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

Asian equities and U.S. futures declined on Monday amid Russia’s war in Ukraine and the concerns of an economic downturn due to tightening of U.S. monetary policy. Shares fell in Japan and South Korea but rose in Australia. S&P 500 and Nasdaq 100 contracts retreated, hinting at a possible pause in the global rally in equities. Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50 index, rose 0.31% to 17,244.50 points as of 6:40 am. West Texas Intermediate crude slid to around $110 a barrel partly on concern that China’s virus resurgence imperils demand. A dollar gauge advanced, while the yen was around a six-year low against the greenback. In cryptocurrencies, Bitcoin scaled $46,000 as the digital token turned positive for the year.

Economic Calendar:

  • INR: Export Data on 1st April 2022.
  • INR: Forex Reserve on 1st April 2022.
  • USD: Retail Inventory Ex Auto 28th March, 2022.
  • USD: Wholesale Inventory on 28th March, 2022.

Brokerage Radar:

MACQUARIE ON PAINTS SECTOR: Expect decorative peers to take a calibrated approach to price hikes given 15% hike taken in Nov/Dec Higher salience of crude inputs in industrial/ auto coatings implies EPS/ TP cut sharpest for Kansai nerolac paints followed by Berger, PIDI & least for Asian paints.

CLSA ON INOX-PVR: merger 3 shares of PVR for 10 of INOX; merger offers compelling synergy Merger will likely take over 6 months & be subject to approvals Meanwhile PVR & INOX have seen a strong reopening, & in India OTT’s have limited risk to multiplexes Retain BUYs on PVR & INOX.

CLSA ON PHARMA: These products comprise 16-18% of the US$25bn India pharma market by value Within coverage, Abbott India, Cipla, Ipca & Cadila Healthcare have highest exposure to price-controlled products.

JEFFERIES ON BHARTI AIRTEL: Buy, TP Rs 860 Key message from analyst day was that it is well positioned to grow its India-mobile, home broadband & Enterprise biz Co is leveraging its database of 350m+ users to scale up its Airtel Ads, digital marketplace & Airtel Loans biz

International Markets:

U.S & Europe:

Particulars 25th Mar Chg Chg(%)
Nasdaq 14,169.30 -22.54 -0.16
Dow 34861.24 153.30 1.44
FTSE 7,483.35 15.97 0.21
CAC 6,553.68 -2.09 -0.03
DAX 14,305.76 31.97 0.22
Dow Fut.* 34785.2 -74.6 -0.23

Asian markets:

Particulars 28th  Mar Chg. Chg(%)
SGX Nifty 17,216.00 25 0.15
Nikkei 27,987.20 -162.64 -0.58
Straits Times 3,424.83 11.14 0.33
Hang Seng 21,683.67 278.79 1.3
Shanghai 3,201.10 -11.14 -0.35

ADR Watch:

Particulars 25th Mar Chg. Chg.(%)
Dr Reddy 56.25 0.03 0.05
HDFC Bank 60.28 -0.52 -0.86
ICICI Bank 18.19 -0.07 -0.38
Infosys 24.73 0.06 0.24
Tata Motor 28.4 -0.18 -0.63
Wipro 7.9 -0.03 -0.38

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.20 -0.22
Brent 119 0.16
Gold 1962.00 -0.02
Silver 25.977 0.20


Particulars 25th Mar 24th Mar
FIIs -1507.37 -1740.71
DIIs 1373.02 2091.07

News Update:

Adani Enterprises: The company’s two units, Mahanadi Mines and Minerals and MP Natural Resources, have won a coal block each in Odisha and Madhya Pradesh.

GAIL India: To consider buyback of its shares on March 31.

Wipro: Approved interim dividend of Rs 5 per equity share for FY22.

PTC India Financial: Gets income tax refund of Rs 50.97 crore.

Sun Pharma: The company has presented Phase 3 Data for WINLEVI (clascoterone) cream 1% for the Topical Treatment of Acne Vulgaris at the AAD Annual Meeting.

Exide Industries: Exide Industries incorporated a wholly owned subsidiary, Exide Energy Solutions Ltd., to set up a a green field multi-gigawatt Lithium-ion cell manufacturing facility in India with an initial authorised and paid-up equity share capital of Rs 100,000.

Responsive Industries: Mrunal Shetty has resigned as director and chief financial officer. The company has accepted his resignation and relieved him of his responsibilities with effect from March 24, 2022.

Bank of Baroda: The bank has acquired 10 lakh equity shares of Open Network for Digital Commerce.

Indian Hotels: The board announced closure of the QIP launched on March 22. The issue price had been fixed at Rs 202 per share.

PVR: The multiplex operator has approved a merger with Inox Leisure. Shareholders will get three shares of PVR for every ten shares they hold of Inox. PVR now operates the largest multiplex network in India with 871 screens at 181 properties in 73 cities (India and Sri Lanka).

Vedanta: The board of Vedanta approved capital expenditure of $687 million in Cairn Oil & Gas to increase near-term volume. It earmarked a capex of $466 million towards Zinc International’s Gamsberg Phase 2 project. Further, it has set aside $348 million for an expansion project at its subsidiary ESL Steel.

Larsen & Toubro: The Ministry of Defence has signed a contract with Larsen & Toubro for acquisition of two multipurpose vessels for Indian Navy at an overall cost of Rs 887 crore.

Emami: The company has acquired Dermicool category from Reckitt Benckiser Group Plc for Rs 432 crore.

Bharti Airtel: Bharti Airtel to buy 4.7% stake in Indus Towers for Rs 2,388.06 crore.

Source: Moneycontrol, Livemint,, Bloomberg, Investing 

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