WEEKLY REPORT

 Business Standard

Ø  Crisil slashes DHFL CP rating to ‘default’

Ø  RBI may ease up on timelines for stressed assets

Ø  No iron ore scarcity in country post 2020: PMAI

Ø  Prasad to expedite telecom connectivity programs

Ø  FDI in services sector up 37 pc to $9.15 bn in 2018-19

Ø  IL&FS fire could singe many audit cos in India

Ø  Services sector activity growth slips to 12-month low

Ø  Tech Mahindra to reduce greenhouse gas emissions

Ø  US-China trade war, fragile prices hurt metal sector performance

Ø  Gadkari promises Rs 15 trillion highway spending, revival of IL&FS projects

Ø  Fitch downgrades ICICI Bank rating from BBB- to BB+ amid banking distress

Ø  DHFL-exposed MF schemes suffer 30-50% drop in NAVs, Icra data shows

Ø  ACC, Ambuja steadily losing market share on reluctance to diversify

Business Line

Mint

Ø  Heavy Industry Dept invites EoI for 5,000 electric buses

Ø  Govt to consider fixing nutrient-based subsidy rate for urea

Ø  Govt may announce infusion of ₹4,000 cr in PSU non-life firms in Budget

Ø  NTPC may set up solar power project without signing a power purchase pact

Ø  JSW Steel to increase capacity of Vijayanagar plant after 2020

Ø  Coal India lines up ₹ 10,000 cr capex to boost output

Ø  Government sets the ball rolling to create more jobs and attract investments

Ø  World trade seen having worst year since 2009 as spat worsens

Ø  Resolving trade tensions 'immediate priority' for G20, says IMF's Lagarde

Ø  Liquid funds may have to invest a fixed portion of assets in govt securities

Ø  Wipro to acquire US-based ITI for around₹312 crore

Ø  Govt underpaid food subsidy bill by ₹69,394 crore in FY19

Financial Express

Maruti, M&M Cut Production As Auto Sales Fail To Improve

Two of India’s bigger automakers announced production cuts in the quarter ended June, suggesting that the sector is yet to emerge from the slowdown in sales since the festive season last year. While Mahindra & Mahindra Ltd. informed the exchanges today that its subsidiary Mahindra Vehicle Manufacturers Ltd. would observe ‘no production days’ of 5-13 days in the three-month period to meet reduced sales requirements, Maruti Suzuki India Ltd. said in a filing that it had cut car production by 18 percent in May—the fourth month in a row. India’s largest carmaker said its production fell as much as 18 percent year-on-year to about 1,51,188 units. The company said it made 18.88 percent fewer passenger vehicles—comprising Alto, Swift and Dzire—over last year, at 1,48,095 Units.

Maruti Suzuki’s segment-wise production cuts in May, as per its filing, are: Compact Vehicles 9.54 percent reduction year-on-year to 84,705 units. Utility Vehicles 3.22 percent cut over last year to 24,748 units. Light Commercial Vehicles Production rose 51.54 percent year-on-year to 3,093 units. Vans 35 percent decline over last year to 10,934 units. The carmaker had cut production by 10 percent in April and 20.9 percent in March across Units.

As there has been a few negative news for the market this week, nifty has closed at 11870 by a 52.15 points decrease by 0.44 %. This week Nifty opened at 11953 made high of 12103, made low of 11769 and closed at 11870.  NIFTY didn’t made a new high this week but closed 223 points lower from the high, which shows us that Bears are in the power in the market currently. Moreover, because of these negatives news the coming week might be more volatile. So keep SL in every trade.

On weekly bases resistance is 12103 and 12210 and support is 11591 and 11426.

Looking to our call performance on weekly basis we end up with loss of RS. 4500/- following are the details of our calls.

Calls Brought Forward from the previous week 7

Calls given 14

In profit closed 0

In loss closed 3

And Total call running for next week 21

EDELWEISS LOSS ₹ 1600

M_MFIN LOSS ₹ 2300

KTKBANK LOSS ₹ 600