RBI Exploring Investment Options For Reserves: Report
 
The official said that the RBI was studying the possibility of investing in AAA-rated corporate dollar bonds, which offer better returns than sovereign credit. https://t.me/marketswizard

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_*Brokerage Radar*_

*CLSA On State Bank of India*
Buy rating maintained, Price target raised to Rs 330 from Rs 310
Growth in NII, PPoP, commentary on asset quality was reassuring
Reduce estimated credit costs to 200 bps from FY21 from 230 bps earlier
Reduction in credit costs drives 60% earnings estimate increase for FY21
Expect RoE of 7.6%, 9.7% and 11.9% in FY21, FY22 and FY23 respectively
Valuations should start to mean-revert as uncertainty around asset quality decreases

*Morgan Stanley On State Bank of India*
Upgrade to overweight from equalweight, Price target raised to Rs 280 from Rs 215
Risk-reward balance is now attractive
Macro tail risk has diminished and asset quality trends have held up well
Well positioned on liquidity
Expect ~9% RoE in FY22e and 13% in FY23e
A sharp rise in Covid-19 cases is a key risk to the thesis

*Nomura on SBI*
Maintain Buy, TP raised to Rs 275
In-line qtr; NIM surprise drives earning upgrade
Re-rating imminent
Higher Share Of PSUs Aiding Better Asset Quality
Agri/SME Slippages Of Rs 9000 Cr/Rs 5100 Cr Was A -ve Surprise

Goldman maintains Buy call on SBI, target price at at Rs 301/sh.

UBS maintains Buy call on SBI, raise target at Rs 275/sh.

Macquarie maintains Outperform call on SBI, raise target at Rs 308/sh.

JP Morgan maintains Overweight call on SBI, target price at Rs 270/sh.

*CLSA On HPCL*
Upgrade from Sell to Buy, Price target raised to Rs 225 from Rs 180
Open market buyback of more than 18% of current free float is good news
A miss on core Ebitda but inventory gains drive profit beat
Buyback will give the right bang for buck
Raise FY21 EPS estimates by 62% and FY22 EPS estimates by 1%
High marketing exposure puts it at an advantage versus IOC and BPCL

*MS on HPCL*
Outperformed peers on margin quality & volume
recovery, & announced a buyback at 34% premium to CMP
Demand recovery, return of capital & steady upside in
margins are key triggers ahead
Maintain OW, TP Rs 246

JP Morgan maintains Overweight call on Hind Petro, larger beat expectations

*Credit Suisse on Steel:*!In Nov 20 prices hiked for 5th straight month.
Picks include Tata Steel and JSPL

*MS maintains Overweight Indigo:*
Domestic airline passengers reach 2.06 lakh on November 1, down 52% YoY.

JP Morgan maintains Buy call on USL, maintain target at Rs 580/sh

CLSA has downgraded Godrej Properties, cut target price at Rs 950/sh https://t.me/marketswizard

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News and Impact

Expect market to open on a positive note on account of global cues. U.S. stocks closed higher as election results continued to come in Wednesday. Dow Jones climbed up 367 points (intra-day gained 800 points) and Nasdaq surged 4% as investors awaited the final outcome of the U.S. election, with Joe Biden on the brink of taking the White House from President Donald Trump, but Republicans likely to maintain their hold on the Senate. Investors frantically bid up technology and drug stocks Wednesday, sending major averages to the biggest rallies in five months, as they grew more confident that the tightly contested outcome would ensure key elements of the bull market remain intact for years to come. US Dow Future is up 0.1% and SGX Nifty is up 1.5% or 177 points.

European equities climbed as the U.S. presidential battlefield narrowed to a smaller number of states,with both incumbent Donald Trump and Democrat Joe Biden still locked in a race that remains too close to call. FTSE, CAC and DAX Index gained 2% each.

Asian market witnessed smart rally. Japanese stocks rose (up 1%) as the market focused on a tighter-than-expected U.S. presidential election. Electronics and drug makers were the biggest boosts to the Topix index. Hong Kong, Taiwan and South Korea Index advance 1-2% each.

Oil declined in Asian trading today – after jumping the most in a month on Wednesday -- as the market digested the implications of a close and still undecided U.S. election. Brent Crude declined 1% to $40.5/bbl.

Gold steadied to trade above $1,900 an ounce s investors awaited the final outcome of the U.S. election, with Joe Biden on the brink of taking the White House from President Donald Trump, but Republicans likely to maintain their hold on the Senate.

