Morning Notes
11th Feb, 2020

Trading Range:

Nifty opened flat at 12102 on Monday and made a high and low of 12104 and 11991 respectively before closing negative at 12032.


For the day, support for Nifty exists at 11970 and 11910 levels whereas resistance for Nifty stands at 12090 and 12160 levels.


Bank Nifty opened gapup at 31249, made a high of 31249, low of 30957, and closed negative at 31058. For the day, support for Bank Nifty exists at 30900 and 30700 levels whereas resistance for Bank Nifty stands at 31200 and 31400 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 40,980 -0.39
Nifty 12,032  -0.55
BSE 200 5,086 -0.55
BSE Midcap 15,781 -0.78
BSE Smallcap 14,776 -0.43
Dow Jones 29,277 +0.60
NASDAQ 9,628 +1.13


NIFTY 12031.50 (-66.85) (-0.55%)
NIFTY FEB FUTURE 12040.05 (8.55 Points Premium)
NIFTY PCR - OI 1.32 (-0.08)
NIFTY OPEN INTEREST 1.50 Cr. (+1.58%)
INDIA VIX 14.21 (+3.36%)


CALL 12000 CE +3.25 lac Shares
CALL 12100 CE +0.58 lac Shares
PUT 12000 PE +3.04 lac Shares
PUT 11800 PE +1.82 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,647 -2.37
Bankex 35,537 -0.39
PSU 6,585 -1.47
Healthcare 14,241 -0.29
IT 16,115 -0.06
Market Turn Over (`cr)
Index 10/02 07/02
BSE Cash 2,295 3,886
NSE Cash 33,944 37,945
NSE F&O 919,138 806,709
BSE Delivery % 51.39 51.27
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 20.79 79.21
BSE 200 25.87 73.63
BSE 500 30.14 69.26
Total BSE 35.71 57.98
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 49.81 +0.48
Gold Rs./ 10 Gms 40679.00 +0.09
Silver Rs./ Kg 46229.00 +0.27
Rs.- US $ 71.39 -0.17
Rs.- Euro 77.88 -0.55
FII (Rs cr )
10/02* 07/02*
FIIs +9943.68 -100.98
MFs - -

*Date refers to the day of activity and not the day on which it is reported.

