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

Asian shares opened mixed Monday and U.S. equity futures dipped after stocks ended the week at all-time highs, with investors focusing on the economic recovery and upcoming earnings. Japan’s benchmark edged lower, while Australia and South Korea were in the green after the S&P 500 Index capped its fourth straight weekly advance. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 1.14% to 14,458, as of 8:08 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Deposit Growth on 23rd April, 2021
  • INR: Bank Loan Growth on 23rd April, 2021

Non-Nifty Results: ACC, Bajaj Consumer, CRISIL, ICICI Prudentia

HDFC Bank Q4FY21 Result:

Net profit up 18.17% at Rs 8,186.51 crore versus Rs 6,927.7 crore (Bloomberg Estimate: Rs 8,436 crore) NII up 12.6% at Rs 17,120 crore versus Rs 15,204 crore (Bloomberg Estimate: Rs 16,408.9 crore) GNPA at 1.32% versus 0.81% (QoQ) NNPA at 0.4% versus 0.09% (QoQ) Q3FY21 proforma GNPA: 1.38%, NNPA: 0.4% Approved one-time restructuring schemes for loans worth Rs 6,508.37 crore Floating provisions at  Rs 5,861 crore Deposits up 16.3% at Rs 13.35 lakh crore Term deposits up 8.5% at Rs 7.19 lakh crore.

International Markets:

U.S & Europe

Particulars    16th Apr. Chg Chg(%)
Nasdaq 14052.34 13.58 0.1
Dow 34200.67 164.68 0.48
FTSE 7019.53 36.03 0.52
CAC 6287.07 52.93 0.85
DAX 15459.75 204.42 1.34
Dow Fut.* 33,996.00 -84 -0.25

 

Asian markets:

Particulars    19th Apr. Chg Chg(%)
SGX Nifty 14458.20 -166 -1.14
Nikkei 29744.62 61.25 0.21
Straits Times 3206 4.24 0.13
Hang Seng 29081.71 112 0.39
Shanghai 3446.54 19.92 0.58

 

ADR Watch:

Particulars       16th Apr. Chg Chg(%)
Dr Reddy 65.01 0.88 1.37
HDFC Bank 71.81 0.3 0.42
ICICI Bank 15.22 -0.13 -0.85
Infosys 18.18 0.18 1
Tata Motor 20.51 0.34 1.69
Wipro 6.96 0.4 6.1

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.35     -0.76
Brent 66.44 -0.49
Gold 1,776.65     -0.20
Silver 25.87     -0.91

 

FIIs & DIIs

Particulars   16th Apr.       15th Apr.
FIIs 437.51       979.70
DIIs     657.55    -526.63

 

News Update:

Glenmark Pharmaceuticals:

The wholly-owned subsidiary of the company, Glenmark Life Sciences, has filed a draft red herring prospectus with the SEBI for an initial public offer. The offer comprises a fresh issue of up to Rs 1,160 crore and an offer for sale of up to 73.05 lakh shares of Rs 2 each of Glenmark Life Sciences, by Glenmark Pharmaceutical. The IPO will be subject to market conditions, receipt of applicable approvals and other consideration.

Kolte-Patil Developers:

Collections rose 16.8% year-on-year at Rs 442 crore in the March quarter. Sales volume gained 27.1% YoY at 0.85 million sq. ft. Sales value up 42.7% YoY at Rs 511 crore. The Q4 FY21 collections are the highest-ever in the company’s three-decade history. A strong focus on sales, registrations, construction and CRM has enabled strong recovery in collections. Further, the company has signed three new projects with a combined saleable area of 2.2 MSF in Pune under capital-light models.

Bharti Airtel:

The Government of Ghana, Millicom International Cellular S.A. and Bharti Airtel have executed the definitive agreement for the transfer of ‘AirtelTigo’ to the Government of Ghana on a going concern basis. In the proposed agreement, the Government of Ghana will acquire 100% shares of AirtelTigo along with all customers, assets and liabilities. Airtel had already written off its investment and provided for it in the prior accounts. No further provisions of any material nature are envisaged.

Coal India:

Incorporated two wholly-owned subsidiaries, viz. CIL Solar PV for manufacturing of solar value chain and CIL Navikarniya Urja for renewable energy.

NTPC:

To issue unsecured non-convertible bonds of Rs 3,996 crore on April 20 through a private placement at a coupon of 6.87% per annum. The bonds will mature on April 21, 2036. The proceeds from the issue will be utilised for funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on NSE.

Adani Green:

Says unit wins bid for 150mw solar power project at INR2.22/KWH for 25 years; to be commissioned by 3Q FY23

Grindwell Norton:

SG Shinagawa Refractories India, a joint venture between Shinagawa Refractories, Japan, and Grindwell Norton, has commenced its commercial operation of tap hole clay refractory products for the steel industry.

ISGEC Heavy Engineering:

Signed a project-specific collaboration pact with United Conveyor Corp., USA, for Dry Sorbent Injection technology.

NBFCs:

Non-banking finance companies (NBFCs) have requested the Reserve Bank to extend the one-time restructuring scheme of MSME advances till March 31, 2022, as these players are unable to revive their businesses.

Mindtree:

Q4FY21 Revenue up 4.23% at Rs 2,109.3 crore versus Rs 2,023.7 crore (Bloomberg estimate: Rs 2,096.8 crore) Net profit down 2.82% at Rs 317.3 versus Rs 326.5 crore (Bloomberg estimate: 303.8 crore) Ebit down 1.24% at Rs 391.3 crore versus Rs 396.2 crore (Bloomberg estimate: Rs 380.7 crore) Ebit Margin at 18.60% Versus 19.60% (Bloomberg Estimate: 18.15%).

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

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