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

Asian stocks and U.S. equity futures slid Tuesday after a technology-led tumble on Wall Street as surging commodity prices stoked concern about inflation. A gauge of Asian equities fell the most this month, with shares declining in Japan, Australia and South Korea. Nasdaq 100 contracts retreated after the index tumbled 2.6% amid the growing anxiety over inflation. S&P 500 futures dropped after the gauge fell from an all-time high.The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, slipped 1.37% to 14,783.50 as of 8:12 a.m.

West Texas Intermediate crude fell as commodities trimmed their recent surge. The spotlight remains on commodities and the market implications of recent jumps in materials like copper and iron ore.

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    10th May. Chg Chg(%)
Nasdaq 13,401.86 -350.38 -2.55
Dow 34742.82 -34.94 -0.1
FTSE 7,123.68 -6.03 -0.08
CAC 6,385.99 0.48 0.01
DAX 15,400.41 0.76 0
Dow Fut.* 34558 -110 -0.32

Asian markets:

Particulars    11th May. Chg Chg(%)
SGX Nifty 14,783.50 -205 -1.37
Nikkei 28,705.95 -812.39 -2.75
Straits Times 3,156.32 -26.09 -0.82
Hang Seng 27,929.52 -666.14 -2.33
Shanghai 3,385.64 -42.35 -1.24

ADR Watch:

Particulars       10th May. Chg Chg(%)
Dr Reddy 72.20 1.18 1.66
HDFC Bank 69.50 -1.89 -2.65
ICICI Bank 16.67 -0.01 -0.06
Infosys 18.36 -0.02 -0.11
Tata Motor 21.05 0.47 2.28
Wipro 7.60 0.04 0.53

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.35 -0.22
Brent 67.87 -0.66
Gold 1837.10 -0.03
Silver 27.43 -0.23

FIIs & DII

Particulars   10th May.   7th May.
FIIs 583.69 -1142.75
DIIs -476.26     1468.09

Non-Nifty Results:

Aarti Industries, Alembic, Andhra Paper, BASF India, Bliss GVS Pharma, Dishman Carbogen Amcis, Firstsource Solutions, Granules India, Godrej Consumer Products, Huhtamaki India, Kalpataru Power Transmission, KEC International, Linde India, Matrimony.com, Neuland Laboratories, Siemens, Wardwizard Innovations & Mobility

HFCL Q4FY21 (Consolidated, QoQ):

Revenue up 9% at Rs 1,391.40 crore Vs Rs 1,277.48 crore Net profit 3% at Rs 84.67 crore Vs Rs 82.24 crore Ebitda up 10% at Rs 181.30 crore Vs Rs 164.18 crore Ebitda margins at 13% Vs 12.9%

News Update:

Punjab National Bank:

Authorised the opening of QIP of shares of the face value of Rs 2 each on May 10. The floor price fixed at Rs 35.51 per share. Capital raising committee to meet on May 14 to determine the issue price, including any discount, for the equity shares to be allotted to eligible Qualified Institutional Buyers. PNB had last raised Rs 3,788 crore through QIP in December 2020.

InterGlobe Aviation:

Board approved raising up to Rs 3,000 crore via qualified institutions placement.

HUL:

Has appointed Srinandan Sundaram, currently Executive Director, Customer

Development as Executive Director, Foods and Refreshment with effect from July 1. Sundaram will replace Sudhir Sitapati who is leaving the organisation to pursue an external opportunity.

Indian Overseas Bank:

Board to meet on May 17 to consider issuing shares to the government on a preferential basis for the capital infusion of Rs 4,100 crore received on March 31.

Bajaj Finance:

Has allotted 20,000 secured NCDs of the face value of Rs 10 lakh each on a private placement basis.

Nxtdigital:

Board to meet on May 13 to consider the proposal of fundraising by offer and issuance of fully paid-up equity shares by way of a rights issue to the eligible shareholders.

Federal-Mogul Goetze (India):

Has shut down its plant at Bangalore till May 15 due to the current pandemic situation in Karnataka.

Oberoi Realty:

Board to meet on May 14 to consider raising funds through NCDs and equity shares.

Crisil on Indian Economy :

India’s economic growth may slip to 8.2 per cent if the second wave peaks in end of June, domestic rating agency Crisil warned, maintaining its baseline estimate of 11 per cent uptick in activity. The agency made it clear that the risks to its 11 per cent growth forecast are “firmly tilted downwards”, and presented two likely scenarios. If the second wave peaks in May-end, the GDP expansion will come at 9.8 per cent, and can go down to 8.2 per cent if the peaking happens in June-end, it warned.

Bulk Deals:

Reliance Infrastructure: IndusInd Bank sold 33.32 lakh shares (1.27%) at Rs 49.16 per share.

Insecticides (India): The company bought 2.64 lakh shares (1.28%) at Rs 544.74 per share.

Solara Active Pharma Sciences: Pronomz Ventures LLP sold 10.69 lakh shares (2.98%) at Rs 1,552.05 per share. TPG Growth IV SF PTE sold 13.36 lakh shares (3.72%) at Rs 1,557.26 per share. Classic Opportunities Fund ULIF bought 2.57 lakh shares (0.72%) at Rs 1,552.05 per share. Aditya Birla Sun Life Flexi Cap Fund bought 3.90 lakh shares (1.09%) at Rs 1,552.05 per share.

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

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