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

Asian stocks were mixed Wednesday amid expectations of a faster withdrawal of monetary stimulus in today’s policy decision by U.S. Federal Reserve and caution over impact due to omicron variant. Shares rose in Japan but fell in Australia and South Korea. S&P 500 and Nasdaq 100 futures were steady. Technology shares dragged Wall Street. Treasury yields and the dollar held gains. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.05% to 17,325.50, as of 8:25 a.m. U.S. producer-price inflation hit a record of almost 10%. The elevated inflation level is likely to force the Fed to rapidly taper bond purchases

Economic Calendar:

  • INR: Balance of Trade on 15th December, 2021.
  • INR: Foreign Exchange Reserve on 17th December, 2021.
  • USD: Retail Sale MoM (Nov) on 15th December, 2021.
  • USD: Fed Interest Rate Decision 16th December, 2021.

Brokerage Radar:

CLSA ON ZEE ENTERTAINMENT: Buy with Target Price of Rs 415 Big potential upsides on likely Zee-Sony merger Nearing 21 Dec-21; potential merger with Sony a rerating catalyst If deal is sealed, Zee’s valuation is likely to return to historical highs of 30x PE price can reach to Rs690

CLSA ON ITC: CLSA gave Buy with Target Price Rs 275 In (FMCG), is looking to leverage its power brand & drive margin expansion For cigarettes, said a stable tax regime is
+ve for sector Now open for alternate structures in its hotels & InfoTech biz & FMCG value unlocking remains a focus

CREDIT SUISSE ON SHRIRAM TRANSPORT: Maintain Outperformer Rating with target price of Rs. 1775, Announcement Of The Long-awaited Merger Should Remove Overhang On Stock Price, expect Higher Asset Quality Deterioration Due To COVID 3.0 & Recent RBI Norms Are Key Risks

CLSA ON LUPIN : Maintain Outperform rating with target Price of Rs. 950, Goa Plant Receives Establishment Inspection Report From US FDA Positive News, But Importance of The Plant Has Declined Over The Years Resolution For Goa Plant May Not HaveAny Material Impact On Us Growth & Earnings Clearance Of Pithampur-Il & Somerset Are More Important From US Perspective

International Markets:

U.S & Europe

Particulars 14th Dec Chg Chg(%)
Nasdaq 15,237.64 -175.64 -1.14
Dow 35544.18 -106.77 -0.30
FTSE 7,218.64 -12.8 -0.18
CAC 6,895.31 -47.6 -0.69
DAX 15,453.56 -168.16 -1.08
Dow Fut.* 35591.70 47.5 0.13

Asian markets:

Particulars 15th Dec Chg Chg(%)
SGX Nifty 17,325.00 -8 -0.05
Nikkei 28,404.05 -28.59 -0.1
Straits Times 3,117.66 -3.43 -0.11
Hang Seng 23,694.95 59 0.25
Shanghai 3,665.71 4.18 0.11

ADR Watch:

Particulars 14th Dec Chg Chg(%)
Dr Reddy 60.8 0.17 0.28
HDFC Bank 64.71 -0.39 -0.6
ICICI Bank 19.66 0.01 0.05
Infosys 22.89 0.28 1.24
Tata Motor 31.69 -0.26 -0.81
Wipro 8.62 -0.03 -0.35

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.87 0.10
Brent 72.91 -0.45
Gold 1772.25 -0.01
Silver 21.942 0.08

FIIs & DII

Particulars 14thDec 13thDec
FIIs -763.18 -2743.44
DIIs 425.43 1351.03

News Update:

Bharti Airtel: The telco is collaborating with Capgemini to bring 5G based enterprise grade solutions in India.

ITC: The cigarette-to-hotels conglomerate, at its first analyst meet on Tuesday, expressed willingness to list its IT arm, make selective acquisitions in consumer goods, and demerge the hotels business.

Mold-Tek Packaging: The Company launched QIP issue on Tuesday and has approved a floor price of Rs 722.40 per equity share for the issue.

GR Infraprojects : The company said the project “Development of Purvanchal Expressway (Package-IV) from Sidhi Ganeshpur to Sansarpur in Uttar Pradesh on EPC basis” has been provisionally completed. Subsidiaries GR Amritsar Bathinda Highway and GR Ludhiana Rupnagar Highway have executed the concession agreement with the National Highways Authority of India.

Tamilnadu PetroProducts: CARE upgraded credit rating on the company’s long-term bank facilities to A from A-, with a stable outlook.

Deepak Nitrite: The company’s board of directors will meet on December 22 to consider raising funds

SMS Lifesciences India: The company has executed a Share Purchase Agreement and Share- Subscription Agreement with ChemWerth Inc. USA, strategic investor and their associates on Monday, for divestment up to 10 percent stake in Mahi Drugs, and raising fresh equity in Mahi Drugs, on a private placement basis.

Aptus Value Housing Finance India: ICRA has upgraded the company’s credit rating to ‘AA-‘ from ‘A+’ while reviewing the existing ratings..

Ansal Housing: Housing Development Finance Corporation invokes a pledge on 50 lakh shares of Ansal Housing, aggregating 8.42 percent of its paid-up share capital.

Adani Green Energy: The company has signed a power purchase agreement with Solar Energy Corp of India to supply 4.66 gigawatts of renewable power.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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