shareBazar: June 2016

Thursday 30 June 2016

{LONGTERMINVESTORS} HOT STOCK TO BUY ... TATAMTRDVR

BUY TataMtrDVR for short and long term gains.

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{LONGTERMINVESTORS} Stan Chart - India Morning Memo 01 July 2016

India market outlook

Market opening likely to be positive following the supportive global cues. Bank of England hints at rate cut. Technically, the supports are placed at 8220 and 8160 and resistances are at 8345 and 8400.

India market news

The Oil Marketing Companies have announced a 89 paise per litre cut in petrol prices and a 49 paise per litre cut in diesel prices in order to align the domestic rates of the two automobile fuels with global price benchmarks. Post the price revision, to be effective tonight, petrol will be priced at INR 64.7 per litre including state taxes in Delhi while diesel will be priced at INR 54.7 per litre.

Jet Airways, India's second-biggest airline by passengers, is talking to lenders about raising up to USD 180mn through a loan, banking sources said on Thursday.

InterGlobe Aviation, parent of low cost airline IndiGo, today said its paid-up share capital has increased after allotment of shares under the employees' stock option scheme.

ICICI Bank, the lead banker for Jaiprakash Associates Limited (JAL), has invoked the strategic debt restructuring (SDR) provision, setting in play the process that could pave the way for the lenders cumulatively taking over the company.

Strides Shasun's oral dosage facility in Bangalore has had successful inspection by the US health regulator with no adverse observations made.

Suven Life Sciences has been granted a patent from Europe and two product patents from Eurasia for a drug used in the treatment of neuro-degenerative diseases.

Torrent Pharma has acquired a manufacturing unit of Glochem Industries in Vizag. The facility manufactures active pharmaceutical ingredients (API), or raw materials used to make medicines, and Torrent will acquire it as a going concern on slump sale basis.

Gujarat NRE Coke Ltd has announced that the Management Committee of the Company at its meeting held on June 30, 2016, has considered and allotted 2,44,66,745 equity shares of INR 10/- each at INR 11.03 to IDBI Bank on preferential basis.

IT firm KPIT Technologies said that its revenue and profits may be flat in the second quarter, compared to first quarter of current fiscal, as ERP implementations revenue has been hit beyond anticipation.

Godrej Properties said its USD 275mn realty fund has made first investment by acquiring 80% stake in a housing project in Mumbai.

Global Markets Review

Asian stocks rose on Friday as global riskier assets continued to recover from last week's Brexit shock, while the pound came under renewed pressure after the Bank of England's governor hinted of an interest rate cut.

In commodities, crude oil inched up in early trade after sliding overnight on returning Nigerian and Canadian crude output from outages and as traders booked profits at the end of the best quarter in seven years. U.S. crude was up 0.2% at USD 48.4 a barrel after shedding c.3% on Thursday.

{LONGTERMINVESTORS} Will CNX Nifty 50 close above 8303 today and go above 8404 next week? Read the Article to find out

Link to the Article - CNX Nifty 50-Battle Among Bulls Bears to Continue Below 8303

{LONGTERMINVESTORS} Borosil test 3600 recently after making high of 4989. Is it worth buying now around 3900? Read to find out

Link to the Article - Borosil Fine Dining, Will Stock Boost Shareholders Wealth

{LONGTERMINVESTORS} CNX Nifty 50 Return of More Bulls on Closing Above 8303

Link to the Article - CNX Nifty 50 Return of More Bulls on Closing Above 8303

{LONGTERMINVESTORS} Daily mutual fund equity and debt performance report - July 1

Daily mutual fund equity and debt performance report

Dear all,

Please find the performance tracker of equity and debt mutual fund schemes in the links mentioned below.

