Weekly-Market-View-Elite-Wealth

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

The rebound in global equities moderated in Asia Wednesday amid rising concerns over the economic impact due to the spread of omicron strain. T Equities in Japan were little changed while gains were modest in South Korea. U.S. futures fluctuated after S&P 500 snapped a three-day losing run. Nasdaq 100 gained nearly 2.5%. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.20% to 16,861, as of 8:20 a.m. Elsewhere, crude prices rebounded with Brent hovering about $74 per barrel. Bitcoin held above $48,800.

Economic Calendar:

  • INR: Foreign Exchange Reserve on 24th December, 2021.
  • INR: Infrastructure Output YoY on 31st December 2021
  • USD: Personal Spending MoM on 23rd December, 2021.
  • USD: GDP Data on 22nd December, 2021.

Brokerage Radar:

ANTIQUE ON LAKSHMI MACHINE WORKS: Buy, Target Price Rs 11940 Believe recent correction (down 14% since peak) provides opportunity to make a long-term investment Is a leading player in domestic textile machinery industry, with more than 60% market

NOMURA ON HUL: Buy, Target Price Rs 2950 3Q22F market demand trends — Rural growth decelerates; urban sees recovery Category rebalancing leading to better mix; vols impacted due to slow rural & grammage cuts 3Q22F rev/vol/CAGR est are +11%/+2%

MORGAN STANLEY ON PAYTM: Morgan has given overweight call with target price of Rs. 1875,  Company Has Built A Strong Customer Acquisition Engine Via PaymentsIt Is Now Rapidly Expanding Into Financial Services At LowIncremental Cost.

GOLDMAN SACHS ON PAYTM: Neutral Rating with target price of Rs. 1630 Dominant Platform But In A Fast Evolving Space Expect TAMs To Grow At 20%+ CAGR Over The Next 5 Years, Well Positioned Given Its Industry- leading Scale & Engagement Forecast Non-payments Revenue To Grow From 30% To 50% By FY30,Overall Revenue Growth Seen At A 22% FY22-30 CAGR.

CITI ON HUL: Buy, Target Price of Rs 3065 See co navigating market challenges around cost inflation & rural growth deceleration reasonably well Expect higher pricing-led growth (est. c8% in 3Q) driving steady rev’s overall Retain 3QFY22 forecasts of 11% rev growth & 15% EBITDA growth

International Markets:

U.S & Europe

Particulars 21st Dec Chg Chg(%)
Nasdaq 15,341.09 360.15 2.4
Dow 35492.70 560.54 1.60
FTSE 7,297.41 99.38 1.38
CAC 6,964.99 94.89 1.38
DAX 15,447.44 207.77 1.36
Dow Fut.* 35546.10 14.7 0.04

Asian markets:

Particulars   22nd Dec    Chg. Chg(%)
SGX Nifty 16,861.50 33.5 0.2
Nikkei 28,531.91 14.32 0.05
Straits Times 3,095.37 10.29 0.33
Hang Seng 22,971.33 226.47 1
Shanghai 3,625.13 31.53 0.88

ADR Watch:

Particulars 21st Dec Chg. Chg.(%)
Dr Reddy 61.59 0.93 1.53
HDFC Bank 63.14 1.17 1.89
ICICI Bank 18.92 0.48 2.6
Infosys 24.22 0.53 2.24
Tata Motor 30.38 0.91 3.09
Wipro 9.3 0.29 3.22

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.60 -0.40
Brent 74.34 0.46
Gold 1790.15 0.08
Silver 22.53 0.06

FIIs & DII

Particulars 21stDec 20th Dec
FIIs -1209.82 -3565.36
DIIs 1404.89 2764.02

News Update:

Metro Brands: The company will make its debut on the bourses today. The final issue price is Rs 500 per share.

HCL Technologies: The company bagged a five-year digital transformation contract from CEMEX.

India Cements: Radhakishan S Damani and Others acquired 2.03 percent stake in the company through open market transaction. With this, the stakeholding has increased to 22.76 percent from 20.73 percent.

YES Bank: The lender’s board of directors has approved raising funds up to Rs 10,000 crore.

MOIL: The company has fixed December 31 as the record date for determining the entitlement and the names of eligible shareholders/beneficial owners of buyback. The total buyback shares represent 14.3 percent of the total number of equity shares in the paid-up share capital of MOIL.

IndiaMART InterMESH : Through its wholly-owned subsidiary, Tradezeal Online, the company has agreed to acquire 4,784 compulsorily convertible series A preference shares and 100 equity shares aggregating to 26.01 percent of Edgewise Technologies.

JSW Energy: The company’s wholly-owned subsidiary JSW Energy (Barmer) has completed buyback of shares aggregating to Rs 1,000 crore

Bal Pharma: ICRA upgraded credit rating outlook from ‘stable’ to ‘positive’

Credit Access Grameen : The company will invest up to Rs 250 crore in subsidiary Madura Micro Finance to augment the capital adequacy ratio of the arm.

Visagar Polytex: The company will consider a proposal to raise funds on December 24, by issue of equity shares to the existing shareholders through a rights issue.

Zee – Sony Merger : Zee to issue 3.7 cr shares to ESSEL Holdings for Rs 1,101 cr ,Zee Ent to issue 85 shares of Sony for 100 shares of Zee Ent .To issue 133 shares of Sony for every 10 shares held in Bangla Entertainment & Pvt Ltd (BEPL). Punit Goenka will be MD & CEO of merged entity.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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