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

Asian equities were muted at Thursday’s open after U.S. stocks closed off all-time peaks as a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings. Shares were up slightly in Japan, little changed in South Korea and lower in Australia. U.S. contracts edged higher after a slide in technology shares pulled benchmarks off record levels. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.32% to 14,641, as of 8:18 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: WPI Inflation (YoY) (Mar) on 15th April 2021
  • INR: Trade Balance (Mar) on 15th April, 2021
  • USD: Initial Jobless Claims on 15th April, 2021

Nifty Earnings: Wipro

Non-Nifty Results: Hathway Cable & Broadband, Tinplate Company of India

International Markets:

U.S & Europe

Particulars    14th Apr. Chg Chg(%)
Nasdaq 13857.84 -138.26 -0.99
Dow 33730.89 53.62 0.16
FTSE 6939.58 49.09 0.71
CAC 6208.58 24.48 0.4
DAX 15209.15 -25.21 -0.17
Dow Fut.* 33,675.00 51 0.15

 

Asian markets:

Particulars    15th Apr. Chg Chg(%)
SGX Nifty 14641.5 -46.75 -0.3
Nikkei 29657.66 36.67 0.12
Straits Times 3182.37 2.98 0.09
Hang Seng 28670.81 -230.02 -0.8
Shanghai 3386.59 -30.13 -0.88

 

ADR Watch

Particulars       14th Apr. Chg Chg(%)
Dr Reddy 63.08 0.37 0.59
HDFC Bank 70.53 1.32 1.91
ICICI Bank 14.76 0.11 0.75
Infosys 17.31 -1.1 -5.98
Tata Motor 20.05 0.39 1.98
Wipro 6.1 -0.16 -2.56

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.06 0.43
Brent 66.52 -0.08
Gold 1,736.40 0.40
Silver 24.47 -0.16

 

FIIs & DIIs

Particulars   13th Apr.       12th Apr.
FIIs -730.81                   -1,746.43
DIIs      243.80       232.76

Infosys Q4FY21 Result:

Revenue up 1% at Rs 26,311 crore Versus Rs 25,927 crore (Bloomberg Estimate: Rs 26,510 crore) Net profit down 3% at Rs 5,078 crore Versus Rs 5,215 crore (Bloomberg Estimate: Rs 5,171 crore) Ebit down 2% at Rs 6,440 crore Versus Rs 6,589 crore (Bloomberg Estimate: Rs 6,532 crore) Ebit margins at 24.5% Versus 25.4% (Bloomberg Estimate: 24.6%). Expects FY22 revenue to grow 12-14% in constant currency terms. Guides for operating margins to be in the range of 22-24% in FY22. Announces Rs 9,200 crore share buyback. The buyback price of Rs 1,750 per share is a 25.2% premium to Tuesday’s closing price. Infosys’ American Depository Receipts fell 6% in the early hours of trade on the back of the earnings disappointment.

News Update:

Bharti Airtel:

Announces new corporate structure to sharpen focus on Digital. The board has approved the scheme of arrangement between Bharti Airtel, Nettle Infrastructure Investments, Airtel Digital, Telesonic Networks and Airtel Ltd for the amalgamation of Nettle Infrastructure Investments, Airtel Digital and Telesonic Networks which are whollyowned subsidiaries with and into Bharti Airtel. The board also approved the demerger of the telecom business undertaking of the company and vesting of the same with Airtel Ltd.

Dr Reddy’s Laboratories:

To distribute 250 million doses of Sputnik V vaccine. In talks with the Indian government on pricing. The company expects to get delivery of Sputnik V this quarter. It has also lined up the cold chain for the vaccine. API & Services CEO Deepak Sapra said that the capacity for Sputnik V will be ramped up next quarter.

Aditya Birla Capital:

Board accords approval for Aditya Birla Sun Life AMC’s IPO. The company will sell 28.5 lakh shares of the face value of Rs 5 each that it holds in Aditya Birla Sun Life AMC out of the paid-up share capital of 28.8 crore shares through the IPO. Sun Life (India) AMC Investments, the company’s joint venture shareholder has also approved the sale of 3.6 crore shares of Aditya Birla Sun Life AMC. The proposed sale by both partners will constitute 13.5% of the total paid-up share capital.

UPL:

Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty, a subsidiary of the company. The class action, funded by a U.K.-based litigation funder, alleged that seeds sold by Advanta in 2010-11 to certain growers in the Queensland and New South Wales region of Australia, were contaminated.

Vedanta:

37.42 crore shares of the company were validly tendered in the voluntary open offer. The acquisition of the shares will be completed on or by April 16, 2021. Post this acquisition, the promoter shareholding in Vedanta will rise to 65.2% from 55.1%.

Tata Motors:

Group global wholesales up 43% year-on-year at 3,30,125 units. Global wholesales of all commercial vehicles and Tata Daewoo range up 55% year-on-year at 1,09,428 units. Global wholesales of all passenger vehicles rose 39% year-on-year at 2,20,697 units.

Happiest Minds Technologies:

Has entered into a strategic partnership with BeatRoute to solve typical revenue realisation problems faced by the Consumer Packaged Goods (CPG) industry.

NHPC:

Signs promoters agreement with Jammu and Kashmir State Power Development Corporation Ltd. and the government of the Union Territory of Jammu and Kashmir for 850 MW Ratle Hydro-electric Project. NHPC will hold a 51% stake in the JV company which will have an authorised share capital of Rs 1,600 crore. The board will initially comprise seven directors.

L&T Technology Services: To consider the final dividend for FY21 at its board meeting on May 3.

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

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report. For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy
of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators.
For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of an y company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale. Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011- 22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one %. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of publicappearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerag e services from the subject companyin the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerageservices from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report. 3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory