Indian Market Outlook:
The Key benchmark indices ended flat this week however IT and Healthcare as well as Realty were the top sectors that closed with gains of more than 5 percent. Most of the stocks in the IT and pharma space hit a fresh 52-week high in the week gone by. Nifty ended the week 0.35 percent higher at 11504.95 points while Sensex ended 0.02 percent lower at 38845.82 points. Broader market outperformed the benchmark indices. BSE Midcap index ended 4.37 percent higher, while the BSE Small cap index rose 5.09 percent, during the course of the week. The recent SEBI guidelines on the Multicap funds have opened room for more money to flow into midcap and smallcap space which remains underweight in most mutual fund portfolios. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.1689 crore while the DIIs were the net sellers of Rs.2396 crore. Bank Nifty underperformed the benchmark indices ended the week 2 percent lower. On Macro Front Fed will keep interest rates near zero until US inflation rises above its 2 per cent target for an unspecified duration of time. At the grassroot level, it seems that ground level economies across the globe would at least take two-three years to recover from the jolt of the pandemic. Two IPOs will open for subscription on Monday: Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals Ltd, followed by Angel Broking on Tuesday.
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Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1,957.75 | 0.51 | 10.69 | 31.45 | 26.63 | |||||
| Silver | 27.13 | 1.04 | 51.99 | 67.06 | 49.07 | |||||
| Platinum | 932.40 | -0.07 | 13.07 | 24.07 | 0.77 | |||||
| USD/INR | 73.54 | 0.15 | -3.57 | -1.67 | 3.37 | |||||
| Crude | 40.97 | 9.75 | 3.07 | 62.45 | -29.50 | |||||
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Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| Sep 21,2020 | CNY | PBoC Loan Prime Rate | – | 3.85% |
| Sep 22,2020 | USD | Existing Home Sales (Aug) | 6.00M | 5.86M |
| Sep 23,2020 | USD | Crude Oil Inventories) | – | -4.389M |
| Sep 24,2020 | USD | Initial Jobless Claims | – | 860K |
| Sep 25,2020 | INR | Bank Loan Growth | – | 5.5% |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 4.00% | 4.00% |
| Reserve Policy Rate | 3.25% | 3.25% | |
| Bank Rate | 4.25% | 4.25% | |
| Reserve Ratio | CRR | 3% | 3% |
| SLR | 18.00% | 18.00% | |
| Inflation Rate | Wholesale Price Index | 0.16% | -0.58% |
| Consumer Price Index | 6.69% | 6.96% | |
| Trade Data | Export ($ Million) | 22700 | 23640 |
| Import($ Million) | 29470 | 28470 | |
| Industry | IIP | -10.4% | -15.7% |
| Domestic Indices | Closing(18th September) | Change | %Change |
| BSE Sensex | 38,845.82 | -8.73 | -0.02 |
| Nifty | 11,504.95 | 40.50 | 0.35 |
| Mid Cap | 15,299.98 | 640.36 | 4.37 |
| Small Cap | 15,299.98 | 741.71 | 5.09 |
| Bank Nifty | 22,031.05 | -448.90 | -2.00 |
| Global Indices | Closing(18thSeptember) | Change | %Change |
| Dow Jones | 27,657.42 | -8.22 | -0.03 |
| Nasdaq | 10,793.28 | -60.26 | -0.56 |
| FTSE | 6,007.05 | -25.04 | -0.42 |
| Nikkei | 23,360.30 | -46.19 | -0.20 |
| Hang Seng | 24,455.41 | -47.90 | -0.20 |
| Shanghai Com | 3,338.09 | 77.74 | 2.38 |
| Net Inflow (Cr) | FII | DII |
| 14-Sep-2020 | 298.22 | -120.35 |
| 15-Sep-2020 | 1,170.89 | -895.63 |
| 16-Sep-2020 | 264.66 | -212.21 |
| 17-Sep-2020 | -249.82 | -1,067.83 |
| 18-Sep-2020 | 205.15 | -100.83 |
| Total | 1689.1 | -2396.85 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| Dr. Reddy | 5333.35 | 4401.60 | 21.17 |
| HCL Tech | 810.60 | 721.65 | 12.33 |
| Wipro | 316.50 | 293.30 | 7.91 |
| UPL | 537.30 | 499.00 | 7.68 |
| M & M | 654.15 | 614.25 | 6.50 |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| IndiaBulls Hsg | 178.60 | 198.90 | -10.21 |
| SBI | 192.60 | 202.70 | -4.98 |
| Kotak Mahindra | 1277.10 | 1330.35 | -4.00 |
| Bajaj Finserv | 5888.45 | 6128.40 | -3.92 |
| BPCL | 412.05 | 428.75 | -3.90 |
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Economic News:
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Economic activity across India showed a spurt in August and early September, suggesting high frequency indicators across mobility, logistics and electricity consumption. The data, while encouraging, showed that activity remains below pre-Covid levels, putting the Indian economy on course for a double-digit contraction in FY21. The year-on-year performance of 11 of the 16 available indicators improved in August 2020 relative to July, said Aditi Nayar, principal economist at ICRA, “The high frequency lead indicators for August suggest that a fragmented recovery is underway.”
