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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

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