Market View 18th August 2022

View on market: Stay Cautious, be with quality business:

Asian equities and US futures declined as investors digested uncertainty in the Chinese economy. The US Federal Reserve minutes hinted at the need for delicate balancing act to tackle inflation while reducing the chances of a recession, simultaneously. Equities fell across Japan, South Korea and Australia after US markets logged losses for the first time in four days. At 6:27 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.09% lower at 17,952 points. Crude oil retreated while gold advanced and Bitcoin was little changed.

Economic Calendar:

• USD : Initial Jobless Claims 18^th Aug, 2022
• USD : Philadelphia Fed Manufacturing Index (Aug) 18^th Aug, 2022
• INR : FX Reserves, USD 19^th Aug, 2022
• INR : GDP Quarterly (YoY) (Q1) 31^st Aug, 2022

Who’s Meeting Whom:

FSN E-Commerce Ventures: To meet investors and analysts on August 19, August 20, and August 24.

Kajaria Ceramics: To meet investors and analysts on August 23.

P I Industries: To meet investors and analysts on August 18.

Cummins India: To meet investors and analysts on August 19.

Fairchem Organics: To meet investors and analysts on August 22.

Coal India: To meet investors and analysts on August 22.

Brokerage Radar:

JEFFERIES ON ICICI BANK: Maintain Buy, TP Rs 1,100; Rural lending could be next focus area; Strong deposit franchise & ALM conservatively positioned for higher rates; FY22 profit growth aided by improved asset quality; Expect co to deliver 17% CAGR in profit over FY22-25 & ROE of 16%

JEFFERIES ON FINOLEX CABLES: Maintain Buy, TP Rs 600; Q1FY23 PAT a beat to our estimates, margin improved despite copper volatility; Broadly retain EPS estimate, believe current volatility in key commodities warrants caution; Over FY22-25E, Co Sales/PAT at +14%/16% CAGR; Maintain target PE at 16x, broadly in-line with stock’s historical 5-yr average multiple; A key monitorable is the family tussle within the Finolex Group; Forecast +13% Sales CAGR over FY22-25

International Markets:

U.S & Europe:

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Sona BLW: Blackstone to sell 10.87% stake in block trade. Upsize option of 1.58 crore shares representing 2.72% stake. Floor price set at Rs 500 apiece, a 7.3% discount on Wednesday’s closing price. The total deal would fetch Blackstone Rs 3,971.7 crore (calculated at floor price).

ONGC: has signed Heads of Agreement with ExxonMobil for deep water exploration in Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.

Natco Pharma: received tentative approval from the U.S. FDA for Trabectedin for Injection (generic for Yondelis) for the 1mg/vial presentation.

Indo Amines: has received an environment clearance for expansion of ‘synthetic organic chemical’ for its manufacturing plants in Thane and Dhule, Maharashtra.

Reliance Industries: Jio adds net 4.22 million mobile subscribers in June: TRAI

Bharti Airtel: Adds net 7,93,132 mobile subscribers in June: TRAI

Vodafone Idea: Loses net 1.8 million mobile subscribers in June: TRAI

Gail India: board has approved additional fund raising of $3.125 billion via external commercial borrowing and up to Rs 25,000 crore via non-convertible debentures.

Kilburn Engineering: RBL Bank sold 2.2 million shares of KEL in two blocks: BSE

Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 97,000 shares between August 12 and August 16.

Coffee Day Enterprises: Promoter V.G.Siddhartha invoked a pledge of 36.63 lakh shares on August 6.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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