower-than-expected earnings due to a fall in its commercial vehicle sales and nominal growth in its passenger vehicle business. While the company witnessed weak performance in other segments, its tractor segment is seen benefitting due to improving rural economy.

Source : Cogencis Information Services Ltd.

IT Stocks Outlook for the week – 07 to 11.08.2017

IT Stocks Outlook for the week – 07 to 11.08.2017


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IT Stocks Outlook for the week – 07 to 11.08.2017
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The shares of information technology companies may rise next week as market enters consolidation mode. Tech Mahindra Ltd declared its earnings for Apr-Jun. Beating market expectations; the company reported a 36% sequential rise in consolidated net profit, mainly due to a 1.7-bln-rupee rise in other income during the quarter. The topline company rose 0.6% in dollar terms and revenue from operations fell 2.1% to 73.4 bln rupees. Next week, shares of Tech Mahindra are seen trading in the range of 370- 460 rupees, while those of Infosys are seen finding support at 935 rupees and a resistance at 1,130 rupees. Shares of HCL Technologies are seen trading in the range of 830-980 rupees, while those of Tata Consultancy Services are seen trading with support in the range of 2,400-2,470 rupees and resistance between 2,625 rupees and 2,700 rupees.

Source : Cogencis Information Services Ltd.

Telecom Stocks Outlook for the seek – 07 to 11.08.2017

Telecom Stocks Outlook for the seek – 07 to 11.08.2017


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Telecom Stocks Outlook for the seek – 07 to 11.08.2017
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The shares of most telecommunication companies are seen falling further next week on the back of sustained pressure on revenue streams of operators due to intense competition from latest entrant Reliance Jio Infocomm Ltd. The recent launch of the "effectively free" fourth-generation mobile phone by the telecom arm of the cash-rich Reliance Industries Ltd for a refundable deposit of 1,500 rupees is expected to put pressure on operators to launch similar offerings to protect their subscriber
base. India's largest telecom service provider in terms of revenue and market share Bharti Airtel,
however, has no plans to launch subsidised phones, Chief Executive Officer Gopal Vittal
had said in a post-earnings conference call last week. With Reliance Jio's feature phone broadening its addressable market, competitive intensity may likely lead to weaker revenue and profitability for Bharti Airtel. Bharti Airtel posted a consolidated net profit of 3.67 bln rupees in Apr-Jun, down 1.6% on quarter, missing the estimate of 4.0 bln rupees. Consolidated net loss for the third largest operator Idea Cellular widened to 8.15 bln rupees in Apr-Jun from 3.28 bln rupees in the previous quarter,
missing the consensus estimate of a 7.20-bln-rupee loss. Vodafone India Ltd and Idea Cellular have announced a merger, which has received the Competition Commission of India's nod but other regulatory approvals are pending. Bharti Airtel, too, has announced two separate acquisitions, of Tikona Digital Networks Ltd and the Indian arm of Norway's Telenor ASA. ICRA, in a recent report, said it continues to hold a negative outlook for the sector, which will keep facing headwinds due to competition and the industry revenue is expected to come down to 2.4 trln rupees for 2017-18 (Apr-Mar). Taking cognisance of the pressure, the government has set up an inter-ministerial panel to
recommend ways to improve the financial health of the sector. The panel has met operators
and banks, and is expected to come out with its report soon.

Source : Cogencis Information Services Ltd.

Cement Stocks Outlook for the week – 07 to 11.08.2017

Cement Stocks Outlook for the week – 07 to 11.08.2017


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Cement Stocks Outlook for the week – 07 to 11.08.2017
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The shares of cement companies are seen trading mixed next week, with Ambuja Cements Ltd and ACC Ltd expected to gain, while UltraTech Cement Ltd is seen trading in a thin range. Cement prices across the country have declined by 3 rupees per month till now, led by 10 rupees per month decline in western states. The prices normally decline during this period as demand falls due to the monsoon. GST too had an impact as it caused some disruptions. However the disruption caused to the cement sector due to the new indirect tax regime was for a very short term, and things are back to usual now.
A pick-up in housing and prices of petroleum coke will decide the profitability of the cement companies going ahead. Rise in prices of petroleum coke hurt Ramco Cements Ltd and JK Lakshmi Cement Ltd, which announced their Apr-Jun results on Thursday. While Ramco Cements' energy costs went up by more than 30%, JK Lakshmi's energy cost rose over 46% in Apr-Jun. However, petroleum coke prices have declined to $89 per tn in July from $100 a tn in May. We remain positive on the sector in the medium-to-long term as demand is seen improving post-monsoon. Good rains along with government focus on infrastructure and affordable housing are seen boosting demand for cement.

Source : Cogencis Information Services Ltd.

Capital Goods Stocks for the week – 07 to 11.08.2017

Capital Goods Stocks for the week – 07 to 11.08.2017


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Capital Goods Stocks for the week – 07 to 11.08.2017
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The shares of capital goods companies are seen trading on a mixed note next week. Sector major Larsen & Toubro Ltd's stock is expected to rise while Siemens Ltd could come see a further downside. Engineering behemoth L&T could trade in the range of 1,190-1,210 rupees next week as sentiment for the stock is positive after the company announced a significant order win worth 33.75 bln rupees from the Mauritius government. Anticipate strong margin recovery through power, heavy engineering, electrical, and automation segments. Shares of Siemens, which fell 5.7% over the last week, are likely to decline further in the short term. We expect CG Power & Industrial Solutions to move in a tight range in the near term, after the company, earlier this week, completed the sale of wholly-owned step-down subsidiary CG Power USA Inc to WEG Electric Corp for $37 mln. The Avantha Group company will use proceeds from the sale to retire part of its overseas debt. CG Power should move between 84 and 88 rupees over the next few weeks. Market participants will also keep an eye on Thermax Ltd and Bharat Heavy Electricals Ltd as they are scheduled to detail their Apr-Jun earnings on Tuesday and Thursday, respectively.

Source : Cogencis Information Services Ltd.

Pharma Stocks Outlook for the week - 07 to 11.08.2017

Pharma Stocks Outlook for the week - 07 to 11.08.2017


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Pharma Stocks Outlook for the week - 07 to 11.08.2017
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The Earnings of pharmaceutical companies will be the key trigger for stocks in the sector next week. Major drug makers like Sun Pharmaceutical Industries, Cipla, Aurobindo Pharma and Cadila Healthcare among others will report their Apr-Jun results. The Pharmaceutical companies are seen reporting dismal numbers for the June quarter as destocking before the introduction of goods and services tax is seen weighing on their domestic operations. In the US, their largest market, we expect topline to be weighed down by fewer approvals and price erosion on account of consolidation of distribution channels and increasing competition. Appreciation of the rupee is also seen weighing on earnings in the exportoriented sector. However, we believe that the issues which are seen weighing on the companies' earnings are factored in the stocks' prices. On the business front, while most of short-term negatives for the sector on US generic pricing pressure appear to be priced in, industry fundamentals continue to weaken structurally. In the near term, higher R&D (research and development costs) for building pipeline and technologies will squeeze margins, but we believe
Specialty and quality pipeline will be the key drivers for future revenue growth and EBITDA (earnings before interest, tax, depreciation and amortisation) margin expansion. On Wednesday, Aurobindo Pharma will post its Apr-Jun earnings. The Hyderabad-based company is expected to report a 4% fall in its consolidated net profit to 5.61 bln rupees.


Source : Cogencis Information Services Ltd.

FMCG Stocks Outlook for the week – 07 to 11.08.2017

FMCG Stocks Outlook for the week – 07 to 11.08.2017


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FMCG Stocks Outlook for the week – 07 to 11.08.2017
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The stocks of most fast-moving consumer goods companies are expected to consolidate next week, with trade channels expected to reach functional efficiency following weeks of disruption with the implementation of the new indirect tax regime. Most FMCG companies such as Colgate-Palmolive (India) Ltd, Hindustan Unilever Ltd and Dabur India Ltd have reported results above or matching market expectations, which may lend some positivity to he stocks.FMCG companies experienced weeks of de-stocking prior to the implementation of the new indirect tax regime, but with the rural demand of the country rising on the back of a good monsoon, companies are expected to show growth going forward. The likes of Dabur and Colgate are among the key beneficiaries of the lower tax bracket under the new goods and services tax. Both the companies have cut prices in their toothpaste and toothbrush categories and are expected to compete aggressively for market share with Patanjali Ayurved Ltd. Industry heavyweight ITC Ltd is expected to trade sideways in the near term after seeing correction for about three weeks. The cigarette maker is expected to launch a wide variety of products in the coming months. Maker of Parachute hair oil, Marico Ltd, has shown a 12% fall in its net profit as stockists and the Canteen Stores Department had deferred purchases ahead of the rollout of the goods and services tax. Biscuit-maker Britannia Industries is expected to rise steadily in the near term and is expected to cross over to the 4,000 rupee level soon. The shares of the
country's largest FMCG company Hindustan Unilever are seen leading the way and rising
over the next few weeks. Most FMCG companies are expected to gain due to the input tax credit benefits under the new tax regime. Input credit is the system by which organised companies, at the time of paying tax on output, can deduct the tax they have already paid on inputs.\


Source : Cogencis Information Services Ltd.

Weekly Sector Report : 31.07.2017 to 04.08.2017

Weekly Sector Report : 31.07.2017 to 04.08.2017

Indian Market Outlook for the week – 31.07.2017 to 04.08.2017

Metal Stocks Outlook for the week – 31.07.2017 to 04.08.2017

I.T Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Telecom Stocks Outlook for the week – 31.07.2017 to 04.08.2017


FMCG Stocks Outlook for the week - 31.07.02017 to 04.08.2017

Bank Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Oil Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Pharma Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Auto Stocks Outlook for the week – 31.07.2017 to 04.008.2017

Cement Stocks Outlook for the week – 31.07.2017 to 04.08.2017


Indian Market Outlook for the week – 31.07.2017 to 04.08.2017

Indian Market Outlook for the week – 31.07.2017 to 04.08.2017


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Indian Market Outlook for the week – 31.07.2017 to 04.08.2017
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Benchmark indices are seen remaining positive next week as traders expect a 25-basis-point interest rate cut by the Reserve Bank of India at its monetary policy meeting on Aug 1-2. Apart from this, Apr-Jun corporate earnings will also be in focus. Expectations from the RBI's Monetary Policy Committee have transformed dramatically since June, with an overwhelming majority of market participants now expecting the rate-setting panel to cut the repo rate by 25 basis points to 6.00%.
Nifty 50 is seen moving within a range of 9860-10800 points in the next week as technically. Yesterday, the 51- stock Nifty 50 index ended at 10014.50 points, down 6.05 points or 0.1% from its previous close. The S&P BSE Sensex ended at 32309.88 points, down 73.42 points or 0.2%.
Nifty 50 constituents Tech Mahindra, Lupin, Power Grid Corp of India, Mahindra & Mahindra and Indian Oil Corp will detail their Apr-Jun numbers over the course of next week. Stocks of Larsen & Toubro are seen gaining on Monday after the company reported consolidated net profit for Apr-
Jun at 8.9 bln rupees, against estimate of 8.63 bln rupees. The company, which posted its earnings post market close yesterday, also reported a 2% on-year rise as on Jun 30 in its Apr-Jun consolidated order book. Among sectors, banking stocks will remain in focus next week because of the monetary policy meeting. After gaining for the 12th straight session, the Nifty Bank index gave up its gains and ended down 0.4%. So far in 2017, the banking index has gained over 36%, outperforming Nifty 50 that has risen over 22% in the same period. Stocks of Housing Development Finance Corp, which had gained over 10% in the past three sessions and have continued to trade at lifetime highs, are seen continuing its upside movement next week.Southwest monsoon could be nearly 98% of the long-period average for July, supported by a pick-up in the current across India in the next few days, according to an official at the India Meteorological Department. The company is banking on operating efficiencies through various initiatives and cost-saving activities at supply chain and
distribution level, which should help recovery in sales in early part of Oct-Mar

