GOLDEN RULES FOR TRADING

Indian Market Outlook for the week – 22 to 26.05.2017

Indian Market Outlook for the week – 22 to 26.05.2017



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Indian Market Outlook for the week – 15 to 19.05.2017


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The benchmark indices are likely to trade in a narrow range next week, with global markets and quarterly corporate results likely to lend Direction. Also, investors would study the impact of the goods and services tax and buy stocks in segments for which rates are largely favourable. We feel the stock markets will be steady ahead of the expiry of the May futures and options series on Thursday, and investors won't be building fresh aggressive positions. Next week, the Nifty 50 is seen between its crucial support levels of 9370 and 9500. The initial jump in the S&P BSE Sensex today to a lifetime high was due to a rise in the fast moving consumer goods sector on broadly lower rates in the new tax regime. These stocks closed off the day's highs, an indication that investors would not aggressively buy at higher rates. The S&P BSE Sensex ended up 30.13 points, or 0.1% higher at 30464.92 points today, after having hit a lifetime high of 30712.35 points. The Nifty 50 ended down 1.55 points at 9427.90 points, while the Nifty FMCG hit a lifetime high of 24922.50 points and ended up over 2% at 24352.90 points, following the announcement of the rates under the tax regime. The new tax rates under the goods and services tax for most of the fast moving consumer goods are near their existing indirect tax rates. However, for toothpaste, hair oil and soaps, the tax will come down from the current 23% to 18%. With sector leaders like Hindustan Unilever and ITC moving to lifetime high levels, the brokerage now expects Britannia Industries to move higher. Stocks of cigarette major ITC closed up 3% at 286.20 rupees, while Hindustan Unilever ended up 1.8% at 1,008 rupees, and Britannia Industries closed up 0.8% at 3,582.70 rupees. Next week, investors are likely to focus on shares in the automobile, telecom, information technology, metals, textiles, and hotels segments, following the announcement of the goods and services tax rates. Stocks of healthcare and education may attract some buying as they are exempt from the tax regime. Next week, Adani Ports and Special Economic Zone, Cipla, GAIL India, ITC, Lupin, Sun Pharmaceutical, Tata Motors, Bosch, Indian Oil Corp and Tech Mahindra are likely to be in focus as they are the Nifty 50 companies that will announce their Jan-Mar earnings.

Source : Cogencis Information Services Ltd.

Auto Stocks Outlook for the week – 22 to 26.05.2017

Auto Stocks Outlook for the week – 22 to 26.05.2017



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Auto Stocks Outlook for the week – 22 to 26.05.2017
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Stocks of most automobile companies are seen trading higher next week. Focus will be on stocks of Maruti Suzuki India Ltd and Tata Motors Ltd. The much waited announcement on Goods and Services Tax rates on automobiles is unlikely to have any impact on shares of automakers, as the final tax was along expected line. Most vehicles were kept at 28% rate under GST, with varying cess, taking the total indirect tax on vehicles to levels similar to the current structure. We don't see any material difference on companies as these prices (GST rate) will be passed on to the consumers and demand will not be hit severely by 2-3% price increase. On Tuesday, Maruti Suzuki had launched new Dzire compact sedan, which is likely to push its sales up. So far, Vitara Brezza compact sports utility vehicle and Baleno hatchback have been the primary driver of the company's Growth. The company's aggressive network expansion strategy has boosted its prospects. The carmaker has planned a capital expenditure of 45 bln rupees for 2017-18 (Apr-Mar), and a large chunk of which would go towards buying new properties to open sales and service outlets. Stocks of Tata Motors are seen extending gains from this week. The company had last week. India Meteorological Department's revised projection of a near normal monsoon rains is also seen helping the company, which has a substantial demand in rural regions. A good monsoon rain is likely to increase rural demand as it would increase disposable income. This is likely to benefit most automobile companies, especially Hero MotoCorp Ltd. A good season for agriculture is also likely to benefit tractor-makers and commercial vehicle manufacturers like Escorts Ltd and Tata Motors Ltd. The leader in the entry-level motorcycle segment, Hero MotoCorp Ltd, is likely to see a sharp rise in demand with the onset of good monsoon as it derives a large share of the demand from rural markets. The company also plans to launch six new models in 2017-18 (Apr-Mar). The automaker plans to invest 25 bln rupees in business development and capacity expansion over a period of two years. The two-wheeler manufacturer also plans to expand its scooter segment to Consolidate its position in the two-wheeler market across rural and urban markets. Bajaj Auto Ltd, which reported Jan-Mar earnings on Thursday, said its margins in the coming quarters are expected to contract due to a rise in prices of raw materials. However, the company remained optimistic about a steady recovery in exports this year.

