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

Stocks made small advances while currencies were mixed in Asia on Monday amid cautious trading and reduced liquidity with many markets closed for holidays. Benchmark equity indexes for mainland China, Japan and South Korea climbed less than 1%, with a gain of just above that for India. U.S. markets remained closed for holidays. Crude rose 2.7%, while gold futures increased 0.3%. Bitcoin increased 0.2% to trade around $16,900-level. India benchmark indices ended higher after a flat opening on the back of improving global risk appetite amid easing U.S. inflation. Rupee closed higher against the U.S. dollar, tracking weakness in the greenback and rise in global risk appetite. At 6:20 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — fell 0.01% to 18,027.5.

Economic Calendar:

  • USD : Pending Home Sales (MoM) (Nov) on 28th December, 2022
  • USD : Initial Jobless Claims on 29th December, 2022
  • INR : Infrastructure Output (YoY) (Nov) on 30th December, 2022
  • INR : Foreign Debt (USD) (Q3) on 30th December, 2022

Brokerage Radar:

MOSL ON MAHINDRA CIE: Buy, TP Rs 360 ; Strong traction in India biz; EV order wins gaining momentum; Sale of MFE German—yA step in right direction; Management reiterated its focus on profitable growth with an aim to achieve EBITDA margin over 15% in near term (vs 12% in CY21)

MOSL ON CAN FIN: Buy, TP Rs 630; Could Be Near-term Transitory Compression In Margin; It Can Sustain NIM Of 3.3-3.4% In Medium Term; Model Loan Book/PAT CAGR Of 17%/19%, over FY22-FY25; Despite Vacant MD/CEO Position, Biz Momentum Remained Strong

KOTAK INST EQ ON ZOMATO: Buy, TP cut to Rs 85 from Rs 100; Industry participants indicate food delivery GMV growth may remain subdued in near-term owing to weak demand; As a result, trim GMV growth forecasts for Zomato’s food delivery segment

International Markets:

U.S & Europe

Particulars 23rd December Chg. Chg.(%)
Nasdaq 10497.86 21.74 0.21
Dow 33203.93 176.44 0.53
FTSE 7473.01 3.73 0.05
CAC 6504.90 -13.07 -0.20
DAX 13940.93 26.86 0.19
Dow Fut.* 33359.20 182.00 0.55

Asian markets

Particulars 27th December Chg. Chg.(%)
SGX Nifty 18082.50 53.50 0.30
Nikkei 26543.47 137.60 0.52
Straits Times 3270.87 13.17 0.40
Hang Seng 19593.06 -86.16 -0.44
Shanghai 3083.28 17.72 0.58

ADR Watch:

Particulars 23rd December  Chg.       Chg.(%)
Dr. Reddy 52.58 -0.62 -1.17
HDFC Bank 66.84 -1.22 -1.79
ICICI Bank 21.56 -0.14 -0.65
Infosys 17.92 -0.01 -0.06
Tata Motor 22.35 -0.51 -2.23
Wipro 4.53 -0.04 -0.88

Commodities & Currency

Particulars Current Price Chg.(%)
USD/INR 82.65 -0.25
Brent 85.06 0.60
Gold 1812.85 0.48
Silver 24.125 0.86

FIIs & DIIs:

Particulars 26th December 23rd December
FIIs                           -497.65 -706.84
DIIs 1285.74 3398.98

News Update:

NTPC: The company signed an MoU with Tecnimont Pvt. Ltd., Indian subsidiary of Italy-based Maire Tecnimont Group, to jointly evaluate and explore the possibility to develop commercial scale green methanol production.

SpiceJet: Shareholders of the company approved re-appointment of Ajay Singh as a director and adoption of financial results for the financial year ended March 31, 2022.

Time Technoplast: The company has received another order worth Rs 75 crore from Adani Total Gas for supply of CNG cascades made from Type-IV composite cylinder, starting January 2023.

GR Infraprojects: The company received completion certificates for eight-lane access-controlled expressway carriageways from Jodmi village to Bani village of Mandsaur district and Kamliya village to Kandarwasa village of Ratlam district in Madhya Pradesh.

Share India Securities: The board approved raising Rs 1,000 crore via rights of specified securities to eligible shareholders of the company.

HEG: The company incorporated a wholly owned subsidiary TACC Ltd. for manufacturing graphite anode for lithium-ion cells.

 Source: Moneycontrol, Bloomberg Quint, Investing

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