Markets:U.S & Europe

Particulars      4th  Mar. Chg Chg(%)
Nasdaq 12,723.47 -274.28 -2.11
Dow 30,924.14 -345.95 -1.11
FTSE 6,650.88 -24.59 -0.37
CAC 5,830.65 0.59 0.01
DAX 14,056.34 -23.69 -0.17
Dow Fut.*   30,805.00 -71 -0.23


Asian markets:

Particulars       5th Mar. Chg Chg(%)
SGX Nifty 14,930.50 -140.5 -0.93
Nikkei 28,359.11 -571 -1.97
Straits Times 3,004.77 -10.01 -0.33
Hang Seng 28,848.31   -388.48 -1.33
Shanghai 3,481.90 -21.59 -0.62


ADR Watch:

Particulars                   4th Mar. Chg Chg(%)
Dr Reddy 61.78 0.85 1.4
HDFC Bank 81.33 -1.18 -1.43
ICICI Bank 16.96 -0.19 -1.11
Infosys 18.17 -0.29 -1.57
Tata Motor 22.5 -0.92 -3.93
Wipro 6.44 -0.03 -0.46


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.01          0.38
Brent 67.35          0.91
Gold 1690.80         -0.58  
Silver       25.27         -0.74



Particulars 4th Mar       3rd  Mar
FIIs      -223       2088.70
DIIs      -788         392.91


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

Asian equities followed their peers on Wall Street lower on the final trading day of the week. Stocks declined after Federal Reserve Chairman Jerome Powell refrained from pushing back against the recent surge in bond yields. Benchmark indices in Japan, South Korea and Australia declined. The U.S. Dollar too has strengthened, pushing the yen to an eight-month low. Oil prices continued to rise after the OPEC+ surprised traders with their decision to keep output unchanged. Saudi Oil Minister Prince Abdulaziz bin Salman told reporters that he does not believe that the actions of the group will ‘overheat’ the oil market. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.5% to 14,847 as of 7:15 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: FX Reserves, (USD) on 5th, March,2021
  • USD: Unemployment Rate (Feb) on 5th, March,2021

Fund View:


CLSA On India Oil & Gas First signs of reversal in domestic gas production after years of decline Recent auctions by RIL-BP should reinforce belief in meeting output targets Eastern offshore fields should drive a 35% rise in domestic gas production More positive on gas consumption plays than Petronet LNG Weak LNG demand and rising competition in the re-gas industry will make the macros adverse for LNG re-gasifiers like Petronet Prefer gas consumption plays like GSPL and city gas players like IGL, MGL & Gujarat Gas.

Emkay On Wipro

Maintains hold rating Price target raised to Rs 450 from Rs 420 Capco acquisition to bolster BFSI capabilities Acquisition to create significant cross-selling opportunities and aid wallet share expansion across existing clients Integration of a low-margin business and higher non-cash charges are likely to impact Ebit margins by ~200 basis points in the first year Margins will improve on revenue and cost synergies from the second year Acquisition expected to be EPS accretive in the third year.

Prabhudas Lilladher On IRCTC

Maintains buy rating Price target raised to Rs 2,179 from Rs 1,639 Volume delta in ticketing due to conversion of unreserved coaches to reserved category is likely to be in the range of 35% Increase e-ticketing volume estimates by ~13% for FY22E/FY23E Even with complete migration towards ready-to-eat (RTE) meals post-Covid, there may not be a substantial business loss as RTE menu has already been expanded. Raise EPS estimates by 5.9%/5.7% for FY22E/FY23E.

News Update:


The company has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. This acquisition will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial service industry. Capco has an experienced executive team and over 5,000 business and technology consultants based across more than 30 global locations. The cost of acquisition is $1.45 billion subject to customary closing conditions and regulatory approvals and is expected to close in the quarter ending June 30, 2021.

Max Healthcare Institute:

The Board of Directors approved the opening of QIP of equity shares of face value of Rs 10 on March 4. The floor price of Rs 190.40 per equity share is a discount of 2.54% to Thursday closing price. Also, the company may at its absolute discretion offer a discount of not more than 5% of the floor price. Further, the QIP Issue Committee of the Board of Directors at a meeting on March 9, 2021 will consider and approve the issue price of the equity shares to be issued to qualified institutional buyers, pursuant to the issue.

Indiabulls Housing Finance:

The securities issuance committee has approved the allotment of $150 million of 4.5% secured Foreign Currency Convertible Bonds due 2026 convertible into equity shares of Rs 2 each, subject to receipt of funds, satisfaction of other conditions and procedures and relevant agreements. The bonds are proposed to be listed on Singapore Exchange Securities Trading. Further, the company said as many as 4.49 crore equity shares of the company would be in the trade-off with the FCCBs.

Isgec Heavy Engineering:

The company has received an order for Waste Heat Recovery Boilers from Shree Cement. These Boilers are to be set up at their Raipur unit and will be of two types, a PH Boiler to be installed at the pre-heater exhaust, and an AQC Boiler to be installed at the cooler exhaust from the 10,500 TPD kiln

                                                                                                                                            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.