International Markets:

U.S & Europe

Particulars 31st  Dec Chg Chg(%)
Nasdaq 8972.60 26.61 0.30
Dow* 28538.44 -106.82 -0.37
FTSE 7542.44 -44.61 -0.59
CAC 5978.06 -4.16 -0.07
DAX 13249.01 -88.10 -0.66
Dow Fut.* 28548.50 108.50 0.38

*As per 1st  Jan

Asian markets:

Particulars 1st Jan. Chg Chg(%)
SGX Nifty* 12252.00 7.00 0.06
Nikkei 23656.62 -181.10 -0.76
Straits Times 3222.83 0.39 0.01
Hang Seng 28189.83 -129.64 -0.46
Shanghai 3050.12 10.10 0.33

 

ADR Watch:  

Particulars 31st Dec. Chg Chg(%)
Dr Reddy 40.58 -0.17 -0.42
HDFC Bank 63.37 0.43 0.68
ICICI Bank 15.09 -0.04 -0.26
Infosys 10.32 0.16 1.57
Tata Motor 12.93 0.16 1.25
Wipro 3.75 0.00 0.00

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3800 0.09
Brent 66.00 -1.00
Gold 1519.95 0.09
Silver 17.898   -0.57

 

FIIs & DIIs

Particulars 31st  Dec. 30th  Dec.
FIIs -1265.10 -130.52
DIIs 585.07 201.32

 

View on market: Buy on dips

Happy new year!

Most Asian markets are closed, with the U.S. stocks capping one of the best years of the past decade with a slight gain in thin pre-holiday trading. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, up 0.06 percent to 12,252 as of 7:50 a.m

Key Data/ Action and Board meeting to watch:

Mega infra spend can be a trigger for boosting growth: ICRA

Fund View:

Amara Raja Edelweiss Maintained ‘Buy’ with a price target of Rs 801. Positioning itself as credible battery management & pack supplier catering to 2-3W & e-rickshaws. Auto replacement and industrials to drive steady sales. Management estimates overall sales to jump two times over next five-to-six years.

On Metals

IDFC Securities Demand improvement boosts steel prices further. Domestic steel prices in India rise in Dec with further increase likely in January. Domestic iron ore prices on the rise, global prices range-bound. Aluminium–Partial trade dispute resolution has a positive bearing on prices. Zinc–Still in short supply.

News Update:

Embassy Office Parks REIT executed agreements with Embassy Sponsor to acquire 0.6 million square feet leasable area at a 9.25 percent initial yield. The development is expected to be completed in the last quarter of 2022-23 and is located in Embassy Manyata business park campus in Bengaluru. Acquisition cost for this transaction is Rs 740 crore which will be funded through additional debt.

Sterling & Wilson Solar: Promoters enabled repayment of Rs 1,000 crore from date of listing to Dec. 31. The outstanding loan from date of the listing has fallen to Rs 1,644 crore from Rs 2,563 crore. The promoters have proposed to facilitate repayment of balance outstanding loan amount in three tranches till September 2020.

CARE Ratings said that the Securities and Exchange Board of India concluded its adjudication proceedings and has imposed a penalty of Rs 25 lakh on the company. The notice was received from SEBI for proceedings in relation to credit ratings assigned to one of the company’s customers and the customer subsidiaries.

IRCTC, Ircon International: Indian Railways to raise the fare for passengers travelling by ordinary non-air-conditioned class of trains by 1 paisa per passenger kilometre, while hike will be 2 paise for longer distance mail, express trains, according to a statement.

PTC India selected as an aggregator under the Ministry of Power’s scheme for the resolution of stressed thermal assets. The scheme is for procurement and supply of 2,500 MW power on medium-term basis for a three-year period. The earlier bid process was cancelled due to lack of response for Discoms in February last year. The bid process for selection of generators to be completed by Jan. 2020.

CreditAccess Grameen completed the direct assignment of Rs 435 crore on Dec. 31, which is also the total amount drawn during Dember quarter in the form of Direct Assignment. The company has completed one securitization and four Direct Assignment transactions and have drawn a total of Rs. 816.69 Crore in 2019-20.

Yes Bank: CARE Ratings downgraded ratings across various types of bonds aggregating to Rs 21,017 crore. Infra Bonds, Lower Tier II Bonds and Tier II Bonds (Basel III) downgraded to ‘CARE A’ from ‘CARE A+’ with the outlook remaining negative.

Lakshmi Vilas Bank’s S. Sundar resigned from chief financial officer’s post.

Religare Enterprises extended long stop date for the proposed sale of Religare Finvest and Religare Housing Development Finance to TCG Advisory Services from Dec. 31 to March 3.

JSW Steel said that it infused Rs 63.5 crore in Vardhman Industries for a 100 percent stake in the company and now it has become wholly-owned arm of the company.

Jagran Prakashan: ICICI Prudential Life Insurance reduced stake from 5.06 percent to 3.02 percent.

Premier Explosives has received a contract for the supply of explosives from Jaiprakash Power Ventures for Rs 15.44 crore.

Bajaj Electricals to consider raising funds on Jan. 6.

Federal Mogul Goetze: Reliance MF reduced stake from 9.17 percent to 6.79 percent on Dec. 27.

South Indian Bank: Reference rate for external benchmark linked loans has been reduced from 5.4 percent to 5.15 percent with effect from Jan. 1.

 


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Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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