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

Asian stocks tracked U.S. declines Wednesday as concern about faster inflation shadows the economic recovery from the pandemic. A dollar gauge was near the lowest level this year. Japanese and Australian shares slid after key U.S. equity benchmarks closed lower and large technology stocks like Inc. and Microsoft Corp. erased gains. Contracts on the S&P 500 and Nasdaq 100 were in the red.

The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.64% to 15,063.0 as of 7:55 a.m.

A slide in crude on the possibility of more supply from Iran hurt energy stocks overnight. Treasury yields were steady.

Key Data/ Action, Result, 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: FOMC Meeting Minutes on 19th May, 2021
  • USD: Crude oil Inventories on 19th May,2021

Non-Nifty Results: Angel, Endurance, JKTYRE, IRFC, PRSM Johnson, IOC,Gravita, Heritage Food,

International Markets:

U.S & Europe

Particulars    18th May. Chg Chg(%)
Nasdaq 13,303.64 -75.41 -0.56
Dow 34060.66 -267.13 0.78
FTSE 7,034.24 1.39 0.02
CAC 6,353.67 -13.68 -0.21
DAX 15,386.58 -10.04 -0.07
Dow Fut.* 33,895.00 -101 -0.3

Asian markets:

Particulars    19th May. Chg Chg(%)
SGX Nifty 15,063.00 -97.5 -0.64
Nikkei 27,977.84 -429 -1.51
Straits Times 3,130.16 -12.47 -0.4
Hang Seng 28,593.81 399.72 1.42
Shanghai 3,510.17 -18.84 -0.53

ADR Watch:

Particulars       18th May. Chg Chg(%)
Dr Reddy 71.75 -0.25 -0.35
HDFC Bank 73.99 2.34 3.27
ICICI Bank 17.18 0.13 0.76
Infosys 18.26 0.09 0.50
Tata Motor 21.91 0.01 0.05
Wipro 7.45 0.14 1.92

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.05 -0.23
Brent 68.02 -1.00
Gold 1866.80 -0.06
Silver 28.073 -0.92


Particulars   18th May. 17th May.
FIIs 618.49 -2255.84
DIIs 449.52 1948.48


Tata Motors Q4FY21 (Consolidated, QoQ) Revenue up 17% at Rs 88,628 crore Vs Rs 75,654 crore (Bloomberg estimate: Rs 87,517 crore) Net loss of Rs 7,585 crore Vs Net profit of Rs 2,941 crore (estimate: Rs 2,774 crore Profit) Ebitda at Rs 12,745 crore Vs 11,509 crore (estimate :Rs 11,210 crore) Margins at 14.4% Vs 15.2% (estimate: 12.8%)

Torrent Pharmaceuticals Q4FY21 (Consolidated, QoQ) Revenue down 3% at Rs 1,937 crore Vs Rs 1,995 crore Net profit up 9% at Rs 324 crore Vs Rs 297 crore Ebitda down 4% at Rs 582 crore Vs Rs 607 crore Ebitda Margins at 30% vs 30.4% Recommended a final dividend of Rs 15 per share Had one-time tax benefit of Rs 53 crore under the CARES Act enacted by the U.S. Government in March 2020 in response to Covid -19 pandemic To raise up to Rs 5000 crore via issuance of shares

GlaxoSmithKline Pharmaceuticals Q4FY21 (Consolidated, QoQ) Revenue down 5% at Rs 813.75 crore Vs Rs 857.20 crore Net profit down 91% at Rs 14.33 crore Vs Rs 156.51. Recommended a dividend of Rs 30 per share. The record date for the same is July 20.

Brokerage Radar:


Maintain BUY at the Target Price of Rs,450.FCF generation at JLR & India continues to surprise positively.FY21 FCF at Rs5300 crore Despite COVID-related Disruptions. Management Expects strong volume & FCF to Resume in H2FY22.


Maintain BUY at the Target price of Rs.395 Domestic Business reported a strong Q4 but JLR performance slightly weak. There are Near-Term Headwinds for Both Biz. Underlying growth Drivers are intact & recovery is seen over H2FY22


Maintain REDUCE at the Target Price of Rs.313. Q4 Ahead on lower marketing Spends for JLR.Lower marketing spending seen in near Term.Debt Reduction Positives; Lack of EVs a long-term concern for JLR.


Maintain UNDERPERFORM at the Target Price of Rs.2416.FY22 growth will be Driven by India Rebound in H1.Company expects US to be Stable with launches compensating for price erosion,Estimate of FY21-23 EPS CAGR of 17.2% is Driven by continued Deleveraging.

News Update:

Axis Bank:

Specified Undertaking of the Unit Trust of India to sell 1.95% of the bank’s equity through an Offer for Sale. The initial plan is for the sale of 3.60 crore shares or 1.21% of the total equity with a greenshoe option to sell another 2.20 crore shares or 0.74% of the total equity. The floor price of Rs 680 per share is at a 4.48% discount to Tuesday’s closing price. The OFS opens for non- retail investors today and for retail investors tomorrow.

JSW Energy:

The wholly-owned subsidiary of the company, JSW Hydro Energy, has raised $707 million by allotment of dollar-denominated senior secured notes.

Infosys, Majesco:

Announced strategic collaboration to help joint customers accelerate their digital transformation journey, enabling them to unlock new opportunities, address the demand for personalised customer experiences, operational effectiveness, and digital adoption across the insurance business value chain.

Kirloskar Oil Engines:

Suspended operations at main Kagal Plant, Kagal Plant-II and KMW Kagal Plant-III in Kolhapur to comply with District Collector’s covid order. The plants will remain shut between May 18-23.

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

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