EQUITY DAILY REPORT 22nd February, 2021
Index Chart Market Wrap Up
● Domestic shares plunged with the Nifty falling below the 14,700 mark. Rising COVID-19 cases and negative global cues spoiled sentiment.
● The S&P BSE Sensex, slumped 1,145.44 points or 2.25% to 49,744.32. The Nifty 50 index lost 306.05 points or 2.04% to 14,675.70.
● The BSE Mid-Cap index fell 1.34% and the BSE Small-Cap index declined 1.01%.
● Among the sectoral indices on the BSE, the Metal index (up 2.24%), the Basic Materials index (up 0.24%) and the Telecom index (down 1.03%) outperformed the S&P BSE Sensex. Meanwhile, the Energy index (down 2.92%), the Realty index (down 2.88%) and the IT index (down 2.58%) underperformed the S&P BSE Sensex.
(Source: Capitaline Market Commentary)
Derivative Watch
● Nifty March series futures witnessed an unwinding (Source: Bloomberg) of short position. Open Interest has been decreased by 15392 contracts at the end of the day. Indian Markets ● Long position build up for the March series has been witnessed in HDFCBANK. Indices Close Previous Change(%) ● Short position build up for the March series has NIFTY 50 14675.70 14981.75 -2.04% been witnessed in LT, BHARTIARTL, ICICIBANK, S&P BSE SENSEX 49744.32 50889.76 -2.25% HDFC, INFY. NIFTY MID100 22822.80 23118.75 -1.28% NIFTY SML100 7885.05 7980.25 -1.19% ● Unwinding position for the March series has been (Source: NSE, BSE) witnessed in RELIANCE, ONGC. (Source: Capitaline F&O) Sectoral Indices Indices Close Previous Change(%) NIFTY BANK 35257.20 35841.60 -1.63%
NIFTY AUTO 10300.00 10540.35 -2.28%
NIFTY FMCG 32891.70 33336.80 -1.34% Corporate News NIFTY IT 24766.45 25503.20 -2.89% ● The Power Transmission & Distribution (PT&D) Business NIFTY METAL 3609.10 3552.10 1.60% of Larsen and Toubro has won a slew of orders across NIFTY PHARMA 12032.30 12347.40 -2.55% its spectrum of offerings. As traditional power NIFTY REALTY 338.30 348.05 -2.80% generation companies rapidly enhance renewable BSE CG 21305.14 21786.39 -2.21% capacities in their portfolios, PT&D has secured two EPC BSE CD 31206.10 31837.19 -1.98% orders to establish more than 400 MW Solar BSE Oil & GAS 15177.59 15433.88 -1.66% Photovoltaic projects in the state of Gujarat. A 765kV BSE POWER 2376.28 2416.34 -1.66% Double Circuit Transmission Line package has been
received through a project specific transmission (Source: NSE, BSE) company. Another order to construct 220kV and 132kV Transmission Lines has been won from the WB transmission utility. The business has won a 400 kV Asia Pacific Markets Substation order in Tamil Nadu. In Qatar, the business Indices Close Previous Change (%) has won an order to install line connected current Nikkei225 30156.03 30017.92 0.46% limiting reactors for the first time in the country's HangSeng 30319.83 30644.73 -1.06% network. Straits Times 2881.21 2880.64 0.02% ● Dr Reddy's Laboratories has launched Lansoprazole Shanghai 3642.44 3696.17 -1.45% delayed release orally disintegrating tablets, used to Kospi 3079.75 3107.62 -0.90% treat certain stomach and esophagus problems, in the Jakarta 6255.31 6231.93 0.38% US market. The product is a therapeutic equivalent Taiwan 16410.16 16341.38 0.42% generic version of Prevacid SoluTab delayed release KLSE Composite 1570.46 1584.93 -0.91% orally disintegrating tablets approved by the US Food All Ordinaries 7061.60 7064.00 -0.03% and Drug Administration (USFDA).
(Source: Yahoo Finance) ● Glenmark Pharma's Swiss subsidiary has received marketing approval from the Russian health regulator for its nasal spray Ryaltris. Ryaltris is indicated for Exchange Turnover (Crores) symptomatic treatment of seasonal and perennial Market Current Previous allergic rhinitis in adults and children over 12 years of NSE Cash 74535.25 84174.35 age. The drug relieves symptoms of allergic rhinitis, NSE F&O 3387130.40 2755176.55 including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes. (Source: NSE) ● Mindtree has announced that it has achieved the Application Development Partner Specialization in the Google Cloud Partner Advantage Program. This FII Activities (Crores) specialization highlights Mindtree's expertise and ACTIVITIES Cash success in building customer solutions in application NET BUY - development using Google Cloud technology. NET SELL 893.25 ● NTPC Limited's 5 MW last part capacity for 20 MW (Source: NSE) Auraiya Solar PV Project at Auraiya, UP, has been declared on Commercial Operation from February 20, 2021, after successful commissioning.
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Top Gainers SCRIP NAME Close Previous Change (%) ● Adani Ports SEZ has incorporated a wholly-owned ADANIPORTS 673.80 653.50 3.11% subsidiary company "Aqua Desilting Private Limited". JSWSTEEL 406.10 395.65 2.64% HINDALCO 316.10 308.00 2.63% ● Tata Consumer Products has completed the TATASTEEL 684.55 670.70 2.07% acquisition of 100% of the equity share capital of the ONGC 106.30 105.10 1.14% Kottaram Agro Foods Private Limited. ● (Source: Moneycontrol) McNally Bharat Engineering Company Limited (Lead partner of Joint Venture) as "McNally-Trolex-Kilburn (JV)" has received an order of Rs531.00cr from Northern Coalfields Limited (NCL) through Letter of Acceptance Top Losers on February 20, 2021. The company as "McNally-AML SCRIP NAME Close Previous Change (%) (JV)" has received an order of Rs643.10cr from Northern M&M 837.10 879.25 -4.79% Coalfields Limited (NCL) through Letter of Acceptance DRREDDY 4469.25 4681.45 -4.53% on February 20, 2021. TECHM 950.70 993.95 -4.35% ITC 207.05 215.95 -4.12% ● Dhani Services Limited, through its overseas subsidiary INDUSINDBK 1022.90 1065.90 -4.03% Dhani Limited, Jersey, entered into a share purchase agreement (SPA) to acquire a UK incorporated (Source: Moneycontrol) company, Dhani Ltd (Target Company) for 100 GBP.
● Jubilant Food said it will fully acquire Fides Food Systems ● Gayatri Highways Limited has proposed to acquire Cooperatief UA Netherlands (Fides) for an agreed 51% of Equity Share Capital in Balaji Highways Holding investment of 24.8 million pounds, through its Private Limited. wholly-owned subsidiary Jubilant FoodWorks Netherlands BV. ● Vivimed Labs Limited has announced that it received approval for 1 product from Uzbekistan Government for ● Global Aerospace and Technology company Paramount its PICS & Health Canada approved site, both facilities Group and India based Engineering & Technology are situated at Hyderabad. conglomerate Bharat Forge Limited, has announced a cooperation that will see them join the technologies, ● Steel Strips Wheels Limited confirms export orders of capabilities and expertise of both groups in order to over 93,000 wheels for EU caravan trailer market. manufacture Armoured Vehicles in India. (Source: Business Standard, Economic Times, Smart investor)
Global News
● U.S. IHS Markit manufacturing PMI dropped to 58.5 in February from a final reading of 59.2 in January. Services sector PMI edged up to 58.9 from a final reading of 58.3 in January. The flash composite PMI Output Index inched up to 58.8 from a final a reading of 58.7 in January.
● U.S. existing home sales rose by 0.6% to an annual rate of 6.69 million in January after climbing by 0.9% to a revised rate
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of 6.65 million in December.
● U.K. CBI order book balance improved to -24% in February from -38% in January.
● Germany's ifo business confidence index rose to 92.4 in February from revised 90.3 in the previous month. The current conditions indicator came in at 90.6 in February, up from 89.2 the previous month. The business expectations indicator improved to 94.2 from 91.5 a month ago.
(Source: Market Watch, RTT News, Reuters, Bloomberg)
Economic News
● Crude Oil traded at US$ 61.07/bbl (IST 17:00).
● INR strengthened to Rs. 72.49 from Rs. 72.64 against each US$ resulting in daily change of 0.21%.
● India-UK bilateral relations will touch a new high in the post-COVID world, as India is likely to be a priority country for the UK, leading to an enhanced economic partnership. According to the Britain Meets India report, developed by CII and Grant Thornton Bharat, FDI inflow from the UK to India for a particular year increased from USD 898 million in 2015-16 to USD 1,422 million in 2019-20.
● The government has begun clearing foreign direct investment (FDI) proposals from China on a "case-by-case" basis, ending the freeze on such clearances that lasted around nine months.
● The government could hive off the non-performing loans of the two public sector banks that are to be selected for privatisation and transfer some of their employees to other state-run lenders in a bid to make them attractive for buyers.
● The government may consider privatising Oriental Insurance or the United India Insurance Co as their financial health has improved after a series of capital infusions, people aware of the development said. To further strengthen their financial health, the government is expected to infuse Rs 3,000 crore in the public sector general insurance companies during the current quarter.
● The government has tweaked the guidelines for strategic disinvestment, making security clearance mandatory for all bidders who put in price bids for buying a central public sector enterprise (CPSE).
(Source: Economic Times, Business Standard)
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Forthcoming Events
Board Meetings as on 23/02/2021
Uniply Industries Limited Financial Results Venus Remedies Limited Other business matters Sanofi India Limited Financial Results/Dividend Huhtamaki India Limited Financial Results/Dividend Safari Industries (India) Limited Fund Raising Stove Kraft Limited Financial Results/Other business matters
(Source: NSE)
Corporate Actions as on 23/02/2021
Arvind Fashions Limited Rights 3:20 @ Premium Rs 131/- Cochin Shipyard Limited Interim Dividend - Rs 4 Per Share Ircon International Limited Interim Dividend - Rs 1.30 Per Share NIIT Limited Buy Back Oil India Limited Interim Dividend - Rs 3.50 Per Share Precision Wires India Limited Interim Dividend - Rs 2 Per Share SJVN Limited Interim Dividend - Rs 1.80 Per Share United Drilling Tools Limited Interim Dividend - Rs 0.90 Per Share Zuari Global Limited Interim Dividend - Re 1 Per Share
(Source: NSE)
22.02.2021
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