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

U.S. equity futures and Treasuries fell Monday, while Asian shares were mixed, amid concerns over the prospect of aggressive Federal Reserve interest-rate hikes and stiffer sanctions on Russia. Shares were volatile in Japan, Australia and South Korea. The dollar was firm as investors evaluated a push by some European Union governments for new penalties on Russia. Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell 0.15% to 17,716 points as of 7:30 am. Oil prices declined, extending a drop sparked by a U.S. announcement of an unprecedented release of strategic reserves to fight elevated energy costs.

Economic Calendar:

  • INR: PMI Manufacturing on 4th April 2022.
  • INR: RBI MPC Minutes on 7th April 2022.
  • USD: Jobless Claims 7th April, 2022.
  • USD: WASDE Report on 8th April, 2022.

Brokerage Radar:

CLSA ON DEVYANI: O-P, TP Rs 202 Investor meet takeaways Management reiterated stance on network expansion, which will be funded by improving internal accruals Amid inflationary pressure, co has effected price hikes for both Pizza Hut & KFC See 4x Ebitda growth over FY21-24CL.

JP MORGAN ON STEEL: Coking Coal prices collapse, falling below 4Q average; Large steel price hikes imply large 1HFY23 margin expansion SAIL is most levered to coking coal costs; TATA & SAIL are well positioned in current environment OW Tata Steel & SAIL.

CITI ON ASIAN PAINTS: Neutral, TP Rs 3615 Strengthening Presence in Home Décor Operating environment remains volatile, particularly given backdrop of inflationary headwinds Expect additional pricing action (over & above 20%+ already taken) may be necessitated to offset impact.

CITI ON HDFC BANK: Buy, TP Rs 2000 Reported loan growth of 21% yoy – 1st qtr with loan growth >20% since 1QFY21 & up from 16% yoy reported in 3Q Sequential growth of 9% qoq is 2nd highest in past decade, leading to loans of Rs13.7tn, 3.5% ahead of est

International Markets:

U.S. & Europe:

Particulars 1st Apr Chg Chg(%)
Nasdaq 14,261.50 40.98 0.29
Dow 34818.27 139.20 0.40
FTSE 7,537.90 22.22 0.3
CAC 6,684.31 24.44 0.37
DAX 14,446.48 31.73 0.22
Dow Fut.* 34776.00 43.3     -0.12

Asian markets:

Particulars 4th Apr Chg. Chg(%)
SGX Nifty 17,705.00 -38 -0.21
Nikkei 27,626.77 -39.21 -0.14
Straits Times 3,417.77 -1.34 -0.04
Hang Seng 22,269.49 229.94 1.04
Shanghai 3,282.72 30.52 0.94

ADR Watch:

Particulars 1st Apr Chg. Chg.(%)
Dr Reddy 55.82 0.09 0.16
HDFC Bank 62.92 1.59 2.59
ICICI Bank 19.22 0.28 1.48
Infosys 24.61 -0.28 -1.12
Tata Motor 29.22 1.27 4.54
Wipro 7.89 0.18 2.33

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.79 0.00
Brent 104.15 -0.22
Gold 1920.70 -0.16
Silver 24.677 0.09


Particulars 1st  Apr 31st Mar
FIIs 1909.78 3088.73
DIIs -183.79 1145.28

News Update:

IGL: The company raised piped gas price by Rs 5/SCM in Delhi. It also increases price of CNG by Rs 0.8/Kg effective April 1.

Hero MotoCorp: The company’s sales fell 21.98% in March 2022. Sales stood at 4,50,154 units as compared to 5,76,957 in March 2021.

PVR: The company has discontinued operations of 23 screens across 9 properties on expiry of their lease with Cineline India.

Dr Reddy’s: The company will acquire cardiovascular brand Cidmus from Novartis AG for $61 million.

TVS Motors: The company’s sales fell 4.55% in March 2022. Sales stood at 3,07,954 units as compared to 3,22,643 in March 2021.

JSW Energy: The company subsidiary, JSW Neo Energy has entered with the government of Chhattisgarh for setting up a 1,000 MW capacity of Hydro Pumped Storage Project viz. Hasdev Bango Pumped Storage Project, in Chhattisgarh.

Future Enterprise: The company has defaulted on an aggregate amount of Rs 2,835.65 crore as on March 31, to a consortium of banks and lenders under the one time resolution plan.

Angel One: The company declared interim dividend of Rs 7 per share of face value of Rs 10 per share.

HCL Technologies: The company will consider declaration of interim dividend on April 21 and April 22.

HDFC: Bank’s loan book stood at Rs 8,367 crore in Q4 compared to Rs 7,503 crore in the corresponding quarter of the previous year. The bank’s gross income from dividend stood at Rs 128 crore on March 31, 2022.

Power Grid: The company has transferred balance 26% equity shareholding of Powergrid Vizag Transmission to PGlnvlT at a price of Rs 330.78 crore. The company has relinquished its right on additional revenue accruing to Powergrid Parli Transmission, Powergrid Warora Transmission and Powergrid Jabalpur Transmission to PGlnvlT for Rs 304.15 crore.

Cummins India: Cummins Research and Technology, a 50:50 joint venture between the company and its US arm is voluntary liquidated. CRTIPL, as on March 31, 2021 was Rs. 279 lakhs constituting 0.059% of the consolidated net worth of the company

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