From Advisory Desk : Vikash Sahay
15th March 2021 : Market Outlook: Ahead of FED meet which is scheduled on 16&17 March, 10 year US bond yield spiked to 1.64%. This kept the markets in US to end in mix. Asian market too are trading in mix. However SGX Nifty is in green by 60 points. VIX spiked by 5% to the level of 21.70. Crude is above $ 70. Nifty crucial support is at 14850.
Actionable: Buy Tata Chemical & Bajaj Finance.
INITIATING COVERAGE| Orient Electric: Reinventing through innovation
(ORIENTEL IN, Mkt Cap USD0.9b, CMP INR295, TP INR350, 19% Upside, Buy)
Laxmi Organic industriesLtd( Subscribe): IPO opens today for subscription and closes on March 17, 2021. Issued at a price band of Rs.129-130 per share.
IPO Listing : MTAR technologies shares to start trading in exchanges today after oversubscribed by 200 times.
SGX NIFTY: +75 (prev.close 15029)
NIFTY 50 : 15030
Sensex : 50792
FII: -943 Cr
DII: -164 Cr
Advances: 1301 / Declines: 1714
Dollar: $ 72.78
Dollar Index: 91.60
Gold: $1728 per ounce
Crude: $70 per barrel
10 year US bond rate: 1.61
10 year Indian Bond rate: 6.23
Tata Communications: Govt to sell its entire 26.12% stake in the company. Initially, Govt will sell a 16.12% stake through offer for sale ( OFS) and remaining 10% stake to Tata son’s investment arm Panatone Finvest ltd immediately after the OFS.
Securities in BAN: BHEL, PNB, SAIL, SUN TV.
Derivative View : VIX closed at 21.70. Max Put OI is at 15000 then 14900. Max Call OI is at 15200 then 15300. Option data suggests a trading range between 14900 to 15300.