Weekly Markets Sentiment_31.12.2017

Markets closed mildly in the positive zone on the last trading day of the year. Sentiment is buoyant. Nifty and Sensex both closed near all time highs. Elections and all major news flow were out the way and bulls had the upper hand through out the FII holiday season. It will be interesting to see at the dawn of the new year how markets perform going into the crucial January month.

Technically speaking, Nifty is near critical levels. 10500 needs to be broken decisively. Nifty is hovering near the zone but in unable to penetrate it. Twice has the index reversed from that area. Momentum seems to be indicating that it will break out and make a new high. Fatigue is seen although near the congestion zone. 10k becomes a rock solid intermediate support in the future. A decisive close and break out of 10550 will make a new bottom for the market. Base will shift a whopping 500 points upwards. Short term the bulls have some steam left. 10470 seems to be a good support.

Fundamentally, we are still in extremely overbought zone. Multiples are stretched and valuations in some stocks looks frothy. Such circumstances call for extreme caution in asset allocation. Forced buying of stocks is a strict no. Sitting on cash seems a smart choice. At historical high valuations one needs to wait for results and then take a deep dive.  With results season underway it will be interesting to see where the markets head.

Sector watch – Metals is the strongest bet out there. Nifty metals after a steep correction is bound to hit new highs. Keep a watch on its constituents. Bank is a laggard. Nifty bank is still way below it’s all time high. This divergence is something market players are keeping a tab on. Nifty IT seems to have a clean break. Keep an eye on this space as some sparks are bound to fly.

