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

Asian stocks opened firmer Tuesday as investors weighed a pick-up in virus cases in the region against the pace of economic growth as economies reopen. U.S. futures rose. Benchmarks climbed in Japan, Australia and South Korea. Nasdaq 100 futures outperformed. Earlier, technology and communication services stocks led the benchmark S&P 500 lower, while energy shares rose.

The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 1.12% to 15,113 as of 8:02 a.m.

Oil held an advance to a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.

Key Data/ Action, Result,IPO and Board meeting to watch

Major economic Data:

  • INR: Deposit Growth YoY MAY on 21st May, 2021
  • INR: Bank Loan Growth YoY MAY on 21st May, 2021
  • USD: Building Permits (Apr) on 18th May, 2021
  • USD: Crude oil Inventories on 19th May,2021

Nifty Results: TATA Motors

International Markets:

U.S & Europe

Particulars    17th May. Chg Chg(%)
Nasdaq 13,379.05 -50.93 -0.38
Dow 34327.79  -54.34 -54.34
FTSE 7,032.85 -10.76 -0.15
CAC 6,367.35 -17.79 -0.28
DAX 15,396.62 -20.02 -0.13
Dow Fut.* 34,355.00 99 0.29

Asian markets:

Particulars    18th May. Chg Chg(%)
SGX Nifty 15,113.50 167.5 1.12
Nikkei 28,399.34 574.51 2.06
Straits Times 3,123.11 43.42 1.41
Hang Seng 28,574.28 380.19 1.35
Shanghai 3,521.16 3.54 0.1

ADR Watch:

Particulars       17th May. Chg Chg(%)
Dr Reddy 72.0 0.00 0.00
HDFC Bank 71.65 1.57 2.24
ICICI Bank 17.05 0.51 3.08
Infosys 18.17 0.01 0.06
Tata Motor 21.90 0.66 3.11
Wipro 7.31 -0.08 -1.08

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.21 -0.10
Brent 69.56 0.14
Gold 1870.40 0.15
Silver 28.633 1.27

FIIs & DII

Particulars   17th May. 14th May.
FIIs -2255.84 -2607.85
DIIs 1948.48 613.26

 

Non-Nifty Results:

Aarti Industries, Abbott India, Astral, Brigade Enterprises, Canara Bank, Chalet Hotels, GlaxoSmithKline Pharmaceuticals, Gujarat Alkalies & Chemicals, Jyothy Labs, Manappuram Finance, Minda Corp, PI Industries, Torrent Pharmaceuticals.

Bharti Airtel Q4FY21 (Consolidated, QoQ) Revenues down 2.9% at Rs 25,747.3 crore Vs Rs 26,517.8 crore (BBG Estimate: Rs 26,165 crore) Net profit down 11.1% at Rs 759.2 crore Vs Rs 853.6 crore (BBG Estimate: Rs 958.8 crore) Ebitda up 2.3% at Rs Rs 12,331.9 crore Vs Rs 12,053 crore (BBG Estimate: Rs 12,626 crore) Ebitda margin at 47.9% Vs 45.5% (BBG Estimate: 48.3%) Overall customer base stands at 471 million across 16 countries Total Capex spend for the quarter of Rs 6,846 crore

Gland Pharma Q4FY21 (Consolidated, QoQ) Revenue up 3% at Rs 887.70 crore Vs Rs 859.40 crore Net profit up 28% at Rs 260.40 crore Vs Rs 204.10 crore Ebitda up 24% at Rs 327.60 crore Vs Rs 264.10 crore Ebitda margin at 36.9% Vs 30.7%.

Brokerage Radar:

CLSA on Bharti Airtel: Maintain Buy at the Target Price of Rs.730.Gained more than expected 4G Data Subscriberjio on most metricss. ARPU, Net of IUC, Although was Down 0.8% Q-o-Q/up 7.4% Y-o-Y.4G Penetration of 56% of its own subscribers Assures growth.

CITI on Bharti Airtel: Maintain Buy at the Target price of Rs.685Q4 overall in Line;India Mobile EBITDA A shade Below.Adj Pre-tax profit of Rs.1580 Cr ahead of our Estimate. Profit Boosted by Rs.440 cr of Net Exceptional Gains.

UBS on Bharti Airtel: Maintain Buy at the Target Price of Rs.655.A Healthy set of results with co outperforming  jio on most metrics.Impact of COVID on Subscriber Adds & ARPUs key monitorable Going Ahead.

News Update:

Bharat Forge:

To purchase a 49% stake in its subsidiary, Kalyani Strategic Systems, for Rs 32.97 crore. Currently, the company holds a 51% stake in KSSL. After this acquisition, KSSL shall become a wholly-owned subsidiary of the company.

HCL Technologies:

Announced expansion of investment in the United Kingdom with the hiring of 1000 technology professionals to support its clients in the U.K. and around the world.

Zuari Agro Chemicals:

Company said its Goa fertiliser plant has been hit by the cyclonic storm Tauktae. It is assessing damages by the cyclone to the plant. There could be a potential delay in restarting ammonia, urea plants.

Kotak Mahindra Bank:

Acquired 1.3 crore equity shares, representing 46.7% of the issued and paid-up equity share capital of Kotak Mahindra Pension Fund Limited from Kotak Mahindra Asset Management Company Limited for Rs 12.71 crore. After this acquisition, the bank’s shareholding in KMPFL will increase from 4.3% to 51%. Also, KMPFL has now become a direct subsidiary of the bank.

Strides Pharma Sciences:

Promoter pledge reduced by 38%. Currently, the overall promoter group pledge stands at 25.98% of the promoter holding and 7.71% of the paid-up capital of the company as compared to 41.96% of the promoter holding and 12.45% of the paid-up capital as of May 7.

Hemisphere Properties India:

Board has allotted 10 crore Non-Cumulative Redeemable Preference Shares of Rs 10 each at par aggregating to Rs 100 crore on a private placement basis to the Promoter President of India.

Upcoming IPO:

Krsnaa Diagnostic seeks Sebi Approval for IPO

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

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