Details Buy Sell Open interest at the
end of the day
Net Position
No. of
(Rs. Cr)
No. of
(Rs. Cr)
No. of
(Rs. Cr)
(Rs. Cr)
Index Futures       29,489.00       2,306.11       33,867.00       2,715.63    1,73,688.00     14,666.12    (409.52)
Index Options  24,25,329.00  1,74,286.28  24,08,601.00  1,72,846.31    6,90,412.00     58,479.39  1,439.97
Stock Futures    1,98,777.00     13,058.27    1,91,193.00     12,714.27  15,79,998.00  1,03,293.11     344.00
Stock Options       65,448.00       4,640.98       65,129.00       4,590.86       64,697.00       4,428.76       50.12
Total  27,19,043.00  1,94,291.64  26,98,790.00  1,92,867.07  25,08,795.00  1,80,867.38  1,424.57
Corporate News
Leading tyre maker MRF has said that it has partially commissioned Phase 1 of its Greenfield unit at Dahej Industrial area, Gujarat. (BL).
Infrastructure giant Larsen & Toubro (L&T) on Friday said it has entered into a pact with ideaForge, a domestic unmanned aerial vehicles manufacturer, to offer drones and allied systems for defence use. in more news, the power transmission and distribution (T&D) business of L&T Construction has secured orders from clients in India, the Philippines and Saudi Arabia. The projects are estimated to be in the range of Rs 2,500-5,000 crore, the company said in a filing to the exchanges. (ET).
Hinduja flagship firm Ashok Leyland on Monday said its UK arm Optare has bagged orders for supplying 37 electric double-decker buses in London. (BS).
Volvo Cars India on Monday said its entire range in the country now conforms to BS-VI emission norms. Volvo Cars India on Monday said its entire range in the country now conforms to BS-VI emission norms. (ET).
State-owned Steel Authority of India Ltd (SAIL) will not close down three of its loss-making speciality steel plants if the company does not find buyers for these units, its Chairman Anil Kumar Chaudhary said. (BL).
Crisis-hit IL&FS Group has received approvals from various government authorities for claims worth about Rs.2,700 crore towards stuck or incomplete road projects, officials said. The NHAI Conciliation Committee recently approved a claim for approximately Rs.707 crore for the ILFS-Fagne Songadh Expressway Limited project (in Gujarat-Maharashtra border area), while the committee had earlier approved claims of Rs.902 crore for the Khed Sinnar Expressway project (in Maharashtra). (BS).
Srikalahasthi Pipes beats slowdown, books Rs.500-cr orders in six months. (ET).
State-owned BHEL on Monday said it has commissioned two units of Kameng Hydroelectric Project (HEP) in Arunachal Pradesh. (BL).
JSW Steel on Monday reported 2.9 per cent decline in crude steel output at 14.10 lakh tonnes (LT) during January, 2020. The company had posted crude steel output of 14.53 lakh tonnes in the year-ago period, JSW Steel said in a filing to BSE. (BL).
Cadila Healthcare informed the exchanges today that the company's topical manufacturing facility located at Ahmedabad, India has received an Establishment Inspection Report (EIR) from the USFDA signifying the successful closure of the audit. The topical manufacturing facility had completed the USFDA audit from 16th to 20th December 2019 with zero 483 observations. (BL).
Quarterly Earnings
Sugar firm Balrampur Chini Mills on Monday posted 40 per cent decline in consolidated net profit at Rs.72.50 crore for December quarter 2019 on higher expenses. The company had clocked a profit of Rs.120.93 crore during October-December period of 2018-19. Net income increased to Rs.1,202.60 crore during the third quarter of this fiscal from Rs.962.68 crore in the year-ago period. (BL).
FMCG firm Bajaj Consumer Care Ltd on Monday reported a 17.83 per cent decline in consolidated net profit at Rs 48.74 crore for the third quarter ended December 2019. The company had posted a net profit of Rs 59.32 crore in the October-December quarter a year ago, Bajaj Consumer Care said in a BSE filing. The company's net sales during the quarter fell 8.20 per cent to Rs 206.56 crore as against Rs 225.03 crore in the corresponding quarter a year ago. (ET).
Indiabulls Real Estate (IBREL) on Monday reported a 75.69 per cent decline in consolidated net profit at Rs 49.27 crore for the quarter ended December 2019, mainly due to higher expenses. The company had reported a profit after tax (PAT) of Rs 202.4 crore in the corresponding quarter last fiscal, it said in a BSE filing. Total income for the period under review increased marginally by 2.33 per cent to Rs 1317.7 crore as compared to Rs 1,287.59 crore in Q3 FY2019. (BL).
Punjab & Sind Bank on Monday reported a net loss of Rs 255.49 crore for the quarter ending December due to a spike in bad loans. The state-owned lender had made a net profit of Rs 22.34 crore during the same quarter of the previous fiscal year. Total income during the third quarter of 2019-20 declined to Rs 2,077.01 crore from Rs 2,337.13 crore for the year ago same period, the bank said in a regulatory filing. (ET).
Petronet LNG Ltd, India's biggest liquefied natural gas importer, on Monday reported highest ever quarterly net profit of Rs 675 crore in the third quarter ended December on back of processing higher volumes of gas. Net profit in October-December at Rs 675 crore was 17 per cent higher than Rs 565 crore net profit in the same period a year ago. Petronet processed 233 trillion British thermal units (TBtus) of LNG in the quarter as compared to 202 TBtus in Q3 of 2018-19. Its flagship Dahej import facility in Gujarat operated at around 100 per cent of its nameplate capacity and processed 222 TBtus of LNG, up from 197 TBtus a year back. (BL).
State-owned reinsurance major GIC Re on Monday reported a net loss of Rs 1,556.50 crore for the nine months to December 2019, as against a net profit of Rs 1,621 crore a year ago, impacted by huge claims from across the world and also natural calamities impacting the domestic farm sector. At a consolidated level, gross premium income grew 13.7 per cent to Rs 42,229.51 crore and investment income of the group rose to Rs 5,298.66 crore from Rs 4,817 crore. (BL).
State-owned Union Bank of India on Monday reported a net profit for Q3 FY20 at Rs 575 crore as compared to a loss of Rs 1,194 crore in Q2 FY20. Net interest income for the Q3 FY20 increased by 25.7 per cent to Rs 3,134 crore as compared to Rs 2,493 crore in Q3 FY19. Domestic net interest margin improved to 2.55 per cent as compared to 2.23 per cent in the year-on period. The CASA (current account savings account) base increased by 57 basis points quarter-on-quarter to 34.4 per cent at the end of Q3 FY20. Net NPA ratio remained stable at 6.99 per cent as on December 31, 2019 compared to 6.98 per cent as on September 30, 2019. Provision coverage ratio stood at 67.42 per cent at the end of Q3. Tier-one and common equity tier (CET)-1 capital ratio stood at 12.69 per cent and 11.35 per cent respectively. (BS).
Indian Overseas Bank (IOB) on Monday reported a standalone loss of Rs 6,075.49 crore for the quarter ended December 31. The public sector lender had posted a loss of Rs 346.02 crore in the same period last year. The bank kept aside Rs 6,663.94 as provisions for bad loans in the quarter, which hit its bottom line. The number stood at Rs 2,075 crore in the year-ago period. Total income of IOB during the quarter came in at Rs 5,197.95 crore while interest income stood at Rs 2,867.66 crore. The lender said its provision coverage ratio improved to 86.20 per cent during the quarter against 64.23 per cent in the year-ago period. (ET).
GAIL on Monday posted 12.93 per cent year-on-year rise in consolidated profit at Rs 2,029.51 crore for the quarter ended December 31. The gas major had posted a profit of Rs 1,797.04 crore in the same period last year. Consolidated revenue, however, declined 11.52 per cent to Rs 17,898.16 crore during the quarter under review. The board also declared an interim dividend of Rs 6.40 per share on face value of Rs 10 each, amounting to Rs 2,886.49 crore. (ET).
Grasim Industries on Monday reported a 69.63 per cent year-on-year (YoY) drop in standalone net profit at Rs 184.67 crore for the December quarter compared with 608.15 crore in the same quarter last year. Revenue for the quarter fell 14.97 per cent to Rs 4,498.89 crore compared with Rs 5,291.41 crore in the year-ago quarter. (BL).
Auto components maker Bharat Forge on Monday posted a 81.3 per cent decline in consolidated profit at Rs 40.4 crore for the quarter ended December 31, 2019. The company had posted consolidated profit of Rs 216.9 crore in the year-ago period, Bharat Forge said in a filing to BSE. The consolidated income of the company during October-December quarter dropped to Rs 1,868 crore, from Rs 2,516.6 crore in the year-ago period, the filing said. (BL).
Motherson Sumi Systems Ltd on Monday reported 38.6 per cent decline in its consolidated profit at Rs 340.32 crore for the quarter ended December 31, 2019. The company had posted consolidated profit of Rs 554.99 crore in the year-ago period, the filing said. The consolidated income during October-December period declined to Rs 15,739.38 crore, over Rs 16,533.99 crore in the year-ago period. (BS).
Economy and Sector News
ONGC, Indian Oil Corporation (IOC) and NTPC were the top three profitable PSUs in 2018-19, whereas BSNL, Air India and MTNL incurred highest losses for a third consecutive year, according to a survey tabled in Parliament on Monday. The Public Enterprises Survey 2018-19, which maps the annual financial performance of all central PSUs, revealed that the top 10 companies in the red claimed a whopping 94.04 per cent of the total losses made by all the 70 loss making CPSEs during the year. In more news, LNG logistics company Atlantic Gulf & Pacific (AG&P) on Monday said it will hire a floating LNG terminal from Abu Dhabi’s ADNOC Logistics and Services to set up India’s first floating LNG import facility at Karaikal Port in Puducherry. The two firms “signed an agreement for the conversion, supply, operations and maintenance of a floating storage unit (FSU) at AG&P’s new LNG import facility located within Karaikal Port in Puducherry, India,” the company said in a statement. (BL).
Coal imports in November rose 8.6 per cent from a year earlier to 21.83 million tonnes, government data showed, following three straight months of decline. Imports of thermal coal — used mainly for electricity generation — rose 12.3 per cent from a year ago to 17.65 million tonnes, whereas coking coal shipments into the country fell 5 per cent from a year earlier to 4.18 million tonnes, data from the Ministry of Coal showed. Thermal coal imports fell from August to October, their longest sustained fall in over two years, due to a broader economic slowdown that stifled demand from industrial consumers. (ET).
The amount of debt raised by India Inc via public issuances saw a sharp 59 per cent decline in the first nine months of the current financial year to Rs.11,746 crore against Rs.28,565 crore in the year- ago period. This comes in the backdrop of credit events relating to IL&FS, Dewan Housing Finance Corporation Ltd and Reliance Home Finance Ltd spooking retail investors. (BL).
Lemon Tree Hotels on Monday said it has signed a license agreement with Bhangeri Durbar Resort Pvt Ltd, for an upcoming Hotel at Nagarkot in Nepal. The 51-rooms Bhangeri Durbar Resort at Nagarkot will be operated through company’s subsidiary and management arm, Carnation Hotels Pvt Ltd, Lemon Tree Hotels said in a regulatory filing. The 51-rooms Bhangeri Durbar Resort at Nagarkot will be operated through company’s subsidiary and management arm, Carnation Hotels Pvt Ltd, Lemon Tree Hotels said in a regulatory filing.. (ET).
* ET - Economic Times, BS - Business Standard, BL - Business Line, TOI - Times of India, Mint, IE - Indian Express, BT - Business Today, IE - Indian Express
Global Markets

DJIA and NASDAQ Composite

US markets closed higher on Monday as news of some major corporate deals temporarily distracted market participants from headlines related to the Wuhan coronavirus outbreak. The Dow Jones Index closed at 29,277, up 174.31 points by 0.60%. The Standard & Poors 500 index closed at 3,352, up 24.38 points by 0.73%. The Nasdaq Composite Index closed at 9,628, up 107.88 points by 1.13%.

FTSE 100

UK markets were a little weaker on Monday amid ongoing concerns about the spread of the coronavirus, as the UK declared it a "serious and imminent threat" to the public and health secretary Matt Hancock declared Wuhan and Hubei province in China an "infected area". The FTSE 100 index closed at 7,447, down 19.82 points by 0.27%.

Global Indices
10/02/2019 Clsg Chg%
Dow Jones 29,277 +0.60
NASDAQ 9,628 +1.13
FTSE 100 7,447 -0.27
Bovespa 112,570 -1.05
11/02/2020 Latest
(6:09AM IST)
Nikkei 23,686 -0.60
Hang Seng 27,241 -0.59


Asian share markets started trading early in the morning on Tuesday on a negative note as the investors will be closely watching the US markets. Nikkei is currently trading at 23,686, down 142.00 points by 0.60%.

Precious Metals

Risk aversion helped lift gold on Tuesday to its highest for a week, though the strength of the dollar made for a slow climb. It was last at $1,571.58 per ounce XAU=.

Base Metals

The London Metal Exchange three-month lead price closed at its lowest level since May 2019 on Monday February 10, dipping below the key $1,800-per-tonne support level, while nickel futures struggled to breach resistance against thin trading volumes.

Crude Oil

Oil futures fell on Monday to their lowest settlement in more than a year, undercut by the hit to Chinese demand for crude in the wake of the coronavirus outbreak and indications OPEC and its allies are unlikely to immediately deliver an additional cut to production.


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ACMIIL/its associates and its Research analysts have no financial interest in the companies covered on the report. ACMIIL/ its associates and Research analysts did not have actual/beneficial ownership of one per cent or more in the companies being covered at the end of month immediately preceding the date of publication of the research report. ACMIIL/its associates or Research analysts have no material conflict of interest, have not received any compensation/benefits for any reason (including investment banking/merchant banking or brokerage services) from either the companies concerned/third parties with respect to the companies covered in the past 12 months. ACMIIL/its associates and research analysts have neither managed or co-managed any public offering of securities of the companies covered nor engaged in market making activity for the companies being covered. Further, the companies covered neither are/nor were a client during the 12 months preceding the date of the research report. Further, the Research analyst/s covering the companies covered herein have not served as an officer/director or employee of the companies being covered.

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