In yesterday’s trading session, Bank Nifty lost 0.54%, with PSU and Private Banks losing 0.03% and 0.40% respectively.
We expect intraday range could be 32,003 to 32,951 with sideways momentum & broader range could be expected between 31,692 to 33,248 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty closed almost flat, weighed by the fears of lockdown in some parts of the country.
We expect intraday range could be 14,431-14,884 with sideways momentum while broader range could be 14,277 to 15,092.
In the previous week, base metals witnessed a
steep fall in the prices, with aluminum and copper falling by approximately 2%
each and zinc lost 1.5%. However, lead witnessed net buyers during the week,
and managed to close in green, snapping the losses of past two weeks, gaining
0.2%. As far as precious metals are concerned, gold and silver continued their
downtrend, by losing 0.7% and 3.0% respectively during the week.
The prices of precious metals took a hit during
the week as a surge in vaccine roll-outs all over the world has lifted the
investors’ sentiments. Moreover, surge in US bond yields and a stronger dollar
also weighed gold and silver prices. However, the losses were capped after the
US President Joe Biden announced ‘”once-in-a-generation” infra
investment plan of more than USD 2 trillion in transportation, telecoms and
energy infrastructure, which had a positive impact on gold prices as it is
often considered as hedge against inflationary pressure.
Brent prices rose during past week, after the
release of lower US crude oil inventories data and on the hopes that the OPEC+
members will maintain the production cut till May. However, in the current
week, the prices have started to fall after the OPEC+ agreed last week to
gradually ease production curbs by 350,000 barrels per day (bpd) in May,
another 350,000 bpd in June and further 400,000 bpd or so in July.
For the current week, we expect the gold and
silver prices to trade in sideways to positive trend supported by weak equity
markets ahead of COVID-19 fears. The prices of precious metals might also be
supported by the inflationary pressure in the US markets due to infra
investment plan unveiled by the US government.
For the week, we expect gold in COMEX market to be in the range of $1,672 to $1,821, while silver is expected to be in the range of $23.7 to $25.4. Whereas, for bullion market traders, we assume gold mini futures to trade in the range of 44,698 to 46,197.
In yesterday’s trading session, Bank Nifty lost 3.48%, with PSU and Private Banks losing 2.63% and 4.10% respectively.
We expect intraday range could be 32,165 to 33,179 with sideways momentum & broader range could be expected between 31,853 to 33,487 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty closed in red, weighed by the fears of COVID-19 situation across the country.
We expect intraday range could be 14,376-14,888 with sideways momentum while broader range could be 14,229 to 15,041.
In Thursday’s trading session, Bank Nifty gained 1.66%, with PSU and Private Banks gaining 2.63% and 1.85% respectively.
We expect intraday range could be 33,449 to 34,358 with sideways momentum & broader range could be expected between 33,037 to 34,661 zone for this week.
Nifty Intraday Outlook
In Thursday’s trading session, Nifty rallied and closed in green, supported by the positive global cues.
We expect intraday range could be 14,666-15,118 with sideways momentum while broader range could be 14,459 to 15,271.
Macrotech Developers (Lodha Developers) is one the largest real estate developers in India and is all set to hit the primary markets with a goal to raise around INR 2,500 Crores through the public offer.
This is the third attempt of the company
to launch the issue.
Equity shares worth INR 30 Crs are reserved for eligible employees.
Issue Details
Strengths
One of India’s largest residential real estate developers
Well established brand & premium pricing
Proven end-to-end execution capabilities with continuous innovation
Strong focus on sustainable development
Diversified portfolio across price points
Significant inventory of completed, ready-to-move units
Unique ability to develop townships
Innovative marketing and sales strategies
High quality management team
Valuation
The company is getting listed at a PE of 26.3 on the basis of FY 20 EPS, at upper price band, against sector PE of 25.34. It is fairly priced.
Issue Break-Up
Utilization of Fresh Issue Funds
Background highlights of the company in brief
Macrotech Developers Ltd, formerly known as Lodha Developers is involved in the real estate business since 1986. It is one of the largest real estate developers in India, by residential sales value for the financial years 2014 to 2020.
The company’s core business is residential real estate developments with a focus on affordable and mid-income housing. Currently, it has residential projects in the MMR and Pune, and in 2019 it forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte. Limited (“ESR”).
It also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.
The company’s brands include “Lodha”, “CASA by Lodha” and “Crown – Lodha Quality Homes” for its affordable and mid-income housing projects, the “Lodha” and “Lodha Luxury” brands for its premium and luxury housing projects, and the “iThink”, “Lodha Excelus” and “Lodha Supremus” brands for its office spaces.
