Indian Market Outlook:

The Key benchmark indices fell over 1% over the week due to Global cues, rising cases of COVID-19, and the United States Federal Reserve’s subdued growth outlook of the US. It projected that the US economy will shrink 6.5% in 2020. The Nifty ending the week 1.67 percent lowers at 9973 points while Sensex ended 1.48 percent lower at 33781 points. The BSE Midcap index ended 0.37 percent higher, while the BSE Small cap index fell 0.08 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.17132 crore while the DIIs were the net sellers of Rs.400 crore. While the Nifty has ended lower this week, the sharp recovery from the lows on Friday indicates the bulls are not willing to give control to the bears. Going forward, Progression on containment of COVID-19 will be the key thing to watch. Given the uncertainties on both global and domestic front, focus should be on sectors and stocks which have strong revenue visibility and quality business franchises and avoid any stocks with weak fundamentals. On Macro front Industrial Production (YoY) of China and US for May and India’s WPI Inflation (YoY) data for May, amongst a host of data releases scheduled for next week. Key Results to watch next week are Ipca Lab, Navin fluorine, Pidilite Industries, IGL, JK Cement and LIC housing finance.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,737.60 2.92 14.35 16.44 27.55
Silver 17.58 0.06 20.99 -3.46 15.96
Platinum 820.40 -1.69 7.48 -16.87 1.12
USD/INR 76.05 0.65 2.99 7.43 9.63
Crude 36.48 -6.34 14.97 -39.27 -28.67

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Global Weekly Events

Date Region Event Description Forecast Previous
Jun 15,2020 CNY Industrial Production (YoY) (May) 5.0% 3.9%
Jun 15,2020 INR WPI Inflation (YoY) (May) -1.05% 1.00%
Jun 16,2020 USD Industrial Production (YoY) (May) -15.4%
Jun 17,2020 GBP CPI (YoY) (May) 0.5% 0.8%
Jun 17,2020 USD Crude Oil Inventories -1.738M 5.720M

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) 10360 21410
Import($ Million) 17120 31160
 Industry IIP -16.7% 4.6%

 

Domestic Indices Closing(12th June) Change %Change
BSE Sensex           33,780.89 -506.35 -1.48
Nifty 9,972.90 -169.25 -1.67
Mid Cap 12,600.15 45.99 0.37
Small Cap 11,845.27 -9.90 -0.08
Bank Nifty 20,654.55 -379.95 -1.81

 

Global Indices Closing(12th June) Change %Change
Dow Jones 25,605.54 -1,505.44 -5.55
Nasdaq 9,588.81 -225.27 -2.30
FTSE 6,105.18 -379.12 -5.85
Nikkei 22,305.48 -558.25 -2.44
Hang Seng 24,301.38 -469.03 -1.89
Shanghai Com 2,919.74 -11.06 -0.38

 

Net Inflow (Cr) FII DII
08-Jun-2020 813.27 -1,238.23
09-Jun-2020 490.81 -733.33
10-Jun-2020 -919.26 500.7
11-Jun-2020 -805.14 -874.35
12-Jun-2020 -1,311.49 1,945.15
Total -1731.81 -400.06

 

Top Gainers Closing Price Prev Close Chg (%)
Indusind Bank 528.45 422.35 25.12
Indiabulls hsg 153.45 130.25 17.81
M & M 508.45 484.20 5.01
Hero MotoCorp 2401.85 2340.65 2.61
Bajaj Finance 2450.15 2390.35 2.50

 

Top Losers Closing Price Prev Close Chg (%)
Zee Ent. 168.55 206.20 -18.26
Coal India 134.65 144.85 -7.04
UPL 411.65 439.40 -6.32
Tata Steel 317.60 338.95 -6.30
Wipro 207.90 218.75 -4.96

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Economic News:

  • India’s industrial output contracted the most in at least two decades in April after the world’s biggest lockdown to contain the new coronavirus pandemic froze economic activities. The Index of Industrial Production contracted 55.5% year-on-year in April, the most since at least 1996. That compares with a revised contraction of 18.3% in March. A Bloomberg poll of 31 economists had estimated a contraction of 45% in April. A majority of industrial sectors were not operating after the nationwide lockdown was imposed, effective March 25. As such it’s not appropriate to compare IIP of April 2020 with earlier months, it said. These estimates will undergo revision in subsequent releases.

 

  • India’s foreign exchange reserves rose $8.2 billion in the week of June 5 and has now crossed the milestone $500 billion mark for the first time in country’s history. The healthy surge in the forex kitty was largely on the back of capital raising rounds by Reliance and Kotak Mahindra as the foreign currency asset held by the Reserve Bank of India rose $8.4 billion and stood at a record $463 billion in the reporting week, data released by the central bank on Friday showed.

 Industry News:

  • The Department of Telecommunications (DoT) and the Ministry of Finance (MoF) should closely engage to make multiple options available to facilitate domestic manufacturing or Make in India in line with the ambitious Atmanirbhar Bharat (self-reliant) initiative, a top regulatory official said. “DoT should coordinate with the Ministry of Finance for making financing options available, in line with the practices followed by other export-oriented economies, to indigenous telecom equipment manufacturers,” the Telecom Regulatory Authority of India (Trai) chairman Ram Sewak Sharma told ET Telecom.

 

  • The country’s insurance regulator has directed all general and health insurers to offer a standard coronavirus cover by June. While the final details of the proposed cover are still in works, the Insurance Regulatory and Development Authority (IRDAI) has come up with draft guidelines. As per the terms devised by the regulator, the standard covid-19 cover will be a benefit-based product offering a 100% lump sum if a policyholder is tested positive and hospitalized. The minimum sum assured for the product will be Rs 50,000 and it can go upto a maximum of Rs 5 lakh.

 Company News:

 

  • Eicher Motors Ltd.’s quarterly profit fell as the nationwide lockdown that was imposed to contain the Covid-19 outbreak battered its already slowing sales. Net profit of the maker of Royal Enfield motorcycles fell 44% year-on-year to Rs 304.3 crore in the quarter ended March, according to an exchange filing. That compares with the Rs 408-crore consensus estimate of analysts tracked by Bloomberg.

 

  • Hindalco Industries Ltd. reported a sharp jump in profit in the quarter ended March but its revenue dropped. Standalone net profit rose 38% year-on-year to Rs 326 crore in the three-month period, the company said in a statement. This has been adjusted for impairment on financial assets amounting to Rs 22 crore. Revenue, however, fell 19.2% year-on-year to Rs 9,992 crore as sales of copper and aluminum declined during the period and the metals traded lower on the London Metal Exchange. The estimate for revenue was Rs 9,658.8 crore.

 

  • State Bank of India has filed an application in the National Company Law Tribunal to recover more than Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law. Anil Ambani had given personal guarantee to the loans given to Reliance Communications and Reliance Infratel. The tribunal, presided over by BSV Prakash Kumar, on Thursday gave Ambani a week to file reply to the application.

Global News:

 

  • Analysts expect an US unemployment rate of 13.4% in the second quarter, 2.7 percentage points lower than the prior month’s poll, according to median estimates in a Bloomberg survey conducted from June 5 to June 10. While the fourth-quarter projection came down by 0.8 point to 9.5%, the forecast for the end of 2021 was just 0.4 point lower, at 7%.

 

  • The U.K. economy shrank a record 20.4% in April as businesses and workers reeled under the lockdown designed to control the coronavirus pandemic. The contraction means the nation has effectively seen almost 18 years of growth wiped out in two months. While a rebound is likely as businesses start to reopen, the grim figures will increase the pressure on the government and Bank of England to do more to support the recovery.

   (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
REFEX 16-Jun-20 Right Issue of Equity Shares TATACONSUM 18-Jun-20 Final Dividend – Rs. – 2.70
AVANTEL 17-Jun-20 Final Dividend – Rs. – 2.00 HINDUNILVR 19-Jun-20 Final Dividend – Rs. – 14.00
RALLIS 17-Jun-20 Final Dividend – Rs. – 2.50 MOTOGENFIN 19-Jun-20 Stock  Split From Rs.10/- to Rs.5/-
SINCLAIR 17-Jun-20 Stock  Split From Rs.10/- to Rs.2/- SCHAEFFLER 19-Jun-20 Final Dividend – Rs. – 35.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
ACE Audited Results;General 15-Jun-20 NATCOPHARM Audited Results; Interim Dividend 17-Jun-20
ASHOKA Audited Results 15-Jun-20 NAVNETEDUL Audited Results 17-Jun-20
CANFINHOME A.G.M.;Audited Results;Dividend 15-Jun-20 PCPL Interim Dividend 17-Jun-20
CCL Audited Results 15-Jun-20 PECOS Audited Results;Half Yearly Results 17-Jun-20
CSBBANK Audited Results 15-Jun-20 PIDILITIND Audited Results;Final Dividend 17-Jun-20
ELECTCAST Audited Results;Final Dividend 15-Jun-20 QUINTEGRA Audited Results 17-Jun-20
JKTYRE Audited Results;Final Dividend 15-Jun-20 RAJPACK Audited Results;Dividend;General 17-Jun-20
LIKHAMI Audited Results 15-Jun-20 RBL Audited Results;Final Dividend 17-Jun-20
NATHBIOGEN A.G.M.;Audited Results 15-Jun-20 RECLTD Audited Results 17-Jun-20
NH Audited Results;General 15-Jun-20 RICOAUTO Audited Results;Dividend 17-Jun-20
PFIZER Audited Results;Final Dividend 15-Jun-20 SHREETULSI Audited Results;Quarterly Results 17-Jun-20
PRSNTIN Audited Results;Quarterly Results 15-Jun-20 SICAGEN Audited Results;Final Dividend 17-Jun-20
RAMKY Audited Results;General 15-Jun-20 TEXINFRA Audited Results;Final Dividend;General 17-Jun-20
SATIN Dividend on Pref. Shares;General 15-Jun-20 TEXRAIL Audited Results;Final Dividend;General 17-Jun-20
SHALBY Final Dividend;Quarterly Results 15-Jun-20 AMARDEE Audited Results 18-Jun-20
SRTRANSFIN General 15-Jun-20 AMRAAGRI Audited Results 18-Jun-20
TATAMOTORS Audited Results 15-Jun-20 AMRUTANJAN Audited Results 18-Jun-20
VIMTALABS Audited Results 15-Jun-20 BRIGADE Audited Results 18-Jun-20
VSSL Audited Results 15-Jun-20 CAPACITE Audited Results 18-Jun-20
BEPL A.G.M.; Results;Final Dividend 16-Jun-20 CAPPL Audited Results;Final Dividend 18-Jun-20
BRAHMINFRA General 16-Jun-20 CARERATING Audited Results;Final Dividend 18-Jun-20
CHEMCRUX Final Dividend;Half Yearly Results 16-Jun-20 CUB Audited Results 18-Jun-20
HINDPETRO Audited Results;Final Dividend 16-Jun-20 DELTA Audited Results 18-Jun-20
HITECHCORP Audited Results 16-Jun-20 DIVSHKT Audited Results;Final Dividend;General 18-Jun-20
INRADIA Audited Results 16-Jun-20 EMMBI Audited Results;Final Dividend 18-Jun-20
IPCALAB Audited Results 16-Jun-20 GAYATRI Audited Results 18-Jun-20
MAHABANK Audited Results 16-Jun-20 GSFC Audited Results;Final Dividend 18-Jun-20
MANALIPETC Audited Results;Dividend 16-Jun-20 GUJALKALI Audited Results;Dividend 18-Jun-20
MASFIN General 16-Jun-20 HIKAL Audited Results;Final Dividend 18-Jun-20
MENNPIS Audited Results;Quarterly Results 16-Jun-20 MAGMA Audited Results;Final Dividend 18-Jun-20
MORGANITE Results;Final Dividend;Stock  Split 16-Jun-20 MOIL Audited Results;Final Dividend 18-Jun-20
NATPLASTI Audited Results 16-Jun-20 ORIENTCQ Audited Results;Final Dividend 18-Jun-20
NAVINFLUOR Audited Results;Final Dividend 16-Jun-20 SHREEGANES Audited Results 18-Jun-20
NIBL A.G.M.;Audited Results 16-Jun-20 THERMAX Audited Results 18-Jun-20
NMDC Audited Results 16-Jun-20 TRIMURTHI Audited Results 18-Jun-20
RATNAMANI Audited Results 16-Jun-20 WHIRLPOOL Audited Results;Final Dividend 18-Jun-20
RLFL Audited Results 16-Jun-20 ANUHPHR Audited Results 19-Jun-20
AAVAS General 17-Jun-20 APMFINVEST Audited Results 19-Jun-20
ABAN Audited Results 17-Jun-20 ASTRON Audited Results 19-Jun-20
CLNINDIA A.G.M.;Results;Final Dividend 17-Jun-20 CENTURYPLY Audited Results;General 19-Jun-20
CUMMINSIND Audited Results;Final Dividend 17-Jun-20 KCP Audited Results 19-Jun-20
CYBERTECH Audited Results;Final Dividend 17-Jun-20 KIRLOSENG Audited Results 19-Jun-20
DIAMONDYD Audited Results;Dividend 17-Jun-20 LICHSGFIN Audited Results;Dividend;General 19-Jun-20
EMKAY Audited Results;Quarterly Results 17-Jun-20 OIL Audited Results 19-Jun-20
ESTER Audited Results;Dividend 17-Jun-20 PTC Audited Results;Final Dividend 19-Jun-20
FDC Audited Results;General 17-Jun-20 PUNJCOMMU Audited Results 19-Jun-20
FORTIS Audited Results;Quarterly Results 17-Jun-20 RAMCOCEM Audited Results 19-Jun-20
GOLDCORP Audited Results 17-Jun-20 RAMCOIND Audited Results 19-Jun-20
GULFOILLUB Final Dividend;General; Results 17-Jun-20 RAMCOSYS Audited Results;General 19-Jun-20
HEG Audited Results;Final Dividend 17-Jun-20 RANEENGINE Audited Results 19-Jun-20
IGL Audited Results;Final Dividend 17-Jun-20 SRDAPRT Audited Results 19-Jun-20
INDOSTAR Audited Results 17-Jun-20 UNICHEMLAB Audited Results;Dividend 19-Jun-20
ITDCEM Audited Results;Dividend 17-Jun-20 ZUARI Audited Results 19-Jun-20
JKCEMENT Audited Results;Dividend;General 17-Jun-20 CHANDRAP Audited Results;General 20-Jun-20
KANORICHEM Audited Results;Dividend 17-Jun-20 CONTROLPR Audited Results;Dividend 20-Jun-20
LINKPH Audited Results 17-Jun-20 KOVAI Audited Results 20-Jun-20
LPNAVAL Audited Results;Half Yearly Results 17-Jun-20 MHEL General 20-Jun-20
MANGLMCEM Audited Results 17-Jun-20 TRANSCOR Audited Results;General 20-Jun-20
MOLDTEK Audited Results;Final Dividend 17-Jun-20 UTTAMSUGAR Audited Results;Quarterly Results 20-Jun-20
MUTHOOTFIN Audited Results 17-Jun-20 VRLLOG Audited Results;Quarterly Results 20-Jun-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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