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

Asian stocks climbed Thursday as traders took the latest Federal Reserve comments about the prospect of tapering stimulus in their stride.Shares rose in Japan, Australia and South Korea. U.S. contracts advanced after the S&P 500 and Nasdaq 100 posted a modest increase. The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.54% to 15,715 as of 8:05 a.m.

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

Major economic Data:

  • INR: Nikkei Services PMI (May) on 3rd June, 2021
  • INR: RBI Interest Rate Decision on 4th June, 2021
  • USD: Initial Jobless Claims on 3rd June, 2021
  • USD: ISM Non-Manufacturing PMI (May) on 3rd June, 2021

Earnings to Watch:

Earnings: APL Apollo, Arvind Fashion, GSPL, Nucleus Software, Quess Corp, Nilkamal

International Markets:

U.S & Europe

Particulars    2nd June. Chg Chg(%)
Nasdaq 13,756.33 19.85 0.14
Dow 34600.38 25.07 0.073
FTSE** 7,108.00 27.54 0.39
CAC** 6,521.52 32.12 0.49
DAX 15,602.71 35.35 0.23
Dow Fut.* 34,604.50 14.5 0.04

Asian markets:

Particulars    3rd June. Chg Chg(%)
SGX Nifty 15,715.00 85 0.54
Nikkei 29,056.03 109.89 0.38
Straits Times 3,163.73 2.69 0.09
Hang Seng 29,334.35 36.73 0.13
Shanghai 3,608.17 11.03 0.31

ADR Watch:

Particulars       2nd June. Chg Chg(%)
Dr Reddy 72.39 -0.39 -0.54
HDFC Bank 76.42 0.39 0.51
ICICI Bank 17.94 -0.01 -0.06
Infosys 19.29 0.02 0.1
Tata Motor 22.34 0.55 2.52
Wipro 8.11 0.1 1.25

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR         73.09  0.26
Brent 71.80    0.63
Gold 1908.05      -0.10
Silver 28.277  0.26

FIIs & DII

Particulars     2nd June.    1st June.
FIIs 921.10  -449.86
DIIs 241.76 230.49

 

Results:

MTAR Technologies Q4FY21 (Consolidated, QoQ) Revenue up 25% at Rs 69.10 crore Vs Rs 55.20 crore Net profit up 1.05 times at Rs 18 crore Vs Rs 8.8 crore Ebitda up 72% at Rs 29.90 crore Vs Rs 17.40 crore Ebitda margin at 43.3% Vs 31.5% Recommended a final dividend of Rs 3 per share. Record date for the same is June 23.

Ratnamani Metals & Tubes Q4FY21 (Consolidated, QoQ) Revenue up 57% at Rs 696.07 crore Vs Rs 442.53 crore Net profit up 82% at Rs 109.42 crore Vs Rs 60.15 crore Ebitda up 96% at Rs 158.83 crore Vs Rs 81.18 crore Ebitda margin at 22.8% Vs 18.3% Recommended a dividend of Rs 14 per share Approved issuance of NCDs for Rs 500 crore

Brokerage Radar:

CLSA ON MOTHERSON SUMI: Strong Q4,But Likely in the price. Increase FY22/FY23 EPS Estimates by 2%-3%.Constructive on medium-term revenue & Margin Trajectory.

News Update:

Reliance Industries: Process of separating oil-to-chemicals businesses into a subsidiary is expected to be completed in 2021, Chairman Mukesh Ambani said. The company operated O2C facilities at near 100% by shifting focus to export markets. It will continue to upgrade strategy and roadmap to achieve net carbon zero target sooner than 2025. Further, it will reach peak gas production of 30 mmscmd from its three fields in KG-D6 block by 2023. Two fields already in production, third field to begin output in FY23. Field to meet 15% of India’s gas demand by 2023, reduce dependence on imports. Reliance Jio and Qualcomm successfully tested 5G solutions in India, achieving 1Gbps speed on Jio 5G core network and 5G smartphones. The company has pre-paid $7.8 billion of long-term foreign currency debt during FY21. Further, it has submitted a proposal for the application of Niclosamide as a potential drug against Covid-19.

Tata Power: The company’s wholly-owned subsidiary, Tata Power Solar, has received a Letter of Award to build 210 MWp of Solar PV projects for NTPC in Gujarat. The total order value of the projects is Rs 686 crore. The commissioning date for NTPC is set for November 2022. With this addition, the order pipeline of Tata Power Solar stands at about 2.8 GW with an approximate value of Rs 13,000 crore.

Wipro: Sold its entire stake in Denim Group for $22.42 million. In March 2018, the company had acquired a 33.33% stake in Denim Group and Denim Group Management, LLC for $8.83 million. Further, the company has bought a minority stake in Squadcast Inc. for $1.2 million. It has also partnered with Finastra to help corporate banks across AsiaPacific accelerate their digital transformation. The companies will create an offering that will combine Wipro’s comprehensive services catalogue with Finastra’s front-to-back trade finance and cash management solutions.

NHPC: Board to meet on June 10 to consider a proposal for raising of debt up to Rs 4,300 crore through issuance of corporate bonds, raising of term loans or external commercial borrowings in suitable tranches.

Shriram Transport Finance Company: Board to meet on June 7 to consider raising of funds by way of issue of equity shares, convertible securities or warrants through preferential issue.
Jaypee Infratech: Creditors’ panel to meet on June 7.

Wardwizard Innovations & Mobility: Sold 479 electric two-wheelers in May. The company has received booking orders for more than 2,100 units.

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

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