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

Most Asian stocks retreated Monday and U.S. equity futures were steady as investors continue to weigh inflation risks and the strength of the economic recovery. Equities slipped in Japan, Hong Kong and China, where a gauge of the manufacturing industry suggested the economy’s recovery momentum might have peaked. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance fell 0.31% to 15,444 as of 8:32 a.m. U.S. contracts fluctuated after the S&P 500 notched its fourth-straight monthly advance. Treasury yields ticked back below 1.60% on Friday. There’s no Treasuries cash trading in Asia amid holidays in the U.S. and U.K.

The offshore yuan fell back in the wake of comments leaning against its climb. Two state-run newspapers flagged risks fueled by rapid gains in the currency. China also set its daily reference rate at a weaker-than-expected level.Bitcoin traded around $35,000 after a Friday slump as Bank of Japan Governor Haruhiko Kuroda warned about the token’s volatility and speculative trading.

.Key Data/ Action, Result, and Board meeting to watch

Major economic Data:

  • INR: Infrastructure Output on 31st May, 2021
  • INR: GDP Growth Rate YoY Q1on 31st May, 2021
  • USD: ISM Manufacturing PMI (May) on 1st June, 2021
  • USD: ADP Nonfarm Employment Change (May) on 3rd June, 2021

International Markets:

U.S & Europe

Particulars    28th May. Chg Chg(%)
Nasdaq 13,748.74 12.46 0.09
Dow 34529.45 64.81 0.19
FTSE 7,022.61 2.94 0.04
CAC 6,484.11 48.4 0.75
DAX 15,519.98 113.25 0.74
Dow Fut.* 34,548.00 35 0.1

Asian markets:

Particulars    31st May. Chg Chg(%)
SGX Nifty 15,444.00 -48.5 -0.31
Nikkei 29,149.41 600.4 2.1
Straits Times 3,178.55 13.73 0.43
Hang Seng 29,124.41 11.21 0.04
Shanghai 3,600.78 -8.07 -0.22

ADR Watch:

Particulars       28th May. Chg Chg(%)
Dr Reddy 71.37 -0.85 -1.18
HDFC Bank 76.53 0.9 1.19
ICICI Bank 18.01 -0.16 -0.88
Infosys 19.34 -0.03 -0.15
Tata Motor 21.73 -0.45 -2.03
Wipro 7.93 0.01 0.13

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR        72.44 -0.21
Brent 69.01     0.42
Gold 1912.25  0.36
Silver 28.185  0.61

FIIs & DII

Particulars      28th May.    27th May.
FIIs 913.59    -660.90
DIIs 1275.22   112.38

 

Earnings to Watch:

Non-Nifty Earnings: Aurobindo Pharma, Jamna Auto, Kolte Patil, Narayana Hrudyalaya, Shilpa Medicare, Honeywell Automation

Results:

Divi’s Laboratories Q4FY21 (Consolidated, QoQ) Revenue rose 5% at Rs 1,788.19 crore Vs Rs 1,701.44 crore (Bloomberg estimate: Rs 1,700.48 crore) Net profit up 7% at Rs 502.02 crore Vs Rs 470.62 crore (estimate: Rs 469.94 crore) Ebitda rose 4% at Rs 716.26 crore Vs Rs 691.21 crore (estimate: Rs 674.97 crore) Margins at 40.06% Vs 40.63% (estimate: 39.69%) Recommended a dividend of Rs 20 per share

Indian Bank Q4FY21 (Standalone, QoQ) NII down 23% at Rs 3,334.34 crore Vs Rs 4,313.28 crore Net profit up 232% at Rs 1,708.84 crore Vs Rs 514.28 crore GNPA at 9.85% Vs 9.04% NNPA 3.37% Vs 2.35% Provisions down 24% at Rs 1,752.48 crore Vs Rs 2,314.35 crore Recommended a dividend of Rs 2 per share

V-Mart Retail Q4FY21 (QoQ) Revenue down 25% at Rs 351.87 crore Vs Rs 470.01 crore Net loss of Rs 1.47 crore Vs Net profit of Rs 47.87 crore Ebitda down 68% at Rs 33.55 crore Vs Rs 103.82 crore Ebitda margin at 9.5% Vs 22.1%

NCC Q4FY21 (Consolidated, QoQ) Revenue up 32% at Rs 2,816.60 crore Vs Rs 2,126.90 crore Net profit up 64% at Rs 116.83 crore Vs Rs 71.20 crore Ebitda up 19% at Rs 305.69 crore Vs Rs 256.15 crore Ebitda margin at 10.9% Vs 12% Recommended dividend of Re 0.80 per share

News Update:

HDFC Bank: The Reserve Bank of India has levied a fine of Rs 10 crore on HDFC Bank for irregularities in the bank’s auto loan portfolio. RBI had received a whistleblower complaint regarding these irregularities. After reviewing the documents in the matter of marketing and sale of third-party non-financial products in HDFC Bank’s auto loan division, the regulator found the bank had breached the Banking Regulation Act provisions.

Mahindra & Mahindra: To spend Rs 12,000 crore in the next three years to launch new products across commercial and passenger vehicle segment, said CFO Manoj Bhat. The company will deploy Rs 9,000 crore in the auto sector that includes investment in EVs till FY24. To spend Rs 3000 crore in the farm sector. In addition, M&M will spend Rs 5,000 crore for investments in group companies. Further, the ompany will launch 23 new products across the passenger and commercial vehicle segment by 2026.

Solar Industries India: Appointed Moneesh Agrawal, Senior General Manager, Accounts and Shalinee Mandhana, General Manager, Finance as Joint Chief Financial Officers effective May 27.

Manappuram Finance: Board of Directors may consider issuances of debt securities in June. The company is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore and offshore securities market by Public Issue, on Private Placement Basis or through issuing Commercial Paper.

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

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