International Markets:

U.S & Europe

Particulars 3rd  Jan Chg Chg(%)
Nasdaq 9020.77 -71.42 -0.79
Dow* 28634.88 233.92 0.81
FTSE 7622.40 18.10 0.24
CAC 6044.16 2.66 0.04
DAX 13219.14 -166.79 -1.25
Dow Fut.* 28473.50 -128.50 -0.45

*As per 6th Jan

Asian markets:

Particulars 6th   Jan. Chg Chg(%)
SGX Nifty* 12196.51 -52.00 -0.42
Nikkei 23171.51 -485.11 -2.05
Straits Times 3217.73 -21.09 -0.65
Hang Seng 28298.96 -152.54 -0.54
Shanghai 3081.01 -2.78 -0.09

 

ADR Watch:  

Particulars 3rd   Jan. Chg Chg(%)
Dr Reddy 40.26 -0.21 -0.52
HDFC Bank 62.01 -1.69 -2.65
ICICI Bank 14.92 -0.31 -2.04
Infosys 10.31 0.02 0.19
Tata Motor 13.18 -0.34 -2.51
Wipro 3.79 0.03 0.80

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.770 0.00
Brent 70.23 2.38
Gold 1579.15 1.72
Silver 18.488 1.86

 

FIIs & DIIs

Particulars 3rd   Jan. 2nd   Jan.
FIIs 1263.05 688.76
DIIs -1029.20 63.95

 

View on market: Buy on dips

Stocks declined in the wake of escalating Middle East tensions as Asian financial markets return to full strength following New Year holidays. Japanese, Australian and South Korean equities fell, and U.S. futures slipped. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.2 percent to 12,221.50 as of 7 a.m.

Key Data/ Action and Board meeting to watch:

Tata Motors to meet Edelweiss Securities and Fidelity Management from Jan. 6-7.

Mahindra Logistics to meet GoDigit General Insurance on Jan. 6.

Fund View:

Adani Ports: CLSA Maintained ‘Buy’ with a price target of Rs 485. Made largest port M&A at an attractive valuation to solidify its hold over eastern India coast. M&A is likely to improve earnings quality and yield on this acquisition is likely to be 11.4 percent in 2020-21. Strategic asset to deliver 14 percent growth in port Ebitda over FY19-21.

L&T UBS Upgraded to ‘Buy’ from ‘Sell’; hiked price target to Rs 1,600 from Rs 1,401. Leader likely to become stronger; well placed to benefit from changing landscape. Change in investment composition trend could accelerate. View any weakness driven by near-term misses as buying opportunity. Key risk: growth stagnation resulting in fiscal pressure depressing infrastructure investments.

PVR UBS Maintained ‘Buy’; hiked price target to Rs 2,250 from Rs 1,950. Multiple levers adding to exhibitors’ strength and bargaining power. Solid screen addition pipeline; ticket price increase likely. Risk from OTT platforms and Jio much lower than priced in by the market.

News Update:

Adani Ports will buy a 75 percent stake in the all-weather deep-water port in Andhra Pradesh at an enterprise value Rs 13,572 crore, according to its filing with stock exchanges. The deal is EPS (earnings per share) accretive from day one with a payback period of four years, the company said, adding that it will be funded by internal accruals and cash. The acquisition fits well with Adani Ports’ strategy to increase its footprint in Andhra Pradesh and nearly double its cargo throughput to 400 million metric tonnes by the financial year 2024-25 via expansion and acquisitions.

Titan said it witnessed “reasonable growth in the festive season”, with retail sales picking up at the start of the three-month period owing to the wedding season—between November and January. It indicated a 11 percent growth in jewellery sales in the period, in line with the company’s revised projections for the second half of 2019-20.

Sobha informed the exchanges that it sold nearly 10.66 lakh square feet of real estate in December quarter—a 17 percent increase over the previous year—netting nearly Rs 726.1 crore in sales value. Of this, Sobha’s share was around Rs 607.5 crore. That’s because the company developed some projects in coordination with other realtors. Dixon Technologies Dixon Technologies will partner with Samsung for manufacturing of LED TVs.The LED TV segment contributes about 40 percent of the total revenue, of which, 65 percent is contributed by Xiaomi.

HDFC reduced the benchmark lending rate by 0.05 percent, a move that will bring down interest rate for existing as well new borrowers. The New rates will now range between 8.20 percent and 9 percent, and the change will benefit all existing customers, it said.

Allahabad Bank Government infused Rs 2,153 crore capital.

SBI: SBI Cards and Payments to raise capital via issue of commercial papers worth Rs 400 crore on a private placement basis.

Birlasoft: Rajeev Gupta resigned from chief financial officer’s post with effect from March 31.

TCS filed an appeal with the Supreme Court on Jan. 3, in the TCS versus Cyrus Investments Pvt Ltd. & Ors case. This was against National Company Law Appellate Tribunal Judgment directing reinstatement of Cyrus Mistry as a director of the company for rest of the tenure.

Ashoka Buildcon executed a concession agreement with National Highways Authority of India for a four-laning project of National Highway-161 in Telangana. This was under Bharatmala Pariyojna on Hybrid Annuity Model.

Future Retail: Board approved raising of $500 million senior secured USD-denominated notes. This is to meet the capital expenditure for the acquisition of in-store infrastructure retail assets.

Divi’s Laboratories: Board approved re-designation of Kiran Divi as whole-time director and chief executive officer.

 


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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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