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

Asian stocks were steady Friday as traders weighed earnings reports and a looming payment deadline for China Evergrande Group. Treasuries pared a drop spurred by inflation worries. Equities fluctuated in Japan, fell in South Korea and rose in Australia. The S&P 500 edged up to a record but the mood soured after the cash session when Snap Inc. — owner of the Snapchat app — tumbled on a tempered earnings outlook, hurting other technology shares in late trading. Nasdaq 100 and S&P 500 futures retreated, with the former underperforming. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.10% to 18,265.50 as of 8:00 a.m.

Economic Calender:

  • INR:  Bank Loan & Deposit Growth on 22nd October, 2021.
  • INR:  RBI MPC Meeting Minutes on 22nd October, 2021.
  • USD: Services PMI (Oct) on 22nd October, 2021.
  • USD: Manufacturing PMI (Oct) on 22nd October, 2021.

Earnings: Reliance Industries, HDFC Life Insurance Company, Hindustan Zinc, Gland Pharma, Apollo Pipes, Federal Bank, Yes Bank, Crompton Greaves Consumer Electricals, Dodla Dairy, Huhtamaki India, Inox Leisure, Jubilant Pharmova, Kajaria Ceramics, Kirloskar Ferrous Industries, Mahindra Holidays & Resorts India, Polycab India, ABB Power Products and Systems India, PVR, Steel Strips Wheels, Stylam Industries, Subros, Sundaram-Clayton, Supreme Industries, Tata Consumer Products, Tata Elxsi, TCI Express, Wendt (India)

Results:

JSW Steel Q2FY22 (Consolidated, QoQ): Revenue up 12.46% at Rs 32,503 crore Vs Rs 28,902 crore. Profit up 21.44% at Rs 7,170 crore Vs Rs 5,904 crore. Ebitda up 1.39% at Rs 10,417 crore Vs Rs 10,274 crore. Margin at 32.6% Vs 35.5%

TVS Motor Company Q2FY22 (Consolidated, YoY): Revenue up 23% at Rs 6,483.42 crore Vs Rs 5,254.36 crore Net profit up 35% at Rs 242.17 crore Vs Rs 179.93 crore Ebitda up 17% at Rs 739.79 crore Vs Rs 633.44 crore Margin at 11.4% Vs 12.1%.

ICICI Lombard General Insurance Company Q2FY22 (Consolidated, QoQ): Revenue up 3% at Rs 3,250.3 crore Vs Rs 3,152.1 crore Net profit up 1.30 times at Rs 446.7 crore Vs Rs 194.3 crore Ebitda at Rs 457.1 crore Vs Rs 54.2 crore Margins at 14.1% Vs 1.7% EPS at Rs 9.11 Vs Rs 3.96. Declared an interim dividend of Rs 4 per share.

International Markets:

U.S & Europe

Particulars 21st Oct Chg Chg(%)
Nasdaq 15215.70 94.02 0.62
Dow 35603.08 -6.26 -0.02
FTSE 7190.30 -32.80 -0.45
CAC 6686.17 -19.44 -0.29
DAX 15472.56 -50.36 -0.32
Dow Fut.* 35508.00 28.00 0.08

Asian markets:

Particulars 22nd Oct Chg Chg(%)
SGX Nifty 18265.50 19.00 0.10
Nikkei 28905.74 197.16 0.69
Straits Times 3203.43 14.93 0.47
Hang Seng 26060.75 43.22 0.17
Shanghai 3593.23 -1.55 -0.04

ADR Watch:

Particulars 21st Oct Chg Chg(%)
Dr Reddy 61.55 -1.54 -2.44
HDFC Bank 77.70 0.13 0.17
ICICI Bank 20.09 0.12 0.60
Infosys 23.41 -0.72 -2.98
Tata Motor 33.57 1.21 3.74
Wipro 9.63 -0.12 -1.23

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.86 -0.01
Brent 84.53 -0.09
Gold 1787.50 0.31
Silver 24.277 0.44

FIIs & DII

Particulars 21st Oct 20th Oct
FIIs -2818.90 -1843.09
DIIs 428.45 -1608.73

News Update:

Tata Chemicals: The company is considering selling its soda ash business in the U.S. It’s seeking $1 billion or more for the asset. Tata Chemicals has reached out to private equity firms and some industry groups to gauge interest, according to a Bloomberg report.

Bharti Airtel: The company’s rights issue of up to Rs 20,987.39 crore has been closed for subscription on October 21. The issue was subscribed approximately 1.44 times.

Reliance Industries: The company’s proposal to appoint Aramco Chairman as independent director gets shareholder approval. 98% of votes cast were in favour of appointment of Yasir Othman H. Al Rumayyan as independent director on RIL’s board.

KEC International: Co. has secured new orders of Rs 1,829 crore across its various businesses.

Bank of Maharashtra: Raised Rs 1,000 crore through private placement of 1,000 Basel III Compliant Tier II Bonds of Rs 1 crore each for a period of 10 years.

Tata Motors: S&P Global Ratings has upgraded the credit rating of senior unsecured notes of Tata Motors and Tata Motors Holding Pte to BB-/Stable from B/Watch Positive. The rating agency has also upgraded the credit rating of senior unsecured notes of Jaguar Land Rover Automotive Plc to B+/Stable from B/Watch Positive.

Embassy Office Parks REIT: Completed a lease renewal in Embassy Manyata, Bengaluru with Nokia Solutions and Networks India.

 

Source: Moneycontrol, Livemint,, Bloomberg, Investing
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