Indian Market Outlook:

The Key benchmark indices rose over 1% over the week led the positive global cues while Global markets were in a consolidation mode after previous weeks of strong rally. The Nifty ending the week 1.35 percent higher at 10383 points while Sensex ended 1.27 percent higher at 35171 points. The BSE Midcap index ended 3.55 percent higher, while the BSE Small cap index rose 2.88 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.556 crore while the DIIs were the net sellers of Rs.1309 crore. The Reserve Bank of India has started the ground work for a one-time restructuring scheme to help companies which are affected by the Covid-19 pandemic. A onetime loan restructuring scheme will allow banks to give more time for borrowers to pay back money, reduce interest rate, even take a haircut or a combination of all these depending upon the nature of the cases. Going Forward, geopolitical concerns and possibility of second wave of Covid-19 remain the near term risks which could impact investors sentiments. On Macro front Manufacturing PMI (Jun) of China, Nikkei Markit Manufacturing PMI of India, ISM Manufacturing PMI (Jun) of US are amongst a host of data releases scheduled for next week. Key Results to watch next week are BEL, Central Bank, Ircon international, Future Consumer, ONGC, PC Jeweller, Rites, NBCC, Tata Steel, Deepak Fertilizers, and SAIL.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,784.80 1.61 19.94 19.62 29.95
Silver 17.95 0.79 44.52 -0.83 16.94
Platinum 804.00 -2.50 31.50 -17.42 -1.05
USD/INR 75.62 -0.84 0.29 6.42 8.57
Crude 38.20 -3.17 70.31 -36.80 -28.94

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Global Weekly Events

Date Region Event Description Forecast Previous
Jun 30,2020 CNY Manufacturing PMI (Jun) 50.4 50.6
Jun 30,2020 INR Infrastructure Output (YoY) (May) -6.5%
Jul 01,2020 INR Nikkei Markit Manufacturing PMI 30.8
Jul 01,2020 USD ISM Manufacturing PMI (Jun) 49.0 43.1
Jul 01,2020 USD Crude Oil Inventories 1.442M

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.40%
Reserve Policy Rate 3.25% 3.75%
  Bank Rate 4.25% 4.65%
 Reserve Ratio CRR 3% 4%
SLR 18.00% 18.25%
 Inflation Rate Wholesale Price Index 0.00% 1.00%
  Consumer Price Index 5.68% 5.91%
 Trade Data Export ($ Million) 19050 10360
Import($ Million) 22200 17120
 Industry IIP -16.7% 4.6%

 

Domestic Indices Closing26th June) Change %Change
BSE Sensex           35,171.27 439.54 1.27
Nifty 10,383.00 138.60 1.35
Mid Cap 13,258.44 454.60 3.55
Small Cap 12,630.28 353.17 2.88
Bank Nifty 21,592.05 253.95 1.19

 

Global Indices Closing(26th June) Change %Change
Dow Jones 25,015.55 -855.91 -3.31
Nasdaq 9,757.22 -188.90 -1.90
FTSE 6,159.30 -133.30 -2.12
Nikkei 22,512.08 33.29 0.15
Hang Seng 24,549.99 -93.90 -0.38
Shanghai Com 2,979.55 11.92 0.40

 

Net Inflow (Cr) FII DII
22-Jun-2020 424.21 -1,287.69
23-Jun-2020 168.96 454.48
24-Jun-2020 1,766.90 -1,524.90
25-Jun-2020 -1,050.61 -255.59
26-Jun-2020 -753.18 1,304.18
Total 556.28 -1,309.52

 

Top Gainers Closing Price Prev Close Chg (%)
Indiabulls hsg 227.65 203.40 11.92
Hero MotoCorp 2540.45 2355.85 7.84
Bajaj Finance 2903.50 2698.60 7.59
Baja Auto 2867.60 2674.35 7.23
Larsen & Turbo 962.20 898.20 7.13

 

Top Losers Closing Price Prev Close Chg (%)
Yes Bank 26.75 28.00 -4.46
ICICI Bank 349.10 368.30 -4.04
HDFC 1769.35 1835.10 -3.58
Maruti Suzuki 5754.90 5897.35 -2.42
Bharti Airtel 560.40 572.50 -2.11

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Economic News:

  • S&P Global Ratings on Thursday said Indian economy is in deep trouble with growth expected to contract by 5% this fiscal. “India’s economy is in deep trouble. Difficulties in containing the virus, an anemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5% this fiscal year before rebounding in 2021,” S&P said in a report. In its report titled ‘Asia-Pacific losses near USD 3 trillion as balance sheet recession looms’, S&P projected the region’s economy to shrink by 1.3% in 2020, but grow by 6.9 % in 2021.

