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

Most Asian stocks rose Tuesday after S&P 500 posted its 69th record close this year. Equities climbed in Japan but dipped in South Korea, while U.S. futures inched lower. Hong Kong will reopen after a holiday and Australia remains shut. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.50% to 17,192, as of 8:30 a.m. The dollar was little changed. Crude oil held a rally while bitcoin hovered around $50,000.

Economic Calendar:

INR:  Foreign Exchange Reserve on 31st  December, 2021.

INR:  Infrastructure Output YoY on 31st December 2021

USD: Goods Trade Balance on 29th December, 2021.

USD: API Weekly Crude Oil Stock on 29th December, 2021.

Brokerage Radar:

NOMURA ON LOGISTICS SECTOR (Monthly trends): Rail container volumes robust Port volumes largely stable, supported by revival in coal imports Adani Ports Buy, TP Rs 880 CONCOR Buy, TP Rs 856 Gujarat Pipavav buy, TP Rs 165 Aegis Logistics buy, TP Rs 422

INVESTEC ON UTILITIES (2022 outlook): NTPC top pick, TP Rs 200, current vals don’t factor any RE growth optionality Buy on CESC, TP Rs 115, offers a play on distribution privatisation at attractive vals Buy on Power Grid, TP Rs 220, 6% dividend yield will remain steady. Buy on Tata Power, TP Rs 215, 2022 will seek newer growth levers along with execution / earnings delivery Sell on Torrent Power, TP Rs 412, earnings continue to be threatened by high international RLNG prices

MOTILAL OSWAL ON ERIS LIFESCIENCES: Initiate Buy, TP Rs 870 In just 14 yrs (founded in CY07), ERIS has built a pure-play Branded Formulation biz, with revenue of Rs 13b (12M ending Sep’21). Notably, its PAT has nearly doubled to Rs 3.5b during FY16–21. Expect 17% earnings CAGR over FY21–24 driven by a) higher penetration of technically superior drugs in AD therapy b) improve coverage of super-specialists/high-end consulting physicians c) better operating leverage d) higher in-house manufacturing.

International Markets:

U.S & Europe

Particulars 27th Dec Chg Chg(%)
Nasdaq 15,871.26 217.89 1.39
Dow 35302.38 351.82 0.98
FTSE 7,372.10 -1.24 -0.02
CAC 7,140.39 53.81 0.76
DAX 15,835.25 78.94 0.5
Dow Fut.* 36252.30 -49.10 -0.14

Asian markets:

Particulars 28th Dec Chg. Chg(%)
SGX Nifty 17,192.00 86 0.5
Nikkei 28,952.76 276.3 0.96
Straits Times 3,122.18 17.94 0.58
Hang Seng 23,124.39 -99.37 -0.43
Shanghai 3,611.07 -4.9 -0.14

ADR Watch:

Particulars 27th Dec Chg. Chg.(%)
Dr Reddy 63.62 0.83 1.32
HDFC Bank 64.01 0.76 1.2
ICICI Bank 19.49 0.16 0.83
Infosys 25.33 0.6 2.43
Tata Motor 31.78 0.57 1.83
Wipro 9.64 0.19 2.01

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.00 -0.03
Brent 78.38 -0.17
Gold 1811.05  0.07
Silver 23.017 0.12

FIIs & DII

Particulars 27th Dec 24th Dec
FIIs -1038.25 -715.00
DIIs 955.79 -43.24

News Update:

Supriya Lifescience: The company will make its debut on the bourses today. The final issue price is fixed at Rs 274 per share.

RBL Bank: The bank has signed an agreement with Bajaj Finance for the extension of the partnership of co-branded credit cards for a period of 5 years to December 2026.

Paras Defence and Space Technologies: The Company has bagged an order from the Development Establishment and Defence Research and Development Organization (DRDO).  Paras Defence will handle the technology of Border Surveillance Systems as developed by Instruments Research and DRDO.

Gokaldas Exports: ICRA has upgraded the long-term rating for the captioned Line of Credit (LoC) of the company to A- (positive) from BBB (stable). Similarly, the rating agency has upgraded the short-term rating for the captioned LOC to A2+ from A3+.

Shyam Metalics and Energy: The Company announced 20 percent increase in sponge iron manufacturing capacity.

Maharashtra Seamless: The Company has bagged orders worth Rs 150.70 crore from PSU companies for the supply of ERW and seamless pipes

Indian Hotels Company: Tata Group hospitality arm Indian Hotels Company on Monday said that hotel bookings have slowed down for January and February 2022.

GR Infraprojects: The Provisional Completion certificate has been issued by the Independent Engineer for the development of Purvanchal Expressway (Package-VII) from Mojrapur to Bijaura (Ghazipur) in Uttar Pradesh on EPC basis, and has declared the project fit for entry into commercial operation

Siemens: A joint venture between TRIL Urban Transport, a Tata Group company, and Siemens Project Ventures, a subsidiary of Siemens Financial Services, under public-private partnership route (PPP) will develop the metro corridor from Hinjewadi to Shivajinagar, Pune. The joint venture has formed a special purpose company called Pune IT City Metro Rail.

Cosmo Films: The Company should be able to close FY22 with Rs 3,000 crore topline, said Pankaj Poddar, CEO of Cosmo Films.

 

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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