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US Stocks: Wall Street set for subdued open after Fed-driven selloff

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Wall Street’s main indexes were set for a muted open on Thursday as investors assessed the impact on U.S. economic growth from the Federal Reserve’s unwavering focus to rein in inflation through aggressive interest rate hikes.

The three main indexes finished more than 1.7% lower on Wednesday, with the Dow posting its lowest close since June 17. The Nasdaq and the S&P 500 ended at their lowest point since July 1 and June 30, respectively.

Investors fear the aggressive path could add to volatility in stocks and bonds in a year that has already seen bear markets in both asset classes and could potentially cause an economic downturn.

Goldman Sachs, Barclays and a bunch of investment banks have raised their estimates for U.S. policy rates following Fed’s hawkish message, with Societe Generale economists also projecting a mild recession in early 2024.

“There are a lot of risks at this level, but the Fed has decided that they’re going to go the Volcker way, which is to stay the course and try to nip it now,” said Eric Schiffer, chief executive of PE firm Patriarch Organization in California.

Also Read: Infosys share price hits 52-week low tracking fall in US IT stocks, tanks 28% YTD; should you buy, sell, hold?

Data on Thursday showed the number of Americans filing new claims for unemployment benefits increased moderately last week, suggesting the labor market remains tight.

“You’re not going to get unemployment to where it needs to be to get inflation in check unless (Fed) stays disciplined and there’s a period of pain in the short term for markets,” Schiffer added.

The benchmark S&P 500 is less than 4% away from its mid-June low, its weakest point of the year. Recent set of dismal outlooks from companies including FedEx Corp and Ford Motor Co have raised concerns about the health of corporate America.

“I definitely see the market testing the June lows … as indicated by the rise in the two-year yield, and the widening of the inversion of the two-year and 10-year yield curve,” said Sam Stovall, chief investment strategist at CFRA Research.

“The near-term catalyst (for the market) will be third-quarter earnings. If earnings don’t come in as bad as currently expected, that could be an initial support for the market.”

The closely watched yield curve inverted as much as minus 57.80 bps earlier in the day, the steepest inversion since June 2000, amplifying concerns about a recession in the next one to two years.

Rate-sensitive bank stocks edged higher in premarket trading, while heavyweights such as Tesla Inc, Microsoft Corp and Meta Platforms Inc were mixed.

At 8:36 a.m. ET, Dow e-minis were up 66 points, or 0.22%, S&P 500 e-minis were up 3 points, or 0.08%, and Nasdaq 100 e-minis were down 11 points, or 0.09%.Salesforce Inc rose 2.8% after the enterprise software company set its fiscal year 2026 revenue target at $50 billion.

Eli Lilly and Co gained 2.2% after the U.S. FDA approved the company’s drug Retevmo for treatment of advanced tumor and non-small-cell lung cancers.

Darden Restaurants Inc fell 3.8% after the Olive Garden parent reported downbeat first-quarter sales.

Equity investors poorer by Rs 4.90 lakh cr as Sensex tumbles nearly 2 pc

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Investors’ wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities.

The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95.

This is the third day of decline for the equity market and the BSE benchmark has fallen by 1,620.82 points or 2.71 per cent during this time.

In three days, investors wealth has eroded by Rs 6,77,646.74 crore.

“With the latest round of interest rate tinkering by the US central bank, investors have turned risk averse and are dumping shares at will. Traders are also worried about the escalation in Russia-Ukraine conflict, which is prompting them to exit equities and park funds in safe haven dollar assets,” said Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities Ltd.

Also Read: US Stocks: Futures slide more than 1% on growth concerns

Among the 30-share Sensex pack, Power Grid slumped 7.93 per cent. The other major laggards were Mahindra & Mahindra, State Bank of India, Bajaj Finserv, Bajaj Finance, NTPC, HDFC and IndusInd Bank.

Sun Pharma, Tata Steel and ITC were the only gainers.

