Market-View-Feature-Image

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

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

 

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html