For details, click on the links below

http://content.icicidirect.com/mailimages/ISec_daily_Equity_Performance_Report.zip

http://content.icicidirect.com/mailimages/ISec_daily_Debt_Performance_Report.zip

Research Desk |ICICIdirect.com|

Email : research@icicidirect.com |

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"The information contained in this e-mail and any attachments to this message are intended for the exclusive use of the intended recipient and may contain proprietary, confidential or legally privileged information. If you are not the intended recipient, please note that you are not authorised to disseminate, distribute or copy this e-mail or any parts of it or act upon/rely on the contents of this e-mail in any manner. Please notify the sender immediately by e-mail and destroy all copies of this e-mail and any attachments. Please also note that ICICI Bank or its subsidiaries and associated companies, (collectively"ICICI Group"), are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail transmissions and that any views expressed in this e-mail are not endorsed by/binding on the ICICI Group unless the sender does so expressly with due authority of ICICI Group. Before opening any attachments please check them for viruses and defects and please note that ICICI Group accepts no liability or responsibility for any damage caused by any virus that may be transmitted by this email. Thank you for your cooperation."

{LONGTERMINVESTORS} News Summary

1) Brexit Means Brexit: Johnson's Fall Reduces Room for EU-Turn
    (Bloomberg) -- Boris Johnson's dramatic withdrawal from the Conservative leadership race he was favored to win may make it likelier the U.K. will leave the European Union. While Johnson led the "Leave" campaign, his relatively late conversion to the cause sowed doubts among some analysts and politicians about his commitment to carrying out a process that's bound to be long and painful. "If there is one British politician who could pull off a U- ...

2) Hedge Funds Set for Worst First Half Since '11 on Turmoil
    (Bloomberg) -- The first six months of the year is turning out to be a period hedge fund managers want to forget. With China's currency causing global market turmoil in January and the U.K. vote to quit the European Union doing the same in June, the $2.9 trillion industry is headed for its worst first-half performance since 2011. "There have been a lot of intrinsic shocks this year, especially after managers got relatively comfortable with betting on rising markets ...

3) China Bond Investors Are Betting on More Stimulus After Brexit
    (Bloomberg) -- Brexit may be bad news for China, but it's improving a poor year for the country's bond investors. The 10-year government bond yield fell 14 basis points in June, the biggest decline this year, after Britain's vote to leave the European Union spurred demand for haven assets. Before the shock decision added fuel to a rally in bond markets worldwide, Chinese yields had seen the only increase among similar-maturity sovereign debt in the world's 15 biggest ...

4) Let's Talk It Over, Says BOJ, as Banks Lead Japanese Bond Revolt
    (Bloomberg) -- Struggling to feel positive about negative yen bond yields? Record-low trading getting you down? The Bank of Japan wants to hear from you. The BOJ has added its own surveys of investors and primary dealers since last year, on top of separate Ministry of Finance panel discussions with traders and economists. Never before have Japanese authorities opened so many avenues of discourse with market participants. More ...

5) Even Brexit Can't Save Currency Funds on Worst Streak Since 2013
    (Bloomberg) -- It was another rough month for currency- focused hedge funds. A gauge of returns in the $5.3-trillion-a-day foreign- exchange market extended its longest losing streak in almost three years as traders fail to capitalize on volatility that's surged to the highest since 2011. Even Britain's shock decision to exit the European Union -- which fueled the the biggest one- day gain for speculators in 10 months -- couldn't salvage a June ...

6) Rail Boom in Bangladesh Brings Trains to Asia's Longest Beach
    (Bloomberg) -- In Bangladesh, it's the age of rail. After decades of neglect and decline, the nation's railway network, much of it dating back to British colonial times, is being updated under a $30 billion plan to renovate stations and workshops, buy new trains and lay thousands of kilometers of new track. The renewed enthusiasm for rail in one of Asia's poorest nations is largely thanks to China, and its ambitious agenda to extend trade tentacles ...

7) EU's Bank Resolution Plan Questioned as Denmark Joins Doubters
    (Bloomberg) -- As Italy argueswith Germany over a plan to provide support to its struggling banks, the first country in the European Union to rule out government bailouts says its experience suggests balance sheets should be repaired before aid is pulled. "If one could do it differently, it would have been smarter to have implemented the bail-in rules after you had cleaned up the non-performing loans," said Jesper Berg, director general of Denmark's Financial ...

