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Actionable : Buy ICICI bank , DCB bank , Voltas, Bata

Actionable : Buy ICICI bank , DCB bank , Voltas, Bata
June 26
04:16 2019
Vikash Sahay

Vikash Sahay

From Advisory Desk : Vikash Sahay

26-June: Market Outlook : US markets declined 1.5% after the US Fed Chairman warned that the downside risks to the economy have increased and doubts emerging on progress of trade deal with China . On domestic front Markets continue to look for some trigger from the upcoming Budget and progress of Monsoon . Market remains in the range of 11650 to 11850 and a decisive break above 11850 will give new upside levels . We stick to our strategy of buying select stocks on dips .

Motilal Oswal

Actionable : Buy ICICI bank , DCB bank , Voltas, Bata

For Positional Traders: The Power sector PSU’s like PFC, REC, NTPC, Power Grid are showing OI build-up and some technical Momentum.

Corporate Action :

BNP Paribas will be selling stake in SBI life via OFS at Rs 650 per share . Non retail segment oversubscribed 3.81 times . Open for retail segment today .

L&T Technology Services Ltd : L&T sets OFS floor price for co’s shares at Rs 1,650/share . Non retail segment oversubscribed 5.41 times . OFS received at indicative price of Rs1,686.18 a share . OFS open for retail segment today .

India Mart IPO: Issue fully subscribed.Price band 970 to 973 . Issue date 24th June to 26th June

Global market:
DOW: -179
SGX NIFTY: -27
NIFTY 50: 11796
Sensex : 39434

Institution:
FII: +1157 Cr
DII: +377 Cr

Currency:
Dollar: 69.34

Commodity:
Gold: $ 1417 per ounce
Crude: $ 65.77 per barrel

Bonds:
10 year US bond rate: 2.00 percent
10 year Indian Bond rate: 6.88 percent

Updates :
Bharti Airtel : Company repays debt of Rs 22000 Cr from the proceeds of Right issue .Debt reduction Positive for the company

DHFL were able to Make part payment of Rs 150 towards maturity of Rs 375 cr DHFL says balance Rs 225 cr will be paid over next few days

Godrej Properties Ltd plans to raise around ₹2,100 crore via QIP at floor price of Rs 928 for repayment of Debt and working capital requirement .

Government imposes countervailing duty on radial tires from China . Positive for tyre industry .

Derivative View – VIX closed at 15.01. Max Call writing is at 11900 then 12000 strike while Put writing is at 11700 then 11500 strike. Option data suggests a trading range in between 11700 to 12000.

 

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

BNP Paribas will be selling stake in SBI life via OFS at Rs 650 per share on 25th and 26th June

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