Rupee hits One-week low against US dollar - Update by Money Maker Research

The Indian rupee on Thursday was trading at a one-week low against the dollar, tracking losses in the Asian currencies markets. The rupee opened at 64.17 per dollar and touched a low of 64.1 and was trading at 64.14 per dollar, down 0.22 percent from its last day’s close of 63.99. The fall in rupee was also on account of continued selling by the FIIs in the local equity markets.  So far this year, the rupee has gained 5.9%, while Foreign Institutional investors have bought 6.35 billion dollar in equity market and 20.35 billion dollar in debt markets, as per data.

The govt will issue inflation data based on WPI for the month of August today afternoon. As per estimate, wholesale price inflation (WPI) will be at 3.2 percent in August compared to 1.88 percent in July. 

The dollar index was trading at 92.463, down 0.07 percent from its previous close of 92.52.

Future Enterprises Bull on Chart buy for Tomorrow Trading ( 13 Sep 2017 )

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in FUTURE ENTERPRISES.

“FUTURE ENTERPRISES is the stock which We would recommend to buy above Rs 62.50; this can see a upside to levels closer to Rs 65 - 66 zones, keep stop loss below Rs 59”.

Future Enterprises Limited, formerly Future Retail Limited, is engaged in the business of multi brand retail trading. The Company's store networks include over 738 stores in approximately 221 cities, which are operated under various brand names, including easy day and KB's. The Company's retail business consists of Hypermarket and Supermarket, and Home Solutions. The hypermarket and supermarket business is led by Big Bazaar, fbb, Food Bazaar and Food hall, and the Company operates over 300 Big Bazaar, fbb and food bazaar stores in approximately 244 cities across the country. The home solutions business includes Hometown and Ezone. Hometown is a one-stop destination for home-making solutions. Ezone is a lifestyle format that consists of consumer electronic and durables brands. KB's offers exotic range of food products through over 500 stores. Easy day operates approximately 320 stores in Delhi and the National Capital Region; Punjab; Haryana, and Western Uttar Pradesh.

Stock is trading at 0.67 times its book value & has been maintaining a healthy dividend payout of 27.79%.

FEL was closed 1.12 percent up today at Rs 54.05 at NSE.

Dairy stocks surge as Govt approves Dairy Processing & Infrastructure Dev. Fund

Shares of diary sector such as Prabhat Dairy, Parag Milk Foods, Umang Dairies hogged limelight in early trade Wednesday after the Union Cabinet, chaired by PM Narendra Modi, approves the implementation ‘Dairy Processing & Infrastructure Development Fund’ (DIDF). The fund is with an outlay of Rs 10,881 crore for the period 2017-18 to 2028-29 to boost the dairy segment.

The new fund to be managed by the National Dairy Dev Board (NDDB) and the National Dairy Dev Cooperation (NCDC) will be used to give loan for building an efficient milk procurement system and other processing infrastructure. State dairy federations, multi-state milk cooperatives, milk unions, milk producer companies and NDDB subsidiaries can avail of the loan with their eligibility criteria.

The move would advantage 95 lakh farmers and help generate extra milk processing capacity of 124 lakh litres a day and value added products of manufacturing capacity of 59.78 lakh litre per day.

Meanwhile, the stock of the Prabhat Dairy was trading up by 1.4 percent intraday at Rs 133.90 per share. Stocks of the Parag Milk Foods trading higher by 0.60 percent at Rs 252 per share and the stocks of Umang Dairies was trading up by 0.56 percent at Rs 71 per share on BSE at post morning hours.