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India’s economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic with more than 5 million infections. Economists and global institutions like the Asian Development Bank have recently cut India’s growth projections from already historic lows as the virus continues to spread. Goldman Sachs Group Inc. now estimates a 14.8% contraction in gross domestic product for the year through March 2021, while the ADB is forecasting -9%. The Organisation for Economic Co-operation and Development sees the economy shrinking by 10.2%.
Industry News:
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The telecom sector will attract investments with the tussle over adjusted gross revenue (AGR) dues coming to an end, said telecom secretary Anshu Prakash. He added that in line with the national telecom policy of 2018, the department is working on spectrum reform measures. Telecom market leader Reliance Jio concurred with Prakash that India will attract investment opportunities. The telco will work with local stakeholders to drive innovation.
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India Ratings and Research on Friday said it had revised its outlook on the banking sector to negative for the second half of FY21 (H2FY21) from stable. The change was made in view of an expected spike in stressed assets, higher credit costs, weaker earnings on account of interest reversals and lower fee income, and muted growth prospects in the wake of the measures taken to contain the spread of Covid-19. “Additionally, capital buffers for most public sector banks (PSBs) remain modest. As per Ind-Ra’s bear case, the spike in stressed assets due to pandemic is expected to double the credit costs for banking system than estimated pre-Covid-19 levels for FY21,” the rating agency said.
Company News:
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Emami Ltd. is confident of delivering a “stronger performance” in FY21, despite a 26% degrowth in sales due to Covid-19 in the April-June quarter, company founder and whole-time director RS Goenka said on Friday. Addressing shareholders at the annual general meeting of the Kolkata-headquartered company, he said Emami is ramping up its innovation pipeline and investing in the new-age trade channel to be future-ready.
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Dewan Housing Finance (DHFL) has issued a demand notice for loan overdues of over Rs 112 crore from Pune-based Landscape Realty and its guarantors, which include entities and individuals linked to the 187-year-old PNG Jewellers, a popular chain of gold retailing shops. In a statement, Saurabh Gadgil, who is the chairman and managing director of PNG Jewellers termed this news as “fake” and alleged that his company’s name is being dragged into it with “malafide intent”.
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Hyderabad-based GMR group has been the king of India’s airport infrastructure business, handling over 100 million passengers a year in India and abroad. Its two operational airports in India Delhi and Hyderabad — handled nearly a fourth of the 340 million Indian airline passenger market in FY20. So last month, listening to a long-standing demand by its investors, GMR Infrastructure demerged its non-airport business (energy and highways) from the airport business, transforming the company into India’s only listed pure play Airport Company.
Global News:
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S. consumer sentiment increased more than expected in early September to a six-month high as Americans grew more upbeat about the economy’s prospects. The University of Michigan’s preliminary sentiment index for September advanced to 78.9 from a final August reading of 74.1, according to data released Friday. The median estimate from economists surveyed by Bloomberg was 75.
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Flipkart and Paytm entered the list of India’s 10 most valuable brands as they joined Reliance Jio Infocomm Ltd. to represent new technology firms in the club. Walmart Inc.-owned Flipkart’s brand value jumped 40% over the previous year to $6.5 billion and it now ranks eighth on the list of 75 companies compiled by the ad agency network WPP Plc. and market researcher Kantar Millward Brown
(Source: Bloomberg Quint, Economic Times, BusinessToday, Business Standard, Financial Express,Investing, Moneycontrol, livemint)
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Forthcoming Corporate Actions
| Security Name | Ex-Date | Purpose | Security Name | Ex-Date | Purpose |
| AINFRA | 21-Sep-20 | Final Dividend – Rs. – 0.10 | ZGOVPOOX | 21-Sep-20 | Final Dividend – Rs. – 0.50 |
| AMBIKCO | 21-Sep-20 | Final Dividend – Rs. – 15.00 | AGARIND | 22-Sep-20 | Dividend – Rs. – 1.50 |
| BENARAS | 21-Sep-20 | Final Dividend – Rs. – 7.50 | ASTAR | 22-Sep-20 | Dividend – Rs. – 1.50 |
| BRPL | 21-Sep-20 | Final Dividend – Rs. – 1.00 | AVL | 22-Sep-20 | Final Dividend – Rs. – 2.50 |
| CAPPL | 21-Sep-20 | Final Dividend – Rs. – 0.40 | BASANTGL | 22-Sep-20 | Dividend – Rs. – 0.0500 |
| CHAMANSEQ | 21-Sep-20 | Final Dividend – Rs. – 0.50 | BEARDSELL | 22-Sep-20 | Dividend – Rs. – 0.10 |
| CMI | 21-Sep-20 | Dividend – Rs. – 0.50 | CEINSYSTECH | 22-Sep-20 | Final Dividend – Rs. – 2.50 |
| COCHINSHIP | 21-Sep-20 | Dividend – Rs. – 15.00 | CGVAK | 22-Sep-20 | Final Dividend – Rs. – 0.7500 |
| CONCOR | 21-Sep-20 | Final Dividend – Rs. – 2.8500 | DSSL | 22-Sep-20 | Interim Dividend – Rs. – 0.50 |
| CYBERTECH | 21-Sep-20 | Final Dividend – Rs. – 1.00 | DYNAMIC | 22-Sep-20 | Final Dividend – Rs. – 0.2500 |
| DIVSHKT | 21-Sep-20 | Final Dividend – Rs. – 1.50 | EIHOTEL | 22-Sep-20 | Right Issue of Equity Shares |
| ELCIDIN | 21-Sep-20 | Final Dividend – Rs. – 15.00 | FIBERWEB | 22-Sep-20 | Final Dividend – Rs. – 0.50 |
| FORCEMOT | 21-Sep-20 | Final Dividend – Rs. – 10.00 | FOODSIN | 22-Sep-20 | Final Dividend – Rs. – 0.20 |
| FRONTSP | 21-Sep-20 | Final Dividend – Rs. – 1.10 | GUJAPOLLO | 22-Sep-20 | Final Dividend – Rs. – 3.00 |
| GOLDCORP | 21-Sep-20 | Final Dividend – Rs. – 0.50 | HALDYNGL | 22-Sep-20 | Dividend – Rs. – 0.60 |
| GRMOVER | 21-Sep-20 | Dividend – Rs. – 5.00 | HBEL | 22-Sep-20 | Final Dividend – Rs. – 2.50 |
| GULFPETRO | 21-Sep-20 | Final Dividend – Rs. – 0.7500 | HGS | 22-Sep-20 | Interim Dividend – Rs. – 6.00 |
| HINDCOMPOS | 21-Sep-20 | Final Dividend – Rs. – 2.00 | HPL | 22-Sep-20 | Final Dividend – Rs. – 0.1500 |
| HINDTIN | 21-Sep-20 | Dividend – Rs. – 0.60 | INTENTECH | 22-Sep-20 | Final Dividend – Rs. – 0.20 |
| IRCON | 21-Sep-20 | Final Dividend – Rs. – 2.0600 | JAGSNPHARM | 22-Sep-20 | Dividend – Rs. – 0.50 |
| JAYSYN | 21-Sep-20 | Dividend – Rs. – 0.1500 | JBCHEPHARM | 22-Sep-20 | Final Dividend – Rs. – 1.00 |
| JKIL | 21-Sep-20 | Dividend – Rs. – 1.2500 | JINDALPOLY | 22-Sep-20 | Dividend – Rs. – 1.00 |
| KEMP | 21-Sep-20 | Dividend – Rs. – 0.50 | JYOTIRES | 22-Sep-20 | Final Dividend – Rs. – 2.50 |
| KIFS | 21-Sep-20 | Final Dividend – Rs. – 1.2500 | KMSMEDI | 22-Sep-20 | Final Dividend – Rs. – 0.0500 |
| KIOCL | 21-Sep-20 | Final Dividend – Rs. – 0.70 | MARKSANS | 22-Sep-20 | Final Dividend – Rs. – 0.10 |
| KKALPANAIND | 21-Sep-20 | Final Dividend – Rs. – 0.1200 | NXTDIGITAL | 22-Sep-20 | Final Dividend – Rs. – 5.00 |
