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

Stocks and bonds fell in Asia Friday after Treasuries and Wall Street shares sank on a jump in U.S. inflation to a fresh four-decade high. U.S. equity futures, Australian shares and South Korean stocks slid. The tech-heavy Nasdaq 100 led declines as U.S. shares snapped a two-day winning run. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.93% to 17,443 as of 7 a.m. Elsewhere, oil headed for the first weekly loss since mid-December. The dollar climbed. Bitcoin slid below $43,000 amid risk aversion.

Economic Calendar:

  • INR: CPI Inflation on 14th February, 2022.
  • INR: WPI Inflation on 14th February 2022.
  • USD: Federal Budget Balance on 11th February, 2022.
  • USD: PPI on 15th February, 2022.

Earnings: Akzo Nobel India Allcargo Logistics Amrutanjan Health Care Anupam Rasayan India Apollo Hospitals Enterprises Arvind Fashions Ashok Leyland Bajaj Hindusthan Sugar Mrs. Bectors Food Specialities Bengal & Assam Company Brookfield India Real Estate Trust REIT Cholamandalam Financial Holdings Citurgia Biochemicals Divi’s Laboratories Everest Kanto Cylinder Fairchem Organics Fine Organic Industries Force Motors Fortis Healthcare Glenmark Pharmaceuticals Globus Spirits Godrej Industries Garden Reach Shipbuildings & Engineers Hemisphere Properties India HLE Glascoat Hindustan Foods Honeywell Automation India Himadri Speciality Chemical Housing & Urban Development Corporation IDFC IFCI India Cements India Glycols Indigo Paints

Results:

Hero MotoCorp: Q3FY22 (Standalone, YoY) Revenue down 19.36% at Rs 7,883.27 crore Vs Rs 9,775.77 crore (BBG estimate: Rs 7803.4 crore) Net profit down 36.73% at Rs 686.13 crore Vs Rs 1,084.47 crore (BBG estimate: Rs 682.5 crore) Ebitda down 32.09% at Rs 960.01 crore Vs Rs 1,413.63 crore Margin at 12.2% Vs 14.5%.

RCF: Q3FY22 (Consolidated, YoY) Revenue up 81% at Rs 3,699.21 crore Vs Rs 2,047.88 crore Net profit up 45% at Rs 143.15 crore Vs Rs 98.70 crore Ebitda up 10% at Rs 223.04 crore Vs Rs 202.72 crore Margin at 6% Vs 9.9%.

Tata Chemicals: Q3FY22 (Consolidated, YoY) Revenue up 21% at Rs 3,141.58 crore Vs Rs 2,606.08 crore Net profit up 93% at Rs 310.33 crore Vs Rs 160.85 crore Ebitda up 16% at Rs 545.14 crore Vs Rs 471.91 crore Margin at 17.4% Vs 18.1%.

Zomato: Q3FY22 (Consolidated, QoQ) Revenue up 9% at Rs 1,112 crore Vs Rs 1,024.2 crore Net loss at Rs 63.20 crore Vs Rs 429.6 crore Ebitda loss at Rs 488.80 crore Vs Rs 535.80 crore Gross order value grew by 1.7% to Rs 5,500 crore Number of orders grew 5% Average order value shrunk by 3%

Brokerage Radar:

JEFFERIES ON TREND: Hold, TP Raised to Rs 1150 vs Rs 1000 Mobility improvement, festive demand & improved customer sentiment drove highest-ever qtry revs Westside crossed Rs10bn rev milestone in 3Q Despite strong topline growth, margins muted.

CITI ON PIRAMAL ENTERPRISE: Buy, TP cut to Rs 3180 from Rs 3310 3Q: EBITDA Margin Recovers; Activating DHFL Infra Key to watch is de-merger of Pharma & Fin Services, can help in unlocking value Tweak earnings by -6%/-1% for FY22/23, largely on slower Pharma rev growth.

MORGAN STANLEY ON ZOMATO: OW, TP Rs 150 Believe a lack of growth in MTU QoQ and a slowdown in GOV (even after adjusting for lower delivery charges) more than offset the positive from lower burn rates QoQ and could limit the stock price in the near term

International Markets:

U.S & Europe

Particulars 10th  Feb Chg Chg(%)
Nasdaq 14,185.64 -304.73 -2.1
Dow 35241.59 -526.47 -1.47
FTSE 7,672.40 28.98 0.38
CAC 7,101.55 -29.33 -0.41
DAX 15,490.44 8.43 0.05
Dow Fut.* 35115.4 -127.7 -0.36

Asian markets:

Particulars 11th  Feb Chg. Chg(%)
SGX Nifty 17,415.50 -190.5 -1.08
Nikkei 27,696.08 116.21 0.42
Straits Times 3,434.54 6.54 0.19
Hang Seng 24,848.77 -75.58 -0.3
Shanghai 3,478.71 -7.2 -0.21

ADR Watch:

Particulars 10th Feb Chg. Chg.(%)
Dr Reddy 58.21 0.95 1.66
HDFC Bank 69.47 2.1 3.12
ICICI Bank 21.48 0.08 0.37
Infosys 23.41 0.52 2.27
Tata Motor 34.03 1.04 3.15
Wipro 7.65 0.11 1.46

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.94 0.17
Brent 91.47 0.07
Gold 1827.5 -0.55
Silver 23.150 -1.58

FIIs & DII

Particulars 10th Feb 9th Feb
FIIs -1732.58 -892.64
DIIs 2727.23  1793.35 

News Update:

Tata Steel Long Products: The company has approved fund raising from Tata Steel by way of issuance of unlisted Non-Convertible Redeemable Preference shares for Rs 13,300 crore to meet the financial requirements for acquisition of

Neelachal Ispat Bharat Forge: The company has entered into a power purchase agreement and share subscription and shareholders’ agreement with Avaada MHVidarbha to purchase solar power on a single captive user basis. The company will acquire 26% equity stake for Rs 11,37,50,000 in AMHVPL.

Burger King: The company launched its QIP issue on Thursday and approved the floor price of Rs 136.05 per share. The floor price is at a discount of 0.18% to Thursday’s closing price. The fund raising committee of the board will meet on Feb. 15 to determine the issue price.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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