In the broader market, the BSE midcap gauge declined 2.28 per cent and smallcap went lower by 1.92 per cent.

All the BSE sectoral indices ended in the red, with utilities tumbling 3.48 per cent, power by 3.40 per cent, realty (2.97 per cent), financial services (2.56 per cent), telecommunication (2.17 per cent), capital goods (2.06 per cent) and consumer discretionary (1.82 per cent).

“Indian equity markets witnessed a sharp fall on weekend due to weak global cues. We were outperforming but the level of 112 in the dollar index and the level of 82 in USD INR spooked the market sentiments. FIIs have started selling again in the Indian equity market therefore we are seeing selling pressure in large-cap stocks,” Santosh Meena, Head of Research at Swastika Investmart Ltd, said.

Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.

European bourses were trading in the red in mid-session deals. The US markets ended in the negative territory on Thursday.

Major output cut expectations uptick global crude prices ahead of OPEC+ meet

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Oil prices rose on Tuesday as expectations that OPEC+ may agree to a large cut in crude output on Wednesday offset concerns about the global economy. Brent crude was up 64 cents, or 0.7%, to $89.50 per barrel by 0823 GMT after gaining more than 4% in the previous session. U.S. crude futures rose 46 cents, or 0.6%, to $84.09 a barrel, having gained more than 5% in the previous session. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, is expected to cut output by more than 1 million barrels per day (bpd) at their first in-person meeting since 2020 on Wednesday, according to OPEC sources.

Also Read: Petrol, Diesel Price Today, 4 October 2022: Fuel prices unchanged; check rates in Delhi, Mumbai, other cities

OPEC+ has boosted output this year after record cuts put in place in 2020 when the pandemic slashed demand. But in recent months, the organisation has failed to meet its planned output increases, missing in August by 3.6 million bpd. The production target cut being considered was justified by the sharp decline in oil prices from recent highs, said Goldman Sachs, adding that this reinforced its bullish outlook on oil. Oil prices have dropped for four straight months as COVID-19 lockdowns in top oil importer China curbed demand while interest rate hikes and a soaring U.S. dollar pressured global financial markets.

Major central banks have embarked on the most aggressive round of rate rises in decades, sparking fears of a global economic slowdown. However, Swiss lender UBS said going into the year-end it saw several bullish factors that could send crude prices higher, including “recovering Chinese demand, OPEC+ further supply cut, the end of the U.S. Strategic Petroleum Reserve (SPR) release and the upcoming EU ban on Russian crude exports.” U.S. crude oil stocks were estimated to have increased by around 2 million barrels in the week to Sept. 30, a preliminary Reuters poll showed on Monday.

Also Read: Rupee likely to remain steady amid positive cues; USDINR pair may trade sideways in this range

Gold, equity or debt? Here’s how retail investors should plan their investment portfolio for 2021 

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By R Venkataraman

As we approach the end of a somewhat difficult year, the common question running in investors mind is where to invest in 2021. I have always insisted that it is your financial goals, investment objectives and risk profile that are key factors for making an investment decision and arriving at your strategic asset allocation. Here is my outlook for the three common asset classes for 2021.  

Having the same expectations for CY2021, however, may lead to disappointment. This is because interest rate cycle has seemed to bottomed out and scope for further rate cuts is less because of rising inflation and higher government borrowing. In such a scenario it makes sense to gradually book profits from mutual funds holding long-dated bonds like gilt and long duration funds.

Though interest rates may not fall further, they are not expected to rise any time soon either. Investors may look at corporate FDs and secondary market bonds for chasing slightly higher returns (currently 6% to 7% p.a for AAA-rated FDs & bonds). However, such investors also need to consider the credit risk involved and should not go overboard. 7.15% RBI bond is another investment offering similar returns. Regular income instruments like Senior Citizen Saving Schemes, Post Office MIS currently offers 7.4% p.a & 6.6% p.a taxable interest respectively.