Expect intra-day volatility continue ahead of outcome on US Election results and weekly Nifty and Bank Nifty expiry. US Fed interest rate decision and its commentary (today Night, India Impact tomorrow) will be important for the market. Traders buy on decline strategy in the market. However, domestic factors remain positive on account of strong quarterly results, impressive October Auto sales volume, FIIs buying interest, improved economy data (October Service PMI 8-month high and 12 years high Manufacturing PMI). Yesterday, FIIs were net buyers Rs146cr while DIIs net were sellers Rs8cr

Actionable – BUY Voltas, Bandhan Bank, Maruti, SRF, HPCL, United Spirits, PVR

Brokers Radar – SBI TGT by CLSA at 330 from 310, HPCL raised TGT by CLSA to 225 from 180, Godrej Propertius CLSA cut TGT from 990 to 950

Events – Prime Minister Narendra Modi will chair a virtual conference of global investors; RBI to purchase state govt bonds via open-market operations; Top Court hearing case on Loan-Interest Waiver, US Fed interest rate decision, UK Lockdown commence from today, Weekly Banks and Nifty expiry,

Results - ABB India, AB Capital, Adani Power, Adani Transmission, Apar Industriers, Astrazenaca, Bajaj Electricals, Beeger Paints,, Pratap Snacks, Birla Corp, Birla Soft, Caplin Point, CESC Vebture, Chambel Fertlizer, Dalmia Bharat, Dish TV, Eclerx, Emami, Godavari Power, Godrej Consumers, Greaves Cotton, Gujarat Gas, ICRA, Indostar Capital, Inox Leisure, Jamna Auto, Matrimony, Minda Corp, Somany Ceramics, Spencer Retail, Sumitomo Chemicals, Torrent Power, Trent and Vinati Organics.

Market summary - Services Gauge Rises to Highest in Eight Months, SRF, HPCL and United Spirits reported strong Q2 results while SBI announced inline with expected Q2 results, fall in NPA. HPCL shares buy-back over 34% premium of 7% equity, Jindal Power Wins Block In Chhattisgarh On Day 3 Of Auction

Jindal Steel – On the third day of the commercial coal mining auction on Wednesday, Jindal Power won a block in Chhattisgarh, while JMS Mining made the highest bid for a mine in Madhya Pradesh – Positive for Jindal Steel

Media report that the Dabur India May Hike Product Prices As Raw Material Costs Rise – Positive

Adani Enterprises (ADE): Plans INR500B Capex in Five Years, CFO Says- Positive

Tube Investments: Bo

ard approved providing of guarantee(s) in favour of lenders of CG Power and Industrial Solutions towards the financial assistance to be availed by CG Power for an aggregate amount of up to Rs.1,400 crore.- Positive for Tube Investments

Kalpataru Power : All approvals for the sale of Alipurduar Transmission have been received. The company expects to receive cash proceeds this month. – Positive

PVR, Inox Leisure in focus today as the Maharashtra government allowed cinema hall, theatres, multiplexes to open with 50% capacity from today.- Positive

SBI Cards and Payment Services partners with Paytm to launch Paytm SBI Card. – Positive

Adani Gas has signed a definitive agreement for the acquisition of city gas distribution (CGD) network in three Geographical Areas (GA) namely Ludhiana, Jalandhar and Kutch (East) from a consortium led by Jay Madhok Energy. – Positive

SRF approves second BOPP Film line and Metallizer projects in Indore worth Rs424cr – Positive

MCX has invited proposals from technology companies to set up an advanced commodity derivatives platform for trading and clearing services, as its contract with 63 Moons will expire in September 2022.- Positive

Services Gauge Rises to Highest in Eight Months - The Markit India Services PMI SA climbed to 54.1 last month, the highest level since February’s 57.5 – Expects positive for economy

Rating agency S&P revises Tata Motor outlook to negative from stable – Any decline will be buying opportunity on Tata Motor.

Watch on PVR and Inox Leisure – Cinema Hall will be re-open in Mumbai from today - positive

Bharat Forge North American Class 8 net orders at 38,900 units, up 27% (YoY) – Positive

Lasa Supergenerics bags environmental clearance for Benzimidazole derivatives capacity expansion – Positive

Pidilite Industries – The acquisition of Huntsman Advanced Materials Solutions. The company has completed the acquisition of 100% stake in HAMSPL on November 3, - Positive

HPCL announced share buy-back at Rs250 a share (34.4% premium at Rs186) worth Rs2500cr or 7% equity - Positive

SBI said it followed the Supreme Court’s instructions in the Gajendra Sharma v/s Union of India case where the judiciary had asked banks not to classify any accounts as NPA after Aug. 31. If the instructions were not in place, SBI’s gross and net NPA ratios would have been at 5.88% and 2.08%, respectively.

