Sunday, December 15, 2019

GBPINR : Fundamental View : 16.12.2019

GBPINR : Fundamental View : 16.12.2019

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* GBP increased against USD by 2.49 percent last week while GBPINR depreciated by 1.59 percent.

* The current UK election has been won by the Conservative party with a big majority and Boris Johnson is likely to remain as the UK PM. Meanwhile, GDP data from UK came in at 0 percent against market expectations of 0.1 percent. Manufacturing production data from UK came in at 0.2 percent for Nov’19 against market expectations of 0.1 percent.

* GBPINR is expected to move sideways in today’s session.

EURINR : Fundamental View : 16.12.2019

EURINR : Fundamental View : 16.12.2019

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* EURINR appreciated by 1 percent last week while EURINR depreciated by 0.13 percent the same time frame.

* ECB kept its rates unchanged on Thursday following new President Christine Lagarde’s first monetary policy meeting. The ECB’s statement reiterated that rates will stay at the current level or
lower until the central bank has seen the inflation outlook “robustly converge” to a level close to but below 0.2% and that underlying inflation has remained consistently convergent with that level. It
also confirmed that net asset purchases of monthly 20 billion euros that this will continue to run “as long as necessary” to reinforce the accommodative policy stance.

* EURINR is expected to appreciate in today’s session

USDINR : Fundamental View : 16.12.2019

USDINR : Fundamental View : 16.12.2019

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* Indian Rupee appreciated by 0.9 percent last week while the Dollar index decreased by 0.89 percent during the same time frame. CPI inflation from India for Nov’19 came in at 5.54 percent against
market expectations of 5.26%.

* The US FED, announced its latest monetary policy decision, and as expected, policymakers kept rates on hold. The FOMC funds rate was left at 1.50%-1.75. The accompanying statement showed that policymakers would continue to monitor data for the economic outlook “including global developments and muted inflation pressures.” On the trade war front, President Donald Trump
tweeted that the United States was close to a deal ahead of Sunday, when a new round of tariffs on Chinese goods has been set to go into effect.

* USDINR is expected to move sideways in today’s session.

EURINR : Technical View : 16.12.2019

EURINR : Technical View : 16.12.2019

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 The EURINR closed with the gain of 0.49% during its previous trading session.

 Moreover, the price has pulled back from its Ichimoku Cloud, which adds support in in the counter .

 Also, the price has closed above its 200 days EMAs, which provides positive support to the counter.

 Additionally, momentum indicator Stochastic (6) has shown a positive crossover which signals power to the bulls .

 So based on the above technical structure, we expect a bullish move in EURINR towards 79.56 level.

GBPINR : Technical View : 16.12.2019

GBPINR : Technical View : 16.12.2019

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 In the last trading session, GBPINR glittered and closed in a positive note by 1.68%.

 Also the pair has been trading above its Parabolic SAR, which indicates positive momentum.

 Moreover, the pair has sustained above its 20*50 EMAs which signalsstrength in the counter.

 Additionally, momentum indicator MACD has shown a positive crossover, which indicates bullishness.

 So based on the above technical structure, we expect bullish move in GBPINR future towards 95.06 level.

JPYINR : Technical View : 16.12.2019

JPYINR : Technical View : 16.12.2019

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 During it’s previous session JPYINR weakened and closed in a negative note by 0.86%

 Also, the pair has broken down out of its Descending Triangle Pattern, which indicates that the bears are in power.

 Furthermore, the price has closed below its 200 EMA, which is negative for the counter.

 Additionally, momentum indicator MACD has shown a negative crossover, which indicates bearishness.

 So based on the above technical structure, we expect bearish move in JPYINR towards 65.25 level.

USDINR : Technical View : 16.12.2019

USDINR : Technical View : 16.12.2019

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 The USDINR gapped down, but filled the gap witnessing support from lower levels during the last session.

 Moreover, on the daily chart, the price has taken support of the 200 EMA which signifies bullish strength in the counter.

 The price also taken support of the lower Bollinger Band and moved up, which indicates power to the bulls.

 Additionally, momentum indicator Stochastic (6) has shown a positive crossover, which indicates bullishness.

 Hence, we expect bullish move in USDINR future towards 71.11 level. 

Today's Stock News - 16.12.2019: 09.00 Am

Today's Stock News - 16.12.2019: 09.00 Am
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* ADANI GREEN ENERGY: After selling 205 MW of its operational solar energy portfolio to the Adani Group, the Essel Group has reached an agreement to sell the remaining 480 MW--currently under construction--to the company.

* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Incorporated Adani Pipelines, a fully-owned subsidiary, on Dec 12 with an authorised share capital of 500,000 rupees.
- The company is preparing for a fresh issue in the new year.

* ADANI POWER: The company is looking to refinance existing loans to reduce cost of debt. It is likely to explore international wholesale banking options.

* ADANI TRANSMISSION: The company has received a letter of intent from Maharashtra State Electricity Transmission Co for a 400 kV project in Mumbai, after it bid under tariff-based competitive bidding.

* ASIAN OILFIELD SERVICES: The company has received a letter of award worth 6.4 bln rupees for acquisition of two-dimensional and three-dimensional seismic data of oil blocks in Rajasthan and Gujarat from an oil and gas company.
- Has received a letter of award worth 6.4 bln rupees for acquisition of two-dimensional and threedimensional seismic data of oil blocks in Rajasthan and Gujarat from an oil and gas company.

* ASTER DM HEALTHCARE: The company has decided to shut the operations of its loss-making clinics in Philippines by Dec 31.

* AU SMALL FINANCE BANK: Singapore-based Temasek Holding, via its subsidiary Camas
Investments, has invested 5.25 bln rupees in the bank by converting 10.1 mln warrants.

* BEML: The Centre is likely to sell 28% of its stake in the company through strategic disinvestment and retain 26% after the dilution of its shareholding in the public sector undertaking, a senior company official said.

* BGR ENERGY SYSTEMS: The company got a contract of 44.4 bln rupees from Tamil Nadu Generation and Distribution Corp for expanding a 1x660 MW Supercritical Ennore Thermal Power Station under an engineering, procurement, and construction basis.

* CG POWER AND INDUSTRIAL SOLUTIONS: The BSE and the National Stock Exchange have
imposed fine on the company after it informed that it expects a delay in submission of financial results for Jul-Sep and Apr-Sep.
- Citing regular board approvals for various inter-corporate loans, former non-executive chairman
Gautam Thapar has refuted allegations of fund misuse amid alleged governance lapses coming under the regulatory scanner, according to documents submitted by him to the government.

* COFFEE DAY ENTERPRISES: YES BANK is learnt to have softened its stance and decided to render the "no objection" to the company's decision to sell its Global Village Technology Park to Blackstone.

* DHANUKA AGRITECH: The company's promoter pledged 6.40% stake to YES Bank on Thursday.

* ERIS LIFESCIENCES: The company won't have to pay tax on buyback of shares announced on Jul 5, according to the Taxation Laws (Amendment) Act, 2019.

* FUTURE SUPPLY CHAIN SOLUTIONS: The company has completed the sale of Vulcan Express to Opportune Trading.

* GENERAL INSURANCE CORP OF INDIA: The company has settled with SEBI a case of alleged
violation of insider trading norms by paying 12.3 mln rupees towards settlement charge.

* GMR INFRASTRUCTURE: Three major Indian airlines have opposed the proposed 80-bln-rupee
investment by a consortium of Tata Group and Singapore's sovereign fund GIC in GMR Airports.

* GRANULES INDIA: The company will sell its stake in joint venture Granules Biocause Pharmaceuticals Co in China to partner Hubei Biocause Heilen Pharmaceutical Co for 109 mln yuan (around 1.1 bln rupees).

* GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS: Anil Mukim has been appointed as chairman and director of the company.

* HESTER BIOSCIENCES: The board will meet on Wednesday to consider raising funds by way of equity shares, or equity-linked securities or securities convertible into equity shares through qualified institutional placement or preferential allotment.

* HINDUSTAN UNILEVER: GlaxoSmithKline Plc is exploring its exit from the company, early in the New Year.

* INDIAN ENERGY EXCHANGE: The exchange is hopeful of being able to introduce a trading platform for wind and solar power, early next fiscal.

* INDUSIND BANK: Noida-based real estate developer Logix Group has raised 5.4 bln rupees from the bank through a lease rental discounting transaction on two of its commercial office space projects.

* JSW STEEL: National Company Law Appellate Tribunal has approved the company's resolution plan for VARDHMAN INDUSTRIES.

* L&T FIN HOLDINGS: The committee of directors will meet on Wednesday to approve raising funds through issue of cumulative compulsorily redeemable non-convertible preference shares on a private placement basis.

