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Trend Today Report

Trend Today Report (21 Feb 2018)

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Trend Today Report

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  1. 21TH FEB 2018

  2. Husains MARKET WRAP Benchmark indices wiped out gains in last hour of trade after further correction in rupee that fell a percent intraday against the US dollar. The 30-share BSE Sensex was down 71.07 points at 33,703.59 and the 50-share NSE Nifty declined 18 points to 10,360.40.The market breadth was weak as about 1,464 shares declined against 1,261 advancing shares on the BSE. Among midcaps, Tata Global, Biocon, Voltas, Radico Khaitan, Bhushan Steel and Just Dial were down 1-3 percent while Canara Bank, IDBI Bank, Indian Bank, Union Bank, Fortis Healthcare, Apollo Tyres, Titan Company and PC Jeweller gained 1-5 percent. BROAD MARKET INDICES INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE NIFTY 50 10387.30 10391.00 10429.35 10347.65 10360.40 -0.17 NIFTY NEXT 50 29158.85 29211.90 29437.10 29081.10 29315.70 0.46 NIFTY MIDCAP 50 5076.60 5071.80 5106.50 5045.90 5065.35 -0.13 NIFTY100 LIQ15 4323.90 4325.75 4355.80 4293.50 4311.35 -0.06 Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  3. ASIAN INDEX INDEX OPEN HIGH LOW CLOSE %CHANGE NIKKEI 225 22054.3 22064 21831 21925 -1.02 HANG SENG 31165.3 31340 30720 30874 -0.78 TAIWAN 2433.35 2438.5 2411.2 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 25097.65 25105.55 25158.10 24829.00 24874.40 -0.73 NIFTY FIN SERVICE 10447.00 10481.80 10498.90 10360.60 10381.10 -0.54 NIFTY IT 12351.20 12272.95 12491.60 12268.55 12372.00 0.33 NIFTY PHARMA 9028.20 9054.45 9086.50 8982.10 9020.75 -0.08 Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  4. STOCK UPDATE IndiGrid buys into transmission company, completes acquisition of 3 Sterlite Power assets IndiGrid, an infrastructure investment Trust (InvIT), has completed the acquisition of three assets from its sponsor Sterlite Power Grid Venture Ltd. The Trust has also acquired a 46 per cent stake in the transmission asset of Techno Eletric & Engineering Company. The asset, Patran Transmission Company Limited, has a sub-station in Patran, Punjab, and transmission lines that connect Kaithal-Patiala. InvITs are investment vehicles that own operating infrastructure assets in India. While the three assets from Sterlite Power will come with a price tag of Rs 1,410 crore, IndiGrid is acquiring the Patran-stake for Rs 230 crore. The Patran acquisition agreement was signed on Monday, and will be completed by March. “Post the acquisitions, IndiGrid’s total portfolio increases to 13 transmission lines and two substations operational across eight states in India. At present its assets stand at Rs 5,300 crore. The three assets from Sterlite Power consists of five transmission lines, aggregating 1,425 km. "All these acquisitions are highly accretive and will increase portfolio IRR to 11 per cent," said Agrawal. He added that the deals will enable IndiGrid to deliver a DPU (distribution per unit) of Rs 12 for the next five years. Contact No. +91-903-977-7700 www.moneyclassicresearch.com

  5. STOCK UPDATE Rotomac bank fraud: I-T dept attaches 11 bank accounts After the CBI and the ED, the Income Tax Department has stepped up action against the Rotomac group and its promoters. Attaching 11 bank accounts in connection with an alleged tax evasion probe against them, officials said today. The accounts in various bank branches in Uttar Pradesh were attached last night.The provisional attachment action has been carried out to "recover outstanding tax demands", understood to be about Rs 85 crore, the officials said. Three bank accounts of the group were attached in January last year by the department, they said. The Kanpur-based group is being probed by the CBI and the Enforcement Directorate in connection with an alleged bank loan fraud of Rs 3,695 crore, given by a consortium of seven banks. The CBI had registered a criminal case against Rotomac Global Pvt Limited, its Director Vikram Kothari, his wife Sadhana Kothari and son Rahul Kothari and unidentified bank officials on a complaint received from Bank of Baroda and conducted raids against them yesterday. It was alleged in the complaint from the Bank of Baroda that conspirators cheated a consortium of bank loans to the tune of Rs 3,695 crore including the interest component, CBI officials said. Contact No. +91-903-977-7700 www.moneyclassicresearch.com

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