International Markets:

U.S & Europe

Particulars 4th Feb Chg Chg(%)
Nasdaq 9467.97 194.57 2.10
Dow 28807 407.82 1.44
FTSE 7439.82 113.51 1.55
CAC 5935.05 102.54 1.76
DAX 13281.74 236.55 1.81
Dow Fut.* 28758.50 -30.50 -0.11

*As per 5th feb

Asian markets:

Particulars 5th Feb. Chg Chg(%)
SGX Nifty* 11961.00 -12.00 -0.10
Nikkei 23350.00 265.41 1.15
Straits Times 3173.15 16.58 0.53
Hang Seng 26907.50 231.52 0.87
Shanghai 2824.57 41.28 1.48

ADR Watch:

Particulars 4th  Feb Chg Chg(%)
Dr Reddy 45.84 1.74 3.95
HDFC Bank 58.95 1.39 2.41
ICICI Bank 14.83 0.40 2.77
Infosys 11.10 0.16 1.46
Tata Motor 11.73 0.05 0.43
Wipro 3.70 0.07 1.93

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.2712 -0.13
Brent 54.63 +1.24
Gold 1559.05 +0.22
Silver 17.552     -0.05

FIIs & DIIs

Particulars 4th Feb. 3rd Feb.
FIIs +366.21 -1200.27
DIIs +601.86 +1286.63

 

View on market: Buy on dips

The rally in risk assets gathered pace today with stocks across Asia climbing with bond yields amid optimism the global economy can weather the impact of the coronavirus. Treasuries held losses. Japanese equities opened 1percent higher and Australian stocks rose. Futures in Hong Kong were firmer, indicating a second day of gains for Asian shares. Earlier, the S&P 500 Index soared the most since August, by 1.5 percent. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.10 percent to 11,961.00 as of 8:10 a.m.

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

Cipla,Hindustan Petroleum Corporation, Indiabulls Housing Finance, Berger Paints, Brigade Enterprises, DLF, Adani Enterprises, Adani Gas, Ajanta Pharma, Andhra Bank, Apollo Tyres, Avadh Sugar & Energy, Bosch, Cadila Healthcare, Caplin Point Laboratories, Century Enka, Cera Sanitaryware, Divi’s Laboratories, Engineers India, GE Power India, Godrej Agrovet, Gravita India, Greaves Cotton, Gujarat Gas, GTL Infra, Hikal, Jyothy Labs, Kaveri Seed, MAS Financial Services, Matrimony.Com, Max Financial Services, NIIT, Nirlon, PNC Infratech, Prataap Snacks, PTC India, Quick Heal Technologies, Sanghi Industries, Schneider Electric Infrastructure, Shalimar Paints, Shankara Building Products, Sudarshan Chemical Industries, Sundaram Clayton, TCPL Packaging, V-Mart Retail, Xelpmoc Design And Tech, Zuari Agro Chemicals, Zydus Wellness, Tata Teleservices, Waterbase.

Fund View:

Vodafone Idea UBS Maintained ‘Neutral’; cut price target to Rs 5.9 from Rs 6.1. Partial AGR relief could address sustainability debate, but market share loss continuing. Ebitda likely to expand post-tariff hike, but market share erosion to continue. Stabilisation of market share is key for medium-term sustainability especially.

Tata Global Morgan Stanley Maintained ‘Underweight’ with a price target of Rs 323. Positive: strong operating profit margin expansion in U.S. coffee business. Negative: weak operating margins in the domestic and international tea businesses. Plantation and Instant coffee business – strong operating margins.

Punjab National Bank Emkay Maintained ‘Sell’ with a price target of Rs 45. Higher loan loss provision drags bank back into loss. Growth remains anemic; net interest margins largely flat. Merger remains an overhang.

Bharti Airtel UBS Maintained ‘Buy’; hiked price target to Rs 615 from Rs 415. Scenario analysis gives comfort in upside despite recent rally. Maintain preference for Bharti amidst a sector turnaround. Airtel should stand to gain as Vodafone Idea potentially is unable to sustain.

Titan UBS Maintained ‘Buy’ with a price target of Rs 1,525. Store addition on-track; like-for-like growth 9 percent on a yearly basis despite weak demand. Management maintains revenue guidance for 2019-20. Expect market share gains to continue.
News Update:

Sun Pharma launched Absorica LD capsules in the U.S. Market, which is used for the treatment of acne.

Cadila Healthcare received zero Form 483 observations from U.S. FDA, for its Ahmedabad Plant which manufactures oncology injectables for the regulated markets.

Vedanta: NCLT Kolkata has approved amalgamation of the company’s arm Vedanta Star with Electrosteel Steels. Post the amalgamation Vedanta will hold 95.48 percent stake in the target company.

REC: The board approved amalgamation of company’s two arms REC Transmission Projects and REC Power Distribution.

Central Bank of India: Board approved raising up to Rs 500 crore via bonds.

Team Lease Services has increased its stake in IMSI from 72.7 percent to 93.94 percent.

Sundaram Finance to consider increasing the borrowing limit from the existing limit of Rs 30,000 crore on Feb. 10.

Mahindra Logistics: Board approved the appointment of Rampraveen Swaminathan as managing director and chief executive officer till February 2025. He has also been appointed as additional director.

DCB Bank revised MCLR across various tenors with effect from Feb. 6. One Month marginal cost of lending at 8.62 percent and One Year MCLR at 10.22 percent.

Manappuram Finance to consider issue on on Feb. 7.

IFCI said that it has completed its stake sale in National Stock Exchange and further received an amount of Rs 178.7 crore.

Hind Rectifiers secured an order of Rs 54.62 crore for the month of January.

 


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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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