However, it is Sukanya Samriddhi Scheme, PPF & for employed – EPF offering tax-free returns of 7.6%, 7.1% & 8.5% that would score higher than most of above investments on parameters of safety, returns & tax efficiency, but the catch here is liquidity. For more liquid part of the debt portfolio, consider ultra-short-term and low duration mutual funds. 

Equity Investments: Since March lows, Indian indices are up by about 80%, driven by liquidity and low-interest rates. Liquidity, on account of massive fiscal stimulus by governments all over the world and monetary stimulus by global central banks has found its way to emerging markets. After initial gains in the indices led by safety sectors such as IT, Pharma and to some extent chemicals, telecom and FMCG and large-cap quality names such as reliance, now economy-related sectors have started participating in the rally as a vaccine is just around the corner and expected economic recovery. Banks the biggest beneficiaries of economic recovery, consumer discretionary, cyclicals, industrials and energy will do well. This trend is expected to continue in CY 2021 where you may see profit booking in defensives and money moving towards more economy-related themes.

Overall sectoral rotation that we have seen so far will continue into CY2021. In such a scenario multicap or flexi cap mutual funds that have the flexibility to invest across market cap & sectors can be good option for retail investors to take exposure to equity as rally gets more broad-based.

Value investing is another theme which would play out in the beginning of the coming year. Interest Is already seen in PSU space in this regard and couple of large AMCs have also raised money through NFOs of value funds to ride this theme.

Small and Mid-caps may very well make a comeback in CY 2021 as is also evident from their recent outperformance. They have severely underperformed large-cap indices since 2017, as the economy was in a mess even before pandemic & investors were staying away from them. Beaten down quality small caps available at good valuation compared to large caps sets up the stage for their comeback in CY 2021. 

Gold Investments: As a standard asset allocation, 10% to 12% of the portfolio is usually kept in gold as a hedge against riskier investments. Sovereign Gold bonds give 2.5% returns over and above gold price appreciation at the same time long term capital gains is exempt on maturity and hence is best way to take exposure to gold compared to any other physical, electronic or paper mode of holding gold.

Gold can provide a hedge, debt can provide safety, stability and liquidity.  With equity, retail investors should follow the mutual fund SIP route or invest in direct equity only with advise from qualified professional advisors.

(R Venkataraman is the Managing Director, IIFL Securities Ltd. The views expressed are the author’s own. Please consult your investment advisor before investing.)

ONGC, Nestle among top stocks to buy, charts show strength; check Nifty’s support, resistance levels

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By Shrikant Chouhan

Indian stock market closed at the lowest point of the day on Tuesday. The market is not stabilizing at any specific level, which is an indication of some more uncertainties in the near term. The Nifty/Sensex closed below the level of 14500/48300 that would keep open the possibilities of hitting 14400/14370 (48000/47900) levels, however, it is crucial for the market to close above the levels of 14450/48100 to maintain the upward bias. On the higher side, 14600/48500 and 14750/48900 would be the main obstacles. Today, although there was some profit-taking seen in the PSU stocks on Tuesday, we feel they can easily attract follow up buying in the next couple of sessions.

On the monthly chart, it is observed that post its drop from the highs of 180 the stock went into a correction phase, however, the stock reversed after forming the strong base at its demand zone and started trading in an upward channel. Additionally current range breakout with incremental volume activity on the daily chart indicates the stock has good potential for further upside.

Canara Bank BUY, CMP: Rs 141.35, TARGET: Rs 150, SL: Rs 136

For the last two months, the stock has been in a downward channel after hitting the double top chart pattern at around 172, and thereafter it found support at its previous lows and reversed sharply by forming a hammer candlestick pattern. Moreover the recent formation of the Cup and Handle chart pattern on the daily time frame with rising volumes indicates bullish movement in the near term is very likely to persist.

Nestle India BUY, CMP: Rs 16,546.6, TARGET: Rs 17,400, SL: Rs 16,200

For the last few days the stock was trading in a lower top and lower bottom series chart formation and eventually the downward move took a pause at the rising trend line and it seems that the bulls got into action, further the technical oscillator stochastic indicates trend reversal as it is signaling the oversold condition of the counter.

