Ways2Capital Equity Research Report 21 Sep 2015

INDORE, India - Sept. 22, 2015 - PRLog -- TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Today nifty future and bank nifty future future open at 7965 / 17194 and made high of 8059 / 17642 and low of 7954 / 17090. Overall todays trend of nifty and bank nifty isbullish trnd. Nifty fture and bank nifty future close at 7965 / 17370. We can make long postion in nifty future and bank nifty future. It conitnue in bearish trend above the level of 7992 in nifty and 17387 in bank nifty. According to technical analysis if nifty futures and bank nifty future moves up trend in tomorrow treading session then 8064 will be small resistance for nifty futures and 17644 for bank nifty futures. If it break this level then then nifty futures can go to 8152 level and bank nifty futures can touch 18107 level in next few days. It will be hard resistance for nifty futures and bank nifty futures. Meanwhile in down trend there is small support on 7907 for nifty futures and 17092 for bank nifty futures after breaking this level with volume nifty will take support on 7822 level and bank nifty futures can touch level of 16367 .

NSE - WEEKLY NEWS LETTERS

TOP NEWS OF THE WEEK

✍ Hero Cycles to acquire rival Firefox Bikes - Hero Cycles has acquired rival Firefox Bikes in an all cash deal, the company announced on Thursday.The deal includes Firefox brand of cycles, accessories and spares along with exclusive distribution rights of ‘Trek’ and other global brands.Post the acquisition, Firefox Bikes will continue to remain a separate business entity with a distinct brand.Firefox has a network of 160 outlets across India and has been growing its revenue at a 3-year CAGR of 35%.“Through this acquisition, Hero Cycles will further expand its presence in all major categories of bicycles in India through its various brands such as Hero Cycles, UT, Firefox and UT Edge," said Pankaj Munjal, Chairman & MD, Hero Cycles.Hero Cycles will also expand the number of Firefox stores in India at a rate of 25% from the existing 160 stores.

✍ Jet Airways climbs 1% on raising capital - Shares of Jet Airways ended higher by 1% to Rs. 336 after the company  has raised USD80mn through a joint mop-up exercise with its partner Etihad. The funds are a part of the $500 million that Etihad raised along with its equity partners Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles, Alitalia and Jet Airways.The scrip opened at Rs. 338.25 and has touched a high and low of Rs. 338.45 and Rs. 334.5 respectively. So far 147033 shares were traded on the counter. The current market cap of the company is Rs. 3764.7 crore.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 543.5 on 02-Feb-2015 and a 52 week low of Rs. 203 on 26-Sep-2014. Last one week high and low of the scrip stood at Rs. 351.25 and Rs. 301.65 respectively.The promoters holding in the company stood at 51 % while Institutions and Non-Institutions held 15.46 % and 33.54 % respectively.

✍ India's edible oil import bill to touch US$14bn - India's annual edible oil import bill will rise by 14% to ~US$14bn owing to a second consecutive drought, industry body ASSOCHAM said on Thursday.India is the world’s biggest buyer of edible oil, which is the third-biggest import item after crude oil and gold.The country imports more than half of its edible oilrequirements in the form of palm oil from Malaysia and Indonesia, and soya oil from Brazil and Argentina.Monsoon rains were ~12% below normal in 2014 and the forecast is for a similar shortfall this year as well.“Vegetable oils imports would reach ~US$14bn for FY16 which was actually ~US$10bn last year,” D.S. Rawat, secretary general of ASSOCHAM, said in a statement.Edible oil imports were worth US$7.2bn in the fiscal year ending March 2014.

✍ SEBI to meet ratings agencies to get the real corporate picture - The Securities and Exchange Board of India is to hold a meeting with the  seven credit ratings companies including Crisil, ICRA, Care Ratings and India Ratings on Wednesday. The agenda of the meet is to discuss the ways in which credit profile changes impact the corporate bond market and the mutual fund industryCompanies like Jindal Steel & Power and Amtek Auto have been downgraded in the recently. This has brewed trouble for the bond players in the market. Sebi’s attempt to gain an insight into the industry so as to get a realistic picture of the corporate sector is natural, since mutual funds subscribe to corporate bonds, as per reports.While Sebi has asked fund houses about their exposure to corporate bonds, the market regulator is also prying into the ratings processes of the agencies, given the recent downgrade of two large manufacturing companies, as per the market regulator.The upwardly moving rating raises the bond prices and lowers yield of the bond. However, with the ratings being downgraded, bond prices get abated while the bond yield jumps up, said reports.

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