Technical Analysis of 1 Stock (with 15 days horizon).

Editor's views on the capital markets, stock reviews and word on Dalal Street.

After a day's skip, domestic benchmark indices ended on a positive note on Thursday, with Sensex gaining by 268.95 points or 0.71 per cent to settle at 38,140.47, near to the day's high of 38,225.03. Nifty rose by 82.85 points or 0.74 per cent to end at 11,215.45, close to its day's high of 11,239.80.

The consolidated net sales reported in Q1FY21 came in at Rs 411.49 crore, which declined by 18.42 per cent YoY from Rs 504.39 crore in Q1FY20. 

A swiss-Swedish multinational corporation, ABB, will deliver the largest automation projects in the Indian agrochemical industry for Deccan Fine Chemicals, a leading chemical manufacturer in India.

In the recently reported financial numbers of Q4FY20, it reported a profit of Rs 16.78 crore, which is the first time since the September quarter in 2015. The bank has shown signs of improvements in FY20.

Meanwhile, its annual sales volume declined by 11 per cent in FY20. The company has reported its fourth quarter and FY20 financial numbers. Its sales volume declined to 3,20,373 MT for FY20.

Dilip Buildcon Limited informed the bourses on Thursday that its joint venture with Hindustan Construction Company (DBL-HCC) has received a letter of acceptance (LOA) from Narmada Water Resources, Water Supply and Kalpasar Department (Water Resources) for an engineering, procurement and construction (EPC) project in the state of Gujarat.

Speciality Chemicals manufacturer, Rossari Biotech Limited, made a strong debut on the stock exchanges on Thursday, as the stock listed at Rs 670 on BSE, with a 57.5 per cent premium to its issue price of Rs 425 apiece.

The company stands out as one of the leading pharma companies in the world. Its core fundamental growth is driven by 294 approved & filed 390 abbreviated new drug applications (ANDAs).

The market opened flat on July 23, 2020. 

The market opened flat on July 23, 2020, overall volumes in futures & options currently stand at 3,23,91,894 crore contracts with a turnover of Rs. 19,98,781.81 crore.

The market opened flat on July 23, 2020, overall volumes in futures & options currently stand at 3,23,91,894 crore contracts with a turnover of Rs. 19,98,781.81 crore.

On the liquidity front, the company’s working capital cycle has also been affected by rising inventory days from 79 in FY17 to 85 in FY18 and 91 in FY19. The company’s liquidity has been harshly affected due to lockdown measures. It has applied to the lenders for a moratorium as per the RBI package as well as to the bankers for enhancement in working capital limits.

The bulls on Dalal Street seem exhausted in the last trading session and as result Indian markets halted its five-day bull run.  As bulls managed to recoup some of the losses in the last leg of trade, the correction was not too acute. But the signs of exhaustion were clearly visible. The Nifty faced its real resistance around 11,200-11,230 levels.

The level of 11,050 is likely to act as an immediate support level. Any move below this level would open gates for further correction of a minimum 70-100 point. On the way down, the level of 10,863, which is 200-DMA, would act as major support. Stocks in news: Wipro, Future Consumer, Glenmark.

We have seen a lot of studies around the world dictating to invest in passive funds over active funds. Is it worth doing so? Let’s find out.

The board of directors of CRISIL has approved the payment of the second interim dividend for the financial year ending December 31, 2020, of Rs 6 per equity share of the face value of Re 1 each.

The consolidated net sales reported in Q1FY21 came in at Rs 21,259.97 crore, which declined by -28.26 per cent YoY from Rs 29,635.95 crore in Q1FY20. 

The consolidated net sales reported in Q1FY21 came in at Rs 662.7 crore, which increased by 6.33 per cent YoY from Rs 623.24 crore in Q1FY20.

The cable sector is expected to take cues from results as the core fundamentals may have taken hit during the lockdown. Companies such as Finolex Cables and Universal Cables have reported 20 per cent and 10 per cent decline in sales, respectively, for the fourth quarter of the previous fiscal.

The stock has also managed to close above the upper Bollinger band and started the band walk, which is a very bullish sign. Interestingly, the daily RSI has given downward sloping trendline breakout, which is also bullish.

Domestic benchmark indices end their gaining streak as Sensex closed in red at 37,871.52, down by 58.81 58.81 points or 0.16 per cent from its previous close while Nifty dropped by 29.65 points or 0.27 per cent to settle at 11,132.60.

Momentum in the share price can be expected to continue as the buyback is proposed at Rs 1,000 per equity share, which is at 22 per cent premium from its Tuesday closing price.

