View on market: Stay Cautious, be with quality business:
U.S. stocks declined as traders modify their expectations after Federal Reserve indicated that it would continue hiking rates for some time. Treasuries also tumbled. S&P 500 fell as much as 1%, while Nasdaq 100 fell 1.3%. Federal Reserve’s chair Jerome Powell said that the central bank will continue raising interest rates to tame inflation. Elsewhere, oil rose as traders watch out for crude outages that may hit global supply amid clashes in Libya. Gold rose and Bitcoin remained near $20,000. Back home, India’s stock benchmarks nearly halved the day’s losses, after getting off to a weak start, as global markets withered following Powell’s comments. Information Technology, Banking and Metal stocks fell the most while FMCG stocks bucked the trend in a weak market. The local currency depreciated nine paise against the U.S. dollar.
Economic Calendar:
- USD : JOLTs Job Openings (Jul) 30th Aug, 2022
- USD : CB Consumer Confidence (Aug) 30th Aug, 2022
- INR : RBI Monetary and Credit Information Review 31st Aug, 2022
- INR : GDP Quarterly (YoY) (Q1) 31st Aug, 2022
Q1FY23 Result Today: Orissa Minerals Development
Who’s Meeting Whom:
Torrent Power: To meet analysts and investors on August 30.
Tata Consumer Products: To meet analysts, investors on August 30 and September 1.
Shoppers Stop: To meet analysts and investors on August 30.
Patanjali Foods: To meet analysts and investors on August 30.
Brokerage Radar:
UBS ON RIL: BUY, TP Rs. 3,150; Announced 5G rollouts, new-energy transition and O2C expansion; New-Energy finds a long space in speech with detailed plans; Jio to invest Rs.2 trillion in a pan-India SA 5G network
NOMURA ON ADANI PORTS: Buy, TP Rs 1,025; Transforming into an integrated logistics play; Port volumes trending above guidance; group-linked concerns lower on improved cash flows, lower pledges; FY23F EPS lower by 6% but FY24F largely unchanged
MAC ON SBI CARDS: OP, TP Rs 1,260; Has seen a 240bps decline in spend market share in Mar-Jul’22; Decline in mkt. share on total cards o/s is lower at 60bps in same period; Net monthly card adds is currently @ 219k run-rate in Jul-22
International Markets:
U.S & Europe:
| Particulars | 29th August | Chg. | Chg.(%) |
| Nasdaq | 12017.67 | -124.04 | -1.02 |
| Dow | 32098.99 | -184.41 | -0.57 |
| FTSE | 7427.31 | -52.43 | -0.70 |
| CAC | 6222.28 | -51.98 | -0.83 |
| DAX | 12892.99 | -78.48 | -0.61 |
| Dow Fut.* | 32139.20 | 40.20 | 0.13 |
Asian markets:
| Particulars | 30th August | Chg. | Chg.(%) |
| SGX Nifty | 17435.5 | 55.00 | 0.32 |
| Nikkei | 28162.52 | 283.56 | 1.02 |
| Straits Times | 3236.10 | 13.84 | 0.43 |
| Hang Seng | 19672.71 | -350.51 | -1.75 |
| Shanghai | 3223.52 | -17.21 | -0.53 |
ADR Watch:
| Particulars | 29th August | Chg. | Chg.(%) |
| Dr. Reddy | 51.98 | -0.07 | -0.13 |
| HDFC Bank | 60.7 | -0.30 | -0.49 |
| ICICI Bank | 21.47 | 0.04 | 0.19 |
| Infosys | 18.39 | -0.25 | -1.34 |
| Tata Motor | 28.6 | 0.02 | 0.07 |
| Wipro | 5.03 | -0.03 | -0.59 |
Commodities & Currency:
| Particulars | Current Price | Chg.(%) |
| USD/INR | 79.96 | 0.12 |
| Brent | 102.41 | -0.51 |
| Gold | 1748.60 | -0.06 |
| Silver | 18.440 | -0.63 |
FIIs & DIIs:
| Particulars | 29th August | 26th August |
| FIIs | -561.22 | -51.12 |
| DIIs | 144.08 | 453.59 |
News Update:
Adani Enterprises/NDTV: Adani Enterprises said that its arm Vishvapradhan Commercial Pvt. has sought a clarification from the market regulator SEBI on the conversion of NDTV’s warrants required for acquisition of stake.
India Grid Trust: Appointed Harsh Shah as the Chief Executive Officer for a term of five years starting Aug. 30.
Krishna Institute of Medical Sciences: Entered into a definitive agreement to acquire 51% in SPANV Medisearch Lifesciences, Nagpur, that runs a multi-specialty hospital ‘Kingsway Hospitals’, having over 300+ beds. Post-acquisition, the hospital will be renamed ‘KIMS Kingsway Hospitals.’
ICRA: The company has appointed Venkatesh Viswanathan as a Group Chief Financial Officer with effect from Aug. 30.
BLS International Services: Nomura Singapore picks half a percent stake in BLS International Services. Nomura Singapore acquired 11 lakh equity shares in the company via open market transactions at an average price of Rs 230 per share.
Ugro Capital: Raises Rs 50 crore through NCDs. The company said the board of directors has made an allotment of 50,000 non-convertible debentures having face value of Rs 10,000 each through private placement. The tenure of instrument is 24 months from the date of allotment and the coupon rate is 10.35% per annum.
Zomato: CEO Deepinder Goyal said he has no plan of moving away from day-to-day operations at the company and renaming of Zomato to ‘Eternal’ isn’t in the pipeline yet.
Source: Moneyontrol, Livemint,, Bloomberg, Investing
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