Cummins IndiaBUY, CMP: Rs 845.3, TARGET: Rs 890, SL: Rs 825

Strong reversal formation is evident from the multiple support area of 820, inverted hammer candlestick formation followed by star pattern on the weekly scale hints at bullish momentum in the counter incoming horizon.

(Shrikant Chouhan is Executive Vice President (Equity Technical Research), Kotak Securities. Views expressed are the author’s own.)

Ontario fund buys 30% in Mahindra arm for Rs 711 cr

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Canada-based Ontario Teachers’ Pension Plan Board (OTPP) will buy a 30% stake in Mahindra Group’s renewable energy platform – Mahindra Susten – for `711 crore.

The parties have signed binding agreements pursuant to which Ontario Teachers’ will buy the Mahindra Susten stake at an equity value of Rs 2,371 crore.

The platform – Mahindra Susten – includes renewable engineering, procurement and construction businesses with capacity constructed of over 4 GWp and an independent power producer business with about 1.54 GWp of operational solar plants. OTPP is a global investor with net assets of C$242.5 billion.

Also Read: US Stock Market Investment from India: How to start, which funds to buy – All your questions answered

The companies will also set up an Infrastructure Investment Trust (InvIT), including renewable power assets seeded by MSPL with operational capacities of about 1.54 GWp, by FY24, Mahindra said in a regulatory update.

“This transaction will enable Mahindra Susten to build a strong renewable energy business focused on solar energy, hybrid energy, integrated energy storage and round-the-clock green energy plants,” it said.

Consequent to the stake sale, Mahindra Susten would cease to be a wholly-owned subsidiary of Mahindra Holdings. However, with the latter holding more than 50% of equity share capital, the platform would continue to be a subsidiary.

As part of the transaction, shareholder loans of Rs 575 crore advanced by Mahindra Group to the platform would also be repaid. Following the deal, Mahindra Group will receive about Rs 1,300 crore (sale of 30% stake and repayment of loans).

Mahindra will deploy Rs 3,050 crore (Rs 1,300 crore from the stake sale and an additional Rs 1,750 crore) into the business and InvIT over the next seven years. On its part, Ontario Teachers will infuse an additional amount of up to Rs 3,550 crore during the same period.

Mahindra will also sell an additional 9.99% stake in Mahindra Susten to any investor, or 2OL, by May 31, 2023, based on mutually agreed considerations, the statement added.

“The partnership with Ontario Teachers’ will enable the Mahindra Group to unlock value in the renewable energy sector with continued joint investments towards accelerated growth. Mahindra Group aims to be Planet Positive by 2040 and the continued inflow of patient, long-term capital in our climate positive businesses is validation of our commitment to be a global Environmental, Social and Governance leader,” Puneet Renjhen, member of Group Executive Board and executive vice president, EVP, Partnerships & Alliances at the Mahindra Group, said.

Avendus Capital was the financial advisor and Khaitan & Co the legal advisor to the Mahindra Group, while Ambit was the financial advisor and Cyril Amarchand Mangaldas the legal advisor to Ontario Teachers’ for the transaction.

“As part of our climate change strategy, we have committed to continue growing our portfolio of green assets around the globe with investments like Mahindra Susten. This strategic partnership marks the beginning of what we hope will be a long-term and mutually beneficial relationship with the Mahindra Group,” Bruce Crane, senior managing director, Asia Pacific, Infrastructure & Natural Resources at Ontario Teachers, said.

As per the updated Nationally Determined Contributions of the United Nations Framework Convention on Climate Change, India has committed to reduce emissions intensity of its GDP by 45% by 2030 from its 2005 levels, and achieve about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. These are steps towards achieving India’s long-term goal of reaching net-zero by 2070, which will give a fillip to the renewable industry in the country.

