Wipro Ltd has announced the much awaited buyback on last Friday (16th April 2019).
For detail please refer to note below.
IndiaNivesh View
According to IndiaNivesh Research, Annual report filing by the company and the data availability, acceptance ratio in excess of 90% is very likely for the retail shareholders.* Retail investors can lock in decent gains by participating in the buy back. *Retail shareholders are classified as the one’s who hold shares of market value upto 2 lakhs on the record date.
*Calculations are made on basis of purchasing 615 shares at cmp of Rs.281. After buyback , remaining shares will be with the shareholder, which is assumed to be sold at CMP of Rs. 281.
Other Information about the Buyback
Members of the promoter and promoter group of the Company have indicated their intention to participate in the proposed Buyback
Record date for the buyback is yet to be announced by the company
The Entire procedure might take approximate 3/4 months
Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (“INSL”), for use by the recipient as information only and is not for circulation or public distribution. INSL includes subsidiaries, group and associate companies, promoters, employees and affiliates. INSL researches, aggregates and faithfully reproduces information available in public domain and other sources, considered to be reliable and makes them available for the recipient, though its accuracy or completeness has not been verified by INSL independently and cannot be guaranteed. The third party research material included in this document does not represent the views of INSL and/or its officers, employees and the recipient must exercise independent judgement with regard to such content. This document has been published in accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is not to be altered, transmitted, reproduced, copied, redistributed, uploaded or published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from INSL. This document is solely for information purpose and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. INSL does not take responsibility thereof. The research analysts of INSL have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is based on technical and derivative analysis center on studying charts of a stock’s price movement, outstanding positions and trading volume, as opposed to focusing on a company’s fundamentals and, as such, may not match with a report on a company’s fundamentals. Nothing in this document constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances. INSL does not accept any responsibility or whatever nature for the information, assurances, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this document only. The opinions are subject to change without any notice. INSL directors/employees and its clients may have holdings in the stocks mentioned in the document. This report is based / focused on fundamentals of the Company and forward-looking statements as such, may not match with a report on a company’s technical analysis report Each of the analysts named below hereby certifies that, with respect to each subject company and its securities for which the analyst is responsible in this report, (1) all of the views expressed in this report accurately reflect his or her personal views about the subject companies and securities, and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report: Dharmesh Kant
Following table contains the disclosure of interest in order to adhere to utmost transparency in the matter:
INSL, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. INSL reserves the right to make modifications and alternations to this statement, as may be required, from time to time. Research Analyst has not served as an officer, director or employee of Subject Company One year Price history of the daily closing price of the securities covered in this note is available at www.nseindia.com and www.economictimes.indiatimes.com/markets/stocks/stock-quotes. (Choose name of company in the list browse companies and select 1 year in icon YTD in the price chart)
Posted by Mehul Kothari | Published on 16-APR-2019
MARKET RECAP
KEY MARKET DATA POINTS
Yesterday, we witnessed another historical session for the domestic markets wherein the benchmark indices registered another life high which was in line with our bullish stance. The index Nifty surged around 100 points to sneak above the 11800 mark and closed near the same. Meanwhile, the buying in Nifty Bank index intensified and as a result the index gained around 450 points. Right from the beginning of the session, market breadth remained strongly in the favor of advancing counters. On the sectoral front, except NIFTY REALTY (-1.00%) and NIFTY PSU BANK (-0.28%) all the other group indices closed in green. From the gainers, NIFTY PVT BANK (+1.69%) and NIFTY BANK (+1.42%) stocks remained under limelight. From the F&O space, PCJEWELLER (+14.40%), INDIGO (+6.46%), and DCBBANK (+5.75%) were the biggest gainers.
MARKET OUTLOOK
NIFTY DAILY CHART
In our previous report we stated that post the breakout on the daily char, Nifty has potential to retest the all-time high of 11761 and reach towards 11900 mark. In line with that the index reached 11800 mark and closed on a strong note. Now the index has entered an uncharted territory and there could be an extend rally going ahead towards 11200 or above levels. However, this could possibly be the last leg of rally which might be followed by a meaningful correction.
Hence, traders are advised to start booking their long positions. On the levels front, 11810 – 11760 zone might act as an intermediate resistance whereas on the downside 11730 – 11650 levels could act as strong support in the coming sessions.
