5850 levels would of course cede thru the week as correlation is reestablished and an agreement around the RBI call yesterday seems to have been on target to set the H2 rally in motion. Institutional investors have been selling the index futures hitherto a transparent look ahead hedge initiated for the select longs that have … Continue reading
The week will close out thus with FIIs exiting some equities occasioned by DIIs entering the market finally buying 3 days into this Friday and likely to end the day near INR 25Bln in buying ( ` 2500 Crores) for the week Mid term traders would do well to avoid exploratory tips like SS bidding … Continue reading
Rupee responded to the 57 mark hit on Friday and this most of the week will continue to manage all the reations to new level of the rpee before it probably heads towards a new “equilibrium” range for 2014 with RBI intervention missing till Friday evening being a minor risk to the prognostication of … Continue reading
Of course the news of the week, last week preceding today’s AGM was the burly new gas find in MJ1. Actually predominantly for Oil, the MJ1 also falls in a gas rich area but details apparently have not filtered from the ongoing AGM and will probably be easier available to ‘non-digitised’ social networks which remain … Continue reading
It gives you the feeling of “every thing is right with the world again”. It is not deja vu. It is the latest round of banking licences and yesterday’s guidelines with a lot of fine print was given the green signal by the government,. The reason it is why everything is alright with the world … Continue reading
Net interest income for the Indian Market leader in Private Banks rose to INR 43 B from INR 33 B 26% on year/year growth. As dividends from insurance have also started showing up regularly every two quarters consolidated PAT has been growing unbridled past our 30% watermark. PAT for Q4 ended up at INR … Continue reading
5500 is not holding. It may be FIIs affected by Infosys, it may be that those who rerated Infosys already have looked not so hot on India inc despite replacements like ITC and Bharti that signify winning consumer propositions on a near global scale while brokerages still chasing the tech dream led by Morgan Stanley … Continue reading
As expected, Infosys rerated the recovery rally with a 15% cut on open pushing thru a 1% increase in US and overall Dollar revenues and beat in Net profit based on other income offered as bait to speculators while the stock possibly returns to its #6 position in Nifty stocks based on Market Cap. … Continue reading
A short and quick stab on Monday will show that efforts continue to keep India Inc juiced as Q2 will likely return a broader cohort of companies that increase their bottomline based on continuing decrease in non food core inflation, and a small measurable uptick in production. Most of the market business still returns to … Continue reading
Of course, we are still correcting to a lower range and I would even think the market could now top out at 5850 which would be dangerous as that would probably break the market uptrend for good. While some of the unsure network analysts playing safe including Mitesh Thakkar on ET have opted for upticks … Continue reading
The Nifty lows hit in the week of 22nd July 2012 at around 5100 were a strange time with the upcoming dampening of India’s growth prospects in the fourth estate seen as a future buying opportunity by the Domestic Institutions. That buying then with all the fund flows that have supported the rally since in … Continue reading
While US tries to balance its Economy after a spate of QE liquidity is seen as injuring fiscal and monetary health, a rise in interest rates in the Economy with or without inflation could do wonders for the paradigm of growth as China and Japan return as investors in US treasuries and 10 year … Continue reading
A quick re-rating of the F&O market in the early trades yesterday meant that writers of the 6000 call had a hurried exit from trades and very few have tried to cap the maarket already at 6100 or any other digits as the markets actually show signs of a breakout. The low volumes of MCX … Continue reading
First the note on infracos that have unsettled the markets What markets had initially identified as a resilient strain of Corporate misgovernance in infracos from GMR and Reliance Infra had apparently never been a cured mutation despite consistent action and PR by the companies. Even today when the infra gap is being addressed, because of … Continue reading
The Q3 results of the bank showed a limited increase in profits , standalone bank improving Net Income by 4% on last year while Net Interest income at INR 111.55 bln withstood the onslaught of a move of INR 220 bln in assets to Pension provisions making it a creditable performnce with PCR above … Continue reading
Tata Steel which pushed out another round of poor results struggling in its European pick up is ready to open new capacities for production in 2014 in Odisha and Steel may indeed pick up though not a fast ramp up with China struggling ( Open tomorrow after New Year festivities) and Domestic Auto production for … Continue reading
Oh no, FII investing in Asia scrips again And this time India story is still alive and well. Firstly however, out apologies that there was no India Report yesterday and the day before and while Asia was hot, most commentators would be wont to assume that it was just the Yen running to … Continue reading
