Indian Market Outlook:
The Key benchmark indices rose nearly 2 percent over the week, touched their all-time high led by the positive global cues, continuing declining fresh COVID-19 cases in India with gradual reopening of the domestic economy and reports of government stimulus. Nifty ended the week with 1.72 percent higher at 15443 points while the Sensex ended with 1.75 higher at 51422 points. Broader market performed mixed the during the week. BSE Midcap index ended 0.82 percent higher, while the BSE Small cap index rose 1.51 percent. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.2039 crores while the DIIs were the net sellers of Rs.322 crores. On Friday Trading day Reliance Industries Ltd share zoomed over 6% after global brokerage Jefferies said it saw a 50 per cent upside in the EBITDA for petrochemical business if the prevailing momentum sustains. The Goods and Services Tax Council met on 28th May, 2021 for its first meeting in nearly seven months and decided on a slew of matters like Import of Covid-related relief items exempt from IGST till Aug. 31 also Minister Nirmala Sitharaman that the Centre was in talks with states to assess impact of lockdown-like measures on various sectors and a final call on the next stimulus package had not been taken. Going Forward overall structure of the market remains positive as fresh covid cases continue to decline and expectation of unlocking of economy in June which will help revive commercial activities. On Macro Front RBI Interest Rate decision, GDP Growth rate for Q4 and Manufacturing and Services PMI data are due next week.
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Latest Spot Price (in US $)
|Precious Metal||Current Price||Change (%)||3 Month||6 Month||1 Year|
Global Weekly Events
|May 31,2021||INR||Infrastructure Output (YoY) (Apr)||–||6.8%|
|May 31,2021||INR||GDP Quarterly (YoY) (Q4)||1.0%||0.4%|
|Jun 01,2021||INR||Nikkei Markit Manufacturing PMI||52.0||55.5|
|Jun 01,2021||USD||ISM Manufacturing PMI (May)||60.7||60.7|
|Jun 03,2021||USD||Initial Jobless Claims||–||406k|
|Jun 04,2021||INR||RBI Interest Rate Decision||4.00%|
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Domestic Economy Indicators
|RBI Policy Rate||Policy Repo Rate||4.00%||4.00%|
|Reverse Repo Rate||3.35%||3.25%|
|Inflation Rate||Wholesale Price Index||10.49%||7.39%|
|Consumer Price Index||4.29%||5.52%|
|Trade Data||Export ($ Million)||30630||34450|
|Import ($ Million)||45720||48380|
|Domestic Indices||Closing (28th May)||Change||%Change|
|Global Indices||Closing (28th May)||Change||%Change|
|Net Inflow (Cr)||FII||DII|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Top Losers||Closing Price||Prev Close||Chg (%)|
Source: Investing, NDTV, BSE, Reuters, Moneycontrol
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The Goods and Services Tax Council met on 28th May, 2021 for its first meeting in nearly seven months and decided on a slew of matters which are Import of Covid-related relief items exempt from IGST till Aug. 31. AmphotericinB, used for treating Mucormycosis, will also be exempt from IGST. Group of ministers to review exemption requests on further Covid-related items like vaccines and ventilators. GoM to be constituted tomorrow. Annual return filings will continue to be optional for small taxpayers for FY21. Rate decisions on items ranging from MRO units of ships to shipping to annuity payments received as deferred payment for construction of road. Separate meeting to be held to discuss states’ demands regarding extension of compensation period beyond FY22.
The stock market doesn’t seem to care. Does this suggest that there is a bubble in the market? Partly, said the Reserve Bank of India. A study published in the RBI’s annual report created a model using stock prices, money supply, Organisation for Economic Co-operation and Development composite lead indicator and foreign portfolio investments in the secondary equity market for the period April 2005 to December 2020. The results suggested that the stock price index is mainly driven by money supply and foreign portfolio investments. Economic prospects also contribute to movement in the stock market, but the impact is relatively less compared to money supply and FPI.
Toll collection on national highways is likely to fall by 25 to 30 per cent in May over last month as a fall out of the lockdown and restrictions imposed by several states to contain the spread of coronavirus, according to rating agency ICRA. In April too, toll collection fell by 10 per cent over March. However, with fall in number of Covid cases from third week this month, states are expected to relax lockdown restrictions in a gradual manner, said Rajeshwar Burla, Co-Group Head and Vice President for Corporate Ratings at ICRA.
