Monday, 7 November 2016
Ujaas Energy up 5%; bags 50 kWp solar power system order
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Share price of Ujaas Energy advanced more than 5 percent intraday Monday as it has received order for SPV based solar power system at RBI building, Bhopal. The company has received an order for design, supply, installation, testing and commissioning of grid interactive SPV based solar power system of 50 Kwp at RBI building, Bhopal (MP). Earlier in this month, the company had bagged an order for rooftop grid connected solar PV system of 158 Kwp from Airport Authority of India.
The company had reported a net profit of Rs 9.70 crore for the quarter ended September 2016 against profit of Rs 3.28 crore, in the same quarter last fiscal. At 09:28 hrs Ujaas Energy was quoting at Rs 36.10, up Rs 0.90, or 2.56 percent on the BSE.
Flipkart may raise $1 billion from Wal-Mart
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Stepping up its game, Indian e-commerce firm Flipkart may raise around USD 1 billion from the Canada Pension Plan Investment Board (CPPIB) and US retail giant Wal-Mart Stores, according to a Hindu Business Line report. The Bengaluru based firm is seeking funds to expand its footprint and also take on arch rival Amazon.
CPPIB has been actively investing in the Indian market since 2010, with investments of around USD 2 billion. Flipkart is also in talks with Wal-Mart on the sale of a minority stake to the American retail giant. There are chances that Wal-Mart’s partnership could help Flipkart take on Alibaba, as it scales up its India presence.
Sensex gains over 250 pts, Nifty opens above 8500
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The 64 companies under the coverage which have reported thus far, the brokerage has raised FY17 earnings estimates for 39 percent of them and downgraded for 41 percent. Consumer staples and print media disappointed but autos, select private banks and commodities beat expectations. He says during results season, FY17 consensus Nifty earnings estimates were lowered by 1 percent, a much-improved trend compared to last year.
Festive season demand has been robust, especially for autos and jewellery. If this trend continues, H2FY17 will be far better for corporate earnings which will also have a low base to help, he feels.
Nifty 8400 Call adds 4.7 lakh shares in Open Interest
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F&O cues:
Nifty 8200 Put added 12.5 lakh shares in Open Interest on November 4
Nifty 8100 Put added 6.2 lakh shares in Open Interest
Nifty 8500 Call added 9.1 lakh shares in Open Interest
Nifty 8400 Call added 4.7 lakh shares in Open Interest
FIIs in F&O on November 4 (Provisional data from NSE)
FIIs net sell Rs 968 crore in Index Future
FIIs net sell Rs 189 crore in Index Options
FIIs net sell Rs 600 crore in Stock Future
IBM moved jobs to India
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Republican presidential nominee Donald Trump today accused US tech giant IBM of laying off 500 workers in Minneapolis and shifting their jobs to India and other countries as he warned of levying a 35 per cent tax on companies doing so if he is elected. "IBM laid off 500 workers in Minneapolis and moved their jobs to India and other countries. A Trump administration will stop the jobs from leaving America, and we will stop the jobs from leaving Minnesota," Trump said in his speech yesterday in Minneapolis, as part of efforts to woo voters in Minnesota state which has been a Democrat stronghold.
"If a company wants to leave Minnesota, fire their workers and move to another country and then ship their products back into the United States, we will make them pay a 35 per cent tax. We will also unleash American energy including shale oil, natural gas and clean coal," he said.
Rupee opens marginally lower at 66.74 per dollar
The Indian rupee opened marginally lower by 4 paise at 66.74 per dollar on Monday versus 66.70 Friday. Pramit Brahmbhatt of Veracity says, "Weak US economic data and dollar index will help rupee gain today. The rupee is likely to head towards 66.50/dollar levels and the trading range for the day is likely to be between 66.50-66.80/dollar."
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Nifty Futures to open at 8512, up 57 points
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Indian benchmark Index Nifty, after a closing below its monthly breakout level of 8506 last week, is likely to witness a pullback on the upside as positive news on US presidential elections came in today morning. Hillary Clinton, US Democratic Presidential Candidate and Wall Street favourite, has been given a clean chit in an email case which can lead to big gains in all global indices. India is expected to be a major gainer.
For Nifty Futures, 8520 level is very crucial, if market crosses it then bulls will be in control. FII have been net sellers in the cash and F&O segment in the past few trading sessions, now it is important to see if they change their view in next few trading sessions.
NSE Small Cap Index saw profit booking to close below 6200, below its two week low. Nifty Futures is expected to open at 8512 as per SGX Nifty at 8:10 am IST, which is 57 points above its previous close of 8455.
Wednesday, 2 November 2016
Asian shares, Dollar Rattled by US Election Uncertainty
Asian shares stumbled and the US dollar was on the defensive on Wednesday as signs that Republican US presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors. Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican candidate's stance on several issues including foreign policy, trade relations and immigrants, while Clinton is viewed as a candidate of the status quo.
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Asian shares stumbled and the US dollar was on the defensive on Wednesday as signs that Republican US presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors. Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican candidate's stance on several issues including foreign policy, trade relations and immigrants, while Clinton is viewed as a candidate of the status quo.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4 percent while Japan's Nikkei fell 1.1 percent. The tumultuous presidential race appeared to tighten after news that the Federal Bureau of Investigation was reviewing more emails as part of a probe into Clinton's use of a private email server.
While Clinton held a five-percentage-point lead over Trump, according to a Reuters/Ipsos opinion poll released on Monday, some other polls showed her Republican rival ahead by 1-2 percentage points. That pushed U.S. S&P 500 Index down to a four-month closing low on Tuesday. The CBOE volatility index , often seen as investors' fear gauge, briefly rose to a two-month high above 20 percent.
US Election, rate Uncertainty Rattle Wall Street
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Wall Street sold off on Tuesday, with the S&P 500 closing at the lowest level since July 7, amid growing concern over the impending US presidential election and prospects for higher US interest rates. Stocks pared losses after falling steeply in early afternoon trading as the S&P 500 breached a key technical level.
The tumultuous presidential race between Democrat Hillary Clinton and Republican Donald Trump has appeared to tighten in the past week after news that the FBI was investigating more emails as part of a probe into Clinton's use of a private email system. "There is concern over Trump being unexpected, because the market has really priced in a Clinton win and it hasn’t priced in a Trump win at all," said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York.
The selloff in equities comes as the Federal Reserve holds its two-day policy meeting, with its statement due on Wednesday. While traders do not expect the central bank to raise interest rates just a week ahead of the presidential election, they are looking for signs confirming that the Fed is set to hike rates in December.
The tumultuous presidential race between Democrat Hillary Clinton and Republican Donald Trump has appeared to tighten in the past week after news that the FBI was investigating more emails as part of a probe into Clinton's use of a private email system. "There is concern over Trump being unexpected, because the market has really priced in a Clinton win and it hasn’t priced in a Trump win at all," said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York.
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