Oil prices edge up on expected Opec output cuts, but swelling US supply caps gains

Oil prices firmed on Friday as traders expected Opec and Russia to agree on production cuts next week, although swelling US supplies kept markets in check. 

US West Texas Intermediate (WTI) crude futures were at $51.55 per barrel at 0203 GMT, up 10 cents, or 0.2 per cent from their last settlement. 

International Brent crude oil futures were up 15 cents, or 0.3 per cent, at $59.66 per barrel. 

Despite the firmer prices, crude oil has lost almost a third in value since early October because of an emerging supply glut following a global surge in production, including from the United States, Russia and by the Middle East-dominated Organization of the Petroleum Exporting Countries (Opec). 

To rein in the glut, ANZ bank said on Friday that Opec and its main partner Russia were "moving closer to an agreement around further production cuts". 

Opec and Russia will gather on December 6 and 7 in Vienna to discuss output policy. 

Before that, the world's top three producers - the United States, Russia and Saudi Arabia - will be part of a meeting of the Group of 20 industrialised nations in Buenos Aires, Argentina, this weekend. 

Part of the glut is swelling supply in the United States, where commercial crude oil inventories rose by 3.6 million barrels in the week to November 23 to 450.49 million barrels, according to the Energy Information Administration (EIA). Production remained at a record 11.7 million barrels per day (bpd).

Crude reserves increased 6.4 billion barrels, or 19.5 per cent, to 39.2 billion barrels at year-end 2017, marginally higher than the previous record of 39 billion barrels set in 1970, the EIA said.

"With fears over excessive supply and worries about falling demand the primary themes weighing on oil markets, the outlook for Brent Crude and WTI remains bearish," said Lukman Otunuga, analyst at futures brokerage FXTM.

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Source: Economictimes

Gold prices flat ahead of Trump-Xi meet at G20 summit

BENGALURU: Gold prices were flat early on Friday as the dollar steadied ahead of the G20 meet in Argentina this weekend, where US and Chinese leaders are scheduled to discuss trade matters after months of tensions. 

Fundamentals 

Spot gold was flat at $1,223.77 per ounce at 0126 GMT. Prices had hit a one-week high of $1,228.96 per ounce on Thursday.

Palladium was up about 0.2 per cent at $1,183.20 per ounce after hitting a record high of $1,190 earlier in the session. The metal was on track to mark its best month since December 2017.

The dollar index, which measures the greenback against a basket of six major currencies, traded marginally higher at 96.79 on Friday. 

Share markets ticked slightly lower in early Asian trade as investors looked to the G20 summit. 

US President Donald Trump sent mixed signals on Thursday about the prospects for a trade deal with China, saying an agreement was close but he was not sure he wanted one, just as he left for Argentina for a meeting with President Xi Jinping.

US trade restrictions have hit a total of $369 billion of Chinese exports this year, much higher than the $278 billion of goods impacted by tariffs alone, a regular monitoring report of G20 trade restrictions said on Thursday.

Almost all Federal Reserve officials at their last meeting agreed another interest rate increase was "likely to be warranted fairly soon," but also opened debate on when to pause further hikes and how to relay those plans to the public. 

US President Donald Trump on Thursday abruptly cancelled a planned meeting with Russian President Vladimir Putin in Argentina, registering his disapproval of Russia's treatment of Ukraine and casting new uncertainty over US-Russian ties.

A group of senior British lawmakers on Thursday put forward an amendment to block Prime Minister Theresa May's EU withdrawal deal and to rule out a no-deal Brexit when it comes before parliament for a crucial vote next month.

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Source: Ecnomictimes

Sugar falls 5.5% on muted domestic and export demand

Sugar NSE 7.07 % prices at mill gates have declined by as much as 5.5 per cent in the past one month due to subdued domestic and export demand, with some grades of the sweetener trading at the government-set minimum selling price of Rs 29 a kg on Wednesday.

"Price of the S-30 grade sugar has fallen to Rs 29 per kg in Maharashtra this week as demand is tepid. Prices were ruling high before Diwali due to festival season demand," said Ashok Jain, president of the Bombay Sugar Merchants' Association. 

The NCDEX spot sugar in the Delhi market has dropped by more than 4 per cent in a month to Rs 31.15 a kg on Wednesday. The spot price in Maharashtra’s Kolhapur has eased to Rs 29, a fall of 5.5 per cent compared with Rs 30.72 on October 29. 

Demand has declined as winter is setting in when sales of ice-cream and cold drinks, among the largest sugar consuming segments, reduce, traders said. Another reason for the downward trend in prices is the slow pace of exports. 