Torrent Pharmaceuticals Rating: Buy | Deal could be marginally value accretive

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Torrent Pharma LAST week announced that it has entered into a definitive agreement with shareholders of Curatio to acquire a 100% stake in the company for an EV of Rs 18.85 bn. Curatio, primarily a cosmetic derma company established in 2005, achieved turnover of Rs 2.24 bn in FY22. The acquisition valuation of 8.4x EV/sales and 30.5x EV/Ebitda (FY22) is higher than for most recent acquisitions in the domestic pharma market (typically 3-4x EV/sales). The company expects to extract sales and cost synergies from the acquisition like it did in earlier deals with Unichem and Elder pharma.

Curatio recorded revenue CAGR of 16.9% over FY16-22, with consistent improvement in Ebitda margin. Management commentary suggests that it expects healthy double-digit revenue growth to sustain in the near term and Ebitda margin to reach the ~40% level in the medium term. Strategically, the acquisition expands TRP’s presence in derma (particularly cosmo derma segment) and provides a platform to build an OTC business over time.

The acquisition will be EPS dilutive by 5-10% over the next three years, as per our estimates. On valuation upside we are neutral here. Given high valuation paid, it is difficult to expect significant value accretion from the deal at this stage, particularly on TRP’s high market cap compared to when it did its earlier acquisitions. The deal could still be marginally value-accretive. We don’t expect any material value destruction as the branded business presents scope for steady growth with price increases and the acquisition is debt funded without causing any balance sheet stress.

Our current estimate for TRP don’t factor in contribution from the Curatio acquisition.

The acquisition may be completed in a month. We have a Buy rating on the stock with a target price of Rs 1,782 based on 17.5x one-year-forward Ebitda (Sep-24 Ebitda). At the current price the stock is trading at 19.1x and 15.8x FY23F/24F Ebitda and 35.3x/ 29.1x/24.4x FY23F/24F/ 25F EPS of Rs 43.4/Rs 52.7/Rs 62.3.

Curatio: Player in cosmetic derma segmentCuratio was established in 2005 by executives of American Remedies, which was merged with Dr Reddy’s in 2001. Curatio primarily focuses on derma segment, particularly in cosmo derma segments. The company clocked revenues of Rs 2.24 bn in FY22. Derma and cosmetic derma in particular contributed 95% and 80% of the sales, respectively. The cosmetic derma market is at Rs 36 bn (MAT Aug 2022) and recorded a CAGR of 16% over the past 10 years, according to the company. This compares to an IPM CAGR of 10% over the period.

Pediatric products (products for babies and children) accounted for ~60% of the sales in FY22. The other key segments are Acne/Face care and Hair/Scalp care, which accounted for ~20% and ~12% of FY22 sales, respectively. The company has a portfolio of ~50 brands, with the top five and ten brands accounting for ~Rs 60% and ~75% of sales, respectively.

Acquisition valuationTorrent will acquire Curatio for Rs 18.85 bn, thus valuing the company at 8.4x EV/sales and 30.5x EV/Ebitda on FY22 sales and Ebitda of Rs 2.24 bn and Rs 600mn, respectively.

Sanjiv Bhasin’s top trading ideas for next quarter: Bet on select IT, bank stocks as yields rise | INTERVIEW

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Indian share market benchmarks BSE Sensex and Nifty 50 have tumbled over 7 per cent from the all-time highs touched in mid-February 2021. Markets have been reeling under pressure due to rising US 10-year bond yields. Sanjiv Bhasin, Director, IIFL Securities Ltd, told Surbhi Jain of Financial Express Online in an interview that higher yields will help banks to lead the gainers pack, while technology stocks on Nasdaq will witness profit booking. He said that the Nifty 50 index may find support around 14,300-14,350 amid volatility, while it will face resistance at the 15,200 level. Sanjiv Bhasin shared a few trading ideas for the coming first quarter of the next financial year. Here are edited excerpts from the interview:

1. Amid current market scenario, what are your support and resistance levels for Nifty 50 and Bank Nifty in the near to medium term?