The Ebitda margin — an indicator of profitability — for Indian infrastructure companies rated by Moody’s have come down from 2019 levels in 2020, and they will remain flat till 2022, the rating agency said. In a report titled Asia-Pacific (APAC) Project and Infrastructure Finance Chartbook 2021, Moody’s said that India has the most negative outlooks, accounting for 67% of the firms rated with a negative outlook in APAC. The study comprised 224 companies across 14 countries in APAC region, including 30 from India.
Rising polymer spreads amid demand from automobiles, durables, consumer goods, medical supplies, and packaging industries will provide significant upside to Reliance Industries Ltd.’s petrochemicals operating income in the ongoing fiscal, according to Jefferies. The portfolio spread for polymers, accounting for 45% of RILs petrochemicals business is nearing a decade high and is 30% ahead of Jefferies estimates for FY22, the brokerage said in a May 28 report. The polymer spreads—difference between the price of a barrel of polymers and benchmark crude—have hit record highs due to strong consumer spending in the U.S. and China, it said. High spreads are likely to sustain in FY22, aided by sustained demand on fiscal support in major economies, commissioning delays in new project, and vaccine penetration.
Deepak Fertilisers and Petrochemicals Corporation on Friday reported a 415% year-on-year jump in net proft to Rs 116 crore for the March 2021 quarter. Consolidated revenues grew by 21.8% y-o-y to Rs 1,575 crore in the quarter. Revenues from the chemical business increased by 15% to Rs 870 crore with margins going up to 27% in the quarter. Global specialty chemical value chains were moving from China to India, boosting nitric acid demand and prices in India, the company said.
The Reserve Bank of India on Friday fined HDFC Bank Rs 10 crore for irregularities found in its auto loan book. The regulator found the bank deficient in compliance. The regulator said that after receiving a complaint from a whistle blower it had conducted a examination in the marketing and sale of third-party non-financial products to the bank’s auto loan customers
President Joe Biden issued his first full budget proposal Friday, detailing his ambitions to dramatically expand the size and scope of the federal government with more than $6 trillion in spending over the coming fiscal year.
New infections in India fell to their lowest level in more than six weeks. Outbreaks in Taiwan and Thailand showed little sign of slowing. Infections in Malaysia hit a record for the fifth straight day. The head of the International Paralympic Committee said he’s satisfied with precautions to protect athletes at the Tokyo Games, as Japan extended a state of emergency covering the city and beyond in a bid to rein in infections.
(Source: Bloomberg Quint, Economic Times, BusinessToday, Business Standard, Financial Express,Investing, Moneycontrol, livemint)
Forthcoming Corporate Actions
|Security Name||Ex-Date||Purpose||Security Name||Ex-Date||Purpose|
|HDFC||31-May-21||Dividend – Rs. – 23.00||CYIENT||03-Jun-21||Final Dividend – Rs. – 17.00|
|INFY||31-May-21||Final Dividend – Rs. – 15.00||RAWEDGE||03-Jun-21||Bonus issue 1:5|
|INDIGRID||01-Jun-21||Income Distribution (InvIT)||SBIN||03-Jun-21||Dividend – Rs. – 4.00|
|KANPRPLA||02-Jun-21||Special Dividend – Rs. – 1.00||CUB||04-Jun-21||Interim Dividend – Rs. – 0.30|
