View on market: Stay Cautious, be with quality business:
Asian stocks were mixed Wednesday after Federal Reserve Chair Jerome Powell sought officials to consider a faster removal of monetary stimulus amid high inflation. Shares slipped Japan and Australia and rose in South Korea, while U.S. equity futures pared earlier gains. The S&P 500 slumped almost 2% overnight and measures of equity volatility jumped on the prospect of tightening policy. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose to 17,144.00 as of 8:00 a.m.
Economic Calendar:
- INR: Nikkei Markit Manufacturing PMI (Nov) on 1st December, 2021.
- INR: Nikkei Services PMI (Nov) on 3rd December, 2021.
- USD: ADP Nonfarm Employment Change (Nov) on 1st December, 2021.
- USD: Crude Oil Inventories on 1st December, 2021.
Brokerage Radar:
GS ON MARUTI: Maintain buy at the price of Rs 7068 for the target price of Rs 9000. December production to be at 80%-85% of normalised levels. Dec prodn guidance of 80- 85% of normalised levels indicates a flattish trend MOM. Semiconductor supplies could still take some more time to normalise fully.
JP MORGAN ON HCL TECH: Maintain overweight at the price of Rs 1139 for the target price of Rs 1400. Co expects strong demand environment to sustain for at least three years. Supply issues to persist until growth keeps accelerating or cools below low-mid teens. P&P should bounce back in Q3 helped by seasonality still see value in the stock.
International Markets:
U.S & Europe
| Particulars | 30thNov | Chg | Chg(%) |
| Nasdaq | 15,537.69 | -245.14 | -1.55 |
| Dow | 34,483.72 | -652.22 | -1.86 |
| FTSE | 7,059.45 | -50.50 | -0.71 |
| CAC | 6,721.16 | -55.09 | -0.81 |
| DAX | 15,100.13 | -180.73 | -1.18 |
| Dow Fut.* | 35,590.00 | 133.00 | 0.39 |
Asian markets:
| Particulars | 1st Dec | Chg | Chg(%) |
| SGX Nifty | 17,144.00 | 80.50 | 0.47 |
| Nikkei | 28,082.35 | 260.59 | 0.94 |
| Straits Times | 3,080.47 | 39.18 | 1.29 |
| Hang Seng | 23,777.33 | 302.07 | 1.29 |
| Shanghai | 3,561.61 | -2.28 | -0.06 |
ADR Watch:
| Particulars | 30th Dec | Chg | Chg(%) |
| Dr Reddy | 62.44 | 0.59 | 0.95 |
| HDFC Bank | 65.47 | -1.68 | -2.50 |
| ICICI Bank | 18.46 | -0.53 | -2.79 |
| Infosys | 22.58 | -0.04 | -0.18 |
| Tata Motor | 30.54 | -0.42 | -1.36 |
| Wipro | 8.54 | -0.02 | -0.23 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 75.16 | 0.08 |
| Brent | 71.06 | 1.30 |
| Gold | 1779.10 | 0.15 |
| Silver | 22.830 | 0.07 |
FIIs & DII
| Particulars | 30th Nov | 29thNov |
| FIIs | -5445.25 | -3332.21 |
| DIIs | 5350.23 | 4611.41 |
News Update:
Maruti Suzuki India: The company expects adverse impact on vehicle production in Haryana and Gujarat plant in December due to chip shortage. Total production volume across both the locations to be around 80-85% of normal production.
UltraTech Cement: The company has commenced mining of coal from its Bicharpur Coal mines situated in Madhya Pradesh. The mines have extractable reserves of 29 MMT.
Rail Vikas Nigam: The company has entered into an MoU with Economic Policy Research Institute of Kyrgyz Republic for development of railway corridor projects between Bishkek to Karakechenskoye
NMDC: State-owned mining company NMDC slashed prices of lump ore by ₹750 a tonne and fines ₹200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to ₹5,200 a tonne. While the price of lump ore or low-grade ore has been fixed at ₹4,560 per tonne.
NTPC: Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project of Bhartiya Rail Bijlee Company, a subsidiary company of NTPC, has commenced commercial operation. With this, the commercial capacity of NTPC group will become 67,907.5 MW.
Indian Bank: The bank has declared the non-performing accounts of Raj Events and Entertainment (P) Ltd. and Capricorn Food Products India Ltd as fraud and reported them to the RBI.
TCS: The company has launched TCS Assessment and Migration Factory, a set of tools, accelerators, and services that enable customers to shift their mainframe workloads to the new AWS Mainframe Modernization (M2) platform.
Coal India: The coal major plans to invest Rs 19,650 crore by FY24 to increase coal transportation capacity by 330 million tonnes (mt) by constructing rail links and setting up joint ventures, a report said.
Zomato: Close on the heels of launching a $1 billion corpus to invest in startups, food delivery company Zomato unveiled Zomato Wings, a platform to help restaurants raise investments. Zomato said it would facilitate fundraising for its partner restaurants by helping them position their story and metrics and connecting them with investors. Zomato itself, though, will not invest in the restaurant brands.
Future Retail: Future Retail Ltd’s lenders are planning to discuss allegations of financial irregularities against the retailer and may initiate a forensic audit of the company’s books, two people aware of the development said. In a 24 November letter to the finance ministry and the Reserve Bank of India, Future Group’s partner Amazon.com Inc. alleged funds diversion in Future Retail, including unfair related-party transactions worth about $1 billion; a sudden spike in Future Retail’s debts; and an inordinate delay in payment to creditors due to discrimination by promoters.
Hathway Cable & Datacom: The company has acquired the balance 3.64 percent stake in subsidiary Hathway Kokan Crystal for Rs 54,880. Now Hathway Kokan Crystal has become a wholly-owned subsidiary of the company
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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