Indian Market Outlook:
The Key benchmark indices fell around 2 percent over the week due to Yes Bank crisis and the rising number of coronavirus cases. COVID-19 cases surpassed 100,000 worldwide on Friday as the new flu-like coronavirus continues to spread outside of China, the epicenter of the outbreak. In the week ended on Friday, the Sensex fell 720.67 points or 1.88 % to settle at 37576.42.The Nifty 50 index fell 212.30 points or 1.9 % to settle at 10989.45. BSE Mid Cap Index fell 372.53 points or 2.55% to settle at 14277.49 while the BSE small Cap index fell 2.77 % to settle at 13329.78. Shares of Yes Bank tanked 85% on Friday’s session after the Reserve Bank of India (RBI) placed the private lender under a moratorium, capping deposit withdrawals at Rs 50,000 per account for a month and superseded its board. FII again were the net sellers for the week, sell equities worth Rs.10720.49 crore over the week while DIIs were the net buyers of Rs.10092.78 crore. Oil prices plunged more than 10% to multi-year lows on Friday as OPEC’s allies rejected additional production cuts that the organization proposed Thursday. Lower crude prices will help Indian economy & fiscal situation. The rise in confirmed COVID-19 cases in India or globally will weigh on sentiment in the coming week. On the Macro front Industrial Production (YoY) (Jan) and CPI (YoY) (Feb) will be announced on 12th March, 2020.
Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1,674.35 | 5.49 | 13.86 | 9.94 | 26.45 | |||||
| Silver | 17.34 | 4.84 | 4.21 | -3.18 | 13.56 | |||||
| Platinum | 904.35 | 4.39 | 0.70 | -3.05 | 9.00 | |||||
| USD/INR | 74.00 | 2.01 | 4.27 | 3.09 | 5.59 | |||||
| Crude | 41.61 | -8.04 | -29.50 | -28.07 | -26.43 | |||||
Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| March 11,2020 | GBP | GDP (MoM) | – | 0.3% |
| March 11,2020 | USD | Core CPI (MoM) (Feb)) | 0.2% | 0.2% |
| March 11,2020 | USD | Crude Oil Inventories | – | 0.785 |
| March 12,2020 | INR | Industrial Production (YoY) (Jan) | 1.8% | -0.3% |
| March 12,2020 | INR | CPI (YoY) (Feb) | 7.4% | 7.59% |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 5.15% | 5.15% |
| Reserve Policy Rate | 4.90% | 4.90% | |
| Bank Rate | 5.40% | 5.40% | |
| Reserve Ratio | CRR | 4% | 4% |
| SLR | 18.25% | 18.50% | |
| Inflation Rate | Wholesale Price Index | 3.10% | 2.59% |
| Consumer Price Index | 7.59% | 7.35% | |
| Trade Data | Export ($ Million) | 25970 | 27360 |
| Import($ Million) | 41140 | 38610 | |
| Industry | IIP | -0.3% | 1.8% |
| Domestic Indices | Closing(6th Mar) | Change | %Change |
| BSE Sensex | 37,576.62 | -720.67 | -1.88 |
| Nifty | 10,989.45 | -212.30 | -1.90 |
| Mid Cap | 14,227.49 | -372.53 | -2.55 |
| Small Cap | 13,329.78 | -379.23 | -2.77 |
| Bank Nifty | 27,801.45 | -1,345.70 | -4.62 |
| Global Indices | Closing(6th Mar) | Change | %Change |
| Dow Jones | 25,864.78 | 455.42 | 1.79 |
| Nasdaq | 8,575.62 | 8.25 | 0.10 |
| FTSE | 6,462.55 | -118.06 | -1.79 |
| Nikkei | 20,749.75 | -393.21 | -1.86 |
| Hang Seng | 26,146.67 | 16.74 | 0.06 |
| Shanghai Com | 3,034.51 | 154.21 | 5.35 |
| Net Inflow (Cr) | FII | DII |
| 02-Mar-2020 | -1,354.72 | 1,138.74 |
| 03-Mar-2020 | -2,415.80 | 3,135.24 |
| 04-Mar-2020 | -878.38 | 764.13 |
| 05-Mar-2020 | -2,476.75 | 2,510.89 |
| 06-Mar-2020 | -3,594.84 | 2,543.78 |
| Total | -10,720.49 | 10,092.78 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| Dr. Reddy | 3170.95 | 2927.10 | 8.87 |
| Cipla | 434.40 | 402.10 | 8.03 |
| Sun Pharma | 400.90 | 372.90 | 7,51 |
| Eicher Motors | 17743.55 | 16602.35 | 6.87 |
| HCL Tech | 566.20 | 534.35 | 5.96 |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| Yes Bank | 16.15 | 34.60 | -53.32 |
| Tata Motors | 114.20 | 128.95 | -11.44 |
| SBI | 270.50 | 303.00 | -10.73 |
| Indiabulls Hsg | 254.50 | 279.85 | -9.06 |
| Indusind Bank | 1014.80 | 1104.05 | -8.08 |
Economic News:
- India’s factory activity growth slowed in February from the previous month’s eight-year high due to a modest weakening in demand and output, although overall conditions remained firm, a private survey showed on Monday. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 54.5 last month from January’s 55.3, above a Reuters poll forecast of 52.8. It has stayed above the 50-point threshold mark, which separates growth from contraction, for over two years.
- The Covid-19 outbreak could cost the Indian economy between $387 million and $29.9 billion in personal consumption losses, the Asian Development Bank (ADB) said on Friday. Given the uncertainties, the ADB cited best-case, moderate-case, worse-case and hypothetical worst-case scenarios to assess the impact of Covid-19 on various developing countries in Asia. ADB’s scenarios were based on the fact that the outbreak is still concentrated in China, which accounts for 97% of fatalities and 93% of total cases.
Industry News:
- Pharmaceutical companies are trying to ensure that there are no supply disruptions due to prolonged lockdown in production activity in China following the Covid-19 outbreak. Many companies have started to airlift raw material and are placing “irregular orders” with vendors as several companies run close to exhausting their inventories. “We have invested Rs 100 crore in placing irregular orders with vendors as we don’t want to face any supply shortage in days to come,” said Mankind’s CMD RC Juneja.
- India’s private telecom firms paid more than Rs 8,000 crore towards deferred spectrum dues, even as the telecom department raised fresh questions on their self-assessment of AGR dues. While Vodafone Idea Ltd. has paid about Rs 3,043 crore for deferred spectrum dues, Bharti Airtel Ltd. submitted Rs 1,950 crore and Reliance Jio Infocomm Ltd. Rs 1,053 crore for the same. The Tatas deposited Rs 2,000 crore for ad hoc statutory liabilities.
Company News:
- State Bank of India (SBI) will pick up a 49 per cent stake in troubled private lender YES Bank as part of a revival scheme framed by the Reserve Bank of India (RBI) on Friday. The draft scheme, titled “Yes Bank Ltd. Reconstruction Scheme, 2020”, issued by the RBI, mentioned SBI as the “investor bank” and said it would pay at least Rs 10 per share for buying equity in YES Bank. The move will lead to a capital infusion of roughly Rs 2,650 crore by SBI, with equity worth Rs 2,450 crore and preferential shares of around Rs 200 crore, an RBI executive said, requesting anonymity.
- In the country’s biggest ever privatisation drive, the government on Saturday invited bids for sale of its entire 52.98 per cent stake in India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). Expressions of interest for the strategic sale of BPCL have been invited by May 2, as per the bid document by the Department of Investment and Public Asset Management (DIPAM). The bidding will be a two-stage affair, with qualified bidders in the first expression of interest (EoI) phase being asked to make a financial bid in the second round.
- Harit Talwar, the head of Goldman Sachs Group’s consumer-banking business, is in the running for one of India’s top banking jobs. HDFC Bank, India’s largest private-sector lender, has held talks with Talwar for the top role, according to people with knowledge of the matter. The bank has been looking for a new leader to replace Aditya Puri, one of the longest-serving banking chiefs in India, whose term ends in October.
