Page 2 - Jefferies
After Morgan Stanley and JP Morgan, now Jefferies turns bullish on RIL
RIL is a key beneficiary of energy inflation, with every $1 per barrel improvement in annualised refining margins adding an estimated $400-450 million to RIL's consolidated Ebitda, Jefferies said
 "After Morgan Stanley and JP Morgan, now Jefferies turns bullish on RIL")
5G auction, flat subscriber growth may weigh on Airtel, Voda Idea stocks
With organic cash flow, ongoing rights issue, strategic stake sale, improved market structure in India wireless, and easier 5G spectrum payment terms, Bharti remains well-placed to compete with R-Jio
 "5G auction, flat subscriber growth may weigh on Airtel, Voda Idea stocks")
UBS expects retail flows into equity markets to slow amid rising rates
Meanwhile, the $23 billion net selling by FIIs (equity) in the Indian market year-to-date (YTD), is, when adjusted for FII AUM, the most intense in over a decade-surpassed only by the GFC, UBS said
 "UBS expects retail flows into equity markets to slow amid rising rates")
Chris Wood rejigs India equity exposure; replaces HDFC with HDFC Bank
In the financial sector, Wood now holds SBI, Bajaj Finance, ICICI Prudential Life, ICICI Lombard and CAMS besides HDFC Bank in his India long-only equity portfolio.
 "Chris Wood rejigs India equity exposure; replaces HDFC with HDFC Bank")
Zomato stock zooms 18% intraday on improved disclosures, gains 14% at close
7-8 large brokerages have come out with recommendations of overweight to buy since the firm announced its results on Monday after market hours
 "Zomato stock zooms 18% intraday on improved disclosures, gains 14% at close")
Petrol, diesel prices can rise by Rs 12, LPG by Rs 280 a cylinder: Nomura
Besides the petrol, diesel and LPG prices, compounding the woes for manufacturers and consumers alike is the sharp hike in prices of natural gas starting April 1 for a period of six months
 "Petrol, diesel prices can rise by Rs 12, LPG by Rs 280 a cylinder: Nomura")
Analysts see more pain ahead for FMCG stocks amid rising input costs
Instead of a recovery in gross margins in fiscal 2022-23 (FY23), Jefferies now builds-in 50-200 basis point (bps) YoY decline, assuming crude stays closer to $100 a barrel and palm oil at $1,500/MT
 "Analysts see more pain ahead for FMCG stocks amid rising input costs")
4.8% of $10.7 trillion Indian household assets are in equities: Jefferies
Equities as a percentage of households net worth has risen to an all-time-high as of March 2022
 "4.8% of $10.7 trillion Indian household assets are in equities: Jefferies")
DBS Bank profit rebounds in Q4, seen gaining as rates outlook improves
'Guidance for 2022 is in line with our current inputs but for the credit costs, and is likely to be the next driver of positive earnings revisions,' Guha said in a note
 "DBS Bank profit rebounds in Q4, seen gaining as rates outlook improves")
High attrition, employee cost casts spell on IT stks; buy on dips: Analysts
The nervousness in the IT stocks, analysts believe, is on account of rising employee costs at a time the business growth has been modest year-on-year in the December 2021 quarter (Q3FY22)
 "High attrition, employee cost casts spell on IT stks; buy on dips: Analysts")
Indian equities are in a bull-phase; buy on dips: Chris Wood
A budget is a good one if it does not create headlines and that's what the Indian budget has proved to be
 "Indian equities are in a bull-phase; buy on dips: Chris Wood")
CLSA upgrades RIL to buy; sees stock at Rs 2,955 in a year's time
Reliance Jio, following its peers Bharti Airtel and Vodafone Idea (Vi), hiked its prepaid tariff plans by around 20 per cent across the board (including around 21 per cent in base JioPhone level plans
 "CLSA upgrades RIL to buy; sees stock at Rs 2,955 in a year's time")
Market outlook 2022: Brokerages remain upbeat; see Sensex at new high
Inflation, winding down of stimulus from major central banks such as the US Fed and the ECB, developments in China and the impact of the new Covid variants, if any, are some of the key risks
 "Market outlook 2022: Brokerages remain upbeat; see Sensex at new high")
Covid outbreak at Jefferies casts a pall over US banks' return to office
Investment bank Jefferies Financial Group on Wednesday asked staff to work from home again due to a spate of Covid-19 cases
 "Covid outbreak at Jefferies casts a pall over US banks' return to office")
Aramco deal on backburner a minor setback; buy RIL on dips: Analysts
RIL shareholders had recently passed a resolution in October to appoint Saudi Aramco Chairman Yasir Al-Rumayyan as an independent director to the conglomerate's board
 "Aramco deal on backburner a minor setback; buy RIL on dips: Analysts")
CLSA, Goldman Sachs join growing chorus of India's 'expensive' valuations
CLSA, Goldman Sachs latest to highlight concerns
 "CLSA, Goldman Sachs join growing chorus of India's 'expensive' valuations")
Govt looks to net $30 billion in fresh funds through PLI scheme
The government itself is expecting investments of Rs 40,000 crore in speciality steel through the PLI scheme for which it has earmarked an outlay of Rs 6322 crore as incentives
 "Govt looks to net $30 billion in fresh funds through PLI scheme")
Zomato IPO: Subscribe for listing gains, suggest brokerages
Zomato IPO is set to be a watershed moment in the Indian internet space, Jefferies said in a note
 "Zomato IPO: Subscribe for listing gains, suggest brokerages")
TCS Q1 numbers a blip or sign of times to come? Here's what analysts say
TCS missed analyst expectations as India business pulled down revenue growth
 "TCS Q1 numbers a blip or sign of times to come? Here's what analysts say")
Expect low single-digit return over 12 months: Mahesh Nandurkar, Jefferies
Foreign investors are willing to look through the near-term weakness in the economy, says Nandurkar
 "Expect low single-digit return over 12 months: Mahesh Nandurkar, Jefferies")
