Indian Market Outlook:
The Key benchmark indices on the BSE and NSE staged their sharpest single-day recovery after they hit a lower circuit of 10 per cent on Friday morning. The S&P BSE Sensex surged 1,325.34 points or 4.04 per cent while the Nifty 50 climbed 365.05 points or 3.81. However the Key benchmark indices fell over 9 percent over the week with the Global markets sell off after the WHO declared the Coronavirus outbreak a ‘pandemic’. The Sensex fell 3473.14 points or 9.24 % to settle at 34103.48 .The Nifty 50 index fell 1034.25 points or 9.41 % to settle at 9955.20. BSE Mid Cap Index fell 1588.75 points or 11.17 % to settle at 12638.74 while the BSE small Cap index fell 11.77 % to settle at 11761.22. The fall was also because of FIIs selling in Indian Market, FIIs were the net sellers for the week, sell equities worth Rs.19613.81 crore over the week while DIIs were the net buyers of Rs.17596.40 crore. The recovery on Friday trading session giving some kind of positive confidence to market however volatility in market will remain high due to increasing cases of coronavirus and its impact on world GDP growth therefore one must focus on quality stocks. The Central government on Saturday approved the reconstruction scheme for crisis-hit Yes Bank and stated that moratorium on the reconstructed bank shall cease to have effect on the third working day at 18:00 hours from the date of commencement of this Scheme. On the Macro front WPI Inflation (YoY) (Feb) will be announced on 16th March, 2020. Globally fixed income instrument are very volatile so market will closely watch every news or announcement which can impact various asset classes.
Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1,529.10 | -8.68 | 2.89 | 0.36 | 17.96 | |||||
| Silver | 14.69 | -15.28 | -13.49 | -16.86 | -5.83 | |||||
| Platinum | 763.30 | -15.60 | -17.80 | -14.66 | -8.69 | |||||
| USD/INR | 73.84 | -0.22 | 4.13 | 3.16 | 6.06 | |||||
| Crude | 32.97 | -20.76 | -45.24 | -47.58 | -42.03 | |||||
Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| March 16,2020 | INR | WPI Inflation (YoY) (Feb) | 2.65% | 3.10% |
| March 17,2020 | GBP | Unemployment Rate (Jan) | 3.8% | 3.8% |
| March 17,2020 | USD | Retail Sales (MoM) (Feb) | 0.2% | 0.3% |
| March 18,2020 | USD | Crude Oil Inventories | 2.266M | 7.664M |
| March 20,2020 | INR | Existing Home Sales (Feb) | 5.50M | 5.46M |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 5.15% | 5.15% |
| Reserve Policy Rate | 4.90% | 4.90% | |
| Bank Rate | 5.40% | 5.40% | |
| Reserve Ratio | CRR | 4% | 4% |
| SLR | 18.25% | 18.50% | |
| Inflation Rate | Wholesale Price Index | 3.10% | 2.59% |
| Consumer Price Index | 6.58% | 7.59% | |
| Trade Data | Export ($ Million) | 25970 | 27360 |
| Import($ Million) | 41140 | 38610 | |
| Industry | IIP | 2% | 0.07% |
| Domestic Indices | Closing(13th Mar) | Change | %Change |
| BSE Sensex | 34,103.48 | -3,473.14 | -9.24 |
| Nifty | 9,955.20 | -1,034.25 | -9.41 |
| Mid Cap | 12,638.74 | -1,588.75 | -11.17 |
| Small Cap | 11,761.22 | -1,568.56 | -11.77 |
| Bank Nifty | 25,166.45 | -2,635.00 | -9.48 |
| Global Indices | Closing(13th Mar) | Change | %Change |
| Dow Jones | 23,185.62 | -2,679.16 | -10.36 |
| Nasdaq | 7,874.88 | -700.74 | -8.17 |
| FTSE | 5,366.11 | -1,096.44 | -16.97 |
| Nikkei | 17,431.05 | -3,318.70 | -15.99 |
| Hang Seng | 24,032.91 | -2,113.76 | -8.08 |
| Shanghai Com | 2,887.43 | -147.08 | -4.85 |
| Net Inflow (Cr) | FII | DII |
| 09-Mar-2020 | -6,595.56 | 4,974.80 |
| 11-Mar-2020 | -3,515.38 | 2,835.46 |
| 12-Mar-2020 | -3,475.29 | 3,918.24 |
| 13-Mar-2020 | -6,027.58 | 5,867.90 |
