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

Asian stocks and U.S. equity futures were steady Tuesday as traders parsed geopolitical risks and worries about Federal Reserve monetary-policy tightening to fight inflation. Shares in Japan, South Korea and Australia fluctuated. The S&P 500 notched a third straight drop Monday after a few rebound attempts, while the technology-heavy Nasdaq 100 closed with a small gain. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.72% to 16,959 as of 7:20 a.m. The Russia-Ukraine tensions are still keeping oil markets on edge. West Texas Intermediate edged back but remained in sight of $95 a barrel after earlier scaling that mark for the first time since 2014. In precious metals, gold held on its recent gains, supported by the worries in global markets.

Economic Calendar:

  • INR: Trade Balance on 15th February, 2022.
  • INR: Forex Reserve on 18th February 2022.
  • USD: API Weekly Crude Stock on 16th February, 2022.
  • USD: PPI on 15th February, 2022.

Results:

Coal India: Q3FY22 (Consolidated, QoQ) Revenue up 22.1% at Rs 28,433.5 crore Vs Rs 23,291.08 crore (Bloomberg estimate: Rs 27,148.3 crore) Net profit up 55.2% at Rs 4,558.39 crore Vs Rs 2,936.91 crore (Bloomberg estimate: Rs 4,336.83 crore) Ebitda up 73.1% at Rs 6,825.48 crore Vs Rs 3,942.31 crore (Bloomberg estimate: Rs 6,398.3 crore) Margin at 24% Vs 16.9% (Bloomberg estimate: 23.5%)

Eicher Motors: Q3FY22 (Consolidated, YoY) Revenue up 2% at Rs 2,880.65 crore Vs Rs 2,828.26 crore Net profit down 14% at Rs 456.13 crore Vs Rs 532.59 crore Ebitda down 13% at Rs 582.36 crore Vs Rs 672.02 crore Margin at 20.2% Vs 23.8%

Balkrishna Industries: Q3FY22 (Consolidated, YoY) Revenue up 36% at Rs 2,045.81 crore Vs Rs 1,509.23 crore Net profit up 4% at Rs 338.95 crore Vs Rs 325.07 crore Ebitda down 5% at Rs 456.65 crore Vs Rs 479.57 crore Margin at 22.3% Vs 31.8% Declared an interim dividend of Rs 4 per share and a special dividend of Rs 12 per share.

Brokerage Radar:

CLSA ON HDFC Upgrade to buy from O-P, TP Rs 3050 With 20-30% under performance over past 12 mths, risk-reward improved Val, adjusted for subsidiaries, is back to -1 std. & improving affordability & a turning real estate cycle remain positives.

NOMURA ON VOLTAS: Neutral, TP Rs 1270 3Q largely in linerisks to consumption demand Slower recovery so farExpecting a strong upcoming summer season; Val at 38x FY24F EPS factoring it in.

NOMURA ON ASHOK LEYLAND: Buy, TP Rs 167 3Q in-line; Economic cycle to drive CVs MHCV cycle set for a sharp recovery over r FY22-24FCNG range could improve market share.

International Markets:

U.S & Europe

Particulars 14th  Feb Chg Chg(%)
Nasdaq 13,790.92 -0.23 0
Dow 34566.17 -171.89 -0.49
FTSE 7,531.59 -129.43 -1.69
CAC 6,852.20 -159.4 -2.27
DAX 15,113.97 -311.15 -2.02
Dow Fut.* 34621.0 54.8 0.16

Asian markets:

Particulars 15th  Feb Chg. Chg(%)
SGX Nifty 16,959.50 120.5 0.72
Nikkei 27,006.66 -72.93 -0.27
Straits Times 3,421.63 0.43 0.01
Hang Seng 24,504.27 -52.3 -0.21
Shanghai 3,441.25 12.37 0.36

ADR Watch:

Particulars 14th Feb Chg. Chg.(%)
Dr Reddy 55.18 -1.14 -2.02
HDFC Bank 65.94 -0.63 -0.95
ICICI Bank 19.62 -1.05 -5.08
Infosys 22.19 -0.08 -0.36
Tata Motor 31.11 -1.09 -3.39
Wipro 7.16 -0.12 -1.65

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.61 0.30
Brent 96.08 -0.40
Gold 1878.60 0.49
Silver 23.990 0.60

FIIs & DII

Particulars 14th Feb 11th Feb
FIIs -4253.70 108.53
DIIs 2170.29 -696.90 

News Update:

Reliance Industries: Jio Platforms will invest $200 million in Glance to accelerate Glance’s launch in key international markets outside of Asia such as the U.S., Brazil, Mexico and Russia.

Vedanta: The company has signed an MoU with Hon Hai Technology Group (Foxconn) to form a joint venture company that will manufacture semiconductors in India. Vedanta will hold the majority of equity in the JV.

Cipla: Promoters to sell up to 2.5% stake in block deals, according to terms of the deal obtained by Bloomberg. The company’s shares are offered at a price range of Rs 904.8 to Rs 916.7 each in a secondary placement. 16.14 million shares are being offered by the sellers, with option to upsize to 4.03 million shares.
Godrej Consumer Products: The company divested its entire stake in BBLUNT for Rs 84.5 crore. Honasa Consumer, the parent company of Mamaearth, has acquired BBLUNT from the company. The transaction is expected to be complete by March 14.

One 97 Communications: Merchant payments processed on Paytm platform in January jumped 105% from a year earlier to Rs 83,481 crore. Average monthly transacting use

SREI Infrastructure Finance: Kolkata NCLT has approved consolidated insolvency proceeding for SREI Group NBFCs. SREI Infrastructure Finance and SREI Equipment Finance will face consolidated insolvency proceeding, under the same committee of creditors. Bidders will be required to bid for a consolidated balance sheet.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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