First Call 22Mar21
India Equity Research March 22, 2021 FIRST CALL DAILY REPORT MARKETS Change in % Metals & Mining - Sector Update - Tangshan cuts may push up steel prices 21-Mar-21 1D 1M 1Y Media reports suggest local authorities in Tangshan have imposed a fresh set of Nifty 50 14,558 -1.1 -2.8 76.2 Nifty 200 7,583 -1.2 -2.6 76.7 production curbs on steel value chain until end-CY21 in order to reduce air pollution. Nifty 500 12,174 -1.2 -2.1 78.8 According to Mysteel consultancy, if the draft plan is adopted, pig iron production and iron ore demand would fall by 22mt and 35mt, respectively. Taken together with INDIA STOCK PERFORMANCE the possibility of export rebate cuts, we believe exports from China can reduce significantly, thereby supporting steel prices. 16,000 80,000 14,500 70,000 Dabur India - Company Update - Growing naturally 13,000 (x) 11,500 60,000 (x) We recently met Mr. Mohit Malhotra, CEO of Dabur India, to gain insights into the 10,000 50,000 company’s growth plans, product launches and strategy to counter competition, 8,500 7,000 40,000 among others. Highlights: i) The pandemic has brought in new consumers to the health portfolio. ii) The worst is behind for fruit juices and other segments squeezed Nifty Index MSCI EM Index - Local Currency (RHS) by the lockdown. iii) Strong focus on innovation (recent launches in PET bottle juices, health drops, health juices, Amla-plus juices, pickles and apple cider vinegar are all doing well). GLOBAL 21-Mar-21 1D 1M 1Y Avenue Supermarts - Company Update - Time to whet appetite for online Dow 32,862 -0.5 4.3 63.6 While DMart has taken incremental steps to ramp up online grocery, it still seems to China 3,432 -0.9 -7.1 27.0 be on the sidelines and contemplating its merit.
[Show full text]