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

U.S. equity futures, crude oil and Treasury yields climbed Monday as investors tried to calibrate economic risks from the omicron coronavirus strain, bringing some calm back to markets S&P 500, Nasdaq 100 and European contracts jumped, WTI oil rallied back above $70 a barrel and the 10-year U.S. Treasury yield rose past 1.50%. Asian stocks fell but the moves were modest compared with Friday’s global equity selloff. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.81% at 17,182.00 as of 8:05 a.m.

Economic Calendar:

  • INR: Infrastructure Output (YoY) (Oct)  on 30th November, 2021.
  • INR: GDP Quarterly (YoY) (Q2) on 30th November, 2021.
  • USD: Pending Home Sales (MoM) (Oct) on 29thNovember, 2021.
  • USD: CB Consumer Confidence (Nov) on 30thNovember, 2021.

Brokerage Radar:

UBS ON ASHOK LEYLAND: Maintain buy at the price of Rs 126 for the target price of Rs 155. Stock Could React Negatively CEO’s Departure. Constructive On Strong Talent Pool, Strong Positioning In Domestic CV Ind. Positive On Cyclical Demand Recovery & High Operating & Financial Leverage. Recent Correction Further Improves The Risk-reward.

MACQUARIE ON PAYTM: Maintain underperform at the price of Rs 1783 for the target price of Rs 1200. Net Payments Revenue Down 22% QOQ. HIFY22 Losses Already At 70% Of their FY22 Estimate. Op Revenue Grew 64% YoY Vs 107% YoY GMV Growth. Revenue Will Lag GMV Going Forward & Take Rates Will Come Down.

MS ON BANKS: RBI Updates Ownership And Corporate Structure Regulations For Private Banks RBI Rules Benefit Indusind & Kotak Bank Key Positive Is A Higher Promoter Stake Cap At 26% Vs 15% Currently. On Harmonization of Corp Structures to NOFHC, RBI Was Silent On Legacy Bank.

International Markets:

U.S & Europe

Particulars 26thNov Chg Chg(%)
Nasdaq 15,491.66 -353.57 -2.23
Dow 34,899.34 -905.04 -2.53
FTSE 7,044.03 -266.34 -3.64
CAC 6,739.73 -336.14 -4.75
DAX 15,257.04 -660.94 -4.15
Dow Fut.* 35122.00 267.00 0.77

Asian markets:

Particulars 29thNov Chg Chg(%)
SGX Nifty 17,182.00 138.50 0.81
Nikkei 28,746.49 -5.13 -0.02
Straits Times 3,139.48 -26.79 -0.85
Hang Seng 23,980.00 -100.52 -0.42
Shanghai 3,556.58 -7.51 -0.21

ADR Watch:

Particulars 26th Nov Chg Chg(%)
Dr Reddy 60.74 -1.60 -2.57
HDFC Bank 68.42 -3.56 -4.95
ICICI Bank 19.30 -1.17 -5.72
Infosys 22.77 -0.82 -3.48
Tata Motor 32.24 -1.21 -3.62
Wipro 8.72 -0.27 -3.00

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.87 0.36
Brent 74.72   4.37
Gold 1797.75 0.54
Silver 23.655 2.25

FIIs & DII

Particulars 26thNov 25th Nov
FIIs -5785.83 -2300.65
DIIs 2294.11 1367.80

News Update:

Reliance Industries: Reliance Jio to increase tariffs. Price of the entry-level JioPhone plan will increase by 21.3% to Rs 91. Prices of unlimited voice bundles and data add-ons will increase by 20%. New tariffs will be effective from December 1, 2021.

SBI: RBI has imposed Rs 1 crore penalty on the bank. Penalty was levied after RBI’s supervisory inspection of SBI’s financial position as of March 2018 and March 2019. On supervisory inspection it was revealed that SBI, as pledgee, held stake higher than 30% in borrower companies. This is in contravention of Section 19 of the Banking Regulation Act.

Ashok Leyland: Vipin Sondhi will step down as Managing Director and Chief Executive Officer of the company with effect from December 31, 2021. Dheeraj Hinduja, chairman will take over as executive chairman with immediate effect.

Tata Chemicals: The company is in talks to buy the battery materials business of London-based Johnson Matthey in a deal that can provide an edge to the Tata group in the fast-growing electric vehicle market, two people with direct knowledge of the plan said. The Tata group company is one of the frontrunners in the race to buy this key business from Johnson Matthey, the people said, requesting anonymity. A deal could be struck at a valuation of $500-700 million, they added.

IndusInd Bank: The billionaire Hindujas brothers are looking to increase their stake in IndusInd Bank Ltd., the lender they founded, now that the Reserve Bank of India has eased ownership rules for the country’s private sector banks. Ashok Hinduja, who chairs founding firm IIHL, said in a statement Saturday he’s waiting to act until details of the new rules are spelled out by the RBI, which is also the nation’s banking regulator.

Mahindra & Mahindra: Mumbai-based automotive-to-technology major Mahindra & Mahindra has entered the World Index list of companies in the Dow Jones Sustainability Index (DJSI) 2021.

Paytm: The company posted a loss of Rs 473 crore, up 8.5 percent from Rs 382 crore compared to the corresponding quarter last year. Its revenue from operations for the second quarter jumped 63.6 percent to Rs 1,086.4 crore on a Year-On-Year basis.

Welspun Corp: The company has acquired Mahatva Plastic Products and Building Materials, a newly incorporated company with objects of Polymer products business, from an unrelated party with an intention to make it a Special Purpose Vehicle for organic/inorganic growth.

Salasar Techno Engineering: The company has secured orders worth Rs 170 crore from RITES.

GHCL: The company has signed a MoU with the Government of Tamil Nadu for investing Rs 500 crore in the state.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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