Adani Enterprises income Rs362cr (up 633% YoY), EBITDA Rs951cr (up 76% YoY), Income Rs9130cr (up 8% YoY) – impressive Q2 results but higher debt is a concern – avoid

SBI reported impressive Q2 results and improved asset quality. Company reported net profit Rs4574cr (up 52% YoY) – expectation Rs3150cr, provision Rs10120cr vs Rs12500cr (QoQ) (expectation Rs12670cr), NII Rs281812 (up 14.5% YoY) – expectation Rs26890cr, Loan Provision Rs5620cr(down 40%) , NIM 3.34% vs 3.22% (YoY), GNPA 5.28% vs 5.40% (QoQ) – expectation 5.2%, NPA 1.59% vs 1.86% (QoQ) – expectation 1.7%, Provision Coverage 88.19%, slippage Rs14388cr,.

Lupin Labs reported inline with expected Q2 results. Company reported Q2 net profit Rs214cr (up 96% QoQ) – expectation Rs198cr, EBIT Rs368cr (down 5% YoY) – expectation Rs374cr, EBIT margin 9.61% vs 13% (YoY) – expectation 10% and income Rs3835cr (down 1.2% YoY) – expectation Rs3758cr

Jubliant Life reported better than expected Q2 EBITDA. Company reported Q2 net profit Rs224cr (down 24% YoY) – expectation Rs192cr, EBITDA Rs493cr (up 5.3% YoY) – expectation Rs436cr, EBIT margin 15.6% vs 15.5% (YoY) – expectation 15% and Income Rs2330cr (up 4%) – expectation Rs2139cr

United Spirits reported strong Q2 results. Q2 net profit Rs128.4cr (down 43% YoY) – expectation Rs64.1cr, Ebitda Rs270cr (down 35% YoY) – expecattion Rs179.6cr, Ebitda margin 12.6% vs 18.1% (YoY) – expectation 12% and Income Rs2146cr (down 4.5% YoY) – expectation Rs1492cr. After adjusting for the one-time sale of bulk Scotch last year, underlying net sales declined 3.4%. Volume growth declined 3.9% (estimates -32%). Reported PBT declined 46.5% YoY to Rs170cr (estimates Rs85.6cr).

SRF Q2 net profit Rs315cr (up 4.7%

YoY), Ebitda Rs572.2cr (up 73% YoY) – expectation Rs384cr, Ebitda Margin 27.2% vs 19% - expectation 20.8% and Income Rs2100r (up 21% YoY) – expectation Rs1849cr

HPCL Q2 net profit Rs2480cr (up 136% YoY) – expectation Rs1350cr, GRM $2.58/BBL vs $1.87/bbl – expectation $2/bbl, Tax Paid Rs815cr vs Rs560cr – expectation Rs450cr, Ebitda Rs3600cr (up 47% YoY) – 58% BEAT, income Rs61340cr (down Rs7.3% YoY) – expectation Rs56370cr. EBITDA stood higher YoY led by better average marketing margins at Rs7.1/lit in 1HFY21 (v/s Rs4.1/lit in 1HFY20).

Indian Hotel reported lower than expected Q2 results. Company reported consolidated Revenue declined 75% YoY to Rs256.7cr (est. Rs302.2cr). EBITDA loss was broadly in-line with our estimates and stood at Rs150.3cr vs gain of Rs160.5cr last year. Reported net loss of Rs245.5cr vs gain of Rs71.5cr last year.

Positive for metal stocks on Price Hikes and impressive global economy data - Metal stocks expected to be positive on account of steel players hiked metal price in the last three months from August to October. Moreover, hope of metal demand will improve after strong PMI data announced by US, Germany, India and China. We are positive on JSW Steel, Jindal Steel, NMDC, Hindalco.

Auto stocks expects momentum ahead of festival sessions - Automakers have step the production as dealerships are running low on stock ahead of Diwali after their retailed more cars and SUVs in Oct then what the manufacturer's supplied. https://t.me/marketswizard

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India Today:
* US stocks surged to close higher on Wednesday as the presidential election race remained cloudy but the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact.

