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

Asian stocks opened slightly higher after U.S. indices gained on positive economic data. Shares edged up in Japan, South Korea and Australia. U.S. contracts were in the green after rallies in U.S. benchmarks overnight, which included a fresh record for the Dow Jones Industrial Average. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 14,845 as of 7:15 a.m.
Elsewhere, spot iron ore broke $200 a tonne for the first time, while copper approached a record high. Oil climbed.

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: Unemployment Rate (Apr) on7th May,2021

Nifty Results: HDFC, Hero MotoCorp

International Markets:

U.S & Europe

Particulars    6th May. Chg Chg(%)
Nasdaq 13,632.84 50.41 0.37
Dow 34548.53 318.19 0.93
FTSE 7,076.17 36.87 0.52
CAC 6,357.09 17.62 0.28
DAX 15,196.74 25.96 0.17
Dow Fut.* 34,450.00 8 0.02

Asian markets:

Particulars    7th May. Chg Chg(%)
SGX Nifty 14,876.50 79.5 0.54
Nikkei 29,414.00 82.63 0.28
Straits Times 3,193.63 20.63 0.65
Hang Seng 28,801.28 163.82 0.57
Shanghai 3,448.77 7.49 0.22

 

ADR Watch:

Particulars       6th May. Chg Chg(%)
Dr Reddy 70.69 0.44 0.63
HDFC Bank 70.55 0.71 1.02
ICICI Bank 16.66 0.35 2.15
Infosys 18.60 0.31 1.69
Tata Motor 20.39 0.68 3.45
Wipro 7.52 0.28 3.87

 

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 73.76 -0.21
Brent 68.25     0.23
Gold 1816.65  0.05
Silver 27.508  0.11

FIIs & DII

 

Particulars   6th May.     5th May.
FIIs   1222.58    -1110.50
DIIs       -632.51   -240.61

 

Non-Nifty Results:

Cholamandalam Investment and Finance Company, Dabur India, EIH, Great Eastern Shipping Co, Godrej Agrovet, Grindwell Norton, Kansai Nerolac Paints, Mangalore Refinery & Petrochemicals, Navin Fluorine International, R Systems International, Steel Strips Wheels, Sutlej Textiles & Industries

Hero MotoCorp Q4FY21 (Standalone, QoQ):

Revenue down 11% at Rs 8,686 crore Vs Rs 9,776 crore (BBG estimate: Rs 8,416 crore) Net profit down 17% at Rs 865 crore Vs Rs 1,084 crore (BBG estimate: Rs 799 crore) Ebitda down 14% at Rs 1,211 crore Vs Rs 1,413 crore (BBG estimate: Rs 1,063 crore) Margins at 13.9% Vs 14.5% (BBG estimate: 12.6%) Recommended final dividend of Rs 25 per share and a special dividend of Rs.10 per share.

Tata Consumer Q4FY21 (QoQ):

Revenue down 1% at Rs 3,037.22 crore Vs Rs 3,069.56 crore (BBG Estimate: Rs 2,856.4crore) Net profit down 44% at Rs 133.34 crore Vs Rs 237.03 crore (BBG Estimate: Rs 186.9 crore) Ebitda down 17% at Rs 300.2 crore Vs Rs 361.33 crore (BBG Estimate: Rs 353.2 crore) Margin at 9.9% Vs 11.8% (BBG Estimate: 12.4%) Recommended a final dividend of Rs 4.05 per share Employee benefits expense 12.02% to Rs 270.22 crore Other expenses rose 16.3% to Rs 404.40 crore

Blue Star Q4FY21 (Consolidated, QoQ):

Revenue up 43% at Rs 1,611.56 crore Vs Rs 1,123.89 crore Net profit up 85% at Rs 67.97 crore Vs Rs 36.72 crore Ebitda up 25% at Rs 101.81 crore Vs Rs 81.56 crore Ebitda margins at 6.3% Vs 7.3% Recommended a final dividend of Rs 4 per share for FY21

News Update:

IMF to revisit growth forecast for India due to surge in COVID-19 cases:

The International Monetary Fund said on Thursday the recent jump in COVID-19 cases in India posed downside risks to the Fund’s April forecast for 12.5% growth in India’s economic output in fiscal years 2021 and 2022.

Credit Suisse cuts FY22 GDP forecast to 8.5-9%

| Credit Suisse has sharply lowered its real GDP growth forecast for this fiscal year to around 8.5-9 percent, citing economic disruptions in the country due to the raging second wave that is likely to shave 100-150 bps growth off the economy. The Swiss brokerage has also warned that it will delay the economy reaching potential growth rate by an additional two-three years beyond 2022-23.

M&M:

To open an advanced design centre for mobility products in the U.K. The company will set up Mahindra Advanced Design Europe in the West Midlands, U.K. The new Centre of Excellence will be a part of the Mahindra Global Design Network that includes the Mahindra Design Studio in Mumbai, India, and Pininfarina Design in Turin, Italy. This renews the company’s commitment to design and develop dynamic and authentic products with global appeal.

Sadbhav Infrastructure Project:

Has entered into the Debenture Trust Deed to raise Rs 700 crore from the investors led by Allianz Global Investors and AMP Capital out of which a sum of Rs 550 crore has already been funded by the investors. Further SIPL has sold 7% of units in IndInfravit Trust to CPP Investments for a total consideration of Rs 441 crore. The above long term funding and sale of units will help the company to inter alia meet repayment of all its existing short term debt obligations and to fund the ongoing portfolio of Hybrid Annuity Model road assets of the company
NLC India: Has allotted 13,000 Commercial Papers of the face value of Rs 5 lakh each, aggregating to Rs 650 crore.

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

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