Indian Market Outlook:

The Key benchmark indices fell nearly 2 percent over the week led by rise in bond yields and worry of second-wave with rising COVID cases in India.The 10-year U.S. bond yield hit a 14 months high of 1.75% during the week. Friday recovery helped the key benchmark indices from posting big fall during the week. On Friday, Nifty recovered from the day’s low of 14,350 and makes a high of 14,799 led by rally in Reliance Industries and selected FMCG and IT stocks. Nifty ended the week with 1.91 percent lower at 14744 points while Sensex ended with 1.84 percent lower at 49858 points. Broader market underperformed the key benchmark indices. BSE Midcap index ended 2.59 percent lower, while the BSE Small cap index fell 3.48 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.4475 crore while the DIIs were the net sellers of Rs.3596 crore. Bank Nifty underperformed the key benchmark indices during the week. Retail inflation is once again rising in India after cooling down for a few months increased to 5.03 per cent sharply in February due to rising food and energy prices. Crude Oil drops nearly 6% during the week with rising corona cases. U.S. commercial crude oil inventories increased by 2.4 million barrels from the previous week on Wednesday. Going forward, we would recommend investors to stay invested as any decline should not be considered as negative rather a buying opportunity.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month      1 Year
Gold 1,743.90 1.40 -7.38 -8.73 17.09
Silver 26.33 1.62 1.23 10.21 116.35
Platinum 1,196.10 0.28 14.51 37.62 100.96
USD/INR 72.41 -0.37 -2.18 -1.58 -3.17
Crude 61.46 -6.33 28.74 56.35 143.70

 

Global Weekly Events

Date Region Event Description Forecast Previous
Mar 22,2021 CNY PBoC Loan Prime Rate 3.85%
Mar 23,2021 USD New Home Sales (Feb)  876K 923K
Mar 24,2021 USD Crude Oil Inventories  2.964M 2.396M
Mar 25,2021 USD GDP (QoQ) (Q4)       4.1%     33.4%
Mar 26,2021       GBP Retail Sales (MoM) (Feb) 2.2% -8.2%
Mar 26,2021       INR   Bank Loan Growth 6.6%

 

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Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reverse Repo 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 4.17% 2.03%
Consumer Price Index 5.03% 4.06%
 Trade Data Export ($ Million) 27930 27450
Import($ Million) 40540 40550
  IIP -1.6% 1.6%

 

Domestic Indices Closing(19th March) Change %Change
BSE Sensex 49,858.24 -933.84 -1.84
Nifty 14,744.00 -286.95 -1.91
Mid Cap 20,044.50 -532.71 -2.59
Small Cap 20,470.54 -738.53 -3.48
Bank Nifty 34,161.60 -1,335.05 -3.76

 

Global Indices Closing(19th

March)

Change %Change
Dow Jones 32,627.97 -150.67 -0.46
Nasdaq 13,215.24 -104.63 -0.79
FTSE 6,708.71 -52.76 -0.78
Nikkei 29,792.05 74.22  0.25
Hang Seng 28,990.94 251.22  0.87
Shanghai Com 3,404.66 -48.42 -1.40

 

Net Inflow (Cr) FII DII
15-Mar-2021 -1,101.35 -749.71
16-Mar-2021 1,692.31 -1,168.59
17-Mar-2021 2,625.82 -562.15
18-Mar-2021 1,258.47 -1,116.17
19-Mar-2021 1,418.43 559.62
Total 4,475.25 -3596.62
     

 

Top Gainers Closing Price Prev Close Chg (%)
ITC 222.95 205.20 8.65
JSW Steel 440.55 418.75 5.21
Hind. Unilever        2315.05 2204.75 4.87
Power Grid 230.20 220.05 4.61
Grasim Ind. 1411.25 1379.50 2.30

 

Top Losers Closing Price Prev Close Chg (%)
Coal India   136.30 150.50 -9.44
Hero MotoCorp        3119.15 3350.55 -6.91
L & T 1411.25 1514.00 -6.79
Yes Bank 14.95 15.90 -5.97
Sun Pharma 578.30 613.80 -5.75
Source: Financial Express, Investing, NDTV, BSE, Livemint,Economic Times

