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

Stocks extended decline Tuesday amid a surge in bond yields due to anticipation of sharper Federal Reserve interest-rate hikes to fight inflation. Shares shed over 1% in Japan and South Korea and tumbled more than 5% in Australia. US futures steadied in the wake of a three-day rout in the S&P 500 of nearly 9%. The Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 –fell more than 0.5% to 15,689.5 points as of 6:30 am. Traders now see about 200 basis points of tightening by the Fed’s September decision and the possibility of a 75 basis-point hike. Crude oil held above $120 a barrel. The dollar hovered around a two-year high and the yen edged up from a 24-year low against the greenback.Bitcoin slid below $23,000, in part as a digital-asset lending platform paused operations.

Economic Calendar:

  • INR: WPI Inflation on 14th June 2022.
  • INR: Bank Loan Growth on 17th June 2022.
  • USD: OPEC Monthly Report 14th June, 2022.
  • USD: US Interest Rate 15th June, 2022.

Brokerage Radar:

MACQUARIE ON ZOMATO: Initiate U-P, TP Rs 55 Expect to maintain dominant position in a potentially large food delivery market; TAM $25bn by FY33E However, against sharp 5x expansion in transacting users based on FY33 consensus forecasts, highlight lack of any momentum in user adds, Profitability is a function of scale, & this growth concern is corroborated with ongoing soft Apptopia metrics Despite 60% share price decline (vs index -15%), see further downside

International Markets:

U.S & Europe:

Particulars      13th June    Chg Chg(%)
Nasdaq 10,809.22 -530.8 -4.68
Dow 30516.74 -876.05 -2.79
FTSE 7,205.81 -111.71 -1.53
CAC 6,022.32 -164.91 -2.67
DAX 13,427.03 -334.8 -2.43
Dow Fut.* 30668.0  150.6  0.50

Asian markets:

Particulars    14th June    Chg. Chg(%)
SGX Nifty 15,692.00 -86.5 -0.55
Nikkei 26,446.82 -540.62 -2
Straits Times 3,106.13 -33.22 -1.06
Hang Seng 20,928.37 -139.21 -0.66
Shanghai 3,240.26 -15.29 -0.47

ADR Watch:

Particulars     13th June Chg. Chg.(%)
Dr Reddy 55.84 0.57 1.03
HDFC Bank 52.65 -2.72 -4.91
ICICI Bank 17.22 -0.68 -3.8
Infosys 17.85 -0.48 -2.62
Tata Motor 25.38 -1.27 -4.77
Wipro 5.55 -0.15 -2.63

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 78.04    0.26
Brent 120.42    -1.34
Gold 1867.35   -0.45
Silver 21.672   -1.91


Particulars       13th June                                  10th June
FIIs -4164.01                         -3973.95                       
DIIs  2814.50   2831.07

News Update:

Torrent Power: The company has completed acquisition of 50 MW Solar Power Plant in the state of Telangana with enterprise value of Rs 416 crore. Long-term power purchase agreement for the project is with Northern Power Distribution Company of Telangana for a period of 25 years at a fixed tariff of 5.35 per kWh, with remaining useful life of 20 years.

SREI Equipment Finance: RBI-appointed administrator has found instances of fraud in the company. Total loan amount involved in the fraud stood at Rs 2,512 crore, while notional loss to the company stood at Rs 513.67 crore. The administrator has filed an application with Kolkata NCLT against 14 respondents involved.

WPIL: The company has received an order from the Government of West Bengal for execution of a turnkey project, comprising of commissioning of a clear water reservoir. The contract is valued at Rs 430.87 crore and the same will be completed over a period of 24 months.

Dynamatic Technologies: The company has won the contract to manufacture the Escape Hatch Door for Airbus A220 aircraft. The contract was placed by recently established Stella Aeronautique Canada Inc., a subsidiary of Airbus Atlantic SAS.

Bajaj Finance: The company increased fixed deposit rates by 20 basis points.

Dr Reddys: US FDA Nod for Sorafenib Tosylate, Sorafenib Tosylate is used to treat Thyroid cancer

 Source: Moneycontrol, Livemint,, Bloomberg, Investing  

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