Nifty Daily For 16th July 2013

                   Nifty opened with a marginal gap down of 17 points in order to factor in the weak IIP data and increased CPI released late Friday night. It then drifted quickly to the lower levels of 5980 and bounced back. The June WPI numbers were below expectations at 4.86% Vs 4.9%. The market is expecting a rate cut from RBI in the coming Quarterly Monetary Policy on 30th July.  The markets moved upwards to test the resistance at 6045 and kept consolidating. There were however good rallies seen in the beaten down stocks, indicating positive breadth and broader market participation. The bank nifty is out performing nifty and in case pulling nifty upwards. 

                    The support for nifty is at 6009-5970-5945 and the resistance lies at 6040-6085-6105. Nifty July Future has been trading at 1-2 points premium to the spot. The implied volatility on the Nifty July Options of ATM strike calls were at 14.16 and for puts were at 19.07. India VIX closed at 18.89. PCR for Nifty based on open interest was at 1.74 and PCR for the day based on volumes was at 1.41 for the market.

Cash Market:

FII                  1908.56 - 2135.81 = (227.25) Cr.

DII                 1217.46 - 763.18 = 454.28 Cr.   

FII Derivatives Market:

In Cr.	buy	sell	net
INDEX FUTURES	1674.62	1889.17	-214.55
INDEX OPTIONS	13061.29	13306.73	-245.44
STOCK FUTURES	1765.48	1528.25	237.23
STOCK OPTIONS	1134.23	1165.50	-31.27

Corporate Action:

 

Ex-Date	Company	Purpose
16-Jul-13	Indo Count Industries Limited	Annual General Meeting
16-Jul-13	Ador Welding Limited	Dividend-Rs.6/- Per Share
16-Jul-13	Kirloskar Oil Engines Limited	Annual General Meeting And Dividend-Rs.5/- Per Share
16-Jul-13	Onward Technologies Limited	Annual General Meeting
16-Jul-13	Praj Industries Limited	Annual General Meeting/Dividend Rs 1.62 Per Equity Share
16-Jul-13	Gujarat Lease Financing Limited	Annual General Meeting
16-Jul-13	TTK Healthcare Limited	Annual General Meeting And Dividend Rs.4/- Per Share
16-Jul-13	Shilpa Medicare Limited	Annual General Meeting / Dividend - Rs 1.30/- Per Share / Bonus 1:2
16-Jul-13	Agro Tech Foods Limited	Annual General Meeting / Dividend - Rs 2/- Per Share
16-Jul-13	Titan Industries Limited	Annual General Meeting/Dividend Rs 2.10/- Per Share
16-Jul-13	Mcleod Russel India Limited	Annual General Meeting / Dividend - Rs.7/- Per Equity Share

Stocks In News:

Results Today - Ashok Leyland , Development Credit Bank , NIIT Technologies , S Kumars Nationwide, Sabero Organics , Supreme Industries

RBI tightens measures (Important for rupee)
RBI Governor D Subbarao says:
-Announces measures to address exchange rate volatility
-Marginal standing facility rate to be 300 bps above repo rate
-Marginal standing facility recalibrated at 10.25 percent versus 8.25 percent with immediate effect
-Bank rate stands adjusted at 10.25 percent versus 8.25 percent earlier with immediate effect
-Funds under liquidity adjustment facility (LAF) limited to 1 percent of Net Demand and Time Liabilities (NDTL)
-Changes in LAF to come into effect from July 17
-To conduct open market operation (OMO) of Rs 12,000 crore on July 18
-Allocation of funds under LAF capped at Rs 75,000 crore
-Rupee has depreciated markedly in last 6 weeks
-To continue to closely monitor markets, liquidity, macro economic developments
-Demand for foreign exchange is up partly on domestic liquidity improvement

RBI says:
-Companies can refinance rupee debt for investment in joint venture, arms via FX
-Only manufacturing, infrastructure, hotel companies can refinance rupee debt via FX

