♦️News & Impact♦️

 ♦️News & Impact♦️

· Expects market to open on a weak note on account of sharp decline in the global market, continued FIIs selling and 7-year high oil price. Asia, Europe and US market fell by 1-3% concern of US 10-year bond spiked to 2-year high and investors brace for tighter monetary policy. In the domestic front, rising oil price (Brent crude nearly 7-year high of $88/bbl) and both FIIs and DIIs were net sellers Rs1255cr and 220cr respectively yesterday. FIIs were net sellers over Rs5K during the month of January. However, stock specific action may continue on account of good quarterly results and hope of favorable Union Budget. US Dow Future is up 55 points or 0.1% while SGX Nifty is flat to negative.

· US stocks started the holiday-shortened week lower, with the 10-year US Treasury yield jumping to its highest intraday level in two years as an earnings miss by Goldman Sachs (GS) earnings miss weighed on the financial sector. S&P 500 dropped 1.8%, the Nasdaq Composite slumped 2.6%, Russell 2000 Index slipped 3% and the Dow Jones sank 1.5%. The 10-year US Treasury yield jumped 10 basis points to 1.88%, its highest level in two years. Yields closed at 1.34% on Dec. 3. Microsoft agreed to acquire videogame maker Activision Blizzard for $68.7 billion.

· European stocks ended lower after the 10-year US Treasury yield rose 10 basis points to more than 1.88%, its highest intraday level in two years. UK, Germany and France Index fell nearly 1% each.

· A global selloff in stocks continued in Asia on Wednesday following a surge in Treasury yields as the prospect of Federal Reserve monetary tightening to fight high inflation weighs on markets. Shares fell in Japan, Australia and South Korea (down 1% each).

· Oil extended gains from the highest close since 2014 at $88/bbl after a key pipeline running from Iraq to Turkey was hit by an explosion, taking out crucial supply from an already tight market.

· Gold held at $1814/ounce the previous day’s loss as bond yields climbed on speculation that the Federal Reserve will be more aggressive in tightening monetary policy to contain decades-high inflation.

· Actionable – Tata Elxsi, Alok Textiles, Bajaj Finance, Tata Motor, Trident

· Brokers Radar – Morgan Stanley TGT on Bajaj Finance at 9060, Credit Swiss TGT on Bajaj Finance at 8000

· Results in US – Morgan Stanley, Procter & Gamble, Alcoa and United Airlines

· Results - Aptech, CCL Products, Bajaj Auto, Ceat Ltd, JSW Energy, L&T Infotech, LIC Housing, Mastek, Oracle Finance (OFSS), Nelco, Saregama, Rallis India, Sterlite Tech, Syngene International, Tata Communication, Tata Investment and Tejas,

· Events - MedPlus Healthcare to complete Anchor investors, TCS dividend Rs7, Anand Rathi Rs5, Ages Tech IPO open today with price band between 166-175, CCES meeting at 101am

· Market Summary – Bajaj Finance and Tata Elxsi announced strong Q3 results. Reliance Buys Majority Stake In Robotics Startup Addverb, Lupin Acquires A Portfolio Of Brands From Anglo-French Drugs & Industries, Nazara acquires majority in ad tech company Datawrkz , Tata Motors Announces Marginal Hike In Price Of Passenger Vehicles, Max Healthcare To Invest $450 Million To Double India Capacity, NTPC to raise $750 million in foreign currency loans, EaseMyTrip and Flybig announce partnership, Dixon Technologies forms JV to manufacture 'boAt' audio devices, ICICI Securities announced impressive Q3 results.

· Reliance Industries has bought a majority stake worth up to $132 million (nearly Rs 980.2 crore) in a robotics startup and Reliance Jio Infocomm: Prepaid Rs30791 cr to India Govt to Clear All Deferred Spectrum Liabilities Acquired Prior to March 2021 – positive

· Prestige Estates, has announced its updates on real estate operations for the quarter ending 31st December 2021 & 9MFY22. During Q3FY22, The Group has registered highest ever quarterly sales of Rs4267.6cr, up 111% YoY and has clocked highest ever collections of Rs2431.6cr, up 70% YoY, - positive

· Tata Motor - Rakesh Jhunjhunwala has raised his stake in India's leading automaker Tata Motors marginally by 0.07% to 1.18% during the quarter ending December (media report)- positive

· Hero Motocorp: The company will make a strategic investment in Gogoro Inc. raising the oversubscribed private investment in public equity deal from $257 million to $285 million. Zee Learn: The company has appointed Anish Shah as the Chief Financial Officer with immediate effect.

· JK Paper: The company has commenced commercial production of its new Packaging Board line at Unit - CPM, Gujarat. Its new line will add 1,70,000 TPA capacity of Virgin Fibre Board taking company's total capacity of Packaging Board to 3,00,000 TPA.- Positive

· Sharat Industries: The company has approved a rights issue of not more than Rs 50 crore. - positive

· Lupin has acquired several brands from Anglo-French Drugs & Industries Limited for a lump sum of Rs 325 crore. The acquisition would enable addition of established brands especially in the vitamins, minerals and supplements category – positive

· Raymond signed a binding term sheet for joint redevelopment of residential project in the western suburban district of Mumbai. The project is estimated to have, in aggregate, revenue potential of around Rs.2,000 crore over a period of next 5 years. – positive

· Shriram Properties: The company reported strong quarterly performance with sustained strong pre-sales volume in Q3. It reported quarterly sales value at Rs.415 crores in Q3, compared to around Rs.340 crores sequentially. Total collections for the quarter were around Rs.337 crores in Q3, up 21% YoY. – positive

· Shalimar Paints: Hella Infra Market, the parent company of Infra.Market, will invest Rs270cr through a combination of equity and debentures in Shalimar Paints. - positive

· Schaeffler India approved Sub-division of Equity shares of the Company from One Equity Share having face value of Rs10/- each into Five Equity Shares having face value of Rs2/- each fully paid up.- Positive

· Inox Wind Plans To Offer Up To Rs 400 Crore Of Shares In Inox Green IPO – Positive for Inox Wind

· Tata Motors announces marginal hike in prices of passenger vehicles from January 19 owing to rising input costs. Average increase of 0.9% to be implemented depending on the variant and model.- positive

· Max Health intends to invest $450 million over four years to double its capacity in India. Company is entering a 'huge asset creation cycle in the next two to three years'. Max Healthcare to continue its focus on medical tourism.- positive

· NTPC will raise $750 million as external commercial borrowing to fund capital expenditure and refinance its existing loans. It has invited banks and financial institutions to place their offers to the company.- positive

· IFB Agro Industries -The company has approved an investment of up to Rs 40 crore in IFB Refrigeration for a minority stake.- positive

· Indian Energy Exchange: Has executed a share purchase agreement between IOC and Indian Gas Exchange, subsidiary of the IEX, for a sale of 4.93% stake in IGX to IOCL consisting of 36,93,750 equity shares,

· having a face value of Rs 10 each.- positive

· Nesco: Will pursue process of voluntary liquidation of its wholly owned subsidiary Nesco Hospitality.- positive

· Nazara Technologies has entered an agreement to acquire a 55% stake in programmatic advertising and monetization company Datawrkz valuing the company up to Rs225 Cr - positive.

· EaseMyTrip has announced an exclusive partnership with Flybig, India's newest regional airline. Through this partnership, Flybig's airline tickets will be exclusively sold by EaseMyTrip.- positive

· Mastek opens new office in Romania to expand strategic growth plans in Europe – Positive

· Ion Exchange (India) bags contract of Rs137cr from Numaligarh Refinery – positive

· Servotech power secures oxygen concentrator project worth Rs 7cr from UPMSC – positive

· Newgen Software Tech to acquire 100% stake in 'Number Theory Software' – positive

· DP Abhushan to open new retail jewellery showroom in Rajasthan on January 22 – positive

· Aegis Logistics approved the sale of entire equity holding of 1 lakh equity shares of Rs10/- each of Konkan Storage Systems (Kochi) Private at a fair value of Rs18.5/- per equity share.- Long term positive

· Kotak Mahindra Bank has introduced the Same Day Settlement (SDS) feature for merchants for payments received on its Point of Sale (PoS) terminals.- positive

· Nandan Denim Limited Board to consider Bonus Issue on Feb 10, 2022 board meeting – positive

· Manappuram Finance to issue NCDs aggregating to Rs800cr on private placement basis – positive

