International Markets:

U.S & Europe

Particulars 6th  Jan Chg Chg(%)
Nasdaq 9071.46 50.69 0.56
Dow* 28703.38 68.50 0.24
FTSE 7575.34 -47.06 -0.62
CAC 6013.59 -30.57 -0.51
DAX 13126.99 -92.15 -0.70
Dow Fut.* 28693.50 51.50 0.18

*As per 7th Jan

Asian markets:

Particulars 7th   Jan. Chg Chg(%)
SGX Nifty* 12118.50 70.00 0.58
Nikkei 23545.03 340.17 1.47
Straits Times 3241.32 22.46 0.70
Hang Seng 28434.05 207.86 0.74
Shanghai 3094.54 11.13 0.36

 

ADR Watch:  

Particulars 6th Jan. Chg Chg(%)
Dr Reddy 40.06 -0.20 -0.50
HDFC Bank 60.91 -1.10 -1.77
ICICI Bank 14.72 -0.20 -1.34
Infosys 10.21 -0.15 -1.14
Tata Motor 13.03 -0.15 -1.14
Wipro 3.85 0.06 1.58

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.867 0.00
Brent 68.42 -0.71
Gold 1559.45 -0.60
Silver 18.017 -0.89

 

FIIs & DIIs

Particulars 6rd   Jan. 3rd   Jan.
FIIs -103.84 1263.05
DIIs -23.70 -1029.20

 

View on market: Buy on dips

Asian stocks rebounded as the risk-off mood sparked by geopolitical tensions in the Middle East ebbed. Shares rose in Tokyo, Sydney and Seoul. Hong Kong futures tipped a firmer open. U.S. equity futures were flat. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, rose 0.56 percent to 12,116 as of 7:06 a.m.

Key Data/ Action and Board meeting to watch:

Balrampur Chini Mills to meet Kotak Institutional Equities on Jan. 7.

Shriram City Union Finance to meet GoDigit General Insurance on Jan. 7.

Fund View:

Reliance Industries BofAML Maintained ‘Buy’ with a price target of Rs 1,700. Jio-Mart is RIL’s first phase of new commerce initiative. Jio-Mart provides end-to-end offering, but not without challenges. New commerce still a 2-3 year project; core retail strong.

Crompton Consumer JPMorgan Maintained ‘Neutral’ with a price target of Rs 270. Lighting: revenue challenges persist; profitability improvement in focus. Fans: premiumisation and market share gain led growth strategy in place; new energy rating norms to aid. Looking for strategic M&A opportunities at reasonable valuations.

India Infrastructure HSBC The government task force identifies $1.4 trillion in spending and reforms over the next five years. The report cannot solve execution-related problems, but having a plan is a step in the right direction. L&T appears best positioned to benefit from NIP drive for infrastructure investment. L&T: Maintained ‘Buy’ with a price target of Rs 1,790. ABB India: Maintained ‘Hold’; cut price target to Rs 1,125 from Rs 1,411.

News Update:

HDFC Bank Q3 Update: Advances were up 20 percent year-on-year to Rs 9,34,000 crore . Deposits rose 25 percent year-on-year to Rs 10,67,500 crore. CASA Ratio was at 39.5 percent versus 40.7 percent. During the quarter, the Bank purchased loans aggregating to Rs 4,258 crore through direct assignment route under home loan arrangement with HDFC.

PI Industries said that factory accident happened in one section of a multi-product plant at Jambusar fine chemicals manufacturing site in Gujarat has resulted in two fatalities and nine persons being injured. The impact of the incident is being ascertained, damaged equipment is fully covered by insurance, according to the company’s media statement.

Tata Group: Supreme Court has set Jan. 10 as the hearing date for Tata Sons petition, according to Bloomberg report.
Sagar Cements: December sales fell 4.33 percent to 3,12,132 units.

Mishra Dhatu Nigam dispatched the first consignment for high strength steel and cobalt alloys to Indian Space Research Organisation.

Aster DM Healthcare will consider share buyback on Jan. 9.

Reliance Home Finance said that total amounts of default from loans from financial institutions stood at Rs 982.18 crore on Dec. 31. Total financial indebtedness stood at Rs 11,891.24 crore.

Canara Bank: Repo rate linked lending rate for Retail and MSME loans at 8.05 percent with effect from Jan. 7. Base Rate will be 9.1 percent and one-year MCLR at 8.35 percent.

Bank of Maharashtra reduced MCLR and Base Rate across various tenors with effect from Jan. 7. One-year MCLR was at 8.25 percent and Base Rate was at 9.4 percent.

Container Corporation of India has incorporated its wholly-owned arm CONCOR Last Mile Logistics, to develop goods sheds, operate and manage freight terminals/ goods sheds, develop warehouses etc.

IL&FS defaulted in payment of interest on Loan worth Rs 33.5 crore on which was due on Jan. 1. IL&FS Realty Fund has terminated its management pact with IL&FS Investment Advisors.

TCI Finance defaulted in payment of principal and interest amounting to Rs 60 lakh of a term loan from HDFC.

Zenith Birla entered into a one-time settlement with Oriental Bank of Commerce against credit facilities by the company.

Ajmera Realty & Infra will consider the proposal of internal restructuring on Jan. 10.

Morepen Laboratories defaulted in payment of interest and principal of compulsory redeemable preference shares worth Rs 33.4 crore to J&K Bank, UTI Bank, Oriental Bank of Commerce, General Insurance Corporation, Oriental Insurance and Kuoni Travel. Preference shares could not be redeemed on respective due dates as the company had accumulated losses.

Rail Vikas Nigam: Ministry of Railways has conveyed the conceptual framework to introduce competition among public sector undertakings for awarding Railway work.

Biocon has appointed MB Chinappa as the chief financial officer of Biocon Biologics.

 


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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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