8) Fate of Megadeal for Hershey Rests With Scandal-Plagued Trust
    (Bloomberg) -- Holding the key to the sale of America's second-biggest candy company is a scandal-scarred, $12 billion charity that all but owns Hershey, Pennsylvania. Hershey Trust Co. controls about 80 percent of Hershey Co., guides the 107-year-old Milton Hershey School, and oversees an amusement park and resort in the town of about 14,000. Its 10 trustees have been averse to deals, scuttling efforts to separate them from their candy-coated source of cash. The ...

9) Treasury's Weiss Makes Mark Championing Puerto Rico Solution
    (Bloomberg) -- Antonio Weiss has survived protesters at his New York apartment, an advertising campaign targeting him and an anti-Wall Street tirade by a top Democrat to become a key architect of the Obama administration's strategy to rescue Puerto Rico from its deepening fiscal crisis. After months of bipartisan negotiations that often created odd political bedfellows, the Senate passed a bill late Wednesday that will restructure Puerto Rico's $70 billion debt and create ...

10) Chevron Deadline Nears for $40 Billion Bet on Next Decade's Oil
    (Bloomberg) -- Chevron Corp. may shortly give a green light to the most expensive oil project in the world this year as the industry digs out from the worst slump in a generation. The company said this week in a presentation on its website that the decision on expanding the Tengiz development in Kazakhstan will be made in mid-2016. Installing 4,500 camp beds for construction crews is done and port dredging 25 percent complete, it said. The project may cost as much as $40 ...

11) Canada's PointClickCare Said to Target Second Half for IPO
    (Bloomberg) -- PointClickCare Corp., the Canadian health- care software provider that filed to go public, aims to launch its initial public offering in the second half of this year, according to people familiar with the matter. The company plans to raise about $100 million sometime after Labor Day, said the people, who asked not to be identified because the matter is private. The timing will depend on market conditions and may change, the people said. ...

12) Skagen's $4 Billion Global Fund Bets on Citi, AIG Amid Turmoil
    (Bloomberg) -- Now is no time to shy away from financial services, according to Skagen AS. The Stavanger, Norway-based fund manager is riding out the turmoil with American International Group Inc. and Citigroup Inc. as its biggest holdings and is snapping up stocks after a "heavy overreaction" following the U.K. vote to leave the European Union, according to Knut Gezelius, who manages 32 billion kroner ($4 billion) of global stocks. "Citi is well capitalized ...

13) Avant Said to Slash Target for Online Lending, Reduce Staff
    (Bloomberg) -- Avant Inc., the online lending marketplace valued at almost $2 billion last year, is slashing a target for new loans and shrinking its workforce as the industry's rapid growth falters, according to people with knowledge of the situation. The Chicago-based firm expects originations will fall about 50 percent from a $200 million monthly rate, and plans to reduce the number of workers in line with that, one person with knowledge of the strategy ...

14) Disney Said to Buy Stake in MLB Web Unit Valued at $3.5 Billion
    (Bloomberg) -- Walt Disney Co. agreed to acquire a one- third stake in the video-streaming unit of MLB Advanced Media, in a deal that values the business at about $3.5 billion, according to a person familiar with the matter. Disney, the owner of ESPN and ABC, will also obtain a four- year option to buy an additional 33 percent stake in the digital arm of Major League Baseball, said the person, who asked not to be identified because the information ...

15) Java Junkies in U.S. Driving Global Coffee Consumption to Record
    (Bloomberg) -- American consumers can't get enough coffee, and that's sending world demand for the beans to an all-time high. U.S. per capita consumption of hot coffee will be 3.1 kilograms (6.8 pounds) in 2016, up from 3 kilograms in 2015 and matching a record achieved in 2013, according to researcher Euromonitor International. Total domestic consumption will be up 1.5 percent in the 12 months that start Oct. 1 to the highest ever, the U.S. Department of Agriculture ...

16) Raytheon's GPS III Ground Network Triggers Review on Costs
    (Bloomberg) -- The U.S. Air Force said development costs for Raytheon Co.'s network of ground stations for the newest Global Positioning System satellites are expected to increase more than 25 percent over current estimates, triggering a legal requirement to review whether the program should be canceled. The rare declaration Thursday by Air Force Secretary Deborah James, citing burgeoning costs for the Next Generation Operational Control System, or OCX, is a major setback ...

