International Markets:

U.S & Europe

Particulars 23th  Dec Chg Chg(%)
Nasdaq 8945.65 20.69 0.23
Dow* 28551.53 96.44 0.34
FTSE 7623.59 41.11 0.54
CAC 6029.37 7.84 0.13
DAX 13300.98 -17.92 -0.13
Dow Fut.* 28554.50 4.50 0.02

*As per 24th Dec

Asian markets:

Particulars 24th   Dec. Chg Chg(%)
SGX Nifty* 12263.50 -15.50 -0.13
Nikkei 23811.28 -9.83 -0.04
Straits Times 3215.09 1.09 0.03
Hang Seng 27808.01 -98.40 -0.35
Shanghai 2965.27 2.52 0.09


ADR Watch:  

Particulars 23th  Dec. Chg Chg(%)
Dr Reddy 40.79 0.15 0.37
HDFC Bank 63.77 -0.63 -0.98
ICICI Bank 15.07 -0.18 -1.18
Infosys 10.29 0.00 0.00
Tata Motor 12.49 0.00 0.00
Wipro 3.83 -0.03 -0.78


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.1937 0.10
Brent 64.40 0.02
Gold 1492.05 0.23
Silver 17.593 0.54



Particulars 23th  Dec. 20th  Dec.
FIIs 1463.28 338.86
DIIs -1947.36 -285.41


View on market: Buy on dips

Asian stocks began a Christmas Eve session in muted fashion on today, with trading diminishing at the end of a year that took a global benchmark to successive record highs. After a becalmed Monday on Wall Street, Japanese and Australian equities were little changed. U.S. futures were also flat after the S&P 500 closed higher for the eighth time in nine sessions. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded at 12,263.50 as of 7:50 a.m.

Key Data/ Action and Board meeting to watch:

Sudarshan Chemical to meet Edelweiss Broking on Dec. 24.

Mahindra Holidays & Resorts to meet Whitestone Financial Advisors and Old Bridge Capital from Dec. 24-31.

Fund View:

JSPL Morgan Stanley Maintained ‘Overweight’ with a price target of Rs 174. Believe any restructuring of the international debt will be positive. JSPL’s standalone leverage was 2.9x, while consolidated stood at 4.8 times. Any restructuring of this debt that could improve the cash flow situation.

Cera Sanitaryware BOBCAPS Maintained ‘Buy’ with a price target of Rs 3,040. Near-term demand outlook remains challenging. Demand continues to stagnate with no pickup seen over the past two months. Not facing cost pressures but an adverse product mix could be a drain on 2019-20 margins. Company does not intend to chase growth at the expense of working capital discipline.

India General Insurance SBICAP Premium growth remains steady in Nov’19. Nov’19 GDPI growth remains steady at 16.4 percent YoY supported by Group Health and Crop segments. Motor OD growth fizzles out likely due to weak new auto sales and intense pricing pressure. Bajaj Finance and ICICI General remain arguably among the best franchises but stretched valuations leave little room for upside.

News Update:

Reliance Industries: The Delhi High Court has sought details of Reliance Industries Ltd.’s assets after the government petitioned to stop a proposed sale of a minority stake in the company’s oil and chemical business to Saudi Arabian Oil Co., Bloomberg reported quoting people familiar with the matter. “The court has also directed Reliance’s partner, Royal Dutch Shell Plc’s Indian unit—BG Exploration & Production India—to submit details of assets, the people said, asking not to be identified as the documents aren’t public. The Indian government is fighting arbitration cases over profit sharing and royalty payments with Reliance and its partners,” the report added.

Hindalco: Muri Refinery in Jharkhand restarted production of Alumina. The company said it may not need to import Alumina. On April 10, the operations of the plant were suspended due to spillage in red mud cake storage area.

IRCTC signed a memorandum of understanding with Hotel and Restaurant Association of Northern India for listing the association’s member hotels and their room rate inventory for sales on the IRCTC portal. The company has also revised tariff of standard meals on static units over Indian Railways.

Tata Motors received National Company Law Tribunal Hyderabad’s nod for transferring of the Defense Undertaking to its arm Tata Advanced Systems.

Corporation Bank: Crisil has revised the credit ratings for bonds worth Rs 850 crore from Negative to Rating Watch with Positive Implications.

Pidilite Industries’ arm to invest Rs 49 crore in Homevista Décor and Furnishings.

Great Eastern Shipping has delivered its Suezmax Crude Carrier to its buyers. The vessel was contracted for sale in Nov. 19.

Minda Industries: Board approved entering into Wheel Speed Sensor Business in India and South Korea by purchasing certain machinery and technical know-how from Sensata Technology Group for Rs 45.21 crore.

ITC: John Pulinthanam has resigned from Board of Director. He represented General Insurers’ (Public Sector) Association of India.

Jet Airways to issue fresh invitation of expression of interest for the corporate debtor.

Vodafone Idea, Bharti Infratel: Long stop date for merger completion of Indus Towers with Bharti Infratel ends today. The merger completion is yet to be announced and is yet to receive government’s approval pertaining to FDI enhancement. The long stop date of the merger was extended by 60 days to Dec. 24 from Oct. 24

NIIT Tech approved buyback of 19.6 lakh shares at Rs 1,725 per share aggregating to Rs 337.5 crore The company will buyback 3.1 percent of the equity using 20.23 percent of the net worth. Promoters will be participating in the buyback.


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