Source : Cogencis Information Services Ltd.

Bank Stocks Outlook for the week – 22 to 26.05.2017

Bank Stocks Outlook for the week – 22 to 26.05.2017



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Bank Stocks Outlook for the week – 22 to 26.05.2017
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Bank stocks are expected to trade mixed in the coming week, with large-sized state-owned banks such as State Bank of India and Bank of Baroda likely to register gains. Most public sector bank stocks may see some consolidation at the current levels, as the earnings season for Jan-Mar comes to an end, while private sector lenders are expected to witness a correction. Private lenders ICICI Bank and HDFC Bank are expected to continue trading with an upward bias next week after reporting profits, despite an increase in their provisions for Jan-Mar. SBI is expected to continue its gaining streak next week after having reported a net profit of 28.1 bln rupees for Jan-Mar yesterday. During the day, stocks of SBI hit an over two-year high of 315.30 rupees on the National Stock Exchange after the lender reported strong growth in net interest income in Jan-Mar and its bad loans fell during the quarter. Earlier yesterday, YES Bank as its top pick in the mid-sized private banking space because of the bank's healthy capitalization, strong capital allocation, and market-leading growth rates. However, a few PSU banks that are grappling with high capital requirements amidst piling bad loans, are expected to trade weak. Banks such as Indian Overseas Bank, UCO Bank, IDBI Bank may trade with a downward bias subject to balance sheets, NPA numbers. Corporation Bank is set to declare its Jan-Mar results on Saturday while Bank of India will detail its numbers on Monday. Bank of India's earnings in Jan-Mar are likely to improve on a yearly basis, due to loan recoveries and healthy rise in non-interest income.

Source : Cogencis Information Services Ltd.

Oil Stocks Outlook for the week – 22 to 26.05.2017

Oil Stocks Outlook for the week – 22 to 26.05.2017


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Oil Stocks Outlook for the week – 22 to 26.05.2017
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Stocks of public sector oil refiners and retailers—Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, and Hindustan Petroleum Corp Ltd--are seen trading on a mixed note in a run-up to their Jan-Mar earnings over the next fortnight. In terms of fundamentals, however, these companies are on solid ground and have been benefiting from the rise in domestic demand for fuels and robust refining and marketing margins, which lends them a positive outlook for the medium to long term. In the absence of any major sectoral triggers, stocks of oil companies may be affected by their Jan-Mar earnings, crude oil prices, news flow, and sentiment in the broad market. Indian Oil will detail its Jan-Mar earnings on Thursday, while Hindustan Petroleum and Oil and Natural Gas Corp Ltd will do so on Friday. Bharat Petroleum and Oil India Ltd will detail their earnings on May 29. Crude oil futures globally are seen rising next week as optimism over the likely extension of the output cut deal between major producers beyond June continues to strengthen. Earlier in the day, prices of global crude oil breached the $50-a-barrel level to hit a three-week high of $50.07 a bbl. Investors now await the decision by the Organization of the Petroleum Exporting Countries and other producers regarding the extension of the cuts. The producers are scheduled to meet on Thursday in Vienna. Kuwait also joined major producers Saudi Arabia and Russia in supporting an extension of production cuts through the remainder of the year and into 2018. It is widely expected an extension will occur, and energy officials from Saudi Arabia and Russia this week signaled they back a nine-month extension. OPEC and other producers had agreed to cut output by 1.8 mln barrels per day for the six-month period ending June to boost prices. Consequently, stocks of upstream players such as ONGC and Oil India may witness some strength on account of the likely appreciation in oil prices. Any major shift in the dollar-rupee exchange rate can 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 dollars and a weak greenback leads to a decline in actual price realisation in rupee terms. On 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.

Telecom Stocks Outlook for the week – 22 to 26.05.2017

Telecom Stocks Outlook for the week – 22 to 26.05.2017



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 Telecom Stocks Outlook for the week – 22 to 26.05.2017
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Movement in shares of telecommunication companies is likely to remain stock specific next week, with those of Reliance Communications Ltd seen falling. Expect continue to be negative on the sector and expect aggression by Reliance Jio Infocomm Ltd to hit operators in the sector. The Reliance Industries Ltd subsidiary launched operations in September offering free data and voice services till March, and announced competitive tariff April onwards. This has forced incumbent operators such as Bharti Airtel Ltd and Idea Cellular Ltd to announce matching tariff plans to compete, leading to pressure on margins and revenue. Hit by Reliance Jio's free services, Bharti Airtel Ltd's consolidated net profit for the March quarter fell 25.9% on quarter to 3.7 bln rupees. The company's average revenue per user in India fell 8.4% on quarter to 158 rupees in Jan-Mar. Though Idea Cellular Ltd's consolidated net loss narrowed to 3.28 bln rupees in Jan-Mar from 3.84 bln rupees the previous quarter, its consolidated revenue, including other operating income, fell 6.2% on quarter to 81.26 bln rupees. In a recent report, ratings agency ICRA said the ongoing pricing pressure, stress on operating metrics in the sector, and rising debt levels were seen weighing on the financial performance of telecom operators. The Reserve Bank of India has voiced similar concerns and has asked banks to give immediate attention to the telecom sector, and review banks' exposure by Jun 30. With an aim to recommend resolution of stressed assets at the earliest, the government too has formed an inter-ministerial group to study the financial health of the telecom sector. Rising competition in the sector after the entry of Reliance Jio has also led to consolidation. Bharti Airtel has announced two separate acquisitions of Tikona Digital Networks Pvt Ltd and the Indian arm of Norway's Telenor ASA.

Source : Cogencis Information Services Ltd.

I.T Stocks Outlook for the week – 22 to 26.05.2017

I.T Stocks Outlook for the week – 22 to 26.05.2017



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I.T Stocks Outlook for the week – 22 to 26.05.2017
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Stocks of information technology companies are seen trading sideways next week as market participants are expected to remain cautious with their investments. Additionally, trade in the broader market is likely to remain in a narrow range in the upcoming week. The Nifty IT index is seen in the range of 10000-10950 points in the near term. Tech Mahindra is scheduled to report its earnings for the March quarter on May 26. It is the last among the Nifty IT index constituents to post its earnings. Stocks in the IT sector had declined over the past few weeks due to rising protectionist views across the globe. While the stocks have bottomed out, large gains are not expected and movement is likely to be stock-specific the following week. Stocks of Infosys and Tata Consultancy Services are seen rising 1% during the week, that these stocks will remain preferred on low valuations. The Indian currency is seen rising next week which would weigh on sentiment in the sector. The sector comprises large software exporters to the US. The rupee, which had appreciated nearly 5% during Jan-Mar, has been volatile over the last few weeks.

Source : Cogencis Information Services Ltd.

FMCG Stocks Outlook for the week – 22 – 26.05.2017

FMCG Stocks Outlook for the week – 22 – 26.05.2017


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FMCG Stocks Outlook for the week – 22 – 26.05.2017
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Stocks of most fast moving consumer goods companies are likely to fall in the coming week as investors may book profit since shares of most companies remain overbought. FMCG companies could also remain under pressure due to new indirect tax regime as these entities are unlikely to hike prices of their products in the near future in order to maintain current sales volumes. Under the anti-profiteering clause in the Goods and Services Tax, companies have to pass on tax benefit to consumers. This could drive customers to branded products from unbranded ones, spurring the growth in volume for FMCG companies. The GST Council has decided to exempt cereals and milk--currently in 0-5% tax slab--from any GST. The council has kept the tax slab for sugar, tea, edible oil and coffee constant at 5%. Hair oil, soap and toothpaste will be taxed at 18%, down from the current 22-26%. Most other products such as aerated water, chocolates, chewing gum and malted food drinks will be taxed at 28%, higher than the current rate of effective taxation. Emami Ltd, which mostly sells personal care products, could gain in the near term due to product launches and the company's higher spends on advertising and promotion

Source : Cogencis Information Services Ltd.

