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

Asian stocks were mixed Friday following a decline in U.S. shares led by the technology sector, amid concerns over impact of tapering and geopolitical tensions following the U.S. sanctions on China. Japanese and South Korean equities slipped, while those in Australia rose. U.S. equity futures wavered after the tech-heavy Nasdaq 100 sank the most since September. The Bank of England unexpectedly raised interest rates on Thursday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.31% to 17,274, as of 8:20 a.m. The 10-year Treasury yield pared some of a decline from U.S. hours. A dollar gauge flirted with a third-straight weekly drop.

Economic Calendar:

  • INR: Bank Loan Growth on 17th December, 2021.
  • INR: Foreign Exchange Reserve on 17th December, 2021.
  • USD: US Baker Hughes Oil Rig Count on 17th December, 2021.
  • USD: Fed Waller Speaks 17th December, 2021.

Brokerage Radar:

JEFFERIES ON AMBER ENTERPRISES: Buy with, target price of Rs 4350 In Q3FY22, received two PLI approvals under White Goods- for AC Components & ILJIN for lower value AC intermediaries Faster growth in margin-accretive Components & higher RAC vols could drive FY22-24e sales/PAT CAGR at +33%/+65%.

MORGAN STANLEY ON INDIABULLS HOUSING FINANCE: Underweight call with target price of Rs 175 Promoter sells stake and announces de-promoterization of company by March 2022 HFL’s ability to increase outstanding borrowings will be key to sustainable growth in revenues and profits ,along with ROE expansion. Co has articulated embarking on an asset-light business model led by co-lending Believe a healthy mix of on- & off-b/s biz will be an ideal outcome & is the more sustainable path to achieving a healthy ROE.

CREDIT SUISSE ON INDIAN IT : Accenture’s 1Q FY22 results read-through FY22 revenue guidance revised up to 19-22% Sector has entered a technology up-cycle, Expects strong multi-year growth across IT. Management sees healthy pipeline in spite of record bookings Infosys, TCS, and HCLT are our preferred picks

MACQUARIE ON AUTO: Upgrade Ashok Leyland, Bajaj Auto & Motherson Sumi to Outperform; Focus on cyclical recovery plays. Prefer PV and CV over 2Wheelers Top Picks – Tata Motors, Maruti Suzuki, TVS and Ashok Leyland, For EV its early days; partnerships and strategic roadmap key to track Upgrade Motherson to Outperform , Target at 265/share Upgrade Ashok Leyland to outperform , Target at 270/share

International Markets:

U.S & Europe

Particulars 15th Dec Chg Chg(%)
Nasdaq 15,180.44 -385.14 -2.47
Dow 35897.64 -29.79 -0.08
FTSE 7,260.61 89.86 1.25
CAC 7,005.07 77.44 1.12
DAX 15,636.40 160.05 1.03
Dow Fut.* 35938.2 40.6 0.11

Asian markets:

Particulars 17th Dec Chg. Chg(%)
SGX Nifty 17,306.50 -21 -0.12
Nikkei 28,816.99 -249.33 -0.86
Straits Times 3,126.91 -1.89 -0.06
Hang Seng 23,370.83 -104.67 -0.45
Shanghai 3,658.29 -16.73 -0.46

ADR Watch:

Particulars 16th Dec Chg. Chg.(%)
Dr Reddy 61.83 1.37 2.27
HDFC Bank 65.13 0.95 1.48
ICICI Bank 19.19 -0.22 -1.13
Infosys 24.11 0.85 3.65
Tata Motor 31.63 -0.52 -1.62
Wipro 8.81 0.14 1.61

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.08 -0.19
Brent 74.84    0.29
Gold 1804.55 0.35
Silver 22.567 0.36

FIIs & DII

Particulars 16thDec 15thDec
FIIs -1468.71 -3407.04
DIIs 1533.15 1553.01

News Update:

Information Technology stocks : Accenture reported strong quarterly earnings and raised its business outlook for FY22. Accenture’s robust earnings provide a positive read-through for Indian technology stocks.

Gujarat Fluorochemicals : A fire broke out on Thursday in one of the multi-product plants at the company’s Ranjitnagar site situated in Gujarat. Three casualties and 10 injuries have been ascertained as a fallout of this incident.

Engineers India: The Company inked an agreement with the Institute of Chemical Technology for joint development of technology for large scale cultivation of algae and extraction of value-added products.

Persistent SystemsATOSS, a Germany-based software provider for workforce management, has selected Persistent to transform its customer relationship management with the help of salesforce integrations

Union Bank of India : Life Insurance Corporation of India acquired 2.01 percent stake in the bank through open market transactions. With this, LIC’s shareholding has risen to 5.16 percent from 3.15 percent earlier

Redex Protech : The company has invested in the capital of CVM Industrial Park LLP as a business partner to carry out the project Yash CVM Industrial Park at Sakarda near Baroda. The project size would be around Rs 100-125 crore.

Dhunseri Tea & Industries: The Company entered into an agreement for the sale of ‘Santi Tea Estate’ for Rs 6.01 crore. It also entered into an agreement with Warren Tea for the acquisition of Balijan North Tea Estate at Chabua, Assam..

KPI Global Infrastructure: The Company has received confirmation of the orders for executing a solar power project of 2.78 MWdc capacity from two clients under the Captive Power Producer segment.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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