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

Asian stocks rose on Tuesday amid signs of an economic slowdown due to pandemic-induced curbs, inflation, and tightening monetary settings. The Japanese markets advanced, U.S. and European futures rebounded after Wall Street logged losses on Monday. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose nearly 0.20% to 15,872 points as of 7:00 am. Commodity costs continue to climb with oil rising to $114 a barrel while Bitcoin hovered around $30,000.

Economic Calendar:

  • INR: WPI Inflation on 17thMay
  • INR: RBI MPC Minutes on 18th May 2022.
  • USD: Industrial Production 18th May, 2022.
  • USD: Retail Inventory 18th May, 2022.

Earnings Today: Bharti Airtel, DLF, Dr Lal Path Labs, Minda Corporation, Abbott India, Automotive Axles, Bajaj Electricals, EID Parry (India), EKI Energy Services, Galaxy Surfactants, GMR Infrastructure, Indoco Remedies, Indian Oil, IRB Infrastructure Developers, Jubilant Ingrevia, Kajaria Ceramics, Kirloskar Ferrous Industries, Nocil, PI Industries, Sapphire Foods India, Sun Pharma Advanced Research, Star Cement, Zydus Wellness.

Q4Fy22 Earning:

GSK Pharma: Q4 FY22 (Consolidated, YoY) Revenue up 8.76% at Rs 809.63 crore EBITDA up 11.83% at Rs 175.22 crore EBITDA margin 21.64% vs 21.05% Net profit up 8,400% at Rs 1,219.05 crore Recommended dividend of Rs 90 per share
Multi Commodity Exchange of India Q4 FY22 (Consolidated, QoQ) Revenue up 18.8% at Rs 106.46 crore EBIT up 60% at Rs 50.50 crore EBIT margin 47.44% vs 35.23% Net profit fell 5% at Rs 36.53 crore Recommended final dividend of Rs 17.4 per share

Raymond Q4 FY22 (Consolidated, YoY) Revenue up 43% at Rs 1,958.1 crore EBITDA up 84% at Rs 284.40 crore EBITDA margin 14.52% vs 11.33% Net profit up 366% at Rs 263.31 crore Recommended dividend of Rs 3 per share

PDS Q4 FY22 (Consolidated, YoY) Revenue up 57% at Rs 2,775.43 crore EBITDA up 6.2% at Rs 102.94 crore EBITDA margin 3.71% vs 5.5% Net profit up 27.87% at Rs 77.13 crore Recommended final dividend of Rs 23.85 per share

Brokerage Radar:

UBS ON BHARAT FORGE: Buy, TP Rs 900 Q4FY22 – Beat; preferred cyclical play with fx/ defense tailwinds Expect co to benefit from both domestic CV demand recovery & strong export outlook. Defense close to fruition & order can lead to significant revenue surprise.

CREDIT SUISSE ON AB CAPITAL: O-P, TP cut to Rs 130 Strong customer acquisition & retail pivot driving improvement in growth & profitability Increase FY23 EPS by 6% Retain O-P as strong growth in customer base (+46% YoY to 35 mn) is driving improvement in retail growth & profitability.

MACQUARIE ON LIC: Initiate Neutral, TP Rs 1000 Volatility in EV worries us. Large part is constituted by equity MTM gains Scaling up non-par book a challenge; our assumptions already aggressive

International Markets:

U.S. & Europe:

Particulars 16th May Chg Chg(%)
Nasdaq 11,662.79 -142.21  -1.2
Dow 32223.42 26.76 0.08
FTSE 7,464.80 46.65 0.63
CAC 6,347.77 -14.91 -0.23
DAX 13,964.38 -63.55 -0.45
Dow Fut.* 32223.42  54.80 0.17

Asian markets:

Particulars 17th May Chg. Chg(%)
SGX Nifty 15,872.50 29 0.18
Nikkei 26,601.03 53.98 0.2
Straits Times 3,205.93 14.77 0.46
Hang Seng 20,260.48 310.27 1.56
Shanghai 3,062.38 -11.37 -0.37

ADR Watch:

Particulars     16th May Chg. Chg.(%)
Dr Reddy 50.68 -0.18 -0.35
HDFC Bank 53 -0.12 -0.23
ICICI Bank 17.71 0.04 0.23
Infosys 18.94 -0.51 -2.62
Tata Motor 26.09 -0.3 -1.14
Wipro 6.15 -0.07 -1.13

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.45 0.00
Brent 113.96 -0.18
Gold 1824.21 0.57
Silver 21.613   0.29

FIIs & DII:

Particulars 16th May                           13th May
FIIs -1788.93                          -3780.08                          
DIIs 1428.39 3169.62

News Update

SJVN: The company has signed a memorandum of understanding for development of 490 MW Arun-4 project in Nepal.

Aditya Birla Capital: The company said an independent committee investigating a whistleblower complaint did not find any merit in allegations made against Aditya Birla Sun Life and its employees.

KEC International: The company has received new orders of Rs 1,147 crore across its various businesses.

Steel Exchange India: The company approved the proposal of splitting equity shares from face value of Rs 10 to Rs 1 each.

Max Healthcare Institute: Approves merger of units Alps, Max Hospitals

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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