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

Stocks in Asia and U.S. futures rose Tuesday amid a series of measures announced by China’s central bank to spur growth and the prospect for faster tightening by the U.S. Federal Reserve. Equities rose in Japan, Australia and South Korea. U.S. futures gained after stocks ended little changed on Monday. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose 0.12% to 17,246.50 points as of 6:45 a.m. The dollar held an advance. The yen is in the midst of a multi-decade losing streak. Oil traded around $108 a barrel while Bitcoin jumped to $41,000.

Economic Calendar:

  • INR: RBI MPC Meeting on 22nd April 2022.
  • INR: Bank Loan Growth on 22nd April 2022.
  • USD: API weekly crude 20th April, 2022.
  • USD: Crude Oil Inventories 20th April, 2022.

Quarterly Result Today:

ACC, Mastek

Q4Fy22 Earning:

Mindtree Q4 FY22 (Consolidated, QoQ) Revenue up 5.4% at Rs 2,897.4 crore Vs Rs 2,750 crore Net profit up 8% at Rs 473.1 crore Vs Rs 437.5 crore EBIT up 3.8% at Rs 548.7 crore Vs Rs 529 crore EBIT Margin 18.94% Vs 19.23% Declared a final dividend of Rs 27 per share of face value of Rs.10.

Brokerage Radar:

ANTIQUE ON NMDC: Buy, TP Rs 226 Aided by firm international prices & strong domestic demand, co has announced 4 price hikes totalling Rs 1,100/tonne for iron ore fines & Rs 1,200 for iron ore lumps Commissioning of steel plant by 3QFY23 & de-merger would improve return ratios.

MORGAN STANLEY ON PRESTIGE: OW, TP Rs 612 Prestige has started on a new asset-creation cycle across commercial and residential projects. F2023 should be an important year for expansion in the Mumbai market. Net debt management remains key area of concern.

NOMURA ON MINDTREE: Neutral, TP Rs 4320 Robust growth continues Headcount signals strong growth will continue 4QFY22 Q4 meets expectations broadly, with slight beat at revenues…and slight miss at margin levels

MORGAN STANLEY ON MINDTREE EW, TP cut to Rs 4450 from Rs 5100 In-line 4Q results, constructive management commentary on F23 growth outlook and reiteration of 20%+ EBITDA margins were key positives. Despite volatile macro, Street EPS est appear achievable

International Markets:

U.S. & Europe:

Particulars 18th Apr Chg Chg(%)
Nasdaq 13,332.36 -18.72 -0.14
Dow 34411.69 -39.54 -0.11
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.* 34479.5 68.10      0.19

Asian markets:

Particulars 19th Apr Chg. Chg(%)
SGX Nifty 17,246.50 20.5 0.12
Nikkei 26,830.82 31.11 0.12
Straits Times 3,321.37 18.3 0.55
Hang Seng 20,907.54 -610.54 -2.84
Shanghai 3,191.55 -3.97 -0.12

ADR Watch:

Particulars 18th Apr Chg. Chg.(%)
Dr Reddy 55.32 -0.69 -1.23
HDFC Bank 54.25 -4.66 -7.91
ICICI Bank 19.55 -0.14 -0.71
Infosys 20.56 0.1 0.49
Tata Motor 28.55 0.8 2.88
Wipro 6.9 -0.1 -1.43

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.26 0.11
Brent 113.92 0.66
Gold 1979.90 -0.32
Silver 26.008 -0.54

FIIs & DII:

Particulars 18th Apr 13th Apr
FIIs -6387.45 -2061.04
DIIs 3341.96 1410.85

News Update

Wipro: Appointed Satya Easwaran as country head for India.

Sanofi: The company appointed Rodolfo Hrosz as the Managing Director for three years with effect from June 1.

Mindtree/L&T Infotech: Reports about their merger are speculative, the companies said in an exchange filing.

Mishtann Foods: Approves issue of bonus shares in 1:1 ratio.

SJVN: The company has achieved financial closure by signing of loan agreement amounting to Rs 494 crore with Himachal Pradesh State Co-Operative Bank for development of 66 MW Dhaulasidh REP in Himachal Pradesh. The total project cost is Rs 688 crore.

Rail Vikas Nigam/Coal India: Rail Vikas Nigam signed memorandum of understanding with Mahanadi Coalfields, a subsidiary of Coal India, to consult on rail infrastructure works of the miner.

Ujjivan Financial Services: The bank appointed Radhakrishnan Ravi as the chief executive officer and chief financial officer, effective from April 19.

Indraprastha Gas Ltd: The company has received a letter from the Petroleum and Natural Gas Regulatory Board for development of a city gas distribution network in Banda, Chitrakoot and Mahoba districts of Uttar Pradesh.

Kirloskar Electric: Says its Tumkur, Karnataka unit extended layoff period of 14 staff out of 77 till June 10.

TVS Motor: Jwalamukhi Investment has sold 3.3 million shares of the Chennai-based automaker.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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