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

Asian stocks, bonds and currencies tumbled after a broad-based selloff on Wall Street followed a hotter-than-expected US inflation data. The high inflation has triggered expectations of jumbo interest-rate hikes by the Federal Reserve. Equities in Japan, Hong Kong and Australia slumped after US shares had their biggest drop in more than two years. The S&P 500 lost over 4% and the Nasdaq 100 fell over 5%. At 7:25 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 1.83% lower at 18,760 points. Elsewhere, West Texas Intermediate crude was little changed at $87.33 per barrel. Bitcoin fell 10% overnight–the biggest decline since June.

Economic Calendar:

  • USD : PPI (MoM) (Aug) on 14th September, 2022
  • USD : Core Retail Sales (MoM) (Aug) on 15th September, 2022
  • INR : WPI Inflation (YoY) (Aug) on 14th September, 2022
  • INR : Trade Balance on 15th September, 2022

Who’s Meeting Whom:

Kalyan Jewellers: To meet investors and analysts on Sept. 14-16

Asian Paints: To meet investors and analysts on Sept. 14-20. 

Adani Transmission: To meet investors and analysts on Sept. 14.      

ICICI Bank: To meet investors and analysts on Sept. 14.           

Brokerage Radar:

MS ON IndusInd Bank: OW, TP Rs.1400; Growth visibility continues to improve; Deposit growth seen at 18-20% YoY, aided by strong traction in new initiatives; Margins remain stable; Slippages should moderate, driving credit costs of 120-150bps

MS ON SBI: OW, TP Rs.675; Loan growth momentum remains strong;  expect margins to improve hereon; asset quality remains benign; digital initiatives are gaining strong traction; Expect margin improvement to resume from F2Q23

JEFFERIES ON ADANI PORTS: BUY, TP Raised to Rs. 1,100 from Rs. 850; Co aims to leverage its strong B/S to benefit from gradual vol recovery; Int. foray not at cost of returns; Raise FY23-25E vol by 3-7% to factor in 1QFY23 & EPS by 5-11%

International Markets:

U.S & Europe:

Particulars 13thSeptember Chg. Chg.(%)
Nasdaq 11633.57 -632.84 -5.16
Dow 31104.97 -1276.40 -3.94
FTSE 7385.86 -87.17 -1.17
CAC 6245.69 -87.90 -1.39
DAX 13188.95 -213.32 -1.59
Dow Fut.* 31188.30 83.30 0.27

Asian markets:

Particulars 14thSeptember Chg. Chg.(%)
SGX Nifty 17791.50 -300.50 -1.66
Nikkei 27991.82 -622.81 -2.18
Straits Times 3253.86 -36.22 -1.10
Hang Seng 18850.33 -476.53 -2.47
Shanghai 3241.09 -22.71 -0.70

ADR Watch:

Particulars 13th September  Chg. Chg.(%)
Dr. Reddy 52.74 -1.23 -2.28
HDFC Bank 65.25 -0.05 -0.08
ICICI Bank 22.80 -0.36 -1.55
Infosys 18.56 -0.68 -3.53
Tata Motor 28.02 -0.73 -2.54
Wipro 5.13 -0.16 -3.02

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.15 -0.47
Brent 93.34 0.18
Gold 1711.30 -0.36
Silver 19.297 -1.00

FIIs & DIIs:

Particulars 13th September 12th September
FIIs 1956.98 2049.65
DIIs -1268.43 -890.51

News Update:

Infosys: The Bengaluru-based IT firm, along with Palo Alto Networks, has struck a digital transformation deal with Belgium Post.

Bharat Forge: Kalyani Powertrain and Harbinger Motors have set up a joint venture to manufacture electric powertrains for medium-duty commercial vehicles.

JSW Steel: The company has signed a memorandum of understanding with Germany’s SMS Group for decarbonisation projects at various JSW Steel plants in India.

Ambuja Cements: The company will consider a proposal for raising of funds by way of issue of equity shares or any other means on Sept. 16.

Hatsun Agro Products: The company will consider fundraising by way of issue of equity Shares or a rights Issue on Sept. 19.

Bajaj Holdings: The company has approved an interim dividend of Rs 110 per share of face value of Rs 10 each.

KEC International: The company has secured new orders of Rs 1,108 crores across its various businesses.

Tata Steel/Tata Power: Tata Steel and Tata Power Renewables are planning to raise as much as Rs 1,200 crore and Rs 1,000 crore via bonds, Bloomberg reported.

Aegis Logistics: The company has approved second interim dividend of Re 1 per share of face value Re 1 during the financial year 2022-23 and has fixed 23 September 2022 as the record date for the purpose of payment of interim dividend. The company will pay interim dividend on or before 11 October 2022.

Filatex India: The company has received a patent for recycling of polyethylene terephthalate (PET) waste for 20 years with effect from June 2, 2021. The company received a certificate from the patent office of government of India.

Neuland Laboratories: Chief Financial Officer Deepak Gupta has resigned. He will continue to hold the position till Oct. 13.

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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