Market-View-Feature-Image

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

U.S. equity futures and Asian stocks rose as investors evaluated the impact of curbs against the omicron virus variant and the outlook for President Joe Biden’s stymied economic agenda. Equities climbed in Japan and South Korea and fluctuated in Australia. Longer-maturity Treasuries maintained a drop. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.83% to 16,796.50, as of 8:20 a.m. The dollar was little changed and risk-sensitive currencies, such as those of commodity producers, held losses. Crude oil pared a tumble. Bitcoin hovered around $47,000 mark

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 WIPRO: Equalweight,with Target Price of Rs 700 Acquires Edgile Edgile services 31% of Fortune 100 & 20% of Fortune 500 cos Wipro & Edgile plan to develop together Wipro Cyber Transform, an integrated platform to help enterprises enhance boardroom governance of cybersecurity risk.

JEFFERIES ON GUJRAT GAS:  Buy, Target Price of Rs 830 Recent Morbi channel checks suggest vols at 6.5-7/5.7 mmscmd in Nov/ Dec (Mar-21: 7.7-7.8) Vols have been range-bound in order to mitigate exposure to high Spot LNG prices but underlying demand seems to be robust at 8-8.5 mmscmd.

MORGAN STANLEY ON GODREJ CONSUMER PRODUCT LIMITED : Underweight , Target Price Rs 829 New MD & CEO, discussed strategic roadmap ahead Highlighted a medium term ambition of double digit vol growth with moderate margin expansion, led by driving category development in existing core categories, & simplifying operation.

MACQUAIRE ON SHRIRAM TRANSPORT: Downgrade to Neutral, Target at 1250/share Downgrade on back of SHTF merger with SCUF, No clear synergies form merger Big isn’t beautiful integration will be tall task Larger NBFC will draw more regulatory scrutiny Indian financials usually underperform post-merger

ANTIQUE ON NALCO: Maintain BUY, Target Price at 126/share Firm aluminum prices and stable costs to drive profits Nalco is among lowest cost bauxite & alumina producer globally Aluminium spot prices remain firm Energy and output restrictions led to a decline.Prices would be supported by the continued outage at Jamalco refinery Maintain FY24 financial estimates, target price of `126/share

International Markets:

U.S & Europe

Particulars 20th Dec Chg Chg(%)
Nasdaq 14,980.94 -188.74 -1.24
Dow 34932.16 -433.28 -1.23
FTSE 7,198.03 -71.89 -0.99
CAC 6,870.10 -56.53 -0.82
DAX 15,239.67 -292.02 -1.88
Dow Fut.* 35114.10 181.90 0.52

Asian markets:

Particulars 21st Dec Chg. Chg(%)
SGX Nifty 16,796.50 138.00 0.83
Nikkei 28,496.83 559.02 2
Straits Times 3,091.95 18.98 0.62
Hang Seng 22,751.62 6.76 0.03
Shanghai 3,594.80 1.2 0.03

ADR Watch:

Particulars 21st Dec Chg. Chg.(%)
Dr Reddy 60.66 0.21 0.35
HDFC Bank 61.97 -1.42 -2.24
ICICI Bank 18.44 -0.37 -1.97
Infosys 23.69 -0.35 -1.46
Tata Motor 29.47 -0.84 -2.77
Wipro 9.01 0 0

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.91 -0.24
Brent 72.19    0.94
Gold 1790.45 -0.23
Silver 22.23 -0.26

FIIs & DII

Particulars 21stDec 17thDec
FIIs -3565.36 -2069.90
DIIs 2764.02 1478.52

News Update:

Hatsun Agro Product : The Ice Cream manufacturing plant with a production capacity of 1,00,000 kg per day at Govindapur, Telangana has started commercial production.

Excel Realty N Infra : The company has expressed its intention to diversify its core business activities and focus more on trading, import and export of agro-products, including rice, pulses, soya, sunflower from January 2022 onwards

TeamLease Services : The company’s step-down wholly-owned subsidiary Evolve Technologies and Services has been merged into the company’s wholly-owned subsidiary, TeamLease Digital.

Rolex Rings : The company has entered into an agreement with the Gujarat Government for the development of Textile & Apparel Park, IT Park and Toy Park at Gondal district.

RailTel Corporation of India : The company has received a work order from Defence R&D Organisation for expansion and enhancement of CIAG network capacity at a total cost of Rs 68.31 crore.

IRB Infrastructure Developers : Competition Commission of India approves acquisition up to 16.94 percent equity share capital of IRB Infrastructure Developers by Bricklayers Investment

Adani Enterprises : The company received order from Uttar Pradesh Expressways Industrial Development Authority for three Greenfield Ganga Expressway Projects in Uttar Pradesh on a toll basis.

Wipro : The company will acquire the entire stake in Texas-headquartered Edgile, for $230 million, to strengthen its leadership in strategic cybersecurity services.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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