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

Stocks and bonds fell in Asia Wednesday after U.S. Federal Reserve officials hinted at a rapid paring of its balance sheet as part of its efforts to curb inflation stateside. Shares declined in Japan, South Korea and Australia, while U.S futures remained volatile after a fall in Wall Street. U.S. 10-year yield rose to the highest level since 2019. The dollar was near a three-week peak. The Singapore-traded SGX Nifty, an early barometer of India’s benchmark Nifty 50, fell 0.80% to 17,876 points as of 6:50 a.m. Oil dipped toward $100 a barrel amid expectations of fresh sanctions on Russia, including a U.S. ban on investment in the country and a European Union ban on coal imports. Elsewhere, Bitcoin slipped below $45,000.

Economic Calendar:

  • INR: Interest rate Decision on 8th 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 MARICO: U-P, TP Rs 530 Management Expects High-single-digit Topline Growth, Stable Margin Consumption Subdued Amid Weak Rural Sentiment & High Inflation Expect Gross Margin/EBITDA Margin To Be Stable YoY Expect EBITDA Growth Of 7% YoY.

NOMURA ON MARICO: Buy, TP Rs 665 Demand Held Up Relatively Well Against A High Base & Weak Consumption Trends India Vol Marginally +ve Vs Industry Vol decline In High-single Digits In Jan-Feb Est Cons Q4 Rev Growth Of 7.5% & EBITDA/Profit Growth Of 9%/5% YoY.

MORGAN STANLEY ON MINDTREE: EW, TP Rs 5100 Acquires Strategic Minority Stake in CHS Transaction will not be material Key rationale is to accelerate penetration into key healthcare a/c, expand payer/provider footprint & drive growth in value-based care, connected health.

CLSA ON BANKS: Mid-sized Banks Gaining Growth Momentum Momentum Is Strong And Collections Improving For IndusInd Bank, Residual MFI Provisions & Margins Will Be Key For IDFC First, Cost-to-income Trends Must Moderate For Improving Profitability.

JEFFERIES ON BANDHAN BANK: Buy, TP Rs 380 Reported Healthy Asset Growth At 16% YoY / 15% QoQ Collection Efficiency Improved To 95% In MFI & 96% Overall May See -ve Net Slippages In Q4 Sufficient Provision Buffers Should Keep Credit Costs Low

International Markets:

U.S. & Europe:

Particulars 5th Apr Chg Chg(%)
Nasdaq 14,204.17 -328.38 -2.26
Dow 34641.18 -280.70 -0.80
FTSE 7,613.72 54.8 0.72
CAC 6,645.51 -85.86 -1.28
DAX 14,424.36 -93.8 -0.65
Dow Fut.* 34611.9 -29.3 -0.09

Asian markets:

Particulars 6th Apr Chg. Chg(%)
SGX Nifty 17,863.50 -157.5 -0.87
Nikkei 27,262.05 -525.93 -1.89
Straits Times 3,426.52 -18.49 -0.54
Hang Seng 22,129.11 -373.2 -1.66
Shanghai 3,260.30 -22.42 -0.68

ADR Watch:

Particulars 5th Apr Chg. Chg.(%)
Dr Reddy 56.67 0.22 0.39
HDFC Bank 64.75 -2.92 -4.32
ICICI Bank 19.41 -0.31 -1.57
Infosys 24.38 -0.36 -1.46
Tata Motor 29.51 -0.18 -0.61
Wipro 7.86 -0.07 -0.88

Commodities & Currency:

Particulars Current Price Chg(%)
USD/INR 75.32 -0.29
Brent 106.75 0.09
Gold 1923.00 -0.23
Silver 24.425 -0.42

FIIs & DII:

Particulars 5th Apr 4th Apr
FIIs 374.89 1152.21
DIIs 105.42 1675.01

News Update:

Tata Steel: The company reported annual crude steel production of 1.9 crore tonnes–a growth of 13% year-on-year. During Q4 FY22, crude steel production rose 2% QoQ to 49 lakh tonnes. Deliveries grew 16% sequentially to 51.2 lakh tonnes– the highest ever for a quarter.

TVS Motor: The Chennai-based automaker will collaborate with Jio-BP to explore creating public electric-vehicle solutions.

Marico: The maker of Parachute coconut oil expects “marginal growth” in profit in the quarter ended March as consumption trends remained subdued amid weak rural sentiment, and aggravating inflation in global commodities due to geopolitical tensions.

Adani Green/Adani Enterprisea: To consider raising funds on April 8 by way of a rights issue, preferential allotment, including a qualified institutional placement or through any other mode.

Ruchi Soya: The company has allotted 6.61 crore shares offered via its follow-on public offering. It raised a total of Rs 4,300 crore so far.
Gufic: Receives DCGI approval for Thymosin Alpha-1 as an add-on therapy for the treatment of moderate-to-severe Covid-19 patients requiring ventilator support.

Tata Consultancy Services: The Indian IT bellwether will build Kansas Department of Labor’s unemployment insurance system transforming a legacy mainframe platform from the 1970s into a cloud-based system.

Bandhan Bank: The lender’s reported loans and advances grew 16% year-on-year to over Rs 1 lakh crore as on March 31, 2022. Total deposits grew 24% year-on-year to to Rs 77.98 crore. The CASA ratio stood at 41.6% in Q4. Collection efficiency for March was 96%.

UGRO Capital: The company has filed a draft prospectus for public issue of non-convertible debentures up to Rs 100 crore.

Oriental Hotels: To consider declaration of dividend on April 15.

Dish TV: Received RBI nod to divest its stake in Sri Lankan arm.

Source: Moneycontrol, Livemint,, Bloomberg, Investing

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