*SGX Nifty +5 pts (15054) from last trade 15049*

Nikkei -121 pts
Hangseng -180 pts
Now @6.54am

Dow -164.62 pts ,Nsdq -3.90 pts, S&P -12.15 pts, Bovespa +343 pts , Ftse -84 pts , Dax -273 pts , Cac -91 pts , Crude @ $63.37 brl (-0.01), Brent @ $66.66 brl (+0.00) , Gold @ 1867.10 (-14.30), Silver @ $27.72 (-0.30), Euro @ $1.2171, JPY @ $109.26  INR @ 73.215

*Today's Corporate Action*
*20th May Ex Date*
GREENCREST
Consolidation of Shares

IRCON
Bonus issue 1:1

JOSTS
Stock  Split From Rs.10/- to Rs.5/-

MINDSPACE
Income Distribution

*Today's Key Results/Board Meetings*
*20-May-21*
AEL
General

AMARDEE
Audited Results

AMRAAGRI
Audited Results

BIRET
Audited Results

BOSCHLTD
Audited Results; Dividend

CMMHOSP
General

COSMOFILMS
Audited Results

DISAQ
A.G.M.; Audited Results; Final Dividend

ECOBOAR
General

ELECTCAST
Audited Results; Dividend

EMKAY
Audited Results;
Final Dividend

EPL
Audited Results;
Final Dividend

EXPLEOSOL
Audited Results

GIPCL
Audited Results; Dividend

HAVELLS
Audited Results;
Final Dividend

HINDPETRO
Audited Results;
Final Dividend

IL&FSENGG
General

INDINFR
Audited Results

JKLAKSHMI
Audited Results; Dividend

KNRCON
Audited Results;
Final Dividend

LIBORD
Audited Results

LIBORDFIN
Audited Results

MANGALAM
Audited Results

MEGH
Audited Results

NDTV
Audited Results

PLASTIBLEN
Audited Results

PRESHAMET
Audited Results

RADIOCITY
Audited Results

RELAXO
Audited Results;
Final Dividend

RESPONSINF
Audited Results

RPEL
A.G.M.

STERWEB
Audited Results

THEINVEST
Audited Results

TORNTPOWER
Audited Results;
Final Dividend

TRELCHE-B
General

ULTRAMAR
Audited Results; Dividend

USHAMART
Audited Results

VIRAT
Audited Results;
Final Dividend

ZEEL
Audited Results;
Final Dividend

*Stock under F&O ban on NSE*
*20-May-21*
1CADILAHC
2NATIONALUM
3SAIL

World Markets

Dow - 165
Nasdaq - 4
Dax - 273
Nikkei - 80
Hangseng - 253
Sgxnifty + 4 (15053)
Brent Crude 66.87
Dow Fut - 70
Dollar Index 90.14

*Gravita India Ltd.* | *CMP* Rs. 115 | *M Cap* Rs. 794 Cr | *52 W H/L* 123/32
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 438.3 Cr (17.3% QoQ, 15.6% YoY) vs QoQ Rs. 373.6 Cr, YoY Rs. 379.3 Cr
EBIDTA came at Rs. 42.3 Cr (28.9% QoQ, 45.8% YoY) vs QoQ Rs. 32.8 Cr, YoY Rs. 29 Cr
EBITDA Margin came at 9.6% vs QoQ 8.8%, YoY 7.6%
Adj. PAT came at Rs. 21.4 Cr vs QoQ Rs. 15.7 Cr, YoY Rs. 17.8 Cr
Quarter EPS is Rs. 3.1
Share is trading at P/E of 15.1x TTM EPS

*Endurance Technologies Ltd.* | *CMP* Rs. 1357 | *M Cap* Rs. 19086 Cr | *52 W H/L* 1540/602
(Nirmal Bang Retail Research)
*Result is marginally ahead of expectation*
Revenue from Operations came at Rs. 2132.9 Cr (4.5% QoQ, 33.6% YoY) vs expectation of Rs. 1979.7 Cr, QoQ Rs. 2040.9 Cr, YoY Rs. 1596.8 Cr
EBIDTA came at Rs. 332.2 Cr (-5.7% QoQ, 39.7% YoY) vs expectation of Rs. 316.4 Cr, QoQ Rs. 352.1 Cr, YoY Rs. 237.9 Cr
EBITDA Margin came at 15.6% vs expectation of 16%, QoQ 17.3%, YoY 14.9%
Adj. PAT came at Rs. 187.4 Cr vs expectation of Rs. 149.5 Cr, QoQ Rs. 201.3 Cr, YoY Rs. 106.8 Cr
Quarter EPS is Rs. 13.3
Share is trading at P/E of 27.2x FY22E EPS

