Indian Market Outlook:

The Key benchmark indices fell nearly one percent over the week led by mixed global and domestic cues including rise in US inflation higher than expectation, vaccinations supply issue and rising COVID-19 cases in India led to the extension of lockdown in various states. Nifty ended the week with 0.96 percent lower at 14677 points while the Sensex ended with 0.96 percent lower at 48732 points. Broader market outperformed the key benchmark indices. BSE Midcap index ended 0.49 percent lower, while the BSE Small cap index fell 0.08 percent, during the course of the week. Bank Nifty underperformed the key benchmark indices during the week. Foreign Institutional Investors were the net Sellers during the week; sell equities worth Rs.3620 crores while the DIIs were the net sellers of Rs.1244 crores. The US consumer prices rose sharply in April and drove the rate of inflation to the highest level seen in nearly 13 years – 4.2 percent versus expectations of a 3.6 percent increase. Rob Subbaraman, Head of Global Macro Research of Nomura believes that the retail inflation will go higher in May and in June it will rise further. Any potential hike in U.S. interest rates because of inflation would be an area of concern for India as foreign funds, which were supporting a rally in recent months, could move back to an extent. Falling COVID cases over the three days should provide support to the market. As automotive showrooms remain shut across the country following lockdown calls made by a number of states, auto companies stare at a poor Q1FY22. It will however be better than last year’s Q1 when there were zero sales for six weeks.

Trade AnyTime AnyWhere With Elite Empower Mobile App

Elite-Empower-App-Promotional-Banner-img1

Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month      1 Year
Gold 1843.85 0.65 1.38 -2.90 4.37
Silver 27.51 0.15 -0.58 13.58 67.44
Platinum 1231.1 -2.11 -6.65 22.69 56.71
USD/INR 73.3 0.07 0.95 -1.44 -2.89
Crude 65.51 0.94 9.02 58.47 137.70

Global Weekly Events

Date Region Event Description Forecast Previous
May 17,2021 INR WPI Inflation (YoY) (Apr) 9.05% 7.39%
May 17,2021 CNY Industrial Production (YoY) (Apr)  9.8% 14.1%
May 18,2021 USD Building Permits (Apr)  1.770M 1.759M
May 19,2021 GBP CPI (YoY) (Apr)       1.4%     0.7%
May 19,2021       USD Crude Oil Inventories -0.427M
May 20,2021       USD Initial Jobless Claims 473K

Get All Your Mutual Fund Portfolio Returns on Your Mobile by Elite Kuber App


Elite-Kuber-Mutual-Fund-Promotional-Banner-img

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reverse Repo Rate 3.35% 3.25%
Bank Rate 4.25% 4.25%
 Reserve Ratio CRR 3.50% 3%
SLR 18.00% 18.00%
 Inflation Rate Wholesale Price Index 7.39% 4.17%
Consumer Price Index 4.29% 5.52%
 Trade Data Export ($ Million) 30630 34450
Import ($ Million) 45720 48380
  IIP 22.4% -3.4%

 

Domestic Indices Closing (14th May) Change %Change
BSE Sensex 48,732.55 -473.92 -0.96
Nifty 14,677.80 -145.35 -0.98
Mid Cap 20,507.79 -100.82 -0.49
Small Cap 22,200.54 -17.56 -0.08
Bank Nifty 32,169.55 -734.95 -2.23

 

Global Indices Closing (14th May) Change %Change
Dow Jones 34,382.13 -395.63 -1.14
Nasdaq 13,429.98 -322.26 -2.34
FTSE 7,043.61 -86.10 -1.21
Nikkei 28,084.47 -1,273.35 -4.34
Hang Seng 28,027.57 -583.08 -2.04
Shanghai Com 3,490.38 71.51 2.09

 

Net Inflow (Cr) FII DII
10-May-2021 583.69 -476.26
11-May-2021 -336 -676.67
12-May-2021 -1,260.59 -704.36
14-May-2021 -2,607.85 613.26
Total -3620.75 -1244.03
     

