WEEKLY TRENDSETTER (MARCH 18TH,2022)
| 2022 | March 4 | March 11 | Ch % |
| NIFTY | 16245 | 16630 | 2.37 |
| BANK NIFTY | 34407 | 34546 | 0.40 |
| USD/INR | 76.18 | 76.35 | 0.22 |
MARKET REVIEW–The Ukranian war was in spotlight which continued to hamper sentiments though some hopes of truce saw a decent comeback before some of the gains got erased as weekend jitters saw unwinding by traders.
INTERESTING TIDBITS
Airtel Uganda, the country’s second largest telecom company and a unit of India’s Bharti Airtel plans to list a part of its equity by the end 2022.The company renewed its operating licence in 2020, with one of the conditions for the new licence being Airtel Uganda to list at least 20% of equity on the local bourse. The company has 10 mn subscribers behind the MTN group with 15 mn subscribers.
As an interesting afterthought several MNC s like Cadbury, Philips, Alfa Lavel, OTIS, Carrier Aircon, Wartsila Diesel delisted their shares from Indian bourses in the last couple of decades. However, most of them still have access to Indian markets for selling their products/services. While regulatory requirements were the main reason for delisting, Indian investors lost out on these wealth creators.
TCS plans to double turnover before 2030
Asia’s largest software outsourcing provider gears up to double its revenues to $50 bn before 2030.The company provides a suite of services from cloud to data analytics and infrastructure management to world’s largest companies including Citigroup Inc, General Motors Co, Woolworths Group Ltd. and Petronas Gas Bhd. The company is planning to create four internal teams — a business transformation group, incubation group, enterprise growth and another aimed at new business models. Given its size the plan is clearly ambitious. However, with digital business set to accelerate the company clearly has set its sights high to ride the expected wave of opportunities.
MARKET OUTLOOK
Some technical cues are as follows going by market trends: –
NIFTY-The index saw a sharp sell off driving it below the strong 15950-16000 support. However, it saw a sharp short covering rally which took it as high as 16750 before some cooling down. FMCG and pharma which had seen some heavy selling pressure in the previous months saw some value-based buying emerging which boosted the index. For the coming week 16200 -16600 should ideally be a band.
BANK NIFTY-The index was hugely volatile and after touching a low of 32155, a strong short covering rally saw it recover its losses before closing below 34500.The index was weaker on a relative basis. For the coming week 33000-35000 should be a band within which it should trade.
SCRIPS TO WATCH OUT
Mphasis BFL (3283)-The scrip has been in a band of 2800-3200 for the last few weeks. It has seen buying emerging at lower levels. With it gradually gaining strength it could be expected to scale past its previous high of 3660 in the coming weeks. Accumulation at declines can be considered.
NMDC (157)-The scrip has been an underperformer in the past few months. However, it has seen buying emerging closer to levels of 145-47 and now looks poised to touch levels of 175-80 in the coming weeks. Accumulation at declines can be considered
Have a great trading week!
Note: Any queries /clarifications may be addressed to stockmasala@gmail.com .
Krish Subramanyam