Market-View-Feature-Image

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

Asian stocks followed their U.S. peers lower as traders weighed the economic threat of virus restrictions against optimism about the efficacy of vaccines. Treasuries gained. Equities slipped in Korea, Australia and Japan. U.S. futures fluctuated after benchmarks ended a three-day rally on Thursday amid losses in the consumer discretionary and real estate sectors. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 17,533.50, as of 8:05 a.m.

Economic Calendar:

  • INR: Manufacturing Output (MoM) (Oct) on 10th December, 2021.
  • INR: FX Reserves, USD on 10th December, 2021.
  • USD: Core CPI (MoM) (Nov) on 10th December, 2021.
  • USD: Federal Budget Balance (Nov) on 11th December, 2021.

Brokerage Radar:

UBS ON PVR: Maintain buy at the price of Rs 1488 for the target price of Rs 2000. Market missing early indicators & big wave of movie releases. Expect a street earnings upgrade in the next few months. Nov box office at 90% of its pre-covid level despite restricted occupancy. 4Q may be the biggest ever net box office colln for Indian film ind. Co trading at a 30% discount to its pre COVID Level.

JEFFERIES ON DIXON: Maintain buy at the price of Rs 5389 for the target price of Rs 6450. Raise FY24 EPS by 3%, factoring in telecom PLI upside. Over FY21-24, they estimate sales/profit CAGR of +56%/+67%. Growth prospects appear superior to most peers.

CREDIT SUISSE ON CONSUMER STAPLES: Many FMCG Cos may see double-digit price increases at company levels in Q4. This would be the highest price increases by the industry after FY09. FMCG volumes have slowed down in pervious instances of broad-based price hike. HUL saw very low single-digit volume growth in FY 09 with double-digit price hike. Nestle saw low single-digit volume growth in cy12-14 with double-digit price hike. Expect 2-3% moderation in the two-year volume CAGR for most cos in H2. 2-yr volume CAGR for Dabur & Marico would still be healthy at high single digit. 2-yr volume CAGR for Hul & Britannia could slip into low single digit.

International Markets:

U.S & Europe

Particulars 9th Dec Chg Chg(%)
Nasdaq 15,517.37 -269.62 -1.71
Dow 35,754.69 -0.06 0.00
FTSE 7,321.26 -15.79 -0.22
CAC 7,008.23 -6.34 -0.09
DAX 15,639.26 -47.83 -0.30
Dow Fut.* 35,763.00 10.00 0.03

Asian markets:

Particulars 10th Dec Chg Chg(%)
SGX Nifty 17,533.50 -12.00 -0.07
Nikkei 28,599.51 -125.96 -0.44
Straits Times 3,140.12 -2.33 -0.07
Hang Seng 24,183.89 -70.97 -0.29
Shanghai 3,660.08 -12.96 -0.35

ADR Watch:

Particulars 9th Dec Chg Chg(%)
Dr Reddy 60.59 -0.08 -0.13
HDFC Bank 65.67 -1.80 -2.67
ICICI Bank 20.00 0.28 1.42
Infosys 23.25 -0.19 -0.81
Tata Motor 32.14 -0.47 -1.44
Wipro 8.71 -0.05 -0.57

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.52 0.09
Brent 74.44 0.64
Gold 1779.65 0.17
Silver 22.032 0.09

FIIs & DII

Particulars 9thDec 8thDec
FIIs -1585.55 -579.27
DIIs 782.84 1735.50

News Update:

Bajaj Electricals: To review its corporate structure to unlock growth and consider demergers, subsidiarization and strategic partnerships. Board has authorised management to consider housing power transmission and power distribution business verticals as a standalone legal entity.

Karnataka Bank: Conferred with two DigiDhan awards instituted by the government for achieving the target with highest percentage in BHIM UPI transactions.

HFCL: The company closed the qualified institutional placement issue and raised Rs 600 crore by allocating 8,72,72,727 equity shares at an issue price of Rs 68.75 per share.

Dr Reddy’s Laboratories: Has sought permission from India’s drug regulator to conduct a phase-3 clinical trial to evaluate the efficacy and safety of Sputnik Light vaccine as a booster dose against COVID-19 in India.

Vodafone Idea: The telco has managed to raise funds for the payment of bondholders’ interest on time, according to a media report. Vodafone Idea is expected to pay ₹6,000 crore beginning 13 December to March 2022. It has been in talks with lenders and investors to raise funds for repayment of bonds.

One97 Communications: The fintech major’s subsidiary, Paytm Payments Bank Ltd, has been included in the second schedule of the Reserve Bank of India Act and is now a scheduled payments bank. Accordingly, it can now participate in government and other large corporations issued Request for Proposals (RFP), primary auctions, fixed-rate and variable rate repos, and reverse repos, along with participation in the marginal standing facility.

Marksans Pharma: UK health regulator has granted market authorisation to the company’s wholly owned subsidiary Relonchem for Loperamide 2mg hard capsules. Marksans will manufacture the products at its UK MHRA-approved state-of-the-art oral dosage facility located in Goa, India.

Aviation stocks: India has extended the ban on scheduled international flights till 31 January. This will not be applicable to any international all-cargo operation and flight specifically approved by Director-General of Civil Aviation.

Go Fashion: SBI Mutual Fund has bought 1.5 million shares of Go Fashion at ₹1,172 apiece through a bulk deal on the National Stock Exchange. In another transaction, India Advantage Fund sold 1.5 million shares of Go Fashion at ₹1,172 apiece through a bulk deal on the NSE.

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

 

 

 

 

 

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html