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Friday, 31 March 2017

Shri Nara Chandrababu Naidu, Hon’ble Chief Minister of Andhra Pradesh and Mr. Shiv Nadar, Founder & Chairman, HCL& Shiv Nadar Foundation, today signed an MoU to open a state-of-the-art Global IT Development and Training Centre at Vijayawada. The ceremony was attended by senior Government officials and the leadership team of HCL.

HCL aims to hire, employ and train 5000 local residents in the region with a plan to leverage a gender equal workforce. The selected candidates will undergo a rigorous training program by industry experts on skills required for working for global customers of HCL. The centre will also work on developing innovative high-end technologies for global clients.  The centre is a part of the State Government’s ambitious plan to promote holistic growth and boost IT investment within the state.

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Glenmark Pharmaceuticals Inc., USA (Glenmark), has been granted tentative approval by the United States Food & Drug Administration (U.S. FDA) for Milnacipran Hydrochloride Tablets, 12.5 mg, 25 mg, 50 mg and 100 mg, the generic version of Savella Tablets, 12.5 mg, 25 mg, 50 mg and 100 mg of Allergan Sales, LLC.

Glenmark Pharma's stock is trading higher by 0.4% on BSE at Rs 867.4 per share in Friday’s morning trade. The BSE Healthcare index is also trading in positive territory, higher by 0.3% at 15333 levels.

Pharma major, Sun Pharma is the biggest contributor to the index gains in the morning trade. Torrent Pharma's stock is the top gainer in the index, trading higher by 3.13% at Rs 1535 per share.

Though the major indices in the market are showing weakness in the morning hours of Friday’s trade, the pharma stocks are trading firmly, outperforming the major indices.
 
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Hindustan Oil Exploration Company's stocks are surging nearly 3%, as the company announced successful completion of 4 wells and commissioning of a pipeline and gas gathering station.

The entire surface facilities have been tested by a test production by Oil India Ltd. Oil India being the licensee is in the process of obtaining a Petroleum Mining Lease from the Government of Assam on the recommendation of GoI.

The stock has outperformed both BSE Small-cap index and BSE Oil & Gas index on a yearly basis. Hindustan Oil Exploration Company Limited (HOEC) is an oil and gas company. The Company's activities relate to exploration and production of hydrocarbons, which are natural resources. BSE Oil & Gas index is trading up 300 200 points or 1.51% at 13518 levels.

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Tata Sons, a holding company of the Tata Group is working on a strategic restructuring plan. The restructuring means that some new faces will appear among the second-rung executives of the group. To begin with, a new chief operating officer (COO) is to appointed to the holding company of the $103 billion conglomerate. It is also in the process of appointing a chief financial officer (CFO).

While at the level of vice-president and above in the parent company, some other changes are likely to be made.As per a leading English daily, a few of the group companies may have new chief executives and managing directors. Tata Sons currently is looking at appointing a CFO soon. Recently, Ankur Verma, former managing director (investment banking) of Bank of America Merrill Lynch, has been brought by the group in the Tata Son’s chairman’s office.

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The board of Kotak Mahindra Bank, on Thursday, unanimously approved issue of equity shares, Global Depository Receipts, American Depository Receipts and other permissible securities, to raise capital, upto an aggregate issuance of 6.20 crore equity shares of Rs 5 each.

Kotak Mahindra Bank is aiming to achieve couple of targets simultaneously, pulling down promoter shareholding in accordance with the requirements put forth by RBI; and reserving funds for possible acquisition of either a bank or an NBFC, over the proposed issuance of upto 6.20 crore equity shares, aggregating to over Rs 5,000 crore. At Thursday’s closing price of Rs 865 a share, the issuance of 6.20 crore shares could fetch the bank Rs 5,363 crore.


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Stocks of JMC Projects (India) Limited rallied 4% as the company on Thursday said that it has bagged an order worth Rs 1058 crore. The stock on the BSE witnessed a huge spurt in volume by more than 2.35 times on Friday.

The civil engineering and EPC company has received orders for a residential building project in Thane worth Rs 531 crore; and two commercial building projects in Bangalore worth Rs 527 crore. The stock on the NSE has delivered over 21% returns in a period of one year, underperforming the BSE Small-cap and BSE Realty indices over the same time span.

JMC Projects (India) Limited is an India-based engineering and construction services company. The company is engaged in the construction of buildings and other structures. It executes various types of projects involving construction services that include design, procurement, supply, installation, testing and commissioning.
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Thursday, 30 March 2017


Stocks of Hitech Plast are surging over 5% as the company has commenced its operations in its Rohtak unit. The manufacturing operations of the Rohtak plant had been disrupted due to the agitation in Haryana.

The Rohtak plant has started its operations from March 28, 2017. The stock has underperformed BSE Small-cap index on a yearly basis. The stock opened at Rs 159.85 per share, touched an intraday high of Rs 167 per share; and a low of 159.85 per share.

Hitech Plast Limited is engaged in manufacturing of packaging products of plastics. The Company operates through Plastic Containers segment. The Company is also a manufacturer of paint pails/containers. Hitech Plast Ltd is currently trading at Rs 164, up by Rs 8 or 5.13% from its previous closing of Rs 156 on the BSE.

So far 34915(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 267.94 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 223.45 on 21-Oct-2016 and a 52 week low of Rs 140.8 on 21-Nov-2016. Last one week high and low of the scrip stood at Rs 160.5 and Rs 155.7 respectively. The promoters holding in the company stood at 74.43 % while Institutions and Non-Institutions held 0.08 % and 25.49 % respectively. The stock is currently trading above its 200 DMA.

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The much-hyped board meeting of Kotak Mahindra Bank was held on March 30, 2017. The board has approved the proposal of capital raising through the issue of equity shares, global depository receipts, American depository receipts and/or other permissible securities up to an aggregate issuance of Rs 6.2 cr equity shares of Rs 5 each.

The capital raising is planned through the rights issue, public issue or private placement, including a Qualified Institutional Placement (QIPs) or through any other permissible mode. The capital raising plan is aimed at pursuing consolidation opportunities in the Indian banking and financial services space. It is also aimed at capitalising on unprecedented opportunities in acquisition and resolution of stressed assets in the banking sector, including participation in a ‘bad bank’.

The company would also focus on growth of subsidiaries by using the proceeds from the new capital raising plan. The stock is trading flat with some positive bias in the afternoon hours of Thursday.

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Nitesh Estates, a Bangalore based luxury property developer, is planning to grow its rental and commercial assets to more than 5 million sq. ft., of space. Heading towards its goal, Nitesh Estates for its Commercial and Rental Business announced the appointment of Mahesh Laxman as chief executive officer.

Nitesh Estates with an investment of around Rs 1500 cr will develop and acquire A-Grade commercial & rental assets across multiple projects. This includes locations in the central business districts and significant micro markets of Bengaluru.

Nitesh Estates on the NSE has delivered negative returns of 27% in a period of one year, underperforming the BSE Small-cap and BSE Realty indices over the same time span.

Nitesh Estates Ltd is currently trading at Rs 8.56, up by Rs 0.39 or 4.77% from its previous closing of Rs 8.17 on the BSE. The scrip opened at Rs 8.4 and has touched a high and low of Rs 8.7 and Rs 8.3 respectively. So far 316663(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 119.14 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 15.4 on 23-Aug-2016 and a 52 week low of Rs 7.13 on 17-Feb-2017. Last one week high and low of the scrip stood at Rs 8.95 and Rs 8 respectively.

The promoters holding in the company stood at 46.52 % while Institutions and Non-Institutions held 23.04 % and 30.44 % respectively. The stock is currently trading above its 200 DMA.

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The well-known company in metal industry, Vedanta Limited’s board of directors have approved the second interim dividend, which collectively stands at Rs 6580 cr, including the Cairn India shareholders.

The second interim dividend is Rs 17.7 per equity share, that is 1770% on the face value of Rs 1 per equity share for the financial year 2016-17. The record date for the purpose of payment of dividend is April 12, 2017. The board has also approved the dividend of Rs 17.7 per equity share to the shareholders of Cairn India Limited.

The stock of Vedanta Limited touched high of Rs 273.8 per share, up by nearly 2%. Vedanta Limited is a natural resource company, engaged in the business of manufacturing copper and copper products, and aluminium and aluminium products. 

Vedanta Ltd is currently trading at Rs 269.75, up by Rs 0.95 or 0.35% from its previous closing of Rs 268.8 on the BSE. The scrip opened at Rs 269.3 and has touched a high and low of Rs 273.8 and Rs 268.2 respectively. So far 10343155(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 79690.98 crore.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 275.4 on 02-Mar-2017 and a 52 week low of Rs 84.9 on 08-Apr-2016. Last one week high and low of the scrip stood at Rs 270.2 and Rs 260 respectively.

The promoters holding in the company stood at 62.86 % while Institutions and Non-Institutions held 23.8 % and 13.34 % respectively. The stock is currently trading above its 50 DMA.

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Subros Ltd.'s stock is surging up by nearly 10% on BSE, as markets are nearing lunch hours, since the auto component maker has reopened its Manesar plant after a major fire accident in May 2016.

Subros provides air conditioning compressors to Maruti Suzuki. Besides its plant at Manesar, Subros has manufacturing units at Noida, Pune, Chennai and Sanand with an annual capacity of 1.5 million AC Kits per annum. It also has a well equipped R&D Centre and Tool Room at Noida. 

Subros Limited, founded in 1985, is the leading manufacturer of thermal products for automotive applications in the country. It has technical collaboration with Denso Corporation, Japan. BSE Auto Index is gaining in trade, up by 33 points or 0.15% at 21955 levels.

Subros Ltd is currently trading at Rs 213.35, up by Rs 17.95 or 9.19% from its previous closing of Rs 195.4 on the BSE.

The scrip opened at Rs 197.95 and has touched a high and low of Rs 218.9 and Rs 197.5 respectively. So far 429159(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1172.18 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 205.9 on 20-Feb-2017 and a 52 week low of Rs 77.5 on 30-May-2016. Last one week high and low of the scrip stood at Rs 201.3 and Rs 184.75 respectively. The promoters holding in the company stood at 40.01 % while Institutions and Non-Institutions held 5.49 % and 54.5 % respectively. The stock is currently trading above its 50 DMA.

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Rajesh Exports stocks are soaring high as it has bagged order for its products, worth Rs 887 crore . The order has been procured from a global competition after beating an importer from UAE. The stock has underperformed BSE Mid-cap index on a yearly basis.

With this current order, which is to be executed by July 2017, the order book at the consolidated level stands at Rs 37928 crores. Rajesh Exports Limited is engaged in the business of gold and gold products. The Company is engaged in manufacturing and marketing jewelery to consumers across the world. 

BSE Consumer Durables index is trading up by 185 points or 1.24% at 15077 levels. Rajesh Exports Ltd is currently trading at Rs 605.4, up by Rs 20.85 or 3.57% from its previous closing of Rs 584.55 on the BSE. The scrip opened at Rs 586 and has touched a high and low of Rs 613.2 and Rs 586 respectively.

So far 743042(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 17261.76 crore. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 643.75 on 05-Apr-2016 and a 52 week low of Rs 422.5 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 589.7 and Rs 555.1 respectively.

The promoters holding in the company stood at 53.94 % while Institutions and Non-Institutions held 19.74 % and 26.32 % respectively. The stock is currently trading above its 50 DMA.

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Coal India Limited (CIL), the largest coal producer company in the world has planned to make a debut in the private mining consultancy services sector. The projected expansion process is expected to take place later this year.

To implement its services in mine planning, exploration, and design, CIL has engaged its subsidiary, Central Mine Planning and Design Institute (CMPDI) in association with the Oil Ministry, and has been receiving consultancy orders from private companies.

CIL is gearing up to broaden its consultancy wing as it seeks bright opportunities to become a major mining consultant for state and private companies.

Stocks of Coal India Limited, at 10.45 am on Thursday, were trading at Rs 292.50, down by
Rs 1.50 or 0.50% from its previous close at Rs 294.05 on the BSE.


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Minda Industries, an auto component maker, has raised Rs 300 crore via Qualified Institutional Placement (QIP). The firm is a flagship company of Uno Minda Group. The Company exercised its green shoe option, and upsized the issue to Rs 300 crore, as the proposed initial issue size of Rs 275 crores was oversubscribed 2x times.

Leading investors from India and the globe have participated in the issue, which includes, IDBI Federal, HSBC Global, Canara Robeco, DSP Blackrock, Sundaram, IDFC, Lloyd Baughan and Bajaj Allianz among others.

The QIP is priced at Rs 423 per share (including premium of Rs 421 per share for equity shares of face value Rs 2 per share). The capital raised shall be used for CAPEX and the ongoing consolidation exercise. Minda Industries Ltd is currently trading at Rs 439.5, up by Rs 1.85 or 0.42% from its previous closing of Rs 437.65 on the BSE.

The scrip opened at Rs 441 and has touched a high and low of Rs 445.95 and Rs 438 respectively. So far 35567(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3471.74 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 452.25 on 01-Mar-2017 and a 52 week low of Rs 185.25 on 29-Mar-2016. Last one week high and low of the scrip stood at Rs 441 and Rs 429 respectively.

The promoters holding in the company stood at 74.02 % while Institutions and Non-Institutions held 6.46 % and 19.52 % respectively.

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