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

Asian stocks were steady Tuesday while Treasury yields and the dollar trimmed gains as traders weighed inflation concerns and the prospect of a quicker tapering of central bank stimulus. Shares rose in Japan and South Korea but slipped in Australia. U.S. futures were little changed after the S&P 500 and Nasdaq 100 ended flat. The Singapore-traded SGX Nifty added 0.24% to 18,187, as of 8:05a.m. U.S. President Joe Biden and Chinese leader Xi Jinping began a face-to-face virtual summit. Any signs of improving bilateral ties could help sentiment, but the effect may be short lived given wider concerns in markets over inflation and the fallout of Xi’s “common prosperity” drive to tackle inequality.

Economic Calendar:

  • INR: M3 Money Supply on 17th November, 2021.
  • INR: Bank Loan & Deposit Growth on 19th November, 2021.
  • USD: Core Retail Sales (MoM) (Oct) on 16th November, 2021.
  • USD: Building Permits (Oct) on 17th November, 2021.

Brokerage Radar:

JEFFERIES ON ASHOK LEYLAND: Maintain buy at the price of Rs 152 for the target price of Rs 175. Truck Demand Is Recovering Fast, Expect A Big Upturn ahead. Truck Market Share Has Dropped 10 ppt Since FY18. Rationale For Sale Of e- Mobility Service Biz To Promoter Entity Is Also Unclear.

CS ON ULTRATECH: Maintain outperform at the price of Rs 8038 for the target price of Rs 9250. House Construction Activity Pick-up can Drive positive Surprise On Cement Demand. This Driver Can Turn Around & Drive Demand For Cement Ahead Of Expectations.

International Markets:

U.S & Europe

Particulars 15th Nov Chg Chg(%)
Nasdaq 15,853.85 -7.11 -0.04
Dow 36,087.45 -12.86 -0.04
FTSE 7,351.86 3.95 0.05
CAC 7,128.63 37.23 0.53
DAX 16,148.64 54.57 0.34
Dow Fut.* 36,037.00 28.00 0.08

Asian markets:

Particulars 16th Nov Chg Chg(%)
SGX Nifty 18,187.00 48.00 0.26
Nikkei 29,836.74 59.94 0.20
Straits Times 3,242.75 2.17 0.07
Hang Seng 25,557.54 166.63 0.66
Shanghai 3,543.78 10.48 0.30

ADR Watch:

Particulars 15th Nov Chg Chg(%)
Dr Reddy 65.38 0.32 0.49
HDFC Bank 70.98 -0.77 -1.07
ICICI Bank 20.52 -0.14 -0.68
Infosys 23.63 -0.07 -0.30
Tata Motor 33.57 0.00 0.00
Wipro 9.05 -0.10 -1.09

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.48 0.06
Brent 82.83   0.90
Gold 1870.90 0.23
Silver 25.255 0.60

FIIs & DII

Particulars 15th Nov 12th Nov
FIIs 424.74 511.10
DIIs 1524.67 851.41

News Update:

Macrotech Developers: The company launched its Rs 4,000 crore qualified institutional placement on Monday. It plans to issue about 3.4 crore shares. The floor price is set at Rs 1,184.70 per which is at a discount of 7.8% to last close of Rs 1,284.60. Proceeds to be used for capital expenditure including acquisition of land, land development rights or development rights, deleveraging and general corporate purposes.

The Phoenix Mills: The company and Canada Pension Plan Investment Board have entered into an agreement to develop an office-led mixed-use asset in Lower Parel, Mumbai. CPP Investments will invest up to Rs 1,350 crore in tranches, for an ultimate equity stake of 49% in Plutocrat Commercial Real Estate Private Limited, the entity that will own the asset. The target completion date for the development is 2026.

Escorts: Board to meet on November 18 to consider fundraising options. Further Escorts Agri Machinery will be increasing the prices of its tractors effective November 21. The company cited steady rise in commodity prices as the reason behind price hike. The increase in prices would vary across models and variants.

Cipla: The company has been selected in the S&P Dow Jones Sustainability Index for the Emerging Markets for 2021.

SBI Cards and Payment Services: Approved allotment of 5,000 unsecured NCDs of face value of Rs 10 lakh each aggregating to Rs 500 crore on private placement basis. The coupon rate is set at 5.75% per annum.

Reddy’s Laboratories: The pharma major, among the handful of Indian drug companies licensed to make a new covid-19 pill developed by Merck, has said it was open to making a similar pill from Pfizer, thought to be even more effective. The new drugs, which unlike vaccines can be used to treat patients once they contract coronavirus infection, are expected to be a huge market.

Bharti Airtel: Has partnered with US-based Mavenir for open radio access network (Open RAN)-based fifth generation or 5G field trials in the mmWave and mid band at Chandigarh tri-city.

Vodafone Idea: The debt-ridden telecom operator is evaluating the option of converting interest dues arising out of deferment of statutory payments into equity, a senior company official said. The company is also in talks with banks and investors for raising funds and part of the proceeds is likely to be utilised towards meeting obligations related to debt maturing this fiscal.

Ashok Leyland: Hinduja group flagship Ashok Leyland is working on hydrogen-powered commercial vehicles, with a team is currently engaged in developing them. For the time being, the company will stick to its ₹750 crore capital expenditure for this financial year.

Coforge Ltd: The company, formerly NIIT Technologies and which is promoted by PE major Barings Private Equity Asia, is likely to soon file papers with the US Securities Exchange Commission for an initial public offer via American Depository Receipts route.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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