All You Need To Know Going Into Trade On March 19
Asian equities have opened lower on the final trading day of the week, as U.S. stocks fell overnight, oil prices fell too and treasury yields continued to rise.
Benchmark indices opened lower in Japan, South Korea and Australia. The 10-year treasury yields rose to 1.75% - the first time since January 2020.
Oil prices fell 7% overnight due to concerns that new coronavirus-related curbs in Europe will sap demand.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.6% to 14,507, as of 7:10 a.m.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Let’s take a look at the factors that may influence equities in today’s session:
- Futures on the Dow Jones are trading 80 points higher. The index fell 0.5% on Thursday. The Nasdaq fell 3.1% - erasing all of its gains in 2021 while the S&P 500 fell 1.5%.
- France announced a lockdown of regions including Paris to fight the pandemic, as the region struggles to roll out vaccines.
- “Economic recovery is on its way and we have central banks around the world very committed to easy montary policy,” said Jun Bei Liu, portfolio manager at Tribeca Investment Partners, who sees value stocks benefiting in the recovery. “All of that together will indicate this is just short-term profit-taking and the underlying fundamentals of the equity market are looking very strong.”
- Yield on the 10-year treasuries stood at 1.72%
- West Texas Intermediate crude recovered losses to trade at $60 per barrel.
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Stocks To Watch
- Reliance Industries: The Delhi High Court has upheld the Emergency Arbitrator’s award that Amazon.com Inc had won against Future Retail. A single judge bench has imposed a Rs 20 lakh penalty on Future Group entities. The court has issued notice to Kishore Biyani and others and have asked them to be present in the court for the next date of hearing on April 28.
- I.T. Stocks: Accenture's second quarter revenue beats estimates due to double-digit growth in its outsourcing business. The company has also revised its revenue growth guidance higher to 6.5-8.5% from 4-6% earlier.
- GAIL (India): Has signed a concession agreement with Ranchi Municipal Corporation for setting up Compressed Biogas Plant in Ranchi. As per the agreement, the company will setup CBG plant for processing 150 tons per day of Organic Municipal Solid Waste.
- GOCL Corporation: Board has approved fund raising of up to Rs 250 crore by way of private placement of Unsecured NCDs to be issued in one or more tranches.
- Shriram Transport Finance: Board to meet on March 25 to consider second interim dividend for FY21. The record date for the same, if declared will be March 31.
- Indo Count Industries: Board has approved expansion and modernisation projects of existing capacities with capex of Rs 200 crore. The board has approved expansion of bed linen capacity by 20% from its existing annual capacity of 90 Million meters to 108 Million meters. Further, the company has proposed to make a brownfield investment of Rs 150 crore for adding commensurate cut & sew facilities and for enhancing the capacity for Top of the Bed products. The existing spinning unit will also be modernised with compact spinning technology at the cost of Rs 50 crore. The capex plan will be funded through a mixture of debt and internal accruals.
- Vaibhav Global: The Shop TJC, U.K., a step-down subsidiary of the company has acquired Shop LC GmbH, Germany (a 100% subsidiary of the company) for €25,000.
- Zuari Agro Chemicals: The NPK B Plant of the company has been shut down due to delay in the arrival of raw materials.
- Zensar Technologies: The board has approved merger of company's U.S.-based step-down subsidiaries--Keystone Logic, Professional Access, Cynosure and Indigo Slate with Zensar Technologies Inc., USA - a material, wholly-owned subsidiary of the company.
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Pledge Share Details
- JSW Energy: Promoter Siddheshwari Tradex revoked pledge of 72 lakh shares on March 17.
- Jindal Steel & Power: Promoters OPJ Trading and Siddeshwari Tradex revoked pledge of 39.13 lakh shares between March 12-17.
- Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 20,000 shares between March 16-17.
As reported on March 18.
- ICRA: PPFAS Mutual Fund bought 2.01 lakh shares (2.09%) at Rs 2,780.04 per share.
- Nava Bharat Ventures: The company bought 13.66 lakh shares (0.78%) at Rs 69.98 per share.
Who's Meeting Whom
- Centum Electronics: To meet SBI Mutual Fund on March 19.
- Mahindra Logistics: To meet Temasek on March 19.
- Tata Steel: To meet Investec Capital Service and Neuberger Berman on March 22. To meet Credit Suisse on March 23, Aditya Birla Mutual Fund on March 25, Motilal Oswal Securities on March 26 and Morgan Stanley on March 30.
- Ex-Date Final Dividend: Ambuja Cements
- Ex-Date Interim Dividend: Power Finance Corporation
- Record Date Interim Dividend: REC, ICICI Lombard General Insurance Company, IIFL Securities, Engineers India
- Record Date Stock Split: Dixon Technologies (India)
- Record Date Bonus: Astral Poly Technik
- Move Out Of Short-Term ASM Framework: Affle (India), Anant Raj Global
- Move Into ASM Framework: Dalmia Bharat, Vishwaraj Sugar Industries
- Godrej Industries: Promoter Arel Enterprises LLP bought 2.54 lakh shares between March 12-15.
- Nilkamal: Promoters Hiten Parekh, Manish Parekh and Nayan Parekh bought 13,054 shares on March 16.
- Aarti Industries: Promoters Bhavesh Mehta, Nehal Garewal, Shreya Suneja and Jaya Gogri sold 34,734 shares on March 17.
- Minda Industries: Promoters Amit Minda and Anand Minda sold 15,000 shares on March 17.
- JSW Energy: Promoter Seema jajodia sold 4.47 lakh shares on March 16.
- Godrej Agrovet: Promoter Godrej Industries bought 24,352 shares on March 15.
As reported on March 18.
Money Market Update
- The rupee ended at 72.51 against the U.S. Dollar on Thursday as compared to Wednesday's close of 72.54.
- Nifty March futures ended at 14,604; premium of 47 points
- Nifty March futures shed 3.5% and 4,606 shares in Open Interest
- Nifty Bank March futures ended at 33,959; premium of 103 points
- Nifty Bank March futures add 7.3% and 4,119 shares in Open Interest
- Nifty Put-Call Ratio at 0.83
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