Weekly-Market-View-Elite-Wealth

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

U.S. equity futures, Asian stocks and crude oil fell Monday amid concerns about more curbs to tackle the omicron virus variant and tightening of monetary policy. Equities dropped in Japan, Australia and South Korea. Bond yields slid and gold edged higher as investors sought havens. The dollar was steady. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.77% to 16,887.50, as of 8:30 a.m. Elsewhere, Bitcoin held a decline in a sign of the reduced interest for speculative investments as 2021 comes to a close.

Economic Calendar:

  • INR: Foreign Exchange Reserve on 24th December, 2021.
  • INR: Infrastructure Output YoY on 31st December 2021
  • USD: Current Account (Q3) on 21st December, 2021.
  • USD: GDP Data on 22nd December, 2021.

Brokerage Radar:

MORGAN STANLEY ON PB FINTECH: Initiate on PB Fintech , with Equal-weight Target for PB Fintech at `1160/share PB Fintech is a focused player in Biz with large revenue pools Significant business vintage and a leadership position. Insurance distribution (~70% of revenues) is highly regulated Policybazaar in particular has engaged intensely Valuation appears full, driving our EW rating

MORGAN STANLEY ON SBI CARDS: Overweight, with Target Price of Rs 1350, RBI’s intent in capping credit card MDR & potential magnitude are both unclear, so SBI Cards stock is in uncharted territory However, think the market could be underestimating offsetting factors & arguments in favour of stake.

NOMURA ON CIPLA: Buy With Target Price of Rs 1051 Cipla on 18 Dec announced final USFDA approval of Lanreotide depot injection under 505b(2) pathway Approval is a +ve surprise & not factored explicitly into our earnings est As per IQVIA, annual sales were at $867m (MAT Nov 2021)

CLSA ON MACROTECH DEVELOPERS: Initiate Sell, Target Price Rs 1000 Already pricing in blue sky Current rich val ignores biz cyclicality, single-market focus, As its high-value, completed inventory in south & central Mumbai gets depleted, it may find it challenging to sustain high growth Est presales growth will taper from FY25 to low teens (11-12%) vs 18% Cagr over FY22-24CL.

MORGAN STANLEY ON FNS E- Com (Nykaa): Initiate with, Target Price of Rs 2183 Is a profitable nascent e-com biz Along with beauty’s strong growth, fashion could follow same playbook, achieving profitability faster than expected Bullish on biz, but risk reward appears balanced at CMP

International Markets:

U.S & Europe

Particulars 17th Dec Chg Chg(%)
Nasdaq 15,169.68 -10.76 -0.07
Dow 35078.10 -532.20 -1.48
FTSE 7,269.92 9.31 0.13
CAC 6,926.63 -78.44 -1.12
DAX 15,531.69 -104.71 -0.67
Dow Fut.* 35072.1 -293.3 -0.83

Asian markets:

Particulars 20th Dec Chg. Chg(%)
SGX Nifty 16,887.50 -131.5 -0.77
Nikkei 28,055.28 -490.4 -1.72
Straits Times 3,079.41 -32.22 -1.04
Hang Seng 23,011.67 -180.96 -0.78
Shanghai 3,613.53 -18.83 -0.52

ADR Watch:

Particulars 17th Dec Chg. Chg.(%)
Dr Reddy 60.45 -1.38 -2.23
HDFC Bank 63.39 -1.74 -2.67
ICICI Bank 18.81 -0.38 -1.98
Infosys 24.04 -0.07 -0.29
Tata Motor 30.31 -1.32 -4.17
Wipro 9.01 0.2 2.27

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.03 0.07
Brent 71.73 -1.73
Gold 1802.85 -0.11
Silver 22.433 -0.44

FIIs & DII

Particulars 17thDec 16thDec
FIIs -2069.90 -1468.71
DIIs 1478.52 1533.15

News Update:

Shriram Properties: The company will make its debut on the bourses today. The issue price has been fixed at Rs 118 per share.

Kotak Mahindra Bank: The bank’s subsidiary, Kotak Securities, will buy around 7.50 percent stake in Entroq Technologies

Zomato : The company has completed the acquisition of 7.89 percent stake in Bigfoot Retail Solutions.

Indiabulls Real Estate: The company will meet on December 22 to consider raising funds.

Future Retail: The Competition Commission of India suspended Amazon’s deal with Future Group after it reviewed complaints that the American e-commerce giant concealed information while seeking regulatory approval.

Mahanagar Gas : The company has hiked CNG price by Rs 2 to Rs 63.50/kg and PNG by Rs 1.50 to Rs 38/SCM

UltraTech Cement: The company has commenced operations from its bulk terminal at Kalamboli, Navi Mumbai.

RBL Bank: The lender has been authorised by RBI to collect indirect taxes on behalf of the Central Board of Indirect Taxes and Customs

GAIL India: The Company will set up 500 KL/day bio-ethanol plant in Gujarat.

Brookfield India Real Estate Trust: The REIT approved the acquisition of Seaview Developers, which owns Candor Techspace N2.

Ircon International: The Company emerged as the lowest bidder for a project floated by the National Highways Authority of India. Besides, the company entered into a pact with Ayana Renewable Power for setting up a 500 MW solar power plant through a joint venture company which will be incorporated by IRCON International and Ayana.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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