Morning Business News Round Up_Dec 27, 2017

Bar on wilful defaulters not a moral issue: IBBI chief

FinMin to issue recapitalisation bonds to PSBs in Jan

Tatas need simpler mgmt structure: Chandrasekaran

Non-compliance to be ‘very costly’ for cos: Govt

Tata Steel said to seek $5.1 bn to help refinance debt

Essar Oilfields begins drilling oil off Gujarat coast

GST collections for November dip further to Rs 80,808 cr

India to become world’s fifth largest economy in 2018, says CEBR

NSE revises penalty structure for unauthorised trades

Sebi may ease FPI norms, plans new governance model for mutual funds

Sebi disposes of case against OPG Sec in Prakash matter

RCom announces debt revival plan, ropes in new investor

Rhizen gets orphan drug designation for cancer drug

Non-ferrous metal prices to remain firm next quarter: ICRA

Mahindra picks over 16% equity in Bayside Sports

SBI Manufacturing index inches up to 53.1 in December

RCom asset sale: Telecom sector consolidation enters its last phase

Sebi slaps fine on FTIL for changing name to 63 Moons Technologies

Cummins in talks to acquire Kirloskar Oil Engines in $500 million deal

ONGC Videsh to buy, not drill, its way to output goal

IDBI Bank disengages Moody?s from rating bonds

Commerce ministry panel suggests change in SEZ rules

Indian economy to better than UK and France in 2018, says CEBR report

RCom announces debt revival plan, ropes in new investor

Employee unions of public sector banks defer tomorrow?s strike

PMEAC keen on infra financing outside budgetary support

IT hiring on the path of steady recovery

DeMo, GST impact: Number of new EPFO subscribers drops sharply

Sebi plans to revisit directive on loan default disclosure

BSE firms touch Rs 50L cr as big domestic investors rival FPIs

Morning Business News Round Up_Dec 26, 2017

Divestment: Govt may target some profitable PSUs

IOC, BPCL top suitors, but GAIL seeks ONGC merger

PFRDA looks at ways to allow minors open NPS account

RBI may extend pause on rate cut as oil prices firm

Government starts safeguard duty probe on solar cells

Patanjali inks Rs 671 cr pact for Chhattisgarh food unit

Aditya Birla, Piramal-Bain, Shree make aggressive bids for Binani Cement

2G verdict: STel to move Supreme Court, seek compensation

Firm domestic coking coal price upsets steel sector

Nine partner countries on radar for 2nd ‘Make in Odisha’ conclave

Individual insolvency regime to be operational in phased manner

Sebi may ask companies to inform bourses as soon as loan default occurs

Dilip Buildcon gets board approval to raise Rs. 600 cr

Cotton prices seen holding firm in 2018 on slow arrivals

SEBI plans to revisit directive on loan default disclosure

FPIs net outflow from equities at Rs. 7,300 cr in Dec so far

Offshore India funds, ETFs register $565 mn inflows in Nov

Sebi board to finalize norms for advisers, rating agencies

Reliance Industries aims to be among world?s top 20 firms

Govt starts safeguard duty probe on solar cells

Indian airlines to induct over 900 planes by 2025

Code for pharma marketing practices may be enforced soon

Only 1.7% citizens paid income tax in AY 2015-16, says official data

Gems and jewellery exports contract 4.8 pc in April-November

SAIL may return to profit next year, says Steel Secretary Aruna Sharma

Finance Ministry asks PSBs to rationalise overseas, domestic branches

1,110 more FPIs register with Sebi, indicates rising interest in capital market

HDFC M-cap of Rs 8.52 L cr is 2nd only to Tatas

DoT unlikely to tinker with licence fee, spectrum charge

E-comm market may cross $50b in 2018

Trai inputs to DoT on NTP by January-end, says chairman

Morning Business News Round Up_Dec 22, 2017

All 2G accused, including Kanimozhi & Raja, acquitted

Sebi revives proposal on loan default disclosure

India needs to strengthen RBI’s independence: IMF

UIDAI’s conditional nod to Airtel for eKYC till Jan 10

JPMorgan ‘breached anti-money laundering regulations’

US jobless claims increase more than expected

AI can infuse $957 bn into Indian economy

2G verdict: Telcos, investors may move arbitration courts to seek damages

SGX move could trigger diplomatic row between India, Singapore

Canara Bank to sell 4% stake in Canfin Homes

BOJ keeps monetary policy steady; aims to achieve 2% inflation target

Sun Pharma recalls two batches of diabetic drug from US market

HDFC Capital creates $1 bn war chest for low-cost housing

CBI to appeal against 2G case verdict acquitting all accused

FRDI Bill: Govt committed to protecting interests of depositors in public sector banks

Govt may raise import duty on wheat

Recap, IBC will help clean up bank balance-sheets: RBI

Electric vehicles will be made based on customer survey: Maruti

Govt proposes Rs. 23,450-cr scheme for rooftop solar

Carlyle Group acquires stake in Visionary RCM Infotech

India assures contracts for local solar panel makers in govt projects

Black money: India, Switzerland ink deal for data sharing from 1 January

Lodha Developers looking to raise up to $1 billion via IPO

Lenders put Jaypee Group firm PPGCL up for sale

Azim Premji Trust sold 2.73% stake in Wipro in share buyback offer

Trai directs Aircel to submit report on subscriber port-out in 6 circles

India’s financial sector facing considerable challenges:IMF

Narendra Modi Cabinet clears auction of 680 FM channels in 236 cities; set to raise Rs 1,100 crore

Reliance Jio and COAI differ over mobile connectivity project in Naxalism affected regions

Air India?s operational profit rises to Rs 215 crore in 2016-17

Removal of stockholding limits to ease sugar prices: Ind-Ra

2G verdict: ED to appeal acquittal of 19 accused

Airtel board okays terms of Tata Tele deal

RBI warns of further NPA woes

RInfra sells Mumbai power business to Adanis for Rs 18.8k cr

SBI report suggests bonds for bail-in of banks

Morning Business News Round Up_Dec 19, 2017

India a leading global power: New US security policy

Gross NPAs of banks cross Rs 8.50 lakh cr in 1st half

Oil cos ask Airtel to revert LPG subsidy payments

Taxmen go on bitcoin hunt, slap notices on high-worth traders

Govt plans to dispose off ‘enemy’ properties soon

Iraq replaces Saudi Arabia as India’s lead oil supplier

Bain, Tempus to buy Trans Maldivian for Rs 3,525 cr

Access to info utilities under bankruptcy law: IBBI proposes, RBI disposes

Committee set up for revival of loss-making SAIL, RINL: Govt

Trai may reduce mobile number porting cost by 80% to Rs 4

Firms acquiring stressed assets under insolvency may get tax relief

GST, rating upgrade major achievements of 2017, says FinMin

Section of PSU bank unions threatens strike on Dec 27

Adani to build, operate Australian coal mine by itself

Gratuity law amendment Bill introduced in Lok Sabha

German chemical distribution firm Brenntag acquires 65% stake in Raj Petro

Kamat Hotels wins trademark case against Royal Orchid Hotels

IRDAI panel urges more flexibility in investment norms for insurers

CPPIB, GIC eye Baring PE?s stake in RMZ Corp

Domestic pharma gets extended release from low growth

Oracle agrees to buy Australia?s Aconex for $1.19 billion

PEs, NBFCs move to take more control of real estate projects

United Spirits sees McDowell?s No.1 brand driving sales growth

About Rs 5,000 crore spent on printing of new 500 notes

Farm loan waivers to raise state deficits by Rs 1,07,700 crore, says report

GSTN brings in option for monthly, quarterly filing of forms

Section of PSU bank unions threatens strike on December,27

Banks borrow nearly Rs 80K cr from repo windows on tax outflows

Notices to Centre, CAG on PIL over GST compensation act

Crop insurance growth to taper down in FY18

Govt unlikely to table FRDI Bill in Budget session

Markets Weekly Sentiment_16.12.2017

Markets were volatile. Sentiment was affected due to the ongoing Gujarat election. During the few days Nifty managed to recover strongly and close above 10300. As exit polls were due to come, market participants were on a wait and watch mode. The Gujarat election has been a sentiment driver from the past few weeks. A gap up on Friday led to a positive approach. Exit polls indicate that BJP should sail through. It will be a down to the wire scenario and Monday is likely to be the D-day for the near term trend in the markets.