*Vishnu Chemicals Ltd.* | *CMP* Rs. 355 | *M Cap* Rs. 424 Cr | *52 W H/L* 370/112
(Nirmal Bang Retail Research)
*Result improved*
Revenue from Operations came at Rs. 213.6 Cr (59.7% QoQ, 36.2% YoY) vs QoQ Rs. 133.7 Cr, YoY Rs. 156.8 Cr
EBIDTA came at Rs. 24.7 Cr (63.5% QoQ, 56% YoY) vs QoQ Rs. 15.1 Cr, YoY Rs. 15.8 Cr
EBITDA Margin came at 11.6% vs QoQ 11.3%, YoY 10.1%
Adj. PAT came at Rs. 10.9 Cr vs QoQ Rs. 3.7 Cr, YoY Rs. 5.1 Cr
Quarter EPS is Rs. 9.1
Share is trading at P/E of 12.3x TTM EPS

*JK Tyre & Industries Ltd.* | *CMP* Rs. 124 | *M Cap* Rs. 3053 Cr | *52 W H/L* 147/48
(Nirmal Bang Retail Research)
*Result improved* *Company has reduced debt by around Rs.1000cr*
Revenue from Operations came at Rs. 2927.3 Cr (5.7% QoQ, 63.1% YoY) vs QoQ Rs. 2769.3 Cr, YoY Rs. 1794.8 Cr
EBIDTA came at Rs. 454.7 Cr (-9.1% QoQ, 119.2% YoY) vs QoQ Rs. 500.4 Cr, YoY Rs. 207.4 Cr
EBITDA Margin came at 15.5% vs QoQ 18.1%, YoY 11.6%
Adj. PAT came at Rs. 179.6 Cr vs QoQ Rs. 183.9 Cr, YoY Rs. 13.9 Cr
Quarter EPS is Rs. 7.3
Share is trading at P/E of 10.8x TTM EPS

*Crypto Currency Fall today 20---40%*

After CHINA declare Ban to crypto payment

And Tesla... Elon musk share holding in Bitcoin

Bitcoin market cap

55 lac crore

Almost 15 lac cr Loose by investors Today After ban In china

*Today Investors loose*

75 lac Crore In crypto currency
After fall in Etherium... Bnb coin and bitcoin And other coins

#HindCopper is Mutual Fund's Top Buy Amongst Small Cap In April-21.

Net Buying in April By MF's 218 Crore INR..💸

CENTRAL BANK OF INDIA , Bank Of India , IOB : Sources says central bank of India, IOB , BANK OF INDIA name in Privatisation list

Indusind Bank says Sumant Kathpalia, MD & CEO plans to sell some shares held by him via exercise of previous ESOPs. He will sell shrs to repay loans to exercise earlier vested ESOPs

SETBACK FOR PRIVATISATION
BPCL PRIVATISATION FURTHER DELAYED
TIMELINE OF MAJOR PRIVATISATION LIKE BPCL BEING MOVED BACK:

*Heritage Foods Ltd.* | *CMP* Rs. 362 | *M Cap* Rs. 1680 Cr | *52 W H/L* 391/225
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 619.4 Cr (2.4% QoQ, -5.1% YoY) vs expectation of Rs. 632.4 Cr, QoQ Rs. 604.9 Cr, YoY Rs. 652.6 Cr
EBIDTA came at Rs. 47.8 Cr (-16.8% QoQ, -114.6% YoY) vs expectation of Rs. 81.9 Cr, QoQ Rs. 57.4 Cr, YoY Rs. -327.1 Cr
EBITDA Margin came at 7.7% vs expectation of 12.9%, QoQ 9.5%, YoY -50.1%
Adj. PAT came at Rs. 24.3 Cr vs expectation of Rs. 42.4 Cr, QoQ Rs. 26.4 Cr, YoY Rs. -209.2 Cr
Quarter EPS is Rs. 5.2
Share is trading at P/E of 11.1x FY22E EPS

*Minda Corp Q4FY21 Concall Update*
(Nirmal Bang Securities)

