Actionable: Buy Titan, India Cements, Infosys, Zee Entertainment.

Insight Online News

From Advisory Desk : Vikash Sahay

7th October 2022
 
Market Outlook: US markets closed lower by 1% after hawkish comments from few FED officials who reinforced the need to raise rate hikes to tackle the inflation. However, futures were trading flat ahead of Non-Farm Payrolls data tonight. Following the comments, bond yields have surged and dollar index back above 112 level. Asian markets have started on a flat to negative note, with SGX Nifty is indicating a slightly weak opening. USDINR hits record high on account of strong dollar and rising oil prices. Yesterday, nifty couldn’t able to hold the initial gains and corrected from day high amid global weakness. We expect market may trade in range bound today however stock specific action will continue.

Actionable: Buy Titan, India Cements, Infosys, Zee Entertainment.

Global market:

DOW:   -346
SGX NIFTY:   -30   (prev. close 17316)

NIFTY 50 : 17331
Sensex : 58222
 
Institution:
FII:                +  279  Cr
DII:                –  44     Cr

NSE:
Advances:  2299 / Declines:  1159

Currency:
Dollar: $ 81.88
Dollar Index: 112.19
 
Commodity:
Gold: $1718  per ounce
Crude: $94.25  per barrel
 
Bonds:
10 year US bond rate: 3.82
10 year Indian Bond rate: 7.4

Derivative:
PCR: 0.98
VIX:  19.31

Updates:

Titan – Company reports 18% sales growth in Q2FY23, adds 105 stores during the quarter. Its jewellery and watches & wearables segment grow by above 18% & 20% YoY respectively.

Dabur – The company said India business had a steady performance and is expected to report revenue growth in mid-single digit, while international business is expected to post double-digit revenue growth in constant currency. Due to high inflation, operating margin in Q2FY23 is expected to be lower by around 150-200 bps YoY.

Poonawalla Fincorp – Company’s total disbursements rose by 44% during Q2. Total disbursements were Rs. 3,720 crore on a consolidated basis in the year-ago quarter. Sequentially, disbursements rose by 8% in Q2.
 
Macrorech Develooers – Company reported a 57% increase in its sales bookings during Q2 to Rs.3,148 crore on strong housing demand despite the rise in mortgage rate.
 
HCL Technologies – The company has expanded strategic partnership with Google Cloud to accelerate digital services for enterprises. HCL Tech will train up to 18,000 technology and consulting professionals on Google Cloud.
 
Nykaa – Company has signed a strategic partnership with Middle East-based retailer Apparel Group. The company along with Apparel Group will recreate omnichannel beauty retail platform in the Gulf Cooperation Council (GCC). Apparel Group has more than 75 brands with over 2,000 stores across 14 countries.
 
Quess Corp – The company has entered into definitive agreements to divest its 53% stake in subsidiary Simpliance Technologies to Aparajitha Corporate Services, an HR compliance services company. The deal is valued at an enterprise value of Rs.120 crore on a cash and debt-free basis.
Securities in Ban: Nil.
 
Derivative View: Immediate Max Put OI is at 17000 and 16500 and max Call OI is at 18000 and 17500. Option data suggests an immediate trading range in between 17000 to 17500.

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