Actionable: Buy Bajaj Finance, Marico, HDFC Bank

From Advisory : Vikas Sahay

Desk 23rd August 2021

Market Outlook: Globally the markets have started the week on positive note with gains above 1%. Hence we expect Nifty to open higher by 150 points, around 16600. FIIs have sold over Rs 4500 cr in the last three days, However markets have held on with Large cap stocks which continue to remain strong. There was some fall in metals due to news of stimulus tapering.

Actionable: Buy Bajaj Finance, Marico, HDFC Bank

Indostar Capital OFS: Promoter to sell 5% stake in the company at a floor price of Rs.290. The Cut-off price determined for general category is Rs.290. Issued opened for retail investors today

IPO listing: Nuvoco Vistas  shares to start trading in exchanges today after subscribed by 1.71 times.

Global market:
DOW:  +225
SGX NIFTY:   +175  (prev.close 16405)
NIFTY 50 : 16450
Sensex : 55329

Institution:
FII:                      -2287 Cr
DII:                     +119 Cr

NSE:
Advances: 736 / Declines: 2470

Currency:
Dollar: $ 74.38
Dollar Index: 93.34

Commodity:
Gold: $1787  per ounce
Crude: $65.45  per barrel

Bonds:
10 year US bond rate: 1.26
10 year Indian Bond rate: 6.23

Derivative:
PCR: 0.92
VIX:  14.01

Updates:

Aurobindo pharma: Company cancels Rs.420 cr deal to acquire 51% stake in Cronus pharma after investors raised concern of acquiring at higher valuations. Earlier, USFDA issued 483 form with 7 obersvations to API unit-1 in Hyderabad which is already having OAI status from May 2019.

Adani enterprises: SEBI has kept Adani Wilmar’s Rs.4,500 crore IPO on hold due to investigation against Adani enterprises.

Cadila healthcare: Zydus Cadila’s 3 dose vaccine has received the Emergency Use Authorization from the DGCI for ZyCoV-D, the world’s first plasmid DNA vaccine for Covid-19. Co also plans to seek approval for two dose regimen of vaccine.

Infosys: Ministry of Finance has summoned Infosys CEO over Persistant glitches in the Income Tax portal even after 2.5 months since launch of new e- filing portal.

Securities in BAN:  CANBK, NALCO, NMDC, PNB, SUNTV, VEDL.

Derivative View : VIX closed at 14.01. Max Put OI is at 16400 then 16300. Max Call OI is at 16500 then 16600. Option data suggests a trading range between 16300 to 16600.

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