*Revival in 2 Wheeler demand remains the key monitorable*

*Outlook: Positive in long term*

• Revenue from Operations came at Rs. 794 Cr (+7% QoQ, +14% YoY).
• 2W OEMs (52% mix) performance remains the key going forward for Minda Corp. CV segment (13% mix) is expected to turnaround in FY22. PVs formed 11% mix & Tractors 8% mix.
• Most of the wiring harness is supplied to 2W and the least to Tractors & CVs.
• Although co’s most plants are operational; in month of May, almost 75% of dealerships are closed. Hence Q1 volumes will be severely impacted.
• Shortage of semi conductors is already impacting OEM supplies and needs to be monitored from a macro perspective.
• Diecasting revenues will continue to grow at 20-25%. Within diecasting, focus is on exports which has revenue of Rs. 110 Cr. This is likely to double in 3 years.
• Co will focus on developing new products catering to EV vehicles.
• Co will focus on exports. Exports segment won orders worth Rs 242 Cr (QoQ Rs. 224 Cr). Co will be applying for the Auto PLI scheme to drive exports and is in talks with its international JV partners.
• Started supplying keyless lock sets to export clients.
• EBITDA margins were at a 5 qtr high at 11.2% despite increase in raw material costs driven by operating leverage.
• Co is targeting 12% EBITDA margin in near term along with ROCE of 20%+
• Co has a share of atleast 50% with most of the customers for most of its products. In a few products, its share is 70-80% as well.
• No customer contributes more than 15% of revenue.

Stock is trading at P/E of 14.7x FY22E EPS

*Prism Johnson Ltd.* | *CMP* Rs. 144 | *M Cap* Rs. 7248 Cr | *52 W H/L* 144/29
(Nirmal Bang Retail Research)
*Result*
Revenue from Operations came at Rs. 1850.2 Cr (21.3% QoQ, 24.8% YoY) vs expectation of Rs. 1652.4 Cr, QoQ Rs. 1525.4 Cr, YoY Rs. 1483.1 Cr
EBIDTA came at Rs. 237.5 Cr (24.8% QoQ, 76.8% YoY) vs expectation of Rs. 231.4 Cr, QoQ Rs. 190.3 Cr, YoY Rs. 134.3 Cr
EBITDA Margin came at 12.8% vs expectation of 14%, QoQ 12.5%, YoY 9.1% (lower EBITDA margin as compared to Expected is on account of lower margin in Tiles business Cement margin seems to be in line)
Adj. PAT came at Rs. 143.8 Cr vs expectation of Rs. 78 Cr, QoQ Rs. 67.2 Cr, YoY Rs. -20.4 Cr (Higher PAT is on account of w/back of tax in current Quarter and loss last year was on account of higher Tax)
Quarter EPS is Rs. 2.9
Share is trading at EV/EBITDA of 9.1x FY22E EBITDA

Tech sell-off leads market to session lows with the Dow sliding 550 points

U.S. stocks fell sharply on Wednesday as massive selling returned to the tech sector amid a plunge in cryptocurrencies.

The Dow Jones Industrial Average fell 550 points, while the S&P 500 dropped 1.5%. The tech-heavy Nasdaq Composite slid 1.5% as Microsoft, Facebook, Alphabet and Apple all slid more than 1%

Sentiment in the tech sector was dented by a drop in cryptocurrencies including bitcoin. The world’s largest digital token plunged 30% at its low of the session to just above $30,000 according to Coin Metrics. Bitcoin has been cut in half since hitting an all-time high above $64,000 in mid-April. On Tuesday, China warned financial institutions not to conduct crypto-related business, possibly sparking the sell-off.

Tesla, a big holder of bitcoin, declined 4%. Microstrategy, another company which bought a large amount of bitcoin for its corporate treasury, tanked by 10%. Coinbase, the newly public crypto exchange, tumbled nearly 10%.

“There is no question that bitcoin has been the poster child for rampant market speculation and risk appetite,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Thus, it should be absolutely monitored in gauging the pulse of risk taking, and now risk aversion.”

Growth stocks have come under pressure lately with the Nasdaq Composite falling nearly 5% in May as fears of inflation intensified. A sustained pickup in price pressures could unravel the Federal Reserve’s accommodative policies, which could hurt technology companies that have relied for years on easy borrowing costs for superior growth.

Cathie Wood’s flagship fund Ark Innovation ETF (ARKK) dropped more than 4%, bringing its 2021 losses to more than 18%.

“This was bound to happen at some point in ’21 and a somewhat of a reset in crypto-pricing is likely more healthy vs negative for the broader equity markets over time,” Jordan Klein, an analyst at Barclays, said in a note.

The Fed publishes the minutes from its April meeting later Wednesday afternoon, which could add to angst about inflation. The Fed kept its easy policies that meeting, but acknowledged that inflation could rise in coming months. The central bank maintains that these price pressures will be transitory.

“The major question for markets right now is whether the Fed is right and this increase in inflation is just temporary, because if inflation is not temporary, it could unleash a very painful period for virtually all investors,” Tom Essaye, founder of Sevens Report, said in a note.

Helping the sentiment a bit on Wednesday was better-than-expected results from Target. Shares of the major retailer popped by 3.8% after it said sales surged 23% last quarter.

