Insight Online News
From Advisory Desk : Vikash Sahay
13th March 2023; Market Outlook : U.S. stock futures surged as authorities unveiled measures to mitigate the impact of Silicon Valley Bank’s collapse. SGX nifty is indicating flat opening compared to mixed Asian markets as the knock-on effects of the SVB’s turmoil continues. On the domestic front, India’s industrial production growth recovers to 5.2% in January, in line with street’s expectations. FII’s have been selling in cash for past two sessions and short exposure in index futures has reached to 84%. As the Market is continuing to trade in a broader range, the volatility will persist due to flow of global news. Today, India’s CPI inflation data will be released post market hours.
Actionable: Buy ITC, Siemens, NTPC.
DOW: – 345
SGX NIFTY: +20 (prev.close 17437)
NIFTY 50 : 17412
SENSEX : 59135
FII: – 2061 Cr
DII: + 1350 Cr
Advances: 1298 / Declines: 2219
Dollar: $ 82.04
Dollar Index: 104.33
Gold: $ 1879 per ounce
Crude: $ 82.65 per barrel
10 year US bond rate: 3.75
10 year Indian Bond rate: 7.43
Mahindra CIE/ M&M – As per reports, M&M is planning to divest a 4.6% stake in the company through block deals, with a floor price of Rs. 355 per share, amounting to a value of approximately Rs. 620 crores.
Yes bank – Today marks the end of Yes Bank’s three-year lock-in period mandated by the RBI, with the locked-in shares now available for trading in today’s session.
Sona Comstar: As per reports, Blackstone plans to offload its stake in the company through block deals, with a value of $400 million (approx Rs. 3200 crores) at a discount of up to 6%, and may even sell its entire 20% stake contingent on demand, which is estimated to be worth Rs.5000 crores. The sale of the Blackstone stake is expected to occur next week.
Ambuja Cement – As per reports, Adani Group made a formal request to international lenders to sell 4-5% of Ambuja Cement worth $450 million to reduce debt.
Adani Group – Adani promoters notified that they have fully repaid share backed debt worth $2.15 billion (or Rs 17,623 crore as of 12th March) ahead of month end deadline.
HAL – Hindustan Aeronautics has won Rs 667 crore Indian Air Force aircraft order from the ministry of defence.
Securities in Ban: BALRAMCHIN, GNFC.
Derivative View: Weekly Maximum Call OI is at 18000 then 17500 strike while Maximum Put OI is at 17400 then 17300 strike. Option data suggests an immediate trading range in between 17200 to 17600 zones.