Actionable: Buy Sun pharma, M&M, Tata Elxsi, JK Paper.

Insight Online News

From Advisory Desk : Vikash Sahay

1st August 2022

Market Outlook: US markets rallied to end the week on positive quarterly reports. Wall street posts it’s best month since Nov 2020 on account of better-than expected earnings and after FED signals slower rate hikes. Asian markets have started on a mixed note and US futures were trading lower after china july PMI unexpectedly fell to 49 dampened by covid related shutdowns. SGX is indicating a higher opening of around 120 points. We expect the momentum to continue towards 17400 as overall market texture is bullish and immediate support placed at 17000 level. Today, auto stocks will be in focus ahead of monthly sales numbers.

Actionable: Buy Sun pharma, M&M, Tata Elxsi, JK Paper.

Global market:

DOW: +315

SGX NIFTY: +50 (prev. close 17231)

NIFTY 50 : 17158

Sensex : 57570

Institution:

FII: + 1046 Cr

DII: – 1 Cr

NSE:

Advances: 2058 / Declines: 1291

Currency:

Dollar: $ 79.25

Dollar Index: 105.66

Commodity:

Gold: $1779 per ounce

Crude: $103.10 per barrel

Bonds:

10 year US bond rate: 2.66

10 year Indian Bond rate: 7.32

Derivative:

PCR: 0.90

VIX: 16.55

Today’s Result – ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Carborundum Universal, Castrol India, Escorts Kubota, Eveready Industries India, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, Prudent Corporate Advisory Services, Punjab & Sind Bank, The Ramco Cements, RateGain Travel Technologies, Thyrocare Technologies, Triveni Turbine, and Varun Beverages.

Results update:

Above estimates: Sun Pharma, IOC, Cipla, Bank of Baroda, Indian Bank, Cholamandalam finance, Exide Industries, DLF, Metro Brands, JK Paper, IDFC First, Westlife Development, MCX, Star Health, Creditaccess Grameen, LG Balakrishnan, Rain Industries, FCL,

Inline estimates: Torrent pharma, Emami, Mahindra Logistics,

Below estimates: Ashok Leyland, Godrej Agrovet, DCB Bank, Strides pharma

Updates:

Yes Bank – Bank announced raising equity capital worth $1.1 billion (Rs .8,900 crore) through funds affiliated to global private equity investors Carlyle and Advent International for 10% stake each.

Zee Entertainment – Company received approval from BSE and NSE for its proposed merger with Culver Max Entertainment Private Limited (formerly Sony Pictures Networks India Private Limited).

M&M – Company recorded 100,000 bookings for the Scorpio-N within 30 minutes on Saturday, translating into an ex-showroom value of Rs.18,000 crore / approximately $2.3 billion.

Dr Reddy’s – Company has entered into a licensing agreement with Slayback Pharma to obtain exclusive rights in the first-to-file ANDA for the private label version of Lumify in the US. As per industry estimates, the value of the total addressable market for this product in the US is around USD 130 million for the 52 weeks ending June 12, 2022.

HDFC Bank – Bank is likely to raise at least ₹2.2 trillion from public deposits and corporate bonds, and an additional ₹50,000 crore from similar papers to meet capital requirements and other pre-requisites stipulated by the regulator for its merger with HDFC.

Securities in Ban: NIL.

Derivative View: Immediate Max Put OI is at 17000 and 16900 and Max Call OI is at 17600 and 17300. Option data suggests a broader trading range in between 16600 to 17600.

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