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

Asian stocks declined Thursday following a retreat in U.S. equities. Shares were volatile in Japan and fell in South Korean and Australia. U.S. contracts wavered after the S&P 500 swung between gains and losses before closing down 1%. An ongoing shift away from technology shares left the Nasdaq Composite in correction territory, more than 10% off a November high. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.44% to 17,898 as of 7:20 a.m. Elsewhere, crude oil fell and bitcoin hovered around $41,700.

Economic Calendar:

  • INR: Bank Loan Growth on 21st January, 2022.
  • INR: Bank Deposit Growth on 21st January 2022.
  • USD: US Lending Index on 21st January, 2022.
  • USD: US Baker Hughes on 21st January, 2022.

Earnings: Hindustan Unilever, Biocon, Asian Paints, Bajaj Finserv, Havells India, Persistent Systems, PNB Housing Finance, Agro Tech Foods, Mphasis Ltd

Results:

Bajaj Auto Ltd: The company reported continuing strong exports with average monthly volumes in excess of 2,19,000 units. In its quarterly earnings report released on Wednesday, the automaker said it exported a record 2.5 million units for the calendar year 2021.

ICICI Lombard: The country’s largest private-sector non-life insurer ICICI Lombard General Insurance on Wednesday reported a modest 1.27 percent year-on-year increase in its profit after tax (PAT) in the quarter ended December 31, 2021. In its quarterly earnings report, the insurer reported a PAT of Rs 318 crore as against Rs 314 crore in the corresponding quarter the previous year.

Tata Communications : The company’s net profit was down 7 percent at Rs 395.21 crore in Q3FY22 against Rs 425.38 crore in Q3FY21 and revenue was up at Rs 4,184.89 crore versus Rs 4,174.02 crore, QoQ.

Rallis India : The company’s officials will meet analysts and investors on January 20. The company also reported a 30 percent fall in consolidated net profit of Rs 39.56 crore in Q3FY22 versus Rs 56.49 crore in Q3FY21, and revenue was down 13 percent at Rs 628.08 crore against Rs 727.80 crore, QoQ.

Brokerage Radar:

JEFFERIES ON TATA MOTORS: Buy, TP Rs 625 Believe co is in early phase of a multi-year turnaround led by confluence of improved strategy & cyclical recovery Truck & PV demand recovering from worst slowdown in decades, & Co is gaining share.

CLSA ON TATA MOTORS: Sell, TP Rs 408 Sales of PHEVs & BEVs rose significantly in 2021 in major markets JLR’s share in BEV+PHEVs is less than 1% in US & China & around 2% Europe Shift to BEVs is a threat to JLR’s market share, which is being ignored by market currently.

MORGAN STANLEY ON L&T INFOTECH: All-around beat on rev & margins Management commentary remains constructive on durability of demand environment Nudge up estimates but remain UW on a relative basis given better risk reward in other mid-caps UW, TP RS 6600.

CITI ON JUST DIAL: Neutral, TP Cut to Rs 825 from Rs 870 3Q missed est & highlight several challenges Management signaled intent to pursue a more aggressive growth strategy – namely stepped-up S&M recruitment & new product launches Cut FY23/24E EPS est by 14%/10%.

JEFFERIES ON APOLLO HOSPITALS: Buy, TP Rs 6060 Stk corrected 10% since 31-Dec Current stk price reflects zero value for digital 24/7 & discounted multiples for hospital & offline pharmacy parts Wiew current price as an enhanced entry point

International Markets:

U.S & Europe

Particulars 19th Jan Chg Chg(%)
Nasdaq 14,340.26 -166.64 -1.15
Dow 35368.47 -543.34 -1.51
FTSE 7,589.66 26.11 0.35
CAC 7,172.98 39.15 0.55
DAX 15,809.72 37.16 0.24
Dow Fut.* 35067.2 38.5 -0.11

Asian markets:

Particulars 20th Jan Chg. Chg(%)
SGX Nifty 17,910.00 -67.5 -0.38
Nikkei 27,594.29 127.06 0.46
Straits Times 3,285.87 1.93 0.06
Hang Seng 24,547.10 419.25 1.74
Shanghai 3,563.02 4.84 0.14

ADR Watch:

Particulars 19th Jan Chg. Chg.(%)
Dr Reddy 62.35 -0.42 -0.67
HDFC Bank 70.15 -0.75 -1.06
ICICI Bank 21.43 -0.46 -2.1
Infosys 24.47 -1.04 -4.08
Tata Motor 34.3 0.52 1.54
Wipro 8.24 -0.14 -1.67

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.42 -0.19
Brent 88.07 -0.42
Gold 1841.50 -0.09
Silver 24.212 -0.08

FIIs & DII

Particulars 19th Jan 18th Jan
FIIs -2704.77 -1254.95
DIIs -195.07   -220.20   

News Update:

HCL Technologies : The company appointed Prabhakar Appana as Senior Vice President and the Global Head of its AWS Ecosystem Business Unit.

Lupin Ltd: Global pharma major Lupin Limited (Lupin) today announced that it has entered into a partnership with Shenzhen Foncoo Pharmaceutical Co. Ltd (Foncoo). This is Lupin’s first partnership arrangement in China and reinforces Lupin’s commitment to bringing high quality generic and complex generic medicines to patients around the world.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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