19 March 2020
|Stocks in the News & Views|
Yes Bank (Rs 61.6): The Reserve Bank of India (RBI) on Wednesday withdrew its moratorium imposed on the private lender on 5 March, allowing restoration of all banking operations. This came after a consortium of eight public and private banks, led by State Bank of India, agreed to infuse capital into Yes Bank Ltd to rescue it.
JSW Steel (Rs 163.1): said ratings agency CARE has revised its rating for the company’s long-term bank facilities and non-convertible debentures (NCDs) to CARE AA- from CARE AA. The outlook has been revised to negative from stable. The agency retained the rating for short-term bank facilities and commercial paper to CARE A1+.
Ashok Leyland (Rs 64.3): said its board has approved acquiring up to 19% additional equity shares of Hinduja Leyland Finance Ltd from existing shareholders, in tranches. The transaction is valued at Rs 12bn and is subject to regulatory clearances.
Bajaj Finserv (Rs 6314.9): said its board has approved the appointment of managing director and chief executive officer (CEO) Sanjiv Bajaj as the chairman of the company. Bajaj took charge as the chairman of the company from 17 March 2020.
PVR (Rs 1179.9): said its revenues may get impacted as cinema halls have been shut till 31 March, as per the orders of various state governments, to contain the spread of coronavirus. Separately, ratings agency ICRA Ltd retained the company’s rating for NCDs at ICRA AA- with a positive outlook.
|Corporate Diary for the day|
|Nifty Top Gainers|
|Rs / $||74.8|
|Rs / Euro||81.5|
|Rs / Pound||86.0|
|$ / Yen||109.2|
|Open Interest - % Increase|
|Open Interest - % Decrease|
|Bulk Deals (Inst / MFs)|
|Nifty Top Losers|
|Market Turnover (Rs Bn)|
|Mar 18||30 Day Avg|
|Crude Brent ($/bl)||25.14||+0.26|
|FII Activity (Derivatives) (Rs bn) 18 Mar|
|FII Activity (Equity) (Rs Mn)|
|MF Activity (Equity) (Rs Mn)|
Disclaimer: this document is based on information obtained from sources believed to be reliable. We do not make any representation or warranty as to its accuracy, completeness or correctness. Opinions & theories expressed are based on present circumstances & judgment and are subject to change without notice. Quantum Securities Pvt. ltd. accepts no liability whatsoever for any direct or consequential loss arising from any use of this document or further communication given in relation to this document. Quantum Securities Pvt. ltd. and its associates, directors, and/or employees may have positions in, and may effect transactions in securities mentioned herein and may also perform or seek to perform broking, investment banking and other banking services for these companies.
-If mean annualized returns are greater than 20% over twelve to eighteen months then the stock is rated as BUY.
-If mean annualized returns are between a range of 15-20% over twelve to eighteen months then the stock is rated as Out-performer.
-If mean annualized returns are lower than -20% over twelve to eighteen months then the stock is rated as SELL.
-If mean annualized returns are between a range of -15% to -20% over twelve to eighteen months then the stock is rated as Under-performer.
-Mean annualized returns between +/- 15% range moves with the market momentum and is rated Market-performer. However, within this zone we may choose to give a Out-performer, Under-performer or Marketperformer.