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

Asian stocks opened steady Tuesday as traders evaluated a record-high close for U.S. equities and awaited key central bank decisions amid concerns about elevated inflation. Equities dipped in Japan and Australia, and rose in South Korea. U.S. contracts fluctuated after optimism over corporate earnings saw the S&P 500 hit a new peak and the Dow Jones Industrial Average touch 36,000 for the first tt time. Electric-vehicle giant Tesla Inc. extended a rally. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.20% to 18,011.50, as of 8:10 a.m.

Economic Calender:

  • INR: Trade Balance (Oct) on 2nd November, 2021.
  • INR: Nikkei Service PMI (Oct) on 3rd November, 2021.
  • USD: Fed Interest Rate Decision on 03rd November, 2021.
  • USD: Initial Jobless Claims on 04th November, 2021.

Earnings: Bharti Airtel, Sun Pharmaceutical Industries, Dabur India, Godrej Properties, Hindustan Petroleum Corporation, Jindal Steel & Power, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, Alkyl Amines Chemicals, Bank Of India, Union Bank Of India, Easy Trip Planners, BASF India, Advanced Enzyme Technologies, Trent, Bajaj Healthcare, eClerx Services, Bombay Dyeing & Mfg.Co., Caplin Point Laboratories, Century Plyboards (I), Cholamandalam Financial Holdings, Elantas Beck India, GE Power India, Gillette India, Gulf Oil Lubricants India, Indoco Remedies, Jyothy Labs, LA Opala RG, Laxmi Organic Industries, Minda Corporation, MTAR Technologies, NCL Industries, NOCIL, Prince Pipes and Fittings, Radico Khaitan, R Systems International, Stove Kraft, Thangamayil Jewellery.

Results:

Tata Motors Q2FY22 (Consolidated, QoQ): Revenue down 8% at Rs 61,379 crore Vs Rs 66,406 crore. Net loss at Rs 4,442 crore Vs Rs 3,509.91 crore. Ebitda at Rs 4,117 crore Vs Rs 5,242 crore. Margins at 7% Vs 8%.

The Phoenix Mills Q2FY22 (Consolidated, YoY): Revenue up 73% at Rs 371.30 crore Vs Rs 214.91 crore Net profit of Rs 63.15 crore Vs Net loss of Rs 39.98 crore Ebitda up 1.03 times at Rs 186.25 crore Vs Rs 91.67 crore Margin at 50.2% Vs 42.7%.

Bayer Cropscience Q2FY22 (Consolidated, YoY): Revenue down 1% at Rs 1,365.10 crore Vs Rs 1,381.60 crore Net profit down 31% at Rs 154.10 crore Vs Rs 224.60 crore Ebitda down 25% at Rs 221.80 crore Vs Rs 297.7 crore Margin at 16.2% Vs 21.5%.

Brokerage Radar:

CLSA ON HDFC: Maintain outperform at the price of Rs 2888 for the target price of Rs 3250. Strong growth but best of margin behind us. Expect 15-16% NII/PPoP growth over FY21-24 vs 8% over FY15-20. See its valuation at close to fair levels & hence downgrade.

JEFFERIES ON TATA MOTORS: Maintain buy at the price of Rs 486 for the target price of Rs 625. Q2 EBITDA fell 23% QoQ, pulled down by chip shortages at JLR, but in-line with estimate. JLR believes worst of chip shortages are behind & volumes should gradually improve. It is seeing good demand, has strong order book. Next-gen RR/RR-sport launches should boost JLR volumes. Demand recovery, mkt shr gains & better margin should continue to help India biz.

International Markets:

U.S & Europe

Particulars 1st Nov Chg Chg(%)
Nasdaq 15,595.92 97.53 0.63
Dow 35,913.84 94.28 0.26
FTSE 7,288.62 51.05 0.71
CAC 6,893.29 62.95 0.92
DAX 15,806.29 117.52 0.75
Dow Fut.* 35,741.00 -59.00 -0.16

Asian markets:

Particulars 2nd Nov Chg Chg(%)
SGX Nifty 18,011.50 14.50 0.08
Nikkei 29,580.49 -66.59 -0.22
Straits Times 3,219.66 0.61 0.02
Hang Seng 25,508.83 354.51 1.41
Shanghai 3,547.45 2.97 0.08

ADR Watch:

Particulars 1stNov Chg Chg(%)
Dr Reddy 63.56 2.12 3.45
HDFC Bank 72.85 0.94 1.31
ICICI Bank 21.28 0.13 0.61
Infosys 22.47 0.19 0.85
Tata Motor 33.53 1.95 6.17
Wipro 8.97 0.01 0.11

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.87 -0.01
Brent 85.00 0.34
Gold 1792.20 -0.20
Silver 24.067 -0.02

FIIs & DII

Particulars 1st Nov 29th Oct
FIIs -202.13 -5142.63
DIIs 116.01 4342.51

News Update:

Centrum Capital: Centrum Financial Services and Centrum Microcredit, WOS of the company have effected transfer of their respective businesses to Unity Small Finance Bank, a step-down subsidiary of the company. Unity Bank has commenced operations with effect from November 1. Centrum Financial Services-Bharatpe consortium has set up Unity Bank as part of the rescue process for Punjab & Maharashtra Cooperative Bank.

Adani Transmission: Company has signed share purchase agreement with REC Power Development and Consultancy for acquisition of its entire stake in MP Power Transmission Package-II.

Grasim Industries: The company has commissioned a new line of 300 ton per day capacity of Viscose Staple Fibre and has commenced the commercial production from November 1. With this the total VSF capacity has increased to 7,00,500 ton per annum. Further, it has commissioned first phase of expansion project at Rehla, Jharkhand with a capacity of 170 TPD Caustic Soda Lye.

Yes Bank: The bank has completed the transaction for sale of stake in YES Asset Management (India) and YES Trustee to GPL Finance and Investments.

Motherson Sumi Systems: Board to meet on November 8 to consider a proposal for raising of funds through the issuance of bonds/debentures/non-convertible debt securities.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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