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

Asian stocks declined on Thursday after U.S.’s inflation surged above expectations at 8.3%, strengthening the case for aggressive monetary tightening. Shares fell in Japan, Australia and South Korea. U.S. futures slid after the S&P 500 fell to a 15-month low and the Nasdaq 100 shed over 3%.The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell over 1% to 15,991 points as of 6:40 a.m. Russia’s war in Ukraine and China’s Covid lockdowns are adding to supply shortages and soaring costs. Nymex crude halted slide to $105 per barrel. Elsewhere Bitcoin tumbled below $30,000 mark.

Economic Calendar:

  • INR: Trade balance on 13thMay
  • INR: CPI Inflation on 12th May 2022.
  • USD: Industrial Production 18th May, 2022.
  • USD: Retail Inventory 18th May, 2022.

Earnings Today: L&T, Tata Motors, Siemens, Tube Investments, Apollo Tyres, CreditAccess Grameen, Anupam Rasayan, Caplin Point, Greaves Cotton, Honeywell Automation, Mindspace Business Parks REIT, Gujarat State Petronet, Orchid Pharma, RBL Bank, Ujjivan Small Finance Bank, Welspun Enterprises

Q4Fy22 Earning:

Punjab National Bank Q4 FY22 (Standalone) Net interest income up 5% at Rs 7,304.13 crore Net profit fell 66% at Rs 201.57 crore GNPA 11.78% Vs 12.88% (QoQ) NNPA 4.8% Vs 4.9% (QoQ)
Indian Bank Q4 FY22 (Standalone) Net interest income up 28% at Rs 4,255.16 crore Net profit fell 42% at Rs 984.25 crore GNPA 8.47% Vs 9.13% (QoQ) NNPA 2.27% Vs 2.72% (QoQ) Recommended dividend of Rs 6.5 per share of face value of Rs 10 each
Cholamandalam Financial Q4 FY22 (Consolidated, QoQ) Revenue up 0.43% at Rs 3742.57 crore EBIT up 12.32% at Rs 1,985.52 crore EBIT margin at 53.05% vs 47.44% Net profit up 26.36% at Rs 686.73 crore Recommended dividend of Rs 0.55 per share
Birla Corporation Q4 FY22 (Consolidated, YoY) Revenue up 6.17% at Rs 2,264.21 crore EBITDA fell 29.5% at Rs 276.68 crore EBITDA margin 12.22% vs 18.38% Net profit fell 55.45% at Rs 111.08 crore Recommended dividend of Rs 10 per share
SKF India Q4 FY22 (Consolidated, YoY) Revenue up 22.6% at Rs 1039.01 crore EBITDA up 7.55% at Rs 159.44 crore EBITDA margin 15.35% vs 17.5% Net profit up 4.45% at Rs 109.48 crore Recommended final dividend of Rs 14.5 per share

Brokerage Radar:

MORGAN STANLEY ON PNB: EW, TP Rs 41 PAT 81% below MSe despite a big beat on costs (21% below MSe) This was owing to muted rev & a sharp increase in credit costs CET 1 ratio progression was weak, & declined 100bps QoQ Stay EW on valuation (0.3x F23 book).

CLSA ONHINDALCO: Upgrade to buy, TP cut to Rs 580 from Rs 695 Novelis: 1-offs drive miss Guidance: back to $500/t+ profitability Greenfield facility to generate $800/t+ profitability & debt to remain stable Est is pricing-in aluminium LME below $2000 (spot: $2800

International Markets:

U.S. & Europe:

Particulars 11th May Chg Chg(%)
Nasdaq 11,364.24 -373.43 -3.18
Dow 31834.11 -326.63 -1.02
FTSE 7,347.66 104.44 1.44
CAC 6,269.73 152.82 2.5
DAX 13,828.64 293.9 2.17
Dow Fut.* 31886.20  51.30 0.16

Asian markets:

Particulars 12th May Chg. Chg(%)
SGX Nifty 16,005.00 -162.5 -1.01
Nikkei 25,992.68 -220.96 -0.84
Straits Times 3,201.57 -24.5 -0.76
Hang Seng 19,652.89 -171.68 -0.87
Shanghai 3,059.96 1.26 0.04

ADR Watch:

Particulars 11th May Chg. Chg.(%)
Dr Reddy 49.62 -0.97 -1.92
HDFC Bank 53.35 -0.38 -0.71
ICICI Bank 18.18 -0.18 -0.98
Infosys 19.41 -0.35 -1.77
Tata Motor 24.46 -1 -3.93
Wipro 6.01 -0.21 -3.38

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.24 -0.12
Brent 106.29 -1.22
Gold 1852.35  -0.07
Silver 21.425  -0.70

FIIs & DII:

Particulars 11th May                           10th May
FIIs -3609.35                                    -3960.59                                   
DIIs 4181.20 2958.40

News Update

Adani Enterprises: The company has incorporated a wholly owned subsidiary Kutch Fertilizers to carry out business of manufacturing and trading of fertilizers of all kinds and other allied items required for agricultural.

Hindalco Industries: The company’s wholly owned subsidiary Novelis Inc. will invest $2.5 billion to build a new low-carbon recycling and rolling plant in Bay Minette, Alabama, USA. The facility will have an initial 600 kilotonnes of finished aluminum goods capacity per year.

Macrotech Developers: The company announced partnership with Bain Capital and Ivanhoé Cambridge to develop a green digital infra platform. The platform will jointly invest $1 billion to create 30 million square feet of operating assets in India. Each of the partners have 33% equity interest in the entity.

Power Grid: The company has acquired Khetri-Narela Transmission for Rs 22.5 crore.

KRBL: The company has been granted relief for income tax demand of Rs 97.88 crore and dismissed all the appeals for income tax demand of Rs. 1,170.36 crores.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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