International

Markets:U.S & Europe

Particulars     16th  Feb. Chg Chg(%)
Nasdaq 14,047.50 -47.97 -0.34
Dow 31,522.75 64.35 0.2
FTSE 6,748.86 -7.25 -0.11
CAC 5,786.53 0.28 0
DAX 14,064.60 -44.88 -0.32
Dow Fut.* 31,424.00 -34 -0.11

*As per 17th February

Asian markets:

Particulars       17th Feb Chg Chg(%)
SGX Nifty 15,248.50 -79.5 -0.52
Nikkei 30,202.71 -265.04 -0.87
Straits Times 2,918.20 -17.14 -0.58
Hang Seng 30,744.16 -2.5 -0.01
Shanghai 3,655.09 51.6 1.43

 

ADR Watch:

Particulars                  16th Feb. Chg Chg(%)
Dr Reddy 64.02 -1.88 -2.85
HDFC Bank 83.07 0.03 0.04
ICICI Bank 18.12 0.02 0.11
Infosys 17.75 -0.32 -1.77
Tata Motor 22.21 -0.37 -1.64
Wipro 6.58 -0.15 -2.23

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.92        0.09
Brent 63.16        -0.47
Gold 1792.55        -0.37
Silver 27.38         0.23

 

FIIs & DIIs

Particulars 16th Feb         15th  Feb
FIIs    1144     1234.15
DIIs   -1559  -1048.55

 

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

Global equities witnessed a pullback in mid-week trading as treasury yields surged to the highest in a year. Yield on the benchmark 10-year treasuries touched 1.33% – the highest since February 2020. Benchmark indices in Japan, South Korea and Australia are trading with losses this morning. Chinese equities will resume trading tomorrow after a week-long holiday. Oil prices remained around the $60 per barrel mark as Bloomberg reported that adverse weather conditions impacted production by as much as 2 million barrels per day. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 15,354 as of 8:15 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: FX Reserves, USD on 17th February,2021
  • USD: Core Retail Sales (MoM) (Jan), on 17th February,2021

Fund View:

CLSA On Nestle India Maintains outperform rating Price target cut to Rs 19,000 from Rs 19,400 Weak earnings reflect lower yield and higher taxes Higher marketing spends and staff costs absorbed gross margin benefits Focused approach expected to drive demand; capacity augmentation critical Cut CY21-22 EPS estimates by 2% on lower yield effect and likely higher A&P spends.

UBS On JSW Energy Maintains buy rating Price target raised to Rs 87 from Rs 68 Risk reducing in the existing portfolio Near-term earnings visibility has improved with almost 80% of the existing capacity now covered with PPAs Focus on renewables capacity addition is a key medium-term positive Street is not pricing in the lowered risk in the existing portfolio Higher PPA proportion drives 6% raise in FY22/23 EPS estimates.

Emkay On Varun Beverages Maintains buy rating Price target raised to Rs 1,030 from Rs 875 Faster growth revival in volumes Margins can throw up a potential surprise Forecast Ebitda/EPS CAGR of 14%/28% over CY19-22E Faster-than-expected recovery and improved earnings growth visibility drives multiple revision.

News Update:

Nestle India Q4CY20 (Consolidated, YoY) Revenue up 9% at Rs 3,432.6 crore Vs Rs 3,149.3 crore (Bloomberg Estimate: Rs 3,510.2 crore) Ebitda up 12% at Rs 777 crore Vs Rs 694.1 crore (Bloomberg Estimate: Rs 848.4 crore) Ebitda Margin at 22.6% Vs 22% (Bloomberg Estimate: 24.2%) Net profit up 2% at Rs 483.3 crore Vs Rs 472.6 crore (Bloomberg Estimate: Rs 563.4 crore).

IndusInd Bank: Promoter IndusInd International Holdings completed its capital raise through a rights issue which was oversubscribed. IIHL has also decided to monetise some of the other mature, non-core investments, to support the redemption of the warrants. The funds from this divestment and the rights issue will be remitted on or before February 18, as permitted by SEBI. In a separate filing, promoters IndusInd Ltd. and IndusInd International Holding had pledge 5.64% stake in the bank with Catalyst Trusteeship. Catalyst Trusteeship is acting as security trustee on behalf of lenders.

UltraTech Cement: Finance Committee of the Board of Directors approves allotment of unconditional, unsubordinated and unsecured U.S. Dollar denominated notes worth $400 million or Rs 2,900 crore due on February 16, 2031. The notes will have a coupon rate of 2.8% per annum, payable semi-annually starting August 16, 2021. The notes will be listed on the Singapore Exchange Securities Trading Ltd.

Adani Ports & SEZ: Has completed the acquisition of Dighi Port for Rs 705 crore and would invest over Rs 10,000 crore in developing it as an alternate gateway to JNPT. This would enable the company to service customers in Maharashtra which includes the highly industrial areas in the Mumbai and Pune regions.

ICICI Bank: Has entered into an agreement to acquire 9.65% stake in Thillais Analytical Solutions – a fintech startup operating a neo-banking platform called Vanghee. The stake will be purchased for a cash consideration of Rs 1.1 crore. The lender will also invest a sum of Rs 4.93 crore in Tap Smart Data Information Services, post which, it will hold 5.4% stake in the fintech company.

Infosys: Infosys McCamish Systems, a U.S.-based subsidiary of Infosys BPM, has bought the business and underwriting platform of STEP Solutions Group LLC to ease the complexity of all types of insurance products such as Life, Annuity, and Health, for individuals and groups across North America. STEP Solutions Group LLC is an affiliate of the Dillon Kane Group LLC, based in Chicago.

Source: MoneyControl, Business Standard, Bloomberg,Investing

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