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

Equity markets in Japan along with the MSCI Asia Pacific gauge have opened higher at the start of the new trading week. Investors weigh an unexpectedly strong U.S. jobs report and the sustainability of the recent bond market sell-off. Markets in China, Hong Kong and Australia are closed on account of the Easter break. Oil prices traded lower as OPEC+ decided to boost production and Saudi Arabia raised prices for shipments to Asia. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.6% to 14,902, as of 8:27 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Nikkei Markit Manufacturing PMI (Mar) on  5th  April 2021
  • INR: Interest Rate Decision  on 7th  April, 2021
  • USD : ISM Non-Manufacturing PMI (Mar) on 5th April, 2021
  • USD: EIA Short-Term Energy Outlook on 6th April, 2021

International

Markets:U.S & Europe

Particulars     2nd  April. Chg Chg(%)
Nasdaq 13,480.11 233.24 1.76
Dow 33153.21 171.66 0.52
FTSE 6,737.30 23.67 0.35
CAC 6,102.96 35.73 0.59
DAX 15,107.17 98.83 0.66
Dow Fut.* 33,245.50 208.5 0.63

 

   Asian markets:

Particulars       5th April. Chg Chg(%)
SGX Nifty 14,902.00 -90.5 -0.6
Nikkei 30,083.19 229.19 0.77
Straits Times 3,206.72 25.04 0.79
Hang Seng 28,938.74 560.39 1.97
Shanghai 3,484.39 18.06 0.52

 

  ADR Watch:

Particulars                 2nd April.  Chg Chg(%)
Dr Reddy 67.72 0.00 0.00
HDFC Bank 77.74 0.00 0.00
ICICI Bank 16.21 0.00 0.00
Infosys 19.01 0.00 0.00
Tata Motor 21.03 0.00 0.00
Wipro 6.50 0.00 0.00

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.11   0.00
Brent 64.47 -0.60
Gold 1726.50 -0.11
Silver 24.968  0.08

 

FIIs & DIIs

Particulars 1st April  March 2021
FIIs 149.21 1245.22
DIIs -296.84 5204.42

News Update:

Dixon Technologies:

Has incorporated two wholly-owned subsidiaries Dixon Electro Manufacturing Pvt. Ltd. and Dixon Technologies Solutions Pvt. Ltd. for business purposes.
Tata Power:

Has acquired 51% stake in TP Northern Odisha Distribution Ltd. for Rs 191.25 crore. TPNODL has been vested the license to carry out the function of distribution and retail supply of electricity covering circles of Balasore, Bhadrak, Baripada, Jajpur and Keonjhar in Odisha for a period of 25 years from April 1, 2021.

Tata Motors:

Has completed the sale of its Defence business to Tata Advanced Systems Ltd. for an upfront consideration of Rs 227.7 crore. The transfer has been completed on a slump sale basis. The consolidation will yield benefits in the form of operational and financial synergies helping deliver better value for both the entities.

SAIL:

Recorded best ever quarterly performance in production and sales during Q4FY21. Crude steel production up 6% to 4.55 MT from 4.31 MT year-on-year while sales rose 14% to 4.27 MT from 3.74 MT year-on-year. The company saw its best ever annual sales of 14.87 MT in FY21. The company has reduced its gross debt by around Rs 16,150 crore and currently stands at Rs 35,330 crore as of March 31, 2021.

HDFC:

To create a special situations platform by HDFC Capital Advisors Ltd., a wholly-owned subsidiary which will seek to purchase inventory and provide last-mile funding for under construction residential projects across India. The company in a separate exchange filing said that individual loan business continued to see strong improvement during the quarter. The company assigned loans worth Rs 7,503 crore to HDFC Bank as compared to Rs 5,479 crore during the same period last year. Individual loans sold in the preceeding 12 months amounted to Rs 18,980 crore Vs Rs 24,127 crore.

NTPC:

Unit-2 of 660 MW capacity fo Nabinagar Super Thermal Power Project (3X660 MW) of Nabinagar Power Generation Co. Ltd., a wholly-owned subsidiary has successfully completed trial operations and has been included in the installed capacity of the NTPC group. The total installed capacity of the NTPC group with this inclusion is now at 65,150 MW.

NMDC:

Prices of lump ore raised by 9.3% to Rs 5,850 per tonne while prices of fines raised by 5.8% to Rs 4,560 per tonne. Prices were revised higher on March 20, 2021 as well.

Jaiprakash Power Ventures:

In-line with the company’s endeavor to reduce its debt, the company ha pre-paid its long-term / working capital loans amounting to Rs 299.51 crore. Pre-payments were made through the sale proceeds of the company’s 74% stake in Jaypee Powergrid Ltd. Also, CRISIL and ACUITE have assigned rating of BBB- on the company’s bank facilities with a stable outlook.

Bajaj Electricals:

The company has announced lay-offs at its manufacturing unit in Shikohabad in Uttar Pradesh as per the Industrial Disputes Act, 1947.

IRCTC:

Services of Mumbai-Ahmedabad Tejas Express suspended for one month owing to rising coronavirus cases.

IL&FS Transportation Networks:.

Completes stake sale in China Road Asset to China Merchants & PingAn Infrastructure Phase 1 Equity Investment Fund – a fund jointly owned by PingAn Insurance and China Merchants. The company has received a consideration of Rs 1,035 crore from the same. The consideration will be used to pay nearly $88 million worth of loans of Bank of Baroda and the balance will be used to meet the liabilities of IIPL, including bondholders under IOPL. Also, the company’s subsidiary Kiratpur Ner Chowk Expressway Ltd. has entered into a settlement agreement with NHAI for foreclosure of the project at a compensation of Rs 672.62 crore.

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 www.elitewealth.in. 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, suhail@elitewealth.in
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 www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com 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 research@elitestock.com.
Options 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 https://www.elitewealth.in 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 an y 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: www.elitewealth.in
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 %. 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 publicappearance;
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 brokerag e services from the subject companyin 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 brokerageservices 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