International

Markets:U.S & Europe

Particulars 12th Feb. Chg Chg(%)
Nasdaq 14,095.47 69.7 0.5
Dow 31,458.40 27.7 0.08
FTSE 6,589.79 61.07 0.94
CAC 5,703.67 33.85 0.6
DAX 14,049.89 8.98 0.06
Dow Fut.* 31,520.50 123.5 0.39

*As per 15th February

Asian markets

Particulars 15th Feb Chg Chg(%)
SGX Nifty 15,238.00 80 0.53
Nikkei 29,867.18 347.11 1.18
Straits Times 2,943.13 17.65 0.6
Hang Seng 30,173.57 134.85 0.45
Shanghai 3,655.09 51.6 1.43

 

ADR Watch:

Particulars 12th Feb. Chg Chg(%)
Dr Reddy 65.9 -0.28 -0.42
HDFC Bank 83.04 2.03 2.51
ICICI Bank 18.1 0.55 3.13
Infosys 18.07 0.24 1.35
Tata Motor 22.58 0.33 1.48
Wipro 6.73 0.11 1.66

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.57 -0.02
Brent 63.54 1.78
Gold 1824.10 0.04
Silver 27.63 1.12

 

FIIs & DIIs

Particulars 12th Feb 11th Feb
FIIs -37 944.36
DIIs -598 -707.68

 

View on market: Stay Cautious, be with quality business:

Asian equities have begun the new week with gains after a positive close on Wall Street last Friday. Benchmark indices in Japan and Australia are edging higher with the Nikkei 225 index crossing the mark of 30,000 for the first time since 1990. Markets in China, Hong Kong and Taiwan remain shut today as will the U.S. equities on account of Presidents’ Day. The Singapore-traded SGX Nifty, early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 15,225 as of 7.30 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: WPI Inflation (YoY) on 15th February,2021
  • INR: Trade balance (Jan), on 15th February,2021

Fund View:

CLSA On Motherson Sumi Upgrade to buy from outperform Price target raised to Rs 250 from Rs 175 Consolidated financials reverting to historical peaks Sustained turnaround at SMP was the biggest positive Focus on free cash flow, deleveraging and group reorganisation remains on track Free Cash Flow generation and RoE improvement should drive re-rating Expect company to turn net cash by FY23 Raise FY22-23 EPS estimates by 21-29% to factor in better margins.

Nomura On Bharat Forge Maintains neutral rating Price target raised to Rs 649 from Rs 491 Domestic MHCVs will likely recover stronger over FY22-24F Loss of oil & gas business can be covered up in the medium-term from new segments Company may need to look at areas beyond metal forgings to grow beyond the cyclical recovery Raise Ebitda margin forecasts to 27.2%/28.7% and revenue forecasts by 20%/7% for FY22/23F Remain neutral as rebound is factored in Prefer Motherson Sumi & Minda Industries in the auto components space.

Citi On Grasim Maintains buy rating Price target raised to Rs 1,430 from Rs 1,210 Standalone balance sheet remains resilient Sale of fertiliser business is likely to be completed by July 2021 Raise FY21-23E Ebitda estimates by 8-17% on higher VSF margins While paints foray may allay cash use concerns, holdco discount may remain on until execution clarity.

News Update:

ONGC Q3FY21 (Standalone, QoQ) Revenue up 0.6% at Rs 17,023.8 crore Vs Rs 16,917.1 crore (Bloomberg Estimate: Rs 16,958.9 crore) Net profit down 52.1% at Rs 1,378.2 crore Vs Rs 2,877.8 crore (Bloomberg Estimate Rs 2291.6 crore) Ebitda down 6.9% at Rs 6,507.6 crore Vs Rs 6,989.4 crore (Bloomberg Estimate Rs 7,671 crore) Ebitda margin at 38.2% Vs 41.3% (Bloomberg Estimate 45.2%) Realisations down 24.6% to $43.91/bbl Vs $58.24/bbl (YoY).

Tata Motors: Has appointed Marc Llistosella as Chief Executive Officer and Managing Director of the company effective July 1, 2021.

Godrej Industries:

The Board of Directors has granted approval for engaging in financial services business. To pursue the opportunity in housing finance business, the Board has approved the proposal of acquiring shares of Godrej Housing Finance — which recently obtained a license to operate as a Housing Finance Company from Anamudi. Further the company will pursue non-retail lending opportunities through another subsidiary i.e., Ensemble Holdings and Finance, a non-banking finance company. Accordingly, the Board has approved acquiring 95% stake in GHFL through a subsidiary of the company, i.e., Pyxis, Further, Pyxis will also acquire shares of EHFL. The Board of Directors have also approved increase in borrowing powers of the company from Rs 2,000 crore to Rs 4,500 crore.

Havells India:

Is planning to set-up a new facility to manufacture washing machines in Ghiloth in Rajasthan with an estimated investment of Rs 65 crore and an annual capacity of 3 lakh units. Further the company is also planning to set-up a new facility to manufacture air conditioners at Sri City in Andhra Pradesh with an estimated investment of Rs 250 crore and an annual capacity of 5.6 lakh units. The new capacity is proposed to be added within the next 12-18 months and will be funded through internal accruals and term loans.

Info Edge (India):

Has entered into an agreement through its wholly-owned subsidiary, to invest about Rs 9 crore, in 4B Networks. The company will acquire 1,747 Compulsorily Convertible Preference Shares of 4B Networks. The aggregate shareholding of the company, post this investment, in the said entity would be 12.3% on a fully converted & diluted basis. Bata India: Rajeev Gopalakrishnan re-appointed as the company’s managing director up to September 30, 2021.

                                                                                                                                                   Source: MoneyControl, Business Standard, Bloomberg,Investing

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