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

U.S. equity futures and Asian stocks fell Monday as investors shifted to havens including bonds and gold amid geopolitical concerns. Nasdaq 100 contracts shed 1%, while stocks in Japan, Australia and South Korea retreated. Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.76% to 17,148.50 as of 6:30 am. Gold was near the highest since June. The dollar was steady. In cryptocurrencies, Bitcoin held a retreat from the weekend and was trading around $38,000.

Economic Calendar:

  • INR: RBI MPC Minutes on 24th February 2022.
  • INR: Forex Reserve on 25th February 2022.
  • USD: Initial Job Claims on 24th February, 2022.
  • USD: GDP(QoQ) on 24th February, 2022.

Brokerage Radar:

GOLDMAN SACHS ON PAYTM: Buy, TP Rs 1460 Continues to gain market share across both UPI & non-UPI payments Cos lending biz seeing strong traction See risk-reward skewed to the upside Analysis suggests stk now pricing in significant regulatory, competition as well as execution headwinds.

CITI ON AMBUJA: Downgrade to Neutral, TP cut to Rs 365 from Rs 435 Rising East Exposure; Prefer ACC on Valuations With Ambuja’s newly announced capex, East should account for 35% of capacity, taking away geographic advantage vs. ACC. East Expansion Unexciting Q4 Below Expectation On High Power Costs.

CLSA ON GREEN HYDROGEN POLICY: 1st step: To ease supply side & ease of doing biz Next step- enable ecosystem, demand creation with mandates & viability-gap-funding for early adopters Cos with GH2 transition exposure include NTPC, Adani Ent, RIL, L&T, MTAR, ACME, Linde, IOC & GAIL.

CLSA ON NTPC: Buy, TP Rs 180 A key play on India’s entry into global GH2 market following govt launching National Hydrogen Mission While many players have spoken about GH2, NTPC is one actually implementing projects, with India’s largest electrolyser & a circular economy project. If NTPC is able to secure a 15% share of the GH2 market to reach 759k kgs by FY32CL, biz could add Rs15/sh, or 11% to its current market price.

International Markets:

U.S & Europe:

Particulars 18th  Feb Chg Chg(%)
Nasdaq 13,548.07 -168.65 -1.23
Dow 34079.18 -232.6 -0.68
FTSE 7,513.62 -23.75 -0.32
CAC 6,929.63 -17.19 -0.25
DAX 15,042.51 -225.12 -1.47
Dow Fut.* 34265.8 186.1 0.54

Asian markets:

Particulars 21st Feb Chg. Chg(%)
SGX Nifty 17,190.50 -89.5 -0.52
Nikkei 26,926.01 -196.06 -0.72
Straits Times 3,426.51 -2.39 -0.07
Hang Seng 24,156.62 -171.09 -0.7
Shanghai 3,477.59 -13.17 -0.38

ADR Watch:

Particulars 18th Feb Chg. Chg.(%)
Dr Reddy 56.91 0.78 1.39
HDFC Bank 66.95 0.99 1.5
ICICI Bank 19.91 0.19 0.96
Infosys 22.51 0.08 0.36
Tata Motor 32.67 -0.3 -0.91
Wipro 7.33 -0.03 -0.41

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.66 -0.60
Brent 90.84 -0.62
Gold 1900.00  0.01
Silver 23.832 -0.67

FIIs & DII:

Particulars 18th Feb 17th Feb
FIIs -2529.96 -1242.10
DIIs 1929.08 901.10

News Update:

InterGlobe Aviation: Promoter Rakesh Gangwal has resigned from the board of directors of the IndiGo airline operator with immediate effect. Gangwal in a letter to the board said he plans to slowly dilute his holding in the company over the next five years.

Future Retail: The company has paid $14 million as interest for the half year on 5.60% Senior Secured Notes (USD). The company had missed the payment which was due on Jan. 24.

Gulf Oil Lubricants: The company will buyback 14,16,667 shares, representing 2.8% of the total paid up capital at buyback price of Rs 600 per share.

HDFC: Srikanth Nadhamuni resigned from the board as non-executive non-independent director citing a potential future deal between HDFC Bank and an entity where he might be interested. Kansai

Nerolac Paints: The company appointed Anuj Jain as the Managing Director for a term of five years after retirement of Vice Chairman and Managing Director HM Bharuka.
Canara Bank: The bank has subscribed to 1,20,000 shares of Debt Resolution Company for 14.9% stake which will be reduced to 5% by March 31, 2022.

Union Bank: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced below 10% in due course.

SBI: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced to 5% by March 31, 2022.

Bank of Baroda: The bank has subscribed to 99,000 shares of India Debt Resolution Company for a 12.3% stake which will be diluted to 9.9% by March 31, 2022.

Gujarat Mineral Development: The company has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 metres from its earlier approved depth of 94 metres at the Tadkeshwar Lignite Mines.

Hinduja Global: Wins $281 Million U.K. Test-and-Trace Contract.

JMC Projects: To merge with Kalpataru Power Transmission in an all-equity merger. Shareholders of JMC will be issued equity shares of Kalpataru in the ratio of 4:1. The merged entity will have a combined order book of Rs 37,000 crore.

Godawari Power & Ispat: Gets into agreement to sell 50 MW (CGEL) solar thermal power plant for Rs 665 crore.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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