All You Need To Know Going Into Trade On May 11
Asian stocks and U.S. equity futures slid Tuesday after a technology-led tumble on Wall Street as surging commodity prices stoked concern about inflation.
A gauge of Asian equities fell the most this month, with shares declining in Japan, Australia and South Korea. Nasdaq 100 contracts retreated after the index tumbled 2.6% amid the growing anxiety over inflation. S&P 500 futures dropped after the gauge fell from an all-time high.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, slipped 1.2% to 14,808.50 as of 7:05 a.m.
West Texas Intermediate crude fell as commodities trimmed their recent surge. The spotlight remains on commodities and the market implications of recent jumps in materials like copper and iron ore.
The benchmark 10-year Treasury yield slipped back after earlier rising to 1.60%.
Here are some key events to watch:
- A range of Fed speakers are due this week, including Governor Lael Brainard on Tuesday, among others
- Chinese inflation data are due Tuesday
- OPEC’s monthly oil market report is published with global demand forecasts and production estimates Tuesday
Stocks To Watch
- Punjab National Bank: Authorised the opening of QIP of shares of the face value of Rs 2 each on May 10. The floor price fixed at Rs 35.51 per share. Capital raising committee to meet on May 14 to determine the issue price, including any discount, for the equity shares to be allotted to eligible Qualified Institutional Buyers. PNB had last raised Rs 3,788 crore through QIP in December 2020.
- InterGlobe Aviation: Board approved raising up to Rs 3,000 crore via qualified institutions placement.
- HUL: Has appointed Srinandan Sundaram, currently Executive Director, Customer Development as Executive Director, Foods and Refreshment with effect from July 1. Sundaram will replace Sudhir Sitapati who is leaving the organisation to pursue an external opportunity.
- Indian Overseas Bank: Board to meet on May 17 to consider issuing shares to the government on a preferential basis for the capital infusion of Rs 4,100 crore received on March 31.
- Bajaj Finance: Has allotted 20,000 secured NCDs of the face value of Rs 10 lakh each on a private placement basis.
- Oberoi Realty: Board to meet on May 14 to consider raising funds through NCDs and equity shares.
- Nxtdigital: Board to meet on May 13 to consider the proposal of fundraising by offer and issuance of fully paid-up equity shares by way of a rights issue to the eligible shareholders.
- Federal-Mogul Goetze (India): Has shut down its plant at Bangalore till May 15 due to the current pandemic situation in Karnataka.
- No Nifty Earnings
- Non-Nifty Earnings: Aarti Industries, Alembic, Andhra Paper, BASF India, Bliss GVS Pharma, Dishman Carbogen Amcis, Firstsource Solutions, Granules India, Godrej Consumer Products, Huhtamaki India, Kalpataru Power Transmission, KEC International, Linde India, Matrimony.com, Neuland Laboratories, Siemens, Wardwizard Innovations & Mobility
Earnings Post Market Hours
HFCL Q4FY21 (Consolidated, QoQ)
- Revenue up 9% at Rs 1,391.40 crore Vs Rs 1,277.48 crore
- Net profit 3% at Rs 84.67 crore Vs Rs 82.24 crore
- Ebitda up 10% at Rs 181.30 crore Vs Rs 164.18 crore
- Ebitda margins at 13% Vs 12.9%
Pledge Share Details
- Emami: Promoter Sneha Gardens created a pledge of 50,000 shares on May 5.
- Future Retail: Promoter Future Corporate Resources invoked pledge of 38 lakh shares on April 29. Promoters (Kishore Biyani, Akar Estate & Finance, Vijay Biyani, Anil Biyani, Gopikishan Biyani, Sunil Biyani, Rakesh Biyani, Ashni Biyani and Laxminarayan Biyani) created a pledge of 86,994 shares between April 26 and May 4.
As reported on May 10.
- Solara Active Pharma Sciences: Pronomz Ventures LLP sold 10.69 lakh shares (2.98%) at Rs 1,552.05 per share. TPG Growth IV SF PTE sold 13.36 lakh shares (3.72%) at Rs 1,557.26 per share. Classic Opportunities Fund ULIF bought 2.57 lakh shares (0.72%) at Rs 1,552.05 per share. Aditya Birla Sun Life Flexi Cap Fund bought 3.90 lakh shares (1.09%) at Rs 1,552.05 per share. Aditya Birla Sun Life Mutual Fund bought 1.94 lakh shares (0.54%) at Rs 1,552.05 per share.
- Coforge: Axis Mutual Fund bought 6.17 lakh shares (1.02%) at Rs 3,240 per share. Hulst BV sold 19 lakh shares (3.14%) at Rs 3,242.26 per share.
- Reliance Infrastructure: IndusInd Bank sold 33.32 lakh shares (1.27%) at Rs 49.16 per share.
- Insecticides (India): The company bought 2.64 lakh shares (1.28%) at Rs 544.74 per share.
Who's Meeting Whom
- Supreme Industries: To meet ASK Investment Managers on May 11 and Kotak MF on May 12.
- The Great Eastern Shipping Co: To meet Abu Dhabi Investment Authority on May 11.
- Mahindra Holidays & Resorts India: To meet Enam Holdings on May 11 and Sundaram MF on May 12.
- Ex-Date Special Dividend: Procter & Gamble Hygiene and Health Care
- Ex-Date Interim Dividend: Quess Corp, Laurus Labs
- Ex-Date Stock Split: Alkyl Amines Chemicals, Mayukh Dealtrade
- Price Band Revised From 20% To 10%: Dhampur Sugar Mills, Dwarikesh Sugar Industries
- Move Into Short-Term ASM Framework: Apcotex Industries, Mastek
- Move Out Of Short-Term ASM Framework: Centrum Capital, JSW Ispat Special Products
- Move Into ASM Framework: JSW Ispat Special Products, Sanghi Industries, CG Power and Industrial Solutions
Money Market Update
- The rupee ended at 73.35 against the U.S. Dollar on Monday as compared to Friday's closing of 73.51.
- Nifty May futures ended at 14,992; premium of 49.65 points.
- Nifty May futures shed 0.75% and 1,126 shares in Open Interest
- Nifty Bank May futures ended at 33,343.35; premium of 200.95 points
- Nifty Bank May futures added 5.16% and 2,949 shares in Open Interest
- Securities that continue to be on the ban list: Nalco and Sun TV
- Securities added to the ban list: PNB
- Securties out of the ban list: BHEL and Tata Chemicals