India’s leading integrated travel services company, Thomas Cook (India) Limited and its Group Company, SOTC Travel Ltd, have partnered with ICMR accredited medical centres pan India, becoming the first travel service providers to offer seamless, end-to-end COVID-negative certification services.

The shares of Majesco Limited were locked in at an upper circuit band of five per cent at Rs 421.20 for the second consecutive day on Wednesday.

The consolidated net sales reported in Q1FY21 came in at Rs 9,278.77 crore, which declined by 6.7 per cent YoY from Rs 9,945.56 crore in Q1FY20. 

Interestingly though, the company is yet to report its Q4FY20 as well as FY20 financial numbers. The company notified about its board meeting cancellation via an exchange filing made on June 25, 2020.

The shares of Unichem Laboratories surged almost 3 per cent from its day’s low on Wednesday after the company announced that it has received abbreviated new drug application (ANDA) approval from United States Food and Drug Administration (USFDA) to market its Amiodarone tablets, USP, 200 mg.

The consolidated net sales reported in Q1FY21 came in at Rs 10,731 crore, which increased by 3.54 per cent YoY from Rs 10,364 crore in Q1FY20. 

Tata Motors Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Shares of Mahindra & Mahindra Financial Services were up by 14 per cent in the early trading session on Wednesday after the stock went ex-rights today.

In addition to this, the bank also reported advances growth of 13 per cent on YoY basis. The advances in the balance sheet of the bank show the total amount of credit it has till the accounting date.

The market opened in the red on July 22, 2020. 

The market opened in the red on July 22, 2020, overall volumes in futures & options currently stand at 2,07,57,764 crore contracts with a turnover of Rs. 13,17,023.27 crore.

The market opened in the red on July 22, 2020, overall volumes in futures & options currently stand at 2,07,57,764 crore contracts with a turnover of Rs. 13,17,023.27 crore.

The consolidated net sales reported in Q1FY21 came in at Rs 421.6 crore, which increased by 0.17 per cent YoY from Rs 420.9 crore in Q1FY20. 

From the low of March 2020, the equity markets are up by more than 50 per cent.  Read on to find how the mutual fund schemes have performed in the same duration.

CG Power & Industrial Solutions Limited informed the bourses that the divestment process of its subsidiary, CG Service Systems France SAS (SEFR) has been completed on July 20, 2020, and with this, SEFR ceased to be a step-down subsidiary of the company.

Looking at the revenue aspect, this project is likely to generate revenue to the tune of around Rs 5,000 crore over the next five to seven years. Going ahead, this would result in further strengthening the cash flow and the balance sheet of the company.

The company has a few other foreign subsidiaries, which have reported losses in FY19. Bharat Forge Global Holding GmbH, Bharat Forge Kilsta AB, Mécanique Générale Langroise, and Bharat Forge PMT Technologie LLC have contributed to consolidated losses of the company.

Since registering a low on July 16, the bulls on Dalal Street are driving the markets higher as they have rallied close to 5 per cent. The early trend in SGX Nifty suggests that markets are on the verge for another positive opening.

The level of 11,180 is likely to act as immediate resistance and any move above this would result in a breakout of the channel. If Nifty sustains above this level, it may test the levels of 11,350-11,400 in the near term. Stocks in news: Sunteck Realty, BEML, Wipro, Info Edge.

BEML Limited informed the bourses on Tuesday that it has secured an order worth Rs 557 crore.  The acquisition wing of Ministry of Defence (MoD) has signed a contract with BEML for the procurement of 1,512 mine plough (MP) for tank T-90 S/SK

On Tuesday, the stock has formed ‘opening bullish Marubozu candle’, which indicates an extreme bullishness. Further, since the last two trading sessions, the volume is above the 50-day average, which is a sign of accumulation. The 14-period RSI on the daily timeframe has given a positive crossover and it is in bullish territory.

Continuing on Tuesday, bulls were witnessed maintaining their dominance over domestic benchmark indices as Sensex gained by 511.34 points or 1.37 per cent to close at 37,930.33 while Nifty rose by 140.05 points or 1.27 per cent to close at 11,162.25.

The debt-to-GDP ratio is attributable to the falling growth if it increases over four per cent. As a result of which, we would witness a contraction in the gross domestic product (GDP). Read on to find out more.

Tata Communications informed the exchanges on Tuesday that it has secured Type B licence in Kingdom of Saudi Arabia (KSA)

Jubilant Life Sciences announced that the company has received approval from Drug Controller General of India (DCGI) for manufacturing and marketing investigational antiviral drug Remdesivir for 100 mg/vial (lyophilized injection).

