Indian Market Outlook:

The Key benchmark indices rose over 1 percent over the week on expectations of stimulus announcement both in U.S. and India. In- Line September quarter results are also dragging the market higher. Nifty ended the week 1.43 percent higher at 11930 points while Sensex ended 1.76 percent higher at 40685 points. Broader market outperformed the Key benchmark indices. BSE Midcap index ended 2.43 percent higher, while the BSE Small cap index rose 2.35 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.7375 crore while the DIIs were the net sellers of Rs.7800 crore. Foreign portfolio investors have bought shares worth over Rs 15,000 crore in October so far. Quarterly earnings released so far indicate economic recovery, with cement companies posting robust volume and margin growth. Demand revival was also visible from pharmaceuticals and FMCG numbers. The next week ahead is going to be a busy one with earnings from major large caps and midcap firms. The heavy weight Reliance will release its September quarter numbers on 30th October. Other key results to watch next week are Kotak Mahindra Bank, Mahindra & Mahindra Financial Services, SBI Life Insurance, Bharti Airtel, ICICI Prudential Life Insurance, Tata Motors, Axis Bank, Dr Reddy’s Labs, Hero Motocorp, Larsen & Toubro, Marico, RBL Bank, Titan Company, Bank Of Baroda, Canara Bank, Havells India, Maruti Suzuki, TVS Motor Company, ICCI Bank and UPL. On Macro Front infrastructure output data is scheduled to release on October 30.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,905.20 -0.06 -1.04 9.43 24.21
Silver 24.67 1.11 7.96 52.76 36.30
Platinum 908.60 4.96 2.59 15.66 -2.01
USD/INR 73.84 0.54 -1.23 -3.19 4.04
Crude 39.75 -2.57 -3.73 134.65 -29.31

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Global Weekly Events

Date Region Event Description Forecast Previous
Oct 26,2020 USD New Home Sales (Sep) 1025k 1011k
Oct 28,2020 USD Crude Oil Inventories -1.001M
Oct 29,2020 USD GDP (QoQ) (Q3)  31.9% -31.4%
Oct 30,2020 INR Federal Fiscal Deficit (Sep) 8703.47B
Oct 30,2020 INR Infrastructure Output (YoY) (Sep) -8.5%
Oct 30,2020 INR Trade Balance (USD) -10.107B

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 1.32% 0.16%
Consumer Price Index 7.34% 6.69%
 Trade Data Export ($ Million) 27580 22700
Import($ Million) 30310 29470
 Industry IIP -8% -10.4%

 

Domestic Indices Closing(23rd October) Change %Change
BSE Sensex 40,685.50 702.52 1.76
Nifty 11,930.35 167.90 1.43
Mid Cap 14,976.10 354.79 2.43
Small Cap 15,134.59 348.03 2.35
Bank Nifty 24,478.30 945.05 4.02

 

Global Indices Closing(23rd October) Change %Change
Dow Jones 28,335.57 -270.74 -0.95
Nasdaq 11,692.57 -159.60 -1.35
FTSE 5,860.28 -59.30 -1.00
Nikkei 23,516.59 105.96 0.45
Hang Seng 24,918.78 531.99 2.18
Shanghai Com 3,278.00 -58.36 -1.75

 

Net Inflow (Cr) FII DII
19-Oct-2020 1,656.78 -1,621.73
20-Oct-2020 1,585.07 -1,633.23
21-Oct-2020 2,108.48 -1,633.53
22-Oct-2020 1,118.46 -2,019.87
23-Oct-2020 906.93 -891.86
Total 7,375.72 -7,800.22

 

Top Gainers Closing Price Prev Close Chg (%)
Vedanta 104.75 94.90 10.38
Bharti Airtel 434.40 401.65   8.15
Tata Steel 423.45 393.85 7.52
NTPC 86.25 80.30  7.41
Axis Bank 507.20 472.40 7.37

 

Top Losers Closing Price Prev Close Chg (%)
Britannia 3469.75 3747.20 -7.40
Hero MotoCorp 3111.05 3346.45  -7.03
Eicher Motors 2181.90 2269.90 -3.88
UPL 450.95 466.95 -3.43
Cipla 757.55 782.35 -3.17

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Economic News:

  • India’s coal import rose 11.6% to 19.04 million tonnes in September on account of a recovery in consumption by thermal power plants and other industries as also helped by competitive prices in international markets. The country imported 17.06 million tonnes of coal in September 2019, showed data available with mjunction Services Ltd. — a joint venture between Tata Steel Ltd. and Steel Authority of India Ltd., which is a business-to-business e-commerce company, and publishes research reports on coal and steel verticals.

 

  • The government will seek Parliament’s approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.

 Industry News:

  • Indian airlines have already achieved over 55% of pre-COVID capacity with the Directorate General of Civil Aviation (DGCA) approving 12,983 domestic departures for the winter schedule starting today. According to the official data, Indian airlines operated 23,307 departures a week during the winter schedule last year. “These numbers are on the basis of a current approved plan, which can be increased as and when the need arises,” said a senior government official, who did not want to be identified.

 

  • The Indian government has issued guidelines to banks for implementing a waiver of compound interest or interest-on-interest for a six-month period between March and August 2020. Details of the scheme were notified on October 23, with the government asking lenders to implement the scheme by Nov. 5. The categories identified include: MSME loans Education loans Housing loans Consumer durable loans Credit card dues Auto loans Personal loans to professionals Consumption loans The scheme mandates ex-gratia payment by way of crediting the difference between simple interest and compound interest.

Company News:

  • Nestle India Ltd.’s net sales rose on improving demand in the first full quarter of operations after India eased lockdown curbs and factories limped back to normal capacities. Revenue of Nestle India—which follows January-December fiscal—increased 10% over the year ago to Rs 3,541.7 crore in the quarter ended September, according to its exchange filing. That compares with the Rs 3,442.6-crore consensus estimate of analysts tracked by Bloomberg. The maker of Maggi noodles and Kit Kat chocolate, however, saw its profit decline 1% year-on-year to Rs 587 crore. The estimate was Rs 573.2 crore. The bottom line fell because the profit was boosted in the year-ago quarter after India cut corporate tax rates.

 

  • Yes Bank Ltd.’s profit rose sequentially even as the private lender set aside higher provisions in the second quarter. The bank reported a net profit of Rs 129 crore for the quarter ended September, up from Rs 45 crore in the preceding three months, according to its exchange filing. The lender had reported a loss of Rs 600 crore a year earlier. The profit was aided by a fall in operating expenses. Net interest income, or core income for the bank, rose 3.4% over the previous quarter to Rs 1,973 crore in July-September. It had reported an NII of Rs 2,186 crore a year earlier.

 

  • The board of Vedanta Ltd. has declared an interim dividend of Rs 9.50 per share, at its meeting held on Saturday. The company had earlier intimated that the record date for the dividend was set as October 31, 2020. The dividend payout will amount to Rs 3,500 crore, the company informed exchanges.

Global News:

  • S. business activity grew in October at the strongest pace since February 2019 and business expectations advanced to a more than two-year high, underscoring solid momentum for the recovery at the start of the fourth quarter. The IHS Markit flash composite index of purchasing managers at manufacturers and service providers increased to 55.5 from 54.3, the group reported Friday.

 

  • President Donald Trump and Democratic nominee Joe Biden met for the last time before the Nov. 3 election, with a debate more orderly but just as spirited as their first face-off last month. The two candidates challenged each other on their tax plans, the environment, their business interests and the pandemic.

