Market View 14th Nov, 2024

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

Asian and Pacific stocks were higher in early Thursday trading, buoyed by the latest information on US inflation rates encouraging the Federal Reserve to reduce interest rates. Yesterday it seemed that Bitcoin is going to continue the growth, reaching some important level for several times: it rose above $ 1,300. On the same note, American stock markets for the Wednesday started mixed after the stocks power up by the result of Donald Trump’s victory in the president election. Indian markets fell again for the fifth successive session with the NSE Nifty 50 and the BSE Sensex declining on Tuesday. Executives said that it declined because of the underperformance of shares that include HDFC Bank, Reliance Industries Limited, Mahindra & Mahindra Limited among others. Nifty 50 stocks slipped to the lowest level in several months while downs in the Sensex stopped at its lowest level since middle of the year. In general, the markets are on the back foot, mainly because of poor showings in various vital markets.

Economic Calendar:

• USD: Export and Import Price Index (YoY) (Oct) on 15th November 2024.
• IND: WPI Inflation (YoY) (Oct) on 14^th November 2024.
• USD: Initial Jobless Claim on 21^St November 2024.
• IND: Import and Export (USD) (OCT) 15^th November 2024.

IPO Watch:

Brokerage Radar:

ANTIQUE ON ALLIED BLENDERS:

Initiate Buy with target price of Rs 405,  Accelerating premiumization with new product launches and global tie-ups, Expanding mass popular in a profitable way; presence in high-margin states provide an edge, Backward integration, premiumization, and La cost rationalization to aid margin expansion, See revenue/ EBITDA CAGR of 9%/29% over FY24-27 driven by 13%/15% volume/ value growth in the P&A segment.

JPMORGAN ON APOLLO TYRES:

Maintain Overweight with target price of Rs 555, Q2 a weak quarter as expected, Commentary on pricing for H2 will be critical, Net debt increased likely due to seasonal working capital increase.

JEFFERIES ON SUNTECK REALTY:

Maintain Buy; Hike target price to Rs 700 from Rs 690, Good sales momentum; strong balance sheet, 30%+ Pre-sales growth continues,  FY25 launch pipeline puts on track for guidance, Stock trades at 11x embedded PAT to FY25 sales, and large project launches could provide trigger.

International Markets:

U.S & Europe:

*As per 14^th October.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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