View on market: Stay Cautious, be with quality business:
Asian stocks and U.S. equity futures rose Monday, amid inflation risks from commodity-supply disruptions ahead of the US Federal Reserve’s meeting, which could see the central bank raised interest rates by 25 basis points. Japanese and Australian shares advanced. Investors were parsing efforts at diplomacy to tackle the Russia-Ukraine conflict, as well as comments from a U.S. official that Russia asked China for military equipment. U.S. equity futures rose. Brent crude dipped to $110 per barrel. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50 index, fell 0.66% to 16,539.50 points as of 8:25 am. A dollar gauge and the yen slipped, while the euro edged up. The Russian ruble was indicated slightly stronger versus the greenback. Gold retreated further from $2,000 an ounce. Bitcoin fell below $38,000.
Economic Calendar:
- INR: Forex Reserve on 25th March 2022.
- INR: Forex Reserve on 18th March 2022.
- USD: FOMC Interest Decision on 16th March, 2022.
- USD: Philly Capex Index on 17th March, 2022.
Brokerage Radar:
JEFFERIES ON IT : While INR depreciation will partly offset this impact, lower FY23/24 EPS estimates by up to 3% to factor this. Infosys and TechM remain top picks given their strong growth outlook.
MORGAN STANLEY ON REAL ESTATE: Pre-sales & new launches for 4Q21 were highest in last 5-6 yrs, exceeding pre-Covid levels for 1st time Real estate recovery is becoming entrenched & can continue for a while if pricing remains disciplined OW- DLF, Prestige & Sobha EW- Oberoi & Macrotech UW- GPL.
NOMURA ON TECH MAHINDRA: Buy, TP Rs 2220 Highlights from India Corp Day in US Demand environment remains strong Margins– headwinds from attrition & higher-than-usual salary hikes persist Higher pricing to be a key lever M&A– remains a key growth driver; will slow down in near-term
International Markets:
U.S & Europe:
| Particulars | 14th Mar | Chg | Chg(%) |
| Nasdaq | 12,581.22 | -262.59 | -2.04 |
| Dow | 32945.24 | 1.05 | 0.00 |
| FTSE | 7,193.47 | 37.83 | 0.53 |
| CAC | 6,369.94 | 109.69 | 1.75 |
| DAX | 13,929.11 | 301 | 2.21 |
| Dow Fut.* | 33009.5 | 60.3 | 0.18 |
Asian markets:
| Particulars | 14th Mar | Chg. | Chg(%) |
| SGX Nifty | 16,849.00 | -34 | -0.2 |
| Nikkei | 25,385.11 | 77.26 | 0.31 |
| Straits Times | 3,251.28 | 19.25 | 0.6 |
| Hang Seng | 19,219.61 | -312.05 | -1.6 |
| Shanghai | 3,186.38 | -37.15 | -1.15 |
ADR Watch:
| Particulars | 14th Mar | Chg. | Chg.(%) |
| Dr Reddy | 50.89 | 0.03 | 0.06 |
| HDFC Bank | 59.16 | 2.29 | 4.03 |
| ICICI Bank | 18.1 | 0.49 | 2.78 |
| Infosys | 24.69 | 0.68 | 2.83 |
| Tata Motor | 25.77 | -0.43 | -1.64 |
| Wipro | 7.69 | 0.15 | 1.99 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.56 | -0.03 |
| Brent | 103.03 | -3.65 |
| Gold | 1945.40 | -0.79 |
| Silver | 25.145 | -0.60 |
FIIs & DII:
| Particulars | 15th Mar | 11th Mar |
| FIIs | -176.52 | -2263.90 |
| DIIs | 1098.62 | 1686.85 |
News Update:
Black Box: The company has approved a share split that breaks up shares of face value Rs 10 each into shares of face value Rs 2 each.
Anupam Rasayan: The company has appointed Amit Khurana as chief financial officer in place of Afzal Malkani, who has now been appointed as non-executive director on Tanfac’s board as a nominee of the firm.
Kabra Extrusion Technik: The company has agreed to acquire 100% share capital of Varos Technology for Rs 80 lakh.
Coal India: The world’s largest coal producer offered 160.5 million tonnes of coal until February under e-auctioning.
Reliance Industries: Reliance New Energy acquired assets of Lithium Werks for $61 million. Assets include entire patent portfolio of Lithium Werks, manufacturing facility in China, key business contracts and hiring of existing employees.
Embassy Office Parks REIT: To consider raising funds on March 17.
Wipro: The company has partnered with Speira to strengthen the technology infrastructure and cybersecurity requirements of Speira.
Jai Corp: Approved redemption of 84,000, 1% non-cumulative, non-participating redeemable preference shares on March 15.
Bharat Rasayan: The promoters will sell 2500 shares (0.06% of paid up capital) with face value of Rs 10, in the open market.
Prime Focus: Received NCLT approval for scheme of amalgamation of PF Digital Media Services with Prime Focus.
Persistent: The company through its wholly owned subsidiaries has agreed to acquire MediaAgility Inc. and its subsidiaries in India, the United Kingdom, Mexico and Singapore for a total of $71.71 million.
RITES: The company declared third interim dividend of Rs 7.5 per share (75% of paid up share capital).
Bank of Baroda: Baroda Asset Management is merging with BNP Paribas Asset Management India to form Baroda BNP Paribas Asset Management. The lender holds 50.1% stake in the new firm while BNP Paribas owns the rest.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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