Disclaimer)
Posted by Mehul Kothari | Published on 22-APR-2019
BULLION Gold prices made fresh 2019 low on Thursday; test key support of $1275. Trend volatile. Review Thursday, both the precious metals were trades flat in international markets. Gold settled at $1277.90 per troy ounce down by 0.09% while silver settled at $14.96 per troy ounce up by 0.01%. Domestic markets were also traded flat. Gold settled at Rs.31463 per 10 gram with the loss of 0.05% and MCX Silver settled at 37230 per 1 kilogram with the gain of 0.05%. Gold prices made fresh 2019 low on Thursday before closing above $1275 levels. $1275 is crucial support for gold and which is 38.2% Fibonacci retracement of current August-February bullish move. If gold is not able to hold $1275 this week than more weakness is possible. If 41275 is hold than prices could bounce again toward $1300 zone. We expect market will remain volatile this week and currency will play key role in domestic markets. Gold is having support at $1275-1266 and resistance at $1284-1292. Silver is having support at $14.80-14.64 while resistance at $15.10-15.24. TECHNICAL OUTLOOK
Today, Gold is having support at 31372-31281 while resistance at 31585-31707, silver is having support at 37098-36967 and resistance at 37375-37521. Traders are suggested to trade in a range with strict stop loss.
ENERGY Crude oil prices steady on strong Chinese GDP data and robust demand. Trend volatile. Review Thursday, Crude oil prices trade steady in international market WTI Crude settled at $64.07 while Brent settled at $71.95 per barrel. At MCX Crude oil settled positive at 4443 per barrel with the gain of 0.11%. Crude oil prices trade steady in international markets and took support after strong Chinese GDP data and robust demand outlook from China. Geo-political tensions and OPEC production cut is also supporting prices. Tension in Libya and deadline of U.S. sanctions on Iran and OPEC production cut is continue supporting crude oil prices. Market will eye next move of President Donald Trump on Iran sanctions as its expiring on 2nd May and Saudi Arabia is making more negotiations with U.S. to extend sanctions on Iran. Pressure from U.S. is also building up on Saudi Arabia to announce suspension or ease production cut to control rising crude oil prices. As prices are almost gain 40% this year and which is major concern for global economy. We expect crude oil prices remain volatile this week and any comment from OPEC and US will increase volatility. Crude oil is having support at $63.40-62.80 and resistance at $64.50-65.20. TECHNICAL OUTLOOK
Crude oil is having support at 4413-4384 while resistance at 4463-4484, trades are suggested to trade in a range with strict stop loss.
BASE METALBase metals dip; Zinc plunge on higher inventory data and strength in dollar. Trend volatile. ReviewThursday, base metal prices settled weak in international market. 3M LME copper settled at $6463 per metric ton down by 1.31% from previous session. Zinc prices sank to a one-month low on Thursday after inventories in LME warehouses climbed and weak manufacturing data in Europe took the shine off base metals. Base metals prices had jumped in the previous session after upbeat GDP data from top consumer China but fell on Thursday as the dollar rose and manufacturing activity in Germany shrank. LME zinc inventories rose to their highest level in nearly two months, up 7,225 tons to 73,575 tons, according to exchange data. It's a broader weakness across base metals but zinc is definitely leading the way because stocks are up 11 percent. We expect base metal prices remain volatile this week and expect to take support at lower levels. Today, Copper is having support around 444-441 while resistance at 452-457. Nickel will trade in a range of 864-894, Zinc will trade in a range of 222-228, and Lead will trade in a range of 132-136 while Aluminium trade in a range of 147-152. TECHNICAL OUTLOOK
Copper is having support at 444 and 441 while resistance at 452 and 457, traders are suggested to trade as per levels with strict stop loss.
AGRI COMMODITYPressure continues in agriculture commodities after IMD monsoon forecast. Trend volatile. ReviewThursday, Soybean settled weak in domestic markets at 3692 per quintal with the loss of 1.42%. CBOT were settled at 880. Last week was worst week for agriculture commodities as most of the commodities bleed after IMD release first monsoon forecast and predict normal monsoon this year. As per IMD there is a less possibility of el-nino this year. After that most of the agriculture commodities settled in red at NCDEX. Chana settled negative with the loss of 1.11%, Castor seed settled negative with the loss of 2.75%. RM Seed closed negative with the loss of 0.85%. Guar Seed settled weak with the loss of 0.91% while Guar Gum settled with the loss of 1.20%. Spices pack settled mixed Jeera and Turmeric settled positive while Coriander settled negative. Cotton seed oilcake closed negative with the loss of 1.06%. Refined Soyoil closed positive with the gain of 1.02%. We expect Refined Soyoil to trade in a range of 720-734. We expect Castor seed and Cotton complex will also get support at lower levels. TECHNICAL OUTLOOK
Soybean is having support around 3660-3630 while resistance at 3730-3750, Refined Soyaoil is having support at 722-720 while resistance at 732-734 traders are suggested to trade as per levels with strict stop loss.
News Source: Bloomberg, investing.com, kitco.com and ticker news.
Disclaimer: This document is not to be construed as an offer to sell or the solicitation of an offer to buy any commodity. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the commodity and currencies mentioned in the report.)
