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"Markets have been sharply volatile and the drop in Nifty from its high’s is certainly not indicative of the wealth erosion in many retail investor portfolios. Even global equity markets witnessed sharp selling in the aftermath of Russia invading Ukraine. On the economy front, MPC minutes attributed its status quo on rates and stance to the uneven domestic economic recovery and the need to complement fiscal policy" Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities Ltd. wrote in a note. "With earnings season behind us and given the overall sentiments, markets are expected to move in sync with global peers in the coming week. A close eye will be kept on the developments concerning the Russia – Ukraine crisis and considering the inflation overhang, market participants will also observe movements in energy prices".
Coal India shares up 6%, most in seven weeks.
Natco Pharma shares up most in two months.
NTPC shares rise the most in more than seven weeks.
Source: Bloomberg
PNC Infratech bagged a new hybrid annuity highway project of value Rs 885 crore.
The company has been declared the L1 (lowest) bidder for NHAI projet in Uttar Pradesh.
The project is to be completed in 24 hours and operated for 15 years post construction.
Shares of PNC Infratech rose nearly 5% in intraday trade. The stock is trading with 0.8% gains as of 2:55 p.m.
Of the 24 analysts tracking the company, 23 maintain 'buy' and one suggests 'hold'. The overall consensus price of analysts tracked by Bloomberg implies an upside of 55.8%.
Source: Exchange Filing, Bloomberg
Two Factors That Boosted Indian Pharma Market’s Growth In January
Russia-Ukraine Crisis: Economists Flag Higher Inflation Risk, Wider Current Account Deficit For India
Sunflower oil shipments to India are at risk due to Ukraine conflict, says Sandeep Bajoria, president of International Sunflower Oil Association.
Shipments of more than 3,50,000 tonnes of sunflower oil to India are at risk.
Traders in India have contracted to import 5,50,000 tonnes of sunflower oil from Ukraine and Russia for deliveries in February and March.
About 1,80,000 tonnes have already left, but the fate of the rest is now uncertain.
World over, there is going to be a shortage of sunflower oil and prices will rise.
- Sandeep Bajoria, President, International Sunflower Oil Association
Source: Bloomberg
Avendus Hedge Fund On When It Will Start Deploying Cash Again
Anand Subramanian, NSE's Former Group COO, Arrested By CBI: PTI Report
India is Right on Holding Back on Rate Hikes: BofA Treasurer
Russia-Ukraine Crisis Day 2: Here's What We Know So Far
The broader indices outperformed their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap rising over 3.5%. All the 19 sectoral indices compiled by BSE Ltd. advanced, with S&P BSE Metal, Realty, Power, Basic Materials, Finance and Bankex leading the gains.
The market breadth was skewed in the favour of bulls. About 2,548 stocks advanced, 722 declined and 107 remained unchanged.
Rupee recoups some of Thursday's steep losses as risk sentiment revived in Asia. Bonds are higher after RBI's minutes showed policy makers continue to remain fixated on supporting economic growth.
USD/INR down 0.6% to 75.22; rose 1.4% on Thursday, the steepest rise in over ten months.
Source: Bloomberg
President Zelensky says Russian forces are targeting civilian areas.
He urged Russians to protest against the invasion.
Zelensky hailed Ukrainians for their “'heroism” and said Ukraine forces are “doing everything possible” in the situation.
Source: AFP
Maturities across the India sovereign yield curve were little changed in Friday morning trading.
The 4-year yield fell 1.4bps to 5.947%.
The 10-year yield was little changed at 6.759%
The 14-year yield fell 0.9bps to 7.014%
The 4-year-10-year yield spread was 81.2bps, vs previous close 79.9bps.
Source: Bloomberg
The broader indices outperformed their larger peers with S&P BSE MidCap gaining 2.69% and S&P BSE SmallCap adding over 3%. All the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Realty, S&P BSE Metal, S&P BSE Finance and S&P BSE Information Technology leading the gains.
The market breadth was skewed in the favour of bulls. About 2,030 stocks advanced, 560 declined and 66 remained unchanged.