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Economic News:

  • Harvesting of wheat and other rabi crops have been completed in 44 per cent of the total 697 lakh hectares sown area during 2020-21 rabi season, according to data released by the agriculture ministry on Friday. Harvesting of rabi (winter) crops begins from March. The main rabi crop is wheat. As per the ministry’s data, wheat crop has been harvested in 64.96 lakh hectares, 21 per cent of the estimated total cultivated area of 315.77 lakh hectares during the rabi season of the 2020-21 crop year (July-June). Pulses like gram have been harvested in 106.07 lakh hectares, 67 per cent of the total sown area of 158.09 lakh hectares in the season.

  • The Prime Minister’s Office (PMO) will soon notify a high-level committee–likely to be chaired by NITI Aayog vice chairman Rajiv Kumar–that will work on fast-tracking development and usage of hydrogen as a fuel, an official said. The expert committee will include scientists, industry leaders and policymakers from across stakeholder ministries. Internal estimates show that even with the existing technology, cost of production of one kilogram of hydrogen using solar energy will be Rs 70 compared with current fuel prices ranging over Rs 80 per litre.

Industry News:

  • Prices of essential medicines including painkillers, antiinfectives, cardiac and antibiotics could go up marginally from April, with the government allowing drug makers an increase in line with the change in the annual Wholesale Price Index (WPI). The annual change in WPI notified by the government works out to 0.5% for 2020, the drug prices regulator National Pharmaceutical Pricing Authority said on Friday. Recently, government extended the increase in price of Heparin injection, which is also used in Covid-19 treatment, till September 2021. In June last year, it had allowed a 50% price hike on Heparin after receiving requests from several companies, citing the rise in cost of APIs imported from China.

  • Top automakers including Maruti Suzuki, Tata Group, and Mahindra and Mahindra have evinced an interest in setting up vehicle-scrapping units in public-private partnership mode and will respond to government tenders on this. The Ministry of Road Transport and Highways is aiming to set up 50 such facilities in the country by March 2023, a senior official said. State governments will be roped in as part of the tender process because such centres require large tracts of land, which belong to local governments, according to the official.

Company News:

  • Tata Motors Ltd. said former Daimler AG manager Marc Llistosella won’t be joining as its next chief executive officer as previously announced because he is unable to relocate to India for “personal reasons.” Guenter Butschek will continue as the company’s CEO and managing director until June 30, the company said in a filing Friday. Llistosella, who headed Daimler Trucks in Asia, was due to take charge in July, Tata announced on Feb. 12. Butschek, a former Airbus SE executive, has been CEO since 2016.

  • Tata Consultancy Services (TCS), India’s largest information technology (IT) firm, is set to roll out salary hikes for all of its over 469,000 employees from April 2021 – the second raise in six months. TCS has also become the first IT services player to announce salary hikes for FY22. In October last year, the company had hiked salaries in the range of 6-8 per cent. With the forthcoming hike, TCS employees will get an average increment of 12-14 per cent in six months.

  • Reliance Industries (RIL) is likely to launch an affordable, 5G-ready Android smartphone in the next fiscal’s second quarter, as the conglomerate continues to woo the over-300 million feature phone users in India to switch to its telecom arm, Reliance Jio. People familiar with the matter said RIL is working on a May-June timeline to complete the R&D of the device, which is being developed in partnership with tech giant Google.

Global News:

  • The World Health Organization’s vaccine safety panel said on Friday that available data from AstraZeneca’s COVID-19 shot do not point to any overall increase in clotting conditions but it would continue to monitor for any adverse effects. “The AstraZeneca COVID-19 vaccine (including Covishield) continues to have a positive benefit-risk profile, with tremendous potential to prevent infections and reduce deaths across the world.

  • Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China’s military has banned Teslas from its facilities. “There’s a very strong incentive for us to be very confidential with any information,” Musk told a prominent Chinese forum during a virtual discussion. “If Tesla used cars to spy in China or anywhere, we will get shut down.”

