Actionable: Buy Kotak Mahindra Bank, HDFC Bank, Allcargo Logistics, Oberoi Realty.

Insight Online News

From Advisory Desk : Vikash Sahay

15th September 2022
 
Market Outlook: Wall street ended a choppy session slightly higher. Now, all eyes are on tomorrow’s US retail sales data and next week’s FOMC meeting for further market direction. Indian markets could open positive largely inline with Asian markets and US futures. Yesterday, indian markets has recovered sharply from initial lower opening and closed above 18000 level despite of global weakness, which clearly shows that buying interest in lower levels. Today being weekly expiry, we expect Nifty’s range to be 17777/17850 – 18200/18350 and Banknifty’s range to be 40750/41000 – 41830/42000.

Actionable: Buy Kotak Mahindra Bank, HDFC Bank, Allcargo Logistics, Oberoi Realty.

IPO listing: Tamilnad Mercantile Bank shares to start trading in exchanges today after oversubscribed by 2.9 times.
 
Global market:

DOW:   +30
SGX NIFTY:   +30   (prev. close 17990)

NIFTY 50 : 18003
Sensex : 60346
 
Institution:
FII:                 –   1398  Cr
DII:                +   188   Cr

NSE:
Advances: 1633 / Declines: 1843

Currency:
Dollar: $ 79.44
Dollar Index: 109.66
 
Commodity:
Gold: $1704  per ounce
Crude: $94.05  per barrel
 
Bonds:
10 year US bond rate: 3.40
10 year Indian Bond rate: 7.15

Derivative:
PCR: 0.85
VIX:  18.27
 
Updates:
 
PVR – Four Investors (Multiples PE, Grey Birch, Plenty PE and Berry Invt) will offload a 7.7 stake in the company via block deal today. The offer price for the block deal will be in the range of Rs.1852 to Rs.1929 per share.

GR Infra Projects – The promoters will be selling up to 65 lacs equity shares or 6.8% stake in the company via offer for sale on September 15-16. The floor price has been fixed at Rs.1,260 apiece. The OFS is aimed at cutting down the stake of promoters in accordance with the regulatory norms.

Paytm – The Enforcement Directorate (ED) carried out fresh raids on Paytm and some other agencies in connection with an ongoing money laundering probe linked to alleged financial irregularities by instant app-based loan companies “controlled” by Chinese persons.
 
HFCL – Company has received the advance purchase orders worth Rs.447.81 crore, consisting of Rs.341.26 crore from Bharat Sanchar Nigam (BSNL), and Rs.106.55 crore from RailTel Corporation of India.
 
Balaji Amines – Company has announced the completion of phase one of Greenfield Project and the commissioning of phase two of the greenfield project along with the construction of two new plants.
 
Securities in Ban: Delta Corp, Indiabulls Housing Finance, RBL Bank.
 
Derivative View: Immediate max Put OI is at 17500 and 18000 and max Call OI is at 18000 and 18500. Option data suggests an immediate trading range in between 17700 to 18200.

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