International Markets:

U.S & Europe

Particulars 13th Feb Chg Chg(%)
Nasdaq 9711.97 -13.99 -0.14
Dow 29423.31 -128.11 -0.43
FTSE 7452.03 -82.34 -1.09
CAC 6093.14 -11.59 -0.19
DAX 13745.43 -4.35 -0.03
Dow Fut.* 29449.50 +17.50 0.06

*As per 14th feb

Asian markets:

Particulars 14th Feb. Chg Chg(%)
SGX Nifty* 12178.50 28.00 0.23
Nikkei 23668.25 -159.48 -0.67
Straits Times 3224.65 4.56 0.14
Hang Seng 27858.17 128.17 0.46
Shanghai 2910.89 4.82 0.17

 

ADR Watch:  

Particulars 13th  Feb Chg Chg(%)
Dr Reddy 45.85 1.18 2.64
HDFC Bank 59.73 -0.08 -0.13
ICICI Bank 15.09 -0.26 -1.69
Infosys 11.10 -0.12 -1.07
Tata Motor 11.83 -0.20 -1.66
Wipro 3.79 -0.02 -0.52

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3300 -0.01
Brent 56.20 -0.25
Gold 1578.55 -0.01
Silver 17.648     0.16

 

FIIs & DIIs

Particulars 13th  Feb. 12th Feb.
FIIs 1061.39 48.81
DIIs -960.48 339.19

 

View on market: Buy on dips

U.S. equity futures slipped along with stocks in Tokyo and Seoul, though moves were modest after the Chinese province at the centre of the coronavirus outbreak reported more deaths. On just the second day since the Hubei region changed its methods for counting infections, investors are mulling the spread of the virus in addition to the news that the Federal Reserve will dial back its liquidity injections. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,178.50 as of 8:00 a.m.

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

ONGC, SpiceJet, Sun TV Network, Pfizer, Muthoot Finance, Embassy Office Parks REIT, Lakshmi Vilas Bank, Glenmark Pharmaceuticals, Steel Authority of India, Graphite India, Eveready Industries India, Finolex Cables, Edelweiss Financial Service, Ahluwalia Contracts (India), Amtek Auto, Mahanagar Telephone Nigam, Man Infraconstruction, Sadbhav Engineering, Shakti Pumps, Shree Cement, Sical Logistics, Simplex Infrastructures, Mangalam Cement, MEP Infrastructure Developers, Mcnally Bharat Engineering, IRB Infra, National Peroxide, PG Electroplast, Puravankara, Reliance Capital, Reliance Home Finance, Reliance Infrastructure, Reliance Power, Responsive Industrie, Ruchi Soya Industries, Orient Refractories, Panacea Biotec, MMTC, Mishtann Foods, Mukand, Gujarat Apollo Industries, Gujarat Fluorochemicals, Balkrishna industries, BF utilities.

Fund View:

Vodafone Goldman Sachs Maintained ‘Neutral’; cut price target to Rs 7 from Rs 7.2. In line quarter but cash flow profile weak. Ebitda significantly below its capex and interest payment obligation. FY21 Ebitda to be more then 2x it’s 2019-20 number. Investor focus to remain on leverage position and AGR issue.

Nestle Emkay Downgraded to ‘Hold’ from ‘Buy’; raised price target to Rs 16,000 from Rs 15,900. Q4 sales in line, domestic sales growth of 10% significantly ahead of the peers. High input inflation limits scope for margin expansion and earnings upsides. Current performance and strong growth visibility appear to be priced in.

Page Industries Credit Cuisse Maintained ‘Underperform with a price target Rs 19,500. A large slump in growth and margins, PBT falls 28 percent. Results significantly below estimates, cut FY20-22 earnings estimates by 10 percent. Weak trends on volume growth continue to play out, driven by end consumer offtakes. Realisation growth was driven by pricing and mix, but may not continue. Sharp drop in Ebitda margins was due to the result of heightened competition.

News Update:

Avenue Supermarts’ promoters plan to sell 2.28 percent stake via offer for sale of shares. Promoters to sell up to 1.48 crore shares at a floor price of Rs 2,049 per share for Rs 3,032.52 crore.

Amtek Auto: Financial creditors to the company have approved a resolution plan submitted by Deccan Value Investors. The resolution applicant, according to a person in the know, has offered Rs 2,700 crore to the financial creditors as part of the plan. Of this, Rs 500 crore would be offered upfront while Rs 1,800 crore will be repaid through future receivables over time. Deccan Value will also offer Rs 300 crore through convertible debentures over seven years, the person said.

BPCL: Board approved to initiate the process of divestment of the company’s shareholding of 61.65 percent stake in Numaligarh Refinery as per the decision of Cabinet Committee on Economic Affairs. This divestment would be undertaken subject to the completion of all requisite formalities including inter-alia shareholders’ approval.

HDFC updated its existing medium-term note program for an amount of up to $2.8 billion to issue rupee/foreign currency-denominated bonds in international capital markets.

Mahindra & Mahindra clarified that the Board of SsangYong Motor has approved a 3 years business plan which will lead to the profitability of the company in the year 2022. This plan requires outside funding of $380 – 425 million over a period of three years. About half of this amount is to repay the existing loan and the remaining is to augment the capex required for new product development.

TCS: Board extended the term of V. Ramakrishnan as Chief Financial Officer till April 2021.

Future Retail: Current Chief Executive Officer and Managing Director Kishore Biyani to become executive chairman with effect from March 2020. Rakesh Biyani to become Managing Director of the company till May 2022. Sanjay Jain to become the new CEO from March.

 


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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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