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

Asian stocks were steady early Friday after U.S. shares and Treasuries rallied as investors judged that a jump in inflation is likely to be transitory, leaving scope for ongoing central-bank support. Japanese shares fluctuated, South Korea rose and Australia slipped. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 15,794.50 as of 8:15 a.m. The 10-year U.S. Treasury yield held most of an earlier drop to 1.43%, its lowest point since March. The yield declined after a brief jump on above-forecast gains in U.S. consumer prices. The dollar retreated.The CPI increase in May was driven largely by categories associated with a broader reopening of the economy, as vaccinations bring the pandemic under control. Despite some signs of wider price pressures, concerns about a spike in longer-term borrowing costs that could destabilise global markets have eased.

Key Data/ Action, Result, and Board meeting to watch

Major economic Data:

  • INR: Industrial Production YoY APR on 11th June, 2021
  • INR: Foreign Exchange Reserves on 11th June, 2021
  • USD: Core Retail Sales (MoM) (May) on15th June, 2021
  • USD: PPI (MoM) (May) on 15th June, 2021

Earnings to Watch:

Earnings: DLF, BEML, Bharat Heavy Electricals, CG Power and Industrial Solutions, Cochin Shipyard, Deccan Cements, DFM Foods, Heranba Industries, Likhitha Infrastructure, Lumax Industries, Max Ventures and Industries, Patel Engineering, Sun TV Network

International Markets:

U.S & Europe

Particulars    10th June. Chg Chg(%)
Nasdaq 14,020.33 108.58 0.78
Dow 34466.24 19.1 0.055
FTSE 7,088.18 7.17 0.1
CAC 6,546.49 -16.96 -0.26
DAX 15,571.22 -9.92 -0.06
Dow Fut.* 34456.5 -4.5 -0.01

Asian markets:

Particulars    11th June. Chg Chg(%)
SGX Nifty 15,794.50 19 0.12
Nikkei 28,923.30 -35.26 -0.12
Straits Times 3,165.99 3.49 0.11
Hang Seng 28,808.34 69.46 0.24
Shanghai 3,597.15 -13.71 -0.38

ADR Watch:

Particulars       10th June. Chg Chg(%)
Dr Reddy 72.61 0.82 1.14
HDFC Bank 77.24 -0.01 -0.01
ICICI Bank 17.61 0.18 1.03
Infosys 19.89 0.23 1.17
Tata Motor 23.56 0.14 0.6
Wipro 8.24 0.08 0.98

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR        73.05 0.11
Brent 71.98 -0.74
Gold 1902.85 0.34
Silver 28.188 0.56


Particulars         10th June.     9th June.
FIIs         1329.70      1422.71
DIIs -575.19      -1626.98



Eclerx Services Q4FY21 (Consolidated, QoQ) Revenue 20% at Rs 472.8 crore Vs Rs 394.30 crore Net profit up 38% at Rs 98.30 crore Vs Rs 71.20 crore Ebitda up 36% at Rs 152.40 crore Vs Rs 112 crore Ebitda margin at 32.2% Vs 28.4% Recommended dividend of Re 1 per share Constant currency growth at 19.3%. Offshore growth stronger than onshore.

NHPC Q4FY21 (Consolidated, QoQ) Revenue down 32% at Rs 1,609.17 crore Vs Rs 2,359.68 crore Net profit down 51% at Rs 427.55 crore Vs Rs 869.21 crore Ebitda down 60% at Rs 548.10 crore Vs Rs 1,364.21 crore Ebitda margin at 34.1% Vs 57.8%

News Update:

NHPC: Approved raising up to Rs 4,300 crore through issuance of secured, redeemable, taxable, non-cumulative, non-convertible taxable corporate bonds in FY22.

Suven Pharmaceuticals Ltd, CSIR-Indian Institute of Chemical Technology, Hyderabad and CSIR-National Institute of Interdisciplinary Science & Technology, Thiruvananthapuram: have entered into an agreement for the process technology transfer and manufacturing of the anti-Covid drugs, Molnupiravir and 2-DG. This is a related party transaction as one of the Independent Directors of SPL, S Chandrasekha is also the Director of CSIR-IICT, Hyderabad. The agreements between the parties involve a total fee of Rs 8 lakh plus taxes for the grant of the licenses on a non-exclusive basis to SPL.

GOCL Corporation: The company and its wholly owned subsidiary, IDL Explosives, have bagged orders of Rs 286.63 crore from Coal India. The company will supply raydets, electronic and other detonators and cartridge explosives over a period of 2 years to Coal India.

Godrej Properties: Godrej Projects Development, a wholly owned subsidiary of the company, has acquired 20% issued and paid-up share capital of Vagishwari Land Developers for Rs 29.99 crore

Reliance Industries: Partly paid-up equity shares will be entitled to dividend of Rs 3.50 per share for FY21.

Mangalore Refinery and Petrochemicals: Approved the scheme of amalgamation of ONGC Mangalore Petrochemicals with the company. The amalgamation will create greater synergies between the business operations of both the companies, result in optimal utilisation of resources and will maximise returns to the entire group, the company said.

Power Grid Corp: To consider a free share issue on June 17.

Cosmo Films: Cosmo Speciality Chemicals, a subsidiary of the company, has launched a new product called Fabritizer, an after-wash laundry sanitizer for germ-free clothing.

Indian Bank: Declared the non-performing accounts of Emmsons International, Runit Fabrics and KR Corporation as fraud and reported them to the RBI.

Yes Bank: To seek shareholders approval to raise up to Rs 10,000 crore via issue of debt securities.

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