NDPMS Wealth Management

Nik's Diary The Indian market opened flat to negative mirroring the flat opening trades on the SGX Nifty. All the major Asian indices except Nikkei are trading in the red.  The U.S market stocks fluctuated over the course of the trading day on Thursday but largely maintained a positive bias before ending the day notably higher. The markets benefited from a positive reaction to some upbeat news from overseas. The major averages ended the day firmly in positive territory, adding to the gains posted in the previous session. Meanwhile, the majority of the European markets ended Thursday's session in negative territory. The strong Chinese export data had  provided a boost in early trade, but the markets struggled to find direction following the decisions of both the ECB and the BoE to maintain their respective interest rates. The domestic markets surrendered initial gains to end on a flat note on Thursday, as gains in bank, oil/...

Index of Industrial Production   Performance on sectoral basis   On a yoy basis, Mining witnessed a 5.5% decline during the month as compared to flat performance in the previous month reflecting the decline in production of coal and natural gas. Growth in Electricity decelerated to 2.4% as compared to a healthy growthof 5.5% in the previous month and 14.6% in November 2011.  The Manufacturing sector, accounting for  75.5% of the overall index reported a marginal 0.3% growth during the month as compared to 9.8% in October 2012 and 6.6% in November 2011. On a positive note, growth in manufacturing remained in the positive territory for the third consecutive month on a 3MMA basis. On a cumulative basis, in the April - November 2012 period, Mining reported a 1.6% decline while the Manufacturing and Electricity sectors reported growth of 1.0% and 4.5% respectively.   Performance in the Use-based category   Under the ...

Infosys 3rd Quarter Results Infosys surprised the street with better-than-expected results for 3QFY2013 and also raised its full year guidance, contrary to our as well as street expectations of reducing it. Revision of guidance indicates that the management is confident about growth prospects in the short to medium-term versus last few quarters. The company kept its organic revenue growth guidance for FY2013 intact at 5% yoy while including Lodestone’s acquisition the company expects full year FY2013 dollar revenues to grow by at least by 6.5% yoy. Quarterly highlights: For 3QFY2013, Infosys reported revenue of US$1,911mn, up 6.3% qoq. On organic basis, dollar revenues grew by 4.2% qoq. Volume growth was tepid though at 2.0% qoq. One more positive take away was that despite giving offshore wage hikes the company’s EBIT margin declined by just 66bp qoq to 25.7% as opposed to a decline of ~100bp that was expected. The PAT came in at `2,369cr, flat ...

Nik's Diary The Indian market opened flat to negative tracking the flat opening of SGX Nifty. Most of the Asian markets are trading in the red.  US stocks saw moderate weakness during trading on Monday, giving away some ground after moving sharply higher last week. However, the selling pressure was relatively subdued, and the market held on to the bulk of its recent gains. The major averages ended the day in negative territory but well off their lows for the session. The European markets finished  in negative territory on Monday, as investors took profits following the strong gains at the end of the previous trading week. Investors are continuing to evaluate the potential impact of the debt ceiling situation in the US and are preparing for the beginning of the US earnings season. Indian shares fell on Monday, with selling accelerating late in the session, weighed down by weakness in other Asian markets and European stock...

Automobile Tata Motors to weigh on earningsperformance. We expect our coverage automobile universe excluding. Tata Motors to report a strong 16.4% yoy earnings growth. Tata Motor's performance is expected to weigh on the sector due to weak standalone performance and high base effect at JaguarLand Rover (JLR). We expect Maruti Suzuki and Mahindra and Mahindra to be the core growth drivers of our coverage universe in 3QFY2013. Maruti Suzuki is expected to register an strongbottom-line growth on account of the low base of last year and sharp revival in volumes post the Manesar strike while Mahindra and Mahindra is likely to witness a strong bottom-line growth driven by growth in volumes and improvement in realization. Banking  Private Banks to outperform PSU peers We expect private banks to continue outperforming their PSU peers on the earnings front. Amongst our coverage private banks, we expect larger ones ...

Nik's Diary The Indian market was expected to open flat to negative tracking  and flat opening in SGX Nifty. Most of the Asian markets were trading in the red.  US stocks moved mostly higher over the course of the trading day on Friday, although buying interest was somewhat subdued. The markets benefited from a positive reaction to the release of some relatively upbeat economic data. Most major averages finished the day in positive territory, with the S&P 500 reaching its best closing level since December of 2007. The European markets overcame their early weakness on Friday and ended the session in positive territory. The initial weakness was caused by indications that policymakers in the US would probably end their $85 billion monthly bond-purchase program before year-end. However, the markets recovered following the release of US jobs report for December, which was in line with expectations. Indian shares rec...