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

Asian stocks were steady early Thursday as investors weighed Federal Reserve minutes that flagged the possibility of a debate on scaling back asset purchases. Treasury yields and the dollar held an advance. Benchmarks fluctuated in Japan and Australia, and fell in South Korea. U.S. futures edged down after the S&P 500 fell a third day. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.03% to 15,030.0 as of 8:22 a.m.

The minutes indicated some Fed officials may be open “at some point” to discussing adjustments to the pace of massive bond purchases if the U.S. economy keeps progressing rapidly.

The benchmark 10-year Treasury yield was steady after climbing to 1.67%. Commodity prices slid amid mounting concern about inflation and potential curbs on monetary stimulus.

Oil stabilised after slumping to the lowest in three weeks with traders also concerned about growing supply from the U.S. and

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: Existing Home Sales (Apr) on 21st May, 2021
  • USD: Initial jobless claims on 20th May,2021

International Markets:

U.S & Europe

Particulars    19th May. Chg Chg(%)
Nasdaq 13,299.74 -3.9 -0.03
Dow 33896.04 -162.62 -0.48
FTSE 6,950.20 -84.04 -1.19
CAC 6,262.55 -91.12 -1.43
DAX 15,113.56 -273.02 -1.77
Dow Fut.* 33,788.00 -0.43 -0.13

Asian markets:

Particulars    20th May. Chg Chg(%)
SGX Nifty 15,030.00 -5 -0.03
Nikkei 28,030.46 -13.99 -0.05
Straits Times 3,119.38 15.17 0.49
Hang Seng 28,348.21 -245.6 -0.86
Shanghai 3,491.67 -19.29 -0.55

ADR Watch:

Particulars       19th May. Chg Chg(%)
Dr Reddy 72.2 0.45 0.63
HDFC Bank 73.55 -0.44 -0.59
ICICI Bank 17.24 0.06 0.35
Infosys 18.44 0.18 0.99
Tata Motor 20.85 -1.06 -4.84
Wipro 7.47 0.02 0.27

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.17 0.16
Brent 66.70 0.05
Gold 1875.35 -0.33
Silver 27.848 -0.63


Particulars   19th May. 18th May.
FIIs -697.75 618.49
DIIs -852.52 449.52


Earnings  to Watch:

HPCL, Brookfield India Real Estate Trust REIT, Bosch, Cosmo Films, Disa India, Electrosteel Castings, EPL, Expleo Solutions, Gujarat Industries Power Co., Havells India, IndInfravit Trust, JK Lakshmi Cement, KNR Constructions, Meghmani Organics, Plastiblends India, Music Broadcast, Relaxo Footwears, The Investment Trust Of India, Torrent Power, Ultramarine & Pigments, Usha Martin, Zee Entertainment.


JK Tyre & Industries Q4FY21 (QoQ) Revenue up 6% at Rs 2,927.28 crore Vs Rs 2,769.28 crore Net profit down 16% at Rs 189.12 crore Vs Rs 224.09 crore Ebitda down 9% at Rs 454.67 crore Vs Rs 500.39 crore Ebitda margin at 15.5% Vs 18.1% Recommended a dividend of Rs 2 per share for FY21

Endurance Technologies Q4FY21 (QoQ) Revenue up 5% at Rs 2,132.80 crore Vs Rs 2,040.80 crore Net profit down 1% at Rs 187.20 crore Vs Rs 190 crore Ebitda down 6% at Rs 332 crore Vs Rs 352 crore Ebitda margin at 15.6% Vs 17.2% Recommended dividend of Rs 6 per share for FY21

Brokerage Radar:


Maintain Overweight at the Target Price of Rs.139.Core earnings Should raise Investor confidence on Earning Delivery.See Integrated Margin to Rise Further.


Maintain Hold at the Target Price of Rs.100.Significant EBITDA Beat on higher inventory gains in refining & Mktg.Market share loss in Auto Fuel Marketing Continues unbated.Cut Earnings by 6%/5% for FY22/23 on ongoing lockdown.


Maintain overweight at the Target Price of Rs.147 Reported a large beat driven by inventory gains. See a Sharp improvement in co’s underlying performance Risk-Reward Remains Attracive in our view.

News Update:

Tata Steel: Fitch upgrades rating to BB with a stable outlook.

Sintex Industries: The company’s plant situated at Lunsapur in Gujarat has been damaged due to Cyclone Tauktae. The quantum of loss and estimated impact on the production due to the cyclone is being determined, the company said.

Shree Pushkar Chemicals & Fertilisers: The company’s plant situated at Ratnagiri in Maharashtra has been dmaged due to Cyclone Tauktae, resulting in a temporary suspension of production at Unit I to V.

lndo Rama Synthetics (India): Approved capex plan up to Rs 600 crore in the company and its wholly-owned subsidiary at Butibori in Nagpur towards the addition of balancing equipment, manufacturing of specialty yarns and to install a 700 TPD PET Resin manufacturing facility.

Axis Bank: OFS for non-retail investors gets 4 times the demand as compared to the shares on offer. OFS for retail investors to open today. SUUTI will exercise the oversubscription option to sell another 0.74% stake in the bank.

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

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