India Morning Report: Week opens on a buoyant note Despite the run on BOB due to the herewarned jump in NPAs at BOB and AllBank, the correction in others tracing the trend in BOB like SBI and Axis Bank are unlikely to fall through and banks like ICICI Bank and Yes Bank are likely to be strong … Continue reading
Though the market watchers are almost thirsty for a correction in the new series, habituated to aa trading range being established in a market that has more than INR 10 T in daily volumes on a good day and INR 4 tln in turnover including derivative volumes almost everyday. The Nifty Call interest has moved … Continue reading
Questions of consolidation have changed to ways of finnagling the new target for Nifty though Domestic institutions keep selling as on Tuesday and not many found reason to miss the India Morning Report yesterdayas we probably cowered by the repeating of underperforming by ICICI Bank to expectations today decided to skip the report 9 strictly … Continue reading
While not beating expectations, ICICI Bank’s improving fortunes, better retail traction and control on NPAs seem to have paid off for it to score the #2 bank in the country soon aheadof PNB and HDFC Bank (Pvt sector) with NII coming to INR 37 bln in the quarter and Other income INR 22 bln (standalone) … Continue reading
That beast dropping the burden into the nether world could well be market participants once the RBI Governor reaches the comfort zone of “Sorry, no cuts” later this week before Bank Policy Tuesday strikes markets 2 days prior to expiry. FIIs brought in almost $3 Bln to Indian equities in January and while money flows … Continue reading
Even as Novak Djokovic made it thru another Marathon qualifying round with Warinka this year in the Aussie Open, markets wait nary a move on results from the likes of Hindustan Unilever and Kotak Mahindra Bank even as leading lights from both the non-discretionary staples sector and banking have already been awarded in market terms … Continue reading
Of course Banknifty still has another 1000 points to go but the ramp down in PSU banks comes at a price for ICICI Bank and HDFC Bank specifically and PNB’s rise similarly would cost the markets more understanding for the non performing PSU Bank portfolio that will also rise, PNB having no real score on … Continue reading
NaMo made it to Gujrat’s top executive post again and likelyy will last there for a couple more terms after this new term is also over but those that can see around the media carnage opportunity for the new PM wannabe, I am still very clear that India will not accept this strong PM much … Continue reading
What would your friendly neighbourhood snitch or hag have you see in India’s future now? BPOs recruiting for Voice processes and documentation work or captives claiming they are not BPO for the same work and a hoard of imported foods you buy now but will not afford on a salary six months after. Unfortunately, our elites continue to … Continue reading
The Indian Services GDP is probably in threat as India loses its leadership of the incipient global Services sector growth, where it now enjoys a barely positive PMI at 52 after a big slide from 54 in October and instead the remaining almost vestigial 18% of Indian GDP that is manufacturing has taken pride of … Continue reading
The 90 point move on the Nifty yesterday, trying to make spectators out of those opting for not such a roller coaster move means that the classic correction/ consolidation prospects have also improved apart from the secondary improbability of conditions improving as no policy execution is likely. However markets would woot for Goldman Sachs’ … Continue reading
Markets for the proverbial retail trader are now right next to that other veritable institution in inaction and ‘eyes glued to electronic networks and news papers’. Yes, the market action , especially the lack of it, comes a close second to the inaction created by NDA in the upcoming Winter session with a few failed … Continue reading
The Diwali holiday shortened week proved the dictum that if you flog the same levels for the market long enough the markets need not kneel out of fidgety bear’s interest or tired bulls leaving. However, the markets nearly rerated themselves and shorts ar eopen in the market esp as revised Telecom company targets including … Continue reading
Markets are not closed today or tomorrow and muhurat trading times should therefore be announced tomorrow. National Spot Exchange had a special session on Dhanteras and the Commodity markets will have a similar one today. Fixed Income markets are flat and SBI had taken the sails out of the Rupee and Equities on Friday. Of … Continue reading
Here it is, the Fiscal Cliff. Markets are soon going to realise the celebration of Obama and the general panic in the US markets are both in equal measures a global celebration and a classic over reaction that ticks off momentum in the other direction. If India denizens do realise the limited impact of the … Continue reading
Net Profits have grown to a never before INR 19.60 B or $376.92M for the bank as Net Interest Income climbed to INR 33.71 B or $648.27 M with Treasury income of INR 1.72B helped other income to INR17.91 B all growing at more than 30% over the year ago quarter. Q1 2013 growth was … Continue reading
