All You Need To Know Going Into Trade On May 4
Asian stocks were mixed and U.S. equity futures retreated Tuesday in the wake of a dip in technology giants on Wall Street.
South Korean shares slid while Australia rose modestly. Trading will be limited with Japan and China among markets closed for holidays.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was little changed at 14,676 as of 7 a.m.
Commodities held an advance after silver led gains in precious metals as the prospect of near-zero rates for longer boosted demand. Oil was steady after climbing over 1%. Data Monday showed growth among U.S. manufacturers cooled in April, while a gauge of prices paid for materials jumped to the highest since 2008.
Stocks To Watch
- ICICI Bank: RBI has imposed a Rs 3 crore penalty on the bank for contravention of prudential norms for classification, valuation and operation of the investment portfolio of banks. RBI found contravention of norms in an instance where the bank shifted securities from one category to another.
- JSW Steel: The company's unit JSW Renew Energy has signed a power purchase agreement with Solar Energy Corporation of India for 540 MW of blended wind capacity out of a total awarded capacity of 810 MW. JSW Future Energy had in September 2020 received contracts for 810 MW wind capacity after a competitive bidding process from SECI for setting up 2500 MW ISTS-connected Blended Wind Power Projects.
- Motherson Sumi Systems: Motherson Rolling Stocks, a subsidiary of the company, has completed the acquisition of assets and activities of Electrical Wiring Interconnection Systems performed at Bombardier Transportation’s manufacturing site in Huehuetoca, Mexico.
- Nava Bharat Ventures: Has entered into a binding agreement for the sale of plant and equipment, excluding land, pertaining to the sugar division of the company situated at Samalkot in Andhra Pradesh.
- Zuari Agro: Says shutdown ammonia and urea plants for annual maintenance effective May 3
- Bafna Pharmaceuticals: Says UK MHRA approves newly added packaging lines
- Nifty Earnings: Adani Ports & Special Economic
- Non-Nifty Earnings: Adani Total Gas Ltd., Alembic Pharmaceuticals Ltd., DCM Shriram Ltd., Greaves Cotton Ltd., IIFL Securities, Larsen & Toubro Infotech Ltd., Procter & Gamble Hygiene, RBL Bank Ltd. and Suven Life Sciences Ltd.
- India PowerGrid InvIT IPO gets 4.83 times demand for units for offer
- IndusInd Bank raised to Buy at Antique Stock Broking
- Marico raised to Outperform at Credit Suisse; price target Rs 490
Pledge Share Details
- Elecon Engineering: Promoter Emtici Engineering created a pledge of 75 lakh shares on April 30.
- Emami: Promoter Sneha Gardens revoked the pledge of 10.39 lakh shares between April 29-30. Promoter Sneha Enclave created a pledge of 9.30 lakh shares on April 28.
As reported on May 3.
Earnings Post Market Hours
Tata Chemicals Q4FY21 (Consolidated, YoY)
- Revenue up 11% at Rs 2,636.2 crore Vs Rs 2,378.09 crore
- Net profit at Rs 29.26 crore Vs Rs 6,434.28 crore
- Ebitda down 29% at Rs 282.71 crore Vs Rs 400.16 crore
- Ebitda Margins at 10.7% Vs 16.8%
- Has recommended a dividend of Rs 10 per share for FY21
L&T Technology Services Q4FY21 (Consolidated, YoY)
- Revenue at Rs 1,440.5 crore Vs Rs 1,446.6 crore
- Net profit down 5% at Rs 194.5 crore Vs Rs 204.8 crore
- Ebit up 9% at Rs 239.10 crore Vs Rs 219.8 crore
- Ebit Margins at 16.6% Vs 15.2%
- Dollar revenue up 1.1% at $197.5 million Vs $195.4 million
- Has recommended a final dividend of Rs 14.5 per share
- Tata Metaliks: First State Superannuation Scheme bought 1.91 lakh shares (0.60%) at Rs 1,179.42 per share. EAM Emerging Markets Small Cap Fund bought 1.67 lakh shares (0.53%) at Rs 1,179.42 per share. HDFC Mutual Fund sold 1.80 lakh shares (0.57%) at Rs 1,254.57 per share.
- Maithan Alloys: Promoter Bhagwati Syndicate bought 1.33 lakh shares (0.46%) at Rs 838 per share. Promoter Subhas Agarwalla sold 1.33 lakh shares (0.46%) at Rs 838 per share.
- Ex-Date Interim Dividend: Gateway Distriparks
- Price Band Revised From 10% To 5%: Shree Renuka Sugars
- Price Band Revised From 20% To 10%: Ashapura Minechem, Avadh Sugar and Energy, Reliance Infrastructure, Uttam Sugar Mills
- Move Into Short-Term ASM Framework: The Investment Trust Of India, Filatex India, Reliance Infrastructure, Uttam Sugar Mills
- Move Out Of Short-Term ASM Framework: Nectar Lifesciences
- Move Into ASM Framework: Balrampur Chini Mills
Money Market Update
- The rupee ended at 73.91 against the U.S. dollar on Monday as compared to Friday's closing of 74.06.
- Nifty May futures ended at 14,700; premium of 65.85 points.
- Nifty May futures added 4.73% and 6,320 shares in Open Interest
- Nifty Bank May futures ended at 32,736.20; premium of 270.45 points
- Nifty Bank May futures added 16.11% and 8,271 shares in Open Interest
- Securities in the ban list: Sun TV