2022-05-04 06:23:39
From Advisory Desk 4th May 2022
Market Outlook: Indian markets could open a flat opening inline with global cues. On monday, indian markets recovered sharply and closed near day's high after a gap down opening which shows a resilient support at 16800. Two major events for the day, one is LIC IPO which we see a strong demand from both anchor and retail investors and we have recommending to subscribe the issue. Second is US Fed rate decision which will drive the future market direction. We expect the range bound to continue ahead of FOMC meeting and advise traders to remain stock specific approach.
Actionable: Buy Tata steel, Indian Hotels, Godrej properties.
LIC (Subscribe): IPO opens today for subscription and closes on 9th May. IPO issued at a price band of Rs.904-949 per share.
Global market:
DOW: +67
SGX NIFTY: +100 (prev.close 16985)
NIFTY 50 : 17069
Sensex : 56975
Institution:
FII: - 1853 Cr
DII: + 1951 Cr
NSE:
Advances: 1200 / Declines: 2266
Currency:
Dollar: $ 76.52
Dollar Index: 103.44
Commodity:
Gold: $1862 per ounce
Crude: $105.65 per barrel
Bonds:
10 year US bond rate: 2.97
10 year Indian Bond rate: 7.12
Derivative:
PCR: 0.80
VIX: 20.28
Today’s results announcement: Kotak Mahindra Bank, Tata Consumer Products, ABB India, Adani Green Energy, CarTrade Tech, Adani Total Gas, Equitas Small Finance Bank, Havells India, Bombay Dyeing & Manufacturing Company, Deepak Nitrite, Laxmi Organic Industries, Mahindra EPC Irrigation, Satin Creditcare Network, SIS, Oracle Financial Services Software, Rain Industries, EIH, IIFL Wealth Management, Aptech, Cigniti Technologies, and MAS Financial Services.
Results update:
Above estimates: HDFC, Godrej properties, M&M Finance, Britannia, Devyani International, Titan
Inline estimates: Eris Life sciences
Below estimates: Alembic pharma, Heromotocorp,
Updates:
Voltas - Company has executed the joint venture agreement with Hong Kong-based Highly International, a wholly owned subsidiary of Shanghai Highly (Group) Company. The company will do a design, manufacturing, sale and service of inverter compressors for room air-conditioners, motors for inverter compressors, and their associated parts.
Adani Wilmar - Company has acquired the Kohinoor brand from McCormick Switzerland GMBH for an undisclosed amount. The acquisition would give Adani Wilmar exclusive rights over the brand 'Kohinoor' basmati rice along with ‘Ready to Cook', ‘Ready to Eat' curries and meals portfolio in India. Also, it will strengthen the company's position in the basmati rice business.
Raymond - The Good Glamm Group is in advanced talks to acquire the Raymond Group’s consumer care business, which houses the Park Avenue and KamaSutra brands. The cash-and-stock deal, pegged at around Rs 2,500-Rs 2,800 crore, is expected to be one of the largest acquisitions in the beauty and personal care segment.
Zydus Lifescience (Cadila) - Company announced that it has received final approval from USFDA to market Bortezomib for Injection.
Bortezomib for Injection is used to treat certain types of cancer such as multiple myeloma and mantle cell lymphoma. The medication works by slowing or stopping the growth of cancer cells. Velcade has a market size of USD 1,172mn (as per IQVIA MAT March 2022).
Securities in Ban: NIL.
Derivative View : VIX closed at 19.41. Max Put OI is at 17000 and 16800. Immediate max Call OI is at 17500 and 17300. Option data suggests a wider trading range between 16800 to 17500.
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