| MERCURYLAB | 21-Sep-20 | Final Dividend – Rs. – 2.00 | REPCOHOME | 22-Sep-20 | Final Dividend – Rs. – 2.50 |
| MIDHANI | 21-Sep-20 | Final Dividend – Rs. – 1.5600 | ROLCOEN | 22-Sep-20 | Dividend – Rs. – 1.50 |
| MYSORPETRO | 21-Sep-20 | Final Dividend – Rs. – 2.00 | SHERVANI | 22-Sep-20 | Dividend – Rs. – 2.50 |
| OIL | 21-Sep-20 | Final Dividend – Rs. – 1.60 | TYCHE | 22-Sep-20 | Dividend – Rs. – 1.00 |
| PANACEABIO | 21-Sep-20 | Spin Off | VERITAS | 22-Sep-20 | Final Dividend – Rs. – 0.0500 |
| PARAGMILK | 21-Sep-20 | Dividend – Rs. – 0.50 | VIKRAMTH | 22-Sep-20 | Dividend – Rs. – 1.50 |
| PATINTLOG | 21-Sep-20 | Final Dividend – Rs. – 0.10 | VIPULORG | 22-Sep-20 | Final Dividend – Rs. – 0.80 |
| PIXTRANS | 21-Sep-20 | Final Dividend – Rs. – 2.00 | KSE | 23-Sep-20 | Interim Dividend – Rs. – 15.00 |
| POKARNA | 21-Sep-20 | Dividend – Rs. – 0.60 | TEXRAIL | 23-Sep-20 | Final Dividend – Rs. – 0.10 |
| SHYAM | 21-Sep-20 | Final Dividend – Rs. – 3.00 | WESTLEIRES | 23-Sep-20 | Dividend – Rs. – 0.10 |
| SJVN | 21-Sep-20 | Final Dividend – Rs. – 0.50 | AJMERA | 24-Sep-20 | Final Dividend – Rs. – 1.40 |
| SPENTA | 21-Sep-20 | Dividend – Rs. – 0.80 | DHARAMSI | 24-Sep-20 | Interim Dividend – Rs. – 0.50 |
| SUNTECK | 21-Sep-20 | Final Dividend – Rs. – 1.50 | KEYFINSER | 24-Sep-20 | Final Dividend – Rs. – 1.00 |
| TIMETECHNO | 21-Sep-20 | Final Dividend – Rs. – 0.9500 | MANORG | 24-Sep-20 | Final Dividend – Rs. – 1.00 |
| TPLPLAST | 21-Sep-20 | Final Dividend – Rs. – 3.50 | VAKRANGEE | 24-Sep-20 | Final Dividend – Rs. – 0.2500 |
| VIDHIING | 21-Sep-20 | Final Dividend – Rs. – 0.20 | DHANUKA | 25-Sep-20 | Buy Back of Shares |
| VISVEN | 21-Sep-20 | Final Dividend – Rs. – 0.2500 | SUVENPHAR | 25-Sep-20 | Bonus issue 1:1 |
Source:BSE, Elite wealth Research
Upcoming Board Meetings
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| BLUBLND-B | Audited Results | 21-Sep-20 | BCPL | General | 23-Sep-20 |
| CHADPAP | Audited Results | 21-Sep-20 | CREDITACC | Audited Results;General | 23-Sep-20 |
| HSIL | Buy Back of Shares | 21-Sep-20 | DHRUV | A.G.M.;General | 23-Sep-20 |
| MOHOTAIND | Quarterly Results | 21-Sep-20 | KAARYAFSL | General | 23-Sep-20 |
| MOLDTKPAC | Right Issue of Equity Shares | 21-Sep-20 | KONARKSY | Quarterly Results | 23-Sep-20 |
| SRD | Bonus issue;In. in Authorised Cap. | 21-Sep-20 | SATINDLTD | Amalgamation | 23-Sep-20 |
| ARTEMISELC | Audited Results;Quarterly Results | 22-Sep-20 | SUNRAJDI | Results;General;Quarterly Results | 23-Sep-20 |
| HARISH | Quarterly Results | 22-Sep-20 | KPRMILL | General | 24-Sep-20 |
| KAVITIND | General | 22-Sep-20 | LEHIL | General | 24-Sep-20 |
| NOVAPUB | General | 22-Sep-20 | RUBFILA | Preferential Issue of shares | 24-Sep-20 |
| OONE | Quarterly Results | 22-Sep-20 | CHANDRIMA | A.G.M.;General | 25-Sep-20 |
| PRABHAT | Audited Results | 22-Sep-20 | CRSTCHM | General | 25-Sep-20 |
| RPEL | General | 22-Sep-20 | KUMAKAIND | Bonus issue | 25-Sep-20 |
| SANGHVIFOR | Quarterly Results | 22-Sep-20 | PASUSPG | Audited Results | 25-Sep-20 |
| SOBME | General;Quarterly Results | 22-Sep-20 | SUDTIND-B | Quarterly Results | 25-Sep-20 |
| SPANDANA | General | 22-Sep-20 | WELLNESS | General | 25-Sep-20 |
| AIML | Audited Results | 23-Sep-20 | INCAP | General | 26-Sep-20 |
Source: BSE, Elite wealth Research
Major Economy Indicators
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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