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: CPI Inflation on 12th May 2022.
- USD: Unemployment Rate 6th May, 2022.
- USD: Average hourly earnings 6th May, 2022.
Earnings: Reliance Industries, Apollo Pipes, Bajaj Consumer Care, Canara Bank, Federal Bank, Great Eastern Shipping Company, Shipping Corporation of India, Tata Power.
Q4Fy22 Earning:
Blue Dart Express : The express air and integrated transportation company posted a growth of 20.7 percent year-on-year (YoY) in its standalone profit after tax at Rs 135 crore in the fourth quarter ended March 22. Revenue from operations for the quarter jumped 21 percent on year to Rs 1,166 crore. The company declared a total dividend of Rs 60 per equity share for FY21-22.
Sona BLW Precision Forgings : Profit after tax for the fourth quarter ended March 22 soared 76 percent to Rs 105 crore as compared to Rs 60 crore reported during the same period last year. Revenue was up merely 2 percent on year to Rs 550 crore. The company has declared a dividend of Re 0.77 per equity share for FY22.
TVS Motor Company : The automobile company reported lower than expected numbers for the quarter ended March. Net profit fell 5 percent year-on-year (YoY) to Rs 274.5 crore while revenue was up 4 percent at Rs 5,530.3 crore.
Voltas : The company reported lower than estimated earnings for the fourth quarter of FY22. Net profit fell 23.5 percent year-on-year (YoY) to Rs 182.7 crore whereas revenue was up 4 percent at Rs 2,666.6 crore.
Brokerage Radar:
CITI ON EXIDE: Buy, TP cut to Rs 215 from Rs 230 4Q Below Estimates as Gross Margin Falters Demand trends are strong across segments, though commodity cost pressures are likely to escalate Cut earnings over FY23-24 by 9-10%.
MORGAN STANLEY ON MARICO: OW, TP Rs 651 4Q largely in line A weak demand environment & inflation in some raw materials are challenges Stable copra prices & market share gains are +ves Like medium-term strategy of core & non-core growth
CLSA ON TVS MOTORS: O-P, TP raised to Rs 724 4Q Ebitda 4% lower than est due to lower ASPs Co maintained gross margin & Ebitda margin (QoQ) despite rising raw material Co confident to achieve double-digit growth in vol in FY23
International Markets:
U.S. & Europe:
| Particulars | 05th May | Chg | Chg(%) |
| Nasdaq | 12,317.69 | -647.17 | -4.99 |
| Dow | 32997.97 | -1063.09 | -3.12 |
| FTSE | 7,503.27 | 9.82 | 0.13 |
| CAC | 6,368.40 | -27.28 | -0.43 |
| DAX | 13,902.52 | -68.3 | -0.49 |
| Dow Fut.* | 32963.30 | -54.80 | -0.17 |
Asian markets:
| Particulars | 06th May | Chg. | Chg(%) |
| SGX Nifty | 16,450.50 | -240.5 | -1.44 |
| Nikkei | 26,850.53 | 32 | 0.12 |
| Straits Times | 3,296.92 | -46.65 | -1.4 |
| Hang Seng | 20,220.87 | -572.53 | -2.75 |
| Shanghai | 3,023.62 | -44.14 | -1.44 |
ADR Watch:
| Particulars | 05th May | Chg. | Chg.(%) |
| Dr Reddy | 51.01 | -1.93 | -3.65 |
| HDFC Bank | 53.4 | -1.85 | -3.35 |
| ICICI Bank | 18.85 | -0.53 | -2.73 |
| Infosys | 20.31 | -0.3 | -1.46 |
| Tata Motor | 27.3 | -0.77 | -2.74 |
| Wipro | 6.34 | -0.15 | -2.31 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.26 | -0.21 |
| Brent | 111.68 | 0.70 |
| Gold | 1875.44 | 0.02 |
| Silver | 22.425 | -0.04 |
FIIs & DII:
| Particulars | 05th May | 04th May |
| FIIs | -2074.74 | -3288.18 |
| DIIs | 2229.31 | 1338.00 |
News Update
Phoenix Mills : The company has announced the completion of acquisition of balance 50 percent equity stake in Classic Mall Development Company from Crest Ventures and Escort Developers. Phoenix Mills has paid Rs. 9,360 million to acquire the 50 percent stake held by Crest Ventures and Escort Developers.
Tata Motors : Tata Motors has announced its foray into electric last mile cargo segment with the Ace EV.
Mahindra and Mahindra : The Mahindra Group has initiated a restructuring to trifurcate its flagship automobiles business which contributes 55 percent to the group revenue, said a news report. The exercise, which is understood to be in the early stages, will involve separating the electric vehicle, tractor and passenger vehicle businesses into three independent companies via a demerger process. Currently, these are housed under Mahindra & Mahindra as separate divisions, it added.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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