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

Stocks rose Wednesday bringing some relief for markets from the concerns about tightening monetary policy. Shares climbed in Japan, South Korea and Australia, while U.S. equity futures advanced. The S&P 500 closed near session highs. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.25% to 17,302.50 as of 7:05 a.m. Elsewhere, oil trimmed a sharp drop amid geopolitical tensions. Bitcoin was trading around $44,000.

Economic Calendar:

  • INR: RBI Credit Policy on 10th February, 2022.
  • INR:  M3 Money Market Supply on 10th  February 2022.
  • USD: Federal Budget Balance on 11th February, 2022.
  • USD: API weekly crude on 9th February, 2022.

Earnings: Power Grid Corporation Of India FSN E-Commerce Ventures Tata Power Co. Steel Authority of India Berger Paints India ACC Bosch Aurobindo Pharma Abbott India GMR Infrastructure BASF India Nuvoco Vistas Corporation Indiabulls Housing Finance Petronet LNG SKF India Procter & Gamble Health Rail Vikas Nigam Shyam Metalics and Energy Engineers India HEG EPL DCB Bank Solara Active Pharma Sciences Hitachi Energy India GOCL Corporation Gufic Biosciences Gulf Oil Lubricants India Ingersoll-Rand (India) Jindal Stainless (Hisar) Kirloskar Oil Engines Nirlon Prestige Estates


Bharti Airtel: (Consolidated, QoQ) Revenues up 5.4% at Rs 29,866.6 crore Vs Rs 28,326.4 crore Net profit down 26.8% at Rs 829.6 crore Vs Rs 1,134 crore  EBITDA up 6.3% at Rs 14,905 crore Vs Rs 14,018 crore  EBITDA margins at 49.9% vs 49.5% (Bloomberg Estimate: 49.6% )

Jindal Steel & Power: Q3FY22 (Consolidated, QoQ) Revenue down 8% at Rs 12,524.86 crore Vs Rs 13,611.71 crore (Bloomberg estimate: Rs 11,974.6 crore) Net profit down 37% at Rs 1,621.68 crore Vs Rs 2,583.90 crore (Bloomberg estimate: Rs 1,791.7 crore) Ebitda down 28% at Rs 3,310.18 crore Vs Rs 4,594.12 crore (Bloomberg estimate: Rs 3,594.8 crore) Margin at 26.4% Vs 33.8%.

NMDC: Q3FY22 (Standalone, QoQ) Revenue down 13.5% at Rs 5,873.77 crore Vs Rs 6,793.51 crore Net profit down 12.4% at Rs 2,049.67 crore Vs Rs 2,340.92 crore Ebitda down 16.1% at Rs 2,612.4 crore Vs Rs 3,114.57 crore Margin at 44.5% Vs 45.8%

IRCTC Q3FY22 (YoY) Revenue at Rs 540.21 crore Vs Rs 224.37 crore (Bloomberg estimate: Rs 518 crore) Net profit at Rs 208.80 crore Vs Rs 78.08 crore (Bloomberg estimate: Rs 194.3 crore) Ebitda at Rs 279.18 crore Vs Rs 94.63 crore (Bloomberg estimate: Rs 248.1 crore) Margin at 51.7% Vs 42.2% (Bloomberg estimate: Rs 47.89 crore) Declared an interim dividend of Rs 2 per share

Brokerage Radar:

INVESTEC ON REDINGTON: Buy, TP cut to Rs 185 from Rs 190 Q3 a defining qtr on many counts i) marks a significant leadership transition ii) Co’s scale & dominance continues to aid margins iii) Q3 appears to be start of working capital normalization.

CREDIT SUISSE ON GUJARAT GAS: Review CS Neutral, TP Rs 635 Toughest qtr behind & margins looking strong in 4Q22 Despite a 3Q miss, increase FY22 EPS by 9% GGAS has capped Morbi vol to 5.5mmscmd & non-Morbi to 2mmscmd & with reduction in spot LNG prices, margins have shot up in 4Q.

NOMURA ON BHARTI AIRTEL: Buy, TP Rs 855 Good 3Q; higher ARPU drives market share gains; better show from Homes & Africa Among 3 prvt telcos, co’s rev & subscriber market share inched up by 65bp and 45bp q-q, respectively Subscriber mix continues to improve

International Markets:

U.S & Europe

Particulars 8th  Feb Chg Chg(%)
Nasdaq 14,194.46 178.79 1.28
Dow 35462.78 371.65 1.06
FTSE 7,567.07 -6.4 -0.08
CAC 7,028.41 19.16 0.27
DAX 15,242.38 35.74 0.24
Dow Fut.* 35529.2 66.4 0.19

Asian markets:

Particulars 9th  Feb Chg. Chg(%)
SGX Nifty 17,326.50 67 0.39
Nikkei 27,530.82 246.3 0.9
Straits Times 3,405.69 3.95 0.12
Hang Seng 24,770.56 441.07 1.81
Shanghai 3,460.20 7.57 0.22

ADR Watch:

Particulars 8th  Feb Chg. Chg.(%)
Dr Reddy 57.26 -0.26 -0.45
HDFC Bank 67.37 -0.01 -0.01
ICICI Bank 21.4 0.22 1.04
Infosys 22.89 0.42 1.87
Tata Motor 32.99 0.19 0.58
Wipro 7.54 0.1 1.34

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 74.70 -0.03
Brent 90.96 0.20
Gold 1829.05 0.06
Silver 23.288 0.38


Particulars 8th   Feb 7th   Feb
FIIs -1967.89 -1157.23
DIIs 1115.00  -1376.49 

News Update:

Bharti Airtel: The company has approved issuance of debentures, bonds etc. up to Rs 7,500 crore in one or more tranches.

Vedanta: The company concluded review of current corporate structure and said that the current structure is optimal. Company won’t undertake any corporate restructure including spin offs.

Thermax: The company has agreed to make an investment in Exactspace Technologies for Rs 9,99,84,208 by subscribing to 1,921 Cumulative Convertible Preference Shares. It will hold o 15.17% stake in Exactspace Technologies.

Lupin: The company has eceived approval from the United States Food and Drug Administration (FDA) for itsvAbbreviated New Drug Application (ANDA), Arformoterol Tartrate Inhalation

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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