India has a target to export 50 lakh tonnes of sugar in 2018-19. But Jain said shipments, especially of white sugar, were slow. “Mills will have to focus on raw sugar to boost exports," he added.

India is looking at a surplus sugar production in 2018-19, though the Indian Sugar MillsNSE 1.47 % Association has reduced its production estimate by 11.26 per cent to 315 lakh tonnes.

The country’s annual sugar consumption is 255-260 lakh tonnes. Its output in 2017-18 was 322.5 lakh tonnes. 

“Sugar millers from Maharashtra are not coming forward to sign export deals for various reasons like sugar being mortgaged with the lending banks and the possibility of a fall in sugar production,” said Vijay Autade, an independent sugar expert from Maharashtra.

The industry is waiting for big government-to-government sugar export deals, especially with countries like China, Thailand and Malaysia. Indian sugar industry sources said a Chinese delegation would likely visit India next month to explore sugar imports from here, even as China is engaged in a trade war with the US, one of its suppliers.

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Source: Economictimes

Gold Rate Today: Gold, silver up in morning trade

NEW DELHI: Bullion was trading with a tepid gain in the domestic futures market on Friday. 

MCX Gold was trading at Rs 30,209 per 10 grams, up by Rs 5 around 10:45 am. The MCX Silver was trading Rs 24 higher at Rs 35,638 per kilo at that time. 

"MCX gold is expected to quote in the range of Rs 30,050 and Rs 30,350 today," said Motilal OswalNSE -1.63 % Securities. 

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Source: Economictimes

कमोडिटी बाजार में आज क्या हो रणनीति

डॉलर के मुकाबले रुपये में मजबूती बढ़ गई है और एक डॉलर की कीमत 69.80 रुपये के नीचे आ गई है। रुपया 3 महीने की ऊंचाई पर है और पिछले 1.5 महीने में करीब 6.5 फीसदी की मजबूती आ चुकी है। दरअसल कच्चा तेल काफी सस्ता हो गया है। अमेरिका में उत्पादन बढ़ने से कीमतों पर दबाव है। पिछले 1.5 महीने में क्रूड का दाम करीब 35 फीसदी फिसल चुका है। हालांकि अगले हफ्ते ओपेक की बैठक से पहले आज क्रूड पिछले 13 महीने के निचले स्तर से हल्की रिकवरी दिखा रहा है। लेकिन इस रिकवरी के बावजूद ब्रेंट 60 डॉलर के नीचे है।

उधर अमेरिका में ब्याज दरें बढ़ने की उम्मीदों के बीच सोना दायरे में फंस गया है। चांदी भी सुस्त है। लेकिन घरेलू बाजार में मजबूत रुपए से सोना जहां 3 महीने का निचला स्तर छू चका है। वहीं चांदी 16 महीने के निचले स्तर पर है। इस बीच जी20 की बैठक पर नजर लगाए बेस मेटल मार्केट सुस्त पड़ गया है। चीन में जहां एल्युमिनियम का दाम पिछले 2 साल के निचले स्तर पर लुढ़क गया है। वहीं लंदन मेटल एक्सचेंज पर कॉपर और दूसरे मेटल दायरे में है।

एंजेल कमोडिटीज की निवेश सलाह


एनसीडीईएक्स सोया तेल (दिसंबर वायदा): खरीदें - 714/715 रुपये, स्टॉपलॉस - 710 रुपये, लक्ष्य - 724/726 रुपये


एनसीडीईएक्स जीरा (दिसंबर वायदा): बेचें - 19200/19250 रुपये, स्टॉपलॉस - 19600 रुपये, लक्ष्य - 18600/18550 रुपये


एनसीडीईएक्स ग्वार सीड (दिसंबर वायदा): खरीदें - 4220 रुपये, स्टॉपलॉस - 4140 रुपये, लक्ष्य - 4350 रुपये
  
टेक्निकल एरा की निवेश सलाह


एमसीएक्स निकेल: खरीदें - 760 रुपये, स्टॉपलॉस - 754 रुपये, लक्ष्य - 780 रुपये


एमसीएक्स सोना: खरीदें - 30125 रुपये, स्टॉपलॉस - 29975 रुपये, लक्ष्य - 30375 रुपये

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Source: Moneycontrol

Vedanta seeks US oil services consortium for new India blocks

India's Vedanta Resources wants US oilfield services companies to set up consortia to help develop the 41 blocks in India acquired this year by its Cairn Oil & Gas unit, the company's Chairman said on November 29.

