Market-View-Feature-Image

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

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