Date: 17 April, 2020

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DOMESTIC INDICES

Close Points % Change

SENSEX 30603 223 0.73

NIFTY 8993 68 0.76

MIDCAP 11578 162 1.42

SMALL CAP 10544 177 1.71

SECTORAL INDICES

Close Points % Change

POWER 1482 41 2.85

CG 12044 267 2.27

OIL & GAS 11080 215 1.98

Finance 4376 83 1.94

CD 20222 373 1.88

METAL 6449 112 1.76

Healthcare 14994 236 1.60

BANKEX 22169 313 1.43

AUTO 12306 159 1.31

REALTY 1394 13 0.94

TECK 6376 -111 -1.71

IT 12487 -224 -1.77

BSE 200 GAINERS/LOSERS

GAINERS % LOSERS %

IBULHSGFIN 16.08 ABFRL -4.60

MOTHERSUMI 14.82 DLF -4.42

L&TFH 13.32 SUPREMEIND -4.25

NBCC 10.92 PEL -4.11

OBEROIRLTY 10.27 HCLTECH -3.97

ADVANCE/DECLINES

BSE %

ADVANCES 1602 63

DECLINES 779 31

UNCHANGED 147 6

INSTITUTIONAL ACTIVITY

Rs Cr 16/04/20 15/04/20 Apr Total

FII -2920 1359 -8513(prov.)

MF 1321 -1098 5931(prov.)

China weak data out, now hopes on US economy reopening andpossible breakthrough in cure of Covid-19…

Indian markets could open higher today following strong Asianmarkets today and US indices that rose modestly higher led bytech names on Thursday.

US stocks on Thursday closed modestly higher, led bytechnology-related companies, against a backdrop of grimeconomic news and plans by the government to restart long-dormant economies while preventing a fresh outbreak of thedeadly pandemic. Negative economic reports didn’t stopinvestors from picking up health-care and technology-relatedstocks, which helped to propel the market higher.

US initial jobless claims figures came in at 5.25 million, enoughto push the unemployment rate to at least 15%. More than 22million Americans have lost their jobs in the past month.

US stock futures were up on Thursday night as University ofChicago Medicine researchers said they saw “rapid recoveries”in 125 COVID-19 patients taking Gilead Sciences Inc.’sexperimental drug remdesivir as part of a clinical trial and asPresident Donald Trump late Thursday outlined a three-phaseprocess to restarting the U.S. economy that puts the onus onstates.

Asian stocks rose on Friday with U.S. and European futures amidtentative steps to restart the American economy and progresson the fight against the coronavirus.

China reported that its first quarter GDP contracted by 6.8% in2020 (vs 6.5% contraction as per analyst poll) from a year ago asits economy took a huge hit from the coronavirus outbreak. Thecontraction in the first quarter would also be the first declinesince at least 1992. In the first quarter, retail sales in China fell19% from a year ago while industrial production fell 8.4% in thesame period.

Reserve Bank of India (RBI) Governor Shaktikanta Das willaddress the media at 10 am on April 17. There are hopes ofsome additional measures to alleviate the current issues facedby the businesses and lenders.

Indian markets ended higher on Thursday after two daycorrection. The Nifty gained 67.5 points or 0.76% to close at8,992.8. Gains were led by financials which had come underpressure on Wednesday. India VIX fell 7% to 46.1, the lowest inmore than a month.

Technically, with the Nifty bouncing back, traders will need towatch if the Nifty can now hold above the immediate supportsof 8961-8874; else a further correction is likely that could takethe Nifty towards the 13 day simple moving average support at8554. On upmoves it could face resistance at 9261.

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GLOBAL INDICES

EXCHANGE RATES

Value % Change

USD/INR 76.6 0.20

EURO/USD 1.087 0.31

USD/GBP 1.251 0.41

USD/JPY 107.7 -0.22

COMMODITIES

Value %

Gold ($ / Oz) 1723.3 -0.49

Silver ($ / Oz) 15.6 -0.03

Crude Oil Futures 20.0 0.40

Brent Oil ($ / Barrel) 28.4 2.12

BOND YIELD

Value % Chg bps

IND10 Yr Bond Yield 6.44 +1

ADR

Value $ %

Dr Reddys Labs 50.75 2.86

HDFC Bank 37.70 -2.31

ICICI Bank 8.77 2.45

Tata Motors 4.93 5.12

Wipro 3.06 -0.33

Vedanta Ltd 4.28 5.68

INFOSYS 8.22 -1.32

Close Points % Chg

DOW JONES 23538 33.33 0.14

S & P 500 2800 16.19 0.58

NASDAQ 8532 139.19 1.66

FTSE 5628 30.78 0.55

CAC 4350 -3.56 -0.08

DAX 10302 21.78 0.21

NIKKEI 225 19749 458.30 2.38

SHANGHAI COMP. 2843 23.09 0.82

HANG SENG 24571 564.55 2.35

BOVESPA 77812 -1019.61 -1.29

Short Term Technical OutlookThe positive sequence of higher highs and lows is intact andcurrently, Nifty is in the process of forming higher bottom.

