International Markets:

U.S & Europe

Particulars 16th March Chg Chg(%)
Nasdaq 6904.59 -970.29 -12.32
Dow 20188.52 -2997.10 12.93
FTSE 5151.08 -215.03 -4.01
CAC 3881.46 -236.90 -5.75
DAX 8742.25 -489.83 -5.31
Dow Fut.* 20845.00 598.5 2.93

*As per 17th March

Asian markets:

Particulars 17th  March Chg Chg(%)
SGX Nifty* 9146.00 43.50 0.48
Nikkei 16942.69 -59.35 -0.35
Straits Times 2485.78 -9.99 -0.40
Hang Seng 22848.27 -215.30 -0.93
Shanghai 2758.52 -30.73 -1.10


ADR Watch:

Particulars 16th March Chg Chg(%)
Dr Reddy 35.72 -3.14 -8.08
HDFC Bank 43.14 -4.53 -9.50
ICICI Bank 10.28 -1.10 -9.67
Infosys 7.37 -1.01 -12.05
Tata Motor 5.08 -1.01 -16.58
Wipro 2.76 -0.30 -9.80


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.2725 0.49
Brent 30.11 0.20
Gold 1488.30 0.12
Silver 12.707 -0.85



Particulars 16th  March 13th  March
FIIs 3809.93 -6027.58
DIIs 2614.54 +5867.90


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

U.S. futures advanced and the yen slid in volatile trading after the biggest slide in Wall Street stocks since 1987. Japan’s share benchmark swung from a loss of 3 percent to a gain of as much as 1.7 percent. Australia rose, while Korea was down. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 2.9 percent to 9,381 as 7:55 a.m.

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

Indiabulls Housing Finance has moved to Bombay High Court against Yes Bank and Reserve Bank of India. The company has filed a writ petition under provisions of the Banking Regulation Act, 1949.

Yes Bank to be removed from all S&P BSE Indices with effect from March 20.

Fund View:

GAIL Nomura Buy rating maintained Price target cut to Rs 140 from Rs 190 Low commodity prices impact petchem, marketing segments Concerns rise on commodity businesses with low oil prices Worst seems to be priced in but stock needs a few catalysts in this volatile scenario.

Indian Financials Morgan Stanley Events have increased downside risks Large private banks remain better placed Near-term volatility to remain high Sharp fall implies attractive risk reward.

Indian FMCG SBICAP Valuations now below 3 and 5-year historical averages post correction See near-term spike in demand Slowdown to have negative impact in medium-term Correction in quality businesses with professional management offers good entry opportunity.

Adani Ports Macquarie Outperform rating maintained Price target cut to Rs 435 from Rs 473 Less than 4% direct exposure to China mitigates volume risk Expect trade flows to recover quickly after COVID-19 subsides Cut container volume estimates for FY21/22 by 6-7 percent.

UPL Morgan Stanley Downgrade to equal-weight from overweight Price target cut to Rs 429 from Rs 654 Increased uncertainty about demand and supply Crude price benefits may be passed on to consumers Adverse currency implies low operating cash flow & less net debt reduction.

Indian I.T. Morgan Stanley Key Risks: Global growth moving lower, dislocations in some verticals I.T. Vendors have alluded to small impact on business so far Downgrade industry view to in-line from attractive Lower growth estimates for large caps.

News Update:

Grasim Industries: The Competition Commission of India imposed penalty of Rs 301.6 crore in respect to its domestic man-made fibre turnover. The company said it is yet to receive the order and believes that on merits it has sufficient ground for an appeal.

Reliance Industries: Saudi Aramco CFO said that talk with the company is going on and a potential deal is under due diligence. (Bloomberg News)

Sadbhav Infrastructure Project received Rs 457.7 crore as a tranche payment in connection with a sale of its seven operational projects to IndInfravit Trust. Overall company’s infra arm has received 1291 crore units worth Rs 724.3 crore from the Trust.

ONGC declared a dividend of Rs 5 per share, with record date being set as March 24. The dividend yield is at 8.31 percent to the closing market prices on March 2016.

Lasa Supergenerics in collaboration with the Institute of Chemical Technology announced commencement for the development of antiviral drugs for the treatment of coronavirus.

CSB Bank: Board approved a proposal to merge 19 branches of the Bank with the nearest branches of the Bank, with the intention of reducing overall costs and improving productivity.

India Cements: Radhakishan Damani increased stake from 11.98 percent to 16 percent in the company from Feb. 27 to March 16.

Titagarh Wagons said that operations of its Italian arm have been severely affected and the affected arm will temporarily suspend operations for 15 days as per the guidance of the Italian government to combat the spread of coronavirus.

GHCL clarified that after the demerger of the company, both its business of inorganic chemicals and textiles business will be separately listed companies after getting approval from NCLT. Shareholders of demerged companies will get one equity share of the resulting company, i.e. textile company.

Delta Corp to close casinos operated by the company and its arms in Goa until March 31, as per Goa government directions in order to prevent the spread of coronavirus.



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