International

Markets: U.S & Europe

Particulars    17th  Mar. Chg Chg(%)
Nasdaq 13,525.20 53.63 0.4
Dow 33,015.37 189.42 0.58
FTSE 6,762.67 -40.94 -0.6
CAC 6,054.82 -0.61 -0.01
DAX 14,596.61 39.03 0.27
Dow Fut.*    33,039.00 135     0.41

*As per 18th March

Asian markets:

Particulars       18th Mar. Chg Chg(%)
SGX Nifty 14,941.50 170 1.15
Nikkei 30,402.46 488.13 1.63
Straits Times 3,144.71 35.06 1.13
Hang Seng 29,413.33 379.21 1.31
Shanghai 3,457.29 11.74 0.34

ADR Watch:

Particulars                 17th Mar.  Chg Chg(%)
Dr Reddy 59.74 -1.92 -3.11
HDFC Bank 79.7 -2.63 -3.19
ICICI Bank 16.41 -0.3 -1.8
Infosys 19.1 -0.23 -1.19
Tata Motor 21.33 -0.48 -2.2
Wipro 6.49 -0.15 -2.26

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.34          -0.29
Brent 67.59          -0.59
Gold 1753.10            1.51
Silver       26.70           2.49

FIIs & DIIs

Particulars 17th Mar       17th  Mar
FIIs     2626         1692
DIIs     -562        -1169

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

Most Asian equities rose on Thursday with the U.S. Federal Reserve projecting near-zero interest rates through 2023. Benchmark indices rose in Japan and South Korea while markets in Australia fluctuated. Overnight, the Dow Jones Industrial Average closed at an all-time high while the S&P 500’s gains were led by sectors like consumer discretionary and industrials. Treasury yields eased while the U.S. Dollar held losses as compared to most of its peers. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 1.1% to 14,934, as of 8:10 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: FX Reserves USD on 19th, March,2021
  • USD: Initial Jobless Claims on 18th, March,2021

Fund View:

Motilal Oswal On SBI Cards Upgrade to buy from neutral Price target of Rs 1,200 Lower penetration augurs well for long-term structural story Business growth recovering well and return ratios are robust Growth momentum to accelerate; offers a unique play on rising retail mix Strong core profitability to absorb credit costs Upgrade to buy post recent correction.

Emkay On Telecom Subscriber Data For the second straight month, Bharti Airtel’s VLR subscriber data exceeded its total additions Sustained momentum to improve both revenue mix and ARPU for Airtel even without a tariff hike Jio losing 3.4 million VLR subscribers a negative surprise but wired broadband sees healthy traction Consistency in Vodafone Idea’s subscriber addition is to be seen as the January numbers were aided by one circle.
Emkay On Oil & Gas India’s oil demand is back to normal with sales of petrol and diesel by PSUs rose by 5.3% and 7.4% year-on-year in the first fortnight of March Sales growth in the second half of March 2021 will be much higher due to the base effect of the nationwide lockdown last year Estimate demand for Indian Oil products to decline 10% in FY21, though FY22 can see higher growth due to elections Indian Oil loses market share in the last one year while BPCL and HPCL see gains BPCL maintains lead in retail outlet petrol throughput Retain buy rating on OMCs.

News Update:

Punjab National Bank: Has incorporated a new credit cards subsidiary called PNB Cards & Services Ltd. The subsidiary will provide non-financial support services for PNB’s credit card business. PNB Cards & Services to be set up with an authorised capital of Rs 25 crore and paid up capital of Rs 15 crore.

TVS Motor Company: Board to meet on March 24 to consider and declare second interim dividend, if any for FY21. The record date for the same will be April 2.

BHEL: Has emerged as the lowest bidder for projects worth Rs 10,800 crore for supply of equipment for 6×700 megawatt nuclear power projects of Nuclear Power Corporation of India.
IRCTC: 136 contracts, taken over from the railways as per the Catering Policy of 2017 and five long term contracts, that were kept in abeyance, have been terminated. This is in regards to the Madras High Court order to terminate all existing contracts of mobile catering. These contracts were for the regular trains, which are not in operation as on dateTelcos: Cash-strapped Vodafone Idea Ltd (VIL) added 1.7 customers in January, the first time in 14 months, according to Telecom Regulatory Authority of India (Trai) data. Bharti Airtel Ltd added 5.9 million users, while Reliance Jio added 1.9 million customers.

Vedanta Ltd: After a failed delisting attempt last year, London-based parent Vedanta Resources Ltd (VRL) has upped its offer price to increase its stake in Vedanta Ltd by buying a 17.51% stake in it at ₹235 per share.

Steel companies: Large steel firms are expected to reduce debt by about 15%, or ₹35,000 crore, between FY21 and FY22, using the higher operating profits generated for prepayment, a report by credit ratings agency Crisil said. That, and a partial deferral of capital expenditure this fiscal will strengthen the balance sheets and credit metrics of five primary steel producers.

Future Retail Ltd: Future Group, which is locked in a legal battle with Amazon.com Inc., has asked a Singapore arbitration court to remove Future Retail Ltd (FRL) from the scope of its order that temporarily blocked the Kishore Biyani-led group from selling its assets to billionaire Mukesh Ambani.

Satin Creditcare: Promoters have reduced their pledged shares to 3.09% from 8.9% in July 2020. The promoters hold 2.75 crore shares of the company of which, 8.5 lakh remain pledged.

Source: MoneyControl, Business Standard, Bloomberg,Investing

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