Insight Online News
From Advisory Desk : Vikash Sahay
11th October 2021
Market Outlook: US futures is trading lower by a quarter percent, after the disappointing jobs data and concerns over inflation pushed bond yields to 1.61%. Asian markets have started the week on a mixed note, with SGX Nifty is trading flat. Globally, earnings season and inflation will drive the markets in this week. On Friday, Nifty IT and Heavy weight Reliance industries led Nifty to surpass 17900 levels ending the week on a strong note gaining 2%. TCS results were below estimates mainly led by lower margins. Over the weekend, Reliance has announced an acquition of REC, a global solar cell and panels manufacturing company and 40% stake in solar EPC company Sterling & Wilson Solar and also opened first store of 7- eleven franchisee at mumbai.
Actionable: Buy HCL Tech, Voltas, Macrotech developers, Bank of baroda.
IPO listing: Aditya Birla Sun Life AMC shares to start trading in exchanges today after subscribed by 5 times.
SGX NIFTY: -10 (prev.close 17919)
NIFTY 50 : 17895
Sensex : 60059
FII: -64 Cr
DII: -168 Cr
Advances: 1794 / Declines: 1536
Dollar: $ 74.98
Dollar Index: 94.06
Gold: $1760 per ounce
Crude: $83.30 per barrel
10 year US bond rate: 1.61
10 year Indian Bond rate: 6.32
Today’s results announcement: Delta corp, Ramakrishna forgings, Saregama, Tata metaliks.
Reliance industries: Has acquired REC Solar holdings, a global solar cells and panels manufacturing company, for an enterprise value of $771 million. Also, announced to acquire 40% in Sterling & Wilson solar via preferential issue, existing promoter stale & open offer at Rs.375 per share. With this acquisitions reliance will become top player in solar cell manufacturing and EPC for solar renewable projects.
Gland pharma: Has received tentative approval for Sugammadex injection which is used to reverse the effects of the muscle relaxants given to patients during surgery. Has US sales of approx $ 620 million.
Coal india: As per reports, an energy crisis is looming over India as the country facing an unprecedented shortage of coal stocks at few of thermal plants due to higher demand, lower stock build up in the recent months and rise in international prices.
Securities in BAN: CANBK, IBUHSGFIN, IRCTC, NALCO, PNB, SAIL, SUNTV.
Derivative View : VIX closed at 15.65. Max Put OI is at 17800 then 17700. Max Call OI is at 18000 then 17900. Option data suggests a trading range between 17700 to 18000.