Indian Market Outlook:

The Key benchmark indices rose over 1% over the week. The markets continued their range-bound movements as the increasing COVID cases worldwide kept markets on edge. Surging to a new 52-week high Reliance Industries Ltd shares helped the index recoup some losses. The Nifty ended the week 1.51 percent higher at 10768 points while Sensex ended 1.59 percent higher at 36594 points. The mixed performance was seen from the broader market space. The BSE Midcap index ended 0.81 percent higher, while the BSE Small cap index rose 1.59 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.635 crore while the DIIs were the net sellers of Rs 2609 crore. The bank nifty index, which had been rising mutedly until now, has outperformed the benchmark index in the week gone by. The concern related to rising COVID-19 cases in India and aboard is still lingering, and that, in turn, affecting the pace of economic activities. Going forward, the earnings season would be of key significance as it faced the maximum brunt of lockdown. Management commentary would be keenly watched out for and could keep the markets volatile in the near-term. On Macro front CPI (YoY) (Jun) and WPI Inflation (YoY) (Jun) of India are key data releases scheduled for next week. Key Earnings to watch next week are HCL Technology, HDFC Bank, Bandhan Bank and M & M Financial.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,801.55 0.78 6.39 13.96 25.71
Silver 19.07 4.15 31.25 6.00 22.40
Platinum 841.50 1.90 16.12 -16.60 0.45
USD/INR 75.19 0.74 -1.03 4.62 9.15
Crude 40.56 0.70 55.52 -35.89 -27.89

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Global Weekly Events

Date Region Event Description Forecast Previous
Jul 13,2020 INR CPI (YoY) (Jun) 5.30% 5.84%
Jul 14,2020 GBP Manufacturing Production (MoM) 8.0% -24.3
Jul 14,2020 INR WPI Inflation (YoY) (Jun) -2.40% -3.21%
Jul 15,2020 USD Crude Oil Inventories -3.114M 5.654M
Jul 16,2020 CNY GDP (YoY) (Q2) 2.1% -6.8%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.40%
Reserve Policy Rate 3.25% 3.75%
  Bank Rate 4.25% 4.65%
 Reserve Ratio CRR 3% 4%
SLR 18.00% 18.25%
 Inflation Rate Wholesale Price Index 0.00% 1.00%
  Consumer Price Index 5.68% 5.91%
 Trade Data Export ($ Million) 19050 10360
Import($ Million) 22200 17120
 Industry IIP -34.7% -57.6%

 

Domestic Indices Closing(10th July) Change %Change
BSE Sensex           36,594.33 572.91 1.59
Nifty 10,768.05 160.70 1.51
Mid Cap 13,396.83 108.13 0.81
Small Cap 12,803.78 200.76 1.59
Bank Nifty 22,398.45 545.95 2.50

 

Global Indices Closing(10th July) Change %Change
Dow Jones 26,075.30 247.94 0.96
Nasdaq 10,617.44 409.81 4.01
FTSE 6,095.41 -61.89 -1.01
Nikkei 22,290.81 -15.67 -0.07
Hang Seng 25,727.41 354.29 1.40
Shanghai Com 3,383.32 230.51 7.31

 

Net Inflow (Cr) FII DII
06-Jul-2020 348.35 263.47
07-Jul-2020 829.9 -784.47
08-Jul-2020 -994.87 -853.41
09-Jul-2020 212.77 -803.39
10-Jul-2020 -1,031.00 -431.21
Total -634.85 -2609.01

 

Top Gainers Closing Price Prev Close Chg (%)
Bajaj Finance 3314.15 2931.50 13.05
Hindalco 163.70 146.40 11.82
Indusind Bank 539.25 487.20 10.68
SBI 195.60 184.70 5.90
Bajaj Finserv 6483.80 6149.40 5.44

 

Top Losers Closing Price Prev Close Chg (%)
Bharti Infratel 209.50 226.70 -7.79
Adani Ports 334.95 360.40 -7.06
ITC 194.30 207.55 -6.36
ONGC 78.55 82.40 -4.67
NTPC 90.40 94.50 -4.34

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Economic News:

  • India’s industrial output continued to contract sharply over a year ago, even though it showed a marginal pick up over the month of April, when the nation went into a near complete lockdown. The Index of Industrial Production contracted by 34.7% in May over last year, compared to a revised contraction of 57.6% in April. Twenty eight economists polled by Bloomberg had forecast May IIP contraction at 37.8%. Like in April, the government refrained from providing the year-on-year change and only released index numbers. As such, the change in industrial output and its components has been computed by BloombergQuint using index data for May 2019 and May 2020.

