View on market: Stay Cautious, be with quality business:
U.S. futures advanced and stocks were steady on Thursday, amid a surge in Facebook parent Meta Platforms Inc.’s share price and more pledges of economic support from China. Futures for the tech-heavy Nasdaq 100 and S&P 500 rose. Shares in Japan, Australia and South Korea were volatile after the U.S. stock market posted a modest gain on Wednesday aided by Meta Platforms, which surged 18% in extended trading after Facebook.com added more users than projected. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell 0.12% to 17,029.50 points as of 7:15 am. Treasury yields dipped as investors calibrated risks from high inflation and aggressive Federal Reserve policy tightening. A dollar gauge advanced. In commodities, oil was close to $102 a barrel. Bitcoin rose above $39,300.
Economic Calendar:
- INR: Federal Fiscal Deficit on 29th April 2022.
- INR: Infrastructure Output on 29th April 2022.
- USD: Non Payroll Employment order 4th May, 2022.
- USD: Factory Order 3rd May, 2022.
Earnings today: Agro Tech Foods, Axis Bank, Bajaj Finserv, Bajaj Holdings & Investment, Biocon, Coromandel International, Datamatics Global Services, Embassy Office Parks REIT, Fineotex Chemical, IIFL Finance, IndiaMART InterMESH, Indo Rama Synthetics (India), Kirloskar Pneumatic Company, Laurus Labs, Motilal Oswal Financial Services, Mphasis, Procter & Gamble Hygiene & Health Care, PNB Housing Finance, SBI Life Insurance Company, Shoppers Stop, Shriram Transport Finance Company, Sterlite Technologies, Varun Beverages, Vedanta
Q4Fy22 Earning:
HUL Revenue up 10.7% at Rs 13,767 crore Vs Rs 12,433 crore (Bloomberg Estimate: Rs 13,162.3 crore) EBITDA up 8.48% at Rs 3,301 crore Vs Rs 3,043 crore (Bloomberg Estimate: Rs 3,215.4 crore) EBITDA Margin 23.98% Vs 24.48% (Bloomberg Estimate: 24.42%) Net profit up 5.4% at Rs 2,304 crore Vs Rs 2,186 crore (Bloomberg Estimate: Rs 2,373.5 crore) Recommended a final dividend.
Bajaj Auto Revenue fell 7.23% at Rs 7,974.84 crore Vs Rs 8,596.1 crore (Bloomberg Estimate: Rs 7,621.4 crore) EBITDA fell 10.6% at Rs 1,360.68 crore Vs Rs 1,521.88 crore (Bloomberg Estimate: Rs 1,124.6 crore) EBITDA margin 17.06% Vs 17.70% (Bloomberg Estimate: 14.75%) Net profit fell 1.6% at Rs 1,526.16 crore.
Persistent Systems Revenue up 9.8% at Rs 1,637.85 crore Vs Rs 1,491.71 crore EBITDA up 12% at Rs 281.16 crore Vs Rs 251.08 crore EBITDA margin 17.17% Vs 16.8% Net profit up 14% at Rs 200.99 crore Vs Rs 176.39 crore Recommended final dividend of Rs 11 per share of face value of Rs 10
HDFC AMC Revenue up 2.6% at Rs 516.28 crore Vs Rs 502.93 crore EBIT fell 0.7% at Rs 380.05 crore Vs Rs 382.71 crore EBIT margin 73.6% Vs 76.1% Net profit up 8.6% at Rs 343.55 crore Vs Rs 316.08 crore Recommended a dividend of Rs 42 per share on face value of Rs 5.
Brokerage Radar:
NOMURA ON CARTRADE TECH: Initiate Buy, TP Rs 770 Leading play on rising digital advertising in autos Success in used car biz an upside Est consol rev/EBITDA to record 25%/37% CAGR over FY22-25F (EBITDA margin from 16.7% in FY22F to 22.2% by FY25F).
CREDIT SUISSE ON HUL: O-P, TP cut to Rs 2550 from Rs 2800 Home care saves day, however BPC & nutrition weakness continues to be concerning Cut FY23-24 est by 9% to factor in sharp increase in commodity costs which will hurt EBITDA margins.
UBS ON BAJAJ AUTO: Neutral, TP Rs 4000 Q4FY22 – Beat led by one-off mix; domestic profitability in question STK to react Positively on beat, but management commentary on earnings call remains key
International Markets:
U.S. & Europe:
| Particulars | 27th Apr | Chg | Chg(%) |
| Nasdaq | 12,488.93 | -1.81 | -0.01 |
| Dow | 33301.93 | 61.75 | 0.19 |
| FTSE | 7,425.61 | 39.42 | 0.53 |
| CAC | 6,445.26 | 30.69 | 0.48 |
| DAX | 13,793.94 | 37.54 | 0.27 |
| Dow Fut.* | 33373.7 | 78.2 | 0.21 |
Asian markets:
| Particulars | 28th Apr | Chg. | Chg(%) |
| SGX Nifty | 17,077.00 | 27 | 0.16 |
| Nikkei | 26,548.82 | 162.19 | 0.61 |
| Straits Times | 3,320.88 | 0.21 | 0.01 |
| Hang Seng | 20,110.60 | 164.24 | 0.82 |
| Shanghai | 2,973.53 | 15.25 | 0.52 |
ADR Watch:
| Particulars | 27thApr | Chg. | Chg.(%) |
| Dr Reddy | 52.89 | -0.42 | -0.79 |
| HDFC Bank | 56.09 | 0.52 | 0.94 |
| ICICI Bank | 19.12 | 0.02 | 0.1 |
| Infosys | 20.12 | 0 | 0 |
| Tata Motor | 27.75 | 0.08 | 0.29 |
| Wipro | 6.65 | -0.06 | -0.89 |
Commodities & Currency:
| Particulars | Current Price | Chg(%) |
| USD/INR | 76.53 | -0.06 |
| Brent | 103.57 | -1.31 |
| Gold | 1882.85 | -0.30 |
| Silver | 23.308 | -0.65 |
FIIs & DII:
| Particulars | 27th Apr | 26th Apr |
| FIIs | -4064.54 | -1174.05 |
| DIIs | 1917.51 | 1643.84 |
News Update
Reliance Industries: Bodhi Tree Systems, a platform of Uday Shankar and James Murdoch’s Lupa Systems, to raise and invest Rs 13,500 crore in Viacom18. Reliance Projects to invest an additional Rs 1,645 crore. JioCinema OTT app to be transferred to Viacom18.
Tata Consumer: Life Insurance Corporation of India has increased its stake in the company to 5.008%.
IDFC First Bank: The bank will consider raising funds through issuance of debt securities on private placement basis on April 30.
Source: Moneycontrol, Livemint,, Bloomberg, Investing
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