* MAHINDRA & MAHINDRA: Mahindra-Ford joint venture will not cross-badge products for the
domestic market, a top executive of the company has said.

* MANAPPURAM FINANCE: Mutual funds are contesting insider trading charges by Securities and
Exchange Board of India against them for trades in the company.

* MINDA INDUSTRIES: The company has completed acquisition of Germany-based Delvis GmBH and its two wholly-owned subsidiaries--Delvis Products and Delvis Solutions. Delvis GmBH has now become a subsidiary of the company.

* NLC INDIA: Is planning to invest over 170 bln rupees for its thermal power projects and has embarked upon afforestation programme inside and outside the coal mining area in Odisha.

* PI INDUSTRIES: The company has incorporated a wholly-owned subsidiary Jivagro for agrochemicals, including insecticides, fungicides, herbicides and other speciality chemicals business.

* POWER GRID CORP OF INDIA: The company has acquired Rampur Sambhal Transco, a special
purpose vehicle, from REC Transmission Projects Co for 70.6 mln rupees.

* PTC INDIA FINANCIAL SERVICES: Has received 1.45 bln rupees as part of resolution of its stressed loan account in the thermal power segment.

* PUNJAB NATIONAL BANK: The bank's FY19-end gross bad loan divergence was at 26.2 bln rupees.

* PUNJAB & SIND BANK: Raised its three-year marginal cost of funds-based lending rates by 10 basis points to 8.90%.

* RELIANCE HOME FINANCE: Axis Trustee Services has sold 0.6% stake or 2.9 mln shares of the
company at 2.75 rupees on the National Stock Exchange in a bulk deal.
- About 20,000 debenture holders in the company--including individuals, mutual funds and
retirement bodies--are set to take the first hit on their investments as the full repayments of about 30 bln rupees fall due on Jan 3, with little hope of recovery.

* RELIANCE INDUSTRIES: Wholly-owned subsidiary Reliance Strategic Business Ventures Ltd has acquired 51.78% stake in Asteria Aerospace Pvt Ltd for 231.2 mln rupees, the company said in an exchange filing.

* SPICEJET: Air India's Maintenance, Repair and Overhaul arm, Air India Engineering Services, has signed a pan-India contract for maintenance of the company's aircraft.

* STATE BANK OF INDIA: The Competition Commission of India has approved investments by Napean Opportunities LLP and Honey Wheat Investment Ltd in SBI General Insurance Co.
- Global steel giant ArcelorMittal on Friday transferred 400 bln rupees to State Bank of India, the
lead banker, for takeover of the debt-ridden Essar Steel.

* STEEL AUTHORITY OF INDIA: The company has left the prices of its steel bars largely unchanged for December compared with the previous month.

* SUN PHARMACEUTICAL INDUSTRIES: The US Food and Drug Administration has issued a Form 483 with eight observations after it conducted a good manufacturing practice inspection of the company's Halol facility in Gujarat.
- The company, ABBOTT INDIA, ASTRAZENECA PHARMA INDIA, LUPIN and other big drugmakers have come under the scanner of India's drug pricing watchdog for excluding products from the price control regime without first applying for such an exemption.

* TATA MOTORS: Is not looking to reduce workforce due to the ongoing slowdown in the domestic
market, as it expects things to get better amid a wave of new products lined up for the launch over the next few months, a top company official has said.

* TATA POWER: Peak power demand in Delhi in the winter season is expected to touch a record high of 4,800 MW, of which 1,500 MW demand from north and north-west parts of Delhi will be met by Tata Power Delhi Distribution Ltd.

* UNITED BANK OF INDIA: The bank has cut its marginal cost of funds based lending rates on six-month and one-year tenures by 5 basis points each.

* UNITED BREWERIES: The company has received initial observations in an alleged case of cartelisation and manipulation of beer prices involving the company and other beer manufacturers, that is being probed by the Director General of the Competition Commission of India.

* UPL: Has received environment clearance from the government for its 3.53-bln-rupee pesticide unit
expansion project at Ankleshwar, Gujarat.

* VADILAL INDUSTRIES: Appointed Arpit Patel and Associates as the statutory auditor to conduct an independent inquiry into the issues raised by former statutory auditor Deloitte Haskins and Sells LLP.

* VARDHMAN TEXTILES: The company has decided to withdraw a scheme of merger of its subsidiaries-- VMT Spinning Co, VTL Investments, Vardhman Nisshinbo Garments Co Ltd, and Vardhman Acrylics-- with itself.