17) Gold Miners' Debt Hangover Eases as Bullion Gets Brexit Boost
    (Bloomberg) -- A surge in the price of bullion is proving the perfect antidote to gold miners' record debt chalked up over the past decade. The metal has climbed 24 percent in 2016, the best start to a year in four decades, giving producers more cash to repay loans or retire debt. The windfall is even bigger for mines in South Africa and Australia, where revenue in dollars is going a lot further because of weaker currencies used to pay workers and run operations. ...

18) Billionaire Wang's Bid for Global Theater Behemoth Falters
    (Bloomberg) -- AMC Entertainment Holdings Inc.'s $1.1 billion deal to acquire Carmike Cinemas Inc. is on the verge of collapse, a setback for Chinese billionaire Wang Jianlin's plans to build the world's largest movie theater chain. AMC, controlled by Wang, China's second-richest man, said it's prepared to walk away from its proposed $30-a-share acquisition after facing opposition from Carmike's largest stockholders, who say the price is too ...

19) Brexit Emboldens Calais to Demand Brits Take Their Border Home
    (Bloomberg) -- Brexit is a major mealtime subject at the Khyber Darbar Restaurant in the "Jungle" camp in Calais, France. The several thousand migrants camped out around the northern French port, seeking to cross over to Britain where they have family or think they can get work, are trying to make sense of the U.K. vote to leave the European Union. "Some are happy because they think that if Britain is out of Europe the border will move to Dover," according to ...

20) Carney Propels FTSE 100 Toward Best Week Since 2011 After Brexit
    (Bloomberg) -- Somehow, Brexit has been a blessing for U.K. megacaps. Supported by the plunging pound, the FTSE 100 Index -- loaded up with multinational commodity producers, drugmakers and banks -- has recovered after its post-Brexit tumble. More than that, Mark Carney's reassurance that the Bank of England will loosen policy sent the gauge to its highest level since August. HSBC Holdings Plc and Citigroup Inc. have raised their ratings on ...

{LONGTERMINVESTORS} India Summary

1) Trafigura Said in Talks for Minority Stake in Essar Refinery
    (Bloomberg) -- Trafigura Group Pte may join OAO Rosneft as a minority shareholder of India's second largest refinery if talks for the Essar Oil Ltd. site go through, according to people familiar with the matter. Essar's owners, the billionaire Ruia brothers, are in discussions to sell a stake of at least 15 percent in the 405,000 barrel-a-day Vadinar refinery to Trafigura, said two people who spoke on the condition of anonymity ...

2) Bad-Loan Ultimatum in India Sees Default Risk Climb Most in Asia
    (Bloomberg) -- Investors are starting to show nerves over the Reserve Bank of India's ultimatum for state lenders to clean up their rising pile of bad loans this fiscal year. Bank of India's credit-default swaps jumped 31 basis points in the past month, the most among Asian banks, after it was one of three lenders downgraded by S&P Global Ratings on May 30. Yield premiums on dollar bonds of the Mumbai-based company, Indian Overseas Bank and Syndicate Bank ...

3) Honeywell India Unit Seeks to Tap $4.3 Billion Push to Clean Air
    (Bloomberg) -- Refining technology companies Honeywell UOP and Technip SA see growth opportunities in India as oil demand booms and the government seeks cleaner fuels within four years to tackle air pollution. France's Technip projects as much as 20 percent annual sales growth in Asia's third-largest economy, while UOP India Pvt., a unit of New Jersey-based Honeywell International Inc., expects an increase of at least 15 percent. ...

4) Asian Stocks Set for Weekly Jump as Brexit Shock Ebbs; Oil Rises
    (Bloomberg) -- Asian stocks rose, on track for their best week since April, as investors bet central banks will limit the fallout from the U.K.'s decision to leave the European Union. Oil resumed gains with the pound. Shares from Japan to Korea drove a third day of increases in the region, with markets in Hong Kong and Thailand shut for holidays. The yuan extended its weekly slide versus the greenback after a private gauge of China's manufacturing ...

