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

Stocks and U.S. futures fell Tuesday amid concerns about a darkening economic outlook and strengthening dollar. Shares fell in Japan, South Korea and Australia after U.S. equities slid to a 13 month-low. The tech-heavy Nasdaq 100 has shed about $1.5 trillion in market value in three days. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell nearly 1% to 16,133 points as of 7:15 a.m. Crude fell below $103 a barrel. Bitcoin nursed a plunge, a retreat that’s become emblematic of the ebbing liquidity that’s curbing risk appetite.

Economic Calendar:

  • INR: Trade balance on 13thMay
  • INR: CPI Inflation on 12th May 2022.
  • USD: Crude Oil Inventories 11th May, 2022.
  • USD: Core CPI 11th May, 2022.

Earnings: Asian Paints, Cipla, Ajanta Pharma, Cera Sanitaryware, Chalet, Avadh Sugar, Gujarat Gas, MRF, Max Financial Services, Kansai Nerolac Paints, MGL, Orient Electric, Dishman Carbogen, Kabra Extrusion Technik, Polycab India, Vodafone Idea, Torrent Power, Welspun India, Zensar Technologies

Q4Fy22 Earning:

SRF: Revenue up 6.08% at Rs 3,549.42 crore Vs Rs 3,345.87 crore EBITDA up 7.55% at Rs 948 crore Vs Rs 881.41 crore EBITDA margin 26.71% Vs 26.34% Net profit up 19.8% at Rs 605.65 crore Vs Rs 505.54 crore Approved capital expenditure of Rs 115 crore for dedicated facilities to produce intermediates for Agrochemicals in the New Plant Structure at Dahej.

Dalmia Bharat: Revenue up 7.27% at Rs 3,380 crore Vs Rs 3,151 crore EBITDA fell 11.43% at Rs 682 crore Vs Rs 770 crore EBITDA margin 20.18% Vs 24.44% Net profit fell 5.1% at Rs 595 crore Vs Rs 627 crore Declared final dividend of Rs 5 per share of face value of Rs 2 each.

Gujarat Narmada Valley Fertilizers & Chemicals: Revenue up 60% at Rs 2,771.71 crore Vs Rs 1,733.03 crore EBITDA up 88.32% at Rs 885.88 crore Vs Rs 470.41 crore EBITDA margin 32% Vs 27% Net profit up 108% at Rs 643.26 crore Vs Rs 308.91 crore Recommended dividend of Rs 10 per share of face value of Rs 10 each

KEI Industries:  Revenue up 43.76% at Rs 1,791.71 crore Vs Rs 1,246.3 crore EBITDA up 25% at Rs 171.82 crore Vs Rs 137.37 crore EBITDA margin 9.6% Vs 11% Net profit up 34.63% at Rs 115.98 crore Vs Rs 86.16 crore

Brokerage Radar:

UBS ON PVR: Buy, TP Rs 2000 Strong recovery aided by good content Decent Q4 despite third wave; Mar’22 footfalls back to pre-COVID levels Rise in diversified content and expansion of TAM Robust screen addition in FY23.

MORGAN STANLEY ON SUN PHARMA : OW, TP Rs 1002 Ilumetri EU QoQ sales trajectory has remained strong, in line with higher uptake of IL23 class of products. Sun has outlicensed this product to Almirall for EU markets.

MACQUARIE ON ASIAN PAINTS: OW, TP Rs 3650 APNT announces marginal 1% price hike effective 1-Jun-22 This price hike is over and above 2% price increase taken in May-22 & follows 16% price hikes taken in 2HCY21 Believe additional price hikes are required.

CLSA ON UPL: Buy, TP Rs1100 Rev up 24% & Ebitda up 28% YoY Debt reduction & transition to differentiated products key to PE rerating All geographies except Europe reported rev above expectations FY23 guidance: rev/Ebitda growth of 10%/12-15% & $400m debt reduction

International Markets:

U.S. & Europe:

Particulars 09th May Chg Chg(%)
Nasdaq 11,623.25 -521.41             -4.29
Dow 32245.70 -653.67 -1.99
FTSE 7,216.58 -171.36 -2.32
CAC 6,086.02 -172.34 -2.75
DAX 13,380.67 -293.62 -2.15
Dow Fut.* 32351.10 103.80 0.30

Asian markets:

Particulars 10th May Chg. Chg(%)
SGX Nifty 16,215.50 -76 -0.47
Nikkei 26,074.53 -244.81 -0.93
Straits Times 3,238.85 -36.22 -1.11
Hang Seng 19,582.73 -419.23 -2.1
Shanghai 3,022.28 18.14 0.6

ADR Watch:

Particulars 09th May Chg. Chg.(%)
Dr Reddy 50.03 -0.83 -1.63
HDFC Bank 50.7 -1.34 -2.57
ICICI Bank 17.98 -0.53 -2.86
Infosys 19.82 -0.03 -0.15
Tata Motor 25.41 -1.12 -4.22
Wipro 6.13 -0.11 -1.76

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.47   0.72
Brent 104.20    -1.77
Gold 1858.99   0.03
Silver 21.989   0.02

FIIs & DII:

Particulars 09th May                           06th May
FIIs -3361.80                                     -2074.74                                     
DIIs  3077.24  2229.31

News Update

HCL Technologies: The company will acquire Bengaluru-based Quest Informatics, an aftermarket, Industry 4.0 and IoT company, for Rs 15 crore.

Reliance Industries: The company through its subsidiary Reliance Retail has entered long term franchise agreement with Italian luxury lifestyle Tod’s S.p.A.

Shipping Corporation of India: The company has approved modifications to the scheme of demerger of non-core assets into Shipping Corporation of India Land and Assets. The modifications are subject to approval of Ministry of Ports, Shipping and Waterways and DIPAM and will not impact the Share Entitlement ratio and other major terms and conditions, it said.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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