Actionable : Buy Bharti Airtel, Axis Bank, HAL.

Insight Online News

From VCap Money Advisory Desk : Vikash Sahay

22nd November 2022
 
Market Outlook: Global equity markets weakened further as China’s deteriorating covid outbreak weighs on investor sentiment. Beijing has warned that it was facing it’s most severe test of the covid pandemic. Crude oil prices see-saw as markets weigh conflicting news reports that OPEC+ countries were considering increasing production by upto 5lacs barrel per day at its Dec 4th meeting and the same was denied by saudi officials later. Indian markets could open in green largely inline with Asian markets and US futures. Yesterday, broader markets outperformed benchmark indices which indicates that broader participation may increase going forward. We expect markets may remain in a range and take support near 20 DMA (18070 ).

Actionable: Buy Bharti Airtel, Axis Bank, HAL.

Global market:

DOW:   -45
SGX NIFTY:   +50   (prev. close 18205)

NIFTY 50 : 18159
Sensex : 61144
 
Institution:
FII:                –    1594    Cr
DII:               +    1263    Cr

NSE:
Advances:  1424 / Declines:  2172

Currency:
Dollar: $ 81.84
Dollar Index: 107.55
 
Commodity:
Gold: $1744  per ounce
Crude: $87.90  per barrel
 
Bonds:
10 year US bond rate: 3.82
10 year Indian Bond rate: 7.32

Derivative:
PCR: 0.90
VIX:  14.79

Updates:

Nykaa – Private equity player Lighthouse India will sell shares worth ₹335 crore through a block deal at a price band of around ₹180-183.5 apiece, a 2% discount yesterday’s closing.
 
JK Paper – The company will acquire Horizon Packs Private Ltd and Securipax Packaging Private Ltd in phases for about ₹578 crore. JK paper will acquire 26.92 crore equity shares in HPPL for ₹19.33 per share and 4.63 lakh equity shares for ₹1,256.95 apiece in SPPL — representing an 85% stake in each company.
 
Reliance Industries – NCLT gave its approval to Reliance Jio subsidiary Reliance Projects and Property Management Services for the acquisition of Reliance Infratel and asked Jio to deposit ₹3,720 crore in the SBI escrow account to complete the acquisition of RCOM’s tower and fibre assets.
 
Adani group/NDTV – Adani group‘s open offer to acquire an additional 26% stake in NDTV from the market would start from 22nd Nov and closes on 5th Dec at a price band of Rs 294 per share.
 
Last day to buy Hindustan Zinc to be eligible for dividend – 4.7% dividend yield.

Last day to buy Mindtree prior to amalgamation (Record Date: Nov 24).
 
Biocon – Subsidiary Biocon Biologics  have executed a Debt Facility Agreement amounting to US$1.2 billion. The proceeds shall be used for funding the acquisition of Viatris Inc.’s biosimilars business.

Securities in Ban: ESCORTS, GNFC, IBULHSGFIN, PNB, SUN TV.

Derivative View: Immediate Max Call OI is at 19000 and 18500 and max Put OI is at 18000 and 17500. Option data suggests an immediate trading range in between 18000 to 18400 zone.

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