SumanSpeaks: The Information Super Highway

Market Pulse Firmness persisted on the bourses in mid-morning trade on sustained buying demand in index pivotals. At 12.21 IST, the Sensex is seen at 35,450.27  up 368.45 points or 1.05%, while the NSE was trading at 10,870.70 up 82.15 points or 0.76%. Gains were triggered on reports indicating that the government is mulling a proposal to hike foreign direct investment (FDI) limit in the banking sector. Positive Asian stocks also underpinned sentiment. Domestic stocks saw gap-up opening following positive Asian cues. Stocks held firm in morning trade after the Sensex and the Nifty hit fresh record high levels in morning trade. The S&P BSE Mid-Cap index was off 0.17%. The S&P BSE Small-Cap index was up 0.36%. Both these indices undeperformed the Sensex. The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,382 shares rose and 1,244 shares fell. A total of 124 shares were unchanged. Overseas, Asian stocks extend...

Central Bank of India : Buy CMP : Rs.74.15 Target : Rs.83-87 Introduction : Established in 1911, Central Bank of India was the first Indian commercial bank which was wholly owned and managed by Indians. The establishment of the Bank was the ultimate realisation of the dream of Sir Sorabji Pochkhanawala, founder of the Bank. Sir Pherozesha Mehta was the first Chairman of a truly 'Swadeshi Bank'. In fact, such was the extent of pride felt by Sir Sorabji Pochkhanawala that he proclaimed Central Bank of India as the 'property of the nation and the country's asset'. He also added that 'Central Bank of India lives on people's faith and regards itself as the people's own bank'. During the past 106 years of history the Bank has weathered many storms and faced many challenges. The Bank could successfully transform every threat into business opportunity and excelled over its peers in the Banking industry. In line with the guidelines from Reserv...

Market Pulse Key benchmark indices edged higher in early trade despite negative trend in Asian stocks. The BSE  Sensex is now trading at 34,900.88 up 129.83 points or 0.37% while Nifty is seen at  10,731.40 up 30.95 points or 0.29%. IT stocks led gains on the bourses. Among the secondary indices, the S&P BSE Mid-Cap index fell 0.19%. The S&P BSE Small-Cap index dropped 0.39%. Both these indices underperformed the Sensex. The breadth, indicating the overall health of the market, was negative. On the BSE, 1,014 shares declined and 679 shares rose. A total of 54 shares were unchanged. Sun Pharmaceutical Industries rose 0.9% after the company announced that its wholly-owned subsidiaries have reached an agreement with Ironwood Pharmaceuticals, Inc. and Allergan plc (together known as the companies) to resolve the patent litigation regarding submission of an abbreviated new drug application (ANDA) for a generic version of Linzess (Linaclotide capsules)...

WINNING STROKES IT Sector was buoyant today Key benchmark indices settled with modest losses led by decline in index pivotals Reliance Industries, ITC and HDFC. However, gains in Infosys, TCS and ICICI Bank cushioned steep losses on the bourses. The barometer index, the S&P BSE Sensex, fell 72.46 points or 0.21% to settle at 34,771.05. The Nifty 50 index fell 41.10 points or 0.38% to settle at 10,700.45. Bank stocks edged lower. Metal and mining stocks dropped. Realty stocks declined. Indices opened with small gains and hovered in the positive terrain near the flat line till morning trade. Stocks slipped into the red in mid-morning trade but soon pared losses. The market once again reclaimed positive terrain in early afternoon trade, however, once again drifted lower in afternoon trade. Indices slipped into the red again after staging recovery in mid-afternoon trade. Indices swung between gains and losses in late trade. The Sensex lost 72.46 points or 0.21% to s...

WINNING STROKES Trading for the week started on a jubilant note as key benchmark indices posted decent gains, with indices hitting fresh record highs. The barometer index, the S&P BSE Sensex, rose 251.12 points or 0.73% to settle at 34,843.51. The Nifty 50 index advanced 60.30 points or 0.56% to settle at 10,741.55. Data showing India's industrial production surging at 25-month high pace of 8.4% in November boosted sentiment. Both the Sensex, and the Nifty, hit record highs on intraday as well as on closing basis. Key indices gained for the third straight day. Stocks of public sector banks nudged higher. Stocks of private sector banks were mixed. IT major Infosys nudged higher after reporting good Q3 December 2017 results. Housing finance major HDFC surged after the company's board approved raising funds upto Rs 13000 crore. Key indices had opened on a firm note and extended intraday gains till mid-morning trade. Both the key indices hit fresh record highs. In...

Pre-Session : Market may surge in the open 15-Jan-18: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 40.50 points at the opening bell. Firmness in Asian stocks to support gains on the bourses. India's industrial production surging at 25-month high pace of 8.4% in November will also support gains. Overseas, Asian stocks gained and built on the strong start to this year and headed for a fresh record high amid optimism in global growth. Among corporate news, on a consolidated basis, IT major Infosys' net profit rose 37.65% to Rs 5129 crore on 1.29% growth in net sales to Rs 17794 crore in Q3 December 2017 over Q2 September 2017. The result was announced after market hours on Friday, 12 January 2018. The result is as per Indian Accounting Standards (Ind-AS). On a consolidated basis, the company expects its revenues for the fiscal year ending 31 March 2018, under IFRS, to grow 5.5%-6.5% in constant currency. The ...

Reliance Infrastructure Ltd : Buy CMP : Rs.555.55 Triggers : #Reliance Infrastructure (RInfra) is likely to win an engineering, procurement and construction (EPC) project worth Rs5.67 bn, according to a media report. The company has emerged as the lowest bidder (L1) in a tender floated by NTPC for Flue Gas Desulphurisation (FGD) works of its 3 x 500 MW power plant in Jhajjar, Haryana, the report added. #Reliance Infrastructure (RInfra) has applied to Maharashtra Electricity Regulatory Commission (MERC) to transfer its Mumbai power business and the attached licences to Adani Transmission Ltd. The total deal value is Rs.13,251 crore. In addition, regulatory assets under approval estimated at Rs.5,000 crore and net working capital on closing estimated at Rs.550 crore will flow directly to RInfra. Thus, the total consideration value has been estimated at Rs.18,800 crore. Post-deal, RInfra would become debt-free, with a cash surplus of up to Rs.3,000 crore. #Global research fi...

The Indian IT Sector and 3i Infotech Ltd (Rs.9) Target : Rs.50-plus Auditor's Take on its Subsidiaries #According to a report in Business Today , CY17, was one of the most challenging years for the $154 billion Indian IT sector that employs about 4 million people.  IT exports soared 20-fold in the last 17 years to $108 billion but 2017 saw some difficult times for the industry and exports are projected to grow by a mere 7-8%. But, 3i Infotech Ltd could buck the trend because the Indian banking sector is slowly coming out of the blues and the BFSI sector is set do well as the economy picks up steam. Headquartered in Mumbai, India, 3i Infotech is a trusted global Information Technology company that has been committed to driving business value across all industry verticals. 3i Infotech provides a comprehensive set of IP based software solutions coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of indust...

WINNING STROKES Photo : Aaj Ki Job The stock market closed the volatile trading session with small gains on positive global cues. The barometer index, the S&P BSE Sensex advanced 88.90 points or 0.26% to settle at 34,592.39. The Nifty 50 index rose 30.05 points or 0.28% to settle at 10,681.25. Both the Sensex, and the Nifty, hit record high on intraday as well as on closing basis. The Sensex and Nifty had hit record highs in early trade on the back of positive trading sentiment in Asian stocks fueled by strong lead from Wall Street. Also, expectations of recovery in domestic earnings in Q3 FY18 aided sentiment. Indices hovered with modest gains till mid-morning trade. Suddenly selling pressure emerged in afternoon trade after Supreme Court judges said that the working of Supreme Court was not in order. Indices bounced back to positive terrain to close the session with small gains. Justice J Chelameswar, the second senior most judge in the Supreme Court, today, 12 Ja...