|TOWERINFRA||02-Jun-21||Income Distribution (InvIT)||MANAPPURAM||04-Jun-21||Interim Dividend – Rs. – 0.7500|
Source: BSE, Elite wealth Research
Upcoming Board Meetings
|Symbol||Purpose||BM Date||Symbol||Purpose||BM Date|
|ABHICAP||Audited Results;General||31-May-21||RATNAMANI||Audited Results;Final Dividend||02-Jun-21|
|APARINDS||Dividend;Quarterly Results||31-May-21||RIDHISYN||Audited Results||02-Jun-21|
|ASIANTILES||Audited Results;Final Dividend||31-May-21||RLFL||Audited Results||02-Jun-21|
|ASTRON||Audited Results;General||31-May-21||SPRAYKING||Audited Results||02-Jun-21|
|AUROPHARMA||Audited Results||31-May-21||SPS||Bonus issue;General||02-Jun-21|
|DEVHARI||Audited Results||31-May-21||APLAPOLLO||Audited Results||03-Jun-21|
|DUGARHOU||Reduction of Capital||31-May-21||ARVINDFASN||Audited Results||03-Jun-21|
|GALLOPENT||Dividend;Quarterly Results||31-May-21||CUPID||Final Dividend;Quarterly Results||03-Jun-21|
|GANESHHOUC||Audited Results||31-May-21||DATASOFT||Audited Results||03-Jun-21|
|HONAUT||Audited Results;Final Dividend||31-May-21||GICRE||Audited Results;Final Dividend||03-Jun-21|
|HYPERSOFT||Audited Results||31-May-21||GSPL||Audited Results||03-Jun-21|
|JAMNAAUTO||Audited Results;Final Dividend||31-May-21||HKG||Half Yearly Results;General||03-Jun-21|
|JINDALPHOT||Audited Results||31-May-21||KOVAI||Audited Results||03-Jun-21|
|KAPILRAJ||In. Auth. Capital;Issue Of Warrants||31-May-21||MANGIND||General||03-Jun-21|
|KARDA||Final Dividend; Results;Stock Split||31-May-21||NILKAMAL||Audited Results;Final Dividend||03-Jun-21|
|KBSINDIA||Audited Results;Quarterly Results||31-May-21||NUCLEUS||Audited Results;Final Dividend||03-Jun-21|
|KHYATI||Audited Results||31-May-21||PARLEIND||Audited Results;Dividend;General||03-Jun-21|
|KKALPANAIND||A.G.M.;Final Dividend;Results||31-May-21||PRESSMN||Audited Results;Final Dividend||03-Jun-21|
|KOLTEPATIL||Audited Results;General||31-May-21||QUESS||Audited Results||03-Jun-21|
|LASA||Audited Results||31-May-21||RESONANCE||Audited Results;Final Dividend||03-Jun-21|
|LLOYDSTEEL||General;Quarterly Results||31-May-21||RICHIRICH||Audited Results;Quarterly Results||03-Jun-21|
|MAANALU||Audited Results||31-May-21||SURATEX||Audited Results||03-Jun-21|
|MAFATLAFIN||Audited Results||31-May-21||TGVSL||Audited Results;General||03-Jun-21|
|MAGMA||Audited Results;Dividend||31-May-21||VANDANA||Audited Results||03-Jun-21|
|MANINDS||Audited Results;Final Dividend||31-May-21||ZHEMHOLD||Audited Results||03-Jun-21|
|MANOMAY||Audited Results||31-May-21||AMBALALSA||Audited Results;General||04-Jun-21|
|MARKSANS||Audited Results;Final Dividend||31-May-21||ASAHISONG||Audited Results;Final Dividend||04-Jun-21|
|MORGANITE||Audited Results;Final Dividend||31-May-21||ATHARVENT||Audited Results||04-Jun-21|
|NAHARCAP||Audited Results;Dividend||31-May-21||BAJGLOB||Audited Results;Quarterly Results||04-Jun-21|
|NAHARINDUS||Audited Results||31-May-21||BALGOPAL||Audited Results||04-Jun-21|
|NAHARPOLY||Audited Results;Dividend||31-May-21||BALKRISHNA||Audited Results||04-Jun-21|
|NAHARSPING||Audited Results;Dividend||31-May-21||BANKINDIA||Audited Results||04-Jun-21|
|NELCAST||Audited Results;Dividend||31-May-21||BHARATFORG||Audited Results;Final Dividend||04-Jun-21|
|PRAKASH||Audited Results||31-May-21||CHDCHEM||Audited Results||04-Jun-21|
|RIDDHI||Dividend;Quarterly Results||31-May-21||FOODSIN||Final Dividend;General;Results||04-Jun-21|
