With LeEco 'gone', harrowing time for employees, vendors with dues, bills

Billed as a "true disrupter" in the Indian smartphone market last year, Chinese internet and technology conglomerate LeEco has vanished into thin air within months, leaving behind vendors with hefty unpaid bills and employees owed their dues.After laying off a substantial number of employees -- as many as 85 per cent staff across the sales, marketing and distribution departments since December -- the company said in March that it does not have any plans to exit from India. Nifty Trading Tips

It also said the "resource head count in India is well aligned to the scale of operations envisioned and in line with industry benchmarks"But the ground reality is strikingly different.Reduced to a staff of 30 from 480, LeEco, which had a huge marketing spend, is today nowhere to be seen -- not on billboards, TV screens or in newspapers.There are just eight or nine junior-level staff working at its Gurgaon office while the rest are in Bengaluru and other places.  

3 years of Modi govt: Markets give a thumbs up to NDA

Indian equities have surged to record highs during the three years of the Narendra Modi government. Since May 26, 2014, the day he was sworn in as Prime Minister, the benchmark Sensex and Nifty indices on the two major exchanges have rallied 23 per cent and 28 per cent, respectively.  Future & Option Trading Tips
 
The Sensex has crossed the psychological 30,000-mark; the Nifty is around 9,500. Mid-cap and small-cap stocks have outperformed the blue-chips ones. The BSE MidCap and SmallCap indices have gained 73 per cent and 71 per cent, respectively. As a result, total market capitalisation has gone up 47.5 per cent, from Rs 85.2 lakh crore to Rs 125.7 lakh crore in the period. Last week, India’s total market cap crossed $2 trillion for the first time. “Going by the gains in three years, the market has given a thumbs-up to the Modi regime,” said U R Bhat, managing director, Dalton Capital Advisors (India). “Modi has tried to address issues that have been holding the economy back and focus on the big picture.”   Financial Astrology Tips

Markets continue to trade higher in noon trade: ITC top gainer, up 4%

Benchmark indices continues trading higher in noon trade following mixed cues as global markets trade positive in the early-morning deals. Investors shrugged off a weekend missile test by North Korea that raised further concerns on its ability to deliver a nuclear warhead.
Street also reacted positively to the GST rates announced on Friday. Most rates fall under 18% category which mostly won’t pinch the common man. “The effective tax incidence is set to decline,” said Union Finance Minister Arun Jaitley. 

Commodity Trading Tips

At 12:03 pm, the S&P BSE Sensex was trading at 30,605, up 140 points, while the broader Nifty50 was ruling at 9,457, up 2. The broader markets enderperformed benchmark indices with the S&P BSE Midcap index and S&P BSE Smallcap down 0.3% and 0.1% respectively.

Nifty Trading Tips

Mutual funds sees Rs 1.51 lakh crore inflow in April

Investors have pumped in nearly Rs 1.51 lakh crore into various mutual fund schemes in April, with liquid, income and equity funds attracting most of the inflows. This comes following an outflow of close to Rs 55,000 crore in the preceding month. "Indian investors have now eventually assimilated mutual funds and the credit goes to awareness programs and endeavours by regulators and AMCs in mutual fund industry," Bajaj Capital CEO Rahul Parikh said. "Besides, investors have preferred debt and balanced category of mutual funds because of falling interest rates of secured investment schemes like PPF (Public Provident Fund) and Bank FDs (Fixed Deposits)," he added. Financial Astrology Tips

Further, Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) ways of investing have also given the investors a choice as well as flexibility of investing periodically or in lump sum as per their preference. According to data by the Association of Mutual Funds in India (Amfi), a net sum of Rs 1,50,703 crore has been invested in mutual funds in the month of April. In the entire 2016-17, investors had poured over Rs 3.43 lakh crore into various mutual fund schemes. The latest inflows have been mainly driven by liquid, income and equity funds. Liquid or money market fund category attracted Rs 99,403 crore, income funds saw net inflows of Rs 34,647 crore while equity and equity-linked schemes saw inflows of Rs 9,429 crore. Astrology and Numerology Trading Tips

