International Markets:

U.S & Europe

Particulars 15th   Jan Chg Chg(%)
Nasdaq 9258.70 7.37 0.08
Dow* 29030.22 90.55 0.31
FTSE 7642.80 20.45 0.27
CAC 6032.61 -8.28 -0.14
DAX 13432.30 -24.19 -0.18
Dow Fut.* 29052.50 23.50 0.08

*As per 16th Jan

Asian markets:

Particulars 16th   Jan. Chg Chg(%)
SGX Nifty* 12356.00 -3.50 -0.03
Nikkei 23947.89 31.31 0.13
Straits Times 3268.18 11.20 0.34
Hang Seng 28954.62 181.03 0.63
Shanghai 3091.75 1.71 0.06

 

ADR Watch: 

Particulars 15th Jan. Chg Chg(%)
Dr Reddy 41.59 -0.30 -0.72
HDFC Bank 62.46 -0.35 -0.56
ICICI Bank 14.98 -0.06 -0.09
Infosys 10.85 -0.01 -0.09
Tata Motor 13.95 0.20 1.45
Wipro 3.76 -0.17 -4.33

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 70.8175 -0.08
Brent 64.41 0.64
Gold 1556.95 0.19
Silver 17.992 0.02

 

FIIs & DIIs

Particulars 15th  Jan. 14th  Jan.
FIIs 279.53 -205.56
DIIs -648.34 -642.47

 

View on market: Buy on dips

Stocks in Asia saw a muted start to Thursday trading as investors parsed details of the U.S.-China phase one trade deal. Shares in Japan and South Korea opened flat, while Australian equities were modestly higher. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.09 percent to 12,348 as of 6:57 a.m.

World stocks inched to a record high on Thursday after the United States and China signed a deal to defuse their 18-month trade war, which has weighed on global economic growth and hampered investments.

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

Tata Metaliks, Karnataka Bank, South Indian Bank, Rallis India, Hathway Cable & Datacom, Cyient, Asahi Industries, Aditya Birla Money, 5Paisa Capital.

The Reserve Bank of India (RBI) on January 15 said that Michael Debabrata Patra took over as Deputy Governor at the central bank for a period of three years. He replaces Viral Acharya who quit the post six months before end of his three-year term. Prior to this appointment, Patra was Executive Director at RBI.

Fund View:

Bharti Airtel CLSA Maintained ‘Buy’; cut price target to Rs 565 from Rs 570. Awaited verdict on AGR petition; funding of AGR payment risks assuaged. See accelerating growth led by tariff hikes and 4G data adoption. India mobile revenue and consolidated Ebitda to grow at a CAGR of 16%/23% over FY20-22.

Sun Pharma CLSA Maintained ‘Buy’ with a price target of Rs 570. Revenue from specialty products expected to jump 40 percent by the third quarter to $125 million. See improved profitability in India and further scale-up in emerging markets. In 2020 all eyes will be on the ramp-up of specialty products Ilumya and Cequa in the U.S.

Dr Reddy’s Nomura Maintained ‘Buy’; hiked price target to Rs 3,437 from Rs 3,200. Business restructuring and cost controls lay a strong foundation for sustainable growth. Company has moved away from an excessive focus on a few assets and investing in specialty front-end. Expect Ebitda margin and RoCE of 24.5 percent and 18 percent in FY22 – below mgmt. guidance.

Sterlite Tech Axis Capital Maintained ‘Buy’; cut price target to Rs 165 from Rs 175. Revenue trajectory on decline; order book improves. Products may remain under pressure; order book still strong. Moderation in revenue trajectory a near-term concern.

L&T Infotech Emkay Maintained ‘Hold’; hiked price target to Rs 1,820 from Rs 1,520. Third-quarter results were rock solid from a revenue standpoint. Commentary confident suggesting growth visibility within top clients. L&T Infotech I is the only company which has surprised on revenue growth front among peers.

News Update:

Asian Paints said that it is examining the Competition Commission of India order and will take appropriate legal recourse. It added that it will extend full cooperation to CCI. The CCI had directed investigation against the company on a complaint made by JSW Paints.

DFM Foods said that its promoters and other shareholders have executed the transfer of their shareholding to AI Global Investments. In a separate filing, the company stated that AI Global Investments (Cypus) PCC stake has increased from 4.63 percent to 73.94 percent from Jan. 13-15.

Jet Airways: South American conglomerate Synergy Group and New Delhi-based Prudent Asset Reconstruction Company submit an expression of interest for the company. Creditors will assess EoIs to establish bidder quality.

Mangalam Cements said that it’s Waste Heat Recovery Plant has commissioned 5.15 megawatt of capacity on Jan. 15 and the remaining capacity of 5.85MW is expected to be commissioned in the current quarter.

InterGlobe Aviation: Qatar Airways chief executive officer said the company will buy as much stake of the company, as possible. (BN)

ICICI Bank said that post the proposed capital raise by Kisan Finance, ICICI Bank’s shareholding in Kisan Finance will reduce from 9.9 percent to 7.4 percent.

PI Industries received certifications from the British Standards Institute for implementation of information security for its plants.

Torrent Pharma will consider raising funds via QIP on Jan. 27.

Indian Oil Corporation raised Rs 2,000 crore via debentures on Jan. 14.


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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