International Markets:

U.S & Europe

Particulars 19th March Chg Chg(%)
Nasdaq 7150.58 160.74 2.30
Dow 20087.19 188.27 0.95
FTSE 5151.61 71.03 1.40
CAC 3855.50 100.66 2.68
DAX 8610.43 168.72 2.00
Dow Fut.* 19674.50 -200.50 -1.01

*As per 20th March

Asian markets:

Particulars 20th  March Chg Chg(%)
SGX Nifty* 8265.50 90.00 1.10
Nikkei 16552.83 -173.72 -1.04
Straits Times 2345.27 34.27 1.48
Hang Seng 22624.35 915.22 4.22
Shanghai 2730.33 28.20 1.04

ADR Watch:

Particulars 19th March Chg Chg(%)
Dr Reddy 35.48 0.73 2.10
HDFC Bank 36.34 -4.88 -11.84
ICICI Bank 8.01 -1.13 -12.36
Infosys 7.13 -0.22 -2.99
Tata Motor 4.78 -0.13 -2.65
Wipro 2.57 -0.06 -2.28

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.9875 1.02
Brent 28.63 0.56
Gold 1488.85 0.61
Silver 12.467 2.89


Particulars 19th  March 18th  March
FIIs -4622.93 -5085.35
DIIs -5085.35 3636.44


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

U.S. stock futures declined in early trade across Asia while the Dollar continued to gain, showing that the recent dash for cash is showing little signs of easing. Markets in Australia and South Korea are trading with gains while futures in Hong Kong point to a positive open. Japanese markets are shut today on account of a holiday. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.7 percent to 8,125 as of 8:00 a.m.

Key Data/ Action, Result and Board meeting to watch:


Fund View:


Ashok Leyland Edelweiss Buy rating maintained Price target cut to Rs 75 from Rs 92 Street would have preferred a more conservative approach in Hinduja Leyland Finance stake buy. Timing, quantum and valuation of deal will pressure cash flows and valuations in a weak demand environment.

CESC Emkay Upgrade to buy from hold Price target cut to Rs 698 from Rs 846 Management aims for breakeven in Malegaon circle by FY23. Cut price target to factor in weak market sentiment due to Covid-19 concerns.

Accenture’s Quarter Ending February Emkay Results were better than consensus Order booking picks up from modest weakness seen in Q1 Guidance cut confirms fears of possible negative impact on demand for Indian I.T. in Q1FY21 at the least.

News Update:


Indiabulls Housing Finance: Company clarifies that it has no loan outstanding from Yes Bank. Rana Kapoor and family had mortgaged a property to the company in November 2017 for a loan of Rs 285 crore. Additionally, the company had also taken a personal guarantee of Rana Kapoor and family, whose net worth at the time of taking the loan was over Rs 7,000 crore as per their holding in Yes Bank.

Tata Motors: Jaguar Land Rover to temporarily suspend production in U.K. Operations at plants in Brazil and India will continue.

Hero Moto: Commences commercial operations of its new manufacturing facility in Chittoor. The facility is its eighth manufacturing plant and the sixth in India. The company has also filed an application with the Supreme Court seeking relaxation of the March 31 deadline for the sale or registration of BS-IV vehicles.

Bandhan Bank: The lender in a conference call said that it will stop disbursements and collections in a worst-case scenario of a complete lockdown for 15-20 days. It also said that there have been some withdrawals in deposits from government entities which amounts to less than 1 percent of the total deposit base.

SBI: Board to consider extension of approval for raising equity capital up to Rs 20,000 crore till March 2021 on March 27.

Sobha: Board approved the issue of debentures up to Rs 270 crore by way of a private placement.
CreditAccess Grameen has completed the acquisition of 75.64 percent stake in Madura Micro Finance.
Praj Industries to consider share buyback on March 27.

RITES: Board has decided to close its joint venture agreement with BNV Gujarat Rail.

ICICI Lombard Insurance has launched a dedicated insurance cover for coronavirus, in group insurance mode. The health cover is priced at a premium of Rs 149 and provides a sum insured of Rs 25,000 for ages 18-75. The company will pay the entire sum insured, in a lump sum in the event of the first diagnosis of COVID-19 during the policy period.

Reliance ADAG Group: Anil Ambani clarifies on the group’s exposure to Yes Bank to ED officials. The group’s entire exposure to Yes Bank is fully secured and transacted in the ordinary course of business, according to their press statement. The statement also clarifies that the group has no direct or indirect exposure to Rana Kapoor or his family or to any entity controlled by them.

IndInfravit Trust has completed 100 percent acquisition in eight operational road projects of Sadbhav Infra, which has an enterprise value of Rs 6,300 crore. The acquisition of one additional road project is subject to regulatory approvals.

Jindal Stainless clarified that there is no loan raised against promoter’s pledged shares and the current erosion in its share price has not triggered any margin requirements or calls by lenders.



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