ICICI Bank to open branches in Australia, South Africa and Mauritius!

The 50-share Nifty index is expected to open higher but may trade in a range on Tuesday following muted trend seen in other Asian markets. Stocks in news are Reliance Ind, ICICIBANK, IOC, BPCL, HPCL, Havells India, Union Bank of India, TCS, Adani Ports and Anant Raj.

Today’s Headlines

1) Liqour in Delhi become costlier from Tuesday.
2) Yamaha working on $500 bike for Indian market.
3) Sequoia Capital India invests Rs 30 crore in customer feedback platform Akosha.
4) ICICI Bank to open branches in Australia, South Africa and Mauritius: Chanda Kochhar.
5) Petrol price hiked by Rs 1.69 per litre, diesel by Rs 0.50 with effect from midnight.
6) Ineos to buy BASF's 50 per cent stake in Styrolution for 1.1 billion euros.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

BUDGET 2014: Next Big Trigger for Markets

The first Budget of NDA is the next big trigger for the Markets. Our Budget expectations are on following lines:–

• Boost to Consumer spending: - The budget should rationalize Direct taxes and reduce Income Tax on Salaried class to boost consumer spending.

• Focus on infrastructure& Power:- The Budget should aim at increasing investments in Infrastructure by Tax Sops and creation of Investment vehicles giving the Government dual benefit  of creating jobs as well as boosting economy. Separate investment vehicles may be created to help cash starved infrastructure developers raise long term capital at competitive rates.

• Positive & Proactive Time Frame for long pending issues i.e. Introduction of GST and introduction of new Direct Tax Code is expected to be announced in the Budget.

• Capital Market Boost by rationalizing Taxation on Investments, increasing amount of investment U/S Sec.80C and increasing thrust on Disinvestment.

• Rationalization of Subsidies and an overall containment of Fiscal deficits.

The Budget is expected to aim to give a boost our economy. After budget announcement, the markets may see acceleration on the positive sentiment and it could lead to re rating of our markets. The downside being limited we expect that investments in diversified MF schemes as well as all class of mid & small cap schemes should give handsome returns to the investors.

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Banks rush to dump their bad loans

The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index has immediate support at 7500 and below that 7400 is a crucial support level for Nifty. Stocks in news are SBI, BOB, IOB, Reliance Ind, Infosys, GAIL India, COAL India and NTPC.

Today’s Headlines

1) Anti-lock braking made mandatory in commercial vehicles from April.
2) Banks rush to dump their bad loans, make a beeline to ARCs.
3) Diageo's market share increases to 17%; buoyed by access to the sales network of United Spirits.
4) Cigarette makers urge government to not increase excise duty.
5) 2 senior GAIL officials suspended over Andhra Pradesh pipeline mishap.

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Technical: Wait & Watch & Good time to Switch

Nifty future has broken its crucial supports of 7640 & 7530. The markets may fall further and Nifty may hover between 7300-7450. At these levels, 7300 is a strong support and can be broken only if there is a very strong negative event.

We reiterate that lower levels will offer an attractive investment opportunity for equities. Immediate market movements are based on risk aversion and escalation in tensions in Middle East. Money is moving from risk assets to safety of gold. The hike in Rail fares has increased fears of inflationary trend & interest rates have moved up by 20 basis points in the last one week.

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Honda Motors' global recall to cover Accord in India!

The 50-share Nifty index is expected to open flat on Wednesday following muted trend seen in other Asian markets. Stocks in news are Idea, TTK Prestige, Tata Steel, Parasvnath Developers, DLF, Reliance Infr, IRB Infra, GMR Infra, EIL and Indian Hotels Company.


Today’s Headlines

1) Honda Motors' global recall to cover Accord in India.
2) Maruti plans big, to launch six cars in the next 5 months.
3) RBI sets time frames for approvals for licenses, fundraising.
4) Arvind Lifestyle to invest Rs 126 crore as capital expenditure this fiscal.
5) JSW Energy keen to acquire Lanco’s Udupi thermal power plant.
6) US company Abraxis Bio Sciences denied patent on anti-cancer drug.

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

The dollar fell for the first time in three days!

1) The dollar fell for the first time in three days versus the yen before data this week economists said will show U.S. output and new home sales slowed, supporting the case for the Federal Reserve to hold rates near zero.

2) The pound was 0.2 percent from the highest level in more than five years against the dollar as data showed speculators increased their bets on its appreciation to the most since 2007.

3) The rupee fell toward a seven-week low on concern a rally in oil prices amid tensions in Iraq will widen India’s trade deficit and spur inflation.

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Asian Paints keen to expand global footprint

The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to reclaim its crucial psychological level of 7,550 in trade today. Stocks in news are Bank Of India, Railways Stocks, ONGC, Jindal Steel & Power, L&T, Coal India, SAIL, Hindustan Zinc, Gammon Infrastructure, ESSAR Oil, SBT, Emami, United Bank of India, UCO Bank and J Kumar Infra projects.

Today’s Headlines

1) Asian Paints keen to expand global footprint.
2) Ruias get Board nod to de-list Essar Oil from Indian bourses.
3) GCA to be appointed to resolve ONGC-RIL dispute.
4) Operations resume in Bhilai Steel Plant after a week's shutdown.
5) CK Birla group up Rs 270 crore investments in healthcare.
6) United Bank of India to rise up to Rs 1,600 crore to grow lending.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Nestle India revamping coffee brand Nescafe!

The 50-share Nifty index is expected to open flat with positive bias on Friday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to reclaim its crucial psychological level of 7550 in trade today. Stocks in news are Hindustan Zinc, Tata Motors, Cairn India, GMR Infra, Apollo Tyres, Orchid Chemicals, Indiabulls Real Estate, UPL, OIL and RCOM.

Today’s Headlines

1) Hindustan Motors seeks more time for preparing revival plan roadmap.
2) State Bank of India among 24 public sector banks ineligible for Rs 50,000 crore EPFO investments.
3) Nestle India revamping coffee brand Nescafe.
4) PepsiCo to sell packs of beverage and snacks during FIFA World Cup sponsored by Coca-Cola, denies ambush marketing.
5) Heads of Adani, Reliance, Essar, GMR, JSPL, Lanco to meet Arun Jaitley, Piyush Goyal today.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

The rupee fell toward a seven-week low!

1) China will allow the Yuan to be exchanged directly for British pounds from today in Shanghai as the world’s second-largest economy promotes the use of its currency in global trade and finance.

2) U.K. government bonds advanced for the first time in five days as minutes of the Bank of England’s June 4-5 meeting showed no policy makers voted to raise the benchmark interest rate from a record low.

3) The rupee fell toward a seven-week low on concern India’s trade balance will deteriorate and inflation will quicken as violence in Iraq boosts oil prices.

Read full report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Hero MotoCorp plans 6th plant, scouts for site in South India!

The 50-share Nifty index is expected to open flat on Wednesday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological level of 7,600 in trade today. Stocks in news are Reliance Ind, Bharti Airtel, SAIL, Hero MotoCorp, Kotak Mahindra, MTNL, Tata Steel, Cipla and Spice Jet.

Today’s Headlines

1) ICICI Securities ties up with CIBIL to provide CIBIL TransUnion score.
2) Hero MotoCorp plans 6th plant, scouts for site in South India.
3) Hindustan Motors asked to submit revival package for its closed Uttarpara plant by Jun 19.
4) Microsoft Ventures may invest in Hyderabad startup NowFloats for India foray.
5) Generating companies stay away from bidding for two key ultra mega power projects.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

RBI's liquidity coverage rule may adversely affect some banks!

The 50-share Nifty index is expected to open lower on Tuesday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological support level of 7,500 in trade today. Stocks in news are DLF, Yes Bank, Tata Power, Essar Steel, Lupin, Sesa Sterlite, Mahindra Lifespace, NBFC Stocks, ONGC and Hindustan Zinc.
 

 Today’s Headlines

1) RBI's liquidity coverage rule may adversely affect some banks.
2) Asian Paints Ltd to buy Ess Ess Bathroom's front-end sales business.
3) Oil Ministry may cap ethanol blending in petrol at 10%.
4) Larsen & Toubro Construction bags Rs 1,027 crore orders.
5) Tata Housing to spend Rs 3,000 cr to buy land across major cities.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

GMR Infra drops on buzz of fund raising via QIP!

Not much of action seen on Dalal Street with a bit of prof booking. The Sensex was down 37.69 points at 25190.48 and the Nifty was down 8.55 points at 7533.55. GAIL, TCS, Sun Pharma, Infosys and BHEL were top gainers in the Sensex. Among the losers were Axis Bank, M&M, L&T, HDFC and Tata Motors.