Tata Motors :
-June global wholesales at 84.458 versus 81,241 units (MoM)
-June passenger vehicle wholesales at 42,881 versus 41,272 units (MoM) 
-June Jaguar Land Rover (JLR) wholesales at 30,536 versus 28,874 units (MoM)
-June commecial vehicle wholesales at 41,577 versus 39,969 units (MoM)

Neyveli Lignite (NLC) divestment:
-SEBI approves Tamil Nadu govt's proposal to buy 5 percent stake in company
-16 trade unions in NLC withdraw strike

Govt files affidavit in Indraprastha Gas ( IGL ) versus PNGRB case in SC
-PNGRB has no powers to fix transmission fee
-PNGRB cannot fix tariffs unless 3rd party uses network
-PNGRB cannot fix tariffs for city gas distribution (CGD) companies like IGL
Alert: Next hearing of IGL Vs PNGRB case postponed to Thursday

Other stocks and sectors that are in news today:-PM to discuss FDI related issues today
- Crompton Greaves buy back offer starts today, buy back at maximum Rs 125/share
-HP stalls Mphasis stake sale TOI
- JSW Steel eyes Sandur Manganese for iron ore boost, cost saving ET
- Jet Airways , Etihad water down prickly deal clauses to pacify regulators ET (3 crucial clauses diluted to address SEBI and FIPB concerns
- Unitech launches FD scheme
-Delhi High Court defers Merck - Glenmark case hearing till July 22
- HDIL versus MIAL case adjourned, will be considered today
- Andhra Bank to cut base rate by 25 bps to 10.00 percent and benchmark prime lending rate (BMPLR) by 25 bps to 14.25 percent effective July 22
-June Auto Sales: Atul Auto total sales at 2,802 Vs 2,502 units (YoY)

Shriram Transport Finance to raise Rs 750 crore via NCD issue
-NCD’s issue opens today, Close on July 29th

DoT secretary says:
- Reliance Jio gets 6 months extension for testing 4G services
-Reliance Jio testing 4G services in Delhi, Mumbai & Jamnagar

Exide Industries Q1:
-Net Profit at Rs 159 Crore Versus Rs 152 Crore (YoY)
-Revenue at Rs 1,627.5 Crore Versus Rs 1,553.6 Crore (YoY)
-EBITDA at Rs 261 Crore Versus Rs 232.3 Crore (YoY)
-OPM at 16.1 percent Versus 14.9 percent (YoY)

CMC Q1 consolidated
-Net profit at Rs 53.1 Crore Versus Rs 58.4 Crore (YoY)
-Net income at Rs 486.6 Crore Versus Rs 452.3 Crore (YoY)

Oberoi Realty Q1 consolidated
-Net profit at Rs 101.8 Crore Versus Rs 100.8 Crore (YoY)
-Net sales at Rs 210.3 Crore Versus Rs 197.6 Crore (YoY)

Advanta India Q2 consolidated
-Net profit at Rs 31.7 Crore Versus Rs 14.3 Crore (YoY)
-Net sales at Rs 311 Crore Versus Rs 247.4 Crore (YoY)

Reliance Industrial Infrastructure Q1:
-Net profit at Rs 5.5 Crore Versus Rs 5.3 Crore (YoY)
-Income from operations at Rs 20.5 Crore Versus Rs 17 Crore (YoY)

Ex-Dividend
- Novartis India Rs 10/share
- Mcleod Russel Rs 7/share

Empowered group of ministers (EGoM) on KG-D6 gas allocation to meet today: Sources
-EGoM to resolve power companies' gas availability matter
-EGoM to mull giving power companies equal priority as fert sector
-EGoM to mull diverting gas from fertiliser to power sector
-EGoM proposal to divert 9.07 mmscmd from fertiliser to power companies
-EGoM proposal to divert 1.72 mmscmd from LPG to power companies
-Diversion to power to enable savings of Rs 11,700 crore per annum

Stocks in Ban Period:

NIL

source:moneycontrol.com, nseindia.com