International Markets:

U.S & Europe

Particulars 24th  Dec Chg Chg(%)
Nasdaq 8952.88 7.23 0.08
Dow* 28515.45 60.36 0.21
FTSE 7632.24 8.65 0.11
CAC 6029.55 0.18 0.00
DAX 13300.98 -17.92 -0.13
Dow Fut.* 28535.50 27.50 0.10

*As per 26th Dec

Asian markets:

Particulars 26th   Dec. Chg Chg(%)
SGX Nifty* 12235.00 104.64 0.44
Nikkei 23887.51 104.64 0.44
Straits Times 3212.19 -9.48 -0.29
Hang Seng 27864.21 -42.20 -0.15
Shanghai 2990.12 8.24 0.28

 

ADR Watch:  

Particulars 24th  Dec. Chg Chg(%)
Dr Reddy 41.05 0.00 0.00
HDFC Bank 63.78 0.00 0.00
ICICI Bank 15.12 0.00 0.00
Infosys 10.24 0.00 0.00
Tata Motor 12.32 0.00 0.00
Wipro 3.82 0.00 0.00

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.2712 0.11
Brent 67.37 0.25
Gold 1507.85 0.20
Silver 17.983 0.73

 

FIIs & DIIs

Particulars 23th  Dec. 20th  Dec.
FIIs -114.38 1463.28
DIIs -345.22 -1947.36

 

View on market: Buy on dips

Asian stocks opened another quiet year-end session on today, sitting on an advance of almost 9 percent for the quarter thanks to ebbing concerns about U.S.-China trade tensions and expectations of a global economic pickup in 2020. Shares opened higher in Tokyo and flat in Seoul. U.S. futures were little changed. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, traded little changed at 12,237.50 as of 7:50 a.m.

Key Data/ Action and Board meeting to watch:

Narayana Hrudayalaya to meet Centrum Capital on Dec. 26.

Fund View:

Oil Marketing Companies

Equirus

IOCL: Initiated ‘Long’ with a price target at Rs 176. BPCL: Initiated ‘Add’ with a price target at Rs 522. HPCL: Initiated ‘Reduce’ with a price target at Rs 273. IMO 2020 and lower than expected capacity add beyond 2021 to benefit GRM. See steady demand from India, no major market share losses and stable marketing margins for OMCs. Prefer IOCL and BPCL given higher GRM expansion, stronger earnings growth and better dividend yields. HPCL is the least preferred due significantly higher capex and rising net debt/Ebitda.

Bharti Infratel Edelweiss Maintain ‘Hold’ with a price target at Rs 293. Believe Bharti Infratel could call off the merger. Perceive this as negative for Bharti Airtel as well as Vodafone Idea. Weak tenancy additions on one hand and merger risks on the other, stance remains cautious.

News Update:

Bharti Infratel has deferred its proposed merger with Indus Towers till February 2020. The merger, was deferred after the two companies failled to secure all the necessary approvals from the government. The deal is key for India’s struggling operators’ which are looking to unlock value.

Bharti Airtel’s African arm has announced the price for its listing on the Malawi Stock Exchange. The telecom operator will divest 20 percent stake at $0.02 per share aggregating to $37.5 million, to meet relevant norms.

SBI Life Insurance: IRDAI said that transaction executed by Cardiff to transfer 5.07 crore shares or 5.069 percent equity on March 29 is in violation of IRDAI rules regarding transfer regulations and listed insurance companies. Cardiff had carried out the sale of shares without taking approval from IRDAI.

GAIL has clarified that it is not in the process of hiving off its pipeline business into a separate unit. The gas distributor added that it has also not received any directive to do the same.

United Breweries has said its not aware of any event that hint at the possibility of Heineken raising stake in the company.

Yes Bank: Brickwork Ratings has downgraded the Bank’s Lower Tier II Bonds rating, from ‘BWR AA-’ to ‘BWR A’, and of Upper Tier II Bonds, Hybrid Tier I Bonds and Innovative Perpetual Debt Instruments from ‘BWR A+’ to ‘BWR A-’. The Outlook continues to remain Negative, considering the risk of continuing weakness in asset quality and to monitor the capital raising plans of the bank to provide cushion to absorb any increase in risk-weighted assets and assist credit growth.

HCL Technologies has announced the opening of Global Delivery Center in Canada.

Sintex Industries: Invesco Asset Management has filed a petition before NCLT Ahmedabad under insolvency proceedings for Rs 15 crore. The case is yet to be admitted to NCLT.

GMR Infra said that promoters have 63.6 percent stake in the company, 72.3 percent of which are encumbered.

Reliance Industries: The National Company Law Appellate Tribunal has dismissed the Income Tax Department’s petition objecting to Reliance Jio Infocomm’s proposed demerger scheme to hive off its fiber and tower business into two separate units.

NTPC is planning to add 10 gigawatt of solar energy generation capacity by 2022, which entails an investment of around Rs 50,000 crore, to be funded mainly by green bonds, a source has said.

HDFC will raise up to Rs 2,500 crore by issuing bonds on a private placement basis. The secured redeemable non-convertible debentures are to be allotted on a private placement basis on Friday for an issue size of Rs 2,500 crore, HDFC Ltd. said in a regulatory filing on Tuesday.

 


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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