2021-08-30 06:05:06
From Advisory Desk 30th August 2021
Market Outlook: Nifty is expected to open 100 points higher, around 16800 as clarity was sought during Jackson Hole address about tapering of bond purchase, which will be conducted by year-end as labour data was encouraging. Asian markets too started higher by half a percent. Gold and Crude has surged over the last week. Over the next couple of days, markets would be closely monitoring auto sales number and GDP-PMI numbers. One should remain stock selective.
Actionable: Buy ICICI bank, Clean science, HUL, Mahindra lifespace.
INITIATING COVERAGE: CLEAN SCIENCE AND TECHNOLOGY | Novel chemistry at play
(CLEAN IN, Mkt Cap USD2.1b, CMP INR1438, TP INR1700, 18% Upside, Buy)
Global market:
DOW: +242
SGX NIFTY: +90 (prev.close 16725)
NIFTY 50 : 16705
Sensex : 56124
Institution:
FII: -779 Cr
DII: +1646 Cr
NSE:
Advances: 1866 / Declines: 1336
Currency:
Dollar: $ 73.68
Dollar Index: 92.63
Commodity:
Gold: $1825 per ounce
Crude: $71.90 per barrel
Bonds:
10 year US bond rate: 1.30
10 year Indian Bond rate: 6.25
Derivative:
PCR: 0.83
VIX: 13.40
Updates:
Bharti airtel: Announces right issue of upto Rs. 21,000 cr at a price of Rs.535 per share and the entitlement ratio will be as 1:14 equity shares held by eligible shareholders as on the record date. It will be a partly paid right issue where money will be paid in 3 tranches in 36 months, 25% on application as upfront payment. Promoters to subscribe to the full amount of their entitlement and subscribe to the unsubscribed portion. Also, as per media reports, Bharti airtel is in advance talks with Google for large investments in the company.
SRF: GPCB has issued a revocation order for resumption of operations in SRF's plants in Dahej chemical complex. Earlier, issued order on 3rd August to suspend operations in P2 plant and other allied plants in Dahej.
Clean Science and Technology: Has forayed into the Hindered Amine Light Stabilizers series which is used in Polymerization inhibitors water treatment, paint coatings etc. The estimated global market size for HALS is $1 billion and CSTL would be the first company to develop HALS series in india.
Burger King india: Company has recently entered into discussions regarding acquisition of a controlling stake in PT Sari Burger Indonesia which manages and operates Burger King brand in Indonesia. Company has submitted non-binding indicative proposal to the offer from the promoters. BK Indonesia had a sales of $100 million in 2019.
Securities in BAN: NIL.
Derivative View : VIX closed at 13.40. Max Put OI is at 16600 then 16500. Max Call OI is at 17000 then 16800. Option data suggests a trading range between 16500 to 17000.
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