 

  • Pitching for more fiscal support to revive the economy, Hero Enterprises Chairman Sunil Kant Munjal on Friday said the overall recovery in the economy may take 2-3 years even as some sectors could see a quicker recovery. “The overall recovery in the economy will take between 2-3 years. But, we will see sectors come up very quickly. Some important sectors with large multiplier and large potential for employment, which are still struggling, and without support, they will actually not be able to fully recover in this time,” Munjal said.

 Industry News:

  • RBI Governor Shaktikanta Das today said banks and NBFCs have to improve governance, sharpen skill management and raise capital on a proactive basis to deal with the impact of coronavirus in the financial system. While speaking at the SBI Conclave, the RBI Governor in his keynote address said that ‘building buffers and raising capital’ will be very crucial not only to ensure credit flow but also to build resilience in the financial system. RBI had earlier advised banks and NBFCs to undertake COVID stress tests to analyse the balance sheet impact in areas like liquidity, asset quality, profitability and capital adequacy for the years 2020-21 and 2021-22.

 

  • In Sales of CNG vehicles are projected to shoot up in strong double-digits in the current financial year on lower running costs and wider availability of the fuel, even as rising petrol and diesel prices hurt demand amid weak market sentiment. Maruti SuzukiNSE -0.78 % expects sales of CNG vehicles to grow 36% to 144,000 units in FY21. The company has eight CNG-powered vehicles in its portfolio and plans to make the option available on all small cars. South Korean rival Hyundai plans to launch the fuel option in the Hyundai XCent sedan later this year, targeting customers especially in the fleet segment. Between them, Maruti Suzuki and Hyundai sell about a dozen factory-fitted CNG models.

 Company News:

  • In what seems to be a landmark move, Indian company Biocon got approval from the Drug Controller General of India on Friday to use Itolizumab on COVID patients. It is a drug that the company already has in the market and is used to treat patients with psoriasis, a debilitating skin ailment. The linknode between the two ailments – psoriasis and COVID – being the drug’s ability to tone down the aggressive and self-damaging response of the body’s immune system. In COVID, as the virus multiples and progresses within the body, the immune system of the body starts to overreact. This is called the cytokine storm in medical lingo but a term that has now entered common parlance.

 

  • SAIL has earned a net profit of Rs 2,021.54 crore in FY’20 on a turnover of Rs 61,024.88 crore. The net profit for the year was a shade below the previous year’s figure of Rs 2179 crore. The company also reported a Profit Before Tax (PBT) of Rs 3,170.66 crore in spite of the challenging market conditions including the onset of the coronavirus pandemic, an official statement said. SAIL said EBITDA per tonne of Saleable Steel improved from Rs 7,284 in FY19 to Rs 7,869 FY20.

 

  • In Jio Platforms has received subscription amounts, totalling Rs. 30,062.43 crore, for a 6.3% stake sale to L Catterton, PIF, Silver Lake, and General Atlantic Singapore. On Tuesday, Facebook Inc-owned Jaadhu Holdings LLC paid the subscription amount of 43,574 crore to Jio Platforms Ltd for a 9.99% stake in the latter.

Global News:

  • President Donald Trump said a phase two trade deal with China isn’t under consideration, saying the relationship between Washington and Beijing has deteriorated too much. “I don’t think about that,” Trump said Friday when asked about the possibility of a second round of trade agreements with China. “The relationship with China has been severely damaged.”

 

  • The race is on to lead the World Trade Organization out of the worst crisis of its 25-year existence. In the coming months delegates from the WTO’s 164 members will select from a roster of eight candidates to become the seventh director-general of the Geneva-based trade body. The window for nominations closed Wednesday. The current chief, Roberto Azevedo, is stepping down on Aug. 31 — a year before his second four-year term expires. His successor will have a number of formidable tasks.

(Source: Bloomberg Quint, Economic Times, Business Today, Business Standard, Financial Express, Investing, Moneycontrol, livemint)

