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

Asian stocks climbed Monday as traders digested the outcome of Japan’s election and fresh all-time highs for U.S. shares. The yen weakened and a dollar gauge was steady. Equities jumped more than 1% in Japan, where Prime Minister Fumio Kishida’s Liberal Democratic Party preserved its outright majority, avoiding worst-case scenarios and smoothing the way for fiscal stimulus. Australia and South Korea pushed higher. U.S. futures were in the green following records for the S&P 500 and Nasdaq 100 on optimism about corporate earnings. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.20 to 17,785.50, as of 8:00 a.m.

Economic Calender:

  • INR:  Nikkei Markit Manufacturing PMI (Oct) on 1st November, 2021.
  • INR: Trade Balance (Oct) on 2nd November, 2021.
  • USD: ISM Manufacturing PMI (Oct) on 01st November, 2021.
  • USD: Fed Interest Rate Decision on 03rd November, 2021.

Earnings: HDFC, Tata Motors, IRCTC, Indian Railway Finance Corporation, Aditya Birla Capital, Bayer Cropscience, Allcargo Logistics, Bajaj Consumer Care, Carborundum Universal, Chambal Fertilisers & Chemicals, Graphite India, IndInfravit Trust, Lux Industries, Man Infraconstruction, Nilkamal, The Phoenix Mills, Poly Medicure, Punjab & Sind Bank, Relaxo Footwears, Rupa & Company, Shipping Corporation of India, Sun Pharma Advanced Research Company, Star Cement, Venky’s (India), VRL Logistics, Whirlpool Of India& Company, Shipping Corporation of India, Sequent Scientific, Sun Pharma Advanced Research Company, Star Cement, Venky’s (India), VRL Logistics, Whirlpool Of India.

Results:

BPCL Q2FY22 (Standalone, QoQ): Revenues up 15% at Rs 81,536.67 crore Vs Rs 70,921.28 crore. Net profit up 79.4% at Rs 2,694.1 crore Vs Rs 1,501.65 crore.  Ebitda up 37.7% at Rs 4,477.71 crore Vs Rs 3,252.74 crore. Margins at 5.5% vs 4.6%. Declared an interim dividend of Rs 5 per share.

Vedanta Q2FY22 (Consolidated, QoQ): Revenue up 7% at Rs 30,401 crore Vs Rs 28,412 crore. Net profit up 9.3% at Rs 4,615 crore Vs Rs 4,224 crore .Ebitda up 4.9% at Rs 10,363 crore Vs Rs 9,871 crore. Margins at 34.1% vs 34.7%.

Steel Authority of India Q2FY22 (Consolidated, YoY): Revenue up 59% at Rs 26,828.01 crore Vs Rs 16,925.49 crore Net profit up 8.94 times at Rs 4,338.75 crore Vs Rs 436.52 crore Ebitda up 2.70 times at Rs 7,033.85 crore Vs Rs 1,902.23 crore Margin at 26.2% Vs 11.2% Declared an interim dividend of Rs 4 per share.

Shree Cement Q2FY22 (Standalone, QoQ): Revenues down 7.1% at Rs 3,205.87 crore Vs Rs 3,449.5 crore. Net profit down 25% at Rs 577.7 crore Vs Rs 661.7 crore. Ebitda down 16.9% at Rs 898.2 crore Vs Rs 1,013.5 crore. Margins at 28% Vs 29.4%

Brokerage Radar:

CLSA ON VEDANTA: Maintain outperform at the price of Rs 303.90 for the target price of Rs 320. Q2 in-line but higher costs likely to be offset by higher metal prices. Both aluminium & oil segments reported strong results. It lifted its cost guidance across segments, but higher metal prices will offset this.

MACQUARIE ON DR REDDY’S: Maintain outperform at the price of Rs 4635.80 for the target price of Rs 5692. Strong comeback on margin front in Q2 after a forgettable Q1. Raise FY22-24 EPS estimates by 6-9% Ex-Sputnik V & Grevlimid, expect co to deliver 14.3% EPS CAGR over FY21-24.

International Markets:

U.S & Europe

Particulars       29th Oct    Chg Chg(%)
Nasdaq 15,498.39 50.27 0.33
Dow 35,819.56 89.05 0.25
FTSE 7,237.57 -11.90 -0.16
CAC 6,830.34 26.12 0.38
DAX 15,688.77 -7.56 -0.05
Dow Fut.* 35,799.00 96.00 0.27

Asian markets:

Particulars   1st Nov    Chg Chg(%)
SGX Nifty 17,785.50 35.50 0.20
Nikkei 29,534.50 641.81 2.22
Straits Times 3,220.04 21.87 0.68
Hang Seng 25,049.45 -327.79 -1.29
Shanghai 3,534.00 13.34 -0.38

ADR Watch:

Particulars     29th Oct Chg Chg(%)
Dr Reddy 61.44 0.37 0.61
HDFC Bank 71.91 -2.40 -3.23
ICICI Bank 21.15 -0.14 -0.66
Infosys 22.28 -0.28 -1.24
Tata Motor 31.58 -0.46 -1.44
Wipro 8.96 -0.16 -1.75

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR        74.88 -0.04
Brent 83.65 -0.08
Gold 1787.15 0.18
Silver 23.942 -0.03

FIIs & DII

Particulars         29th Oct         28th Oct
FIIs -5142.63 -3819.51
DIIs 4342.51 836.60

News Update:

Reliance Industries: JioPhone Next will go on sale starting Diwali, November 4 at a price of Rs 6,499, the company said. The phone will be available across the country at Reliance Retail’s network of JioMart Digital retail locations.

Adani Enterprises: The Adani Group has acquired a significant minority stake in Flipkart-owned Cleartrip Pvt., a ticket and hotel booking portal. Through this investment, the Adani Group and the Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence, the company said.

Dr. Reddy’s Laboratories: Company has launched Ephedrine Sulfate Injection USP, 50 mg/mL, a therapeutic equivalent generic version of Akovaz Injection, 50 mg/mL in the U.S.

Tata Consumer Products: To transition its Tata Cha business, a tea café format quick service restaurant chain, to Qmin-Shops operated by a subsidiary of Indian Hotels Company.

Indiamart Intermesh: The company has acquired 7.70% stake in Mynd Solutions for Rs 32.43 crore.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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