International Markets:

U.S & Europe

Particulars 9th  Jan Chg Chg(%)
Nasdaq 9203.43 74.19 0.81
Dow* 28956.90 211.81 0.74
FTSE 7598.12 23.19 0.31
CAC 6042.55 11.55 0.19
DAX 13495.55 174.88 1.31
Dow Fut.* 28982.50 53.50 0.18

*As per 10th Jan

Asian markets:

Particulars 10th   Jan. Chg Chg(%)
SGX Nifty* 12265.50 -9.50 -0.08
Nikkei 23812.53 72.66 0.31
Straits Times 3249.70 2.22 0.07
Hang Seng 28537.26 -23.74 -0.08
Shanghai 3098.26 3.38 0.11

 

ADR Watch:

Particulars 9th Jan. Chg Chg(%)
Dr Reddy 41.24 0.36 0.88
HDFC Bank 62.52 1.18 1.92
ICICI Bank 15.14 0.43 2.92
Infosys 10.48 0.39 3.87
Tata Motor 13.33 0.47 3.65
Wipro 3.85 -0.01 -0.26

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.250 -0.69
Brent 65.21 -0.24
Gold 1548.65 -0.36
Silver 17.878 -0.32

 

FIIs & DIIs

Particulars 9th  Jan. 8th  Jan.
FIIs -431.11 -515.85
DIIs 419.22 748.40

 

View on market: Buy on dips

Stocks in Asia opened modestly higher as investors monitor an easing of geopolitical tension and await the latest reading on the U.S. labour market. Shares in Japan, South Korea and Australia nudged up. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.08 percent to 12,265.50 as of 7:45 a.m.

 

Key Data/ Action and Board meeting to watch:

Nifty Stock  (Infosys)

(Q3 Estimates, QoQ)

  • $ revenue seen 1.4 percent higher at $3,254 million.
  • Revenue seen 2.4 percent higher at Rs 23,168 crore.
  • EBIT seen 4.9 percent higher at Rs 5,154 crore.
  • EBIT margin seen at 22.2 percent versus 21.7 percent.
  • Net profit seen 3.9 percent higher at Rs 4,194 crore.

 

 

Fund View:

Oil & Gas UBS For 2020, we believe OMCs and upstream companies will re-rate. Positives: privatization, strong marketing performance, lower government interventions, recovery in GRM. Gas transmission businesses could recover, with higher availability of domestic gas and LNG. Upgrade GAIL to Buy and Downgrade Gujarat Gas and Mahanagar Gas to Sell. Reiterate Buy ratings on Reliance, the OMCs and ONGC.

Cement HSBC Another quarter of tepid demand and strong earnings. Volume growth is set to flatten in 2019-20; production discipline and benign costs should support margins. Consensus expectations and valuations for UltraTech and Shree Cement not comforting.

Morgan Stanley on NBFC

2020 will be a crucial year of consolidation for NBFCs even as they navigate a sluggish economy. Companies with tough 2019 will continue to de-lever, de-risk, and re-model to regain investor confidence. Others are likely to prioritize asset quality over growth.

MCX: Maintained ‘Overweight’; hiked price target to Rs 1,600 from Rs 1,365.

M&M Financial: Maintained ‘Overweight’ cut price target to Rs 400 from Rs 425.

Shriram Transport Finance: Maintained ‘Overweight’ with a price target of Rs 1,365.

PNB Housing: Upgraded to ‘Equal-weight’ from ‘Underweight’; maintained price target at Rs 500.

HDFC AMC: Downgraded to ‘Equal-weight’ from ‘Overweight’; cut price target to Rs 3,300 from Rs 3,365.

Bajaj Finance: Maintained ‘Equal-weight’; hiked price target to Rs 4,250 from Rs 3,700. IndoStar Capital: Maintained ‘Equal-weight’; cut price target to Rs 190 from Rs 230.

Aditya Birla Capital: Maintained ‘Equal-weight’; hiked price target to Rs 100 from Rs 80.

 

News Update:

Housing Development Finance Corporation has completed the acquisition of majority stake in Apollo Munich Health Insurance for Rs 1,495.81 crore. HDFC bought 50.80 percent stake of Apollo Hospitals Group in Apollo Munich for Rs 1,485.14 crore and 0.36 percent shareholding of employees for Rs 10.67 crore.

Sterlite Tech’s arm acquired 12.8 percent stake in Israel’s ASOCS. The target company belongs to the industry of virtualized radio access network.

GMR Infra’s arm has formed a joint venture with Hong Kong’s ESR Cayman to develop a 66-acre logistics and industrial park at the Hyderabad airport city. In the joint venture, GMR Group will have 30 percent equity interest while the balance 70 percent will for ESR Cayman.

Bharti Airtel’s panel to meet on Jan. 14 to consider QIP issue price.

Delta Corp’s arm has received a license to operate a casino in Nepal. The company signed a memorandum of understanding for leasing space at Marriott Hotel in Kathmandu. The operations of casino as expected to commence soon.

TCS expanded partnership with Norway’s Vipps for digital solutions.

Biocon, Biocon Biologics and True North Fund executed a share subscription agreement and a shareholder agreement. On Jan. 6, the company stated in its press release that True North Fund would acquire 2.44 percent stake in Biocon Biologics for Rs 536.25 crore.

BSE has received a certificate of registration from IRDAI to commence insurance broking business. Exchange plans to launch insurance business by early February.

 


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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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