Indian Market Outlook:
The Key benchmark indices fell over 2% over the week tracking broader losses in global equities on loosing optimism about a fast recovery from the coronavirus pandemic. India too added over 86,000 cases in 24 hours as of 8 a.m. on Sept. 5, taking the total tally over 40 lakh. Nifty ended the week 2.69 percent lower at 11334 points while Sensex ended 2.81 percent lower at 38357 points. BSE Midcap index ended 2.76 percent lower, while the BSE Small cap index fell 2.59 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.3799 crore while the DIIs were the net sellers of Rs.1088 crore. The market remained cautious on weaker-than-expected GDP prints and weak GST collections even while PMI and auto sales showed some improvement. On the economy front, real GDP growth of negative 23.9% for Q1FY20 revealed the extent of economic damage from Covid-19. Going forward Indo-China border tensions, rising cases of infections, global market correction and valuations are the key risks in our view. Meanwhile Vodafone Idea on Friday decided to raise up to Rs 25,000 crore by way of share sale and debt. The board of directors of the company decided to raise the funds via equity share sale of up to Rs 15,000 crore and another tranche of up to Rs 15,000 crore via a public offer or private placement of non-convertible debentures. However, the total will not exceed Rs 25,000 crore.
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Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1,940.80 | -1.63 | 9.92 | 22.35 | 23.20 | |||||
| Silver | 27.09 | -1.81 | 46.43 | 122.60 | 45.02 | |||||
| Platinum | 940.90 | -0.02 | 7.77 | 58.08 | 4.34 | |||||
| USD/INR | 73.29 | 0.25 | -3.06 | 0.56 | 2.05 | |||||
| Crude | 39.50 | -8.05 | 11.30 | -15.51 | -29.19 | |||||
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Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| Sep 10,2020 | USD | PPI (MoM) (Aug) | 0.2% | 0.6% |
| Sep 10,2020 | USD | Crude Oil Inventories | -1.887M | -9.362M |
| Sep 11,2020 | GBP | GDP (YoY) | -21.7% | -1.7% |
| Sep 11,2020 | INR | Manufacturing Output (MoM) (Jul) | – | -17.1% |
| Sep 11,2020 | INR | Industrial Production (YoY) (Jul) | -20.0% | -16.6% |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 4.00% | 4.00% |
| Reserve Policy Rate | 3.25% | 3.25% | |
| Bank Rate | 4.25% | 4.25% | |
| Reserve Ratio | CRR | 3% | 3% |
| SLR | 18.00% | 18.00% | |
| Inflation Rate | Wholesale Price Index | -0.58% | -1.81% |
| Consumer Price Index | 6.93% | 6.23% | |
| Trade Data | Export ($ Million) | 23640 | 21910 |
| Import($ Million) | 28470 | 21110 | |
| Industry | IIP | -16.6% | -34% |
| Domestic Indices | Closing(4th September) | Change | %Change |
| BSE Sensex | 38,357.18 | -1,110.13 | -2.81 |
| Nifty | 11,333.85 | -313.75 | -2.69 |
| Mid Cap | 14,817.06 | -421.08 | -2.76 |
| Small Cap | 14,602.97 | -387.58 | -2.59 |
| Bank Nifty | 23,011.50 | -1,512.30 | -6.17 |
| Global Indices | Closing(4th September) | Change | %Change |
| Dow Jones | 28,133.31 | -520.56 | -1.82 |
| Nasdaq | 11,313.14 | -382.49 | -3.27 |
| FTSE | 5,799.08 | -164.49 | -2.76 |
| Nikkei | 23,205.43 | 322.78 | 1.41 |
| Hang Seng | 24,695.45 | -726.61 | -2.86 |
| Shanghai Com | 3,355.37 | -48.44 | -1.42 |
| Net Inflow (Cr) | FII | DII |
| 31-Aug-2020 | -3,395.49 | 680.88 |
| 01-Sep-2020 | 486.09 | -775.23 |
| 02-Sep-2020 | 990.57 | -657.48 |
| 03-Sep-2020 | 7.72 | 120.08 |
| 04-Sep-2020 | -1,888.78 | -456.88 |
| Total | -3,799.89 | -1088.63 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| Bharti Infratel | 214.85 | 201.50 | 6.63 |
| Tata Motors | 147.80 | 142.80 | 3.50 |
| Zee Ent. | 220.40 | 213.85 | 3.06 |
| TCS | 2288.80 | 2238.55 | 2.24 |
| Titan | 1159.25 | 1134.10 | 2.22 |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| Indiabulls Housing | 192.75 | 223.90 | -13.91 |
| Axis Bank | 455.20 | 509.20 | -10.60 |
| ICICI Bank | 372.55 | 409.75 | -9.07 |
| SBI | 206.60 | 224.85 | -8.12 |
| Sun Pharma | 512.45 | 555.75 | -7.79 |
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Economic News:
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India’s gold imports more than doubled last month ahead of the start of key festivals in the world’s second-biggest bullion consumer. Inbound shipments climbed to 35.5 tons in August from 14.8 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Imports were also higher than July’s 25.5 tons. The country is about to enter its key season for weddings and festivals, peaking with Diwali in November, which usually sees gold demand rise as buying and gifting the precious metal is considered auspicious.
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India continued to add new coronavirus cases at a record pace even as the government implored people view the rising infections in context of the country’s 1.3 billion population. India added over 86,000 cases in 24 hours, taking the total tally over 40 lakh in the world’s second-most populous country, according to the Health Ministry’s update as of 8 a.m. on Sept. 5. This includes nearly 70,000 deaths and over 31 lakh patients who have recovered.
Industry News:
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In a move seen as a protectionist measure, the government on Friday said that import duty on cars and completely and semi-knocked down assemblies (CKD and SKD) could be raised as it also advised foreign makers to reduce the amount of royalty payments that they charge on their subsidiaries. Commerce and industry Minister Piyush Goyal told a conference of auto industry professionals that manufacturing in India needs to be strengthened further for which the government would look at a number of measures, including boosting exports and even taking a relook at a free trade agreement with the European Union.
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A group of pharma companies are reportedly planning to stand together against the release of any coronavirus vaccine till all safety protocols are complete. The firms may issue a joint pledge in the coming week that they would not send any COVID-19 vaccine to the US Food and Drug Administration (FDA) for review without being satisfied with its potency and safety standards. It comes as the US President Donlad Trump is seen by many as pushing for a vaccine to be ready by October, ahead of the presidential election.
Company News:
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Future Retail Ltd plunged to a net loss of Rs. 470.61 crore in the March quarter compared to a net profit of Rs.203.17 crore in the year-ago, underscoring the financial stress at one of India’s prominent retail chains and curbs on operational hours at its stores due to the coronavirus pandemic. Standalone revenue from operations fell by 17.3% from Rs. 5,396.60 crore in the fourth quarter of FY20 to Rs. 4,445.35 crore during January-March 2020. Future Retail runs large-format retail stores, including FBB, Big Bazaar, Nilgiris and Easyday.
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Vodafone Idea board has approved a fund-raising plan to secure Rs 25,000 crore as concerns over the company’s finances deepen. Vodafone Idea said that it will raise up to Rs 15,000 crore through issue of equity shares or securities convertible into equity shares, Global Depository Receipts, American Depository Receipts, foreign currency convertible bonds, convertible debentures, warrants, composite issue of non-convertible debentures and warrants.
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Reliance Industries Ltd (RIL) has offered all 13 financial and strategic investors of Jio Platforms the option to invest in its Reliance Retail Ventures Ltd (RRVL) unit, two people aware of the developments said. These investors, include Facebook, Google, KKR, Silver Lake and TPG. They helped RIL amass a total of Rs.1.52 trillion in the past few months by picking up a combined 33% stake in its digital unit, Jio Platforms.
Global News:
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The U.S. labor-market rebound extended for a fourth month in August, offering hope that the economy can continue to recover despite a persistent pandemic and Washington’s standoff over further government aid to jobless Americans and small businesses. Nonfarm payrolls increased by 1.37 million, including the hiring of 238,000 temporary Census workers, according to a Labor Department report Friday.