Automotive Axles, Harita Seating Systems rally on good Q4 results

Shares of auto ancillaries companies such as Automotive Axles and Harita Seating Systems rallied by up to 15% on the BSE in intra-day trade after reporting a strong set of numbers for the quarter ended March 2017 (Q4FY17). Automotive Axles hit a 52-week high of Rs 803, up 15% on BSE in early morning trade, after the company posted 59% growth in net profit at Rs 17.27 crore in Q4FY17. It had profit of Rs 10.87 crore in the same quarter year ago. Net operational revenue grew 12% to Rs 351 crore against Rs 312 crore in the corresponding quarter of previous fiscal. The board of directors of the company has recommended a dividend of Rs 8 per share of Rs 10 each for the financial year 2016-17. Harita Seating Systems surged 8% to Rs 739 after earnings before interest, tax, depreciation and amortization (Ebitda) increased by 45% to Rs 9.54 crore in Q4FY16 from Rs 6.57 crore in Q3FY16. Future & Option Trading Tips

HUDCO makes strong debut; lists 22% premium to issue price

Shares Housing and Urban Development Corporation (HUDCO) has listed at Rs 73.45, a 22% premium against its initial public offer (IPO) price of Rs 60 on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 73. The discount of Rs 2 per share to the issue price of Rs 60 was offered to retail and eligible employees. At 10:06, the stock was trading at Rs 76.65, after hitting high of Rs 77.80 on BSE post its listing. On the NSE, it high of Rs 77.85 in intra-day trade so far. A combined 84.01 million shares changed hands on the counter on BSE and NSE so far. The IPO of HUDCO saw huge demand from investors and was subscribed nearly 80 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor's category was subscribed about 11 times. Commodity Trading Tips



The state-run HUDCO, which provides loans for housing and urban infrastructure projects in India, recently raised over Rs 1,120 crore as a part of its IPO, assisting the government's efforts to meet its disinvestment target.The company enjoys strong relationship with the state governments and their agencies and finances various central and state government schemes in housing and urban infrastructure development.  In most cases these loans are subject to repayment through allocations in state government budgets or recourse to alternate sources of revenue, which reduces the recovery risk of loans to state governments and their agencies. “As at December 31, 2016, gross non-performing assets (NPA) ratio for loans to state governments and their agencies was 0.75% as compared with total gross NPA of 6.80%. In addition to this, lending to state governments also helps in the higher capital to risk (weighted) assets ratio (CRAR) of 63.7% as at December 2016 as the risk-weight to such loans is “zero”,” YES Securities said in an IPO note. Nifty Trading Tips

Weak volumes, higher costs dent Bajaj Auto's Q4 show

Barring the margin blip, Bajaj Auto’s fourth (March) quarter numbers were broadly in line with Street expectation. Despite a weaker volume, down 10 per cent due to demonetisation and shift to BS-IV emission standards, revenue was Rs 5,212 crore, down only three per cent over a year ago and better than the Bloomberg consensus estimate of Rs 4,830 crore.  The operating profit margin was 21.2 per cent, pegged back by higher raw material costs and expenditure from the transition to BS-IV, down 210 basis points (bps) over a year. Astrology and Numerology Trading Tips

FMCG index hits record high

Shares of fast moving consumer goods (FMCG) companies were in focus in morning deals, with the S&P BSE FMCG index rallied more than 3%, hitting a record high on BSE after the Goods and Services Tax (GST) Council, at its meeting in Srinagar on Thursday, approved rates for about 1,200 items. At 09:21 am; the S&P BSE FMCG index, the largest gainer among sectoral indices, had rallied 3.4% at 9,774 as compared to 0.72% rise in the benchmark S&P BSE Sensex. The FMCG index hit a record high 9,804, surpassed its previous high of 9,646 touched on May 17, 2017 in intra-day deals. Future & Option Trading Tips

