View on market: Stay Cautious, be with quality business:
U.S. equity futures and Asian stocks rose Friday as earnings from Amazon.com Inc. helped to stanch a technology rout. Worries about monetary tightening are also whipsawing markets, leaving bond yields higher. The Nasdaq 100 fell the most since 2020 on Thursday, hurt by a historic $251 billion wipeout for Facebook owner Meta Platforms Inc. But Amazon could add nearly $200 billion in market if the stock’s 14% gain in after-hours trading holds to Friday’s Wall Street close. Contracts on the S&P 500 and tech-heavy Nasdaq 100 climbed, the latter by 2%, after e-commerce titan Amazon and Snap Inc. soared in late trading on strong earnings. Japan and South Korea boosted an Asia-Pacific share gauge. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.37% to 17,581.50 as of 8:20 a.m. Meanwhile, surprisingly hawkish comments from European Central Bank President Christine Lagarde and a Bank of England interest-rate hike highlighted persistent concerns about high inflation. Elsewhere, West Texas Intermediate oil stayed above $90 a barrel after scaling the mark for the first time since 2014. Bitcoin traded above $37,100.
Economic Calendar:
- INR: RBI Credit Policy on 9th February, 2022.
- INR: Nikkei Service PMI on 3rd February 2022.
- USD: Factory order on 3rd February, 2022.
- USD: Non Payrolls Data on 4th February, 2022.
Earnings: Tata Steel Whirlpool of India Sun Pharma Advanced Research Divi’s Laboratories InterGlobe Aviation Shree Cement Siemens One 97 Communications Aditya Birla Fashion and Retail Birla Corporation Firstsource Solutions Alkem Laboratories Godrej Agrovet Thermax Astral Bayer Cropscience CreditAccess Grameen City Union Bank Dalmia Bharat Sugar and Industries Devyani International DFM Foods Eveready Industries India Gujarat Narmada Valley Fertilizers & Chemicals Jamna Auto Industries Jubilant Pharmova KIOCL Lakshmi Machine Works Mahindra Lifespace Developers Minda Corporation NOCIL REC
Results:
ITC: Revenue up 30% at Rs 18,365.8 crore Vs Rs 14,124.48 crore , Net profit up 15% at Rs 4,056.73 crore Vs Rs 3,526.55 crore Ebitda up 17% at Rs 5,597.67 crore Vs Rs 4,785.02 crore (Bloomberg estimate: Rs 5,349.8 crore) Margins at 30.5% Vs 33.9%
Pfizer:Q3FY22 (Consolidated, YoY) Revenue up 14% at Rs 675.9 crore Vs Rs 593.5 crore Net profit up 2% at Rs 143.9 crore Vs Rs 141.2 crore .Ebitda down 1% to Rs 195.2 crore Vs Rs 196.8 crore,Margin at 28.9% Vs 33.2% EPS at Rs 31.46 per share Vs Rs 30.87 per share.
Torrent Power: Q3FY22 (Consolidated, YoY) Revenue up 28% at Rs 3,767.43 crore Vs Rs 2,952.75 crore Net profit up 15% at Rs 368.08 crore Vs Rs 320.5 crore Ebitda up 7% at Rs 933.95 crore Vs Rs 870.28 crore Margin at 24.8% Vs 29.5% Approved interim dividend of Rs 9 per share.
Brokerage Radar:
UBS ON ITC: Buy, TP Rs 280 Q3FY22: Revenue beat across segments Cigarette volumes grow c.13% YoY Overall revenue growth 32.1% YoY (2Y-CAGR: 15.8%) FMCG non-cigarette segment revenues grew 9.3% YoY (2Y-CAGR: 11.1%).
CLSA ON GODREJ PROPERTIES: Sell, TP cut to Rs 1424 vs Rs 1563 Concern over convoluted deal structure & risk-prone slum rehab projects Direct investment in DB Realty unwarranted Slum rehab projects have long gestation periods & prone to drain cash & get stuck.
International Markets:
U.S & Europe
| Particulars | 3rd Feb | Chg | Chg(%) |
| Nasdaq | 13,878.82 | -538.73 | -3.74 |
| Dow | 35111.16 | -518.17 | -1.45 |
| FTSE | 7,528.84 | -54.16 | -0.71 |
| CAC | 7,005.63 | -109.64 | -1.54 |
| DAX | 15,368.47 | -245.3 | -1.57 |
| Dow Fut.* | 35243.30 | 131.1 | 0.37 |
Asian markets:
| Particulars | 4th Feb | Chg. | Chg(%) |
| SGX Nifty | 17,582.50 | 64 | 0.37 |
| Nikkei | 27,233.83 | -7.48 | -0.03 |
| Straits Times | 3,322.67 | 6.68 | 0.2 |
| Hang Seng | 24,426.34 | 624.08 | 2.62 |
| Shanghai | 3,361.44 | -32.81 | -0.97 |
ADR Watch:
| Particulars | 3rd Feb | Chg. | Chg.(%) |
| Dr Reddy | 58.14 | -0.43 | -0.73 |
| HDFC Bank | 68.72 | -0.96 | -1.38 |
| ICICI Bank | 21.47 | -0.42 | -1.92 |
| Infosys | 22.76 | -1.01 | -4.25 |
| Tata Motor | 33.11 | -0.55 | -1.63 |
| Wipro | 7.55 | -0.28 | -3.58 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.86 | 0.03 |
| Brent | 91.54 | 0.47 |
| Gold | 1807.15 | 0.17 |
| Silver | 22.492 | 0.52 |
FIIs & DII
| Particulars | 3rd Feb | 2nd Feb |
| FIIs | -1597.54 | -183.60 |
| DIIs | -370.58 | 425.96 |
News Update:
ICICI Bank: Bought additional stake in India International Clearing Corporation (IICC) at IFSC in GIFT City for Rs 4.43 crore, taking its holding in the clearing body to 9.90%.
Escorts: The company has received approval from Competition Commission of India for the preferential issue of 93,63,726 equity shares to Kubota Corporation, Japan.
Godrej Properties: The company approved investment in DB Realty and will also set up a special purpose vehicle along with DBR to jointly undertake slum rehabilitation and MHADA redevelopment projects. The company will subscribe to warrants convertible into equity shares aggregating to approximately 10% of the issued and paid-up capital of DBR for approximately Rs 400 crore. The company along with DBR will each contribute an additional Rs 300 crore towards the equity platform.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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