2. Spike in US bond yields spooked investor sentiment. What should be investors’ strategy? Should they use it as an opportunity, be cautious or wait for the further downside?

There are inflationary expectations that have seen bond yields spiked in the US. Also, the large US$1.9 trillion stimulus will see huge borrowing by the Federal Reserve. This is to be taken with a pinch of salt as short term there can be the repatriation of risk on money back in the US. But in the medium-term, it indicates the growth momentum is very strong which shows US banks come out of 3 years of low yields and now will reap the benefits of higher yields which will see banks lead the gainers while technology stocks on the Nasdaq see profit booking. Emerging markets have already seen profit booking but financials will see huge outperformance as higher yields will see more margins with this being a great opportunity to diversify into banks and NBFCs from select IT and digital plays.

3. What are your top trading ideas for the April-June quarter of new fiscal?

The top trading ideas for the first quarter of the new fiscal year are State Bank of India (SBI), ICICI Bank, Godrej Properties Ltd, HCL Technologies, Sun Pharmaceutical Industries and Bandhan Bank.

4. What should investors do with PSU stocks on divestment hope?

PSU stocks are a great play, as after four years of non-performance now look set to outperform in 2021. The top PSU stock picks are BHEL (Bharat Heavy Electricals Ltd), BEML Ltd, Container Corporation of India Ltd (CONCOR), NBCC (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).

5. Besides, grey market premium, people look at IPO subscription status, is it enough to ascertain listing gains?

This has been the recent elephant in the room with a beeline to buy on listing for quick returns, with most having burnt their fingers. Returns disappear as fast as they came with select new listings seeing too much froth–Be watchful.

Rupee likely to trade with negative bias next week amid continued FII outflow from domestic equity markets

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By Raj Deepak Singh

The Indian rupee depreciated this week to a new all-time low and touched 82.2875 level amid continued FII outflow from domestic equity markets. However, rupee found some support after the Reserve Bank of India raised its key repo rate by 50 basis points to 5.90% and appreciated towards 81.50. The dollar index also dropped by almost 1.00% after touching a fresh two-decade high at 114.77 last week after the Bank of England conducted bond buying to stabilize financial markets, which triggered profit booking in the US dollar after the recent rally. Further, dollar was pressurised after German Chancellor Olaf Scholz set out a 200 billion euro ($194 billion) package to protect companies and households from the impact of soaring energy prices.

We expect the US dollar to depreciate further in the coming week and break the level of 111.00 to touch 110.40 level amid expectations of a drop in US 10-year treasury yields. We expect rupee to trade with a negative bias next week amid continued FII outflow from the domestic equity markets. Further, rupee may be pressurised by rise in crude oil prices. Moreover, Investors will keep an eye on ISM manufacturing PMI, services PMI, nonfarm payrolls, and unemployment rate data from the US. US unemployment data is expected to remain unchanged at 3.7%

USDINR traded in upward resistance and support wedges and broke resistance wedge to start a new upward trend towards the all-time high of 82.2875. The pair is expected to continue trading in upward trend towards the level of 82.50 after breaking the key resistance level of 82.22 in the coming week. It may consolidate between 82.00 to 82.22 levels before breaking 82.22 level to touch 82.50 level.

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Also Read: Sensex, Nifty snap 7-day losing streak after RBI hikes repo rate; Nifty eyes 17700 with support at 16850

For Monday Rupee may appreciate amid weakness in us dollar index. Further, rupee may be supported by rise in interest rate by RBI from 5.40% to 5.90%. Moreover, investors will focus on ISM manufacturing data from the US, which is expected to remain unchanged at 52.8. USDINR (Sep) is likely to trade towards the level of 81.35.

(Raj Deepak Singh is an Analyst – F&O, Currency, and Commodities at ICICIdirect. The views expressed are the author’s own. Please consult your financial advisor before investing)

Dhouhani Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

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Dhouhani MP Assembly Election 2023 Details: The election for Dhouhani Assembly Constituency in Madhya Pradesh will be held on November 17 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Dhouhani Constituency Assembly Election 2023 that you should know.

