View on market: Stay Cautious, be with quality business:
Most Asian stocks fell Monday amid concerns about European Covid-19 curbs and the risk of the Federal Reserve speeding up stimulus withdrawal. Shares declined in Japan and Australia, while South Korea climbed amid data showing export growth. U.S. futures edged up after sectors sensitive to the economic outlook led the S&P 500 lower The Singapore-traded SGX Nifty have changed at 17,788.00, as of 8:05 a.m. A gauge of the dollar was steady. Oil extended declines on the prospect of key consumers adding emergency supplies as well as the flareup in Covid-19 cases in Europe.
Economic Calendar:
- INR: FX Reserves, USD on 25th November, 2021.
- INR: GDP Quarterly (YoY) (Q2) on 30th November, 2021.
- USD: Existing Home Sales (Oct) on 22nd November, 2021.
- USD: Services PMI (Nov) on 23rd November, 2021.
- USD: GDP (QoQ) (Q3) on 24thNovember, 2021.
Brokerage Radar:
JEFFERIES ON RELIANCE: Maintain buy at the price of Rs 2473 for the target price of Rs 2880. Both parties have decided not to proceed with proposed transaction. This comes as a disappointment with crude at $80 & Aramco’s chmn on board. It fails to set a benchmark of $75 Bn valuation for the 02C business. Cancellation has no bearing on RIL’s balance sheet, which has benign leverage. Lower 02C valuation to $70 Bn.
MORGAN STANLEY ON ONGC: Maintain overweight at the price of Rs 154 for the target price of Rs 235. ONGC & Saudi in MoU for long-term supply contracts for crude, petro pdts. Tailwinds of policy, commodity, refining margin supporting outperformance. Stock is pricing in $55/bbl brent & no rise in domestic gas prices.
International Markets:
U.S & Europe
| Particulars | 19th Nov | Chg | Chg(%) |
| Nasdaq | 16,057.44 | 63.73 | 0.40 |
| Dow | 35,601.98 | -268.97 | -0.75 |
| FTSE | 7,223.57 | -32.39 | -0.45 |
| CAC | 7,112.29 | -29.69 | -0.42 |
| DAX | 16,159.97 | -61.76 | -0.38 |
| Dow Fut.* | 35,640.00 | 91.00 | 0.26 |
Asian markets:
| Particulars | 22ndNov | Chg | Chg(%) |
| SGX Nifty | 17,788.00 | 84.00 | 0.47 |
| Nikkei | 29,677.95 | -67.92 | -0.23 |
| Straits Times | 3,242.36 | 10.02 | 0.31 |
| Hang Seng | 25,021.99 | -27.98 | -0.11 |
| Shanghai | 3,574.77 | 14.40 | 0.40 |
ADR Watch:
| Particulars | 19th Nov | Chg | Chg(%) |
| Dr Reddy | 62.82 | -0.84 | -1.32 |
| HDFC Bank | 71.96 | 1.53 | 2.17 |
| ICICI Bank | 20.50 | 0.12 | 0.59 |
| Infosys | 23.65 | -0.09 | -0.38 |
| Tata Motor | 33.14 | -1.80 | -5.15 |
| Wipro | 8.96 | -0.13 | -1.43 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.24 | -0.05 |
| Brent | 78.41 | -0.08 |
| Gold | 1848.05 | -0.19 |
| Silver | 24.745 | -0.15 |
FIIs & DII
| Particulars | 18th Nov | 17th Nov |
| FIIs | -3930.62 | -344.35 |
| DIIs | 1885.66 | -61.14 |
News Update:
Reliance Industries: The company and Saudi Aramco have agreed to re-evaluate the latter’s proposed investment in RIL’s oil-to-chemicals business. Consequently, the company will withdraw its application with NCLT for segregating the O2C business. The decision to re-evaluate the proposed investment follows RIL’s recently announced plans to develop green energy giga complex at Jamnagar.
Cadila Healthcare: Zydus Cadila has received final approval from the U.S. FDA to market Decitabine for injection in the strength of 50 mg/vial single-dose vial. Decitabine is used to treat myelodysplastic syndromes, certain types of blood or bone marrow cancer. The company has received has also received final approval from the FDA to market Nelarabine Injection 250MG/50ML in the United States.
IRB Infrastructure Developers: Approved Rs 5,347 crore share sale to Cintra INR Investments BV and Bricklayers Investment.
ONGC: The company signed a MoU with Saudi Aramco to explore long-term supply contracts of crude oil, refined petroleum and petrochemical products. Both sides will also look at the demand nd supply of low carbon energy as part of this pact.
IRCTC: The Ministry of Railways has withdrawn its decision to terminate all existing contracts of mobile catering (currently kept in abeyance) involving the scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions. Further, the ministry has conveyed the decision to resume the services of cooked food in trains.
Natco Pharma: The company has launched a novel fixed-dose combination of Trifluridine + Tipiracil in India under the brand name Tipanat as a pack of 20 tablets in a bottle. Tipanat is a novel antineoplastic nucleoside analog indicated for the treatment of advanced colorectal and gastric cancer.
Motherson Sumi Systems: Ningbo SMR Huaxiang Automotive Mirrors, a 50:50 joint venture in China between Samvardhana Motherson Reflectec and Ningbo Huaxiang Electronic Co, has completed the acquisition of a 60 percent stake in Nanchang JMCG Mekra Lang Vehicle Mirror Co Ltd..
India Grid Trust: Consortium of IndiGrid 1 and IndiGrid 2 participated in the tariff-based competitive bidding to establish ‘Transmission system for evacuation of power from Renewable projects in Osmanabad area (1 GW) in Maharashtra’ on build, own, operate and maintain basis by REC Power Development and Consultancy. The estimated cost for the same is around Rs 170 crore. The company awaits receipt of Letter of Intent.
Route Mobile: The company has raised Rs 867.49 crore via QIP.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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