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.
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.
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.
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.
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
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.
