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Thursday, 27 October 2016
Nifty 8650 Call adds 14.9 lakh shares in Open Interest
F&O cues :
Nifty 8700 Put sheds 22.4 lakh shares in Open Interest on October 26
Nifty 8600 Put shed 12.9 lakh shares in Open Interest
Nifty 8550 Put added 8.2 lakh shares in Open Interest
Nifty 8650 Call added 14.9 lakh shares in Open Interest
Nifty 8700 Call added 12.3 lakh shares in Open Interest
Nifty 8600 Call added 6.3 lakh shares in Open Interest
FIIs in F&O on October 26 (Provisional data from NSE)
FIIs net sell Rs 232 crore in Index Future
FIIs net buy Rs 764 crore in Index Options
FIIs net sell Rs 388 crore in Stock Future
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Asia Slips after Apple Results hit Wall Street
Asian shares edged down on Thursday after disappointing earnings from technology giant Apple dragged on Wall Street, while the dollar remained shy of this week's nearly nine-month highs. Besides Apple results and forecasts from some other major US companies also weighed on US markets overnight. The S&P 500 and the Nasdaq Composite both skidded, though a standout performance by Boeing lifted the Dow Jones industrial average.
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MSCI's broadest index of Asia-Pacific shares outside Japan as well as Tokyo's Nikkei stock index were both down 0.2 percent in early trading. Expectations for a year-end rate hike by the Federal Reserve remained intact, and bolstered the greenback.
In recent weeks, market participants have been pricing in more than a 70 percent chance that the U.S. central bank would hike interest rates in December, according to CME Group's FedWatch program. Later on Thursday, market participants will parse the latest data on US durable goods, jobless claims and pending home sales.
Apple Weighs on Wall Street
Apple's results weighed on US stock prices on Wednesday after the technology giant posted its first annual revenue decline since 2001, while oil and gold prices slipped. Apple, the world's largest company by market capitalization, fell 2.2 percent after it acknowledged strong demand for its iPhone 7 Plus caught the company off-guard and it was struggling to keep up with demand.
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The technology giant pulled down the S&P 500 stock index and Nasdaq, but gains in Boeing bouyed the price-weighted Dow Industrials. Boeing shares were trading at their highest level this year, after the world's largest planemaker reported a jump in quarterly profit despite slower sales.
The Dow Jones industrial average rose 30.06 points, or 0.17 percent, to 18,199.33, the S&P 500 lost 3.73 points, or 0.17 percent, to 2,139.43 and the Nasdaq Composite dropped 33.13 points, or 0.63 percent, to 5,250.27.
Rupee opens lower at 66.92 per dollar
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The Indian rupee opened lower by 9 paise at 66.92 per dollar on Thursday versus previous close 66.83. Mohan Shenoi of Kotak Mahindra Bank said, "With upcoming US elections, Fed rate hike on November 2 looks unlikely. However, dollar continues to strengthen on the back of expectations of Fed rate hike in December."
"The Rupee has been resilient in a range on the back of exporter selling. We expect the USD-INR to trade in a range of 66.75-67% for the day," he added. The US dollar fell against a basket of major currencies after touching a nearly nine-month high on Tuesday as the greenback looked vulnerable to weakness on uncertainty surrounding Federal Reserve monetary policy and the US election.
Meanwhile, the euro rose from a seven-month low on signs that the European economy may be improving enough to reduce pressure on the ECB to further ease monetary policy.
Nifty can shed 30 points at opening
Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could loose 30 points at the opening bell.
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Nifty PCR-OI has decreased to 0.85 from 1.02. The fall in the ratio may be due to decrease in PE of 8700 and increase in CE of 8650. PE of 8600 and CE of 8700 are the highest number of contracts traded.
Wednesday, 26 October 2016
HDFC PE fund exits Lodha's World Tower proj for Rs 1,500cr
City-based realty player Lodha Group today said private equity player HDFC Property Fund has exited its stake in the developer's World Towers in south Mumbai project for Rs 1,500 crore. The offshore fund, sponsored by Housing Development Finance Corporation (HDFC), had invested Rs 500 crore in the project in 2010, which realized a return of 3x or Rs 1,500 crore after 6 years, Lodha Group said in a statement issued here.
