International Markets:

U.S & Europe

Particulars 27th  Dec Chg Chg(%)
Nasdaq 9006.62 -15.77 -0.77
Dow* 28645.26 23.87 0.083
FTSE 7644.90 12.66 0.17
CAC 6037.39 7.84 0.17
DAX 13337.11 36.13 0.27
Dow Fut.* 28650.50 40.50 0.14

*As per 30th Dec

Asian markets:

Particulars 30th   Dec. Chg Chg(%)
SGX Nifty* 12331.50 -9.50 -0.08
Nikkei 23723.14 -114.58 -0.48
Straits Times 3227.46 0.93 0.03
Hang Seng 28306.10 80.68 0.29
Shanghai 3006.69 1.65 0.05

 

ADR Watch:  

Particulars 27th  Dec. Chg Chg(%)
Dr Reddy 40.59 0.08 0.20
HDFC Bank 63.11 -0.19 -0.30
ICICI Bank 15.28 0.18 1.19
Infosys 10.26 0.09 0.88
Tata Motor 12.32 -0.04 -0.32
Wipro 3.76 -0.04 -1.05

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3550 0.05
Brent 68.27 0.16
Gold 1518.05 0.00
Silver 17.953 0.06

 

FIIs & DIIs

Particulars 27th  Dec. 24th  Dec.
FIIs 81.37 -504.13
DIIs 125.77 120.46

 

View on market: Buy on dips

Asian stocks drifted lower on today from the highest level in a year and a half, with few financial-market catalysts going into the year-end. Equities in Tokyo opened weaker, while they fell in Sydney and were little changed in Seoul. U.S. futures edged up. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.08 percent to 12,331.50 as of 8:00 a.m.

Key Data/ Action and Board meeting to watch:

Care Ratings to meet BNP Paribas on Dec. 30.

Mahindra Lifespace Developers to meet SKS Capital Research and Verba Financial on Jan. 3.

Eris Lifesciences to meet Kotak Offshore Fund on Dec. 30.

Torrent Power to meet Kotak Offshore Fund on Dec. 30.

Mahindra Logistics to meet Sundaram MF on Dec. 30.

Fund View:

NMDC Equirus Initiated ‘Long’ with a price target of Rs 158. Supply disruptions to spike domestic iron ore prices. NMDC is the biggest beneficiary of Odisha mining disruption. Improving iron ore domestic demand; no visible cost pressures.

Bharti Airtel Morgan Stanley Maintained ‘Overweight’ with a price target of Rs 530 Price hike on minimum recharge plan. Do not expect the incremental benefit of this price hike to be meaningful. There could be some churn involved with the move as well.

Adani Ports CLSA Maintained ‘Buy’ with a price target of Rs 485. Snowman M&A increased Adani Ports consolidated Ebitda by 0.7 percent for 2020-21. Acquisition at an EV/Ebitda of 11.8 times FY21 – premium due to high growth potential Funding is not a problem as its post-acquisition leverage shall rise 1.8 percent.

Emkay on Auto Sector: Dec-19 volume performance to be better than earlier months. Domestic PV industry growth expected to be marginally positive at 2 percent YoY. See muted performance in two-wheeler; mixed bag for tractors. Expect auto sales cycle to see a gradual recovery due to mix of various factors.

News Update:

Gateway Distriparks Adani Logistics Ltd., a wholly owned subsidiary of Adani Ports and Special Economic Zone Ltd., signed definitive agreements to acquire 40.25 percent stake in Snowman Logistics from the company, the company said in a statement.

JSW Steel: The company’s Netherlands-based subsidiary will offload 39 percent stake in joint venture firm Geo Steel LLC for $23.08 million.

Gujarat Narmada Valley Fertilizers & Chemicals has advanced its planned shutdown by around three weeks after temporarily suspending the production of TDI at its TDI-II plant at Dahej. The said plant will remain under shutdown from Dec. 27- Jan. 15 due to challenging external environment and market conditions of TDI.

BEML signed a memorandum of understanding with Ircon International to explore and address opportunities in the overseas market for large infrastructure projects in the transportation sector. This MoU is aimed at promoting supply of BEML manufactured rolling stock as well as construction equipment for Railway projects outside India wherein Ircon will carry out civil and construction work as well as facilitate design validation for rolling stock of BEML.

Rites: Board declared interim dividend of Rs 6 per share and fixed the record date fixed on Jan. 10. Besides, the board also approved to acquire 24 percent stake in Indian Railway Station Development Corporation for Rs 48 crore.

Sun Pharma: The National Company Law Tribunal has blocked scheme of arrangement between the company and its U.S. and Netherlands units. The company is reviewing the order in detail and the scheme is an internal restructuring exercise.
Tata Global Beverages said that date of reviewing terms of joint venture with PepsiCo has been extended from Dec. 31 to June 30.

SRF said that demand raised by Collector of Stamps amounting to Rs 29 crore in relation to acquisition of captioned division from CEAT, has been paid in the current quarter. This adjustment was already provided for in the second quarter of the current financial year.

SBI Life Insurance: Statutory Auditor GMJ and Co resigned, as on the senior partners has been nominated by the Central Government as a non-official director on the Central Board of State Bank of India.

Piramal Enterprises Board approved issue of non-convertible debentures worth Rs 2,750 crore. NCDs will be issued in one or more tranches.

 


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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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