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

Asia stocks slipped at the open Tuesday after weakness in the technology sector pulled U.S. indexes from all-time peaks, with investors weighing corporate earnings and recent spikes in virus cases. The tech-heavy Nasdaq 100 Index underperformed in the U.S. session, while the S&P 500 Index also fell. Treasury yields slipped back below 1.6% and the dollar dipped. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, down 0.2% to 14,354, as of 6:45 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

Nifty Results: Nestle India

Non-Nifty Results: 5paisa Capital, Tata Steel Long Products, Swaraj Engines, Network18, TV18 Broadcast

International Markets:

U.S & Europe

Particulars    19th Apr. Chg Chg(%)
Nasdaq 13914.76 -137.58 -0.98
Dow 34077.63 -123.04 -0.36
FTSE 7000.08 -19.45 -0.28
CAC 6296.69 9.62 0.15
DAX 15368.39 -91.36 -0.59
Dow Fut.* 34,043.00 84 0.24


Asian markets:

Particulars    20th Apr. Chg Chg(%)
SGX Nifty 14427 38 0.26
Nikkei 29115.2 -570.17 -1.92
Straits Times 3207.56 -2.16 -0.07
Hang Seng 29126.78 20.63 0.07
Shanghai 3482.56 5.01 0.14


   ADR Watch

Particulars       19th Apr. Chg Chg(%)
Dr Reddy 66 0.99 1.52
HDFC Bank 68.25 -3.56 -4.96
ICICI Bank 14.95 -0.27 -1.77
Infosys 18.26 0.08 0.44
Tata Motor 20.02 -0.49 -2.39
Wipro 6.96 0 0


Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.88      0.71
Brent 67.43 0.60
Gold 1,769.45     -0.06
Silver 25.87      0.13



Particulars   19th Apr.       16th Apr.
FIIs -1,633.70       437.51
DIIs    2,355.56     657.55


ICICI Prudential Life Insurance Company Q4FY21 Result (Standalone YoY:

Net income down 64% at Rs 63.78 crore Vs Rs 179 crore PAT for FY21 at Rs 960 crore Vs Rs 1,081 crore in FY20 Net premium income up 13% at Rs 11,880 crore Net investment income at Rs 7,140 crore Solvency ratio at 216.8% Vs 194% 13th month persistency ratio at 84.8% Vs 83.2% 61st month persistency ratio at 58.3% Vs 56% New business premium up 22.9% at Rs 5,133 crore Value of new business at Rs 1,621 crore VNB Margins for FY21 at 25.1% Vs 21.7% in FY20 AUM up 40% at Rs 2.14 lakh crore in FY21 Recommended final dividend of Rs 2 per share

ACC Q1CY21 Result (Consolidated, YoY):

Revenue up 22.57% at Rs 4,291.97 crore versus Rs 3,501.71 crore (Bloomberg Estimate: Rs 4,216.8 crore) Net profit up 74.17% at Rs 562.56 crore versus Rs 323 crore (Bloomberg Estimate: Rs 462.9 crore) Ebitda up 46.68% at Rs 860.24 crore versus Rs 586.48 crore (Bloomberg Estimate: Rs 751.2 crore) Ebitda Margin at 20% versus 16.70%


Nestle India Q1CY21 Result Expectation:

Likely to report a 12 per cent year-on-year rise in net profit to Rs 589 crore for the quarter ended March. The company is also expected to report a strong 8.2 per cent on-year growth in revenues in the quarter to Rs 3,598.1 crore. Gross margins expected to improve, led by benign input prices. Ebitda (earnings before interest, tax, depreciation and amortisation) margin, however, is likely to witness some pressure on account of higher employee cost and other expenses.

 News Update:

Tech Mahindra:

Board has approved the proposal to acquire 100% equity shares in DigitalOnUs, Inc. directly and indirectly through its wholly-owned subsidiary, Tech Mahindra (Americas) Inc. The cost of acquisition is $120 million. The transaction is expected to close by May 15, 2021.


Has appointed Carlos Pellicer as Chief Operating Officer, effective immediately. Pellicer will replace Diego Casanello who resigned from the position to pursue new opportunities outside the sector.


Board to meet on April 24 to consider fundraising by way of issuance of debt securities in single/multiple tranches in any currency through public/private placement.

Adani Ports and SEZ:

Board has approved the allotment of 1 crore shares of the face value of Rs 2 each fully paid up, on a preferential basis to Windy Lakeside Investment at an issue price of Rs 800 per share, aggregating to Rs 800 crore. Subsequently, the equity paid-up share capital of the company has increased to 204 crore shares.

Supreme Petrochem:

India Ratings and Research has upgraded the company’s long-term rating to AA- from A+ with a stable outlook and confirmed a Short-term rating at A1+ for the company’s fund and non-fund based working capital facilities from banks.

Zuari Global:

Board has declared a second interim dividend of Rs 1 per share for FY21. The record date for the same is April 28.

Who’s Meeting Whom:

Hindustan Aeronautics: To meet ICICI Prudential Mutual Fund on April 20.

Oriental Aromatics: To meet First Sentier Investors on April 20.

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


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 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,
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 Disclosures Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting , or e-mailing 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 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
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:
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.