Weekly Stocks and Events for the week ended 24 Nov 2017

stock market weekly reportsThe market registered notable gains in the week ended Friday, 24 Nov 2017, on strong global cues coupled with some domestic triggers. The Sensex picked up 91 pts on Friday to finish at a 3-week high of 33,679.24, influenced by gains in IT stocks and consumer durables stocks. The Nifty reclaimed the 10,400-mark to scale an intraday high of 10404.50 but profit taking dragged it down to 10389.70, with a gain of 40.95 points, or 0.40%.

Sensex opened the week at 33,365 and made a peak of 33,738, low of 33,288 closing the week at 33, 679. At the same time, the Nifty opened the week at 10,287 and made a high of 10,404 and low of 10261 closing the week at 10,389. Hence, all through the week, the Sensex gained 1 percent or 336.44 pts, while the Nifty rallied 1.03 percent or 106.10 pts. Moody’s S&P kept India-Sovereign rating unchanged with “Stable” outlook.

The global ratings agency maintained that growth will remain strong over coming 2 years and the country will keep up good external accounts position and fiscal deficit will be mostly in line with expectations.

Among important domestic events during the week, the govt promulgated an ordinance to modify the Insolvency & Bankruptcy Code-2016, aiming to prevent unscrupulous, undesirable persons from misusing the provisions of the code.

The Parliamentary Affairs Cabinet Committee on Friday recommended that the winter session of Parliament be scheduled from 15 Dec 2017 to 5 Jan 2018.

Stock Market News- Stocks to Watch out on 22 November 2017

sensex up Key benchmark indices edged higher in early trade on Wednesday, with indices extending fresh gains tracking steadiness in Asian stocks. The stocks of Adani Ports, Mahindra and Mahindra, Bajaj Auto, HDFC rose, while the shares of Dr. Reddy’s and Axis Bank fell in early hours. At 10.35 am, the BSE Sensex traded higher by 38.28 points to 33,514.63, while the NSE Nifty 50 rose 0.65 points to 10,327.55.

Stocks to watch out today: Steel Authority of India’s (SAIL) stock will be watched out as the company is likely to have JV for 1.5 million ton steel plant for production of auto-grade steel with Arcelor Mittal.

Telecom sector stocks will be in limelight as the Telecom Regulator has put forward relaxing spectrum holding limits.

Shares of Reliance Industries Limited is on watch after the global investment banking company Goldman Sachs raised their target price by 26% to Rs 1,205. RIL shares rose by 2% to Rs.939.65, on Tuesday’s closing.

Ajanta Pharma announced that it has got the USFDA approval for the bioequivalent generic version of Kapvay tablets and the same has been launched in US market through its wholly owned subsidiary, Ajanta Pharma USA Inc.

Bank of Baroda has announced that it has approved the proposal of raising additional equity capital aggregating upto Rs 6000 crore by way of rights issue or QIP, depending on applicable statutory approvals.

Market Morning Update: Stocks to watch out for on November 21

stock market high Morning Update- Sensex and Nifty opened marginally higher on Tuesday following an upsurge in the US markets. At 10.25 a.m., the BSE index Sensex was trading up 129 points at 33,488 levels and the NSE index 50 Nifty was up 36.95 points at 10,335.70. The Indian rupee was being traded at 65.09 against the U.S dollar in early trade.

Stock in Action: Shares of L&T Finance Holdings fell over 3% after 1.9% of the company’s equity shares changed hands in a block deal on the counter. 

CL Educate Limited, Educational support Services Company will release their Q2FY18 results today. The stock will be in focus on November 21, 2017. 

ANBCC (India) Limited has awarded the contract for construction of various Buildings for IIT Bhubaneswar at Bhubaneswar to Simplex Infrastructures Limited for Rs. 524.12 crore. The stock will be in focus on Tuesday.

Sanghvi Movers Limited has informed the Exchange that the credit rating agency ICRA has assigned ICRA to all the facilities of the company.

Lakshmi Vilas Bank has announced that its Q2 results on Monday, posting an increase of 14% in its income for the corresponding period, while, its net profit reduced to Rs. 76 core in Q2FY17 against Rs. 125 crore in Q2FY17 on the back of higher provisions.

20 Nov Monday Sensex Nifty down side, Top Stocks Trading News

sensex down The Share markets got off to a muted begin on Monday on weakness in Information Technology stocks and metal stocks after traders took profit amid sluggish global cues.

At 10.30 am, the BSE Sensex fell 16.14 points to 33,326 levels while the NSE Nifty 50 edged down 11.20 points to 10,272.40. Shares of Maruti Suzuki, NTPC, L&T, ONGC, ITC, and Adani Ports gained up to 1.6% in the morning hours while ICICI Bank, Cipla, Infosys and Tata Steel lost up to 1.2% on BSE Sensex.

Stocks of Cadila Healthcare Ltd rose 1.4% to Rs. 452.50 after the company announced that it got US Food & Drug Administration’s final nod for Ethacrynate sodium.

Stocks Housing Development & Infrastructure Ltd rose 3% to Rs. 65.50 after Morgan Stanley bought 29.18 lakh shares or 0.7% equity stake at Rs. 64.26 each on Friday.

Stocks of Wipro Ltd is on watch out as the company starts its buyback of shares from Nov 29, 2017 to Dec 13, 2017. 

Logistics stocks will be in limelight on the Exchanges after the finance ministry has decided to give infrastructure status to the logistic sector.

Sensex Nifty Gain, Index trend and Stock in Action on Wednesday

Sensex Nifty up Sensex and Nifty take cues from the positive US markets to trade on a positive note with BSE Sensex trading at 33,402 levels, up by 32 points, while NSE Nifty is trading at 10,357 levels, up by 7 points at 10.40 am on Wednesday. Pharma Sector gains strong footing with positive Q2 earnings from many companies. IT stocks trading higher with TCS, Wipro Ltd, Infosys Ltd, Tech Mahindra and HCL Technologies in the morning hours.

Quarterly Results:- Voltas Ltd, Ashok Leyland, Arvind Ltd, United Bank Limited, OBC, Bharat Forge, Petronet LNG, Balkrishna Industries, Gujarat Narmada Valley Fertilizers & Chemicals, IRB Infra, NDTV, Muthoot Finance and Thermax are scheduled to release their quarterly earnings for the Sept quarter on Wednesday.

Stock in Actions:- AkzoNobel India has said it will sell its specialty chemicals biz as a going concern to an affiliate of the AkzoNobel Group-NV Netharlands for Rs 320 crore. 

Larsen & Toubro (L&T): Schneider Electric SE, the French industrial multinational together with its consortium partner Temasek, has in business with L&T to acquire its electric and automation division for Rs 15,000-Rs 17,000 cr.

Glaxo Smith Kline has reported 4.73% rise in net profit at Rs.192.41 cr for the Q2 ended Sept 30, 2017-18. The company had posted net profit of Rs .183.72 cr in the same period of previous year.
Reliance Communications is re-negotiating its deal with Canadian investment fund Brookfield along with other prospective buyers for a stake in its tower unit.

Telecom stocks will be in focus as the TRAI is considering removal of the 50% limit on spectrum holdings within a particular band. This would help Vodafone and Idea retain all their airwaves once the merger is completed.