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Banking Newsletter – April 14 to 18, 2014
India Infoline News Service/09:37,Apr 19, 2014
The Reserve Bank of India (RBI) said FIMMDA and FEDAI would act as the Administrator of the Indian Rupee interest rate and Foreign exchange benchmarks
list RBI launches 25th round of order books, inventories survey
list Green Trends, Bhartiya Mahila Bank tie-up to promote women entrepreneurs
list HDFC Bank launches Cyber Crime response training programme for Delhi Police
list LLP shall be eligible to accept FDI: RBI
list RBL Bank partners with Delhi Daredevils

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Apr-2014
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Economic Events
list Leading Indicators
list Chicago Fed Nat Activity Index
Results
list Hind.Zinc | LIC Housing Fin. | Mindtree
IPO
list Issue Opening : Wonderla Holiday
listNew Listing : Women's Next
 

Daily Market Strategy - Big poll day: Positive start

Anil Mascarenhas/ Mumbai 08:15 , Apr 17, 2014

The outlook is a positive start. Wipro and HCL Technologies’ results will be in focus after TCS has reported better than expect Q4 profit.

You can bring your children under age 18 into the voting booth with you. Many families do so as a way to teach civic responsibility. - Christine Pelosi

A dozen states, over 195 million voters and 121 seats. India gears up for the single largest round of voting with 1,762 candidates in the fray. UP, Maharashtra and Bihar, which account for 168 seats holds the key. Karnataka, will see voting for all its 28 seats today and it will be interesting to watch what happens to Nandan Nilekani’s fortunes here.  Bihar will see voting for 7 seats.
 
The outlook is a positive start. Wipro and HCL Technologies’ results will be in focus after TCS has reported better than expect Q4 profit. US stocks gained after Federal Reserve Chair Janet Yellen told Wall Street to stop panicking about interest rates. Asian markets are in green. Nikkei 225 was flat at 0.39%, while Hang Seng was also flat at 0.11%.

Ajay Piramal is reportedly picking up a 20 % stake in Chennai-based finance group Shriram Capital, spending a little more than Rs20bn.

"Interest rates will likely stay at current levels for a considerable time after asset purchase program ends. The Fed has a continuing commitment to support the recovery even as policy makers now see the economy reaching full employment by late 2016, Yellen told the Economic Club of New York.

Premier Li Keqiang said China isn’t considering strong stimulus, and reiterated that economic growth a bit higher or lower than 7.5 percent is a reasonable range, according to a statement posted yesterday on the central government’s website.

The Dow Jones rose 162.29 points, or 1.00 percent, to end at 16,424.85, While Standard & Poor's 500 Index gained 19.33 points, or 1.05 percent, to finish unofficially at 1,862.31. The Nasdaq Composite Index jumped 52.06 points, or 1.29 percent, to close at 4,086.23.

TCS reported consolidated net profit of Rs. 53.58 bn for the quarter ended March 31, 2014 as compared to Rs. 36.16 billion for the quarter ended March 31, 2013. Total Income has increased from Rs. 168.73 bn for the quarter ended March 31, 2013 to Rs. 222.72 billion for the quarter ended March 31, 2014.

Mindtree Ltd has posted results for the fourth quarter ended 31st March 2014.The net profit for the quarter stood at Rs982mn, while Revenue stood at Rs8237mn.

In the latest economic data, China reported that its economy grew at its slowest pace in 18 months at the start of 2014

Reliance Communications announced an increase in tariffs by up to 20 per cent for all its pre-paid customers. Tariffs will increase from 1.5 paise to 1.6 paise per second, while tariffs on discounted and promotional plans will increase by up to 20 per cent. 

Tata Power plans to increase generation capacity to 646.7 MW from green energy sources by executing projects which are in advance stages. Tata Power has a gross installed capacity of 912 MW from clean energy sources of which 447 MW comes from hydropower, and 465 MW comes from renewable sources of energy, namely, wind and solar power.

Cushman & Wakefield in its latest quarterly office market report (Jan – Mar 2014), estimates that total the net office space absorption across 8 cities is recorded at 5.9 million square feet (msf) which is 58% higher than same time last year. Among the 8 cities, Ahmedabad and NCR recorded a 3 times increase in net absorption over the same period last year. However, there was a decline in net absorption of approximately 22% over last quarter (Q4, 2014) in all cities. 

