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BUY  ICIL FUTURE ABOVE  115 TGT  116-117-118 SL  113.5

BUY INDIA CEMENT FUTURE ABOVE 183.70 TGT 185-186-187 SL 182

BUY IBULHSGFIN FUTURE ABOVE 1337 TGT 1341, 1345, 1350 SL BELOW 1331

BUY TATAMTRDVR FUTURE ABOVE 242.6 TGT 243.8, 246, 248 SL BELOW 239.8

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Axis Bank slumps over 6% post quarterly earning

Shares of Axis Bank have slumped by over 6% in opening trades after announcing quarterly earning post market hours on Tuesday.  The stock opened at Rs 488 hit an intraday high of Rs 489 and an intraday low of Rs 482. Total traded volumes were approx 0.35mn shares.

The quarterly results missed street estimates as NII for the quarter was 4.5% below street estimates of Rs.4741 crore. Also, net profit for the quarter was almost 66% down from street estimates of Rs.1298 crore.

NII for the quarter remained flat at Rs.4539 crore vs Rs.4513 crore in previous year corresponding quarter. This was largely due to muted interest income growth to Rs.11235 crore vs Rs.11159 crore in Q2FY18.

Asset quality of the bank deteriorated further as GNPA’s for the quarter rose by almost 67% yoy to Rs 27402 crore. As a percentage to total advances, GNPA’s for the quarter rose by 173 bps to 5.9% vs 4.17% in Q2FY17. While Net NPA’s also increased by 110 bps to 3.12% vs 2.02% in Q2FY17.

Further, provisions for the quarter declined by 13.3% yoy to Rs.3140 crore in Q2FY18 vs Rs.3622 crore in Q2FY17. Net profit for the quarter rose by 35% yoy to Rs.432 crore vs Rs.318 crore in Q2FY17.


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BUY ICIL FUTURE ABOVE 115 TG 115.75, 116.75, 118.25 SL 113.70,

BUY PTC FUTURE ABOVE  120.20 TG  121-122-124 SL  118

BUY SYNDICATE BANK FUTURE ABOVE 67.80 TG 68.20, 68.80, 69.80 SL 67.20,

BUY ARIES AGRO ABOVE 234  TGT 237, 240, 245  SL BELOW 230

BUY SYNDICATE BANK LTD ABOVE 67.50 TG 68.20, 69, 70 SL 66.45,

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Markets open in green, Nifty on record high

The key Indian equity indices on Monday opened higher, with 50-scrip Nifty touching a fresh high.

The 30-scrip Sensitive Index (Sensex), was trading 182.24 points or 0.56 per cent higher soon after opening.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 51.90 points or 0.51 per cent higher at 10,219.35 points.

The Sensex of the BSE, which opened at 32,488.23 points, was trading at 32,614.93 points (at 9.17 a.m.), higher 182.24 points or 0.56 per cent from Friday's close at 32,432.69 points.

The Sensex touched a high of 32,635.87 points and a low of 32,477.47 points in the trade so far.


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Market Update: RIL, Tata Steel hit fresh 52-week high; Bharti Airtel rises 6.5%, Infratel 3.7%

Equity benchmarks opened on a positive note on Friday with the Nifty conquoring the level of 10,100 largly driven by Index heavyweights Reliance Industries which was up 1 percent ahead of its Q2 numbers later in the day hitting a new 52-week high at Rs 890.70. Bharti Airtel jumped 6 percent thereby extending its yesterday gains. Sensex was also trading on a strong note in the early morning trade gaining 142 points at 32,324.

Among the Nifty50 Index, Bharti Airtel was the top gainer, up close to 7 percent followed by Bharti Infratel which gained 3.45 percent. Tata Steel was the other stock which hit the new 52-week high adding 1.98 percent at Rs 706.50. Yes Bank and Reliance Industries were the other top Nifty gainers.

The most active stocks in the Index included names like Reliance Industries, Tata Consultancy Services and Tata Steel.

Within the BSE Index, Idea Cellular reversed its trend and zoomed 5.3 percent followed by Sundaram Fasteners and Can Fin Homes which added 4.3 percent and 3.77 percent respectively.

The stocks which hit new 52-week high in the Nifty included names like Avenue Supermarts, Bharat Financial Inclusion, Dabur India, Havells, JSPL and TVS Motor apart frrom RIL and Tata Steel. In the BSE Index, stocks like NBCC, NIIT Technologies, Adani Transmission, Bombay Burmah, Coromandel International and Britannia Industries were some of the many stocks which hit 52-week high.

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BUY HINDUSTAN ZINC FUTURE ABOVE 322.50 TG 324, 326, 328 SL 320,

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BUY UNITED SPIRITS LTD ABOVE 2450 TG 2465, 2480, 2500 SL 2430,

BUY KARTANAKA BANK LTD ABOVE 152 TG 153, 154.50, 156.50 SL 150,

BUY HINDALCO LTD ABOVE 255 TG 257, 259, 262 SL 252,

BUY NATIONAL ALUMINIUM ABOVE 84 TG 84.60, 85.50, 86.50 SL 83,

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Markets open on a higher note on Wednesday

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.

The Sensex of the BSE after opening at 31,975.59 points, touched a high of 32,028.22 points and a low of 31,967.54 points.

The Sensex was trading at 32,021.60 points up by 97.19 points or 0.30 per cent from its Tuesday's close at 31,924.41 points.

On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 10,042.60 points after closing at 10,016.95 points.

The Nifty was trading at 10,042.70 points in the morning.

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