Vedanta Chairman Anil Agarwal and Cairn Chief Executive Sudhir Mathur met with executives from 70 services companies this week in Houston to encourage the firms to organise consortia to compete for contracts, Agarwal said in a briefing.

"They're very encouraged by the 41 blocks and they're looking to work together," Agarwal said.

The company won 41 of the 55 blocks auctioned under India's first licensing round for small discovered fields earlier this year. It expects the blocks will eventually produce 500,000 barrels per day of oil equivalent, said Mathur.

Some of the acquired blocks are near existing Cairn fields and could be producing as early as 12 months to 18 months after contracts are awarded, he said.

Vedanta hopes to receive offers from companies including Schlumberger NV, Halliburton Co and General Electric's Baker Hughes by the first quarter of next year, he said.

Vedanta hopes to speed up development of the blocks by getting the oilfield firms to organise consortia that would deliver integrated services. It is hoping to get "at least four" groups to submit bids and will offer incentives to the consortia that can beat production targets, he said.

"If we have one unified team, the decision-making can be faster," said Mathur. "It will be better to work in a joint fashion."

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Buy Berger Paints, target Rs 350: Aditya Agarwal

Berger Paints has an inverse relationship with Crude Oil which has corrected sharply in the past few weeks. The impact of such development was seen during the recent past in the counter.

Off late, the stock has consolidated in a range and the daily chart resembles a formation of ‘Bullish Pennant’. The breakout of the said pattern will be seen if the stock starts trading above Rs 324.

In that case, the stock can retest its recent high of Rs 350. On the lower side, the level of Rs 310 will be a good support and below that our long view will be negated and traders should exit from their long positions.

Disclaimer: The author Head of Technical Research, Way2Wealth Brokers Pvt. Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Yes Bank climbs 7% after management clarifies on ownership in Morgan Credits

Yes Bank shares rebound on Friday for the first time in last six consecutive sessions, rising nearly 7 percent in morning after the management clarified its stance on ownership in Morgan Credits, exposure to developers and current financial situation of the lender.

The stock seems to be oversold after falling nearly 19 percent in the last five straight sessions to hit the lowest level since March 2, 2016. It also seems to have priced in negatives related to downgrades by ICRA and its parent firm Moody's.

The scrip was quoting at Rs 170.65, up Rs 10.20, or 6.36 percent on the BSE, at 10:06 hours IST.

Rajat Monga, Senior Group President at Yes Bank told CNBC-TV18 that MD & CEO, Rana Kapoor doesn't have any ownership in Morgan Credits or Yes Capital.

Recently, a media report said Yes Bank chief Rana Kapoor's investment firms borrowed money from mutual funds and invested it as equity in a finance company. But in a clarification sought by stock exchanges, the bank said that it is not involved in any way with these companies.

Morgan Credits Pvt Ltd (MCPL) and Yes Capital (I) Pvt Ltd (YCPL) are holding companies owned 100 percent by Radha K Khanna, Raakhe K Tandon and Roshini Kapoor (Rana Kapoor's daughters). Both these promoter shareholders of Yes Bank said they had raised some funds to meet their growth objectives and have no commercial dealings with the private sector lender.

On the stake held by Rana Kapoor, Monga said he doesn't think there is any pressure on Kapoor to sell his stake.

Total promoter shareholding in the bank stands at 19.91 percent as per latest data available on the exchanges, of which Rana Kapoor holds 4.33 percent and Madhu Kapur 7.59 percent in the lender.

Yes Capital India, Morgan Credits and Mags Finvest combined have 7.99 percent shareholding in the bank.

Monga said overall bank's exposure to housing finance companies stood at 3.2 percent, of which 90 percent is rated A or better. "We have exposure to developers at 5.6 percent with no SMA-2 loans in this segment."

Reports about Rana Kapoor eyeing chairman seat has been taken out of context, he said, adding chairman post at all private banks is held by 'independent' individuals.

He said the board is looking to appoint a chairperson & finding a new CEO. So the issue of capital raising should be taken up after new CEO appointment.

Yes Bank's board of directors will be meeting on December 13 to recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors.

Total capital adequacy of the bank right now is at 17 percent and capital stood at Rs 51,000 crore against Rs 200 crore 15 years ago, Monga said.

Analysts raised concerned over bank's divergence reported for FY16 and FY17, which was higher at Rs 4,176.7 crore and Rs 6355.2 crore respectively.