CARE Research believes that revenue for telecom sector would grow at higher single digit over next couple of years, on the back of data led growth and stabilization of ARPU and increase in per minute realisation. Though there are some concerns of cannibalisation of non-data VAS by the OTT messenger applications, threat to voice revenue from OTT players is over-blown. 

The World Gold Council has released an in-depth report on the Chinese gold market, outlining the supply and demand fundamentals in the world’s biggest gold market and its expectations for the next three years.

China’s gold demand has increased four times in a decade, taking it into the top consumer spot ahead of India, and the World Gold Council forecasts continued growth until 2017.

Results watch: Wipro, HCL Tech, Glaxosmithkl Phar,CRISIL, Liberty Shoes

Trends in FII flows: The FIIs were net sellers of Rs446.9mn in the cash segment on Wednesday, while the domestic institutional investors (DIIs) were net sellers of Rs3.47bn, as per the provisional figures released by the NSE.

The foreign funds were net sellers of Rs6.34bn in the cash segment on Tuesday, according to SEBI data.

Global Data: Bank of Japan Governor Kuroda Speech JPY, National Australia Bank's Business Confidence (QoQ) (Q1) AUD, New Motor Vehicle Sales (MoM) (Mar) AUD, New Motor Vehicle Sales (YoY) (Mar) AUD, FDI - Foreign Direct Investment (YTD)(YoY) (Feb) CNY, Consumer Confidence Index (Mar) JPY, Producer Price Index (YoY) (Mar) EUR, Producer Price Index (MoM) (Mar) EUR, Current Account n.s.a (Feb) EUR, Current Account s.a (Feb) EUR, Current Account (YoY) (Feb) EUR, 10-y Bond Auction GBP, Consumer Price Index (YoY) (Mar) CAD, Bank of Canada Consumer Price Index Core (MoM) (Mar) CAD, Bank of Canada Consumer Price Index Core (YoY) (Mar) CAD, Consumer Price Index - Core (MoM) (Mar) CAD, Consumer Price Index (MoM) (Mar) CAD, Initial Jobless Claims (Apr 11) USD, Continuing Jobless Claims (Apr 4) USD, Philadelphia Fed Manufacturing Survey (Mar) USD, EIA Natural Gas Storage change (Apr 11) USD, American Petroleum Institute Monthly Report USD and Tertiary Industry Index (MoM) (Feb) JPY. 

In other news in the media:

Vodafone and Idea Cellular may not be able to offer wireless broadband services using fourth generation (4G) technologies in some circles with Reliance Jio Infocomm rejecting their proposals to swap spectrum. (BL)

Tata Power said it is in the process of increasing its capacity by 646.7 MW from green energy sources.

Orient Electricals is consolidating its fans, lighting and home appliances businesses under one brand. (BL)

Uninor may be asked to pay Rs3.5bn penalty for allegedly violating licence conditions. (BL)

Dr Reddy’s Laboratories launched Eszopiclone Tablets (C-IV), useful in treatment of insomnia, in the US market. It comes in dosages of one, two and three mg respectively. (BL)

With the deadline for the third and fourth phases of cable television digitisation set for the end of this year, SITI Cable said it would look only at profitable growth. (BL)

Kohlberg Kravis Roberts (KKR) and Blackstone — have put in bids for a total of 8 % stake in Idea Cellular. (BS)

Reliance Communications announced a rise of up to 20 % in call rates for pre-paid customers, who account for a major chunk of the company’s 117 mn subscribers. (BS)

Tata communications said it has spread wings in Germany, Australia, Austria and Malaysia through partnerships to scale up data centre footprints in newer geographies. (BS)

Infosys which is coping with internal transition while attempting to win back lost growth leadership, will be consolidating its data analytics operation under one roof, similar to a move by rival Wipro a few weeks ago. (ET)

India’s exports in the on-going fiscal will cross US$325 bn – the targeted figure that was missed in 2013-14.(BL)

The Reserve Bank of India said an independent body, either separately or jointly, may be formed for administration of rupee interest rate and foreign exchange benchmarks by self-regulatory market bodies, FIMMDA and FEDAI.(BL)

The Insurance Regulatory Development Authority (Irda) has come out with a new product planner rule by which an insurance company can file only five products for approval a year.(BS)


