Author: Maitri Parikh

Gold and Silver Under Pressure Due To Higher Treasury Yields

Maitri Parikh

During the previous week in the COMEX market, prices of all the base metals such as Aluminum, Copper, Iron Ore, Lead and zinc rallied for the second week in a row as the bull sentiment remained intact in the commodity markets. As for precious metals Gold and Silver are concerned, both experienced a hit during the week, with Gold and silver losing 2.4% and 0.4% respectively, closing the week at $1,773.75 and $26.95 respectively.

Gold price touched 8 months low last week, weighed by the rise in US treasury yields and a strong dollar, and the Covid-19 vaccination drive. In the Indian markets, the fall in global rates and import duty cut in Budget has pushed gold prices lower. The investors’ appetite for riskier assets seems to have increased, due to which, they are moving towards more risky asset classes such as equities. Physical gold demand in the country has increased during the past week, due to fall in the prices.

Crude oil dipped during the last week, despite a sharp fall in US crude inventories, as the selling pressure weighed on the prices due to profit booking. Expectations of higher OPEC production, due to which, the supply is expected to increase, has also pressured the oil prices.

For the current week, gold and silver prices in global and domestic markets are expected to be highly volatile as the possibility of lockdown in some states of the country may weigh on the equity markets, which might make investors incline towards safe haven asset classes such as precious metals. However, the investors also need to look after some important economic data such as Fed Chair Powell’s Testification, US oil inventories and US Prelim GDP numbers. For the week, we expect gold in COMEX market to be in the range of $1,850 to $1,700, while silver is expected to be in the range of $26.0 to $27.9. Whereas, for bullion market traders, we assume gold futures to trade in the range of 44,879 to 48,174.

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Morning Market Insight Report – 23 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In Monday’s trading session, Bank Nifty lost 1.63%, with PSU and Private Banks losing 2.65% and 1.75% respectively.

We expect intraday range could be 34,709-35,757 with sideways to negative momentum & broader range could be expected between 34,413 to 36,054 zone for this week.

Nifty Intraday Outlook

In Monday’s trading session, Nifty lost 300+ points on the fears of another wave of lockdown in some states of the country.

We expect intraday range could be 14,401-14,896 with sideways to negative momentum while broader range could be 14,259 to 15,042.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

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Morning Market Insight Report – 22 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In Friday’s trading session, Bank Nifty lost 2.04%, with PSU and Private Banks losing 4.76% and 1.55% respectively.

We expect intraday range could be 35,359-36,342 with sideways momentum & broader range could be expected between 35,004 to 36,636 zone for this week.

Nifty Intraday Outlook

In Friday’s trading session, Nifty witnessed a mini bloodbath, touching 14,900 levels during intraday session in the second half, weighed by increasing concerns over rising COVID-19 cases.

We expect intraday range could be 14,743-15,231 with sideways momentum while broader range could be 14,874 to 15,387.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

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Heranba IPO – Date, Price, Review & Details

Maitri Parikh

View – Long Term Investors Can Apply

Issue Highlights

Heranba Industries Limited is a crop protection chemical manufacturer and has planned to raise INR 625 crores through this public offer.

The issue does not include any reservation of equity shares for subscription by eligible employees.

Issue Details

Company Strengths

  • Wide range of products across the entire value chain of Synthetic Pyrethroids
  • Domestic and Global presence
  • Diversified and stable customer base
  • Strong product portfolio and wide distribution network
  • Experienced promoters with strong management team

Valuation

The company reported its EPS at 25.03 for the year ending March 2020, bringing the IPO valuation to a P/E of 25.05 at upper price band, against sector PE of 11.91.

Issue Break-Up

Utilization of Funds

Background highlights of the company in brief

Commenced in 1996, Heranba Industries Limited (Heranba) is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat. It manufacture Intermediates, Technicals and Formulations.

It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permethrin, lambda cyhalothrin etc. Its Pesticides range includes insecticides, herbicides, fungicides and public health products for pest control.

The company’s business verticals include:

  • Domestic Institutional sales of Technicals: Manufacturing and selling of Technicals in bulk to domestic companies;
  • Technicals Exports: Exports of Technicals in bulk to customers outside India;
  • Branded Formulations: Manufacturing and selling of Formulations under the company’s own brands through its own distribution network in India;
  • Formulations Exports: Export of Formulations in bulk and customer specified packaging outside India; and
  • Public Health: Manufacturing and selling of general insect control chemicals by participating in public health tenders issued by governmental authorities and selling to pest management companies.