Days like Thursday (Russia - Ukraine war) remind us that consistency of thoughts & advice is so important and hence this is a time to appreciate asset allocation in portfolios. We always recommend keeping at least 20% cash in the portfolio and to have diversification across asset classes that are less correlated with each other. A substantial impact on markets & portfolios has already taken place and this is not at all a time to sell in panic. If there is deployment as per equity allocation, investors could have deployed 15%-20% on drawdowns like today. However, if risk appetite permits they could dip into the cash reserves and invest in equity as a part of tactical asset allocation. Investors should look at investments keeping in mind standard deviation, drawdown, and recovery i.e., investment products that have a better & higher possibility of recouping the losses.Rahul Bhutoria, Director, Valtrust Capital
Siemens India raised to 'add' from 'reduce' at Axis Capital; price target set at Rs 2,520.
Mindtree raised to 'buy' from 'hold' at Anand Rathi Securities; price target set at Rs 5,010.
Source: Bloomberg
Apollo Hospitals To Replace Indian Oil In Nifty 50 From March 31
IndusInd Bank is one of the top contenders to acquire IDFC Asset Management, Mint newspaper reported citing two people aware of the development it did not identify.
IDFC Asset Management has Rs 1.3 lakh crore of assets under management.
IndusInd Bank may be well-placed with about $1 billion of funds for the planned acquisition, according to the report.
Formal bidding process will be completed in March and announcement will be made afterward, the newspaper said.
Spokespersons for IndusInd Bank and IDFC declined to comment to the newspaper.
The package of massive and targeted sanctions approved tonight shows how united the EU is.
— Ursula von der Leyen (@vonderleyen) February 25, 2022
First, this package includes financial sanctions, targeting 70% of the Russian banking market and key state owned companies, including in defence. https://t.co/iKVGfnafKp
Max Ventures & Industries Ltd.'s Max House - Phase 1 project in Okhla is now 100% leased out to marquee domestic and international clients, the company said in an exchange filing.
Max House is the 2nd Grade A+ commercial real estate offering by Max Estates.
Average rental rate for Max House Phase 1 is Rs 125 per square feet per month.
Samsung India Electronics, Nykaa Fashion, Religare Enterprises, Dhampur Sugar Mills are some of the key occupiers.
Source: Exchange Filing
Dhani Loans: A Case Of Identity Theft Or Flawed Processes?
DLF: Axis Capital initiated coverage of the stock with a 'buy' recommendation; price target set at Rs 430.
Jubilant Food: Raised to 'buy' at Canara Bank; price target set at Rs 3,815.
Source: Bloomberg
Indian bond traders are likely to weigh dovish comments from minutes of the latest policy meeting and direction of global yields. A Rs 23,000 crore bond sale, the last scheduled offering for this fiscal year, is also on the radar.
USD/INR rises 1.4% to 75.6537 on Thursday.
10-year yields rose 2bps to 6.76% on Thursday.
Global funds bought Rs 216 crore of sovereign bonds under limits available to foreign investors and withdrew Rs 24 crore of corporate debt.
State-run banks bought Rs 2,080 crore of sovereign bonds on Feb. 24: CCIL data. Foreign banks sold Rs 44.96 crore of bonds.
Source: Bloomberg
Shares of energy companies are in focus after oil prices pared gains as Russian energy supplies were spared from sanctions.
In Focus: Reliance Industries, HPCL, BPCL, Indian Oil, ONGC, Oil India.
Source: Bloomberg
Up to 1,000 people gathered in the former capital Saint Petersburg to protest the invasion of Ukraine.
Several detained by police officers.
Source: AFP
Zelenskiy Says 137 Troops Killed, Tass Reports: Ukraine Update
We will limit Russia’s ability to be part of the global economy. We will stunt their ability to finance and grow Russia’s military. We will impair their ability to compete in a high-tech, 21st century economy.Joe Biden’s Twitter
Stocks To Watch: Apollo Hospitals, Indian Oil, Infosys, JSW Ispat, Minda
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