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Beijing is allowing faster gains in the yuan as it seeks to cheapen imports and bolster weak consumer spending. That’s one theory touted by DBS Bank Ltd. and Mizuho Bank Ltd., who say a stronger yuan is ideal for Beijing at a time when Chinese President Xi Jinping is pushing for a more self-reliant economy.
(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 |
| ELECTCAST | 7-Sep-20 | Final Dividend – Rs. – 0.30 | HEIDELBERG | 10-Sep-20 | Final Dividend – Rs. – 6.00 |
| HIKAL | 7-Sep-20 | Final Dividend – Rs. – 0.20 | HLEGLAS | 10-Sep-20 | Dividend – Rs. – 2.50 |
| HIRECT | 7-Sep-20 | Final Dividend – Rs. – 0.80 | HUDCO | 10-Sep-20 | Final Dividend – Rs. – 2.3500 |
| KKCL | 7-Sep-20 | Final Dividend – Rs. – 1.00 | IONEXCHANG | 10-Sep-20 | Dividend – Rs. – 1.50 |
| NCC | 7-Sep-20 | Dividend – Rs. – 0.20 | JOINDRE | 10-Sep-20 | Final Dividend – Rs. – 0.60 |
| PANAENERG | 7-Sep-20 | Final Dividend – Rs. – 4.00 | LINDEINDIA | 10-Sep-20 | Final Dividend – Rs. – 2.50 |
| POLYSPIN | 7-Sep-20 | Stock Split From Rs.10/- to Rs.5/- | LINDEINDIA | 10-Sep-20 | Special Dividend – Rs. – 7.50 |
| POLYSPIN | 7-Sep-20 | Bonus issue 1:4 | MOIL | 10-Sep-20 | Final Dividend – Rs. – 3.00 |
| SUBROS | 7-Sep-20 | Final Dividend – Rs. – 0.80 | PICCADIL | 10-Sep-20 | Final Dividend – Rs. – 0.20 |
| TEXINFRA | 7-Sep-20 | Final Dividend – Rs. – 0.20 | RADIXIND | 10-Sep-20 | Final Dividend – Rs. – 0.50 |
| GUJHOTE | 8-Sep-20 | Dividend – Rs. – 2.50 | RIIL | 10-Sep-20 | Dividend – Rs. – 3.00 |
| HERCULES | 8-Sep-20 | Dividend – Rs. – 1.80 | RUPA | 10-Sep-20 | Dividend – Rs. – 3.00 |
| NITINSPIN | 8-Sep-20 | Dividend – Rs. – 0.60 | SARDAEN | 10-Sep-20 | Final Dividend – Rs. – 5.00 |
| RAJPALAYAM | 8-Sep-20 | Dividend – Rs. – 1.00 | SICAGEN | 10-Sep-20 | Final Dividend – Rs. – 0.50 |
| STOVACQ | 8-Sep-20 | Dividend – Rs. – 60.00 | SUMEDHA | 10-Sep-20 | Final Dividend – Rs. – 0.60 |
| UMANGDAIR | 8-Sep-20 | Dividend – Rs. – 0.50 | TAMBOLI | 10-Sep-20 | Dividend – Rs. – 0.50 |
| GSPL | 9-Sep-20 | Dividend – Rs. – 2.00 | UGARSUGAR | 10-Sep-20 | Dividend – Rs. – 0.10 |
| GUJGAS | 9-Sep-20 | Dividend – Rs. – 1.2500 | UNIDT | 10-Sep-20 | Interim Dividend – Rs. – 0.60 |
| HSIL | 9-Sep-20 | Dividend – Rs. – 3.00 | ZEEL | 10-Sep-20 | Final Dividend – Rs. – 0.30 |
| IGARASHI | 9-Sep-20 | Final Dividend – Rs. – 1.20 | ZENTEC | 10-Sep-20 | Dividend – Rs. – 0.40 |
| SCI | 9-Sep-20 | Final Dividend – Rs. – 0.7500 | AVADHSUGAR | 11-Sep-20 | Dividend – Rs. – 4.00 |
| TNPL | 9-Sep-20 | Final Dividend – Rs. – 6.00 | BAJAJCON | 11-Sep-20 | Dividend – Rs. – 2.00 |
| UFLEX | 9-Sep-20 | Dividend – Rs. – 2.00 | BHARATSE | 11-Sep-20 | Dividend – Rs. – 0.50 |