Global News:
- Yields on U.S. Treasuries plunged to historic lows on Friday as fear the coronavirus outbreak will slam the global economy drove investors to snap up risk-adverse assets and dump equities, overshadowing data highlighting a strong U.S. labor market. The 10-year Treasury US10YT=RR yield fell to a record low of 0.69% as new milestones were set across the U.S. bond market, which this week has seen some of its biggest moves in years as the pandemic rapidly spreads outside China.
- S. stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified, though Wall Street’s major indexes ended well above their session lows. The S&P 500 .SPX posted its 10th decline in 12 sessions as moves to contain the virus crippled supply chains and prompted a sharp cut to global economic growth forecasts for 2020. Since its record closing high on Feb. 19, the benchmark index has lost more than 12%, wiping out $3.43 trillion from its market capitalization, according to S&P Dow Jones Indices.
(Source: Economic Times, Business Today, Business Standard, Investing, Moneycontrol)
Forthcoming Corporate Actions (9th March to 14th March)
| Security Name | Ex-Date | Purpose | Security Name | Ex-Date | Purpose |
| FINOLEXIND | 09-Mar-20 | Interim Dividend – Rs. – 10.00 | ELDEHSG | 12-Mar-20 | Interim Dividend – Rs. – 17.50 |
| JUBILANT | 09-Mar-20 | Interim Dividend – Rs. – 5.00 | EMPIND | 12-Mar-20 | Interim Dividend – Rs. – 25.00 |
| JUBLFOOD | 09-Mar-20 | Interim Dividend – Rs. – 6.00 | FAZE3Q | 12-Mar-20 | Interim Dividend – Rs. – 0.50 |
| KDDL | 09-Mar-20 | Interim Dividend – Rs. – 2.00 | IMPAL | 12-Mar-20 | Interim Dividend – Rs. – 10.00 |
| MAITHANALL | 09-Mar-20 | Interim Dividend – Rs. – 6.00 | INDIAMART | 12-Mar-20 | Interim Dividend – Rs. – 10.00 |
| NBVENTURES | 09-Mar-20 | Interim Dividend – Rs. – 1.50 | KALPATPOWR | 12-Mar-20 | Interim Dividend – Rs. – 3.50 |
| PRADPME | 09-Mar-20 | Interim Dividend – Rs. – 1.00 | KIRLFER | 12-Mar-20 | Interim Dividend – Rs. – 2.00 |
| ADORFO | 11-Mar-20 | Interim Dividend – Rs. – 1.80 | KRL | 12-Mar-20 | Interim Dividend – Rs. – 1.00 |
| ENDURANCE | 11-Mar-20 | Interim Dividend – Rs. – 5.50 | KSL | 12-Mar-20 | Interim Dividend – Rs. – 5.00 |
| INDIAGLYCO | 11-Mar-20 | Interim Dividend – Rs. – 6.00 | MANAPPURAM | 12-Mar-20 | Interim Dividend – Rs. – 0.55 |
| JKCEMENT | 11-Mar-20 | Interim Dividend – Rs. – 7.50 | MIDHANI | 12-Mar-20 | Interim Dividend – Rs. – 1.00 |
| NH | 11-Mar-20 | Interim Dividend – Rs. – 1.00 | MOTHERSUMI | 12-Mar-20 | Interim Dividend – Rs. – 1.50 |
| NIITTECH | 11-Mar-20 | Buy Back of Shares | POLYCAB | 12-Mar-20 | Interim Dividend – Rs. – 7.00 |
| RAMCOCEM | 11-Mar-20 | Interim Dividend – Rs. – 2.50 | RADIOCITY | 12-Mar-20 | Bonus issue 1:4 |
| RAMCOIND | 11-Mar-20 | Interim Dividend – Rs. – 0.50 | RESONANCE | 12-Mar-20 | Interim Dividend – Rs. – 1.00 |
| RELAXO | 11-Mar-20 | Interim Dividend – Rs. – 1.25 | SUDARSCHEM | 12-Mar-20 | Special Dividend – Rs. – 0.50 |
| SHANTIGEAR | 11-Mar-20 | Interim Dividend – Rs. – 2.00 | SUDARSCHEM | 12-Mar-20 | Interim Dividend – Rs. – 5.80 |
| TIINDIA | 11-Mar-20 | Interim Dividend – Rs. – 3.50 | VINATIORGA | 12-Mar-20 | Interim Dividend – Rs. – 5.00 |
| UFO | 11-Mar-20 | Interim Dividend – Rs. – 15.00 | ALBERTDA | 13-Mar-20 | Interim Dividend – Rs. – 7.00 |
| VALIANTORG | 11-Mar-20 | Interim Dividend – Rs. – 6.00 | AMNPLST | 13-Mar-20 | Interim Dividend – Rs. – 0.30 |
| MANINFRA | 12-Mar-20 | Interim Dividend – Rs. – 0.55 | AUTOAXLES | 13-Mar-20 | Interim Dividend – Rs. – 6.00 |
| AXTEL | 12-Mar-20 | Interim Dividend – Rs. – 2.50 | CHEMBOND | 13-Mar-20 | Interim Dividend – Rs. – 2.00 |
| BNKCAP | 12-Mar-20 | Interim Dividend – Rs. – 2.50 | MEGH | 13-Mar-20 | Interim Dividend – Rs. – 1.00 |
| CAPPL | 12-Mar-20 | Interim Dividend – Rs. – 2.10 | PIDILITIND | 13-Mar-20 | Interim Dividend – Rs. – 7.00 |
| CHAMBLFERT | 12-Mar-20 | Interim Dividend – Rs. – 4.00 | PRAJIND | 13-Mar-20 | Interim Dividend – Rs. – 2.70 |
| DECCANCE | 12-Mar-20 | Interim Dividend – Rs. – 4.00 | REMSONSIND | 13-Mar-20 | Interim Dividend – Rs. – 1.50 |
Source: BSE, Elite wealth Research
Upcoming Board Meetings (9th March to 14th March)
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| AIAENG | Interim Dividend | 09-Mar-20 | ORICON | Interim Dividend | 11-Mar-20 |
| AMARAJABAT | Interim Dividend | 09-Mar-20 | PERSISTENT | Interim Dividend | 11-Mar-20 |
| AREALTY | General | 09-Mar-20 | SCTL | General | 11-Mar-20 |
| BALAMINES | Interim Dividend | 09-Mar-20 | SMRUTHIORG | Interim Dividend | 11-Mar-20 |
| BRIGHTBR | Interim Dividend | 09-Mar-20 | STYLAMIND | General;Scheme of Arrangement | 11-Mar-20 |
| DELTACORP | Interim Dividend | 09-Mar-20 | SUPRAP | General | 11-Mar-20 |
| EXCELINDUS | Interim Dividend | 09-Mar-20 | TBZ | Interim Dividend | 11-Mar-20 |
| HATSUN | Interim Dividend;General | 09-Mar-20 | TORNTPHARM | Interim Dividend | 11-Mar-20 |
| INDUSINDBK | General | 09-Mar-20 | UNIDT | Interim Dividend | 11-Mar-20 |
| KEI | Interim Dividend | 09-Mar-20 | WELLNESS | General | 11-Mar-20 |
| LKPFIN | Interim Dividend | 09-Mar-20 | ALICON | Interim Dividend | 12-Mar-20 |
| MANVIJAY | General | 09-Mar-20 | AMRITCORP | Interim Dividend | 12-Mar-20 |
| MMFL | Interim Dividend | 09-Mar-20 | ASHOKLEY | Interim Dividend | 12-Mar-20 |
| MODISNME | Interim Dividend | 09-Mar-20 | BLUESTARCO | Interim Dividend | 12-Mar-20 |
| NFL | Interim Dividend | 09-Mar-20 | BPCL | Interim Dividend | 12-Mar-20 |
| OAL | Interim Dividend | 09-Mar-20 | CEATLTD | Interim Dividend | 12-Mar-20 |
| PNCINFRA | Interim Dividend | 09-Mar-20 | CIPLA | Interim Dividend | 12-Mar-20 |
| RODIUM | General | 09-Mar-20 | COALINDIA | Interim Dividend | 12-Mar-20 |
| SASKEN | Interim Dividend | 09-Mar-20 | EASTWEST | General | 12-Mar-20 |
| SUNTV | Interim Dividend | 09-Mar-20 | FCL | Interim Dividend | 12-Mar-20 |
| TATASTEEL | General | 09-Mar-20 | GARWARPOLY | Interim Dividend;General | 12-Mar-20 |
| WELSPUNIND | Interim Dividend | 09-Mar-20 | IIFL | Interim Dividend | 12-Mar-20 |
| WSTCSTPAPR | Interim Dividend | 09-Mar-20 | JYOTHYLAB | Interim Dividend | 12-Mar-20 |
| ASAHIINDIA | Interim Dividend | 10-Mar-20 | KILPEST | Interim Dividend | 12-Mar-20 |
| KNRCON | Interim Dividend | 10-Mar-20 | KTIL | Interim Dividend | 12-Mar-20 |
| SPELS | General | 10-Mar-20 | LAURUSLABS | Interim Dividend | 12-Mar-20 |
| SUNCLAYLTD | Interim Dividend | 10-Mar-20 | PRINCEPIPE | Interim Dividend | 12-Mar-20 |
| TCS | Interim Dividend | 10-Mar-20 | RSCINT | General | 12-Mar-20 |
| TVSMOTOR | Interim Dividend | 10-Mar-20 | SATINDLTD | General | 12-Mar-20 |
| TVSSRICHAK | Interim Dividend | 10-Mar-20 | TGVSL | Preferential Issue of shares | 12-Mar-20 |
| 20MICRONS | Interim Dividend | 11-Mar-20 | VIVIDIND | Interim Dividend | 12-Mar-20 |
| AKSCHEM | Interim Dividend | 11-Mar-20 | XTGLOBAL | General | 12-Mar-20 |
| ARIES | Interim Dividend | 11-Mar-20 | IOC | Interim Dividend | 13-Mar-20 |
| ATUL | Interim Dividend | 11-Mar-20 | JKLAKSHMI | Interim Dividend | 13-Mar-20 |
| AVL | General | 11-Mar-20 | JSGLEASING | General | 13-Mar-20 |
| BANCOINDIA | Interim Dividend;General | 11-Mar-20 | PETRONENGG | Quarterly Results | 13-Mar-20 |
| CONTROLPR | Interim Dividend | 11-Mar-20 | PONDYOXIDE | Interim Dividend | 13-Mar-20 |
| EICHERMOT | Interim Dividend | 11-Mar-20 | RPPINFRA | General | 13-Mar-20 |
| ERIS | Interim Dividend | 11-Mar-20 | SESL | General | 13-Mar-20 |
| FIEMIND | Interim Dividend | 11-Mar-20 | SHANKARA | Interim Dividend | 13-Mar-20 |
| FUTURAPOLY | Quarterly Results | 11-Mar-20 | SHREEGANES | General | 13-Mar-20 |
| GEOJITFSL | Interim Dividend;General | 11-Mar-20 | SKYIND | General | 13-Mar-20 |
| IEX | Interim Dividend | 11-Mar-20 | SOMANYCERA | Interim Dividend | 13-Mar-20 |
| IOLCP | Interim Dividend | 11-Mar-20 | TCI | Interim Dividend | 13-Mar-20 |
| KABRAEXTRU | Interim Dividend | 11-Mar-20 | TCIEXP | Interim Dividend | 13-Mar-20 |
| MENNPIS | Interim Dividend;General | 11-Mar-20 | TRITONV | Interim Dividend | 13-Mar-20 |
| MOLDTEK | Interim Dividend | 11-Mar-20 | ACE | Interim Dividend | 14-Mar-20 |
| MOLDTKPAC | Interim Dividend | 11-Mar-20 | BINANIIND | Results;Reduction of Capital | 14-Mar-20 |
| NCLIND | Interim Dividend | 11-Mar-20 | THANGAMAYL | Interim Dividend | 14-Mar-20 |
| NESCO | Interim Dividend | 11-Mar-20 | THERMAX | Interim Dividend | 14-Mar-20 |
| ONGC | Interim Dividend | 11-Mar-20 | WIMPLAST | Interim Dividend | 14-Mar-20 |
Source: BSE, Elite wealth Research
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan