Actionable: Buy BPCL, Ramco Cement, HCL Tech, SBI Card

Insight Online News

From Advisory Desk 2nd March 2021
 
Market Outlook: US markets closed with a gain of 2%. Asian markets too started with a gain of upto 1%. SGX Nifty is in green by 80 points. Yesterday, FIIs bought a mere Rs 125 cr in cash, however the short covering led Nifty to close up by 250 points. If the Nifty closes above 14850, it would bring bulls back in charge.

Actionable: Buy BPCL, Ramco Cement, HCL Tech, SBI Card

SCI divestment has generated lot of interest from global players, thus we could see aggressive bidding in SCI and stock may see some momentum.
 
INITIATING COVERAGE: SBI CARDS AND PAYMENT SERVICES: Cashing in on the cashless surge!
(SBICARD IN, Mkt Cap USD13.7b, CMP INR1098, TP INR1200, 9% Upside, Neutral)

Global market:
DOW:  +603
SGX NIFTY:   +90  (prev.close 14793)
NIFTY 50 : 14761
Sensex : 49849

Institution:
FII:                    +125 Cr
DII:                    -195 Cr

NSE:
Advances: 1922 / Declines: 1144

Currency:
Dollar: $ 73.54
Dollar Index: 91.13

Commodity:
Gold: $1709  per ounce
Crude: $62.80  per barrel

Bonds:
10 year US bond rate: 1.42
10 year Indian Bond rate: 6.21

Derivative:
PCR: 0.95
VIX:  25.62
 
Updates:
 
BPCL: Board approves sale of entire stake in Numaligarh refinery to consortium of oil india, engineers india and govt of assam for Rs.9,875 crore which is much higher than the expectation.

UPL: Company signed a long-term pact with FMC Corporation for Rynaxypyr Active Ingredient, FMC will provide UPL access to products containing  Rynaxypyr active for distribution in select markets.

SCI: DIPAM secretary says multiple expressions of interest have been received for privatisation of Shipping Corporation of India Limited. The transaction will now move to the second stage.

Securities in BAN: NIL.

Derivative View : VIX closed at 25.62. Max Put OI is at 14500 then 14700. Max Call OI is at 15000 then 14800. Option data suggests a trading range between 14500 to 15000.

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