"Divergence has not been a risk issue; it is more of a compliance issue," Monga said, adding divergence audit took place in Q2FY19 and it does not have the findings yet.

He said asset quality in second half of FY19 will be better than first half barring IL&FS exposure.

ICRA on Wednesday downgraded Yes Bank's long-term ratings after its parent company Moody's downgraded the bank citing poor corporate governance on Tuesday.

"The rating downgrade considers the series of resignations from the board of directors (Ashok Chawla, Vasant Gujarathi, and Rentala Chandrashekhar who quit in November), which raises concerns on corporate governance at the bank," ICRA said.

The agency also warned of further downgrades if there are adverse developments on any of the above factors and added stability in deposit base is a key monitorable. The capital cushion for the bank has been "weakening" vis-a-vis the regulatory requirements, it added.

The bank has been facing troubles since mid-September, when the RBI curtailed the term of its chief executive Rana Kapoor, who is also among the promoters. Since then, the stock lost more than 60 percent of its value.

On Tuesday, Moody's Investors Service downgraded the bank's ratings to non-investment grade and changed outlook to negative from stable.

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AT&T commits to cutting up to $20 billion in debt in 2019

AT&T Inc said on November 29 it has committed to cutting its heavy debt load next year through a variety of measures, including a review of all of its non-core assets such as its stake in streaming video company Hulu for possible sale.

The second-largest US wireless carrier by subscribers said at an analyst meeting in New York that it will pay down $18 billion to $20 billion of its debt by the end of 2019, and will generate up to $8 billion in cash in part through the sale of some assets.

Shares of AT&T, which rose 1 percent in after-hours trade during the presentation, are down 21 percent so far this year as investors have been concerned about its heavy debt - which totaled $183 billion as of Sept. 30 - after its purchase of media company Time Warner.

The company said it expects 2019 free-cash flow of about $26 billion, above analysts' average estimate of $24.84 billion, according to IBES data from Refinitiv.

AT&T said the growth in free cash flow will help achieve its end-of-year net-debt-to-adjusted-EBITDA ratio of 2.5 times range.

AT&T expects 2019 adjusted earnings per share to grow in low single digits, while analysts are expecting a 1.7 percent rise.

The company also gave fresh details about a new streaming rival to Netflix that is expected to be launched by the end of 2019 by WarnerMedia, the new segment that includes the Turner networks and premium channel HBO.

The new product will include three tiers of service: an entry-level package focused on movies, a premium tier with original programming and the highest tier will include licensed content from other providers.

AT&T said it hopes to eventually lure enough subscribers to make up for the continuous decline in linear video customers from its satellite TV company DirecTV. The company said it expects a decline in video subscribers in 2019 consistent with the pace of decrease in the third quarter of 2018.

AT&T lost more satellite TV customers than Wall Street expected in the third quarter, shedding a net 359,000 subscribers, as viewers move to services like Netflix and Hulu.

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Stock picks of the day: Near-term resistance at 10,990–11,070 for Nifty

After taking a sharp U-turn during the second half of the trading session at the beginning of the week on Monday, Nifty saw a significant rally during the rest of the week.

Thursday’s trading session certainly proved the strong presence of bull as Nifty opened higher with a gap and saw mammoth buying interest throughout the session.

In that optimism, the index convincingly closed above the daily 200-DMA & 89-EMA, respectively, which was earlier acting as a strong wall of resistance.

On daily charts, the 9-45 EMA has signaled positive crossover during Wednesday and the impact of such development seen on Thursday.

The daily Relative Strength Index (RSI) entered above 60 levels. Also, the unfilled gap formed on October 4, 2018 got filled during Thursday’s trading session.

At this juncture, Thursday’s high of 10,883.05 coincided with the 50% retracement of its entire fall from the top of 11,760.20 to the bottom of 10,004.55, hence possibility of some profit booking can’t be ruled out.

In that scenario, 10,780–10,700 will act as an immediate support whereas on the higher side, 10,990–11,070 will be a near-term resistance for the index.

Here is a list of top three stocks which could give 9-10% return in the next 1 month:

Dr Reddy’s Laboratories: Buy around 2650 – 2625| LTP: Rs 2652| Target: Rs 2900| Stop Loss: Rs 2520| Return 9%

After confirming its breakout from broad “Descending Triangle’ pattern, the stock consolidated in a range and formed a triangle pattern on the daily chart.

During the last week, the stock confirmed its breakout from symmetrical triangle pattern, however, the follow-up buying was missing, as a result, it saw minor pullback during the current week.

On Thursday, the stock resumed its up move and eventually ended at highest point post-July 27, 2017. The daily RSI (14) entered inside the 60 level which supports our hypothesis.

Hence, we believe that the impact of Descending Triangle pattern will be seen in the coming weeks; therefore, we recommend traders to buy this stock in the range of 2650 to 2625 with a price target of 2900 and a stop loss placed below 2520.

Berger Paints: Buy above 324| LTP: Rs 319| Target: Rs 350| Stop Loss: Rs 310| Return 10%

Berger Paints has an inverse relationship with Crude Oil which has corrected sharply in the past few weeks. The impact of such development was seen during the recent past in the counter.

Off late, the stock has consolidated in a range and the daily chart resembles a formation of ‘Bullish Pennant’. The breakout of the said pattern will be seen if the stock starts trading above 324.

In that case, the stock can retest its recent high of 350. On the lower side, the level of Rs 310 will be a good support and below that our long view will be negated and traders should exit from their long positions.

Century Textiles: Sell below Rs 889| LTP: Rs 894| Target: Rs 840 – 810| Stop Loss: Rs 927| Return 9.4%

Looking at the daily chart, the stock has seen a sharp rally from the bottom of around 718 and rallied till 927. Subsequently, the bullish momentum exhausted and we are seeing a formation of Head & Shoulder pattern on the hourly chart.

The said pattern will be activated if stock breaches and sustains below 889. In that case, the stock is likely to correct till 840 – 810 levels respectively.

The weekly Lower Top and Lower Bottom formation is intact which indicates that the trend is still down. Hence, we advocate traders to go short below 889 with a price target of 840 & 810 levels respectively. Stop loss should be placed above 927.

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Rupee trades higher at 69.69 per dollar

The Indian rupee is holding on its opening gains as it is trading higher by 15 paise at 69.69 per dollar on Friday versus previous close 69.84.

Yesterday the rupee ended with a gain of 78 paise at against Wednesday's closing of 70.62 per dollar on the back of falling crude oil prices. This was highest closing for rupee against dollar since August 21.

The dollar-rupee December contract on the NSE was at 70.10 in the previous session. December contract open interest declined 1.50% in the previous session, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Stocks in the news: DHFL, Bajaj Finance, Asian Oilfield, ITI, Bharat Financial, SpiceJet

Here are stocks that are in the news today:

NBFCs: RBI provides liquidity relief to NBFCs, relaxing norms for securitisation transactions by NBFCs and minimum holding period for loans with 5-year maturity. (DHFL, Edelweiss Financial, PFC, REC, Bajaj Finance, Indiabulls Housing Finance, Bharat Financial, Shriram Transport Finance, M&M Financial etc may be in focus)

SpiceJet: Company gets shareholders' nod to re-appoint Ajay Singh as Managing Director.

Infosys enables Citizens Energy Group to navigate next phase of its customer service transformation

US Jury Finds in Favour of TCS in Discrimination Lawsuit

Asian Oilfield Services: Company has received a Letter of Award of contract from Oil and Natural Gas Corporation for 'Hiring of Services for 2D Seismic Data Acquisition in un-appraised on land areas of Sedimentary Basins of India Sector 11A (Himalayan Foreland area) valued at Rs 27.65 crore.'

ITI Limited: Cabinet Committee on Economic affairs (CCEA) approved measures for procurement quota to company in procurements made by BSNL, MTNL and BBNL.

Inox Leisure approved to issue 64 lakh equity shares at a price of Rs 250 each, aggregating to Rs 160 crores to Gujarat Fluorochemicals, the

Promoter of the company.

Bharat Financial Inclusion: Company completed the sixth securitisation transaction of Rs 289.14 crore in FY19. With this transaction, the company has completed six securitization transactions worth Rs 2,842.17 crore in FY19.

Monotype India: Board approved resignation of Harsh Jain as Director & CFO of the company and appointment of Naresh Jain as the CFO of the company.

Paul Merchants: Company increased its stake in Paul Merchants Finance Private Limited (PMFPL) from 96.87 percent to 100 percent by acquiring further 8,43,517 equity shares from its existing shareholder Sat Paul Bansal at a price of Rs 48.81 per share. PMFPL has now become wholly owned subsidiary of the company.

IVP: Crisil downgraded the credit of long term bank facilities from BBB/Stable to BBB-/Stable.

Asian Granito's board meeting on December 12 to consider and approve raising of funds of issue of equity shares on preferential basis

Responsive Industries' board meeting on December 4 to consider proposed program to buyback the equity shares of the company

Sambandam Spinning Mills: Company has disposed one of its non-core asset - very old Windmill and its surrounded vacant land situated at Udumalpet district.

Vodafone Idea - CRISIL  downgraded its rating on non-convertible debentures of Rs 6,000 crore

HUL clarified on news 'Unilever nears deal to add Horlicks to its mix' that company keep evaluating proposals for merger and acquisition and

due to confidentiality it will not correct to provide any further detail at this stag

Bulk Deals

Equitas Holdings: Kotak Mahindra Mutual Fund A/C Kotak Standard Multicap Fund sold 25,82,205 shares of the company at Rs 106.2 per share on the NSE.

Monte Carlo Fashions: Rajasthan Global Securities Pvt Ltd bought 1,11,837 shares of the company at Rs 373.73 per share on the NSE.

Multi Commodity Exchange: East Bridge Capital Master Fund I Limited purchased 3,99,000 shares of the company at Rs 706.41 per share on the NSE.

Powerful Technologies: NS Sales & Distributors P Ltd sold 1,26,000 shares of the company at Rs 23 per share on the NSE.

Repco Home Finance: The Pabrai Investment Fund IV LP sold 5,63,208 shares of the company at Rs 336.15 per share on the NSE and 3,85,327 shares at Rs 335.59 per share on the BSE.

Alkem Laboratories: Prasid Uno Family Trust sold 12,90,000 shares of the company at Rs 1,828.32 per share on the BSE.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Asian Granito India: Board meeting is scheduled on December 4 to consider the raising of funds by way of issue of equity shares on preferential basis for the company.

Brahmaputra Infrastructure: Board meeting is scheduled on December 7 to consider the un-audited financial results for the half year ended September 2018.

Mahindra Lifespace Developers: Board meeting is scheduled to be held on January 28, 2019 to consider the standalone and consolidated unaudited financial results of the company for the third quarter ending on December 2018.

Eicher Motors: Company's officials will be meeting Burgundy Asset Management Ltd and SBI MF on November 30.

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कमोडिटी मार्केट: सोना लुढ़का, क्या हो रणनीति

कमोडिटी बाजार की बात करें तो घरेलू बाजार में सोना 2 महीने के निचले स्तर पर लुढ़क गया है। ग्लोबल मार्केट में सुस्ती और रुपए में मजबूती से घरेलू कीमतों पर दोहरी मार पड़ी है। हालांकि इस हफ्ते जी20 की बैठक है और अगले महीने अमेरिका में ब्याज दरें बढ़ने की उम्मीद है। उधर कच्चे तेल में तेजी आई है और घरेलू बाजार में इसका दाम करीब 1.5 फीसदी उछल गया है। दरअसल अगले हफ्ते ओपेक बैठक है और वहां उत्पादन में कटौती की संभावना जताई जा रही है। वहीं नैचुरल गैस का दाम 1 फीसदी गिर गया है। बेस मेटल में आज जोरदार तेजी आई है। निकेल का दाम करीब 1 फीसदी उछल गया है। लेड और कॉपर में भी बढ़त पर कारोबार हो रहा है।

एग्री पर बात करें तो मंडी कानून में बदलाव के विरोध में मुंबई एपीएमसी के सभी कारोबारी अनिश्चित कालीन हड़ताल पर चले गए हैं। कारोबारियों ने सरकार पर भेदभाव का आरोप लगाया है। कल कमिटी की अहम बैठक के बाद उन्होंने ये फैसला लिया। नए कानून में कारोबार से सेस हटाने की मांग की जा रही है। बता दें कि सरकार ने सिर्फ फल स​ब्जियों को सेस से राहत दी थी। मांगे नहीं मानने पर कारोबारी ने पूरे राज्य में हड़ताल की चेतावनी दी है। हालांकि इस बीच राज्य के मुख्यमंत्री देवेंद्र फडणवीस ने भरोसा दिया है कि इस बिल को अभी ज्वाइंट सेलेक्ट कमिटी को भेजा जाएगा।

मोनार्क नेटवर्थ की निवेश सलाह

एमसीएक्स सोना: खरीदें - 30350, स्टॉपलॉस - 30250, लक्ष्य - 30500

एमसीएक्स चांदी: खरीदें - 35900, स्टॉपलॉस - 35700, लक्ष्य - 36300

एमसीएक्स कच्चा तेल: खरीदें - 3710, स्टॉपलॉस - 3660, लक्ष्य - 3800

एमसीएक्स कॉपर: खरीदें - 428, स्टॉपलॉस - 425, लक्ष्य - 433

एमसीएक्स निकेल: खरीदें - 768, स्टॉपलॉस - 756, लक्ष्य - 785

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D-Street Buzz: Auto stocks gain led by M&M, Tata Motors; Bajaj Finserv up 3%, ICICI Bank most active

The Indian benchmark indices have witnessed some robust gains with the Nifty50 up 93 points, trading at 10,822 while the Sensex gained 340 points at 36,057.

