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

Asian equities have opened mixed this morning, even as their counterparts on Wall Street hit a record overnight. Benchmarks in Japan dipped while those in Australia and South Korea traded with gains. Equity markets in Hong Kong will remain shut due to a holiday. Treasury yields were steady while the U.S. Dollar and oil prices held overnight losses. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,723.50, as of 8:29 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Nikkei Services PMI (Mar) on 7th April 2021
  • INR: RBI Interest Rate Decision  on 7th  April, 2021
  • USD: EIA Short-Term Energy Outlook on 6th April, 2021
  • USD: Crude Oil Inventories on 7th April, 2021
  • Non-Nifty Earning: GM Breweries

International

Markets:U.S & Europe

Particulars      5th  April Chg Chg(%)
Nasdaq 13,705.59 225.48 1.67
Dow 33527.19 373.98 1.13
FTSE 6,737.30 23.67 0.35
CAC 6,102.96 35.73 0.59
DAX 15,107.17 98.83 0.66
Dow Fut.* 33347 -68 -0.2

   Asian markets:

Particulars        6th April Chg Chg(%)
SGX Nifty 14,723.50 1 0.01
Nikkei 29,863.10 -226.15 -0.75
Straits Times 3,206.44 -3.3 -0.1
Hang Seng 28,938.74 560.39 1.97
Shanghai 3,479.41 -4.98 -0.14

 

  ADR Watch:

Particulars                   5th April  Chg Chg(%)
Dr Reddy 62.12 -0.60 -0.96
HDFC Bank 75.84 -1.90 -2.44
ICICI Bank 15.83 -0.38 -2.34
Infosys 19.37 0.36 1.89
Tata Motor 20.93 -0.10 -0.48
Wipro 6.54 0.04 0.62

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.29 0.25
Brent 62.94 1.27
Gold 1734.80 0.35
Silver 25.0 0.89

FIIs & DIIs

Particulars 5th April    1st April
FIIs -931.66 149.41
DIIs 75.48 -296.84

 

Brokerage Radar:

Credit Suisse On Bajaj Finance:

Maintains neutral rating Price target of Rs 5,600 Expect loan growth to slow down to 21% CAGR over the medium-term from 35% CAGR High delinquencies in auto loans, high pricing pressure due to strong competition from banks in housing loans can lead to slow loan growth With higher share of unsecured loans and lower share of salaried customers, a second Covid-19 wave can impede credit cost normalisation Will look for any potential upward revision in FY22E credit cost guidance of 1.6%-1.7% Remain neutral on high valuations

JPMorgan On Brookfield India REIT:

Initiate coverage with Overweight rating Price target of Rs 270 REIT is a low-risk portfolio with 93% of value coming from compelled assets and further has limited expiries over FY22/23 Committed occupancy of the portfolio is 87% with scope for improvement as the market normalizes Has elongated lease expiry profile with 75% rent coming from MNCs Space open for acquisition-led growth in the future

HSBC On Avenue Supermarts :

Maintains buy rating Price target of Rs 3,500 New restrictions linked to another Covid-19 wave are near-term challenges but the company is well placed to mitigate the impact Earnings outlook is robust led by network rollout Anu pandemic-linked weakness offers a further opportunity to buy DMart still has a compelling investment case as revenue and profits will likely more than double between FY21-23

News Update:

Jindal Steel & Power:

Sales in March up 61% year-on-year at 7.86 lakh tonnes. Production up 21% year-on-year at 7.30 lakh tonnes. Quarterly Production has crossed 2.07 million tonnes. The company has posted highest ever production and sales in FY21 of 7.51 million tonnes and 7.28 million tonnes respectively. Exports accounted for 35% of the total sales in FY21 as compared to 13% last year.

RBL Bank:

The bank’s gross advances grew 2% year-on-year and 5% quarter-on-quarter to Rs 60,012 crore. Total deposits saw growth of 26% from last year and 9% from the previous quarter to Rs 73,123 crore. CASA Ratio for the Bank stood at 31.8% from 31.1% during the December quarter. Average Liquidity Coverage Ratio for the quarter was 154% Vs 164% in December 2020.

Maruti Suzuki:

Total production in March up 86.33% to 1.72 lakh units Vs 92,540 units last year.

Bajaj Finance:

Acquired 2.3 million new customers in the three months to March 31, compared with 1.9 million a year earlier. Total customers stood 48.6 million, compared with 42.6 million year-on-year. Deposit book stood at about Rs 25,800 crore as on March 31, compared with Rs 21,427 crore a year earlier. Assets under management stood at Rs 1.53 lakh crore Versus Rs 1.47 lakh crore year-on-year.

Avenue Supermarts:

Standalone revenue from operations in the fourth quarter stood at Rs 7,303.13 crore as compared to Rs 6,193.53 crore in the same period last year. Two years and older stores saw growth of 6% during January-February 2021. Growth for these stores in the first 15 days of March 2021 was a negative 9.4% due to implementation of full or partial lockdowns due to rising Covid-19 cases.

Container Corporation of India:

Q4 volumes up 12.5% year-on-year at 10.58 lakh TEUs (Twenty Foot Equivalent Units). FY21 volumes down 2.8% year-on-year at 36.43 lakh TEUs.

Source: MoneyControl, Bloomberg,Investing

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