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

Asian stocks rose early Tuesday after U.S. shares rebounded amid easing concerns among equity investors about the impact of the omicron coronavirus strain on global reopening. Shares climbed in Japan, Australia and South Korea. U.S. futures pushed higher after the S&P 500 wiped out its November losses and the technology-heavy Nasdaq 100 more than recouped Friday’s rout. The Singapore-traded SGX Nifty shed 0.11% at 17,071 as of 8:05 a.m.

Economic Calendar:

  • INR: Infrastructure Output (YoY) (Oct)  on 30th November, 2021.
  • INR: GDP Quarterly (YoY) (Q2) on 30th November, 2021.
  • USD: CB Consumer Confidence (Nov) on 30thNovember, 2021.
  • USD: ADP Nonfarm Employment Change (Nov) on 1st December, 2021.

Brokerage Radar:

GS ON SBI: Maintain buy at the price of Rs 465 for the target price of Rs 739. Macro Outlook Upbeat; On Track To Deliver RoA Improvements. High Frequency Macro Indicators Suggest Underlying Improvement. Uncertainty Surrounding The New Variant Of The COVID Virus Is Under Watch. Retail To Be Growth Driver With 14-15% Loan Growth Expectation. Recovery Continues With Bank Seeing Sustained Colln Activity In Past 2 Mths. YONO Remains A Top Focus For The Bank.

CS ON BHARTI AIRTEL: Maintain outperform at the price of Rs 739 for the target price of Rs 900. After Prepaid Tariff Hike, Expect Co To Realign Postpaid Tariffs As Well. Raise ARPU Estimates For Q4FY22 By 14% & FY23/FY24 By 9.5%/5.6%. Overall EBITDA Estimate Rises By 7.6% For H2FY22 & 5.9%/3% For FY23/FY24.

CS ON OIL & GAS: Current Trend Of Lower Crude But Still High Spot Gas Price Is Negative. City Gas Companies Will Be Impacted From Lower CNG Conversions (IGL, MGL). Guj Gas Will Be Impacted From Lower Industrial Margin. GAIL’S Profit Reduces On Petrochemical & LPG Due To Lower Crude Price. In City Gas, Guj Gas’ Margin Would Be The Most Impacted. Spot Gas Price May Remain High In The Near-term & Impact Margin. Low Demand For Refining Pdts, Jet Fuel Should Impact RIL & OMCs’ Refining Margins. Telecom Tariff Increase More Than Offset Lower Refining For RIL.

International Markets:

U.S & Europe

Particulars 29thNov Chg Chg(%)
Nasdaq 15,782.83 291.17 1.88
Dow 35,135.94 236.60 0.68
FTSE 7,109.95 65.92 0.94
CAC 6,776.25 36.52 0.54
DAX 15,280.86 23.82 0.16
Dow Fut.* 35,160.00 83.00 24.00

Asian markets:

Particulars 30thNov Chg Chg(%)
SGX Nifty 17,071.00 -19.00 -0.11
Nikkei 28,498.91 214.99 0.76
Straits Times 3,121.62 1.04 0.03
Hang Seng 23,659.41 -192.83 -0.81
Shanghai 3,572.89 10.19 0.29

ADR Watch:

Particulars 29th Nov Chg Chg(%)
Dr Reddy 60.74 -1.60 -2.57
HDFC Bank 68.42 -3.56 -4.95
ICICI Bank 19.30 -1.17 -5.72
Infosys 22.77 -0.82 -3.48
Tata Motor 32.24 -1.21 -3.62
Wipro 8.72 -0.27 -3.00

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.10 0.23
Brent 73.85 0.98
Gold 1791.20 0.34
Silver 23.265 1.81

FIIs & DII

Particulars 29thNov 26th Nov
FIIs -3332.21 -5785.83
DIIs 4611.41 2294.11

News Update:

Union Bank of India: RBI has imposed a penalty of Rs 1 crore on the bank. Penalty imposed due to non-compliance with RBI’s directions on fraud classification and sale of stressed assets. The bank failed to classify an account as a red flag account, did not disclose ageing of security receipts.

NTPC: The wholly-owned subsidiary of the company, NTPC Renewable Energy, has signed power purchase agreements for 325 MW solar projects.

Tatva Chintan Pharma Chem: As a part of future need, the company has acquired an industrial land admeasuring 50,399.16 square metre at Dahej-III GIDC Estate, Gujarat.

Mastek: Mastek U.K. has been awarded a healthcare contract of £45 million by National Health Services Digital.

Axis Bank: Fitch affirmed the long-term issuer default rating of Axis Bank at ‘BB+’ with a ‘negative’ outlook.

ICICI Bank: Fitch affirmed rating on ICICI Bank at ‘BB+’ and outlook ‘negative’.

Ratnamani Metals & Tubes: The company has received new domestic orders aggregating to Rs 297.87 crore from the oil and gas sector. These orders are to be executed between February 2022 and January 2023.

Asian Paints: The company will invest ₹960 crore to expand the manufacturing capacity of its facility situated at Ankleshwar in Gujarat. The company has signed a memorandum of understanding with the Government of Gujarat commencing the proposed expansion of manufacturing capacity of paint from 1.3 lakh KL to 2.5 lakh KL and resins and emulsions from 32,000 MT to 85,000 MT, Asian Paints. The expansion is to be completed in the next 2-3 years at a total investment of ₹960 crore approximately on plant and machinery.

Kotak Mahindra: Private lender Kotak Mahindra Bank said that LIC has received approval from the RBI to increase its stake in the Bank up to 9.99%. While announcing reformed rules on the structure of private sector banks, the RBI had on Friday said that non-promoter share holdings would continue to be capped at 10% for individuals and non-financial institutions.

Dr Reddy’s: Company is in talks with partners to export domestically made doses of Russia’s COVID-19 vaccine, Sputnik, after New Delhi recently approved shipments of other shots, the firm said on Monday. As the main Indian distributor of Sputnik, sold only on the private market, Dr. Reddy’s has struggled to compete with vaccines that the government distributes free.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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