 Who Moved and Why

1. Granules India gains after paracetamol unit passes USFDA inspection.
2. Titagarh Wagons gains after foraying into biz.
3. Central Bank of India gains after fixing price for preferential allotment.
4. Nitesh Estates gains after signing a new development project.
5. GMR Infra drops on buzz of fund raising via QIP
6. Dish TV surges after recent slide.
7. Yes Bank firms up after good advance tax numbers

Read detail analysis report here:- http://www.rrfinance.com/Reserch/ResearchHome.aspx

New Zealand’s dollar surged the most in four months

Cuurency Today’s Headlines

1) New Zealand’s dollar surged the most in four months after the central bank raised interest rates and flagged further increases, boosting demand for the nation’s currency.

2) The pound appreciated for a seventh day versus the euro, extending the longest run of gains since September, as signs the U.K. economy is accelerating pushed the currency to its strongest level in 18 months.

3) South Korea’s government bonds rallied, pushing the three-year yield down by the most in five months, as the nation’s central bank said a strong won will have an adverse impact on growth.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Honda aims to sell 45 lakh motorcycles in FY'15

The 50-share Nifty index is expected to open lower on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological level of 7600 in trade today. Stocks in news are Siemnes, Ranbaxy Lab, Idea Cellular, Bajaj Finserv, ICICI Bank, HPC, BPCL, IOC, Future Retail and Essar Group.

 

Today’s Headlines

1) Honda aims to sell 45 lakh motorcycles in FY'15.

2) ICICI bank axes 1,200 of its staffers across board to improve efficiency.

3) Canadian Company Brookfield to acquire 100 % and 60 % Unitech’s six Assets.

4) SBI rejects SREI bid for Abhijeet power plant.

5) Ashapura Minechem to buy Orient Abrasive for Rs 400 Crore.

Read detail report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

U.K. industrial production rose for a third month in April!

1) The yen rose the most in almost a month versus the euro on speculation Bank of Japan stimulus will be sufficient to boost the economy while the European Central Bank will expand currency-debasing measures to revive growth.

2) U.K. industrial production rose for a third month in April, driving the annual increase to the biggest since 2011. Output rose 0.4 percent from March, when it gained a revised 0.1 percent, the Office for National Statistics said.

3) The gap between West Texas Intermediate and Brent narrowed to the least in almost two months as U.S. crude stockpiles were forecast to fall and Ukraine said peace talks with Russia yielded progress.

Debt Market Key Headlines

1) India will likely raise the foreign investment limit in government debt soon, as almost all the allocation has already been taken up as overseas buyers pile into the country's financial markets, said four officials with direct knowledge of the government's thinking. The current cap is 995.46 billion rupees ($16.86 billion).

2) Foreign investors have poured in a staggering Rs. 19,772 crore ($3.35 billion) into the Indian debt market in May - the highest monthly inflow in about two and a half years.

Read detail analysis report here:- http://www.rrfinance.com/Reserch/ResearchHome.aspx

South Korea’s won rose to the strongest level in almost six years

1) The yen dropped against higher-yielding counterparts after Japan had a smaller current-account surplus than economists predicted and record-low foreign-exchange volatility curbed demand for haven assets.

2) South Korea’s won rose to the strongest level in almost six years as stimulus by the European Central Bank and better-than-expected U.S employment data supported demand for riskier assets.

3) Argentina’s efforts to stabilize the peso are being undercut by the 100,000 soccer fans Brazil is expecting to travel across the border to see the national team led by Lionel Messi try to win a third World Cup title.

Debt Market Key Headlines

1) India will likely raise the foreign investment limit in government debt soon, as almost all the allocation has already been taken up as overseas buyers pile into the country's financial markets, said four officials with direct knowledge of the government's thinking. The current cap is 995.46 billion rupees ($16.86 billion).

2) Foreign investors have poured in a staggering Rs. 19,772 crore ($3.35 billion) into the Indian debt market in May - the highest monthly inflow in about two and a half years.

Read detail analysis report here: - http://www.rrfinance.com/Reserch/ResearchHome.aspx

ICICI Bank overtakes HDFC Bank as top private bank employer

The 50-share Nifty index is expected to open higher on Monday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to surpass its earlier record high of 7,592 recorded last week on Friday. Stocks In news are Maruti Suzuki, IDBI Bank, NDMC, Bombay Dyeing, Coal India, Hindustan Zinc, Nectar Life sciences, Divi’s Laboratories, GAIL and Hindustan Motors. 

