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:

  • 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.

 

  • 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:

  • 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.

 

  • 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:

  • 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.

 

  • 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.

 

  • 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:

  • 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.

 

  • 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

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DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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