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IPO update : Spandana Sphoorty to get listed today . It was oversubscribed by 1.05x

IPO update : Spandana Sphoorty to get listed today . It was oversubscribed by 1.05x
August 19
05:06 2019
Vikash Sahay

Vikash Sahay

From Advisory Desk : Vikash Sahay

Market Outlook 19- August 2019 : Global markets closed positive on hopes of stimulus from Central banks around the world . Although, The protest in Hong kong is aggravating with each passing day, The Hangseng index sees no impact and is up by 400 points. Back Home in India, The FM has hinted about the stimulus for the economy to revive. Nifty can see a bounce till 11250 and with a support of 10780. Overall, We are expecting the markets to see a bounce.
Motilal OswalMotilal’s Indian Strategy: 1st Quarter FY20 Results Review – Overall numbers were disappointing with more misses than beats. Moreover, commentaries have turned weaker across the board. Profits were entirely driven by corporates banks off a low base while Commodities and Automobiles dragged the aggregates. Of the 19 sectors we track, 2/9/8 posted profits that were above/in line/below our estimates Of the 203 companies under our coverage, 67 exceeded estimates (80 in 4QFY19), 86 delivered a miss (68 in 4Q) and 50 were in line (47 in 4Q) on the PAT front. Our FY20/21 Nifty EPS estimates have been cut by 3.9%/2.9% to INR560/671.

IPO update : Spandana Sphoorty to get listed today . It was oversubscribed by 1.05x

Actionable : Bata India , ICICI bank

Global market:
DOW: +306
SGX NIFTY: +20
NIFTY 50 : 11047
Sensex : 37350

Institution:
FII: -1339 Cr
DII: +1058 Cr

Currency:
Dollar: 71.15

Commodity:
Gold: $1523 per ounce
Crude: $58.64 per barrel

Bonds:
10 year US bond rate: 1.56
10 year Indian Bond rate: 6.54

Updates:
Sun Pharma : Company grants licence to China’s CMS holding ltd to develop and sell 7 generic products in China . Positive for the company .

Ujjivan Finance : Company files red hearing prospectus to list its small finance bank and plans to raise 1200 Cr via stake sale .

M&M- Company removed around 1500 temporary workers since April due to slowdown in demand. Also deferring investments for the year.

Derivative View – VIX closed at 16.64. Call writing is at 11100 and 11200 strike while Put writing is at 11000 then 10900 strike. Option data suggests a trading range in between 10900 to 11200 zone.

 

Vikash Ranjan Sahay, Founder & CEO , Value Management Solution P Ltd, (Exclusive Business Partner of MotiLal Oswal)

Mr. Vikash Sahay can be contacted at +91 9471133334

SRF – Reported strong quarterly numbers. Both revenue

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