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

Asian markets were weak on Friday even as US shares closed higher on Thursday following strong US economic data and the Federal Reserve’s commitment to continue supporting the economy. China’s purchasing managers surveys signalled expansion in manufacturing and services activity in the world’s second-largest economy, after the U.S. reported growth at a 6.4% annualised pace in the first quarter. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 1.1 percent at 14762 as of 8:10 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 (pr) on 3rd May, 2021

Nifty Results: Reliance Industries, IndusInd Bank

Non-Nifty Results: Accelya Solutions India, Ajanta Pharma, Astec Lifesciences, Atul, Can Fin Homes, Indian Hotels Co, Marico, RPG Life Sciences, Shriram City Union Finance, Supreme Petrochem, Trent, Yes Bank

International Markets:

U.S & Europe

Particulars    29th Apr. Chg Chg(%)
Nasdaq 14082.55 31.52 0.22
Dow 34060.36 239.98 0.71
FTSE 6961.48 -2.19 -0.03
CAC 6302.57 -4.41 -0.07
DAX 15154.2 -137.98 -0.9
Dow Fut.* 33,881.00 -71 -0.21

Asian markets:

Particulars    30th Apr. Chg Chg(%)
SGX Nifty 14762.2 -163.50 -1.10
Nikkei 28902.19 -151.78 -0.52
Straits Times 3235.35 13.77 0.43
Hang Seng 28910.06 -393.2 -1.34
Shanghai 3457.3 -17.6 -0.51

ADR Watch:

Particulars       29th Apr. Chg Chg(%)
Dr Reddy 68.96 0.96 1.41
HDFC Bank 73.13 -1.09 -1.47
ICICI Bank 16.77 0 0
Infosys 18.46 0.23 1.26
Tata Motor 20.1 -0.33 -1.62
Wipro 7.31 0.1 1.39

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR       74.04     -0.42
Brent 67.78        -0.42
Gold 1,766.90     -0.08
Silver 26     -0.20

FIIs & DII

Particulars   29th Apr.       28th Apr.
FIIs 809.37       766.02
DIIs    -942.35     436.20

 

Titan Q4FY21 (Consolidated, YoY)

Revenue up 59% at Rs 7494 crore Vs Rs 4711 crore (Bloomberg Estimate: Rs 7,516.8 crore) Net profit up 66% at Rs 568 crore Vs Rs 343 crore (Bloomberg Estimate: Rs 549 crore) EBITDA up 33% at Rs 817 crore Vs Rs 612 crore (Bloomberg Estimate: Rs 841 crore) Margin at 10.9% Vs 13% (Bloomberg Estimate: 11.2%) Recommended a dividend of Rs 4 per share

Indiamart Intermesh Q4FY21 (Consolidated, YoY)

Revenue up 6% at Rs 179.7 crore Vs Rs 170.1crore Net Profit up 26% to Rs 55.7 crore Vs Rs 44.3 crore Ebitda up 63% at Rs 85.4 crore vs Rs 52.3 crore Ebitda margins at 47.5% vs 30.7% Recommended a final dividend of Rs 15 per share for FY21

Ambuja Cements Q1CY21 (Consolidated, YoY)

Revenue up 23% at Rs 7,714.81 crore Vs Rs 6,249.66 crore Net Profit up 71% at Rs 947.21 crore Vs Rs 554.25 crore Ebitda up 54% at Rs 1,838.49 crore Vs Rs 1,191.33 crore Ebitda margins at 23.8% Vs 19.1%

News Update:

Reliance Industries:

The street expects Reliance overall revenue growth in the fourth quarter of FY21 to be up about 23 percent on a quarter on quarter (QoQ) basis. This topline growth will be driven by the oil to chemical (O2C) business. The other segmental performance contribution to the topline – retail will be about mid-single-digit QoQ growth while Jio will report a decline in their revenues quarter on quarter. The way the Singapore gross refining margins (GRMs) have moved, the expectation is that refining will be the driver of growth. For Jio, the key to track will be the subscriber addition because it has been muted for the last couple of quarters and this quarter the interconnect usage charge was removed. So that will have a direct flow on the company’s performance for Jio.

Dr. Reddy’s Laboratories:

Has launched Albendazole Tablets, USP–a therapeutic equivalent generic version of Albenza Tablets, 200 mg–in the U.S. market

Ujjivan Financial Services:

A special resolution to appoint Samit Ghosh as CEO of Ujjivan Financial Services Ltd. was defeated as it didn’t get the requisite share of votes. According to details available on the stock exchange, the proposal for appointment Ghosh only received 70.5% votes in favour.

HDFC Bank:

Has appointed Atanu Chakraborty as part-time Chairperson and Additional Independent Director on the board of the bank, subject to the approval of the shareholders, for a period of three years, with effect from May 5.

Wipro:

Has partnered with Citrix and Hewlett Packard Enterprise to accelerate remote working solutions and bring modernisation into workspaces.

Manappuram Finance:

The company is considering various options for raising funds through borrowings including by the way of issuance of debt securities in onshore and offshore securities market by public issue, on a private placement basis or through issuing commercial papers. The Board of Directors may consider and approve issuances of debt securities in May.

Offerings: PowerGrid InvIT IPO gets 10% demand on first day of the sale.

L&T Finance:

The shadow lender reported a fall of 30.89% in consolidated net profit at ₹267 crore for the quarter ending 31 March. The NBFC’s total income during the quarter advanced to ₹3,587.18 crore from ₹3427.22 crore in the year-ago quarter. The rural finance book grew by 9% year-on-year.

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

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