Any further weakness or consolidation from here could confirmhigher bottom formation around 8700 levels (intraday anddaily trend line support). Such higher bottom formation isexpected to be a buy on dips opportunity in the market in thecoming sessions.

Presently, the lower area of 8900 and 8850 is acting as a keysupport and Nifty is currently stuck at the overhead resistanceof 9050-9100 levels. The overall chart pattern indicates apossibility of limited decline and there is a higher possibility of asharp upside bounce from the lower levels in the next 6-7sessions.

TCS Q4 FY20 results key takeawaysTata Consultancy Services (TCS) reported consolidated profit atRs 8,049 crore, registering 0.85 percent decline compared tothe previous quarter.

Profitability was hit by lower other income and higher financecost, but supported by operating growth.

The management of the company highlighted that the COVID-19 had caused disruption to its operations and the pandemichad presented an operational challenge of scale, speed andcomplexity.

Here are the key highlights of the Q4 FY20 :Its consolidated revenue for the quarter increased to Rs 39,946crore, from Rs 39,854 crore in the October-December period2019 and from Rs 38,010 crore in the March quarter of FY19.

The numbers were slightly below street estimates. Profit wasestimated at Rs 8,200cr on revenue of Rs 40,440 crore for thequarter.

Dollar revenue for the quarter at $5,444 million, while constantcurrency revenue growth at 3 percent during the quarter, muchlower compared to 6.8 percent in December quarter and 12.7percent in Q4FY19.

Life sciences lead revenue growth: TCS said its revenue growthwas led by life sciences and healthcare (16.2 percent),communications and media (9.3 percent) and manufacturing (7percent). Revenue of BFSI segment, however, declined 1.3percent.

Market growth was led by Europe: TCS said its market growthwas led by Europe (11.9 percent). The UK market grew by 5.4percent while Latin America grew by 3.9 percent, Asia Pacific by3.5 percent and MEA by 1.3 percent. North America's was flat at0.2 percent while 1ndia's market declined by 1.9 percent. Thetotal contract value of Q4 was US$ 8.9 billion, TCS said.

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Headcounts: The company said it added 1,789 employees during March quarter of FY20. It said it had hired 24,179employees on a net basis in FY20, taking up the total headcount to 4,48,464 as of March 31, 2020.

Board proposed the final dividend of Rs 6 per share. The company said it had returned over Rs 37,702 crore of cash toshareholders in dividends during FY20.

Emami launches Boroplus Advanced Hand SanitizerEmami said that it has launched ‘Boroplus Advanced Hand Sanitizer’. The BoroPlus Advanced Anti-Germ Hand Sanitizer,powered by the natural antiseptic qualities of Neem and Tulsi, has an alcohol base of 70%.

Mahindra & Mahindra completes stake sale of subsidiary for Rs124crMahindra & Mahindra (M&M) has announced the completion of stake sale of its wholly-owned subsidiary MahindraRenewables Private Limited (“MRPL”) to the tune of over Rs124cr.

In a filing to exchanges, Mahindra stated that, MRPL has today, completed the above transaction & accordingly theshareholding of MRPL in DSPL has become ‘Nil’ and DSPL has ceased to be a subsidiary of MRPL and of the Companywith effect from 15th April, 2020

Mahindra agreed to sell 100% stake of MRPL to DSPL in February 2020.

The agreement between the parties involved stake sale of 1,20,80,000 equity shares of Rs. 10 each held by MRPL inDivine Solren Private Limited (“DSPL”) aggregating to 100% of the paid-up Equity Share Capital of DSPL to CLP IndiaPrivate Limited, for a consideration of Rs124.47cr.

Oberoi Reality: The company said it has prepaid Rs 125 crore debt with interest amount before the due date.

