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

Asian stocks declined on Friday after several Federal Reserve officials hinted at aggressive steps to tackle the surge in inflation. The Nasdaq 100 fell to its lowest level since October. Australian, Japanese and Korean equities fell. Contracts in the U.S were little-changed after American stocks tumbled Thursday, led by technology companies. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.38% to 18,231 as of 8:30 a.m elsewhere, crude oil, copper and Bitcoin declined.

Economic Calendar:

  • INR: Bank Loan Growth on 14th January, 2022.
  • INR: WPI Inflation of Dec on 14th January 2022.
  • USD: Housing Permits on 19th January, 2022.
  • USD: Building Permits on 19th January, 2022.

Earnings: HCL Tech, Tinplate

Results:

Mindtree : The company reported a consolidated net profit of Rs 437.5 crore in the December quarter against Rs 398.9 crore in the September quarter. CNBC-TV18 Poll had estimated a net profit of Rs 430 crore. The company’s revenue came in at Rs 2,750 crore, slightly lower than the poll estimate of Rs 2,760 crore.

Plastiblends India : The company reported a higher profit at Rs 12.07 crore in December 2021 quarter against Rs 11.37 crore in December 2020 quarter. Revenue rose to Rs 174.14 crore from Rs 160.04 crore YoY.

Brokerage Radar:

CLSA ON INSURANCE: Expect HDFC Life to continue strong compounding (20% VNB Cagr) Expect IPRU to finally deliver APE growth over medium-term, while near-term could remain tough SBI Life top pick, TP Rs 1800, Reiterate BUY on Max Life – TP Rs 1350 , expect growth to improve after a muted past 3-6 months Upgrade HDFC Life from O-P to Buy, TP Raised to Rs 815 from Rs 790 Upgrade ICICI Pru Life from O-P to Buy, TP Rs 750.

JEFFERIES ON UTILITIES: Power ministry began its focus on transmission spend, required to cater to accelerating renewable energy (RE) generation capacity, only towards end of 2021 Power Grid is top pick Downgrade IEX to Underperform from Hold as competing exchange launch nears.

JEFFERIES ON BUILDING MATERIALS: After weak demand in past 3Y, expect growth to accelerate to 7% over FY22-24, led by better macro & gov’t initiatives Cement prices have been volatile recently, and next few months hold the key. ACC & Ambuja remain top picks.

MORGAN STANLEY ON MINDTREE: Equalweight, with Target Price of Rs 5100 Demand environment strong, but significant val premium to large-caps makes risk-reward balanced Any near-term volatility in stk could provide a better entry point given constructive management commentary on demand & margin.

JP MORGAN ON METALS: Continue to see consensus earnings upgrade risk for sector in general & steel in particular, given a)regional HRC steel prices did not go below $800/t even in low point of CY21 b)incrementally demand set to improve locally & globally, prices should move higher. Indian Metals/Steel Stocks Relative U/Perf v/s Global Peers Widens Sharply With China Off Lows, Risk Reward Attractive Remain OW on TATA, SAIL, HNDL, NMDC & see attractive risk reward from here.

International Markets:

U.S & Europe

Particulars 13th Jan Chg Chg(%)
Nasdaq 14,806.81 -381.58 -2.51
Dow 36113.62 -176.70 -0.49
FTSE 7,563.85 12.13 0.16
CAC 7,201.14 -36.05 -0.5
DAX 16,031.59 21.27 0.13
Dow Fut.* 36123.5 9.9 0.03

Asian markets:

Particulars   14th Jan    Chg. Chg(%)
SGX Nifty 18,231.50 -69 -0.38
Nikkei 27,945.70 -543.43 -1.91
Straits Times 3,270.42 13.12 0.4
Hang Seng 24,275.44 -154.33 -0.63
Shanghai 3,543.77 -11.49 -0.32

ADR Watch:

Particulars     14th Jan Chg. Chg.(%)
Dr Reddy 63.65 -0.29 -0.45
HDFC Bank 68.1 0.86 1.28
ICICI Bank 21.15 0.27 1.29
Infosys 24.11 -0.19 -0.78
Tata Motor 32.85 0.9 2.82
Wipro 9.55 0.04 0.42

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 73.88 -0.04
Brent 84.44 0.33
Gold 1824.75  0.18
Silver 23.137 -0.11

FIIs & DII

Particulars 13th Jan 12th Jan
FIIs -1390.85 -1001.57
DIIs 1065.32     1332.01    

News Update:

Titan Company : Rakesh Radheshyam Jhunjhunwala increased shareholding to 4.02 percent as of December 2021 quarter, up from 3.80 percent as of September 2021 quarter. His wife’s stake remained at 1.07 percent as of December 2021 quarter compared to September 2021 quarter.

Tata Motors : Tata Motors Group global wholesales in Q3 FY22, including Jaguar Land Rover, came in at 2,85,445 units, higher by 2 percent, as compared to Q3 FY21.

Tata Metaliks : The company reported lower profit at Rs 35.65 crore in December 2021 quarter against Rs 75.18 crore in December 2020 quarter, and revenue jumped to Rs 689.80 crore from Rs 526.23 crore YoY.

Vikas Lifecare : The company acquired a 75 percent stake in Genesis Gas Solutions.

Hindustan Aeronautics : ICRA has upgraded the company’s long term rating to AAA from AA+ and the outlook to ‘stable’ from ‘positive’.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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