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

Asian stocks were mixed Thursday as the prospect of faster monetary-policy tightening to tackle inflation looms over the global recovery. Equities slipped in Japan and edged up in Australia. S&P 500 contracts fluctuated and Nasdaq 100 futures edged up. U.S. shares pulled back overnight amid home building data signaling high materials prices and labor shortages. The Singapore-traded SGX Nifty was little changed at 17,860.50, as of 8:05 a.m. A dollar gauge was little changed after slipping from the highest level in more than a year, while the yen edged lower following a bout of volatility.

Economic Calendar:

  • INR: FX Reserves, USD on 19th November, 2021.
  • INR: Bank Loan & Deposit Growth on 19th November, 2021.
  • USD: Initial Jobless Claims on 18th November, 2021.
  • USD: Existing Home Sales (Oct) on 22nd November, 2021.

Brokerage Radar:

JP MORGAN ON VEDANTA: Maintain buy at the price of Rs 338.20 for the target price of Rs 400.Vedanta remains well-positioned across key segments. Vedanta would see cost inflation across segments. Company is reversing the last few years of simplification with multiple listed entities.

JEFFERIES ON HPCL: Maintain buy at the price of Rs 326 for the target price of Rs 410. Marketing margin on auto fuels improved sharply in November. Excise duty cuts have created room for price revision. Early in refining cycle that should firm up over CY22E.

International Markets:

U.S & Europe

Particulars 17th Nov Chg Chg(%)
Nasdaq 15,921.57 -52.29 -0.33
Dow 35,931.05 -211.17 -0.58
FTSE 7,291.20 -35.77 -0.49
CAC 7,156.85 4.25 0.06
DAX 16,251.13 3.27 0.02
Dow Fut.* 35,829.00 38.00 -0.11

Asian markets:

Particulars 18th Nov Chg Chg(%)
SGX Nifty 17,860.50 -23.00 -0.13
Nikkei 29,437.19 -251.14 -0.85
Straits Times 3,232.61 -0.07 0.00
Hang Seng 25,240.97 -409.11 -1.59
Shanghai 3,522.27 -15.10 -0.43

ADR Watch:

Particulars 17th Nov Chg Chg(%)
Dr Reddy 63.66 -0.45 -0.70
HDFC Bank 70.43 0.04 0.06
ICICI Bank 20.38 0.07 0.34
Infosys 23.74 -0.29 -1.21
Tata Motor 34.94 0.28 0.81
Wipro 9.09 0.00 0.00

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.27 -0.14
Brent 79.99 -0.25
Gold 1871.00 0.04
Silver 25.160 -0.03

FIIs & DII

Particulars 17th Nov 16th Nov
FIIs -344.35 -560.67
DIIs -61.14 577.34

News Update:

Vedanta: To separately list aluminum, oil, iron and steel businesses. The company has set up a board committee to evaluate options to unlock value and simplify its corporate structure. It aims to accelerate emissions reduction and strengthen ESG practices.

Kalpataru Power Transmission: ICICI Prudential Mutual Fund acquired 0.19% stake in the company via open market transactions on November 16, increasing shareholding to 5.18% from 4.99% earlier.

Jindal Drilling and Industries: The company has acquired an offshore jack-up rig ‘Jindal Supreme’ from Venus Drilling Pte. Ltd. for $16.75 million. The rig is currently operating under contract with Oil and Natural Gas Corporation.

The Phoenix Mills: CPP Investments has completed its first tranche of investment in Plutocrat Commercial Real Estate Private, a wholly owned subsidiary of the company, on private placement basis and by way of secondary acquisition of equity shares held by the company in PCREPL aggregating to Rs 787 crore.

Asian Paints: Asian Paints Ltd has been battling severe cost inflation, and its strategy of taking slow price hikes had become a sore point for its investors. But there is some relief for investors on this front. According to analysts at Edelweiss Securities Ltd, the market leader in decorative paints is taking another round of price hike in a month from 5 December.

ITC Ltd: Is likely to spin off and list its wholly-owned software services business in the coming months at a valuation of ₹20,000-25,000 crore. ITC Infotech provides technology solutions and services to enterprises across industries such as banking and financial services, healthcare, manufacturing, consumer goods, and travel and hospitality.

BPCL: The Centre is aiming to complete the privatization of five to six state-owned firms, including Bharat Petroleum Corp Ltd, this fiscal , secretary of the Department of Investment and Public Asset Management Tuhin Kanta Pandey said on Wednesday. Pandey also said that the Centre aims to close the privatization of BEML and Shipping Corp of India and list the insurance behemoth Life Insurance Corp on local bourses by March 2022.

PNB Housing Finance: The company on Wednesday said that the Securities Appellate Tribunal has allowed it to withdraw its appeal in the matter related to the ₹4,000 crore Carlyle deal, which stands scrapped now.

Zomato: Is in talks to invest as much as $500 million in Grofers, making it the food delivery and restaurant platform’s largest investment so far in a company. The proposed deal marks an extension of its food delivery battle with Swiggy into the so-called ultrafast commerce segment, which has been attracting a slug of investor capital globally. Separately, Zomato UK, a step-down subsidiary of the company, has been dissolved effective from November 16, 2021.

Camlin Fine Sciences: Through the company’s newly incorporated wholly-owned subsidiary in Mexico, it has acquired 33.50 percent stake from the joint venture partner Controladora De Servicios Riso for a consideration of $8.50 million

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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