International Markets:

U.S & Europe

Particulars 6th Feb Chg Chg(%)
Nasdaq 9572.15 63.47 0.67
Dow 29379.77 88.92 0.30
FTSE 7504.79 22.31 0.30
CAC 6038.18 52.78 0.88
DAX 13574.82 96.49 0.72
Dow Fut.* 29276.00 -52.00 -0.18

*As per 7th feb

Asian markets:

Particulars 7th Feb. Chg Chg(%)
SGX Nifty* 12127.00 -2.50 -0.02
Nikkei 23831.04 -42.55 -0.18
Straits Times 3211.87 -19.68 -0.61
Hang Seng 27304.47 -189.23 -0.69
Shanghai 2851.13 -15.38 -0.54

 

ADR Watch:

Particulars 6th  Feb Chg Chg(%)
Dr Reddy 44.82 0.32 0.72
HDFC Bank 59.58 0.60 1.02
ICICI Bank 15.04 -0.01 -0.07
Infosys 10.96 -0.08 -0.72
Tata Motor 12.36 -0.28 -2.22
Wipro 3.75 0.01 0.27

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 71.1975 -0.02
Brent 55.31 +0.69
Gold 1570.35 0.03
Silver 17.797 -0.12

 

FIIs & DIIs

Particulars 6th Feb. 5th Feb.
FIIs -560.36 +248.94
DIIs +304.01 +262.75

 

View on market: Buy on dips

Asian stocks were mixed at the open on today to cap off what’s been the best week since January 2019. Japanese stocks were little changed in early trading, while Australian ones dipped. Contracts on the S&P 500 were flat. The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.02 percent to 12,127.00 as of 7:50 a.m.

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

Britannia Industries, NTPC, UPL, Tata Steel, Voltas, Whirlpool, Oberoi Realty, NCC, Nesco, ,NHPC, INOX Leisure, Abbott, ACC, Alkem Laboratories, Varun Beverages, Venky’s, Visaka Industries, Som Distilleries & Breweries, Care Finance Holdings, Symphony, India Cements, New India Assurance, Hi-Tech Gears, Themis Medicare, TV Today Network, JSW Holdings, Kolte – Patil Developers, Linc Pen & Plastics, Madras Fertilizers, Entertainment Network (India), Essel Propack, Insecticides, SML Isuzu, Excel Industries, PSP Projects, Repco Home Finance, S H Kelkar and Company, Sintex Plastics Technology., KEC International., Procter & Gamble Health, Mahanagar Gas.

Fund View:

Lupin Edelweiss Maintained ‘Buy’ with a price target of Rs 900. Decent revenue growth; margin subdued. Cut EPS estimates by 10 percent for the current and the next financial year on muted results, lower Ebitda margin guidance and impact from Kyowa divestment. Specialty, respiratory and biosimilar launches key to revival.

NMDC Emkay Maintained ‘Buy’; cut price target to Rs 140 from Rs 145. Strong and in-line results. Start of 3 MT steel plant in H2FY21 can trigger earnings upside Hike EPS estimates for the current and the next wo financial years by 4.3 percent, 7.2 percent and 6 percent respectively on moderating iron ore ASP, higher dividend and lower taxes.

IGL UBS Maintained ‘Sell’; hiked price target to Rs 370 from Rs 340. Increase near-term earnings estimates due to expansion in margins. Margin to expand from non-pass through of lower domestic gas and spot LNG prices. Higher margins and strong volume growth look priced in.

Sun Pharma HSBC Maintained ‘Hold’ with a price target of Rs 440. December quarter results operationally in line. See gradual pickup in global sales of specialty drugs. Execution of specialty launches remains key for sustainable earnings growth.

Eicher Motors:Morgan Stanley Maintained ‘Equal-weight’ with a price target of Rs 17,052. December quarter results were in line. Demand pickup remains elusive, but percentage increase in costs from BS VI is lower than peers. New platform launch could help demand growth.

News Update:

Coffee Day Enterprises clarified that its arm Coffee Day Global has mandated Deloitte only for the limited purpose of Vendor Due Diligence with respect to proposed stake sale and not for conducting any forensic audit of the vendors and it has not defaulted on a debt of Rs 489 crore.

Tata Teleservices (Maharashtra): Department of Telecommunications approved a demerger of the company’s consumer mobile business into Bharti Airtel.

Sundaram Finance completed the sale of its entire 10 percent stake in Equifax for Rs 92 crore to EFX Holdings.

Adani Enterprises’ arm signed a memorandum of understanding with Airbus to explore opportunities for collaboration in the area of aircraft services for the Indian and South Asian markets.

Wipro won a multi-year strategic IT deal from Marelli, which is a global Tier-1 automotive technology supplier.

EID-Parry: The board has approved a capacity expansion of Sugar and Cogeneration at Haliyal Unit at an estimated investment of Rs 99 crore.

Mahindra & Mahindra: The European Union has cleared Ardour Automotive-Mahindra & Mahindra-Ford Deal.

BSNL, MTNL won’t be closed, efforts being made to revive them said telecom minister Ravi Shankar Prasad.

Karur Vyasa Bank revised MCLR across various tenors with effect from Feb. 7. One Month-MCLR at 8.4 percent and One-Year MCLR at 9.4 percent.

IDFC: Board approved the merger of IDFC Alternatives IDFC Trustee Company and IDFC Projects with the company.

Andhra Petrochemicals: Company’s plant will not be in operation from Feb. 7 due to annual maintenance work.

Spencer’s Retail to consider raising funds on Feb. 11.

 


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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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