 

Top Gainers Closing Price Prev Close Chg (%)
UPL 743.30 633.00 17.42
IOC 101.50 92.60 9.13
Coal India        146.80 134.60 9.06
Asian Paints 2774.5 2549.05 8.84
NTPC 111.40 103.50 8.10

 

Top Losers Closing Price Prev Close Chg (%)
Grasim Ind.        1367.00 1447.90 -5.59
Kotak Mahindra Bank        1706.65 1788.25 -4.56
Axis Bank 685.00 715.75 -4.30
IndusInd Bank 890.85 924.95 -3.69
Bajaj Finance 5330.15 5528.80 -3.59

Source: Investing, NDTV, BSE, Livemint, Economic Times

Get Stock Market Recommendation By Our Research Analysts

Market-Research-Promotional-Banner-img5

Economic News:

  • India’s exports in April jumped nearly three-fold to USD 30.63 billion on account of healthy growth in sectors like gems and jewellery and engineering, even as the trade deficit widened to USD 15.1 billion, as per commerce ministry data released on Friday. The country’s merchandise exports stood at a lowly USD 10.36 billion in April 2020, hit by the COVID-19 lockdown. Trade deficit in that month was USD 6.76 billion. Imports too rose over three-fold to USD 45.72 billion last month as against USD 17.12 billion in April 2020. In percentage terms, exports and imports grew by a record 195.72 per cent and 167 per cent respectively, mainly due to the low base effect.
  • Finance minister Nirmala Sitharaman will hold the next Goods and Service Tax Council meeting on May 28, via video conferencing, she said in a Twitter post on Saturday. “Smt Nirmala Sitharaman will chair the 43rd GST Council meeting via video conferencing at 11 AM in New Delhi on 28th May 2021,” the Twitter post said. The meeting will be held after a gap of more than six months, following demands from state finance ministers including those of West Bengal and Punjab.

Industry News:

  • Indian steel industry is facing an interesting scenario. First, the domestic flat category prices that increased around 47% during the last six months are still at a discount of minimum 10% with global prices. The current HRC 2.5 mm structural grade is ruling at an average price of Rs 67,000/t ($905/t) ex-works Mumbai (without GST) and the spread between HRC and CRC has widened to Rs 14,000/t against the normal premium of Rs 5,000-6,000/t. For rebar, while it is ruling at Mumbai at Rs 50,700/t ($685/t, without GST), the rebar for Turkey is prevailing at $770/t.
  • UK’s Cairn Energy Plc has brought a lawsuit in the US to pierce the corporate veil between the Indian government and its owned flag carrier Air India so as to seize its overseas assets to recover USD 1.7 billion it has been awarded by an international arbitration tribunal for being taxed retroactively. Now, the firm has begin bringing lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover the money awarded, three sources with direct knowledge of the development said

Company News:

  • Larsen & Toubro Ltd.’s fourth-quarter profit rose beating estimates as its order flow remained higher than its quarterly average. Net profit of India’s largest engineering-to-construction company increased 24.8% over last year to Rs 3,281 crore in the quarter ended March, it said in its exchange filings. That compares with the Bloomberg consensus estimate of Rs 3,043 crore. Revenue rose 8.7% over last year to Rs 48,087.9 crore, compared with the consensus estimate of Rs 48,602 crore. Operating profit rose 24.8% to Rs 6,388.93 crore. Analysts polled by Bloomberg were expecting Rs 5,516.8 crore.
  • Cipla reported a 68 per cent year-on-year rise in its consolidated net profit of Rs. 413.4 crore for the quarter ended March, which was sharply below analysts’ estimate. The company’s consolidated revenues for the quarter rose 5.2 per cent on-year to Rs. 4,606.45 crore, which was also sharply below Street’s estimate. The company’s board approved a final dividend of Rs. 5 per share for the financial year ended March. The drugmaker’s bottomline performance was affected by a sharp jump of 50 per cent on-year in tax expenses to Rs. 128.2 crore during the quarter
  • The country’s largest two-wheeled maker Hero MotoCorp Friday said it is gearing up towards a gradual resumption of operations by starting single shift production at three of its plants – Gurugram and Dharuhera in Haryana and at Haridwar in Uttarakhand – from Monday, May 17. In addition to producing for the domestic market in India, these plants will also have enhanced focus on catering to the Global Business (GB) markets across the world.