5) JPMorgan Chase to Open Three New Branches in India: E. Times
    (Bloomberg) -- Story Link

6) ICICI Bank Starts Debt Recast for Jaiprakash Associates: ET
    (Bloomberg) -- Story Link

7) Ruia Family to Give Up Control of Essar Oil, Standard Says
    (Bloomberg) -- Story Link

8) INDIA DAYBOOK: Mahanagar Gas, Manufacturing PMI, Term Repo, FX
    (Bloomberg) -- Today: Mahanagar Gas shares to debut; Nikkei India Manufacturing PMI; RBI to hold term repo auction; Road Transport Minister Nitin Gadkari, Civil Aviation Minister Ashok Gajapathi Raju to speak. WHAT TO WATCH: * India May key industries' output rises 2.8% Y/y * India May consumer prices for industrial workers rose 6.59% * India April-May budget deficit at INR2.29t or 43% of FY target * Indian Oil Corp. cuts gasoline price ...

9) IN FOCUS: China PMI, Japan CPI and Tankan; Treasury Yields Fall
    (Bloomberg) -- What you need to know from overnight and in the Asian day ahead: * China PMI for June is forecast to slip to 50 from 50.1; the three top-ranked economists expect it to meet or beat consensus * BOE's Carney signaled a rate cut could come within months; OIS pricing surged to 61% from 34% for easing at July 14 meeting * ECB is said to consider loosening rules to carry out more QE purchases; separately, S&P cut EU's rating on Brexit * ...

10) Rail Boom in Bangladesh Brings Trains to Asia's Longest Beach
    (Bloomberg) -- In Bangladesh, it's the age of rail. After decades of neglect and decline, the nation's railway network, much of it dating back to British colonial times, is being updated under a $30 billion plan to renovate stations and workshops, buy new trains and lay thousands of kilometers of new track. The renewed enthusiasm for rail in one of Asia's poorest nations is largely thanks to China, and its ambitious agenda to extend trade tentacles ...

11) Oil Extends Gains After Biggest Quarterly Advance Since 2009
    (Bloomberg) -- Oilrose after the biggest quarterly gain since 2009 as falling U.S. supply added to speculation the global surplus is easing. Futures added 0.6 percent in New York, taking its advance for the week to 2.1 percent. U.S. crude supplies shrank a sixth week and production slipped to the lowest since September 2014, government data showed Wednesday. Prices climbed 26 percent in the three months through June. Supply disruptions and falling U.S. output have ...

{LONGTERMINVESTORS} Stocks in news: ITC, Mahanagar Gas, UltraTech, ABB, Jet, Bosch

Stocks in news: ITC, Mahanagar Gas, UltraTech, ABB, Jet, Bosch

Here are stocks that are in news today:

Ex-dividend today
-Century Enka Rs 7.5 per share
-Mayur Uniquoters 20 paise per share

Oil price hike
-IOC cuts petrol price by 89 paise per litre, diesel price by 49 paise per litre
-Aviation turbine fuel prices hiked by 4.9-5.7 percent

UltraTech Cement-Jaypee deal
-UltraTech Cement's Rs 15,900 crore Jaypee deal hits hurdles
-Hurdles owing to Jaypee's failure to meet certain commitments
-ICICI Bank starts debt recast for Jaypee

KPIT Technologies - Warning
-Expects revenues to drop 4 percent in Q1FY16 with a consequent drop in profitability
-Expect revenues and profits to be flattish in Q2 over Q1 levels
-ERP revenues drop more than anticipated

Satin Creditcare
-Board approves fund raising of up to Rs 250 crore (via preferential allotment and/or QIP)
-Board approves increase in foreign portfolio investment limit to 49 percent from 24 percent
-Board approves acquisition of Taraansha Services as a wholly owned subsidiary via share swap

Godrej Properties
-Forms 2 new funds for investment in residential projects
-Forms Godrej Fund Management & Godrej Residential Investment Program Ii (Grip II)
-Grip II acquires 80 percent equity in Godrej Greenview Housing, Thane

Mahindra Lifespace
-To sell South Mumbai property to promoter family's family trust
-Seeking shareholder's nod for transaction estimated at Rs 177 crore

Nila Infra
-Promoters convert 2.25 crore warrants into shares at Rs 5 per share against current market price of Rs 12
-Promoters own 59.8 percent currently

Other stocks and sectors that are in news today:
-Mahanagar Gas listing today
-ITC goes ex-bonus (1:2) today
-Sintex Industries & NIIT Technologies to start trading in F&O today
-Indian Overseas Bank and UCO Bank will be out of F&O today
-Stocks to start trading on NSE - Adhunik Metaliks, Mahamaya Steel, Setco Automotive
-Strides Shasun's successful completion of US FDA inspection at oral dosage facility in Bangalore
-CCI investigates ABB India for unfair business ways: BS
-L&T Infotech, IT arm of L&T, looking at acquisitions in Germany, France and the Nordic region: BS
-NTPC registers 10 percent growth in power generation in Q1
-Central Bank of India looking to raise Rs 30,000 crore by way of equity sale
-HDFC, SBI Life buy 18.5 percent in IDFC Infra Debt Fund: BS
-Adani Transmission raised Rs 1,000 crore via non-convertible debentures on June 30
-Jet Airways in talks with banks for USD 180 million loan
-Bosch board meeting for buyback today
-Corporation Bank sets over-night MCLR (marginal cost of funds based lending rate) at 9 percent, 1-year at 9.55 percent
-Gujarat NRE Coke allots 2.44 crore shares at Rs 11.03 per share to IDBI under corporate debt restructuring
-Veerhealth Care received order from Vision Impex, Uganda for manufacturing toothpaste under brand Fresh Up

{LONGTERMINVESTORS} Morning Call

Dear all,

Markets end higher on the back of firm global cues

Ø Benchmark indices rose for a fourth consecutive session as firm global cues and the rupee's improving fortunes against the dollar helped spur a bout of short-covering on the eve of derivatives expiry.

Ø Global risk appetite was firm as most global markets extend their post Brexit recovery.

Ø Infrastructure output in India went up by 2.8% in May 2016, following an 8.5% surge in April 2016. It is the lowest growth rate in five months as output slowed mainly for electricity (4.6% from 14.7%) and refinery products (1.2% from 14.7%).

Ø The government's fiscal deficit for the first two months of the current financial year (April & May) was 42.9% of the Budget Estimate (BE) for 2016-17, despite slowing of capital expenditure.

Global Macro

Ø U.S. Initial Jobless Claims increased by 10,000 to 268,000 in the week ended June 25th compared with the previous week's revised level of 258,000. The figure came in slightly above market expectations of 267,000.

Ø U.K. GDP Annual Growth Rate advanced 2% in the first three months of 2016, unchanged from the second estimate.

Ø Eurozone Inflation Rate rise by a meager 0.1% on the year in June 2016, following a 0.1% drop in the previous month and beating market expectations, according to preliminary estimates. It was the first rise in five months.

Corporate Buzz

Ø Gayatri Projects bagged an INR 3.06bn order from the Centre for four-laning of a highway on the Andhra Pradesh-Tamil Nadu border. The company announced that the project is for rehabilitation and upgradation of NH-4 from km 133.36 to km 179.59.

Ø Alembic Pharmaceuticals' two API facilities at Panelav have been successfully inspected by the United States Food and Drug Administration (USFDA). The company did not receive any Form 483 observations.

Ø NTPC Ltd, recorded a 10% increase in power generation to 64.6bn units (BUs) in April-June quarter compared to the year-ago period.

Ø Bajaj Auto is preparing to launch more motorcycles from the 'V' platform through this fiscal and the next as part of a plan to grow market share in the executive commuter space.

Ø Torrent Pharmaceuticals Ltd (TPL) entered into a binding agreement to acquire the Vizag-based API manufacturing unit of Hyderabad-based Glochem Industries Ltd, along with a few drug master files (DMFs) as a going concern on slump sale basis.

Ø Quess Corp IPO issue subscribed 3.39 times. The category set aside for qualified institutional buyers (QIBs) was oversubscribed 2.8 times and retail investors portion witnessed an oversubscription of 9.81.

