International Markets:

U.S & Europe

Particulars 25th Feb Chg Chg(%)
Nasdaq 8965.61 -255.67 -2.77
Dow 27081.36 -879.44 3.15
FTSE 7017.88 -138.95 -1.94
CAC 5679.68 -112.19 -1.94
DAX 12790.49 -244.75 -1.88
Dow Fut.* 27251.00 134.00 0.49

*As per 26th feb

Asian markets:

Particulars 26th Feb. Chg Chg(%)
SGX Nifty* 11720.00 -98.00 -0.83
Nikkei 22312.04 -293.37 -1.30
Straits Times 3130.34 -27.90 -0.88
Hang Seng 26659.75 -233.48 -0.87
Shanghai 2999.36 -13.69 -0.45

 

ADR Watch:

Particulars 25th  Feb Chg Chg(%)
Dr Reddy 42.67 -0.94 -2.16
HDFC Bank 55.72 -0.87 -1.54
ICICI Bank 14.42 0.02 0.14
Infosys 11.02 -0.20 -1.78
Tata Motor 10.06 -0.27 -2.61
Wipro 3.66 -0.05 -1.35

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.8850 -0.17
Brent 55.34 0.71
Gold 1642.95 -0.40
Silver 18.073        -0.65

 

FIIs & DIIs

Particulars 25th  Feb. 24th  Feb.
FIIs -2315.07 -1160.90
DIIs 1565.28 516.21

 

View on market: Buy on dips

 

U.S. equity futures rose and Treasuries steadied after a surge that took yields to record lows, while Asian shares opened lower after another rout on Wall Street. Futures on the S&P 500 Index edged up. In Asia, the origin for the disease, stock benchmarks saw lesser declines early Wednesday. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell -0.83 percent to 11,720 as of 8:05 a.m.

 

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

 

TRAI Data

  • Vodafone Idea lost 36,44,453 users in December
  • Bharti Airtel lost 11,050 users in December
  • Reliance Jio added 82,308 users in December

 

Fund View:

 

SBI Morgan Stanley Maintained ‘Equal-Weight’; raised price target to Rs 375 from Rs 330. FY20 EPS estimate raised by 18 percent on likely capital gains from SBI Cards. Subsidiaries continue to do very well. Asset quality outlook however remains uncertain. At 0.7x FY21 core book, stock is inexpensive, but re- rating amid uncertain macro will be difficult.

Consumer staple Goldman Sachs Page Industries Downgraded to ‘Sell’ from ‘Neutral’; cut price target to Rs 18,370 from Rs 20,492 Marico: Updated to ‘Neutral’ from ‘Sell’; raised price target to Rs 303 from Rs 286. ITC: Maintained ‘Buy’; cut price target to Rs 252 from Rs 312. Fourth quarter will likely be soft, recovery will likely be gradual in the next fiscal. See improvement in rural demand. See better liquidity for urban wholesale. Expect market share shift towards organized retail to continue.

Zee Entertainment Macquarie Maintained ‘Outperform’ with a price target at Rs 425. Hosted Zee management for an investor interaction. New board appointments should be finalized shortly. From 2020-21, Zee expects more than 50 percent conversion of PAT to cash from less than 20 percent in 2018-19. Ad environment remains bleak, Zee sees revival in 2020-21 Management hoping to improve market share in key genres. Zee sees low double digit growth in domestic subscription in 2020-21, if NTO 2.0 is delayed/not implemented. Eyeing short format digital content space.

Gujarat Gas  Motilal Oswal Maintained ‘Buy’ with a price target at Rs 340 Lower LNG prices to bode well for the company Volumes under contract from Shell to reduce from 2.2 to 2 mmscmd from 2020. Co ramping up capacity at Morbi to enable it to handle 8 mmscmd. NGT order may provide further volumes boost. Co expected to come up with 100 CNG stations in three years.

News Update:

 

Sanofi to pay a final dividend of Rs 106 per share and a special dividend of Rs 243 per share.

IRB Infra receives Letter of Acceptance from MSRDC for Mumbai-Pune Expressway and Old Mumbai Pune Highway Projects.

Bandhan Bank says RBI lifted the restriction on branch opening.

Wockhardt: India Ratings has placed Wockhardt’s rating on Rating Watch Evolving, indicating that the may be affirmed, downgraded or upgraded. The RWE follows Wockhardt’s divestment of a portion of its domestic branded business to Dr. Reddy’s Laboratories Ltd. for Rs 1,850 crore, said the credit rating agency. Also, CARE ratings has placed the company’s rating Under credit watch with positive implication.

Godawari Power & Ispat starts Rolling Mill and Iron Ore Beneficiation Plant. The Rolling Mill has a capacity of 4,00,000 tonnes per annum and Iron Ore Beneficiation Plant has 10,00,000 tons per annum. It has already received the Chhattisgarh Environment Conservation Board’s approval on Jan 18.

ICRA assigns “Stable” Outlook to ITD Cementation’s credit rating. It was previously placed under “rating watch with developing implications.”

ICICI Prudential Life Insurance sold 8.33 lakh shares of NRB Industrial Bearings on Feb 24. Total holding in the company shrinks from 5.59 percent to 2.15 percent.

 


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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