* YES BANK: The bank expects the third quarter of the current financial year to remain subdued but sees improvement in revenue in the March quarter on the back of government measures.

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Today's Sector News - 16.12.2019: 09.00 Am

Today's Sector News - 16.12.2019: 09.00 Am
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* AVIATION: Indian airlines will post a combined loss of $600 mln and induct fewer aircraft in the current financial year, aviation consultancy CAPA said in its latest report.

* BANKING: The central board of the Reserve Bank of India discussed issues related to urban co-operative banks and non-banking financial companies.

* COAL: The government has allocated two coking coal mines to state-run companies, which will reduce the steel industry's dependence on imports.

* ECONOMY: Finance Minister Nirmala Sitharaman will present the Union Budget for 2020-21(Apr-Mar) on Feb 1 with possible big-ticket announcements based on requirements voiced by the industry, in a bid to pull India out of its economic slowdown.

* PHARMA: The National Pharmaceutical Pricing Authority has allowed an increase in the maximum retail prices of 21 drugs, which are under price control, by as much as 50%.

* TAXATION: Strained on its finances, the government will be clear about its tax revenue position in the next few weeks, Revenue Secretary Ajay Bhushan Pandey said

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Today Commodity Pivot Table : 16.12.2019

Today Commodity Pivot Table : 16.12.2019


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Diamond : Technical View : 16.12.2019

Diamond : Technical View : 16.12.2019

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On the daily chart, the price closed in a positive note during the last session.

But, It has sustained below the 21*50 days SMA’s and Parabolic SAR, which signifies power to the bears.

Furthermore, momentum indicator MACD has breached below the zero level which is negative for the counter.

Momentum indicator RSI has crossed below 50 level, which indicates bearishness.

As per the above technical structure; we expect bearish move in the counter

Crudeoil : Technical View : 16.12.2019

Crudeoil : Technical View : 16.12.2019

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On the daily chart, the price gained 0.90% in the last session.

Moreover, the price has been trading above its Parabolic SAR, which indicates bullishness in the counter.

Furthermore, the price has also sustained above the 200 EMA which suggest rising prices.

In addition, the counter’s Heikin Ashi candle has formed a strong green candle which signals power to the bulls.

As per the above technical structure; we expect bullish move in the counter.

Copper : Technical View : 16.12.2019

Copper : Technical View : 16.12.2019

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On the daily chart, the price faced pressure and fell by 0.53% during the last session.

But, the price has been trading above its upward sloping trendline, which confirms bullish power in the counter.

Furthermore, the price has sustained above the 200 day's EMA, which indicates control in the hands of the bulls.

Additionally, Heikin Ashi candle of the counter has formed a series of strong green candles which signals positive momentum.

As per the above technical structure; we expect bullish move in the counter.

Gold : Technical View : 16.12.2019

Gold : Technical View : 16.12.2019

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On the daily chart, the price has closed on a positive note and rose by 0.51%

But, the price has sustained below its Ichimoku Cloud, which is bearish for the counter.

Furthermore, the price has sustained below the 21*50 days EMA’s, which signals negative momentum in the counter.

Additionally, RSI(14) has sustained below the 50 level, which suggests pressure in the counter for the near term.

As per the above technical structure; we expect a bearish move in the counter

Nifty-Sensex-Pre Market View - 16.12.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 16.12.2019: 09.00 Am
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Pre-Session: Flat opening on cards for Sensex, Nifty today
16/12/2019 08:31
Indian benchmarks are expected to start the day on flat note on Monday. The positive momentum from the 'phase one' of US-China trade deal and hopes of a speedy Brexit is likely to keep the investor sentiment up.

Further, the wholesale price index (WPI)-based inflation (YoY) for November 2019 is slated to be released later in the day. Wholesale inflation in October crashed to a 40-month low of 0.16 per cent, down from 0.3 per cent rise in September. Bank stocks are likely to remain in focus today as the State Bank of India (SBI), the lead banker of the bankrupt Essar Steel, is likely to settle dues of other lenders as it received Rs 40,000 crore on Friday from ArcelorMittal, which is going to takeover the company bringing to an end to the much-prolonged resolution process.

On Friday, the 30-share benchmark index ended at 41009.71 up by 428 points or by 1.05 % and then NSE Nifty was at 12086.7 up by 114.9 points.


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