ITC, Colgate-Palmolive (India), Jay Shree Tea, Tata Coffee and Marico were up more than 4%, while, Goodricke  Group, Tata Global Beverages and Godfrey Phillips India were up 4% each on the BSE. ITC, Hindustan Unilever, Avanti Feeds and Manpasand Beverages from the FMCG index hitting their respective record highs in intra-day deal. According to reports, hair oil and toothpaste will be taxed at 18% under the GST, lower than the current tax incidence of about 23-24%, while sugar, tea, coffee and edible oil will be taxed at 5%. All capital and intermediate goods will be in the 18% tax slab, lower than the current 28%, a Business Standard report suggests. Financial Astrology Tips  

Sensex extends gains to hit fresh high, Nifty tests 9,500; FMCG stocks rise

The benchmark indices extended gains on Friday with S&P BSE Sensex hitting fresh record high, tracking a rebound in global markets, while back home, FMCG stocks rallied after GST Council notified the rates for 1,211 goods on Thursday. At 10:08 am, the S&P BSE Sensex was trading at 30,669, up 235 points, while the broader Nifty50 was ruling at 9,493, up 64 points. In the broader market, the S&P BSE Midcap the S&P BSE Smallcap indices added 0.8% and 1%, respectively. "We would continue with the positive bias as long as Nifty manages to hold the important support of 9,372. Only a sustainable move below this level would apply brakes on ongoing optimism. However, as of now, we do not want enter this bandwagon. We would rather expect the index to reclaim the 9,500 mark soon," said brokerage Angel Broking in a technical note. Commodity Trading Tips

Sectors and stocks 

Nifty FMCG was the leading sectoral gainer and gained over 4%, led by gains in Colgate Palmolive (up 6%), ITC (5.5%), Marico (up 4%), Tata Global (3.5%) and Emami (up 2.2%).  ITC and HUL were the best performers on Sensex and jumped up to 6% on the BSE. Bank of Baroda rallied over 4% after the company reported a fourth-quarter net profit of Rs 155 crore ($23.89 million). The Mumbai-based bank, the fifth-biggest in the country by assets, had reported a net loss of Rs 3,230 crore in the year-ago quarter. Nifty Trading Tips

India's palm oil import spurts 2.25% in April

Palm oil import rose 2.25 per cent to 7,52,632 tonnes in April on higher shipment of crude palm oil (CPO), industry body Solvent Extractors Association (SEA) said on Tuesday. India, the world's leading vegetable oil buyer, had imported 7,36,036 tonnes palm oil in April 2016. The country's total vegetable oil import grew by 7 per cent to 13,39,489 tonnes in April this year, from 12,48,887 tonnes in the year-ago period. Palm oils comprise 62 per cent of the total vegetable oil import. However, import of vegetable oils in the first six months of the ongoing 2016-17 oil year ending October has dropped to 43,02,135 tonnes, from 43,40,890 tonnes in the year ago. Future & Option Trading Tips 

According to SEA, the difference between the landed price of two palm oils -- RBD palmolein and CPO -- has narrowed, encouraging the shipment of CPO this month. Also, strengthening of the rupee in the last three months supported the import of vegetable oils. Among palm oil products, import of CPO went up to 5,11,139 tonnes in April this year, from 3,98,606 tonnes in the year- ago period. However, the shipment of RBD palmolein fell to 2,32,243 tonnes, from 3,25,902 tonnes, while that of import of crude palm kernel oil (CPKO) fell to 9,250 tonnes, from 11,528 tonnes in the said period, the SEA said in a statement. Financial Astrology Tips

Darjeeling tea trade turns cold on strong rupee

Even as prices of the first flush Darjeeling tea have surged by 15-25 per cent in the international market, primarily on account of less availability of this variety, tea producers might fail to convert the price increase into higher margins owing to currency volatility. Tea producers from Darjeeling say the price increase has happened majorly in the mid-range bracket, where the tea is sold between Rs 1,300 and Rs 1,500 a kilogram (kg), while it’s Rs 3,000-3,300 a kg for the upper bracket. However, prices have remained stagnant at Rs 500-700 a kg for lower grades. S S Bagaria, former chairman of the Darjeeling Tea Association, says on average, the international prices have shot up to $22 a kg (Rs 1,410, at current exchange rate) from last season’s $20 (Rs 1281).  Commodity Trading Tips

