Post Market Updates 16 Nov 22

D-STREEt: VOLATILe DAy; FLAt CLOSe...!!!

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Indian equity benchmarks ended higher amid choppy trade on Wednesday. Throughout the session, the indices swung between gains and losses. The Sensex and the Nifty50 hit 52-week highs during the session boosted by gains in IT and financial shares.

Bse Sector:

Gainers: Bankex, Industrials, Capital Goods, Teck, IT, Financial Services, FMCG

Non Gainers : Metal, Utilities, Power, Commodities, Realty, Services, Oil & Gas, Energy, Healthcare, Consumer Discretionary, Consumer Durables, Auto, Telecommunication .

BEATINg tHe STREEt (Nifty):
Gainers were KtkM, CIL, DrReddy, HDFCBk, HUL, HDFC, Airtl, TCS, Infy, PwrGrd, ONGC, LT, HeroM, Wipro, SunPharma.

ExPECTATIOn BELIEd (Nifty): Non Gainers were ApolloHsp, AdniEnt, AdniPorts, Hindalco, JSWStl, BajFin, TataStl, BajFnsrv, TataMtrs, NTPC, DivisLab.

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India Daybook – Stocks in News


Berger Paints: UK Paints (India) acquires 50.092% stake in Berger Paints (Positive)

Aurobindo Pharma: Company receives an Establishment Inspection Report from US FDA for Andhra Pradesh unit (Positive)

Phoenix Mills: Company’s arm gets Rs 200 cr investment from Canada Fund (Positive)

Asain Paints: Company enters into technology tie-up with KBR (Kellogg Brown & Root) for manufacturing of Vinyl Acetate Monomer in India (Positive)

Wipro: Company signs pact with employee representatives on setting up a European Works Council (Positive)

Timken India: The company will be setting up new manufacturing facility at Bharuch (Positive)

Ircon: Co lowest bidder for Bahuti canal project work. (Positive)

NMDC: Core group of secretaries on disinvestment hold meeting relating to NMDC. (Positive)

Balrampur: Commences Commercial Production Of Industrial Alcohol At Maizapur Unit (Positive)

Bikaji: Goldman Sachs India Equity Portfolio acquired 17.45 lakh shares (Positive)

Waaree Technologies: Promoter Waaree ESS bought 4.64 percent stake in the company via open market transactions (Positive)

Hindalco: Aluminum Demand in India Remains Strong, Hindalco’s Pai Says (Positive)

Cholamandalam Financial: ICICI Prudential Mutual Fund under its various schemes bought 3.04 lakh shares (Positive)

Tera Software: The company has received work orders worth Rs 46.7 crore from Bharat Electronics (Positive)

Global Health: Nomura India Investment Fund via Mother Fund account bought 15 lakh shares (Positive)

Datamatics Global: Gets automation solutions deal from Premier Inc. (Positive)

Tata Power and Union Bank of India: Tie up to help MSME companies switch to solar (Positive)

Oil Upstream stocks: Export tax on Diesel cut to Rs 10.50/Ltr from Rs 13.0/Ltr (Neutral)

SBI: Bank signs €150 million agreement with KfW. (Neutral)

PayTM: Soft Bank to sell shares worth $215 m in Paytm via BlockDeal, base price at Rs 555/Sh (Neutral)

Coal India to Sell 50M Tons Via Auction in Oct.-March: PTI (Neutral)

FSN E-Commerce: Lighthouse India Fund III Limited offloaded 3 crore shares in Nykaa (Neutral)

Tata Motors: JLR CEO resigns for personal reasons, leaving on December 31, 2022 (Neutral)

Hind Zinc/Vedanta: HZL approves 2nd interim dividend of Rs15.50/Sh for FY23 amounting to Rs 6549.24 cr (Neutral)

HDFC: To Raise upto Rs 5500 Crores Via Bonds (Neutral)

CMS Info: Smallcap World Fund Inc bought 30.01 lakh shares in the company at an average price of Rs 333.05 per share (Neutral)

Oil upstream stocks: The government hiked the windfall tax on domestically produced crude oil to Rs 10200/Tonne from Rs 9500/Tonne.

