Market-View-Feature-Image

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

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