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

Asian stocks and U.S. futures rose as markets rebounded from Thursday’s selloff. Shares climbed in Australia, South Korea and Japan. S&P 500 futures saw modest gains. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.03% to 17,824.50, as of 8:30 a.m. Elsewhere, oil held near a seven-week high on supply constraints. Gold and Bitcoin were little changed.

Economic Calendar:

  • INR: CPI December on 12th January, 2022.
  • INR: Forex Reserve USD on 7th January 2022.
  • USD: Non Payroll Dec on 7th January, 2022.
  • USD: Consumer Credit on 8th January, 2022.

Brokerage Radar:

CLSA ON GODREJ CONSUMER PRODUCT LIMITED: Outperformer rating with Target Price of Rs 1130 3Q update noted high-single-digit consolidated revenue growth YoY Vol growth for branded India biz expected to be in low single digits Home care & personal care segment would see high-single-digit growth Indonesia likely to be stressed with weak profitability.

CREDIT SUISSE ON TITAN: Neutral, with Target Price raised to Rs 2700 from Rs 2500 3Q FY22: Another large beat from the jewellery business Good traction in watches and eyewear as well Raise FY22/23/24E earnings by 7%.

CLSA ON TITAN :Sell rating with, Target Price of Rs 2200 Reported 36% organic top-line growth, aided by strong 37% growth in the jewellery segment Oct & Nov’21 saw robust sales in Jewellery Steady ticket size , improving studded share, improved walk-ins & higher GHS enrolment aided jewellery sales.

MORGAN STANLEY ON HPCL: Maintain OVERWEIGHT with target price of Rs.391 Refining Margin Is Consistently Rising with Fuel Demand above Pre-COVID Levels Fuel Inventories At Multi-yr Low, Refinery Capacity Rationalization Keeping Markets Tight, Slower Exports From China Should Add To Upside.

International Markets:

U.S & Europe

Particulars 6th Jan Chg Chg(%)
Nasdaq 15,080.86 -19.31 -0.13
Dow 36236.47 -170.64 -0.47
FTSE 7,450.37 -66.5 -0.88
CAC 7,249.66 -126.71 -1.72
DAX 16,052.03 -219.72 -1.35
Dow Fut.* 36304.1 67.6 0.19

Asian markets:

Particulars 6th Jan Chg. Chg(%)
SGX Nifty 17,824.00 4.5 0.03
Nikkei 28,395.24 -92.63 -0.33
Straits Times 3,193.49 9.19 0.29
Hang Seng 23,194.36 121.5 0.53
Shanghai 3,594.57 8.49 0.24

ADR Watch:

Particulars 6th Jan Chg. Chg.(%)
Dr Reddy 63.65 -0.29 -0.45
HDFC Bank 68.1 0.86 1.28
ICICI Bank 21.15 0.27 1.29
Infosys 24.11 -0.19 -0.78
Tata Motor 32.85 0.9 2.82
Wipro 9.55 0.04 0.42

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.49 0.17
Brent 82.67 0.85
Gold 1791.55 0.13
Silver 22.157 – 0.15

FIIs & DII

Particulars 6th Jan 5th Jan
FIIs -1926.77 336.83
DIIs 800.91 1271.95

News Update:

Reliance Industries : RIL’s arm Reliance Retail has bought a 25.8 percent stake in Dunzo, a leading quick commerce player, for $200 million as it looks to expand its presence in the online grocery delivery business.

Shriram Transport Finance : Fitch has rated the company’s proposed USD senior secured bonds ‘BB(EXP)’.

Godrej Consumer Products : At a consolidated level, the company expects to deliver close to high single-digit sales growth. On the profitability front, Godrej Consumer Products sees its quality of profits to improve with sequentially thereby expanding gross margins, however, lower on a year-over-year basis due to unprecedented cost inflation.

HCL Technologies : The company completed acquisition of 51 percent stake in German IT Consulting Company, Gesellschaft für Banksysteme.

Ujjivan Small Finance Bank : Gross loan book increased 22 percent YoY to Rs 16,600 crore, and disbursements rose 120 percent YoY to Rs 4,800 crore, while total deposits jumped 34 percent to Rs 15,600 crore in Q3FY22.

Anand Rathi Wealth : The company has declared an interim dividend of 100 percent i.e. Rs 5 per equity share, for FY22. The company reported consolidated profit at Rs 32.03 crore in Q3FY22 against Rs 13.12 crore in Q3FY21 and revenue jumped to Rs 105.69 crore from Rs 68.08 crore YoY in the same period.

Titan Company : Jewellery business grew by 37 percent in Q3FY22 YoY, watches & wearables increased by 28 percent, eye wear by 27 percent and other businesses grew by 44 percent.

HFCL : The company, in its wholly-owned subsidiary in the Netherlands, onboarded Andrew Westerman as the Vice-President of International Sales, Communication Products to lead the sales and business development for the communication products in global markets. The Company also onboarded Rajesh Jain as the Executive President of the EPC Projects Business. And, to strengthen its R&D capability, the company has onboarded Santanu Bhattacharyya as the Vice President and Head of FPGA Engineering.

Hinduja Global Solutions : The board of directors has approved interim dividend of Rs 150 per share. Further, it also approved 1-for-1 Bonus Share Issue.

Gujarat Pipavav Port: Container volume fell 21 percent on year in Oct-Dec period, the company said

 

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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