Base metals may slip further; sell copper on rise: NBang

Nirmal Bang's report on base metals

Industrial metals prices dipped to its lowest level in nearly two weeks yesterday as persistent concerns about credit tightening in top metals consumer China offset upbeat manufacturing growth there.

Copper is expected to end the year 8 percent lower, and tumble further in 2014 as demand struggles against strong supply growth from new and existing mines, a Reuters poll showed.

Kazakh miner Kazakhmys said on Thursday it was on track to hit the "upper end" of its output guidance for 2013, despite a steeper-than-expected dip in production in the third quarter as weak grades continued to weigh.

Nyrstar, the world's largest producer of zinc, on Thursday said it would mine less zinc in concentrate than previously expected, due to operational problems at two of its mines in the United States and Canada.

Brazil imported 4,420 tonnes of aluminium in the month, compared with 3,894 tonnes in September 2012, according to figures from the country´s trade minister. In January-September, exports amounted to 26,970 tonnes, from 29,624 tonnes in the corresponding period last year.

Copper miner Tiger Resources has set a new quarterly production record at its 60 percent-owned Kipoi copper project, in the Democratic Republic of Congo (DRC). Tiger produced 12 123 t of copper in concentrate from its heavy-media separation plant in the September quarter.

FUNDAMENTAL OUTLOOK: Industrial metals prices are trading lower on international bourses. We expect a further downside in the prices of metals on account of higher supplies in local Chinese markets. Copper in particular can be sold on rallies.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Sell BHEL Oct Fut; target of Rs 130: IIFL

Oct 25, 2013, 12.25 PM IST

According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.

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Sell BHEL Oct Fut; target of Rs 130: IIFL

According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.

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Sell BHEL Oct Fut; target of Rs 130: IIFL

According to IIFL, traders can sell BHEL October Futures below Rs 138 for target price of Rs 130 with a stop loss of Rs 142.

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IIFL's research report on Bharat Heavy Electricals (BHEL)

"On the daily chart, BHEL has reversed from the resistance line which coincides with its 100-DMA, suggesting that the likelihood of further upside over the short-term has diminished. For now, the risk/return of establishing long positions is less than ideal. Moreover, the stock has broken below the small consolidation pattern between Rs152-142. It presents great opportunity for the traders to jump in on the downtrend. An occurrence of this event indicates further selling and continuation of the downtrend. (Duration 5 days)," says IIFL research report.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

Action in Bharat Heavy Electricals

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Vantage Corporate Services' board meeting on Oct 31, 2013

Oct 25, 2013, 12.29 PM IST

Vantage Corporate Services has informed that a meeting of the Board of Directors of the Company will be held on October 31, 2013, to consider and take on records the Unaudited Financial Results of the Company for the quarter ended September 30, 2013 & also to consider the Appoint of Additional Director.

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Vantage Corporate Services' board meeting on Oct 31, 2013

Vantage Corporate Services has informed that a meeting of the Board of Directors of the Company will be held on October 31, 2013, to consider and take on records the Unaudited Financial Results of the Company for the quarter ended September 30, 2013 & also to consider the Appoint of Additional Director.

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Vantage Corporate Services' board meeting on Oct 31, 2013

Vantage Corporate Services has informed that a meeting of the Board of Directors of the Company will be held on October 31, 2013, to consider and take on records the Unaudited Financial Results of the Company for the quarter ended September 30, 2013 & also to consider the Appoint of Additional Director.

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Vantage Corporate Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2013, to consider and take on records the Unaudited Financial Results of the Company for the quarter ended September 30, 2013 & also to consider the Appoint of Additional Director.Source : BSE

Read all announcements in Vantage Corp

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Don’t see QE tapering till March 2014: Macquarie

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Oct 24, 2013, 12.27 PM IST

In an interview to CNBC-TV18, Nizam Idris of Macquarie spoke about the currency market.

In an interview to CNBC-TV18, Nizam Idris of Macquarie spoke about the currency market.

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Prefer UltraTech Cement, Shree Cements: Anand Rathi

Oct 24, 2013, 12.27 PM IST

Jaspreet Singh Arora, Senior Analyst - Cement & Construction - Institution Equity of Anand Rathi advises to prefer UltraTech Cement from largecap cement space and Shree Cement from midcap cement space.

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Prefer UltraTech Cement, Shree Cements: Anand Rathi

Jaspreet Singh Arora, Senior Analyst - Cement & Construction - Institution Equity of Anand Rathi advises to prefer UltraTech Cement from largecap cement space and Shree Cement from midcap cement space.

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Prefer UltraTech Cement, Shree Cements: Anand Rathi

Jaspreet Singh Arora, Senior Analyst - Cement & Construction - Institution Equity of Anand Rathi advises to prefer UltraTech Cement from largecap cement space and Shree Cement from midcap cement space.