Since May 2020, it has witnessed a trend of the new order as the ports are now operational with the ease of the lockdown, worldwide. The quantity, however, still remains lower. Its order book as of the end of FY20 is at Rs 210 crore.

Info Edge (India) Limited informed the bourses on Tuesday that it has entered into an agreement through its wholly-owned subsidiary to invest up to Rs 10.6 crore in Bizcrum Infotech Private Limited.

Elgi Equipments on Tuesday informed the bourses that it has signed a memorandum of understanding (MoU) with Government of Tamil Nadu on July 20, 2020

The market opened in the green on July 21, 2020. 

The market opened in the green on July 21, 2020, overall volumes in futures & options currently stand at 1,89,85,870 crore contracts with a turnover of Rs. 11,87,373.11 crore.

The market opened in the green on July 21, 2020, overall volumes in futures & options currently stand at 1,89,85,870 crore contracts with a turnover of Rs. 11,87,373.11 crore.

This plan is under the ultra mega renewable energy power parks (UMREPPs) scheme of the Renewable Energy Ministry, in a phased manner, preferably in packages of 50 MW each.

Omaxe Limited has entered into an agreement with Jindal Steel and Power Limited (JSPL) for a project undertaken by the company for developing a multi-level parking-cum-commercial project at Chandni Chowk (Old Delhi) under PPP model with North Delhi Municipal Corporation (NDMC).

Motilal Oswal Asset Management has announced the launch of its new open-ended multi-asset fund. Read on to find out if you should invest.

With this agreement, Biocon Biologics will become one of the first companies to offer insulins to type 2 diabetes patients after getting a clearance from United States Food and Drug Administration (USFDA).

Nifty closed above its psychological level of 11,000 in the last trading session for the first time since March 06, 2020. On valuation front, markets are trading at historical high PE of 28.86. However, due to strong global cues and buoyancy related to vaccine, the valuation factor has taken a back seat.

The level of 10,953 is likely to act as immediate support for the index, followed by the 200-DMA, which is placed at 10,867. On the upside, the daily bearish gap of March 6 (11,035-11,244) is likely to act as a strong resistance. Stocks in news: Jubilant Life Sciences, Interglobe Aviation, Majesco, NTPC, Omaxe.

Net Interest Income (NII) came in at Rs 1,137.47 crore in Q1FY21, which grew by 52.21 per cent YoY, compared to Rs 747.30 crore in Q1FY20.

The stock of Multi Commodity Exchange of India Ltd (MCX) has given a downward sloping trendline breakout, formed by connecting swing highs from February 2020.

On Monday, the stock has given a neckline breakout of a double bottom pattern. This breakout is confirmed above the 50-day average volume. Additionally, the stock formed a sizeable bullish candle on the breakout day, which adds strength to the breakout.

Sensex rallied by 398.85 points or 1.08 per cent on Monday to close at 37,418.99 while Nifty gained by 120.50 points or 1.11 per cent to settle at 11,022.20.

In a situation such as COVID-19, where diversification is a major key, multi-asset allocation serves this purpose to a great extent. In this article, we will find out which is the best multi-asset allocation fund.

Infosys Limited announced that the company has entered into a strategic long-term partnership with Lanxess, a leading speciality chemicals company, headquartered in Germany. Reacting to this news, the stock of Infosys Ltd jumped 4.31 per cent at 3.30 pm on Monday.

Indian multinational information and outsourcing company, Mindtree on Monday, announced that it has been commissioned by Husqvarna Group to provide DevOps-centric SAP services to help drive the company’s digital transformation initiatives.

At EBITDA level, the company stood at Rs 2.08 crore in Q1FY21 that decreased by 3.26 per cent YoY.

The export order is over 1,45,000 wheels from US Caravan Trailer, which will execute from its Chennai plant. 

India Ratings and Research (Ind-Ra) in its latest report stated that the government's fiscal deficit is estimated to touch 7.6 per cent in FY21, more than double the Budget Estimate (BE), as the nation spends extra to lessen the impact of the COVID-19 pandemic while facing a shortfall in incomes

The market opened in the green on July 20, 2020.

The market opened in the green on July 20, 2020, overall volumes in futures & options currently stand at 1,72,21,668 crore contracts with a turnover of Rs. 10,75,163.07 crore.

The market opened in the green on July 20, 2020, overall volumes in futures & options currently stand at 1,72,21,668 crore contracts with a turnover of Rs. 10,75,163.07 crore.

Byke Hospitality has also faced the brunt of the pandemic on its business operations. As it was not part of government denominated essential services, most of the hotels of the company were shut down entirely during the lockdown.

