Actionable: Buy Hero Motocorp, SAIL, BPCL, L&T.

Insight Online News

From Advisory desk : Vikash Sahay

4th March 2024
Market Outlook: Major global equity markets reached new record highs due to consistently declining inflation, raising hopes of potential interest rate cuts. US equity market closed higher on Friday as falling bond yields fueled a renewed tech rally. Asian markets have started on a positive note, while the GIFT Nifty indicates a flat opening. On the domestic front, Nifty extended its rally in a special trading session on Saturday, and we expect the momentum to continue further. Government is set to launch infrastructure projects worth over Rs.1 lakh crore in the next three days, with the majority of the projects related to the power sector. Today being the Bankex’s weekly expiry, we expect the range to be 53250/53500-54000/54250.

Actionable: Buy Hero Motocorp, SAIL, BPCL, L&T.

Delivery Idea: Buy Jio Financial.

IPO market: This week, there is a lot of buzz in the primary market, with eight IPOs set to open for subscription and seven IPOs poised to list on exchanges.

Global market:

DOW:  +90
GIFT NIFTY : +58 (prev. close 22451)
NIFTY 50 : 22378
SENSEX : 73806
FII:               –      81.8 Cr
DII:              –      44.7 Cr

Advances:   2375 / Declines:       1064

Dollar: $ 82.90
Dollar Index: 103.9
Gold: $  2080 per ounce
Crude: $ 83.66 per barrel
10 year US bond rate: 4.2
10 year Indian Bond rate: 7.06

PCR: 1.41
VIX: 14.99


Railway sector: Over the weekend, Railway minister announced the plans to introduce 1000 Amrit Bharat trains and another 400-500 Vande Bharat trains in coming years. Also, announced about the plans to export Vande Bharat trains.

NTPC – The company’s board has given investment approval for the Singrauli super thermal power project, Stage III (2×800 MW). The current estimated cost of the project is Rs.17,195.31 crore.

Torrent Power :Torrent Power has received a Rs.2,700 crore order from Railway Energy Management for installing approximately 325 MW of renewable capacity. Additionally, the company has been awarded a project by NTPC Vidyut Vyapar Nigam for supplying power from a gas-based power project.
SJVN : SJVN’s subsidiary, SGEL, successfully secured a bid for a 200 MW solar project, contributing to the growth of renewable energy in Gujarat. Tentative cost of the project is Rs.1,100 crore
Signature Global: The real estate developer has announced pre-formal launch sales of more than Rs.3,600 crore for its latest premium housing residential development project, DE LUXE-DXP, in Gurugram, spread over 16.5 acres.
Brigade Enterprises – The company launched a project in North Bengaluru with revenue potential of Rs.380 crore.
APL Apollo Tubes : APL Apollo Tubes has been issued an order by the State Tax Officer, Intelligence, Hosur, Tamil Nadu, for a GST demand totaling Rs 16,86,44,732, which includes tax, interest, and penalty.
Dr. Lal PathLabs – Bharath U has resigned as Chief Executive Officer (CEO) and key managerial personnel of the company. His last working day as CEO would be May 20, 2024.

Securities in ban: ZEEL.
Derivative View: On weekly front, Maximum Call OI is at 22800 then 22500 strike while Maximum Put OI is at 22000 then 22200 strike. Option data suggests an immediate trading range in between 22000 to 22500 zones.

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