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Jaspreet Singh Arora, Senior Analyst - Cement & Construction - Institution Equity of Anand Rathi told CNBC-TV18, " UltraTech Cement has been a top pick in cement sector. Post the deal, it is going to be sometime before that materialises and come on to UltraTech's books because there are whole host of approvals required before UltraTech can take over that asset. But given the fact that it was backed at a very fancy valuation, which is probably at the lowest that one could have seen in terms of deal in the last couple of years."

He further added, "UltraTech is a domestic story and the largest player and they are also present in ancillary businesses like white cement and putty and the amount of growth that one can expect in a largecap like UltraTech we are not expecting that in ACC or Ambuja. So tomorrow if there is any volume growth in double digits coming back to the sector in either next calendar year or year after, probably UltraTech will be the only one to catch on that and get the benefit of it."

"In the midcap space, we are bullish on Shree Cements and The Ramco Cements but the way The Ramco Cements has performed in the last two quarters, the only name to bet on right now in the midcaps would only be Shree Cements."

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Buy ICICI Bank 1060 calls; sell 1080 1100 calls: Trivedi

Oct 24, 2013, 12.27 PM IST

Amit Trivedi, Co-Founder of Investworks.in advises buying ICICI Bank 1060 calls and selling 1080 & 1100 calls.

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Buy ICICI Bank 1060 calls; sell 1080 & 1100 calls: Trivedi

Amit Trivedi, Co-Founder of Investworks.in advises buying ICICI Bank 1060 calls and selling 1080 & 1100 calls.

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Buy ICICI Bank 1060 calls; sell 1080 & 1100 calls: Trivedi

Amit Trivedi, Co-Founder of Investworks.in advises buying ICICI Bank 1060 calls and selling 1080 & 1100 calls.

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Amit Trivedi, Co-Founder of Investworks.in told CNBC-TV18, "In last one month, ICICI Bank is almost at a high point. We think either the stock should consolidate at these levels or marginally go up. Hence we are recommending that people can buy 1,060 strike calls and sell 1,080 strike calls and 1,100 calls. So there is a call ladder strategy we are executing."

"There is around Rs 2 invested in this strategy which is a maximum loss. If ICICI Bank goes up, you will make maximum profit of Rs 18 in the strategy," he added.

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Saint-Gobain standalone Sep '13 sales at Rs 25.20 crore

Oct 23, 2013, 12.27 PM IST

Saint-Gobain Sekurit has reported a sales standalone turnover of Rs 25.20 crore and a net profit of Rs 0.34 crore for the quarter ended Sep '13

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Saint-Gobain standalone Sep '13 sales at Rs 25.20 crore

Saint-Gobain Sekurit has reported a sales standalone turnover of Rs 25.20 crore and a net profit of Rs 0.34 crore for the quarter ended Sep '13

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Saint-Gobain standalone Sep '13 sales at Rs 25.20 crore

Saint-Gobain Sekurit has reported a sales standalone turnover of Rs 25.20 crore and a net profit of Rs 0.34 crore for the quarter ended Sep '13

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Saint-Gobain Sekurit has reported a standalone sales turnover of Rs 25.20 crore and a net profit of Rs 0.34 crore for the quarter ended Sep '13. Other income for the quarter was Rs 0.48 crore. For the quarter ended Sep 2012 the standalone sales turnover was Rs 29.26 crore and net profit was Rs 0.69 crore, and other income Rs 0.47 crore. Saint-Gobain shares closed at 13.65 on October 22, 2013 (BSE) and has given -44.85% returns over the last 6 months and -65.40% over the last 12 months.

Saint-Gobain Sekurit Standalone Quarterly Results -------- in Rs. Cr. --------

Sep '13 Jun '13 Mar '13 Sales Turnover 25.20 26.38 27.85 Other Income 0.48 0.41 0.25 Total Income 25.68 26.79 28.10 Total Expenses 23.00 24.34 26.56 Operating Profit 2.20 2.04 1.29 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 2.68 2.45 1.54 Interest 0.05 0.03 -0.03 PBDT 2.63 2.42 1.57 Depreciation 2.29 2.25 2.29 Depreciation On Revaluation Of Assets -- -- -- PBT 0.34 0.17 -0.72 Tax -- -0.03 0.61 Net Profit 0.34 0.20 -1.33 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 0.04 0.02 -- Book Value -- -- -- Equity 91.11 91.11 91.11 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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Mahindra Comp standalone Sep '13 sales at Rs 17.64 crore

Oct 23, 2013, 12.27 PM IST

Mahindra Composites . has reported a standalone sales turnover of Rs 17.64 crore and a net loss of Rs 0.10 crore for the quarter ended Sep '13

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Mahindra Comp standalone Sep '13 sales at Rs 17.64 crore

