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
Gold 1903.6 1.16 10.48 6.70 8.89
Silver 28.06 2.11 5.09 13.47 59.16
Platinum 1183.75 1.10 -1.03 13.40 37.10
USD/INR 72.41 -0.56 -1.34 -2.14 -4.28
Crude 66.66 4.84 9.93 47.02 97.75

Global Weekly Events

Date Region Event Description Forecast Previous
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

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 4.00% 3.50%
SLR 18.00% 18.00%
 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
  IIP 22.4% -3.4%

 

Domestic Indices Closing (28th May) Change %Change
BSE Sensex 51,422.88 882.40 1.75
Nifty 15,435.65 260.35 1.72
Mid Cap 21,661.83 176.08 0.82
Small Cap 23,478.69 348.29 1.51
Bank Nifty 35,141.45 534.55 1.54

 

Global Indices Closing (28th May) Change %Change
Dow Jones 34,529.45 321.61 0.94
Nasdaq 13,686.51 274.77 2.05
FTSE 7,022.61 4.56 0.06
Nikkei 29,149.41 831.58 2.94
Hang Seng 29,124.41 665.97 2.34
Shanghai Com 3,600.78 114.22 3.28

 

Net Inflow (Cr) FII DII
24-May-2021 585.36 -707.69
25-May-2021 959.77 -563.59
26-May-2021 241.6 -438.59
27-May-2021 -660.9 112.38
28-May-2021 913.59 1,275.22
Total 2039.42 -322.27
     

 

Top Gainers Closing Price Prev Close Chg (%)
Zee Ent. 211.75 190.70 17.42
Grasim Ind. 1465.45 1371.85 6.82
IOC        109.85 104.30 5.32
SBI 422.05 401.20 5.20
Wipro 538.70 512.70 5.07

 

Top Losers Closing Price Prev Close Chg (%)
NTPC        108.95 112.95 -3.46
Sun Pharma        669.75 690.40 -2.99
Vedanta 266.25 273.65 -2.70
Hind. Unilever 2321.70 2362.25 -1.72
Bharti Airtel 523.60 530.95 -1.38

Source: Investing, NDTV, BSE, Reuters, Moneycontrol

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Economic News:

  • 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.

 Industry News:

  • 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.

 Company News:

  • 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

Global News

  • 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)

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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
CHEMCON General;Quarterly Results 31-May-21 SUNSHINE General 02-Jun-21
CUPIDTR General 31-May-21 7NR Quarterly Results 03-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
JBFIND Quarterly Results 31-May-21 JINDCAP 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
KEDIACN General 31-May-21 OSWALEA Quarterly Results 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
PNBHOUSING General 31-May-21 BRAWN Audited Results 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
PREMSYN General 01-Jun-21 SAPL 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
VIRTUALG General 01-Jun-21 TOKYOFIN 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
JPOLYINVST Audited Results 02-Jun-21 ANDHRAPET General 05-Jun-21
KANSAFB A.G.M.;General 02-Jun-21 ASHIMASYN 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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