Its in-house sales team is supported by a distribution network of multiple channels across India as well as key non-resident Indian (“NRI”) markets, such as the Gulf Cooperation Council, United Kingdom, Singapore and the United States.
Its large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road).
The company’s premium and luxury housing projects include Lodha Park (Worli), Lodha World Towers (Lower Parel), Lodha Venezia (Parel) and New Cuffe Parade (Wadala). In addition, it also has a few projects under the “Lodha Luxury” brand, which comprise small-scale, high-value developments such as Lodha Altamount (Altamount Road), Lodha Seamont (Walkeshwar) and Lodha Maison (Worli).
As part of logistics and industrial park portfolio, it has planned to develop a logistics and industrial park of over 800 acres of land near Palava, which is strategically located near the Jawaharlal Nehru Port, the proposed international airport in Navi Mumbai and the industrial hub of Taloja.
Briefing about directors & key managerial personnel
In Friday’s trading session, Bank Nifty gained 0.94%, with PSU and Private Banks gaining 0.80% and 0.83% respectively.
We expect intraday range could be 32,923 to 33,718 with sideways momentum & broader range could be expected between 32,501 to 34,109 zone for this week.
Nifty Intraday Outlook
In Friday’s trading session, opened gap up and then traded almost in a stipulated range as the traders remain undecided of the trend.
We expect intraday range could be 14,312-14,707 with sideways momentum while broader range could be 14,111 to 14,899.
During the previous week, both the benchmark
indices, Nifty and Sensex witnessed a bloodbath, as they nosedived to touch the
low levels of 14,350 and 48,586 last Friday. India VIX also witnessed a highly
volatile session, making the lows of 16.68 and highs of 23 during the week.
The equity markets witnessed a steep fall as
the investors were concerned about increasing daily cases of COVID-19 with new
variants throughout the country. The situation lead to uncertainty regarding
lockdown in several parts of the country, after the Maharashtra government
announced a complete lockdown in some cities till a stipulated date. A part
from that, mixed cues from Asian peers which saw volatility owing to rising
bond yields and uncertainty around inflation also weighed the markets. The fall
in the value of the Turkish Markets after the firing of the central bank
governor, also had an impact on Indian markets and added to the volatility.
As far as sectoral indices are concerned, almost
all the indices ended in red during the week, except for Nifty Pharma (+2.1%),
Nifty IT (+0.9%) and Nifty Realty (+0.7%). Nifty Media and Nifty Metal lost
more than 3% each, Nifty Financial Services, Nifty Private Bank and Nifty Auto
fell by more than 2% each, Nifty PSU Bank and Nifty Energy fell by more than 1%
each during the week.
There was a fall of 5.1% in March Series, the second highest after a fall of around 6% in the September Series. Technically, Nifty needs to sustain above the levels of 14,490 to indicate bullish trend and we may see it nearing the levels of 15,500 in the near future. However, if the indices breaks the levels of 13,900 and sustains below that, then it confirms a bearish trend.
In yesterday’s trading session, Bank Nifty lost 0.86%, with PSU and Private Banks losing 2.58% and 0.78% respectively.
We expect intraday range could be 32,501 to 33,406 with sideways momentum & broader range could be expected between 31,997 to 33,716 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty witnessed a highly volatile session, with India VIX touching 22.7 during the session.
We expect intraday range could be 14,071-14,524 with sideways momentum while broader range could be 13,819 to 14,732.
In yesterday’s trading session, Bank Nifty lost 2.61%, with PSU and Private Banks gaining 3.30% and 2.56% respectively.
We expect intraday range could be 32,789 to 33,639 with sideways momentum & broader range could be expected between 32,491 to 34,104 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty witnessed a steep fall ahead of lockdown fears in some parts of the country.
We expect intraday range could be 14,347-14,699 with sideways momentum while broader range could be 14,132to 14,951.
In yesterday’s trading session, Bank Nifty gained 1.73%, with PSU and Private Banks gaining 2.91% and 1.73% respectively.
We expect intraday range could be 33,777 to 34,584 with sideways to positive momentum & broader range could be expected between 34,081 to 34,892 zone for this week.
Nifty Intraday Outlook
In yesterday’s trading session, Nifty ended in green after a highly volatile session, recovering all the losses of the first half of today’s trading session.
We expect intraday range could be 14,602-15,014 with sideways to positive momentum while broader range could be 14,459 to 15,167.
