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

Asian stocks rose Wednesday and crude oil held most of its losses as traders evaluated the prospect of diminishing geopolitical tensions over Ukraine after Russia said it was withdrawing some forces. Shares climbed in Japan, South Korea and Australia. U.S. contracts slipped after the S&P 500 snapped three days of losses in a rally led by technology stocks. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.28% to 17,396.50 as of 6:15 a.m. Russia announced a partial pullback of thousands of troops massed near the Ukrainian border and appeared to favor a diplomatic solution to the crisis there. President Joe Biden said the U.S. has yet to verify Moscow’s claims. Elsewhere, West Texas Intermediate oil was around $92 a barrel. The dollar and gold remained lower.

Economic Calendar:

  • INR: Forex Reserve on 18th February 2022..
  • INR: Forex Reserve on 25th February 2022.
  • USD: API Weekly Crude Stock on 16th February, 2022.
  • USD: PPI on 15th February, 2022.

Brokerage Radar:

NOMURA ON ONGC Neutral TP Rs185 from Rs115 Raise TP on higher oil/gas prices Rising oil/gas price boost near-term earning, but unlikely to change vol outlook Raise oil price assumptions to $76.5/75/70/63/bbl for FY22F/F23F/ FY24F/LT.

NOMURA ON ABB: Neutral, TP Rs 2052 Growth prospects appear priced in Commodity inflation & potential emergence of competition in electrification space are key headwinds Increase EPS for CY22F/23F by 3%/5% on higher order-booking EBITDA margin stabilisation post key watchable

NOMURA ON BALKRISHNA: Upgrade to Neutral; TP raised to Rs 2246 Strong demand outlook; cost headwinds remain; vals fair Co expects another 2-3% cost increase in 4Q & looks to sustain current margins Maintains its target of 28-30% EBITDA margins over medium term

MORGAN STANLEY ON TATA POWER:EW, TP Raised to Rs 228 Key catalysts – Val ascribed to green biz & Mundra resolution Earnings revised by 2%, -6% & 10% for F22-24e -a/c for Q3 results , delay in commissioning of renewable assets, MTM coal prices,& efficient fuel sourcing at Mundra

MORGAN STANLEY ON RELIANCE:OW, TP Rs 2926 Announced plans to invest $200m in Glance, an AIdriven lock-screen platform that focusses on delivering & monetising content when user screens are locked Glance provides RIL another avenue to capitalise its e-commerce & content platform

International Markets:

U.S & Europe:

Particulars       15th  Feb    Chg Chg(%)
Nasdaq 14,139.76 348.84 2.53
Dow 34988.84 422.67 1.22
FTSE 7,608.92 77.33 1.03
CAC 6,979.97 127.77 1.86
DAX 15,412.71 298.74 1.98
Dow Fut.* 34930.1 -59.1 -0.17

*As per 16th Feb.

Asian markets:

Particulars   16th  Feb    Chg. Chg(%)
SGX Nifty 17,388.50 40.5 0.23
Nikkei 27,428.02 562.83 2.1
Straits Times 3,417.51 -3.87 -0.11
Hang Seng 24,697.33 341.62 1.4
Shanghai 3,468.96 22.87 0.66

ADR Watch:

Particulars     15th Feb Chg. Chg.(%)
Dr Reddy 56.52 1.34 2.43
HDFC Bank 68.33 2.39 3.62
ICICI Bank 20.46 0.84 4.28
Infosys 22.89 0.7 3.15
Tata Motor 33.2 2.09 6.72
Wipro 7.47 0.31 4.33

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.33     -0.36
Brent 93.11        -0.17
Gold 1853.75     -0.13
Silver 23.335     -0.04

FIIs & DII

Particulars         15th Feb         14th Feb
FIIs -2298.76 108.53
DIIs 4411.60 -696.90 

News Update:
Tech Mahindra: The company has approved the proposal to acquire 80% equity shares in Geomatic.ai Pty through its subsidiary Tech Mahindra (Singapore) Pte for Rs 32.24 crore (A$6 million)

Repco: The company appointed K.Swaminathan as the Managing Director and Chief Executive Officer for a period of three years. It also appointed K. Lakshmi as the Chief Financial Officer.

Brookfield India Infrastructure: The company’s rights entitlement ratio will be one unit for every 88 units held by the eligible unitholders with minimum allotment of Rs 2 crore.

Punjab and Sind Bank: The bank has reported NPA account IL & FS Tamil Nadu Power with outstanding dues of Rs.148.86 crore as fraud and created a provision of Rs 59.54 crore for the same.
Vedant Fashions : The company will make its debut on the bourses today. The final issue price has been fixed at Rs 866 per share.

Tech Mahindra : The company will acquire 80 percent equity shares in Geomatic.ai for consideration of A$6m.
Wheels India : ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A’ earlier while keeping the outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+’, from ‘A1’ earlier.

Source: Moneycontrol, Livemint,, Bloomberg, Investing.

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