International

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

 

FIIs & DIIs

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:

Wipro:

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

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