International Markets:

U.S & Europe

Particulars 11th Feb Chg Chg(%)
Nasdaq 9638.94 10.55 0.11
Dow 29276.34 -0.48 -0.016
FTSE 7499.44 52.56 0.71
CAC 6054.76 39.09 0.65
DAX 13627.84 133.81 0.65
Dow Fut.* 29258.00 +29.00 +0.10

*As per 12th feb

Asian markets:

Particulars 12th Feb. Chg Chg(%)
SGX Nifty* 12157.50 30.50 0.25
Nikkei 23814.88 128.90 0.54
Straits Times 3189.56 13.99 0.44
Hang Seng 27742.37 158.49 0.57
Shanghai 2904.21 2.54 0.09


ADR Watch:

Particulars 11th  Feb Chg Chg(%)
Dr Reddy 44.53 0.51 1.16
HDFC Bank 59.54 0.69 1.17
ICICI Bank 15.22 0.20 1.33
Infosys 10.95 0.03 0.27
Tata Motor 12.01 0.20 1.69
Wipro 3.75 0.03 0.81


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.2863 -0.02
Brent 54.83 1.52
Gold 1570.85 0.05
Silver 17.593 -0.02



Particulars 11th Feb. 10th Feb.
FIIs -209.39 -184.58
DIIs +344.63 161.93


View on market: Buy on dips

Asian stocks opened in mixed fashion today as investors weighed the spreading coronavirus against expectations for policy support. Australia’s shares ticked up after earnings from the country’s biggest bank and the nation’s bond yields advanced. Japanese stocks swung in early trading, reopening after a holiday. South Korea’s equities climbed. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.25 percent to 12,157.50 as of 8:10 a.m.

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

Hindalco Industries, Indian Railway Catering And Tourism Corporation, Ashok Leyland, ABB India, Aarti Industries, Info Edge (India), IPCA Laboratories, Natco Pharma, Torrent Power, PI Industries, Welspun India, Rail Vikas Nigam, Dish TV India.

Fund View:

JSPL Morgan Stanley Maintained ‘Equal weight’ with a price target at Rs 195. Second court hearing on restructuring of Australian debt partly done on Feb. 11 and will partly be done today. Debt restructuring proposal was supposed to be discussed in second hearing. Restructuring would help improve cash flows.

Federal Bank Haitong Initiated ‘Buy’ with a price target of Rs 195. Transitioning from regional bank to new- gen private bank. Strong franchise in Kerala, successful expansion outside Kerala. Margin and efficiency improvement on cards.

Hexaware Morgan Stanley Maintained ‘Equal-weight’ with a price target of Rs 370. December quarter results were below estimates. CY20 guidance already reflecting in estimates. Trim our CY20/21 estimates by up to 3 percent. One-year forward P/E at 15.4 times at slight discount to average since 2014.

Coal India JPMorgan Maintained ‘Overweight’ with a price target at Rs 275. Broadly in line, PAT lower on higher contratual and wage cost. Q4 should be record given sharply higher production and offtake. Expect dividend to be declared over next few weeks.

News Update:

IndusInd Bank: Moody’s changed its outlook on IndusInd Bank to ‘Negative’ from ‘Stable’ to account for the risk of further asset quality deterioration. The rating agency affirmed the bank’s domestic and foreign currency ratings at Baa3/P3. The affirmation of the rating was driven by the bank’s strong buffers, both capital and profitability, which resulted in a strong ability to absorb asset quality stress.

Sun Pharma Advanced Research received a complete response letter from U.S. FDA for the new drug application for Taclantis.

Glenmark Pharma to consider raising funds via debt on Feb. 14.

Mercator: SBI and ICICI Bank have filed proceedings against the company under the Insolvency Act to recover the dues.

NHPC raised Rs 1,500 crore via a private placement of bonds.

IIFL Wealth Management said that consideration of for distribution business transfer stood at Rs 419 crore and PMS Business Transfer stood at Rs 11 crore. In November last year, the board had approved the transfer of distribution business to company’s arm IIFL Wealth Finance and transfer of portfolio management services business to company’s subsidiary IIFL Alternate Asset Advisors.

Neuland Laboratories: Amit Agarwal to resign from the post of Chief Financial Officer with effect from March 6.

Reliance Naval & Engineering received a show-cause notice from the Ministry of Defense, for termination of contract relating to 5 Naval Offshore Patrol Vessels . The company said in a media statement that it shall take all the necessary steps and actions to protect its rights including the arbitrary invocation of Bank Guarantees relating to the subject contract.
Spencer’s Retail: Board approved to issue equity shares up to Rs 80 crore on a rights basis to its shareholders.

Lumax Auto Technologies approved servicing the notice to Gill-Austem LLC (JV Partner) for termination of Joint Venture Agreement due to non-performance of the obligation by the JV Partner even after the expiry of the cure period in terms of the agreement.
CRISIL reappointed Ashu Suyash as Managing Director and Chief Executive Officer till June 2025.

NRB Bearings: Tanushree Bagrodia resigned from the post of CFO with effect from Feb. 17.



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