Morning Notes
12th Feb, 2020

Trading Range:

Nifty opened gap up at 12107 on Tuesday and made a high and low of 12172 and 12099 respectively before closing positive at 12108.


For the day, support for Nifty exists at 12040 and 11980 levels whereas resistance for Nifty stands at 12170 and 12220 levels.


Bank Nifty opened gap up at 31230, made a high of 31506, low of 31226, and closed positive at 31301. For the day, support for Bank Nifty exists at 31000 and 30800 levels whereas resistance for Bank Nifty stands at 31500 and 31700 levels.

Market Scan
Benchmark Indices
Index Clsg Chg%
Sensex 41,216 +0.58
Nifty 12,108  +0.63
BSE 200 5,108 +0.43
BSE Midcap 15,836 +0.35
BSE Smallcap 14,749 -0.18
Dow Jones 29,276 -0.00
NASDAQ 9,639 +0.11


NIFTY 12107.90 (+76.40) (+0.63%)
NIFTY FEB FUTURE 12126.85 (18.95 Points Premium)
NIFTY PCR - OI 1.39 (+0.07)
NIFTY OPEN INTEREST 1.47 Cr. (-2.28%)
INDIA VIX 13.88 (-2.32%)


CALL 12400 CE +2.02 lac Shares
CALL 12100 CE -1.15 lac Shares
PUT 12000 PE -0.39 lac Shares
PUT 12100 PE +1.79 lac Shares
Sectoral Indices (BSE)
Index Clsg Chg%
Auto 17,738 +0.51
Bankex 35,821 +0.80
PSU 6,619 +0.52
Healthcare 14,334 +0.65
IT 16,116 +0.01
Market Turn Over (`cr)
Index 11/02 10/02
BSE Cash 2,468 2,295
NSE Cash 35,117 33,944
NSE F&O 1,140,799 919,138
BSE Delivery % 55.21 51.39
Advances / Decines BSE Cash
Adv(%) Dec(%)
BSE 100 62.38 37.62
BSE 200 54.23 44.78
BSE 500 47.11 51.70
Total BSE 40.64 52.17
Commodities, Forex & Debt
Clsg Chg%
Crude Oil NYMEX $ bl 50.13 +0.38
Gold Rs./ 10 Gms 40410.00 -0.66
Silver Rs./ Kg 45664.00 -1.22
Rs.- US $ 71.31 -0.11
Rs.- Euro 77.84 -0.05
FII (Rs cr )
11/02* 10/02*
FIIs -502.85 +9943.68
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       46,245.00       3,751.21       30,680.00       2,347.42    1,74,543.00     14,659.78  1,403.79
Index Options  28,44,005.00  2,03,134.35  28,32,465.00  2,02,232.71    6,96,676.00     59,352.54     901.64
Stock Futures    1,83,724.00     12,276.36    1,72,065.00     11,697.45  15,76,335.00  1,03,651.00     578.91
Stock Options       67,731.00       4,760.68       67,336.00       4,716.92       68,798.00       4,737.61       43.76
Total  31,41,705.00  2,23,922.60  31,02,546.00  2,20,994.50  25,16,352.00  1,82,400.93  2,928.10
Corporate News
The watches and wearables business of Titan Company Ltd has announced the acquisition of Hyderabad-based technology and wearables company, HUG Innovations. (BL).
FMCG major ITC Ltd has initiated a steep 10-20 per cent hike in prices across select cigarette brands. This follows the increase in National Calamity Contingency Duty (NCCD) announced in the Union Budget this year. (ET).
Marksans Pharma on Tuesday said it has received an establishment inspection report (EIR) from the US health regulator for company’s manufacturing facility in the US. In a regulatory filing, the company announced receipt of the EIR from US Food and Drug Administration (USFDA) in respect of inspection of company’s manufacturing facility Time-Cap Laboratories Inc. located at Farmingdale, New York, USA carried out from December 5 to December 18, 2019. (BS).
Greaves Cotton plans new products, network expansion and other initiatives to strengthen its electric mobility business with growing sales of its electric two-wheelers and three-wheelers. (ET).
Mahindra & Mahindra Ltd is looking at a fund infusion of 450-500 billion Korean Won (Rs.2,700-3,000 crore) to bring its South Korean subsidiary SsangYong Motor Company back to profitability by 2022. SsangYong had posted its highest ever yearly loss in 2019. (BL).
Drug firm Granules India has received tentative approval from the US health regulator for its generic Colchicine capsules indicated for prevention of gout flares in adults. Drug firm Granules India has received tentative approval from the US health regulator for its generic Colchicine capsules indicated for prevention of gout flares in adults. (BS).
The President of India, acting through the Union Steel Ministry, has sold 8,05,82,119 equity shares of NMDC Ltd (the target company), amounting to 2.63 per cent stake, to an asset management company (AMC). Following the move, the shares held by the President have now come down from 72.28 per cent to 69.65 per cent. These divested shares have a face value of ₹306.18 crore. (ET).
J B Chemicals & Pharmaceuticals Ltd on Tuesday said it has received Establishment Inspection Report (EIR) from the US health regulator for its manufacturing facility at Panoli, Gujarat. In more news, Zydus Cadila said on Tuesday that it has received the final approval from the USFDA to market Fluocinonide Cream USP, (US RLD - Vanos Cream) 0.1 %. The group now has 279 approvals and has so far filed over 386 ANDAs since the commencement of the filing process in FY2003-04, the company added. (BL).
