A broker speaks on a fixed line telephone as he monitors financial data on computer screens on the trading floor at ETX Capital, a broker of contracts-for-difference, in London, U.K. (Photographer: Jason Alden/Bloomberg)
Live: Nifty Futures Suggests Stock Losses; Kotak Mahindra Bank, Kaveri Seed, ONGC In Focus
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Your Complete F&O Trade Setup
F&O Cues
- Nifty February futures closed trading at 10804, premium of 14 points.
- Max open interest for Feb. 28 series at 11,000 Call (open interest at 41.1 lakh shares).
- Max open interest for Feb. 28 series at 10,700 Put, (open interest at 35.3 lakh shares).
Stocks In F&O Ban
In Ban
- Adani Enterprises
- IDBI
- Jet Airways
- Kaveri Seed
- Reliance Capital
- Reliance Power
- PC Jeweller
- Reliance Infrastructure
New in Ban
- Adani Power
- Allahabad Bank
Put-Call Ratio
- Nifty PCR at 1.38 versus 1.3.
- Bank Nifty PCR at 1.18 versus 1.26.
Brokerage Radar: UBS, IIFL Initiate Coverage On Life Insurance Companies
Citi on BHEL
- Maintained ‘Neutral’; cut price target to Rs 70 from Rs 84.
- Revise our EPS estimates downwards by 8-13 percent over FY19E-21.
- Cut target multiple to 18 times from 20 times on sectoral derating.
Macquarie On Mahanagar Gas
- Initiated Neutral with a price target of Rs 800.
- Expect earnings to compound at 9 percent over the next five years.
- Moderate volume growth but premium margins likely to sustain.
- Prefer IGL as more constructive on the outlook for city gas in NCR.
On Life Insurance Companies
UBS
- HDFC Life: Initiated ‘Neutral’ with a price target of Rs 390.
- ICICI Prudential Life: Initiated ‘Buy’ with a price target of Rs 400.
- Max Financial Services: Initiated ‘Neutral’ with a price target o Rs 425.
- SBI Life: Initiated ‘Buy’ with a price target of Rs 740.
IIFL
- HDFC Life: Initiated ‘Add’ with a price target of Rs 400.
- ICICI Prudential Life: Initiated ‘Buy’ with a price target of Rs 380.
- SBI Life: Initiated ‘Buy’ with a price target of Rs 760.
Trading Tweaks: Monte Carlo
- Monte Carlo Fashions record date for share buyback.
Bulk Deals: Kotak Mahindra Bank, Hinduja Global Solutions
- Hinduja Global Solutions: Fidelity Funds acquired 2.8 lakh shares or 1.33 percent equity at Rs 591 each.
Stocks To Watch: Bharat Electronics, Kaveri Seed, ONGC, Oil India
- Gabriel India’s Chief Financial Officer Rajendran Arunachalam resigned with effect from March 8.
- Bharat Electronics signed a teaming agreement with Hughes India to provide satellite communication solutions for helicopter. The company also stated it has signed MoU with JSR Dynamics for manufacture and sale of Glide Weapons and Light Weight Cruise Missiles.
- BEML signed a ‘Certificate of Partnership’ with Lockheed Martin Aeronautics to explore global and domestics opportunities.
- Kaveri Seed clarified that the government of Andhra Pradesh had suspended the licenses of 14 Seed Companies including the Kaveri Seed Company on Jan. 28 . The Company said that filed the reply within the time period and the said suspension will have no impact on the budgeted sales of the company.
- India plans to auction 66 small oil and gas fields of Oil & Natural Gas Corporation Ltd. and Oil India Ltd. as it tries to step up production to reduce the import bill of the world’s third-biggest consumer of fossil fuel.
- Dyanamatic Technologies signed an MoU with SAAB Technologies to explore future joint opportunities in commercial and defense related work.
- AU Small Finance Bank entered into an agreement with ACKO General Insurance to act as a corporate agent for insurance products.
- HDFC updated its existing medium-term note program up to $2.8 billion in order to enable the company to issue foreign currency bonds in the international capital markets subject to regulatory approvals.
Media Reports
- Adanis in race to buy 23.5 percent in Mumbai Airport (Economic Times)