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

U.S. equity futures fell and Asian stocks were volatile Thursday on renewed geopolitical concerns after American officials rejected Russia’s claims of removal of troops from Ukraine’s borders. Japan slipped, while other Asian equities were mixed, following a small gain for S&P 500 on Wednesday. Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.28% to 17,368.50 as of 6:20 a.m. Havens including treasuries and the yen climbed. Oil slid amid renewed hopes of a Iranian nuclear deal while bitcoin hovered in the vicinity of $44,000.

Economic Calendar:

  • INR: Forex Reserve on 18th February 2022..
  • INR: Forex Reserve on 25th February 2022.
  • USD: Existing Home Sales on 18th February, 2022.
  • USD: FOMC Member Brainard speaks on 19th February, 2022.

Brokerage Radar:

UBS ON EICHER MOTORS: Buy, TP Rs 3300 Roadshow with CFO Management addressed key concerns on production ramp-up (semis shortage), & management attrition Also spoke about healthy domestic demand & further opportunities in international business ,Adapting to digital era; non-bikes rev on the rise.

CITI ON TECH MAHINDRA : Buy, TP Rs 1710  CEO NDR Takeaways Deal pipeline is strong & win rate has improved. Good revenue visibility given decent net new deal TCV trends; 5G will further aid. Management outlined multiple steps taken for margins.

NOMURA ON IPCA LABS: Upgrade to Buy, TP Rs 1194 Upgrade on favorable valuations  Strong execution in domestic formulation; market share gains in key molecules.

JP MORGAN ON TATA MOTORS: Initiate OW, TP Rs 630 Potential bull case fair value of Rs783 (57% upside) is predicated on EV leadership in Indian PVs & meeting medium term targets at JLR, Co demonstrated commitment to b/s deleveraging & structural strengthening of its biz– JLR & India– since 2019 Believe co can achieve its zero net debt target by FY24 (vs Rs604bn currently)

International Markets:

U.S & Europe:

Particulars       16th  Feb    Chg Chg(%)
Nasdaq 14,124.10 -15.66 -0.11
Dow 34934.27 -54.57 -0.16
FTSE 7,603.78 -5.14 -0.07
CAC 6,964.98 -14.99 -0.21
DAX 15,370.30 -42.41 -0.28
Dow Fut.* 34919.0 -15.3 -0.04

*As per 17th Feb.

Asian markets:

Particulars   17th Feb    Chg. Chg(%)
SGX Nifty 17,368.00 50.5 0.29
Nikkei 27,395.85 -64.55 -0.24
Straits Times 3,454.68 15.38 0.45
Hang Seng 24,775.30 56.4 0.23
Shanghai 3,464.05 -1.78 -0.05

ADR Watch:

Particulars     16th Feb Chg. Chg.(%)
Dr Reddy 56.75 0.23 0.41
HDFC Bank 67.52 -0.81 -1.19
ICICI Bank 20.17 -0.29 -1.42
Infosys 22.84 -0.05 -0.22
Tata Motor 33.05 -0.15 -0.45
Wipro 7.45 -0.02 -0.27

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.07     -0.34
Brent 92.91        -1.99
Gold 1871.60     -0.02
Silver 23.473     -0.56

FIIs & DII:

Particulars         16th Feb         15th Feb
FIIs -1890.96 -2298.76
DIIs 1180.14 4411.60

News Update:

Ambuja Cements and Nestle India : Both the companies will detail their quarterly earnings on Thursday.
JSW Ispat: JSW Ispat Special Steel, a joint venture of JSW Steel and AION, will acquire 100% equity share capital of Mivaan Steels to hive off its Raipur (Chhattisgarh) plant along with certain other assets to MSL via slump sale for Rs 450 crore.

Wipro: The company was awarded a five-year, strategic engagement to drive transformation for ABB Ltd.’s information systems. The agreement is worth over Rs 1,126.55 crore ($150 million).

Future Consumer: The company has failed to service payment of Rs 21.18 crore principal and interest of Rs 5.49 crore on unlisted non-convertible debentures to CDC Emerging Markets Ltd.

Tata Motors: Jaguar Land Rover has formed a multi-year strategic partnership with Nvidia to jointly develop and deliver next-generation automated driving systems plus AI-enabled services.

Jubilant Ingrevia: The company has commissioned new Diketene derivatives facility at its manufacturing site at Gajraula, Uttar Pradesh. It has 7,000 TPA capacity to produce various esters (Mono Methyl Acetoacetam Methyl Acetoacetate, Ethyl Acetoacetate and Ter-Butyl Acetoacetate).

Kalpataru Power Transmission : The company on Feb 19 will consider the proposal for reorganisation.

Tata Consultancy Services : The company announced a partnership with MATRIXX Software to offer a comprehensive next-gen subscription management platform for communication service providers.

Hindustan Aeronautics: HAL has reached a settlement with RUAG Aerospace over an arbitration.

Source: Moneycontrol, Livemint,, Bloomberg, Investing.

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