| WSFIN | 9-Sep-20 | Final Dividend – Rs. – 1.50 | BLS | 11-Sep-20 | Final Dividend – Rs. – 0.50 |
| AARTIIND | 10-Sep-20 | Final Dividend – Rs. – 1.00 | COMPEAU | 11-Sep-20 | Dividend – Rs. – 1.00 |
| BHATIA | 10-Sep-20 | Final Dividend – Rs. – 4.00 | ENGINERSIN | 11-Sep-20 | Final Dividend – Rs. – 1.5500 |
| BIGBLOC | 10-Sep-20 | Final Dividend – Rs. – 0.2500 | FIEMIND | 11-Sep-20 | Final Dividend – Rs. – 3.00 |
| DHANVARSHA | 10-Sep-20 | Final Dividend – Rs. – 0.10 | GGL | 11-Sep-20 | Bonus issue 5:6 |
| DIAMONDYD | 10-Sep-20 | Dividend – Rs. – 1.00 | GOODYEAR | 11-Sep-20 | Interim Dividend |
| DLINKINDIA | 10-Sep-20 | Final Dividend – Rs. – 1.00 | HONDAPOWER | 11-Sep-20 | Dividend – Rs. – 12.50 |
| FINEORG | 10-Sep-20 | Final Dividend – Rs. – 3.00 | INDGELA | 11-Sep-20 | Dividend – Rs. – 1.50 |
| GANDHITUBE | 10-Sep-20 | Final Dividend – Rs. – 9.00 | NECLIFE | 11-Sep-20 | Final Dividend – Rs. – 0.0500 |
| GOCLCORP | 10-Sep-20 | Final Dividend – Rs. – 2.00 | SALONACOT | 11-Sep-20 | Dividend – Rs. – 0.60 |
| GUJINTRX | 10-Sep-20 | Final Dividend – Rs. – 3.00 | VICTMILL | 11-Sep-20 | Final Dividend – Rs. – 50.00 |
| GUJTHEM | 10-Sep-20 | Final Dividend – Rs. – 1.6500 | WPIL | 11-Sep-20 | Dividend – Rs. – 7.50 |
| GULFOILLUB | 10-Sep-20 | Final Dividend – Rs. – 7.00 |
Source: BSE, Elite wealth Research
Upcoming Board Meetings
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| CGPOWER | Quarterly Results | 7-Sep-20 | NTCIND | Quarterly Results | 10-Sep-20 |
| EIHOTEL | Right Issue of Equity Shares | 7-Sep-20 | RRFIN | Quarterly Results | 10-Sep-20 |
| FLFL | Quarterly Results | 7-Sep-20 | SCL | Quarterly Results | 10-Sep-20 |
| FMNL | Quarterly Results | 7-Sep-20 | SINTEX | Quarterly Results | 10-Sep-20 |
| GENPHARMA | Quarterly Results | 7-Sep-20 | TOKYOPLAST | Quarterly Results | 10-Sep-20 |
| GUJSTATFIN | Quarterly Results | 7-Sep-20 | UTIQUE | Quarterly Results | 10-Sep-20 |
| KINGSINFR | A.G.M.;Quarterly Results;General | 7-Sep-20 | WSTCSTPAPR | Quarterly Results | 10-Sep-20 |
| KJMCFIN | Quarterly Results | 7-Sep-20 | ADANIGREEN | Quarterly Results | 11-Sep-20 |
| NAUKRI | Quarterly Results | 7-Sep-20 | BGRENERGY | Quarterly Results | 11-Sep-20 |
| ORCHIDPHAR | Quarterly Results | 7-Sep-20 | BHANDHOS | Quarterly Results | 11-Sep-20 |
| PARAGMILK | Issue Of Warrants; Results | 7-Sep-20 | BHEL | Quarterly Results | 11-Sep-20 |
| PGFOILQ | Quarterly Results | 7-Sep-20 | BPCAP | Quarterly Results | 11-Sep-20 |
| RPPINFRA | Quarterly Results;General | 7-Sep-20 | DCMFINSERV | Quarterly Results | 11-Sep-20 |
| SUNTECHNO | Quarterly Results | 7-Sep-20 | DHANVARSHA | Quarterly Results | 11-Sep-20 |
