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Senbad Heat Map
WATCH DERIVED
NIFTY OPTIONS
· Additions to OI were seen in 11100, 11000 Puts strike while liquidation was seen at 11000, 11100 strike Calls stating that the market should remain positive in the near term.
· The largest accumulation of OI is observed at 11,100 strike calls and 1,000 strike strikes, amounting to 3.42 million and 5.76 million respectively.
FII and VIX
· The IFIs were net buyers in cash at 259.37 Cr. and were net sellers in Futures of the Index at 603.54 Cr.
· India VIX fell 3.92% to close at 13:00, hitting a higher intraday of 13.62.
(Source: Nirmal Bang) Edelweiss on ACC
Given that current cement prices are above the average of T2CY18, we see limited risk for our CY18E EBITDA. We believe that the Panindian player will benefit from the imminent increase in the use of clinker in the industry and, therefore, will retain CY19's estimates. Maintain "BUY" with the target price of Rs 1,817 (12x CY19E EV / EBITDA). Any effort by ACC to increase capacity (organic or inorganic expansion) will further stimulate feelings. Edelweiss on Bajaj Auto
We remain concerned about the spread of price war to other segments (especially premium) where players like Hero do not have much to lose. We are pruning EPS at 20% BJAUT ~ 7% to account for lower achievement and margin. We also reduced our valuation multiple to 16.0x (5% premium over the historical long-term average) of 17.5x to take into account the price war risk. Maintain "HOLD" with the revised target price of Rs 2,899 (Rs 3,300 earlier).
Street applauds L & T Finance's clean-up law; net interest income up 51%
The shares of L & T Finance have recovered Monday all 10% lost in the last six months, Monday after the good results of the first quarter of 2018 announced last Friday. However, badysts see an upward edge as its balance sheet cleanup will support earnings growth. READ MORE
Stocks in the news
· Syngene International extended its R & D contract with Baxter Healthcare until 2024.
· The GNP received a capital injection of 2,816 rupees by the Indian government.
· The bank of Allahabad received the capital injection of Rs 1,790 crore from the Indian government.
· Fitch has revised the outlook for UPL from stable to negative.
· Essel Propack started the first phase of commercial production of rolled tubes in Assam.
· Indian Energy Exchange plans to allocate shares on August 9th.
· Vedanta: groundwater around the copper plant of the contaminated business
(Source: IIFL Report)
Benchmarks are trading at record-breaking levels by inspiring their Asian counterparts in the absence of major domestic indexes.
The BSE Sense & Senbad index is trading at its peak and reached 36,896.63 in Maruti Suzuki, ITC and Infosys. The Nifty 50 index is also at a level close to 6 months touching 11,138.90 up here in intra-day
Among the sector indices, the Nifty Metal index has risen by more than 1.5%, driven by higher shares of National Aluminum Company
WORLD MARKETS
PETROLEUM PRICES
(with Reuters entries)
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