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

Stocks declined while US equity futures full on Monday amid rising threats to global and the U.S. central bank’s focus to tighter monetary settings in its bid to tackle surge in inflation. Equities in Japan, Australia and South Korea fell after the worst week for global shares since late June. At 7:10 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.42% lower at 17,669 points. Key for markets this week is the Fed’s symposium at Jackson Hole, Wyoming. West Texas Intermediate crude dropped 1.1% to $89.78 a barrel.

Economic Calendar:

  • USD : New Home Sales (Jul) 23rd Aug, 2022
  • USD : Core Durable Goods Orders (MoM) (Jul) 24th Aug, 2022
  • INR : M3 Money Supply 24th Aug, 2022
  • INR : FX Reserves, USD 26th Aug, 2022

Q1FY23 Result Today: Gillette India, Adhbhut Infrastructure

Who’s Meeting Whom:

Mahindra Lifespace Developers: To meet analysts and investors on August 22.

UltraTech Cement: To meet analysts and investors on August 22.

Brokerage Radar:

NOMURA ON KEC INT.: Maintain BUY, TP Rs 566; EBITDA margins to improve 2HFY23F onwards; Strong tender pipeline drives order inflows growth; Expect profitability to improve in 2HFY23F on lower commodity prices & completion of legacy loss-making Brazil projects

CLSA ON ICICI BANK: Maintain BUY, TP Rs 1,040; Bank now delivering industry-leading metrics across most areas; corporate book profitability has bounced back sharply, & post Covid, retail profitability should normalise in FY23

KOTAK INSTL EQUITIES On ICICI BANK: Maintain BUY, TP raised to Rs 1,025; One of the best-positioned banks that is standing tall & strong by leading recovery in earnings, loan growth and profitability metrics post Covid; Provisions in retail division have declined YoY  

International Markets:

U.S & Europe:

Particulars      19th August Chg. Chg.(%)
Nasdaq 12705.22 -260.12 -2.01
Dow 33706.74 -292.3 -0.86
FTSE 7550.37 8.52 0.11
CAC 6495.83 -61.57 -0.94
DAX 13544.52 -152.89 -1.12
Dow Fut.* 33623.50 -83.20 -0.25

Asian markets:

Particulars      22nd August Chg. Chg.(%)
SGX Nifty 17700 -44.00 -0.25
Nikkei 28805.52 -124.81 -0.43
Straits Times 3254.56 8.05 0.25
Hang Seng 19766.80 -6.23 -0.03
Shanghai 3270.32 12.24 0.38

ADR Watch:

Particulars     19th August  Chg.       Chg.(%)
Dr. Reddy 52.22 -0.51 -0.97
HDFC Bank 63.05 -1.57 -2.43
ICICI Bank 21.84 -0.47 -2.11
Infosys 19.78 -0.19 -0.95
Tata Motor 29.28 -1.35 -4.41
Wipro 5.33 -0.10 -1.84

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR             79.78     0.13
Brent     95.73    -1.02
Gold         1761.15 -0.10
Silver     19.032    -0.19

FIIs & DIIs:

Particulars 19th August 18th August
FIIs                                 1110.90     -1706.00
DIIs      -1633.21        470.79

News Update:

Adani Power: has agreed to acquire DB Power Ltd. from the Bhaskar Group at an enterprise value of Rs 7,017 crore, adding to its thermal power capacity. DB Power owns and operates a 1,200-megawatt (2X600 MW) thermal plant at Jahangir Champa district of Chhattisgarh.

Astra Zeneca: gets Import & Market permission from #DCGI (Drugs Controller General of India) for Olaparib Film-Coated tablets. The company can now launch Olaparib 100 mg and 150 mg tablets in India.

M&M: Shareholders approve merger of Mahindra Electric Mobility with co.

India Pesticides: Capex of Rs. 70cr. Planned for FY23. Hamirpur, UP facility to start production from Q3FY24.

IIFL Finance: CDC Group PLC sold 1.35 cr. Shares (3.65%) worth Rs. 453cr. Morgan Stanley bought 35 lakh shares at Rs. 334/share.

JSW Steel: has entered into a joint venture agreement with National Steel Holding for establishing scrap shredding facilities in India.

Central Bank of India: has entered into strategic co-lending partnership with lncred Financial Services to offer loans to MSME Borrowers.

Shilpa Medicare: The subsidiary Shilpa Biologicals (SBPL) has successfully completed the phase 3 human clinical studies of its first biosimilar, the 100mg/ml high concentration (HC) Adalimumab biosimilar. The company has submitted the dossier to the CDSCO for review and grant of marketing or manufacturing license – a first in India. The drug is expected to cater to diseases such as rheumatoid arthritis, plaque psoriasis, and Ulcerative Colitis.

Tejas Networks: has acquired the remaining 93,571 equity shares in Saankhya Labs at a price of Rs 454.19 per share by paying Rs 4.25 crore through secondary purchase. With the said transaction, it has acquired the entire 62,51,496 equity shares or 64.4 percent stake in Saankhya, for Rs 283.94 crore, on a fully diluted basis.

  Source: Moneyontrol, Livemint,, Bloomberg, Investing

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