INDIA DAILY March 24, 2020 India 23-Mar 1-day 1-mo 3-mo Sensex 25,981 (13.2) (35.6) (37.3) Nifty 7,610 (13.0) (35.7) (37.7) Contents Global/Regional indices Dow Jones 18,592 (3.0) (33.5) (34.8) Daily Alerts Nasdaq Composite 6,861 (0.3) (25.6) (23.4) Change in Reco FTSE 4,994 (3.8) (30.2) (34.6) HDFC Bank: Fresh opportunity into an attractive franchise Nikkei 17,661 4.6 (24.5) (25.8) Hang Seng 21,696 (4.9) (19.1) (22.1) Tailwind of a decade low valuation leading to an upgrade KOSPI 1,557 5.0 (25.1) (29.1) Timing of upgrade is risky along with the multiple assigned; but franchise is Value traded – India strong, in our view Cash (NSE+BSE) 369 513 406 Earnings risks comes from three sources: revenue, costs and provisions Derivatives (NSE) 6,778 33,194 7,387 Deri. open interest 2,688 5,090 3,548 Company alerts Tata Power: Sliver of hope Forex/money market Legal advisory allows individual amendment of PPAs, could bring an end to Change, basis points Mundra troubles 23-Mar 1-day 1-mo 3-mo Targeting asset monetization of Rs50 bn in FY2021 to address leverage Rs/US$ 76.4 (2) 436 513 concerns 10yr govt bond, % 6.9 (7) 21 (12) Maintain BUY rating with revised fair value estimate of Rs60/share Net investment (US$ mn) 20-Mar MTD CYTD Sector alerts (6,698 FIIs (460) (4,911) ) Media: Box office trends: Rs1 bn - the new normal? MFs 157 2,845 4,500 Box office drivers of 2019: Bollywood movies #6-25 and Hollywood Top movers Change, % Best performers 23-Mar 1-day 1-mo 3-mo CDH IN Equity 280 (0.7) 2.0 8.5 DIVI IN Equity 1,852 (7.2) (14.3) 1.9 HUVR IN Equity 1,870 (8.9) (15.6) (3.9) DRRD IN Equity 2,768 (4.4) (12.8) (4.4) DMART IN Equity 1,820 (5.0) (23.8) (4.6) Worst performers IIB IN Equity 336 (23.6) (71.2) (77.9) IHFL IN Equity 96 6.0 (70.9) (69.0) EDEL IN Equity 37 (10.0) (60.1) (66.9) MSS IN Equity 53 (19.9) (53.4) (63.5) TTMT IN Equity 66 (14.4) (56.1) (62.3)
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