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

Stocks are starting the week weaker as investors brace for bond-market volatility and assess the economic hit from the rapidly spreading Covid omicron variant. Shares edged lower in Australia and South Korea. U.S. futures slipped after the S&P 500 posted the worst start to a year since 2016 as expectations of faster-than-anticipated U.S. interest-rate increases roiled bond markets. Japan is shut for a holiday Monday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.33% to 17,916, as of 7 a.m Elsewhere, Bitcoin traded around $42,000 as cryptocurrencies continue to struggle.
Economic Calendar:

  • INR: CPI December on 12th January, 2022.
  • INR: IIP Data of Dec on 12th January 2022.
  • USD: FOMC Member George Speaks on 11th January, 2022.
  • USD: Core CPI on 12th January, 2022.

 

Earnings: 5PAISA, VIKASLIFE

Results:

Avenue Supermarts : The company’s standalone profit rose nearly 25 percent YoY to Rs 586 crore, while revenue came in 22 percent higher at Rs 9,065 crore in Q3FY22

Brokerage Radar:

JEFFERIES ON RELIANCE: Buy, Target Price of Rs 2950 Forecast 36% EBITDA CAGR in RR on store additions & traction in new commerce, & tariff hike-driven 21% EBITDA CAGR in Jio over FY22-24E, ahead of 14% CAGR in O2C Forecast 23% EPS CAGR, ahead of Nifty Consensus EPS CAGR of 16% over FY22-24E.

JEFFERIES ON MIDCAPS: In 2022, key focus themes could be 3) Indigenization push; PLIs (DIXON, AMBER) 4) Input cost trend and price hikes (market leaders to benefit) Top Picks are CROMPTON, DIXON, Kajaria Ceramics & Supreme Ind.

CITI ON GUJARAT GAS: Buy, Target Price of Rs 800 Open 90-day +ve Catalyst Watch as Margin Headwinds to Recede As LNG Corrects Additionally, should also benefit volume recovery, with likely reversal of gas-to-propane switching in key industrial segment.

JP MORGAN ON AVENUE SUPERMART: Underweight, Target Price of Rs 3955 Q3 miss marginally as adverse mix weighs on GM Rising Omicron incidence in large cities poses near-term risk to store footfalls/product mix and hence revenue offtake, though DMART Ready scale-up should help mitigate.

International Markets:

U.S & Europe

Particulars 7th Jan Chg Chg(%)
Nasdaq 14,935.90 -144.97 -0.96
Dow 36231.66 -4.80 -0.01
FTSE 7,485.28 34.91 0.47
CAC 7,219.48 -30.18 -0.42
DAX 15,947.74 -104.29 -0.65
Dow Fut.* 36190.9 -40.8 -0.11

Asian markets:

Particulars 10th Jan Chg. Chg(%)
SGX Nifty 17,926.00 69 0.39
Nikkei 28,478.56 -9.31 -0.03
Straits Times 3,231.77 26.51 0.83
Hang Seng 23,681.85 188.47 0.8
Shanghai 3,581.58 2.04 0.06

ADR Watch:

Particulars 7th Jan Chg. Chg.(%)
Dr Reddy 63.65 -0.29 -0.45
HDFC Bank 68.1 0.86 1.28
ICICI Bank 21.15 0.27 1.29
Infosys 24.11 -0.19 -0.78
Tata Motor 32.85 0.9 2.82
Wipro 9.55 0.04 0.42

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.30 -0.25
Brent 82.03 0.31
Gold 1792.25 -0.25
Silver 22.297 -0.50

FIIs & DII

Particulars 7th Jan 6th Jan
FIIs 496.27 -1926.77
DIIs -115.66 800.91

News Update:

Tata Steel : The company increased its stake in joint venture company, Medica TS Hospital, to 51 percent from 26 percent.

InterGlobe Aviation : The airline said it will cancel around 20 percent of its flights because of the surge in COVID-19 cases driven by the Omicron variant and waive change fees till March 31 in response to customer needs.

Reliance Industries : RIL announced the acquisition of New York’s premium luxury hotel Mandarin Oriental for $98.15 million.

Sobha : The company reported sales volume of 13,22,684 square feet of super built-up area valued at Rs 1,047.5 crore in Q3FY22, up from sales volume of 11,33,574 square feet of super built-up area valued at Rs 887.6 crore in Q3FY21. Sobha share of sale value stood at Rs 908.2 crore during the quarter, up from Rs 677.7 crore in same quarter last year.

Kotak Mahindra Bank : Kotak Group has confirmed in a statement that it has placed on record its objections to inappropriate language used by BharatPe co-founder and MD Ashneer Grover against one of its employees. The firm also confirmed that it had received a notice from Ashneer Grover and his wife Madhuri Grover, accusing the bank of failing to secure financing and allocation of shares in an IPO launched by Nykaa.

Cyient : Aditya Birla Sun Life AMC sold 21.16 lakh equity shares in the company through open market transactions on January 6. Post this, AMC’s shareholding has reduced to 33.93 lakh shares from 56.1 lakh shares earlier.

Mahanagar Gas : The company has hiked CNG price by Rs 2.50 to Rs 66 per kg and PNG by Rs 1.50 to Rs 39.50 per SCM.

CSB Bank : CVR Rajendran decided to take early retirement from the post of MD & CEO and to continue leading the bank till March 31, 2022.

Dilip Buildcon : Subsidiary Sannur Bikarnakette Highways Private Limited has received the financial closure letter from the National Highways Authority of India, for four laning of Sannur to Bikarnakette section of NH-769 under Bharathmala Pariyojana on Hybrid Annuity Mode in Karnataka.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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