View on market: Stay Cautious, be with quality business:
Asian stocks fell Thursday, after U.S. benchmarks clocked another all-time high amid light volumes in the final days of the year. Japanese equities fell the most in Asia. U.S. equity futures declined after the S&P 500 reached the 70th record close of the year on Wednesday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.12% to 17,235 as of 8:30 a.m The 10-year Treasury yield rose above its 50-day moving average for the first time in about a month. A dollar gauge was steady and crude oil slipped. Elsewhere, Bitcoin is hovering around $46,000.
Economic Calendar:
- INR: Foreign Exchange Reserve on 31st December, 2021.
- INR: Infrastructure Output YoY on 31st December 2021
- USD: Initial Jobless Claims on 30th December, 2021.
- USD: Chicago PMI on 30th December, 2021.
Brokerage Radar:
ANTIQUE ON CAN FIN HOMES: Buy, with Target Price of Rs 770 Better margins & stable asset quality ensures amongst few HFCs to deliver high teen return ratios over few years.
NIRMAL BANG ON WHIRLPOOL: Buy With Target Price of Rs 2700 Market share loss concern is overdone STK Trading at 2 standard deviations below mean Expect continued growth momentum in short-to-medium term with customer-centric product innovation & distribution expansion.
MORGAN STANLEY ON GAS SECTOR : Gas demand was 3% above pre-Covid run rate, led by city gas & industrial demand – +ve for Guj Gas, neutral for GAIL & PLN Key +ve surprise was steady LNG demand from all sectors (ex-power) despite high spot LNG prices.
MACQUARIE ON BANKS: With Oct & Nov witnessing a good festive season & return of several sectors to pre-covid levels, 3QFY22 should see healthy asset quality performance for banks, as collections improve However, impending threat of Omicron can prove difficult for banks in 4Q.
INVESTEC ON BSE: Downgrade to Sell, TP Rs 1720 on cyclically peak earnings & vals Expect a sequential decline in earnings in FY23e STK trades at a significant premium to global peers, most of which are market leaders in their respective markets, making current vals untenable.
International Markets:
U.S & Europe
| Particulars | 29th Dec | Chg | Chg(%) |
| Nasdaq | 15,766.22 | -15.5 | -0.1 |
| Dow | 36488.63 | 90.42 | 0.25 |
| FTSE | 7,420.69 | 48.59 | 0.66 |
| CAC | 7,161.52 | -19.59 | -0.27 |
| DAX | 15,852.25 | -111.45 | -0.7 |
| Dow Fut.* | 36463.4 | 25.2 | -0.07 |
Asian markets:
| Particulars | 30th Dec | Chg. | Chg(%) |
| SGX Nifty | 17,235.00 | 21.5 | 0.12 |
| Nikkei | 28,886.09 | -20.79 | -0.07 |
| Straits Times | 3,130.62 | -7.4 | -0.24 |
| Hang Seng | 23,177.10 | 90.56 | 0.39 |
| Shanghai | 3,617.94 | 20.94 | 0.58 |
ADR Watch:
| Particulars | 29th Dec | Chg. | Chg.(%) |
| Dr Reddy | 64.46 | 0.9 | 1.42 |
| HDFC Bank | 63.88 | -0.26 | -0.41 |
| ICICI Bank | 19.43 | -0.11 | -0.56 |
| Infosys | 25.38 | 0.08 | 0.32 |
| Tata Motor | 31.55 | -0.17 | -0.54 |
| Wipro | 9.68 | 0.05 | 0.52 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.74 | 0.11 |
| Brent | 79.22 | -0.01 |
| Gold | 1805.55 | 0.01 |
| Silver | 22.863 | -0.07 |
FIIs & DII
| Particulars | 29th Dec | 28th Dec |
| FIIs | -975.23 | 207.31 |
| DIIs | 1006.93 | 567.47 |
News Update:
Indian Hotels Company : After acquiring the balance 14.28 percent equity stake in ELEL Hotels and Investments, ELEL has become a wholly-owned subsidiary of Indian Hotels Company.
Financial Services Companies : RBI has released the Financial Stability Report which shows that bad loans are set to rise but even in the worst-case scenario, gross NPAs across the banking system won’t hit double-digits by September next year.
Varun Beverages : The company has incorporated a new entity ‘Varun Beverages RDC SAS’ in the Democratic Republic of Congo to carry on the business of manufacturing, selling, trading and distribution of carbonated and non-carbonated beverages.
Bharat Petroleum Corporation Ltd : Life Insurance Corporation of India acquired over 2 percent stake in the company through open market transactions. With this, LIC’s shareholding in BPCL has increased to 7.03 percent from 5.01 percent earlier.
Puravankara : The company will sell 49 percent stake in arm Keppel Puravankara Development to Keppel Investment for Rs 112 crore.
Kimia Biosciences : The company has been validated for the supply of pharmaceutical raw material (Bilastine) to Bangladesh by the Government of Bangladesh. This certificate of source validation is sound for 3 years from the date of issue.
Deep Industries : The company has received an order from GSPC LNG for the hiring of gas compression services at GSPC LNG Terminal, Mundra, Gujarat, for 5 years. The total estimated value of the contract is approximate Rs 44.40 crore.
KPI Global Infrastructure : The company has received confirmation of the order for executing a solar power project of 10 MWDC capacity from Colourtex Industries, Surat under the ‘captive power producer (CPP)’ segment.
IRB Infrastructure Developers : The company has raised Rs 5,346.6 crore as it has approved allotment of 25,24,50,000 equity shares at a price of Rs 211.79 per share to Cintra INR Investments BV and Bricklayers Investment Pte Ltd.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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