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Friday, June 23, 2017

Buy, Sell, Hold: 4 stocks and 1 sector are on analysts’ radar today

Tata Motors and BHEL, among others, are being tracked by analysts today.

Tata Motors

Brokerage: CLSA | Rating: Sell | Target: Rs 405

The brokerage house said that global luxury auto demand is softening, while it sees JLR gaining share. Further, it added, that it liked JLR’s strong pipeline, but remained concerned on its margin and India business. CLSA also sees further consensus downgrades ahead.

Petronet LNG

Brokerage: Citi | Rating: Buy | Target: Rs 541

The global financial services firm said that a possible purchase of 25 percent stake in Mundra’s LNG terminal to be a positive use of cash. A stake in Mundra LNG terminal may provide the company with a new avenue of growth, it added.

Further, it remains relatively immune to India’s broader LNG demand outlook. With GAIL’s Kochi-Mangalore pipeline under construction, it may see better utilisations from FY20. The company’s solid volume visibility & undemanding valuation make it a preferred pick, it added.

Mahindra & Mahindra

Brokerage: Credit Suisse | Rating: Overweight | Target: Rs 1,530

The research firm believes that farm loan waivers could further support tractor demand. It added that the states which waived loans so far account for more than 30 percent of total tractor volumes. This contribution, it says, will increase to 65 percent of total volumes if other states waive farm loans as well. It cited the instance of 2008 when waivers had improved tractor business CAGR to 21 percent.


Brokerage: JPMorgan | Rating: Underweight | Target: Rs 120

JPMorgan said that staff costs were likely to increase 20 percent in FY18 after wage settlement exercise. Further, it added, that diversification efforts have not produced very significant results. The company will have to win a very large share to sustain 8-9 percent growth in FY19. It does not see replacement of thermal plants as being a big catalyst.


Brokerage: Jefferies

The research firm said that steel remains a tolling business and input costs were a key driver of steel prices. It feels that iron ore prices will remain under pressure on weak fundamentals. Chinese stimulus appears to be fading & re-stocking cycle has ended, the brokerage house said. Meanwhile, domestic steel prices should fall more, while prices are still at 6-8 percent premium to anti-dumping duty.

Among players in the sector, it sees earnings before interest, taxes, depreciation and amortisation (EBITDA) growth for major players to be modest. At SAIL, free-cash-flow could lag pushing net debt higher, while on JSW Steel, the firm feels that consolidated margin expectations are too optimistic. A sharper than expected fall in coking coal costs is a key risk.

Thursday, June 22, 2017

Tata Motors up 1% on Rs 500 crore fund raising plan via NCDs

The said securities will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Shares of Tata Motors has bounced back more than 1 percent intraday Thursday on plan to raise Rs 500 crore via issue of securities on a private placement basis.

"A meeting of the duly authorised Committee was held on June 21, approving offering for subscription, on a private placement basis, up to 5000 rated, listed, unsecured, 7.50 percent coupon, redeemable, non-convertible debentures ('NCDs') of face value Rs 10,00,000 each, at par, aggregating up to Rs 500 crore,' as per BSE release.

The said securities will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Credit Rating & Research (CARE) has assigned CARE AA+ rating to the securities.

The tenure of the securities is 1826 days from the deemed date of allotment and date of maturity is June 22, 2022.

At 10:21 hrs Tata Motors was quoting at Rs 461.05, up Rs 3.75, or 0.82 percent on the BSE.

Wednesday, June 21, 2017

Nifty to open gap down by 29 points at 9645: Dynamic Levels

Nifty to open gap down by 29 points at 9645 against yesterday's close of 9674 as per SGX Nifty, says Dynamic Levels.

Market near all-time high, invest in strong fundamental stocks

Indian Market Outlook: The benchmark index Nifty on June 20, opened at 9671 and made a low of 9644 after making a high of 9677. Nifty closed at 9654 levels, down by 3 points from its previous day close.

Logistics stocks on Tuesday’s trading session jumped as the Finance Minister Arun Jaitley during a press conference said that the GST switch-over will happen from June 30 midnight and roll-out on July 1.

Bank Nifty made a high of 23760 levels, opened at 23721 and closed at 23698. The smallcap index traded flat throughout the day. The index opened at 7441 and closed at 7440 after making a high of 7464.

Nifty to open gap down by 29 points at 9645 against yesterday's close of 9674 as per SGX Nifty.

Disclaimer: The views and investment tips expressed by investment experts on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Tuesday, June 20, 2017

Tata Power to sell stake in Indian Energy Exchange via IPO, shares jump 4%

Tata Power is one of shareholders of Indian Energy Exchange that filed IPO papers with SEBI.

Tata Power shares gained as much as 4 percent in morning trade Tuesday as the company is expected to dilute its stake in Indian Energy Exchange through initial public offering.

The company is one of shareholders of Indian Energy Exchange that has filed draft red herring prospectus with capital markets regulator SEBI to float an IPO.

Existing shareholders including Tata Power Company, private equity arm of Aditya Birla Group, Madison India Capital and Renuka Ramnath-led Multiples Alternate Asset Management will sell 60.65 lakh shares in the company via IPO.

Besides, AF Holdings, Kiran Vyapar Ltd, Golden Oak (Mauritius) Ltd and IEX's former chief executive Jayant Deo, will also offload shares in the public issue, according to the draft red herring prospectus (DRHP).

Established in 2008, IEX is India's first power exchange providing automated trading platform for electricity (for physical delivery) and renewable energy certificates.

Axis Capital, Kotak Mahindra Capital Company and IIFL Holdings will manage the company's public issue. The shares are proposed to be listed on the BSE and National Stock Exchange (NSE).

At 10:05 hours IST, the stock price was quoting at Rs 80.85, up Rs 2.85, or 3.65 percent on the BSE.