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

Stocks in Asia were mixed Tuesday amid an uptick in crude oil prices as the European Union and the U.S. weighed tougher sanctions against Russia for alleged atrocities in Ukraine during the ongoing war. Japanese and Australian equities were volatile, while South Korea declined. U.S. futures fell after a positive close in Wall Street, aided by technology stocks. Markets are closed for holidays in in Hong Kong and China. Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, rose 0.58% to 18,202 points as of 6:30 a.m. Commodities including oil and wheat advanced amid renewed fears about supply disruptions stemming from the war. Elsewhere, bitcoin rose above $46,500.

Economic Calendar:

  • INR: PMI Service on 5th 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:

CITI ON M&M FINANCE: Buy, TP Rs 190 March Update Highlights Strong Collections and Growth Pick-up Growth stronger than expected; expect stable NIM qoq Yield should be supported by healthy NPA recoveries in qtr.

MORGAN STANLEY ON HDFC-HDFC BANK: merger Proposed merger benefits both via access to long tail loans & funding Merger would be EPS-accretive in 1st full year (F25) RoE falls in near term given capital accretion, but loan growth pickup would imply pre-merger RoE by F26.

CLSA ON BAJAJ FINANCE: Sell, TP Rs 6500 4Q22 pre-qtrly Loan growth in line but customer acquisition soft AUM at Rs1.92tn up 6% QoQ/26% YoY BAF’s AUM growth outperformance vs HDFC BK has now declined from +15ppt pre-Covid to just 5ppt in FY22, thus believe val premium is unjustified

International Markets:

U.S. & Europe:

Particulars 4th Apr Chg Chg(%)
Nasdaq 14,532.55 271.05 1.9
Dow 34921.88 103.61 0.30
FTSE 7,558.92 21.02 0.28
CAC 6,731.37 47.06 0.7
DAX 14,518.16 71.68 0.5
Dow Fut.* 34875.20 -46.7 -0.13

Asian markets:

Particulars 5th Apr Chg. Chg(%)
SGX Nifty 18,192.00 95 0.52
Nikkei 27,708.30 -28.17 -0.1
Straits Times 3,430.92 13.95 0.41
Hang Seng 22,502.31 462.76 2.1
Shanghai 3,282.72 30.52 0.94

ADR Watch:

Particulars 4th Apr Chg. Chg.(%)
Dr Reddy 56.45 0.63 1.13
HDFC Bank 67.67 4.75 7.55
ICICI Bank 19.72 0.5 2.6
Infosys 24.74 0.13 0.53
Tata Motor 29.69 0.47 1.61
Wipro 7.93 0.04 0.51

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.54 -0.32
Brent 109.12  1.54
Gold 1929.20 -0.25
Silver 24.547 0.17

FIIs & DII:

Particulars 4th  Apr 1st Apr
FIIs 1152.21 3088.73
DIIs 1675.01 1145.28

News Update:

Vedanta: The company achieved highest ever alumina production of 19.7 lakh tonnes while its aluminium output rose 15% year-on-year to 22.7 lakh tonnes, helped by operational efficiencies. Reliance Industries: The company has received NCLT’s approval for scheme of amalgamation of the company and Reliance Syngas.

Bajaj Finance: Reports 26% year-on-year growth in core assets under management in the fourth quarter of 2021-22. AUMs stood at Rs 1.97 lakh core as on March 31, 2022, compared to Rs 1.53 lakh crore a year ago. Core AUM, excluding IPO financing receivables, grew 26%.

Glenmark: The company approved repurchase of an aggregate principal amount of $75 million of bonds due in 2022 by way of on-market purchases at an early redemption amount plus accrued and unpaid interest.

SBI Card and Payment Services: Carlyle Group will raise upto Rs 2,560.60 crore ($339 million) by selling its sale in the company. It will sell 2.92 crore shares at Rs 851.50-876.75 each—a 2.9% discount to Monday’s closing price of Rs 876.75.
Zomato: Competition Commission of India will investigate Zomato and Swiggy after the National Restaurant Association of India complained of alleged contravention of rules by the two food-delivery companies. The CCI Director General will submit the report in 60 days.

Mindtree: To consider declaration of final dividend on April 18.

Moil: The company’s recorded a turnover of Rs 1,436 crore in FY22, a growth of 22% over the previous fiscal. That’s marginally lower than the highest-ever turnover of Rs 1,441 crore in FY19.

BEML: The company’s provisional revenue from operations for FY22 crossed Rs 4,000 crore. Muthoot Finance: To consider declaration of interim dividend on April 26.

Tata Consultancy Services: The company has entered into a strategic partnership with Payments Canada to facilitate real-time transactions in that country. The company has also signed a multi-year, cloud-computing contract with a large American company.

PCBL: Commissioned 7.3 MW power plant at Palei, Gujarat.

IndusInd Bank: The bank’s deposits rose 15% year-on-year to Rs 2.93 lakh crore in FY22. CASA ratio stood at 42.8% in FY22 against 41.8% in FY21. Net advances grew 13% to Rs 2.39 lakh crore.

Tata Elxsi: To consider declaration of final dividend on April 20.

Federal Bank: The bank’s customer deposits rose 8.9% year-on-year to Rs 1.63 lakh crore in FY22. CASA ratio stood at 37% in FY22 against 33.8% in FY21. Gross advances increased 9.5% to Rs 1.34 lakh crore.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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