 

  • The Reserve Bank of India has started the ground work for a one-time restructuring scheme to help companies which are affected by the Covid-19 pandemic. The regulator is discussing contours of the plan internally and informally with senior bankers before a final decision is taken, said two people with direct knowledge of the matter, who spoke on condition of anonymity. A onetime loan restructuring scheme will allow banks to give more time for borrowers to pay back money, reduce interest rate, even take a haircut or a combination of all these depending upon the nature of the cases.

 Industry News:

  • Airlines have been allowed to increase domestic flight operations to 45 per cent capacity from the existing 33 per cent. The civil aviation ministry has asked Directorate General of Civil Aviation (DGCA) to prepare the new schedule with additional routes under the new arrangement. The decision has been taken after a review of the current status of domestic scheduled operations as compared to the demand for air travel, according to a circular by Ministry of Civil Aviation. The order comes close on the heels of DGCA announcement that international scheduled commercial flights will remain suspended till July 15. However, international scheduled flights might be allowed to operate on selected routes, the aviation regulator had noted in a circular on Friday.

 

  • With severe economic disruptions impacting cash flows of borrowers, the asset quality of housing finance companies (HFCs) is likely to worsen, said rating agency ICRA on Friday. Gross non-performing assets (NPAs) of HFCs are estimated to increase to 2.5-3 per cent in FY21 from an estimate of 1.7 per cent as of March this year. The situation in the non-housing segment is expected to be worse, leading to overall GNPAs of 3-4.5 per cent by the end of FY21, from an estimated 2.5 per cent as of FY20.

  Company News:

  • Coal India Ltd. reported a decline in quarterly profit due to flat sales growth and lower realizations. Net profit fell 23% year-on-year to Rs 4,638 crore in the quarter ended March, the world’s largest coal miner said in an exchange filing. During the quarter, Coal India reported sales volume of 164.5 million tonnes compared with 163 million tonnes in the same period a year ago. Volume remained flat particularly due to the lower demand from the power sector in the second half of March as India implemented the world’s harshest lockdown to curb the spread of Covid-19.

 

  • ITC on Friday reported a 9% year-on-year jump in its standalone net profit to Rs 3,797.08 crore for the fourth quarter ended March 31, on the back of lower tax expenses, although its gross revenue witnessed a fall of around 6% year-on-year. The cigarette-to-FMCG-to-hotel major had posted Rs 3,481.90 crore net profit for the fourth quarter of FY19. Its gross revenue from sale for the period January-March this year decreased by 6.33% y-o-y at Rs 11,300.05 crore. The company’s tax expenses during the period under review fell 51.4% y-o-y at Rs 714.76 crore from Rs 1,472.01 crore from the year-ago period.

 

  • Carlyle Group will purchase a 20% stake in Indian billionaire Ajay Piramal’s pharmaceutical business, according to an exchange filing. The private equity fund will pay $490 million for the holding, valuing the business at an enterprise value of $2.7 billion. In addition to helping expand capacity of the pharmaceutical operations, the Piramal group will use the money to repay some of parent Piramal Enterprises Ltd.’s debt, the filing said. “This infusion of funds will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy,” Ajay Piramal, chairman of Piramal Enterprises, said in the filing.

Global News:

  • S. consumer spending surged by a record in May — while remaining well below pre-pandemic levels — as Americans spent relief payments and ventured out of their homes to newly reopened stores and restaurants.

  • The Federal Reserve told the biggest U.S. banks they can’t increase dividends or resume buybacks through at least the third quarter as uncertainty over the course of a global pandemic weighs on lenders. The industry performed well in annual stress tests, according to a statement Thursday from the central bank, but a separate review of the effects of the coronavirus on the economy and financial system uncovered potential risks that left the fate of their dividends in question.

