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

Asian equities advanced on Monday with support from the biggest weekly gain in US stocks since June and China’s policy shifts on Covid and property. The S&P 500 closed near session highs in the biggest weekly gain since June. The dollar slumped more than 1% on Friday in the biggest weekly drop since March 2020, causing the rupee to register strong gains. Cryptocurrencies resumed a selloff amid FTX’s deepening woes with Sam Bankman-Fried’s crypto empire filing for bankruptcy. Oil advanced for a third session as investors weighed the outlook for Chinese demand as the market tightens heading into winter. At 6:40 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — rose 0.28% to 18,488.

Economic Calendar:

  • USD : PPI (MoM) (Oct) on 15th November, 2022
  • USD : Retail Sales (MoM) (Oct) on 16th November, 2022
  • INR : CPI (YoY) (Oct) on 14th November, 2022
  • INR : WPI Inflation (YoY) (Oct) on 14th November, 2022

Q2FY23 Result Today: ONGC, Grasim Industries, Biocon, Bharat Forge, Apollo Tyres, IRCTC, Aarti Industries, Abbott India, Ahluwalia Contracts, Aarey Drugs & Pharmaceuticals, Balkrishna Industries, BGR Energy Systems, Birla Tyres, CESC, Dilip Buildcon, Godrej Industries, Greaves Cotton, HUDCO, Indiabulls Housing Finance, Jyothy Labs, Linde India, Lux Industries, Mindspace Business Parks REIT, NBCC (India), Radico Khaitan, Sobha, and SpiceJet

Brokerage Radar:

JPM ON HINDALCO: OW, TP cut to Rs 520; Cut FY23 EPS est. by 17% & FY24-25E by 9-10%; Near term stk should trade higher with LME Aluminum; Key +ve from analyst call- Co’s reiteration that capital spending would remain contained within operating cash flows

JEFFERIES ON CONCOR: Buy, TP raised to Rs 945; 2Q EBITDA in-line; 17% YoY vol growth linked operating leverage & lower LLF helped EBITDA margins improve 190 bps YoY to 25.3%; Co maintained FY23E vol guidance of 15-17% YoY growth; Privatisation near-term trigger

GS ON M&M: Buy, TP Rs 1640; XUV700 + Scorpio-N additional capacity to flow through in 2HFY24; Reported an in-line 2Q; Despite a higher diesel ratio due to its SUV dominant position, M&M has a relatively fresh product portfolio vs peers

International Markets:

U.S & Europe:

Particulars 11th November Chg. Chg.(%)
Nasdaq 11323.33 209.18 1.88
Dow 33747.86 32.49 0.10
FTSE 7318.04 -57.30 -0.78
CAC 6594.62 37.79 0.58
DAX 14224.86 78.77 0.56
Dow Fut.* 33960.00 -57.90 -0.17

Asian markets

Particulars 14th November Chg. Chg.(%)
SGX Nifty 18413.50 -22.50 -0.12
Nikkei 28047.58 -215.99 -0.76
Straits Times 3268.63 40.30 1.25
Hang Seng 17708.03 382.37 2.21
Shanghai 3099.20 11.91 0.39

ADR Watch:

Particulars 11th November  Chg. Chg.(%)
Dr. Reddy 56.89 -0.56 -0.97
HDFC Bank 68.44 1.75 2.62
ICICI Bank 22.72 -0.59 -2.53
Infosys 19.75 0.55 2.86
Tata Motor 26.56 0.23 0.87
Wipro 5.05 0.08 1.61

Commodities & Currency

Particulars Current Price Chg.(%)
USD/INR 80.80 -1.24
Brent 96.52 0.77
Gold 1766.70 -0.15
Silver 21.633 -0.16

FIIs & DIIs:

Particulars 11th November 10th November
FIIs 3958.23 36.06
DIIs 615.54 -967.13

News Update:

Glenmark Pharmaceuticals: Reported a 1.1 percent year-on-year growth in profit at Rs 260.4 crore for the quarter ended September FY23, with revenue rising 7.2% YoY to Rs 3,375.2 crore for the quarter impacted by North America business that fell 0.1% YoY but India business grew by 12.7% and Europe 11.9% YoY. EBITDA increased by 5.3% to Rs 621.6 crore in Q2FY23 and margin declined by 40 bps to 18.4% compared to year-ago period. Numbers were ahead of analysts’ estimates.

NDTV: The open offer for the company will begin from Nov. 22 with VCPL, AMG Media Networks and Adani Enterprises as acquirers. Meanwhile, the company and its subsidiary, NDTV Networks, have put on hold the proposed sale of their 20% shareholding of Astro Awani Network, a Malaysia-based media company.

Life Insurance Corporation of India: The insurer increased its shareholding in Welspun Corp to 7.2

Hindustan Zinc: The board will convene on Nov. 16 to consider the proposal for an interim dividend for the current fiscal. The record date for the dividend, if declared, will be Nov. 24.

HEG: The company will start manufacturing of graphite anodes for lithium-ion cells as well as allied and ancillary products through incorporation of a subsidiary company.

Bharat Electronics: The company confirmed that it has signed an MoU with Aerosense Technologies for development and marketing of Drones and soft kill aerial anti drone.

Macrotech Developers: The company will absorb five wholly owned subsidiaries—Bellissimo Constructions and Developers, Homescapes Constructions, Primebuild Developers and Farms, Palava Institute of Advanced Skill Training, and Cente

Source: Moneycontrol, Bloomberg Quint, Investing

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