Low cost carrier IndiGo on Tuesday announced a four-day special Valentine sale on travel across its network within India with all-inclusive fares starting at Rs 999. The airline is offering one million seats on discounted fares from February 11 to February 14. The sale is valid for travel from March 1 to September 30, a company statement said. (BL).
BASF said in the filing that the board of directors has approved the divestiture of construction chemicals business of the Company to Master Builders Solutions India Private Limited, wholly-owned subsidiary of BASF SE, for a consideration of Rs595.16cr (on slump sale and at arm’s length basis), subject to the approval of the Shareholders of the Company, being a related party transaction, and such other approvals as may be required in this regard. For this purpose, the Board has also taken into consideration the valuation report issued by Deloitte Touche Tohmatsu India LLP. (BL).
Quarterly Earnings
RP-Sanjiv Goenka Group flagship CESC Ltd has reported a 2 per cent rise in standalone net profit to Rs.176 crore for the quarter ended December 31, 2019. The net profit in the corresponding period last fiscal stood at Rs.173 crore. Net profit was driven primarily by a decline in tax expense for the period under review. Tax expense stood at Rs.38 crore,; a near 57 per cent decline over the Rs.88 crore it reported in the year-ago-period. The company, however, saw a near 4 per cent year-on-year decline in revenue in operations to Rs.1,648 crore (1,707 crore). Even profit before tax saw a near 18 per cent, year-on-year, decline to Rs.214 crore. (BL).
Leading online travel firm MakeMyTrip on Tuesday reported a narrowing of its adjusted operating loss to USD 11 million (over Rs 78 crore) for the quarter to December 2019. The company had posted an adjusted operating loss of USD 22.2 million (over Rs 158 crore) for the corresponding period of the previous fiscal, MakeMyTrip said in a statement. The adjusted revenue for the quarter under consideration reached a new quarterly high of USD 206.7 million (over Rs 1,470 crore). It was USD 179.9 million (over Rs 1,280 crore) for the same period year ago. (ET).
Jindal Stainless has reported a consolidated net profit of Rs 52 crore for the December quarter of financial year 2019-2020, a 17% rise as against Rs 43 crore during the same period last year. Consolidated total income from operations for the quarter under review stood at Rs 3,302 crore a marginal decline from Rs 3,306 crore YoY. Consolidated EBITDA rose by 25% and was recorded at Rs 299.64 for Q3 FY 20, as against Rs 223.10 during the same quarter last year. (BL).
State-owned Allahabad Bank has reported Rs 1986 crore net loss in December quarter compared with Rs 733 crore net loss in the year ago period, owing to higher provisioning against bad loans as the lender were on trip to cleanse the balance sheet before its merger with Indian Bank. Net loss for the September quarter was Rs 2114 crore. The bank's gross non-performing assets (NPA) deteriorated to 18.93% of total advances compared with 17.81% a year back, compelling the lender raise provisioning to Rs 3003 crore from Rs 1900 crore to cover bad loans. (ET).
Mining major Coal India on Tuesday reported a 14.1 per cent decline in profit at Rs 3,921.81 crore for the quarter ended December 31. The state-run company had reported a profit. Coal India’s net sales dropped 7.8 per cent from a year before to Rs 21,566.41 crore. (BL).
Leading stock exchange BSE on Tuesday reported a 10 per cent decline in consolidated net profit to Rs 44.93 crore in third quarter ended December 31, 2019. In comparison, the exchange had a net profit of Rs 50.07 crore in the year-ago period, BSE said in a regulatory filing to the stock exchanges. Total income declined to Rs 148.66 crore in the October-December period of the ongoing fiscal from Rs 177.11 crore in the same quarter previous financial year. (BL).
Arvind Fashions Ltd (AFL) on Tuesday reported a consolidated net loss of Rs 50.53 crore in the third quarter ended on December, 2019. The company had posted a net profit of Rs 8.39 crore in the year-ago period, AFL said in a BSE filing. Its net sales during the period under review was at Rs 1,135.45 crore. It was Rs 1,259.03 crore in the year-ago period. (BS).
Siemens Ltd on Tuesday said its consolidated net profit rose 15 per cent to Rs 265.8 crore for the quarter ended on December 31, 2019, mainly on account of reduced expenses. The company had posted a net profit of Rs 230.9 crore in the year-ago period, Siemens said in a BSE filing. The company follows October-September financial year. Total income for the period under review stood at Rs 2,771.9 crore as against Rs 2,914.3 crore in the year-ago-quarter. (ET).
Syndicate Bank on Tuesday said its net profit in December quarter 2019 grew manifold to Rs 434.82 crore as bad loans shrank. The public sector lender had registered a profit of Rs 107.99 crore in the year-ago period. Total income during the quarter increased to Rs 6,316.57 crore from Rs 6,077.62 crore in the same period of 2018-19, Syndicate Bank said in a regulatory filing. The provision coverage ratio as on December 31, 2019 stood at 69.28 per cent. (ET).
Engineering major Bharat Heavy Electricals Ltd (BHEL) on Tuesday reported 17.21 per cent year-on-year drop in consolidated profit at Rs 162.67 crore for the quarter ended December 31. The company had posted a profit of Rs 196.48 crore in the same period last year. Sales of the company declined 23.32 per cent to Rs 5,459.24 crore. Total expenditure declined to Rs 5,608.36 crore in Q3FY20 over Rs 7,293.15 crore in Q3FY19. (BL).
Public lender IDBI Bank on Tuesday said its loss widened to Rs 5,763.04 crore for the December quarter from Rs 4,185.48 crore in the year-ago period. The bank had repoted Rs 3,458.84 crore loss in the September quarter. The lender, however, said it would have reported a profit of Rs 418 crore instead of a loss of Rs 5,763 crore, if continued under the old tax regime. Gross non-performing assets (NPAs) for the quarter fell to 28.72 per cent from 29.43 per cent in September quarter and 29.67 per cent in the year-ago quarter. (BL).
National Aluminium Company (Nalco) suffered a consolidated net loss of Rs 34 crore in the third quarter ended December 31, 2019 against a profit of Rs 302.35 crore in Q3FY19. Revenue from operations declined by 23 per cent to Rs 2,088.35 crore in Q3FY20 against Rs 2,718.88 crore in Q3FY19, according to a notification sent by the company to the BSE on Monday. (BS).
Economy and Sector News
Gems and jewellery exports continued to fall, declining by 9 per cent to $2.96 billion in January 2020, against $3.26 billion in the year-ago period on lower demand. In rupee terms, it declined 8 per cent to Rs.21,147 crore (Rs.23,100 crore) in January, according to government data. Cut and polished diamond exports were down 6 per cent at $1.65 billion ($1.75 billion) while in rupee terms they dipped to Rs.11,757 crore (Rs.12,366 crore). Gold jewellery exports were down 3 per cent at $889.10 million. In more news, Fish production in the country increased by 6.6 per cent to 134.22 lakh tonnes (lt) in 2018-19, as against 125.9 lt in 2017-18, as per provisional estimates, Minister for Fisheries, Animal Husbandry and Dairying Giriraj Singh told the Lok Sabha on Tuesday. (BL).
India’s electricity demand grew 3.7% in January for the first time after five months of decline. The power demand for electricity stood at 1,05,289-mw in January 2020 against 1,01,570-mw in December 2019. The demand was 3.5% higher than 1,01,713-mw registered in January 2018, data available with the Central Electricity Authority said. In more news, the Haryana Enterprise Promotion Board (HEPB), under the chairmanship of Chief Minister, Manohar Lal today approved special package of incentives amounting to over Rs 1246 crore to four Mega Projects to be established in the B, C and D category of Blocks in the State. This approval was granted in the 7th meeting of the Board here today. (ET).
Investments by Indian firms in foreign countries in January 2020 rose by nearly 40 per cent to USD 2.10 billion on a yearly basis, according to data by the Reserve Bank. Indian companies had invested USD 1.47 billion in their overseas ventures in the same month a year ago. Compared monthly, January investments were higher than USD 1.99 billion in December 2019, showed the RBI data on 'Outward Foreign Direct Investment (OFDI)'. Of the total capital invested by the India Inc in January this year, USD 793.82 million was in the form of equity capital, USD 368.55 came in as debt capital, while the rest USD 890.75 million was through the issuance of guarantee. (BL).
Oil and Natural Gas Corporation (ONGC) has lined up an estimated investment of Rs.78,000 crore in Andhra Pradesh. This includes Rs.68,000 crore for offshore projects and Rs.10,000 crore in Onshore projects. This information was shared by top ONGC officials during a meeting with Vice-President of India, M Venkaiah Naidu about the company’s projects in Krishna Godavari Basin and Rajamundry. (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 turned in a mixed performance on Tuesday as Wall Street continued to shrug off worries about the economic impact of the Wuhan coronavirus outbreak. The Dow Jones Index closed at 29,277, down 0.48 points by 0.00%. The Standard & Poors 500 index closed at 3,358, up 5.66 points by 0.17%. The Nasdaq Composite Index closed at 9,639, up 10.55 points by 0.11%.

FTSE 100

UK markets rose on Tuesday, boosted by hopes that the outbreak of the new China coronavirus might be slowing further and alongside record highs for the Dow Jones Industrials and S&P 500, together with the benchmark German stockmarket index, the Dax. The FTSE 100 index closed at 7,499, up 52.56 points by 0.71%.

Global Indices
11/02/2019 Clsg Chg%
Dow Jones 29,277 +0.00
NASDAQ 9,639 +0.11
FTSE 100 7,499 +0.71
Bovespa 115,371 +2.49
12/02/2020 Latest
(6:08AM IST)
Nikkei 23,846 +0.68
Hang Seng 27,584 +1.26


Asian share markets started trading early in the morning on Wednesday on a positive note as the investors will be closely watching the US markets. Nikkei is currently trading at 23,846, up 159.92 points by 0.68%.

Precious Metals

Gold futures ended lower on Tuesday for the first time in five sessions as global equity markets punched higher, with the moves being attributed to an apparent slowdown in the spread of the coronavirus.

Base Metals

London Metal Exchange base metals prices were trading up at the close on Tuesday February 11, bolstered by a fresh injection of capital from the People’s Bank of China (PBoC).

Crude Oil

Oil futures settled with a gain on Tuesday to recoup some of the losses seen a day earlier when they posted their lowest settlement in more than a year.


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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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