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name      Ex-Date Purpose
DRREDDY 13-Jul-20 Final Dividend – Rs. – 25.00 BBTC 16-Jul-20 Dividend – Rs. – 1.20
ELANTAS 13-Jul-20 Final Dividend – Rs. – 5.00 CLNINDIA 16-Jul-20 Special Dividend
TATAELXSI 13-Jul-20 Final Dividend – Rs. – 16.50 COROMANDEL 16-Jul-20 Final Dividend – Rs. – 12.00
WIREFABR 13-Jul-20 Final Dividend – Rs. – 0.10 GRINDWELL 16-Jul-20 Dividend – Rs. – 7.50
INFRATRUST 14-Jul-20 Income Distribution (InvIT) IRB 16-Jul-20 Final Dividend – Rs. – 5.00
KUANTUM 14-Jul-20 Stock  Split From Rs.10/- to Rs.1/- LAXMIMACH 16-Jul-20 Dividend – Rs. – 10.00
SKFINDIA 14-Jul-20 Special Dividend – Rs. – 130.00 M&M 16-Jul-20 Dividend – Rs. – 2.3500
TATAPOWER 14-Jul-20 Dividend – Rs. – 1.5500 PEL 16-Jul-20 Final Dividend – Rs. – 14.00
ACGL 15-Jul-20 Final Dividend – Rs. – 5.00 TASTYBIT 16-Jul-20 Final Dividend – Rs. – 2.00
PETRONET 15-Jul-20 Final Dividend – Rs. – 7.00 TCS 16-Jul-20 Interim Dividend – Rs. – 5.00
SUYOG 15-Jul-20 Interim Dividend – Rs. – 0.50 GLAXO 17-Jul-20 Final Dividend – Rs. – 20.00
WENDT 15-Jul-20 Final Dividend – Rs. – 25.00 GLAXO 17-Jul-20 Special Dividend – Rs. – 20.00
ABB 16-Jul-20 Dividend – Rs. – 4.80 INDHOTEL 17-Jul-20 Final Dividend – Rs. – 0.50
ASTEC 16-Jul-20 Final Dividend – Rs. – 1.50 SRIPIPES 17-Jul-20 Dividend – Rs. – 7.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
5PAISA Quarterly Results 13-Jul-20 OCTAVE Audited Results 15-Jul-20
ANUPAM Audited Results 13-Jul-20 PARKERAC Audited Results 15-Jul-20
CUB A.G.M.;General 13-Jul-20 POOJA Audited Results;Half Yearly Results 15-Jul-20
DFL General 13-Jul-20 PYXISFIN Half Yearly Results 15-Jul-20
ELAND Audited Results 13-Jul-20 QUANTBUILD General 15-Jul-20
GKP General 13-Jul-20 RDBRIL Audited Results 15-Jul-20
INDIAHOME Audited Results;Dividend 13-Jul-20 REGENCERAM Audited Results;Quarterly Results 15-Jul-20
PANTH Audited Results 13-Jul-20 ROLTA Audited Results 15-Jul-20
PRECISION Quarterly Results 13-Jul-20 ROXY Audited Results 15-Jul-20
YASHRAJC A.G.M.;General 13-Jul-20 SAENTER Audited Results 15-Jul-20
AGIOPAPER Audited Results 14-Jul-20 SALSAIN Audited Results;Quarterly Results 15-Jul-20
ALPHA Quarterly Results 14-Jul-20 SARTHAKGL Audited Results;General 15-Jul-20
AMINTAN Audited Results 14-Jul-20 SBIN General 15-Jul-20
BVCL Audited Results;Quarterly Results 14-Jul-20 SETUINFRA Audited Results 15-Jul-20
CENTURYTEX Quarterly Results 14-Jul-20 SIGNETIND Audited Results;Dividend 15-Jul-20
DDIL Audited Results 14-Jul-20 SIMRAN Audited Results 15-Jul-20
DELTACORP* Quarterly Results 14-Jul-20 SINDUVA Audited Results;Quarterly Results 15-Jul-20
FCL Audited Results;General 14-Jul-20 SIPTL Audited Results 15-Jul-20
GUJHOTE Quarterly Results 14-Jul-20 SOUTLAT Audited Results 15-Jul-20
HATHWAYB Quarterly Results 14-Jul-20 TIGERLOGS Audited Results;General 15-Jul-20
HINDCOPPER Audited Results 14-Jul-20 UTTAMSTL Quarterly Results 15-Jul-20
JDORGOCHEM Audited Results 14-Jul-20 YASTF Audited Results 15-Jul-20
JOONKTOLL Results;Right Issue;General 14-Jul-20 ZLEENCON Audited Results 15-Jul-20
KHADIM Audited Results 14-Jul-20 ARCHITORG Audited Results 16-Jul-20
KHAITANLTD Audited Results;General 14-Jul-20 BAJAJCON Quarterly Results 16-Jul-20
MANAKSIA Audited Results 14-Jul-20 BIRLAMONEY Quarterly Results 16-Jul-20
MINDTREE Quarterly Results 14-Jul-20 CCLINTER Audited Results 16-Jul-20
REGENTRP Audited Results 14-Jul-20 CYIENT Quarterly Results 16-Jul-20
RIIL Quarterly Results 14-Jul-20 ECSTSTL Quarterly Results 16-Jul-20
RRIL Audited Results;Quarterly Results 14-Jul-20 INDOKEM Audited Results 16-Jul-20
SKYLMILAR Audited Results 14-Jul-20 KATRSPG Audited Results 16-Jul-20
SMARTLINK Audited Results 14-Jul-20 KAVITIND Audited Results 16-Jul-20
SUPRAP Increase in Authorised Capital 14-Jul-20 L&TFH Quarterly Results 16-Jul-20
UPASAFN General 14-Jul-20 LTTS Quarterly Results 16-Jul-20
VASCONEQ Employees Stock Option Plan 14-Jul-20 NATHUEC Audited Results 16-Jul-20
VASINFRA A.G.M.;General 14-Jul-20 NETLINK Quarterly Results 16-Jul-20
WIPRO Quarterly Results 14-Jul-20 ONWARDTEC Quarterly Results 16-Jul-20
ZMILGFIN Audited Results 14-Jul-20 OZONEWORLD Quarterly Results 16-Jul-20
ADVMULT General;Quarterly Results 15-Jul-20 PARMSILK Audited Results 16-Jul-20
AMFL Audited Results 15-Jul-20 PURSHOTTAM Quarterly Results 16-Jul-20
AMRAFIN Half Yearly Results 15-Jul-20 REFNOL Audited Results;General 16-Jul-20
ANDREWYU Audited Results;Final Dividend 15-Jul-20 SAGARPROD General 16-Jul-20
ARIHANTINS Audited Results 15-Jul-20 SUGALDAM Audited Results 16-Jul-20
AVONMERC Quarterly Results 15-Jul-20 TFCILTD General 16-Jul-20
BANDHANBNK Quarterly Results 15-Jul-20 VLSFINANCE Audited Results;Dividend 16-Jul-20
BARTRONICS Audited Results 15-Jul-20 AMAL General;Quarterly Results 17-Jul-20
CATECH Audited Results 15-Jul-20 ARCHIES Audited Results;Quarterly Results 17-Jul-20
DJSSS Audited Results 15-Jul-20 BALKRISHNA Audited Results 17-Jul-20
EMERALD Audited Results 15-Jul-20 BANCOINDIA A.G.M.;General;Quarterly Results 17-Jul-20
FEDERALBNK Quarterly Results 15-Jul-20 BRITANNIA Quarterly Results 17-Jul-20
FILTRA Audited Results 15-Jul-20 CANFINHOME General 17-Jul-20
GIRDSGA Audited Results 15-Jul-20 CHENFERRO Audited Results 17-Jul-20
GOODLUCK Audited Results;Final Dividend 15-Jul-20 COFFEEDAY Quarterly Results 17-Jul-20
GTPL Quarterly Results 15-Jul-20 CYBERSC Audited Results 17-Jul-20
INFY Audited Results 15-Jul-20 GITARENEW Audited Results 17-Jul-20
INVENTURE Audited Results;General 15-Jul-20 GNA Quarterly Results 17-Jul-20
JAYSYN Audited Results;Dividend 15-Jul-20 GRANULES Interim Dividend;Quarterly Results 17-Jul-20
KAVVERITEL Audited Results;Quarterly Results 15-Jul-20 GRAUWEIL A.G.M.; Results;Final Dividend;General 17-Jul-20
KCDGROUP Audited Results 15-Jul-20 HATHWAY Quarterly Results 17-Jul-20
KENFIN Audited Results 15-Jul-20 HCLTECH Interim Dividend;Quarterly Results 17-Jul-20
KJMCFIN General;Quarterly Results 15-Jul-20 ICICIGI Quarterly Results 17-Jul-20
LTI Quarterly Results 15-Jul-20 VISHWARAJ A.G.M. 17-Jul-20
MANAKSTELTD Audited Results 15-Jul-20 AANANDALAK Audited Results 18-Jul-20
MARBU Audited Results 15-Jul-20 HDFCBANK Quarterly Results 18-Jul-20
MERCATOR Audited Results 15-Jul-20 IMFA Audited Results;Quarterly Results 18-Jul-20
MINDACORP Final Dividend;Quarterly Results 15-Jul-20 LADDERUP Audited Results 18-Jul-20
NECCLTD Audited Results 15-Jul-20 M&MFIN Quarterly Results 18-Jul-20
NEOINFRA Audited Results;Quarterly Results 15-Jul-20 MAL Audited Results 18-Jul-20
NETTLINX Audited Results;General 15-Jul-20 MUTHOOTFIN General;Stock  Split 18-Jul-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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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