Technically speaking Nifty is above last top of 10330. It has closed mildly above that. Immediate resistance stands at 10400 and a trend reversal point is 10500. On the lower side 10200 is the 50 day EMA, however that will not hold any relevance in the volatility give Monday’s outcome. 10150 should provide a near term support, which if breached can take Nifty towards 10000.

Fundamentally, multiples are elevated. Not a good time to be picking the index. Having said that sentiment and liquidity can over power the fundamentals for a very long time. FII’s have continued to pull out money. DII’s are still partying with retail SIPs. A 130+ seats victory for BJP will give fuel to the rally all bulls will be waiting for. It will be a sentiment driven market next week.

US closed with mildly a positive bias. FED, on expected lines, increased the interest rates. Dow continues to climb impossible levels and sits pretty at all time highs. Cryptomania continues and that segment is ripe for a scam or a bubble. Globally it seems crypto currencies are out playing all other asset classes.

Sector watch – Metals space should heat up. Watch out for its constituents as Nifty metal may begin a short-term up move towards it’s all time high.

Ongoing SME IPO_SMVD Ploy Pack Limited

SMVD PLOY PACK LIMITED

ISSUE Details

Issue opens 13th December 2017
Issue Closes 15th December 2017
Issue Price 55
Lot Size 2000
Issue Size 9.02 Cr
Lead Manager Corporate Capital Venture Pvt. Ltd
Registrar Skyline Financial Services Private Limited
Platform NSE

Company Promoters

  1. Mr. Pramod Kumar Agarwal
  2.  Ms. Sangita Agarwal
  3.  Aashakiran Commodeal Private Limited

Overview about the company

Company is engaged in the business of manufacturing of PP (Polypropylene)/HDPE (High Density Polyethylene) woven sacks bags & Sacks, Leno Bags, Jumbo (Flexible Intermediate Bulk Container) FIBC Bags & HDPE Tarpaulin. The Company started its Operations with initial capacity of 1200 MT per annum and at present has the installed capacity of 4420 MT per annum.  The manufacturing unit of Company is constructed on well developed land having area of about 73843.2 Sq. Ft. and equipped with the latest technology. With the help of advanced infrastructure, experienced & well trained professional personnel, quality control & labs supports,  policy and commitment to produce the best quality products, they have been able to establish themselves as one of the leading manufacturer of PP/HDPE Woven Sack Bags, FIBC and HDPE Tarpaulin.

Object of the ISSUE

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Capital Expenditure for Business Expansion 651.30
2 Working Capital 95.50
3 General Corporate Expenses 100.00
4 Issue Expenses 55.20
Total 902.00

Financial Performance

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 3612.54 2982.4 2938.72 2380.44 625.53
PBT 170.82 30.58 38.03 10.76 4.07
Total Assets 2143.46 2243.48 2413.3 2609.22 2815.45

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Morning Business News Round Up_Dec 14, 2017