 Global News

  • S. retail sales stalled in April following a sharp advance in the prior month when pandemic-relief checks provided millions of Americans with increased spending power. The value of overall retail purchases were essentially unchanged last month following an upwardly revised 10.7% gain in March that was the second-largest in records back to 1992, Commerce Department figures showed Friday. The median estimate in a Bloomberg survey of economists called for a 1% April gain
  • Germany’s contagion rate fell further below a key threshold on Saturday, making it more likely that pandemic restrictions will ease in coming days as a third wave of the coronavirus recedes. Vietnam reported its first death from Covid-19 since September as domestic cases climb. Taiwan raised the alert level in Taipei to battle a surge in local infections, imposing restrictions on gatherings and ordered entertainment businesses to shutter operations.
(Source:Bloomberg Quint, Economic Times, BusinessToday, Business Standard, Financial Express,Investing, Moneycontrol, livemint)

Open Your Demat Account to Invest in Upcoming IPO’sDemat-and-Trading-Account-Promotion-Banner

Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
OFSS 17-May-21 Interim Dividend – Rs. – 200.00 GCCLINP 19-May-21 E.G.M.
CAPPL 18-May-21 Interim Dividend – Rs. – 1.50 IRBINVIT 19-May-21 Income Distribution (InvIT)
COFORGE 18-May-21 Interim Dividend – Rs. – 13.00 POWERINDIA 19-May-21 Dividend – Rs. – 2.00
MEGH 18-May-21 Amalgamation GREENCREST 20-May-21 Consolidation of Shares
MEGH 18-May-21 Spin Off IRCON 20-May-21 Bonus issue 1:1
SUNDRMFAST 18-May-21 Interim Dividend – Rs. – 3.40 JOSTS 20-May-21 Stock Split from Rs.10/- to Rs.5/-
VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00 MINDSPACE 20-May-21 Income Distribution RITES
Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
3IINFOTECH Audited Results 17-May-21 JKTYRE Audited Results;Dividend 19-May-21
BHARTIARTL Audited Results 17-May-21 PRSMJOHNSN Audited Results 19-May-21
BUTTERFLY Audited Results 17-May-21 TANLA Audited Results;ESOP;Final Dividend 19-May-21
COLPAL Audited Results 17-May-21 TCIEXP Audited Results;Final Dividend 19-May-21
FEDERALBNK Audited Results;Final Dividend 17-May-21 TDPOWERSYS Audited Results;Final Dividend 19-May-21
GLAND Audited Results 17-May-21 ZUARI Audited Results 19-May-21
GNFC Audited Results;Dividend 17-May-21 BOSCHLTD Audited Results;Dividend 20-May-21
GOKULAGRO Audited Results 17-May-21 COSMOFILMS Audited Results 20-May-21
GRSE Final Dividend;Quarterly Results 17-May-21 EMKAY Audited Results;Final Dividend 20-May-21
MRPL Audited Results 17-May-21 HAVELLS Audited Results;Final Dividend 20-May-21
ORIENTCEM Audited Results;Final Dividend 17-May-21 HINDPETRO* Audited Results;Final Dividend 20-May-21
PPL Audited Results;Final Dividend 17-May-21 IL&FSENGG General 20-May-21
RBL Audited Results;Dividend 17-May-21 JKLAKSHMI Audited Results;Dividend 20-May-21
SHAKTIPUMP Dividend;Quarterly Results 17-May-21 KNRCON Audited Results;Final Dividend 20-May-21
