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

Asia stocks rose in early trade Thursday after technology shares weighed on U.S. markets, offsetting optimism over solid corporate earnings and economic reports. Shares opened higher in Australia and Japan, where trading resumes after holidays. Futures pointed higher in Hong Kong and U.S. contracts were little changed after the tech-heavy Nasdaq 100 ended in the red, while the S&P 500 notched a notched a small gain. The benchmark 10-year Treasury yield edged higher in Asia’s morning. The Bloomberg Commodity Spot Index returned to its highest level since 2011 as growth bets boost demand, while poor weather and transportation bottlenecks threaten supply.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Deposit Growth on 7th May, 2021
  • INR: Bank Loan Growth on 7th May, 2021
  • USD: Nonfarm Payrolls (Apr) on 7th May, 2021
  • USD: Initial Jobless Claims on 6th May, 2021

Nifty Results: Tata Consumer Products, Hero MotoCorp

International Markets:

U.S & Europe

Particulars    5th May. Chg Chg(%)
Nasdaq 13,582.42 -51.08 -0.37
Dow 34230.34 97.31 0.29
FTSE 7,039.30 116.13 1.68
CAC 6,339.47 87.72 1.4
DAX 15,170.78 314.3 2.12
Dow Fut.* 34,150.50 32.5 0.1

 

Asian markets:

Particulars    6th May. Chg Chg(%)
SGX Nifty 14,759.50 66.5 0.45
Nikkei 29,391.34 578.71 2.01
Straits Times 3,168.96 15.37 0.49
Hang Seng 28,683.94 265.96 0.94
Shanghai 3,463.99 17.13

0.5

ADR Watch:

Particulars       5th May. Chg Chg(%)
Dr Reddy 70.25 1.20 1.74
HDFC Bank 69.84 0.65 0.94
ICICI Bank 16.31 0.35 2.19
Infosys 18.29 0.18 0.99
Tata Motor 19.71 0.25 1.28
Wipro 7.24 0.11

1.54

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.91 0.08
Brent 69.04 0.12
Gold 1788.55 0.24
Silver 26.532 0.04

FIIs & DII

Particulars     5th May.        4th May.
FIIs    -1110.50          -1772.37
DIIs   -240.61        -2289.46

Non-Nifty Results:

Adani Power, Adani Transmission, Apcotex Industries, Bombay Burmah Trading Corp, Blue Star, Caplin Point Laboratories, Century Textiles & Industries, Coforge, CreditAccess Grameen, Foseco India, Hikal, ICRA, IIFL Finance, Procter & Gamble Health, Praj Industries, Raymond, Solara Active Pharma Sciences, Sundram Fasteners

Tata Steel Q4FY21 (Consolidated, YoY):

Revenues up 38.8% at Rs 49,977.4 crore Vs Rs 36,009.37 crore (BBG Estimate: Rs 46,105.4 crore) Net profit at Rs 6,644.15 crore Vs Net loss of Rs 1,481.34 crore (BBG Estimate: Rs 7,421.8 crore) Ebitda up 2.95 times at Rs 14,184.1 crore Vs Rs 4,799.2 crore (BBG Estimate: Rs 12,820.1 crore) Margins at 28.4% Vs 13.3% (BBG Estimate: 27.8%) FY21 net debt stood at Rs 75,389 crore; 28% lower compared to the previous year end Reduced gross debt by over Rs 20,000 crore during the quarter Full year de-leveraging was about Rs 28,000 crore Recommended a dividend of Rs 25 per for FY21

Adani Green Energy Q4FY21 (Consolidated, YoY):

Revenue up 42% at Rs 986 crore Vs Rs 696 crore Net profit up 86% at Rs 104 crore Vs 56 crore Ebitda at Rs 626 crore Vs Rs 224 crore Ebitda Margins at 63.5% Vs 32.2% Sale of Energy up 24% to 1,614 million units Vs 1,303 million units Sees Rs 15,000 crore of capex in FY22 Vs Rs 8,500 crore spent in FY21 Added 925MW operational capacity in FY21

News Update:

Cipla:

Roche has received emergency use authorisation in India for its investigational antibody cocktail (Casirivimab and Imdevimab) used in the treatment of Covid-19. The EUA will now enable Roche to import the globally manufactured product batches to India which will be marketed and distributed in India through a strategic partnership with Cipla.

Wipro:

Has partnered with Transcell Oncologics to transform vaccine safety assessment using augmented intelligence. Transcell’s stem cell technology with the augmented intelligence capabilities of Wipro HOLMES® to improve the safety of global vaccine immunisation programs. Also, by applying AI to the vaccine development process, our solution can predict adverse neurovirulent impacts resulting from vaccinations, the company said.

Maharashtra Seamless

ONGC has issued the letter of award to Jindal Drilling & Industries for the deployment of Jack-up drilling rig ‘Jindal Explorer’ owned by Maharashtra Seamless on charter hire contract for a period of 3 years.

Godrej Industries:

Board has approved the Information memorandum for issuance of up to 7,500 listed, unsecured NCDs of the face value of Rs 10 lakh each, aggregating to Rs 750 crore on a private placement basis.

Indian Bank: Has declared Saravan Stores (Gold Palace) bad loan account as fraud and reported it to the RBI.

Bank of India: Has approved allotment of up to 42.11 crore shares at Rs 71.23 per share aggregating up to Rs 3,000 crore on a preferential basis to the Government of India.

Quess Corp: Has declared an interim dividend of Rs 7 per share for FY21. The record date for the same is May 13.

Tata Motors: Competition Commission of India has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements.

IDBI Bank: Cabinet Committee on Economic Affairs has approved the strategic divestment of IDBI Bank, along with a transfer of management control.

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

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