“Production was severely affected on account of erratic weather. Thus, while the net available tea in the international market was low, the demand increased by five per cent, which led to a price rise,” he said. Demand, particularly, increased from Japan, the US, and the UK, while it fell by 20 per cent for top grades from German blenders. “Although the prices are up, a strong rupee might bring down the actual earnings once the US dollar or the British pound or the euro is converted into the Indian rupee,” said C P Krishnan, director, Geofin Comtrade. Nifty Trading Tips

Dynamic fuel pricing: Dealers feel heat over increased risk, lower profits

A fortnight into public sector oil companies offering dynamic fuel price change at five cities in the country, oil companies see no red flags, but dealers may be already feeling the heat. State run oil companies have been offering the dynamic fuel price model at five locations-Pondicherry, Chandigarh, Jamshedpur, Udaipur and Vishakhapatnam since May 1. Though the practice is common globally, this has been introduced in India as a pilot project in the five locations. "We have not received any feedback -- both negative and positive. So, it is doing well and also too early. No decision has been taken on the full roll out. There has been no issue in terms of implementation," said a marketing official from one of the three PSU oil companies. Nifty Trading Tips

This step from state-run companies has also seen private fuel retailers follow suit. Essar Oil, for instance, is offering the same fuel pricing at its pumps in these five locations. Reliance Industries, according to sources, is also offering dynamic fuel pricing at some of its outlets. "We are currently having a pilot run of the scheme and dealers have been asked to submit the report on a daily basis. Once the pilot stage is over, we will come up with an overall report and take a call on the national launch," said B Ashok, chairman, Indian Oil Corporation. Future & Option Trading Tips

After Q1 spike, gold imports to drop sharply under GST, says WGC

Indian gold imports will drop back sharply after jumping in the first quarter, the World Gold Council (WGC) said on Wednesday as the launch of a new tax regime and restrictions on refiners' ability to import gold dore take their toll. Full-year imports will be little changed from 2016's 524 tonnes, gold industry-funded WGC's managing director for India Somasundaram PR said. Given the doubling of imports in the first quarter to 253 tonnes, as jewellers rushed to restock ahead of the introduction of the new national sales tax on July 1, that suggests imports will reach only 271 tonnes in the remainder of the year, a quarterly average of just 90 tonnes. Commodity Trading Tips

In addition to the impact of the tax, imports of unrefined gold, or dore, will be restricted by new rules that ban refineries which are not regulated by the Bureau of Indian Standards (BIS) from importing gold, Somasundaram said. So far, only three or four of India's 31 large refineries are BIS-accredited, Somasundaram said. It will take the others an estimated three to four months to receive accreditation after BIS inspection, he added. "Overall demand is going to be (flat at) 650-750 tonnes, and I don't expect imports to behave any differently compared to demand," he said. Astrology and Numerology Trading Tips

Rupee loses 27 paise against dollar; capital flight, imports cause fall

Fresh capital flight cast its shadow on the rupee as the local unit lost 27 paise at 64.42 against the US dollar in the beginning, with additional support showing up in the form of demand from importers and banks. This is the third straight slide, which dealers say is mostly due to incoming demand for the US currency and a lower opening in the domestic stock market. But the continuing political turmoil surrounding US President Donald Trump's recent executive decisions and uncertainty about his economic agenda put the dollar in a spot of bother overseas, which somewhat limited the rupee's slump. Yesterday, the rupee had ended lower by 7 paise at 64.15 due to sustained demand for the greenback from importers. Stocks, in the meantime, got off to a decisively weak start as the benchmark Sensex retreated from record highs by falling 222.21 points, or 0.72 per cent, at 30,436.56 in the early session. Financial Astrology Tips

Life at 30,000 market level: It's time to buy on arithmetic, not optimism

When it comes to creating long-term wealth, nothing beats asset allocation. Though this topic is often discussed, Indian investors tend to lean heavily towards traditional investment options when it comes to making investment choices. Equities are hardly a point of consideration, given the fear of losing money in the market. Over the past three years, there has been a change in this sequence of consideration. Over the course of last one year, retail investors have consistently flocked to the market, taking the industry SIP book to a high of Rs 4,200 crore in April 2017 – all through SIPs – show data as on April 31. However, at this juncture, it is important to remember that just because the equities segment is performing, it doesn’t mean you increase your exposure to this one particular asset class considerably. With the benchmark indices currently hovering around all-time highs, this is the time for a prudent investor to exercise caution. That is because market valuations based on various parameters like price-to-earnings (PE) indicate that the market is expensive, while on the basis of price-to-book (P/BV) and market-cap, it is courting slightly above its long-term averages. Nifty Trading Tips

For those who have been investing over the past few years, the portfolio gains might be quite handsome, pushing up the overall portfolio value. So, now is the time to make some prudent rebalancing to the portfolio such that the gains are fortified. This is because no asset class, especially equities, can guarantee gains at all times. In equities, volatility is sure to make a return and that’s when the going gets tough. Therefore, for a retail investor, apart from SIPs into core portfolio funds, one could consider opting for dynamic asset allocation funds for lump sum investment as well as for any fresh market entrant. What dynamic asset allocation effectively does is help negate the burden of emotions associated in the investing process.  Future & Option Trading Tips

IRB InvIT, India's first infra trust makes debut, lists at Rs 103.25

The infrastructure investment trust had successfully closed its initial public offering (IPO) earlier this month, with the issue being oversubscribed 8.57 times. The institutional investors category was oversubscribed 10.81 times and other investors 5.89 times. IRB Infrastructure Developers, the sponsor of the InvIT, had garnered Rs 5,035 crore through the IPO. Shares of IRB Infrastructure Developers were trading 3% down at Rs 249.20 around 10.20 am (IST) on BSE. At 10:20 am, IRB InvIT was quoting at Rs 100.35 on BSE, down 2.8% with respect to its open price of Rs 103.25 and 1.6% against issue price. The scrip reached a high of Rs 105 and low of 99.65 in today's trade. The issue was open to bidding between May 3 and May 5 and the offer had a price band of Rs 100-102. The fund raised nearly Rs 2,100 crore from anchor investors allotting nearly 20.53 crore units. IDFC Bank, Credit Suisse Securities and ICICI Securities were the lead managers to the offer. InvITs or infrastructure investment trusts are those debt instruments that will be traded in the market and can act as investment vehicles for sponsors. Commodity Trading Tips

Tata Steel gains 5% post Q4 results; best performer on Sensex

Shares of Tata Steel was up 5% to Rs 480 on BSE in intra-day trade even as the company reported a consolidated net loss of Rs 1,168 crore in March 2017 (Q4FY17), 61% lower as compared to Rs 3,042 crore in the same quarter the previous year. The company’s consolidated revenue during the quarter under review was up 33% at Rs 35,305 crore, against Rs 27,071 crore in the year-ago period. “The overall outlook for the steel market remains constructive on optimism on US infra spend and China supply side reforms. The recent slide in commodity prices, however threatens to dampen this optimism,” Tata Steel said on business outlook on India & South East Asia. Commodity Trading Tips




Thrust on infrastructure & affordable housing along with increasing emphasis on buying domestic manufactured steel for government projects is expected to drive growth in the Indian market, it added. “Tata Steel's Q4FY17 consolidated EBITDA, at Rs 7,030 crore, was higher by 213% YoY and 93% sequentially with all geographies surprising positively, especially the European operations on the profitability front,” analyst at Antique Stock Broking said. Domestic steel prices are likely to face pressure from the lower Chinese and CIS steel prices accentuated by the stronger INR and steel spreads at India and Europe could be impacted by the volatility in coking coal prices, the brokerage firm said in result review and maintain ‘hold’ rating on the stock. Nifty Trading Tips

ICICI Bank, Hindustan Unilever, SBI, JBF Ind, Sintex Ind hit 52-week highs

ICICI Bank, Hindustan Unilever, State Bank of India (SBI), JBF Industries, Sintex Industries, Ceat and Finolex Industries are among 34 stocks from the S&P BSE500 index that hit their respective 52-week highs in otherwise range-bound market. Bajaj Finance, Adani Transmission, DLF, Engineers India, Godrej Industries, Uflex, JSW Steel, Monsanto India, Sobha and Motilal Oswal Financial Services were also trading at their 52-week highs on BSE in intra-day trade. At 10:51 am; the S&P BSE 500 index trading flat at 13,273 after hitting a record high of 13,289 in early morning deal. On comparison, the benchmark S&P BSE Sensex was up 0.06% at 30,602 on BSE. Commodity Trading Tips



JBF Industries has soared 11% to Rs 305 on back of an over five-fold jump in trading volumes. JBF manufactures three products - partially oriented yarn (POY), polyester biaxially-oriented polyethylene terephthalate (BOPET) film and various types of bottle grade, film grade and textile grade polyester chips. India Infoline, the local brokerage firm, recommended ‘buy’ rating on the stock with a one year target price of Rs 382. “JBF has strengthened its presence in Polyester processing market through capacity addition and backward integration. Currently polyester’s share in globally consumed fibers is 50%; which can go up to 57% by 2020. Moreover, demand for BOPET films and chips will be driven by improving macro environment. JBF is well poised to capitalize on this opportunity as it is the second largest domestic supplier with capacity share of around 20% each in textile and bottle grade chips. It boasts of a capacity share of 70% in UAE and 45% in GCC in bottle grade chips,” IIFL said in a client note.  Astrology and Numerology Trading Tips

GST provision may lead to closure of branches & formation of shell firms

The introduction of the goods and services tax (GST) in July will pose a challenge for the enforcement authorities due to a provision in the GST law that mandates companies transferring goods to a branch outside the state to pay the interstate goods and services tax (IGST). However, if the same company sells goods to customers on approval basis outside the state, it gets six months to pay the IGST. Surendra Mehta, secretary, Indian Bullion and Jewellers Association (IBJA), said: “This provision will lead to branches closing down, and start shell companies at branch locations to defer the payment.” Customers in India and their advisors look for ways to find loopholes to reduce, delay, or avoid tax payments. Jewellery, textiles, and other industries in which the tax burden is likely to be higher than the ones prevailing now, or those in the chain not paying tax currently will come in the tax net once the GST comes into force. In all these industries unorganised trade and the grey market had always operated.  Financial Astrology Tips

Centre directs states to lift stockholding limit on pulses

Union Food Minister Ram Vilas Paswan on Tuesday said the Centre had directed state governments to lift stockholding limits on pulses because of adequate supply and drop in prices. “The stockholding limits on pulses have been lifted with immediate effect, as there is no shortage of pulses in the country and prices, too, have fallen,” Paswan said in a series of tweets. He said the move will help producers of pulses. The central government had, in September last year, extended the stockholding limits on pulses for a year, as prices showed little signs of a fall. The stock limit on pulses was in place on and off prior to 2015. But states were empowered to implement it strictly towards the end of 2015, when dal prices soared to Rs 200 per kilo to check hoarding and contain price rise. However, with pulses production in 2016-17 reaching an all-time high of over 22 million tonne (mt), prices of most pulses, particularly tur, moong and masoor, have dropped below the minimum support price (MSP), forcing the government to intervene. “Under the Essential Commodities Act, states have been empowered to impose stockholding limits. The central government withdrew the order, as prices had fallen below MSP at several places,” said a senior official. Future & Option Trading Tips

Markets trade flat on profit booking snapping gains of last 2 sessions

Benchmark indices continued trading flat in the early-morning trade after a splendid performance in yesterday's trade on profit booking and muted global cues amid controversy around US President Donald Trump.  Back home, while corporate earnings and GST rate speculations kept the investors on toes, good monsoon prediction capped the losses. A total of 51 companies will report their earnings today including Hindustan Unilever, JSW Steel, IOB, Allahabad Bank, Bajaj Finserv, Bajaj Finance, MRPL and United Beweries. Commodity Trading Tips

