Markets:U.S & Europe

Particulars   4th March. Chg Chg(%)
Nasdaq 12,997.75 -361.04 -2.7
Dow 31270.09 -121.43 -0.39
FTSE 6,675.47 61.72 0.93
CAC 5,830.06 20.33 0.35
DAX 14,080.03 40.23 0.29
Dow Fut.* 31,157.00 -79 -0.25


Asian markets:

Particulars     4th March. Chg Chg(%)
SGX Nifty 15,041.50 -253.5 -1.66
Nikkei 29,004.41 -554.69 -1.88
Straits Times 3,004.13 3.76 0.13
Hang Seng 29,267.60 -612.82 -2.05
Shanghai 3,520.31 -56.59 -1.58


ADR Watch:

Particulars      3rd March. Chg Chg(%)
Axis Bank 50.8 1.4 2.83
HDFC Bank 82.51 -0.29 -0.35
ICICI Bank 17.15 0.31 1.84
Infosys ADR 18.46 0.44 2.44
TATAMOTORS 23.42 0.07 0.3
Wipro 6.47 0 0


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 72.73 -0.88
Brent 64.27 0.31
Gold 1709.50 -0.39
Silver 26.205 -0.69



Particulars 3rd March. 2nd March..
FIIs 2088.70 2223.16
DIIs 392.91 -854.04


View on market: Stay Cautious, be with quality business:

Asian equities have opened lower after an overnight surge in bond yields again dragged shares on Wall Street. Benchmark indices in Japan, South Korea and Australia fell while the Nasdaq declined to a two-month low overnight. The U.S. Dollar strengthened while oil prices fell ahead of the crucial OPEC meeting later today. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.66% to 15,041.50 as of 8:30 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: FX Reserves, USD on 5th March, 2021

  • USD : Initial Jobless Claims on 4th March, 2021

  • USD : Nonfarm Payrolls (Feb) on 5th March, 2021

Whos Meeting Whom

UltraTech Cement :

To meet BNP Paribas Asset Management on March 4.

Eicher Motors:

        To meet Ashmore Investment Management on March 4.

Infibeam Avenues:

  To meet Zaaba Capital on March 4.

Paisalo Digital:

        To meet Tata Mutual Fund and Elara Capital on March 5.

Bulk Deals:

Nava Bharat Ventures:

The company bought 15.46 lakh shares (0.88%) at Rs 71.96 per share.

Indiabulls Housing Finance:

Kotak Securities bought 23.44 lakh shares (0.51%) at Rs 244.14 per share and sold 3.72 lakh shares at Rs 240.42 per share.

News Update:

Adani Ports and Special Economic Zone:

To acquire the 31.5% stake held by Windy Lakeside Investment Limited (an affiliate of Warburg Pincus) in Gangavaram Port Ltd. for around Rs 1,954 crore. The company said the acquisition will expand its market share to 30% across 12 locations in India. The deal is expected to be completed in 45 days. Adani Ports is also in discussions with DVS Raju and Family.

Canara Bank:

The Indian Banks’ Association has informed the bank that the United Forum of Bank Unions has given a call for strike in the banking industry on March 15, 2021 and March 16, 2021 for the issues relating to industry level and not for any bank level issues.
DLF: Has decided not to proceed with the proposed issuance of listed secured NCDs aggregating up to Rs 395 crore.


Has reduced its Retail Prime Lending Rate on Housing loans, on which its Adjustable Rate Home Loans are benchmarked, by 5 basis points, with effect from March 4, 2021.

IRCON International:

The government will exercise the greenshoe option to the extent of 2.82 crore shares or 6% of the total equity in addition to selling 4.7 crore shares through an offer for sale. Accordingly, the total offer size will be up to 7.52 crore shares or 16% of the total equity of which up to 2.25 crore shares will be available as part of the offer share for retail investors on March
IRCTC: To operate trips through Golden Chariot from March 14, 2021 onwards.

Mazagon Dock Shipbuilders:

To commission third Scorpene Submarine Karanj on March 10 and has commenced the sea trials of first ship Visakhapatnam of Project P-15B, which is due for delivery later this year.

Pledge Share Details

Adani Enterprises:

Promoters Gautam Adani and Rajesh Adani revoked pledge of 3.54 crore shares on March 1.

Adani Transmission:

Promoters Gautam Adani and Rajesh Adani revoked pledge of 9 lakh shares on March 2.


Promoter Samvegbhai Lalbhai revoked pledge of 50,000 shares on March 1.

Chambal Fertilisers & Chemicals:

Promoter Zuari Global created a pledge of 8.70 lakh shares on March 1.

Ruchi Soya Industries:

Promoter Patanjali Ayurved created a pledge of 14.25 crore shares on March 1.

Steel Strips Wheels: Promoter SAB Industries revoked pledge of 2 lakh shares on March 2. 

Source: MoneyControl, Business Standard, Bloomberg,Investing

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited,
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting , or e-mailing with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website:
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.