Market View 18th May 2022

View on market: Stay Cautious, be with quality business:

Asian stocks rose Wednesday after a rally in U.S. stocks amid hopes of an easing crackdown on Chinese technology firms. Treasuries fell after U.S. Federal Reserve Chair Jerome Powell said that the central bank “won’t hesitate” to tighten monetary policy beyond neutral to address inflation under control. Equity advanced in Japan and Australia. U.S. futures gained after the S&P 500 and Nasdaq 100 added at least 2%. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, was little changed at 16,271 points as of 6:00 am. Crude rose to $114 per barrel. Bitcoin hovered around $30,300.

Economic Calendar:

• INR: Bank Loan Growth on 20^thMay
• INR: RBI MPC Minutes on 18^th May 2022.
• USD: Industrial Production 18^th May, 2022.
• USD: Retail Inventory 18^th May, 2022.

Earnings Today: Aditya Birla Fashion and Retail, Barbecue Nation Hospitality, Arvind Ltd., Brookfield India Real Estate Trust REIT, Finolex Industries, Gujarat Pipavav Port, Granules India, Indraprastha Gas, InterGlobe Aviation (IndiGo), Indian Overseas Bank, ITC Ltd., JK Lakshmi Cement, LIC Housing Finance, Lupin, Manappuram Finance, Navneet Education, Pidilite Industries, Route Mobile, Sandur Manganes

Q4Fy22 Earning:

Bharti Airtel: Q4 FY22 (Consolidated, QoQ) Revenue up 5.47% at Rs 31,500 crore EBITDA up 9.1% at Rs 16,040 crore EBITDA margin 50.92% vs 49.23% Net profit up 142% at Rs 2,007.8 crore ARPU up 7.2% at Rs 178 vs Rs 163.

Indian Oil Q4 FY22 (Consolidated, YoY) Revenue up 26.14% at Rs 2,09,049.16 crore EBITDA down 0.47% at Rs 14,272.63 crore EBITDA margin 6.83% vs 8.65% Net profit down 26.38% at Rs 6,645.72 crore Recommended issue of bonus shares in the ratio of 1:2
Dr. Lal Pathlabs Q4 FY22 (Consolidated, YoY) Revenue up 13% at Rs 486 crore Net profit down 27% at Rs 61 crore EBITDA fell 1% to Rs 121 crore EBITDA margin at 24.9% vs 28.3% EPS at Rs 7.41 per share Vs Rs 10.1
PI Industries Q4 FY22 (Consolidated, YoY) Revenue up 16.5% at Rs 1,395.2 crore vs Rs 1,197.1 crore EBITDA up 34.12% at Rs 305 crore vs Rs 227.4 crore EBITDA margin at 21.86% vs 19% Net profit up 13.68% at Rs 204.4 crore Recommended final dividend of Rs 3 per share
DLF: Q4 FY22 (Consolidated, YoY) Revenue fell 9.65% at Rs 1,547.26 crore EBITDA fell 19% at Rs 367.54 crore EBITDA margin at 23.75% vs 26.50% Net profit fell 15.7% to Rs 405.33 crore Recommended dividend of Rs 3 per share
GMR Infrastructure Q4 FY22 (Consolidated, YoY) Revenue fell 17.48% at Rs 1,283.6 crore EBITDA fell 32% to Rs 534.15 crore EBITDA margin at 41.61% vs 50.5% Net loss at Rs 128.95 crore vs Rs 723.36 crore

Brokerage Radar:

CLSE ON DR LAL PATHLABS: Sell, TP cut to Rs 2100 Cut FY23-24CL EPS by 5.4% each to reflect 4Q miss & increasing competition. Despite a 20% fall shares over past 3 months, its risk-reward still remains unfavourable.

JEFFERIES ON BHARTI AIRTEL: Buy, TP Rs 880 Strong 4Q on back of tariff hikes Subscriber mix continued to improve Homes & enterprise segments surprised +vely, while DTH & Africa disappointed FCF generation was strong & leverage at 2.5x comfortable.

UBS ON DLF: Buy, TP Rs 440 Strong Q4FY22 performance Believe DLF is well placed in sector given its strong balance sheet, large owned land bank, which should help deliver above industry presales growth & cash EBITDA margins over medium to long term

International Markets:

U.S & Europe:

Asian markets:

ADR Watch:

Commodities & Currency:

FIIs & DII:

News Update

Motilal Oswal: The brokerage has approved buyback of 14.54 lakh shares at Rs 1,100 per share.

Jet Airways: The airline successfully conducted proving flights over two days. It expects to get the air operator certificate from DGCA.

Bharat Rasayan: A fire occurred at one block of the Dahej plant, and the cause of fire is under investigation. The company has full insurance coverage for the same.

TVS Motor: The company will divest its entire stake in Intellicar to Fabric IOT for Rs 45 crore. The divestment is part of the value creation initiatives on its digital portfolio, said Rajesh Narasimhan, Director and CEO of TVS Digital

Zydus Lifesciences: The company will consider buyback of shares on May 20.

EKI Energy: The company approved migration of from SME platform of BSE to Main Board of BSE.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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