Capital Goods Stocks Outlook for the week – 22 to 26.05.2017

Capital Goods Stocks Outlook for the week – 22 to 26.05.2017



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Capital Goods Stocks Outlook for the week – 22 to 26.05.2017


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Stocks of capital goods companies are expected to rise next week, as the proposed Goods and Services Tax rates for the sector is seen to be positive. At the outset, the GST rate on capital goods appears to be a positive Surprise but more details regarding it are awaited before coming to any Conclusion. The GST council has placed all capital and industrial goods under the 18% tax slab. Stock-specific action is likely next week. Sector bellwether Larsen & Toubro and Bharat Heavy Electricals are likely to see upsides in the forthcoming week as the government, earlier in the week, approved plans to build 10 new nuclear reactors. These reactors will help India generate 7,000 MW of electricity from nuclear power plants by 2021-22 (Apr-Mar). Market participants would also keep an eye on Crompton Greaves, now rechristened as CG Power & Industrial Solutions, as it details its Jan-Mar earnings on Friday.

Source : Cogencis Information Services Ltd.

Metal Stocks Outlook for the week – 22 to 26.05.2017

Metal Stocks Outlook for the week – 22 to 26.05.2017



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Metal Stocks Outlook for the week – 22 to 26.05.2017


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Next week, stocks of metal and mining companies will take cues from political developments in the US and the implications of tax rates under the goods and services tax. Concern about US President Donald Trump being impeached has weighed on stocks of metal companies globally as well as domestically, most of which were subdued this week. Political uncertainty in the US is likely to make it difficult for Trump to pass his $1-trln infrastructure spending plan through the US Congress this year, which is likely to hit demand. Stocks of most metal companies had rallied after Trump took office due to hopes of higher infrastructure spending in the US. Another major development for shares of metal companies is the rates under the goods and services tax. Iron and steel, most copper products, and aluminium alloys will be taxed at 18% under the new indirect tax regime. However, the impact of these rates is not clear yet. This week, three major companies in the segment--Tata Steel, JSW Steel, and Vedanta--reported robust earnings. The week ahead is expected to be light in terms of earnings, as Hindalco Industries will detail its earnings only in the last week of May. Jindal Steel and Power will report its earnings on Tuesday.

Source : Cogencis Information Services Ltd.

Indian Market Outlook for the week – 15 to 19.05.2017

Indian Market Outlook for the week – 15 to 19.05.2017




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Indian Market Outlook for the week – 15 to 19.05.2017
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Domestic share indices are expected to move in a narrow range next week as traders are likely to book some profits. However, much of the movement will be dictated by cues from the global equity market. Don't have a very negative view on the market. a fall or consolidation next week can be used for buying. Investors will also react to the retail inflation data, measured by the Consumer Price Index and the new Index of Industrial Production data are released later yesterday that India April WPI Inflation at 3.85% Vs 5.29% (MoM). April WPI Primary Articles Inflation at 1.82% Vs 3.98% (MoM). India April Combined CPI Inflation at 2.99% Vs 3.81% (MoM). India March IIP Growth at 2.7% Vs 1.9% (MoM). Technical analysts believe the benchmark indices are building in some negativity due to lack of momentum at higher levels. Will advise traders to not initiate fresh long position on the index next week. Yesterday, the 51-stock index ended down 21.5 points, or 0.2% at 9400.9 points. Stock-specific action is likely to dominate the equity market next week with about seven major companies reporting their Jan-Mar earnings. Stocks of Hindustan Unilever, Vedanta, Tata Steel, Tata Power, Bank of Baroda, Punjab National Bank and JK Tyre & Industries will hog the limelight as they report their Jan-Mar earnings. Titan Company's shares may fall after the company's Jan-Mar net profit missed analysts estimate. The company reported net profit of 2 bln rupees after market hours yesterday. Stocks of information technology firms are expected to outperform the benchmark indices next week as traders expect some bargain buying in the stock. Yesterday, the Nifty IT index ended 1.1% up at 10367.3 points. Pharmaceutical sector's stocks are expected to underperform next week. There is too much overhang in the sector right now to invest in it. Stocks of Tata Metaliks are expected to fall after the company said it will shut down some operations from May 15.

Source : Cogencis Information Services Ltd.

