International Markets:

U.S & Europe

Particulars 14th   Jan Chg Chg(%)
Nasdaq 9251.33 -22.60 -0.24
Dow* 28939.67 32.62 0.11
FTSE 7622.35 4.75 0.06
CAC 6040.89 4.75 0.08
DAX 13456.49 4.97 0.04
Dow Fut.* 28859.50 -74.50 -0.26

*As per 15th Jan

Asian markets:

Particulars 15th   Jan. Chg Chg(%)
SGX Nifty* 12370.00 -20.00 -0.16
Nikkei 23961.69 -103.48 -0.43
Straits Times 3269.44 -1.10 -0.03
Hang Seng 28713.27 -171.87 -0.60
Shanghai 3084.64 -22.18 -0.71

 

ADR Watch:

Particulars 14th Jan. Chg Chg(%)
Dr Reddy 41.89 0.28 0.67
HDFC Bank 62.81 -0.04 -0.06
ICICI Bank 15.04 -0.04 -0.27
Infosys 10.86 -0.02 -0.18
Tata Motor 13.75 0.03 0.22
Wipro 3.93 0.01 0.26

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 70.8763 0.03
Brent 64.27 -0.34
Gold 1551.65 0.46
Silver 17.852 0.62

 

FIIs & DIIs

Particulars 13th  Jan. 13th  Jan.
FIIs -205.56 68.24
DIIs -642.47 47.17

 

View on market: Buy on dips

U.S. stock futures declined and Japanese shares opened lower after Reuters reported the Trump administration is drafting rules that would allow blocking more sales to Huawei, a sign that tensions between the two powers remain high despite the upcoming trade deal due to be signed later Wednesday. Japan’s Topix index slipped along with equities in Seoul, while gains eased for Australian shares. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.13 percent to 12,372.50 as of 8:00 a.m.

 

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

Larsen & Toubro Infotech, Sterlite Technologies, Reliance Industrial Infrastructure, Tinplate ,Den Networks, Plastiblends.

Fund View:

Wipro HSBC Maintained ‘Hold’ with a price target of Rs 270. Q3 results were in line, but Q4 guidance misses street estimates. Commentary on a strong deal funnels a positive. FY21 revenue growth is still unlikely to converge with the industry.

Mindtree Morgan Stanley Maintained ‘Underweight’; hiked price target to Rs 820 from Rs 725. Q3 revenue marginally softer, but margins were significantly ahead of expectations. Hike FY20-22 EPS estimates by up to 9% due to strong margin display in the third quarter. The stock is already discounting this improvement; future outperformance to be driven by an uptick in revenue growth.

IndusInd Bank Maintained ‘Sell’ with a price target of Rs 1,210. Quality of earnings deteriorates further. Growth and margins weaker than expected, fees were inline. Asset quality pressures showing up; mgmt. gives strong guidance for FY21 despite missing it in FY20

Bandhan Bank Kotak Securities Maintained ‘Reduce’; cut price target to Rs 540 from Rs 550. Business performance was softer than normalised trends led by slower growth in MFI. NIM was impacted QoQ by few one-offs such as interest income de-recognition and excess liquidity. The benefit of the diversification would take time to fructify.

News Update:

Canara Bank called off the divestment process of its entire stake in Can Fin Homes, which was under the progress. The bank has 30 percent stake in Can Fin Homes.

National Peroxide stated that expansion of its plant at Kalyan, Maharashtra is under progress and is expected to be commissioned around last week of January.

Yes Bank will seek shareholder’s nod for increasing authorised share capital from Rs 800 crore to Rs 1,100 crore, and to authorise this capital raising via issue of equity or other convertible securities, on Feb. 7. The Bank also acquired 30 percent stake in Reliance Power’s wholly-owned arm Rosa Power Supply through invocation of a pledge of 12.73 crore shares.
Corporation Bank revised marginal cost of funds based lending rate across various tenors with effect from Jan. 15. One-month MCLR at 7.75 percent and one- year MCLR at 8.5 percent.

Pidilite Industries incorporated a joint venture to carry on the business of manufacturing, processing and distribution of technical mortars and other materials used in construction.

CSB Bank said that the regulatory restrictions imposed by the Reserve Bank of India on the opening of new branches, in view of the delayed initial public offering of shares of the Bank, have been lifted, with effect from Jan. 10. The Bank can now open new branches subject to approval from RBI.

Reliance Power’s promoters stake fell from 36.71 percent to 32.79 percent after an invocation of 11 crore shares (3.92 percent) made by promoter Reliance Infrastructure on Jan. 13.

SBI: The lender has revised interest rates on fixed deposits (FD) maturing between 1 year to 10 years. The bank has introduced a 15 basis points (bps) rate cut in the long-term deposits with the aforementioned maturity terms.

Panorama Studios: The company’s board will meet on January 15 to consider and approve the issuance of warrants and the preferential issue of shares.

 


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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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