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

Asian stocks were steady early Tuesday as traders await gauges of manufacturing activity and key American jobs data later in the week to help assess the economic outlook. Shares fluctuated in Japan, South Korea and Australia. S&P 500 and Nasdaq 100 futures edged lower following a U.S. holiday. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.3% to 15,627 as of 8:32 a.m. The offshore yuan trimmed a retreat sparked by China forcing banks to keep more foreign currencies in reserve for the first time in over a decade, its most substantial move yet to rein in a surging currency.Oil climbed as OPEC and its allies forecast that inventories will fall sharply this year if the group sticks to its current plan. Gold had its biggest monthly advance since July and most industrial metals gained.

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

Major economic Data:

  • INR: Nikkei Markit Manufacturing PMI (May) on 1st June, 2021
  • INR: Trade Balance (May) on 1st June, 2021
  • USD: ISM Manufacturing PMI (May) on 1st June, 2021
  • USD: ADP Nonfarm Employment Change (May) on 3rd June, 2021

Earnings to Watch:

Earnings: ITC, Gujarat Gas, Radico Khaitan, Balrampur Chini Mills, Emami Paper, Salasar Techno and R.P.P. Infra Projects

International Markets:

U.S & Europe

Particulars    28th May. Chg Chg(%)
Nasdaq 13,748.74 12.46 0.09
Dow 34529.45 64.81 0.19
FTSE** 7,022.61 2.94 0.04
CAC** 6,447.17 -36.94 -0.57
DAX 15,421.13 -98.85 -0.64
Dow Fut.* 34488 -0.25 -0.07

Asian markets:

Particulars    1st June. Chg Chg(%)
SGX Nifty 15,627.00 47 0.3
Nikkei 28,693.97 -166.11 -0.58
Straits Times 3,164.70 0.42 0.01
Hang Seng 29,163.77 11.97 0.04
Shanghai 3,593.50 -21.98 -0.61

ADR Watch:

Particulars       28th May. Chg Chg(%)
Dr Reddy 71.37 -0.85 -1.18
HDFC Bank 76.53 0.9 1.19
ICICI Bank 18.01 -0.16 -0.88
Infosys 19.34 -0.03 -0.15
Tata Motor 21.73 -0.45 -2.03
Wipro 7.93 0.01 0.13

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR         72.61 0.23
Brent 70.16 1.21
Gold 1914.2 0.47
Silver 28.328 1.12

FIIs & DII

Particulars      31st May.    28th May.
FIIs 2412.39  913.59
DIIs 179.78 1275.22

Results:

Narayana Hrudayalaya Q4FY21 (Consolidated, QoQ) Revenue up 12% at Rs 837.70 crore Vs Rs 750.30 crore Net profit up 67% at Rs 68 crore Vs Rs 40.80 crore Ebitda up 35% at Rs 141.30 crore Vs Rs 104.80 crore Ebitda margin at 16.9% Vs 14%

Jamna Auto Industries Q4FY21 (Consolidated, QoQ) Revenue up 35% at Rs 464.40 crore Vs Rs 343.26 crore Net profit up 58% at Rs 47.50 crore Vs Rs 30.05 crore Ebitda up 3% at Rs 63.55 crore Vs Rs 61.88 crore Ebitda margin at 13.7% Vs 18% Recommended a final dividend of 0.50 paisa per share

Honeywell Automation Q4FY21 (Consolidated, QoQ) Revenue down 23% at Rs 672.70 crore Vs Rs 874.16 crore Net profit down 31% at Rs 104.02 crore Vs Rs 149.89 crore Ebitda down 31% at Rs 129.16 crore Vs Rs 187.55 crore Ebitda margin at 19.2% Vs 21.5% Recommended a dividend of Rs 85 per share

News Update:

Jammu & Kashmir Bank: To consider the proposal of capital infusion in the bank by the state government as its promoter shareholder to the extent of Rs 500 crore on June 4.

Magma Fincorp: Appointed Adar Poonawalla as the Chairman and Abhay Bhutada as the Managing Director of the company. Vijay Deshwal will take charge as CEO from the first week of July. Deshwal will also be the Group CEO of Poonawalla Group’s financial services business.

Canara Bank: SK Majumdar, General Manager of the bank, has been designated as Chief Financial Officer effective May 31.

Trent: Allotted 5,000 unsecured, redeemable NCDs of Rs 10 lakh each aggregating to Rs 500 crore on a private placement basis.

NHAI Plans Model Stretches Of Highways In Every State: NHAI is planning to develop 57 stretches of national highway (1735 km) across the length and breadth of the country near each state capital, the agency said in a release. The aim is to exhibit the model stretches of National Highways and also use it as a platform to educate the highway engineers of the country, including state PWD engineers, NHAI said. Some of the NH sections identified for development as model stretches are Dausa to Jaipur, Jalandhar to Amritsar, Srinagar to Banihal, Varanasi Ring Road, Chennai Bypass, MP/MH border to Nagpur including Nagpur Bypass, Brahmputra Bridge to Guwahati.

 Piyush Goyal On Startups: Commerce minister Piyush Goyal has said most startups will be eligible for additional liquidity and funding under the credit and funding support announced for MSMEs under the Aatmanirbhar Bharat Abhiyan package. Goyal told CNN News18 that the government is ready to support stressed startups. “Most of the startups will be eligible for additional liquidity and funding under the Rs 3 lakh crore, 100% credit guarantee credit facilities under the Aatmanirbhar Bharat package,” Goyal said in an interview with the channel on Saturday.

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

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.

For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.Company-Specific Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in , or e-mailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person. Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage. Country Specific Disclosures India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking
or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory
Provided that research analyst or research entity shall not be required to make a disclosure as per sub-clauses (c), (d) and (e) of clause (ii) or sub-clauses (a) and (b) of clause (iii) to the extent such disclosure would reveal material non-public information regarding specific potential future investment banking or merchant banking or brokerage services transactions of the subject company.
(4) EWL Advisory or its proprietor has never served as an officer, director or employee of the subject company;
(5) EWL Advisory has never been engaged in market making activity for the subject company;
(6) EWL Advisory shall provide all other disclosures in research report and public appearance as specified by the Board under any other regulations.