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

Asian stocks were mixed and U.S. equity futures advanced on Wednesday ahead of Chinese and US economic data. Japan’s market was mixed, while Australia and South Korea remained volatile. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell nearly 0.59% to 16,115.50 points as of 6:40 a.m. Crude oil fell below $100 a barrel after losing nearly 10% this week, amid Covid-19 lockdowns in China. Elsewhere, bitcoin hovered around $31,000.

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 Today: Adani Ports & SEZ, PNB, Indian Bank, BSE Ltd., Mangalore Refinery & Petrochemicals, Cholamandalam Financial Services, Birla Corp, Balaji Amines, Kalyan Jewellers, Butterfly Gandhimathi, HSIL, Magadh Sugar, SKF India, Petronet LNG

Q4Fy22 Earning:

Vodafone Idea Q4 FY22 (Consolidated, QoQ) Revenue up 5.37% at Rs 10,239.5 crore vs Rs 9,717.3 crore EBITDA up 38.32% at Rs 4,649 crore vs Rs 3,816.5 crore EBITDA margin 45.4% vs 39.28% Net loss contracted at Rs 6,563.1 crore vs Rs 7,231 crore

Cipla Q4 FY22 (Consolidated, YoY) Revenue up 14% at Rs 5,260 crore vs Rs 4,606 crore EBITDA down 6% to Rs 750 crore from Rs 796 crore EBITDA margin at 14.3% vs 17.3% Net profit down 12% at Rs 362 crore from Rs 413 crore EPS at Rs 4.49 per share vs Rs 5.13 per share Recommended dividend of Rs 5 per share

Gujarat Gas Q4 FY22 (Consolidated, YoY) Revenue up 36.54% at Rs 4,773.37 crore vs Rs 3,495.92 crore EBIT up 28% at Rs 595.37 crore vs Rs 465.04 crore EBIT margin 12.47% vs 13.3% Net profit up 27.6% at Rs 444.39 crore vs Rs 348 crore
Torrent Power Q4 FY22 (Consolidated, YoY) Revenue up 21.38% at Rs 3,743.65 crore vs Rs 3,084.13 crore EBIT up 11% at Rs 653.23 crore vs Rs 588.53 crore EBIT margin 17.45% vs 19.08% Net loss of Rs 488.04 crore vs net profit of Rs 397 crore

Max Financial Services Q4 FY22 (Consolidated, QoQ) Revenue up 21.38% at Rs 8,959.65 crore vs Rs 6,954.04 crore EBITDA up 8.33% at Rs 990.64 crore vs Rs 914.45 crore EBIT margin 26.46% vs 29.65% Net profit up 58.36% at Rs 144 crore vs Rs 91 crore

Kansai Nerolac Paints Q4 FY22 (Consolidated, YoY) Revenue up 5.28% at Rs 1,536.6 crore vs Rs 1,459.57 crore EBITDA fell 60.68% at Rs 83.92 crore vs Rs 213.45 crore EBITDA margin 5.46% vs 14.62% Net profit fell 80% at Rs 24.73 crore vs Rs 124 crore Recommended a final dividend of Rs 1 per share

Brokerage Radar:

JEFFERIES ON MGL: Buy, TP Rs 1400 Reported 20% beat on EBITDA in 4Q driven by higher margins while vols were broadly in line With APM gas cost doubling in Apr-22E to $ 6.1/mmbtu & potentially rising further to $ 9.2 in Oct-22, outlook ahead is more important

UBS ON GUJARAT GAS: Sell, TP Rs 550 Industrial vol decline; higher margins drive earnings beat Raise FY23-24E EBITDA/scm by 2-5% given recent price hikes for CNG segment & lower spot LNG sourcing requirement for industrial segment.

MORGAN STANLEY ON CIPLA: OW, TP Rs 1122 Expect steady mid-teens growth for branded generics biz & high-value complex launches in US Co continues to build a robust pipeline of inhalers, complex injectables, & peptides for longer term

International Markets:

U.S. & Europe:

Particulars 10th May Chg Chg(%)
Nasdaq 11,737.67 114.42 0.98
Dow 32160.74 -84.96 -0.26
FTSE 7,243.22 26.64 0.37
CAC 6,116.91 30.89 0.51
DAX 13,534.74 154.07 1.15
Dow Fut.* 32231.70 70.70 0.22

Asian markets:

Particulars 11th May Chg. Chg(%)
SGX Nifty 16,185.50 -25.5 -0.16
Nikkei 26,249.83 82.73 0.32
Straits Times 3,214.54 -19.65 -0.61
Hang Seng 19,835.86 202.17 1.03
Shanghai 3,072.18 36.34 1.2

ADR Watch:

Particulars 10th May Chg. Chg.(%)
Dr Reddy 50.59 0.56 1.12
HDFC Bank 53.73 3.03 5.98
ICICI Bank 18.36 0.38 2.11
Infosys 19.76 -0.06 -0.3
Tata Motor 25.46 0.05 0.2
Wipro 6.22 0.09 1.47

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.33 -0.17
Brent 104.60 1.99
Gold 1837.28   -0.19
Silver 21.43    0.05

FIIs & DII:

Particulars 10th May                            09th May
FIIs -3960.59                                    -2074.74                                     
DIIs 2958.40 2229.31

News Update

State Bank of India: The bank approved raising $2 billion in single or multiple tranches through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency in FY23. RITES: A company-led consortium received an order for consultancy services for review of design and construction of sections of Eastern Railway Line, Ministry of Railways Development, Ghana, for $21.06 million. The company holds 60% stake in the consortium.

Wipro: The company extended its strategic agreement with Paris based Crédit Agricole CIB, the corporate and investment bank division of Crédit Agricole Group.
Aurobindo Pharma: The company has been issued a ‘Form 483’ with six observations during inspection by the United States Food and Drug Administration. It is working closely with the US FDA to close the observations and respond to them within the stipulated timeline.

Future Enterprises: The company has defaulted on bond obligation for Rs 2.28 crore. MTAR Technologies: The company approved acquisition of Gee Pee Aerospace & Defence, a MSME company, for Rs 8.82 crore.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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