| Total | -19,613.81 | 17,596.40 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| Bharti Infratel | 227.25 | 214.70 | 5.85% |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| Indiabulls Hsg | 163.60 | 285.45 | -42.69 |
| Yes Bank | 25.55 | 36.80 | -30.57 |
| ONGC | 65.90 | 92.60 | -28.83 |
| Tata Motors | 89.75 | 125.75 | -28.63 |
| Vedanta | 84.05 | 117.10 | -28.22 |
Economic News:
- India’s industrial production rebounded after a month of contraction even as the economy faces fresh headwinds from the coronavirus outbreak. The Index of Industrial Production rose 2 percent in January over a year earlier. Factory output growth for December was revised to 0.7 percent from a contraction of 0.3 percent earlier. Manufacturing output growth stood at 1.5 percent in January compared with a contraction of 1.2 percent in December. Mining output grew 4.4 percent compared with 5.4 percent in the previous month. Electricity generation rose 3.1 percent after a contraction of 0.1 percent in December.
- Retail inflation eased for the first time in seven months as prices of vegetables rose at a slower pace. The Consumer Price Index-based inflation stood at 6.58 percent in February compared with 7.59 percent in the preceding month, according to data released by the Ministry of Statistics and Program Implementation on Thursday. That was aided by a cooling off in inflation in food and beverages to 9.45 percent against 11.79 percent in January, led by a modest rise in prices of vegetables. Vegetable prices increased 31.61 percent compared with 50.19 percent in January.
Industry News:
- For the very first time, department of telecommunications (DoT) in a written reply to parliament has said it will reassess documents submitted by telecom companies as per licence agreement and accordingly it will issue revised demand notices. “The telecom service providers (TSPs) have been directed to make payments on the basis of self-assessment and submit requisite documents for compliance. Following this, DoT will carry out reassessments on the basis of documents submitted by the telecom service providers in accordance with the license agreement and issue revised demand notices,” said minister of state for communications, Sanjay Dhotre. CNBC-TV18 had reported that it will take at least 6-8 months’ time for DoT to assess telcos’ self-assessment documents. The telecom companies so far have paid about Rs 25,900 crore for the Adjusted Gross Revenue (AGR) dues to the DoT.
- India’s passenger car sales fell 8.7% year-on-year to 1,56,285 units in February, leading to a 7.6% fall in passenger vehicle dispatches in the month, according to data released by the Society of Indian Automobile Manufacturers (Siam) on Friday. Domestic passenger vehicle sales declined to 1,51,516 units in February from 2,72,243 units in the year-ago period. Domestic automobile sales across categories slumped 19.1% in February as economic slowdown hit demand. Wholesale dispatches were also hit as manufacturers cut production to match subdued retail demand and reduced inventory of BS IV emission norms compliant vehicles, Siam said.
Company News:
- State bank of India has submitted a proposal to the Cabinet under which the state-owned lender along with Life Insurance Corporation of India will hold 55.56% stake in the cash-strapped Yes Bank. Of this, SBI will hold 45.74% and LIC 9.81%. Private lenders including HDFC and ICICI Bank will hold 6.31% each while Axis Bank and Kotak Mahindra Bank will hold 3.15% each. LIC currently holds 8.06% stake in the Rana Kapoor-founded Yes Bank. The 9.81% stake will be held by LIC out of the expanded equity of Yes Bank after the Reserve Bank of India-assisted reconstruction of the private lender.