Mahindra Composites . has reported a standalone sales turnover of Rs 17.64 crore and a net loss of Rs 0.10 crore for the quarter ended Sep '13

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Mahindra Comp standalone Sep '13 sales at Rs 17.64 crore

Mahindra Composites . has reported a standalone sales turnover of Rs 17.64 crore and a net loss of Rs 0.10 crore for the quarter ended Sep '13

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Mahindra Composites . has reported a standalone sales turnover of Rs 17.64 crore and a net loss of Rs 0.10 crore for the quarter ended Sep '13. For the quarter ended Sep 2012 the standalone sales turnover was Rs 13.78 crore and net profit was Rs 0.25 crore. Mahindra Comp shares closed at 54.35 on October 22, 2013 (BSE) and has given 87.41% returns over the last 6 months and 17.64% over the last 12 months.

Mahindra Composites . Standalone Quarterly Results -------- in Rs. Cr. --------

Sep '13 Jun '13 Mar '13 Sales Turnover 17.64 13.21 11.76 Other Income -- -- -- Total Income 17.64 13.21 11.76 Total Expenses 16.99 12.94 11.38 Operating Profit 0.65 0.27 0.38 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- 0.96 -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 0.65 0.27 0.38 Interest 0.24 0.25 0.24 PBDT 0.41 0.98 0.14 Depreciation 0.51 0.47 0.45 Depreciation On Revaluation Of Assets -- -- -- PBT -0.10 0.51 -0.31 Tax -- 0.04 0.03 Net Profit -0.10 0.47 -0.34 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share -- 1.07 -- Book Value -- -- -- Equity 4.42 4.41 4.41 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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V-Guard Ind standalone Sep '13 sales at Rs 334.04 crore

Oct 23, 2013, 12.27 PM IST

V-Guard Industries has reported a sales standalone turnover of Rs 334.04 crore and a net profit of Rs 14.48 crore for the quarter ended Sep '13

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V-Guard Ind standalone Sep '13 sales at Rs 334.04 crore

V-Guard Industries has reported a sales standalone turnover of Rs 334.04 crore and a net profit of Rs 14.48 crore for the quarter ended Sep '13

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V-Guard Ind standalone Sep '13 sales at Rs 334.04 crore

V-Guard Industries has reported a sales standalone turnover of Rs 334.04 crore and a net profit of Rs 14.48 crore for the quarter ended Sep '13

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V-Guard Industries has reported a standalone sales turnover of Rs 334.04 crore and a net profit of Rs 14.48 crore for the quarter ended Sep '13. Other income for the quarter was Rs 1.13 crore. For the quarter ended Sep 2012 the standalone sales turnover was Rs 313.47 crore and net profit was Rs 17.97 crore, and other income Rs 1.12 crore. V-Guard Ind shares closed at 523.25 on October 22, 2013 (NSE) and has given 7.88% returns over the last 6 months and 24.36% over the last 12 months.

V-Guard Industries Standalone Quarterly Results -------- in Rs. Cr. --------

Sep '13 Jun '13 Mar '13 Sales Turnover 334.04 408.16 378.72 Other Income 1.13 1.10 0.52 Total Income 335.17 409.26 379.23 Total Expenses 291.25 377.21 358.77 Operating Profit 42.79 30.95 19.95 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 43.92 32.05 20.47 Interest 4.81 5.49 6.26 PBDT 39.10 26.55 14.21 Depreciation 18.58 2.87 2.88 Depreciation On Revaluation Of Assets -- -- -- PBT 20.52 23.68 11.33 Tax 6.04 6.04 2.39 Net Profit 14.48 17.64 8.94 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 4.85 5.91 2.99 Book Value -- -- -- Equity 29.85 29.85 29.85 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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BSE Sensex volatile; oil gas, pharma, auto drag

12:24

Moneycontrol Bureau
Live Market Commentary
The market remained listless in noon trade with the Nifty hovering around the 6200-level. Experts believe the earnings so far has been positive amid weak economic environment, which already discounted by the market. Also the market is largely supported by foreign money, they add.

Generally, flows in Indian equities have been by long-term investors who see opportunity due to the weak rupee, JPMorgan AMC's Richard Titherington says.

Delayed taper of asset purchase programme by the US Fed and economic recovery in countries like China have been the reasons behind it, he elaborates.

The Sensex is down 38.48 points at 20855.41, and the Nifty is down 9.35 points at 6195.60.

Titherington foresees the rally in the Indian markets to continue till the year-end. The current market is attractively valued and IT companies are still preferred, he tells CNBC-TV18. Meanwhile, PSU banks look extremely cheap and may not see further de-rating, he adds.

Oil & gas, healthcare and auto stocks are under pressure while top lenders, technology and Tata pack are in bull grip.

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