The company’s R&D facilities at Unit I and II are recognized by the Department of Scientific and Industrial Research, Ministry of Science & Technology, Government of India (DSIR). Its new R&D facility at Unit III, Sarigam has become operational from October, 2020.

Heranba exported its products to more than 60 countries in Latin America, CIS, Middle East, Africa, Asia and South East Asia in Fiscal 2020. As of November 15, 2020, its International Distribution Partners have successfully obtained 371 registrations of its Technicals and Formulations in 41 countries across Middle East, CIS, Asia, South East Asia and Africa.

The company’s International Distribution Partners have presently filed 172 registration applications for its Technicals and Formulations products which are pending before the regulatory authorities in 41 countries. Its International Distribution Partner in Europe has already received registration for Deltamethrin Technical.

The company has more than 9,400 dealers having access to its 21 depots across 16 states and 1 union territory in India supporting the distribution of our products.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Key Ratios

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Morning Market Insight Report – 19 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty lost 0.88%, with PSU Banks gaining 5.60% and Private Banks losing 1.13%.

We expect intraday range could be 36,042-37,087 with sideways to positive momentum & broader range could be expected between 35,746 to 37,382 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty closed in red during a highly volatile session, even after recovering marginally in the end of the session.

We expect intraday range could be 14,914-15,369 with sideways to negative momentum while broader range could be 14,766 to 15,512.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

#beelinebroking #stockmarket #stocks #morningbreakfast #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #wealth #stockmarketnews #forextrading #sensex #success #nse

Morning Market Insight Report – 18 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty lost 0.51%, with PSU Banks gaining 5.86% and Private Banks losing 0.95%.

We expect intraday range could be 36,418-37,361 with sideways momentum & broader range could be expected between 36,111 to 37,653 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty closed in red after a highly volatile session, weighed by weak global cues.

We expect intraday range could be 14,956-15,409 with sideways momentum while broader range could be 14,803 to 15,568.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

#beelinebroking #stockmarket #stocks #morningbreakfast #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #wealth #stockmarketnews #forextrading #sensex #success #nse

Morning Market Insight Report – 17 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty lost 0.56%, with PSU Banks gaining 1.65% and Private Banks losing 0.45%.

We expect intraday range could be 36,536-37,648 with sideways momentum & broader range could be expected between 36,263 to 37,952 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty flat due to a selling pressure witnessed in IT and Private Banking stocks.

We expect intraday range could be 15,082-15,547 with sideways momentum while broader range could be 14,938 to 15,684.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

#beelinebroking #stockmarket #stocks #morningbreakfast #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #wealth #stockmarketnews #forextrading #sensex #success #nse

Gold and Silver Witnessed a Volatile Weekly Session

Maitri Parikh

During the previous week in the COMEX market, prices of all the base metals such as Aluminum, Copper, Iron Ore, Lead and zinc rallied as the bulls made a comeback in the commodity markets. Iron Ore rose 7.1%, Copper, Aluminum and Zinc rose by more than 3.5%, and Lead rose 2.5% as compared to the previous week’s close. As for precious metals Gold and Silver are concerned, both inched higher during the week, with Gold rising by 0.5% and silver rising by 2.0%, closing the week at $1,818.00 and $27.07 respectively. Crude oil moved up by 4% during the week on the hope that the economic recovery will result in higher oil demand.

Gold and silver prices rose 2.2% and 4.2% respectively on Tuesday, supported by optimism on further clues from the US Federal Reserve regarding the interest rates. Investors also awaited clarity on the COVID relief bill that is in process, US-China trade talks and rising US-Iran tensions. However, the precious metals lost all its gains by the end of the week, weighed by a stronger US dollar and higher US bond yields. In Indian MCX markets, the upside movement in gold and silver has been capped by optimistic view by the Reserve Bank of India in its latest monetary policy meeting regarding the India economy.

