Indian Market Outlook:
The Key benchmark indices fell over 1 percent over the week led by weak global cues and FII Selling. On Wednesday this week the United States’ Labor Department reported that retail inflation had spiked to 6.2 per cent in October. Nifty ended the week with 1.87 percent Lower at 17765 points while the Sensex ended with 1.73 percent higher at 59,636 points. Selling in metals, energy, realty, PSU bank dragged the Nifty and BSE Sensex below 18,000 and 60,000. Broader market too fell with the key benchmark indices during the week. BSE Midcap index ended 1.71 percent higher, while the BSE Small cap index fell 1.49 percent. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs. 4411 crores while the DIIs were the net buyers of Rs. 3926 of crores. Bank Nifty was the underperformer during week fell over 1.9 percent. In a weak stock market debut on Thursday, Paytm’s shares plunged as much as 28 percent. Ahead of the listing brokerage Macquarie assigned a target price of Rs 1,200 for the stock, a level that is 44% lower than the offer price. Going forward, on Monday reaction would be seen in Reliance shares as Reliance Industries Ltd (RIL) and Saudi Aramco on Friday decided to re-evaluate the proposed Investment by Aramco in the oil-to-chemical (O2C) business. As the economy reopens, investors are reallocating their money, idle money flowing into the market so far will now move to real consumption in terms of discretionary spends, travel.
Latest Spot Price (in US $)
| Precious Metal | Current Price | Change (%) | 3 Month | 6 Month | 1 Year | |||||
| Gold | 1851.6 | -0.90 | 5.02 | 1.85 | -5.88 | |||||
| Silver | 24.78 | -2.25 | 1.85 | -11.21 | -3.17 | |||||
| Platinum | 1035.2 | -4.97 | 6.27 | -13.32 | 15.55 | |||||
| USD/INR | 74.35 | 0.01 | 0.15 | 1.02 | 0.60 | |||||
| Crude | 76.1 | -5.81 | 11.45 | 17.60 | 96.18 | |||||
Global Weekly Events
| Date | Region | Event Description | Forecast | Previous |
| Nov 22,2021 | CNY | PBoC Loan Prime Rate | – | 3.85% |
| Nov 22,2021 | GBP | Composite PMI (Oct) | 54.1 | 54.1 |
| Nov 22,2021 | USD | Existing Home Sales (Oct) | 6.20M | 6.29M |
| Nov 24,2021 | USD | GDP (QoQ) (Q3) | 2.1% | 2.0% |
| Nov 24,2021 | USD | Initial Jobless Claims | – | 268K |
| Nov 24,2021 | USD | New Home Sales (Oct) | 800K | 800K |
Domestic Economy Indicators
| Heading | Indicators | Current | Previous |
| RBI Policy Rate | Policy Repo Rate | 4.00% | 4.00% |
| Reverse Repo Rate | 3.35% | 3.35% | |
| Bank Rate | 4.25% | 4.25% | |
| Reserve Ratio | CRR | 4.00% | 4.00% |
| SLR | 18.00% | 18.00% | |
| Inflation Rate | Wholesale Price Index | 12.54% | 10.66% |
| Consumer Price Index | 4.48% | 4.35% | |
| Trade Data | Export ($ Million) | 35650 | 33790 |
| Import ($ Million) | 55370 | 56390 | |
| IIP | 3.1% | 11.9% |
| Domestic Indices | Closing (18th
Nov) |
Change | %Change |
| BSE Sensex | 59,636.01 | -1,050.68 | -1.73 |
| Nifty | 17,764.80 | -337.95 | -1.87 |
| Mid Cap | 25,918.62 | -450.16 | -1.71 |
| Small Cap | 28,798.23 | -434.30 | -1.49 |
| Bank Nifty | 37,976.25 | -757.10 | -1.95 |
| Global Indices | Closing (19th Nov) | Change | %Change |
| Dow Jones | 35,602.18 | -498.19 | -1.38 |
| Nasdaq | 16,057.40 | 196.40 | 1.24 |
| FTSE | 7,223.57 | -124.34 | -1.69 |
| Nikkei | 29,745.87 | 135.90 | 0.46 |
| Hang Seng | 25,049.97 | -278.00 | -1.10 |
| Shanghai Com | 3,559.99 | 20.89 | 0.59 |
| Net Inflow (Cr) | FII | DII |
| 15-Nov-2021 | 424.74 | 1,524.67 |
| 16-Nov-2021 | -560.67 | 577.34 |
| 17-Nov-2021 | -344.35 | -61.14 |
| 18-Nov-2021 | -3,930.62 | 1,885.66 |
| Total | -4410.9 | 3,926.53 |
| Top Gainers | Closing Price | Prev Close | Chg (%) |
| Maruti Suzuki | 8117.15 | 453.45 | 8.90 |
| PowerGrid Corp. | 192.50 | 182.15 | 5.68 |
| Asian Paints | 3226.85 | 3063.50 | 5.33 |
| ITC | 237.50 | 230.00 | 3.26 |
| Tech Mahindra | 1567.75 | 1521.95 | 3.01 |
| Top Losers | Closing Price | Prev Close | Chg (%) |
| Indiabulls Hsg. | 216.05 | 236.9 | -8.80 |
| Tata Steel | 1186.6 | 1299.6 | -8.69 |
| Coal India | 153.4 | 167 | -8.14 |
| GAIL India | 140.95 | 149.5 | -5.72 |
| Bajaj Auto | 3547.55 | 3749.95 | -5.40 |
Source: Investing, NDTV, BSE, CNBCTV18, Moneycontrol,
Economic News:
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India could be eyeing a significant revamp of the goods and services tax (GST) structure as the regime completes five years in July next year when compensation to states is set to come to an end. Tax slab restructuring and reducing exemptions could be considered in the most comprehensive makeover of the single tax that was rolled out on July 1, 2017. The new regime may have just three major tax rates covering most of the items against four now – 5%, 12%, 18% and 28%. The recast will seek to simplify the regime as well as lift revenue.
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The withdrawal of farm laws could impact sourcing and expansion plans and dash industry’s hopes of cheaper input costs, said executives belonging to food processing companies, while describing Friday’s development as a setback. “The farm laws were good for small and big farmers, and would have definitely been good for companies like ours, but unfortunately, they could never get implemented in full measure,” said Angshu Mallick, chief executive officer and managing director of one of the country’s largest packaged and branded edible oil players Adani Wilmar.
Industry News:
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For the first time since the onset of the Covid-19 pandemic last year that ravaged the hospitality sector, average occupancies for the Indian hospitality sector could reach the 60-65% mark this month. Occupancies for top chains are likely to be well above this mark. Hotel chains said they are hoping for a “phenomenal” performance, backed by a declining number of Covid cases and fewer restrictions across states.
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The value of loans sanctioned by non-banking financial companies (NBFCs) rose 17% on a year-on-year (y-o-y) basis in Q2FY22, but remained below the amount of sanctions made in the comparable quarter of FY20. A data sheet released by industry association Finance Industry Development Council (FIDC) showed that NBFCs sanctioned loans worth Rs 2.17 lakh crore during the quarter ended September 2021, down 9% from the value of sanctions made in Q2FY20.
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The Maharashtra government has slashed excise duty on imported scotch whiskey by 50 per cent to bring its price on par with that in other states, a senior official said here on Friday. “The excise duty on imported scotch whiskey has been brought down from 300 per cent to 150 per cent of the manufacturing cost,” the official told PTI.
Company News:
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ABB Power Products & Systems India on Friday announced its rebranding as Hitachi Energy India Ltd. “Following the recent rebranding of its parent company to Hitachi Energy, its operations in India today announced their evolution to ‘Hitachi Energy India Limited’, reaffirming their commitment to accelerating the clean energy transition in India,” a company statement said. Formerly known as ABB Power Products & Systems India Limited, the business continues to be listed on India’s stock exchanges, it added.
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Sun Pharma, other drug cos say innovative products to contribute substantially in future Sun Pharma, India’s largest drug maker, said it expects its innovative products to garner $1.5 billion in sales in the next 3-4 years. Dilip Shanghvi, managing director of Sun Pharma said about 12%-13% of the company’s turnover comes from innovative products, and growing three times faster than the generics business.
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Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) and Saudi Aramco on Friday decided to re-evaluate the proposed Investment by Aramco in the oil-to-chemical (O2C) business in light of the Indian firm’s new energy forays. Hence, the application with NCLT for segregating O2C business from RIL is being withdrawn, the company said in a statement.
Global News
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The commodities boom that helped propel producer inflation to a 26-year high in China is showing signs of waning, with the forces that pushed prices up over the past year now in retreat. An energy crisis that fueled record coal prices looks becalmed for now, while aggressive efforts to stamp out virus outbreaks are wearing down consumer travel and therefore demand for jet fuels.
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JPMorgan Chase & Co. economists said they now expect the U.S. Federal Reserve to raise interest rates next September, becoming the latest on Wall Street to jettison a forecast for the central bank to stay on hold through 2022.
