From the Advisory desk : Vikash Sahay
Market Outlook: The markets globally showed some selling pressure, last week and it seems to be continuing today too with early signs coming from Asian markets which is down by half a percent. SGX Nifty is down by 40 points. VIX has moved up by 14% this month at the level of 24. In midst of capital market across the globe turned red, the largest vaccination drive kicked off in India this weekend. IT stocks and now HDFC Bank have announced good set of numbers, which will show give support to the market at lower level and going forward, results will drive the market.
Actionable: Buy Apollo hospital, Ceat
SGX NIFTY: -40 (prev.close 14459)
NIFTY 50 : 14433
Sensex : 49034
FII: +971 Cr
DII: -942 Cr
Advances: 1023 / Declines: 2001
Dollar: $ 73.07
Dollar Index: 90.75
Gold: $1825 per ounce
Crude: $54.65 per barrel
10 year US bond rate: 1.09
10 year Indian Bond rate: 5.99
Today’s results announcement: Mindtree, Indiamart, Trident, Rallies India, IRB developers, IB real estate, Snowman logistics, Majesco Ltd.
Above estimates: HDFC Bank, HCL technologies
Inline estimates: L&T Finance, Shoppers Stop
Below estimates: PVR
Dr reddy’s: Company gets approval from the DGCI to conduct phase 3 clinical trials for the Sputnik V vaccine in india.
Wipro: Announced that it has been chosen as a strategic technology services partner by Fiat Chrysler Automobiles to establish its first gli al digital hub in hyderabad. As part of this engagement, Wipro will source and build a talent pool of more than 1000 skilled consultants and technologists for digital hub.
Metropolis healthcare: To acquire Hitech Diagnostic centre in a cash and stock deal. The cash consideration will be Rs.511 crore and the company will issue up to 4.95 equity shares on preferential basis to the promoters of the company. Acquisition to allow Metropolis to strengthen its leadership in south region and B2C business in focus cities of Chennai and Bangalore.
Piramal enterprises and PSU Banks: Piramal enterprises has emerged as the winner in the bid for DHFL resolution plan. CoC voted in favor of Piramal with more than 94% votes for its bid. Piramal group’s offer translates to around 43% recovery for the lenders. Positive for PSU banks as they carry 100% provisions on the same. However, no formal announcement on the same and expecting to be made early this week to issue Letter of intent to the Piramal group.
Securities in Ban: BHEL, IDEA, SAIL
Derivative View : VIX closed at 24.09. Max Put OI is at 14200 then 14300. Max Call OI is at 14600 then 14500. Option data suggests a trading range between 14200 to 14600.