Market-View-Feature-Image

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

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