At open, the 30-share Sensex rose 38 points to notch its new fresh high of 30,620, while the 50-share Nifty rose 9 points to reach another fresh high of 9,521. Before this, both the indices had hit their record highs yesterday. At 9:39 am, the S&P BSE Sensex was trading at 30,586, up 4 points, while the broader Nifty50 was ruling at 9,509, down 3 points. In the broader market, the S&P BSE Midcap index and the S&P BSE Smallcap index were trading flat, up 0.1% and 0.01%, respectively. Nifty Trading Tips

HUDCO to list shares on May 19

Shares of state-run HUDCO, which recently concluded its Rs 1,224 crore initial public offer, will make stock market debut on May 19. The IPO of Housing and Urban Development Corporation (HUDCO) saw huge demand from investors and was subscribed nearly 80 times.The portion reserved for qualified institutional buyers (QIBs) was subscribed 55.45 times, non-institutional investors saw a subscription of 330.36 times and retail investor's category was subscribed about 11 times. According to sources, the company will list its shares on the stock exchanges - BSE and NSE - on May 19. Nifty Trading Tips

The price band for the offer, open from May 8-11, was set at Rs 56-60 a share. IDBI Capital Markets, SBI Capital Markets, Nomura and ICICI Securities were the book running lead managers to the issue. Hudco, a 'Miniratna' firm which provides loans for housing and urban infrastructure projects has fixed the price band at Rs 56-60 per equity share. Of the total outstanding loan of Rs 36,385 crore as on December 31, 2016, HUDCO has financed 69 per cent to urban infrastructure projects and 31 per cent to the housing sector. Earlier this year, the IPO of Avenue Supermarts, the operator of retail chain D-Mart was subscribed by a staggering 104.48 times. Future & Option Trading Tips

Chennai Petroleum dips on disappointing Q4 results

Chennai Petroleum Corporation (CPCL) dipped 6% to Rs 393 on BSE in intra-day trade after the company reported 31% year on year (YoY) declined in net profit at Rs 171 crore for the quarter ended March 2017 (Q4FY17). The company engaged in petroleum sector had profit of Rs 248 crore in a year ago quarter. Net sales of the company during quarter under review rose 18% to Rs 6,828 crore as against Rs 5,790 crore during the previous quarter ended March 2016. On the status of various projects taken up by the company, Gautam Roy, Managing Director, CPCL said the company has undertaken resid upgradation work, laying of new crude oil pipeline, BSIV fuel norms to BSVI totalling Rs 5,200 crore. Commodity Trading Tips



Once natural gas is made available to Manali Refinery, the trajectory of CPCL’s performance would shift tremendously, he added. The board of directors of the company has recommended a dividend of 210% on the paid-up equity capital of the company, representing Rs 21 per equity share. At 11:18 am; the stock was down 5% at Rs 396 on BSE as compared to 0.41% rise in the S&P BSE Sensex. A combined 980,263 shares changed hands on the counter on BSE and NSE so far. Astrology and Numerology Trading Tips

Munjal Auto surges 10% on bonus issue plan

Munjal Auto Industries surged 10% to Rs 110 on BSE in early morning trade after the company announced the board will consider bonus issue proposal in its meeting held on Monday, May 22. “The meeting of the board of directors of the company is scheduled to be held on May 22, 2017, to consider and approve the audited financial results for the fourth quarter and financial year ended March 31, 2017,” Munjal Auto Industries, the company engaged in auto parts & equipment business, said in a BSE filing. The board will also consider and recommend the final dividend, if any, for the financial year 2016-17 and to consider recommending issue of bonus shares, if any, along with other business, it added. At 9:38 am; the stock was up 6% at Rs 106 on BSE, trading close to its 52-week high of Rs 118 touched on October 27, 2016. The trading volumes on the counter more than doubled with a combined 126,181 shares changed hands on BSE and NSE so far. Financial Astrology Tips

