Market-View-Feature-Image

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

Stocks in Asia rose and US futures advanced on Monday after China eased some virus curbs. The Wall Street has also logged best week in 18 months. Japanese equities gained, as did those in Australia and South Korea. The S&P 500 wiped out its May losses and snapped a string of seven weekly declines. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose nearly 0.60% to 16,435 points as of 6:35 am. The dollar was steady and the euro fluctuated as the European Union failed to agree on a revised package of Russian sanctions. Elsewhere, West Texas Intermediate crude rose 0.4% to above $115 a barrel, while bitcoin hovered around $29,300.

Economic Calendar:

  • INR: Trade Balance on 2nd June 2022.
  • INR: GDP Quartely on 31st May 2022.
  • USD: CB Consumer confidence 31st May, 2022.
  • USD: ADP Non Payroll Job Data 1st June, 2022.

Earnings Today: LIC, Aurobindo Pharma, IRCTC, Jubilant FoodWorks, Sun Pharmaceuticals, Jindal Steel and Power, Campus Activewear, Trident, Delhivery, Natco Pharma, Medplus Health Services, Dixon Technologies, Brightcom Group, Eureka Forbes, NLC India, Mazagon Dock Shipbuilders, Rajesh Exports, Radico Khaitan, Greenlam Industries, Sunteck Realty, Swan Energy, Ingersoll Rand, Bombay Burmah Trading, JSW Holdings, Lux Industries, NBCC (India), Rail Vikas Nigam, Rattanindia Enterprises, Restaurant Brands Asia, Dhani Services, Dilip Buildcon, Bannari Amman Sugars, KNR Constructions, IOL Chemicals and Pharmaceuticals, LT Foods, Prudent Corporate Advisory Services, Dish TV India, DB Realty, GE Power India, Jindal Saw, Varroc Engineering

Q4Fy22 Earning:

JSW Steel Q4 FY22 (Consolidated, QoQ) Revenues up 23.2% at Rs 46,895 crore EBITDA up 0.6%% at Rs 9,184 crore EBITDA margins at 19.6% vs 24% Net profit down 25.7% at Rs 3,234 crore Approved merger of JV Crexient Special Steel and JSW Ispat with itself.

Oil India Q4 FY22 (Consolidated, YoY) Revenue up 36.5% at Rs 8,869.71 crore EBITDA up 103% at Rs 3,830.31 crore EBITDA margin 43% vs 29% Net profit up 123% at Rs 2117.7 crore Recommended final dividend of Rs 5 per share

Nykaa Q4 FY22 (Consolidated, QoQ) Revenue down 11% at Rs 973.3 crore EBIT down 82% at Rs 8.05 crore EBIT margin at 0.8% vs 4% Net profit down 70% at Rs 8.56 crore

Astral Q4 FY22 (Consolidated, YoY) Revenue up 23% at Rs 1,390.6 crore EBITDA down 14.8% at Rs 216.80 crore EBITDA margin at 15.6% vs 22.6% Net profit down 19.7% at Rs 141.4 crore Recommended final dividend of Rs 1.75 per share

PB Fintech Q4 FY22 (Consolidated, QoQ) Revenue up 47% at Rs 540.29 crore EBIT fell 18.6% at Rs 267.07 loss EBIT margin at -49% Vs -89% Net loss up 26% at Rs 219.6 crore

United Spirits Q4 FY22 (Consolidated, YoY) Revenue up 1% at Rs 7,767.3 crore EBITDA up 9% at Rs 431.8 crore EBITDA margin at 5.5% vs 5.1% Net profit down 13% at Rs 181.7 crore

TCI Express Q4 FY22 (Consolidated, QoQ) Revenue up 4% at Rs 300.28 crore EBIT up 4.5% at Rs 49.14 crore EBIT margin 16.36% vs 16.27% Net profit up 2.2% at Rs 35.93 crore Recommended final dividend of Rs 2 per share Approved share buyback worth Rs 75 crore

Brokerage Radar:

CITI ON ONGC : Sell, TP Rs 155 4Q: Operationally In-Line; Headlines Below Production trends disappointing Only pure-play beneficiaries of higher crude & gas prices, upside here too could get capped given our bearish crude outlook & uncertainties on a potential windfall tax

International Markets:

U.S & Europe:

Particulars 27th  May Chg Chg(%)
Nasdaq 12,131.13 390.48 3.33
Dow 33212.96 575.77 1.76
FTSE 7,585.46 20.54 0.27
CAC 6,515.75 105.17 1.64
DAX 14,462.19 230.9 1.62
Dow Fut.* 33289.40  77.4  0.23

Asian markets:

Particulars    30th May    Chg. Chg(%)
SGX Nifty 16,490.00 153 0.94
Nikkei 27,309.35 527.67 1.97
Straits Times 3,238.54 7.99 0.25
Hang Seng 21,103.08 405.72 1.96
Shanghai 3,145.12 14.88 0.48

ADR Watch:

Particulars     27th May Chg. Chg.(%)
Dr Reddy 56.31 1.04 1.88
HDFC Bank 58.94 2.06 3.62
ICICI Bank 19.36 0.37 1.95
Infosys 19 0.55 2.98
Tata Motor 28.19 0.18 0.64
Wipro 6.1 0.16 2.69

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 77.57 -0.01
Brent 116.66 1.04
Gold 1856.68 0.26
Silver 22.303 0.47

FIIs & DII:

Particulars 27th May                           26th May
FIIs -1943.10                        -1597.84                       
DIIs 2727.47 2906.46

News Update

Adani Enterprises: Adani Defence Systems and Technologies to acquire 50% stake in drone firm General Aeronautics for providing end-to-end solutions for the domestic agricultural sector.

Jindal Steel & Power: The company will install the country’s first rail wheelset manufacturing plant at its Raigarh, Chhattisgarh, facility.

Dr Reddy’s: The company has launched Pemetrexed for injection in the U.S. market.

Welspun Corp: The company will acquire 26% stake in a proposed SPV for implementation of a renewable energy project in Gujarat. It will also acquire 19% stake in Welspun Transformation Services.

Cineline: The company plans to set up 75+ operational screens in FY23.

Adani Green: Commissions 390 MW wind-solar power plant.

GAIL India: Says no disruption in Gazprom supplies on Russia sanctions.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. Ravinder Parkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL or its associates or relatives, have no actual/beneficial ownership of one per cent. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
2. Compensation
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(d) EWL or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months;
(e) EWL or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL