Actionable: Buy Kotak Mahindra Bank, Maruti Suzuki, Indian Hotels.

Insight Online News

From Advisory Desk : Vikash Sahay

3rd August 2022

Market Outlook: Wallstreet ended lower overnight on account of rising geo-political tensions and relatively hawkish comments from several FED speakers. However, US futures were trading flat. Crude oil prices rebounded from early losses and trading higher ahead of OPEC+ meeting today. Asian markets have started on a flat to positive note, with SGX Nifty is indicating a flat opening. Yesterday, indian markets recovered from first half lows and closed flat despite weak global cues, which shows strength in the market. Overall, we remain positive and continue with buy on dips strategy.

Actionable: Buy Kotak Mahindra Bank, Maruti Suzuki, Indian Hotels.

Global market:

DOW: -402

SGX NIFTY: +30 (prev. close 17326)

NIFTY 50 : 17345

Sensex : 58136

Institution:

FII: + 825 Cr

DII: + 118 Cr

NSE:

Advances: 1884 / Declines: 1487

Currency:

Dollar: $ 78.71

Dollar Index: 106.39

Commodity:

Gold: $1777 per ounce

Crude: $100.40 per barrel

Bonds:

10 year US bond rate: 2.71

10 year Indian Bond rate: 7.20

Derivative:

PCR: 0.91

VIX: 18.53

Today’s Results – Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure, KEC International, Paras Defence and Space Technologies, PI Industries, Sandhar Technologies, Satin Creditcare Network, Speciality Restaurants, Tata Coffee, and Zuari Agro Chemicals.

Results update:

Above estimates: Bosch, Transport Corporation of india, Lemon Tree Hotel, Gati

Inline estimates: Tube Investments, Godrej Properties

Below estimates: Voltas, Indus Towers, Deepak Nitrite, Jubilant Pharmova

Updates:

Zomato – A big block deal is expected in Zomato today, with Uber likely to sell off its 7.8 % stake. The offer is of around Rs.2,938 crore or $373 million, with a price range of Rs.48-54 per share.

Aurobindo Pharma – The API non-antibiotic manufacturing facility in Andhra Pradesh has received a ‘Form 483’ with three observations, but none of these observations are related to data integrity. The USFDA has inspected the company’s manufacturing facility during July 25 to August 2.

Jubilant Pharmova – The USFDA has issued six observations to the company’s solid dosage manufacturing facility at Roorkee plant after the completion of audit.

Oil & Gas Sector – The windfall tax on crude oil has been revised from Rs.17,000 per tonne to Rs.17,750 per tonne. The export duty on diesel has been cut from Rs.11 per litre to Rs.5 per litre. Interestingly, the export duty on ATF has been entirely scrapped. Similarly, export duty on petrol continues to be nil.

Securities in Ban: Escorts.

Derivative View: Immediate Max Put OI is at 17200 and 17000 and Max Call OI is at 17500 and 17600. Option data suggests a trading range in between 17000 to 17600.

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