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

Asian stocks and U.S. equity futures fell Wednesday after a drop on Wall Street amid concern that faster inflation and the surge in commodities could test the recovery from the pandemic. Stocks slid in Japan, South Korea and Australia. U.S. contracts retreated after the S&P 500 declined for a second day following a record high Friday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, was little changed at 14,836.00 as of 7:05 a.m.

The weaker dollar boosted oil, helping to offset the effects of rising inventories in the U.S. Gulf Coast in response to the Colonial Pipeline shutdown.

Copper traded near a record, and the Bloomberg Commodity Spot Index hovered around the highest levels in almost a decade. A commodity exchange in China raised trading limits and margin requirements as authorities try to temper prices after a scorching rally in industrial commodities.

Key Data/ Action, Result,IPO 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: Crude oil Inventories on 12th May, 2021
  • USD: CPI Inflation (US) on 12th May,2021
  • Insurance Service Provider Medi /Assist Healthcare files for IPO
  • Blackstone-Owned Sona BLW gets SEBI approval for Rs 6,000 crore IPO

Nifty Results: UPL, Asian Paints

International Markets:

U.S & Europe

Particulars    11th May. Chg Chg(%)
Nasdaq 13,389.43 -12.43 -0.09
Dow 34269.16 -473.66 -1.36
FTSE 6,947.99 -175.69 -2.47
CAC 6,267.39 -118.6 -1.86
DAX 15,119.75 -280.66 -1.82
Dow Fut.* 34,068.00 -115 -0.34

Asian markets:

Particulars    12th May. Chg Chg(%)
SGX Nifty 14,824.00 -26 -0.18
Nikkei 28,439.52 -169.07 -0.59
Straits Times 3,134.81 -9.46 -0.3
Hang Seng 28,137.26 123.45 0.44
Shanghai 3,446.26 4.41 0.13

ADR Watch:

Particulars       11th May. Chg Chg(%)
Dr Reddy 71.77 -0.43 -1.85
HDFC Bank 69.20 -0.30 -0.43
ICICI Bank 16.57 -0.10 -0.60
Infosys 18.19 -0.17 -0.93
Tata Motor 21.35 0.30 1.43
Wipro 7.55 -0.05 -0.31

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.34 -0.01
Brent 68.54 -0.01
Gold 1827.75 -0.45
Silver 27.430 -0.86

FIIs & DII

Particulars   11th May.      10th May.
FIIs -336     583.69
DIIs -676.67   -476.26

Non-Nifty Results:

Pidilite Industries, Apollo Tyres, Tata Power, Voltas, Jindal Steel & Power, JSW Ispat Special Products, Birla Corporation, Borosil Renewables, Happiest Minds Technologies, HG Infra Engineering, Mahindra Lifespace Developers, Dwarikesh Sugar Industries, Avadh Sugar & Energy, GRM Overseas, Kennametal India, Lupin, Orient Electric, Prince Pipes And Fittings, Sagar Cements, Saregama India, Shanthi Gears, Sonata Software, Vaibhav Global

Godrej Consumer Products Q4FY21 (Cosolidated, QoQ) Revenues down 11% at Rs 2,730.74 crore Vs Rs 3,055.42 crore Net profit down 27% at Rs 365.84 crore Vs Rs 502.08 crore Ebitda down 21% at Rs 549 crore Vs Rs 693.45 crore Margins at 20.1% Vs 22.7%
Siemens Q2FY21 (Standalone, QoQ) Revenues up 16% at Rs 3,354.30 crore Vs Rs 2,901.10 crore Net profit up 13% at Rs 328.30 crore Vs Rs 290 crore Ebitda up 23% at Rs 483.70 crore Vs Rs 392.6 crore Ebitda margins at 14.42% Vs 13.53%

KEC International Q4FY21 (Consolidated, QoQ) Revenue up 33% at Rs 4,360.54 crore Vs Rs 3,289.23 crore Net profit up 34% at Rs 194.3 crore Vs Rs 145.07 crore Ebitda up 19% at Rs 354.55 crore Vs Rs 298.68 crore Ebitda margins at 8.1% Vs 9.1% Recommended a dividend of Rs 4 per share

News Update:

Mahindra & Mahindra:

Expects Q1 volumes to fall by 15-20% over last quarter as second Covid wave impacts business. The revenue and profitability will be impacted in line with the fall in volumes, the company said. It expects a temporary impact on the demand for vehicles and tractors from the second wave. A global shortage of chips used in vehicles has also hurt production.

NTPC: Gets exemption to use Drone for survey at Jharkhand mine

Dr Reddy’s Laboratories:

Has entered into a voluntary licensing agreement with Eli Lilly and Company for the manufacture and commercialisation of the drug, Baricitinib, in India. Baricitinib has received restricted emergency use approval from the Central Drugs Standard Control Organization for use in combination with Remdesivir for the treatment of Covid-19 patients.

Infosys:

Has announced a strategic collaboration with Britvic to accelerate their digital strategy. Infosys will provide end-to-end IT services and deliver a technology-driven approach to fulfil Britvic’s business goals and strategic digital transformation roadmap.

CG Power and Industrial Solutions:

Board has approved allotment of 1.38 crore shares, at Rs 73.10 each aggregating to Rs 101 crore, for consideration other than cash i.e. for settlement of liability of the company under the guarantee issued by it to Standard Chartered Bank (Singapore).

Dwarikesh Sugar Industries, Avadh Sugar & Energy, GRM Overseas, Kennametal India, Lupin, Orient Electric, Prince Pipes And Fittings, Sagar Cements, Saregama India, Shanthi Gears, Sonata Software, Vaibhav Global

Davangere Sugar: Approves rights issue of shares

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

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