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

U.S. Treasuries extended a selloff Friday on concern about high inflation and the prospect of faster monetary-policy tightening. Asian stocks rose after a rebound in Chinese shares bolstered sentiment. The 10-year U.S. Treasury yield increased as much as three basis points when trading resumed following a holiday. The yield spread between the 5-year & 30-year maturities narrowed. SGX Nifty added 0.27% to 17,975.50, 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: JOLTs Job Openings (Sept) on 12th November, 2021.

Earnings: Coal India, Hero Motocorp, Hindalco Industries, ONGC, Grasim Industries, Bharat Forge, Borosil, Apollo Hospitals Enterprise, BEML, National Aluminium Co., PI Industries, Alkem Laboratories, Motherson Sumi Systems, Ashok Leyland, Glenmark Pharmaceuticals, 3M India, Abbott India, Burger King India, Fine Organic Industries, Max Healthcare Institute, Mindspace Business Parks REIT, Agarwal Industrial Corporation, Akzo Nobel India, Alembic, Avanti Feeds, Linde India, Mrs. Bectors Food Specialities, City Union Bank, Camlin Fine Sciences, Coffee Day Enterprises, EIH, Future Consumer, Fiem Industries, Finolex Cables, Force Motors, Gabriel India, GR Infraprojects, Granules India, Globus Spirits, IRCON International, IOL Chemicals & Pharmaceuticals, Insecticides (India), Ingersoll-Rand (India), Himadri Speciality Chemical, Honda India Power Products, Hindustan Foods, Hinduja Global Solutions, ITI, India Tourism Development Corporation, ISGEC Heavy Engineering, KIOCL, Kaveri Seed Company, KNR Constructions, MSTC, NBCC (India), Nesco, National Fertilizers, Paras Defence and Space Technologies, RPSG Ventures, Religare Enterprises, Puravankara, SEAMEC, Sandhar Technologies, SML Isuzu, SJVN, Time Technoplast, Technocraft Industries (India), Tide Water Oil (India), Thomas Cook (India), Themis Medicare, TeamLease Services, Tasty Bite Eatables, Suzlon Energy.

Results:

Tata Steel Q2FY22 (Consolidated, QoQ): Revenue up 12.9% at Rs 60,282.78 crore Vs Rs 53,371.81 crore. Net profit up 33.8% at Rs 11,918.11 crore Vs Rs 8,906.95 crore. Ebitda up 2.1% at Rs 16,456.12 crore Vs Rs 16,110.46 crore. Margin at 27.3% vs 30.2%.

Balkrishna Industries Q2FY22 (Consolidated, YoY): Revenue up 31% at Rs 2,072.23 crore Vs Rs 1,577.90 crore Net profit up 15% at Rs 391.03 crore Vs Rs 340.94 crore Ebitda at Rs 537.85 crore Vs Rs 539.97 crore Margin at 26% Vs 34.2% Declared second interim dividend of Rs 4 per share.

Zee Entertainment Enterprises Q2FY22 (Consolidate, YoY): Revenue up 15% at Rs 1,978.79 crore Vs Rs 1,722.70 crore Net profit at Rs 266.08 crore Vs Rs 93.41 crore Ebitda up 38% at Rs 403.33 crore Vs Rs 292.94 crore Margin 20.4% Vs 17%

International Markets:

U.S & Europe

Particulars 11th Nov Chg Chg(%)
Nasdaq 15,704.28 81.57 0.52
Dow 35,921.23 -158.71 -0.44
FTSE 7,384.18 44.03 0.60
CAC 7,059.55 14.39 0.20
DAX 16,083.11 15.28 0.10
Dow Fut.* 35,909.00 80.00 0.22

Asian markets:

Particulars 12th Nov Chg Chg(%)
SGX Nifty 17,975.50 49.00 0.27
Nikkei 29,612.21 334.35 1.14
Straits Times 3,243.71 5.64 0.17
Hang Seng 25,346.46 98.47 0.39
Shanghai 3,531.32 -1.47 -0.04

ADR Watch:

Particulars 11th 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 74.51  0.17
Brent 82.47 -0.10
Gold 1858.90 -0.27
Silver 25.198 -0.41

FIIs & DII

Particulars 11th Nov 10th Nov
FIIs -1637.46 -469.50
DIIs 445.76 766.95

Brokerage Radar:

JEFFRIES ON GODREJ CONS: Maintain buy at the price of Rs 950 for the target price of Rs 1190. Severe margin pressure with a massive contraction in India gross margin. Impact was arrested at EBITDA level through acute cost focus. Volatility persists as Indonesia & India HI was weak. New CEO, Sudhir Sitapati refrained from giving details on his plan & strategy.

CLSA ON TATA STEEL: Maintain buy at the price of Rs 1299 for the target price of Rs 1950. Weak domestic offsets strong Europe. Q2 EBITDA slightly below expectations on lower standalone profitability. Net debt fell 5,100 cr QoQ, with FCF impacted by 3,900 cr. Mgmt expects Asian steel prices to remain rangebound.

News Update:

Sun Pharmaceutical Industries: The company is gearing up to introduce Merck Sharpe Dohme and Ridgeback’s molnupiravir under the brand name Molxvir in India. The DCGI is currently reviewing clinical data of molnupiravir for the treatment of Covid-19 in adults in India, the company said.

Firstsource Solutions: Sourcepoint, a Firstsource company, has entered into a definitive agreement to acquire The StoneHill Group, subject to regulatory approvals.

RailTel Corporation of India: The Content on Demand contract awarded to Margo Networks for providing COD service in all Mail/Express and Suburban trains and all Wi-Fi enabled railway stations on a build-own-operate basis for 10 years has been terminated by RailTel due to non-performance by the contractor.

Tata Power Company: Moody’s Investors Service has upgraded the rating of the company to Ba2 with stable outlook from Ba3 with stable outlook.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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