Rahul Gupta, Head Of Research-Currency, Emkay Global Financial Services

The USDINR spot is trading within the range of 72.65-73.15. Global markets sentiments are optimistic with world stocks hovering just near records highs on hopes that a $1.9 trillion covid-19 aid package will be passed by US policymakers as soon as this month just as coronavirus vaccines are being rolled out globally. However, renewed geopolitical tensions between US-China led investor’s enthusiasm to calm a bit. Good risk appetite coupled with inflows into local stocks will help Indian Rupee to appreciate, but likely RBI intervention at around 75.70-72.60 zone may limit the fall in USDINR pair.

We expect USDINR Spot to trade sideways with negative with 72.65/72.50 being key support zone below which next support is at 72.30. On the upside, 73.0-73.15-73.25 will act as the crucial resistance levels.

Feb 12, 2021 3:57 PM

Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

The markets continued their lackluster move throughout the day. This was characterized by less than average volumes on the Nifty futures contract as well. The target of 15,500 is still open and traders can accumulate positions for this target with a strict stop below the 14,500 mark which is good support for the index. Since the risk-reward ratio is skewed, a buy on intraday corrections would be a prudent way to enter long positions.

Feb 12, 2021 3:42 PM

Market This Week

- Sensex, Nifty & Nifty Bank Gain Over 1% Each; Midcap Index Up Over 2%

- Nifty IT & Realty Top Gaining Indices This week, Up 3% Each

- Hindalco, Adani Ports, RIL, Bajaj Finserv, ICICI Bank Top Nifty Gainers

- ITC, IOC, Eicher, Coal India, NTPC, Britannia Top Nifty Loers

- Magma Fin, Route Mobile, Manali Petro, Motherson Top Midcap Gainers

Feb 12, 2021 3:40 PM

Market At Close

- Sensex & Nifty Close Flat While Nifty Bank Gains 1%

- Nifty Falls 10 Points To 15,163 While Sensex Gains 13 Pts To 51,544

- Midcap Index Fails To Hold Record High, Closes 54 Pts Lower At 22,914

- Nifty Bank Rises 357 Pts To 36,109, Led By HDFC Bank & ICICI Bank

- ITC Top Nifty Loser Despite Reporting In-line Earnings For Q3

- Sun Pharma Sees Profit Booking After SEBI Settlement, Stock Down 2%

- Adani Ports, ICICI, Axis Bank, Infosys & Wipro Top Nifty Gainers

- HDFC Surges To Record High With Market Cap Crossing `5 Lakh Cr

- Motherson Sumi Rallies 11% On Better-than-expected Earnings

- Rpts Of Railway Min’s Nod For Land Lease Policy Boosts CONCOR, Stock Up 10%

- IRCTC Up 7% On Reports Of Railways Starting Regular Trains FROM April 1

- Market Breadth Favours Declines; Advance-Decline Ratio At 3:4

Feb 12, 2021 3:40 PM

Closing Bell | The Indian indices ended flat on Friday after rising in early deals as FMCG, energy, pharma and metal stocks declined. However, a rise in IT and financial stocks capped the fall. The Sensex ended points, or 0.02 percent higher at 51,544.30; while the Nifty settled at 15,163.30, down 10.00 points, or 0.07 percent. Broader markets ended mixed.

Among sectors, Nifty Metal, Nifty FMCG, Nifty Pharma, Nifty Media and Nifty Auto declined, while Nifty Bank, Nifty Financial Services and Nifty IT ended in the green. On the Nifty50, Adani Ports & SEZ, ICICI Bank, Axis Bank, Infosys and Wipro were the top gainers, while ITC, GAIL India, Sun Pharmaceutical Industries, ONGC and Coal India were the top losers.

Feb 12, 2021 3:38 PM

Market Watch: Prakash Diwan, Market Expert

Motherson Sumi

The only caveat is that it’s now getting priced to perfection in terms of whatever expectations have built in. So if there is any slowdown especially in Europe, you will have to watch out for and I hope they do not make any acquisition anymore which starts kicking the can down the road but they work on what they have and get those efficiencies to be much more deeply entrenched. So, very positive. You will have to give another four quarters for the next round of rerating.

ITC

The FMCG business is still a bit shaky even now. I think the way they have successfully turned around some of the sub-brands like Savlon, Yippee and Aashirvaad, if they were to do that to the other parts of the businesses – I think there is a rerating that is definitely more secular and more long-lasting that could happen. So I am very positive on it but you will have to have some patience and do not get carried away by the noise around this stock which is too much especially on social media.

Feb 12, 2021 3:22 PM

Feb 12, 2021 3:18 PM

Buzzing | Container Corporation of India (CONCOR) shares hit upper circuit on reports of Railway Ministry approving Land Lease Policy.

Feb 12, 2021 3:14 PM

Seeing a V-shaped recovery, says Endurance Tech

Endurance Technology reported a good set of numbers in its third quarter earnings. Talking about the earnings, Ramesh Gehaney, ED and COO at Endurance Technologies said the company is looking at a V-shaped recovery.

"The industry has made a very good come back. The sentiment is up, the energy levels increased by doing more and more," Gehaney said in an interview with CNBC-TV18.

He further said that the firm made 1.9 million vehicles in November and approximately 1.4 million vehicles in December despite being an inventory correction period for OEMs.

Gehaney added that the firm has received orders from Kia Motors and Tata Motors and that the two-wheeler and passenger vehicle segments are doing well. Watch here.

Feb 12, 2021 3:12 PM

Feb 12, 2021 3:06 PM

HDFC Securities on ITC

Urban growth continued to lag rural for cigarettes, although the product mix improved. Increased mobility of consumers and a gradual return to offices will support recovery in cigarettes over the next few months. FMCG continues to shine as new launches and the essentials portfolio maintained its momentum, and ITC continued to capitalise on the high demand for health, hygiene and packaged food products. OOH and discretionary categories are expected to continue the strong growth witnessed in 3QFY21.

We remain optimistic about the company’s ability to deliver healthy earnings growth and maintain our EPS estimates for FY22/FY23. We value ITC on SoTP to derive a target price of Rs 245. Maintain BUY.

Feb 12, 2021 2:56 PM

Nesco Q3FY21 | The company’s net profit declined 29.2 percent to Rs 48.9 crore from Rs 69.1 crore, while revenue fell 28.3 percent to Rs 82.5 crore from Rs 115.1 crore, YoY. EBITDA decreased 31.6 percent to Rs 52.8 crore from Rs 77.3 crore and EBITDA margin narrowed by 300 bps to 64.1 percent from 67.1 percent, YoY.

Feb 12, 2021 2:53 PM

CLSA reiterates buy rating on Axis Bank; expects further re-rating of 40-70%

CLSA has a buy rating on Axis Bank with a target price of Rs 1,000. However, they believe that there is a potential for further re-rating of 40-70% and that the bank can deliver 16% plus return on equity (RoE). Axis Bank CEO in a call with investors reiterated that earnings were a lot more granular hereon. The banks approach of creating a niche is likely to deliver going forward. Watch here.

Feb 12, 2021 2:45 PM

Commodities Trade: All you need to know about the volatile crude market

The oil and gas industry is one of the largest sectors in the world in terms of dollar value. In the special segment ‘Commodities Trade’, CNBC-TV18’s Manisha Gupta gets all the details on crude oil…

Feb 12, 2021 2:30 PM

Feb 12, 2021 2:21 PM

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