The National Stock Exchange (NSE) in Bandra Kurla Complex (BKC) in Mumbai, India. The Nifty 50 uses free float market capitalisation to decide weightage of its 50 stocks. (Photographer: Dhiraj Singh/Bloomberg)
5 years ago
May 17, 2021
Larsen, Cipla, SKF, Oberoi, Just Dial, Aarti Drugs, Aditya Birla Capital may react as the companies reported quarterly results after the market closed Friday. Bharti Airtel, Colgate, Federal Bank, Gland Pharma are among the companies scheduled to report earnings Monday.
Both the Sensex and the Nifty ended last week lower amid concerns that coronavirus cases may trigger a national lockdown. The world’s worst outbreak saw the daily infection tally moderate to around 300,000 for the last few days from a peak of 410,000 a week ago.
“Markets are rejoicing the early signs of virus peak and stability in the global markets. But we feel participants shouldn’t read much into a single-day rise and wait for a decisive break above 15,000 in Nifty,” Ajit Mishra, vice president-research at Religare Broking Ltd., said in an emailed statement. “Needless to say, the performance of the banking and financial pack holds importance. Meanwhile, participants should continue with a positive yet cautious approach and maintain their focus on risk management.”
Q4 exceptional gain Rs 440 crore vs Rs 6,860 crore expense
See no material impact from pandemic as of now; management will continue to closely monitor and evaluate the impact of any material changes in the macro-economic situation, other factors
India business quarterly revenues up 17.5% YoY
Q4 capex spend Rs 6,846 crore
India EBITDA Rs 8,970 crore; EBITDA margin 48.9%
Company continues to see strong traction in post-paid business; added ~630,000 post-paid customers Q4 and ~1.9 million over last four quarters
Net Debt-EBITDA ratio annualized and including the impact of leases as on March 31, 2021 is at 2.95 times vs 3.19 times as on March 31, 2020
Mobile India 4G customers at 179.3 million, up by 13.7 million QoQ
Sharp rise in new coronavirus infections will disrupt earnings recovery of companies recorded over the past six months; prolonged and wider lockdown will have a severe effect, Moody’s Investors Service write in a note.
Restrictions on movement, weaker consumer sentiment to temporarily hit housing, vehicle sales and demand for transportation fuel
Still, rising preference for remote working and personal mobility to drive long-term demand for bigger homes, entry-level cars
Demand for technology, telecom to remain strong despite the expectation of a slowdown in economic activity over the next few months
Steelmakers could see an export boost led by strong global demand; exports are attractive as local steel prices are lower than international, note said
Tata Steel Ltd., JSW Steel Ltd to have limited impact on production from diverting part of oxygen production toward medical use
Slowdown in the construction activity to cut cement demand; government’s high spending on infrastructure and a pickup in housing demand will support sector fundamentals and earnings for UltraTech Cement Ltd.
Weaker entities could face liquidity pressure; companies with weak balance sheets may face problems in refinancing
State Bank of India rose 6.8%. Trading in the company's call options was quadruple the average. Trading volume was double the average for this time of day.
Trading volume was 111.9 million shares, double the 20-day average of 49.5 million shares for this time of day.
Trading in the company's call options totalled 162,756 contracts, compared with the average of 44,909 over the past 20 days. Trading in the company's put options totalled 65,690 contracts, compared with the average of 27,080 over the same period.
Analysts have 47 buy, two hold, and no sell recommendations on the stock.
The price target of Rs 475.09 represents a 23% increase from the last price
Names Venkatraman Venkateswaran as CFO from May 18
Current CFO Ashutosh Khajuria to be responsible for treasury, credit and collections, strategic initiatives; he will also establish the ESG function of the bank
The Indian rupee advances to buck most of Asian FX amid foreign inflows related to company share sales. Sovereign bonds are marginally higher after the central bank last week scrapped a sale of the benchmark 10-year bond amid speculation traders demanded higher yields.
It’s mainly selling on dollar/rupee with RBI standing firm around 73.20 levels, says Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors
There are a lot of flows with premiums moving so high. A lot of IPOs have been announced
Declining Covid cases are also helping as also the approaching monsoon
Pune-based Krsnaa Diagnostics seeks to raise as much as Rs 400 crore ($54.6 million) via new shares in an initial public offering, according to a copy of its draft red herring prospectus on issue manager IIFL Securities’ website.
Holders of Krsnaa Diagnostics plan to sell as many as 9.42 million shares in an offer-for-sale as part of the IPO
Among the shareholders, PHI Capital Trust plans to sell up to 1.6 million shares, Kitara PIIN 1104 plans sale of up to3.34 million shares and Somerset Indus Healthcare Fund plans to sell up to 4.45 million shares
The company may consider a pre-IPO placement of as much as Rs 200 crore; new share sale in the IPO will be lower than planned if the pre-IPO sale happens
JM Financial, DAM Capital, Equirus Capital and IIFL securities will manage the IPO
Shares of the drugmaker jumped as much as 13.5%, to the highest since Oct., after it announced a tie-up with Dr Reddy's Laboratories for production of Sputnik V vaccine.
The production target of the vaccine for the first 12 months is 50 million doses
Under the agreement, the company’s unit Shilpa Biologicals will be responsible for the manufacture of the vaccine, while Dr. Reddy’s will be responsible for distribution and marketing
The vaccine will be made at the company’s centre in Dharwad, Karnataka
The companies are also exploring the option to make Sputnik Light, a single-dose version of the vaccine, in the near future
Both the Sensex and the Nifty ended last week lower amid concerns that coronavirus cases may trigger a national lockdown. The world’s worst outbreak saw the daily infection tally moderate to around 300,000 for the last few days from peak of 410,000 a week ago.
Indian sovereign bonds may extend Friday’s gains after the central bank scrapped a sale of the benchmark 10-year bond amid speculation traders demanded higher yields. The rupee may open lower in line with Asian peers.
Implied opening from forwards suggest spot may start trading around 73.28
RBI to conduct 1st Special Long-Term Repo Operation for Rs 10,000 crore
India to convert/switch Rs 20,000 crore of government securities via auctions to longer tenor: RBI