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The exit was funded through internal accruals and partly through fresh fund raising, the company said. "HDFC Property Fund's investment in World Towers has played an instrumental role in making it truly an iconic landmark in Mumbai," company's Managing Director Abhishek Lodha said. The World Towers, spread over 17 acres in south Mumbai comprises of three ultra-luxury highrises.
Possessions at World Crest have already started and the Tier 1 of World One is slated for delivery in mid-2017. HDFC Property Ventures Managing Director and CEO KG Krishnamurthy said, "This transaction was one of our largest investments in Mumbai and came at a time when the real estate sector was facing sluggish sales and low investor confidence.
However, Lodha business performance continues to outperform market expectations. We look forward to our long-term engagement." In fiscal 2015-16, Lodha Group achieved net sales of Rs 6,400 crore and delivered 6,800 homes.
GST will be game changer for Media, Entertainment Industry
Minister of Information and Broadcasting M. Venkaiah Naidu on Tuesday said the Goods and Services Tax (GST) will be a game-changer for the media and entertainment industry.
He also said that the media and entertainment industry needed to outline a firm roadmap to ensure the convergence of networks, devices and content, the core elements of the digital entertainment process.
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"The Make in India, Skill India and Digital India campaigns are clearly positive signals of the new transformation including GST which is expected to be a game changer for the sector," he said.
"The growth of varied platforms such as 4G, broadband, mobile technologies, digital media has enabled the sector to move towards convergence across platforms and content," Naidu said addressing the 5th edition of the CII Big Picture Summit here.
"The Indian media and entertainment industry needs to outline a firm roadmap to ensure the convergence of networks, devices and content, the core elements of the digital entertainment process," he said.
Bharti Airtel Q2 net Slides 4.9% at Rs 1,461 cr
Telecom giant Bharti Airtel on Tuesday in after-market hours reported that consolidated net profit fell 4.9 per cent to Rs. 1,461 crore in Q2 FY 2016-17 from the same period a year ago on increased spectrum costs. In Q2 FY 2015-16, the company had posted a consolidated net profit of Rs 1,536 crore, Bharti Airtel Ltd said in a filing to the Bombay Stock Exchange (BSE). Total consolidated revenues climbed by 3.4 per cent to Rs 24,652 crore in Q2 FY 2016-17 from Rs 23,836 crore in the same period a year ago.
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Revenues from its India market stood at Rs 19,219 crore in Q2 FY 2016-17, up by 10.1 per cent from the same period a year ago, driven by healthy growth in Digital TV (20.9 per cent), Airtel business, (19.2 per cent), Homes (14.9 per cent) and Mobile (7.9 per cent), on a year-on-year basis, respectively. Gopal Vittal, MD and CEO, India & South Asia at Bharti Airtel said: “Overall revenue momentum in India has been sustained primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 per cent y-o-y.”
Axis Bank net profit slumps as bad loans Rise
Axis Bank Ltd on Tuesday reported an 83 percent fall in second-quarter net profit after a sharp rise in bad loans, providing more evidence of how India's banks are struggling to cope with a $138 billion distressed loan burden.
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The banks' record stressed assets are mainly due to corporate loan defaults. State-controlled banks account for the bulk of the troubled loans, while among the private sector banks, ICICI Bank and Axis Bank account for the biggest chunk.
Axis Bank said its bad loans jumped to 4.17 percent of total loans as of end-September from 2.54 percent in June. About 72.87 billion rupees of loans from the bank's previously announced "watch list" of troubled loans turned non-performing in the second quarter, finance chief Jairam Sridharan told a media conference call on Tuesday.
The bank will raise provisions in the second half of the fiscal year, keeping credit costs high for the fiscal year to March, he said. But he saw the current year as the "likely peak" for bad assets. The bank still has 137.89 billion rupees worth of loans in the "watch list".
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