Metal Stocks Outlook for the week – 31.07.2017 to 04.08.2017
I.T Stocks Outlook for the week – 31.07.2017 to 04.08.2017
Telecom Stocks Outlook for the week – 31.07.2017 to 04.08.2017
FMCG Stocks Outlook for the week - 31.07.02017 to 04.08.2017
Bank Stocks Outlook for the week – 31.07.2017 to 04.08.2017
Oil Stocks Outlook for the week – 31.07.2017 to 04.08.2017
Pharma Stocks Outlook for the week – 31.07.2017 to 04.08.2017
Auto Stocks Outlook for the week – 31.07.2017 to 04.008.2017
*Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Source : Cogencis Information Services Ltd.

Metal Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Metal Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Metal Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of metal and mining companies are seen weak next week as investors are likely to book some profits after the recent rally in the Space. The Nifty Metal index today ended higher for the fifth consecutive week, having gained nearly 14% during this period. The index was at a near three-year high earlier this week. Benchmark indices Nifty 50 and Sensex closed 1% higher on week, after having hit lifetime highs earlier in the week. Indices have ended higher for the fourth week in a row. While shares of most metal companies saw a subdued week, those of Hindustan Copper stood out, gaining 6.5% tracking the strength in copper prices on the London Metal Exchange. After sharp gains this week, the stock is likely to consolidate in the near term. JSW Steel will be in focus as the company is scheduled to report its Apr-Jun earnings on Tuesday. Weak pricing power, especially for flat products in the domestic market, and high coking coal costs are expected to keep the steel maker's earnings subdued for the quarter ended June.

Source : Cogencis Information Services Ltd.

I.T Stocks Outlook for the week – 31.07.2017 to 04.08.2017

I.T Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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I.T Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of information technology companies are likely to trade sideways next week due to lack of definite cues for the sector. The sector had "bottomed out" post cash curb last year, recovery had been lacklustre as the sector could not outperform the benchmark index. In the medium-to-long term, however, the sector is seen remaining lucrative. The Nifty IT index is seen in the range of 10100-10400 points next week, This week, HCL Technologies declared its earnings for Apr-Jun. The company reported a 17% sequential fall in consolidated revenue, but was able to narrow its losses to 551 mln rupees from 1.24 bln rupees a quarter ago. Expecting a strong demand, HCL Technologies has retained its guidance for the financial year ending March.

Source : Cogencis Information Services Ltd.

Telecom Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Telecom Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Telecom Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of Bharti Airtel Ltd and Idea Cellular Ltd are seen falling further next week after missing consensus estimates for bottomline in Apr-Jun. Consolidated net loss for Idea Cellular widened to 8.15 bln rupees from 3.28 bln rupees in the previous quarter. Bharti Airtel posted a consolidated net profit of 3.67 bln rupees in Apr-Jun, down 1.6% on quarter. The battle in the sector intensified after the entry of Reliance Jio Infocomm Ltd in September put pressure on the revenue of other operators and also triggered consolidation. The recent launch of the "free" 4G mobile phone by the telecom arm of the cash-rich Reliance Industries Ltd for a refundable deposit of 1,500 rupees is expected to put further pressure on operators to launch similar offerings to protect their subscriber base. With Reliance Jio's feature phone broadening its addressable market, sustained competitive intensity may likely lead to weaker revenue and profitability for Bharti Airtel. We expects sustained competitive intensity to accelerate consolidation in industry with emergence of fewer, but stronger players. Vodafone India Ltd and Idea Cellular have announced a merger, which has received the Competition Commission of India's nod but other regulatory approvals are pending. Bharti Airtel, too, has announced two separate acquisitions, of Tikona Digital Networks Ltd and the Indian arm of Norway's Telenor ASA. ICRA, in a recent report, said it continues to hold a negative outlook for the sector, which will keep facing headwinds due to competition and the industry revenue is expected to come down to 2.4 trln rupees for 2017-18 (Apr-Mar). Taking cognizance of the pressure, the government has set up an inter-ministerial panel to recommend ways to improve the financial health of the sector. The panel has met operators and banks, and is expected to come out with its report soon. Analysts are bullish on Reliance Communications Ltd and its shares are seen trading between 25.15 rupees and 28 rupees.

