Asian markets are trading mixed as investors focus on developments with regars to omicron and await wait for key U.S. inflation figures during the week. Nikkei is trading lower by 0.58%, Hang Seng is trading lower by 0.96% while Shanghai is trading higher by 0.40%.

Indian market closed positive during the week. Nifty and Sensex up this week by 1.00% and 1.03% respectively.

Asian markets are trading mixed as investors continue to monitor the developments with regards omicron Covid variant. Nikkei is trading lower by 0.27%, Hang Seng is trading lower by 1.25% while Shanghai is trading higher by 0.05%.

In November 21, Overall Indian Auto industry struggled to recover from sluggishness primarily led by 2W and Tractors. The Passenger Vehicle (PV) segment reported volume drop primarily owing to semiconductor shortages although demand remains strong. The Domestic 2W market continues to exhibit weakness due to subdued demand. The CV segment reported volume recovery was primarily due to lower base, higher Infra spending and increased freight movement across India while the Tractor segment performance impacted due to cyclical downturn. Our top picks are MSIL & SonaComs. MSIL is well placed to address turnaround in Indian PV market...

In the PV space, market leader Maruti Suzuki (MSIL) reported flattish performance MoM at 1.36 lakh units with company guiding for production at ~80-85% of normal levels for December 2021 vs. ~85% in November. M&M's volumes declined by 3.3% to 19,458 units while Tata Motors' decline stood at 12.3% to 29,947 units (EV sales up 10.4% MoM to 1,715 units). In the CV segment, Market leader Tata Motors (TML) reported volumes of 32,245 units, down 4.2% MoM. Ashok Leyland posted 5.4% decline to 10,480 units while M&M posted flattish volumes at 14,979 units. VECV...

IPO NOTE

We expect Hero Motocorp, Bajaj Auto, TVS Motors, Maruti Suzuki, and Ashok Leyland to perform well, supported by reasonable valuations and good medium-term growth prospects.

Growth came in across sectors

Anand Rathi Wealth Ltd is one of the leading non-bank wealth solutions firms in India and have been ranked amongst one of the three largest non-bank mutual fund distributors in India by gross...

The number of weekly average daily fliers stood at 374k (93% of the pre-covid average during Apr’19-Feb’20) in the week ended (W.E) 27th Nov’21 vs 364k in the W.E. 20th Nov’21. For W.E. 27th Nov’21, the average number of daily departures increased to 2,755 from 2,712 in the previous week, and the number of fliers per departure rose to 136 from 132.

Indian government has announced Production Linked Incentive (PLI) Scheme of Rs150bn to incentivise Pharmaceuticals Industry to enhance India’s manufacturing capabilities. The scheme will provide financial support on incremental sales (over the base year - FY20) of pharma goods, based on pre-defined selection criteria.

Microfinance sector, after sailing through one of the most prolonged and uncertain asset quality cycles since 2010, is poised to approach normalcy by H2FY22E , assuming no third-wave disturbance.

Bank credit sectoral deployment data for Oct’21 suggests MoM accretion with broadbased growth across sub-segments. Non-food credit at Rs97.6trn was up 1.2% MoM / 6.7% YoY and, consequently, YTD-FY22 growth is in positive territory at 1% vs 0.2% decline till Sep’21.

Axis Research Scorecard Report for the month of December 2021

Asian markets are trading mixed tracking weak cues from Wall Street overnight. Nikkei is trading lower by 0.66%, Shanghai is trading lower by 0.22% while Hang Seng is trading higher by 0.25%.

Economic Recovery Gains Traction in Q2FY22

Asian markets are trading higher as investors continue to assess the impact of the omicron Covid variant. Nikkei is trading higher by 0.84%, Shanghai is trading higher by 0.21% and Hang Seng is trading higher by 1.50%

Due to the second wave of the pandemic, Q1FY22 was a devastating quarter for banks as stress accumulated on the asset side, and collections and recoveries took a hit because of a complete stop in economic activity.

Asian markets are trading mixed as investors took note of China's manufacturing Purchasing Managers' Index for November came in at 50.1 vs. estimates of 49.6. Nikkei is trading higher by 0.76%, Shanghai is trading higher by 0.29% while Hang Seng is trading lower by 0.75%.