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

Asian stocks and U.S. equity futures gained Monday after the S&P 500 hit a record on weak jobs data that added to the case for ongoing stimulus. Shares advanced in Japan, Australia and South Korea. Gasoline jumped as much as 4.2% before paring some of the increase, with U.S. operator Colonial Pipeline providing no timeline for a restart following a shutdown late Friday due to a ransomware attack.The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.91% to 15,003.50 as of 8:15 a.m.

Iron ore futures in Singapore surged on strong demand from China.

The dollar held losses after tumbling Friday, while the pound was the top performer among the Group of 10 currencies.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Industrial Production YoY MAR on 12th May, 2021
  • INR: CPI Inflation Rate YoY APR on 12th May, 2021
  • USD: EIA Short-Term Energy Outlook (US) on 11th May, 2021
  • USD: CPI Inflation (US) on 12th May,2021

International Markets:

U.S & Europe

Particulars    7th May. Chg Chg(%)
Nasdaq 13,752.24 119.4 0.88
Dow 34777.76 229.23 0.66
FTSE 7,129.71 53.54 0.76
CAC 6,385.51 28.42 0.45
DAX 15,399.65 202.91 1.34
Dow Fut.* 34,783.00 97 0.28

 

Asian markets:

Particulars    10th May. Chg Chg(%)
SGX Nifty 15,003.50 135.00 0.91
Nikkei 29,603.69 245.87 0.84
Straits Times 3,196.05 -4.21 -0.13
Hang Seng 28,682.68 72.03 0.25
Shanghai 3,420.42 1.55 0.05

ADR Watch:

Particulars       7th May. Chg Chg(%)
Dr Reddy 71.02 0.33 0.47
HDFC Bank 71.39 0.84 1.19
ICICI Bank 16.68 0.02 0.12
Infosys 18.38 -0.22 -1.18
Tata Motor 20.58 0.19 0.93
Wipro 7.56 0.04 0.53

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.51 -0.33
Brent 68.65    0.54
Gold 1833.70 0.14
Silver 27.810 1.21

FIIs & DII

Particulars   7th May.      6th May.
FIIs -1142.75      1222.58
DIIs 1468.09        -632.51

IPO:

Fincare Small Finance Bank files DRHP, seeks to raise up to Rs 1,330 crore in IPO

Non-Nifty Results:

Chambal Fertilizers & Chemicals, HFCL Ltd., HSIL Ltd., Intellect Design Arena, JMC Projects, PPAP Automotive, Venky’s India Ltd., Zydus Wellness Ltd.

Bandhan Bank Q4FY21 (YoY) Net profit down 80% at Rs 103.03 crore (Bloomberg Estimate: Rs 947 crore):

Net interest income up 4.6% Rs 1,757 crore. (Estimate: Rs 2,094 crore) Provisions surged 93% to Rs 1,594.3 crore Gross NPA at 6.81% vs 7.1% (proforma) in December quarter Bank wrote-off Rs 1,926 crore, without which NPAs ratios would have been higher

Ultratech Cement Q4FY21 (Consolidated, QoQ):

Revenues up 17.5% at Rs 14,405.6 crore Vs Rs 12,262 crore (Bloomberg Estimate: Rs 13,460.2 crore) Net profit up 12% at Rs 1,775.23 crore Vs Rs 1,584.3 crore (Estimate: Rs 1,644.9 crore) Ebitda up 18.9% at Rs 3,690.4 crore Vs Rs 3,102.2 crore (Estimate: Rs 3,152.1 crore) Ebitda margins at 25.6% Vs 25.3% Reduced net debt/Ebitda ratio to 0.55x from 1.72x as on March 31, 2020 Recommended dividend of Rs 37 per share To create additional capacity in markets of the east, central and north Board earlier sanctioned capacity expansion plans of 19.5 MT via mix of brownfield and greenfield expansions

Cholamandalam Investment and Finance Company Q4FY21 (Consolidated, YoY):

NII up 32% at Rs 1,359.82 crore Vs Rs 1,029.99 crore Net profit up 4.77x at Rs 245.13 crore Vs Rs 42.45 crore Total AUM up 14% at Rs 76,529 crore Vs Rs 66,943 crore Additional Covid Provision of Rs 350 crore created in Q4. Total Covid provision created in FY21 at Rs 566 crore. Total Covid provision as of March 31 at Rs 1,100 crore Aggregate disbursements up 43% at Rs 8,071 crore Vs Rs 5,663 crore Recommended issue of secured and unsecured NCDs of up to Rs 30,000 crore by way of a private placement, in one or more tranches. Recommended final dividend of 70 paise per share

Brokerage Radar:

Dabur India cut to Hold at Prabhudas Lilladher; cut to Hold at IDBI Capital Market; price target Rs 526

HDFC raised to Buy at IDBI Capital Market; price target 2,950 rupees.

Hero MotoCorp raised to Accumulate at Dolat Capital.

SBI Life raised to Buy at KR Choksey; price target Rs 1,200 .

SRF cut to Hold at Systematix Shares & Stocks; price target Rs 6,414.

India Ratings: Darling Digital cut; Highway Industries raised.

News Update:

Hero MotoCorp: To extend the shutdown at its manufacturing facilities across India, global parts centre and R&D facility in Jaipur till May 16. This is the third extension of the shutdown by Hero MotoCorp.

Tata Power: Board to consider issuing NCDs, bonds and other debt securities on a private placement basis on May 12.
SBI: IRDAI has imposed a penalty of Rs 30 lakh on SBI General lnsurance Company due to non-compliance in minimum obligations under motor third-party business. The penalty has been imposed for violation of Section 32D of lnsurance Act, 1938.
HPCL: Has issued unsecured, non-convertible, non-cumulative, taxable debentures of Rs 10 lakh each aggregating to Rs 1,950 crore on a private placement basis to fund capital expenditure. The coupon rate has been fixed at 6.63% per annum.

Source: Moneycontrol, Livemint, Business Standard, Bloomberg, Investing

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