International Markets:

U.S & Europe

Particulars 2nd  Jan Chg Chg(%)
Nasdaq 9092.19 119.59 1.33
Dow* 28868.80 330.36 1.16
FTSE 7604.30 61.86 0.82
CAC 6041.50 63.44 1.06
DAX 13385.93 136.92 1.03
Dow Fut.* 28807.50 -33.50 -0.12

*As per 3rd Jan

Asian markets:

Particulars 3rd  Jan. Chg Chg(%)
SGX Nifty* 12343.50 6.50 0.05
Nikkei 23656.62 -181.10 -0.76
Straits Times 3260.19 8.19 0.25
Hang Seng 28679.04 135.52 0.47
Shanghai 3086.55 1.35 0.04


ADR Watch:  

Particulars 2nd  Jan. Chg Chg(%)
Dr Reddy 40.47 -0.11 -0.27
HDFC Bank 63.70 0.33 0.52
ICICI Bank 15.23 0.14 0.93
Infosys 10.29 -0.03 -0.29
Tata Motor 13.52 0.59 4.56
Wipro 3.76 0.01 0.27


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3725 0.21
Brent 67.45 1.81
Gold 1537.75 0.63
Silver 18.157 0.60



Particulars 2nd   Jan. 1st  Jan.
FIIs 688.76 -58.87
DIIs 63.95 208.47


View on market: Buy on dips

Stocks in Asia were primed for gains on today after a strong start to the year lifted U.S. equities to fresh all-time highs. Futures indicated gains for equities in Hong Kong and shares opened higher in Australia. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.05 percent to 12,343.50 as of 7:45 a.m.

Key Data/ Action and Board meeting to watch:

KEC International to meet IIFL Securities on Jan. 3.

Authum Investment & Infrastructure: The board will meet on January 3 for a general-purpose.

Octaware Technologies: The board will meet on January 3 for a general-purpose.

Deccan Bearings:The board will meet on January 3 to consider and approve their quarterly results.

Mitshi India: The board will meet on January 4 to consider and approve preferential issuance of shares.

Unitech: The board will meet on January 4 to consider and approve their quarterly results.


Fund View:

Goldman Sachs on Oil Companies

ONGC: Upgraded to ‘Buy’ from ‘Neutral’; cut price target to Rs 175 from Rs 220

Oil India: Upgraded to ‘Buy’ from ‘Neutral’; hiked price target to Rs 205 from Rs 255

Upstream companies share price pricing Brent at $45 per barrel.

Positives:- improving volume trends, subsidy inching zero and improvement in sentiment

NMDC Citi Maintained ‘Buy’ with a price target of Rs 125. First price hike since May 2019; lack of competition to prevent fall in pricing. Expiry of Odisha mining lease may not be disruptive for domestic ore supply.

Marico Macquarie Maintained ‘Outperform’ with a price target of Rs 430. India business posted marginal decline in volume. Expect high single digit revenue growth in Q3 from international business. Margin expansion to remain on track due to benign input cost.

JSPL Morgan Stanley Maintained ‘Overweight’ with a price target of Rs 174. Strong volume growth for standalone business as well as Oman business unit in the third quarter. Start of the DRI plant at Angul in January, to drive upside risk to estimates.

News Update:

HDFC said it has recorded a fair value gain of Rs 9,020 crore from Gruh-Bandhan merger.

Hero MotoCorp December sales fell 6 percent year-on-year to 4,24,845 units. (BloombergQuint estimate: 4,31,250 units).

JSW Energy said the company entered into an agreement with Jaiprakash Power Ventures Ltd. to restructure the principal outstanding amount of Rs.751.77 crore, owed by JPVL to the company.

NMDC set lump order price at Rs 2,800 per tonne; Fines at Rs 2,560 per tonne.

ONGC won seven blocks offered under fourth auction round, according to a Bloomberg report.

GAIL: The company said no amount is payable to Indian government under internet license, according to a Bloomberg report.

Rites JV secured Rs 100 crore order from Government of Bangladesh.

Natco Pharma filed an application for a generic version of cancer drug Lonsurf. Lonsurf has recorded sales of $150 million in 2018 in U.S. as per IQVA.

Peninsula Land said a delay in government rent payout has affected loan repayment. It clarified that there was no default in payment of any financial obligation by the company.

Kirloskar Electric said the pact with SSEL has been put on hold indefinitely.

FDC received GMP certificate from U.K. Medicines and Healthcare Products Regulatory Agency for Goa unit.

Krebs Biochemicals & Industries will issue up to 13.70 lakh equity shares top promoter group IPCA Laboratories at a price of Rs 86 per share. Additionally, the company will also issue 35.60 lakh convertible warrants of Rs 86 each to promoters IPCA laboratories.

Vipul Organics received Maharashtra Pollution Control Board approval to commence operations at its new plant in Tarapur.

SBIUnion Bank: The State Bank of India (SBI) and Union Bank of India are looking to sell their non-performing loans totalling Rs 2,836 crore to banks, asset reconstruction companies and other financial institutions.



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