International Markets:
U.S & Europe
| Particulars | 17th Jan | Chg | Chg(%) |
| Nasdaq | 9388.94 | 31.81 | 0.34 |
| Dow* | 29348.10 | 50.46 | 0.17 |
| FTSE | 7674.56 | 64.75 | 0.85 |
| CAC | 6100.72 | 61.69 | 1.02 |
| DAX | 13526.13 | 96.70 | 0.72 |
| Dow Fut.* | 29297.00 | 18.00 | 0.06 |
*As per 20th Jan
Asian markets:
| Particulars | 20th Jan. | Chg | Chg(%) |
| SGX Nifty* | 12398.50 | 16.00 | 0.13 |
| Nikkei | 24101.29 | 60.03 | 0.25 |
| Straits Times | 3275.46 | -5.57 | -0.17 |
| Hang Seng | 29039.80 | -16.62 | -0.06 |
| Shanghai | 3082.05 | 6.55 | 0.21 |
ADR Watch:
| Particulars | 17th Jan. | Chg | Chg(%) |
| Dr Reddy | 42.45 | 1.19 | 2.88 |
| HDFC Bank | 61.74 | 0.10 | 0.16 |
| ICICI Bank | 14.86 | -0.11 | -0.73 |
| Infosys | 10.88 | 0.03 | 0.28 |
| Tata Motor | 13.85 | 0.03 | 0.22 |
| Wipro | 3.83 | 0.03 | 0.79 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 71.0863 | 0.21 |
| Brent | 65.59 | 1.14 |
| Gold | 1557.55 | -0.18 |
| Silver | 18.017 | -0.31 |
FIIs & DIIs
| Particulars | 17th Jan. | 16th Jan. |
| FIIs | 264.26 | -395.24 |
| DIIs | -500.17 | -184.65 |
View on market: Buy on dips
Stocks in Asia saw a modest rise at the open today, building on seven straight weeks of gains. Stocks in Japan, South Korea and Australia edged higher. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.12 pecent to 12,397 as of 8:00 a.m.
Key Data/ Action,Result and Board meeting to watch:
Kotak Mahindra Bank, Federal Bank, Apollo Tricoat Tubes, Bank of Maharashtra, Can Fin Homes, Deccan Gold Mines, HFCL, Hindustan Zinc, ICICI Securities, Just Dial, KEI Industries, Monnet Ispat & Energy.
Fund View:
Nestle India BofAML Downgraded to ‘Neutral’ from ‘Buy’; hiked price target to Rs 16,500 from Rs 14,700. Valuations leave minimal room for error. Strong volume trajectory to continue led by new products. Rising agri-commodity prices may cap margin gains.
Jubilant FoodWorks UBS Upgraded to ‘Buy’ from ‘Neutral’; hiked price target to Rs 2,100 from Rs 1,600. Poised to benefit most from growth in quick-service restaurants. Competition waning in the downturn. Poised to deliver market-leading growth versus peers, despite a slowdown in consumption.
United Breweries UBS Maintained ‘Sell’ with a price target of Rs 1,300. Potential price increases in large states should allay margin concerns. Benefitting from improving consumer preference for beer. Regulatory hurdles likely to keep stock range-bound in the near term.
HDFC Bank Investec Maintained ‘Buy’ with a price target of Rs 1,400. Beat on P&L, strong core performance. Adjusted for one-offs, core operating profit growth was higher than expected. Bank has utilized all of the one-off gains to make additional provisions on the corporate accounts.
News Update:
Reliance Industries-Saudi Aramco deal not expected to be closed by March 31.
Indostar Capital Finance: Everstone Capital is exploring options including a partial stake sale as it looks to fund expansion. Everstone Capital holds a 60 percent stake in the company. The options include bringing in a strategic partner or selling shares to investors through the via qualified institutional placement and to raise funds before the end of this year.
Quick Heal Technologies: Tribunal has set aside service tax demand for Rs 56.1 crore.
Mahindra & Mahindra’s arm has signed an agreement to acquire a 100 percent stake in Fifth Gear Ventures for Rs 30.45 crore. The company is in the business of operating an e-commerce platform.
Ruchi Soya Industries: Board has approved long term agreement with Patanjali Ayurved for utilisation of production capacities of the company and to issue 1.86 crore shares to Ashav Advisory on a private placement basis at Rs 7 per share.
Indian Oil has signed an agreement with Cummins Technologies for bulk dispensing of the company’s diesel exhaust fluid in their advanced engines with selective catalytic reduction systems.
Power Finance Corporation raised $750 million through overseas bonds.
Power Grid Corporation’s arm has commissioned its Tamil Nadu unit.
Lupin says U.S. FDA has completed inspection of its’s Vizag API facility with five 483 observations.
Chalet Hotels signed a share purchase agreement for the purchase of Belaire Hotels Private Ltd., owner of Novotel Pune Nagar Road Hotel and its affiliated entity Seapearl Hotels Private Ltd. For aggregate enterprise value of about Rs.290 crore.
RBL Bank said rating agency ICRA has reaffirmed rating for Basel Ill Compliant Tier II Bond Programme at AA- (stable). The ratings for medium-term fixed deposits has been reaffirmed at MAA (stable). The short-term rating for the certificate of deposit Programme and Short Term Fixed Deposit Programme has been reaffirmed at A1+.
Godawari Power says Chhattisgarh Environment Conservation Board has granted its consent to the Company, to operate the Rolling Mill with a capacity of 4,00,000 tonnes per annum and iron ore beneficiation plant with capacity of 10,00,000 tonne per annum. The company expects to start commercial operations in these facilities during the current quarter.
Reliance Capital says Axis Trustee Services Ltd has invoked 2.18 percent stake pledged with it, balance stake left with Axis Trustee is 16.51 percent.
Reliance Home Finance says Axis Trustee Services Ltd has invoked 2.37 percent stake pledged with it, balance stake left with Axis Trustee is 7.57 percent.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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