Source : Cogencis Information Services Ltd.

FMCG Stocks Outlook for the week - 31.07.02017 to 04.08.2017

FMCG Stocks Outlook for the week - 31.07.02017 to 04.08.2017


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FMCG Stocks Outlook for the week - 31.07.02017 to 04.08.2017
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Stocks of most fast-moving-consumer-goods companies are seen rising next week, in line with the broader markets and as results of bellwether companies such as Hindustan Unilever Ltd and ITC Ltd have been above market expectations. While HUL reported a 5% year-on-year rise in net revenue for Apr-Jun, cigarette-to-hotel conglomerate ITC reported a 9% growth in the FMCG segment, despite de-stocking pressure. ITC also hiked prices of most of its cigarette brands retrospectively to offset the hike in cess on filter cigarettes under goods and services tax. Stocks of ITC are expected to rise further next week and could touch 320-rupee levels. ITC has successfully built FMCG brands. Aashirvaad, Sunfeast, Classmate, and Bingo. Additionally, entry into new segments like dairy with
Aashirvaad Svasti ghee, premium chocolates Flabelle, juices B Naturals and Coffee Sunbean bodes well for the company's long-term revenue target. Most FMCG companies witnessed an average month-on-month jump of 5.4% in overall sales volume in the first fortnight of July, just after implementation of the new indirect tax regime. However, categories which declined were personal care products which showed volume sales decline of 7.9% and soft drinks which had lower volumes of 7.8%. This decline could be due to de-stocking of non-essential goods by dealers. Among bellwether companies, HUL is experiencing a smooth transition to the good and services tax
regime, and the company's priority now would be to communicate with trade and improve filling in trade pipelines. Stocks of HUL are expected to rise with increased launches in the natural space and higher rate for herbal products under the goods and services tax. A good monsoon this year will help increase rural demand for most FMCG companies and sales numbers could improve after October. Most FMCG companies are expected to gain due to the input tax credit benefits under the new tax regime. Input credit is the system by which organised companies, at the time of paying tax on output, can deduct the tax they have already paid on inputs.

Source : Cogencis Information Services Ltd.

Bank Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Bank Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Bank Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Bank stocks are likely to rise next week, but the mood will be cautious ahead of the Reserve Bank of India's monetary policy statement on Wednesday. Stock-specific triggers are also likely as some banks are due to announce their Apr-Jun earnings during the week. The repo rate announcement on Wednesday could lead volatility in Nifty Bank index as the week progresses. The price performance trend (the ratio of Nifty Bank level to Nifty 50 level) has moved towards 2.49 levels. We feel a leg of profit booking is due which could push price ratio towards 2.47 levels. However, RBI policy reaction will be the key for direction. Falling retail inflation numbers, which reached even below the 2% lower threshold limit in June, have created a case for a 25-basis-point repo rate cut when the Monetary Policy Committee meets on Aug 1- 2. However, surprises sprung by the panel in the past are keeping most analysts and brokerages cautious. Earnings due over the weekend and in the coming week, such as those of Dena Bank, Central Bank of India, Bank of Maharashtra, Punjab National Bank, UCO Bank and Andhra Bank, will lead to stock-specific action. Ujjivan Financial Services, the holding company of Ujjivan Small Finance Bank, will be in focus too following weaker earnings by most lenders with presence in microfinance, farm and rural lending space. This week, a strong performance by HDFC Bank in its Apr-Jun earnings was overshadowed by a 20-bps increase in
bad loans due to farm loan waivers given away in some states. There is a certain amount of irrationality in the way markets have handled bank earnings. HDFC Bank's gross bad loans go up 20 basis points and markets reacted badly but much higher bad loan ratios at other banks have been ignored or shrugged off. It shows the higher expectations from HDFC (Bank) but indicates a schizoid view in general. Our confidence in the long term is underpinned by gradual healing in the corporate segment, monetisation in subsidiaries, healthy capital position and sustained build-up in retail franchise (asset, liability and fees). Further, Current valuation (discount to peers) adds comfort. Investors will also be attracted to Axis Bank after a news-driven week for the lender. The bank announced its decision to buy wallet company Freecharge for 3.85 bln rupees in an all-cash deal, and also extended Shikha Sharma as managing director and chief executive officer by three years.
Her term was due to end in June 2018. Considering how Axis has lagged peers and not built a franchise that is unique like HDFC Bank has, the board should have looked at bringing in a fresh chief to jolt things up.

Source : Cogencis Information Services Ltd.

Oil Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Oil Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Oil Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of public sector oil refiners and retailers--Indian Oil Corp, Bharat Petroleum Corp, and Hindustan Petroleum Corp--are expected to rise next week. The three state-owned fuel retailers continue to be on solid ground, benefiting from the rise in domestic demand for fuels as well as robust refining and marketing margins, which lend a positive outlook for these stocks in the medium-to-long term. Of the three stocks, focus shall be on Indian Oil and Hindustan Petroleum in the later part of the week as they are scheduled to detail their earnings for the three months ended June on Thursday and Friday, respectively. Refiners are expected to report weak numbers on the
likelihood of inventory losses during Apr-Jun. These losses arise in case of a sharp downward movement in price of crude oil and petroleum products between the time crude is procured and the time products are sold. Analysts expect Indian Oil to report a net profit of 30.67 bln rupees in Apr-Jun, down 62.9% on year and 17.6% on quarter. Hindustan Petroleum's net profit is seen falling 50.7% on year and 43.2% on quarter to 10.34 bln rupees. In the absence of any other major sectoral triggers, stocks of oil companies could be impacted by prices of crude oil, news flow and sentiment in the broader market. Futures contracts of crude oil on the New York Mercantile Exchange are expected to hit the crucial $50-a-barrel level next week as decision of major producers to cut exports is likely to lure investors. Inventory decline in the US for another week is also seen supporting prices going ahead. After the meeting of members of the Organization of the Petroleum Exporting Countries, as well as non-OPEC countries on Monday, Saudi Arabia said it will cap its exports at 6.6 mln bpd in August. United Arab Emirates and Kuwait followed suit. State-run Kuwait Petroleum Corp has pledged to cut "contractual sales volumes of oil for 2017", and the UAE has also promised that it will reduce its crude exports by 10% starting in September. This would mean a continuation of stock reduction in the US next month. We regard the announcement of export cuts as clever marketing; due to higher own needs in the summer months, Saudi Arabia has less crude oil for exporting. At the meeting, Nigeria voluntarily agreed to adhere to production cuts as soon as its output hits 1.8 mln bpd, which is also a positive for prices. Currently, the African nation is exempt from the output cut deal. Stocks of upstream players such as ONGC and Oil India may react positively if crude oil prices rise next week. On technical charts, the two stocks are expected to
consolidate. Any major shift in the dollar-rupee exchange rates could also impact shares of oil companies. If the dollar weakens against the rupee, it could add to the woes of upstream companies. This is because upstream companies price oil and gas in dollar terms and a weak greenback leads to a decline in the actual price realisation in rupee terms. On the other hand, refining companies stand to gain from a weaker dollar, as it would reduce their outgo towards purchase of crude oil and gas.

Source : Cogencis Information Services Ltd.

Pharma Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Pharma Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Pharma Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Earnings of pharmaceutical companies will be the key trigger for their stocks next week and most investors are cautious on that front for now. While domestic institutional investors are buying stocks, they are being extremely selective right now. We are getting orders for Aurobindo (Pharma) and Cadila (Healthcare) but they are staying away from Dr Reddy's for now. Movement in the sector next week is likely to remain stock-specific, with investors seen avoiding certain stocks like Dr Reddy's Laboratories. While shares of Dr Reddy's may stabilise around current levels after an 11% slump this week, gains are unlikely to be more than 2-3%. Yesterday, stocks of the Hyderabad-based company slumped 6% after the company reported dismal earnings for the June quarter and gave a weak outlook for its US sales. The company's consolidated net profit more than halved on year to 666 mln rupees in the reporting quarter, primarily due to a fall in domestic sales and price erosion of some of its key products in the US market. While management has underlined a strategy to bring things back on track, we believe the results would only be visible in FY19 and hinge on critical US launches
with uncertain timelines. Continued disappointment and lack of triggers in the near term may test investor patience. Next week, Lupin and Wockhardt as scheduled to detail their earnings for the quarter ended June. On Wednesday, Lupin is expected to report a 46% on-year slump in its consolidated net profit to 4.75 bln rupees. The stock may consolidate around current levels. Lupin, though, may get a boost on Monday after the US Food and Drug Administration cleared the company's facility at Pithampur in Madhya Pradesh in a prior approval inspection.

