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

Asian equities are set to open the week with a tailwind from US stocks closing at the highest in a month as easing inflation expectations fuel January’s global share rally. At 5:59 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.11% to 18,058.5. Indian stocks are in for a busy week with economic data, ongoing quarterly earnings, and foreign fund trading activity deciding the direction for investors. The third quarter season has begun with big IT names, and this week market will react to the earnings of some major names, including HDFC Bank, IndusInd Bank, Asian Paints, JSW Steel, and HUL. Overseas investors in Indian equities were net sellers for the 16th day in a row on Friday. Foreign portfolio investors offloaded stocks worth Rs 2,422.39 crore, while the domestic institutional investors mopped up stocks worth Rs 1,953.4 crore.

Economic Calendar:

  • USD : Retail Sales (MoM) (Dec) on 18th January, 2023
  • USD : PPI (MoM) (Dec) on 18th January, 2023
  • INR : WPI Inflation (YoY) (Dec) on 16th January, 2023
  • INR : Infrastructure Output (YoY) (Dec) on 31st January, 2023

Q3FY23 Results Today: Federal Bank, Bank of Maharashtra, Angel One

Brokerage Radar:

CITI ON JUST DIAL: Buy, TP Rs 735; 3Q top line in-line but margins ahead; Strong top-line growth (+39% YoY) aided by both campaigns growth (+19% YoY) as well as realizations recovery (+18% YoY)

MS ON HDFC BK: Rev growth strong (22% YoY, 2% above MSe); Core PPoP growth continues to improve – now at 19% YoY (vs. 12% YoY in F22). Retail TD growth was strong (30% YoY, 10% QoQ)

NOMURA ON WIPRO: Neutral, TP Rs 425; Growth hurt by furloughs & lower discretionary spends; Brace for near-term weakness; increasing deal tenures leading to delay in translation to immediate growth; Margin recovery strong, new base set

International Markets:

U.S & Europe

Particulars 13th January Chg. Chg.(%)
Nasdaq 11079.16 78.05 0.71
Dow 34302.61 112.64 0.33
FTSE 7844.07 50.03 0.64
CAC 7023.50 47.82 0.68
DAX 15086.52 28.22 0.19
Dow Fut.* 34366.00 63.40 0.18

Asian markets

Particulars 16th January Chg. Chg.(%)
SGX Nifty 18048.50 10.00 0.06
Nikkei 25855.38 -264.14 -1.02
Straits Times 3287.91 -5.84 -0.18
Hang Seng 21837.55 98.89 0.45
Shanghai 3234.83 39.52 1.24

ADR Watch:

Particulars 13th January  Chg.       Chg.(%)
Dr. Reddy 53.60 0.23 0.43
HDFC Bank 67.52 0.82 1.23
ICICI Bank 21.67 0.28 1.31
Infosys 18.52 0.12 0.65
Tata Motor 24.91 -0.23 -0.91
Wipro 4.79 -0.05 -1.03

Commodities & Currency

Particulars Current Price Chg.(%)
USD/INR 81.33 -0.28
Brent 84.76 -0.61
Gold 1929.30 0.40
Silver 24.590 0.89

FIIs & DIIs:

Particulars 13th January 12th January
FIIs                           -2422.39 -1662.63
DIIs 1953.40 2127.65

News Update:

Mahindra & Mahindra: The Mumbai bench of NCLT has approved the merger of Mahindra Electric Mobility with the company.

Lupin: U.S. FDA inspected Lupin’s Somerset, New Jersey, U.S.A.manufacturing facility and closed with issuance of Form-483 with two observations.

Aster DM: Malabar Institute of Medical Sciences, a material subsidiary of Aster DM Healthcare, has entered into an agreement to acquire 99.99% stake in Cantown Infra Developers for Rs 15.22 crore.

L&T Finance Holdings: The board approved the amalgamation of L&T Finance, L&T Infra Credit and L&T Mutual Fund Trustee with the company. The company appointed Vinay Chhawchharia as chief risk officer for two years, effective Jan. 13, 2023.

Karnataka Bank: The bank appointed Sekhar Rao as Executive Director for a period of three years.

State Bank of India: The bank hiked one-year lending year by 10 basis points to 8.4%, with effect from Jan. 15.

Tata Steel: The company said British Steel Pension Scheme with Tata Steel U.K. as sponsor has completed a substantial part of its de-risking journey with 60% of its liabilities now insured by an insurance company.

Tata Motors: The company filed Form 25 with the Securities and Exchange Commission to termination of its American Depository Share programme.

Whirlpool of India: The company appointed Narasimhan Eswar as managing director from April 4, 2023, for five years after the resignation of Vishal Bhola from the position.

Dr. Reddy’s Laboratories: The company acquired the trademark rights of the breast cancer drug Primcyv from Pfizer Products India for use in the Indian market.

Jet Airways: The Mumbai bench of NCLT approved transfer of the airline’s to the Jalan-Kalrock consortium.

HG Infra Engineering: The company received a letter of acceptance from Delhi Metro Rail Corporation for a project with estimated cost of Rs 399 crore.

Delhivery: The company completed the acquisition of Algorhythm Tech on Jan. 13.

Source: Moneycontrol, Bloomberg Quint, Investing

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