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

Asian stocks rose after a rebound in the U.S. equities after Federal Reserve Chair Jerome Powell reassured investors the central bank will contain price pressures. Shares in Japan, Australia and South Korea gained. U.S. futures were volatile after the S&P 500 halted a five-day slide. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.82% to 18,239 as of 8:30 a.m. Elsewhere, Bitcoin traded above $42,500. Oil prices rose ahead of EIA crude oil inventory report, due today.

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: Wipro, Infosys, TCS

Results:

Delta Corp : The company reported a higher consolidated profit at Rs 70.38 crore in Q3FY22 against Rs 1.28 crore in Q3FY21, while revenue jumped to Rs 247.22 crore from Rs 120.82 crore YoY.

Vikas Lifecare : The company has posted consolidated profit at Rs 2.82 crore in Q3FY22 against Rs 0.06 crore in Q3FY21. Its revenue rose to Rs 106.74 crore from Rs 9.43 crore YoY.

Brokerage Radar:

JP MORGAN ON DLF: Overweight, Target Price of Rs 445 Delhi launch sees sell out response 2022 could see twin engines firing Initial sales imply Co will easily beat its full-year pre-sales guidance of Rs 40bn, will likely deliver > Rs 50bn in pre-sales, highest since F12.

CITI ON SUN PHARMA: Buy, TP Rs 1000 Expect co’s global specialty sales to touch $970m by FY24E (vs $470m in 21), which would result in strong earnings growth Dependence on US generics has come down, while generic pipeline has interesting assets & optionality value.

UBS ON VODA IDEA: Neutral, TP Rs 12.3 VIL opts for conversion of interest to equity, not a surprise Final amount to be confirmed by DOT, some downside risk Post equity conversion, Govt will be the largest shareholder as well as creditor for VIL.

MACQUARIE ON SBI CARDS: Outperformer, Target Price Rs 1230 15% underperformance vs BK Nifty since RBI’s Dec announcement CMP already factors in 35-40bp regulatory cut in interchange fees, which reasonably factors in uncertainty on pricing New-age cards & BNPLs are still less than 5% of card spend.

International Markets:

U.S & Europe

Particulars 11th Jan Chg Chg(%)
Nasdaq 15,153.45 210.62 1.41
Dow 36252.02 183.15  0.51
FTSE 7,491.37 46.12 0.62
CAC 7,183.38 67.61 0.95
DAX 15,941.81 173.54 1.1
Dow Fut.* 36279.5 27.5 0.08

Asian markets:

Particulars 12th Jan Chg. Chg(%)
SGX Nifty 18,239.00 148 0.82
Nikkei 28,748.21 525.73 1.86
Straits Times 3,251.93 5.56 0.17
Hang Seng 24,162.30 423.24 1.78
Shanghai 3,576.38 8.94 0.25

ADR Watch:

Particulars 11th 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 73.90 -0.18
Brent 83.85 0.26
Gold 1819.10 0.03
Silver 22.758 -0.24

FIIs & DII

Particulars 12th Jan 11th Jan
FIIs 111.91 -124.23
DIIs 378.74     481.55

News Update:

DLF : The company clocked sales worth Rs 1,500 crore for its initial offering in ONE Midtown, a newly launched luxury residential project in New Delhi.

Tata Teleservices Maharashtra : The company will convert interest on AGR, spectrum dues into equity. After conversion, Government will hold a 9.5 percent stake in the company.

UltraTech Cement : The company announced the commissioning of Line II of the Bara Grinding Unit in Uttar Pradesh, having a cement capacity of 2 mtpa (million tonnes per annum). The Line I was earlier commissioned in January 2020 and is already operating at a capacity utilisation in excess of 80 percent.

RITES : The company has signed an agreement with SMEC Group to cooperate and explore infrastructure projects.

Federal Bank: The board of directors of Fedbank Financial Services, a subsidiary of Federal Bank, has approved initiating the process of an initial public offering by way of fresh issue and offer for sale.

PI Industries : Life Insurance Corporation of India acquired 72,000 equity shares in the company through open market transactions on January 10. Post this, LIC’s shareholding rose to 5.03 percent from 4.98 percent earlier.

Indian Railway Finance Corporation : The company has appointed Joint Lead Managers and Joint Bookrunners for its $700 crore global medium-term note programme. The proceeds of the Notes will be allocated to eligible green assets under the issuer’s Green Financing Framework.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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