Despite surging in the past two sessions, the NSE Nifty opened marginally in green at 8,009, while the BSE Sensex gained 77-points at 26,469.
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A shaky start (31-08-2015)
Despite surging in the past two sessions, the NSE Nifty opened marginally in green at 8,009, while the BSE Sensex gained 77-points at 26,469.
ITC likely to test key resistance at ₹333 (31-08-2015)
ITC (₹327.55)
ITC recouped most of its losses, rebounding from the low of ₹312.35. The stock closed almost flat for the week. Key resistance is at ₹333 which is likely to be teste...
POKARNA LTD ( Stock opportunities ) (31-08-2015)
Spruce Point capital management's report about Caesarstone on why they are shorting this stock:
1.They collected quartz from multiple companies and did a lab test to find the amount of quartz in each one.As per Caesarstone,Pokarna and others,it should be 93% quartz and 7% polymer resin.Lab results of Caesarstone indicated less than 90% of quartz.
2.Less than 93% of quartz may be because of the 20% increase quartz raw material in the last 2 years.(Need to find out what is pokarna's agreement with Chettinad group for quartz on pricing).
3.Quartz is no longer a premium stone,there is a new stone called Dekton from a Spanish company called Cosentino is the new premium stone in the kitchen countertop.
4.Market Share gains by Caesarstone in US is not true.They looked at the import data for quartz into US and found that many other players were gaining market share from Caesarstone.Can be verified using this link:
http://www.stoneupdate.com/us-stone-imports/analysis-mid-yearannual/920-test-of-tables
This link shows imports from Indian increased 200% from Q1 of 2015 to Q2 of 2015.
5.Gross Margins of 42% in US is overstated because they included their FX gains,their margins in Singapore and Australia are 32% and 25% respectively.This is despite being a B2C player.Now,if we look at Pokarna's margins it is more than 70% gross and 25% Operating margins.
6.I have seen some reports using Freedonais' research report to identify market share gains of stone players.Spruce points mentions that Freedonia made those reports on behalf of Caesarstone and not completely unbiased.
Oil prices fall on profit taking, rate hike uncertainty (31-08-2015)
Oil prices fell in Asia on Monday as traders took profits, snapping gains last week that saw the biggest two-day rally in six years.
Brent crude futures for October delivery slipped nearl...
LIVE: Sensex down over 125 points on weak Asian cues, Nifty below 8,000 (31-08-2015)
(Photo: PTI)
9.36 am: Aurobindo Pharma shares rose over 3 per cent to Rs 779.70 in the early trade on BSE after the company on August 29 said it has received the final approval from the US Food & Drug Administration to manufacture and market Raloxifene Hydrochloride Tablets USP 60mg. Sensex was down 132.95 points at 26,259. NSE Nifty was down 35.30 points at 7,967.
9.26 am: Sensex was down 158.78 points at 26,233.60.
Domestic equity markets opened in green on Monday. The BSE Sensex and NSE Nifty opened 77.04 points and 7.3 points higher at 26,469.42 and 8009.25, respectively.
Shares of healthcare and information technology were trading in positive zone in the early trade.
Asian stocks fell on Monday after a US Federal Reserve official suggested a September interest rate hike still was possible and Japanese factory activity weakened.
The Shanghai Composite Index fell 2 per cent to 3,167.76 and Tokyo’s Nikkei 225 shed 1.1 per cent 18,920.90. Hong Kong’s Hang Seng retreated 0.3 per cent to 21,539.59.
(With inputs from agencies)
Sensex, Nifty in red (31-08-2015)
Sun Pharma, Wipro, Lupin, Cipla were among the gainers on NSE, whereas Coal India, Tata Motors, Tata Steel, Bajaj Auto were among the losers today.
Nifty can fall at opening bell: Maximus Securities (31-08-2015)
Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 49.5 points at the opening bell, says Maximus Securities.
Buy HCL Technologies with a target of Rs 970: Prakash Gaba (31-08-2015)
HCL Technologies Ltd is a 'BUY' call with a target of Rs 970 and a stop loss of Rs 940.
Bharti, Idea make it to Top 10 stocks post tariff hike (31-08-2015)
Glenmark Pharma, Zee Entertainment, followed by Airtel and Idea to lead the top 10 stock list.
Rupee slips; opens lower by 11 paise at 66.25 per dollar (31-08-2015)
Dips below 66/dollar will continue to attract demand from importers and any spike to the 66.30-66.40/dollar zone should lead to hedging by exporters, says Agam Gupta of StandChart Bank.