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

Asian stocks and U.S. equity futures rose Monday on hopes that the global economic recovery can weather the omicron virus variant as well as tighter central bank policies to fight elevated inflation. Shares climbed in Japan, Australia and South Korea. S&P 500 futures were in the green after the gauge closed at a record high Friday following a U.S. inflation print that was high but in line with ex expectations. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.82% to 17,688, as of 8:05

Economic Calendar:

  • INR: Inflation Rate YoY Nov on 13th December, 2021.
  • INR: WPI Inflation YoY Nov on 14th December, 2021.
  • USD: Retail Sale MoM (Nov) on 15th December, 2021.
  • USD: Fed Interest Rate Decision 16th December, 2021.

Brokerage Radar:

JEFFERIES ON BHARTI AIRTEL: Maintain Buy for the target price of Rs 925 Recent 9% fall from peak offers a more attractive entry point Firstly they fell, a comparison of Arpu/per capita GDP ratio in 45 countries suggests that there is sufficient headroom for Arpus to rise further. Secondly, 5G auction is unlikely in 2022 & an ample supply with a set auction calendar could lead to a more disciplined spectrum capex in future Lastly, valuations are reasonable relative to growth.

JP MORGAN ON RELIANCE: Maintain Neutral, with target price of Rs 2575 with key catalysts out of way, any material stake O-P would have to wait for next set of potential catalysts (listing of Jio/Retail, New Energy stake sales) which, is still some time away Earnings trajectory depends on O2C in FY23.

INVESTEC ON DR REDDYS:Maintain Buy, with target price of Rs 5375 gNuvaring approval: a Positive Surprise for DRL will enter as 3rd generic (4th player) Price erosion would be in 65-70% range implying a $270-300m market opportunity Expect this to be a $40-50m peak sales opportunity for DRL at a 15% peak share.

CLSA ON LUPIN: CLSA has given overweight rating to Lupin with target price of Rs. 950, Diagnostics becomes operational To open 100 labs & 1,000 collection centres across India in 3yrs Lupin does not expect its diagnostic foray to be a drag on company profitability & will share more detail as it scales-up operations.

International Markets:

U.S & Europe

Particulars 10th Dec Chg Chg(%)
Nasdaq 15,630.60 113.23 0.73
Dow 35,970.99 216.30 0.60
FTSE 7,291.78 -29.48 -0.4
CAC 6,991.68 -16.55 -0.24
DAX 15,623.31 -15.95 -0.1
Dow Fut.* 36099.60 128.60 0.36

*As per 13th Dec.

Asian markets:

Particulars 10th Dec Chg Chg(%)
SGX Nifty 17,669.00 +58.00 +0.33
Nikkei 28,712.50 +274.73 +0.97
Straits Times 3,145.12 +9.76 +0.31
Hang Seng 24,200.50 +204.78 +0.85
Shanghai 3,696.61 +30.26 +0.83

ADR Watch:

Particulars 10th Dec Chg Chg(%)
Dr Reddy 60.44 -0.15 -0.25
HDFC Bank 65.34 -0.33 -0.5
ICICI Bank 19.9 -0.1 -0.5
Infosys 23.19 -0.06 -0.26
Tata Motor 32.75 0.61 1.9
Wipro 8.67 -0.04 -0.46

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.77 0.32
Brent 76.18 1.37
Gold 1786.15 0.08
Silver 22.290 0.43

FIIs & DII

Particulars 10thDec 9thDec
FIIs -1092.40 -1585.55
DIIs 386.63 782.84

News Update:

Zensar Technologies: The company’s board of directors has approved mutual termination of the agreement entered between Marina Holdco and Zensar Technologies in 2015. With this, the non-executive director, Shashank Singh, who was a nominee of Marina on the Board, has resigned from the Board and its committees and has ceased to hold the office of director.

Antony Waste Handling Cell |: The company’s material subsidiary, AG Enviro Infra Projects has received a letter of intent for contract namely ‘door to door collection and transportation of municipal solid waste to a disposal site and operation & maintenance of equipment/machineries’ from the city – Sadar Paharganj Zone of North Delhi Municipal Corporation..

Vedanta: The company has approved a second interim dividend of Rs 13.50 per equity share on the face value of Re 1 per share for FY22, amounting to Rs 5,019 crore.

Burger King India: The company’s board of directors will meet on December 15 to consider the proposal to raise funds via a further issue of securities through public and/or private offerings or other permissible modes in one or more tranches.

Kopran: Indian Patent office has granted process patent number for 20 years to the company’s wholly-owned subsidiary Kopran Research Laboratories for the active pharmaceutical ingredient product Nitroxoline.

IIFL Securities: The company will sell its entire stake of 21.47 percent in Giscard Datatech (Tendlyne), an associate of the company, to IIFL Capital Enhance Fund (AIF Category II). With this, Tendlyne will cease to be an associate of the company

Minda Industries: The company has entered into a joint venture agreement with FRIWO AG Germany to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components in the Indian subcontinent. The company will hold a majority stake of 50.1 percent in the joint venture entity

Alembic Pharmaceuticals: The company has announced that it has made a strategic investment in RIGlmmune Inc, a biopharmaceutical research company co-founded by two prominent Yale University professors

Globus Spirits: The Company has resumed its operation at its plant located in Dhudhua, Bihar which was temporarily disrupted owing to flooding and water-logging at the factory premises caused by heavy rains since August 15, 2021.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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