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

Most Asian markets have opened lower this morning, despite the S&P 500 scaling another record high overnight. Sentiment in the U.S. was boosted by the Federal Reserve’s commitment to supportive policy. Benchmark indices in Japan and South Korea fell, which in-turn weighed on the MSCI Asia Pacific index. Australian markets outperformed. The U.S. Dollar held gains while the treasury yields were steady. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 14,911, as of 7:00 a.m.

Key Data/ Action, Result and Board meeting to watch

Major economic Data:

  • INR: Deposit Growth on 9th April 2021
  • INR: Bank Loan Growth on 9th April, 2021
  • USD : Initial Jobless Claims on 8th April, 2021


Markets:U.S & Europe

Particulars 7thApril Chg Chg(%)
Nasdaq 13,688.84 -9.54 -0.07
Dow 33446.26 16.02 0.048
FTSE 6,885.32 61.77 0.91
CAC 6,130.66 -0.68 -0.01
DAX 15,176.36 -36.32 -0.24
Dow Fut.* 33377 49 0.15

Asian markets:

Particulars 8thApril Chg Chg(%)
SGX Nifty 14,913.50 50 0.34
Nikkei 29,598.42 -132.37 -0.45
Straits Times 3,193.97 -1.79 -0.06
Hang Seng 28,758.50 83.7 0.29
Shanghai 3,468.71 -10.92 -0.31

ADR Watch:

Particulars 7th April Chg Chg(%)
Dr Reddy 62.56 -0.38 -0.60
HDFC Bank 74.59 -0.84 -1.11
ICICI Bank 15.59 0.11 0.71
Infosys 19.21 -0.13 -0.67
Tata Motor 20.45 -0.39 -1.87
Wipro 6.54 0.01 0.15

Commodities & Currency

Particulars Current Price Chg(%)
USD/INR 74.55 1.53
Brent 62.73 -0.68
Gold 1735.85 -0.33
Silver 25.087 -0.63


Particulars 7thApril. 6th April
FIIs         227.42   -1092.75
DIIs 381.08      416.59


Brokerage Radar:

Jefferies On Indian Metals:

Steel companies should deliver a new high on Ebitda margins driven by sharp rally in steel prices India HRC steel prices rose 46% YoY and are up 20% QoQ LME Aluminium prices also improved 24% YoY and were up 9% QoQ Expect Q4 Ebitda for Tata Steel & JSW Steel to rise ~25% QoQ and ~150% YoY Hindalco’s Q4 Ebitda should rise 33% YoY but should be flattish QoQ Coal India’s blended realisations may improve 7% QoQ but still remain 4% lower YoY

Motilal Oswal On Indian I.T.:

Gartner revised its 2021 I.T. services spend higher for the third straight quarter ISG index starts CY21 with all-time high Annual Contract Value (ACV); maintains double-digit guidance Expect significant uptick in traditional I.T. for CY21 Industry may witness growth-led talent crunch Strong commentary on AAS and managed services is encouraging for Indian I.T. services industry from a revenue perspective Build-in

double-digit growth across both largecap and midcap I.T. services vendors Like Infosys & HCL Tech among tier-I and L&T Technology Services &Cyient among tier-II companies.


On Titan Maintains buy rating Price target of Rs 1,650 Jewellery segment growth has exceeded expectations and is likely to remain strong Lockdowns in Maharashtra, which contributes 15-20% of overall revenue may see a short-term impact Strong momentum and pent-up demand will drive further upgrades to forecasts Remains preferred pick in the discretionary space.

News Update:

I.T. Stocks:

ISG and Gartner released a strong forecast for industry growth in 2021. While Gartner revised its I.T. spend forecast higher for the third straight quarter, ISG hinted at a likely upward change over the next three quarters during its industry outlook call.

Bharti Airtel: Has launched ‘Airtel loT’:

an integrated platform that enables enterprises to harness the power of Internet of Things and be ready for the emerging era of connected things. Airtel loT is an end-to-end platform with the capability to connect and manage billions of devices and applications in a secure and seamless fashion. MG Motor, Pine Labs, Paytm, Kirloskar, BSES, Genus, and Kentare among the many businesses across manufacturing, logistics, automobiles, BFSI and utilities that are already using Airtel’s loT solutions.

Godrej Consumer Products:

Demand trends in categories in key countries remained stable. Expect sales growth in the thirties for the India business, driven by strong volume growth and price hikes. Expect constant currency sales growth in the mid-twenties on a consolidated business. Indonesia business likely to post mid-single digits constant currency sales growth. Africa, U.S. and Middle East business may see constant currency sales growth close to the thirties. Latin America business will remain strong in constant currency terms.

Hindustan Copper:

Board has approved opening of QIP of equity shares of face value of Rs 5 each on April 7. The floor price of Rs 125.79 per equity share is at a 13.33% discount to Wednesday’s closing price.

Hindustan Construction Company:

The company’s loan default amount as of March 31 stands at Rs 1,959.41 crore and the total outstanding borrowing from lenders stands at Rs 4,010.93 crore.


Has temporarily suspended Lucknow-New Delhi Tejas Express until April 30, due to recent increase in coronavirus cases.

Prakash Industries:

Achieved highest ever sale of around 2.72 lakh tonnes of steel, up 8.8% QoQ and 31.1% YoY. For FY21, the company’s sales stood at 9.54 lakh tonnes, up 3.1% year-on-year. DRI production was also the highest ever at 9.05 lakh tonnes, up 10.7% year-on-year.

Source: MoneyControl, Business Standard, Bloomberg, Investing


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