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

Asian stocks were mixed Tuesday while bonds advanced amid economic threats from China’s Covid outbreak and aggressive Fed monetary-policy tightening. There are fears of an unprecedented lockdown in Beijing in China as most residents are being tested for the virus. Equities were volatile in Japan, rose in South Korea and fell in Australia, while U.S. futures fluctuated. Wall Street shares closed a choppy session higher on Monday after Elon Musk agreed to buy Twitter. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose over 0.5% to 17,087 points as of 6:40 am. Crude oil held a retreat below $100 a barrel, weighed down by the threat to demand from China. Elsewhere, bitcoin rose above $40,500.

Economic Calendar:

  • INR: Federal Fiscal Deficit on 29th April 2022.
  • INR: Infrastructure Output on 29th April 2022.
  • USD: Core Durable goods order 26th April, 2022.
  • USD: Durable Goods Order 26th April, 2022.

Earnings: Aditya Birla Sun Life AMC, Atul, AU Small Finance Bank, Bajaj Finance, Gateway Distriparks, HDFC Life Insurance Company, IIFL Securities, KPIT Technolgies, Macrotech Developers, Mahindra Logistics, Aurobindo, Nippon Life India Asset Management, Nelco, Sanofi India, Schaeffler India, Tata Coffee, Tata Teleservices (Maharashtra), United Breweries, UTI Asset Management Company, VST Industries.

Q4Fy22 Earning:

Eveready Industries Q4 FY22 (Consolidated, YoY) Revenue fell 11.5% at Rs 241.23 crore Vs Rs 272.63 crore EBITDA fell 187% at negative Rs 35.63 crore Vs positive Rs 40.97 crore EBITDA Margin -14.77% Vs 15.02% Net loss reduced at Rs 38.41 crore Vs Rs 442.53 crore

Tatva Chintan Pharma Chem Q4 FY22 (Consolidated, YoY) Revenue fell 9.3% at Rs 98.5 crore Vs Rs 108.6 crore EBITDA fell 10.2% at Rs 21.92 crore Vs Rs 24.41 crore EBITDA Margin 22.25% Vs 22.48% Net profit fell 17.1% at Rs 17.5 crore Vs Rs 21.11 crore Recommended final dividend of Rs 2 per share of face value Rs 10.

Mahindra CIE Automotive Q4 FY22 (Consolidated, YoY) Revenue up 18.2% at Rs 2,588.3 crore Vs Rs 2,189.4 crore EBITDA up 6.1% at Rs 296.87 crore Vs Rs 279.79 crore EBITDA Margin 11.47% Vs 12.78% Net profit up 1,500% at Rs 161.42 crore Vs Rs 10.09 crore. In Q4FY21,

Steel Exchange of India: Q4 FY22 (Consolidated, YoY) Revenue up 12.2% at Rs 366.86 crore Vs Rs 326.96 crore EBITDA fell 34.7% at Rs 28.61 crore Vs Rs 43.81 crore EBITDA margin 7.80% Vs 13.40% Net profit fell 286% at Rs 112.47 crore Vs Rs 29.11 crore.

Tata Investments: Q4 FY22 (Consolidated, QoQ) Revenue up 92.6% at Rs 17.55 crore Vs Rs 9.11 crore EBIT up 257% at Rs 11.18 crore Vs Rs 3.13 crore EBIT margin 63.7% Vs 34.4% Net profit fell 49% at Rs 20.23 crore Vs Rs 39.73 crore Recommended dividend of Rs 55 per share of face value of Rs 10 each.

Brokerage Radar:

BANK OF AMERICA ON SUN PHARMA: Buy, TP Raised to Rs 1000 from Rs 910 Has been one of best performing stock in sector YTD, which should continue as Rx trajectory of Ilumya/Winlevi & India momentum could drive upside to FY23 consensus rev. growth est

International Markets:

U.S. & Europe:

Particulars 25th Apr Chg Chg(%)
Nasdaq 13,004.85 165.56 1.29
Dow 34049.46 238.06 0.70
FTSE 7,380.54 -141.14 -1.88
CAC 6,449.38 -132.04 -2.01
DAX 13,924.17 -217.92 -1.54
Dow Fut.* 34091.4 41.9 0.12

Asian markets:

Particulars 26th Apr Chg. Chg(%)
SGX Nifty 17,133.00 138 0.81
Nikkei 26,726.65 135.87 0.51
Straits Times 3,334.73 -4.86 -0.15
Hang Seng 20,094.40 225.06 1.13
Shanghai 2,944.72 16.21 0.55

ADR Watch:

Particulars 25thApr Chg. Chg.(%)
Dr Reddy 53.39 -0.51 -0.95
HDFC Bank 56.24 1.15 2.09
ICICI Bank 19.43 0.56 2.97
Infosys 20.41 0.15 0.74
Tata Motor 27.97 -0.12 -0.43
Wipro 6.86 0.1 1.48

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 76.69 0.27
Brent 103.52 1.33
Gold 1904.90 0.47
Silver 23.938 1.13

FIIs & DII:

Particulars 25th Apr 22nd Apr
FIIs -3302.85 -2461.72
DIIs 1870.45 1602.35

News Update

Reliance Industries: India’s most valuable firm by market cap has abandoned a plan to buy Bank of India: Approved the capital raising plan upto Rs.2,500 crores by issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue to increase minimum public shareholding from the present 18.59% to 25% or above.

VA Tech Wabag: Company’s Russian client Amur Gas Chemical Complex has suspended further activity amid current geo-political uncertainty in the region. However, the company said that it has collected $21.61 million based on the progress achieved from the Engineering and Procurement order.
Veranda Learning: Approved acquisition of 100% shareholding of Hyderabad-based T.I.M.E (Advanced Educational Activities) for Rs 287 crore.

Zee Learn: Yes Bank has initiated insolvency resolution against the company. For default of Rs 468 crore.

Cyient: Says CITEC purchase to add to EBIT margin from second year; sees additional revenue of $98 million-$102 million from CITEC buy.

Hubtown: To consider rights issue, securities issue on April 28.

Varun Beverages: To considers free shares issue on April 28.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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