Wipro Buyback 2019 - Wipro Announces Share Buyback in April
Wipro Ltd has announced the much awaited buyback on last Friday (16th April 2019).
For detail please refer to note below.
IndiaNivesh View
According to IndiaNivesh Research, Annual report filing by the company and the data availability, acceptance ratio in excess of 90% is very likely for the retail shareholders.* Retail investors can lock in decent gains by participating in the buy back.
*Retail shareholders are classified as the one’s who hold shares of market value upto 2 lakhs on the record date.
*Calculations are made on basis of purchasing 615 shares at cmp of Rs.281. After buyback , remaining shares will be with the shareholder, which is assumed to be sold at CMP of Rs. 281.
Other Information about the Buyback
Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (“INSL”), for use by the recipient as information only and is not for circulation or public distribution. INSL includes subsidiaries, group and associate companies, promoters, employees and affiliates. INSL researches, aggregates and faithfully reproduces information available in public domain and other sources, considered to be reliable and makes them available for the recipient, though its accuracy or completeness has not been verified by INSL independently and cannot be guaranteed. The third party research material included in this document does not represent the views of INSL and/or its officers, employees and the recipient must exercise independent judgement with regard to such content. This document has been published in accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is not to be altered, transmitted, reproduced, copied, redistributed, uploaded or published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from INSL. This document is solely for information purpose and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. INSL does not take responsibility thereof. The research analysts of INSL have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is based on technical and derivative analysis center on studying charts of a stock’s price movement, outstanding positions and trading volume, as opposed to focusing on a company’s fundamentals and, as such, may not match with a report on a company’s fundamentals. Nothing in this document constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances. INSL does not accept any responsibility or whatever nature for the information, assurances, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this document only. The opinions are subject to change without any notice. INSL directors/employees and its clients may have holdings in the stocks mentioned in the document.
This report is based / focused on fundamentals of the Company and forward-looking statements as such, may not match with a report on a company’s technical analysis report
Each of the analysts named below hereby certifies that, with respect to each subject company and its securities for which the analyst is responsible in this report, (1) all of the views expressed in this report accurately reflect his or her personal views about the subject companies and securities, and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report: Dharmesh Kant
Following table contains the disclosure of interest in order to adhere to utmost transparency in the matter:
INSL, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the company may or may not subscribe to all the views expressed within. This information is subject to change, as per applicable law, without any prior notice. INSL reserves the right to make modifications and alternations to this statement, as may be required, from time to time. Research Analyst has not served as an officer, director or employee of Subject Company One year Price history of the daily closing price of the securities covered in this note is available at www.nseindia.com and www.economictimes.indiatimes.com/markets/stocks/stock-quotes. (Choose name of company in the list browse companies and select 1 year in icon YTD in the price chart)
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Share Market Today - 18th April 2019
MARKET RECAP KEY MARKET DATA POINTS Yesterday, we witnessed another historical session for the domestic markets wherein the benchmark indices registered another life high which was in line with our bullish stance. The index Nifty surged around 100 points to sneak above the 11800 mark and closed near the same. Meanwhile, the buying in Nifty Bank index intensified and as a result the index gained around 450 points. Right from the beginning of the session, market breadth remained strongly in the favor of advancing counters. On the sectoral front, except NIFTY REALTY (-1.00%) and NIFTY PSU BANK (-0.28%) all the other group indices closed in green. From the gainers, NIFTY PVT BANK (+1.69%) and NIFTY BANK (+1.42%) stocks remained under limelight. From the F&O space, PCJEWELLER (+14.40%), INDIGO (+6.46%), and DCBBANK (+5.75%) were the biggest gainers. MARKET OUTLOOK NIFTY DAILY CHART In our previous report we stated that post the breakout on the daily char, Nifty has potential to retest the all-time high of 11761 and reach towards 11900 mark. In line with that the index reached 11800 mark and closed on a strong note. Now the index has entered an uncharted territory and there could be an extend rally going ahead towards 11200 or above levels. However, this could possibly be the last leg of rally which might be followed by a meaningful correction. Hence, traders are advised to start booking their long positions. On the levels front, 11810 – 11760 zone might act as an intermediate resistance whereas on the downside 11730 – 11650 levels could act as strong support in the coming sessions. Disclaimer)
