View on market: Stay Cautious, be with quality business:
Asian stocks and U.S. futures fell Friday after disappointing earnings from Amazon.com Inc. and Apple Inc., amid concerns over inflation. Shares were lower in Japan, Australia and South Korea. Nasdaq 100 contracts underperformed S&P 500 counterparts. Apple and Amazon fell in extended trading, signaling a more than $200 billion drop in combined market value. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 17,915, as of 8:00 a.m.
Economic Calender:
- INR: Federal Fiscal Deficit (Sept) on 29thOctober, 2021.
- INR: Infrastructure Output (YoY) (Sept) on 29thOctober, 2021.
- USD: ISM Manufacturing PMI (Oct) on 01st November, 2021.
- USD: Fed Interest Rate Decision on 03rd November, 2021.
Earnings: BPCL, UPL, Vedanta, Dr.Reddy’s Laboratories, Shree Cement, JSW Energy, Adani Transmission, Adani Power, Gail (India), Ajanta Pharma, Apollo Tyres, Cadila Healthcare, Emami, Bandhan Bank, Castrol India, Steel Authority Of India, Embassy Office Parks REIT, Bharat Electronics, Cholamandalam Investment and Finance Company, Dixon Technologies (India), Equitas Small Finance Bank, Eris Lifesciences, Glaxosmithkline Pharmaceuticals, Nazara Technologies, Escorts, Exide Industries, Indigo Paints, Voltas, Chemplast Sanmar, Aptus Value Housing Finance India, Atul, Blue Dart Express, Barbeque-Nation Hospitality, Care Ratings, Confidence Petroleum India, Dalmia Bharat Sugar and Industries, Elecon Engineering Co, GNA Axles, JK Lakshmi Cement, Kirloskar Brothers, Oberoi Realty, Sheela Foam, Shilpa Medicare, Solar Industries India, Shriram Transport Finance Co, Sumitomo Chemical India, Tv Today Network, Varun Beverages, VIP Industries
Results:
Tata Power Q2FY22 (Consolidated, QoQ): Revenue down 3.2% at Rs 9,810.2 crore Vs Rs 10,132.4 crore. Net profit up 8.6% at Rs 505.6 crore Vs Rs 465.7 crore. Ebitda down 29.1% at Rs 1,663.64 crore Vs Rs 2,345.18 crore. Margins at 17% Vs 23.1% Renewable portfolio grew by 10% in Q2.
DLF Q2FY22 (Consolidated, YoY): Revenue down 8% at Rs 1,480.90 crore Vs Rs 1,609.82 crore Net profit up 66% at Rs 378.12 crore Vs Rs 227.75 crore Ebitda down 1% at Rs 457.96 crore Vs Rs 463.12 crore Margin at 30.9% Vs 28.8%
AU Small Finance Bank Q2FY22: NII up 34% at Rs 753.13 crore Vs Rs 560.64 crore (YoY) Net profit down 13% at Rs 278.51 crore Vs Rs 321.87 crore (YoY) GNPA at 3.16% Vs 4.31% (QoQ) NNPA at 1.65% Vs 2.26% (QoQ)
Brokerage Radar:
MORGAN STANLEY ON LUPIN: Maintain overweight at the price of Rs 881 for the target price of Rs 1335. Margin is bottoming, expect normalisation FY23 onwards driven by lucrative us launches. Complex inhalers, injectables & biosimilar pipeline shaping up well.
CREDIT SUISSE ON CUMMINS: Maintain outperform at the price of Rs 895 for the target price of Rs 1150. Strong near-term earnings traction. Potential de-rating as alternate technologies become mainstream. Increase EPS to 30/35/39 from 27/33/37 for FY22/23/24 based on near-term traction. Retain outperform on attractive valuations.
International Markets:
U.S & Europe
| Particulars | 28th Oct | Chg | Chg(%) |
| Nasdaq | 15,448.12 | 212.28 | 1.39 |
| Dow | 35,730.48 | 239.79 | 0.68 |
| FTSE | 7,249.47 | -3.80 | -0.05 |
| CAC | 6,804.22 | 50.70 | 0.75 |
| DAX | 15,696.33 | -9.48 | -0.06 |
| Dow Fut.* | 35,584.00 | -29.00 | -0.08 |
Asian markets:
| Particulars | 29th Oct | Chg | Chg(%) |
| SGX Nifty | 17,915.00 | 34.50 | 0.19 |
| Nikkei | 28,788.58 | -31.51 | -0.11 |
| Straits Times | 3,220.45 | 16.63 | 0.52 |
| Hang Seng | 25,396.91 | -158.82 | -0.62 |
| Shanghai | 3,510.69 | -7.73 | -0.22 |
ADR Watch:
| Particulars | 28th Oct | Chg | Chg(%) |
| Dr Reddy | 61.07 | -0.24 | -0.39 |
| HDFC Bank | 74.31 | -0.80 | -1.07 |
| ICICI Bank | 21.29 | -0.43 | -1.98 |
| Infosys | 22.56 | 0.01 | 0.04 |
| Tata Motor | 32.04 | -0.32 | -0.99 |
| Wipro | 9.12 | -0.05 | -0.55 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.92 | -0.14 |
| Brent | 83.90 | 0.27 |
| Gold | 1798.75 | -0.21 |
| Silver | 24.070 | -0.21 |
FIIs & DII
| Particulars | 28th Oct | 27th Oct |
| FIIs | -3819.51 | -1913.36 |
| DIIs | 836.60 | 472.48 |
News Update:
IRCTC: To share proceeds of service charge on e-ticketing with lndian Railways. The revenue earned from convenience fee collected by IRCTC to be shared in the ratio of 50:50 w.e.f November 1, 2021, Ministry of Railways said
NTPC: The company’s installed capacity stood at 66,900 MW in Q2 FY22 Vs 62,910 MW in the same quarter last year. Captive mines coal output up 2.62 times year-on-year at 2.79 MMT Vs O.77 MMT. Plant availability factor-coal at 85.36% Vs 91.83%.
Bharti Airtel: In its October 28 order regarding refund of excess GST paid by Bharti Airtel, the Supreme Court, has maintained that the company has the freedom to avail the amount of Rs 923 crore as Input Tax Credit in the subsequent returns, which the company had duly done, it said in an exchange filing.
Future Consumer: Approved entering into a joint venture arrangement between Griffith Foods Worldwide INC and Sublime Foods, a subsidiary of the company.
Wipro: The company in partnership with Oracle launched Wipro Tollway Transportation and Billing solution to enhance commuters’ experience while improving profitability for tollway authorities.
Infosys: The company and bp, a global integrated energy company have agreed to develop and pilot an energy as a service solution, which will aim to help businesses improve the energy efficiency of infrastructure and help meet their decarbonisation goals.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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