Market-View-Feature-Image

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

Most Asian stocks rose Tuesday after S&P 500 posted its 69th record close this year. Equities climbed in Japan but dipped in South Korea, while U.S. futures inched lower. Hong Kong will reopen after a holiday and Australia remains shut. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.50% to 17,192, as of 8:30 a.m. The dollar was little changed. Crude oil held a rally while bitcoin hovered around $50,000.

Economic Calendar:

INR:  Foreign Exchange Reserve on 31st  December, 2021.

INR:  Infrastructure Output YoY on 31st December 2021

USD: Goods Trade Balance on 29th December, 2021.

USD: API Weekly Crude Oil Stock on 29th December, 2021.

Brokerage Radar:

NOMURA ON LOGISTICS SECTOR (Monthly trends): Rail container volumes robust Port volumes largely stable, supported by revival in coal imports Adani Ports Buy, TP Rs 880 CONCOR Buy, TP Rs 856 Gujarat Pipavav buy, TP Rs 165 Aegis Logistics buy, TP Rs 422

INVESTEC ON UTILITIES (2022 outlook): NTPC top pick, TP Rs 200, current vals don’t factor any RE growth optionality Buy on CESC, TP Rs 115, offers a play on distribution privatisation at attractive vals Buy on Power Grid, TP Rs 220, 6% dividend yield will remain steady. Buy on Tata Power, TP Rs 215, 2022 will seek newer growth levers along with execution / earnings delivery Sell on Torrent Power, TP Rs 412, earnings continue to be threatened by high international RLNG prices

MOTILAL OSWAL ON ERIS LIFESCIENCES: Initiate Buy, TP Rs 870 In just 14 yrs (founded in CY07), ERIS has built a pure-play Branded Formulation biz, with revenue of Rs 13b (12M ending Sep’21). Notably, its PAT has nearly doubled to Rs 3.5b during FY16–21. Expect 17% earnings CAGR over FY21–24 driven by a) higher penetration of technically superior drugs in AD therapy b) improve coverage of super-specialists/high-end consulting physicians c) better operating leverage d) higher in-house manufacturing.

International Markets:

U.S & Europe

Particulars 27th Dec Chg Chg(%)
Nasdaq 15,871.26 217.89 1.39
Dow 35302.38 351.82 0.98
FTSE 7,372.10 -1.24 -0.02
CAC 7,140.39 53.81 0.76
DAX 15,835.25 78.94 0.5
Dow Fut.* 36252.30 -49.10 -0.14

Asian markets:

Particulars 28th Dec Chg. Chg(%)
SGX Nifty 17,192.00 86 0.5
Nikkei 28,952.76 276.3 0.96
Straits Times 3,122.18 17.94 0.58
Hang Seng 23,124.39 -99.37 -0.43
Shanghai 3,611.07 -4.9 -0.14

ADR Watch:

Particulars 27th Dec Chg. Chg.(%)
Dr Reddy 63.62 0.83 1.32
HDFC Bank 64.01 0.76 1.2
ICICI Bank 19.49 0.16 0.83
Infosys 25.33 0.6 2.43
Tata Motor 31.78 0.57 1.83
Wipro 9.64 0.19 2.01

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.00 -0.03
Brent 78.38 -0.17
Gold 1811.05  0.07
Silver 23.017 0.12

FIIs & DII

Particulars 27th Dec 24th Dec
FIIs -1038.25 -715.00
DIIs 955.79 -43.24

News Update:

Supriya Lifescience: The company will make its debut on the bourses today. The final issue price is fixed at Rs 274 per share.

RBL Bank: The bank has signed an agreement with Bajaj Finance for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.

Paras Defence and Space Technologies: The Company has bagged an order from the Development Establishment and Defence Research and Development Organization (DRDO).  Paras Defence will handle the technology of Border Surveillance Systems as developed by Instruments Research and DRDO.

Gokaldas Exports: ICRA has upgraded the long-term rating for the captioned Line of Credit (LoC) of the company to A- (positive) from BBB (stable). Similarly, the rating agency has upgraded the short-term rating for the captioned LOC to A2+ from A3+.

Shyam Metalics and Energy: The Company announced 20 percent increase in sponge iron manufacturing capacity.

Maharashtra Seamless: The Company has bagged orders worth Rs 150.70 crore from PSU companies for the supply of ERW and seamless pipes

Indian Hotels Company: Tata Group hospitality arm Indian Hotels Company on Monday said that hotel bookings have slowed down for January and February 2022.

GR Infraprojects: The Provisional Completion certificate has been issued by the Independent Engineer for the development of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura (Ghazipur) in Uttar Pradesh on EPC basis, and has declared the project fit for entry into commercial operation

Siemens: A joint venture between TRIL Urban Transport, a Tata Group company, and Siemens Project Ventures, a subsidiary of Siemens Financial Services, under public-private partnership route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar, Pune. The joint venture has formed a special purpose company called Pune IT City Metro Rail.

Cosmo Films: The Company should be able to close FY22 with Rs 3,000 crore topline, said Pankaj Poddar, CEO of Cosmo Films.

 

Source: Moneycontrol, Livemint,, Bloomberg, Investing

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL