Insight Online News
From Advisory Desk : Vikash Sahay
6th October 2022
Market Outlook: The rebound on Wall street halted, with benchmark indices closed slightly lower after two day’s rally. However, futures were trading higher by a half percent. Strong US data and the hawkish FED speak pushed the treasury yields higher again. Crude oil prices jumped above 2% and trading near $94 after OPEC+ decided on an output cut of 2m barrels per day, higher than the estimated. Indian markets could open higher by around 150 points vs Tuesday’s closing, largely inline with Asian markets. Today being weekly expiry, we expect Nifty’s range to be 17071/17167 – 17442/17500 and Banknifty’s range to be 38250/38500 – 39500/40000.
Actionable: Buy Zee Entertainment, Poonawalla Fincorp, Infosys, Renuka Sugars.
SGX NIFTY: +75 (prev. close 17339)
NIFTY 50 : 17274
Sensex : 58065
FII: + 1345 Cr
DII: + 946 Cr
Advances: 2572 / Declines: 874
Dollar: $ 81.52
Dollar Index: 110.97
Gold: $1729 per ounce
Crude: $93.60 per barrel
10 year US bond rate: 3.74
10 year Indian Bond rate: 7.36
Bajaj Finance – In Q2 FY23, the customer franchise increased by 2.6 MM and as on Q2 stood at 62.9 MM vs 52.8mn YoY. New loans booked during Q2 were 6.8 MM vs 6.3 MM YoY. Assets under management grew by 31% YoY to ~₹ 218,350 cr. Deposits grew at 37% YoY to 39400cr as on 30 Sep’22.
Zee Entertainment: CCI has approved the merger between the SONY and Zee Entertainment, subject to certain conditions. As per Media reports, the merged entity may exit the Marathi GEC in a bid to allay CCI concerns on four segments, including Hindi GEC, movies, and Bengali channel.
IEX – Company is achieved 8160 MU volume in September 2022, registering 5% MoM growth. The supply side constraints continued because of high prices of e- auction coal, imported coal and gas. The total volume in September’22 was lower by 8% on YoY basis.
AU Small Finance Bank – Total deposits Rs,58335cr; up 7% QoQ Gross Advances 52452cr; up 6% QoQ. Collection efficiency at 109% in Sep vs 106% in Aug.
JSW Energy – Subsidiary JSW Neo Energy Limited has entered into a Memorandum of Understanding with the Government of Maharashtra for setting up a 960 MW capacity of Hydro Pumped Storage Project viz. Pane (Raigarh) Pumped Storage Project, in the State of Maharashtra.
Jubilant Foodworks – Subsidiary Jubilant Foodworks Netherlands B.V. (“JFN”) has increased its stake in DP Eurasia N.V. (“DPEU”) through various on-market purchases. Total consideration of GBP 28,73,328.
Tata Steel – Subsidiary T S Global Holdings Pte Ltd had entered into an agreement with Oman National Investments Development Company (Tanmia) and the existing shareholders of Al Rimal to transfer its 19% shareholding in Al Rimal to Tanmia thereby divesting its equity stake in Al Rimal from 70% to 51%.
Aditya Birla Capital – Company has received IRDAI approval for 665cr investment by WOS of ADIA in Aditya Birla Health. Approval received for Primary capital infusion of approximately Rs.665 Crore for 9.99% stake in Aditya Birla Health by WOS of ADIA.
Securities in Ban: Nil.
Derivative View: Immediate Max Put OI is at 17000 and 17200 and max Call OI is at 17500 and 17600. Option data suggests an immediate trading range in between 17000 to 17600.