Market View 5th September 2022

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

European equity futures tumbled and the euro fell Monday as the region’s worsening energy crisis added to concerns about a global economy already facing inflation, monetary policy risks. The dollar was firm. Crude jumped past $88 a barrel ahead of an OPEC+ meeting on supply and as traders weighed the latest energy-sector twists. At 7:05 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.24% lower at 17,498.50 points.

Economic Calendar:

• USD : ISM Non-Manufacturing PMI (Aug) on 05^th Sep, 2022
• USD : CPI (MoM) (Aug) on 13^th Sep, 2022
• INR : Nikkei Services PMI (Aug) on 05^th Sep, 2022
• INR : CPI (YoY) (Aug) on 12^th Sep, 2022

Who’s Meeting Whom:

ADF Foods: To meet analysts and investors on Sept. 8.

Greenply Industries: To meet analysts and investors on Sept. 5.

Persistent Systems: To meet analysts and investors on Sept. 5.

Century Textiles & Industries: To meet analysts and investors on Sept. 5.

Brokerage Radar:

BOFA ON M&M: BUY, TP Rs. 206; Aug’22: disbursements +75% YoY; CE strong at 96%; GS-3 stable, GS-2 down MoM; Strong medium term (FY25) guidance: 2x AUM, GS-3

MS ON RIL: OW, TP Rs. 3085; Co’s 4th investment cycle this century has significant differences to past cycles, underappreciated energy tailwinds & potential to double profits by 2027; While co has evolved to create value every cycle, this one has far more constructive setup

JEFFERIES ON BHARTI AIRTEL: Mintain to BUY, TP Rs. 855; Singtel’s 3.3% stake sale will drive a 1.7% increase in shareholding of Mittal Family; However it will up Bharti Tele’s debt, which will need higher dividends from Bharti; It will eventually lead to Bharti Telecom selling stake in co to repay the debt

International Markets:

U.S & Europe:

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DIIs:

News Update:

Wipro: The company has partnered with Cisco to accelerate cloud transformation for customers. The partnership will enable Wipro customers to deploy Wipro FullStride Cloud Service to enable a fully automated hybrid-cloud stack, reducing the implementation time and enhancing the user experience.

JSW Steel: Life Insurance Corporation increased its stake in the company from 5% to 7.01%.

GMR Infrastructure: The company approved raising of funds of up to Rs 6000 crore in one or more tranches through issue of securities including a Qualified Institutions Placement and/or foreign currency convertible bonds and/or any other securities.

Hindalco: Aluminium buyer Novelis excludes Russian metal in Supply deal.

Hindustan Aeronautics, L&T: Wins Rs 860 crore deal from NSIL to entirely build five PSLV rockets.

JSW Steel: LIC’s holding in JSW Steel has risen to 7.01%.

SpiceJet: Gets up to three-month extension of time to hold AGM.

Vodafone Idea: has prepaid a short-term loan of around Rs 2,700 crore to State Bank of India to shore up lenders’ confidence as it urgently seeks fresh bank funds to tie up equipment supply deals for 5G networks and also clear some of its near Rs 15,000-crore trade payables, comprising dues to tower companies, network gear vendors and other suppliers, ET report said.

HFCL: Board on Friday approved raising up to Rs 650 crores which will be invested in enhancing R&D facilities, setting up new production facilities to enhance capacity under the production linked incentive (PLI) scheme and design linked incentive (DLI) scheme

Source: Moneyontrol, Livemint,, Bloomberg, Investing

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