Cement Stocks Outlook for the week – 15 to 19.05.2017

Cement Stocks Outlook for the week – 15 to 19.05.2017



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Cement Stocks Outlook for the week – 15 to 19.05.2017

Stocks of cement companies are seen mixed next week, with ACC Ltd and Ambuja Cements Ltd likely to see correction. ACC and Ambuja Cements look overbought after the recent rally and both the stocks may go downwards this week. Stocks of ACC and Ambuja Cements gained this week as the companies announced last Friday that they will form a special committee to explore the possibility of a merger. Next week, Dalmia Bharat Ltd, which reported a 94.2% on-year rise in its consolidated net profit for Jan-Mar on Wednesday, is likely to sustain the gains it made post the earnings. Demand for cement has recovered from the slump after demonetisation. Rating agency ICRA had earlier said that cement prices, which had fallen after the currency curbs, reached pre-demonetisation levels in April. Cement makers have hiked prices in different parts of the country since February as availability of currency notes improved. Analysts, however, attributed the recent price hikes to seasonal demand. While the prices are higher on quarter, they are still less than what they were last year. Prices go up during this time of the year as this is a peak time before the onset of monsoon.

Source : Cogencis Information Services Ltd.

Auto Stocks Outlook for the week – 15 to 19.05.2017

Auto Stocks Outlook for the week – 15 to 19.05.2017



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Auto Stocks Outlook for the week – 15 to 19.05.2017
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Stocks of most automobile companies are seen trading with a positive bias next week, with Maruti Suzuki India Ltd and Eicher Motors Ltd likely to be in focus. Strong positive trend is expected in most of the automobile stocks in the next week, primarily led by Maruti Suzuki and Eicher Motors, on account of India Meteorological Department's prediction of monsoon rains being higher than predicted earlier. On Wednesday, K.J. Ramesh, the weather bureau's director general, said that the southwest monsoon rains this year were likely to be higher than projected, and could even reach 100% of the long period average. This boosted sentiment and resulted in broad-based buying. Good monsoon rains are likely to drive rural demand due to a rise in disposable income. This is likely to benefit most automobile companies, especially Maruti Suzuki, Eicher Motors, and Hero MotoCorp, which see substantial demand from rural areas. For Maruti Suzuki, prospects remain strong on the back of continued demand for its Baleno hatchback, the Vitara Brezza compact sport utility vehicle, and the Ciaz sedan. The company is set to launch its latest product--the all new Dzire--on Tuesday. The company's aggressive network expansion strategy has boosted its prospects. The carmaker has planned capital expenditure of 45 bln rupees for 2017-18 (Apr-Mar), and a large chunk of which would go towards buying new properties to open sales and service outlets. Eicher Motors Ltd, the market leader in the premium motorcycles segment, is expected to commission its third manufacturing unit in Chennai by August. This will help the Gurugram-based company increase its output to around 825,000 units of Royal Enfield motorcycles in the current financial year. The company's joint venture with Volvo Group, VE Commercial Vehicles, plans to invest nearly 4.5 bln rupees across business verticals in the current financial year started April. The leader in the entry-level motorcycle segment, Hero MotoCorp Ltd, is expected to emerge as one of the biggest beneficiaries of a good monsoon. The company, which sees a large share of the demand from rural markets, plans to launch six new models in 2017-18. The New Delhi-based automaker also plans to invest 25 bln rupees in business development and capacity expansion over a period of two years. The two-wheeler manufacturer also plans to expand its scooter segment to consolidate its position in the two-wheeler market across rural and urban markets. Next week, Stocks of Hero MotoCorp are expected to rise on the back of optimistic commentary from company's management and expectations of a good monsoon. Eicher Motors is also seen aiding positive sentiment on the automobile index. The Nifty Auto index is likely to gain from the positive trend across automobile companies and may rise towards 12000 points.

Source : Cogencis Information Services Ltd.

Capital Goods Stocks Outlook for the week – 15 to 19.05.2017

Capital Goods Stocks Outlook for the week – 15 to 19.05.2017



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Capital Goods Stocks Outlook for the week – 15 to 19.05.2017
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Stocks of capital goods companies are expected to trade with a positive bias next week, as sentiment on the sector has improved, following the government's recent ordinance on non-performing assets. Stocks of most companies in the segment, barring Bharat Heavy Electricals, gained 0.9-17% this week, while the BSE Capital Goods Index rose 1.4%. The government's banking ordinance is seen as a big positive for the capital goods sector, as it will boost future investments in areas such as railways, roads, and transmission and distribution. On May 5, the government notified the Banking Regulation (Amendment) Ordinance, 2017, giving the Reserve Bank of India more teeth in the fight against stressed loans in the banking system, estimated at about 10 trln rupees. In the upcoming week, sector heavyweight Larsen & Toubro is likely to see an upside, riding on the back of a 45-bln-rupee order win from the Indian Army, announced yesterday. Market participant would keep an eye on BHEL in the near term, after Norway's sovereign wealth fund Government Pension Fund Global decided not to invest in the company on ethical grounds. The world's largest sovereign wealth fund said BHEL had been excluded based following an assessment of the risk of severe environmental damage due to some state-owned company's projects. Analysts are bullish on the Siemens stock next week, after the company reported a 5.2% on-year rise in total income from operations at 30.51 bln rupees for Jan-Mar, beating expectations of a flat top line. The company's net profit came in at 1.86 bln rupees, down marginally from 1.88 bln rupees for the year-ago period. Its (Siemens's) presence from trains to turbines ensures that the company's revenue growth has high correlation to the government and private sector spending.