SUBEX Audited Results;Final Dividend 17-May-21 LIBORD Audited Results 20-May-21
WABCOINDIA Audited Results;Final Dividend 17-May-21 MANGALAM Audited Results 20-May-21
AARTIIND Results;Bonus issue;Final Dividend 18-May-21 NDTV Audited Results 20-May-21
ABBOTINDIA Audited Results;Final Dividend 18-May-21 RADIOCITY Audited Results 20-May-21
ASTRAL Audited Results;Final Dividend 18-May-21 RELAXO Audited Results;Final Dividend 20-May-21
BIOGEN Audited Results 18-May-21 TORNTPOWER Audited Results;Final Dividend 20-May-21
BRIGADE Audited Results;Final Dividend 18-May-21 USHAMART Audited Results 20-May-21
CANBK Audited Results 18-May-21 ZEEL Audited Results;Final Dividend 20-May-21
CHALET Audited Results;General 18-May-21 AARTISURF Audited Results;Final Dividend 21-May-21
COROENGG Audited Results 18-May-21 AFEL A.G.M.;Issue Of Warrants;Results 21-May-21
DIAMINESQ Results;Dividend;Final Dividend 18-May-21 ALLSEC Audited Results 21-May-21
DOLAT Audited Results 18-May-21 ANUHPHR Audited Results;Final Dividend 21-May-21
GLAXO Audited Results;Dividend 18-May-21 BSOFT Final Dividend;Quarterly Results 21-May-21
GUJALKALI Audited Results;Dividend 18-May-21 CONCOR Audited Results;Final Dividend 21-May-21
GULPOLY Audited Results 18-May-21 CROMPTON Audited Results;Final Dividend 21-May-21
IIFLWAM Audited Results;Quarterly Results 18-May-21 DCW Audited Results 21-May-21
JBMA Audited Results;Final Dividend 18-May-21 DHANUKA Audited Results;Quarterly Results 21-May-21
JYOTHYLAB A.G.M.;Audited Results;Dividend 18-May-21 DHARAMSI Dividend;Quarterly Results 21-May-21
KICL Audited Results 18-May-21 ESABINDIA Audited Results;Dividend 21-May-21
KSL Audited Results;Dividend 18-May-21 GLFL Audited Results 21-May-21
MINDACORP Audited Results;Final Dividend 18-May-21 GODREJIND Audited Results 21-May-21
PIIND Audited Results;Final Dividend 18-May-21 GRPLTD Audited Results 21-May-21
ROUTE Audited Results;Final Dividend 18-May-21 HINDALCO Audited Results;Final Dividend 21-May-21
TATAMOTORS Audited Results;General 18-May-21 ICSL Audited Results;General 21-May-21
TATAMTRDVR Audited Results;General 18-May-21 JSWSTEEL Right Issue;Final Dividend 21-May-21
TORNTPHARM Audited Results;Final Dividend 18-May-21 KOCL Audited Results 21-May-21
UJJIVANSFB Audited Results 18-May-21 LALPATHLAB Audited Results;Final Dividend 21-May-21
ENDURANCE Audited Results;Final Dividend 19-May-21 SBIN Audited Results;Dividend 21-May-21
GRAVITA Audited Results 19-May-21 SHREECEM Audited Results;Final Dividend 21-May-21
HERITGFOOD Audited Results;AGM: Dividend 19-May-21 SOUTHBANK Audited Results;Dividend 21-May-21
IBULHSGFIN Audited Results;Interim Dividend 19-May-21 TCIIND Audited Results 21-May-21
INDORAMA Audited Results 19-May-21 AMARAJABAT Audited Results;Final Dividend 22-May-21
IOC Audited Results;Final Dividend 19-May-21 AMBER Audited Results;Quarterly Results 22-May-21
IRFC General 19-May-21 MANGLMCEM Audited Results;Dividend 22-May-21
Source: BSE, Elite wealth Research

Major Economy Indicators

india-nikkei-Weekly-view

india-industrial-weekly   india-exports-weekly-view

Disclosure in pursuance of Section 19 of SEBI (RA) Regulation 2014

Elite Wealth Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only information in making their investment decision and must exercise their own judgment before making any investment decision.
For analyst certification and other important disclosures, see the Disclosure Appendix, or go to www.elitewealth.in. Analysts employed by Elite Wealth Limited are registered/qualified as research analysts with SEBI in India.( SEBI Registration No.: INH100002300)
Disclosure Appendix
Analyst Certification (For Reports)
Israil Khan, Elite Wealth Limited, suhail@elitewealth.in
The analyst(s) certify that all of the views expressed in this report accurately reflect my/our personal views about the subject company or companies and its or their securities. I/We also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. Unless otherwise stated, the individuals listed on the cover page of this report are analysts in Elite Wealth Limited.
As to each individual report referenced herein, the primary research analyst(s) named within the report individually certify, with respect to each security or issuer that the analyst covered in the report, that:
(1) all of the views expressed in the report accurately reflect his or her personal views about any and all of the subject securities or issuers; and
(2) no part of any of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in the report.
For individual analyst certifications, please refer to the disclosure section at the end of the attached individual notes.
Research Excerpts
This note may include excerpts from previously published research. For access to the full reports, including analyst certification and important disclosures, investment thesis, valuation methodology, and risks to rating and price targets, please visit www.elitewealth.in.
Company-Specific Disclosures
Important disclosures, including price charts, are available and all Elite Wealth Limited covered companies by visiting https://www.elitewealth.in, or emailing research@elitestock.com with your request. Elite Wealth Limited may screen companies based on Strategy, Technical, and Quantitative Research. For important disclosures for these companies, please e-mail research@elitestock.com.
Options related research:
If the information contained herein regards options related research, such information is available only to persons who have received the proper option risk disclosure documents. For a copy of the risk disclosure documents, please contact your Broker’s Representative or visit the OCC’s website at https://www.elitewealth.in
Other Disclosures
All research reports made available to clients are simultaneously available on our client websites. Not all research content is redistributed, e-mailed or made available to third-party aggregators. For all research reports available on a particular stock, please contact your respective broker’s sales person.
Ownership and material conflicts of interest Disclosure
Elite Wealth Limited policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst’s area of coverage. Analyst compensation: Analysts are salary based permanent employees of Elite Wealth Limited. Analyst as officer or director: Elite Wealth Limited policy prohibits its analysts, persons reporting to analysts from serving as an officer, director, advisory board member or employee of any company in the analyst’s area of coverage.
Country Specific Disclosures
India – For private circulation only, not for sale.
Legal Entities Disclosures
Mr. RavinderParkash Seth is the Managing Director of Elite Wealth Ltd (EWL, henceforth), having its registered office at Casa Picasso, Golf Course Extension, Near Rajesh Pilot Chowk, Radha Swami, Sector-61, Gurgaon-122001 Haryana, is a SEBI registered Research Analyst and is regulated by Securities and Exchange Board of India. Telephone:011-43035555, Facsimile: 011-22795783 and Website: www.elitewealth.in
EWL Advisory discloses all material information about itself including its business activity, disciplinary history, the terms and conditions on which it offers research report, details of associates and such other information as is necessary to take an investment decision, including the following:
1. Reports
a) EWL Advisory or his associate or his relative has no financial interest in the subject company and the nature of such financial interest;
(b) EWL Advisory or its associates or relatives, have no actual/beneficial ownership of one %. or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance;
(c) EWL Advisory or its associate or his relative, has no other material conflict of interest at the time of publication of the research report or at the time of publicappearance;
2. Compensation
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) EWL Advisory or its associates have not managed or co-managed public offering of securities for the subject company in the past twelve months;
(c) EWL Advisory or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject companyin the past twelve months;
(d) EWL Advisory or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerageservices from the subject company in the past twelve months;
(e) EWL Advisory or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
3 In respect of Public Appearances
(a) EWL Advisory or its associates have not received any compensation from the subject company in the past twelve months;
(b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report and the types of services provided by EWL Advisory