|RTL||Final Dividend;Quarterly Results||31-May-21||GCCLINP||Audited Results||04-Jun-21|
|RUPA||Audited Results;Dividend||31-May-21||GUFICBIO||Audited Results;Final Dividend||04-Jun-21|
|SHILPAMED||Audited Results;Quarterly Results||31-May-21||GUJCOTEX||General||04-Jun-21|
|SHRIDINE||Final Dividend;Quarterly Results||31-May-21||HOTELRUGBY||Audited Results||04-Jun-21|
|SIMPLXREA||Results;Consolidation of Shares||31-May-21||IOLCP||Audited Results||04-Jun-21|
|TRF||General;Quarterly Results||31-May-21||JAICORPLTD||Audited Results;Dividend||04-Jun-21|
|URJAGLOBA||Audited Results||31-May-21||JIGAR||Half Yearly Results||04-Jun-21|
|UTTAMSTL||Audited Results||31-May-21||JUBLPHARMA||Audited Results;Final Dividend||04-Jun-21|
|VASCONEQ||Audited Results;General||31-May-21||KELENRG||Audited Results;Final Dividend||04-Jun-21|
|VENUSREM||Preferential Issue of shares||31-May-21||KRANTI||General;Quarterly Results||04-Jun-21|
|WEBELSOLAR||Audited Results||31-May-21||MEGASTAR||Audited Results;Half Yearly Results||04-Jun-21|
|BALRAMCHIN||Audited Results||01-Jun-21||MOIL||Audited Results;Final Dividend||04-Jun-21|
|EMAMIPAP||Audited Results;Dividend||01-Jun-21||NBFOOT||Audited Results||04-Jun-21|
|FCL||Preferential Issue of shares||01-Jun-21||NIITLTD||Audited Results;Dividend||04-Jun-21|
|GUJGAS||Audited Results;Dividend||01-Jun-21||PAISALO||Final Dividend;Quarterly Results||04-Jun-21|
|ITC||Audited Results;Final Dividend||01-Jun-21||PENIND||Audited Results||04-Jun-21|
|NGLFINE||Final Dividend;Quarterly Results||01-Jun-21||SAMBHAAV||Audited Results||04-Jun-21|
|RADICO||Audited Results;Final Dividend||01-Jun-21||SHARIKA||Bonus issue;Increase in Auth. Capital||04-Jun-21|
|SWELECTES||Audited Results;Final Dividend||01-Jun-21||SHILCTECH||Dividend;Quarterly Results||04-Jun-21|
|TVVISION||Audited Results;Quarterly Results||01-Jun-21||SIMBHALS||Audited Results||04-Jun-21|
|VRWODAR||Audited Results;General||01-Jun-21||TOKYOPLAST||Audited Results||04-Jun-21|
|BIGBLOC||Audited Results;Final Dividend||02-Jun-21||UNIAUTO||Audited Results||04-Jun-21|
|BURNPUR||Audited Results||02-Jun-21||VALIANT||Audited Results||04-Jun-21|
|DVL||Audited Results;Final Dividend||02-Jun-21||WHITHAL||Audited Results||04-Jun-21|
|GARODCH||Audited Results||02-Jun-21||AAYUSH||Audited Results;Quarterly Results||05-Jun-21|
|JENBURPH||Audited Results;Dividend||02-Jun-21||AGRITECH||Audited Results||05-Jun-21|
|KONNDOR||Audited Results||02-Jun-21||ASPIRA||Audited Results||05-Jun-21|
|LYKALABS||Audited Results||02-Jun-21||BENTCOM||Audited Results;Quarterly Results||05-Jun-21|
|MOTHERSUMI||Audited Results;Final Dividend||02-Jun-21||BPLPHARMA||Audited Results||05-Jun-21|
|MTARTECH||A.G.M.;Audited Results;Dividend||02-Jun-21||NOVAPUB||Audited Results||05-Jun-21|
|MUTHOOTFIN||Audited Results;General||02-Jun-21||PERFEPA||Audited Results||05-Jun-21|
|NRBBEARING||Audited Results;Final Dividend||02-Jun-21||PGEL||Audited Results;General||05-Jun-21|
|OCTAWARE||Half Yearly Results;General||02-Jun-21||RAJOOENG||Audited Results;Quarterly Results||05-Jun-21|
|PANACEABIO||Audited Results||02-Jun-21||SHUBHAM||Audited Results||05-Jun-21|
|PRERINFRA||Audited Results||02-Jun-21||TECHIN||Audited Results||05-Jun-21|
|PVR||Audited Results||02-Jun-21||ZSPEEDCO||Audited Results;Quarterly Results||05-Jun-21|
Source: BSE, Elite wealth Research
Major Economy Indicators
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