International Markets:

U.S & Europe

Particulars 7th Feb Chg Chg(%)
Nasdaq 9520.51 -51.64 -0.54
Dow 29102.51 -277.26 0.94
FTSE 7466.70 -38.09 -0.51
CAC 6029.75 -8.43 -0.14
DAX 13513.81 -61.01 -0.45
Dow Fut.* 29106.50 62.50 0.22

*As per 10th feb

Asian markets:

Particulars 10th Feb. Chg Chg(%)
SGX Nifty* 12081.00 -3.50 -0.02
Nikkei 23778.29 -49.69 -0.21
Straits Times 3171.24 -10.24 -0.32
Hang Seng 27281.00 -123.27 -0.45
Shanghai 2881.40 5.44 0.19

 

ADR Watch:

Particulars 7th  Feb Chg Chg(%)
Dr Reddy 44.16 -0.66 -1.47
HDFC Bank 58.76 -0.82 -1.38
ICICI Bank 14.94 -0.10 -0.66
Infosys 10.85 -0.11 -1.00
Tata Motor 11.91 -0.45 -3.64
Wipro 3.74 -0.01 -0.27

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.4013 0.29
Brent 54.50 0.06
Gold 1572.55 -0.05
Silver 17.677 -0.08

 

FIIs & DIIs

Particulars 7th Feb. 6th Feb.
FIIs 161.93 -560.36
DIIs -178.59 +304.01

 

View on market: Buy on dips

Asian shares fell along with U.S. stock futures while haven assets nudged higher at the start of a week. Equities opened lower in South Korea, Japan and Australia, while futures on the S&P 500 Index declined about 0.5 percent. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.36 percent to 12,041 as of 8:15 a.m. As investors grapple with assessing the impact of the virus on global growth, China’s central bank on Monday will offer its first batch of special re-lending funds as it seeks to combat the outbreak.

Key Data/ Action, Result and Board meeting to watch:

GAIL, Grasim Industries, NALCO, MRF, Dilip Buildcon, Phoenix Mills, Union Bank of India, Kajaria Ceramics, Somany Ceramics, Kalpataru Power Transmission, Motherson Sumi Systems, Sheela Foam, Rupa & Company, Oil India, Petronet LNG, Chalet Hotels, Indiabulls Real Estate, Indian Overseas Bank, General Insurance Corporation of India, Bajaj Consumer Care, Balrampur Chini Mills, Sundaram Finance, Bharat Forge, Birla Precision Technologies, Bombay Dyeing, Capacit’e Infraprojects, CESC Ventures, Dwarikesh Sugar Industries, Eros International Media, Fairchem Speciality, Aban Offshore, ARSS Infrastructure Project, Ashapura Minechem, Shilpa Medicare, DCM Shriram Industries, DFM Foods, Gujarat Sidhee Cement.

Fund View:

Mahindra & Mahindra (Q3, YoY) Revenue fell 6 percent to Rs 12,120 crore. Ebitda rose 1.6 percent to Rs 1,793 crore. Margins stood at 14.8 percent versus 13.7 percent. Net Profit fell 73 percent to Rs 380 crore.

Tata Steel (Q3, YoY) Revenue declined 8.6 percent to Rs 35,520.4 crore. Net loss at Rs 1,029.1 crore versus net profit at Rs 2,334.2 crore. Ebitda down 46.1 percent to Rs 3,619.8 crore. Operating margin at 10.2 percent versus 17.3 percent. Exceptional loss of Rs 328.6 crore due to provisions created for impairment of assets, demand, claims, and employee compensation.
Britannia (Q3, YoY) Revenue rose 4.9 percent to Rs 2,982.7 crore. Net profit rose 23.9 percent to Rs 372.6 crore. Ebitda up 11.1percent to Rs 502.1 crore. Margin at 16.8 percent versus 15.9 percent. Board approved commercial paper issue of Rs 800 crore.
News Update:

Yes Bank: Shareholders approved increasing authorised share capital of the bank. The also gave a nod to authorize capital raising through the issue of equity shares or other convertible securities.

UPL said the tax department looking to review the company’s global operations.

L&T said that it has completed the metro project at Hyderabad.

Tata Motors: JLR to cut production half or one day a week at its Solihull and Castle Bromwich plants to achieve the necessary operational efficiencies and align production to current demand conditions. (Bloomberg)

Lumax Auto Technologies signed a JV deal with Japan’s Yokowo to manufacture and supply antennas and other vehicle communication products. The company also signed MoU with China’s Ananda Drive Techniques for the manufacturing of electric vehicle products.

J&K Bank: Board approved raising Rs 500 crore through preferential share allotment.

SH Kelkar: Board approved the closure of fragrance ingredients manufacturing facility and research activity in the Netherlands.

Biocon: Bengaluru NCLT approved amalgamation of Biocon Research with Biocon Biologics.

NHPC: Board approved raising Rs 1,000 crore via debt.

Ashok Leyland to acquire a 7 percent stake in its arm Hinduja Leyland Finance for Rs 390.5 crore.
UltraTech Cement to consider raising via NCDs aggregating to Rs 250 crore on Feb. 12.

Hindustan Aeronautics signed agreements with SC Rosoboronexport, Indian Coast Guard, IIT Kanpur and Turbo Aviation for various services.

Indiabulls Housing Finance says rating agency CRISIL has revised the long-term rating of the company to “CRISIL AA” with a stable outlook. The rating agency cited challenges faced in accessing diverse sources of funding following the situation for non-banks since September 2018.

Cipla expands women’s health portfolio through the acquisition of four key brands from Wanbury. These brands, previously commercialised by Wanbury, have a market size of Rs 3,100 crore in India with a sales value of Rs 59.6 crore.

 


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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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