International

Markets:U.S & Europe

Particulars     19th  Feb. Chg Chg(%)
Nasdaq 13,874.46 9.1 0.07
Dow 31,494.32 0.98 0.03
FTSE 6,624.02 6.87 0.1
CAC 5,773.55 45.22 0.79
DAX 13,993.23 106.3 0.77
Dow Fut.* 31,479.00 45 0.14

*As per 22nd February

Asian markets:

Particulars       22nd Feb Chg Chg(%)
SGX Nifty 14,975.00 -19.5 -0.13
Nikkei 30,250.83 232.91 0.78
Straits Times 2,881.85 1.21 0.04
Hang Seng 30,753.36 108.63 0.35
Shanghai     3,703.40 7.23 0.2

 

ADR Watch:

Particulars                  19th Feb. Chg Chg(%)
Dr Reddy 63.25 0.53 0.85
HDFC Bank 82.71 1.26 1.55
ICICI Bank 17.39 -0.19 -1.08
Infosys 17.94 0.11 0.62
Tata Motor 21.43 -0.44 -2.01
Wipro 6.56 -0.02 -0.3

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.56         0.00
Brent 62.77          1.01
Gold 1782.95          0.30
Silver 27.58          1.20

 

FIIs & DIIs

Particulars 19th Feb       18th  Feb
FIIs      119         903
DIIs    -1175       -1217

 

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

Asian equities have opened higher to start the new week on a positive note. The bond selloff however, continued as treasury yields rose and sovereign debt fell in Australia and New Zealand. Benchmark indices in Japan outperformed while those in South Korea also advanced. Oil prices rose, Bitcoin trades lower this morning after notching another record over the weekend while Copper rose to the highest since September 2011. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down -0.13% to 14,975.00 as of 8:10 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Infrastructure Output (YoY) (Jan) on 26th February,2021
  • INR: GDP Quarterly (YoY) (Q3), on 26th February,2021

Fund View:

Motilal Oswal On Ambuja Cements Maintains Neutral rating Price target raised to Rs 275 from Rs 250 Remain neutral due to weak growth visibility beyond CY22 MSA with ACC has resulted in cost savings of Rs 250 crore and boosted PBT by 5% in CY20 Capacity expansion to improve near-term volumes Offer 10% holding company discount for its stake in ACC.

Emkay On Bharat Forge

Maintains buy rating Price target of Rs 760 CY21 demand outlook provided by 21 entities provides a positive read-through for Bharat Forge HCV segment is likely to rebound strongly in CY21 across regions Global and domestic PV segments are likely to witness a strong rebound driven by better macros and low channel inventory Expect revenue to grow 46% in FY22E driven by  a strong rebound in automotive and industrial segments Significant potential for segments like defence, aerospace, E-mobility and railways in the medium-term.

Emkay On Jubilant Foodworks Maintains buy rating Price target of Rs 2,750 New acquisition looks inexpensive but the risks remain Acquisition gives Jubilant access to Domino’s franchise in new markets at attractive valuations, adverse currency movements and high interest rates in Turkey remain a risk An elongated expected turnaround can result in earnings dilution for Jubilant Do not expect any meaningful upside / downside to forecasts given the size of the acquisition

News Update:

Adani Ports & SEZ: Incorporates wholly-owned subsidiary Aqua Desilting Pvt. Ltd. to carry out business of dredging, desiltation and sale / disposal of such desilted material from sea, river, dams and other water bodies.

Torrent Power: Emerges highest bidder for 51% privatisation of Power Distribution Company in Dadra & Nagar Haveli and Daman & Diu. With the addition of Dadra & Nagar Haveli (including Silvasa) and Daman & Diu, Torrent will distribute nearly 25 billion units to over 3.8 million customers and cater to a peak demand of over 5,000 MW.

PNB Housing Finance: Promoter PNB says that it will not participate in the company’s capital raising plans. The company will continue to pursue the proposed capital raising plans through permitted modes. The company had approved raising an amount of Rs 1,800 crore as tier-1 capital through QIP, preferential issue, rights issue or any other combination thereof on January 27, 2021.

NTPC: 5 MW, last part capacity for the 20 MW Auraiya Solar PV Project in Uttar Pradesh has been declared on Commercial Operation on February 20, 2021. The total installed capacity of NTPC and NTPC group now stands at 52,115 MW and 64,880 MW respectively.

Suven Life Sciences: Board of Directors approved issuance of 1.81 crore fully convertible warrants on a preferential basis to the promoter / promoter group. The price at which the warrants will be issued shall be determined later.

Tata Consumer Products: Has successfully completed the acquisition of 100% shares in Kottaram Agro Foods. Consequently, Kottaram Agro Foods has now become a wholly-owned subsidiary of the company.

Jubilant Foodworks: A wholly owned subsidiary of the company, Jubilant Foodworks Netherlands B.V., has entered into a purchase agreement with Turkish Private Equity Fund II L.P. to fully acquire Fides Food Systems Coöperatief U.A. which holds 32.81% equity shares in DP Eurasia N.V. The cost of acquisition is approximately 24.80 million pounds. The company has also executed the Purchase Agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.

Source: MoneyControl, Business Standard, Bloomberg,Investing

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