Over two dozen companies announce bonus issue in CY17

It's raining bonus shares for investors, with over two dozen companies announcing a bonus issue since the start of calendar year 2017 (CY17). Of these, nearly a dozen have announced the issue in the past one month alone. By comparison, 15 companies had made such an announcement in the previous corresponding year, while 17 companies did so in CY15 Thus far in calendar year 2017 (CY15), as many as 27 companies, including ICICI Bank, Petronet LNG, Godrej Consumer Products, Biocon and Wipro have announced bonus issues. In May alone, as many as six companies rewarded their shareholders via this route, while the board of Munjal Auto Industies is scheduled to meet on May 22 and Shilpi Cable Technologies on May 28 to consider a bonus. Nifty Trading Tips

Among the prominent ones, ICICI board recommended a bonus in the ratio of 1:10 i.e. one bonus share for every 10 shares held by investors. Godrej Consumer Products and Petronet LNG, too, announced a 1:1 bonus (one equity share for every one existing equity share). It is the maiden bonus issue for all these firms. In the information technology and the pharma space, Wipro declared bonus shares in the ratio of 1:1 in April, while Biocon announced in the ratio of 2:1 (one equity share for every two exiting equity shares). Market observers say bonus shares are being given to improve liquidity, besides rewarding the shareholders. Post the issue, the stock price gets adjusted according to the bonus ratio. The total market value of the company would, however, remains the same. Future & Option Trading Tips

Markets at all-time highs: Sensex up 150 points, Nifty nears 9,450

The benchmark indices extended gains to trade at  record highs on Tuesday tracking mixed trade in Asian markets and record closing on Wall Street. The 30-share Sensex rose as much as 196 points to notch its fresh high of 30,518, while the 50-share Nifty rallied 47 points to its lifetime high of 9,492. Last time, both the indices had hit their record highs on May 11. At 9:41 am, the S&P BSE Sensex was trading at 30,487, up 165 points, while the broader Nifty50 was ruling at 9,483, up 38 points. In the broader market, the S&P BSE Midcap index and the S&P BSE Smallcap index added 0.2% and 0.4%, respectively. "Going ahead, it would merely be a formality to hit new record highs. We continue with optimistic stance on the market and expect projected level of 9,600 (target of ‘Bullish Flag’ pattern) quite soon. For the coming session, the support zone of 9,400-9,377 remains unchanged," said brokerage Angel Broking.  Commodity Trading Tips

Nine of 10 most valued firms add Rs 36k cr in market valuation

Nine of the 10 most valued firms in India added Rs 35,984 crore in market valuation last week, with TCS, Infosys and RIL stealing the show as the stock market reached new heights. Barring ITC, rest of the nine companies, including HDFC Bank and HUL saw addition in their market valuation for the week ended Friday. TCS' valuation surged Rs 7,793.04 crore to Rs 4,64,922.47 crore, becoming the biggest gainer in the top-10 list.The market capitalisation (m-cap) of Infosys soared Rs 7,442.1 crore to Rs 2,21,402.50 crore and that of RIL jumped Rs 7,234.22 crore to Rs 4,39,206.31 crore. HUL's valuation zoomed Rs 5,670.6 crore to Rs 2,12,117.09 crore and that of HDFC Bank climbed Rs 4,206.45 crore to Rs 3,97,176.18 crore.  Commodity Trading Tips

The m-cap of ONGC gained Rs 1,732.49 crore to Rs 2,37,094.02 crore and of SBI went up by Rs 973.19 crore to Rs 2,40,984.41 crore. IOC's valuation rose by Rs 558.43 crore to Rs 2,10,891.95 crore and HDFC advanced by Rs 373.33 crore to Rs 2,46,060.52 crore. In contrast, the m-cap of ITC slumped Rs 3,340.53 crore to Rs 3,33,202.72 crore. TCS remained at the top in the domestic market cap chart followed by RIL, HDFC Bank, ITC, HDFC, SBI, ONGC, Infosys, HUL and IOC. The Sensex gained 329.35 points (1.10 per cent) during the week, while the Nifty rose by 115.60 points (1.24 per cent). Astrology and Numerology Trading Tips