Dhouhani Constituency Madhya Pradesh Assembly Election 2023: Voting Date

November 17 is the date of voting for the Dhouhani Assembly Constituency Election 2023 as announced by the Election Commission of India.

Dhouhani Constituency Madhya Pradesh Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Dhouhani Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Dhouhani Constituency Assembly Election 2023 is Important

Dhouhani is a state Assembly/Vidhan Sabha constituency in the state of Madhya Pradesh and is part of the Dhouhani Lok Sabha/Parliamentary constituency. Dhouhani falls in the Dhouhani district of Madhya Pradesh and is categorised as an urban seat.

Dhouhani Constituency MP Election Result: What happened in 2018

Kunwar Singh Tekam of the Bharatiya Janata Party was the winning candidate from the Dhouhani constituency in the MP Assembly elections 2018, securing 57995 votes while 54202 votes were polled in favour of Kamlesh Singh of the Indian National Congress. The margin of victory was 3793 votes.

2018 Dhouhani Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesKunwar Singh TekamBharatiya Janata Party57995

Candidate List Party Name Votes Gained (Vote %) Kunwar Singh Tekam Bharatiya Janata Party 57995 (35.85%) Kamlesh Singh Indian National Congress 54202 (33.5%) Rupnarayan Singh Poya Gondvana Gantantra Party 19457 (12.03%) Awadh Pratap Singh Bahujan Samaj Party 9062 (5.6%) None Of The Above None Of The Above 2810 (1.74%) Rajendra Kol Independent 2485 (1.54%) Mahipal Singh Independent 2440 (1.51%) Comread Balraj Singh Communist Party Of India (marxist) 2224 (1.37%) Revti Singh “maravi” Independent 1974 (1.22%) Dharvend Baiga Shiv Sena 1871 (1.16%) Girdhari Baiga Aam Aadmi Party 1747 (1.08%) Kamalsay Panika Bhartiya Shakti Chetna Party 1589 (0.98%) Anurag Singh Peoples Party Of India (democratic) 1116 (0.69%) Deepak Kumar Panika (bhaiyaji) Independent 1003 (0.62%) Dr Ajay Pratap Mauriya Sanjay Sapaks Party 918 (0.57%) Gulbasiya Devi W/o Late Rangdev Singh Independent 893 (0.55%)

Dhouhani Constituency MP Election Result: What happened in 2013

Kunwar Singh Tekam of the Bharatiya Janata Party was the winning candidate from the Dhouhani constituency in the MP Assembly elections 2013, securing 60130 votes while 41129 votes were polled in favour of Tilakraj Singh Uike of the Indian National Congress. The margin of victory was 19001 votes.

2013 Dhouhani Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesKunwar Singh TekamBharatiya Janata Party60130

Candidate List Party Name Votes Gained (Vote %) Kunwar Singh Tekam Bharatiya Janata Party 60130 (42.45%) Tilakraj Singh Uike Indian National Congress 41129 (29.04%) Dr Raj Bahadur Singh Markam Bahujan Samaj Party 16220 (11.45%) Rudra Pratap Singh Markam Gondvana Gantantra Party 8127 (5.74%) None Of The Above None Of The Above 3929 (2.77%) Shripal Singh Independent 2358 (1.66%) Comred Balraj Singh Communist Party Of India (marxist) 2232 (1.58%) Dr Ajay Pratap Mauria Sanjay Independent 1844 (1.3%) Heeralal Singh Gond Bhartiya Shakti Chetna Party 1265 (0.89%) Heera Singh Poya National People’s Party 1053 (0.74%) Puspraj Singh Shyam Independent 959 (0.68%) Brij Lal Baiga Lok Jan Shakti Party 879 (0.62%) Revti Singh Akhil Bhartiya Gondwana Party 770 (0.54%) Manohar Singh 756 (0.53%)