International Markets:

U.S & Europe

Particulars 16th  Dec Chg Chg(%)
Nasdaq 8814.23 79.35 0.91
Dow* 28235.89 100.51 0.36
FTSE 7519.05 165.61 2.25
CAC 5991.66 72.64 1.23
DAX 13407.66 124.94 0.94
Dow Fut.* 28227.50 -35.50 -0.13

*As per 17th Dec

Asian markets:

Particulars 17th   Dec. Chg Chg(%)
SGX Nifty* 12097.50     27.50    0.23
Nikkei 24023.77 71.42 0.30
Straits Times 3208.27 2.18 0.07
Hang Seng 27614.13 106.04 0.39
Shanghai 2985.92 1.53 0.05

 

ADR Watch:  

Particulars 16th  Dec. Chg Chg(%)
Dr Reddy 40.23 -0.22 -0.54
HDFC Bank 63.26 -0.19     -0.30
ICICI Bank 15.19 0.01 0.07
Infosys 10.13 0.05 0.50
Tata Motor 12.39 0.03 0.24
Wipro 3.76 0.05 1.35

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 70.915 0.00
Brent 65.33 -0.02
Gold 1480.15 -0.02
Silver 17.087     -0.15

 

FIIs & DIIs

Particulars 16th  Dec. 13th  Dec.
FIIs 728.13 115.70
DIIs     -796.38 384.92

 

View on market: Buy on dips

Asian stocks saw modest gains Tuesday after new highs on Wall Street, amid investor optimism over easing U.S.-China trade tensions. Stocks edged higher in Tokyo and Seoul, and were flat in Australia after outperforming in Asia Monday. S&P 500 futures slipped. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.23 percent to 12,097.50 as of 8:00 am.

Key Data/ Action and Board meeting to watch:

Asian Paints to meet Invesco Advisors and American Century Investment Management from Dec. 19-19.

Tata Steel to meet East Bridge Capital on Dec. 17.

Cipla to meet HDFC AMC, Premji Invest and other investors from Dec. 17-24.

Care Ratings to meet Edelweiss Securities and Acacia Partners from Dec. 19-20.

ACC to meet Millennium Capital Management on Dec. 17.

Maruti Suzuki: BofA Securities Upgraded to ‘Buy’ from ‘Neutral’, raised price target to Rs 8,650 from Rs 7,450. Well placed for cyclical uptick in 2021-22 with limited BS6 risks. Earnings downgrade cycle to bottom in 2019-20. Best placed for recovery in passenger vehicles segment.

Amara Raja Batteries: Kotak Maintained ‘Add’; raised price target to Rs 800 from Rs 720. Automotive segment revenues trajectory to remain robust over the next three years. New segments such as motive power, solar energy and e-rickshaws to aid industrial segment.

Ultratech: IIFL Cement Maintained ‘Sell’ with a price target of Rs 3,350. Recommend Sell due to rich valuation and sluggish sector fundamentals. See flattish cycle for the industry for the next two years too. Industry utilisation is likely to decline in 2019-20 due to weak demand growth. Flattish cycle for the past few years has resulted in dependency on discipline.

News Update:

Cipla acquired the brand name and trademark rights of Vysov (anti-diabetic drug) for the Indian market.

NIIT Technologies: Board will consider proposal for share-buyback on Dec. 23.

Reliance Industries and British energy giant BP Plc. on Monday signed a partnership agreement to jointly grow the Indian firm’s network of petrol pumps to 5,500 from current 1,400, according to its statement. The venture is expected to be formed during the first half of 2020, subject to regulatory and other customary approvals.

Shriram Transport Finance: S&P Finance revised company’s outlook to ‘Negative’ from ‘Stable’. The rating agency has affirmed ‘BB+’ long-term and ‘B’ short-term issuer credit ratings on the company. The revision in the outlook is due to the increased risk of a deterioration in the company’s asset quality, which could also affect availability of credit to the company over the next 12 months or so.

Magma Fincorp: ICRA revised company’s outlook from ‘Negative’ to ‘Stable’ for term loans and non-convertible debentures worth Rs 2,391.67 crore. The ratings for these instruments have been reaffirmed at ‘AA-’. The revision in the outlook on the Group’s rating factors in the deterioration in the asset quality indicators following the reduced collection efficiencies in certain geographies and loan segments of commercial vehicles and construction equipment.

IRB Infra: Board approved allotment of NCDs amounting to Rs 1,400 crore on a private placement. About 50 percent of this issue has been subscribed by GIC affiliate and the balance by company’s arm.

Raymond promoter JK Investo Trade increased the stake from 4.57 percent to 9.49 percent in the company via preferential allotment on Dec. 12.

Elgi Equipments has acquired 100 percent stake in Michigan Air Solutions for Rs 42 crore. The target company is the distributor and specialist in air compressor sales, maintenance and services.

Mcleod Russel: Financial creditor Techno Electric & Engineering filed an application under insolvency proceeding before NCLT Kolkata for recovery of term loan of Rs 100 crore. Them matter has been adjourned for hearing on Jan. 28.

Whirlpool: Sunil D’Souza to resign as the managing director with effect from April 3, 2020. Vishal Bhola has been appointed the new MD.


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


For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan