Today’s Headlines :
Economic Times
📝 ATC logs $322 mn India goodwill impairment charge for 2023
📝 Core inflation to stay around 3% till Q1 FY25: Economists
📝 Centre eyes 10x expansion in domestically flagged Ships
📝 MP industry conclave attracts investment proposals worth Rs 1 lakh crore
📝 Foxconn, Samsung, 3 others to get Rs 4,400+ cr under PLI scheme
📝 Edelweiss Alternatives set to buy IT park in Bengaluru for over Rs 1,475 crore
📝 FPIs reverse trend; infuse Rs 1,500 crore into Indian equities in February
📝 LIC Housing Finance plans to raise funds via green bonds in next financial year
📝 Punjab’s GST mop-up rises 16 pc to over Rs 19,000 crore till February
📝 Saudi extends voluntary oil cut of 1 mn barrels per day until mid-2024
📝 ARCIL buys Saraswat’s NPAs at 86% haircut
📝 GMR Highways raises Rs 700 cr debt to prepay Yes Bank
📝 SJVN Green Energy bags 200 MW solar project
📝 Rooftop solar installations rise 6.25 pc to 1.7 GW in 2023: Mercom
Business Standard
📝 Govt to meet Google, startup executives over app issue on Monday
📝 Flipkart unveils its UPI handle to boost India’s digital evolution
📝 Europe’s higher defence expenditure may hit exports
📝 EAM S Jaishankar’s Japan, Korea visits to focus on semiconductor push
📝 National pension system added 21.5% fewer corporate subscribers in 2023
📝 PM Narendra Modi flags off first crude oil tanker from ONGC’s KG project
📝 Rising interest rates prompting more people to go in for term deposits
📝 50% of companies review their BCDR strategy only once in 3 years: Report
📝 Car leasing player Avyens eyes 8-10 per cent fleet growth in 2024
📝 India Inc pushes capital expenditure as capacity utilisation nears 75%
📝 Nearly 66% greenfield units under PLI scheme for bulk drugs completed
Financial Express
📝 Five CIL mines to be converted into pump-storage power projects
📝 India to be on high-stake global stage of chip makers in 5 years: IT Minister Vaishnaw
📝 Godrej & Boyce to increase focus on smaller cities, invest Rs 40 crore in 3 years on distribution
📝 India-UAE non-oil trade target of USD 100 billion by 2030 ambitious, but achievable: CII President
📝 Food’s weight in inflation index to drop 5 pps with latest consumption survey
📝 Agri trade via e-NAM set to cross Rs 80,000 crore in FY24
Mint
📝 Sony renews exclusive media rights deal with UEFA for 3 years
📝 Centre plans to leverage MCC period to prepare over 10,000 km highway contract
📝 IG Drones eyes aggressive defence foray
📝 Centre rejigs plan for sale of Bharat rice and wheat
📝 Vedanta Resources to deleverage debt by $3 billion over three years
📝 PM Modi to inaugurate first under-river tunnel of Kolkata Metro on 6 Mar.
🟢 PRE-MARKET ANALYSIS (04/03/2024)
INDEX ACTION
Nifty:
Max Open Interest:
Calls: 23000
Puts: 22000
PCR: 1.22
Daily Expected Range (Accuracy 75%*):
22,087 – 22,669
Daily Pivot Support: 22,140- 21,941
Daily Pivot Resistance: 22,445 – 22,552
Weekly Pivot Support: 22,015 – 21,692
Weekly Pivot Resistance: 22,508 – 22,677
Bank Nifty:
Max Open Interest:
Calls: 48000
Puts: 46500
PCR: 1.39
Daily Expected Range (Accuracy 75%*):
46,470 – 48,126
Daily Pivot Support: 46,556 – 45,825
Daily Pivot Resistance: 47,680 – 48,073
Weekly Pivot Support: 46,185 – 45,083
Weekly Pivot Resistance: 47,865 – 48,444
GLOBAL MARKETS
US market closing
Dow Jones: 🟢0.23%
Nasdaq: 🟢1.14%
S&P 500: 🟢0.80%
European markets closing
Euro Stoxx 50: 🟢0.33%
Britain’s FTSE: 🟢0.69%
Germany’s DAX: 🔴0.00%
France’s CAC: 🟢0.09%
The Australian stock market is currently
trading with a loss of 0.01%
Asian markets live (noted at 7.00 am)
Japan’s Nikkei : 🟢0.83%
Korea’s KOSPI: 🟢1.14%
China’s SSE: 🟢0.14%
Hong Kong’s Hang Seng: 🟢0.11%
STOCK ACTION:
Long Build Up
HAVELLS, NATIONALUM, SAIL, IEX,
AUROPHARMA
Short Build Up
NAUKRI, CANFINHOME, RAMCOCEM,
METROPOLIS, HDFCAMC
__
Cash and FnO Activity
GIFT Nifty +8 pts (22515) from last trade
22507 ,
Nikkei +333 pts ,
Hangseng +40 pts ,
Now @6.55am .
