News Shots

  • Hong Kong-based hedge fund Sylebra Capital Partners Master Fund has picked up 1.1 percent equity stake in multiplex chain PVR, at Rs 1167.48 per share. Also, PVR is due to announce their Q4 results today
  • Hexaware Technologies joins the delisting bandwagon, planning to delist from the stock market. The stock had hit Upper Circuit on Friday, after the news.
  • Britannia planning to sell 5% of the company to raise Rs 4000 crores, thereby joining many other companies who are trying to raise funds to fuel growth
  • Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, will pump Rs 5,683.5 crore into Jio Platforms. The total tally of investments into Jio Platforms has increased to 8, and the total amount is Rs Rs 97,885.65 crore, for nearly 21% of the company. Thereby, Reliance Industries Limited has become the most valuable (largest market capitalisation) company in the Indian Stock Market.
  • IndusInd Bank promoters plan to acquire additional shares of the bank from the open market, which is a positive sign
  • SBI, in its Q4 results, announced a four-fold profit jumps to Rs 3,581 crore, which exceeded Street estimates
  • HDFC is in talks to raise 1 Billion $ via partial stake sale
  • Q4 Results Update – Vedanta Ltd and Greaves Cotton have announced very poor results. For L&T, though revenue has increased marginally, profit has fallen slightly

What to expect today?

  • US and European markets shot up on Friday after the US Jobs Data Result. Global cues are extremely positive. SGX NIFTY had gone up to 10350, currently at around 10270, indicating a positive gap up opening in the Indian market.
  • So lockdown is being heavily lifted from today in India and this is happening when we are witnessing the largest number of COVID-19 patients being detected every new day. The market has been positive and doesn’t seem to react to this data. 
  • Bulls believe the market and the economy have to move ahead by accepting the reality and this problem can be solved with just a vaccine, which is just around the corner. Bears strongly believe what we are seeing now is just a bull trap and the market can go down seriously anytime soon. Be Cautious!
  • NIFTY has a resistance at 10,200, but will open today breaking that resistance. It is important to see whether NIFTY will cross 10,200 and come down afterwards. There is 100 Days MOving Average at 10,350, which can act as the next resistance. If NIFTY is strongly sustaining above 10,200 today, then 10,000 – 10,500 can be the trading range in the coming few days.
  • NIFTY is likely to trade between 10,100 and 10,300 today. 
  • On Friday, banks stocks and BANK NIFTY shot up heavily after SBI’s highly positive Q4 result. HDFC Bank also reported opening of 2.5 lakh new customers in the last 40 days through an online facility.