International Markets:

U.S & Europe

Particulars 27th Feb Chg Chg(%)
Nasdaq 8566.48 -414.30 -4.61
Dow 25766.64 -1190.95 -4.42
FTSE 6796.40 -246.07 -3.49
CAC 5495.60 -188.95 -3.32
DAX 12367.46 -407.42 -3.19
Dow Fut.* 25735.50 183.50 0.72

*As per 28th feb

Asian markets:

Particulars 28th Feb. Chg Chg(%)
SGX Nifty* 11431.00 -178.00 -1.53
Nikkei 21217.14 -731.09 -3.33
Straits Times 3050.37 -61.33 -1.97
Hang Seng 26232.27 -546.35 -2.04
Shanghai 2938.60 -52.73 -1.76

 

ADR Watch:

Particulars 27th  Feb Chg Chg(%)
Dr Reddy 42.09 -0.99 -2.30
HDFC Bank 54.99 -0.44 -0.79
ICICI Bank 14.08 -0.36 -2.49
Infosys 10.62 -0.38 -3.45
Tata Motor 9.72 -0.34 -3.38
Wipro 3.56 -0.08 -2.20

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.5600 -0.14
Brent 51.51 -1.28
Gold 1643.30 0.06
Silver 17.567    -0.52

 

FIIs & DIIs

Particulars 27th  Feb. 26th  Feb.
FIIs -3127.36 -3336.60
DIIs 3497.50 2785.67

 

View on market: Buy on dips

 

Asian stocks began another brutal session on Friday as fears about the coronavirus gripped global markets following the biggest tumble for U.S. equities since 2011. Losses for Japan’s Nikkei 225 topped 3 percent in early trading, and Australian stocks saw similar declines. U.S. futures ticked higher, though remained volatile. The Singapore-traded SGX Nifty, an early indicator of Nifty 50 Index’s performance in India, fell 1.53 pecent to 11,431 as of 7:55 a.m.

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

 

Prince Pipes to meet several fund houses such as HDFC AMC, Principal MF, Quest Capital among others on Feb. 28.

Tata Steel to meet Macquarie Capital and Aditya Birla Life insurance on March 3 and 4 respectively.
Fund View:

 

Container Corp Macquarie Initiated ‘Outperform’ with a price target at Rs 625. A rare combination of a market leader and a disruptor. Dedicated freight corridor can shift 20 percent of road traffic to rail on North West route. Further upside exists from end-to-end logistics play. Divestment may fetch 20-25 percent control premium and trigger re-rating.

Thermax UBS Maintained ‘Sell’ with a price target at Rs 895. Revenue growth slows down, order book declines 16 percent YoY in the third quarter. Order flow recovery to be gradual. Flue gas desulphurisation (FGD) orders to help in the near term. FY20-21 EPS cut by 18-19 percent on stagnating order book, margin pressure.

IndusInd Bank Citi Maintained ‘Buy’ with a price target Rs 1,900. CEO related uncertainty ends. Focus on retail likely to increase, especially retail liabilities. Near term asset quality stress likely. Some mid-corporate/SME, loans under SMA 2 may slip into NPA.

 

News Update:

Bank of Baroda sold its entire 4.9 percent stake in Petronet MHB Ltd. for Rs 52.56 crore. The deal is expected to be completed in Q4FY20.

HPCL and ONGC will acquire 17.3 percent stake in Petronet MHB Ltd. for Rs 185.38 crore. After the acquisition, the companies will hold a 50 percent stake in Petronet MHB Ltd. The transaction is expected to be completed in Q4FY20.

HDB Financials plans to raise up to Rs 1,500 crore from bond sale.

Dhanlaxmi Bank has appointed Sunil Gurbaxani as Managing Director & Chief Executive Officer of the bank.

GTPL Hatchway says promoter Jio Content Distribution Holdings Private Limited to sell up to 43.12 lakh shares of the company via OFS. The floor price for the OFS has been fixed at Rs 63 per share (4 percent discount from yesterday’s closing price).

Tata Motors: India CCI has reviewed antitrust complaint against Tata Motors: Reuters.

Lemon Tree Hotels announced its debut in Bhutan, with the launch of Lemon Tree Hotel, Thimphu. This hotel is the second international launch for the company, with an already operational hotel in Dubai. Further hotels will be signed in Nepal and Bhutan, which will open in the future, the company said in the press release.

RITES’ OFS in the non-retail portion was subscribed 1.32 times.

S&P has revised the credit outlook of Motherson Sumi’s subsidiary Samvardhana Motherson Automotive Systems Group B.V to Negative.

Sintex industries will not consider a stake sale in BVM overseas due to non-receipt of the favourable deal.

Pidilite Industries will acquire a 70 percent stake in Tenax India Stone Products Pvt. Ltd. (Tenax India) for Rs 80 crore. Tenax Italy (parent) is the leading manufacturer of adhesives, coating, surface treatment chemicals and abrasives for the marble, granite and stone Industry.

Mahindra Lifespace Developers will acquire land parcel in Pune for development of a residential project.

Petronet LNG and Tellurian Inc. will execute a supplementary MoU aimed at facilitating the terms of the pact signed by the two companies in Sept. 2019 for the driftwood project.

 


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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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