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

Most Asian stocks dipped Tuesday on concerns about elevated inflation stoked by energy costs and the possibility of a widening Chinese crackdown on private industry. Treasury yields were steady. Shares fell in Japan and South Korea, but edged up in Australia. U.S. futures retreated after the S&P 500 and Nasdaq 100 declined for a second day. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.52% to 17,867 as of 8:10 a.m.

Economic Calender:

  • INR: CPI (YoY) (Sept) on 12th October, 2021.
  • INR: Cumulative Industrial Production (Aug) on 12th October, 2021.
  • INR: WPI Inflation (YoY) (Sept) on 14th October, 2021.
  • USD: Core CPI (MoM) (Sep) on 13th October, 2021.
  • USD: PPI (MoM) (Sep) on 14th October, 2021.

Earnings: GM Breweries, JTL Infra

Results:

HFCL Q2 FY22 (Consolidated, QoQ): Revenue down 7% at Rs 1,122.05 crore Vs Rs 1,206.87 crore Net profit down 7% at Rs 81.61 crore Vs Rs 87.83 crore Ebitda down 9% at Rs 169.15 crore Vs Rs 186.25 crore Margin at 15.1% Vs 15.4%.

Tata Metaliks Q2 FY22 (QoQ): Revenue up 7% at Rs 644.84 crore Vs Rs 602.97 crore Net profit down 42% at Rs 54.62 crore Vs Rs 94.72 crore Ebitda down 35% at Rs 99.79 crore Vs Rs 153.51 crore Margins at 15.5% Vs 25.5%

International Markets:

U.S & Europe

Particulars 11th Oct Chg Chg(%)
Nasdaq 14,486.20 -93.34 -0.64
Dow 34,496.06 -250.19 -0.72
FTSE 7,146.85 51.30 0.72
CAC 6,570.54 10.55 0.16
DAX 15,199.14 -6.99 -0.05
Dow Fut.* 34,247.00 -129.00 -0.38

Asian markets:

Particulars 12th Oct Chg Chg(%)
SGX Nifty 17,867.00 -94.00 -0.52
Nikkei 28,232.32 -265.88 -0.93
Straits Times 3,100.22 -13.27 -0.43
Hang Seng 25,112.97 -212.12 -0.84
Shanghai 3,568.99 -22.72 -0.63

ADR Watch:

Particulars 11th Oct Chg Chg(%)
Dr Reddy 64.44 0.12 0.19
HDFC Bank 72.60 -0.10 -0.14
ICICI Bank 18.77 0.15 0.81
Infosys 21.82 -0.11 -0.50
Tata Motor 28.06 1.71 6.49
Wipro 8.83 0.01 0.11

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.48 0.37
Brent 83.55 -0.12
Gold 1759.05 0.19
Silver 22.642 -0.10

FIIs & DII

Particulars 11th Oct 8th Oct
FIIs -1303.22 -64.01
DIIs -373.28 -168.19

Brokerage Radar:

CLSA ON BHARTI AIRTEL: Maintain buy at the price of Rs 691 for the target price of Rs 810. Cashback offer on 150 smartphones; likely to be ARPU accretive. Cashback offer will boost 4G subscriber additions & reduce churn. Timing is a positive too ahead of Jiophone next launch in November. Retain their Bharti forecasts of over 50% EBITDA growth By FY24.

GOLDMAN SACHS ON RADICO KHAITAN: Maintain buy at the price of Rs 1022 for the target price of Rs 1144. Co has launched magic moments dazzle vodka & royal Ranthambore whisky. Both products will potentially fill up a couple of the product gaps. New launches will allow co to further build on the brand goodwill.

News Update:

Adani Green Energy: Total Operational Capacity nearly doubled to 5,410 MW on YoY basis. Sale of Energy up by 61% YoY at 1,901 million units in Q2 FY22 versus 1,182 million units in Q2 FY21.

Tata Motors: Tata Motors Group global wholesales in Q2 FY22, including Jaguar Land Rover, were at 2,51,689 units, up 24% year-on-year. Global wholesales of commercial vehicles and Tata Daewoo range were at 89,055 units, up 57% YoY. Global wholesales of passenger vehicles were at 1,62,634 units, up 11% YoY. Global wholesales for Jaguar Land Rover were 78,251 units.

Ujjivan Small Finance Bank: Total deposits up 31% year-on-year at Rs 14,090 crore in Q2 FY22 compared to Rs 10,743 crore last year. CASA Ratio at 22% compared to 16% last year. Gross loan book up 4% at Rs 14,508 crore Vs Rs 13,890 crore.

PI Industries: The company has executed two joint venture agreements with Polymath Holdings, LLC for undertaking the business of manufacturing and selling the products for biochemistry processes and biochemical-enabled pharmaceutical intermediates.

Zee Entertainment Enterprises: In an open letter to the Zee Entertainment’s shareholders, Invesco Fund has raised questions regarding its management, governance and value destruction.

TVS Group stocks: Competition Commission of India has approved internal restructuring of TVS Group.

HCL Technologies: The company has partnered with Google Cloud to launch healthcare and life sciences solutions for customers.

Hero MotoCorp: Aligned to its aggressive growth strategy in the scooter segment, Hero MotoCorp has launched the new Pleasure+ ‘XTec’.

Rane Madras:The company will acquire steering and components division of Yagachi Technologies which is a part of the Hical Group.

Vodafone Idea: Aditya Birla Group chairman Kumar Mangalam Birla is considering infusing some of his own capital into Vodafone Idea while the Vodafone Group may sell at least a part of its stake in tower firm – Indus Towers – and channel the proceeds into the loss-making telco. This will be followed by external funding, said a media report.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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