International Markets:

U.S & Europe

Particulars 12th Feb Chg Chg(%)
Nasdaq 9725.96 87.02 0.90
Dow 29551.42 275.08 0.94
FTSE 7534.37 34.93 0.47
CAC 6104.73 49.97 0.83
DAX 13749.78 121.94 0.89
Dow Fut.* 29452.50 -70.50 -0.24

*As per 13th feb

Asian markets:

Particulars 13th Feb. Chg Chg(%)
SGX Nifty* 12222.00 -7.00 -0.06
Nikkei 23875.75 14.54 0.06
Straits Times 3224.01 0.64 0.02
Hang Seng 27769.66 -54.00 -0.19
Shanghai 2921.07 -5.83 -0.20

 

ADR Watch:

Particulars 12th  Feb Chg Chg(%)
Dr Reddy 44.67 0.14 0.31
HDFC Bank 59.81 0.27 0.45
ICICI Bank 15.35 0.13 0.85
Infosys 11.22 0.02 0.17
Tata Motor 12.03 0.02 0.17
Wipro 3.81 0.06 1.60

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3387 0.07
Brent 55.93 0.25
Gold 1573.25 0.10
Silver 17.543      0.26

 

FIIs & DIIs

Particulars 12th  Feb. 11th Feb.
FIIs 48.81 -209.39
DIIs 339.19 +344.63

 

View on market: Buy on dips

U.S. stock futures retreated along with the offshore yuan, and the yen gained as China reported an increased number of coronavirus cases in Hubei, using a revised method. Japanese shares opened modestly lower, though equities were higher in Australia and South Korea. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,228.50 as of 8:15 a.m.

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

Bharat Petroleum Corporation,Vodafone Idea, Page Industries, Nestle India, Lemon Tree Hotels, Lux Industries, Hindustan Aeronautics, GMR Infrastructure, Godrej Industries, Deepak Fertilizers, Sumitomo Chemical India, Suven Life Sciences, Take Solutions, Tanla Solutions, UFLEX, Vadilal Industries, Gujarat State Petronet, Dhanuka Agritech, Adani Transmission, Allcargo Logistics, Gillette India, Apollo Hospitals Enterprise, Asian Granito India, Phillips Carbon Black, KNR Constructions, Kohinoor Foods, Hindustan Copper, Hindustan Oil Exploration Company, Hubtown, IFCI, Igarashi Motors India, India Tourism Development Corporation, Ind-Swift Laboratories, Premier Explosives, Jai Corp, Jaiprakash Associates

Fund View:

Yes Bank Morgan Stanley Maintained ‘Underweight’ with a price target at Rs 25. Remain unsure of the size, pricing, other conditions of the offers. Stay underweight given uncertainties, low capital, and elevated asset quality stress. Implied dilution of 40-80 percent if the bank raises $0.5-1 billion.

ABB Macquarie Retained ‘Underperform’ on high valuations with a price target at 911. 9% CY19 revenue growth led by short cycle orders, with lower liquidity, payment risk. Expect potential market share gains in motion segment. See margin cushion from services and exports. Industrial automation will remain weak. ABB likely to perform better then peers.
Ashok Leyland Citi Maintained ‘Sell’, cut price target to Rs 50 from Rs 55. Q3 results below estimates, revenue impacted by lower realisations. Cost reduction initiatives aid margins. Cut 2019-20 volume estimates by 5 percent.

Hindalco Bofa Maintained ‘Buy’ cut price target to Rs 255 from Rs 260. Upstream aluminium surprises despite price headwinds. Aluminum drives Ebitda beat with 5 percent QoQ cost decline. Cost decline led by improved proportion of linkage coal, lower carbon costs. Cut FY21-22 EPS by 8-9 percent.

News Update:

Yes Bank said it has delayed its third-quarter earnings as the private lender is reviewing non-binding expressions of interest from four investors. The Mumbai-based lender has received non-binding EoIs from JC Flowers & Co. LLC, Tilden Park Capital Management, OHA (U.K.) LLP and Silver Point Capital, according to its exchange filing on Wednesday. The bank, which had to declare its October-December results by Feb. 14, will now report earnings on or before March 14.

PI Industries: Board approved the merger of the company’s arm Isagro with the company and also approved raising Rs 2000 crore via QIP issue. Isagro’s acquisition was completed on Dec. 27.

Godrej Properties said that the company will challenge the National Green Tribunal’s order quashing environmental nod granted to one of its housing projects in Bengaluru, saying no construction work has been done in the buffer zone of a lake. (PTI)

Videocon Insolvency: NCLT has allowed Venugopal Dhoot’s plea for consolidation of overseas oil and gas assets. SBI had opposed the consolidation of overseas oil and gas assets on grounds that they fall outside the purview of the resolution plan. Dhoot had filed an application seeking a moratorium on foreign petroleum assets and restrain the banks from selling them. (Source: NCLT Proceedings)

BHEL signed a memorandum of understanding with Russia’s Rosoboronexport. The aim of the MOU is to cooperate and undertake joint projects and operations for Defence Systems. This will help in leveraging BHEL’s capabilities in the Defence Sector in association with Russian OEMs.

General Insurance Corporation of India obtained a license from Bank of Russia for the commencement of reinsurance business in Russia.

Aurobindo Pharma has completed the acquisition of certain business assets of Profectus BioSciences.

Rico Auto Industries started commercial production of its new plant in Alwar to manufacture and supply auto components, 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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