Market-View-Feature-Image

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

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL

 

FILING COMPLAINTS ON SCORES - EASY & QUICK

a. Register on SCORES portal

b. Mandatory details for filing complaints on SCORES:
i. Name, PAN, Address, Mobile Number, E-mail ID

c. Benefits:
i. Effective communication
ii. Speedy redressal of the grievances

SEBI : https://www.scores.gov.in/scores/complaintRegister.html