In yesterday’s trading session, Bank Nifty lost 1.56%, with PSU and Private Banks losing 0.75% and 1.27% respectively.
We expect intraday range could be 35,249 to 36,253 with sideways to negative momentum & broader range could be expected between 34,931 to 36,567 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty witnessed a highly volatile session, with India VIX reaching 24.57.
We expect intraday range could be 14,831-15,306 with sideways to negative momentum while broader range could be 14,674 to 15,489.
In yesterday’s trading session, Bank Nifty gained 2.68%, with PSU and Private Banks gaining 3.16% and 2.75% respectively.
We expect intraday range could be 35,912-36,868 with sideways to positive momentum & broader range could be expected between 35,623 to 37,158 zone for this week.
Nifty Intraday Outlook
In Wednesday’s trading session, Nifty witnessed a spike ahead of new calculation method, making the Nifty valuation cheaper.
We expect intraday range could be 15,044-15,496 with sideways to positive momentum while broader range could be 14,859 to 15,633.
Prices of base metals such as Aluminum (+4.1%),
Copper (+9.2%), Iron Ore (+0.7%), Lead (+1.7%) and Zinc (+1.1%) continued its
uptrend for the third consecutive week, with bulls making their mark in the
COMEX Market on the back of buoyant demand. As for precious metals, both, gold
and silver rallied on Monday and Tuesday, however, they lost all the gains
during the rest of the week, losing 0.5% and 1.0% respectively as compared to
the closing prices of the week before.
Gold and Silver made new lows of $1,734 and
$26.67 respectively on Friday as the 10 year US bond yields continued to rise,
returning to the pre-pandemic levels of last year after FED Chairman vowed to
keep the accommodative policy to support economic recovery. US Dollar as well
continued to become stronger, being the best alternative to gold amid a crash
in equity indices in the second half of the week.
Crude oil prices reached to the highest levels
in more than 11 months on Thursday, after the U.S. Federal Reserve assured that
interest rates would stay low for a while and also supported by lower crude
production in the US, after a rare winter storm in Texas. However, the prices
are expected to weaken, as the OPEC Plus group will discuss a modest easing of
oil supply curbs from April.
We expect the precious metal prices to trade volatile
in sideways to marginally negative trend in the current week. The investors
will have to keep an eye on the most important data – the Non-farm Payrolls
report and the Average Hourly Earnings portion during the week, which has an
inverse relationship with gold. Along with that, the COVID-19 vaccination drive
expansion may also continue to weigh on gold and silver.
For the week, we expect gold in COMEX market to be in the range of $1,680 to $1,790, while silver is expected to be in the range of $26.2 to $28.0. Whereas, for bullion market traders, we assume gold futures to trade in the range of 45,550 – 45,300 to 46,500 – 46,800.
MTAR Technologies Ltd is defence and space technologies firm, planning to raise INR 596 crs. It has already raised INR 100 crs through a pre-IPO private placement of 18.51 lakh shares at a price of INR 540 with three entities of SBI and three entities of Axis.
Issue Details
Company Strengths
Complex
product manufacturing capability
Wide
product portfolio
Modern
technology at manufacturing facilities
Strong
and diversified supplier base
Financial
performance growth track record
Qualified
and experienced management team.
Valuation
At upper price band, MTAR is valued at PE of 41.11x on the basis of annualized FY21 E EPS of 13.9, against sector PE of 61.5x.
Issue Break-Up
Utilization of Funds
Background highlights of the company in brief
Incorporated in November 1999, MTAR Technologies is a leading precision engineering solutions company engaged in the manufacturing of mission critical precision components to serve projects of high national importance.
The company primarily serve customers in the clean energy, nuclear, and space & defense sectors.
MTAR has grown into a major group with state-of-the art facilities, with machining, assembling, specialized fabrication, painting and special processes facilities available under one roof, which are probably considered as one of the best facilities available in India, as well as in Asia.
The key product portfolio of the company includes critical assemblies such as Liquid propulsion engines to GSLV Mark III, Base Shroud Assembly & Airframes for Agni programs, Actuators for LCA, power units for fuel cells, Fuel machining head, Bridge & Column, Thimble Package, Drive Mechanisms etc. to the core of the nuclear reactor.
Some of the company’s esteemed clients are ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, among others.
The company with seven modern manufacturing facilities including an export-oriented unit with over 400 machines capable of micro-level adherence, is currently setting up facilities for roller screws, which are used as actuating mechanisms of aircrafts and missiles.
MTAR Technologies will be the first manufacturer of precision engineering roller screws in India for nuclear, defence and space segments.
MTAR, with operations in sectors with high entry barriers, currently has an order book of INR 356.5 crore and is looking to strengthen existing product portfolio and diversify into products with attractive growth and profitability prospects, enhance capabilities and grow value chains to supply critical and differentiated engineered products.
The company is also looking to expand global operations and enhance its global presence in the sectors it is currently catering to.
MTAR is also looking to enter into defence offset partnerships with certain global OEMs and has accordingly incorporated a subsidiary, Magnatar Aero Systems.
The company is looking to capitalize on the upward trend of the nuclear sector in India, increasing indigenization and policy initiatives in the defence sector, and commercialization of the Indian space sector.
Briefing About Directors & Key Managerial Personnel
In Friday’s trading session, Bank Nifty lost 4.78%, with PSU and Private Banks losing 3.97% and 4.67% respectively.
We expect intraday range could be 34,258-35,204 with sideways momentum & broader range could be expected between 33,849 to 35,616 zone for this week.
Nifty Intraday Outlook
In Friday’s trading session, Nifty experienced a bloodbath due to high selling pressure in overbought markets and also weighed by higher US bond yields.
We expect intraday range could be 14,254-14,729 with sideways momentum while broader range could be 14,048 to 14,931.
In yesterday’s trading session, Bank Nifty gained 4.03%, with PSU and Private Banks gaining 2.88% and 4.05% respectively.
We expect intraday range could be 35,974-37,082 with sideways momentum & broader range could be expected between 35,699 to 37,391 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty halted all the trades across segments due to some technical glitch. However, it ended in green, supported by the banking sector.
We expect intraday range could be 14,737-15,213 with sideways momentum while broader range could be 14,589 to 15,361.
In yesterday’s trading session, Bank Nifty lost 0.40%, with PSU and Private Banks losing 0.14% and 0.47% respectively.
We expect intraday range could be 34,612-35,567 with sideways to negative momentum & broader range could be expected between 34,311 to 35,869 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, ended in green after gaining marginally, losing its 5 day losing streak.
We expect intraday range could be 14,933-14,458 with sideways to negative momentum while broader range could be 14,302 to 15,087.
