From the Advisory desk : Vikash Sahay
Market Outlook: Dow future is up by 100 points and Asian markets are up by 1%. SGX Nifty is up by 100 points. Yesterday Albiet nifty sheded 200 points, but FIIs still were the buyers in cash. We saw delivery buying in RIL and HDFC bank of Rs 1200 cr each. Nifty has a crucial support at 14100. Results are driving the market.
Actionable: Buy Reliance, Maruti, Apollo Hospital.
DOW: -177 (close as on 16 Jan 2021)
SGX NIFTY: +90 (prev.close 14276)
NIFTY 50 : 14281
Sensex : 48564
FII: +651 Cr
DII: -43 Cr
Advances: 916 / Declines: 2112
Dollar: $ 73.28
Dollar Index: 90.66
Gold: $1840 per ounce
Crude: $55.05 per barrel
10 year US bond rate: 1.11
10 year Indian Bond rate: 5.96
Today’s results announcement: LTI, CEAT, ICICI lombard, Tata communications, Alembic pharmaceuticals, Tv18 broadcast, CSB bank.
Above estimates: Mindtree, Trident, Rallis india, Indiamart
Inline estimates: IRB developers
Tata Steel: As per media reports, talks of tata steel’s Ijmuiden steel mill acquisition by SSAB’s running out of steam as two largest shareholders of SSAB’S are skeptical to the idea. Ijmuiden steel mill and downstream business valued at $7-8 billion which will reduce the tata steel debt by 50% if the deal happens.
L&T Finance: Board has approved the rights issue for an amount Rs.3000cr at a price of Rs.65 per share and fixed record date as Jan 22, 2021. Rights entitlement ratio for the rights issue is 17 shares for every 74 shares held by the eligible shareholders of the company. Issue will be open on Feb 1, 2021 and closes on Feb 15, 2021.
As per media reports, Govt is considering hiking import duties by 5-10% on more than 50 items including smartphones, furniture, electric vehicles, electronic components, and appliances in upcoming budget. Stocks like voltas, bluestar, amber, dixon, whirlpool, Nilkamal, tata motors could be beneficiaries.
Apollo hospitals: Company launches QIP on monday, at a floor price of Rs.2508.58 per share, which is a discount of 4% to yesterday’s closing price. The board will meet on Jan 22 to decide the issue price as well as share allotment.
Securities in Ban: BHEL, IDEA, SAIL
Derivative View : VIX closed at 24.39. Max Put OI is at 14000 then 14200. Max Call OI is at 14500 then 14400. Option data suggests a trading range between 14000 to 14500.