View on market: Stay Cautious, be with quality business:
Asian stocks fell Wednesday as the war in Ukraine and sanctions on Russia spiked crude oil prices to nearly $106 a barrel, hurting the outlook for economic growth, aiding demand for sovereign bonds, and threatening flows of energy, crops and metals. Japan led the losses, Australia and South Korea were steadier. U.S. futures gained after both the S&P 500 and Nasdaq 100 declined on Tuesday. Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 1.13% to 16,520 as of 6:25 am. Demand for havens saw Australian and New Zealand debt join a global fixed-income rally. Treasuries held most of that push higher with the 10-year yield at about 1.75%. Gold and the dollar retained their advances. Russia said it would press forward with its invasion of Ukraine as the war entered a more brutal stage. At the same time, the moves to isolate and pressure Russia’s financial system and economy in retribution are picking up steam.
Economic Calendar:
- INR: Manufacturing PMI on 2nd March 2022.
- INR: Service PMI on 4th March 2022.
- USD: OPEC Meeting on 2nd March, 2022.
- USD: Non Payroll on 4th March, 2022.
Brokerage Radar:
JEFFERIES ON VARUN BEVERAGES: Buy, TP Rs 1215 Entered into an agreement to manufacture Kurkure Puffcorn for PepsiCo India, 1st extension into a non-beverage category This move could be a precursor to something big overtime as co enjoys a strong relationship with PepsiCo.
CLSA ON INSURANCE: Risk-reward Getting Very Favourable Prefer SBI Life Followed By ICICI Pru/Max Life & HDFC Life Stocks Factoring In 6-7% Long-term APE/VNB Growth, Which Is Quiet Low Constraints Like LIC IPO & Protection Sluggishness Are Only Near-term Headwinds.
GOLDMAN SACHS ON BIOCON: Buy, TP Rs 430 Co believes by FY24E, combined rev of all entities would be c. $1.8bn: VTRS portfolio ($1.1bn), BBL portfolio ($350m), SILS ($350m) with combined EBITDA of $500m or c. 28% margin This would help reduce leverage from >4x to c. 3x over next 2 years
International Markets:
U.S & Europe:
| Particulars | 01st Mar | Chg | Chg(%) |
| Nasdaq | 13,532.46 | -218.94 | -1.59 |
| Dow | 33294.95 | 597.9 | -1.76 |
| FTSE | 7,330.20 | -128.05 | -1.72 |
| CAC | 6,396.49 | -262.34 | -3.94 |
| DAX | 13,904.85 | -556.17 | -3.85 |
| Dow Fut.* | 33426.2 | 132.6 | 0.40 |
Asian markets:
| Particulars | 02nd Mar | Chg. | Chg(%) |
| SGX Nifty | 16,494.50 | -213.5 | -1.28 |
| Nikkei | 26,341.95 | -502.77 | -1.87 |
| Straits Times | 3,260.10 | -18.53 | -0.57 |
| Hang Seng | 22,551.53 | -210.18 | -0.92 |
| Shanghai | 3,477.93 | -10.9 | -0.31 |
ADR Watch:
| Particulars | 01st Mar | Chg. | Chg.(%) |
| Dr Reddy | 52.66 | -0.76 | -1.42 |
| HDFC Bank | 60.37 | -1.8 | -2.9 |
| ICICI Bank | 18.5 | -0.97 | -4.98 |
| Infosys | 22.16 | -0.3 | -1.34 |
| Tata Motor | 28.8 | -1.49 | -4.92 |
| Wipro | 7.11 | -0.18 | -2.47 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 75.34 | 0.07 |
| Brent | 110.70 | 3.21 |
| Gold | 1940.50 | -0.17 |
| Silver | 25.310 | -0.91 |
FIIs & DII:
| Particulars | 28th Feb | 25th Feb |
| FIIs | -3948.47 | -4470.70 |
| DIIs | 4142.82 | 4318.24 |
News Update:
Eicher Motors: Sales up 7.3% YoY to 5,856 units in February.
Escorts: Tractor sales down 45.6% YoY to 6,114 units in February.
Mahindra Logistics: To buy up to 60% of Whizzard for Rs 71.73 crore.
Maruti Suzuki: February sales at 164,056 units vs 164,469 a year ago.
Tata Motors: Passenger vehicle sales rises 47% YoY to 39,981 units, commercial vehicle sales up 11% YoY to 37,552 units in February.
Future Enterprises: Says no immediate impact on deal with Generali after court order on Future Generali stake sale restraint.
Brightcom: SEBI had appointed a forensic auditor in September 2021 over impairment of assets in FY2019-20. The company said the impairment decision was taken due to the Global Data Protection Regulation in Europe and its affects worldwide. The company reported the exchanges on Feb. 28. Siemens: Sunsole Renewables allotted 26% of its paid-up equity share capital to the company for a consideration of Rs 27 lakh.
Page Industries: Managing Director Sunder Genomal has tendered his resignation.
Eveready Industries: A group of five companies have announced an open offer for acquiring 18,898,688 equity shares (26% stake) at Rs 320 per share. The five companies are Puran Associates, VIC Enterprises, MB Finmart, Gyan Enterprises and Chowdry Associates.
Sterlite Technologies: The company has announced a collaboration with Analog Devices to develop 5G Open RAN radio units.
IndiaMart Intermesh: The company — via its wholly owned subsidiary Tradezeal Online — has entered into an agreement to invest Rs 13.75 crore in Adansa Solutions for 26.01% stake.
EaseMyTrip: To consider allotment of bonus shares on March 3.
Tanla Platforms: Announced an exclusive partnership with Truecaller. Truecaller Business Messaging will be exclusively powered by Tanla’s Wisely CPaaS platform.
Future Market Networks: Says NCLT allows to hold holders’ meeting. Tata Steel: The company’s subsidiary Tata Steel Advanced Materials will acquire 90% stake in Ceramat Pvt for consideration of Rs 90,000.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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