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Investment Guru India 2019-08-13 09:17:39

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Nifty Outlook

Nifty extended its rebound and posted decent gains, thanks to favourable local cues and supportive global markets. Participants are hopeful of some action after the meeting of industry leaders with the FM on Thursday. Besides, a scheduled meeting of the overseas investors with the FM on Friday, to ease their tax concerns further boosted the sentiment. The mixed trend was witnessed on the sectoral front wherein banking, auto and financials outshined the others.

We expect some consolidation in the index around the current levels prior to further up move. We’re now eyeing 11,250 in the Nifty and 10,950-11,000 zone would act as a cushion, in case of any decline. Having said that, the trend has not reversed yet so we advise keeping a positive yet cautious approach and maintaining extra caution in the stock selection. 

 

Stock in News

* SpiceJet reported Q1FY20 revenue at Rs 3,003cr, up by 35% YoY. EBITDA grew by 775% YoY to Rs 684cr while margins stood at 22.8% vs 3.5% in Q1FY19. The exceptional growth in EBITDA and margins was partly because of the shift towards IND AS 116. Profit for the quarter came in at Rs 262cr against loss of Rs 38cr in Q1FY19. The airline’s fleet at the end of the quarter stood at 107 (32 of which it added in Q1FY20).

* Britannia Industries’ Q1FY20 consolidated revenue grew by 6% YoY to Rs 2,700cr. On operational front, EBITDA grew marginally by 1% YoY to Rs 395cr while margins contracted by ~70bps to 14.6%. Profit for the quarter reported de-growth of 3% YoY at Rs 251cr on account of exceptional loss of ~Rs 15cr. Adjusting for this one-time loss, profit grew by 3% YoY.

* MRF’s Q1FY20 consolidated revenue grew by 15% YoY to Rs 4,471cr. On operational front, EBITDA grew by 5% YoY to Rs 612cr while margins contracted by 140bps to 13.7%. Further, profit for the quarter grew by 2% YoY to Rs 237cr. 

 

Religare Super Ideas

United Spirits Limited (MCDOWELL-N) 

Buy United Spirits Ltd @ 605-608 Stoploss 588 Target 645 CMP 605.10

After spending nearly one month in a consolidation zone, MCDOWELL-N is currently trading on the verge of fresh breakout from the same. Further, the chart pattern and existence of support zone of multiple moving averages is adding to the confirmation. We suggest initiating fresh longs as per the given levels.

 

Kotak Mahindra Bank Limited (KOTAKBANK)

Buy Kotak Mahindra Bank Ltd @ 1525-1530 Stoploss 1495 Target 1595 CMP 1532.10

KOTAKBANK is one of the strongest counter in private banking space and trading at its record high. Today, i.e. on Aug 9, it has surged strongly supported with decent rise in volume and now trading on the verge of breakout from its two months long consolidation phase We advise initiating fresh longs as per the recommended levels.

 

Derivative Ideas

BAJFINANCE

added around 4% in open interest as long buildup was seen in it in previous session. Current chart pattern also indicates further up move in its price. We suggest buying BAJFINANCE 3450 CE as per below levels.

Strategy:- BUY BAJFINANCE 3450 CE BETWEEN 60 - 65, STOPLOSS AT 40, TARGET 110.

 

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