Outlook

Ø Benchmark indices are likely to open on a cautious note amidst mixed global cues.

Link

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Regards,

CSEC Research

{LONGTERMINVESTORS} Daily Currency Strategy (July 1): Sell US$INR in range of 68.05-68.15...

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 67.87. The July contract open interest was down 1.48% from the previous day

August contract open interest was up 3.21% from the previous day

We expect the US dollar to meet supply pressure on rallies against the rupee. Utilise pullbacks in the US$/INR July contract to sell

Intra-day strategies

1. Sell US$INR in the range of 68.05-68.15

For details, click on the link below

http://content.icicidirect.com/mailimages/Currency_outlook.pdf

Research Desk |ICICIdirect.com|

Email: research@icicidirect.com|

"Print this mail only if absolutely necessary. Save Paper. Save Trees."

{LONGTERMINVESTORS} INDIA DAYBOOK: Mahanagar Gas, Manufacturing PMI, Term Repo, FX

Today: Mahanagar Gas shares to debut; Nikkei India Manufacturing PMI; RBI to hold term repo auction; Road Transport Minister Nitin Gadkari, Civil Aviation Minister Ashok Gajapathi Raju to speak. WHAT TO WATCH:

India May key industries' output rises 2.8% Y/y
India May consumer prices for industrial workers rose 6.59%
India April-May budget deficit at INR2.29t or 43% of FY target
Indian Oil Corp. cuts gasoline price by INR0.89/liter, diesel

by INR0.49/liter

More Brexit uncertainty would affect emerging nations: Kim
RBI says Euro trade transactions to be settled outside ACU
Cyprus to be removed from notified jurisdiction for Indian tax
India notifies rules on computation of assets' fair market value
India to induct indigenous Tejas Combat plane
Bosch to consider share-buyback proposal
Kesar Terminals to consider stock split
State Bank of India to announce strategic initiative
Global funds +INR11.1b of local stocks; domestic funds - INR1.91b yday: Provisional data
India monsoon rain 1% above normal in week ended June 29: IMD

North India to see above normal rain in 1st week of July: IMD

MEDIA REPORTS:

Rajan said to see three-yr term as short for RBI governor: PTI
Jaiprakash said to get counter bid for cement assets: CNBC- TV18
Jet Airways said in talks with banks for $180m loan: Reuters
Essar said to mull sale of 405k B/D Gujarat refinery: Reuters
Ruia family to give up control of Essar Oil, Standard says
ICICI Bank starts debt recast for Jaiprakash Associates: ET
JPMorgan Chase to open three new branches in India: E. Times

ECONOMY:

10:30am: Nikkei India Manufacturing PMI for May; no ests. (Prior 50.7)

CENTRAL BANK:

RBI to conduct INR185b 14-day term repo auction today
India to auction INR1.85t of treasury bills in July-Sept.
RBI sets rate of interest on floating rate bonds 2017 at 7.25%
RBI to release of weekly FX, bank credit data
India states expected to borrow INR700b-750b in July-Sept.: RBI

GOVERNMENT:

9:30am: Road Transport Minister Nitin Gadkari at workshop on green highways project hosted by Yes Bank in New Delhi
10:30am: Chief Minister of Uttarakhand Harish Rawat will call on Social Justice Minister Thaawar Chand Gehlot in New Delhi
12:30pm: Civil Aviation Minister Ashok Gajapathi Raju to address media on regional connectivity in New Delhi
2:15pm: Defence Minister Manohar Parrikar at inaugural of Chartered Accountants' Day celebration in New Delhi
3pm: Rajiv Pratap Rudy, MoS for skill development, at prize distribution function in New Delhi

BOND SALES:

L&T Infra Finance seeks to raise INR1.5b via debenture
Shriram Transport plans to sell INR1b 2-part bond

CONFERENCES/CORPORATE EVENTS:

9:15am: Mahanagar Gas shr listing ceremony in Mumbai
10am: Comptroller and Auditor General of India Shashi Kant Sharma; RBI's N.S. Vishwanathan at ASSOCHAM conference on Financial & Corporate Frauds in New Delhi
AGMs:

