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

Stocks and U.S. equity futures declined Monday, as the possibility of a de facto European Union embargo on Russian gas and the threat of curbs on oil led to surge in oil and natural gas prices. Treasury yields rose, as a jump in energy costs amid rising concerns over inflation concerns. Japanese shares fell, as did S&P 500 and Nasdaq 100 contracts. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell 0.20% to 17,293.50 points as of 6:45 a.m. Elsewhere, bitcoin fell below $40,000.

Economic Calendar:

  • INR: RBI MPC Meeting on 22nd April 2022.
  • INR: Bank Loan Growth on 22nd April 2022.
  • USD: IMF Meeting 18th April, 2022.
  • USD: Building Permit 18th April, 2022.

Quarterly Result Today:

Mindtree, SE Power, Star Housing

Q4Fy22 Earning:

Infosys Q4 FY22 (Consolidated, QoQ) Revenue up 1.28% at Rs 32,276 crore Vs Rs 31,867 (Bloomberg Estimate: Rs 32,726.90 crore) Net profit fell 2.1% at Rs 5,686 crore Vs 5,809 crore (Bloomberg Estimate: Rs 5,968 crore) EBIT fell 7% at Rs 6,956 crore Vs Rs 7,484 crore (Bloomberg Estimate: Rs 7,655 crore) EBIT Margins 21.5% Vs 23.5% (Bloomberg Estimate: 23%) Recommended dividend of Rs 16 per share.

HDFC Bank Q4FY22 (Consolidated, YoY) Net profit at Rs 10,055.18 crore, up 23% from Rs 8,186.51 crore (Bloomberg consensus estimate: Rs 10,269.6 crore) Net interest income at Rs 18,872.74 crore, up 10.2% from Rs 17,120.15 crore. Gross NPA at 1.17% in Q4 FY22 vs 1.26% QoQ Net NPA at 0.32% in Q4 FY22 vs 0.37% QoQ.

Brokerage Radar:

MORGAN STANLEY ON TATA POWER: Downgrade to UW, TP raised to Rs 244 With Green biz monetization & Mundra merger getting NCLT approval, stk lacks catalysts Further, given int coal prices our est factor in a goldilocks situation for both Mundra & Indonesian coal JV Prefer NTPC & ReNew.

MORGAN STANLEY ON NTPC : OW, TP Raised to Rs 186 from Rs 150 a) Being a play on India’s energy transition as it embarks building sizeable RE biz (being valued at 12x EV/EBITDA or Rs 18/sh) b) Improving thermal biz viz improving ESG metrics, time capacity commissioning & strong FCF yield.

CREDIT SUISSE ON HDFC BANK: Strong growth trends, NIMs remain soft Capital levels remain strong, with CET-1 at 16.7% Increase EPS by 2-3% With strong loan growth & contained credit costs, even as bank focuses on growing liabilities, expect RoEs of 16-17%,decline in NIM Expect as retail growth picks up and its loan mix improves, its NIM will only gradually recover Prefer ICICI, Axis & SBI over HDFC Bk.

CLSA ON INFOSYS: Buy, TP Rs 2040 Weak 4Q22 print; demand outlook strong but margins under pressure Cut FY23/FY24 EPS forecasts by 5%/4% – could dampen investor sentiment in near term However, stock’s 8% YTD underperformance limits downside

International Markets:

U.S. & Europe:

Particulars 14th Apr Chg Chg(%)
Nasdaq 13,351.08 -292.51 -2.14
Dow 34451.23 -113.36 -0.33
FTSE 7,616.38 35.58 0.47
CAC 6,589.35 47.21 0.72
DAX 14,163.85 87.41 0.62
Dow Fut.* 34357.50 -93.2 -0.27

Asian markets:

Particulars 18th Apr Chg. Chg(%)
SGX Nifty 17,253.50 -75.5 -0.44
Nikkei 26,596.66 -496.53 -1.83
Straits Times 3,318.54 -17.31 -0.52
Hang Seng 21,518.08 143.71 0.67
Shanghai 3,198.62 -12.62 -0.39

ADR Watch:

Particulars 14th Apr Chg. Chg.(%)
Dr Reddy 56.01 0 0
HDFC Bank 58.91 0 0
ICICI Bank 19.69 0 0
Infosys 20.46 0 0
Tata Motor 27.75 0 0
Wipro 7 0 0

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.18 0.06
Brent 112.48 0.77
Gold 1983.50 0.44
Silver 26.04 1.32


Particulars  13th Apr  12th Apr
FIIs -2061.04 -3128.39
DIIs 1410.85 870.01

News Update

Future Retail: Company says that Bank of India has initiated insolvency proceedings against the company, under IBC at NCLT.

Tata Steel: To consider share split on May 3. Firm to also announce its quarterly earnings on May 3.

Tata Power: Blackrock-led group signs binding agreement with Tata Power’s renewable energy. The group will invest Rs 4,000 crore by way of equity or compulsorily convertible instruments.

JSW Steel: The company has redeemed senior unsecured fixed rate notes aggregating to $500 million.

RITES: Power Mech Projects JV has emerged as lowest bidder for construction of Depot cum Workshop at Challaghatta Depot of Bangalore Metro Rail Project. The order value is Rs. 499.41 crore.

Bharat Forge: The company plans to sell 3-year bonds of upto Rs 200 crore, Bloomberg reported. Ambuja Cement: The company’s shareholder Holcim is considering a potential sale of its stake. Holcim controls 63.1% of the company.

Den Networks: Q4 net income at Rs 49.97 crore vs Rs 36.98 crore YoY

ICICI Prudential Life: Q4 net income at Rs 185 crore vs Rs 63.78 crore YoY

       Source: Moneycontrol, Livemint,, Bloomberg, Investing

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