Indian Market Outlook:
The Key benchmark indices fell over one percent over the week due to weak global cues with rising US bond yields dampened sentiment towards risky assets such as emerging markets. Another factor weighing on investor sentiment is the rise in crude oil prices. Brent crude touched $65 a barrel this week before retreating to $63. Nifty ended the week 1.20 percent lower at 14982 points while Sensex ended 1.27 percent lower at 50889 points. Broader market underperformed the key benchmark indices. BSE Midcap index ended 0.6 percent higher, while the BSE Small cap index rose 1.23 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.4408 crore while the DIIs were the net sellers of Rs.6283 crore. The yield on the 10-year government security has increased from 5.95 per cent at the beginning of February to 6.13 per cent now due to concerns over a deluge of new issuances. Bond yields are inversely proportional to equity returns and when bond yields decline, equity markets tend to outperform while when yields rise equity market returns tend to falter. Going forward till concerns over rising bond yields and inflation ease, stock markets could continue to correct or move range-bound. Further, a spike in coronavirus cases, in some states, has also come back to haunt stock markets. Sensex and Nifty are likely to continue to keep an eye on global markets for cues. The coming week will also see the third-quarter GDP data be released, which might infuse positivity going ahead.
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Latest Spot Price (in US $)
|Precious Metal||Current Price||Change (%)||3 Month||6 Month||1 Year|
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Global Weekly Events
|Feb 22,2021||CNY||PBoC Loan Prime Rate||–||3.85%|
|Feb 24,2021||USD||Crude Oil Inventories||–||-7.258M|
|Feb 24,2021||INR||Federal Fiscal Deficit (Jan)||–||11,584.69B|
|Feb 24,2021||INR||GDP Quarterly (YoY) (Q3)||0.3%||-7.5%|
|Feb 26,2021||INR||Infrastructure Output (YoY) (Jan)||–||-2.6%|
|Feb 27,2021||USD||US Federal Budget||–||-430.0B|
Domestic Economy Indicators
|RBI Policy Rate||Policy Repo Rate||4.00%||4.00%|
|Reverse Repo Rate||3.25%||3.25%|
|Inflation Rate||Wholesale Price Index||2.03%||1.22%|
|Consumer Price Index||4.06%||4.59%|
|Trade Data||Export ($ Million)||27450||27240|
|Domestic Indices||Closing(19th February)||Change||%Change|
|Net Inflow (Cr)||FII||DII|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Top Losers||Closing Price||Prev Close||Chg (%)|
Source: Financial Express, Investing, NDTV, BSE, Livemint,Business Standard
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The Centre has released Rs 1 lakh crore to states and Union Territories in the four months since October 2020, to meet GST compensation shortfall, the Finance Ministry said on Saturday. The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1 lakh crore.
The Reserve Bank on Friday said it has barred Karnataka-based Deccan Urban Co-operative Bank from granting fresh loans or accepting deposits and customers cannot withdraw more than Rs 1,000 from their savings account for a period of six months. The lender has also been asked not to make fresh investments or incur any liability without its prior permission.
The Delhi government has floated a fresh tender for setting up another 100 charging stations for electric vehicles across the city. The move comes under its ongoing ‘Switch Delhi’, an electric vehicle mass awareness campaign to sensitize citizens about the benefits of switching to e-vehicles. Sources said that in an effort to install adequate number of EV charging stations across the national capital in the coming days, the government has been mulling to set up a station after every kilometre, in the next two years.
Petrol and diesel prices have begun to pinch consumers harder with oil marketing companies (OMCs) reserving the weekend for effecting the steepest hike in last several months. Accordingly, the price of petrol and diesel were raised by 39 paisa and 37 paisa per litre respectively in Delhi on Saturday. With this increase, petrol is now priced at Rs 90.58 and diesel Rs 80.97 per litre (s) in the national capital.
Jubilant FoodWorks Ltd (JLF) which operates Domino’s Pizza and Dunkin’ Donuts outlets in India is set to fully acquire the Netherlands-based Fides Food Systems Coöperatief UA via its wholly-owned subsidiary, Jubilant Foodworks Netherlands B.V. for approximately £24.80 million. The acquisition of Fides by Jubilant Foodworks Netherlands B.V. will enable JFL to indirectly hold 32.81% shares in DP Eurasia, which is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan, and Georgia, JFL informed the exchanges on Friday. To this end, Jubilant Foodworks Netherlands B.V. and JFL, acting as a guarantor for the investment obligation of its wholly-owned subsidiary, has entered into a purchase agreement with Turkish Private Equity Fund II L.P., which is the sole member of Fides, the company said.
Dhunseri Group and Berger Paints, are planning to set up two manufacturing units at Panagarh Industrial park in Burdwan. Dhunseri Group promoter Chandra Kumar Dhanuka plans to set up a packaging material unit targeting food processing, cosmetics, personal care and pharmaceuticals industries. On the other hand, Berger Paints intend to build a construction chemicals and putty unit for a total outlay of Rs 100 crore. The proposed unit will be its third plant in Bengal, the other two located at Shibpur in Howrah and Rishra in Hooghly district.
Adani Enterprises and DP Jain & Co Infrastructure have emerged as the highest bidders for the fifth round of Toll-Operate-Transfer (TOT) auctions, financial bids for which opened on Friday. The bundle was divided into two parts — 5A-1 and 5A-2 – and both companies quoted the highest prices, respectively. The National Highways Authority of India (NHAI) has, however, not revealed the reserve the reserve price yet and the companies will bag the contracts only if their quotes are above the reserve price.
