Actionable: Buy Ramco Cement & MGL
From the Advisory Desk 27th May 2020
Market Outlook: As the US economy gradually resumes normalcy, DOW closed 500 points in green. However the protest in Hong Kong kept the Asian markets under pressure by half a percent. SGX Nifty was up by meager 25 points. We expect the Nifty to be in the range of 8800-9300.
Today’s results announcement: Sun pharma, Dabur, united spirits, Ujjivan financial services, Aditya Birla fashion&retail.
Above estimates: Coromandal International, Deepak Nitrite
Inline estimates: Torrent pharma, Max Financial services
Below estimates: VIP industries
SGX NIFTY: +20 (prev.close 9021)
NIFTY 50 : 9029
Sensex : 30609
FII: +4716 Cr
DII: +2841 Cr
Advances: 1203 / Declines: 1138
Dollar: $ 75.66
Gold: $1702 per ounce
Crude: $35.83 per barrel
10 year US bond rate: 0.69
10 year Indian Bond rate: 5.98
Reliance: Mukesh Ambani Prepping Overseas IPO For Jio – Reliance Industries is working with banks on early preparations for an overseas listing of its digital and wireless business after the unit attracted more than $10 billion of investment in a month (Media report).
Kotak Mahindra Bank: Board approves QIP on May 26. The floor price of Rs 1,147.75 per share is a 0.47% discount to Tuesday’s closing. The bank may consider offering a discount of not more than 5% on the floor price.
Derivative View – VIX closed at 31.47. Max Put OI is at 9000then 8800 while Max Call OI is at 9200 then 9300 strike. Options data indicates a wider range between 8800 to 9300 zone.