Another trade

Sell 1 lot for icici bank @ 285 target is 283

Today intra trade

Sell axis bank  eq at 542 target today is 538

JSW steel stock update

Buy JSWsteel @ current rate.

Buy JSWsteel 980 PE @Current rate.

Wait till this month expiry.Profit will be 10000.

Stock update

Buy Maruti future @ current rate
Buy Maruti 3500 pe@ current rate

please wait till this month Expiry .

Nifty end at near 8-month low

The BSE Sensex continued its losing streak for the sixth straight session on Tuesday, falling further by 41.84 points, on sustained selling by funds and retail investors coupled with weakening global markets. NSE Nifty fell for the seventh consecutive session today as the selling pressure continued but it defended 8000-mark. Healthcare, technology, capital goods and select oil stocks dragged while banks and metals stocks supported. The index declined 21.75 points to 8022.40, the lowest closing level since October 27, 2014. The 30-share BSE Sensex slipped 41.84 points to 26481.25. Even as the market continued to reel under pressure, there's no dearth of optimism. 

About 1058 shares advanced against 1580 shares declined on the Bombay Stock Exchange. Global cues were weak today. In Asia, Nikkei, Hang Seng and Shanghai lost 0.4-1.8 percent. European markets, too, were trading in the red.

Brokers said sustained selling by participants on prevailing drought fears and a weak trend in global markets amid concerns of an early interest rate hike by the US Fed after Friday's strong jobs report mainly dampened mood. 

Banks stocks gained after the RBI issued new strategic debt restructuring norms. ICICI Bank, Axis Bank and SBI gained 0.9-1.4 percent. Housing finance company HDFC also rose 0.9 percent. Commercial vehicle maker Tata Motors gained 1 percent. Diesel & Motor Engineering Plc (DIMO) together with Tata Motors today launched its two new cars, Zest and Bolt, for the Sri Lankan market. 

However, Cipla topped the selling list on Sensex, down 3 percent. Brokerage Bank of America Merrill Lynch feels the launch of asthma drug by Mylan in the UK is negative for Cipla because earlier the drug maker was expected to be the first company to launch this drug.Cairn India shares slid 4.46 per cent and Vedanta scrip gained around 3 per cent after the news that the oil and gas major is set to be merged with the metals giant. On the other hand, realty major Unitech declined 7.70 per cent after the national consumer court NCDRC ordered it to pay compensation for delayed delivery of flats to buyers.

Nestle India gained 7.5 percent after its Maggi noodles manufactured in India met Singapore's food safety standards. Shares of ITC, Sun Pharma, Dr Reddy’s Labs, ONGC and Wipro were other prominent losers, down 1-2 percent.

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HDFC board approves raising Rs 5000 cr via NCD

HDFC Board has approved raising Rs 5000 crore via non convertible debentures (NCD) along with warrants resulting in a 2.2 percent equity dilution. According to the sources, the approval to raise money is not for any immediate requirement but for any need that may arise in the coming two-three years.
Housing Development Finance Corp (HDFC) – the largest mortgage lender of the country today said its board has approved funding rising worth Rs 5,000 crore simultaneously by secured redeemable non-convertible debentures along with warrants.
The lender will seek shareholder’s approval in its annual general meeting (AGM) scheduled 28 July. The warrant holder will be entitled to exchange the warrants with the equity shares of HDFC at a premium and in line with present norms, the financier said in a notification to the exchanges. 

The maximum dilution that could take place in future, if all the warrants are exchanged into equity shares of the corporation, would be 2.2% of the expanded equity share capital,” HDFC said. The NCDs together with the warrants will be issued to qualified institutional buys, it further added.
According to sources familiar with the development, the funds will be used for making provision for deferred tax liability, financing business growth and also could be used to increase or retain current stake in HDFC Bank. HDFC’s stake in HDFC Bank – the second largest private sector bank -- has fallen to 21.7% from 22.5% after the latter’s qualified institutional placement.
HDFC will also have to entire provision for deferred tax liability over the next three years, -- 25% in the first two years and 50% in the third year.Proceeds would also be used to meet the regulatory requirement for providing for deferred tax liability, which has been eating into its profits. According to analyst there was a 7 percent impact because of this deferred tax liability provision

HDFC has three-year window to make provision of about Rs 2200 crore, which it plans to do in tranches. Another reason why it needs to raise money to make provisions is to maintain its capital adequacy ratio. Currently, HDFC’s Tier I capital stands at 12.3 percent which is expected to get eroded once it makes these provisions. Therefore, some of the proceeds from this NCD will also be used to bridge that gap too.

The outstanding loan book f HDFC grew by 16% in 2014-15 which stood at Rs 2.28 lakh crore compared with Rs 1.97 lakh core as on March of 2014, after taking into account the loans sold during the year.

In the upcoming AGM HDFC will get shareholder approval to raise the money in one-two year timeframe.