News Headlines from Business News Agencies:

Business Standard :

• Amazon layoffs in India may be higher than other tech majors: Report

• India takes over G20 presidency for 2023, PM Modi extends invitation

• India's exports contract for first time in 2 years; imports moderate

• Meta India policy chief Rajiv Aggarwal joins Samsung in a tech policy role

• LIC's sale of RCAP debt of Rs 3,400 cr to ACRE upsets lenders, bidders

• Passenger vehicle sales could hit over 3.8 mn units in FY23: Tata Motors MD

• Consultation paper on OTT framework to come next month, says Trai

• US fines Air India $1.4 mn for 'extreme delays' in passengers refunds

• Piramal Capital withdraws insolvency proceedings against Reliance Power

• Meta India policy chief Rajiv Aggarwal joins Samsung in a tech policy role

• Tata Group to open 20 'beauty tech' outlets, in talks with foreign brands

• Indian refiners becoming wary of buying Russian oil as EU sanctions loom

• India likely to import 64% less soyabean in 2022-23: Industry body SOPA

• Over 68.5 mn I-T returns filed for FY22 so far, count expected to rise

• Britain's inflation rate rises to 41-year high at 11.1% in October

• Rishi Sunak won't sacrifice quality for speed on UK-India trade deal


Economic Times :

• L&T Infotech set to enter MSCI Global Large-cap index post merger: Nuvama Wealth

• Rupee drops in line with Asian FX, corporate dollar demand seen

• Sensex, Nifty scale all-time closing highs in choppy session

• FIIs spent over Rs 1 lakh crore in buying Zomato, ITC & 8 other stocks in Q2

• ICICI Bank hikes FD interest rates by up to 30 bps

• Task force for AVGC sector to submit report this month: I&B secretary

• Bond yields tad higher on profit-booking post 7-day price rally

• Fitch affirms Bharti Airtel's 'BBB-' rating, reflecting solid balance sheet

• Maersk to double its warehousing presence in India in next one year

• Paras Buildtech to develop retail and office project in Noida

• Elon Musk to testify at trial over his $50 bn Tesla compensation

• Centre extends DCGI Somani's tenure by another three months

• Talent pool in data storage, management set to double in coming years: survey

• ICICI Prudential MF launches Nifty Financial Services Ex - Bank ETF

• Ceat puts on hold plans to invest in new manufacturing facility for commercial vehicle tyres


Mint :

• Investors are ready to invest in Indian climate startups

• Delhi-NCR sees highest increase in housing price across India

• Rishi Sunak greenlights 3,000 UK visas for Indians

• IFSCA signs pact with RBI to supervise regulated entities

• Digital sports revenue to touch ₹4,360 crore by FY26

• Flipkart-backed health tech startup BeatO snags $33 mn in Series B round

• Subscriptions to make 60% of OTT revenue by 2030: Report

• India set to post record performance in ICAO air safety audit

• Income-tax dept conducts searches at Metropolis Healthcare in Mumbai

• KEC International wins new orders worth ₹1,294 crore

• NASA's next-generation Artemis rocket lifts off 50 years after Apollo

• ReNew Power to set up green hydrogen plant in Egypt with $ 8 bn investment

• FHRAI writes to Sebi to stop OYO from launching IPO after CCI penalty

Dow -39.09 pts ,Nsdq -174.75 pts, S&P
-32.94 pts , Bovespa -2917 pts , Ftse -18 pts , Dax -144 pts , Cac -34 pts , Crude @ $85.24 brl (-0.35), Brent @ $92.61 brl (-1.25) , Gold @ 1777.40 (+1.80), Silver @ $21.50 (-0.02), Euro @ $1.0391, JPY @ $139.36, INR @ 81.485

US GOVT. 10-YEAR YIELD : 3.72%

Today's Corporate Action, 17 Nov Ex Date :

BAYERCROP
Interim Dividend - Rs. - 100.0000
DHANUKA
Buy Back of Shares
GABRIEL
Interim Dividend - Rs. - 0.9000
IRFC
Interim Dividend
MRF
Interim Dividend - Rs. - 3.0000
ORIENTCQ
Interim Dividend - Rs. - 7.0000
PAGEIND
Interim Dividend - Rs. - 70.0000
PDSL
Interim Dividend - Rs. - 2.5000
QUESS
Interim Dividend - Rs. - 8.0000
RITES
Interim Dividend - Rs. - 4.5000
SAKSOFT
Interim Dividend - Rs. - 0.3500
SUNDRMFAST
Interim Dividend - Rs. - 3.5700
SUNDRMFAST
Special Dividend - Rs. - 2.0000
VIDHIING
Interim Dividend