 (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
ALLCARGO 22-Mar-21 Interim Dividend – Rs. – 2.00 AGIIL 23-Mar-21 Interim Dividend – Rs. – 0.50
GAIL 22-Mar-21 Interim Dividend – Rs. – 2.50 BEL 23-Mar-21 Interim Dividend – Rs. – 1.40
GRMOVER 22-Mar-21 Interim Dividend – Rs. – 20.00 IOC 23-Mar-21 Interim Dividend – Rs. – 3.00
MIDHANI 22-Mar-21 Interim Dividend – Rs. – 1.20 LANCORHOL 23-Mar-21 E.G.M.
NATIONALUM 22-Mar-21 Interim Dividend – Rs. – 2.00 GOTHIPL 24-Mar-21 Interim Dividend – Rs. – 1.00
NMDC 22-Mar-21 Interim Dividend – Rs. – 7.7600 SOMANYCERA 24-Mar-21 Interim Dividend – Rs. – 2.40
RAMCOCEM 22-Mar-21 Interim Dividend – Rs. – 3.00 TOWERINFRA 24-Mar-21 Income Distribution (InvIT)
RAMCOIND 22-Mar-21 Interim Dividend – Rs. – 1.00 BPCL 25-Mar-21 Interim Dividend – Rs. – 5.00
RGL 22-Mar-21 Interim Dividend – Rs. – 4.50 HUDCO 25-Mar-21 Interim Dividend – Rs. – 0.7500
SWASTIKA 22-Mar-21 Interim Dividend – Rs. – 2.00 RELTD 25-Mar-21 E.G.M.
Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
ANMOL Preferential Issue of shares 22-Mar-21 SPICEISL General 23-Mar-21
ARHNTTO General 22-Mar-21 UNJHAFOR General 23-Mar-21
AUTOLITIND Quarterly Results 22-Mar-21 CELLA General 24-Mar-21
CHARMS General 22-Mar-21 KRITINUT General 24-Mar-21
COLPAL Interim Dividend 22-Mar-21 RAAJMEDI General 24-Mar-21
DRA General 22-Mar-21 ROYALIND General 24-Mar-21
EASTRED General 22-Mar-21 SUNCLAYLTD Interim Dividend 24-Mar-21
MISHKA General 22-Mar-21 SVPHOUSING General 24-Mar-21
MYSPAPE General 22-Mar-21 TVSMOTOR Interim Dividend 24-Mar-21
PATINTLOG Rights Issue 22-Mar-21 AHMDSTE General 25-Mar-21
PROFINC Preferential Issue of shares 22-Mar-21 FERVENTSYN General 25-Mar-21
RAILTEL Interim Dividend;Quarterly Results 22-Mar-21 GVFILM General 25-Mar-21
SKC General 22-Mar-21 JYOTIRES General 25-Mar-21
TELESYS General 22-Mar-21 SRTRANSFIN Interim Dividend 25-Mar-21
TIRUSTA General 22-Mar-21 UNIVSTAR General 25-Mar-21
ULTRACAB General 22-Mar-21 ABMKNO General 26-Mar-21
VAIBHAVGBL Stock  Split 22-Mar-21 CEINSYSTECH General 26-Mar-21
BLUECLOUDS Preferential Issue of shares 23-Mar-21 INDNIPPON Interim Dividend 26-Mar-21
IFCI Preferential Issue of shares 23-Mar-21 INDSUCR Issue Of Warrants;General 26-Mar-21
KDDL Right Issue;General 23-Mar-21 LUMAXIND General 26-Mar-21
KGPETRO General 23-Mar-21 PASUSPG Quarterly Results 26-Mar-21
MONEYBOXX General 23-Mar-21 PRIMEFRESH Bonus issue;General 26-Mar-21
NACLIND Interim Dividend 23-Mar-21 SHRIRAMCIT Interim Dividend;General 26-Mar-21
RAJNISH General 23-Mar-21 VISIONCO General 26-Mar-21
ROSSARI General 23-Mar-21 WARDINMOBI General;Voluntary Delisting of Shares 26-Mar-21
SAREGAMA Interim Dividend;General 23-Mar-21 ENCASH General 27-Mar-21
Source: BSE, Elite wealth Research

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