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

Stocks fell Tuesday on escalation of tensions between the West led by the U.S. and Russia over Ukraine, supporting a rise in crude oil prices and shift to safe haven. Equities in Japan, Australia and South Korea fell. U.S. markets will resume trading following a holiday Monday. Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.78% to 17,071.50 as of 6: 00 am. Gold pushed past $1,910 an ounce, the dollar was steady. Oil surged while bitcoin hovered around $37,200.

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:

CITI ON INTERGLOBE AVIATION: Sell, TP Rs 1550 2 immediate ramifications of Gangwal’s resignation 1)overhang of excess supply of IndiGo shs(own 36.93%) 2)Recurrent conflict comes to an end Sell on-Rising competition, downside risks to market share & escalated cost.

NOMURA ON BANKS: Lower slippages drove better NIMs & credit costs, but higher operating costs pulled down core PPOP growth Believe credit costs should continue to come off Banking sector best capitalized in past 20 yrs Top picks are Axis Bank, ICICI Bank & SBI.

CITI ON KALYAN JEWELLERS: Buy, TP Rs 95 Mixed Trends So Far; Steady Execution Key To Re-rating Covid volatility notwithstanding, management remains fairly optimistic on biz prospects Risk-reward appears favourable

International Markets:

U.S & Europe:

Particulars 21st Feb Chg Chg(%)
Nasdaq 13,548.07 -168.65 -1.23
Dow 34079.18 -232.6 -0.68
FTSE 7,484.33 -29.29 -0.39
CAC 6,788.34 -141.29 -2.04
DAX 14,731.12 -311.39 -2.07
Dow Fut.* 34265.8 186.1 0.54

Asian markets:

Particulars 22nd Feb Chg. Chg(%)
SGX Nifty 16,988.50 -217.5 -1.26
Nikkei 26,327.90 -582.97 -2.17
Straits Times 3,411.29 -25.07 -0.73
Hang Seng 23,613.38 -556.69 -2.3
Shanghai 3,449.37 -41.24 -1.18

ADR Watch:

Particulars 21st 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 74.51 -0.21
Brent 94.10 1.18
Gold 1911.45 0.62
Silver 24.183 0.80


Particulars 21st Feb 18th Feb
FIIs -2261.9 -2529.96
DIIs 2392. 1929.08

News Update:

Adani Enterprises: The company signed a non-binding memorandum of understanding with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.

Tata Power: The company’s subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.

ICICI Bank: The company has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.

Hero MotoCorp: The company has created a new position of chief growth officer, integrating marketing, sales and aftersales functions. Ranjivjit Singh, head of marketing, has been elevated to this new role with immediate effect.

Hindalco: The company’s wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company’s carbon emissions by more than 420,000 tonnes each year.

IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff. Rukmani Social Welfare Trust has disposed 200,000 equity shares to support social activities.

IndiaMart InterMesh: The company entered into an agreement with Fleetx Technologies to acquire 16.35% stake for an aggregate amount of Rs 91.42 crore.

Affle India: The company’s subsidiary Affle International has acquired 28.33% stake in Appnext. Krsnaa Diagnostic: The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.

ISGEC: The company has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI, a joint venture of PTT, Thailand Petroleum Company and KTIS, through an EPC company, Sbang, Thailand.

Panacea Biotec: The pharma company has partnered the central government for Betacoronavirus vaccines.

Vedanta: Makes oil discovery in Barmer, Rajasthan.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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