Time to be cautious in the stock market?

Good Morning Everyone, The Nifty had a short week in India last week, but The international markets were open and the US market hit another high. With that positivity in the world market, the Nifty is also set for a positive open today.


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Global Markets:

Wall Street's main indices rose 0.2-0.6 percent to record highs in a broad-based rally Friday after data showed strong jobs growth in the US in October. European equities ended flat despite a positive update from Pfizer on the COVID-19 pill and amid persistent optimism about earnings season. The pan-European STOXX 600 ended flat but clocked a weekly gain of 1.7 percent -- its fifth consecutive week in the green.


Asian shares were lower this morning following China’s trade data released over the weekend. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.23 percent. Japan's Nikkei index lost 0.16 percent. Chinese blue chips were flat. And South Korea’s Kospi declined over 1 percent. Elsewhere, Australian shares declined over 0.16 percent.


Indian Market:

Trends on the SGX Nifty indicated a flat start as it declined 4 points, or 0.02 percent, to 17,994. However, it is important for Nifty to stay above this to ensure more up move, especially since the FIIs have been selling big in the last 2 weeks. Any breach of 17900 downwards, can see more fall in coming days.

Strong inflows in new fund offers (NFOs) and a stable SIP book helped equity mutual funds attract a net investment of nearly Rs 40,000 crore in the three months ended September 2021, a two-fold growth from the preceding quarter.


One97 Communications-owned Paytm will launch its initial public offering for subscription in the coming week. This is the largest-ever public issue in the history of Indian capital markets. Before this, state-run coal mining company Coal India had the biggest IPO of more than Rs 15,000 crore in October 2010. The price band for the offer has been fixed at Rs 2,080 to Rs 2,150 per equity share.


Results Today

Britannia Industries, Aurobindo Pharma, Sobha, 3i Infotech, Action Construction Equipment, Balrampur Chini Mills, Elgi Equipments, GVK Power & Infrastructure, HG Infra Engineering, KRBL, MM Forgings, PTC India Financial Services, Pricol, RSWM, Shankara Building Products, Shyam Metalics and Energy, Talbros Automotive Components, Ujjivan Small Finance Bank, Vijaya Diagnostic Centre, V-Mart Retail, and Wockhardt will release September quarter earnings on November 8.


FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 328.11 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 38.25 crore in the Indian equity market on November 4


Stock Specific News:

Divi's Laboratories | The company's Q2 FY22 profit of Rs 606.46 crore was higher than estimates and revenue of Rs 1,987.51 crore was also slightly above market expectations.


Steel Strips Wheels | The company got new orders of about Rs 85 crore from the Western Hemisphere.


SJVN | The company has bagged a 100 MW grid-connected solar PV power project from Punjab State Power Corporation Ltd through a tariff-based competitive bidding process, on the 'Build, Own and Operate model.


GAIL (India) | National Company Law Tribunal has granted approval for the acquisition of 26 percent equity stake of Infrastructure Leasing & Financial Services (IL&FS) Group by GAIL (India) in ONGC Tripura Power Company.


Grasim Industries | The company has successfully commissioned the Chloromethane project at Vilayat Unit, Gujarat, having a capacity of 150t per day or 50,000t per annum. This will lead to an additional annualized revenue of around Rs 400 crore.


NMDC | The company has fixed prices of iron ore with a lump ore price at Rs 5,950 per ton and fines rate at Rs 4,760 per ton.


Coal India | The company's plan to raise prices, which has been pending for some time, is likely to be delayed further as Coal India has failed to secure the nod of key stakeholders amid an outstanding of Rs 24,000-25,000 crore pushing the company in a tough situation, as per reports.


Tata Motors | Tata Motors-owned Jaguar Land Rover expects the semiconductor shortage situation to gradually start recovering in the remaining part of the current financial year, reports said.


Reliance Industries | The company said that a recent report in a newspaper has led to unwarranted and baseless speculation in social media regarding the Ambani family's plans to partly reside in Stoke Park, London. RIL clarified that the Chairman and his family have no plans whatsoever to relocate or reside in London or anywhere else in the world.


Sun TV Network | The company reported a higher consolidated profit at Rs 395.55 crore in Q2FY22 against Rs 335.02 crore in Q2FY21, revenue jumped to Rs 848.67 crore from Rs 768.69 crore YoY.


Dhanlaxmi Bank | The bank reported a lower net profit at Rs 3.66 crore in Q2FY22 against Rs 14.01 crore in Q2FY21. Net interest income increased to Rs 90.66 crore from Rs 88.66 crore YoY.


Andhra Petrochemicals | The company reported a higher profit at Rs 86.48 crore in Q2FY22 against Rs 6.9 crore in Q2FY21. Revenue jumped to Rs 242.65 crore from Rs 133.72 crore YoY.


Suven Pharmaceuticals | The company reported a higher consolidated profit at Rs 96.98 crore in Q2FY22 against Rs 74.08 crore in Q2FY2. The pharma firm's revenue increased to Rs 300.98 crore from Rs 237.38 crore YoY.

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