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Nifty to trade in 5130- 5275 range: Kotak Securities

Posted by
at March 30, 2012

The Associate Vice President of the Derivatives Research Team at Kotak Securities, Sahaj Agrawal gives a brief overview about NIFTY trading and its impact on varied sectors. The severe downfall of 5170 on the downside that the 50- share Nifty Index experienced last week was a negative start undoubtedly. Witnessing a loss of 1.80%, the market witnessed a closure at 5185. There was a collapse of around 2.42% and 1.70% for Bank Nifty and the CNX IT respectively. Consequentially, there was significant pressure on sectors including banking stocks. Both private and public Sectors Undertakings and have further pushed the index southwards. Other sectors undergoing losses include Information Technology, energy majors and capital goods. In comparison to the marginal losses that the global markets encountered, the one experienced by the domestic indices were relatively lesser.

The trading bias will remain negative for anything below 5390 that the NIFTY VWAP (Volume Weighted Average Price) of the March series observed. The open interest saw 5400 call and 5100 put options for the March Series with respect to the data that has been accumulated. With IV’s ranging from 28 to 30, possible volatility towards the expiry can be expected. Suggestions supporting 5130 at downside from option writings in March are made. Sales will be triggered with this level being breached. At this point, it is recommended that the traders exit longs. The open interest put/call ratios currently stands at 1.11. Sustenance below the Nifty 200 – day moving average that is at 5160 can trigger long liquidation. Throughout this March series, cash segments have been constantly bought in by the FII’s.

Towards the end of March series, we may expect the rollover activity to gain momentum bearing in mind the present status. Bank and IT sectors have been experiencing a low rollover with changes in the medium term being expected. On the other hand, construction and NBFC sectors have been favored by strong rollover.

The index may trade in the range of 5130- 5275 in future with the option writers engaging in aggressive selling to hedge option writing positions if the index ranges below 5130. We can expect certain sectors including Banking, capital goods, metal experience selling pressure and other segments including Cement, Two- wheelers and FMCG outperforming and surpassing others. The pending rollover options can keep the Midcap stocks under pressure.

About Kotak Securities:
Kotak Securities is one of India’s leading share broking firm offering stock trading, mutual fund and IPO investing service’s along with a research division specializing in Sectoral research and Company Specific Equity Research. Express your views on their Facebook Page and Twitter Handle (@KotakSecurities) or you can also browse through their various videos on YouTube and Slide Share.

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Market News, Technical Analysis
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Record Date – Maharaja Shree Umaid Mills bonus shares

Posted by
at February 4, 2012

Maharaja Shree Umaid Mills has fixed 15 February 2012 as the record date for the purpose of issue of 1,72,80,000 fully paid-up bonus equity shares to the existing shareholders of the company in the ratio of 2:1.

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Bonus Issue, Record Date
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Tantia Constructions Rights Issue

Posted by
at February 4, 2012

Tantia Constructions’ board of directors will meet on 13 February 2012 to consider rights issue of equity shares.

Tantia Constructions is a civil construction player specialised in railway infrastructure, bridges, roads, highways, power transmission, pipelines, aviation, marine, urban development, and buildings.

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Rights Issue
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Oil India board to consider bonus issue

Posted by
at February 4, 2012

Oil India scheduled a board meeting on 11 February 2012 to consider issue of bonus shares and special interim dividend for the year ending March 2012.

Oil India is a public sector oil and gas company under the administrative control of the Ministry of Petroleum and Natural Gas of the Government of India. The company is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of liquid petroleum gas.

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Bonus Issue
1

Positive Views on Suzlon Energy

Posted by
at January 24, 2012

Suzlon has been seeing order inflow from India and abroad, mainly from Europe and US. After REpower 100% squeeze out the management has indicated that they have cash of about USD 1.5 billion, this quite comforting on the net debt of about Rs 12,000-12,500 crore. Suzlon, is a USD 5 billion top-line company and the long-term prospects are very good. In fact the company needs to improve its profitability.

Probably Q3 may not be able to give much comfort and not much can be expected from Q4. But going forward, FY13 will start giving comfort on the bottom-line. USD 5 billion top-line is quite comforting with Rs 25,000 crore top-line. Taking these into account, positive views are held on Suzlon. Suzlon can give a return of 40-45% in next one year.

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Market News, Recommendation
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Record Date – Radhe Developers Consolidation of Shares

Posted by
at January 24, 2012

Radhe Developers India Ltd has informed BSE that February 16, 2012 has been fixed as the Record Date for the purpose of Consolidation of Shares Capital of the Company i.e. Conversion of Equity Shares of face value of Re. 1/- each into face value of Rs. 10/- each.

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Record Date
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Record Date – Fame India Rights Issue

Posted by
at January 23, 2012

Fame India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 13, 2012 have approved January 25, 2012 to be the Record Date for the purpose of deciding the shareholders who are eligible to apply for Equity Shares on rights basis in the proposed Issue.

The company proposes to issue 2,02,90,508 equity shares on a rights basis to its existing equity shareholders aggregating to approximately Rs.8928 lakhs. The rights issue ratio is 58 equity shares for every 100 equity shares held by the shareholders as on the record date.

The company is issuing shares at a price of Rs.44 (inclusive of premium of Rs.34) per equity share. The face value per equity share is Rs.10. The rights issue opens for subscription on Tuesday – February 7, 2012 and closes for subscription on Tuesday – February 21, 2012. The Fame India Ltd stock closed the day at Rs.49.15, up by Rs.0.95 or 1.97%. The stock hit an intraday high of Rs.49.90 and low of Rs.47.25. The total traded quantity was 4113 compared to 2 week average of 55179.

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Record Date, Rights Issue
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