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

Asian stocks rose Tuesday after U.S. equities extended a winning streak on optimism that the economic recovery can weather inflation risks. The dollar and Treasuries held declines. Shares advanced modestly in Japan, South Korea and Australia. U.S. futures slipped after the S&P 500 eked out a gain to cement its longest winning run since 2017. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 18,122, as of 8:05 a.m.

Economic Calender:

  • INR: CPI (YoY) (Oct) on 12th November, 2021.
  • INR: Manufacturing Output (MoM) (Sep) on 12th November, 2021.
  • USD: PPI (MoM) (Oct) on 9th November, 2021.
  • USD: Core CPI (MoM) (Oct) on 10th November, 2021.

Earnings: Mahindra & Mahindra, Power Grid Corporation of India, Bharat Heavy Electricals Ltd, Indraprastha Gas, MRF, Bosch, Max Financial Services, IDFC, Petronet LNG, Astrazeneca Pharma India, Procter & Gamble Health, Godrej Agrovet, CreditAccess Grameen, HEG, Hindustan Copper, Jet Airways (India), Powergrid Infrastructure Investment Trust, Amrutanjan Health Care, Greenply Industries, Kennametal India, Kesoram Industries, Gulshan Polyols, Mangalore Chemicals & Fertilizers, Manali Petrochemical, Mishra Dhatu Nigam, Nava Bharat Ventures, NCC, Nirlon, Olectra Greentech, OnMobile Global, PDS Multinational Fashions, Redington (India), Sharda Motor Industries, Somany Home Innovation, Tata Investment Corporation, VST Tillers Tractors


Britannia Q2FY22 (Consolidated, QoQ): Revenue up 6% at Rs 3,607.37 crore Vs Rs 3,403.46 crore Net profit down 1% at Rs 384.22 crore Vs Rs 389.55 crore Ebitda up 1% at Rs 558.33 crore Vs Rs 553.78 crore Margins at 15.5% Vs 16.3%.

Aurobindo Pharma Q2FY22 (Consolidated, QoQ): Revenue up 4% at Rs 5,941.92 crore Vs Rs 5,702 crore. Net profit down 9% at Rs 697 crore Vs Rs 770 crore. Ebitda down 2% at Rs 1,186.7 crore Vs Rs 1,209.4 crore. Margins at 20% Vs 21.2%. EPS at Rs 11.89 per share Vs Rs 13.14. Approved second interim dividend of Rs 1.50 per equity share

Brokerage Radar:

CLSA ON SBI: Maintain buy at the price of Rs 576 for the target price of Rs 700. Ad revenue up 40% YoY, subscriptions lagged & an attractive valuation. Co does not see any major impact from NTO-2. Co is guiding for double-digit subscription growth and & pay out 50% of its profit.

JPMORGAN ON BRITANNIA: Maintain overweight at the price of Rs 3717 for the target price of Rs 4000. Earnings miss on significant COGS inflation. Revenue growth supported by continued market share gains steep raw material inflation weighs on margin. Price hikes & cost measures in place to support profitability ahead.

International Markets:

U.S & Europe

Particulars 8th Nov Chg Chg(%)
Nasdaq 15,982.36 10.77 0.07
Dow 36,432.22 104.27 0.29
FTSE 7,300.40 -3.56 -0.05
CAC 7,047.48 6.69 0.10
DAX 16,046.52 -7.84 -0.05
Dow Fut.* 36,249.00 -64.00 -0.17

Asian markets:

Particulars 9th Nov Chg Chg(%)
SGX Nifty 18,122.00 -15.50 -0.09
Nikkei 29,533.32 26.27 0.09
Straits Times 3,262.75 -1.15 -0.04
Hang Seng 24,848.94 85.17 0.34
Shanghai 3,499.89 1.26 0.04

ADR Watch:

Particulars 8th Nov Chg Chg(%)
Dr Reddy 64.83 1.43 2.26
HDFC Bank 71.98 0.96 1.35
ICICI Bank 21.04 0.40 1.94
Infosys 23.44 0.65 2.85
Tata Motor 34.08 1.32 4.03
Wipro 9.20 0.23 2.56

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.02 -0.59
Brent 83.52 -0.20
Gold 1825.30 -0.15
Silver 24.488 -0.22


Particulars 8th Nov 4th Nov
FIIs -860.65 -328.11
DIIs 1911.77 38.25

News Update:

Reliance Industries: Reliance Eagleford Upstream Holding LP has signed agreements with Ensign Operating III LLC to divest interest in certain upstream assets in the Eagle Ford Shale play in Texas, U.S. The sale is at a consideration higher than the current carrying value of the assets. With this transaction, the company has divested all its shale gas assets and has exited from the shale gas business in North America.

Cadila Healthcare: Zydus Cadila has received an order to supply one crore doses of ZyCoV-D, a Plasmid DNA vaccine, to the Government of India at Rs 265 per dose and the needle-free applicator being offered at Rs 93 per dose, excluding GST.

Future Retail: NCLT Mumbai has granted a stay on the meeting of the company’s creditors and shareholders. Future Retail had approached NCLT seeking to defer the meetings between November 26-30. The company’s creditors and shareholders were scheduled to meet on November 9-10 to approve the scheme of arrangement with Reliance Retail Ventures, Reliance Retail and Fashion Lifestyle.

Route Mobile: The company launched its QIP issue on Monday and approved the floor price of Rs 1,949.24 per share. The floor price is at a discount of 1.93% to Monday’s closing price.

Vedanta: Delisting of American Depositary Shares, representing equity shares, from New York Stock Exchange will become effective close of trading on NYSE on November 8, 2021.

JBM Auto: The company has received prestigious order for supply, operation and maintenance of 200 air-conditioned fully built low floor electric buses.

Motherson Sumi Systems:The company’s board of directors gave approval to raise up to Rs 1,000 crore through the issuance of Non-Convertible Debentures.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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