Hoping for a happy weekend! Indices set for smarter start
After a rollercoaster ride on Thursday the market will hope to breathe easy for the day. The world and its problems may remain complicated but looks like for the day brakes may be on any sell-off. The Union Budget will be presented on February 29 and Minister of State for Finance Jayant Sinha said the government is working hard on Budget and that will establish a roadmap for two or three years. He said the government has laid out economic principles very well and is very confident of sustaining high growth over a long period of time.
The outlook is a positive start. Attention today will be on companies like HUL which will announce numbers. Global markets seem to be in good cheer for now. Asian markets are well in the green. US stock indices rallied with gains across the board, but energy shares in particular stood out after oil prices advanced. Among Indian ADRs, Infosys soared 8% on Q3 earnings while Tata Motors was down 2%.
Trading ideas (Time period: 1-3 days)
Dishman Pharma (BUY, above Rs333, Target Rs348, SL Rs326): Dishman Pharma had been consolidating at the top after a strong rally from August 2015 to early November 2015. From last two months, it went through a phase of sideways correction. However, following recent decline, the stock found support at its 100-DMA and has bounced back. In the process, it retraced 38.2% of its previous upmove and resumed its earlier rally. It also made a smart comeback in yesterday's trade after forming a piercing line candlestick pattern. (Duration 5 days)
Derivative strategies (Time period: Till expiry)
² SELL FUT CESC Jan below 466 with SL of 478 for target of 454-442
Lot size: 1000 Remarks: Net maximum profit of Rs24,000 and net maximum loss of Rs12,000
Corporate Snippets
² Idea Cellular has announced that it's expanding 4G network to central and north Indian states, taking total circles where it is offering 4G services to seven, up from four in December. (BS)
² Reliance Communications said it has received a go-ahead from the stock exchanges to acquire Sistema Shyam Teleservices Ltd (SSTL), which operates under the MTS brand. (BL)
² Government has approved five foreign investment proposals involving an inflow of Rs60.5bn including a Rs50bn plan of Cadila Healthcare for fresh equity infusion. (ET)
² Jindal Steel & Power Ltd has put on hold its expansion plans and said the company is not in a "tearing hurry" to sell some its non-core assets. (BS)
² Hinduja Foundries said it plans to raise up to Rs4bn through issuance of securities. (BL)
² Talwalkars Better Value Fitness Ltd has announced the acquisition of 50% stake in Chennai-based yoga studios chain Zorba for an undisclosed sum. (ET)
² A committee under the Ministry of Environment and Forest has given green signal to the proposed 2 mn tonnes per annum pellet plant at the Integrated Steel Plant being set up by NMDC in Chhattisgarh. (BS)
² State Bank of India has opened its first branch dedicated to serving startup companies in Bengaluru. (BS)
Economy snippets
² The wholesale price index (WPI)-based deflation persisted for the 14th straight month in December with the index dropping 0.73% compared to 1.99% in November. (ET)
² Power and Coal Minister said Japanese financial institutions have evinced keen interest in investing large amount of capital in various sectors including energy space in India. (BL)
² Growth in India's coal-based installed power-generation capacity is on a decline, despite an increase in production and availability of coal in the country. The coal-based installed capacity in 2015 grew at 10.7%, compared with 10.9% the previous year. (BS)
² Russian steel is flooding the domestic market making primary domestic producers incur cash losses worth Rs 3,000-4,000 per tone. (BS)
Result table
| Rs m | Revenues | YoY % | PAT | YoY% |
| Infosys | 1,59,020 | 15.3 | 34,650 | 6.6 |
| Cyient Limited | 7,818 | 9.8 | 868 | (13.9) |
| Mastek Limited | 1,378 | NM | 8 | NM |
Warm Regards,
Amar Ambani
IIFL
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