International Markets:

U.S & Europe

Particulars 26th Feb Chg Chg(%)
Nasdaq 8990.78 15.17 0.17
Dow 26957.59 -123.77 -0.46
FTSE 7042.47 24.59 0.35
CAC 5684.55 4.87 0.09
DAX 12774.88 -15.61 -0.12
Dow Fut.* 26678.00 -236.00 -0.88

*As per 27th feb

Asian markets:

Particulars 27th Feb. Chg Chg(%)
SGX Nifty* 11669.00 -56.00 -0.48
Nikkei 22019.57 -406.62 -1.81
Straits Times 3100.16 -17.36 -0.56
Hang Seng 26481.32 -215.17 -0.43
Shanghai 3004.32 16.39 0.55

 

ADR Watch:

Particulars 26th  Feb Chg Chg(%)
Dr Reddy 43.08 0.41 0.96
HDFC Bank 55.43 -0.29 -0.52
ICICI Bank 14.44 0.02 0.14
Infosys 11.00 -0.02 -0.18
Tata Motor 10.06 0.00 0.00
Wipro 3.64 -0.02 -0.55

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.6638 -0.31
Brent 52.69 -1.38
Gold 1651.25 0.49
Silver 17.968       0.76

 

FIIs & DIIs

Particulars 26th  Feb. 25th  Feb.
FIIs -3336.60 -2315.07
DIIs 2785.67 1565.28

 

View on market: Buy on dips

 

Stocks in Asia retreated along with U.S. equity futures after U.S. health authorities said they found the first case of coronavirus that does not have ties to a known outbreak. Japanese shares were down more than 1.5 percent, with shares in Seoul and Sydney also lower. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.96 percent to 11,669.00 as of 7:55 a.m.

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

 

India Cements

Radhakishan Damani buys 27.25 lakh shares (0.9 percent equity) at Rs 104.16 each.

Gopikishan Damani buys additional 85.22 lakh shares (2.7 percent equity) at Rs 98.42 each.

Tata Chemicals

Tata Sons Pvt. Ltd buys 14.96 lakh shares (0.6 percent equity) at Rs 742.44 each.

Sadbhav Engineering

Blue Diamond Properties Private Limited buys 42 lakh shares (2.4 percent equity) at Rs 74.99 each.

Aditya Birla Sun Life Mutual Fund sells 26.92 lakh shares (1.6 percent equity) at Rs 75 each.

Hdfc Standard Life Insurance Co Ltd sells 8.90 lakh shares (0.5 percent equity) at Rs 80.13 each

Fund View:

 

Federal Bank Citi Maintained ‘Buy’ with a price target at Rs 110 Management reiterated its target of RoA of 1.25 percent by March 2021. Credit cards, other yield accretive products to ramp up. FedServ, 100 percent subsidiary, to lower cost, treasury business expanding. Continue to build strong liability franchise. Bank does not see issue in corporate asset quality.
Havells HSBC Maintained ‘Buy’ with a price target at Rs 700. At an infection point of a major turnaround. Havells’ weak results in recent quarters drove earnings downgrade and weighed on its share price Q4 results should be a share price catalyst. Expect ~24 percent PBT CAGR over FY20e-22e. Strong growth will be driven by both top line growth as well as margin improvement.

IndusInd Bank Macquarie Maintained ‘Outperform’ with a price target at Rs 1,558. Hosted a call for investors with the CEO of the bank. Have sent a list of candidates for CEO position five months in advance MFI exposure is just Rs 40 crore, repayment rates are 93 percent. No deterioration in portfolio quality in Hong Kong, China. Probability of guarantees being invoked in telecom exposure is low.

Nestle UBS Maintained ‘Buy’; raised price target to Rs 19,250 from Rs 17,000. Revenue growth momentum continues, margin upside potential. Price increases, new product innovation, operating leverage ahead. Distribution led growth to continue, we prefer packaged food.

Metals Edelweiss Domestic HRC price slipped further last week primarily due to subduedreal demand. International HRC prices have increased USD10/t on average as some provinces in China have resumed operations. Record-high steel inventory continues to be an overhang. Scope for a further correction in domestic HRC prices if exports from China pick up. Coronavirus is likely to keep up the pressure on domestic steel prices in the near term.

News Update:

The Chandigarh NCLT bench today approved the scheme of arrangement and amalgamation between GSK Consumer Healthcare and Hindustan Unilever. The effective date of the merger is likely to be communicated soon.

Thomas Cook to buyback upto 2.60 crore equity shares at Rs 57.5 each. Post buyback, promoter holding in the company will increase to 70.46 percent from 65.60 percent at present.

RITES: The Government proposed to sell 1.25 crore shares (5 percent equity) in RITES via offer for sale with an option to sell an additional 5 percent stake. The floor price for the offer has been fixed at Rs 298 per share (discount of 6.6 percent to CMP).
IndiGo denies allegations of wrongdoing or avoidance of process. The company said it has not received any communication from SEBI.

 


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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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