New week, old ways! Subdued start for indices
Rising concerns over a global slowdown, particularly due to a possible hard landing in China, geo-political tensions and lack of visible recovery in India Inc earnings remain reasons for the ongoing fall in the stock market. A strengthening USD is resulting in flight of capital to safety and all emerging markets are getting painted with the same brush by FPIs. Oil prices crashed to close below $30 a barrel for the first time in 12 years last week, as Chinese stock markets fell further and traders braced for an imminent rise in Iran's exports.
The outlook is a weak open. The rupee hit a 28-month low against the US Dollar and will be eyed. This week, a number of large-cap companies will announce their results. These include RIL, HCL Tech, Axis Bank and Asian Paints. Wipro, Kotak Mahindra Bank and Mindtree results will be in focus on Monday. December Export-Import data is expected before noon. Global cues are subdued.
Trading ideas (Time period: 1-3 days)
BEL Jan Futs (SELL, above Rs1,267, Target Rs1,220, SL Rs1295): BEL has recently signaled trend reversal below Rs196 with broader pattern indicating near breakdown from rising wedge, stock could be heading below Rs1,290 in the medium term. Inability of stock to conquer ground above its recent top of Rs1,370 reinforces negative trend in the counter. The daily RSI too has retreated from short term overbought zone and has good cushion to decline, before entering into oversold terrain. (Duration 5 days)
Derivative strategies (Time period: Till expiry)
² SELL FUT AMBUJACEM Jan below 195 with SL of 199 for target of 188/185
Lot size: 2100 Remarks: Net maximum profit of Rs21,000 and net maximum loss of Rs8,800
Corporate Snippets
² Increased output by Coal India has resulted in savings of about Rs 170bn and the state-run miner is set for a record production of 550mn tonnes (MT) this fiscal, a top ministry official said. (BS)
² Oberoi Realty sold 645 housing units for about Rs 18bn in the third quarter of this fiscal, largely in its newly-launched residential project at Borivali in Mumbai. (BS)
² HPCL has received the environmental clearance (EC) to expand its refinery at Visakhapatnam in Andhra Pradesh from 8.33mn tonne per annum to 15.0 MTPA. (BS)
² Indian Oil Corporation's latest refinery in Orissa, the first in over a decade for the nation's largest fuel major, started production of petrol from the Rs. 346bn facility. (BL)
² Godrej Consumer Products Ltd (GCPL) is targeting 10% market share in the hand wash and hand sanitisers segment in the next three years with its Protekt range. (BL)
² The 10% stake sale in Coal India is likely to be deferred to next fiscal as the government wants to wait for stability in the equity market for a better valuation. (BL)
² Online marketplace Flipkart has tied up with auto major Mahindra & Mahindra Ltd to exclusively launch the latter's newest SUV- KUV100. Consumers can book the SUV on Flipkart from January 18th, 2016. (ET)
² In a first by a public sector firm, ONGC Videsh Ltd has refinanced a $1.8bn loan at lower rates to save nearly $37mn in interest payout, besides extending the repayment tenure. (ET)
² Aurobindo Pharma has received final approval from USFDA to manufacture and market its Tranexamic acid injection and Paricalcitol capsules in the American market. (ET)
Economy snippets
² With international nuclear sanctions on Iran being lifted, India will resume its unrestricted import of oil from the Persian Gulf nation. (BS)
² The government has decided not to cut its annual borrowing this fiscal as it wants to keep public spending high in order to keep growth engines running. (BL)
² Foreign direct investment in the food processing sector is likely to go up by at least 25% as FSSAI has streamlined the regulations to ease product approvals, the Union Minister has said. (ET)
Result table
| Rs m | Revenues | YoY % | PAT | YoY% |
| HUL | 79,810 | 2.7 | 9,714 | 1.0 |
| Oberoi Realty | 7,819 | 260.2 | 2,094 | 164.2 |
| Zee Entertainment | 15,951 | 16.7 | 2,750 | (10.9) |
| LIC Housing Finance | 31,392 | 16.3 | 4,189 | 21.7 |
| Gruh Finance | 3,236 | 19.3 | 537 | 20.1 |
Warm Regards,
Amar Ambani
IIFL
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