View on market: Stay Cautious, be with quality business:
Bonds rose and the dollar held a drop on Thursday after the Federal Reserve raised interest rates as expected to tackle inflation while countering fears of super-sized hikes. Shares in Australia gained and futures pointed to a positive open in Hong Kong. U.S. futures were volatile following a 3% jump in the S&P 500 index, the biggest since 2020. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose over 1% to 16,852 points as of 6:45 am. Fed Chair Jerome Powell said a 75 basis points hike is “not something that the committee is actively considering,” spurring a market rally. The Fed raised rates a half point and signaled similar moves for the next couple of meetings. Climbs in oil and wheat underlined the risks. Crude hit $108 a barrel on a European Union plan to ban Russian barrels over the next six months. Wheat rose on the possibility of export curbs by major grower India. Bitcoin hovered around $39,600.
Economic Calendar:
- INR: Bank Loan Growth on 06thMay
- INR: Service PMI on 05th May 2022.
- USD: Unemployment Rate 6th May, 2022.
- USD: Average hourly earnings 6th May, 2022.
Earnings: Adani Transmission, Dabur, Marico, Indus Towers, Voltas, TVS Motor, Sona BLW Precision Forgings, PNB Gilts, Procter & Gamble Health, Punjab Alkalies & Chemicals, Intellect Design Arena, Happiest Minds Technologies, Firstsource Solutions, Exide industries, DCM Shriram, Cholamandalam Investment and Finance, CEAT, Computer Age Management Services, Blue Star, Blue Dart, Aptus Value Housing Finance.
Q4Fy22 Earning:
Adani Total Gas Q4 FY22 (Consolidated, YoY) Revenue up 14.35% at Rs 1,065.48 crore Vs Rs 931.81 crore EBITDA fell 35.45% at Rs 131.14 crore Vs Rs 203.32 crore EBITDA margin 12.31% Vs 21.82% Net profit fell 36.45% at Rs 81.09 crore Vs Rs 127.61 crore Recommended dividend of Rs 0.25 per share on face value of Rs 1 each
Tata Consumer Products: Q4 FY22 (Consolidated, YoY) Revenue fell 1% at Rs 3,175.41 crore Vs Rs 3,208.28 crore EBITDA fell 3.73% at Rs 444.33 crore Vs Rs 461.56 crore EBITDA margin 14% Vs 14.4% Net profit fell 18% at Rs 444.33 crore Vs Rs 461.56 crore Recommended final dividend of Rs 6.05 per share.
IIFL Wealth Management: Q4 FY22 (Consolidated, YoY) Revenue up 6.5% at Rs 447.3 crore Vs Rs 420 crore EBIT fell 16.21% at Rs 178.59 crore Vs Rs 213.13 crore EBIT margin 39.93% Vs 50.75% Net profit up 60% at Rs 165.36 crore Vs Rs 103.3 crore.
ABB India: Q4 FY22 (Standalone, QoQ) Revenue fell 6.3% at Rs 1,968.37 crore Vs Rs 2,101.5 crore EBIT fell 0.16% at Rs 162.21 crore Vs Rs 162.47 crore EBIT margin 8.24% Vs 7.73% Net profit up 98.23% at Rs 373.07 crore Vs Rs 188.2 crore.
Brokerage Radar:
CLSA ON KOTAK MAHINDRA BANK: Buy, TP Rs 2200 Strong growth & NIM performance in 4Q Asset quality continues to improve, leading to the provision reversals. Incrementally, liability mobilisation will need to increase significantly to fund accelerated loan growth.
NOMURA ON RBI RATE HIKE: Expect frontloaded hikes this year (repo rate at 5.75% by end-2022 vs. 5% earlier) & raise terminal forecast slightly (to 6.25% from 6%) Also expect a 100bp in cumulative CRR hikes in H2 2022
International Markets:
U.S. & Europe:
| Particulars | 04th May | Chg | Chg(%) |
| Nasdaq | 12,964.86 | 401.1 | 3.19 |
| Dow | 34061.06 | -932.27 | 2.81 |
| FTSE | 7,493.45 | -67.88 | -0.9 |
| CAC | 6,395.68 | -80.5 | -1.24 |
| DAX | 13,970.82 | -68.65 | -0.49 |
| Dow Fut.* | 34016.9 | -43.7 | -0.13 |
Asian markets:
| Particulars | 05th May | Chg. | Chg(%) |
| SGX Nifty | 16,836.50 | 147.5 | 0.88 |
| Nikkei | 26,818.53 | -29.37 | -0.11 |
| Straits Times | 3,346.87 | -2.4 | -0.07 |
| Hang Seng | 21,028.03 | 158.51 | 0.76 |
| Shanghai | 3,065.63 | 18.57 | 0.61 |
ADR Watch:
| Particulars | 04th May | Chg. | Chg.(%) |
| Dr Reddy | 52.94 | -0.52 | -0.97 |
| HDFC Bank | 55.25 | -0.64 | -1.15 |
| ICICI Bank | 19.38 | 0.01 | 0.05 |
| Infosys | 20.61 | 0.39 | 1.93 |
| Tata Motor | 28.07 | -0.48 | -1.68 |
| Wipro | 6.49 | 0.06 | 0.93 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.41 | -0.13 |
| Brent | 110.48 | 0.31 |
| Gold | 1901.62 | 1.71 |
| Silver | 23.288 | 3.96 |
FIIs & DII:
| Particulars | 04th May | 02nd May |
| FIIs | -3288.18 | -1853.46 |
| DIIs | 1338.00 | 1951.10 |
News Update
Wipro: The company expanded its partnership with California based VMware to help eliminate the complexity and risk inherent in customers’ multi-cloud initiatives.
SBI: The bank will consider raising $2 billion in single/multiple tranches via public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY23 on May 10.
Magellanic Cloud: The company will acquire IVIS International and Provigil Surveillance for Rs 290.27 crore and Rs 35.97 crore respectively.
EIH: The company has appointed Arjun Singh Oberoi as Executive Chairman with effect from May 4 after P.R.S. Oberoi’s resignation.
Matrimony.com: The company will consider buyback proposal on May 12.
City Union Bank: The company appointed M. Narayanan as part time Chairman of the bank.
Bank of India: The bank appointed B. Kumar as the Chief Risk Officer.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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