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Actionable: Buy Bharti Airtel, MindTree, Tata Global,

Actionable: Buy Bharti Airtel, MindTree, Tata Global,
February 18
05:27 2020
Vikash Sahay
Vikash Sahay

From Advisory Desk 18th February 2020

Market Outlook: : US markets were closed on account of President’s Day. Asian markets were trading a percent lower and SGX Nifty was down by 40 points, when reported. Moody cuts India’s 2020 GDP forecast to 5.4% from 6.6% earlier. We expect Nifty to be in the trading range of 11900-12200.

Actionable: Buy Bharti Airtel, MindTree, Tata Global, Balkrishan Industries, Torrent Pharma.

IPO: SBI Cards and Payments services gets SEBI nod for IPO which is expect to launch very soon.

Global market:
DOW: -25 (15 feb closing)
SGX NIFTY: -35 (prev.close 12073)
NIFTY 50 : 12045
Sensex : 41055

Institution:
FII: -374 Cr
DII: -154 Cr

Currency:
Dollar: $ 71.29

Commodity:
Gold: $1589 per ounce
Crude: $57.17 per barrel

Bonds:
10 year US bond rate: 1.56
10 year Indian Bond rate: 6.39

Updates:

Jindal steel and power: Australian court approved the proposed restructuring scheme of external debt for Australian subsidiary (Wollongong Coal Ltd). Overseas debt restructuring plans will increase cash flows for JSPL due to consolidated leverage is far higher than standalone.

Reliance Industries: Reliance industries consolidates media and distribution units under one roof which will create value chain integration and simplify corporate structure. Under the scheme of amalgamation, TV18 Broadcast, Hathway Cable & Datacom and Den Networks will be merged into Network18 Media & Investments.

Derivative View: VIX closed at 14.41. Max Put OI is at 12000 then 11900 strike while Max Call OI is at 12100 then 12200 strike. Option data indicates an immediate trading range between 11900 to 12200 zone.

SBI Cards gets Sebi’s go ahead to float IPO

SBI Cards and Payment Services, the credit card unit of the country’s largest lender SBI, has received markets regulator Sebi’s go ahead to float an initial public offering (IPO). The company, which had filed draft IPO papers in November, obtained “observations” from the Sebi on February 11 latest update with the regulator showed. As per the draft papers, SBI Cards will offer up to
130,526,798 equity shares through offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore. SBI holds 76 per cent in SBI Cards and rest of the stake
is held by Carlyle Group. According to market sources, the IPO size could be estimated at more than Rs 6,000 crore. SBI Cards is the second-largest credit card issuer in India with an 18 per cent market share.

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

Actionable: Mind tree, Bharti Airtel, Torrent Pharma,

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