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

Stocks extended a selloff Friday and investors sought havens, including bonds and gold, on geopolitical risks from the Ukraine standoff. Shares retreated in Japan, South Korea and Australia. U.S. futures stabilised after the S&P 500 tumbled and the Nasdaq 100 shed 3%.Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.12% to 17,246.50 as of 7:40 a.m. Crude oil dipped as traders balanced the potential return of Iranian barrels against the risk of disruption to Russian energy supplies. Cryptocurrencies have suffered sharp falls, leaving Bitcoin below $41,000.

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:

GOLDMAN SACHS ON INDIA GREEN HYDROGEN POLICY:See RIL, Renew, & L&T as key beneficiaries Although benefits will likely accrue more towards end of this decade as cost structures decline & demand pools become meaningful. Hyper integration could position RIL as a low cost hydrogen supplier.

CREDIT SUISSE ON LIFE INSURANCE: Expect margin pressure to continue driving underperformance for private insurers. Stay UNDERPERFORM on IPRUNEUTRAL on HDFC Life/SBI Life.

CREDIT SUISSE ON NBFC: Valuations attractive, most NBFCs trading 1 SD below Long Term average. (save for BAF & Chola) Prefer HDFC (housing cycle recovery), Chola (>20% ROEs & optionality from new loan products), & STFC (cyclical recovery, attractive valuations) Remain cautious on LICHF & PNBHF.

MORGAN STANLEY ON NESTLE: OW, TP Rs 15712, 4Q earnings ahead estimates on better margins. Weaker growth in largest category, margin pressures from inflation headwinds & likely mix deterioration (higher rural focus), & relative valuation keep us UW.

CREDIT SUISSE ON NESTLE: Neutral, TP Rs 20000,Healthy volume growth, relatively lower margin pressure. Nestle faces relatively lower input cost pressures compared to other FMCG cos,While are positive on medium-term outlook, stay NEUTRAL on stretched valuations.

International Markets:

U.S & Europe:

Particulars       17th  Feb    Chg Chg(%)
Nasdaq 13,716.72 -407.38 -2.88
Dow 34312.03 -622.24 -1.78
FTSE 7,537.37 -66.41 -0.87
CAC 6,946.82 -18.16 -0.26
DAX 15,267.63 -102.67 -0.67
Dow Fut.* 34449.4 136.9 0.41

*As per 18th Feb.

Asian markets:

Particulars   18th Feb    Chg. Chg(%)
SGX Nifty 17,246.50 -20.5 -0.12
Nikkei 27,094.16 -138.71 -0.51
Straits Times 3,438.34 -3.23 -0.09
Hang Seng 24,670.03 -122.74 -0.5
Shanghai 3,465.69 -2.35 -0.07

ADR Watch:

Particulars     17th Feb Chg. Chg.(%)
Dr Reddy 56.13 -0.62 -1.09
HDFC Bank 65.96 -1.56 -2.31
ICICI Bank 19.72 -0.45 -2.23
Infosys 22.43 -0.41 -1.8
Tata Motor 32.97 -0.08 -0.24
Wipro 7.36 -0.09 -1.21

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.11       0.05
Brent 92.46        -0.55
Gold 1892.85     -0.49
Silver 23.832     -0.18


Particulars         17th Feb       16th Feb
FIIs -1242.10 -1890.96
DIIs 901.10 1180.14

News Update:

Ambuja Cements Q3FY22 (Standalone, YoY): Revenue up 6% at Rs 3,735.12 crore vs Rs 3,515.11 crore Net profit down 49% at Rs 251.66 crore vs Rs 497.10 crore Ebitda down 26% at Rs 567.88 crore vs Rs 767.83 crore Margin at 15.2% vs 21.8% Recommended a final dividend of Rs 6.30 per share. Approved in principle an investment of Rs 3,500 crore for a cement grinding expansion plan.
Lupin: The U.S. Food and Drug Administration has approved the company’s supplemental new drug application to expand the use of SOLOSEC (secnidazole) in the treatment of bacterial vaginosis and trichomoniasis.

Hinduja Global Solutions: The Company has approved acquisition NXTDIGITAL, a related party of the company. It approved share entitlement ratio of 20:63.

Adani Ports & SEZ: The Company has received NCLT approval for composite scheme of arrangement between Brahmi Tracks Management Services and Adani Ports and Special Economic Zone, and Adani Tracks Management Services and Sarguja Rail Corridor.

Uttam Sugar: The company has redeemed 50,000, 10% non-cumulative redeemable preference shares of Rs 100 each alongwith premium of Rs 109 on each share.

Confidence Futuristic Energetech: The Company has acquired 50% stake in Maruti Koatsu Cylinders based in Halol, Gujarat.

CSB Bank: The bank has appointed Pralay Mondal as the deputy managing Director.

HERO MOTOCORP LAWYERS TO CNBC-TV18″The high court has declined relief to Hero Electric and Hero MotoCorp is free to manufacture and sell electric vehicles under the trademark Hero”, said Senior Advocate Rajiv Nayar.

Hindustan Aeronautics: The IncomeTaxIndia department has allowed the research and development expense at the company to be presented as capital expenditure, resulting in a refund of Rs 710 cr.

Source: Moneycontrol, Livemint,, Bloomberg, Investing.

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