For the current week, investors needs to keep an eye on economic data such as Eurozone’s Industrial production and Trade Balance on 15th Feb, Eurozone’s Flash GDP on 16th Feb, UK’s core CPI, US’ core retail sales, core PPI, Industrial Production, FOMC Meeting minutes on 17th Feb, ECB Monetary Policy Meeting Accounts, US’ Unemployment Claims, Philly Fed Manufacturing Index, Crude Oil Inventories on 18th Feb, UK’s retail sales, Eurozone’s, UK’s and US’ Flash Services and Manufacturing PMI on 19th Feb. For the upcoming week, the correction in gold prices could help boost physical gold demand in India. Gold may continue to reflect trend in US dollar with focus on global virus situation as well as US stimulus and central bank monetary policy stance. We expect gold in COMEX market to be in the range of $1,739 to $1,897, while silver is expected to be in the range of $22.7 to $31.4. Whereas, for bullion market traders, we assume gold futures to trade in the range of 45,236 to 51,183.

Page 8, Nav Gujarat Samay Newspaper, 16 Feb 2021

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Morning Market Insight Report – 16 Feb 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty gained 3.32%, with PSU Banks and Private Banks gaining 2.32% and 3.32% respectively.

We expect intraday range could be 36,803-37,956 with sideways momentum & broader range could be expected between 36,516 to 38,248 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty ended higher on the back of positive global cues, strong buying in banks and financials, FPI inflows.

We expect intraday range could be 15,091-15,539 with sideways momentum while broader range could be 14,947 to 15,674.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

Results Calendar

#beelinebroking #stockmarket #stocks #morningbreakfast #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #wealth #stockmarketnews #forextrading #sensex #success #nse

RailTel OFS – Date, Price, Review & Details

Maitri Parikh

View – SHORT & LONG TERM INVESTORS CAN APPLY

ISSUE HIGHLIGHTS

Founded in 2000, RailTel is one of the largest neutral telecom infrastructure providers in the country. It is the 7th issue to hit the equity markets in the year. The company can raise INR 819 crores at upper price band.

The issue includes a reservation of up to INR 5,00,000 worth of equity shares (1,250 equity shares) for subscription by eligible employees

Issue Details

Strengths

  • Among the largest neutral telecom infrastructure providers in India with pan-India optic fiber network
  • Diversified portfolio of services & solutions
  • Key partner to the Indian Railways in digital transformation
  • Experience in executing projects of national importance with a robust pipeline of projects
  • Strong track record of financial performance

Valuation

The company reported its EPS at INR 4.4 per share for the year ending March 2020, bringing the IPO valuation to a P/E of 21.4 at upper price band, against sector PE of 30.4.

We recommend to apply for the issue on the basis of its strong financials and high prospects of the industry growth.

Issue Break-Up

Objects of Offer

The company will not receive any proceeds from the issue and will entirely to the Selling Shareholders.

Background highlights of the company in brief

  • RailTel Corporation, a “Mini Ratna (Category-I)” PSU is one of the largest neutral telecom infra providers in the country owning a Pan-India optic fiber network on exclusive Right of Way along Railway track.
  • RailTel was incorporated on September 26, 2000 with the aim of modernizing the existing telecom system for train control, operation and safety and to generate additional revenues by creating nationwide broadband and multimedia network, laying optical fiber cable using the right of way along railway tracks.
  • The company’s portfolio of services can be broadly classified in to Telecom Network Services (NLD Services, ISP Services), Telecom Infrastructure Services (IP-1 Services), Managed Data Center and Hosting Services (Data Centre and Managed Hosting Services, TPaaS), Projects (System Integration Services).
  • The company’s expertise includes: HD Video Conferencing Services, Data Center Services, RailWire, Leased Line, Virtual Private Network, Internet Leased Line, Managed Data Services, Consultancy Services, Rack and Space Collocation, Tower Collocation, NLD for Voice Carriage, Signaling Services.
  • RailTel has a strategic relationship with the Indian Railways and it undertakes a wide variety of projects including provision of mission critical connectivity services such as video surveillance system at stations and within trains, ‘e-Office’ services and implementing short haul connectivity between stations and long haul connectivity to support various organizations within the Indian Railways.
  • It also undertakes various passenger services including content on demand services and Wi-Fi across major railway stations in India.
  • Presently, optic fiber network of RailTel covers over 58,742 route kilometers and covers 5,848 railway stations across towns and cities in India.
  • In the past, it has undertaken various mission-mode projects for the Government of India including rolling out the National Knowledge Network, Bharat Net (formerly, the National Optical Fiber Network) and USOF funded optical fiber based connectivity project in North East India.
  • As for the telecom industry, there is likely to be a minimal impact of COVID-19 on telecom companies. The industry might have taken a small hit during the hit, which was a short-term effect due to limited availability of smartphones in the market.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Key Ratios

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