Ex Dates tomorrow

Wall St Overnight
- Dow +0.21%
- S&P +0.63%
- Nasdaq +1.52%

US Big Tech - More Earnings !
Microsoft: Stock +9%
Amazon (-2% in after-hours)
Apple -4% post results

Weak US Macros
- US GDP -0.3%, First contraction since 2022
- Weekly Jobless claims at 2.41 lk, far higher than expected

All Eyes On
- Possibility of US-China trade Talks
- Dollar Index Back above 100
- Brent lower at $62

Stocks To Track
- Auto Stocks in Focus- May Monthly Sales Data
- Eternal – Weak Food Delivery Growth, High QComm Losses
- Indus Tower Revenue growth +2.4% QoQ, Lower Margins
- PNB HFC – Carlyle’s to sell 10.4% equity via block deals

ACTION FOR DAY
India-Manufacturing PMI
Q4FY25 Earnings- Marico, City Union Bank, IOB, Jindal Saw, Godrej Properties
IOB, Tata Motors, Godrej Properties to mull fundraising.
M&M Fin to mull fundraising via rights issue.

INDIA
GST at all time high-April collections up 12% YoY at Rs 12.37lk
Akshay Tritiya Sale down 30% YoY-Gold related companies –ve impact
Above normal temperatures expected in May-Signals strong for consumption and power stocks
11th straight day of buying of FII over last 2 years

Q4 EARNINGS
GOOD-Adani Ports, Adani Enterprises, MOIL, MAS Financial
INLINE/MIXED-Indus Tower, JSW Infra, Godrej Agrovet, Adani Power, JSPL, Federal Bank
WEAK-Eternal (Zomato), Bandhan Bank, Phoenix Mills

IT STOCKS (+VE)
COGNIZANT Q1 FY25-Better-than-expected quarter nos+ Microsoft
Better than expected quarter numbers

Sugar Stocks
GoI notches up sugar sector reforms with *Sugar (Control) Order, 2025* – a sweeping overhaul replacing the 1966 order.

Gold hits two-week low amid easing trade tensions & holiday in top consumer China

Bhartiartl
Equity conversion in telcos only as per Cabinet-approved relief package of 2021, under the relief package of 2021, only dues of spectrum acquired before 2021 will be considered

Citi on Industower
Maintain Buy; TGT 485 from 470

Jefferies on SonaBLW
Maintain Buy; TGT 585 from 470

Nomura on Eternal ( Zomato )
Maintain Buy; TGT 280 from 290

Jefferies on Eternal
Maintain Buy; TGT 250 from 255

MS on Federalbk
Maintain Underweight; TGT 160

Nomura on Federalbk
Maintain Buy; TGT 220