International Markets:

U.S & Europe

Particulars 17th  Dec Chg Chg(%)
Nasdaq 8823.36 9.13 0.10
Dow* 28267.16 31.27 0.11
FTSE 7525.28 6.23 0.08
CAC 5968.26 -23.40 -0.39
DAX 13287.83 -119.83 -0.89
Dow Fut.* 28289.50 5.50 0.02

*As per 18th Dec

Asian markets:

Particulars 18th   Dec. Chg Chg(%)
SGX Nifty* 12209.00     17.00    0.14
Nikkei 23995.28 -70.84 -0.29
Straits Times 3210.68 9.88 0.31
Hang Seng 27916.78 73.07 0.26
Shanghai 3026.22 3.80 0.13


ADR Watch:  

Particulars 17th  Dec. Chg Chg(%)
Dr Reddy 40.48 0.25 0.62
HDFC Bank 64.37 1.11      1.75
ICICI Bank 15.22 0.03 0.20
Infosys 10.29 0.16 1.58
Tata Motor 12.77 0.38 3.07
Wipro 3.80 0.04 1.06


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.035 0.00
Brent 65.82 -0.42
Gold 1480.45 -0.01
Silver 17.052     -0.12



Particulars 17th  Dec. 16th  Dec.
FIIs 1248.47 728.13
DIIs    -908.16    -796.38


View on market: Buy on dips

Asian stocks were mixed today as investors take a breather after the partial U.S.-China trade deal that sent global equities close to record highs. Shares dipped in Tokyo and were little changed in Sydney and Seoul. U.S. futures were flat. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.1 percent to 12,202.50 as of 7:50 a.m.

Key Data/ Action and Board meeting to watch:

Affle to meet Axis Capital and Taiyo Pacific Partners from Dec. 18-19.

Mahindra & Mahindra Financial Services to meet Enam Asset Management and Matthews International Capital from Dec. 18-23.

Fund View:

Hindalco HSBC Maintained ‘Buy’ with a price target at Rs 260. Management expects Novelis to sustain Ebitda per tonne upwards of $400. Merger economics will not be impacted by potential sale of Aleris’s auto sheet facilities. Company has no plans to infuse further capital in IDEA. Hindalco is preferred name in India non-ferrous metals space.

Dr Reddy’s Laboratories Credit Suisse Maintained ‘Outperform’ with a price target Rs 3,055. Revlimid trial delayed by six months due to delay in closure of expert discovery. Revlimid is a large opportunity for Dr. Reddy’s, in which the case in terms of timing is ahead of others. Revlimid could add more than $500 mn NPV for Dr. Reddy’s even in the worst case.

HUL Goldman Sachs Maintained ‘Sell’ cut price target to 1,730 from 1,771. Lower our FY20E-22 EPS by 1-2 percent to factor in slower sales growth. Expect volume growth of 5 percent in both December quarter and March quarter for HUL. See implication on rural focused cos like Dabur, Colgate and Emami.

News Update:

Telecom Stocks: India’s telecom operators will continue to pay cross-network call charges for another year—a move that will benefit the two incumbent operators Bharti Airtel Ltd. and Vodafone Idea Ltd. For domestic calls, the interconnect use charge of Rs 0.06 per minute will now stay till Dec. 31, 2020, the Telecom Regulatory Authority of India said in a media note today. “From Jan. 1, 2021 onwards, the termination charge for wireless to wireless domestic calls shall be zero.”

NMDC received extension in respect of mining leases for four deposits for 20 years by Chhattisgarh Government. The mining leases were earlier valid up to March 2020. The company has also received an allocation of Rohne Coal Block, which would ensure the coking coal requirement of NMDC’s upcoming steel plant at Nagarnar, Chattisgarh to some extent. The mineral company said in a media statement that the allocation would reduce the import of coking coal.

NBCC received approval from the committee of creditors to take over Jaypee Infratech.

HDFC reappointed Renu Sud Karnad as Managing Director of the Corporation till September 2022.

Future Chain Solutions: Board approved allotment of 37.89 lakh shares to Nippon Express on a preferential basis at a price of Rs 664 per share, which is at a 36 percent premium to the closing prices as on Dec. 17.

Tata Motors: Jaguar Land Rover Automotive Plc plans to sell high-yield bonds for the second time in less than a month following last week’s U.K. election result and an initial trade agreement between the U.S. and China. The company is raising an additional 200 million euros of its 6.875 percent notes due 2026, the proceeds of which will be used for general corporate purposes, according to Bloomberg report.

Tata Group:

Tata Power received National Company Law Tribunal Mumbai’s nod for transferring the Strategic Engineering Division to Tata Advanced Systems.

Tata Motors received NCLT Mumbai’s nod for transferring of the Defense Undertaking to Tata Advanced Systems. NCLT Hyderabad’s approval is still pending in respect of application filed by Tata Advanced Systems for both aforementioned schemes.

TCS: America’s pet speciality retailer Petco to deploy the company’s digital merchandising solutions.

Whirlpool, Blue Star, Voltas: TCL to enter AC Market in India next month and launch internet enabled models with plans to locally manufacture them, India MD Mike Chen said. (BN)

Nocil promoter Hrishikesh Mafatlal and Gurukripa Trustees increased their stake from 1.01 percent to 64.35 percent, as a result of acquiring the holding of acquirer in Suremi Trading, which held 12.54 percent stake in Nocil.



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