Sharemasterindia.com Share Market Update

Sensex ends 314 pts up on budget hopes, lower crude oil prices
 The Indian stock market ended the final session of the second quarter of the financial year on an upbeat note, as investors indulged in some hectic buying right through the session, buoyed by a notable drop in crude oil prices.

Investors also bet on expectations that the government will come out with some business friendly announcements in the forthcoming budget.

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Resistance & Support levels for27 June 2014

Stock Name	R1	R2	R3	R4	S1	S2	S3	S4
ONELIFECAP	187.3	190.6	193.9	203.8	180.8	177.5	174.2	164.3
SSWL	223.7	227.1	230.4	240.4	217.1	213.7	210.4	200.4
RPGLIFE	100.4	102.0	103.5	108.2	97.4	95.8	94.3	89.6
AARVEEDEN	56.7	57.7	58.6	61.5	54.8	53.8	52.9	50.0

Sharemasterindia.com Market Closing Update

Nifty ends below 7500 on June expiry; Oil & Gas falls 4%

The Indian stock market ended on a dismal note on Thursday, with the government's move to defer a decision on gas price hike by three months triggering a heay sell-off in the oil space.

Oil stocks, which started off on a weak note, stayed in the red right through the session, reeling under pressure. Though stocks from other sectors fared reasonably well early on, those from realty, banking and metal sections tumbled in afternoon trade, pushing the key indices Sensex and the Nifty to sharply lower levels.

The 50-share NSE Nifty saw heavy selling pressure in late trade on Thursday, the expiry day for June derivative contracts, closing tad below the 7500-mark weighed down by oil & gas and banks stocks. The market witnessed second highest turnover of Rs 6.83 lakh crore today with the NSE futures and options segment reporting turnover of Rs 4.28 lakh crore (second highest). The index slipped 76.05 points or 1 percent to close at 7493.20 and the 30-share BSE Sensex was down 251.07 points or 0.99 percent to 25062.67 but the fall in broader markets was less compared to benchmarks. The BSE Midcap and Smallcap indices declined 0.3 percent each. It was a bad close for the market on expiry day, say experts, adding it may see further fall in near term. However, they ruled out major correction ahead of Union Budget (on July 10).

Read more at: http://www.moneycontrol.com/news/local-markets/nifty-ends-below-7500june-expiry-oilgas-falls-4_1112802.html?utm_source=ref_article

 

Sharemasterindia.com Market opening Update

Sensex, Nifty flat; ONGC tanks 6%, BPCL & Gail fall 2-3%

Equity benchmarks started off Thursday's trade on a weak note weighed down by oil & gas stocks post deferment of revision in natural gas price.

The Sensex declined 26.57 points to 25287.17 and the Nifty fell 4.60 points to 7564.65. About 851 shares have advanced, 364 shares declined, and 45 shares are unchanged.

ONGC tanked 5.62 percent as the government postponed revision in natural gas prices by three months pending a "comprehensive" review to make a controversial pricing formula more palatable. The current USD 4.2 per million British thermal unit rate for gas, which would have jumped to USD 8.8 if a formula approved by the previous UPA government was implemented on July 1, will continue till September-end, Oil Minister Dharmendra Pradhan said.

BPCL and GAIL declined 2-3 percent. Maruti Suzuki, Cipla and Cairn India slipped marginally.
However, Bajaj Auto, M&M, Hero Motocorp, Tata Motors, Bharti Airtel, Bharti Airtel, BHEL and SBI advanced 0.8-1.2 percent.
The Indian rupee
 has opened flat at 60.09 per dollar on Thursday as against previous day's closing value of 60.12 a dollar.
The dollar languished near one-month lows against a basket of major currencies after revised US growth figures for the first quarter came in shockingly weak.

