Market-View-Feature-Image

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

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

 

 

 

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html