Nifty Metal is the outperforming sector, up 1.5 percent led by Hindalco Industries, JSW Steel, Hindustan Zinc, NALCO, Tata Steel and Vedanta.

FMCG stocks are also buzzing with gains from Emami, GSK Consumer, Hindustan Unilever, ITC, Godrej Industries and Britannia Industries.

From the auto space, the top gainers are Bajaj Auto, Mahindra & Mahindra, Tata Motors, Bosch and Apollo Tyres.

From the banking space, the top gainers are Federal bank which jumped 4 percent followed by IndusInd Bank, ICICI Bank, Kotak Mahindra Bank and State Bank of India.

From the oil & gas space, the top gainers included names like Reliance Industries which jumped close to 2 percent followed by BPCL, HPCL and GAIL India.

The top gainers from NSE include Hindalco Industries, Bajaj Finserv, BPCL, Vedanta and Mahindra & Mahindra.

The top losers included YES Bank, ONGC, Coal India, Sun Pharma and HCL Tech.

The most active stocks were YES Bank, Reliance Industries, HDFC Bank, ICICI Bank and Axis Bank.

Adani Power and Electrosteel Steels are some of the few stocks which hit new 52-week high on the NSE.

80 stocks have hit new 52-week low including names like ABG Shipyard, Ashapura Intimates, ONGC, Sun Pharma Advanced Research Company, Andhra Cements, IL&FS Transportation Networks, NTPC, Punj Lloyd, RAIN Industries, Suzlon Energy and Prabhat Dairy among others.

The breadth of the market favoured the declines with 821 stocks advancing and 823 declining while 418 remained unchanged. On the BSE, 1137 stocks advanced, 1152 declined and 121 remained unchanged.

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BPCL, HPCL, IOC up 1-3% as crude oil prices slip below $60; Macquarie keeps buy on OMCs

Shares of oil marketing companies including BPCL, HPCL and IOC are trading 1-3 percent higher on Thursday after Brent crude oil prices dropped in the global market.

Currently, Brent crude prices are trading around USD 58.97 per barrel.

On Wednesday the prices slipped by about 2.5 percent after US crude inventories rose for the 10th straight week to the highest in a year, adding to worries about a worldwide supply glut.

Research house Macquarie has maintained buy on BPCL, HPCL and IOC with a target of Rs 392, Rs 300 and Rs 176 respectively.

Macquarie believes that there is a further upside in the stocks and with lower oil, margin is likely to normalise sooner.

The policy risks expected to dissipate. The FY19-21 earnings estimates raised by 1-10%, while valuations look attractive, it added.

At 09:32 hrs Indian Oil Corporation was quoting at Rs 135.60, up 1.19 percent, Bharat Petroleum Corporation was quoting at Rs 326.50, up 1.57 percent and Hindustan Petroleum Corporation was quoting at Rs 241.85, up 1.51 percent on the BSE.

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Jubilant Life Sciences jumps 6% as Macquarie remains bullish, sees 54% upside

The government’s proposed hydropower policy, in the works for more than four years, is set to undergo a major revamp, sources said. In a major departure from the policy planned earlier, the draft of the new Cabinet note proposes to not give the host state any free power for the first five years. The state where the hydroelectric plant was located so far enjoyed free power equivalent to 12 percent of the plant’s capacity.

"Under the new policy, 10 percent of the plant's capacity will be given free to the state from the 10th year of its operation," an official familiar with the development told Moneycontrol.

He said the host state will receive 2 percent free power from the sixth year and this would incrementally rise by 2 percentage points every year to reach 10 percent in the 10th year.

"Not giving free power for the first five years will increase viability of the project, attracting private investment in the process," the official said.

Against the free power that the host state gets from the project developer, it gives a matching grant towards the local area development fund to help the locals displaced and affected by the plant. Locals affected by the project have a say in the use of the fund.

The new policy will immediately cover 30,000 MW of proposed hydroelectric policy, the official said. Of this, 14,000 MW is expected to come up by 2022 and 16,000 MW by 2030. The new policy will not impact any existing capacity, the official said.