(Source: Bloomberg Quint, Economic Times, BusinessToday,Business Standard, Financial Express,Investing, Moneycontrol, livemint)
Forthcoming Corporate Actions – 8th November –13th November
| Security Name | Ex-Date | Purpose | Security Name | Ex-Date | Purpose |
| ESTER | 22-Nov-21 | Interim Dividend – Rs. – 1.40 | GRANULES | 24-Nov-21 | Interim Dividend – Rs. – 0.2500 |
| GABRIEL | 22-Nov-21 | Interim Dividend – Rs. – 0.5500 | GUJTHEM | 24-Nov-21 | Interim Dividend – Rs. – 2.00 |
| GLS | 22-Nov-21 | Interim Dividend – Rs. – 10.50 | GUJTHEM | 24-Nov-21 | Special Dividend – Rs. – 5.00 |
| IPCALAB | 22-Nov-21 | Interim Dividend – Rs. – 8.00 | HGS | 24-Nov-21 | Interim Dividend – Rs. – 10.00 |
| IRCON | 22-Nov-21 | Interim Dividend – Rs. – 0.70 | MANAPPURAM | 24-Nov-21 | Interim Dividend – Rs. – 0.7500 |
| JAMNAAUTO | 22-Nov-21 | Interim Dividend – Rs. – 0.50 | MORGANITE | 24-Nov-21 | Special Dividend – Rs. – 42.00 |
| MSTC | 22-Nov-21 | Interim Dividend – Rs. – 2.00 | NATIONALUM | 24-Nov-21 | Interim Dividend – Rs. – 2.00 |
| ONGC | 22-Nov-21 | Interim Dividend – Rs. – 5.50 | PFC | 24-Nov-21 | Interim Dividend – Rs. – 2.50 |
| PREMCO | 22-Nov-21 | Interim Dividend – Rs. – 4.00 | POLYPLEX | 24-Nov-21 | Interim Dividend – Rs. – 15.00 |
| QUESS | 22-Nov-21 | Interim Dividend – Rs. – 4.00 | RCF | 24-Nov-21 | Interim Dividend – Rs. – 1.3500 |
| TIDEWATER | 22-Nov-21 | Interim Dividend – Rs. – 20.00 | RITES | 24-Nov-21 | Interim Dividend – Rs. – 4.00 |
| CAMS | 23-Nov-21 | Interim Dividend – Rs. – 9.50 | ZUARIGLOB | 24-Nov-21 | Interim Dividend – Rs. – 2.00 |
| COCHINSHIP | 23-Nov-21 | Interim Dividend – Rs. – 6.00 | ABANSENT | 25-Nov-21 | Interim Dividend – Rs. – 0.10 |
| HAL | 23-Nov-21 | Interim Dividend – Rs. – 14.00 | BHARATFORG | 25-Nov-21 | Interim Dividend – Rs. – 1.50 |
| LIKHITHA | 23-Nov-21 | Interim Dividend – Rs. – 1.50 | CUPID | 25-Nov-21 | Interim Dividend – Rs. – 1.00 |
| NATCOPHARM | 23-Nov-21 | Interim Dividend – Rs. – 0.50 | INDAG | 25-Nov-21 | Interim Dividend – Rs. – 0.90 |
| OIL | 23-Nov-21 | Interim Dividend – Rs. – 3.50 | KIOCL | 25-Nov-21 | Interim Dividend – Rs. – 0.9800 |
| RAMAPHO | 23-Nov-21 | Interim Dividend – Rs. – 1.20 | KSCL | 25-Nov-21 | Interim Dividend – Rs. – 4.00 |
| SKL | 23-Nov-21 | E.G.M. | NILE | 25-Nov-21 | Interim Dividend – Rs. – 1.00 |
| AMARAJABAT | 24-Nov-21 | Interim Dividend – Rs. – 4.00 | NUCLEUS | 25-Nov-21 | Buy Back of Shares |
| CRISIL | 24-Nov-21 | Interim Dividend – Rs. – 9.00 | PANAMAPET | 25-Nov-21 | Interim Dividend – Rs. – 2.00 |
| GMPL | 24-Nov-21 | Interim Dividend – Rs. – 1.00 | PGFOILQ | 25-Nov-21 | Interim Dividend – Rs. – 2.00 |
| GPPL | 24-Nov-21 | Interim Dividend – Rs. – 1.60 | PTC | 25-Nov-21 | Interim Dividend – Rs. – 2.00 |
Source: BSE, Elite wealth Researh
Upcoming Key Board Meetings – 22nd November – 27th November
| Symbol | Purpose | BM Date | Symbol | Purpose | BM Date |
| TIGERLOGS | Interim Dividend | 22-Nov-21 | VERITAS | Quarterly Results | 24-Nov-21 |
| CORPOCO | Quarterly Results | 23-Nov-21 | ALPHA | Quarterly Results | 25-Nov-21 |
| DUGARHOU | General | 23-Nov-21 | KOVAI | Quarterly Results | 25-Nov-21 |
| GNRL | General | 23-Nov-21 | PADALPO | Quarterly Results | 25-Nov-21 |
| NARBADA | Preferential Issue of shares | 23-Nov-21 | SHIVAMAUTO | Rights Issue | 25-Nov-21 |
| PQIF | In. in Auth. Capital;Stock Split | 23-Nov-21 | VISAGAR | Bonus issue;Increase in Auth. Capital | 25-Nov-21 |
| QUANTBUILD | A.G.M.;General | 23-Nov-21 | VISIONCO | General | 25-Nov-21 |
| SPELS | Quarterly Results | 23-Nov-21 | WANBURY | Quarterly Results | 25-Nov-21 |
| MNPLFIN | General | 24-Nov-21 | RADHEDE | General | 26-Nov-21 |
| SAMINDUS | General | 24-Nov-21 | ZODIACVEN | Issue Of Warrants;Pref. Issue | 26-Nov-21 |
| SEACOAST | General | 24-Nov-21 | AXITA | Bonus issue;Increase in Auth. Cap. | 27-Nov-21 |
| SIEMENS | Audited Results;Final Dividend | 24-Nov-21 | CCCL | Quarterly Results | 27-Nov-21 |
Source: BSE, Elite wealth Research
Major Economy Indicators
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