* Asian share markets firmed on Thursday while bonds held big gains as investors awaited a clear result from the U.S. election, with the likely prospect of policy gridlock seemingly warmly welcomed by Wall Street overnight.

* Trends on SGX Nifty indicate a gap-up opening for the index in India, NIFTY Nov future closed at 11825.0 with a premium of 11 points, while Dec futures were at a premium of 31 points towards close.

* Insti Flows: FII(Rs bn):Cash+1.5 IdxFut-2.90 IdxOpt-1.36 SSF+7.64 SSO-0.67, DII-0.08 Fut OI, OI% & basis:Nif Rs134bn+5%, +14 & Bnif Rs47bn-8%, +23 SSF Rs1048 +5.20% Tot OI Rs 2538+ 13.0%.

* Prime Minister Narendra Modi will chair a virtual conference of global investors; RBI to purchase state govt bonds via open-market operations; Top Court hearing case on Loan-Interest Waiver; Godrej Consumer, ABB India, Container Corp., ICRA are among companies to report earnings; External Affairs Minister S. Jaishankar to speak.

* India Virus Tracker: Cases 8.31 million; Deaths 123,611 | Virus Tracker: Global Cases 48 Million; Deaths 1.22 Million | Covid-19 Surges Across U.S.; Europe Tightens Rules.

 

Open Interest Activity 

Nifty Stock :

Long Buildup : ADANIPORTS | KOTAKBANK | SBIN | DRREDDY | INDUSINDBK | WIPRO | CIPLA

Short Covering : SUNPHARMA | HEROMOTOCO | TECHM | AUROPHARMA | RELIANCE

Short Buildup : BHEL | INFRATEL | IDEA | GRASIM | HDFC | HINDALCO | NTPC

Long Liquidation : AXISBANK | ICICIBANK

Non-Nifty Stock :

Long Buildup : MRF | PVR | APOLLOTYRE | GLENMARK | COFORGE | GODREJCP | SRTRANSFIN | EXIDEIND | JINDALSTEL | HAVELLS

Short Covering : BALKRISIND | MFSL | SIEMENS | AUROPHARMA | BHARATFORG | MOTHERSUMI

Short Buildup : COLPAL | LICHSGFIN | BHEL | CUMMINSIND | MUTHOOTFIN | FEDERALBNK | PNB | IDEA

Long Liquidation : CHOLAFIN | TATACHEM

 

Nifty

26-Nov-20

Max Put OI is @ 11000 (34k ctc) & 11500 (29k ctcs)

Max Call OI is @12k (24k ctc).

Put added OI is @ 10000 (9k ctcs

Call added OI is @ 13 k (4k ctcs)

BankNifty

Max Put OI is @ 21k (9k ctcs)

Max Call OI is @ 27k (11k ctcs)

 

EARNINGS

* ABB India Ltd. (ABB) 3Q

* Adani Power (ADANI) 2Q

* Adani Transmission (ADANIT) 2Q

* Aditya Birla Capital (ABCAP) 2Q

* AstraZeneca Pharma India (ASTR) 2Q

* Bajaj Electricals Ltd. (BJE) 2Q

* Berger Paints (BRGR) 2Q

* Birla Corp. (BCORP) 2Q

* Chambal Fertilizers (CHMB) 2Q

* Container Corp. (CCRI) 2Q

* Dish TV India (DITV) 2Q

* eClerx Services (ECLX) 2Q

* Emami Ltd. (HMN) 2Q

* Dalmia Bharat (DALBHAR) 2Q

* Godrej Consumer Products (GCPL) 2Q

* Greaves Cotton (GRV) 2Q

* Gujarat Gas (GUJGA) 2Q

* ICRA Ltd. (ICRA) 2Q

* IndoStar Capital (INDOSTAR) 2Q

* INOX Leisure (INOL) 2Q

* Minda Corp. (MDA) 2Q

* Prataap Snacks (DIAMOND) 2Q

* Somany Ceramics (SOMC) 2Q

* Trent Ltd. (TRENT) 2Q

* Torrent Power (TPW) 2Q

 

ON THE RADAR/ EQUITY PREVIEW:

* Adani Enterprises (ADE): Plans INR500B Capex in Five Years, CFO Says

* Adani Green (ADANIGR): 2Q net income -81% y/y to 188m rupees

* Apollo Tyres (APTY): 2Q net income 1.99b rupees vs. 830.7m y/y, beats est. 703.4m

* Hindustan Petroleum (HPCL): 2Q net income 24.8b rupees vs. 10.52b y/y, est. 14.8b; revenue -7.3% y/y to 613.4b; To buy back up toINR25b of shares at maximum INR250 each

