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

Asian shares rose after positive close on Wall Street on Friday, while the euro advanced as investors expected Europe to follow the Federal Reserve with more interest-rate hikes. Japanese and Australian equities gained about 1% and US futures advanced after the S&P 500 and Nasdaq 100 snapped three-week losing streaks on Friday. Markets in China, Hong Kong and South Korea are closed for holidays Monday. At 6:30 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.16% higher at 17,870.50 points. West Texas Intermediate crude slipped 0.9% to $86.02 a barrel.

Economic Calendar:

  • USD : CPI (MoM) (Aug) on 13th September, 2022
  • USD : Federal Budget Balance (Aug) on 13th September, 2022
  • INR : CPI (YoY) (Aug) on 12th September, 2022
  • INR : WPI Inflation (YoY) (Aug) on 13th September, 2022

Who’s Meeting Whom:

Shankara Building Products: To meet investors and analysts on Sept. 12.

Precision Camshafts: To meet investors and analysts on Sept. 12.

Capri Global Capital: To meet investors and analysts on Sept. 12.

Delhivery: To meet investors and analysts on Sept. 12.

Brokerage Radar:

CITI ON INFOSYS: BUY, TP Rs. 1,725; Takeaways from Citi GEMS Conference; Management remains confident on delivering FY23 revenue guidance of 14% to 16% despite macro challenges; Margins will likely be at bottom end of guidance band of 21% to 23% in FY23

ANTIQUE ON HAL: BUY, TP Rs. 3,140; Play on India’s defense aerospace capex; Robust rev visibility; strong order book, pipeline to ensure long term growth; Exports emerging as new growth driver; Stk at 19x its FY24 EPS is attractively valued

NOMURA ON MEDPLUS HEALTH: BUY, TP Rs. 925; Play on expanding organised pharma retail; 2nd-largest retail pharmacy chain in India; expanding aggressively; Expect rev growth to accelerate, EBITDA margin to expand from current low base; Forecast rev CAGR of 26.9% over FY22-25F

International Markets:

U.S & Europe:

Particulars 09thSeptember Chg. Chg.(%)
Nasdaq 12112.31 250.18 2.11
Dow 32151.71 377.19 1.19
FTSE 7351.07 89.01 1.23
CAC 6212.33 86.43 1.41
DAX 13088.21 183.89 1.43
Dow Fut.* 32179.90 28.20 0.09

Asian markets:

Particulars 12thSeptember Chg. Chg.(%)
SGX Nifty 17857.00 15.00 0.08
Nikkei 28528.90 314.15 1.11
Straits Times 3273.30 10.35 0.32
Hang Seng 19362.25 507.63 2.69
Shanghai 3262.05 26.46 0.82

ADR Watch:

Particulars 09th September  Chg. Chg.(%)
Dr. Reddy 53.47 0.12 0.22
HDFC Bank 64.45 0.05 0.08
ICICI Bank 23.00 0.00 0.00
Infosys 19.06 0.53 2.86
Tata Motor 28.14 0.26 0.93
Wipro 5.22 0.09 1.75

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.58 -0.16
Brent 91.50 -1.44
Gold 1723.60 -0.29
Silver 18.800 0.18

FIIs & DIIs:

Particulars 09th September 08th September
FIIs  2132.42 2913.09
DIIs -1167.56 -212.61

News Update:

Reliance Industries: Reliance Industries said its subsidiary Reliance Petroleum Retail will acquire polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex for Rs 1,592 crore. The acquisitions, which will be done by way of slump sale on going concern basis, are subject to approval of the Competition Commission of India.

Oberoi Realty: The company has approved scheme of amalgamation its four subsidiary companies – Oberoi Constructions, Oberoi Mall, Evenstar Hotels and Incline Realty. The rationale for the move was the similar nature of business of the companies and creating a simplified structure with greater management focus.

SpiceJet: The company has appointed Ashish Kumar as its new Chief Financial Officer. Kumar has served as Vice President (Head) – Corporate Finance at Interglobe Enterprises since January 2019. He also served as Chief Financial Officer at Interglobe Hotels from 2014 to 2018.

KEC International/Gujarat Industries Power: Gujarat Industries Power awarded an EPC Contract to KEC International at the cost of Rs 244 crores for Pooling Sub-station 400/33 KV, 1200 MW of Solar / Wind / Hybrid RE Park of 2375 MW capacity at Great Rann of Kutch area, Gujarat.

Bank of Baroda: The bank hiked the Marginal Cost of Funds Based Lending Rate from 5-15 bps across tenors with effect from Sept. 12

Indian Overseas Bank: The lender has hiked MCLR by 10 basis points across tenors, with effect from Sept. 10.

Ujjivan Small Finance Bank: The small finance bank has issued non-convertible debentures of Rs 75 crore. The final redemption date for NCDs would be April 26, 2028 and the coupon rate is 11.95 percent.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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