View on market: Stay Cautious, be with quality business:
Stocks in Asia declined amid economic threats from high inflation, tightening monetary policy and China’s Covid-19 lockdowns. Equities fell in Japan, Australia and South Korea, while U.S. futures edged lower. The Nasdaq 100 has shed over $1 trillion in value in the past five sessions. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell over 0.8% to 17,597.5 points as of 7:00 a.m. Oil hovered around $99.5 per barrel while Bitcoin fell below $40,000.
Economic Calendar:
- INR: WPI Inflation on 14th April 2022.
- INR: CPI Inflation on 13th April 2022.
- USD: CPI INflation 8h April, 2022.
- USD: FOMC Speaker Bostic Speaks 12th April, 2022.
Quarterly Result Today:
Anand Rathi,Hathway,DEN
Q4Fy22 Earning:
TCS: Q4 FY22 (Consolidated, QoQ) Revenue up 3.5% at Rs 50,591 crore vs Rs 48,885 crore (Bloomberg estimate: 50,263.1 crore) Net profit up 1.61% at Rs 9,926 crore vs Rs 9,769 crore (Bloomberg estimate: 10,067 crore) EBIT up 3.2% at Rs 12,628 crore vs Rs 12,237 crore (Bloomberg estimate: 12,562 crore) EBIT margins at 24.96% vs 25.03% (Bloomberg estimate: 25.9%) Declared final dividend of Rs 22 per share.
Delta Corp.: Q4 FY22 (Consolidated, QoQ) Revenue fell 12% at Rs 218.32 crore vs Rs 252.2 crore Net profit fell 32% at Rs 48.11 crore vs Rs 70.38 crore EBITDA fell 35.6% at Rs 69 crore vs Rs 107.19 crore EBITDA Margins at 31.6% vs 43.3% Declared final dividend of Rs 1.25 per share.
Brokerage Radar:
DOLAT CAPITAL ON TCS: Reduce with Target Price of Rs.3790 Tata Consultancy Services Ltd. reported revenue growth of 3.2% QoQ in constant currency terms (our estimate: 3.2%) led by strong traction across verticals. Operating profit margin declined by 7 basis points QoQ to 25% (our estimate: 24.7%) due to supply-led headwinds (headcount up 6.3% QoQ). Announced dividend per share of Rs 22. Reported best ever total contract value wins at $11.3 billion; taking the trailing twelve months TCV to $34.6 billion (up 9.8% YoY) with 1.35 times revenue coverage.
MOTILAL OSWAL ON TCS: TCS has consistently maintained its market leadership position and show best in-class execution. This renders the company with ample room to maintain its industry-leading margin and demonstrate superior return ratios. Motilal maintain our positive stance on TCS, given its strong growth outlook. Our TP of INR4,240 implies 30x FY24 EPS, with a 15% upside potential. We maintain our Buy rating.
International Markets:
U.S. & Europe:
| Particulars | 11th Apr | Chg | Chg(%) |
| Nasdaq | 13,411.96 | -299.04 | -2.18 |
| Dow | 34308.08 | 413.04 | -1.19 |
| FTSE | 7,618.31 | -51.25 | -0.67 |
| CAC | 6,555.81 | 7.59 | 0.12 |
| DAX | 14,192.78 | -90.89 | -0.64 |
| Dow Fut.* | 34202 | -105.3 | -0.31 |
Asian markets:
| Particulars | 12th Apr | Chg. | Chg(%) |
| SGX Nifty | 17,576.50 | -165.5 | -0.93 |
| Nikkei | 26,455.97 | -365.55 | -1.36 |
| Straits Times | 3,337.17 | -26.39 | -0.78 |
| Hang Seng | 21,129.22 | -79.08 | -0.37 |
| Shanghai | 17,576.50 | -165.5 | -0.93 |
ADR Watch:
| Particulars | 12th Apr | Chg. | Chg.(%) |
| Dr Reddy | 57.15 | -0.98 | -1.69 |
| HDFC Bank | 62 | -1.12 | -1.77 |
| ICICI Bank | 19.8 | -0.08 | -0.4 |
| Infosys | 23.05 | -0.65 | -2.74 |
| Tata Motor | 29.32 | -0.83 | -2.75 |
| Wipro | 7.36 | -0.22 | -2.9 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 75.95 | 0.07 |
| Brent | 100.41 | 1.96 |
| Gold | 1957.60 | 0.48 |
| Silver | 25.350 | 1.44 |
FIIs & DII:
| Particulars | 11th Apr | 8th Apr |
| FIIs | -1145.24 | -5009.62 |
| DIIs | 486.51 | 1774.70 |
News Update
Kesoram Industries Q4 FY22 (Consolidated, YoY) Revenue up 20% at Rs 1,031.78 crore vs Rs 861.56 crore Net loss of Rs 46.14 crore vs net profit of Rs 96.41 crore EBITDA fell 15% at Rs 97.78 crore vs Rs 115.17 crore EBITDA margin at 9.48% Vs 13.37%.
JSW Steel: The company’s wholly owned subsidiary JSW Utkal Steel received the environmental clearance to set up a greenfield integrated steel plant with a production capaicty of 1.32 crore tonnes per annum. The capital expenditure for the project is expected to be Rs 65,000 crores including associated facilities.
Wipro: The company acquired Convergence Acceleration Solutions, a U.S.-based consulting and program management firm that specialises in driving large-scale business and technology transformation.
UltraTech Cement: The firm was declared as the preferred bidder for Diggaon Limestone Block in an e-auction conducted by the Karnataka government. The block is situated in Tehsil Chittapur, District Kalburgi, Karnataka adjacent to its Rajashree unit and has total cement grade geological resources of 530 million tonnes of limestone.
Nestle India: The company approved interim dividend of Rs 25 per equity share of Rs 10 each. Reliance Capital: The company appointed Aman Gudral as chief financial officer effective April 12, after Vijesh Thota resigned.
Info Edge (India): The company has invested about Rs.3.7 crores in Terralytics Analysis for 20.5% stake.
Vipul Organics: Announced bonus shares in the ratio of 1:4.
Adani Transmission: Added 1,104 CKMS to transmission in FY22; distribution operations grew 11.2% year-on-year in the previous fiscal.
Intellect Design: In pact with VPBank for Vietnam Banking Services.
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