View on market: Stay Cautious, be with quality business:
Asian stocks and U.S. equity futures rose Monday, amid inflation risks from commodity-supply disruptions ahead of the US Federal Reserve’s meeting, which could see the central bank raised interest rates by 25 basis points. Japanese and Australian shares advanced. Investors were parsing efforts at diplomacy to tackle the Russia-Ukraine conflict, as well as comments from a U.S. official that Russia asked China for military equipment. U.S. equity futures rose. Brent crude dipped to $110 per barrel. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50 index, fell 0.66% to 16,539.50 points as of 8:25 am. A dollar gauge and the yen slipped, while the euro edged up. The Russian ruble was indicated slightly stronger versus the greenback. Gold retreated further from $2,000 an ounce. Bitcoin fell below $38,000.
Economic Calendar:
- INR: CPI Inflation on 14th March 2022.
- INR: WPI Inflation on 14th March 2022.
- USD: FOMC Interest Decision on 16th March, 2022.
- USD: Philly Capex Index on 17th March, 2022.
Brokerage Radar:
CLSA ON ESCORTS: Initiate Buy, TP Rs 2196 Play on recovery in tractor cycle Expect strong growth (an 11% EPS Cagr in FY21-24) over next 3 yrs, led by revival in tractor vol Believe growth in construction & railways biz not priced in Kubota investment to open multiple growth.
MORGAN STANLEY ON ONE 97 COMMUNICATION (Paytm): Downgrade to EW from OW, TP Cut to Rs 935 from Rs 1425 RBI has stopped new customer acquisitions at Paytm payments bank owing to supervisory concerns – near-term biz impact is limited, but this increases regulatory uncertainty.
MORGAN STANLEY ON HDFC BANK: Overweight, TP Rs 2050 Bank has been working on new digital initiatives aside from ban & expect to roll them out over next few qtrs This, coupled with RBI move, should help reduce investor concerns around bank’s digital capabilities.
NOMURA ON HDFC BANK: Buy, TP Rs 1955 RBI lifts ban on Digital 2.0 after a year Focus to shift to NII and loan growth With this, think negative sentiment from a supervisory oversight ought to finally dissipate
International Markets:
U.S & Europe:
| Particulars | 11th Mar | Chg | Chg(%) |
| Nasdaq | 12,843.81 | -286.15 | -2.18 |
| Dow | 32944.19 | 229.88 | -0.69 |
| FTSE | 7,155.64 | 56.55 | 0.8 |
| CAC | 6,260.25 | 53.05 | 0.85 |
| DAX | 13,628.11 | 186.01 | 1.38 |
| Dow Fut.* | 33081.6 | 137.9 | 0.42 |
Asian markets:
| Particulars | 14th Mar | Chg. | Chg(%) |
| SGX Nifty | 16,539.50 | -110 | -0.66 |
| Nikkei | 25,337.39 | 174.61 | 0.69 |
| Straits Times | 3,237.39 | -12.27 | -0.38 |
| Hang Seng | 19,947.84 | -605.95 | -2.95 |
| Shanghai | 3,285.07 | -24.68 | -0.75 |
ADR Watch:
| Particulars | 11th Mar | Chg. | Chg.(%) |
| Dr Reddy | 50.86 | 0.3 | 0.59 |
| HDFC Bank | 56.87 | -0.46 | -0.8 |
| ICICI Bank | 17.61 | -0.05 | -0.28 |
| Infosys | 24.01 | 0.17 | 0.71 |
| Tata Motor | 26.2 | 0.08 | 0.31 |
| Wipro | 7.54 | -0.03 | -0.4 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.31 | -0.45 |
| Brent | 109.31 | -2.98 |
| Gold | 1976.75 | -0.42 |
| Silver | 25.878 | -1.07 |
FIIs & DII:
| Particulars | 11th Mar | 10th Mar |
| FIIs | -2263.90 | -1981.15 |
| DIIs | 1686.85 | 945.71 |
News Update:
Sobha: Vice Chairman and Managing Director Jagdish Chandra Sharma has tendered his resignation with effect from April 1, 2022.
Jubilant FoodWorks: Chief Executive Officer Pratik Rashmikant Pota resigned from the role and will continue till June 15, 2022.
GAIL India : The company approved second interim dividend of Rs 5 per equity share, 50% of the paid up share capital.
Lupin: The company received U.S. FDA approval for its Abbreviated New Drug Application (ANDA), Vigabatrin for Oral Solution USP, 500 mg to market a generic equivalent of Sabril for Oral Solution, 500 mg of Lundbeck Pharmaceuticals.
HDFC Bank: The Reserve Bank of India has allowed HDFC Bank to resume new digital initiatives, removing all previous curbs.
One 97 Communications: The Reserve Bank of India has barred Paytm Payments Bank from adding new customers.
Tech Mahindra: Acquires Thirdware Solutions for $42 million.
IDBI Bank: The lender has executed an investment agreement in National Asset Reconstruction Company for 5% stake.
Punjab & Sind Bank: The bank executed an investment agreement in National Asset Reconstruction Company for 2% stake for Rs 55 crore.
Torrent Power: The company has completed acquisition of Surya Vidyut that operates 156 MW Wind power plants spread across the states of Gujarat, Rajasthan, and Madhya Pradesh.
Prime Focus: Received NCLT approval for scheme of amalgamation of PF Digital Media Services with Prime Focus.
Dhanvarsha Finvest: The company will raise funds amounting to Rs 886,571,400 through issue of 2,301,641 equity shares at an issue price of Rs 132 per share (inclusive of premium of Rs 130 per share) and 4,414,809 convertible warrants at Rs 132 per warrant.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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