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

U.S. stocks rose, extending last week’s gains, and the dollar retreated with risk sentiment buoyed by speculation that inflation is near peaking. The S&P 500 advanced with energy and tech sectors leading all 11 major industry groups higher. Elsewhere, crude oil and gold advanced on dollar’s descent. Bitcoin extended rally, climbing to a three-week high above $22,000 U.S. inflation data due Tuesday is expected to show headline CPI cooled in August. Back home, India’s stock benchmarks ended firm aided by gains in basic materials, information technology, realty, auto, and consumer durables stocks. Rupee ended higher against the dollar in a volatile session on Monday.

Economic Calendar:

  • USD : CPI (MoM) (Aug) on 13th September, 2022
  • USD : PPI (MoM) (Aug) on 14th September, 2022
  • INR : WPI Inflation (YoY) (Aug) on 13th September, 2022
  • INR : Trade Balance on 15th September, 2022

Who’s Meeting Whom:

ITC: To meet investors and analysts on Sept. 13 and 14.

Safari Industries: To meet investors and analysts on Sept. 13.

Persistent Systems: To meet investors and analysts between Sept. 12 and 16.

Sundram Fasteners: To meet investors and analysts between Sept. 14.

Brokerage Radar:

BOFA SEC ON M&M FIN: BUY, TP raised to Rs. 246; Growth outlook strong, AQ improving; raise earnings; Raise FY23-25 AUM growth forecasts by 0-5% & moderate credit costs leading to 1-5% rise in earnings forecasts; Multiple drivers to make AQ improvement sustainable

GS ON EMAMI: BUY, TP Rs. 565; Growth recovery likely in 2H; Sustained healthcare growth & distribution changes medium term +ve; Trades @26x; FY24 earnings, a 40% disc to avg FY24 PE of peers; Expect earnings growth to improve to 10%+ over FY23-25E

MACQUARIE ON TATA MOTORS: OP, TP Rs. 503; Plans to launch an EV version of smallest car- Tata Tiago; While see near-term challenges for JLR, believe; a) strong outlook for India PV & CV, ; b) leadership in E4W; c) margin upside; d) healthy order book for JLR bode well for earnings

International Markets:

U.S & Europe:

Particulars  12th     September Chg. Chg.(%)
Nasdaq 12266.41 154.10 1.27
Dow 32381.34 229.63 0.71
FTSE 7473.03 121.96 1.66
CAC 6333.59 121.26 1.95
DAX 13402.27 314.06 2.40
Dow Fut.* 32412.90 31.60 0.10

Asian markets:

Particulars 13th  September Chg. Chg.(%)
SGX Nifty 18044.50 103.00 0.57
Nikkei 28589.11 47.00 0.16
Straits Times 3285.41 10.69 0.33
Hang Seng 19406.15 43.90 0.23
Shanghai 3270.55 8.50 0.26

ADR Watch:

Particulars 12th September  Chg. Chg.(%)
Dr. Reddy 53.97 0.50 0.94
HDFC Bank 65.30 0.85 1.32
ICICI Bank 23.16 0.16 0.70
Infosys 19.24 0.18 0.94
Tata Motor 28.75 0.61 2.17
Wipro 5.29 0.07 1.34

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.52 -0.07
Brent 93.97 -0.03
Gold 1732.50 -0.47
Silver 19.633 -1.14

FIIs & DIIs:

Particulars 12th September 09th September
FIIs                           2049.65 2132.42
DIIs -890.51 -1167.56

News Update:

SH Kelkar and Co.: The company’s entire stake held in Keva U.K. has been purchased by Keva Europe B.V. for a consideration of 4.42 million pounds (over Rs 41 crore). Both entities are wholly owned subsidiaries of SH Kelkar and Co. and are related to each other. The transaction has been done at arm’s length based on the valuation report, the company said.

NDTV: The Income Tax Department has clarified that there is no restriction on conversion of warrants into shares by RRPR Holdings in favor of Vishvapradhan Commercial Pvt., the company told stock exchanges. This clears the way for the acquisition of the company by Adani group. In other news, NDTV has paid a penalty of Rs 10 lakh on SAT’s order alleged non-disclosure of a loan taken by the NDTV founder-promoters. The appellate tribunal had reduced the penalty from Rs 5 crore to Rs 10 lakh considering shareholders’ interest.

Adani Transmission: Reliance Infra has raised an arbitration claim on a December 2017 deal with Adani Transmission for sale of its Mumbai power transmission network. In response, Adani Transmission called the claim “afterthoughts”, based on untenable positions.

Future Enterprises: The company has appointed M/s. JC Kabra & Associates., Chartered Accountants to carry out forensic audit of the accounts of the company, in compliance with the extant RBI guidelines.

Tata Consultancy Services: Tata Consultancy Services to build a new platform on Google Cloud to enable faster, more predictable, and sustainable distribution for C&S Wholesale Grocers, Inc., a supply chain solutions and wholesale grocery supply major in the U.S.

 Source: Moneyontrol, Livemint,, Bloomberg, Investing

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