Today's Key Results/Board Meetings, 17-Nov-22 :

SEACOAST
General


SEC. IN F&O BAN FOR, 17 NOV, 2022 :

1. BALRAMCHIN 2. BHEL 3. DELTACORP 4. GNFC 5. IBULHSGFIN 6. SUNTV

ADDITION : BALRAMCHIN, IBULHSGFIN
DELETION : PNB

LATe SELl-OFf DRAGs D-STREEt...!!!

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Indian equity benchmarks ended lower on Thursday as gains in constructions, oil and gas shares were offset by losses in financial and IT shares. Broader market indices mirrored the losses in headline indices.

Bse Sector:

Gainers: Capital Goods, Telecommunication, Industrials.

Non Gainers : Consumer Durables, Utilities, Auto, Power, Consumer Discretionary, IT, Metal, Healthcare, Teck, Oil & Gas, Energy, Commodities, Finacials Services, FMCG, Bankex, Services, Realty.

BEATINg tHe STREEt (Nifty):

Gainers were TataCons, AdaniEnt, LT, ICICIBk, Airtel, HDFCLife, PowrGrid, UPL, AdaniPort, AxisBk, RIL, IndusIndBk

ExPECTATIOn BELIEd (Nifty):

Non Gainers were Titan, MnM, TataMtr, AplloHsp, EchrMtr, Maruti, Hndalco, BajAuto, HDFC, DrRddy, BajFnsrv, HCLTch

Pre Market Updates

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US stocks closed lower as yields jumped on FED officials' signal that their campaign on rates are far from over. Stocks fell sharply at open but recovered large part of intraday loss. Dow closed just below flat line recovering from intraday low of more than 300 points, both S&P and Nasdaq closed 0.31% and 0.35% lower recovering from intraday cuts of almost 1.00% +.

USD index traded flat near 106.70, 10 year jumped near 3.76% and Cboe Vix declined below 24.

Crude futures declined almost 3.00% as China fears and aggressive FED rates hike fears took benchmark sharply lower, WTI fell near 82, Brent near 90.

Indian stocks fell on Thursday on global cues and weekly options expiry. IT names lost the most on cues from Nasdaq along with FMCG heavyweights but on the flip side capital goods names and RIL tried to give some support to markets. Both Sensex and Nifty closed almost 0.35% lower.

Markets may take cues from global factors and consolidate for one more day, rising US yields and fears of aggressive tightening may lead markets lower but falling crude and improving Indian macros may help Indian markets at lower levels. Participants may use weakness to buy into names that are more domestic focussed / offering value due to deep correction for long term investment.

(as on 4.15 am IST)

Stocks in News

BEL: Company signs MoU with AWEI to address needs of domestic and export markets (Positive)

Mahindra Lifespace: The company has launched its residential project - Mahindra Citadel Phase 1, at Pimpri Chinchwad, Pune.. (Positive)

UltraTech Cement: The company has commenced operation at its third Birla White Wall Care Putty plant in Rajasthan (Positive)

CSB Bank: The bank has received approval from the Reserve Bank of India for appointment of Ms. Bhama Krishnamurthy as Part-time Chairperson (Positive)

One 97 Communications: BOFA Securities Europe SA has acquired 50.26 lakh shares in the Paytm operator (Positive)

Vedanta: Board To Consider 3rd Interim Dividend On 22-November. (Positive)

Blue Dart: Announced The Opening Of 25 Retail Outlets In Tier I & II Towns As Part Of Its Expansion Plans (Positive)

TWL: Execution of the single largest order won of 24,177 wagons has started (Positive)

Alkem Labs gets US FDA nod for Vancomycin Hydrochloride (Positive)

Paint/OMCs/Logistic: Crude prices fell by more than 3 percent during the last trading session (Positive)

Fortis: IHH getting legal counsel advice on next steps. (Neutral)

Bajaj Auto: Life Insurance Corporation of India sold 2 percent stake or 56.68 lakh shares in Bajaj Auto (Neutral)

PayTM: Soft Bank to sell shares worth $215 m in Paytm via BlockDeal, base price at Rs 555/Sh (Neutral)

Coal India to Sell 50M Tons Via Auction in Oct.-March: PTI (Neutral)

FSN E-Commerce: Canada Pension Plan Investment Board bought 1.7 crore equity shares in the Nykaa (Neutral)

Oil upstream stocks: Crude prices fell by more than 3 percent during the last trading session.