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Resistance & Support levels for 26 June 2014

Stock Name	R1	R2	R3	R4	S1	S2	S3	S4
KAKATCEM	143.1	145.0	147.0	152.8	139.2	137.3	135.3	129.5
SAVERA	45.7	46.6	47.4	50.1	43.9	43.0	42.2	39.5
NAHARCAP	83.1	84.1	85.0	87.9	81.2	80.2	79.3	76.4
NRBBEARING	94.8	95.8	96.8	99.8	92.8	91.8	90.8	87.8

Sharemasterindia.com Oil and Gas Sector Research

Sharemasterindia.com Oil and Gas Sector Update: 

 Post diesel, LPG/Kerosene monthly hikes likely


Our view


- The quantum of hikes and timelines for full deregulation could differ, but directionally this will be a very positive for the sector and a structural move towards higher profitability. Staggered price hikes (similar to diesel) are the best way to soften the blow and successfully pass on the under-recoveries.


- While the likely monthly LPG price hike quantum of INR5/cylinder seems doable, quantum could be higher given the affordability of urban consumers.


- On the kerosene front, along with monthly price hikes, government could also focus on direct benefit transfer so as to soften the impact on genuine consumers. Once the majority of genuine consumers are identified, then the government could go ahead to eliminate dual pricing to curb leakages for adulteration.


Likely 77% cut in under recoveries by FY17; ~16% upside to ONGC/OINL EPS


- Current loss in LPG and kerosene stands at INR433/cylinder and INR33/ltr and it will take 87 and 33 months for complete deregulation.


- With these monthly price hikes (diesel hikes already factored in base case) gross under recoveries would be cut by 77% by FY17 to INR317b v/s INR1.4t in FY14.


- Our base case estimates assume monthly diesel price hikes and if we also build in LPG and kero price hikes, the FY16 EPS will be higher by 14% to INR49.5/sh for ONGC and by 18% to INR85.5 for Oil India. And fair value of ONGC and Oil India could increase to INR566/sh (28% upside) and INR855/sh (43% upside).


- OMC’s will also meaningfully benefit (EPS increase of ~6% in BPCL/IOCL and ~15% in HPCL) from lower working capital with increasing LPG/kerosene prices.


Remain positive on ONGC/OINL in upstream and OMC’s


- We remain positive on ONGC and OINL in upstream due to (a) new gas pricing from FY15 (refer note dated June 19, 2014) and (b) likely diesel deregulation.


-  We also have a Buy rating on OMC’s (HPCL, BPCL and IOCL) due to likely meaningful earnings increase on account of (a) interest cost reduction led by diesel deregulation and (b) likely marketing margin increase.

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Resistance & Support levels for 25 June 2014

Stock Name	R1	R2	R3	R4	S1	S2	S3	S4
IBWSL	26.2	26.6	27.1	28.3	25.4	25.0	24.5	23.3
MAHINDUGIN	435.9	441.3	446.6	462.7	425.3	419.9	414.6	398.5
ZICOM	115.6	117.5	119.4	125.0	111.9	110.0	108.1	102.5
BROOKS	30.6	31.1	31.5	32.8	29.8	29.3	28.9	27.6

Sharemasterindia.com Stocks news update

Pidilite Ind Q4FY14: Recommends a dividend of Rs2.70 per share, buy

During Q4FY14, the company's consolidated revenue stood at Rs. 9906.0 mn. It has recommended a dividend of Rs. 2.70 per Equity share of Re. 1/- each for the financial year 2013-2014.

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Resistance & Support levels for 24 June 2014

Stock Name	R1	R2	R3	R4	S1	S2	S3	S4
MAHINDCIE	147.3	149.4	151.5	157.7	143.1	141.0	138.9	132.7
MAHINDUGIN	364.5	370.2	375.9	392.9	353.2	347.5	341.8	324.8
PFOCUS	49.0	49.7	50.4	52.5	47.7	47.0	46.3	44.2
VMART	354.3	358.5	362.8	375.6	345.7	341.5	337.2	324.4

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Resistance & Support levels for 23 June 2014

Stock Name	R1	R2	R3	R4	S1	S2	S3	S4
RAJESHEXPO	186.7	190.0	193.2	202.9	180.3	177.0	173.8	164.1
RELDIVOPP	21.7	22.0	22.4	23.3	21.1	20.8	20.4	19.5
MUKANDENGG	41.0	41.5	42.0	43.5	40.0	39.5	39.0	37.5
ICRA	2662.3	2699.4	2736.5	2847.9	2588.0	2550.9	2513.8	2402.4