The U.S. recovery is accelerating, putting it on course to outperform China’s V-shaped rebound, according to JPMorgan Chase & Co. economists. Indications of resilience in global industry, a surge in American retail spending, along with fiscal stimulus around the world, especially from the Biden administration, point to higher growth in the U.S., according to projections from JPMorgan economists lled by Bruce Kasman.
(Source:Bloomberg Quint, Economic Times, BusinessToday, Business Standard, Financial Express,Investing, Moneycontrol, livemint)
Forthcoming Corporate Actions
|Security Name||Ex-Date||Purpose||Security Name||Ex-Date||Purpose|
|AUROPHARMA||22-Feb-21||Interim Dividend – Rs. – 1.5000||SJVN||23-Feb-21||Interim Dividend – Rs. – 1.8000|
|DCMSRMIND||22-Feb-21||Interim Dividend – Rs. – 5.0000||TOWERINFRA||23-Feb-21||Income Distribution (InvIT)|
|GOLDIAM||22-Feb-21||Interim Dividend – Rs. – 2.0000||UNIDT||23-Feb-21||Interim Dividend – Rs. – 0.9000|
|ITC||22-Feb-21||Interim Dividend – Rs. – 5.0000||ZUARIGLOB||23-Feb-21||Interim Dividend – Rs. – 1.0000|
|MAZDOCK||22-Feb-21||Interim Dividend – Rs. – 5.4100||ISGEC||24-Feb-21||Interim Dividend – Rs. – 2.0000|
|MERCURYLAB||22-Feb-21||Interim Dividend – Rs. – 1.5000||KARDA||24-Feb-21||Interim Dividend – Rs. – 0.0500|
|NATCOPHARM||22-Feb-21||Interim Dividend – Rs. – 1.0000||NILE||24-Feb-21||Interim Dividend – Rs. – 1.0000|
|NHPC||22-Feb-21||Interim Dividend – Rs. – 1.2500||RACLGEAR||24-Feb-21||Interim Dividend – Rs. – 1.0000|
|PANCHSHEEL||22-Feb-21||Interim Dividend – Rs. – 1.5000||SANDHAR||24-Feb-21||Interim Dividend – Rs. – 1.2500|
|SELAN||22-Feb-21||Interim Dividend – Rs. – 5.0000||TECHNOE||24-Feb-21||Interim Dividend – Rs. – 3.0000|
|SHANTIGEAR||22-Feb-21||Interim Dividend – Rs. – 1.5000||AMARAJABAT||25-Feb-21||Interim Dividend – Rs. – 5.0000|
|TIINDIA||22-Feb-21||Interim Dividend – Rs. – 2.0000||CAREERP||25-Feb-21||Interim Dividend – Rs. – 1.0000|
|ARVINDFASN||23-Feb-21||Right Issue of Equity Shares||DHARAMSI||25-Feb-21||Interim Dividend – Rs. – 1.0000|
|COCHINSHIP||23-Feb-21||Interim Dividend – Rs. – 4.0000||GMPL||25-Feb-21||Interim Dividend – Rs. – 1.0000|
|IRCON||23-Feb-21||Interim Dividend – Rs. – 1.3000||GUJAPOLLO||25-Feb-21||Buy Back of Shares|
|NIITLTD||23-Feb-21||Buy Back of Shares||NGIL||25-Feb-21||Bonus issue 5:8|
|OIL||23-Feb-21||Interim Dividend – Rs. – 3.5000||YSL||25-Feb-21||Interim Dividend – Rs. – 175.0000|
|PRECWIRE||23-Feb-21||Interim Dividend – Rs. – 2.0000||SMARTLINK||26-Feb-21||Buy Back of Shares|
Source:BSE, Elite wealth Research
Upcoming Board Meetings
|Symbol||Purpose||BM Date||Symbol||Purpose||BM Date|
|APOORVA||Quarterly Results||22-Feb-21||HUHTAMAKI||Final Dividend;Audited Results||24-Feb-21|
|DBREALTY||Preferential Issue of shares;General||22-Feb-21||INDIANVSH||Quarterly Results||24-Feb-21|
|INCON||Voluntary Delisting of Shares||22-Feb-21||SPANDANA||General||24-Feb-21|
|SPELS||Quarterly Results||22-Feb-21||RAIN||Audited Results||25-Feb-21|
|ELANTAS||Audited Results;Dividend||23-Feb-21||AIML||Quarterly Results||26-Feb-21|
|SANOFI||Final Dividend;Audited Results||23-Feb-21||HAL||Interim Dividend||26-Feb-21|
|STOVEKRAFT||Quarterly Results||23-Feb-21||KEI||Interim Dividend||26-Feb-21|
|UDL||Quarterly Results||23-Feb-21||MDRNTHR-B||Quarterly Results||26-Feb-21|
|UNIPLY||Quarterly Results||23-Feb-21||POWERINDIA||Dividend;Quarterly Results||26-Feb-21|
|VENUSREM||Issue Of Warrants;General||23-Feb-21||SIMPLEX||Quarterly Results||26-Feb-21|
Source: BSE, Elite wealth Research
Major Economy Indicators
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