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

Asian stocks were mixed early Thursday as investors weighed corporate earnings, elevated inflation and risks from China’s property sector. Japanese shares edged down, while Australia and South Korea fluctuated. U.S. futures slipped after a mixed Wall Street session that saw the S&P 500 rise to the cusp of a record and the tech-heavy Nasdaq 100 dip. Tesla Inc.’s revenue fell short of estimates but third-quarter profit beat projections despite semiconductor and supply-chain challenges. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.20% to 18,354.00 as of 8:10 a.m.

Economic Calender:

  • INR:  Bank Loan & Deposit Growth on 22nd October, 2021.
  • INR:  RBI MPC Meeting MInutes on 22nd October, 2021.
  • USD: Initial Jobless Claims on 21st October, 2021.
  • USD: Services PMI (Oct) on 22nd October, 2021.

Earnings: Asian Paints, JSW Steel, Biocon, Agro Tech Foods, IDBI Bank, LIC Housing Finance, Mphasis, Indian Energy Exchange, Borosil Renewables, Sterlite Technologies, TVS Motor Company, Can Fin Homes, CG Power and Industrial Solutions, Container Corporation of India, Gateway Distriparks, Heritage Foods, ICICI Lombard General Insurance Company, IIFL Securities, Indian Hotels Co., Indiamart Intermesh, Jubilant Industries, Lemon Tree Hotels, Kirloskar Pneumatic Co, Bank of Maharashtra, Music Broadcast, Sasken Technologies, South Indian Bank, Tanla Platforms, Trident, VST Industries.

Results:

Angel Broking (Consolidated, QoQ): Gross addition in client base by 1.3 mn clients vs 1.2 mn clients in Q1FY22 Total Income up 13.4% at Rs 538.2 cr vs Rs 474.5 cr EBIDTA up 10.6% at Rs 183.9 cr vs Rs 166.3 cr PAT up 10.6% at Rs 134.3 cr vs Rs 121.4 cr.

Havells India Q2FY22 (Consolidated, YoY): Revenue up 32% at Rs 3,238.04 crore Vs Rs 2,459.49 crore Net profit down 7% at Rs 302.39 crore Vs Rs 326.36 crore Ebitda up 5% at Rs 444.97 crore Vs Rs 421.94 crore Margin at 13.7% Vs 17.2% Declared an interim dividend of Rs 3 per equity share

Brokerage Radar:

MS ON JUBILANTFOOD: Maintain overweight at the price of Rs 3953.50 for the target price of Rs 5000. Q2 earnings beat their estimate & consensus. Co reiterates aim to become a multi-country, multi-brand, tec-driven QSR biz. Remain bullish on the growth potential. Correction could be a good opportunity for long-term investors to engage.

JEFFERIES ON TATA MOTORS: Maintain buy at the price of Rs 489.70 for the target price of Rs 625. New sub-compact SUV punch holds strong volume potential. Punch appears well styled for its price & has received high safety ratings. Like co given its improving India franchise, early leadership in India EVs. we also like JLR’s focus returning to higher-margin land rover brand.

International Markets:

U.S & Europe

Particulars 20th Oct Chg Chg(%)
Nasdaq 15,121.68 -7.41 -0.05
Dow 35,609.34 152.03 0.43
FTSE 7,223.10 5.57 0.08
CAC 6,705.61 35.76 0.54
DAX 15,522.92 7.09 0.05
Dow Fut.* 35,468.00 -9.00 -0.03

Asian markets:

Particulars 21st Oct Chg Chg(%)
SGX Nifty 18,354.00 37.00 0.20
Nikkei 29,161.67 -93.88 -0.32
Straits Times 3,199.76 1.68 0.05
Hang Seng 26,167.60 31.58 0.12
Shanghai 3,596.12 9.12 0.25

ADR Watch:

Particulars 20th Oct Chg Chg(%)
Dr Reddy 63.09 -0.75 -1.17
HDFC Bank 77.57 -0.83 -1.06
ICICI Bank 19.97 -0.12 -0.60
Infosys 24.13 -0.09 -0.37
Tata Motor 32.36 0.36 1.13
Wipro 9.75 -0.20 -2.01

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.87 -0.62
Brent 85.73 -0.10
Gold 1789.15 0.24
Silver 24.503 0.24

FIIs & DII

Particulars 20th Oct 19th Oct
FIIs -1843.09 -505.79
DIIs -1608.73 -2578.22

News Update:

PNB Housing Finance: Board to meet on November 2 to consider issuance of Rs 2,000 crore worth non-convertible debentures on private placement basis.

Future Retail: Arbitral tribunal, constituted under SIAC, ruled in favour of Amazon on the jurisdictional issue in case against Future Group. Future Retail party to the arbitration agreement between Amazon and Future Coupons, tribunal said. Future Retail had argued that non-signatories to an arbitration agreement cannot be made party to the proceedings.

Jindal Stainless (Hisar): The company has commissioned 26,000 tonnes per annum capacity precision strip mill as part of the first phase of its latest brownfield expansion plan at its specialty products division. This capacity expansion takes the total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA.

L&T Technology Services: Board has approved the scheme of amalgamation of Esencia Technologies India, Graphene Semiconductor Services and Seastar Labs, the wholly owned subsidiaries, with the company.

Reliance Industries: Reliance Jio may reportedly invest in Google-backed Dunzo by participating in the hyperlocal delivery startup’s new fundraising round of $200-250 million.

Bandhan Bank: Bandhan Financial Holdings has offered to buy Future Group’s stake and acquire a controlling interest in Future Generali India Life Insurance Company-a three-way joint venture between the Future Group, Industrial Investment Trust (IIT) and Italian insurance and asset management giant Generali. The holding company of Bandhan Bank is willing to pay a control premium to buy Future Group’s 34% and another 17% stake in the insurer, as per the report.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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