International Markets:

U.S & Europe

Particulars 5th Feb Chg Chg(%)
Nasdaq 9508.68 40.71 0.43
Dow 29290.85 483.22 1.68
FTSE 7482.48 42.66 0.57
CAC 5985.40 50.35 0.85
DAX 13478.33 196.59 1.48
Dow Fut.* 29356.00 115.00 0.39

*As per 6th feb

Asian markets:

Particulars 6th Feb. Chg Chg(%)
SGX Nifty* 12083.50 -16.50 -0.14
Nikkei 23803.19 483.63 2.07
Straits Times 3209.08 8.95 0.28
Hang Seng 27228.88 442.14 1.65
Shanghai 11678.87 105.25 0.91

 

ADR Watch:

Particulars 5th  Feb Chg Chg(%)
Dr Reddy 44.50 -1.34 -2.92
HDFC Bank 58.98 0.03 0.05
ICICI Bank 15.05 0.22 1.48
Infosys 11.04 -0.06 -0.54
Tata Motor 12.64 0.91 7.76
Wipro 3.74 0.04 1.08

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.2150 -0.08
Brent 55.96 1.23
Gold 1557.75 -0.32
Silver 17.617     0.09

 

FIIs & DIIs

Particulars 5th Feb. 4th Feb.
FIIs +248.94 +366.21
DIIs +262.75 +601.86

 

View on market: Buy on dips

Stocks in Asia gained after data showed resilience in the U.S. economy and investors speculated the fallout from the coronavirus could be contained. Shares opened higher in Tokyo and Sydney and futures rose earlier in Hong Kong, signalling equities in the Asia Pacific could be on course for the third day of gains. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.14 percent to 12,083.50 as of 8:15 a.m.

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

Eicher Motors, Hero MotoCorp, Sun Pharma, NMDC, Lupin, Aarti Drugs, Aurobindo Pharma, Bata India, Metropolis Healthcare, RITES, Trent, United Bank of India, United Breweries, Adani Power, Aditya Birla Fashion and Retail, Advanced Enzyme Technologies, Ajmera Realty, Akzo Nobel, Alkyl Amines Chemicals, Birla Cable, Dalmia Bharat, E.I.D. Parry, Endurance Technologies, Esab India, GlaxoSmithKline Consumer Healthcare, GPT Infraprojects, Gujarat Alkalies and Chemical, Gujarat Pipavav Port, Hind Rectifiers, Hindustan Construction Company, ICRA, IDFC, Intellect Design Arena, Johnson Controls, Hitachi Air Conditioning, LGB Forge, LT Foods, Magadh Sugar & Energy, Minda Corporation, Minda Industries, Monte Carlo Fashions, MphasiS, OnMobile Global, Rane Holdings, Redington (India), Seamec, Shivalik Rasayan, Shyam Century Ferrous, Sintex Industries, Solara Active Pharma Sciences, Star Cement.

Fund View:

Cipla UBS Maintained ‘Buy’ with a price target of Rs 555. December quarter’s revenue was in line with estimates; margins impacted by inventory overheads. Cost focus and portfolio pruning to aid margins. See strategic re-alignment of U.S. specialty business; focus on RoCE-accretive assets.

SBI Life BofA Securities Initiated ‘Buy’ with a price target of Rs 1,116. Leading insurer with strong core business. Strong track record of steady market share gains. VNB margins to improve aided by strong fundamentals.

HPCL UBS Maintained ‘Buy’; cut price target to Rs 375 from Rs 415. Robust marketing continue to drive earnings. Lowering target price due to refining underperformance. Investors likely to appreciate stable earnings from integrated operations.
Indiabulls Housing Morgan Stanley Maintained ‘Underweight’ with a price target of Rs 210. December quarter results were below estimates driven by lower revenues but offset by lower expenses and provisions. Gross Stage 3 ratio moved higher, driven by higher developer delinquencies. Liability challenges continue; liquidity position see meaningful reduction on a sequential basis.

News Update:

Avenue Supermarts’ QIP opened on Feb. 5. The company is looking to raise Rs 3,998.08 crore from the issue of up to 2 crore shares. The SEBI-calculated floor price stands at Rs 1,999.04 per share, which is at a discount of 11 percent of the closing prices.
ITI has withdrawn its follow-on public offer due to prevailing market conditions.

Adani Gas expects Total SA deal to be closed in two weeks and the company is also mulling direct LNG imports when sales volume rise, according to Bloomberg report.

SBI said that it has completed the divestment of its entire 7.41 percemt stake in Equifax Credit Information Services for Rs 68 crore.

Kotak Mahindra Bank’s arm has completed the divestment of its entire 5.56 percent stake in Equifax Credit Information Services.

Prestige Estate Projects QIP Issue: Monetary Authority of Singapore allotted 11.2 lakh shares, Nomura Group allotted 26.84 lakh shares, HDFC MF allotted 6.71 lakh shares and BNP Paribas Group allotted 19.11 lakh shares. Allotment Price was at Rs 372.5 per share and the issue aggregated to Rs 462.64 crore.

Lupin received approval for Leflunomide tablets from the U.S. FDA to market a generic equivalent of Arava Tablets. The drug is used in the treatment of adults with active rheumatoid arthritis.

CreditAccess Grameen received No-Objection Certificate from RBI for its acquisition of 76.34 percent stake in Madura Micro Finance.

TCPL Packaging: Board to set up an arm for purpose of setting up and the implementation of the new manufacturing unit in Silvassa which will manufacture innovative films on a recently introduced technology that is being imported by the company from Germany. Initial capex for this project stands at Rs 35 crore.

Hindustan Aeronautics signed a memorandum of understanding with Israel’s Elbit Systems for assessing the feasibility of the joint development of a Vertical Take-off and Landing Unmanned Aerial Vehicle for maritime and land-based military operations.

 


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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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