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

Asian stocks were steady Tuesday after technology shares spurred a Wall Street rally as Federal Reserve officials tried to soothe concerns about inflation. Equities in Japan, South Korea and Australia rose modestly at the open. U.S contracts edged up after the S&P 500 climbed and the Nasdaq 100 outperformed amid a jump in Apple Inc. and Tesla Inc.The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.66% to 15,301.50 as of 8:12 a.m. Oil held an advance after Iran said that gaps remain in negotiations aimed at reaching a deal to end U.S. sanctions on its crude. The Bloomberg Commodity Spot Index advanced the most in about a week.

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

Major economic Data:

  • INR: Foreign Exchange Reserves on 28th May, 2021
  • INR: Infrastructure Output on 31st May, 2021
  • INR: GDP Growth Rate YoY Q1on 31st May, 2021

Earnings to Watch:

Non-Nifty Earnings: Non-Nifty Earnings: Emami, Lux Industries, xmi Organic Industries, TVS Srichakra, Transport Corporation Of India, Johnson Controls-Hitachi Air Conditioning India, AIA Engineering, Alkem Laboratories, TTK Prestige, AstraZeneca Pharma India, Bajaj Electricals, Bayer Cropscience, Gati, Goldiam International, Polyplex Corporation, Precision Camshafts, Ramco Systems, Godawari Power & Ispat, Igarashi Motors India, Stove Kraft.

International Markets:

U.S & Europe

Particulars    24th May. Chg Chg(%)
Nasdaq 13,661.17 190.18 1.41
Dow 34393.98 186.14 0.54
FTSE 7,051.59 33.54 0.48
CAC 6,408.49 22.08 0.35
DAX 15,437.51 67.25 0.44
Dow Fut.* 34,400.00 48 0.14

Asian markets:

Particulars    25th May. Chg Chg(%)
SGX Nifty 15,301.50 100 0.66
Nikkei 28,534.27 169.66 0.6
Straits Times 3,139.11 15.5 0.5
Hang Seng 28,670.27 258.01 0.91
Shanghai 3,535.42 38.14 1.09

ADR Watch:

Particulars       24th May. Chg Chg(%)
Dr Reddy 72.59 0.25 0.35
HDFC Bank 75.52 -0.92 -1.2
ICICI Bank 17.78 0.14 0.79
Infosys 18.67 -0.05 -0.27
Tata Motor 21.52 0.22 1.03
Wipro 7.64 0.1 1.33

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR        72.96 0.18
Brent 68.62     0.37
Gold 1876.95 -0.40
Silver 27.727 -0.64

FIIs & DII

Particulars   24th May. 21st May.
FIIs 585.36   510.16
DIIs    -707.69 649.10

Results:

Grasim Industries Q4FY21 (Standalone, QoQ) Revenue up 19% at Rs 4,394.25 crore Vs Rs 3,696.61 crore (BBG Estimate: Rs 4,339.3 crore) Net profit 34% at Rs 480.19 crore Vs Rs 357.87 crore (BBG Estimate: Rs 407.6 crore) Ebitda up 26% at Rs 810.89 crore Vs Rs 644.52 crore (BBG Estimate: Rs 767 crore) Ebitda margin at 18.5% Vs 17.4% (BBG Estimate: 17.67%) Recommended a dividend of Rs 5 per share and a special dividend of Rs 4 per equity share.

Mahanagar Gas Q4FY21 (QoQ) Revenue up 8% at Rs 784.04 crore Vs Rs 727.33 crore (BBG Estimate: Rs 763 crore) Net profit down 2% at Rs 212.77 crore Vs Rs 217.21 crore (BBG Estimate: Rs 235 crore) Ebitda at Rs 316.16 crore Vs Rs 316.72 crore (BBG Estimate: Rs 331.2 crore) Ebitda margins at 40.3% Vs 43.5% (BBG Estimate: 30.79%) Recommended final dividend of Rs 14 per share.

JK Paper Q4FY21 (Consolidated, QoQ) Revenue up 21% at Rs 898.16 crore Vs Rs 744.88 crore Net profit at Rs 136.07 crore Vs Rs 64.59 crore Ebitda up 47% at Rs 228.43 crore Vs Rs 155.19 crore Ebitda margin at 25.4% Vs 20.8% Recommended a dividend of Rs 4 per share.

Balaji Amines Q4FY21 (Consolidated, QoQ) Revenue up 6% at Rs 414.03 crore Vs Rs 392.12 crore Net profit up 13% at Rs 88.80 crore Vs Rs 78.90 crore Ebitda up 10% at Rs 128.91 crore Vs Rs 117.36 crore Ebitda Margins at 31.1% vs 29.9% Recommended final dividend of Rs 4 per share.

News Update:

Bal Pharma:

Launched Favipiravir formulation in the Indian market, under the brand name BALflu. Favipiravir is an emerging anti-viral drug used for patients with mild to moderate Covid-19 infection. This formulation is available in tablet form with 400 mg strength.

GMM Pfaudler:

Commenced manufacturing operations at its facility at Vatva near Ahmedabad on May 24. The new facility will enhance the company’s capacity in Heavy Engineering. It is spread over 11.9 acres with seven manufacturing bays equipped to manufacture a wide range of Heavy Engineering equipment.

Amara Raja Batteries:

Clarios to sell 1.71 crore shares for an aggregate $174 million. The floor price fixed at Rs 746 per share.

RBI on Inflation:

A Reserve Bank of India (RBI) study on May 24 emphasised that lower inflation is beneficial for the financial stability in the economy and will have favourable redistribution effects on the economically poorer sections of the society.”Lower inflation has favourable redistribution effects particularly on the poor and is beneficial for financial stability. These costs and benefits of fixing a long-term inflation target will thus have to be considered while making the choice, the study said.

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

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