Deadline to link Aadhaar with PAN, bank account extended till March 31

India’s current account deficit doubles to 1.2% of GDP

Reliance Jio likely to be worth as much as US’ Sprint

RBI imposes restrictions on Corporation Bank

Indian bizmen to transfer $128 bn to next gen: Karvy

RBI imposes Rs 3 crore penalty on IndusInd Bank

Banks, insurance cos under lens for inflated tax credits

Divestment activity to continue in March quarter

Indian promoted fintech company gets listed on NASDAQ

NSE to auction investment limits for Rs 7,300-cr corp bonds

SAIL says board approved JV with ArcelorMittal for automotive steel

Orchid Pharma gets USFDA nod for ANDA for schizophrenia drug

Future Group may list home furnishing arm on Friday

First low-cost airline ready for second take-off

Income-Tax dept conducts surveys at Bitcoin exchanges across country

Supreme Court allows use of petcoke by cement industry

Daily trading turnover on BSE’s India INX crosses Rs.1,700 cr

Buyers of Tata Motors cars are far younger and wealthier

Spending on agri R&D alleviates poverty substantially: Study

ADB lowers India’s GDP forecast for FY18 to 6.7%

India in talks with Indonesia for refineries, LNG plants

Vijay Mallya assets freeze order in UK courts until April 2018

GST Network simplifies returns filing process

Flipkart completes buyback of employee stock options worth $100 million

India’s CAD more than doubles to $7.2 bn in Q2, says RBI data

Turning hawkish on India as inflation zooms past RBI target

GST led to 12 percent rise in cost of solar projects, says AISIA

South Korea bans its banks from dealing in Bitcoin

Banks yet to pay CITs Rs 25 cr for note ban period, says CLA

Maruti cars to cost up to 2% more from 2018

New high: 122 IPOs raised Rs 70K cr in 2017

Banks to take another 23 firms to NCLT for insolvency

SC stays Centre’s takeover of Unitech

Morning Business News Round Up_Dec 13, 2017

Industrial output growth slows to 3-mth low in Oct

Religare gets NCLT nod to merge 11 entities with itself

‘Infra sector to attract $12-13 bn investment via NIIF’

Aadhaar compulsory for AMCs’ clients from Jan: BSE

$42b manager fears bubble in world’s biggest stocks

Indian telecom subscriber base dips to 120 cr in October

Aion-JSW frontrunner to acquire Monnet Ispat

Inflation jumps to 15-month high, IIP slows to 2.2%

IndiGo promoters offloading Rs 1,245-cr shares thr OFS

Overall India M&A value declines 12% to $56 bn in 2017

Adani Power gets over 174.84 acres of land from Jharkhand govt

NSE awaiting Sebi’s approval to launch commex derivatives: Limaye

IDBI Bank to sell 30% stake in NEGIL to exit non core business

SEBI mulls reducing listing time to four days

ONGC seeks access to data room to fix HPCL acquisition price

SEBI plans discussion paper on MF expense ratio

US, India spar over developing country status at WTO

Govt issues norms for wind power procurement

RIL said to plan Reliance Jio IPO after $31 bn spending spree

WTO talks in Buenos Aires on brink of collapse

Indian economy to grow at 7.2% in 2018, says UN report

Retailers Association writes to RBI seeking revision of MDR

Tata Communications?s 15-year wait to spin off land assets nears end

Infrastructure sector to attract $12-13 bn investment via NIIF: Economic Affairs Secretary S C Garg

Equity IRR for 1st set of toll-operate-transfer highways seen at 12-13%, says Crisil report

1,800 crore digital payment transactions likely in FY 2018, says KJ Alphons

BHEL commissions coal-fired power plant in Indonesia

Airtel to sell 20% stake in DTH arm to Warburg Pincus

Allocations for rural and urban infrastructure could rise?

Rs 10K crore tax demand on IT firms set aside

Rising crude oil takes fizz out of equities

Morning Business News Round Up_Dec 12, 2017

Morning Business News :

  • FM Jaitley says India on road to fiscal consolidation
  • Stake sale in tower cos can cut telecom sector debt
  • Fuel demand jumps 6.2% in Nov as diesel use recovers
  • Unitech moves SC against NCLT order on takeover
  • Govt considering developing civilian aircraft: Official
  • Essar Port to complete Rs 830 cr expansion at Vizag terminal
  • Real Estate may see investment from financial institutions
  • WhatsApp earnings leaks: Sebi summons officials of at least 12 companies
  • Insolvency row: SBI moves NCLT against debt-ridden IVRCL as deadline looms
  • Farm debt waivers not favoured by ex-RBI heads
  • Non-declaration of Bitcoin gains could lead to a minimum of 20% tax
  • China bank lending hits fresh record after strong credit surge in November
  • IBC auctions: Stressed unlisted firms may get tax incentives
  • Government will fully protect public deposits: Jaitley
  • India Inc garners Rs. 50,855 cr via pvt placement of debt securities
  • Investors face difficulty in linking Aadhaar with MF folios
  • USFDA nod to arm bodes well from Alembic Pharma
  • WTO ministerial begins with moderate hope of outcome
  • Suzuki’s electric vehicle tie-ups aim to aid Maruti, without the risks

Related image

  • Parliamentary panel split on Air India privatisation
  • Asian Paints acquires remaining 49% stake in Sleek International
  • SC to hear Centre’s appeal in Vodafone tax dispute case
  • India’s economy expected to grow at 7.5% in 2018, says Nomura
  • Retail inflation likely exceeded RBI’s 4% target in November
  • Amazon seller base spikes 80 per cent in 2017
  • Essar Vizag Terminal to be shut for a week
  • Videocon loan default 5 times bigger than Vijay Mallya’s Kingfisher; 28 firms have 2 days to pay up
  • Bond yields jump on fears of inflation spike, Fed rate hike
  • November marks 217% rise in PE investments, $2.7b exits
  • RBI net buys USD 852 mn of US currency in October
  • Developers apprehensive over tax on unsold flats
  • Govt in talks with Singapore for cruise connectivity: Gadkari