Sudershan Sukhani gets another look in on our bullletin if only for the 100% trader’s attempts at catching a correction again at 5700, with sell calls on Biocon and Reliance Capital. Anil Ambani is easy pickings though the rest of them may not move and then you will lose that one too. I am not … Continue reading
The first quarter of profits after 5 quarters growing bottomline by 15% on the index companies a good base price for Gold and a palatable range of Oil prices sounds promising and data enticing enough for one to reconsider the possibility of India growing at its normal clip instead of a sub 6% growth in … Continue reading
Markets seem to be eager to test 5650 again in what can be said to be an observable phenomenon of the the last 6-8 months whence the second half of the FnO series is geared to a cascading short thrift on expiry, banking the gains from shorting the market consistently as writing calls … Continue reading
Also, India Closing Report (October 08-12, 2012) The 5650 mark holding, markets see saw with two up days on Tuesdaya nd Thursday and rejuvenating interest in South East Asia and China with Chinese banks agains ppushed into increasing credit outlays at lower rates. Portfolio investments in Inida have shown interest at current index levels between … Continue reading
The CDS currency series on the USD is finally trading below 53 as expected starting back from 53.5 2 days ago an dis this time likely to go below 52 intra day in the Ne October series as gold and Silver importscome to a standstill before Diwali on Nov 13. International prices of Gold … Continue reading
Nothing much happened though we missed the morning report because of the Bangalore early morning traffic and associated hassles. if you were one of those who did not miss the Morning report then you ar elikely one of the associated reasons this blog and these reports are not dropping in on time or … Continue reading
Markets have decided to inch upwards is a clear prognosis and as of now even the new resurgent Dollar’s trade on the rupee to 53.52 seems barely able to survive new shorts and likely fresh shorts in Rupee are warranted now or after 1 more 1.5 more upticks before 54 levels depending on the … Continue reading
A nod from SP as expected and Financial markets actually jumped and are 100 points up on the Nifty today. It just shows when markets refuse to go down after a stinker they really can bounce North very quickly and for literally something that was ” no big deal” as i thas become for players … Continue reading
No do not do that. though smaller targets that Ashwini Gujral has suggested work, you never know which short won’t work and thats a good investment on the long you are switching. Of course I refer to the markets enticing show of what’s left in India anyway and exiting by the back door for … Continue reading
The One hour saturday session did not help nor the coming Liikanen report in the EU scare banks and investors on the Asia story as Monday began apparently without due cause or available discretion. Not to give in to rabid bursts of disgusted incompetence but, india remains patiently in wait to distinguish itself … Continue reading
The sector reported in unison on Friday and bad debts rose to an average of 3-4% at most banks that reported. However, first the two profitable ones that improved results, then prioritising the big ones BOB and PNB that have sizable profitability and asset advantages and then the rash of CBI, UBI and others. … Continue reading
ICICI BANK And IDFC start trending down when the exodus becomes clear in the coming weeks esp after the GDP data. TILL THEN ICICI BANK may actually reach never before highs with ITC ITC results up 20% were an eye opener after they showed up plateauing on consumer brand sales in Q4 data Consumer brands … Continue reading
Tata Global, Torrent Pharma and Dabur also report on Monday and are hot for a pre results upmove. (Torrent Power is the bad boy and may drag torr Pharma only later) If you know Merck and Container corp they could actually be post results movers.. again results are slated monday and Tuesday Merck has alrdy … Continue reading
Axis tried to drown itself on results to break the jinxed 5200 levels but the results brought in more buying as the Topline jumped the usual 20% + on year and Net profits have held sequentially as well as on June 11. Net Interest Income is up almost 30% at INR 21.8B Net … Continue reading
Axis Bank is likely to do exceptionally well in a strong AMJ quarter in which yields moved down and lending business grew handsomely for the right lenders. Axis has also increased operational efficiecies in 2010 and 2011 which have since tapered off. Net Interest Income will see strong yearly growth but may struggle to rise … Continue reading
Buy GAIL at 355, IDFC at or below 140, buy ICICIBANK and AXISBANK for at least one more jump SBI, ITC and HDFCBANK are buys, CIPLA and BAJAJ AUTO are the immediate defensives that will stay positive and up, HEROMOTO may keep the uptrend IT companies are not going to get anything fromt his depreciation, … Continue reading
Late Morning Trading strategies (DID you buy your ITC yet?) As the title suggests most of the activity is in the silent bond and currency markets with Indian bond rebound and unrelated yet unlikely dollar rebound sees hectic activity as accumulation continues n the suggested consolidation, the market having not seen any exits and the … Continue reading