· PNB raises Rs1,971cr through allotment of Basel III Compliant AT-1 bonds

· Dixon has entered into JV Agreement with Imagine Marketing Pvt Ltd for its brand "boAt". The proposed JV Company will be 50% owned by Dixon and 50% owned by Imagine. The proposed JV Company will undertake design & manufacturing of Wireless Audio Solutions in India & the JV partners will co-invest in the evolving Indian mobile accessory market – positive

· Telecom subscriber (Positive for Bharati and Reliance) - Bharti added as many as 17.9 lakh active subscribers in November, compared to its one-year average of 22.2 lakh. Reliance Jio gained 11.4 lakh such users, compared with its one-year average of 32.6 lakh. Vodafone Idea as many as 27.5 lakh users migrated out of its network in November compared with 7.5 lakh in September and 14.1 in October. Its one-year average subscriber loss stood at 21.4 lakh.

· PTC Industries has announced the allotment of 20 hectares (50 acres) of land by UPEIDA to PTC’s wholly owned subsidiary Aerolloy Technologies Limited (ATL) in the Lucknow node of the UP Defence Industrial Corridor.- positive

· Tata Elxsi reported strong Q3 results. Company reported Q3 net profit Rs151cr (up 44% YoY) – Bloomberg expectation Rs69.7cr and Income Rs635cr (up 33% YoY) – Bloomberg expectation Rs317cr

· Shakti Pumpa Q3 net profit Rs14.8cr (down 44% YoY), Ebitda Rs27.3cr (down 45% YoY), Ebitda margin at 10.2% vs 15.2% (YoY) and income Rs268cr (down 16% YoY) - Avoid

· Newgen Software Q3 Income Rs200cr (up 8% YoY), Ebit Margin 32.2% vs 22%, Ebit Rs65..1cr (up 50.6% YoY) and net profit Rs47.8cr (up 28% YoY)- good results

· DCM Shriram announced dividend Rs5.2 a share

· ICICI Securities - 3QFY22 – Beat on revenue - MTF book and distribution income drives the performance - ISEC reported 3QFY22 revenue at Rs940cr (better than estimates) up 52 YoY Retail Equity and Allied business revenue grew by 35% YoY and 6% QoQ Rs530cr. MF distribution revenues grew by 54% YoY to Rs96.6cr YoY increase of 31% in MF AUM and 45% in Equity AUM and SEC reported PAT at INR 3.8b (better than expectations) –42%/8% YoY/QoQ growth.

· Bajaj Finance announced strong Q3 results. Company reported Q3 Net profit Rs2125cr (up 85% YoY) – expectation Rs1824cr, provision Rs1051cr vs 1300cr – expectation Rs1150cr, GNPA 1.73% vs 2.45% (QoQ), NPA 0.78% vs 1.1% (QoQ), NII Rs6000cr (up 78.6% YoY) – expectation Rs4440cr.

· Network 18 Q3 income Rs1657cr (up 16.5% YoY), Operating profit Rs373cr and PBT Rs337cr (up 31% YoY)

· LTTS Q2 revenue of $225.1mn, CC rev growth at 4.2% QoQ, 100bps below our estimate, reported growth of 3.5% QoQ - $227mn, Maintained FY22 USD revenue growth guidance of 19-20%, in-line with expectations, EBIT margin in-line at 18.6% (+20bps QoQ) vs 18.4% - expectation 18.6%, PAT of Rs2.50bn, +8% QoQ and 5% below of our estimate due to lower growth and other income and Dividend announced of Rs10/share.

· Trident: The company reported highest every quarterly revenue in Q3 at Rs 1,961.12 crore, 17.2% higher on a sequential basis. Net profit fell 8.6% QoQ and stood at Rs 209.1 crore. EBIDTA for the quarter stood at Rs 4,06.34 crore which translates into 20.7% margin. - positive

· Just Dial Q3 net profit Rs19.4cr (down 41% YoY) and income Rs187.5cr (down 2%.2% YoY)

· Alok Textiles Q3 net loss Rs0.1cr (down 99% YoY) and income Rs2142cr (up 12% YoY)

· DCM Shriram: The company reported higher consolidated profit at Rs349.79cr in Q3FY22 against Rs253.45cr in Q3FY21. Revenue rose to Rs2,790.78cr from Rs2,158.74cr yoy.

Best Regards,