View on market: Stay Cautious, be with quality business:
Asian stocks rose Monday as traders awaited key Chinese economic data. Treasuries were steady, bringing some respite from volatility caused by high inflation and the prospect of tighter monetary policy. Shares climbed in Australia, South Korea and Japan. U.S. futures pushed higher after technology shares bolstered the S&P 500 on Friday. The yen slipped and the dollar was little changed. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, added 0.49% to 18,222, as of 8:00 a.m.
Economic Calendar:
- INR: WPI Inflation (YoY) (Oct) on 15th November, 2021.
- INR: Trade Balance (Oct) on 15th November, 2021.
- USD: Core Retail Sales (MoM) (Oct) on 16th November, 2021.
- USD: Building Permits (Oct) on 17th November, 2021.
Results:
Coal India Q2FY22 (Consolidated, QoQ): Revenue down 7.8% at Rs 23,291.08 crore Vs Rs 25,282.15 crore. Net profit down 7.3% at Rs 2,936.91 crore Vs Rs 3,169.86 crore. Ebitda down 18.6% at Rs 3,942.34 crore Vs Rs 4,843.85 crore. Margins at 16.9% vs 19.2%.
ONGC Q2FY22 (Standalone, QoQ): Revenue up 5.8% at Rs 24,353.61 crore Vs Rs 23,021.64 crore. Net profit at Rs 18,347.73 crore Vs Rs 4,334.75 crore. Ebitda up 13.9% at Rs 12,527.53 crore Vs Rs 11,001.78 crore. Margins at 51.4% Vs 47.8%. Declared an interim dividend of Rs 5.50 per share.
Hero MotoCorp Q2FY22 (Standalone, QoQ): Revenue up 56% at Rs 8,543.4 crore Vs Rs 5,487 crore. Net Profit at Rs 794 crore Vs Rs 365 crore. Ebitda at Rs 1,156 crore Vs 515 crore . Margins at 13.5% Vs 9.4%.
Ashok Leyland Q2FY22 (Consolidated, YoY): Revenue up 44% at Rs 5,562.47 crore Vs Rs 3,852.84 crore Net loss at Rs 103.43 crore Vs Rs 122.95 crore Ebitda down 1% at Rs 575.95 crore Vs Rs 579.87 crore Margins at 10.4% Vs 15.1%
Brokerage Radar:
CLSA ON HINDALCO: Maintain buy at the price of Rs 468.55 for the target price of Rs 570. Q2 India EBITDA beats estimates after strong Novelis result. Strong show on all fronts by Hindalco. Resilient earnings and an undemanding valuation;
NOMURA ON HERO MOTOCORP: Maintain buy at the price of Rs 2683.05 for the target price of Rs 2683. Execution on EVs is a key monitorable for any re-rating. Demand for mass segments like two-wheelers can face pressure.
International Markets:
U.S & Europe
| Particulars | 12th Nov | Chg | Chg(%) |
| Nasdaq | 15,860.96 | 156.68 | 1.00 |
| Dow | 36,100.31 | 179.08 | 0.50 |
| FTSE | 7,347.91 | -36.27 | -0.49 |
| CAC | 7,091.40 | 31.85 | 0.45 |
| DAX | 16,094.07 | 10.96 | 0.07 |
| Dow Fut.* | 36,037.00 | 24.00 | 0.07 |
Asian markets:
| Particulars | 15th Nov | Chg | Chg(%) |
| SGX Nifty | 18,222.00 | 88.50 | 0.49 |
| Nikkei | 29,754.61 | 144.64 | 0.49 |
| Straits Times | 3,237.58 | 9.13 | 0.28 |
| Hang Seng | 25,335.84 | 7.87 | 0.03 |
| Shanghai | 3,532.87 | -6.23 | -0.18 |
ADR Watch:
| Particulars | 12th Nov | Chg | Chg(%) |
| Dr Reddy | 64.66 | -0.17 | -0.26 |
| HDFC Bank | 72.11 | 0.13 | 0.18 |
| ICICI Bank | 21.11 | 0.07 | 0.33 |
| Infosys | 23.30 | -0.14 | -0.60 |
| Tata Motor | 33.61 | -0.47 | -1.38 |
| Wipro | 9.08 | -0.12 | -1.30 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.44 | -0.10 |
| Brent | 81.56 | -0.52 |
| Gold | 1861.85 | -0.36 |
| Silver | 25.102 | -0.96 |
FIIs & DII
| Particulars | 12th Nov | 11th Nov |
| FIIs | 511.10 | -1637.46 |
| DIIs | 851.41 | 445.76 |
News Update:
Maruti Suzuki India: The company has received clearance from Haryana government to set up a new plant over 900 acres of land at Kharkhoda in Sonipat district of the state.
Wipro: The company has joined CargoWise Service Partner Network to enable global supply chain transformation. Wipro CargoWise experts will help transportation and logistics companies transform digitally.
Gati: Rohan Mittal has stepped down as the CFO and Chief Transformation Officer of the company with effect from the close of business hours on November 12.
Indian Oil Corporation and NTPC have signed a Memorandum of Understanding to collaborate and mutually explore opportunities in the field of renewable energy.
Aster DM Healthcare: The company is mulling split of Gulf, India units. May make demerger decision within three months, said Chairman Azad Moopen. It will also decide on bond issue within a couple of months.
Nykaa: FSN E-Commerce Ventures, which operates Nykaa, said its net profit stood at Rs 1.2 crore for the quarter ended September 2021 as compared to a net profit of Rs 27 crore in the quarter September 2020. Revenue grew 47 percent to Rs 885.3 crore YoY.
HCL Tech: HCL Technologies has opened a new global delivery centre at Hartford, Connecticut, in the US. The new centre serves its flagship client in the region, Stanley Black & Decker, and will expand to support clients across industries including manufacturing, aerospace and defence, insurance, life sciences and healthcare. HCL also plans to create 500 new jobs in Connecticut in the next 24 to 36 months.
Future Retail: Independent directors at Future Retail have disclosed new documents in a letter to the Competition Commission of India (CCI) aiming to bolster their case against Amazon.com Inc as they seek to revoke a 2019 deal between the two companies. The directors reviewed records related to the 2019 deal between Future Coupons and Amazon, and argued that disclosures by the U.S. company before the CCI when it sought approval for the deal contradicted Amazon’s own internal communications at the time.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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