International Markets:

U.S & Europe

Particulars 24th Feb Chg Chg(%)
Nasdaq 9221.28 -355.31 -3.71
Dow 27960.80 -1031.61    3.56
FTSE 7156.83 -247.09 -3.34
CAC 5791.87 -237.85 -3.94
DAX 13035.24 -544.09 -4.01
Dow Fut.* 28204.00 236.00 0.84

*As per 25th feb

Asian markets:

Particulars 25th Feb. Chg Chg(%)
SGX Nifty* 11879.00 58.00 0.49
Nikkei 22685.92 -700.82 -3.00
Straits Times 3169.30 27.10 0.86
Hang Seng 26811.75 -9.13 -0.03
Shanghai 2993.60 -37.63 -1.24


ADR Watch:

Particulars 24th  Feb Chg Chg(%)
Dr Reddy 43.61 -1.19 -2.66
HDFC Bank 56.59 -0.93 -1.62
ICICI Bank 14.40 -0.65 -4.32
Infosys 11.22 -0.19 -1.67
Tata Motor 10.33 -0.55 -5.06
Wipro 3.71 -0.10 -2.62


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.0038 0.48
Brent 56.58 0.50
Gold 1658.35 -1.09
Silver 18.582      -1.56



Particulars 24th  Feb. 20th  Feb.
FIIs -1160.90 1495.25
DIIs 516.21 -699.62


View on market: Buy on dips


A sell-off that wiped out global stock gains for the year continued in Asia Tuesday amid concerns authorities around the world are struggling to keep the coronavirus from spreading. Japan opened lower after a holiday, while Australia and South Korea also fell. Futures in Hong Kong pointed to a weaker start. U.S. futures edged higher. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, swung from a fall of 1.8 percent and rose 0.5 percent to 11,879.00 as of 8:00 a.m.


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

Here’s a quick look at all that could influence equities today

U.S. equities tumbled, with the S&P 500 dropping the most since February 2018, as authorities struggled to keep the coronavirus from spreading more widely outside China. All three main U.S. stock benchmarks slumped more than 3 percent. The Dow Jones Industrial Average and


S&P erased all of their gains for the year. All 11 sectors of the S&P closed in the red.

The Stoxx Europe 600 Index slid 3.8 percent on trading volumes well above average for the largest drop since 2016 as investors fled travel and luxury-goods shares. A gauge of credit risk on the region’s high-yield companies jumped. The yield on 10-year Treasuries approached the 2016 record low.
The yield on 10-year Treasuries approached the 2016 record low.


Oil tumbled by the most in almost seven weeks as the worsening coronavirus outbreak fueled concerns that the global economy will falter.


Fund View:

Coal India UBS Maintained ‘Buy’ with a price target of Rs 270. Volume recovery is here to stay. Normalization of supply disruptions at MCL and SECL is driving recovery. Coal consumption to remain robust in medium to long term. Coal India seems to be pricing in no terminal value after 2029-30.

SpiceJet HSBC Upgraded to ‘Buy’; cut price target to Rs 110.50 from 115. Challenging liquidity, inefficient cost structure and capacity concerns have kept the stock under pressure Stock trading at 2021 EV/EBITDAR of 4.4x, near trough in FY 16-17. Have cut earnings forecasts on softness in yields and cost pressure.

RIL UBS Maintained ‘Buy’; raised price target to Rs 1,840 from Rs 1,750. RIL’s efforts to delevrage largely remain unappreciated. With organic cash flows co can easily delevrage by March 2023. Co could delevrage by 2020-21 end with the conclusion of potential Saudi Aramco deal. Moving towards a leaner balance sheet through partnerships and stake sales.

Bharti Infratel CLSA Cut price target to Rs 200 from Rs 230. AGR relief pre- requisite for merger. A must for Vodafone Idea and imperative to the Indus-Infratel merger. Management has cited a potential review of Indus merger. Vodafone Idea insolvency would collapse tenancies. With AGR risk and a delay in Indus merger, retain our Sell rating.
Tech Mahindra Morgan Stanley Maintained ‘Overweight’ with a price target at Rs 865. Zen3 acquisition enhances TechM’s enterprise application practice and capabilities. Zen3 Infosolutions revenue saw a CAGR of 33 percent over 2016-19. The current revenue profile implies that the acquisition could add about 1 percent of revenue for Tech Mahindra.
News Update:

Tech Mahindra acquired 100 percent stake in Zen3 Infosolution—a U.S.-based company specialising in AI-based solutions.

JSW Steel Ltd was declared the preferred bidder for the Jajang Iron Ore block in Odisha.

Suzlon Energy to consider share issue in Feb. 27 meeting.

HDFC Bank said Managing Director Aditya Puri sold 12.5 lakh shares between Feb 11-12; Puri to sell more equity shares held by him.

TVS Motor said coronavirus outbreak impacted February production. The company could see a 10 percent drop in its planned February production.

Camlin Fine Sciences said its China joint venture’s manufacturing facility has resumed operations.



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