Market-View-Feature-Image

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

Asian stocks were mixed and Treasuries trimmed losses Thursday as investors evaluated Federal Reserve Chair Jerome Powell’s signal of a March interest-rate liftoff and the possibility of hikes at each policy meeting. Equities fluctuated in Japan and slipped in Australia and South Korea, where Samsung Electronics Co. missed profit estimates. U.S. contracts edged higher after the fallout from the  Fed wiped out a Wall Street rally on Wednesday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 1.86% to 16900.00 as of 8:15 a.m. Elsewhere, Brent oil surged above $90 for the first time in seven years before paring the advance. Gold held a drop. Bitcoin traded around $37,000.

Economic Calendar:

  • INR: Bank Loan Growth on 28st January, 2022.
  • INR: Bank Deposit Growth on 28st January 2022.
  • USD: Core Price Index on 28th January, 2022.
  • USD: Manufacturimg PMI on 1st Febuary, 2022.

Earnings: Arvind,HSIL,BHEL,LIC Housing Finance,KEI,Canara Bank,RBL Bank,Birlasoft, IIFL Finance, Dalmia Bharat Ltd

Results:

Cipla: Q3FY22 (Consolidated, YoY) Revenue up 6% at Rs 5,478.86 crore Vs Rs 5,168.69 crore Net profit down 3% at Rs 728.60 crore Vs Rs 748.15 crore Ebitda flat at Rs 1,230.97 crore Vs Rs 1,230.88 crore Margins at 22.5% Vs 23.8% To transfer India-based U.S. business undertaking to Cipla BioTec for Rs 1,400 crore and consumer business undertaking to Cipla Health for Rs 80 crore as a going concern on a slump sale basis.

United Spirits: Q3FY22 (Consolidated, YoY) Revenue up 6% at Rs 8,917.20 crore Vs Rs 8,410.30 crore Net profit up 4% at Rs 299.60 crore Vs Rs 287 crore Ebitda up 13% at Rs 518.70 crore Vs Rs 457.60 crore Margins at 5.8% Vs 5.4%.

Macrotech Developers : Q3FY22 (Consolidated, YoY) Revenue up 36% at Rs 2,059.44 crore Vs Rs 1,514.10 crore Net profit up 26% at Rs 285.59 crore Vs Rs 227.25 crore Ebitda up 3% at Rs 485.78 crore Vs Rs 472.68 Margins at 23.6% Vs 31.2%.

Torrent Pharmaceuticals: Q3FY22 (Consolidated, YoY) Revenue up 6% at Rs 2,108 crore Vs Rs 1,995 crore Net profit down 16% at Rs 249 crore Vs Rs 297 crore Ebitda down 11% at Rs 538 crore Vs Rs 607 crore Margins at 25.5% Vs 30.4%.

Brokerage Radar:

MACQUARIE ON PIDILITE: Underperformer, TP Rs 2200 Cut FY22 EPS by 6% to factor in gross margin-led 3Q miss 4Q challenging given input cost pressures & 3rd-wave linked disruptions PIDI hopeful of these headwinds moderating by end-4Q/ start-1Q.

JEFFERIES ON SRF: Underperformer, Target Price Rs 1890 3Q Ebitda 14% ahead of JEFe on 1) multi-year high realizations in ref-gas & commodity fluorochem 2) better than expected margin in packaging films Performance could be difficult to sustain with packaging film & refgas margins weaker QTD 4QFY22.

CREDIT SUISSE ON MARUTI: Outperformer, TP raised to Rs 10389(on roll fwd) Raise FY23/24 EPS by 3-4% Up ahead—supply pick-up, return of replacement demand, market share gains, & margin uplift Stay O-P on healthy demand, strong new model cycle, margin normalisation, &benign valuation.

CITI ON CIPLA: Buy, TP Rs 1120 3Q EBITDA/PAT 6%/7% ahead, maintained strong momentum in key markets (India, SA & US) EBITDA margins at 22.5% (+30bp QoQ) Expect earnings growth to remain strong (c18% CAGR over FY22-24E), even on a high base of FY22E.

International Markets:

U.S & Europe

Particulars 26th Jan Chg Chg(%)
Nasdaq 13,542.12 2.82 0.02
Dow 34168.09 -129.64 -0.38
FTSE 7,469.78 98.32 1.33
CAC 6,981.96 144 2.11
DAX 15,459.39 335.52 2.22
Dow Fut.* 33826.9 -341.2 -1.00

Asian markets:

Particulars 27th Jan Chg. Chg(%)
SGX Nifty 16,900.00 -321 -1.86
Nikkei 26,321.33 -690 -2.55
Straits Times 3,253.89 -17.68 -0.54
Hang Seng 23,744.80 -545.1 -2.24
Shanghai 3,412.95 -42.72 -1.24

ADR Watch:

Particulars 27th Jan Chg. Chg.(%)
Dr Reddy 58.09 -1.01 -1.71
HDFC Bank 65.99 -1.35 -2
ICICI Bank 20.87 -0.07 -0.33
Infosys 22.39 -0.09 -0.4
Tata Motor 31.75 -0.15 -0.47
Wipro 7.31 -0.09 -1.22

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.78 0.29
Brent 88.21 -0.36
Gold 1815.55 -0.77
Silver 23.323 -2.03

FIIs & DII

Particulars 25th Jan 24th Jan
FIIs -7094.48 -3751.58
DIIs 4534.53   74.88  

News Update:

GE T&D India: The company has agreed to sell Global Engineering Operations Division (India for Global) to GE India Industrial (a related party) together with the assets and manpower along with its corresponding liabilities by way of a slump sale on an “as is where is” basis.

Phoenix Mills: The company’s subsidiaries Vamona Developers and Offbeat Developers have entered into Share Subscription and Shareholders Agreement with Renew Surya Kiran and Renew Green Energy Solutions for subscribing 19.97% and 11.23% equity shares respectively in Renew Surya Kiran. The company has also d has collaborated with ReNew Power to generate 5 MW of solar power.

ICRA: The company appointed Amit Kumar Gupta as the interim Chief Financial Officer after Vipul Agarwal’s resignation.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

 

 

 

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html