PVR Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

In a letter to the company, Drug controller Dr VG Somani said that a Member of Parliament (MP) has informed that the cost of treatment from FabiFlu (Favipiravir) will come to around Rs 12,500, which is not good for the poor as well as the middle-class families.

The company has received approval to market Butalbital, Acetaminophen and Caffeine medicines in the strengths of 50 mg/325 mg/40 mg. This combination of medicines is used in the treatment of patients suffering from symptoms of tension headaches.

Since the last 31 trading sessions, the stock is trading in contracting consolidation, which resulted in the formation of a symmetrical triangle pattern. As of now, the momentum in prices has been narrowed substantially and its prices have reached near an apex point of the triangle, which suggests that the stock is likely to give a breakout in the coming days.

Due to a narrow range, Bollinger Bands have contracted, which indicates an early signal of a bigger move. Also, on the lower timeframe, i.e. 60 minutes, the stock is on the verge of giving a breakout of downward sloping trendline.

Sensex and Nifty reclaimed their important psychological level of 37,000 and 10,900 with a strong close on Friday. Post a solid close, market participants would expect the move to continue. However, the early trends in SGX Nifty suggests that bulls are likely to face Monday morning blues. Further, cues from Asian peers too are negative.

The sign of exhaustion would be confirmed only if the index manages to close below 10,562 levels. On the upside, the level of 11,000-11,280 is likely to act as a resistance zone. Stocks in news: M&M Financial Services, Glenmark Pharmaceuticals, Cadila Healthcare, Vodafone Idea, NLC India, Selan Exploration.

The net profit margin in Q1FY21 came in at 1.43 per cent , which declined by 7.90 per cent  YoY. The net profit margin in Q1FY20 was at 9.33 per cent.

Provisions and contingencies stood at Rs 3,891.52 crore in Q1FY21, which increased by 48.9 per cent YoY, as against Rs 2,613.66 crore in Q1FY20.

New Fund Offers (NFOs) that are open for subscription.

Gross Direct Premium Income (GDPI) of the company stood at Rs 3,302 crore in Q1FY21 which declined by 5.3 per cent YoY compared to Rs 3,487 crore in Q1FY20.

The company posted a consolidated net profit of Rs 66.06 crore for Q1FY21 , which increased by 804.26 per cent, as compared to Q1FY20 when it reported a consolidated net loss of Rs 9.38 crore.

The stock of Muthoot Finance has witnessed almost 169 per cent upward move from the low of March 24, 2020. The stock has relatively outperformed the frontline indices in the current leg of the upward rally. Also, the stock relatively outshines Nifty 500 with a decent margin.

Interestingly, in the recent corrective phase, the RSI never breached its 60-mark, which indicates that the stock is in a super bullish range as per RSI range shift rules.

Following banking, energy and financial stocks, domestic benchmark indices ended the week on a positive note with Sensex rallying by 548.46 points or 1.50 per cent to settle at 37,020.14 and Nifty gaining by 161.75 points or 1.51 per cent to close at 10,901.70.

The joint venture of Hindustan Construction Company (HCC) and Dilip Buildcon has won a contract worth Rs 1,900 crore by National Highways Authority of India (NHAI).

Britannia Industries Ltd. records a consolidated net profit of Rs 542.68 crore in the June quarter for FY21.

India’s export and import contracted for the fourth straight month, resulting in goods trade surplus. Read on to find out more.

The company is manufacturing the sanitisation box in-house at the Faridabad facility. OEL also plans to launch more such products in the same segment in the near future.

The domestic rating agency ICRA in its latest report has revised its forecast for the contraction in India’s gross domestic product (GDP) growth to 9.5 per cent in the current fiscal (FY21) from the earlier assessment of 5 per cent

Majesco, a provider of cloud insurance platform software, announced a new product portal, which will provide customers fast and easy access to robust product information and insight to product roadmaps and future of insurance technologies.

Arvind Fashions Limited’s rights issue offer for Rs 399.79 crore is closing on Friday i.e. July 17, 2020, which opened on June 29, 2020.

The market opened in the green on July 17, 2020.

On Friday, Zydus Cadila announced that it has received approval from Mexican regulatory authority, COFEPRIS, to conduct clinical trials with its biological therapy, Pegylated Interferon alpha-2b, 'PegiHepTM'. The trials are scheduled to begin in July 2020. They will be open-label, randomized ad comparator-controlled to evaluate safety, efficacy and tolerability in patients with COVID-19.

The market opened in the green on July 17, 2020, overall volumes in futures & options currently stand at 6,69,31,082 crore contracts with a turnover of Rs. 36,50,218.67 crore.