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

Stocks in Asia are off to a soft start on Tuesday amid a rise in crude oil prices and US Treasury yields. Equities rose in Japan, South Korea and Australia after US futures were volatile following losses for S&P 500 and Nasdaq 100. As of 7:40 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–fell 0.35% to 15,778. The dollar was little changed while crude rose toward $110 a barrel. This rise in crude prices comes even as Libya and Ecuador flagged potential output cuts on political unrest.

Economic Calendar:

  • INR: M3 Money Supply29th June
  • INR: Fiscal Deficit Data 30th June 2022.
  • USD: API Weekly Crude Oil Supply 29th June, 2022.
  • USD: Mortgage Market Index 29th June, 2022.

Brokerage Radar:

UBS ON M&M: Buy, TP Rs 1250 With Scorpio-N,ride quality, handling, design & features have been significantly enhanced Given expected success of Scorpio-N, strong order backlogs for XUV700, Thar & ramp in production, see upside risk to FY24E vol assumption.

KOTAK INST ON UJJIVAN SMALL FINANCE BANK: Upgrade to buy, TP Rs 20 Discussions with management indicate growth appetite is back, especially in microfinance bk along with recovery in credit demand from select segments Expect stability in top management team going forward

MORGAN STANLEY ON BAJAJ AUTO:EW, TP Rs 4182 Assuming buy-back happens at maximum price, co will buyback 5.4 m sh No of shares could, however, be higher if buyback price is lower than maximum limit Out of total outlay, co will utilize at least 50% of amount (Rs12.5 bn).

UBS ON BAJAJ AUTO: Neutral, TP Rs 3800 Open market buy-back up to Rs25bn Buy-back size- c13% of surplus cash & c9% of share capital + reserves CMP, reduction in total paid-up share capital will be 2.2%, assuming maximum buy-back of Rs25bn

MORGAN STANLEY ON M&M: OW, TP Rs 1198 Launch – Scorpio-N Multiple new launches in SUV segment underscore SUV focus of OEMs & also point towards easing supply chain issues Believe PVs will continue to lead recovery in autos

International Markets:

U.S & Europe:

Particulars 27th  June Chg Chg(%)
Nasdaq 11,524.55 -83.07 -0.72
Dow 31438.26 -62.42  -0.20
FTSE 7,258.32 49.51 0.69
CAC 6,047.31 -26.04 -0.43
DAX 13,186.07 67.94 0.52
Dow Fut.*  31438.26  -26.3 -0.06

Asian markets:

Particulars 28th June Chg. Chg(%)
SGX Nifty 15,774.50 -59.5 -0.38
Nikkei 26,830.69 -40.58 -0.15
Straits Times 3,130.76 -6.78 -0.22
Hang Seng 22,003.14 -226.38 -1.02
Shanghai 3,370.72 -8.47 -0.25

ADR Watch:

Particulars 27th  June Chg. Chg.(%)
Dr Reddy 55.84 0.57 1.03
HDFC Bank 56.84 -0.97 -1.68
ICICI Bank 18.11 -0.26 -1.42
Infosys 18.76 0.09 0.48
Tata Motor 26.38 -0.29 -1.09
Wipro 5.45 -0.04 -0.73

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 78.34 -0.01
Brent 112.29  1.18
Gold 1825.85 0.05
Silver 21.093 -0.44

FIIs & DII:

Particulars 27th  June 24th June
FIIs -1278.42 -2353.77
DIIs 1184.47 2213.44

News Update:

Aurobindo Pharma: SEBI has warned the drugmaker for not meeting its disclosure requirements by not providing full details related to observations by the the US Food and Drug Administration.

Cipla: The company will invest Rs 25.9 crore in associate firm GoApptiv increasing its stake to 22.02%. The investment will enable wider reach of the Cipla’s key brands in Tier-3+ towns through GoApptiv’s solutions.

Star Health/IDFC First: The companies have entered into a strategic partnership where Star Health will offer its health insurance products to the bank’s customers using bank’s digital platform and distribution network.

Bank of Baroda: The state-run lender has announced plans to raise long term bonds worth Rs 5,000 crore in FY23.

Mahindra & Mahindra: The company has unveiled new car model name Scorpio-N; prices Scorpio-N SUV starting at Rs 11.9 lakh.

Manappuram Finance: The company will consider $100 million bond issuance on Thursday.

Hindustan Aeronautics: The company’s board will consider the recommendation of final dividend.

Route Mobile: The company will consider proposal of shares buyback today.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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