View on market: Stay Cautious, be with quality business:
Stocks in Asia rose on Wednesday after U.S. Federal Reserve Chair Jerome Powell reiterated commitment to tackle inflation helped fuel gains on Wall Street. Equities advanced in Japan, Australia and South Korea. U.S. futures were volatile after S&P 500 logged gains for the fifth session in six. Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50 index, rose 0.21% to 17,408 points as of 6:50 am. Treasuries held losses triggered by Powell’s statement that a half-point interest-rate hike is possible at the central bank’s next meeting. The dollar edged higher, Brent hovered around $115 per barrel while Bitcoin tested $42,000. President Joe Biden and U.S. allies meeting in Brussels on Thursday are expected to announce new sanctions against Russia over its invasion of Ukraine and fresh measures designed to keep the Kremlin from sidestepping existing economic penalties. Commodity markets will be closely watched after the U.S. and U.K. reached a deal to ease tariffs on British steel and aluminum that may ease some inflationary pressures.
Economic Calendar:
- INR: Forex Reserve on 25th March 2022.
- INR: Forex Reserve on 1st April 2022.
- USD: Retail Inventory Ex Auto 28th March, 2022.
- USD:Jobless Claims on 24th March, 2022.
Brokerage Radar:
JEFFERIES ON HUL: Buy, TP Rs 2520 Industry interactions indicate FMCG market has seen a further slowdown, pointing to flat rev & a high-single digit vol decline in Jan/Feb RM inflation & adverse mix would keep margins under pressure in 4Q.
JEFFERIES ON GLAND PHARMA: Buy, TP Rs 4578 Hosted Co for a UK/EU roadshow recently Management guided to growth visibility in all key markets with 20-25% revenue CAGR in medium term Margins are expected to be steady with vol growth countering gross margin dilution.
CITI ON OMCs: OMCs finally raised retail prices of petrol, diesel, & domestic LPG, which comes as a big relief Assuming regular price hikes sustain, believe stks should gradually reverse recent underperformance HPCL preferred pick
International Markets:
U.S & Europe:
| Particulars | 22nd Mar | Chg | Chg(%) |
| Nasdaq | 14,108.82 | 270.36 | 1.95 |
| Dow | 34807.46 | 254.47 | 0.74 |
| FTSE | 7,476.72 | 34.33 | 0.46 |
| CAC | 6,659.41 | 77.08 | 1.17 |
| DAX | 14,473.20 | 146.23 | 1.02 |
| Dow Fut.* | 34882.1 | 75.1 | 0.22 |
Asian markets:
| Particulars | 23rd Mar | Chg. | Chg(%) |
| SGX Nifty | 17,446.00 | 74 | 0.43 |
| Nikkei | 27,947.26 | 723.15 | 2.66 |
| Straits Times | 3,367.60 | 17.43 | 0.52 |
| Hang Seng | 22,215.59 | 326.31 | 1.49 |
| Shanghai | 3,264.66 | 4.8 | 0.15 |
ADR Watch:
| Particulars | 22nd Mar | Chg. | Chg.(%) |
| Dr Reddy | 53.08 | 0.63 | 1.2 |
| HDFC Bank | 62.46 | 0.61 | 0.99 |
| ICICI Bank | 18.97 | 0.3 | 1.61 |
| Infosys | 24.79 | 0.58 | 2.4 |
| Tata Motor | 28.61 | 0.79 | 2.84 |
| Wipro | 8 | 0.12 | 1.52 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.18 | 0.08 |
| Brent | 117.38 | 1.65 |
| Gold | 1923.55 | 0.11 |
| Silver | 24.957 | 0.21 |
FIIs & DII:
| Particulars | 22nd Mar | 21st Mar |
| FIIs | 384.48 | 2800.14 |
| DIIs | -602.05 | -678.45 |
News Update:
HCL: The company has signed a collaboration agreement with NEORIS for integrated IT services. Indian Hotels: The company is offering 10 crore shares in Qualified Institutional Placement with issue price range of Rs 200 to Rs 204 each to raise Rs 2,040 crore. Floor price is set at Rs 203.48.
Hindustan Petroleum: Appointed Rajneesh Narang as Director (Finance) on the board of the company with effect from March 22, 2022.
Adani Power: The company approved scheme of amalgamation of wholly owned subsidiaries – Adani Power Maharashtra, Adani Power (Mundra), Adani Power Rajasthan, Udupi Power Corporation, Raipur Energen and Raigarh Energy Generation with the company.
Infosys: The company will acquire Germany-based digital marketing agency Oddity for €50 million. The firm will merge with Infosys’ earlier acquisition Wongdoody.
Adani Ports and Logistics: The company’s cargo volumes crossed 30 crore metric tonne in FY2022.
SBI Life Insurance: The company approved dividend of Rs 2 per share with a face value of Rs.10 each.
SBI: The bank acquired 7.84% stake in Open Network for Digital Commerce for Rs 10 crore.
SBI Card and Payments: The bank declared interim dividend of Rs 2.5 per share of face value of Rs 10.
Future Enterprise: The company has defaulted on interest of Rs 15.65 crore due on Non-Convertible Debentures.
Brigade Enterprises: The company has forayed into the plotted development space with a 66-acre residential project in Bengaluru, Karnataka.
Lemon Tree: The company has withdrawn the decision to position of Chairman & Managing Director/CEO and Patanjali Govind Keswani will continue to hold both the positions.
Urja Global: The company has set up an Assembling unit for E-Scooters in Nashik for supply in western zone of India
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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