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

U.S. equity futures and Asian stocks were steady Wednesday after a selloff in technology shares amid comments from Treasury Secretary Janet Yellen on interest rates that rattled markets. The dollar held gains. S&P 500 contracts were little changed following a climb in commodity, financial and industrial sectors that helped the gauge pare losses. Holidays in key markets including Japan, China and South Korea will limit trade in Asian hours.

Commodities rallied to the highest in almost a decade as a rebound from the pandemic in the world’s largest economies stokes demand for metals, food and energy. Treasury futures were steady, with cash markets closed in Asia.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Nikkei Services PMI (Apr) on 5th May, 2021
  • INR: Bank Loan Growth on 7th May, 2021
  • USD: ADP Nonfarm Employment Change (Apr) on 5th May, 2021
  • USD: Services PMI (Apr) on 5th May,2021

Nifty Results: TATA STEEL

International Markets:

U.S & Europe

Particulars    4th May. Chg Chg(%)
Nasdaq 13,633.50 -261.62 -1.88
Dow 34133.03 19.8 0.058
FTSE 6,923.17 -46.64 -0.67
CAC 6,251.75 -56.15 -0.89
DAX 14,856.48 -379.99 -2.49
Dow Fut.*

Asian markets:

Particulars    5th May. Chg Chg(%)
SGX Nifty 14,582.00 49.5 0.34
Nikkei 28,812.63 -241.34 -0.83
Straits Times 3,156.12 -23.01 -0.72
Hang Seng 28,542.95 -14.19 -0.05
Shanghai 3,446.86 -28.04 -0.81

ADR Watch:

Particulars       4th May. Chg Chg(%)
Dr Reddy 69.05 -1.43 -2.03
HDFC Bank 69.19 -0.60 -0.86
ICICI Bank 15.96 -0.37 -2.27
Infosys 18.11 -0.09 -0.49
Tata Motor 19.46 -0.20 -1.02
Wipro 7.13 -0.07 -0.97

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR       73.85 -0.09
Brent
Gold 1781.25 -0.59
Silver 26.672 -1.07

FIIs & DII

Particulars   4th May.   3rd May.
FIIs -1772.37 -2289.46
DIIs -2289.46 552.92

 

Non-Nifty Results:

Adani Enterprises, Adani Green Energy, Angel Broking, Blue Dart Express, Ceat, Craftsman Automation, Deepak Nitrite, Gillette India, JM Financial, Kirloskar Ferrous Industries, Maithan Alloys, Oracle Financial Services Software, ABB Power Products and Systems India, Shalby

Adani Ports & SEZ Q4FY21 (Consolidated, YoY) Revenue up 24% at Rs 3,607.9 crore Vs Rs 2,921.19 crore (BBG Estimate: Rs 3,721 crore) Net Profit Rs 1,287 crore Vs Rs 334 crore (BBG Estimate: Rs 1,465 crore) Ebitda up 39% at Rs 2,287.01 crore Vs Rs 1,644.02 crore (BBG Estimate: Rs 2376 crore) Ebitda Margins at 63.4% Vs 56.3% (BBG Estimate: 63.9%) Has recommended dividend of Rs 5 per share for FY21 Deepak Maheshwari resigned as Chief Financial Officer effective May 5 To seek shareholders’ approval for increasing borrowing limits

Adani Total Gas Q4FY21 (Consolidated, YoY) Revenue up 25% at Rs 614.47 crore Vs Rs 490.32 crore Net profit up 18% at Rs 143.73 crore Vs Rs 121.41 crore Ebitda at up 22% at Rs 204.67 crore Vs Rs 167.95 crore Ebitda margins at 33.3% Vs 34.2% Has recommended dividend of Re 0.25 per share for FY21

L&T Infotech Q4FY21 (Consolidated, QoQ) Revenue up 4% at Rs 3,269.4 crore Vs Rs 3,152.8 crore $ Revenue up 4.6% at $447.4 million Vs $427.8 million Constant currency revenue growth stood at 4.4% Net profit up 5% at Rs 545.2 crore Vs Rs 518.7 crore Ebit down 3% at Rs 632.9 crore Vs Rs 650.2 crore Ebit margins 19.4% Vs 20.6% Has recommended a final dividend of Rs 25 per share for FY21

News Update:

DOT Permission to Telcos:

Department of Telecommunications gave Bharti Airtel, Reliance Jio, Vodafone Idea and MTNL permission to conduct trials for use and application of 5G technology. The trial duration will be six months, including a two-month period for procurement and setting up of equipment. The operators have tied up with network equipment makers such as Ericsson, Nokia Corp., Samsung Telecommunications, and India’ Centre for Development of Telematics. Reliance JioInfocomm Ltd. will also be conducting trials using its indigenous technology.

Wipro:

To set up an innovation centre in Holborn, London. The company will invest £16 million over the next four years in the 20,000 sq. ft. innovation centre which will serve as Wipro’s flagship centre in the United Kingdom and offer technology expertise to companies in the U.K. and globally. The centre will be integral to providing advanced digital, cybersecurity and cloud expertise to both established and upcoming enterprises.

HDFC:

Sold part of pledged shares in Reliance Infrastructure. The company sold 52.88 lakh shares, representing 2.01% of the share capital, of Reliance Infra for Rs 22.86 crore between March 24 and May 3.

InterGlobe Aviation:

Board to meet on May 7 to consider raising funds by issue of equity shares through QIP.

Hindustan Aeronautics:

Has signed a memorandum of understanding with Rolls-Royce to establish packaging, installation, marketing and services support for Rolls-Royce MT30 marine engines in India.

Affle (India):

Approved closure of QIP on May 4 and issue a price of Rs 5,200 per share for 11.53 lakh shares to be allotted to the eligible QIBs. The issue price is at a discount of 4.11% to the floor price of Rs 5,422.94 per share.

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

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