- Federal Bank on Friday said its asset quality is healthy and the capital adequacy is much above the regulatory requirement, amid broader concerns triggered by the Yes Bank crisis. “To reiterate the bank’s strengths: Federal Bank is now having a CRAR (capital adequacy ratio) of 14.14 per cent (FY2019) which is higher than the regulatory minimum of 9 per cent. “As on December 31, 2019, the total CRAR of the bank was 13.64 per cent, with tier 1 capital being at 12.62 per cent and this indicates a strong position on capital,” it said in a statement. Also, gross NPA (non-performing asset) ratio in Federal Bank is 2.92 per cent against the industrial average of 9.1 per cent.
- Ratings agency CRISIL has assigned the highest rating to Bharti Airtel for the company’s corporate governance standards and value creation for all its stakeholders. CRISIL rated the telecom operator with ‘CRISIL GVC Level-1 ‘ for its competent board of directors, outstanding corporate governance practices and high disclosure standards compared with listed corporate entities.
Global News:
- Global stock markets crashed on Friday, ending a years-long bull run, with coronavirus panic selling hitting almost every asset class and leaving investors nowhere to hide. Half a trillion dollars in liquidity from the U.S. Federal Reserve and the promise of more were not enough to calm the fear that has wiped some $14 trillion from world stocks in a month. On Friday, Japanese stocks were in freefall and markets from Seoul to Jakarta punched through downlimit circuit breakers.
- China’s consumer inflation moderated in February, while producer prices returned to deflation. The consumer price index rose 5.2% last month from a year earlier, following a 5.4% gain in January, the National Bureau of Statistics data said Tuesday. However, food prices rose the fastest in almost 12 years on the continuing spike in pork costs. Factory prices slowed, with the producer price index registering a 0.4% decline on year, after rising 0.1% in January.
(Source: Bloomberg Quint, Economic Times, Business Today,
Business Standard, Investing,CNBC TV18 Moneycontrol, livemint)
Forthcoming Corporate Actions (16th March to 21st March)
| Security Name | Ex-Date | Purpose | Security Name | Ex-Date | Purpose |
| ADANIPORTS | 16-Mar-20 | Interim Dividend – Rs. – 3.20 | TORNTPHARM | 18-Mar-20 | Interim Dividend – Rs. – 17.00 |
| ALPHAGEO | 16-Mar-20 | Interim Dividend – Rs. – 8.00 | ZENSARTECH | 18-Mar-20 | Interim Dividend – Rs. – 1.80 |
| APLLTD | 16-Mar-20 | Interim Dividend – Rs. – 7.00 | 20MICRONS | 19-Mar-20 | Interim Dividend – Rs. – 0.60 |
| APLLTD | 16-Mar-20 | Special Dividend – Rs. – 3.00 | AMARAJABAT | 19-Mar-20 | Interim Dividend – Rs. – 5.00 |
| APTECHT | 16-Mar-20 | Interim Dividend – Rs. – 4.50 | ARIES | 19-Mar-20 | Interim Dividend – Rs. – 0.50 |
| CUPID | 16-Mar-20 | Interim Dividend – Rs. – 3.50 | ASAHIINDIA | 19-Mar-20 | Interim Dividend – Rs. – 1.00 |
| DEEPAKNI | 16-Mar-20 | Interim Dividend – Rs. – 4.50 | ASHOKLEY | 19-Mar-20 | Interim Dividend – Rs. – 0.50 |
| GAEL | 16-Mar-20 | Interim Dividend – Rs. – 1.00 | BLUESTARCO | 19-Mar-20 | Interim Dividend – Rs. – 10.00 |
| GINISILK | 16-Mar-20 | Interim Dividend – Rs. – 0.50 | CEATLTD | 19-Mar-20 | Interim Dividend – Rs. – 12.00 |
| HAVELLS | 16-Mar-20 | Interim Dividend – Rs. – 4.00 | CIPLA | 19-Mar-20 | Interim Dividend – Rs. – 3.00 |
| IONEXCHANG | 16-Mar-20 | Interim Dividend – Rs. – 4.50 | CIPLA | 19-Mar-20 | Special Dividend – Rs. – 1.00 |
| KIRLPNU | 16-Mar-20 | Interim Dividend – Rs. – 1.70 | COALINDIA | 19-Mar-20 | Interim Dividend – Rs. – 12.00 |
| KPT | 16-Mar-20 | Interim Dividend – Rs. – 0.75 | DELTACORP | 19-Mar-20 | Interim Dividend – Rs. – 0.75 |
| MARICO | 16-Mar-20 | Interim Dividend – Rs. – 0.75 | EICHERMOT | 19-Mar-20 | Interim Dividend – Rs. – 125.00 |
| ORBTEXP | 16-Mar-20 | Interim Dividend – Rs. – 3.00 | ERIS | 19-Mar-20 | Interim Dividend – Rs. – 2.87 |
| POWERGRID | 16-Mar-20 | Interim Dividend – Rs. – 5.96 | EXCELINDUS | 19-Mar-20 | Interim Dividend – Rs. – 10.00 |
| SHILPAMED | 16-Mar-20 | Interim Dividend – Rs. – 1.10 | FIEMIND | 19-Mar-20 | Interim Dividend – Rs. – 10.00 |
| SIYSIL | 16-Mar-20 | Interim Dividend – Rs. – 2.40 | GDL | 19-Mar-20 | Interim Dividend – Rs. – 4.50 |
| SNL | 16-Mar-20 | Interim Dividend – Rs. – 3.00 | GRANULES | 19-Mar-20 | Buy Back of Shares |
| SUPRAJIT | 16-Mar-20 | Interim Dividend – Rs. – 1.00 | IEX | 19-Mar-20 | Interim Dividend – Rs. – 2.50 |
| TVSELECT | 16-Mar-20 | Interim Dividend – Rs. – 1.50 | IIFL | 19-Mar-20 | Interim Dividend – Rs. – 2.25 |
| WEIZMANIND | 16-Mar-20 | Interim Dividend – Rs. – 10.00 | INSECTICID | 19-Mar-20 | Interim Dividend – Rs. – 4.00 |
| AIAENG | 17-Mar-20 | Interim Dividend – Rs. – 27.00 | JINDWORLD | 19-Mar-20 | Interim Dividend – Rs. – 0.05 |
| ARVINDFASN | 17-Mar-20 | Right Issue of Equity Shares | JYOTHYLAB | 19-Mar-20 | Interim Dividend – Rs. – 3.00 |
| BALAMINES | 17-Mar-20 | Interim Dividend – Rs. – 2.60 | KANCHI | 19-Mar-20 | Interim Dividend – Rs. – 2.00 |
| BRIGHTBR | 17-Mar-20 | Interim Dividend – Rs. – 2.00 | KEI | 19-Mar-20 | Interim Dividend – Rs. – 1.50 |
| DEEPAKSP | 17-Mar-20 | Interim Dividend – Rs. – 1.50 | KILPEST | 19-Mar-20 | Interim Dividend – Rs. – 0.70 |
| GODFRYPHLP | 17-Mar-20 | Interim Dividend – Rs. – 24.00 | KNRCON | 19-Mar-20 | Interim Dividend – Rs. – 0.50 |
| GRNLAMIND | 17-Mar-20 | Interim Dividend – Rs. – 4.00 | KPITTECH | 19-Mar-20 | Interim Dividend – Rs. – 0.45 |
| HATSUN | 17-Mar-20 | Interim Dividend – Rs. – 2.00 | KTIL | 19-Mar-20 | Interim Dividend – Rs. – 1.25 |
| KTKBANK | 17-Mar-20 | Bonus issue 1:10 | LKPFIN | 19-Mar-20 | Interim Dividend – Rs. – 2.00 |
| PRECAM | 17-Mar-20 | Interim Dividend – Rs. – 0.95 | MANINDS | 19-Mar-20 | Interim Dividend – Rs. – 1.00 |
| RATNAMANI | 17-Mar-20 | Interim Dividend – Rs. – 12.00 | MMFL | 19-Mar-20 | Interim Dividend – Rs. – 5.00 |
| SANDUMA | 17-Mar-20 | Interim Dividend – Rs. – 5.00 | MODISNME | 19-Mar-20 | Interim Dividend – Rs. – 1.00 |
| SASKEN | 17-Mar-20 | Interim Dividend – Rs. – 15.00 | MOLDTEK | 19-Mar-20 | Interim Dividend – Rs. – 1.50 |
| SASKEN | 17-Mar-20 | Special Dividend – Rs. – 35.00 | MOLDTKPAC | 19-Mar-20 | Interim Dividend – Rs. – 5.00 |
| SUNCLAYLTD | 17-Mar-20 | Interim Dividend – Rs. – 31.00 | NCLIND | 19-Mar-20 | Interim Dividend – Rs. – 1.50 |
| TVSMOTOR | 17-Mar-20 | Interim Dividend – Rs. – 1.40 | NFL | 19-Mar-20 | Interim Dividend – Rs. – 0.95 |
| TVSSRICHAK | 17-Mar-20 | Interim Dividend – Rs. – 20.10 | OAL | 19-Mar-20 | Interim Dividend – Rs. – 2.50 |
| WELSPUNIND | 17-Mar-20 | Interim Dividend – Rs. – 1.00 | ORICON | 19-Mar-20 | Interim Dividend – Rs. – 0.50 |
| AKCAPIT | 18-Mar-20 | Interim Dividend – Rs. – 5.00 | ORICON | 19-Mar-20 | Special Dividend – Rs. – 0.30 |
| ARNOLD | 18-Mar-20 | Consolidation of Shares | PNCINFRA | 19-Mar-20 | Interim Dividend – Rs. – 0.50 |
| ATUL | 18-Mar-20 | Interim Dividend – Rs. – 15.00 | SMRUTHIORG | 19-Mar-20 | Interim Dividend – Rs. – 3.00 |
| BANCOINDIA | 18-Mar-20 | Interim Dividend – Rs. – 20.00 | TAHL | 19-Mar-20 | Interim Dividend – Rs. – 0.06 |
| ELGIEQUIP | 18-Mar-20 | Interim Dividend – Rs. – 1.65 | TBZ | 19-Mar-20 | Interim Dividend – Rs. – 1.00 |
| GESHIP | 18-Mar-20 | Interim Dividend – Rs. – 5.40 | TCS | 19-Mar-20 | Interim Dividend – Rs. – 12.00 |
| IOLCP | 18-Mar-20 | Interim Dividend – Rs. – 3.00 | VIVIDIND | 19-Mar-20 | Interim Dividend – Rs. – 0.25 |
| JAMNAAUTO | 18-Mar-20 | Interim Dividend – Rs. – 0.22 | WSTCSTPAPR | 19-Mar-20 | Interim Dividend – Rs. – 5.00 |
| JENBURPH | 18-Mar-20 | Interim Dividend – Rs. – 8.10 | AKSCHEM | 20-Mar-20 | Interim Dividend – Rs. – 3.50 |
| KABRAEXTRU | 18-Mar-20 | Interim Dividend – Rs. – 1.50 | ALBK | 20-Mar-20 | Amalgamation |
| KIRLOSENG | 18-Mar-20 | Interim Dividend – Rs. – 4.00 | ANDHRABANK | 20-Mar-20 | Amalgamation |
| MENNPIS | 18-Mar-20 | Interim Dividend – Rs. – 0.45 | CONTROLPR | 20-Mar-20 | Interim Dividend – Rs. – 4.50 |
| NESCO | 18-Mar-20 | Interim Dividend – Rs. – 3.00 | CORPBANK | 20-Mar-20 | Amalgamation |
| NOCIL | 18-Mar-20 | Interim Dividend – Rs. – 2.50 | DATASOFT | 20-Mar-20 | Reduction of Capital |
| PERSISTENT | 18-Mar-20 | Interim Dividend – Rs. – 3.00 | GEOJITFSL | 20-Mar-20 | Interim Dividend – Rs. – 1.50 |
| SISL | 18-Mar-20 | Interim Dividend – Rs. – 0.50 | SYNDIBANK | 20-Mar-20 | Amalgamation |
| SOTL | 18-Mar-20 | Interim Dividend – Rs. – 20.00 | VISAKAIND | 20-Mar-20 | Interim Dividend – Rs. – 5.00 |
| TORNTPHARM | 18-Mar-20 | Special Dividend – Rs. – 15.00 |
Source: BSE, Elite wealth Research
Upcoming Board Meetings (16th March to 21st March)
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| AIMCOPEST | Interim Dividend | 16-Mar-20 | MASTEK | Interim Dividend | 17-Mar-20 |
| ALLCARGO | Interim Dividend | 16-Mar-20 | MIDEASTP | Preferential Issue of shares | 17-Mar-20 |
| BENGALASM | Interim Dividend | 16-Mar-20 | MUTHOOTFIN | Interim Dividend;General | 17-Mar-20 |
| BRIGADE | Interim Dividend | 16-Mar-20 | RBLBANK | Interim Dividend | 17-Mar-20 |
| CADILAHC | Interim Dividend | 16-Mar-20 | SHILGRAVQ | Interim Dividend | 17-Mar-20 |
| DIAMANT | General | 16-Mar-20 | SUGALDAM | General | 17-Mar-20 |
| GALAXYSURF | Interim Dividend | 16-Mar-20 | VSTTILLERS | Interim Dividend | 17-Mar-20 |
| GHCL | Interim Dividend | 16-Mar-20 | DIXON | Interim Dividend | 18-Mar-20 |
| HAL | Interim Dividend | 16-Mar-20 | NLCINDIA | General | 18-Mar-20 |
| IGL | Interim Dividend | 16-Mar-20 | PEL | Interim Dividend | 18-Mar-20 |
| INDNIPPON | Interim Dividend | 16-Mar-20 | RPGLIFE | Interim Dividend | 18-Mar-20 |
| LUMAXIND | Interim Dividend;General | 16-Mar-20 | SHK | Interim Dividend | 18-Mar-20 |
| MANSIFIN | General | 16-Mar-20 | SMSPHARMA | Interim Dividend | 18-Mar-20 |
| MARVINY | Interim Dividend | 16-Mar-20 | AGIIL | Interim Dividend;General | 19-Mar-20 |
| MJCO | Interim Dividend | 16-Mar-20 | GRSE | Interim Dividend | 19-Mar-20 |
| ONGC | Interim Dividend | 16-Mar-20 | MANAPPURAM | General | 19-Mar-20 |
| PARNAXLAB | General | 16-Mar-20 | MOTOGENFIN | General | 19-Mar-20 |
| SONAL | General | 16-Mar-20 | NTPC | Dividend;Interim Dividend | 19-Mar-20 |
| ULTRAMAR | Interim Dividend | 16-Mar-20 | PANTH | General | 19-Mar-20 |
| WINSOMBR | General | 16-Mar-20 | RIR | General | 19-Mar-20 |
| WORTH | General | 16-Mar-20 | RUBBERPR | General | 19-Mar-20 |
| ADANIENT | Interim Dividend | 17-Mar-20 | ENVAIREL | General | 20-Mar-20 |
| BCPL | Interim Dividend | 17-Mar-20 | JINAAM | General | 20-Mar-20 |
| GRAPHITE | Interim Dividend | 17-Mar-20 | PROVESTSER | General | 21-Mar-20 |
| KIRLOSIND | Interim Dividend | 17-Mar-20 | ZGOVPOOX | Interim Dividend | 21-Mar-20 |
| KOTAKBANK | Dividend on Preference Shares | 17-Mar-20 |
Source: BSE, Elite wealth Research
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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