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

Asian stocks drifted at the open Monday as investors look for clues on the economic recovery in a big earnings week and a Federal Reserve meeting. Benchmarks fluctuated in Japan and Australia, and edged higher in South Korea. U.S. futures were little changed after most major groups in the S&P 500 advanced Friday. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, climbed 1.27% to 14,515 as of 8 a.m

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Infrastructure Output YoY (Mar) on 30th April, 2021
  • INR: Markit Manufacturing PMI (Apr) on 3rd May, 2021
  • USD: Fed Interest Rate Decision on 28th April, 2021

Nifty Results: HDFC Life Insurance Company, Tech Mahindra

Non-Nifty Results: Alok Industries, Castrol India, Delta Corp, SBI Cards and Payment Services, Schaeffler India, Snowman Logistics, Tata Teleservices (Maharashtra)

International Markets:

U.S & Europe

Particulars    23rd Apr. Chg Chg(%)
Nasdaq 14016.81 198.4 1.44
Dow 34043.49 227.59 0.67
FTSE 6938.56 0.32 0
CAC 6257.94 -9.34 -0.15
DAX 15279.62 -40.9 -0.27
Dow Fut.* 33,959.00 16.5 0.04

Asian markets:

Particulars    26th Apr. Chg Chg(%)
SGX Nifty 1451.20 182.25 1.27
Nikkei 29102.32 81.69 0.28
Straits Times 3200.44 6.4 0.2
Hang Seng 29225.17 146.42 0.5
Shanghai 3493.2 19.03 0.55

ADR Watch:

Particulars       23rd Apr. Chg Chg(%)
Dr Reddy 68.05 -0.65 -0.95
HDFC Bank 69.43 0.16 0.23
ICICI Bank 15.08 0.06 0.4
Infosys 17.89 0.04 0.22
Tata Motor 19.7 0.5 2.6
Wipro 7.17 0 0

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 75.01      0.08
Brent 65.40 0.03
Gold 1,780.4      0.15
Silver 26.10      0.10

 

FIIs & DII

Particulars   23rd Apr.       22nd Apr.
FIIs -1,360.76      -909.56
DIIs    1,695.59      849.98

 

ICICI Bank Q4FY21 (YoY):

Net Profit up 260.5% at Rs 4,402 crore Vs Rs 1,221 crore (Bloomberg Estimate: Rs 4,281 crore) NII up 16.8% Rs 10,431 crore Vs Rs 8,927 crore (Bloomberg Estimate: Rs 10,161 crore) GNPA at 4.96% Vs 5.42% (QoQ) NNPA at 1.14% Vs 1.26% (QoQ) Gross additions to NPAs stood at Rs 5,523 crore Recoveries and upgrades, excluding recoveries from proforma accounts/sale/write-offs, stood  at Rs 2,560 crore Restructured loans worth Rs 1,976 crore under a one-time restructuring scheme Total advances up 14% to Rs 7.34 lakh crore

HCL Technologies Q4FY21 (Consolidated, QoQ)

Revenues up 1.75% at Rs 19,641 crore Vs Rs 19,302 crore PAT down 72.06% at Rs 1,111 crore Vs Rs 3,977 crore Ebit down 20.53% at Rs 3,526 crore Vs Rs 4,437 crore Ebit margins at 17.95% Vs 22.98% Expects revenue in FY22 to grow in double digits in constant currency terms Expects Ebit margin for FY22 to range between 19% and 21% Declared an interim dividend of Rs 6 per equity share and a special interim dividend of Rs 10 per equity share for FY 2021-22

M&M Financial Services Q4FY21 (Consolidated, YoY)

NII up 6% at Rs 1,774.39 crore Vs Rs 1,670.36 crore Net profit down 8% at Rs 218.84 crore Vs 238.91 crore Gross Stage 3 levels (bad loans) at 9% Vs 8.4% Net NPA ratio at 3.97%. The Stage 3 provisioning coverage ratio stood at 57.9% Total disbursements (amount financed) down 41% in FY21 at Rs 19,798 crore Vs Rs 34,257 crore in FY20 Standalone Assets Under Management comprising loan assets and investments up 6% at Rs 81,689 crore Vs Rs 77,160 crore

News Update:

Hathway Cable & Datacom:

Promoters Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings to sell upto 20.54 crore shares or 11.61% of the total equity through an offer for sale. The floor price of Rs 21.50 per share is at a discount of 0.69% to Friday’s closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

Shalby:

Promoter Shah Family Trust to sell upto 58.10 lakh shares of face value of Rs 10 each, representing 5.38% of the total equity share capital, through an offer for sale. The floor price of Rs 111 per share is at a discount of 3.47% to Friday’s closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

Federal-Mogul Goetze (India):

Promoter IEH FMGI Holdings LLC to sell upto 55.38 lakh shares of face value of Rs 10 each, representing 9.95% of the total equity share capital, through an offer for sale. The promoter will have a greenshoe option to sell an additional 55.38 lakh shares. The floor price of Rs 250 per share is at a discount of 13.94% to Friday’s closing price. The OFS opens for non-retail investors today and for retail investors tomorrow.

SREI Infrastructure Finance:

The wholly-owned subsidiary of the company, SREI Equipment Finance, has received an expression of interest from Cerberus Global Investments. This is the third global investor which has submitted interest for investment in SREI Equipment Finance. Previously, Arena Investors LP and Makara Capital Partners had submitted EoI for an investment of $250 million.

Ramkrishna Forgings:

The company has started commercial production of 7000 tonnes press from its Plant-V, situated at Saraikala, Jamshedpur from April 22, increasing the production capacity of the company by 17,000 tonnes per annum.

ONGC:

Has appointed Subhash Kumar, Director (Finance), as Chief Executive Officer and Vivek Tongaonkar, Executive Director (Finance), as Chief Financial Officer.

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

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