Alstone Textiles: Paschim Finance and Chit Fund sold further 1.15 lakh shares in the company at an average price of Rs 286.15 per share

FSN E-Commerce: Citigroup has launched a block deal to sell shares in cosmetics-to-fashion retailer Nykaa

10th Batch scrip transfer From T+2 to T+1 from 25th Nov 2022
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A little push in investments can take markets to New 52 Week top or even life time Breakout zones.
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Today's Corporate Action
21st Nov Ex Date



MANINFRA
Interim Dividend - Rs. - 0.9000
3MINDIA
Special Dividend - Rs. - 850.0000
BALKRISIND
Interim Dividend - Rs. - 4.0000
BELLACASA
Interim Dividend - Rs. - 0.7000
COCHINSHIP
Interim Dividend - Rs. - 7.0000
EASEMYTRIP
Bonus issue 3:1
EASEMYTRIP
Stock Split From Rs.2/- to Rs.1/-
MAZDOCK
Interim Dividend - Rs. - 9.1000
NATCOPHARM
Interim Dividend - Rs. - 0.7500
OIL
Interim Dividend - Rs. - 4.5000
ONGC
Interim Dividend - Rs. - 6.7500
PETRONET
Special Dividend - Rs. - 7.0000
PRAVEG
Final Dividend - Rs. - 4.0000
TIDEWATER
Interim Dividend - Rs. - 12.0000



Today's Key Results/Board Meetings
21-Nov-22



ACHYUT
Increase in Authorised Capital;Preferential Issue of shares
ARIHANTINS
Half Yearly Results
COSPOWER
Half Yearly Results;General
GUJTHEM
Interim Dividend
PANKAJPIYUS
General
SPRAYKING
Rights Issue
TRIVENIGQ
General
UNIWSEC
Quarterly Results




Stock under F&O ban on NSE
21-Nov-22


1 BALRAMCHIN
2 BHEL
3 DELTACORP
4 GNFC
5 IBULHSGFIN
6 PNB
7 SUNTV

1 Five Star Business - Listing

Listing Date: Monday, Nov 21 2022
Issue Price: 474
NSE Symbol: FIVESTAR
BSE Script Code: 543663


2 ARCHEAN CHEMICAL INDUSTRIES LIMITED

Listing Date : Monday, Nov 21 2022
ISIN : INE128X01021
BSE : 543657 (B Group)
NSE : ACI (EQ Series)
Total Shares : 123,052,989
Face Value : ₹2
IPO Price : ₹407

#EASYTRIP #corporateaction

The board of directors of the company has fixed 22nd November 2022 as record date to finalize eligible beneficiaries for issuance of bonus shares and stock subdivision. The company board has already approved and declared bonus shares in 3:1 ratio whereas it has declared stock split in 1:2 ratio.

News Headlines from Business News Agencies: 🇮🇳

Business Standard

• Draft personal data protection Bill: Penalties may range up to Rs 250 crore
• India, EU regulators standoff over clearing houses to affect BNP to HSBC
• Govt raises maximum tenure of PSU banks' CEOs to 10 years to retain talent
• Reliance Jio rolls out 'True 5G' network service in Delhi-NCR
• Indonesian Internet firm GoTo lays off 12% of its workforce to reduce costs
• India, EU regulators standoff over clearing houses to affect BNP to HSBC
• Qualcomm doubles down on 5G access with Jio to connect 100 mn Indian homes
• LIC aims to reach a mix of 75:25 between par and non-par in individual biz
• India proposes easier cross-border data transfers under new privacy law
• Federal Bank ties up with JCB India to finance heavy equipment buyers
• Honda India Power hits new high, zooms 45% in 1 month on strong Q2 results
• Blackstone-backed Nexus files for $500 mn IPO in 1st retail REIT offer
• Tata Hitachi upbeat about growth, aims for 15-20% revenue jump in FY23
• PM says 'historic' moment as India's privately-developed rocket lifts off
• Wheat sowing up 15% to 10.14 mn hectares so far; pulses coverage dips: Data


Economic Times

• India's overall oilmeal exports up 38 pc in 2022-23
• Only 11% tech investment in deep tech startups, need higher seed funding: NASSCOM president
• Kremlin says no talk of Vladimir Putin-Joe Biden summit for now
• Rama Steel Tubes declares 4:1 bonus share issue
• Bengaluru Metro rail project to complete 175 km of track by June 2025: BMRC MD
• Hong Kong's leading crypto retail operator ceases trading as FTX fallout roils sector
• Eicher Motors appoints Vidhya Srinivasan as CFO
• RBI in final stages of retail CBDC pilot rollout
• Moody's shutting consulting business in China, cutting staff
• Fired SpaceX employees accuse company of violating labor law
• UK backs India's case for permanent UN Security Council seat
• Mphasis partners with Ashoka University for interdisciplinary lab
• Tea exports rise 14.8 pc to 140.28 mkgs in Jan-Aug period this year
• Opportunistic buying & weak dollar help RBI fill up forex coffer


Mint:

• India's forex reserves rise at fastest pace since August 2021
• IEX board to consider buyback proposal on 25 Nov
• Maruti Suzuki Alto K10 gets a S-CNG variant
• As Meta, Twitter, others carry huge layoffs, JLR announces to hire 800 techies
• Pfizer-BioNTech Omicron shot more potent against new Covid variants
• Meta fires workers for taking bribe, giving hackers access to user acc: Report
• Airtel powers Varanasi airport with Airtel 5G Plus
• Over 51,600 companies being removed from records
• SFB offers 9% returns on FDs to senior citizens for a tenure of 181 & 501 days
• Economy resilient, but sensitive to global headwinds: RBI bulletin
• Eighth Norway-India joint working group maritime meeting held
• India has adequate availability of fertilizers: Govt
• Govt releases draft of new data protection bill, proposes penalty of ₹500 cr

• India’s Economy Will Expand to $30 Trillion by 2050, Adani Says
• India Withdraws Export Tax on Steel Products Imposed in May
o Export taxes on iron ore pellets, steel products removed
• COP27 Approves Last-Ditch Deal for Historic Climate Damage Fund
• India’s Economy on Track to Grow at Around 7% in 2022-23: RBI
• India to Ease Data Storage Rules in Relief for Google, Meta (1)
o Govt may allow storage of data in specified nations
• India’s Parliament Winter Session Starts from Dec 7 to Dec. 29
• Gamers Seek Fame, Riches In World’s Next Esports Hub India
• Adani Group Says No Plan to Open Family Office Overseas
• Tata Motors to Find Place in India’s Benchmark Stock Index
o TTMT Replace Dr Reddy’s in Sensex Index from Dec. 19
• Jaguar Land Rover to Recruit Fired Twitter & Facebook Workers
• India’s Forex Reserves Jump to $544.7 Billion as US Dollar Slips
o Forex Reserves Rose $14.7b to $544.7b in Week Nov. 11
• Jet Airways Has Letters of Intent in Place for Aircraft, Engines
• India’s Jindal Poly Is Said Mull Sale of $1 Billion European Arm
• Farmers in India Boost Winter-Sown Wheat and Oilseeds Acreage
• Sugar Climbs for Third Week With Production Woes in Asia
• Equity Funds See Largest Weekly Inflows Since March, BofA Says
• Global Funds Sell Net INR7.51B of India Stocks on Friday: NSE
o Domestic funds buy net 8.90b rupees of stocks
• Sitharaman to kick-start pre-Budget meetings from Nov 21: PTI
• PM GatiShakti: Over 250 infra projects examined by NPG since Oct 2021: PTI
• ISRO to launch PSLV-C54 on Nov 26 with Oceansat-3, 8 nano satellites: PTI
• Central Depository Services (CDSL): Trade Settlement at India’s Top Depository Delayed
• Engineers India (ENGR): Gets order from Chennai Petroleum for Manali Refinery work
• Indian Energy Exchange (IEX): To consider proposal for buyback its shares on Nov. 25
• Jindal Poly Films (JDPF): Is Said Mull Sale of $1 Billion European Arm
• Maruti Suzuki (MSIL): Introduces Alto K10 with S-CNG technology
• MIC Electronics (MICEL): Wins 8.77m ruppes order for provision of video wall at SDAH station area, Kolkata
• Zomato (ZOMATO): Food Delivery Firm Says Co-Founder Gupta Has Resigned