 (Source: Bloomberg Quint, Economic Times, Business Today, Business Standard, Financial Express, Investing, Moneycontrol, livemint)

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name   Ex-Date  Purpose
NAM-INDIA 29-Jun-20 Final Dividend – Rs. – 2.00 HINDPETRO 2-Jul-20 Final Dividend – Rs. – 9.75
SANOFI 29-Jun-20 Special Dividend – Rs. – 243.00 JUSTDIAL 2-Jul-20 Buy Back of Shares
SANOFI 29-Jun-20 Final Dividend – Rs. – 106.00 KARDA 2-Jul-20 Stock  Split From Rs.10/- to Rs.2/-
ABFRL 30-Jun-20 Right Issue of Equity Shares MPHASIS 2-Jul-20 Final Dividend – Rs. – 35.00
HEXAWARE 30-Jun-20 Interim Dividend – Rs. – 3.00 RELIANCE 2-Jul-20 Dividend – Rs. – 6.50
LAURUSLABS 1-Jul-20 Final Dividend – Rs. – 1.00 SUNDARMFIN 2-Jul-20 Final Dividend – Rs. – 3.00
TATAINVEST 1-Jul-20 Dividend – Rs. – 18.00 SWARAJENG 2-Jul-20 Dividend – Rs. – 25.00
AMRITCORP 2-Jul-20 Buy Back of Shares SWARAJENG 2-Jul-20 Special Dividend – Rs. – 15.00
BALRAMCHIN 2-Jul-20 Buy Back of Shares TAHL 2-Jul-20 Bonus issue 1:4

