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

Asian stocks rose Friday led by a rally in a Hong Kong gauge of technology firms following a surge in U.S.-listed Chinese equities. U.S. futures fell after Wall Street dipped from a record in thin year-end trading. The Hang Seng Tech Index rose about 4% and China climbed. Hong Kong’s stock market shuts early and Japan is among a number closed ahead of the New Year. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 17,298.50 as of 7:50 a.m The dollar fluctuated and crude oil declined. Bitcoin held its December losses.

Economic Calendar:

  • INR: Foreign Exchange Reserve on 31stDecember, 2021.
  • INR: Infrastructure Output YoY on 31st December 2021
  • USD: ISM Manufacturing PMI (Dec) on 3rdJanuary, 2022.
  • USD: U.S. Baker Hughes Oil Rig Count on 31st December, 2021.

Brokerage Radar:

MOTILAL OSWAL  ON INDIGO PAINTS: Initiate Buy, Target Price Rs 2270 Only successful new player in last 20 yrs Expect to deliver sales/EBITDA/PAT CAGR of 28%/35%/41% over FY21–24E Recent sharp price hikes would further support sales growth & margin recovery in 2HFY22/FY23E

MORGAN STANLEY ON BAJAJ AUTO: Overweight, with Target Price Rs 4742 To set up new EV plant with 0.5mn p.a. capacity Will deploy ‘cutting edge robotic & automated’ manuf systems Vehicles from new plant likely to be rolled out by June 22 Premium 2W, strong exports, improving 3W vols & EV initiatives keep us OW

ANTIQUE ON CENTURY TEXTILES: Initiate buy, Target Price Rs 1175 Has “risen like a phoenix” over years as a result of changes in its business model Co demerged its cement business to Ultratech Cement & transferred its technical textiles biz to Grasim. In its new avatar co is focussed to grow its real estate biz, while other two biz (Paper & Textiles) are expected to provide steady cash flows.

International Markets:

U.S & Europe

Particulars 30th Dec Chg Chg(%)
Nasdaq 15,741.56 -24.66 -0.16
Dow 36398.08 90.55 0.25
FTSE 7,403.01 -17.68 -0.24
CAC 7,173.23 11.71 0.16
DAX 15,884.86 32.61 0.21
Dow Fut.* 36338.2 -59.9 -0.16

Asian markets:

Particulars 31st Dec Chg. Chg(%)
SGX Nifty 17,286.50 -8.5 -0.05
Nikkei 28,791.71 -115.17 -0.4
Straits Times 3,138.06 11.42 0.37
Hang Seng 23,525.65 413.64 1.79
Shanghai 3,635.77 16.58 0.46

ADR Watch:

Particulars 30th  Dec Chg. Chg.(%)
Dr Reddy 65.42 0.96 1.49
HDFC Bank 64.71 0.83 1.3
ICICI Bank 19.65 0.22 1.13
Infosys 25.41 0.03 0.12
Tata Motor 31.33 -0.22 -0.7
Wipro 9.76 0.08 0.83

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.41 0.11
Brent 78.78    -0.29
Gold 1817.55  0.19
Silver 23.152  0.40

FIIs & DII

Particulars 30th Dec 29th Dec
FIIs -986.32 -975.23
DIIs 577.74 1006.93

News Update:

CMS Info Systems : Shares of the company will make a debut on the bourses today. The final issue price is fixed at Rs 216 per share.

State Bank of India : SBI buys 9.95 percent stake in India International Exchange.

PB Fintech : The company has approved an investment of up to Rs 700 crore in one or more tranches in subsidiary Policybazaar Insurance Brokers during FY22 and FY23, and up to Rs 299.99 crore in subsidiary Paisabazaar Marketing and Consulting.

Power Grid Corporation of India : The company has approved an investment proposal for the expansion of POWERGRID telecom into the data centre business and to establish a data centre at Manesar at an estimated cost of around Rs 322 crore.

IDFC FIRST Bank : The board of directors of the lender has given an in-principle nod to the merger of IDFC & IDFC Financial Holding Company with IDFC FIRST Bank. The board has formed a committee namely Capital Raise and Corporate Restructuring Committee to work on terms of the proposed merger.

Sterling and Wilson Renewable Energy : The company has approved the preferential allotment of 2.93 crore equity shares, to RNESL at a price of Rs 375 per share, aggregating to Rs 1,099,99 crore. Post the allotment, RNESL will hold 15.46 stake in the company.

JSW Energy : Life Insurance Corporation of India acquired 2.01 percent stake in the company through open market transactions, increasing shareholding to 9.01 percent from 7 percent earlier.

Biocon : Subsidiary Biocon Biologics’ partner Viatris won US Court decisions on Sanofi appeals for Lantus device patents.

Punjab National Bank  The government has appointed UCO Bank MD & CEO AK Goel as the MD and CEO of Punjab National Bank.

IRB Infrastructure Developers : The Competition Commission of India gives a provisional nod to Cintra’s investment in IRB Infrastructure Developers.

HDFC Bank: saw its market share in creditcard business rise for 1st time in 13 months Industry saw decline in spends MoM, but, Nov spending was higher than Sept spending Oct spending was robust due to festive season.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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