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

Asian stocks were mixed Monday as traders weighed policy easing by China’s central bank ahead of data expected to underline the slowdown in the nation’s economy. Shares rose in Japan and Australia but slipped in South Korea. S&P 500 and Nasdaq 100 futures were volatile. U.S. stock and bond markets will be shut Monday for a holiday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.37% to 18,205.50 as of 8.30 a.m Elsewhere, oil extended its rally. Among cryptocurrencies, Bitcoin was around $43,000.

Economic Calendar:

  • INR: Bank Loan Growth on 21st January, 2022.
  • INR: Bank Deposit Growth on 21st January 2022.
  • USD: Housing Permits on 19th January, 2022.
  • USD: Building Permits on 19th January, 2022.

Earnings: Ultratech Cement,HFCL,Angle One, Sonata Software,Tatva Chintan, Tata steel Long Product,Goodluck India,Hathway Cables

Results:

HDFC Bank : The bank has reported a profit of Rs 10,342.20 crore against a CNBC-TV18 poll estimate of Rs 10,179.1 crore. Gross non-performing assets were at 1.26 percent of gross advances as of December 31, 2021. This was in comparison to 1.35 percent as on September 30, 2021.

HCL Technologies : The company’s Q3 profit and revenue exceeded market expectations. Net profit came in at Rs 3,442 crore against CNBC-TV18 poll of Rs 3,390 crore while revenue came in at Rs 22,331 crore, higher than CNBC-TV18 poll of Rs 21,674 crore

Brokerage Radar:

JEFFERIES ON L&T: Buy. Target Price Rs 2845 Believe order flow trajectory should move to 15% CAGR in FY21-24E vs 10% in past 10 yrs Railways, including metro projects, power T&D linked to renewable energy generation, roads, PLI & data centre should all contribute to higher growth ahead.

NOMURA ON HDFC BANK: Buy, Target Price Rs 1955 Recovery continues Core PPOP weaker Asset quality holding up better Forecast 17.7% & 15.2% EPS & BV CAGRs over FY21-24F.

CITI ON HCL TECH: Neutral, Target Price cut to Rs 1385 from Rs 1400 Reported a largely inline qtr on EBIT – strong revenue growth but 190 bps margin compression in IT services biz Margin outlook need to be watched out FY23E-24E est are revised down marginally.

MACQUARIE ON HDFC BANK: Outperform rating , Target Price of  Rs 2005 3QFY22 in line driven by lower provisions Close to all-time high ROA of 2.3%, Sound b/s & asset quality Not worried about weak PPoP growth Top pick in sector.

UBS ON HCL TECH: Sell, Target Price Rs 925 Beat in Q3 revs, driven by software spike Given strong beat & TCV wins, expect consensus forecasts to move upwards This could be offset by lack of assurance on FY23E rev growth acceleration.

International Markets:

U.S & Europe

Particulars 14th Jan chg Chg(%)
Nasdaq 14,893.75 86.94 0.59
Dow 35911.81 -201.81 -0.56
FTSE 7,542.95 -20.9 -0.28
CAC 7,143.00 -58.14 -0.81
DAX 15,883.24 -148.35 -0.93
Dow Fut.* 35867.6 -44.2 -0.12

Asian markets:

Particulars 17th Jan Chg. Chg(%)
SGX Nifty 18,209.00 -65 -0.36
Nikkei 28,318.54 194.26 0.69
Straits Times 3,285.74 3.77 0.11
Hang Seng 24,206.61 -176.71 -0.72
Shanghai 3,527.72 6.46 0.18

ADR Watch:

Particulars 17th Jan Chg. Chg.(%)
Dr Reddy 63.65 -0.29 -0.45
HDFC Bank 68.1 0.86 1.28
ICICI Bank 21.15 0.27 1.29
Infosys 24.11 -0.19 -0.78
Tata Motor 32.85 0.9 2.82
Wipro 9.55 0.04 0.42

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 73.88 -0.04
Brent 86.25 0.22
Gold 1817.35 0.05
Silver 22.942 0.10

FIIs & DII

Particulars 14th Jan 13th Jan
FIIs -1598.20 -1390.85
DIIs 371.41 1065.32

News Update:

Oil India : The company’s wholly-owned subsidiary Oil India (US) Inc divested its entire stake in Niobrara Shale Asset, US. Consideration received from such a sale is $ 25 million.

Aster DM Healthcare : The company’s subsidiary Malabar Institute of Medical Sciences has signed a lease agreement for the greenfield hospital project in Kasaragod district of Kerala. The initial investment of about Rs 140 crore is estimated for the new facility.

PVR : PVR has opened a 4-screen property in Narsipatnam Andhra Pradesh

Hero Motocorp : The company has approved an investment of up to Rs 420 crore in one or more tranches, in Ather Energy. Prior to the proposed investment, Hero MotoCorp’s shareholding in Ather Energy was 34.8 percent.

JK Paper : The paper company has started commercial production from the new packaging board plant in Gujarat.

Hinduja Global Solutions : The company has acquired the digital business of NXTDIGITAL, a related party, through the issuance of shares and has decided to allocate Rs 1,000 crore for the proposed buyback.

Dalmia Bharat : The company has commenced commercial production at its Murli Plant in Chandrapur, Maharashtra.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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