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

Stocks in Asia were mixed on Tuesday as investors prepared to scour a busy week of bank earnings reports ahead. Shares in Australia and Hong Kong stock futures fell while contracts for Japanese equities rose. At 6:09 a.m., the Singapore-traded SGX Nifty, an early indicator of India’s benchmark Nifty 50, was up 0.08% to 17,959. U.S. stock markets were closed Monday on account of Martin Luther King Jr. Day. Futures on the S&P 500 fell 0.2%, while Nasdaq 100 was down 0.4%. Meanwhile, the yield on 10-year Treasuries stayed stagnant around 3.5%. Crude price fell 1%, while gold declined 0.2%. Bitcoin rose to trade around the $21,100-level. ndian benchmark indices closed lower after a volatile session as traders waited for the big earnings scheduled later this week. Rupee snapped its six-day rally against the U.S. dollar as the greenback recovered overseas and domestic indices faltered.

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: Bank of India, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Delta Corp, Eris Lifesciences, Hathway Cable & Datacom, Mastek, Metro Brands, Network18 Media & Investments, TV18 Broadcast, Newgen Software Technologies, Shalby, Tata Investment Corporation, Tata Metaliks

Brokerage Radar:

UBS ON APOLLO TUBES: Buy, TP  Raised to Rs 1350 (on roll fwd); Raipur plant to start contributing; heavy structural have significant potential; Raise FY24-25E est. by 7-12% considering higher sales contribution from Raipur plant

MS ON FEDERAL BK: OW, TP Raised to Rs 175; F3Q23 PAT grew >50% YoY, 14% QoQ with core PPoP growth of 52% YoY, 8% above MSe; Big surprise was 27% YoY NII growth led by strong growth/higher margins; Management raised NIM/RoA guidance to 3.35-3.4%/1.35% for F24

JEFFERIES ON RIL: Buy, TP Rs 3100; Govt. approved Green Hydrogen Mission to develop 5 MMT capacity + 125GW associated RE capacity by 2030; Any meaningful capital subsidy to RIL should aid our US$ 8bn valuation of its green H2 foray

International Markets:

U.S & Europe

Particulars 16th January Chg. Chg.(%)
Nasdaq 11079.16 78.05 0.71
Dow 34299.29 -3.32 -0.01
FTSE 7860.07 16.00 0.20
CAC 7043.31 19.81 0.28
DAX 15134.04 47.52 0.31
Dow Fut.* 34254.00 -11.00 -0.03

Asian markets

Particulars 17th January Chg. Chg.(%)
SGX Nifty 17941.50 -3.50 -0.02
Nikkei 26140.51 318.19 1.22
Straits Times 3280.33 -3.27 -0.10
Hang Seng 21520.75 -225.97 -1.04
Shanghai 3220.03 -7.56 -0.23

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 81.61 0.33
Brent 84.56 0.12
Gold 1913.45 -0.43
Silver 24.352 -0.08

FIIs & DIIs:

Particulars 16th January 13th January
FIIs                           -750.59 -2422.39
DIIs 685.96 1953.40

News Update:

HDFC: The lender received approval of Financial Services Commission, Mauritius for transfer of shares of step-down subsidiary Griha Investments under its merger with HDFC Bank.

NTPC: NTPC Renewable Energy signed an MoU with Tripura government for development of floating and ground mounted based renewable energy projects in the state.

Bank of Baroda: The central government extended the tenure of Sanjiv Chadha as managing director and chief executive officer of the bank till the date of his superannuation, that is June 30, 2023.

Mahindra & Mahindra: The company launched an electric version of its XUV400 at an ex-showroom price of Rs 15.99 lakh.

Siemens India: The company has won an order Rs 26,000 crore from Indian Railways for supply and maintenance of 1,200 locomotives of 9,000 horsepower. Mukand: In a letter to shareholders, CMD Niraj Bajaj assured that the company is on track to meet its revenue target of Rs 6,000 crore for the current fiscal.

RB InvIT Fund: An SPV under the fund managing Pathankot Amritsar BOT Asset resumed toll collection after one month.

Ashoka Buildcon: The company received provisional certificate for the NHAI project for designing, engineering, building, financing, procurement, construction, development, commissioning, operation, maintenance of four-lane highway between Kandi and Ramsanpalle in Telangana.

India Pesticides: The company commissioned another herbicide technical product, which will be manufactured at its Sandila facility and is exclusively for export markets.

V-Mart Retail: Fire broke out at one of company’s store in Kanpur, resulting in damage of inventory, fixed assets and cash.

Source: Moneycontrol, Bloomberg Quint, Investing

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