MarketBuzz
1210: Marketbuzz Podcast With Hormaz Fatakia: The 10 Key Talking Points
Good morning and welcome to the Market's Pass podcast with me, Hormis Patakya. Now we are back after a three-day holiday which almost felt like it just flew past but then that's how holidays are aren't they? But over the next five minutes we'll tell you more about what you should be watching out for at the start of the new trading week. Some key stocks that will be in action and all the updates from the Academy Awards. You know barring this dramatic recovery that we saw during the second half of Wednesday's session the market otherwise has been quite range bound. But the NFTI is on the cusp of $22,500. It did manage to cross that on an intraday basis but has not managed to sustain about that. So two levels that one needs to track today. One is Thursday's high which is $22,525 and the next one is just 8 points higher which is $22,533 which will mean that the index would have tripled from its COVID-19 low of $7511 which it fell to in March of 2020. A thing to notice though is that no single up move so far over the last few months has been broad based. It has been led by one or two sectors. When banks were underperforming it was IT that stepped up. Now an IT has begun to crack along with that regulatory action on certain NBFCs. The private and PSU banks have stepped up to ensure that the market continues to move higher. So the market is in good stead as of now. And the market will need these sectors to keep performing because global queues from Friday night are not very supportive. Remember we were off on Friday but the global markets were open. Nvidia saw very volatile moves on Friday night which dragged the NASDAQ lower by a percent. Now other US indices also ended lower Asian markets this morning have also opened lower with the Nikai down over 2% on last check but the gift NFTI is pointing to a very very strong start. Then that is a gap up of well over 100 points as we speak. So no impact of global queues at least as of now. Now here are 5 stocks that you should be keeping an eye out for in today's trading session. And first up is indigo or interglobe aviation where a big block deal is likely to take place. And promoter Rakesh Gangwal is likely to sell up to 5.8% stake in this deal which is valued at around 6600 crore rupees. Now Gangwal had earlier planned to sell around 3.3% stake but that block size was revised higher over the weekend. Now the floor price of this deal is fixed at 2925 per share which is a discount of nearly 6% from last Thursday's closing price. So keep an eye out on that one. Also in focus is JM Financial, developments continue over there as well. And now the SEBI, the market regulator has barred the company from acting as a debt issue lead manager and they have also barred the company from taking new mandates in a debt public issue. Now SEBI said that they are planning on completing this investigation on JM Financial in the next 6 months. Now late last evening the company put out an investor presentation, they detailed their financial and liquidity position that they have currently. So they are doing their bit to defend themselves but JM Financial also will be in focus. And of course there are Tata group stocks which saw a stupendous rally all through last week and that was because over this potential listing of Tata sons. But now sources are telling CNBC TV18 that the listing of Tata sons is unlikely over the foreseeable future and that the group is looking at multiple options to navigate this upper tier NBFC norm of the Reserve Bank of India. Now among the options are cutting down debt on a group level or hiving of units like Tata capital. These are some of the options that are on the table according to the sources. DB Realty has launched a QIP in order to raise funds and sources are saying that they are planning to raise around 1500 crore rupees through that and the proceeds from that are likely to be used for business development and for repayment of loans. Also watch out for RVNL Real Vikasnigam where they have one multiple letter of award. There are some two three LOAs that they have received for orders totaling worth nearly 2000 crore rupees and these orders are from Madhya Pradesh and from Himachal Pradesh as well. Now in fact since we spoke of Tata group stocks Tata Chemicals has now entered the F&O Band. Remember it saw some stupendous moves over the last few days most all of through last week. Along with Tata Chemicals sale is also in the F&O Band and both these stocks have joined Monopuram Finance, MGL and Z Entertainment whose business had quit over the long weekend. So all of these five stocks are now in the F&O Band and there are plenty of other stocks as well that are likely to be in action today but since we are bound by time you can read about all of them on cnbctv18.com. Now aside of all of these names a very interesting note has been put out over the weekend by quota institutional equities where they are advising investors to not get carried away by the PSU rally and exit their positions if they have made profits. Now the note is saying that there are several problems with this euphoria around these PSU stocks including incorrect valuation methodologies and unrealistic narratives. So keep an eye out for PSU stocks as well. Now the Oscars are in full flow as we speak and Robert Downey Jr has won the Academy Award for the best supporting actor for his role in Oppenheimer. This full coverage is also available on cnbctv18.com and that is all for today. We wish you a wonderful trading day ahead and if you find this podcast helpful do write to us on our social media platforms which will help us make this better. Thank you all for tuning in. [Music]