(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
LTTS 26-Oct-20 Interim Dividend – Rs. – 7.50 FOSECOIND 28-Oct-20 Interim Dividend – Rs. – 5.00
MINDTREE 26-Oct-20 Interim Dividend – Rs. – 7.50 GMM 28-Oct-20 Interim Dividend – Rs. – 1.00
PRIVISCL 26-Oct-20 Dividend – Rs. – 1.50 GRANULES 28-Oct-20 Interim Dividend – Rs. – 0.2500
TOWERINFRA 26-Oct-20 Income Distribution (InvIT) HINDUNILVR 28-Oct-20 Interim Dividend – Rs. – 14.00
VRFILMS 26-Oct-20 Dividend – Rs. – 1.00 KIOCL 28-Oct-20 Buy Back of Shares
HINDZINC 27-Oct-20 Interim Dividend – Rs. – 21.30 SASKEN 28-Oct-20 Interim Dividend – Rs. – 10.00
LTI 27-Oct-20 Interim Dividend – Rs. – 15.00 VEDL 28-Oct-20 Interim Dividend
ASIANPAINT 28-Oct-20 Interim Dividend – Rs. – 3.3500 COLPAL 29-Oct-20 Interim Dividend – Rs. – 18.00
CCL 28-Oct-20 Interim Dividend – Rs. – 2.00 NESTLEIND 29-Oct-20 Interim Dividend – Rs. – 135.00
CONFIPET 28-Oct-20 Final Dividend – Rs. – 0.0750 OCTAWARE 29-Oct-20 E.G.M.
DHINDIA 28-Oct-20 E.G.M. TECHM 29-Oct-20 Special Dividend – Rs. – 15.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
ANGELBRKG Quarterly Results 26-Oct-20 VGUARD Quarterly Results 28-Oct-20
COSMOFILMS Buy Back of Shares;General 26-Oct-20 3PLAND Quarterly Results 29-Oct-20
ESTER Interim Dividend;Quarterly Results 26-Oct-20 APOLLOPIPES Quarterly Results 29-Oct-20
FINOLEXIND Quarterly Results 26-Oct-20 ARTEMISELC Quarterly Results 29-Oct-20
GHCL Quarterly Results 26-Oct-20 ARVIND Quarterly Results 29-Oct-20
KOTAKBANK Quarterly Results 26-Oct-20 ASTEC Quarterly Results 29-Oct-20
M&MFIN Quarterly Results 26-Oct-20 BAJAJHCARE Quarterly Results 29-Oct-20
POLYMED General;Quarterly Results 26-Oct-20 BANKBARODA Quarterly Results 29-Oct-20
SBILIFE Quarterly Results 26-Oct-20 BGJL A.G.M. 29-Oct-20
SWARAJENG Quarterly Results 26-Oct-20 BHAGYFN Quarterly Results 29-Oct-20
TIMEX Quarterly Results 26-Oct-20 BLUEDART Quarterly Results 29-Oct-20
TORNTPHARM Quarterly Results 26-Oct-20 BPCL Quarterly Results 29-Oct-20
63MOONS Quarterly Results 27-Oct-20 CANBK Quarterly Results 29-Oct-20
ACCELYA Quarterly Results 27-Oct-20 COROENGG Quarterly Results 29-Oct-20
AMARAJABAT Quarterly Results 27-Oct-20 CREATIVE Quarterly Results 29-Oct-20
BHARTIARTL Quarterly Results 27-Oct-20 DATASOFT Quarterly Results 29-Oct-20
CASTROLIND Quarterly Results 27-Oct-20 DBSTOCKBRO General;Quarterly Results 29-Oct-20
CEATLTD Quarterly Results 27-Oct-20 DENORA Quarterly Results 29-Oct-20
GUJARATPOLY Quarterly Results 27-Oct-20 HAVELLS Quarterly Results 29-Oct-20
ICICIPRULI Quarterly Results 27-Oct-20 HINDCOPPER General 29-Oct-20
JMFINANCIL Quarterly Results 27-Oct-20 IDEA Quarterly Results 29-Oct-20
KPRMILL Quarterly Results 27-Oct-20 INDIGO Quarterly Results 29-Oct-20
KRITIIND Quarterly Results 27-Oct-20 JKPAPER* General;Quarterly Results 29-Oct-20
KRITINUT Quarterly Results 27-Oct-20 LAURUSLABS Interim Dividend;Quarterly Results 29-Oct-20
MANINDS Interim Dividend;Quarterly Results 27-Oct-20 MARUTI Quarterly Results 29-Oct-20
NETWORK18 Quarterly Results 27-Oct-20 MASTEK Interim Dividend;Quarterly Results 29-Oct-20
ORIENTBELL Quarterly Results 27-Oct-20 MRPL Quarterly Results 29-Oct-20
PAUSHAKLTD Quarterly Results 27-Oct-20 ORIENTCEM Quarterly Results 29-Oct-20
RISHDIGA General 27-Oct-20 SIS Quarterly Results 29-Oct-20
SANOFI Quarterly Results 27-Oct-20 SRTRANSFIN Interim Dividend;Quarterly Results 29-Oct-20
