Actionable: Buy Siemens, Apollo Tyres, Zomato.
Insight Online News
From Advisory Desk : Vikash Sahay
5th May 2023 ; Market Outlook – The US market ended lower due to continuous concerns over regional banking instability. ECB hiked rates by 25 bps on expected line however the commentary was little hawkish. US futures up slightly after Apple’s impressive earnings report, while Asian markets are mixed and SGX Nifty is indicating flat to negative opening. However we maintain a bullish outlook on our market due to consistent buying by FII’s, impressive quarterly results, and strong domestic economic data.
Actionable: Buy Siemens, Apollo Tyres, Zomato.
Investment Idea: Buy Paytm (Constant improvement in contribution margin and operating leverage will continue to drive its operating profitability.)
Global market:
DOW: – 286
SGX NIFTY: – 30 (prev.close 18285)
NIFTY 50 : 18255
SENSEX : 61749
Institution:
FII: + 1415 Cr
DII: + 442 Cr
NSE:
Advances: 2211 / Declines: 1309
Currency:
Dollar: $ 81.80
Dollar Index: 101.25
Commodity:
Gold: $ 2056 per ounce
Crude: $ 72.75 per barrel
Bonds:
10 year US bond rate: 3.38
10 year Indian Bond rate: 7.01
Derivative:
PCR: 1.23
VIX: 11.73
Today’s Result Announcement – Britannia Industries, One 97 Communications, Adani Power, Ajanta Pharma, Alembic Pharmaceuticals, Bharat Forge, DCB Bank, Equitas Small Finance Bank, Federal Bank, Gujarat Fluorochemicals, Marico, Olectra Greentech, Piramal Enterprises, Sundaram-Clayton, Symphony, Tata Investment Corporation, Windlas Biotech.
Tomorrow’s Result Announcement – Union Bank of India, Bank of India, 3i Infotech, ADF Foods, Aether Industries, Computer Age Management Services, Gujarat Ambuja Exports, Greenpanel Industries, Grindwell Norton, TVS Electronics, Zen Technologies.
Updates:
Coal India – The company will pump in Rs 91,000 crore in various projects, including diversification and mine development, by 2025-26.
Zydus Life Sciences – Company has received final approval from USFDA to manufacture and market Sucralfate tablets USP, 1 gram. Sucralfate is used to treat and prevent ulcers in the intestines by forming a coating over ulcers, protecting the area from further injury. Sucralfate tablets had annual sales of $84 million in US as per IQVIA MAT February 2023.
Securities in ban: Manappuram Finance, GNFC.
Derivative View: On option front, Weekly maximum Call OI is at 18300 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Option data suggests an immediate trading range in between 18100 to 18400 zones.
