International Markets:

U.S & Europe

Particulars 3rd Feb Chg Chg(%)
Nasdaq 9273.40 122.46 1.34
Dow 28399.81 143.78 0.51
FTSE 7326.31 40.30 0.55
CAC 5832.51 26.17 0.45
DAX 13045.19 63.22 0.49
Dow Fut.* 28445.50 84.50 0.30

*As per 4th feb

Asian markets:

Particulars 4th Feb. Chg Chg(%)
SGX Nifty* 11734.50 27.00 0.23
Nikkei 22995.01 23.07 0.10
Straits Times 3152.27 35.96 1.15
Hang Seng 26636.09 279.11 1.06
Shanghai 2762.17 15.56 0.57

ADR Watch:

Particulars 3rd Feb Chg Chg(%)
Dr Reddy 44.10 0.42 0.96
HDFC Bank 57.56 0.28 0.49
ICICI Bank 14.43 -0.15 -1.03
Infosys 10.94 -0.02 -0.18
Tata Motor 11.68 -0.45 -3.71
Wipro 3.63 0.00 0.00

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.3675 +0.02
Brent 54.81 +0.66
Gold 1580.65 -0.11
Silver 17.692     +0.12

FIIs & DIIs

Particulars 3rd Feb. 1st Feb.
FIIs -1200.27 -1199.53
DIIs +1286.63 +36.64

 

View on market: Buy on dips

Asian stocks opened mixed Today after modest U.S. gains as investors weighed efforts to contain the coronavirus, while oil retained a sharp decline. Equity benchmarks dipped at the open in Tokyo, rose in Seoul and were flat in Sydney. Futures in Hong Kong gained, though China faces another tough session after many stocks traded limit-down on Monday. U.S. futures were little changed. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.35 percent to 11,734.50 as of 8:00 a.m.

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

TVS Motor,Tata Global Beverages, Piramal Enterprises, JSW Energy, Punjab National Bank, Thermax,Exide Industries,Firstsource Solutions, Praj Industries, Action Construction Equipment, Adani Green Energy, Apollo Pipes, Artemis Medicare Services, Avanti Feeds, Bajaj Electricals, Balmer Lawrie, CSB Bank, Dhanlaxmi Bank, Grindwell Norton, GTL, Indo Count Industries, J.B.Chemicals & Pharmaceuticals, Jindal Saw, Liberty Shoes, NRB Industrial Bearings, Oracle Financial Services Software, Shipping Corporation Of India, TCI Finance,GATI,REC,Mahindra Logistics.

Fund View:

Affle India: Nomura Maintained ‘Buy’ with a price target of Rs 1,900. December quarter review: Good execution in a challenging quarter. Segmental metrics were comforting, with growth driven by cost per converted user business. Q4 growth likely to improve led by a weaker base and spread-out demand.

Amara Raja Batteries: Nomura Maintained ‘Neutral’; hiked price target to Rs 793 from Rs 712. Strong December quarter results; expect steady performance. Exports growth continues to drive replacement. With fall in lead prices by about 8 percent on a sequential basis, expect higher margins to be sustained.

Shriram Transport: Morgan Stanley Maintained ‘Overweight’ with a price target of Rs 1,365 Big beat driven by asset quality surprise. Credit costs were much lower than estimates due to sharply lower NPA formation. RoE hit 20 percent in the third quarter; decadal low valuation is attractive.

Dr Lal PathLabs: Prabhudas Lilladher Maintained ‘Hold’; hiked price target to Rs 1,797 from Rs 1,437. Rest of India drives growth while Delhi-NCR muted due to exogenous factors. Management targets western India, Maharashtra for expansion in non-core region. Expect competitive intensity to remain strong with price war.
News Update:

Tata Consultancy Services has expanded partnership with Walgreens Boots Alliance for digital solutions for 10 years. The contract is valued at $1.5 billion. Walgreens Boots Alliance owns pharma manufacturing, wholesale and distribution companies.

Manappuram Finance: Baring India Private Equity Fund II is offering 4.2 crore shares (5 percent) of the company in an accelerated book-building with a floor price of Rs 172 per share, which is at a discount of 6.57 percent to the last closing prices. Baring Fund has 8.76 percent stake in the company as per latest exchange filings, according to Bloomberg report.

Power Grid: The government’s holding in the company has reduced from 53.03 percent to 49.08 percent on Jan. 28.

SRF: The board has approved a project to de-bottleneck the hydrofluorocarbon capacity at Dahej for Rs 65.5 crore and setup dedicated facilities to produce intermediates catering to the agro-chemicals segment for Rs 238 crore.

GMR Infra’s arm GMR Hyderabad International has signed an agreement to operate Bidar airport.

JK Cement has commissioned two grey cement grinding capacity plants with a combined capacity of 2.5 metric tonnes per annum and commenced the commercial dispatches.

National Peroxide said that its Kalyan plant has commenced operation with effect from Feb. 2.

Thyrocare Technologies said that its two centres at Surat and Baroda have been closed due to unfair business practices by the franchisee.

V-Mart has opened three new stores in Madhya Pradesh and Uttar Pradesh. The company also said that it closed one store in Odisha.

Punjab National Bank: The board has approved raising up to Rs 1,000 crore via issue of bonds.

ITI to consider FPO issue price on Feb. 6

M&M Financial Services to consider raising capital via bonds on Feb. 6.

Kohinoor Foods has made an upfront payment towards a one-time settlement to Oriental Bank of Commerce.

 


DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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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