* Indian Hotels (IH): 2Q net loss 2.3b rupees vs. profit 713.1m y/y, revenue -75% y/y to 2.57b

* Jindal Steel (JSP): Unit Jindal Power top bidder for Gare Palma 4/1 Coal Mine in India: Coal ministry

* Jubilant Life (JUBILANT): 2Q net income -10% y/y to 2.24b rupees, est. 2.46b; revenue +4% y/y to 23.3b

* Kalpataru Power (KPP): Total order book at INR265.2b as of Sept. 30

* KEC International (KECI): 2Q net income +3% y/y to 1.43b rupees, est. 1.26b; revenue +16% y/y to 32.6b

* L&T Finance (LTFH): To consider proposal for raising via equity/bonds Nov. 9

* Lupin (LPC): 2Q revenue 38.35 billion rupees, estimate 37.93 billion

* Pidili

te Industries (PIDI): 2Q profit +10% y/y to 3.56b rupees, est. 2.56b

* SRF Ltd. (SRF): 2Q net income +5% to 3.15b rupees, est. 2b; revenue +21% y/y to 21b

* Thermax (TMX): 2Q net income +22% y/y to 312.4m rupees, misses est. 576.5m; revenue -29% y/y to 11.4b

* United Spirits (UNSP): 2Q net income -43% y/y to 1.28b rupees, est. 1.22b; revenue 2.5% y/y to 74.6b

* Biden’s Wins in Michigan, Wisconsin Put Him on Brink of Victory

* India Spending Less on Growth Drivers Amid Deficit Blowout Risk

* India Poised to Recover at A Fast Pace, Finance Ministry Says

* Global Funds Buy Korean, Indian Bonds; Sell Indonesian Debt

* India Keeps Capacity Cap on Local Airlines at 60% Until Feb. 24

* Indians May See Better Pay Hikes in 2021 Than Last Year: Survey

* Bumper rains, tax mop up and stimulus to aid companies

* Largest Indian Bank Warns on Bad Debt as Profit Beats Estimates

* Expects retail loans to drive business as economy recovers

* Hindustan Petroleum Expects Integration With MRPL in FY22

* Apollo India Fund’s Two Partners Quit After Split From ICICI

* Apollo will now invest in India from its global pool

* India Top Court hearing Loan-Interest Waiver Case Nov. 5

* India Court to Hear Jharkhand Plea to Stop Coal Mine Bids Nov. 6

* Global Funds Buy Net INR1.46B of India Stocks on Wednesday: NSE

* Domestic funds sell net 81.3m rupees of stocks

* Foreign Investors Buy Net INR15.4B of Indian Equities on Nov. 3

* Foreigners Buy Net IN2.71B of India Equity Derivatives Wednesday

* Abu Dhabi’s Wealth Fund Invests in SoftBank-Backed Tech Startup

 

GOVERNMENT (All times India Time):

* 11:30am: Social Justice Minister Thaawarchand Gehlot to inaugurate a camp for free distribution of Assistive Aids and devices for Divyangjans of North Mumbai under the ADIP scheme virtually through online video streaming

* 2:30pm: External Affairs Minister S. Jaishankar to inaugurate CII-MEA “India-Nordic-Baltic Conclave 2020”

* India’s Modi to Chair Investors’ Conference on Thursday Evening

 

BOND SALES/PURCHASES:

* RBI to Purchase INR100b of State Govt Bonds Via Open-Market-Operations

 

CORPORATE EVENTS:

* 12pm: Balrampur Chini will host a conference call on 2Q FY21 results

* 12pm: United Spirits to host conference call on 2Q FY21 results

* 4pm: Apollo Tyres conference call to discuss on 2Q FY21 earnings

* 4pm: Godrej Agrovetconference call to discuss 2Q FY21 earnings

* 5pm: Godrej Consumer Products conference call on 2Q FY21 results

* 6pm: Lupin to hosts conference call to discuss on 2Q FY21 earnings

* Birla Corp. to consider issue of NCDs on private placement

* Minda Corp. to consider the preferential issue of equity shares

 

OFFERINGS:

* Gland Pharma, Holders Seek Up to $871M in India IPO at INR1,490-INR1,500 each, offer open Nov. 9-11: Terms

