View on market: Stay Cautious, be with quality business:
Asian stocks Friday tracked a Wall Street climb as concerns eased about the U.S. debt ceiling and an energy crunch. Investors are awaiting a key American jobs report and the start of trading in China after a holiday. Japanese shares outperformed, while South Korea and Australia posted more muted performance. U.S. futures edged up after the S&P 500 and Nasdaq 100 pushed higher for a third day. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, climbed 0.15% to 17,843 as of 8:10 a.m.
Economic Calender:
- INR: Interest Rate Decision on 8th October, 2021.
- INR: Deposit & Bank Loan Growth on 8th October, 2021.
- USD: Unemployment Rate (Sept) & Nonfarm Payrolls (Sept) on 8th October, 2021
- USD: Core CPI (MoM) (Sep) on 13th October, 2021.
Brokerage Radar:
NOMURA ON M&M: Maintain buy at the price of Rs 878 for the target price of Rs 1086. Believe XUV700 will drive volume recovery for co. XUV700 can help it regain significant market share in the medium term. Continue to believe that there are strong margin levers.
CLSA ON PIRAMAL ENT: Maintain outperform at the price of Rs 2888 for the target price of Rs 2960. Initiated demerger process of its pharmaceuticals biz. Co would focus only on financial services biz of the group. Co believes both biz are adequately capitalised for organic & inorganic.
Earnings: Tata Consultancy Services.
International Markets:
U.S & Europe
| Particulars | 7th Oct | Chg | Chg(%) |
| Nasdaq | 14,654.02 | 152.11 | 1.05 |
| Dow | 34,754.94 | 337.95 | 0.98 |
| FTSE | 7,078.04 | 82.17 | 1.17 |
| CAC | 6,600.19 | 107.07 | 1.65 |
| DAX | 15,250.86 | 277.53 | 1.85 |
| Dow Fut.* | 34,735.00 | 97.00 | 0.28 |
Asian markets:
| Particulars | 8th Oct | Chg | Chg(%) |
| SGX Nifty | 17,843.00 | 27.50 | 0.15 |
| Nikkei | 28,275.52 | 597.31 | 2.16 |
| Straits Times | 3,107.41 | 6.26 | 0.20 |
| Hang Seng | 24,807.18 | 105.45 | 0.43 |
| Shanghai | 3,595.81 | 19.64 | 0.55 |
ADR Watch:
| Particulars | 7th Oct | Chg | Chg(%) |
| Dr Reddy | 65.49 | -0.37 | -0.56 |
| HDFC Bank | 73.61 | 0.61 | 0.84 |
| ICICI Bank | 18.90 | 0.21 | 1.12 |
| Infosys | 22.77 | 0.32 | 1.43 |
| Tata Motor | 25.75 | 3.41 | 15.26 |
| Wipro | 8.92 | 0.12 | 1.36 |
Commodities & Currency
| Particulars | Current Price | Chg(%) |
| USD/INR | 74.87 | -0.47 |
| Brent | 83.02 | 1.31 |
| Gold | 1759.95 | 0.04 |
| Silver | 22.530 | 0.56 |
FIIs & DII
| Particulars | 7th Oct | 6th Oct |
| FIIs | -1764.25 | -801.81 |
| DIIs | 2528.64 | -998.69 |
News Update:
InterGlobe Aviation: Rahul Gangwal, co-promoter of InterGlobe Aviation Ltd. has moved the Delhi High Court to seek enforcement of an arbitral award in his shareholder dispute with co-promoter Rahul Bhatia.
Zee Entertainment Enterprises: NCLT made an error in not granting enough time to Zee for replying to Invesco Developing Markets Fund’s petition seeking an extraordinary general meeting of the company, NCLAT said. The NCLAT, however, has not specified the time Zee should be given. NCLT Mumbai is scheduled to resume hearing in the case today.
JSW Energy: The company has signed a contract with GE Renewable Energy for supply of 810 MW of onshore wind turbines for the company’s underconstruction pipeline of 2.5 GW of renewable projects in India. The supply of the turbines will start by the second quarter of CY2022.
Hero MotoCorp: Introduces XPulse 200 4 Valve adventure motorcycle.
Piramal Enterprises: To spin off & list pharma business; shareholders will get 4 shares of Piramal Pharma Ltd. for each share held.
Great Eastern Shipping Company: SBI Mutual Fund sold 8.44 lakh equity shares in the company via an open market transaction on October 6, reducing shareholding to 2.85% from 3.43% earlier.
Ratnamani Metals & Tubes: The company has received a new order of Rs 98 crore for the supply of carbon steel pipes from the domestic oil and gas sector, to be executed in 5 to 12 months.
IL&FS Transportation Networks: To sell stake in Warora Chandrapur Ballarpur Toll Road, an associate of the company, to Vishvaraj Infrastructure for Rs 12.25 crore. The sale is expected to be completed by January 31, 2022.
National Aluminium Co.: A patent has been granted jointly to Jawaharlal Nehru Aluminium Research Development and Design Centre and Nalco by Controller of Patent for an invention entitled “Determination of calcium in alumina hydrate, calcined alumina and process liquor.
Oberoi Realty: Units booked in Q2 at 200 vs 45 YoY (39 QoQ); Booking value in Q2 at Rs 828.52 crore vs Rs 327.30 YoY (Rs 169.97 QoQ); Area booked in Q2 at 4,43,716 square feet vs 1,30,236 square feed YoY (92,128 square feet QoQ)
Ramkrishna Forgings: Company has signed a Memorandum of Understanding (MOU) with a US-based technology partner for the development of electric vehicle powertrain components for the Indian EV market.
Tata Motors: The automaker hit a 52-week high on Thursday, which could be attributed to expected revival in the auto sector with the economy starting to look up and Tamil Nadu’s invitation to the firm to take over the manufacturing facility of Ford, which is winding down operations in Chennai.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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