Market View 13th Nov, 2024

View on market: Volatility Prevails, Market is searching for better value

Asian-Pacific equities declined in early Wednesday’s trade as the Trump-fueled surge put off to await data on US inflation. US markets too began the Tuesday sessions little changed after several gains, with worries that the ‘Trump trade’ is running out of stream. Tuesday marked the fourth day of a decline in the Indian stock market, with the NSE Nifty 50 and BSE Sensex eroding their value to lows not seen since late January. The numbers were pulled down by HDFC Bank and the State Bank of India, among others. Markets were dragged lower by a weak showing in Reliance Industries and HDFC Bank. Weaknesses in broad-based markets, namely the US market, Asia, and Europe, were caused by uncertainties about the pace of tapering the stimulus program in the US. This sentiment reached out to the Indian stocks, making a contribution to the current week’s market frailty.

Economic Calendar:

• USD: CPI Index (Oct) on 13th November 2024.
• IND: WPI Inflation (YoY) (Oct) on 14^th  November 2024.
• USD: Export and Import Price Index (YoY) (Oct) on 15th November 2024.
• IND: Import and Export (USD) (OCT) 15^th November 2024.

IPO Watch:

Brokerage Radar:

MACQUARIE ON NTPC:

Initiate Outperform with target price of Rs 475,  Play on energy security and transition,  NTPC benefits from both energy-security and energy-transition themes, It offers an attractive mix of regulated capex + renewables exposure, Predominantly brownfield nature of upcoming thermal capacity addition reduces execution slippage risks.

MACQUARIE ON PFC:

Initiate Outperform with target price of Rs 630, Cyclical play with cheap valuations,  Regulatory overhaul on account of cyclical power shortage has reduced credit risk and boosted growth momentum for power financiers ite th Despite recent rally, expect PFC to rerate the re given asset resolutions, lower slippages and increasing renewable mix, Risk reward for PFC is more favourable than REC.

GOLDMAN SACHS ON UNO MINDA:

Maintain Buy with target price of Rs 1350, Q2 beat: E2W pickup  premiumization supporting visibility, Management maintained guidance for 11% +/- 50 bps EBITDA margin in FY25, Like Uno Minda’s position as a power train agnostic play on automotive megatrends of premiumization / personalization and sed electrification.

International Markets:

U.S & Europe:

*As per 13^th November.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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