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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