The changes don't end here. To encourage private investment further, the government has agreed to provide Budgetary support to create infrastructure -- like roads and bridges -- necessary for establishing the plant.

Power regulator -- the Central Electricity Regulatory Commission -- does not allow inclusion of cost incurred on building roads and bridges in pricing of power, thus making it unattractive for private developers to venture into such projects.

The new policy will also extend the tenures of loans granted for hydel capacities to 25 years from 15 at present.

India's hydropower potential stands around 145,000 MW and at 60 percent load factor, it can meet the demand of around 85,000 MW. Around 26 percent of the country's hydropower potential has been exploited.

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Minda Corporation gains 2% on redemption of commercial paper

The government’s proposed hydropower policy, in the works for more than four years, is set to undergo a major revamp, sources said. In a major departure from the policy planned earlier, the draft of the new Cabinet note proposes to not give the host state any free power for the first five years. The state where the hydroelectric plant was located so far enjoyed free power equivalent to 12 percent of the plant’s capacity.

"Under the new policy, 10 percent of the plant's capacity will be given free to the state from the 10th year of its operation," an official familiar with the development told Moneycontrol.

He said the host state will receive 2 percent free power from the sixth year and this would incrementally rise by 2 percentage points every year to reach 10 percent in the 10th year.

"Not giving free power for the first five years will increase viability of the project, attracting private investment in the process," the official said.

Against the free power that the host state gets from the project developer, it gives a matching grant towards the local area development fund to help the locals displaced and affected by the plant. Locals affected by the project have a say in the use of the fund.

The new policy will immediately cover 30,000 MW of proposed hydroelectric policy, the official said. Of this, 14,000 MW is expected to come up by 2022 and 16,000 MW by 2030. The new policy will not impact any existing capacity, the official said.

The changes don't end here. To encourage private investment further, the government has agreed to provide Budgetary support to create infrastructure -- like roads and bridges -- necessary for establishing the plant.

Power regulator -- the Central Electricity Regulatory Commission -- does not allow inclusion of cost incurred on building roads and bridges in pricing of power, thus making it unattractive for private developers to venture into such projects.

The new policy will also extend the tenures of loans granted for hydel capacities to 25 years from 15 at present.

India's hydropower potential stands around 145,000 MW and at 60 percent load factor, it can meet the demand of around 85,000 MW. Around 26 percent of the country's hydropower potential has been exploited.

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Govt plans major revamp of proposed hydro policy, no free power to host state for 5 years

The government’s proposed hydropower policy, in the works for more than four years, is set to undergo a major revamp, sources said. In a major departure from the policy planned earlier, the draft of the new Cabinet note proposes to not give the host state any free power for the first five years. The state where the hydroelectric plant was located so far enjoyed free power equivalent to 12 percent of the plant’s capacity.

"Under the new policy, 10 percent of the plant's capacity will be given free to the state from the 10th year of its operation," an official familiar with the development told Moneycontrol.

He said the host state will receive 2 percent free power from the sixth year and this would incrementally rise by 2 percentage points every year to reach 10 percent in the 10th year.

"Not giving free power for the first five years will increase viability of the project, attracting private investment in the process," the official said.

Against the free power that the host state gets from the project developer, it gives a matching grant towards the local area development fund to help the locals displaced and affected by the plant. Locals affected by the project have a say in the use of the fund.

The new policy will immediately cover 30,000 MW of proposed hydroelectric policy, the official said. Of this, 14,000 MW is expected to come up by 2022 and 16,000 MW by 2030. The new policy will not impact any existing capacity, the official said.

The changes don't end here. To encourage private investment further, the government has agreed to provide Budgetary support to create infrastructure -- like roads and bridges -- necessary for establishing the plant.

Power regulator -- the Central Electricity Regulatory Commission -- does not allow inclusion of cost incurred on building roads and bridges in pricing of power, thus making it unattractive for private developers to venture into such projects.

The new policy will also extend the tenures of loans granted for hydel capacities to 25 years from 15 at present.

India's hydropower potential stands around 145,000 MW and at 60 percent load factor, it can meet the demand of around 85,000 MW. Around 26 percent of the country's hydropower potential has been exploited.

We provide you sure shot Commodity & Equity Market Tips, Intraday tips, share market tips, Mcx bullion tips, Mcx tips, Crude tips, Stock tips, Future and Cash tips with Technical & Fundamental Research.

Visit: www.ripplesadvisory.com

Contact us @ +91-9644405056