Source : Cogencis Information Services Ltd.

Auto Stocks Outlook for the week – 31.07.2017 to 04.008.2017

Auto Stocks Outlook for the week – 31.07.2017 to 04.008.2017


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Auto Stocks Outlook for the week – 31.07.2017 to 04.008.2017
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Stocks of most automobile companies are seen rising next week on the back of strong positive outlook for heavyweight stocks such as Eicher Motors Ltd and Maruti Suzuki India Ltd. Maruti Suzuki reported just 4.4% on year growth in its net profit at 15.6 bln rupees on Thursday due to a sharp decline in margins. High input costs, marketing expenses, and compensation to dealers for tax loss on account of transition to the goods and services tax regime weighed on the company's operating margins. However, most analysts continue to have a positive outlook on the company.
Strong volume growth on the back of Ciaz sedan, Vitara Brezza, and Baleno, an increase in average selling price due to a rise in demand for premium models, and fresh capacity addition at the Gujarat facility are all seen as positives. The two companies are seen as major beneficiaries of demand revival over the next two years. M&M will report its earnings on Friday. The automaker is expected to report a bottomline of 8.8 bln rupees on a topline of 113.3 bln rupees. Tractor growth was partially offset by weakness in the utility vehicle space leading to revenue forecast remaining flat. Standalone EBITDA (earnings before interest, tax, depreciation, and amortisation) margin at 10.5% is expected to rise 200 basis points sequentially led by better product mix and lower expenses. Hero MotoCorp Ltd reported its earnings on Tuesday with net profit rising 3.5% on year to 9.14 bln rupees largely
led by a rise in sales. With nearly 50% of the company's sales coming from the rural markets, the two-wheeler maker is also expected to be a beneficiary of the likely revival in the rural economy. We expect the company to post strong volume growth in Jul-Sep, owing to festive season demand and lower channel inventory. Premium motorcycle maker Eicher Motors Ltd, with the best operating margin in the industry at 31%, due to new launches and sustained demand.

Source : Cogencis Information Services Ltd.

Cement Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Cement Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Cement Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of cement companies are seen trading mixed next week as the industry continues to grapple with weak demand. Cement prices across the country have declined by 1.1% on month because of above-normal monsoon and problems related to implementation of the goods and services tax. Jul-Sep is generally a weak quarter for cement companies as construction work almost comes to a standstill. Dealers in Delhi-National Capital Region said they expect demand to improve only post monsoon. Problems regarding availability of sand in Uttar Pradesh and Punjab have also contributed to the slowdown in cement demand. Heidelberg Cement India, which announced its Apr-Jun earnings yesterday, also attributed the 8.3% fall in its sales volumes to shortage of sand and aggregates in
Uttar Pradesh. Analysts, however, remain positive on the sector in the long term as they expect government spending on infrastructure and a pick-up in housing to boost demand. We continue to believe that demand will increase post-monsoon. Smart cities, road, metro projects will pick up, and
add to this the rise in rural income because of good monsoon. Ambuja Cements, in a release post announcement of its quarterly earnings on Monday, had also said it expects the economy to be spurred in the second half of the year because of good monsoon and government's focus on infrastructure and affordable housing. Next week, stocks of ACC are seen gaining, while those of UltraTech and Ambuja Cements are seen in a tight range.

Source : Cogencis Information Services Ltd.

Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017

Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017


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Capital Goods Stocks Outlook for the week – 31.07.2017 to 04.08.2017
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Stocks of capital goods companies are likely to trade with a positive bias next week after sector heavyweight Larsen& Toubro reported robust earnings for the June quarter. The engineering major posted a 9.7% on-year growth in consolidated net sales to 239.89 bln rupees, surpassing projections of an 8% rise. Consolidated net profit, too, increased 46.4% on year to 8.92 bln rupees, which was largely in line with estimates. L&T numbers should lift the spirits of the capital goods stocks. The company's commentary on domestic infrastructure pick up also augurs well for the sector. L&T Chief Financial Officer R. Shankar Raman had said on Friday that there were first signs of some sectors in the domestic economy picking up pace. Analysts on Siemens' stock as the company is expected to report a year-on-ear higher net profit for Apr-Jun on Monday. The company's bottom line will rise 22% on year to 1.58 bln rupees during the quarter. Net sales are seen growing 2% on year to 26.19 bln rupees. Market participants will also keep an eye on stocks of Cummins India as the company will detail its Apr-Jun earnings on Thursday.

Source : Cogencis Information Services Ltd.

Weekly Sector Report : 24.07.2017 to 28.07.2017

Weekly Sector Report : 24.07.2017 to 28.07.2017

Indian Market Outlook for the week – 24 to 28 07.2017

Metal Stocks Outlook for the week – 24 to 28.07.2017

Bank Stocks Outlook for the week – 24 to 28.07.2017

Oil Stocks Outlook for the week – 24 to 28.07.2017

Auto Stocks Outlook for the week – 24 to 28.07.2017

I.T Stocks Outlook for the week – 24 to 28.07

Pharma Stocks Outlook for the week – 24 to 28.07.2017

Telecom Stocks Outlook for the week – 24 to 28.07.2017

Indian Market Outlook for the week – 24 to 28 07.2017

Indian Market Outlook for the week – 24 to 28 07.2017


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Indian Market Outlook for the week – 24 to 28 07.2017
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Domestic benchmark indices are seen volatile next week due to uncertainty ahead of the expiry of
July derivatives series on Thursday and as five index heavyweights are scheduled to report their
Apr-Jun earnings. The Nifty 50 index is expected to find support at 9800 points next week, while on the higher side it may find gains capped at 9950 points. Today, the 51-stock Nifty 50 index ended up 41.95 points, or 0.4% at 9915.25 points. The direction of the broader market will hinge on the Apr-Jun earnings of index heavyweights like ICICI Bank, HDFC Bank, and Larsen & Toubro. Global equity markets are expected to remain subdued because the ongoing political uncertainty in the US is expected to weigh on sentiment as investors keep their expectations of the passage of tax reforms in the US in check. The US Federal Reserve's two-day monetary policy meting, which starts on Tuesday followed by a statement on Wednesday, will also be keenly watched by traders and investors to ascertain if the central bank will raise interest rates for the third time in 2017 following the recent strong economic data out of the US. We maintain view that with support at 9840 points followed by 9790 points, the potential for Nifty 50 to go above 10035 points remains intact. Reliance Industries is expected to extend its gains into next week. India expects the company's telecom arm to continue gaining market share from smaller telecom operators. Stock of BEML will be in focus following report that the government may have approved a 26% stake divestment in the company.

Source : Cogencis Information Services Ltd.

Metal Stocks Outlook for the week – 24 to 28.07.2017

Metal Stocks Outlook for the week – 24 to 28.07.2017


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Metal Stocks Outlook for the week – 24 to 28.07.2017
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Stocks of metal and mining companies are set to extend their uptrend next week tailing positive
momentum of the broader market. Both the Nifty 50 and Sensex ended up for the third week in a
row, and the Nifty Metal index ended with gains on a weekly basis for the fourth consecutive week.
The structure for stocks of most metal and mining companies remains positive. Hindalco Industries ended up for the fourth week in a row, and is seen rising further up to 230 rupees. The stock yesterday hit an over six-year high, and has risen over 14% in four weeks. Vedanta, which will be in focus next week as it details its Apr-Jun earnings on Tuesday, is also seen in a positive territory.

Source : Cogencis Information Services Ltd.