TEN MOST ACTIVE FUTURES

Symbol

No.of Cont Traded

Last price

Open Interest

% chg in Op.Int

SBIN

33,504

1,967.80

5006625

-1.50

ADANIENT

30,517

432.20

7832000

-1.41

TCS

27,032

2,200.50

4771125

-1.28

INFY

26,316

3,164.60

3462375

11.78

DLF

19,418

158.50

40924000

0.49

RELCAPITAL

19,040

368.25

10788000

-4.37

MCDOWELL-N

18,002

2,874.35

6580750

-9.05

RELINFRA

17,620

506.45

5529000

3.77

RCOM

17,497

130.00

35676000

-2.75

ICICIBANK

17,028

1,224.15

7751500

-2.66

TEN MOST ACTIVE OPTIONS


Option Type

Strike price

No.of Cont Traded

Open Interest

% Chg in Op.In

INFY

CE

3,300

10,443

520000

32.95

INFY

CE

3,200

8,407

302625

195.60

SBIN

CE

2,000

8,329

494875

18.85

TCS

CE

2,300

8,268

429625

51.01

TCS

PE

2,200

8,054

254250

96.52

TCS

PE

2,100

7,365

442125

99.83

INFY

PE

3,100

6,708

200500

8.60

TCS

CE

2,250

6,436

282125

81.29

INFY

CE

3,400

6,394

656750

-12.83

INFY

CE

3,250

6,090

204875

200.73

SUPPORT & RESISTANCE LEVEL

Company Name

S3

S2

S1

Close

R1

R2

R3

ACC

1,306

1,313

1,320

1,335

1,350

1,358

1,365

AMBUJACEM

201

203

205

208

211

213

215

ASIANPAINT

530

531

532

534

536

537

538

AXISBANK

S3

1,412

1,419

1,431

1,444

1,450

1,456

BAJAJ-AUTO

1,969

1,974

1,980

1,992

2,004

2,010

2,015

BANKBARODA

745

749

753

762

770

774

778

BHARTIARTL

318

320

321

324

327

328

330

BHEL

170

171

173

175

178

179

181

BPCL

430

431

433

437

441

443

444

CAIRN

355

357

359

362

366

368

369

CIPLA

391

392

394

398

401

403

404

COALINDIA

285

287

288

291

294

296

297

DLF

150

152

154

158

162

164

166

DRREDDY

2,492

2,503

2,515

2,537

2,559

2,571

2,582

GAIL

363

365

366

369

372

373

375

GRASIM

2,682

2,695

2,710

2,737

2,765

2,779

2,793

HCLTECH

1,386

1,392

1,398

1,410

1,422

1,428

1,434

HDFC

854

857

861

867

874

877

880

HDFCBANK

719

721

723

726

730

732

733

HEROMOTOCO

2,112

2,126

2,140

2,168

2,196

2,210

2,224

HINDALCO

132

133

134

136

138

139

140

HINDUNILVR

598

600

602

606

611

613

615

ICICIBANK

1,203

1,207

1,211

1,219

1,227

1,232

1,236

IDFC

113

114

115

116

118

119

119

INDUSINDBK

480

482

484

488

491

493

495

INFY

3,100

3,115

3,131

3,162

3,193

3,209

3,224

ITC

342

343

344

346

349

350

351

JINDALSTEL

265

266

268

271

274

276

277

JPASSOCIAT

51

52

53

54

56

57

57

KOTAKBANK

772

776

779

785

791

794

798

LT

1,234

1,241

1,247

1,260

1,273

1,279

1,286

LUPIN

943

946

949

954

960

963

965

M&M

957

962

966

976

985

990

994

MARUTI

1,910

1,916

1,923

1,935

1,948

1,954

1,961

NMDC

147

147

148

149

150

151

152

NTPC

120

120

121

123

124

125

126

ONGC

312

313

314

316

318

319

320

PNB

750

754

758

766

774

778

782

POWERGRID

106

106

107

108

108

109

109

RANBAXY

458

460

462

466

470

472

474

RELIANCE

928

931

935

942

949

952

956

SBIN

1,932

1,939

1,946

1,961

1,976

1,983

1,990

SSLT

186

187

188

190

192

193

194

SUNPHARMA

608

610

612

616

619

621

623

TATAMOTORS

406

408

410

413

416

418

419

TATAPOWER

78

79

80

82

83

84

85

TATASTEEL

405

407

409

413

417

419

421

TCS

2,135

2,148

2,162

2,188

2,214

2,228

2,241

ULTRACEMCO

2,168

2,176

2,184

2,200

2,216

2,225

2,232

WIPRO

555

559

564

573

581

586

590



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