Stocks in News



Zomato: Mohit Gupta, co-founder at Zomato has resigned. He had joined the food delivery giant's Deepinder Goyal and team, four-and-half-year ago. He decided to move on from Zomato to seek the other unknown adventures.

Archean Chemical Industries: The specialty chemical company will make its debut on the BSE and NSE on November 21. The issue price has been fixed at Rs 407 per share.

Five Star Business Finance: The non-banking finance company will list its equity shares on the bourses on November 21. The issue price has been set at Rs 474 per share.

Tata Motors: The BSE has decided to add Tata Motors in the S&P BSE Sensex index, in place of Dr Reddy's Laboratories. Also in the S&P BSE 100 and Sensex Next 50 indices, Adani Power and Indian Hotels Company will replace Adani Total Gas, and Hindustan Petroleum Corporation. The changes will be effective from December 19, 2022. In addition, Nxtdigital will be removed from S&P BSE AllCap, Consumer Discretionary, MidSmallCap and SmallCap with effect from November 22 as it is demerging into Hinduja Global Solutions as part of restructuring to separate their media and communication business.

3i Infotech: The stock will be in focus as the IT company received a contract from Hindustan Petroleum Corporation, for managing and supporting IT infrastructure at HPCL offices, refinery including data centers across pan-India. Total contract value is approximately Rs 51 crore spread across three years.

REC: The state-run power projects finance company has received consideration and accordingly transferred its entire shareholding in Gadag II-A Transmission, presently held by its subsidiary RECPDCL, along with all assets and liabilities to ReNew Transmission Ventures, the successful bidder. Gadag II-A will establish transmission system for "transmission scheme for solar energy zone in Gadag with a capacity of 1,500 MW in Karnataka as a Part A Phase-II.

Indian Energy Exchange: The company said the board of directors will meet on November 25 to consider share buyback proposal.

Engineers India: The company has received order from Chennai Petroleum Corporation for overall project management & EPCM services for OHCU revamp, CDWU and related off-site facilities for Group-II LOBS project at Manali refinery.

Flows into NRI deposits surge in April-Sept, but outstanding amount falling
The flow of money into non-resident Indian (NRI) deposits improved to $2.78 billion in April-September this year, over $1.74 billion in April-September 2021, showing the effect of sops like easing limits on interest rate. However, the streak of decline in outstanding NRI deposits continued in the six months of 2022-23. They fell to $133.6 billion in September, from $139 billion in March and $141.55 billion a year ago. They also shrunk from $134.68 billion in August, revealed the Reserve Bank of India (RBI) data. State Bank of India Chairman Dinesh Khara told Business Standard while flows into deposits have increased, some funds (from deposits) have been used for purchases during the festival season — one of the reasons for the dip in outstanding deposits. In July, the RBI took steps to enhance fresh inflows into NRI deposit accounts. These sops were the easing of cap on interest rate on Foreign Currency Non-Resident (Bank), or FCNR(B), and Non-Resident External (NRE) deposits, and exemption from maintaining cash reserve ratio and statutory liquidity ratio on incremental deposits until November 4.

Land deals surge over threefold in first nine months of 2022: Report
Nearly 68 land deals, accounting for 1,656 acres, were registered in the first nine months of this calendar year in the top 8 cities, according to a report by ANAROCK research. Around 20 land deals for 925 acres were closed In the corresponding period last year. The top 8 cities include National Capital Region, Mumbai Metropolitan Region, Bengaluru, Hyderabad Pune, Chennai, Kolkata, and Ahmedabad. Out of the 68 deals, nearly 40 deals accounting for over 590 acres, was proposed for residential development by the developers and entities. Over 147 acres in four separate deals is reserved for industrial and logistics parks, and warehousing purposes, four deals for over 119 acres for data centres, and approximately 26 acres in four separate deals for commercial development, said the report.