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Result Today
Godrej Consumer Products Ltd.
Berger Paints India Ltd.
Adani Transmission Ltd.
Trent Ltd.
Container Corporation Of India Ltd.
Gujarat Gas Ltd.
ABB India Ltd.
Emami Ltd.
Aditya Birla Capital Ltd.
Torrent Power Ltd.
Sumitomo Chemical India Ltd.
Dalmia Bharat Ltd.
Adani Power Ltd.
Vinati Organics Ltd.
Astrazeneca Pharma India Ltd.
Chambal Fertilisers & Chemicals Ltd.
Bajaj Electricals Ltd.
Birlasoft Ltd.
Birla Corporation Ltd.
Caplin Point Laboratories Ltd.
Indostar Capital Finance Ltd.
Inox Leisure Ltd.
ICRA Ltd.
Dish TV India Ltd.
eClerx Services Ltd.
Fairchem Speciality Ltd.
Esab India Ltd.
Privi Speciality Chemicals Ltd.
Jamna Auto Industries Ltd.
Greaves Cotton Ltd.
KSB Ltd.
Minda Corporation Ltd.
Novartis India Ltd.
Matrimony.Com Ltd.
Prataap Snacks Ltd.
RattanIndia Power Ltd.
Cigniti Technologies Ltd.
Apar Industries Ltd.
Godawari Power & Ispat Ltd.
Kirloskar Brothers Ltd.
Somany Ceramics Ltd.
RattanIndia Infrastructure Ltd.
GTL Infrastructure Ltd.
SpencerS Retail Ltd. https://t.me/marketswizard

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*Pre-Market Derivatives and Technical Set-up*

● Nifty index opened negative but managed to hold 11750-11777 zones and headed towards 11929 levels. It remained highly volatile during the day amid counting of US presidential votes but bulls continued their grip for third consecutive session. It made a bullish candle and forming higher lows from last three trading sessions

● Now it has to continue to hold above 11750- 11777 zones to witness an up move towards 12020 then 12200 while on the downside support is seen at 11666 then 11550 zones

● India VIX fell down by 4.29% from 24.24 to 23.20 levels. Volatility needs to further cool down for market stability and factoring the US election results

● On option front, Maximum Put OI is at 11000 followed by 11500 strike while maximum Call OI is at 12000 followed by 12500 strike. We have seen marginal Call writing in 12000 and 12500 strike while Put writing is seen at 11900 then 11600 strike. Option data suggests a wider trading range in between 11600 to 12100 zones

● Bank Nifty opened negative and surpassed its previous day’s high to touch 25900 zones but witnessed some profit booking from higher zones. It formed a Bullish candle with a long lower shadow on daily scale which suggests that bulls are having dominance and declines are being bought. It continues to form higher highs - higher lows from the last three sessions

● Now it has to continue to hold above 25500 zones to witness an up move towards 26000 then 26250 zones while immediate key support seen at 25200 then 25000 zones

● Bullish setup in Indusind Bank, Apollotyre, Divislabs, Cipla, Havells, Voltas, Kotak Bank, Siemens, MRF, Tvsmotor, Bajfinance and Ambujacem

● Bearish setup in Upl, Infratel, PNB and Gail

*Technical & Derivatives Research, Motilal Oswal* https://t.me/marketswizard

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Dividend Update
*Ambuja Cements Ltd. Interim Dividend Rs. 17 Ex Date 05-Nov-2020
*Castrol India Ltd. Interim Dividend Rs. 2.5 Ex Date 05-Nov-2020
*Continental Petroleums Ltd. Stock Split From Rs.10/ to Rs.5/ Ex Date 05-Nov-2020
*ICICI Securities Ltd. Interim Dividend Rs. 8 Ex Date 05-Nov-2020
*Kopran Ltd. Interim Dividend Rs. 1.5 Ex Date 05-Nov-2020
*Marico Ltd. Interim Dividend Rs. 3 Ex Date 05-Nov-2020
*Shankar Lal Rampal Dye-Chem Ltd. Bonus issue 1:3 Ex Date 05-Nov-2020
*Supreme Petrochem Ltd. Interim Dividend Rs. 2.5 Ex Date 05-Nov-2020
*Supreme Industries Ltd. Interim Dividend Rs. 5 Ex Date 05-Nov-2020
*Vaibhav Global Ltd. Interim Dividend Rs. 5 Ex Date 05-Nov-2020
*Cosmo Films Ltd. Buy Back of Shares Ex Date 06-Nov-2020
*LT Foods Ltd. Interim Dividend Rs. 0.5 Ex Date 06-Nov-2020
*Surya Roshni Ltd. Interim Dividend Rs. 1.5 Ex Date 06-Nov-2020 https://t.me/marketswizard

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Bulk Deal & Insider Trade Update
Bulk deal
*Matrimony.Com Limited : Sbi Mutual Fund Buy 500000 Shares @ Rs. 628

*Matrimony.Com Limited : Cmdb Ii Sell 500000 Shares @ Rs. 628

*Vikas Multicorp Limited : Albula Investment Fund Ltd Buy 4000000 Shares @ Rs. 7.65

*Siti Networks Limited : Idbi Trusteeship Services Ltd Sell 15016392 Shares @ Rs. 0.55

*Siti Networks Limited : Bp Equities Private Limited Buy 13800016 Shares @ Rs. 0.55

*Adaniports : Europacific Growth Fund Sell 25759633 Shares @ Rs. 352.01

Insider Trade
Acquisition
*MN Ventures Private Limited Promoter Acquisition 1000000 shares of Hfcl Ltd on 04-Nov-20

*Satish Pai Director Acquisition 65652 shares of Hindalco Industries Ltd. on 13-Oct-20

*Viswanathan Hariharan Kollengode & Jayalekshmy Viswanathan Director Acquisition 4500 shares of Welspun Corp Limited on 02-Nov-20

*SOUMYA CHAVA Promoter Group Acquisition 4400 shares of Laurus Labs Ltd on 02-Nov-20

*CHANDRAKANTH CHEREDDI Promoter Group Acquisition 3500 shares of Laurus Labs Ltd on 03-Nov-20

Disposal
*Gaurang Shah Director Disposal 12000 shares of Kotak Mahindra Bank Ltd. on 02-Nov-20

Pledge
*Shanghvi Finance Private Limited Promoter Group Pledge 2775000 shares of Sun Pharmaceutical Industries Ltd.

Revoke
*Nerka Chemicals Private Limited Promoter Revoke 4100000 shares of Upl Limited on 03-Nov-20

*RAGHUVESH HOLDINGS PRIVATE LIMITED Promoter Group Revoke 3000000 shares of Lt Foods Ltd. on 03-Nov-20 https://t.me/marketswizard

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*SERNET Morning Note*
5th Nov 2020

“NIFTY CROSSES THE 11,900 MARK”

 On Wednesday, the Indian markets bounced back to close above the 11,900 mark even as the Sensex closed decisively above the 40,000 level. The banking and financial stocks drove the rally even as RIL staged a huge comeback in the markets.

 There is a quick rally likely across the global markets as Biden gets closer to the magic 270 mark in the US elections. That is what the markets were anticipating and that puts to rest most of the concerns over the last few days about electoral uncertainty.

 FPIs were net buyers to the tune of Rs.146 crore while DFIs sold Rs.5 crore on Wednesday. The FPI flows could get a better sense of direction as the situation on the US electoral front becomes a lot clearer.

 It was a day of the bulls. The Dow was up 1.5% while the NASDAQ jumped nearly 4% on Wednesday. This trend was seen across Asia and Europe too. Even the SGX Nifty is nearly 2% higher at 12,100 levels in early trade and that promises a gap-up opening.

 As the situation in the US stabilizes, it is time to pick Infosys at Rs.1090 levels for upside targets of Rs.1250 on the stock. With a new government in place, the strategy towards Indian IT is likely to get a lot more sober and liberal.

 The results of Adani Enterprises may have shown a turnaround but the real cream would be the massive investments that the group is planning. Traders can look to buy Adani Enterprises at Rs.350 for upside targets of Rs.450 in 2 months time frame.

 Buy Apollo Tyres, where profits have more than doubled and volumes are now above pre-COVID levels. The stock is a good buy at Rs.145 for upside targets of Rs.185 on the stock in the short to medium term.

As Biden gets close to the 270 mark, it is likely to be a day when global markets are likely to rejoice. At least, there is now the promise of an end to uncertainty. https://t.me/marketswizard

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*Amid U.S. election uncertainty, Fed likely to lay low this week*

With the final result of Tuesday’s presidential election still uncertain, the U.S. central bank’s policy-setting Federal Open Market Committee is expected to stick closely to its last statement and repeat its pledge to do whatever it can to help the economy through the coronavirus-triggered recession.