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
ALAN SCOTT Audited Results 29-Jun-20 DHAMPURE Audited Results 30-Jun-20
ALBERTDA General;Quarterly Results 29-Jun-20 DHANADACO Audited Results;Quarterly Results 30-Jun-20
ALFL Audited Results 29-Jun-20 DISHTV Audited Results 30-Jun-20
ANDHRACEMT Quarterly Results 29-Jun-20 DRL Audited Results;Quarterly Results 30-Jun-20
AUROLAB Audited Results;General 29-Jun-20 FCONSUMER Audited Results 30-Jun-20
BAJAJHIND Audited Results 29-Jun-20 GUJAPOLLO Audited Results;Final Dividend 30-Jun-20
BALAJITELE Audited Results 29-Jun-20 HCG Audited Results;General 30-Jun-20
BALPHARMA Audited Results 29-Jun-20 ICRA Audited Results;Dividend 30-Jun-20
BDL Audited Results;Final Dividend 29-Jun-20 IDEA Audited Results 30-Jun-20
BEARDSELL Audited Results 29-Jun-20 IRCON Audited Results;Final Dividend 30-Jun-20
BEL Audited Results;Final Dividend 29-Jun-20 KPT Final Dividend;Quarterly Results 30-Jun-20
BIL Audited Results 29-Jun-20 LAOPALA Dividend;Quarterly Results 30-Jun-20
BPL Audited Results;General 29-Jun-20 MADHUVEER Audited Results;General 30-Jun-20
CANTABIL Quarterly Results 29-Jun-20 MAHANIN Audited Results;Reduction of Capital 30-Jun-20
CENTRALBK Audited Results 29-Jun-20 MAHASTEEL Audited Results;Dividend 30-Jun-20
CESC Audited Results 29-Jun-20 MIDHANI Audited Results;Final Dividend 30-Jun-20
CESL Audited Results 29-Jun-20 MSPL Audited Results 30-Jun-20
DHANFAB Audited Results 29-Jun-20 MTPL Audited Results;Quarterly Results 30-Jun-20
EPIC Audited Results 29-Jun-20 MYMONEY Audited Results 30-Jun-20
GMRINFRA Audited Results 29-Jun-20 NATURAL Audited Results 30-Jun-20
GRAVITY Audited Results;Quarterly Results 29-Jun-20 NBCC Audited Results;Final Dividend 30-Jun-20
HINDCOPPER Audited Results 29-Jun-20 NTCIND Audited Results 30-Jun-20
IFSL Audited Results 29-Jun-20 ONGC Audited Results;Final Dividend 30-Jun-20
IL&FSENGG Quarterly Results 29-Jun-20 PARAGONF Audited Results 30-Jun-20
IRIS Audited Results 29-Jun-20 PARMSILK Audited Results 30-Jun-20
J&KBANK Audited Results 29-Jun-20 PCJEWELLER Audited Results 30-Jun-20
KIRIINDUS Final Dividend;Quarterly Results 29-Jun-20 RAINBOWF Audited Results 30-Jun-20
MANGALAM Audited Results;General 29-Jun-20 RESONANCE Audited Results 30-Jun-20
MRF Audited Results;Final Dividend 29-Jun-20 RITES Audited Results;Final Dividend 30-Jun-20
MSTC Audited Results;Dividend 29-Jun-20 RMCL Audited Results 30-Jun-20
NETTLINX Audited Results;Quarterly Results 29-Jun-20 SAIL Audited Results 30-Jun-20
NEWINFRA Audited Results 29-Jun-20 SIL Audited Results;Dividend 30-Jun-20
ORCHIDPHAR Audited Results 29-Jun-20 SMARTLINK Audited Results 30-Jun-20
PARAGMILK Audited Results;Dividend 29-Jun-20 SOUTHERNIN Audited Results 30-Jun-20
PCJEWELLER Audited Results 29-Jun-20 SPACEAGE Audited Results 30-Jun-20
PHOENIXLTD Results;Right Issue;Pref.Issue 29-Jun-20 STARCOM Audited Results 30-Jun-20
PSB Audited Results 29-Jun-20 SUNDARAM Audited Results 30-Jun-20
PUNITCO Audited Results 29-Jun-20 SUPERBAK Audited Results;Quarterly Results 30-Jun-20
PUNJABCHEM Audited Results;Final Dividend 29-Jun-20 SUPERHOUSE Audited Results;Dividend 30-Jun-20
PURITY Audited Results 29-Jun-20 TANVI Audited Results;Half Yearly Results 30-Jun-20
PURSHOTTAM Audited Results 29-Jun-20 TGVSL Audited Results;General 30-Jun-20
RCOM Audited Results 29-Jun-20 TITAANIUM Audited Results 30-Jun-20
SCOOTER Audited Results 29-Jun-20 TITANBIO Audited Results;Final Dividend 30-Jun-20
SREINFRA Audited Results;Final Dividend 29-Jun-20 TITANSEC Audited Results 30-Jun-20
SURAJ Audited Results 29-Jun-20 TRIVENIENT Audited Results;Quarterly Results 30-Jun-20
SURFI Audited Results;General 29-Jun-20 VAMSHIRU Audited Results 30-Jun-20
TATASTEEL Results;Final Dividend;General 29-Jun-20 EVEREADY Audited Results;Dividend 1-Jul-20
VIRPOLY Audited Results 29-Jun-20 INTENTECH Audited Results;Dividend 1-Jul-20
WELSPUNIND Audited Results 29-Jun-20 TEJASSVI Audited Results 1-Jul-20
APLAPOLLO Audited Results 30-Jun-20 WPIL Audited Results 2-Jul-20
APOLLOFI Audited Results 30-Jun-20 ADCINDIA General 3-Jul-20
BAJAJHCARE Audited Results 30-Jun-20 DUROPLY A.G.M.;;General;Quarterly Results 3-Jul-20
BCPL Half Yearly Results 30-Jun-20 GATI Audited Results;Quarterly Results 3-Jul-20
BEEYU Audited Results 30-Jun-20 INDGELA Audited Results;Dividend 3-Jul-20
BENARA Quarterly Results 30-Jun-20 INDOGLOBAL Audited Results 3-Jul-20
BGRENERGY Audited Results 30-Jun-20 IWP Audited Results;Dividend 3-Jul-20
CALCOM Audited Results;Quarterly Results 30-Jun-20 SHIVAEXPO Audited Results 3-Jul-20
CONTROLPR Audited Results;Dividend 30-Jun-20 HEMORGANIC Quarterly Results 4-Jul-20
CUPID General;Quarterly Results 30-Jun-20 MERCATOR Audited Results 4-Jul-20
DEEPAKFERT Audited Results;Dividend;General 30-Jun-20 PRECISIO Audited Results 4-Jul-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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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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