Source : Cogencis Information Services Ltd.

IT Stocks Outlook for the week – 15 to 19.05.2017

IT Stocks Outlook for the week – 15 to 19.05.2017



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IT Stocks Outlook for the week – 15 to 19.05.2017
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The positive momentum in information technology companies is expected to continue next week owing to low valuations. The stocks in the IT sector were beaten down over the past few weeks following growth concerns and rising visa issues. Technical analysts expect the negativity in the stocks to bottom out and to rise in the upcoming sessions. However, persisting strength of the rupee against the dollar is seen weighing on the sector. After sustaining higher lows this week, the Nifty IT index is expected to stay at even higher lows next week as well. Meanwhile, US-based IT major Cognizant Technology Solutions Corp reportedly handed pink slips to nearly 10,000 employees this week, citing sub-par performance. Concerns on immigration to the US, automation, and a push to hire locals in the workforce have prompted IT companies to rationalise their Indian workforce. This has led laid off workers to seek legal and regulatory recourse. As the wage arbitrage enjoyed by Indian IT companies disappears, more Indian IT companies are likely to fire employees en masse, which may lift their stocks further. Next week, Stocks of HCL Technologies are seen gaining following robust earnings reported by the company on Thursday. For Jan-Mar, the company reported a consolidated net profit of 24.7 bln rupees, up from 20.6 bln rupees a quarter ago.

Source : Cogencis Information Services Ltd.

Metal Stocks Outlook for the week – 15 to 19.05.2017

Metal Stocks Outlook for the week – 15 to 19.05.2017



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Metal Stocks Outlook for the week – 15 to 19.05.2017
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Stocks of metal and mining companies are likely to primarily track cues from the Jan-Mar earnings announcements scheduled next week. Tata Steel, JSW Steel, Vedanta, and Jindal Stainless (Hisar) will report their Jan-Mar earnings in the coming week. While Jindal Steel & Power will report its earnings on May 23. Rest of the metal stocks are seen continuing with the positive trend. Stocks of Tata Steel, Vedanta and JSW Steel gained up to 5.8% this week, with the Nifty Metal index ending up almost 2% compared with the previous week close. The government on Thursday imposed a five-year anti-dumping duty on hot-rolled flat steel products, which saw the stocks rise yesterday. The trend is likely to continue in the coming week. Strong volumes and improved realisations in the domestic market and higher spreads in European operations are likely to help Tata Steel Ltd post robust earnings for the quarter ended March, even as higher coking coal costs may cap the upside. The company's net profit on a consolidated basis is seen rising over five times sequentially to 10.50 bln rupees. Net profit of JSW Steel is seen rising 2.2% sequentially to 7.46 bln rupees, while the consolidated operating profit is seen at 29.06 bln rupees. Higher raw material costs, particularly of coking coal, are expected to weigh on the earnings of JSW Steel for the March quarter, even as the company's sales and realizations are seen improving sequentially. Market Participants sees the metal-to-oil conglomerate Vedanta Ltd's consolidated net profit at 24.49 bln rupees in Jan-Mar, as against a loss in the same quarter in the previous year. Higher prices of most base metals, particularly zinc, and firm crude oil prices are expected to aid Vedanta Ltd's earnings in Jan-Mar, lifting its consolidated net profit over 31% sequentially. Jindal Stainless announced its Jan-Mar earnings yesterday. The company reported a net profit of 1.61 bln rupees for Jan-Mar, against a loss of 1.71 bln rupees a year ago. Revenue from operations increased 23.7% to 24.67 bln rupees. The stock is expected to rise at the start of the session next week.

Source : Cogencis Information Services Ltd.