SHREEGANES Quarterly Results 27-Oct-20 STAR Quarterly Results 29-Oct-20
SKFINDIA Quarterly Results 27-Oct-20 TATACHEM Audited Results;Quarterly Results 29-Oct-20
SPANDANA General 27-Oct-20 TECHCON Quarterly Results 29-Oct-20
SUVEN Quarterly Results 27-Oct-20 TVSMOTOR Quarterly Results 29-Oct-20
TATAMOTORS Quarterly Results 27-Oct-20 VAIBHAVGBL Interim Dividend;Quarterly Results 29-Oct-20
TV18BRDCST Quarterly Results 27-Oct-20 ZENSARTECH Quarterly Results 29-Oct-20
VSTIND Quarterly Results 27-Oct-20 DEEPAKNI Quarterly Results 30-Oct-20
APLAPOLLO Quarterly Results;Stock  Split 28-Oct-20 DHANUKA Quarterly Results 30-Oct-20
APTECHT Quarterly Results 28-Oct-20 DIXON ESOP;Quarterly Results 30-Oct-20
AUBANK Quarterly Results 28-Oct-20 DLF Quarterly Results 30-Oct-20
AXISBANK Quarterly Results 28-Oct-20 EMKAY Quarterly Results 30-Oct-20
BALAMINES ESOP;Quarterly Results 28-Oct-20 ESCORTSFIN Quarterly Results 30-Oct-20
BLUESTARCO Quarterly Results 28-Oct-20 GRINDWELL Quarterly Results 30-Oct-20
CANFINHOME General;Quarterly Results 28-Oct-20 INDUSINDBK Quarterly Results 30-Oct-20
CGPOWER Quarterly Results 28-Oct-20 INTELLECT Quarterly Results 30-Oct-20
CUMMINSIND Quarterly Results 28-Oct-20 IOC General;Quarterly Results 30-Oct-20
DRREDDY Quarterly Results 28-Oct-20 IRBINVIT Quarterly Results 30-Oct-20
HERITGFOOD Quarterly Results 28-Oct-20 JINDALSTEL Quarterly Results 30-Oct-20
HEROMOTOCO Quarterly Results 28-Oct-20 JSL Quarterly Results 30-Oct-20
ISEC Interim Dividend;Quarterly Results 28-Oct-20 JUSTDIAL General;Quarterly Results 30-Oct-20
LT Quarterly Results;Special Dividend 28-Oct-20 MFSL Quarterly Results 30-Oct-20
MARICO Interim Dividend;Quarterly Results 28-Oct-20 MOTILALOFS Quarterly Results 30-Oct-20
MAXINDIA Quarterly Results 28-Oct-20 NIITLTD Quarterly Results 30-Oct-20
MCX Quarterly Results 28-Oct-20 NUCLEUS Audited Results 30-Oct-20
NAVINFLUOR Interim Dividend;Quarterly Results 28-Oct-20 ORACLECR Quarterly Results 30-Oct-20
ORIENTELEC Quarterly Results 28-Oct-20 RAIN Interim Dividend;Quarterly Results 30-Oct-20
PEL Quarterly Results 28-Oct-20 RELIANCE Quarterly Results 30-Oct-20
PNBHOUSING Quarterly Results 28-Oct-20 RISHIROOP Quarterly Results 30-Oct-20
RADICO Quarterly Results 28-Oct-20 SOLARA Quarterly Results 30-Oct-20
RBLBANK Quarterly Results 28-Oct-20 SUVENPHAR Quarterly Results 30-Oct-20
ROUTE Quarterly Results 28-Oct-20 SYSCHEM Quarterly Results 30-Oct-20
SCHAEFFLER Quarterly Results 28-Oct-20 TECHIN Quarterly Results 30-Oct-20
SHARDACROP General;Quarterly Results 28-Oct-20 UPL Quarterly Results 30-Oct-20
SNOWMAN Quarterly Results 28-Oct-20 VAKRANGEE Quarterly Results 30-Oct-20
SUPREMEIND Interim Dividend;Quarterly Results 28-Oct-20 VOITHPAPR General;Quarterly Results 30-Oct-20
TATACOFFEE Quarterly Results 28-Oct-20 ZEEMEDIA Quarterly Results 30-Oct-20
THYROCARE Interim Dividend;Quarterly Results 28-Oct-20 DCBBANK Quarterly Results 31-Oct-20
TITAN Quarterly Results 28-Oct-20 ICICIBANK Quarterly Results 31-Oct-20
UTIAMC A.G.M.;Final Dividend;Results 28-Oct-20 IDFCFIRSTB General;Quarterly Results 31-Oct-20
UTTAMSUGAR Quarterly Results 28-Oct-20 RELAXO Quarterly Results 31-Oct-20

Source: BSE, Elite wealth Research

Major Economy Indicators

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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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