View on market: Stay Cautious, be with quality business:
Asian stocks started the week with gains after their U.S. peers closed higher Friday, as prospects for a pickup in growth outweighed concern over inflation pressures. Shares rose in Japan and Australia, and U.S. futures advanced. Mainland Chinese markets are closed through Thursday for the Golden Week holidays. The S&P 500 rose over 1% Friday after promising results for a Covid-19 pill and positive manufacturing data triggered a rally in companies that stand to benefit from an economic reopening. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.10% to 17,547.00, as of 7:50 a.m.
Economic Calender:
- INR: Trade Balance on 4th October, 2021
- INR: Nikkei Markit Services PMI on 5th October, 2021
- INR: M3 Money Supply on 6th October, 2021
- USD: ISM Non-Manufacturing PMI (Sept) on 5th October, 2021
Brokerage Radar:
MACQUARIE ON AVENUE SUPERMART: Maintain outperform at the price of Rs 4242 for the target price of Rs 4950. Q2 update points to sharp recovery in demand same-store sales up 6% vs pre-covid levels in Q2. Upgrade FY22/23/24 EPS by3%/1%/1% to factor this recovery. Inflation is an additional tailwind.
MACQUARIE ON JUBILANT PHARMOVA: Maintain outperform at the price of Rs 627 for the target price of Rs 870. Slow recovery in key Radiopharma products like MAA & DTPA. Roorkee import alert & Sartans pricing should dent profitability. Expect FY22 to be another tough year. With receding headwinds for Rubyfill & Riad, positive on growth prospects beyond FY22. Have supportive valuations & strong long-term radiopharmam prospects.
International Markets:
U.S & Europe
| Particulars | 1stOct | Chg | Chg(%) |
| Nasdaq | 14,566.70 | 118.12 | 0.82 |
| Dow | 34,326.46 | 482.54 | 1.43 |
| FTSE | 7,027.07 | -59.35 | -0.84 |
| CAC | 6,517.69 | -2.32 | -0.04 |
| DAX | 15,156.44 | -104.25 | -0.68 |
| Dow Fut.* | 34,033.00 | -134.00 | -0.39 |
Asian markets:
| Particulars | 4th Oct | Chg | Chg(%) |
| SGX Nifty | 17,547.00 | 17.00 | 0.10 |
| Nikkei | 28,418.50 | -352.57 | -1.23 |
| Straits Times | 3,090.02 | 38.91 | 1.28 |
| Hang Seng | 24,062.23 | -513.41 | -2.09 |
| Shanghai* | 3,568.17 | 31.88 | 0.90 |
ADR Watch:
| Particulars | 1stOct | Chg | Chg(%) |
| Dr Reddy | 66.33 | 1.19 | 1.83 |
| HDFC Bank | 73.71 | 0.62 | 0.85 |
| ICICI Bank | 18.94 | 0.07 | 0.37 |
| Infosys | 22.33 | 0.08 | 0.36 |
| Tata Motor | 22.78 | 0.37 | 1.65 |
| Wipro | 8.94 | 0.11 | 1.25 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.29 | -0.28 |
| Brent | 79.09 | -0.24 |
| Gold | 1761.30 | 0.16 |
| Silver | 22.590 | 0.24 |
FIIs & DII
| Particulars | 1st Oct | 30th Sept |
| FIIs | 131.39 | -2225.60 |
| DIIs | -613.08 | 97.18 |
News Update:
Grasim Industries: Deputy Commissioner of Income Tax has imposed a capital gain tax on the company of Rs 8,334 crore related to a sale of shares in group firm Aditya Birla Capital during tax assessment year 2018-19. The company said it will take appropriate action against the said order which it believes is against the spirit of tax laws.
Coal India: Production in September up 0.4% year-on-year to 40.7 MT versus 40.5 MT. Offtake up 3.6% year-on-year to 48.3 MT versus 46.7 MT.
Pfizer: The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines business (Upjohn Business) as a going concern to Mylan for Rs 180.48 crore.
Tech Mahindra: The company through its subsidiary, Tech Mahindra GmbH, has approved the proposal to acquire 100% equity shares in Beris consulting GmbH for 7 million euros. The transaction is expected to be completed by October 8.
Future Group and Reliance Retail have extended deal timeline to March 2022. Reliance Retail Ventures has extended the timeline for Long Stop Date from September 30, 2021 to March 31, 2022.
Nestle India: The company’s new factory at Sanand in Gujarat has commenced initial phase of production.
Ambuja Cement: The company has commenced commercial production of clinker and cement at its Marwar Greenfield Plant in Nagaur district of Rajasthan.
Emami: The company’s stake in Brillare Science has increase to 57.36% from 34.70% on conversion of CCPS into equity shares. Consequently, Brillare Science has become a subsidiary of the company.
NIIT: The company has acquired 70% stake in RPS Consulting to strengthen its training solutions in emerging digital technologies. The remaining 30% shareholding will be acquired by NIIT in subsequent tranches.
United Spirits: Shareholders and unsecured creditors have approved the scheme of amalgamation and arrangement amongst Pioneer Distilleries Ltd. and the company.
Sona BLW Precision Forgings: The company, through its subsidiary Sona Comstar eDrive Pvt Ltd, has executed a collaboration agreement with IRP Nexus Group, through the initiative of International Center for Entrepreneurship and Technology.
NTPC: Sources told CNBC-TV18 that NTCP will divest NTPC Renewable Energy, North Eastern Electric Power Corporation and NTPC Vidyut Vyapar Nigam. The company targets over Rs 15,000 crore by FY24.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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