Crude @ $79.98 brl (+0.01), Brent @
$83.62 brl (+0.07) , Gold @ 2094.90
(-0.80), Silver $23.37 (+0.00), Euro @
$1.0841, JPY @ $150.11, INR @ 82.845
Today’s Corporate Action
4th Mar Ex Date
JYOTISTRUC
E.G.M.
STEELXIND
E.G.M.
TIGERLOGS
Stock Split From Rs.10/- to Rs.1/-
Today’s Key Results/Board Meetings
04-Mar-24
ALFAVIO
General
CITL
Preferential Issue of shares;General
DRA
General
GMPL
Increase in Authorised Capital;General
IGCIL
General
NVENTURES
General
PARKHOTELS
Quarterly Results
POWERGRID
General
RITCO
Preferential Issue of shares
ROJL
General
SPANDANA
General
SUPRAPFSL
General
WEL
Interim Dividend;General
Stock under F&O ban on NSE
04-Mar-24
1 ZEEL
Fund Houses Recommendations
CLSA on Sula Vineyards: Maintain Buy on Company, target price at Rs 826/sh (Positive)
CLSA on Titan: Maintain Buy on Company, target price at Rs 4354/sh (Positive)
CLSA on Zomato: Maintain Buy on Company, target price at Rs 227/sh (Positive)
ICICI on Gulf Oil: Initiate Buy on Company, target price at Rs 1250/sh (Positive)
Equirus on Fedbank Financial: Initiate Buy on Company, target price at Rs 160/sh (Positive)
Emkay on Chalet Hotels: Maintain Buy on Company, raise target price at Rs 900/sh (Positive)
Citi on Indus Towers: Maintain Buy on Company, target price at Rs 320/sh (Positive)
Citi on Bharti Airtel: Maintain Buy on Company, target price at Rs 1305/sh (Positive)
MS on Larsen: Maintain Overweight on Company, target price at Rs 4106/sh (Positive)
MS on Apollo Hospitals: Maintain Overweight on Company, target price at Rs 7181/sh (Positive)
Kotak on Dalmia Bharat: Maintain Add on Company, target price at Rs 2320/sh (Positive)
CLSA on Eicher Motors: Maintain Underperform on Company, target price at Rs 3955/sh (Neutral)
CLSA on M&M: Downgrade to Outperform on Company, raise target price at Rs 2115/sh (Neutral)
CLSA on Tata Motors: Downgrade to Outperform on Company, raise target price at Rs 1074/sh (Neutral)
CLSA on HUL: Maintain Underperform on Company, target price at Rs 2595/sh (Neutral)
CLSA on DLF: Maintain Sell on Company, target price at Rs 750/sh (Neutral)
CLSA on Macrotech: Maintain Sell on Company, target price at Rs 705/sh (Neutral)
CLSA on Oberoi Real: Maintain Sell on Company, target price at Rs 1200/sh (Neutral)
Citi on Star Health: Maintain Sell on Company, target price at Rs 560/sh (Neutral)
MS on HAL: Maintain Overweight on Company, target price at Rs 3129/sh (Neutral)
MS on GujGas: Maintain Overweight on Company, target price at Rs 579/sh (Neutral)
HSBC on HDFC Bank: Maintain Buy on Company, target price at Rs 1750/sh (Neutral)
CLSA on Jindal Steel: Maintain Underperform on Company, hike target price at Rs 840/sh from Rs 820/Sh (Neutral)
CLSA on Tata Steel: Downgrade to Sell on Company, cut target price at Rs 135/sh from Rs 145/Sh (Negative)
CLSA on JSW Steel: Downgrade to Sell on Company, cut target price at Rs 730/sh from Rs 810/Sh (Negative)
Investor’s Eye Visit us at
www.sharekhan.com For Private
Circulation only March 01, 2024
DLF – Click to Know More…
Sharekhan View Point- 3R Recommendation
DLF Ltd
Well positioned to cash in NCR demand
Rating:BUY
(CMP: 910, Upside Potential: 20-22%)
Company Description
DLF is India’s leading real estate developer with over seven decades of track record. DLF has developed 153 real estate
projects and an area of approximately 330msf. DLF Group has 215msf (approximately) of development potential across
the residential and commercial segments. The group has an annuity portfolio of over 40msf (approximately). DLF is
primarily engaged in the business of development and sale of residential properties (the Development Business) and
the development and leasing of commercial and retail properties (the Annuity Business).
Key Investment Arguments
The NCR residential market continued to witness significant traction in new unit launches and sales,
which have grown 18% y-o-y and 10% y-o-y, respectively, during Q4CY2023.
The NCR region’s available inventory fell below 1 lakh units for the first time, to 17 months of
INDEX OPTION: BUY NIFTY 07MAR2024 CE 22350 CMP 158.65 TARGET- 189/224 SL- 128
INDEX OPTION: BUY BANKNIFTY 06MAR2024 CE 47300 CMP 349.55 TARGET- 399/469 SL- 299
HERO ZERO INDEX OPTION BUY 4 MAR 2024 MIDCP NIFTY 10950 CE AT 15 TGT 30-45 SL-0.95
CTFT BUY COLPAL AT 2578 TGT 2610-2640 SL-2550
Commodity & Currency – Report Based calls Webinar
Date – 04-03-2024 Monday
Time- 4.30 pm
Platform – Webexx