International Markets:

U.S & Europe

Particulars 16th   Jan Chg Chg(%)
Nasdaq 9357.13 98.43 1.06
Dow* 29297.64 267.42 0.92
FTSE 7609.81 -32.99 -0.43
CAC 6039.03 6.42 0.11
DAX 13429.43 -2.87 -0.02
Dow Fut.* 29296.00 56.00 0.19

*As per 17th Jan

Asian markets:

Particulars 17th   Jan. Chg Chg(%)
SGX Nifty* 12365.50 -6.00 -0.05
Nikkei 24064.00 130.87 0.55
Straits Times 3272.75 -5.25 -0.16
Hang Seng 28996.47 113.43 0.39
Shanghai 3079.34 5.26 0.17

 

ADR Watch:

Particulars 16th Jan. Chg Chg(%)
Dr Reddy 41.26 -0.33 -0.79
HDFC Bank 61.64 -0.82 -1.31
ICICI Bank 14.97 -0.01 -0.07
Infosys 10.85 0.00 0.00
Tata Motor 13.82 -0.13 -0.93
Wipro 3.80 0.04 1.06

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 70.9362 0.17
Brent 64.53 -0.14
Gold 1552.95 0.16
Silver 17.983 0.25

 

FIIs & DIIs

Particulars 16th  Jan. 15th  Jan.
FIIs -395.24 279.53
DIIs -184.65 -648.34

 

View on market: Buy on dips

Asian stocks climbed and the global record-setting rally showed little sign of letting up amid signs of strong American consumer demand. Shares opened higher in Japan, South Korea and Australia. Futures on the S&P 500 nudged up. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.07 percent to 12,363.50 as of 7:50 a.m.

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

HCL Tech, Reliance, TCS, Blue Dart Express, Fertilizers and Chemicals Travancore, ICICI Lombard General Insurance, L&T Finance Holdings, L&T Technology Services

Fund View:

Balkrishna Industries Nomura Maintained ‘Buy’ with a price target of Rs 1,148. Backward integration at Bhuj plant through an in-house carbon black plant and lower power costs are favourable cost levers. Wide variety of tyres, good customer feedback/loyalty, and lower cost of operations alleviate the threat from competition and lead to the sustainable moat. Valuation is not expensive given the company’s growth outlook.

Max Financial Services UBS Maintained ‘Buy’; hiked price target to Rs 640 from Rs 550. The stock has been volatile but the sentiment could improve. Axis open architecture may not be negative for Max from current levels. Premium growth likely in the teens.

Indian Pharmaceuticals HSBC Execution of major the U.S. launches and FDA quality compliance will be key in 2020. Upgrade Dr Reddy’s to Buy from Hold on its improving outlook; price target hiked to Rs 3,230 from Rs 2,760. Prefer Biocon and Aurobindo.

Maruti Suzuki IIFL Maintained ‘Buy’ with a price target of Rs 9,000. Sharp earnings growth in an up-cycle would be magnified by margin expansion. Competitive intensity benign, but slight market-share loss possible in the near-term. Premium multiples to uphold.

Rallis India Emkay Maintained ‘Buy’ with a price target of Rs 215. All-round beat in the third quarter on the back of 35 percent YoY growth in the domestic business. Best performance in the last six years albeit on a low base. Initiative to fill portfolio gaps coupled with new trade terms is paying off.

Telecom: UBS The decision is clearly negative for Vodafone Idea as the company’s faces meaningfully large liability. Will closely monitor the outcome of a curative petition if any.

 

News Update:

Bharti Airtel, Vodafone Idea and Reliance Industries: The Supreme Court dismissed petitions of telecom operators seeking review of the definition of ‘adjusted gross revenue’ that makes them liable to pay thousands of crores in pending dues.

Bharti Airtel said that long-standing disputed on AGR are bonafide and genuine and the company is evaluating filing a curative petition. The telco also stated that the telecom industry continues to face severe financial stress and the court order could further erode the viability of the industry, in a media statement.

Vodafone Idea is exploring further options, including the filing of a curative petition on the AGR Matter.

Zee Group Stocks: The Securities and Exchange Board of India imposed a fine totalling Rs 9 lakh on Zee Media Corporation and its promoter entity 25FPS Media for shareholding disclosure lapses, according to Bloomberg report.

Yes Bank: Moody’s placed the lender’s rating under review, according to Bloomberg report.

Dishman Carbogen Amcis: Board approved share buyback up to a maximum of 48 lakh shares or 2.97 percent equity at Rs 150 apiece, aggregating to Rs 72 crore. The buyback price is at a premium of 69 percent to closing prices as Jan. 16. Post the share buyback, the promoters stake expected to increase to 63.28 percent from 61.4 percent, while public shareholders stake to fall to 36.72 percent from 38.6 percent.

Rallis said that production is expected to commence for Dahej chemical plant in 2020-21. Metribuzin Phase II expansion of 500 MTPA is expected to be commercialised by February. The board also approved setting rose of R&D Facility in Bengaluru.

CG Power: Belgium’s Commercial Court has appointed to two interim directors on the Board of the company’s two arms in Belgium to act as their provisional administrators.

Nilkamal’s Sri Lankan arm has repurchased equity shares from other existing shareholders. The company’s stake in the Sri Lankan arm has increased to 96.28 percent from 76 percent.

 


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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