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

Asian equities gained after U.S. treasury yield stabilised and dollar strengthening further. Japan paced a 0.7% advance in the regional index, a smaller gain than the rallies of about 2% in the S&P 500 and Nasdaq 100 overnight. At 6:35 am, the Singapore-traded SGX Nifty–an early barometer of India’s benchmark Nifty 50–traded 0.56% higher at 17,729 points. The stronger U.S dollar led currencies like yen and the power to the lowest since 1985. U.S. treasury yield stabilised as bonds got a boost from the fall in oil prices.

Economic Calendar:

  • USD : Fed Chair Powell Speaks on 08th September, 2022
  • USD : CPI (MoM) (Aug) on 13th September, 2022
  • INR : FX Reserves, USD on 09th September, 2022
  • INR : CPI (YoY) (Aug) on 12th September, 2022

Who’s Meeting Whom:

UltraTech Cement: To meet investors and analysts on Sept. 8.

Clean Science and Technology: To meet investors and analysts on Sept. 8.

UltraTech Cement: To meet analysts and investors on Sept. 7.

Max Healthcare Institute: To meet analysts and investors on Sept. 8.

Varun Beverages: To meet investors and analysts on Sept. 8.

Brokerage Radar:

NOMURA ON CONCOR: Upgrade to BUY, TP Rs. 918; Keep est unchanged as precise LLF quantum is difficult to determine at present; Impact on LLF quantum for CCRI is still uncertain, but unlikely to rise from present levels in near term (FY23-25F)

MS ON DRL: OW, TP Rs. 5,099; US Pegfil Approval-Small but Inaugurates US Biosim Entry; Expect gradual ramp up, with Onpro & bRituximab next products in queue; Est pegfil (excl Onpro) to be roughly $800-900m market, economics for FK/DRL may be sales potential of $50-70m

MS ON ER&D SERVICES: UW- Tata Elxsi & LTTS; Tata Elxsi/LTTS share prices are baking in 20%/16% revenue CAGRs over F22-37e, find too optimistic/leaving no upside

International Markets:

U.S & Europe:

Particulars         07th     September Chg. Chg.(%)
Nasdaq 11791.90 246.99 2.14
Dow 31581.28 435.98 1.40
FTSE 7237.83 -62.61 -0.86
CAC 6105.92 1.31 0.02
DAX 12915.97 44.53 0.35
Dow Fut.* 31588.40 7.10 0.02

Asian markets:

Particulars 08th  September Chg. Chg.(%)
SGX Nifty 17747.50 117.00 0.66
Nikkei 27992.25 561.95 2.05
Straits Times 3239.25 28.42 0.89
Hang Seng 18931.23 -113.07 -0.59
Shanghai 3242.09 -4.20 -0.13

ADR Watch:

Particulars  07th September  Chg. Chg.(%)
Dr. Reddy 53.41 0.95 1.81
HDFC Bank 63.28 1.32 2.13
ICICI Bank 22.38 0.24 1.08
Infosys 18.43 0.45 2.50
Tata Motor 28.36 0.10 0.35
Wipro 5.10 0.15 3.03

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 79.90 0.08
Brent 88.93 1.06
Gold 1727.25 -0.03
Silver 18.383 0.67

FIIs & DIIs:

Particulars 07th September 06th September
FIIs                           758.37 1144.53
DIIs -138.67 632.97

News Update:

Zee Entertainment: The company received NCLT approval to convene shareholder meet for considering, approving Sony deal. NCLT directed it to hold the shareholders’ meet on October 14, 2022.

InterGlobe Aviation: The Gangwal family, one of the promoters of InterGlobe Aviation Ltd., will offload 2.8% stake in the airline through block deal, according to Bloomberg News. Rakesh Gangwal, the co-founder of IndiGo airline, along with Shobha Gangwal and the Chinkerpoo Family Trust will offer 1.08 crore shares, it said.

LIC Housing Finance: The company appointed Ashwani Ghai as the Chief Operating Officer.

IRCTC: The company emerged as the successful bidder in sale of commercial built-up space in WTC Nauroji Nagar, New Delhi.

Zydus Lifesciences: The company announced that it has achieved a positive Proof-of-Concept in its Phase 2 clinical study of ZYIL1, in patients with Cryopyrin Associated Periodic Syndrome.

Redington India: Apple launched iPhone 14 series. It intends to manufacture it in India about two months after, according to Bloomberg. Redington is a re-seller of Apple products in India.

Aditya Birla Fashion and Retail: SEBI granted relaxation to the company from securities contracts rules in preferential allotment To Caladium Investment.

Concor: The Union Cabinet approved lowering the railway land licensing fees to 1.5%, which is expected to facilitate the disinvestment process of Concor.

Cipla: Gets U.S. FDA approval for generic version of Revlimid.

TCS: To deploy cloud-based platform at Nokia.

 Source: Moneyontrol, Livemint,, Bloomberg, Investing

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