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

Asian stocks were mixed Friday as traders evaluated risks from the omicron virus strain, while Treasury yields pared a climb spurred by Federal Reserve comments about a quicker reduction in stimulus. Equities fluctuated in Japan, fell in South Korea and rose in Australia. China and Hong Kong face headwinds: Chinese shares traded in the U.S. slid over the risk of delisting for flouting disclosure rules. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, shed 0.30% to 17,393.50 as of 8:05 a.m.

Economic Calendar:

  • INR: Trade Balance (Nov) on 3rd December, 2021.
  • INR: Nikkei Services PMI (Nov) on 3rd December, 2021.
  • USD: ISM Non-Manufacturing PMI (Nov) on 3rd December, 2021.
  • USD: Unemployment Rate on 3rd December, 2021.

Brokerage Radar:

MACQUARIE ON ASIAN PAINTS: Maintain buy at the price of Rs 3181 for the target price of Rs 3900. Mkt share gains, allayed margin concerns & benign competitive pressure to benefit. Adding to marquee buy list. Recent raw material moderation & healthy demand environment enhance outlook. See limited concerns from entry of new players like Grasim.

CLSA ON MARUTI SUZUKI: Maintain underperform at the price of Rs 7306.45 for the target price of Rs 6420. Losing market share in the highly profitable bile SUV segment. Downgrades likely on volume and margins for FY2023/24. Margin recovery on the cards but could be below consensus.

International Markets:

U.S & Europe

Particulars 02nd Dec Chg Chg(%)
Nasdaq 15,381.32 127.27 0.83
Dow 34,639.79 617.75 1.82
FTSE 7,129.21 -39.47 -0.55
CAC 6,795.75 -86.12 -1.25
DAX 15,263.11 -209.56 -1.35
Dow Fut.* 34,492.00 -130.00 -0.38

Asian markets:

Particulars 3rd Dec Chg Chg(%)
SGX Nifty 17,393.50 -52.00 -0.30
Nikkei 27,677.78 -75.59 -0.27
Straits Times 3,094.94 2.83 0.09
Hang Seng 23,574.83 -214.10 -0.90
Shanghai 3,582.66 8.82 0.25

ADR Watch:

Particulars 2ndDec Chg Chg(%)
Dr Reddy 62.40 0.88 1.43
HDFC Bank 67.16 0.86 1.30
ICICI Bank 18.69 0.17 0.92
Infosys 23.44 1.00 4.46
Tata Motor 31.97 0.69 2.21
Wipro 8.75 0.32 3.80

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.00 0.12
Brent 69.90 -0.74
Gold 1771.45 0.50
Silver 22.337 0.09

FIIs & DII

Particulars 2nd Dec 1st Dec
FIIs -909.71 -2765.84
DIIs 1372.65 3467.02

News Update:

Reliance Capital: RBI has initiated insolvency proceedings against the company. The central bank has filed insolvency application at Mumbai bench of NCLT. Interim moratorium will commence from date of filing till admission/rejection.

Biocon: Biocon Pharma, a subsidiary of the company, received approval of its ANDA for Mycophenolic Acid from the U.S. FDA. This product is indicated for the prophylaxis of organ rejection in adult patients receiving a kidney transplant and is available in 180 mg and 360 mg strengths.

Bharti Airtel: The company has given a clarification on report of talks to buy stake in Dish TV. As a matter of policy, we do not comment on media speculation or reports, Bharti Airtel said. The company evaluates various opportunities of restructurings, alliances or acquisitions and other similar avenues as per its requirements in the ordinary course of business.

NHPC: To consider the proposal regarding monetisation of Return on Equity of one power station of the company through securitisation for suitable tenure on December 7.

Apollo Pipes: Crisil Ratings has upgraded the long-term credit rating of bank loan facilities– of Rs 180.2 crore– of the company to A/stable and short-term rating to A1.

Sona BLW Precision Forgings: India Ratings & Research has upgraded the company’s long-term issuer rating to AA from AA- and the outlook is stable.

Delta Corp: Waterways Shipyard, an associate company of Delta Corp, to acquire 50% stake in WSPL Containers for Rs 5 crore. The acquisition is expected to be completed by Dec 31.

Tata Power: Tata Power has collaborated with amã Stays & Trails, India’s first branded homestay portfolio by Indian Hotels Company Ltd, to set up EV charging stations at over 30 of its villas and heritage bungalows across 11 destinations.

Larsen & Toubro: L&T and leading renewable energy company ReNew Power (ReNew) on Thursday signed an agreement to tap the $60 billion emerging green hydrogen market in India. The companies are targeting a business potential of $2 billion from the segment in India and neighbouring countries in two years.

Meghmani Finechem: Ratings agency Crisil has upgraded the rating of Meghmani Finechem Ltd to Crisil AA-/Stable with the rationale being steady revenue growth, healthy operating margin, good demand prospect and improving financial risk profile. “Crisil has revised the outlook on Meghmani Finechem Limited’s long term bank facilities from ‘Crisil A+/Positive’ to ‘CRISIL AA-/Stable’,”.

Crompton: The company has set up its largest Research and Development (R&D) centre in Vikhroli, Mumbai, to step-up innovation. Spread across 50,000 square feet, the new centre will undertake research and development in significant consumer applications along with advanced technology enhancements such as IoT, energy efficiency, and solution development.

ABB India: The company has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of ₹44.58 crore. Dodge Industrial India is an affiliate of RBC Bearings Incorporated.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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