Concor: Blackstone, Warburg Pincus and India’s sovereign fund NIIF have joined the race to buy 30% stake in ContainerCorporation of India (Concor). Strategic investors including Adani Ports & SEZ and PSA International were already in thefray.

Tata Motors: Citing severe free cash flow issues, international rating agency Fitch has downgraded the ratings of TataMotors to 'B' and also revised down the outlook on the company that owns the marquee British brands JLR to negativefrom stable.

Airtel, Vodafone Idea: Telecom operators, including Reliance Jio, Bharti Airtel and Vodafone Idea, have approachedsector regulator Trai seeking time till April 20 to submit data on recharge pattern of prepaid users amid the lockdown.

Important Global news/developments to influence markets Japan’s Reuters Tankan Index (Apr) decreased from -20 to -30.

Foreign Investments in Japanese Stocks decreased from 324.2B to -15.5B.

UK’s Retail sales in March have dropped to their lowest decline on record as the coronavirus pandemic took its tollon the sector across the UK. The year-on-year total sales decline of 4.3 per cent in March was the worst everrecorded by the BRC-KPMG monthly survey.

German CPI (MoM) (Mar) decreased from 0.4% to 0.1%, while (YoY) (Mar) decreased from 1.7% to 1.4%.

German WPI (MoM) (Mar) increased from -0.9% to -0.4%, while (YoY) (Mar) decreased from -0.9% to -1.5%.

The IFO business climate index, a measure of sentiment among German managers, tumbled to 86.1 points in Marchfrom 96.0 points in February, falling to its lowest levels since August 2009.

Eurozone industrial production dropped -0.1% mom in February, the month before coronavirus pandemic measuresbegan. Production of durable consumer goods fell by -2.0% mom and capital goods by -1.5% mom, while productionof both intermediate goods and non-durable consumer goods rose by 0.4% mom and energy by 0.7% mom.

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OPEC expects global oil demand to drop by 6.8 million barrels per day in 2020.

U.S. home-building activity collapsed in March as the coronavirus spread, with housing starts tumbling 22.3% from amonth ago.

US Initial claims for state unemployment benefits dropped 1.370 million to a seasonally adjusted 5.245 million forthe week ended April 11.

The Philadelphia Federal Reserve manufacturing index of US has seen the lowest reading since July 1980, falling from-12.5 in March to -55.6 in April.

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DATA & EVENTS

OPEN TRADING CALLS

NOTE: ALL TRADING RECOMMENDATIONS GIVEN BY TEAM ARE ON REAL TIME BASIS. A TRADING RECOMMENDATIONSHOULD BE CONSIDERED CLOSED OR SQUARED OFF AS AND WHEN A STOPLOSS OR TARGET IS TOUCHED IN INTRADAYTRADING. DO NOT WAIT FOR TARGET ACHIEVED OR STOPLOSS MESSAGE TO CLOSE THE POSITIONS. REFER JAMMOON FORTIMELY ENTRY AND EXIT FROM RECOMMENDATIONS.

No. Reco Date Company Name Reco Cost SL Target

1 15-APR-20 RELIANCE APR 1160 PUT OPTION BUY 62 48 90

2 15-APR-20 PAGE INDS APR FUT BUY 17070-16600 16499 17620

3 15-APR-20 INDIA CEMENT BUY 111-107 105 117.5

4 16-APR-20 PFC APR FUT BUY 89.50-87.50 87 92.5

5 16-APR-20 BANKNIFTY APR FUT BUY 19390-19250 19120 19780

No. Reco Date Company Name Reco Cost SL Target

1 13-APR-20 PFIZER LTD BUY 4406-4000 3860 5066/5490

2 13-APR-20GLAXO PHARMA (PARTIALLY

BOOKED)BUY 1300-1396 1250 1590/1730

3 15-APR-20 MINDTREE LTD BUY 740-780 725 860

OPEN TECHNICAL POSITIONAL CALLS

OPEN DERIVATIVE POSITIONAL CALLS

No. Reco Date Company Name Reco Cost SL Target

1 09-APR-20 EICHER MOTORS FUT BUY 13220-13925 13100 14750/15500

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DATA & EVENTS

RESULTS ANNOUNCED AFTER MARKET HOURS

COMPANY Q4FY20 YoY (%) QoQ (%) Remarks

Sales (Rs Cr)

NP (Rs Cr)

Sales NP Sales NP

Tata Consultancy Services Ltd 39946 8093 5 -1 0 -1Below

Estimates

PL: Profit to Loss, LP: Loss to Profit, LL: Loss to Loss

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