View on market: Stay Cautious, be with quality business:
Asian stocks were mixed Thursday after the hottest U.S. inflation print in three decades hurt Wall Street shares and sparked a jump in Treasury yields amid concern monetary policy will be tightened more quickly. Equities rose in Japan and China and fluctuated in Hong Kong. The S&P 500 dropped and the Nasdaq 100 underperformed. The Singapore-traded SGX Nifty shed 0.25% to 17,970, as of 8:05 a.m.
Economic Calender:
- INR: CPI (YoY) (Oct) on 12th November, 2021.
- INR: Manufacturing Output (MoM) (Sep) on 12th November, 2021.
- USD: Federal Budget Balance (Oct) on 11th November, 2021.
- USD: JOLTs Job Openings (Sept) on 12th November, 2021.
Earnings: Tata Steel, NMDC, Godrej Consumer Products, Hindustan Aeronautics, Zee Entertainment Enterprises, Balkrishna Industries, NHPC, Natco Pharma, Acrysil, Cesc, Minda Industries, NLC India, Novartis India, Page Industries, Piramal Enterprises, Power Finance Corporation, Aptech, Astral, Bajaj Hindusthan Sugar, Bharat Dynamics, Brigade Enterprises, Clean Science and Technology, Endurance Technologies, Engineers India, FDC, Federal-Mogul Goetze (India), GOCL Corporation, Goodyear India, Gujarat Pipavav Port, GTL Infrastructure, Heranba Industries, Housing & Urban Development Corporation, IFCI, India Infrastructure Trust, JB Chemicals & Pharmaceuticals, JBM Auto, Jtekt India, Kama Holdings, KCP, Lloyds Metals and Energy, Maithan Alloys, Matrimony.com, Mukand, The New India Assurance Company, PNB Gilts, Prestige Estates Projects, PTC India, RailTel Corporation of India, Rites, Schneider Electric Infrastructure, Somany Ceramics, Sundram Fasteners, Suryoday Small Finance Bank, TVS Srichakra, Varroc Engineering.
Results:
Pidilite Industries Q2FY22 (Consolidated, YoY): Revenue up 40% at Rs 2,626.35 crore Vs Rs 1,880.33 crore. PAT 5% at Rs 375.53 crore Vs Rs 356.44 crore Ebitda up 7% at Rs 549.59 crore Vs Rs 512.64 crore Margin at 20.9% Vs 27.3% CFO Pradip Menon has resigned from the post. He will be relieved from the duty w.e.f December 20, 2021.
Berger Paints India Q2FY22 (Consolidated, YoY): Revenue up 28% at Rs 2,225.01 crore Vs Rs 1,742.55 crore Net profit down 1% at Rs 219.21 crore Vs Rs 221.05 crore Ebitda up 6% at Rs 353.99 crore Vs Rs 335.21 crore Margin at 15.9% Vs 19.2%.
Affle (India) Q2FY22 (Consolidated, YoY):Revenue at Rs 274.70 crore Vs Rs 134.95 crore Net profit up 77% at Rs 47.81 crore Vs Rs 26.97 crore Ebitda up 51% at Rs 52.01 crore Vs Rs 34.39 crore Margin at 18.9% Vs 25.5%
Brokerage Radar:
GS ON ZOMATO: Maintain buy at the price of Rs 136 for the target price of Rs 185. Beat driven by strong user acquisition. Raise FY22 GOV/revenue estimates by 13%/9%. Market is likely to reward growth over profitability for foreseeable future. Forecast a 51% FY21-25 CAGR for Zomato’s GOV (46% earlier). Well-positioned to capture accelerated shift to online in food delivery.
CLSA ON BANK OF BARODA: Maintain buy at the price of Rs 100 for the target price of Rs 140. Sharp beat in EBITDA margin is impressive leading to a 13% EBITDA beat. Near-term volume outlook will be helped by re opening. Build in a near double-digit volume CAGR over FY 20-24 expect co to maintain margin amid rising APM gas costs ahead.
International Markets:
U.S & Europe
| Particulars | 10th Nov | Chg | Chg(%) |
| Nasdaq | 15,622.70 | -263.84 | -1.66 |
| Dow | 36,079.94 | -240.04 | -0.66 |
| FTSE | 7,340.15 | 66.11 | 0.91 |
| CAC | 7,045.16 | 1.89 | 0.03 |
| DAX | 16,067.83 | 27.36 | 0.17 |
| Dow Fut.* | 36,022.00 | 30.00 | 0.08 |
Asian markets:
| Particulars | 11th Nov | Chg | Chg(%) |
| SGX Nifty | 17,970.00 | -45.50 | -0.25 |
| Nikkei | 29,321.88 | 215.10 | 0.74 |
| Straits Times | 3,222.90 | -8.42 | -0.26 |
| Hang Seng | 25,048.46 | 52.32 | 0.21 |
| Shanghai | 3,508.68 | 16.22 | 0.46 |
ADR Watch:
| Particulars | 10th Nov | Chg | Chg(%) |
| Dr Reddy | 64.66 | -0.17 | -0.26 |
| HDFC Bank | 72.11 | 0.13 | 0.18 |
| ICICI Bank | 21.11 | 0.07 | 0.33 |
| Infosys | 23.30 | -0.14 | -0.60 |
| Tata Motor | 33.61 | -0.47 | -1.38 |
| Wipro | 9.08 | -0.12 | -1.30 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.39 | 0.47 |
| Brent | 82.73 | 0.17 |
| Gold | 1846.55 | -0.09 |
| Silver | 24.672 | -0.39 |
FIIs & DII
| Particulars | 10th Nov | 9th Nov |
| FIIs | -469.50 | -2445.25 |
| DIIs | 766.95 | 1417.63 |
News Update:
Tata Motors: To plan for 20% EV penetration in 5 years. To expand portfolio of offering India specific products with different body styles and driving range. Tata Motors eyes 10 EVs by FY26.
Yes Bank: Moody’s Investors Service has upgraded Yes Bank’s rating to B2 from B3 and changed outlook to positive from stable. Moody’s upgraded the bank’s long-term foreign currency issuer rating and long-term foreign and local currency bank deposit ratings to B2 from B3. It has also upgraded the bank’s Baseline Credit Assessment and Adjusted BCA to b3 from caa2. Funding and liquidity have substantially improved for the bank in the past year, which have strengthened depositor and credit confidence, Moody’s said.
Power Grid Corporation of India: Approved capital expenditure for procurement of telecom equipment at an estimated cost of Rs 429.24 crore. It also approved Regional System Strengthening Scheme to mitigate the overloading of 400 kV NP Kunta-Kolar S/C line at an estimated cost of Rs 122.71 crore including IDC of Rs 3.39 crore.
Alembic Pharmaceuticals: U.S. FDA conducted an inspection at the company’s injectable facility at Karkhadi from October 28 to November 10. The FDA issued a Form 483 with 10 observations. The company is preparing the response to the observations
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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