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WEEKLY EQUITY NEWSLETTER

WEEKLY EQUITY NEWSLETTER


01TH NOV TO 08TH NOV 2019

MARKET UPDATES

Manufacturing activity in the country continued to weaken in October, with factory orders and production rising at the weakest rates in two years, a monthly survey said on Friday. The headline seasonally adjusted IHS Market India Manufacturing Purchasing Managers Index (PMI) fell to a two-year low of 50.6 in October from 51.4 in September.

Indian Oil Corporation (IOC) shares slipped as much as 4.42% to Rs 140.30 apiece on the BSE on Friday after the company reported 83% year-on-year (YoY) decline in profit before tax (PBT) at Rs 814.48 cr for the quarter ending September, owing to higher inventory losses and a decline in refinery margin. It had recorded Rs 4,805.74 cr PBT during the same period last year.

Shares of sugar companies were in focus, rallying up to 20% on the BSE in the early morning deals on Friday on report of fall in the sugar production during season 2019-2020 (SY2020). Among the individual stocks, Ugar Sugar Works soared 20% to Rs 14.71 in the intraday trade today. Shree Renuka Sugars, Bajaj Hindustan Sugar, Magadh Sugar & Energy, Bannari Aman Sugars, Uttam Sugar and Avadh Sugar & Energy jumped in the range of 8 to 12% on the BSE. In comparison, the S&P BSE Sensex was up 0.19% at 40,211 pnts at 09:49 am.

TVS Motor has reported a 25% drop in domestic two-wheeler sales during the month of October 2019, at 252,684 units as compared to 338,988 units a year ago. However, the company said October sales were 2% higher than in September, which effectively reduces stock-in-trade for BS VI transition. Total two-wheeler sales, including exports, were down by 20% to 308,161 units in October 2019 from 384,307 units a year ago. The companys exports grew by 20% from 57,926 units last October to 69,339 units in the same month this year. Two-wheeler exports were up 22 %, from 45,319 units in October 2018 to 55,477 units in October 2019.

Ashok Leyland has reported a 50 % drop in domestic M&HCV sales during the month of October 2019 to 4,565 units as against 9,062 units, a year ago. The biggest drop was in trucks, whose sales declined by 59 % to 3,335 units in October from 8,124 units in the same month a year ago. Bus sales in October, on the other hand, were up 31% to 1,230 units, from 938 units the previous year. Light commercial vehicles sales dropped by 15 per cent to 4,509 units from 5,279 units a year ago.

Shares of IndusInd Bank moved higher by 5.1% to Rs 1,378.55 on the BSE on Friday after the bank announced selection of a potential successor to Ramesh Sobti, the current Managing Director and Chief Executive Officer (MD & CEO). It, however, did not name the successor. Sobtis tenure will end in March 2020, when he turns 70. “Pursuant to the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the bank, at its meeting held on Thursday, October 30, 2019, has finalised a potential candidate for the position of MD & CEO,". the bank said in a regulatory filing. 

NIFTY TOP GAINERS/LOOSERS

GAINERS

LOOSERS

                           WORLD INDICES

TECHNICAL VIEW:-

NIFTY

Recommendation: - NIFTY IS UP 75 POINT CLOSE AT.11661 AROON INDICATOR SHOWS BUY SINGLE. SO, TRADER CAN MAKE THEIR POSITION BUY ABOVE 11910 TG-11960 TG-12020 TG 12080 -SL-11850

CNX BANK NIFTY

Recommendation: - NIFTY BANK UP POINT 246 CLOSE AT

39,298 AROON INDICATOR SHOWS BUY SINGLE. SO, TRADER CAN MAKE THEIR POSITION BUY ABOVE 30430 TG-30530 TG-30630 TG-30730 SL- 29980

CALL OF THE WEEK:-

RBL BANK

RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY 320  TG- 330 TG-340 TG-350  SL 315

BHARTI INFRATEL

RECOMMENDATION – AS YOU SEEN IN THE CHARTS THAT AROON SHOWS BUY SIGNAL SO TRADER CAN MAKE THEIR POSITION BUY 204 TG- 210  TG- 216 TG- 222 SL 195

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