Major stock indexes came off back-to-back losses weighed by weakness in the technology sector. Soft housing data on Tuesday partly triggered the broad selling in the previous session.

⭕ *Good news for Oil Marketing Cos - RIL, IOC, HPCL, BPCL*

*Singapore GRM has now surged to levels of $3.5/bbl from $1.4/bbl lows in Jan 2021*

Gross Refining margins across Asia has recovered over $3/bbl

Indian cos esp in Pvt sector do much better than Singapore GRM Benchmark

*ITC HOLDERS KO AAJ CRYPTO CRASH DEKHAR EK DILASA HAI*

*BHALE BADHE NAI PAR AISA GIRE ITNA BEWAFA BHI NAI HAI*

*JUST ON LIGHTER NOTE😂*

*WHAT THE BIG GUYS DID IN WEDNESDAY’S TRADING SESSION:*

*INSTITUTIONS ACTIVITY:*

19th May 2021.

FII: +7138.11 - 7835.86 = -697.75 Cr
DII +4722.98 - 5575.50 = -852.52 Cr

Idxfut +3301.70 - 3160.06 = +141.64 Cr
Idxopt + 415168.22 - 415467.12 = -298.90 Cr
Stkfut + 11715.19 - 13141.49 = -1425.70 Cr
Stkopt + 19566.29 - 19650.28 = -83.99 Cr

Week Till Date
FII: -2335.10 Cr
DII: +1545.48 Cr.

Month till Date:
FII: -11048.35 Cr.
DII: +2436.68 Cr.

*SGX Nifty at 7:17 PM: (-40, 14998)*

*4.00 PM, 19th May 2021:*

*LATEST AFTER THE BELL: Nifty fades —— tracking losses in Asia, Europe and on Wall Street.*

*Nifty (-78, 15030).*

The benchmarks at Dalal Street slipped in today’s trade and most of the momentum stocks were under sharp pressure primarily tracking losses in Asia and overnight losses on Wall Street.

*The negative catalyst:* Investors stepped back amidst worries about inflationary pressures, with the minutes of the Federal Reserve’s latest meeting swinging into focus.

The minutes of the Federal Open Market Committee meeting of April 27-28 will be released later in the evening with investors watching out for any indications on whether the central bank is considering a shift in its accommodative monetary stance.

Adding to worries over global inflation, U.K. data showed consumer prices rose 1.5% on the year in April, twice the rate of inflation reported in March.

Meanwhile, the S&P BSE MidCap index ended 0.05% lower while and BSE SmallCap ended 0.64% higher.

Amongst sectoral indices, the trend was largely mixed. The NSE Metal index slipped 1.07% trailed by NSE Auto and NSE Bank which fell 0.81% and 0.77% respectively while NSE Reality and NSE Pharma index gained 2.07% and 1.29% respectively.

Coal India, Cipla, Sun Pharma, UPL, Nestle India, Indian Oil Corporation, Tech M, Axis Bank, and SBI Life were the top gainers of the day.


*The other key highlights of today’s trade:*

• Nifty slips but manages to hold above the 15000 mark. Bank Nifty too falls, down 0.7%.
• Around 22 stocks of the Nifty 50 stocks ended the day in green.
• Top Index Gainers: COAL INDIA (+3.45%) CIPLA (+2.08%) SUN PHARMA (+1.9%)
• Top Index Losers: TATA MOTORS (-5.52%) BAJAJ FINSERV (-1.77%) M&M (-1.62%)
• Investors bracing with two fears: Inflation fears and the virus fears.


*Our view for Thursday’s trade:*

Technically speaking, Nifty’s make-or-break supports are placed at 14756 mark. As long as Nifty’s 14756 support holds, the benchmark will aim its all-time-high at 15432 mark and then all bullish bets at magical 16000 mark.

Meanwhile, commanding attention would be — how global stock markets will react to the Wednesday’s release of minutes from the Federal Reserve’s most recent meeting to help gauge the central bank’s tolerance for pricing pressures in the aftermath of the COVID pandemic.

Amongst stocks on buy side, we like COAL INDIA with interweek/intermonth perspective.


Stay Tuned.

Disclaimer: Investment/Trading in equities is subject to market risks. Notwithstanding all the efforts to do best research, clients should understand that investing in equities, involves a risk of loss of both.

*Adani Green* to acquire SB Energy’s India portfolio for $3.5 bn:

*This is the largest acquisition in the renewable energy sector in India*
https://www.thehindubusinessline.com/companies/adani-green-to-acquire-sb-energys-india-renewable-energy-portfolio-for-35-bn/article34592736.ece