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

Asian equities have opened lower on the final trading day of the week, as U.S. stocks fell overnight, oil prices fell too and treasury yields continued to rise. Benchmark indices opened lower in Japan, South Korea and Australia. The 10-year treasury yields rose to 1.75% – the first time since January 2020. Oil prices fell 7% overnight due to concerns that new coronavirus-related curbs in Europe will sap demand. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.6% to 14,507, 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

International

Markets:U.S & Europe

Particulars    18th  Mar. Chg Chg(%)
Nasdaq 13,116.17 -409.03 -3.02
Dow 32,862.30 -153.07 -0.46
FTSE 6,779.68 17.01 0.25
CAC 6,062.79 7.97 0.13
DAX 14,775.52 178.91 1.23
Dow Fut.*     32,825.00 58 0.18

 

Asian markets:

Particulars       19th Mar. Chg Chg(%)
SGX Nifty 14,495.00 -100.5 -0.69
Nikkei 29,954.80 -261.95 -0.87
Straits Times 3,141.21 3.55 0.11
Hang Seng 29,022.05 -383.67 -1.3
Shanghai 3,426.65   -36.42 -1.05

 

ADR Watch:

Particulars                 18th Mar.  Chg Chg(%)
Dr Reddy 57.98 -1.76 -2.95
HDFC Bank 77.8 -1.9 -2.38
ICICI Bank 15.88 -0.53 -3.23
Infosys 18.38 -0.72 -3.77
Tata Motor 20.71 -0.62 -2.91
Wipro 6.29 -0.2 -3.08

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.67          -0.02
Brent 63.24          -0.06
Gold 1729.60          -0.16
Silver       26.02          -1.26

 

FIIs & DIIs

Particulars 18th Mar       18th  Mar
FIIs     1258         2626
DIIs    -1116        -562

 

News Update:

Reliance Industries:

The Delhi High Court has upheld the Emergency Arbitrator’s award that Amazon.com Inc had won against Future Retail. A single judge bench has imposed a Rs 20 lakh penalty on Future Group entities. The court has issued notice to Kishore Biyani and others and have asked them to be present in the court for the next date of hearing on April 28.

I.T. Stocks:

Accenture’s second quarter revenue beats estimates due to double-digit growth in its outsourcing business. The company has also revised its revenue growth guidance higher to 6.5-8.5% from 4-6% earlier.

GAIL (India):

Has signed a concession agreement with Ranchi Municipal Corporation for setting up Compressed Biogas Plant in Ranchi. As per the agreement, the company will setup CBG plant for processing 150 tons per day of Organic Municipal Solid Waste.

GOCL Corporation:

Board has approved fund raising of up to Rs 250 crore by way of private placement of Unsecured NCDs to be issued in one or more tranches.
Shriram Transport Finance: Board to meet on March 25 to consider second interim dividend for FY21. The record date for the same, if declared will be March 31.

Indo Count Industries:

Board has approved expansion and modernisation projects of existing capacities with capex of Rs 200 crore. The board has approved expansion of bed linen capacity by 20% from its existing annual capacity of 90 Million meters to 108 Million meters. Further, the company has proposed to make a brownfield investment of Rs 150 crore for adding commensurate cut & sew facilities and for enhancing the capacity for Top of the Bed products. The existing spinning unit will also be modernised with compact spinning technology at the cost of Rs 50 crore. The capex plan will be funded through a mixture of debt and internal accruals.

Vaibhav Global:

The Shop TJC, U.K., a step-down subsidiary of the company has acquired Shop LC GmbH, Germany (a 100% subsidiary of the company) for €25,000.

Zensar Technologies:

The board has approved merger of company’s U.S.-based step-down subsidiaries–Keystone Logic, Professional Access, Cynosure and Indigo Slate with Zensar Technologies Inc., USA – a material, wholly-owned subsidiary of the company.

Automobile stocks:

Commercial vehicles older than 15 years and passenger vehicles more than 20 years old will have to be scrapped if they fail to pass fitness and emission tests, according to the country’s first-ever vehicle scrappage programme unveiled on Thursday. The Centre will help set up vehicle ‘fitness centres’ across India to test old vehicles as well as scrap yards.

Bharti Airtel:

Has said that TPG-owned The Rise Fund will invest $200 million in Airtel Mobile Commerce (AMC) BV, the mobile money business of Airtel’s Africa unit. The transaction is part of Airtel’s strategic asset monetization plan.

Vodafone Idea: The

telco’s net addition of wireless users in January, the first time in 14 months, could be a one-time gain and may not sustain. The turnaround in January was due to a new reporting method adopted by the debt-laden operator. VIL, the third-largest telco by market share, added 1.7 million users in January, after losing a total of 55.4 million users since October 2019.

Insurance stocks:

The Rajya Sabha on Thursday approved a bill to raise the limit of foreign direct investment in the insurance sector to 74% from 49%, with finance minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

Adani Green Energy: Has raised $1.35 billion in debt funding from a dozen international lenders for its under-construction renewable asset portfolio. The revolving project finance facility would be used to initially fund the 1.69 GW hybrid portfolio of solar and wind renewable projects to be built through four special purpose vehicles in Rajasthan.

 Source: MoneyControl, Business Standard, Bloomberg,Investing

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