Market-View-Feature-Image

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

Asian stocks opened higher after technology shares led U.S. equities to their biggest rally in nine months as traders bet the omicron Covid variant won’t stall the global recovery. Treasury yields pared an advance. Equity benchmarks rose in Japan, South Korea and Australia. U.S. futures edged higher after both the S&P 500 and Nasdaq 100 chalked their biggest gains since March. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.71% to 17,334.00, as of 8:05 a.m.

Economic Calendar:

  • INR: Interest Rate Decision on 8th December, 2021.
  • INR: FX Reserves, USD on 10th December, 2021.
  • USD: JOLTSs Job Opening (Oct) on 8th December, 2021.
  • USD: Crude Oil Inventories on 8th December, 2021.

Brokerage Radar:

GS ON BHARTI AIRTEL: Maintain buy at the price of Rs 698 for the target price of Rs 870. It offers high earnings visibility; forecast 38% FY21-24 EBITDA CAGR for wireless biz. See upside risks to earnings if ARPUs were to be closer to the company-guided number. Every `10 of incremental ARPU Is $400 m of incremental FCF for Co. Co trades at 8x FY23e EV/EBITDA, broadly in-line with its historical trading average. India biz may generate $2.5 bn+ of annual FCF on avg for the next four years.

CREDIT SUISSE ON INDIGO: Maintain outperform at the price of Rs 1945.25 for the target price of Rs 2700. Continued strong yields & traffic may turn quarter profitable. Removal of restrictions progressive for airlines. Industry load factors near pre COVID levels. Industry level passenger count stable, while airlines ramp up capacity

JP MORGAN ON STEEL: China’s net steel exports fall to yearly lows in Nov highlighting tight regional supply. There are signs of policy easing in China. China’s net steel exports fell 13% MOM to 2.9 mt, lowest in 12 months. Exports could further reduce driving regional HRC prices higher.

International Markets:

U.S & Europe

Particulars 7th Dec Chg Chg(%)
Nasdaq 15,686.92 461.77 3.03
Dow 35,719.43 492.40 1.40
FTSE 7,339.90 107.62 1.49
CAC 7,065.39 199.61 2.91
DAX 15,813.94 433.15 2.82
Dow Fut.* 35,778.00 65.00 0.18

Asian markets:

Particulars 8th Dec Chg Chg(%)
SGX Nifty 17,334.00 123.00 0.71
Nikkei 28,774.05 318.45 1.12
Straits Times 3,126.14 -8.52 -0.27
Hang Seng 23,982.09 -1.57 -0.01
Shanghai 3,604.04 8.95 0.25

 

ADR Watch:

Particulars 7th Dec Chg Chg(%)
Dr Reddy 60.32 0.82 1.38
HDFC Bank 67.30 1.42 2.16
ICICI Bank 19.10 0.80 4.37
Infosys 23.06 0.81 3.64
Tata Motor 31.85 1.05 3.41
Wipro 8.72 0.27 3.20

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.44 0.03
Brent 75.29 0.16
Gold 1790.75 0.34
Silver 22.552 0.13

FIIs & DII

Particulars 7thDec 6thDec
FIIs -2584.97 -3361.28
DIIs 2605.81 1701.56

News Update:

Reliance Industries: The petchem major has formed a $2 billion partnership with Abu Dhabi Chemicals Derivatives Company RSC Ltd (Ta’ziz) for chemical production. The joint venture will construct and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, with an investment of more than $2 billion.

Larsen & Toubro: Has signed an initial agreement with the Saudi Aramco to develop manufacturing capabilities in Saudi Arabia. Under the plan, Larsen will build the region’s first Heavy Wall Pressure Vessels facility in the kingdom’s Jubail Industrial City.

SpiceJet Ltd: Has said it is hopeful of a favourable outcome of its proposed appeal against a winding up petition ordered by the Madras high court. The HC had ordered winding up of the airline on a petition filed by Credit Suisse over unpaid dues of $24 million. It had also directed an official liquidator to take over the assets of the airline. The order was subsequently stayed for three weeks following a plea by the airline and on the condition that it deposits $5 million with the court within two weeks.

Telecom stocks: Telecom Regulatory Authority of India has directed telcos to immediately enable facility to send text message or SMS short code 1900, which is used for porting from one carrier to another. It has said that the service that enables requests for unique porting code has to be made effective for all subscribers, prepaid and postpaid, irrespective of the tariff value of the offer or voucher.

Vodafone Idea: Has partnered with communications service provider Tanla Platforms to encrypt the entire international messaging traffic on the Vi network, which are messages originating outside India and terminating in India. The partnership will be hosted on a cloud based platform called Wisely and is expected to help the telco delve deeper into the global enterprise market.

Nestle India: The Centre has approved the company’s proposal for its production linked incentive (PLI) scheme regarding processed fruits and vegetables. It had submitted its proposal for the food processing sector under the eligible categories i.e., ready to eat / ready to cook and processed fruits & vegetables in June.

NHPC: Has approved monetisation by securitisation through a bidding process of return on equity (RoE) of Chamera-I power station (3 X 180 MW), Himachal Pradesh, and further to monetise the RoE of one or more power stations for 05/10/15 years in one go or rollover.

Jindal Steel and Power: November steel production of 6.74 lakh tonnes was up 10% year-on-year. Steel sales stood at 5.39 lakh tonnes and exports contributed 15% to the total sales volumes

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