IndusInd Bank

OFFERINGS:

Mahanagar Gas shr listing on NSE/BSE after IPO got 64.5 times demand in OFS by founders at INR421/shr
Quess Corp IPO gets demand for 3.4 times shrs offered, offer to close today
India said to appoint banks for up to $177m Cochin Shipyard IPO

MARKETS:

S&P 500 +1.4% to 2,098.86
Stoxx Europe 600 +1% to 329.88
MSCI Asia Pacific Index +0.4% to 129.41
Global Commodity Prices Overview

Gold spot +0.5% to $1,328.54/oz
Brent futures +0.6% to $50.02/bbl

SGX CNX Nifty Index futures for July delivery -0.1%

Sensex +1% to 26,999.72
Nifty +1% to 8,287.75

Yield on 7.59% bonds maturing Jan. 2026 at 7.45% on June 30
INR +0.2% to 67.5250/USD

EQUITY PREVIEW:

Gujarat NRE (GNC): Allots 24.5m shrs to IDBI Bank at INR11.03/shr
KPIT Technologies (KPIT): Expects about 4% drop in 1Q revenue, profitability
NTPC (NTPC): Says 1Q power generation up 10% y/y to 64.6b units: statement
RPG Life Sciences (RPGL): Co. says Sachin Raole resigned as Chief Financial Officer
Strides Shasun (STR): Says US FDA completed inspection of oral dosage facility

{LONGTERMINVESTORS} Veto Switchgears-What If The Optimism of HDFCsec Comes True

FYI

{LONGTERMINVESTORS} Edelweiss Technical Reflection (ETR): " New calendar year highs " (01-Jul-16-EDEL)

New calendar year highs

Nifty continues to climb upwards for a fifth session gaining 1% to close a shade under 8300 and thereby erased 'Brexit' weakness completely. The index has also scaled to a new calendar year high of 8308 on course for higher peaks. Being a derivatives expiry session, the trading volumes clocked significantly above average levels whereas the market breadth ended 2:1 in favor of advancers. Volatility (India VX) ended at 16.29%, off its recent peak and back in the comfort zone for the bulls. Yesterday's session marked the monthly and quarterly closes, both on the positive side indicating a medium-term uptrend. Momentum oscillators have turned back up on hourly and daily chart thus suggesting the sharp rally is likely to extend further. With bulls powering above the previous peak of 8295 into 8300 territory, it is likely the rally will stretch further up to 8360 to close an earlier bearish gap and possibly extend up to 8490 with bouts of consolidation. Meanwhile, immediate downside support is not pegged at the 21 DEMA of 8155.

A secular uptrend was seen among sectoral indices led by gains in Realty (+2.4%), Power (+2.2%) and Telecom (+2.1%); whereas relative underperformance was seen in shares from IT (+0.45%), Healthcare (+0.55%) and Oil & Gas (+0.70%) indexes. Mid-cap and Small-cap indices continued to outperform their frontline peer indices with gains of +1.26% and +0.94% respectively.

Bullish Setups: ITC, CCRI, CIPLA, IGL, MM, HEXW

Bearish Setups: DABUR, HCLT, ALBK, IDFC

Nifty Index
Bloomberg Code	NIFTY Index
Spot Price	8287
Resistance 1	8336
Resistance 2	8360
Support 1	8242
Support 2	8210
Nifty 20 SDMA	8190
Nifty 50 SDMA	8015
Nifty 200 SDMA	7794
Adv : Dec [NSE]	1040 : 528
Turnover Rs Crs. BSE+NSE cash	29,734

Oscillators	Comments
RSI	Bullish
MACD	Bearish
Stochastic	Bullish
DMI & ADX	Bullish & Non Trending

* OB: Over Bought

OS: Over Sold

Edelweiss Technical Reflection (ETR): " New calendar year highs " (01-Jul-16-EDEL)

Regards,

Tejas J. Shah +91 22 4063 5534

tejasj.shah@edelweissfin.com

Edelweiss Research is also available on Bloomberg EDEL <Go>, Thomson First Call, Reuters and Factset. Please write to us in case you need any assistance in this respect.

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