*The Fed’s latest policy statement, due to be released at 2 p.m. EST (1900 GMT). Fed Chair Jerome Powell is scheduled to hold a news conference at 2:30 p.m. EST.*

Supreme Court adjourns #InterestWaiverCase hearing till November 18

*Cigniti Technologies Ltd.* | *CMP* Rs. 459 | *M Cap* Rs. 1276 Cr | *52 W H/L* 506/175
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 221.2 Cr (1.3% QoQ, 3.1% YoY) vs QoQ Rs. 218.4 Cr, YoY Rs. 214.6 Cr
EBIDTA came at Rs. 44.2 Cr (30.6% QoQ, 19.9% YoY) vs QoQ Rs. 33.8 Cr, YoY Rs. 36.9 Cr
EBITDA Margin came at 20% vs QoQ 15.5%, YoY 17.2%
Adj. PAT came at Rs. 25.2 Cr vs QoQ Rs. 29.1 Cr, YoY Rs. 35.7 Cr
Quarter EPS is Rs. 9.1
Share is trading at P/E of 11.4x TTM EPS

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*Ambika Cotton Mills Ltd.* | *CMP* Rs. 712 | *M Cap* Rs. 406 Cr | *52 W H/L* 948/390
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 145.6 Cr (46.9% QoQ, -9% YoY) vs QoQ Rs. 99.2 Cr, YoY Rs. 160.1 Cr
EBIDTA came at Rs. 25.7 Cr (70.7% QoQ, 8.5% YoY) vs QoQ Rs. 15 Cr, YoY Rs. 23.7 Cr
EBITDA Margin came at 17.6% vs QoQ 15.2%, YoY 14.8%
Adj. PAT came at Rs. 12.9 Cr vs QoQ Rs. 5 Cr, YoY Rs. 11.8 Cr
Quarter EPS is Rs. 22.6
Share is trading at P/E of 9.1x TTM EPS

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BULK DEAL OF 12 LAKHS SHARES IN VBL @ 682 IN NSE
CMP 689 +2

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*Emami Ltd.* | *CMP* Rs. 379 | *M Cap* Rs. 16847 Cr | *52 W H/L* 408/131
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 734.8 Cr (52.7% QoQ, 11.3% YoY) vs expectation of Rs. 683.3 Cr, QoQ Rs. 481.3 Cr, YoY Rs. 660.1 Cr
EBIDTA came at Rs. 257.1 Cr (109.1% QoQ, 33.2% YoY) vs expectation of Rs. 208.6 Cr, QoQ Rs. 123 Cr, YoY Rs. 193 Cr
EBITDA Margin came at 35% vs expectation of 30.5%, QoQ 25.5%, YoY 29.2%
Adj. PAT came at Rs. 118.5 Cr vs expectation of Rs. 143.5 Cr, QoQ Rs. 39.6 Cr, YoY Rs. 96 Cr
Quarter EPS is Rs. 2.7
Share is trading at P/E of 29.5x FY22E EPS

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https://t.me/BooksMakeIndiaRead

*Bajaj Electricals Ltd.* | *CMP* Rs. 507 | *M Cap* Rs. 5775 Cr | *52 W H/L* 545/260
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 1217.7 Cr (100.2% QoQ, 11.1% YoY) vs QoQ Rs. 608.3 Cr, YoY Rs. 1095.7 Cr
EBIDTA came at Rs. 104.8 Cr (-581.8% QoQ, 339.4% YoY) vs QoQ Rs. -21.8 Cr, YoY Rs. 23.9 Cr
EBITDA Margin came at 8.6% vs QoQ -3.6%, YoY 2.2%
Adj. PAT came at Rs. 53.1 Cr vs QoQ Rs. -44.4 Cr, YoY Rs. -32.4 Cr
Quarter EPS is Rs. 4.7
Share is trading at P/E of 29.9x FY22E EPS

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*Caplin Point Laboratories Ltd.* | *CMP* Rs. 497 | *M Cap* Rs. 3757 Cr | *52 W H/L* 686/176
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 268.1 Cr (11.7% QoQ, 18% YoY) vs QoQ Rs. 240.1 Cr, YoY Rs. 227.2 Cr
EBIDTA came at Rs. 87.4 Cr (22.1% QoQ, 22.9% YoY) vs QoQ Rs. 71.6 Cr, YoY Rs. 71.1 Cr
EBITDA Margin came at 32.6% vs QoQ 29.8%, YoY 31.3%
Adj. PAT came at Rs. 62.8 Cr vs QoQ Rs. 54.5 Cr, YoY Rs. 57.3 Cr
Quarter EPS is Rs. 8.3
Share is trading at P/E of 12.7x FY22E EPS

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