| ZGOLDINV | A.G.M.;Quarterly Results;General | 7-Sep-20 | FSC | Quarterly Results | 11-Sep-20 |
| ZUARIGLOB | Quarterly Results;General | 7-Sep-20 | GARFIBRES | Quarterly Results | 11-Sep-20 |
| ATCOM | Quarterly Results | 8-Sep-20 | GCCL | Quarterly Results | 11-Sep-20 |
| BALPHARMA | Quarterly Results | 8-Sep-20 | IITL | Quarterly Results | 11-Sep-20 |
| BLUECOAST | Quarterly Results | 8-Sep-20 | INCEPTUM | Quarterly Results | 11-Sep-20 |
| CESC | Quarterly Results | 8-Sep-20 | IRCTC | Quarterly Results | 11-Sep-20 |
| DHRUVES | Quarterly Results;Audited Results | 8-Sep-20 | ISFT | Quarterly Results | 11-Sep-20 |
| FCONSUMER | Quarterly Results | 8-Sep-20 | ITDC | Quarterly Results | 11-Sep-20 |
| FRANKLIN | General | 8-Sep-20 | LLOYDSTEEL | Quarterly Results;General | 11-Sep-20 |
| INDOBORAX | Quarterly Results | 8-Sep-20 | MIDHANI | Preferential Issue of shares | 11-Sep-20 |
| MOTHERSUMI | General | 8-Sep-20 | SALSTEEL | Quarterly Results;General | 11-Sep-20 |
| SHRJAGP | Quarterly Results;General | 8-Sep-20 | SWAGRUHA | Quarterly Results | 11-Sep-20 |
| SPENCER | Quarterly Results | 8-Sep-20 | WANBURY | Quarterly Results | 11-Sep-20 |
| WELLNESS | General | 8-Sep-20 | ASALCBR | Quarterly Results | 12-Sep-20 |
| CESCVENTURE | Quarterly Results | 9-Sep-20 | BIRLAPREC | Quarterly Results;General | 12-Sep-20 |
| DAICHI | Quarterly Results | 9-Sep-20 | BLUECLOUDS | Quarterly Results | 12-Sep-20 |
| EVEREADY | Audited Results | 9-Sep-20 | DHARSUGAR | Quarterly Results | 12-Sep-20 |
| IBVENTURES | Quarterly Results | 9-Sep-20 | FOMEHOT | Quarterly Results | 12-Sep-20 |
| POLYSPIN | Bonus issue; Results;General | 9-Sep-20 | GICHSGFIN | Quarterly Results | 12-Sep-20 |
| SHRINIWAS | Quarterly Results | 9-Sep-20 | MAHACORP | Quarterly Results | 12-Sep-20 |
| SHRIRAMEPC | Quarterly Results | 9-Sep-20 | MSL | Quarterly Results | 12-Sep-20 |
| DATAMATICS | Quarterly Results | 10-Sep-20 | VINVANI | Quarterly Results | 12-Sep-20 |
| DRL | Quarterly Results | 10-Sep-20 | VIRATCRA | Quarterly Results | 12-Sep-20 |
| GULPOLY | General | 10-Sep-20 | VIRPOLY | Quarterly Results | 12-Sep-20 |
| HAL | Quarterly Results | 10-Sep-20 | VISAGAR | Quarterly Results | 12-Sep-20 |
| HINDCOPPER | Quarterly Results | 10-Sep-20 | VKJINFRA | Quarterly Results | 12-Sep-20 |
| J&KBANK | Quarterly Results | 10-Sep-20 | WALLFORT | Quarterly Results | 12-Sep-20 |
| JAYBARMARU | Quarterly Results | 10-Sep-20 | YASHPAKKA | Quarterly Results;General | 12-Sep-20 |
| NOVIS | Quarterly Results | 10-Sep-20 | YASHRAJC | Quarterly Results;General | 12-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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