International Markets:

U.S & Europe

Particulars 26th  Dec Chg Chg(%)
Nasdaq 9006.14 53.26 0.59
Dow* 28621.39 105.94 0.37
FTSE 7632.24 8.65 0.11
CAC 6029.55 0.18 0.00
DAX 13300.98 -17.92 -0.13
Dow Fut.* 28669.00 50.00 0.17

*As per 27th Dec

Asian markets:

Particulars 27th   Dec. Chg Chg(%)
SGX Nifty* 12127.50 -106.00 -0.87
Nikkei 23924.92 142.05 0.60
Straits Times 3222.99 1.32 0.04
Hang Seng 27864.21 -42.20 -0.15
Shanghai 3007.35 25.47 0.85

 

ADR Watch:  

Particulars 26th  Dec. Chg Chg(%)
Dr Reddy 40.51 -0.54 -1.32
HDFC Bank 63.30 -0.48 -0.75
ICICI Bank 15.10 -0.02 -0.13
Infosys 10.17 -0.07 -0.68
Tata Motor 12.36 0.04 0.32
Wipro 3.80 -0.02 -0.52

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3163 0.06
Brent 68.06 0.21
Gold 1516.55 0.14
Silver 17.988 -0.01

 

FIIs & DIIs

Particulars 26th  Dec. 24th  Dec.
FIIs -504.13 -114.38
DIIs 120.46 -345.22

 

View on market: Buy on dips

 

Asian stocks opened mixed on today after technology shares propelled U.S. benchmarks to fresh record highs. Japan opened to modest gains, Australian shares were little changed and South Korean ones slid in early trading. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.87 percent to 12,127.50 as of 8:00 a.m.

 

Key Data/ Action and Board meeting to watch:

 

Eris Lifesciences to meet Antique Stock Broking on Dec. 27.

Torrent Power to meet Franklin Templeton Investment and Tata MF on Dec. 27.

Allcargo Logistics to meet Philip Capital and BoB Capital Markets from Dec. 27-30.

Mahindra Logistics to meet Templeton AMC on Dec. 30.

 

Fund View:

 

Dixon Tech Emkay Maintained ‘Buy’; hiked price target to Rs 4475 from Rs 3,605. Mgmt. remains upbeat on sustaining volume growth in consumer electronics. Washing machine sales growth to rebound in 2020-21 after slow FY20. Opportunity of exports in lighting business, which is expected begin from April 2020, can be significant. Believe automation and cost optimization will drive margins further.

UltraTech Cement Motilal Oswal Maintained ‘Buy’ with a price target of Rs 5,050. Demand has been weak; expect recovery from the fourth quarter of the current financial year. Prices lower in the South/East; the North/Central-India relatively better. Limited new capacity additions on the anvil.

Edelweiss on Banks Banks: Asset quality turning around; corporate banks better placed. NBFCs: Risk perception continues to dampen confidence. HFCs: Liquidity stress spilled over reflected in slower growth & softer profitability. Within product segments, we recommend caution on the real estate segment.

Edelweiss on Metals Domestic prices breach import parity level. Still see concerns emanating from potentially higher imports. Continue to prefer JSPL in the ferrous space owing to its reliance on longs. Maintained ‘Hold’ on Tata Steel & JSW Steel and ‘Reduce’ on SAIL.

 

News Update:

 

CARE Ratings, ICRA: The market regulator imposed a Rs 25 lakh-penalty for their failure to exercise skill, care and due diligence in rating the non-convertible debentures of Infrastructure Leasing & Financial Services Ltd. and its non-bank lending unit. “Brazen failure” of the credit rating agencies clearly defeated the objective of investor protection and orderly development of securities market, the Securities and Exchange Board of India said in an order. It concluded that CARE and ICRA violated the provisions of SEBI Act, 1992, and the its code of conduct.

HG Infra Engineering was declared L-1 Bidder for HAM Project in Haryana for worth Rs 372.1 crore.

Adani Ports & SEZ: Life Insurance Corporation of India increased stake in the company to 11.82 percent from 9.82 percent between Dec. 8-23.

Allahabad Bank: Receives fresh capital of Rs 2,153 crore from the government.

Hindustan Aeronautics: CARE Ratings downgraded long-term banking facilities worth Rs 7,300 crore to ‘AA+’ from ‘AAA’ with outlook unchanged at ‘Stable’.

Sical Logistics said that the company would default on payment of non-convertible debentures interest worth Rs 5.5 crore falling due on Dec. 27, due to a cash flow mismatch.

Punjab National Bank allotted bonds worth Rs 1,500 crore on a private placement basis.

Future Consumer said 91.9 percent promoters’ stake is encumbered. Promoters have a 46.29 percent stake in the company.

GPT Infraprojects: CARE Ratings downgraded long-term banking facilities worth Rs 554.21 crore to ‘BBB-’ from ‘BBB’ with outlook unchanged at ‘Stable’.

Simplex Infra defaulted on payment of NCDs interest worth Rs 4.85 crore which was due to Dec. 26, due short-term temporary liquidity crisis, according to Bloomberg report.

IFGL Refractories: Sikandar Yadav to resign as chief financial officer with effect from Jan. 14.

 


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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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