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Trend Today Report

Trend Today Report (20 Feb 2018)

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Trend Today Report

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  1. 20TH FEB 2018

  2. Husains MARKET WRAP Benchmark indices closed below their 100-day moving average, with the Sensex losing 236.10 points to 33,774.66 and the Nifty down 73.90 points at 10,378.40 after recovered from day's low. Petronet LNG, Tata Global, Vakrangee, NIIT Tech, L&T Technology, PC Jeweller, Peninsula Land and Gitanjali Gems were down 2-10 percent. Bhushan Steel was up 20 percent. Rain Industries, Fortis Healthcare, United Breweries, Jet Airways and Kwality gained 3-8 percent. BROAD MARKET INDICES INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE NIFTY 50 10452.30 10488.90 10489.35 10302.75 10387.30 -0.62 NIFTY NEXT 50 29501.90 29560.85 29560.85 28971.35 29158.85 -1.16 NIFTY MIDCAP 50 5131.25 5137.80 5140.50 5018.20 5076.60 -1.07 NIFTY100 LIQ15 4376.20 4386.25 4386.50 4240.70 4323.90 -1.20 Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  3. ASIAN INDEX INDEX OPEN HIGH LOW CLOSE %CHANGE NIKKEI 225 21903.7 22153 21858 22149 1.94 HANG SENG 30958.7 31145 30817 31115 1.93 TAIWAN 30958.7 31145 30817 10421 0.47 SSE 3188.25 3203.5 3171.4 3199.5 0.45 INDIAN MAJOR SECTORAL INDICES INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE NIFTY BANK 25163.90 25324.60 25326.05 24824.55 25097.65 -0.26 NIFTY FIN SERVICE 10464.90 10539.10 10540.50 10354.70 10447.00 -0.17 NIFTY IT 12437.90 12474.15 12479.40 12228.80 12351.20 -0.70 NIFTY PHARMA 9180.90 9188.30 9198.65 8941.90 9028.20 -1.66 Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  4. STOCK UPDATE Bhushan Steel hits 20% upper circuit post Tata Steel’s takeover bid Bhushan Steel hit 20 percent upper circuit on Monday as investors cheered developments surrounding its takeover bid.Tata Steel emerged as the highest bidder for Bhushan Steel with a surprise bid of Rs 35,000 crore. JSW Steel, which was the favorite till the end of the race, was second placed with a bid of Rs 29,700 crore. Tata Steel’s stock fell around 5 percent intraday. A senior bank executive aware of the development confirmed the allotment to Tata Steel and the bid amount. Bhushan Steel is one of the 12 large corporate accounts identified by the Reserve Bank of India that accounted for almost 25 percent of exposure to bad loans for the entire banking sector. The Neeraj Singal-led company had accumulated debt of over Rs 50,000 crore, of which bank dues amounted to around Rs 44,000 crore. “We are happy with bid offer and this is a good sign. We have provided over 50 percent. The haircut is about 35 percent,” the banker said. The development follows a meeting between the lenders of Bhushan Steel and the resolution professional. According to reports, the liquidation value of Bhushan Steel stood at Rs 15,000 crore. Tata Steel and JSW Steel had submitted their bids on February 3. Initially, Tata Steel's bid was said to close to Rs 24,000 crore. Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  5. STOCK UPDATE Gitanjali's CFO, VP & board member quit Gitanjali Gems, which is embroiled in the Rs 11,400 crore PNB loan scam, today said two of its senior management officials including CFO Chandrakant Karkare, and a board member have quit. The company's Vice President (Compliance) and Company Secretary Pankhuri has resigned with effect from February 13, while Karkare has resigned from the post of CFO effective from February 15, Gitanjali said in a regulatory filing. Its board member Krishnan Sangameswaran has also resigned, the company added. The company's website was not accessible and said it was "currently undergoing scheduled maintenance". In the regulatory filing, Gitanjali Gems informed that its Chief Financial Officer (CFO) Karkare has resigned citing personal reasons. In his resignation letter, Karkare said: "Recently, my wife has undergone a major surgery called Hemicolectomy at Lilavati Hospital. The post operation recovery is not up to the expected level. This has resulted in restriction on me carrying responsibilities as CFO and will be very difficult for me in future. ...Kindly accept my resignation from the post of CFO with immediate effect." Gitanjali Gems has submitted a copy of the CFO's resignation letter to the BSE. Shares of Gitanjali Gems continued to fall for the fourth straight session today, plunging 10 per cent as investor sentiment remained muted after the company came under the scanner of various investigating agencies following PNB's Rs 11,400-crore fraud detection. Contact No. +91-903-977-7700 www.moneyclassicresearch.com

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