Next Story
Commodity Research Report – 22nd April 2019
BULLION Gold prices made fresh 2019 low on Thursday; test key support of $1275. Trend volatile. Review Thursday, both the precious metals were trades flat in international markets. Gold settled at $1277.90 per troy ounce down by 0.09% while silver settled at $14.96 per troy ounce up by 0.01%. Domestic markets were also traded flat. Gold settled at Rs.31463 per 10 gram with the loss of 0.05% and MCX Silver settled at 37230 per 1 kilogram with the gain of 0.05%. Gold prices made fresh 2019 low on Thursday before closing above $1275 levels. $1275 is crucial support for gold and which is 38.2% Fibonacci retracement of current August-February bullish move. If gold is not able to hold $1275 this week than more weakness is possible. If 41275 is hold than prices could bounce again toward $1300 zone. We expect market will remain volatile this week and currency will play key role in domestic markets. Gold is having support at $1275-1266 and resistance at $1284-1292. Silver is having support at $14.80-14.64 while resistance at $15.10-15.24. TECHNICAL OUTLOOK Today, Gold is having support at 31372-31281 while resistance at 31585-31707, silver is having support at 37098-36967 and resistance at 37375-37521. Traders are suggested to trade in a range with strict stop loss. ENERGY Crude oil prices steady on strong Chinese GDP data and robust demand. Trend volatile. Review Thursday, Crude oil prices trade steady in international market WTI Crude settled at $64.07 while Brent settled at $71.95 per barrel. At MCX Crude oil settled positive at 4443 per barrel with the gain of 0.11%. Crude oil prices trade steady in international markets and took support after strong Chinese GDP data and robust demand outlook from China. Geo-political tensions and OPEC production cut is also supporting prices. Tension in Libya and deadline of U.S. sanctions on Iran and OPEC production cut is continue supporting crude oil prices. Market will eye next move of President Donald Trump on Iran sanctions as its expiring on 2nd May and Saudi Arabia is making more negotiations with U.S. to extend sanctions on Iran. Pressure from U.S. is also building up on Saudi Arabia to announce suspension or ease production cut to control rising crude oil prices. As prices are almost gain 40% this year and which is major concern for global economy. We expect crude oil prices remain volatile this week and any comment from OPEC and US will increase volatility. Crude oil is having support at $63.40-62.80 and resistance at $64.50-65.20. TECHNICAL OUTLOOK Crude oil is having support at 4413-4384 while resistance at 4463-4484, trades are suggested to trade in a range with strict stop loss. BASE METALBase metals dip; Zinc plunge on higher inventory data and strength in dollar. Trend volatile. ReviewThursday, base metal prices settled weak in international market. 3M LME copper settled at $6463 per metric ton down by 1.31% from previous session. Zinc prices sank to a one-month low on Thursday after inventories in LME warehouses climbed and weak manufacturing data in Europe took the shine off base metals. Base metals prices had jumped in the previous session after upbeat GDP data from top consumer China but fell on Thursday as the dollar rose and manufacturing activity in Germany shrank. LME zinc inventories rose to their highest level in nearly two months, up 7,225 tons to 73,575 tons, according to exchange data. It's a broader weakness across base metals but zinc is definitely leading the way because stocks are up 11 percent. We expect base metal prices remain volatile this week and expect to take support at lower levels. Today, Copper is having support around 444-441 while resistance at 452-457. Nickel will trade in a range of 864-894, Zinc will trade in a range of 222-228, and Lead will trade in a range of 132-136 while Aluminium trade in a range of 147-152. TECHNICAL OUTLOOK Copper is having support at 444 and 441 while resistance at 452 and 457, traders are suggested to trade as per levels with strict stop loss. AGRI COMMODITYPressure continues in agriculture commodities after IMD monsoon forecast. Trend volatile. ReviewThursday, Soybean settled weak in domestic markets at 3692 per quintal with the loss of 1.42%. CBOT were settled at 880. Last week was worst week for agriculture commodities as most of the commodities bleed after IMD release first monsoon forecast and predict normal monsoon this year. As per IMD there is a less possibility of el-nino this year. After that most of the agriculture commodities settled in red at NCDEX. Chana settled negative with the loss of 1.11%, Castor seed settled negative with the loss of 2.75%. RM Seed closed negative with the loss of 0.85%. Guar Seed settled weak with the loss of 0.91% while Guar Gum settled with the loss of 1.20%. Spices pack settled mixed Jeera and Turmeric settled positive while Coriander settled negative. Cotton seed oilcake closed negative with the loss of 1.06%. Refined Soyoil closed positive with the gain of 1.02%. We expect Refined Soyoil to trade in a range of 720-734. We expect Castor seed and Cotton complex will also get support at lower levels. TECHNICAL OUTLOOK Soybean is having support around 3660-3630 while resistance at 3730-3750, Refined Soyaoil is having support at 722-720 while resistance at 732-734 traders are suggested to trade as per levels with strict stop loss. News Source: Bloomberg, investing.com, kitco.com and ticker news. Disclaimer: This document is not to be construed as an offer to sell or the solicitation of an offer to buy any commodity. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the commodity and currencies mentioned in the report.)