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

Stocks and U.S. futures advanced Friday as investors assess the impact of tightening monetary policy on tackling elevated inflation. Equities rose in Japan, South Korea, Australia after a volatile session on Wall Street, which saw the S&P 500 session rebound to close little changed. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose nearly 1% to 15,966.50 points as of 6:40 a.m. Concerns about an economic slowdown continue to support the dollar and sovereign bonds. while the bitcoin, down about 39% in 2022, was trading near $28,000. Elsewhere, oil hovered around $107 a barrel and wheat prices rallied..

Economic Calendar:

  • INR: Trade balance on 13thMay
  • INR: Forex Reserve on 13th May 2022.
  • USD: Industrial Production 18th May, 2022.
  • USD: Retail Inventory 18th May, 2022.

Earnings Today: Tech Mahindra, Eicher Motors, State Bank of India, Alkem Laboratories, Bank of Baroda, Hindustan Aeronautics Ltd., Bandhan Bank, Gujarat Fluorochemicals, Escorts, Emami, Carborundum, JK Paper, CESC, Nazara Technologies, DB Corp, Sharda Cropchem, Steel Strips Wheels.

Q4Fy22 Earning:

Larsen & Toubro Q4 FY22 (Consolidated, YoY) Revenue up 9.9% at Rs 52,850.67 crore EBITDA fell 20.53% to 6,520.52 crore EBITDA margin at Rs 12.34% vs 17.06% Net profit up 11.98% at Rs 4,138.47 crore Recommended final dividend of Rs 22 per share

Tata Motors Q4 FY2022 (Consolidated, YoY) Revenue down 11% at Rs 78,439 crore EBITDA down 32% at Rs 8,726 crore EBITDA margins at 10.6% vs 14.4% Net loss shrinks to Rs 1,033 crore

Siemens Q4 FY22 (Consolidated, QoQ) Revenue up 11.37% at Rs 3,954.7 crore EBIT up 43.14% at Rs 404.80 crore EBIT margin at 10.24% vs 7.96% Net profit up 36% at Rs 340 crore

Tube Investments Q4 FY22 (Consolidated, YoY) Revenue up 25% at Rs 3,414.96 crore EBITDA up 29.6% at Rs 359.04 crore EBITDA margin at 10.51% vs 10.14% Net profit up 57.45% at Rs 225.22 crore Recommended final dividend of Rs 1.5 per share

Apollo Tyres Q4 FY22 (Consolidated, YoY) Revenue up 11% at Rs 5,578.31 crore EBITDA fell 23.11% at Rs 626.34 crore EBITDA margin at 11.23% vs 16.21% Net profit fell 60.51% at Rs 113.45 crore Recommended final dividend of Rs 3.5 per share

Brokerage Radar:

MORGAN STANLEY ON AB CAPITAL: OW, TP Rs 140 Consol PAT 10% ahead of MSe In lending biz. asset quality saw sharp improvement QoQ Co is guiding to more resolutions & 20% loan growth in FY23 Also guiding to new premium growth of 18-20% in FY23 for life insurance

JP MORGAN ON RBL BANK: Neutral, TP cut to Rs 110 from Rs 170 Against backdrop of higher opex, NIM trajectory will be key for RBL to achieve >1% ROA While stock looks cheap at 0.4x F24 PB, it could remain capped given single digit ROE profile & uncertainty around new CEO appointment.

MORGAN STANLEY ON L&T: OW, TP cut to Rs 1848 vs Rs 2094 Believe markets will like strong core order inflow +55%, core margin guidance of 9.5% despite commodity uncertainty & 5yr strategic plan Lower EPS est by 4-5% over F23-24e & EBITDA forecasts for its core biz by 3-5%

International Markets:

U.S. & Europe:

Particulars 12th May Chg Chg(%)
Nasdaq 11,370.96 6.72 0.06
Dow 31730.00 -103.81  -0.33
FTSE 7,233.34 -114.32 -1.56
CAC 6,206.26 -63.47 -1.01
DAX 13,739.64 -89 -0.64
Dow Fut.* 31967.20  237 0.75

Asian markets:

Particulars    13th May    Chg. Chg(%)
SGX Nifty 15,965.50 149 0.94
Nikkei 26,421.84 673.12 2.61
Straits Times 3,206.16 40.98 1.29
Hang Seng 19,701.38 321.04 1.66
Shanghai 3,064.30 9.31 0.3

ADR Watch:

Particulars     12th May Chg. Chg.(%)
Dr Reddy 50.25 0.63 1.27
HDFC Bank 52.8 -0.55 -1.03
ICICI Bank 17.88 -0.3 -1.65
Infosys 19.53 0.12 0.62
Tata Motor 24.12 -0.34 -1.39
Wipro 6.22 0.21 3.49

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.42   0.23
Brent 108.88 1.33
Gold 1825.45  0.04
Silver 20..825   0.25

FIIs & DII:

Particulars 12th May                           11th May
FIIs -5255.75                                   -3960.59                                   
DIIs 4815.64 2958.40

News Update

NHPC/Adani Infra/Tata Power: NHPC issued contracts worth Rs 6,604.42 crore for development of grid-connected solar PV projects of 1,000 MW capacity and transmission line for power evacuation. – Adani Infra was awarded contract for 600 MW capacity worth Rs 4,295 crore in Gujarat.
Wipro: The company announced a five-year strategic engagement with Scania to transform the digital workplace.

Sun Pharma: The company received final approval from US FDA for its Abbreviated New Drug Application for generic Mesalamine extended release capsules.

Indiabulls Housing Finance: Raised reference rates on housing loans and loans against property by 40 basis points. The new rates will be applicable for existing borrowers from June 1.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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