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

Equities in Asia and US futures rose on Friday even as concerns over global economic outlook and China’s Covid-19 struggles persisted. Stocks gained in Japan, South Korea and Australia, after Wall Street shares saw modest gains on Thursday. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose nearly 1% to 15,940.50 points as of 6:20 am. Crude oil prices hovered near $112 a barrel, gold held a rally and Bitcoin was near $30,000.

Economic Calendar:

  • INR: Bank Loan Growth on 20thMay
  • INR: FX Reserve on 20th May 2022.
  • USD: US oil Count 20th May, 2022.
  • USD: Manufacturing PMI 24th May, 2022.

Earnings Today: NTPC, Indigo Paints, Thermax, IDFC, Sobha, Pfizer, Nuvoco Vistas Corporation, Metro Brands, C.E. Infosystems, Indiabulls Housing Finance, JK Tyres and Industries, Hindustan Foods, Heidelberg Cement, Amara Raja Batteries, ZF Commercial Vehicle Control Systems, Advanced Enzyme Technologies.

Q4Fy22 Earning:

Godrej Consumer Products Q4 FY22 (Consolidated, YoY) Revenue up 7% at Rs 2915.82 crore EBITDA fell 15% at Rs 467.58 crore EBITDA margin 16% vs 20.1% Net profit fell 1% at Rs 363.24 crore

Gland Pharma Q4 FY22 (Consolidated, YoY) Revenue up 24% at Rs 1,103 crore EBITDA up 6% to Rs 348 crore EBITDA margin at 31.6% vs 36.9% Net profit up 10% to Rs 286 crore

Ashok Leyland Q4 FY22 (Consolidated, YoY) Revenue up 22% at Rs 9,926.97 crore EBITDA up 17.8% at Rs 1,194.11 crore EBITDA margin 12.03% vs 12.45% Net profit fell 60.22% at Rs 140.24 crore Exceptional loss stood at Rs 236.91 crore Recommended dividend of Rs 1 per share

Container Corporation of India Q4 FY22 (Consolidated, YoY) Revenue up 5.16% at Rs 2,057.56 crore EBITDA up 112.53% at Rs 415.84 crore EBITDA margin 20.21% vs 10% Net profit up 900% at Rs 257.56 crore Recommended final dividend of Rs 3 per share

HPCL Q4 FY22 (Consolidated, YoY) Revenue up 30.4% at Rs 97,288.11 crore EBITDA down 58.86% at Rs 1,825.53 crore EBITDA margin at 1.74% vs 5.22% Net profit down 34% at Rs 2,018.45 crore Recommended final dividend of Rs 14 per share

Krishna Institute of Medical Sciences Q4 FY22 (Consolidated, QoQ) Revenue down 5.4% at Rs 372.33 crore EBITDA down 12.5% at Rs 113.56 crore EBITDA margin at 30.5% vs 32.97% Net profit down 0.6% at Rs 80.68 crore

Prince Pipes and Fittings Q4 FY22 (Consolidated, YoY) Revenue up 18.37% at Rs 901.19 crore EBITDA down 4.29% at Rs 140.50 crore EBITDA margin at 15.6% vs 19.28% Net profit down 9.25% at Rs 88.23 crore Recommended final dividend of Rs 2 per share

Brokerage Radar:

CITI ON GLAND PHARMA: Sell, TP Rs 3310 4Q largely in-line Rev up 24% YoY, 4% QoQ, but mix unfavorable (slow-down in US), resulting in margin weakness (EBITDA: 31.6%, -530bps YoY) In US, shortages of needles along with market share loss in Enoxaparin, major reasons for weakness.

NOMURA ON CONCOR: Buy, TP Rs 863 4Q missed est on higher employee & other costs, though sales & railway margins were in-line Segment highlights: domestic profitability significantly below est LLF for FY22 at Rs 465 cr largely in line with co’s guidance.

MORGAN STANLEY ON DR REDDY’S: OW, TP Rs 5202 MSintinues to deliver granular growth across its biz Plus, it continues to invest in complex generics, biosims &, now, NCEs These, along with reasonable valuation, drive OW.

International Markets:

U.S & Europe:

Particulars       19th May    Chg Chg(%)
Nasdaq 11,388.50 -29.65  -0.26
Dow 31253.13 -236.94   0.75
FTSE 7,302.74 -135.35 -1.82
CAC 6,272.71 -80.23 -1.26
DAX 13,882.30 -125.46 -0.9
Dow Fut.* 31427.50  172.90  0.55

Asian markets:

Particulars    20th May    Chg. Chg(%)
SGX Nifty 15,992.00 207 1.31
Nikkei 26,712.36 309.52 1.17
Straits Times 3,229.68 38.97 1.22
Hang Seng 20,452.21 331.53 1.65
Shanghai 3,118.35 21.39 0.69

ADR Watch:

Particulars     19th May Chg. Chg.(%)
Dr Reddy 51.35 1.37 2.74
HDFC Bank 52.64 -0.26 -0.49
ICICI Bank 17.81 -0.06 -0.34
Infosys 18.63 -0.15 -0.8
Tata Motor 26.01 -0.1 -0.38
Wipro 5.91 -0.1 -1.66

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.73 0.19
Brent 110.86 -1.05
Gold 1836.58 -0.25
Silver 21.834 -0.34

FIIs & DII:

Particulars         19th May                                  18th May
FIIs -4899.92                           -1254.64                         
DIIs   3225.54  375.61

News Update:

Biocon: Biocon Biologics and Viatris Inc. have launched biosimilar Abevmy in Canada.

Dish TV: The company will hold an EGM on June 24.

Wipro: The company launched Innovation Studio in Austin, Texas.

Hindustan Aeronautics: The company has been granted the type certification of first Indigenous Light Transport civil passenger aircraft.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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