No prospect of recession in India, economy to grow at 6-7 pc: Rajiv Kumar
India will still grow at 6-7 per cent in the next 2023-24 fiscal even as the economy may be affected by uncertain global conditions, former Niti Aayog Vice-Chairman Rajiv Kumar has said amid growing fears of the world slipping into a recession. Kumar further said there is a synchronized downturn in the US, Europe, Japan and also in China and that could take the global economy into a recession in the coming months. "Thankfully, there is no such prospect of recession in India, because although our growth may be negatively affected by the global conditions, we will still manage to grow at 6-7 per cent in 2023-24," he told PTI in an interview. The World Bank on October 6 projected a 6.5 per cent growth rate for the Indian economy for 2022-23, a drop of one percentage point from its June 2022 projections, citing the deteriorating international environment, while IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India.

Commodity play
Gold – Rs 52764/10gm, Silver – Rs 61178/kg, Brcrude – Rs 6614/barrel, Degumsyoil – Rs 1296/10kg, Copper – Rs 678/kg.

Corporate News
NCLAT allows Jindal Stainless to bid for debt-ridden Rathi Super Steel.

ONGC to reverse oil, gas output dip; eyes 18% jump in production in FY25.

NMDC to spend Rs 900 cr to increase iron production from mines in Karnataka.

SGX Nifty indicates a negative start to Indian markets trading at 18253 levels down by 94 points or 0.51%. Dow Futures were also trading in red down by 0.33%.

Sector in focus – Metals, Infrastructure, Banks & Chemicals.

INDIA TO GROW FROM $3.4 TRILLION TO $7.4 TRILLION IN 5 YEARS BY DEEPAK PAREKH. #gdp #marketcap #trillion #dollar #economy #alliesfin #stockmarket

Mkt. Updates :

*SGX Nifty +56 pts (18250) from last trade 18194 ,*

Nikkei +234 pts ,
Hangseng +99 pts ,
Around @ 7.02am .

Dow -45.41 pts ,Nsdq -121.55 pts, S&P
-15.40 pts , Bovespa +838 pts , Ftse -8 pts , Dax -51 pts , Cac -10 pts , Crude @ $79.73 brl (+0.00), Brent @ $87.79 brl (+0.17) , Gold @ 1739.90 (+0.30), Silver @ $20.885 (+0.001), Euro @ $1.0243, JPY @ $142.07, INR @ 81.705


US GOVT. 10-YEAR YIELD : 3.82%


*Today's Corporate Action, 22 Nov Ex Date :*

ASMTEC
Interim Dividend - Rs. - 1.0000
CONCOR
Interim Dividend - Rs. - 3.0000
EIDPARRY
Interim Dividend - Rs. - 5.5000
GESHIP
Interim Dividend - Rs. - 7.2000
INGERRAND
Interim Dividend - Rs. - 7.0000
INGERRAND
Special Dividend - Rs. - 23.0000
IPCALAB
Interim Dividend - Rs. - 4.0000
MANAPPURAM
Interim Dividend - Rs. - 0.7500
MORGANITE
Interim Dividend - Rs. - 9.0000
NXTDIGITAL
Spin Off     
PGIL
Interim Dividend - Rs. - 2.5000


*Today's Key Results/Board Meetings, 22-Nov-22 :*

HARISH
General    
NITCO
General;Quarterly Results    
PTC
Quarterly Results;Audited Results;Final Dividend  
SIEMENS
Audited Results;Final Dividend    
TRINITYLEA
Preferential Issue of shares    
VEDL
Interim Dividend

   
*SEC. IN F&O BAN FOR, 22 NOV, 2022 :*

*1. ESCORTS 2. GNFC 3. IBULHSGFIN 4. SUNTV 5. PNB*

*ADDITION : ESCORTS*
*DELETION : BALRAMCHIN, DELTACORP, BHEL*


*Today's Alert :*

*RBI to Conduct Auction of SDLS BONDS for INR 149.63 Billion*