Today’s Headlines

1) Dynaflex, largest packing material supplier to e-commerce firms, eyes Rs. 78,000 crore packaging industry.
2) Auto firms like M&M, Tata Motors, Maruti, Hyundai, Renault and Nissan to spend Rs 10,000 crore on new models, facelifts.
3) ICICI Bank overtakes HDFC Bank as top private bank employer.
4) Dalmia Continental puts its 2 olive oil brands on sale.
5) China way ahead of India in renewable energy space.

Read detail analysis report here:- http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

India’s rupee erased gains on speculation..

1) ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making the institution the world’s first major central bank to use a negative rate. Policy makers also lowered the benchmark rate to 0.15 percent from 0.25 percent.

2) The euro has weakened 3.1 percent since touching a 2 1/2-year high on May 8 before Draghi sent it tumbling by saying that the Governing Council would be “comfortable” to act in June.

3) India’s rupee erased gains on speculation the central bank intervened to rein in an advance that’s made the currency the best performing in Asia this year after Pakistan’s rupee. 

Debt Market Key Headlines

1) The finance ministry is reportedly examining mergers of the country's state-run banks to create stronger financial institutions. True, Indian banks do not have large enough balance sheets to meet the needs of large rapidly globalizing companies. Small public sector banks could gain economies of scale by merging

2) Also, the global financial crisis in the aftermath of the collapse of Lehman Bros has shown that no country needs a bank that is too big to fail. Small banks, theoretically, do not pose systemic risks and can be allowed to sink.

Read detail analysis report here: -  http://www.rrfinance.com/Reserch/ResearchHome.aspx

Reliance, Essar cut crude imports from Middle East!

The 50-share Nifty index is expected to open flat on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index may retest its crucial psychological support level of 7,400 in trade today. Stocks in news are Trend, JSW Steel, IGL, IDFC, Reliance Capital, KSK Energy, Reliance Industries, JSPL, NMDC and Anjani Portland.

Today’s Headlines

1) Maruti Suzuki delegation meets Gujarat Chief Minister Anandiben Patel.
2) Manipal group scion Ranjan Pai and former Infosys director Mohandas Pai to launch new funds worth $200 million.
3) Reliance, Essar cut crude imports from Middle East.
4) Tata Housing to spend Rs 3,000 cr to buy land across major cities.
5) NMDC ups iron ore prices after Odisha mine closures

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

India’s central bank signaled it would ease monetary policy if inflation..

Currency Market Today’s Headlines

1) India’s central bank signaled it would ease monetary policy if inflation slows faster than anticipated as it left interest rates unchanged for a second straight meeting. Stocks rose to a record high.

2) The pound rose against the dollar as a report showed U.K. house prices climbed to a record in May amid an economic recovery that sent the British currency to an almost five-year high last month.




 

3) India’s benchmark stock index rose to a record after the RBI’s rate decision and the yield on the 10-year government bond fell to 8.61 percent from 8.66 percent yesterday.

Read detail currency report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Anil Dua quits Hero MotoCorp; to pursue career abroad

The Nifty is likely to open on a positive note and extend overnight gains on the back of positive cue from Asian peers. Rate sensitives will be in focus ahead of the Reserve Bank of India's policy review. According to ET Now poll, the central bank is likely to keep key interest rates unchanged.

Today’s Headlines

1. Anil Dua quits Hero MotoCorp; to pursue career abroad.
2. Better sentiment, new models boost auto sales; Maruti Suzuki, Hyundai, Honda, Toyota and Ford see rise.
3. PE firm SAIF Partners to make 8 new investments across sectors.
4. Blazing heat brings relief to AC, fridge and consumer durable sales.
5. Lakshmi Machine Works eyes new export markets to dodge domestic competition. 

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

IDFC to shave off infrastructure loans to meet RBI norms

The Nifty is likely to open on a flat note in absence of supportive cues from Asian peers. The trade is likely to turn choppy as the session progresses and rate sensitives will be in action ahead of RBI policy for direction. Stocks in news are L&T, Infosys, Aurobindo, Financial Tech, AstraZeneca Pharma, MTNL, Bayer Crop, PIpavav Defence and SAIL.

 Today’s Headlines
1) Volkswagen studying possibility of introducing a budget brand for Indian market.
2) Hero MotoCorp sales up by 8 per cent in May.
3) IDFC to shave off infrastructure loans to meet RBI norms.
4) Reliance Industries Ltd rejigs investment portfolio; focus on bonds, deposits.
5) Power deficit doubles in May to 7,000 MW; 20K MW of new thermal capacity still lying idle.
6) Kamdhenu Ispat expects 20% revenue growth this fiscal.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf