*Goodyear India Ltd.* | *CMP* Rs. 930 | *M Cap* Rs. 2148 Cr | *52 W H/L* 1202/674
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 569.3 Cr (10.7% QoQ, 51.8% YoY) vs QoQ Rs. 514.3 Cr, YoY Rs. 375 Cr
EBIDTA came at Rs. 67.5 Cr (-9.3% QoQ, 188.3% YoY) vs QoQ Rs. 74.4 Cr, YoY Rs. 23.4 Cr
EBITDA Margin came at 11.8% vs QoQ 14.5%, YoY 6.2%
Adj. PAT came at Rs. 43.2 Cr vs QoQ Rs. 49 Cr, YoY Rs. 12.7 Cr
Quarter EPS is Rs. 18.7
Share is trading at P/E of 15.8x TTM EPS
(Nirmal Bang Retail Research)
*Result ok*
Revenue from Operations came at Rs. 569.3 Cr (10.7% QoQ, 51.8% YoY) vs QoQ Rs. 514.3 Cr, YoY Rs. 375 Cr
EBIDTA came at Rs. 67.5 Cr (-9.3% QoQ, 188.3% YoY) vs QoQ Rs. 74.4 Cr, YoY Rs. 23.4 Cr
EBITDA Margin came at 11.8% vs QoQ 14.5%, YoY 6.2%
Adj. PAT came at Rs. 43.2 Cr vs QoQ Rs. 49 Cr, YoY Rs. 12.7 Cr
Quarter EPS is Rs. 18.7
Share is trading at P/E of 15.8x TTM EPS
*Strides Pharma – Q4FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive for Medium to Long term*
The stock is trading at 20x FY22E consensus earnings
FY21
• Witnessed lower footfalls at pharmacies and lower elective surgeries in hospitals throughout FY21 leading to lower prescription generation specifically in US, UK and Europe
• Weak demand for certain products in the acute portfolio, winter portfolio a complete washout in FY21 due to absence of flu season
• The disruptions in manufacturing operations during the first wave had significantly depleted the safety stocks on the key products. This necessitated the company to increase air-shipments in H2 to minimize FTS and maintain customer advocacy despite very high freight rates
• FY21 saw significant cost increases attributable to manufacturing disruptions and cost escalations with logistics cost increasing by Rs 80 cr and FTS increasing by Rs 49.3 cr YoY
• Re-inspection of Puducherry site has not yet occurred due to COVID-19 related travel delays
• Validation batches of Sputnik commenced in late May from newly commissioned facility, expect large scale facility to be on track in July in spite of COVID challenges and expected to be in the market with product as previously announced by October
• *Have 400mn jabs deal for Sputnik V – just started validation batches – would be over by June*
• Expect all capex at Stelis to be completed in FY22
• *Higher Freight costs have impacted the margins. These higher costs are likely to continue in near future also*
US
• US revenues at $58m for Q4FY21, up 46% YoY and 10% QoQ
• Base molecules continue to witness healthy traction, new product launches and VA business bolsters growth momentum for the US business offsetting the price erosion impacts
• Winter portfolio continued to be impacted as there was no flu season in the US
• Since April’20, it has filed 11 ANDAs and received approval for 16 ANDAs in the US. Launched 6 products in FY21
• *Expect filing momentum to pick up in FY22*
• *Price erosions continue to happen even in Q4 as well*
Other regulated Markets
• Other regulated markets Q4FY21 revenues at $37m up 20% YoY
• Performance in Q4FY21 temporary impacted due to decline in retail prescription for Rx and OTC products and weak hospital demand owing to 2nd COVID-19 wave in UK and Europe
• Long term growth outlook for other regulated markets continues to be robust. Healthy order book and portfolio expansion to drive growth in FY22
• In other regulated markets Strides filed 18 products and received 16 new product approvals
Emerging markets
• Emerging markets revenues for Q4FY21 at $29m up 107% YoY
• Growth in institutional business driven by TLD which was commercialized in H2FY21
• Africa business delivered healthy performance despite COVID-19 related headwinds
*Outlook – Positive for Medium to Long term*
The stock is trading at 20x FY22E consensus earnings
FY21
• Witnessed lower footfalls at pharmacies and lower elective surgeries in hospitals throughout FY21 leading to lower prescription generation specifically in US, UK and Europe
• Weak demand for certain products in the acute portfolio, winter portfolio a complete washout in FY21 due to absence of flu season
• The disruptions in manufacturing operations during the first wave had significantly depleted the safety stocks on the key products. This necessitated the company to increase air-shipments in H2 to minimize FTS and maintain customer advocacy despite very high freight rates
• FY21 saw significant cost increases attributable to manufacturing disruptions and cost escalations with logistics cost increasing by Rs 80 cr and FTS increasing by Rs 49.3 cr YoY
• Re-inspection of Puducherry site has not yet occurred due to COVID-19 related travel delays
• Validation batches of Sputnik commenced in late May from newly commissioned facility, expect large scale facility to be on track in July in spite of COVID challenges and expected to be in the market with product as previously announced by October
• *Have 400mn jabs deal for Sputnik V – just started validation batches – would be over by June*
• Expect all capex at Stelis to be completed in FY22
• *Higher Freight costs have impacted the margins. These higher costs are likely to continue in near future also*
US
• US revenues at $58m for Q4FY21, up 46% YoY and 10% QoQ
• Base molecules continue to witness healthy traction, new product launches and VA business bolsters growth momentum for the US business offsetting the price erosion impacts
• Winter portfolio continued to be impacted as there was no flu season in the US
• Since April’20, it has filed 11 ANDAs and received approval for 16 ANDAs in the US. Launched 6 products in FY21
• *Expect filing momentum to pick up in FY22*
• *Price erosions continue to happen even in Q4 as well*
Other regulated Markets
• Other regulated markets Q4FY21 revenues at $37m up 20% YoY
• Performance in Q4FY21 temporary impacted due to decline in retail prescription for Rx and OTC products and weak hospital demand owing to 2nd COVID-19 wave in UK and Europe
• Long term growth outlook for other regulated markets continues to be robust. Healthy order book and portfolio expansion to drive growth in FY22
• In other regulated markets Strides filed 18 products and received 16 new product approvals
Emerging markets
• Emerging markets revenues for Q4FY21 at $29m up 107% YoY
• Growth in institutional business driven by TLD which was commercialized in H2FY21
• Africa business delivered healthy performance despite COVID-19 related headwinds
*Fine Organic Industries Ltd.* | *CMP* Rs. 3238 | *M Cap* Rs. 9941 Cr | *52 W H/L* 3470/1852
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Revenue from Operations came at Rs. 322.9 Cr (7.9% QoQ, 30.6% YoY) vs expectation of Rs. 314.1 Cr, QoQ Rs. 299.3 Cr, YoY Rs. 247.3 Cr
EBIDTA came at Rs. 48.4 Cr (2.5% QoQ, -15.6% YoY) vs expectation of Rs. 53.2 Cr, QoQ Rs. 47.2 Cr, YoY Rs. 57.3 Cr
EBITDA Margin came at 15% vs expectation of 16.9%, QoQ 15.8%, YoY 23.2%
Adj. PAT came at Rs. 31.8 Cr vs expectation of Rs. 33.4 Cr, QoQ Rs. 28.7 Cr, YoY Rs. 34.4 Cr
Quarter EPS is Rs. 10.4
Share is trading at P/E of 48.5x FY22E EPS
(Nirmal Bang Retail Research)
*Result is marginally below expectations*
Revenue from Operations came at Rs. 322.9 Cr (7.9% QoQ, 30.6% YoY) vs expectation of Rs. 314.1 Cr, QoQ Rs. 299.3 Cr, YoY Rs. 247.3 Cr
EBIDTA came at Rs. 48.4 Cr (2.5% QoQ, -15.6% YoY) vs expectation of Rs. 53.2 Cr, QoQ Rs. 47.2 Cr, YoY Rs. 57.3 Cr
EBITDA Margin came at 15% vs expectation of 16.9%, QoQ 15.8%, YoY 23.2%
Adj. PAT came at Rs. 31.8 Cr vs expectation of Rs. 33.4 Cr, QoQ Rs. 28.7 Cr, YoY Rs. 34.4 Cr
Quarter EPS is Rs. 10.4
Share is trading at P/E of 48.5x FY22E EPS
*Metropolis Healthcare ltd.* | *CMP* Rs. 2300 | *M Cap* Rs. 11753 Cr | *52 W H/L* 2605/1242
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 291.7 Cr (6.2% QoQ, 40.9% YoY) vs expectation of Rs. 289.8 Cr, QoQ Rs. 274.8 Cr, YoY Rs. 207 Cr
EBIDTA came at Rs. 96.4 Cr (11.3% QoQ, 87.5% YoY) vs expectation of Rs. 89.3 Cr, QoQ Rs. 86.6 Cr, YoY Rs. 51.4 Cr
EBITDA Margin came at 33% vs expectation of 30.8%, QoQ 31.5%, YoY 24.8%
Adj. PAT came at Rs. 61.3 Cr vs expectation of Rs. 60.3 Cr, QoQ Rs. 58.6 Cr, YoY Rs. 33.2 Cr
Quarter EPS is Rs. 12
Share is trading at P/E of 53.7x FY22E EPS
(Nirmal Bang Retail Research)
*Result is above expectations*
Revenue from Operations came at Rs. 291.7 Cr (6.2% QoQ, 40.9% YoY) vs expectation of Rs. 289.8 Cr, QoQ Rs. 274.8 Cr, YoY Rs. 207 Cr
EBIDTA came at Rs. 96.4 Cr (11.3% QoQ, 87.5% YoY) vs expectation of Rs. 89.3 Cr, QoQ Rs. 86.6 Cr, YoY Rs. 51.4 Cr
EBITDA Margin came at 33% vs expectation of 30.8%, QoQ 31.5%, YoY 24.8%
Adj. PAT came at Rs. 61.3 Cr vs expectation of Rs. 60.3 Cr, QoQ Rs. 58.6 Cr, YoY Rs. 33.2 Cr
Quarter EPS is Rs. 12
Share is trading at P/E of 53.7x FY22E EPS
*Hawkins Cookers Ltd.* | *CMP* Rs. 5959 | *M Cap* Rs. 3158 Cr | *52 W H/L* 6201/3950
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 243.4 Cr (5.3% QoQ, 66.8% YoY) vs QoQ Rs. 231.1 Cr, YoY Rs. 146 Cr
EBIDTA came at Rs. 32.2 Cr (-1.4% QoQ, 121% YoY) vs QoQ Rs. 32.6 Cr, YoY Rs. 14.6 Cr
EBITDA Margin came at 13.2% vs QoQ 14.1%, YoY 10%
Adj. PAT came at Rs. 24 Cr vs QoQ Rs. 24.2 Cr, YoY Rs. 9.4 Cr
Quarter EPS is Rs. 45.2
Share is trading at P/E of 39.2x TTM EPS
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 243.4 Cr (5.3% QoQ, 66.8% YoY) vs QoQ Rs. 231.1 Cr, YoY Rs. 146 Cr
EBIDTA came at Rs. 32.2 Cr (-1.4% QoQ, 121% YoY) vs QoQ Rs. 32.6 Cr, YoY Rs. 14.6 Cr
EBITDA Margin came at 13.2% vs QoQ 14.1%, YoY 10%
Adj. PAT came at Rs. 24 Cr vs QoQ Rs. 24.2 Cr, YoY Rs. 9.4 Cr
Quarter EPS is Rs. 45.2
Share is trading at P/E of 39.2x TTM EPS
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Market Wizard
FREE FINANCIAL EDUCATIONAL CHANNEL
Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
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Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
*Nocil Ltd.* | *CMP* Rs. 209 | *M Cap* Rs. 3474 Cr | *52 W H/L* 219/81
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 322 Cr (17.3% QoQ, 51.4% YoY) vs QoQ Rs. 274.6 Cr, YoY Rs. 212.7 Cr
EBIDTA came at Rs. 52.3 Cr (38.6% QoQ, 43% YoY) vs QoQ Rs. 37.7 Cr, YoY Rs. 36.6 Cr
EBITDA Margin came at 16.3% vs QoQ 13.7%, YoY 17.2%
Adj. PAT came at Rs. 37.3 Cr vs QoQ Rs. 22.3 Cr, YoY Rs. 21.9 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 25x FY22E EPS
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 322 Cr (17.3% QoQ, 51.4% YoY) vs QoQ Rs. 274.6 Cr, YoY Rs. 212.7 Cr
EBIDTA came at Rs. 52.3 Cr (38.6% QoQ, 43% YoY) vs QoQ Rs. 37.7 Cr, YoY Rs. 36.6 Cr
EBITDA Margin came at 16.3% vs QoQ 13.7%, YoY 17.2%
Adj. PAT came at Rs. 37.3 Cr vs QoQ Rs. 22.3 Cr, YoY Rs. 21.9 Cr
Quarter EPS is Rs. 2.2
Share is trading at P/E of 25x FY22E EPS
*Solar Industries (India) Ltd.* | *CMP* Rs. 1337 | *M Cap* Rs. 12100 Cr | *52 W H/L* 1421/863
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 791.4 Cr (22.5% QoQ, 44.6% YoY) vs QoQ Rs. 645.9 Cr, YoY Rs. 547.5 Cr
EBIDTA came at Rs. 164.6 Cr (24.4% QoQ, 83.4% YoY) vs QoQ Rs. 132.2 Cr, YoY Rs. 89.7 Cr
EBITDA Margin came at 20.8% vs QoQ 20.5%, YoY 16.4%
Adj. PAT came at Rs. 91 Cr vs QoQ Rs. 78 Cr, YoY Rs. 50 Cr
Quarter EPS is Rs. 10.1
Share is trading at P/E of 35.5x FY22E EPS
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 791.4 Cr (22.5% QoQ, 44.6% YoY) vs QoQ Rs. 645.9 Cr, YoY Rs. 547.5 Cr
EBIDTA came at Rs. 164.6 Cr (24.4% QoQ, 83.4% YoY) vs QoQ Rs. 132.2 Cr, YoY Rs. 89.7 Cr
EBITDA Margin came at 20.8% vs QoQ 20.5%, YoY 16.4%
Adj. PAT came at Rs. 91 Cr vs QoQ Rs. 78 Cr, YoY Rs. 50 Cr
Quarter EPS is Rs. 10.1
Share is trading at P/E of 35.5x FY22E EPS
*CALCULUS DERIVATIVES CORNER*
8 AM.
*Market Summary:*
• Nifty June Futures ended Thursday’s session at a premium of +63.
• The 03rd June expiry Put-Call Open Interest Ratio was at 1.04 for Nifty whereas it was 0.86 for Bank Nifty.
• The 03rd June expiry Put-Call Volume Ratio was at 0.87 for the Nifty and 0.72 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15300 Strike Price for 03rd June Series. Long buildup was seen at strike prices 14900-15300.
• Maximum Put Open Interest (OI) was seen at strike price 15200 followed by 15000 strike prices for 03rd June series. Short buildup was seen at strike prices 14400-15400.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 34500 Strike Price.
• As per Thursday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 660.90 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs.112.38 crores in the Indian Equity market.
• Long Buildup: BANKBARODA, SAIL, ICICIBANK, SBIN, NMDC.
• Short Buildup: BHARTIARTL, ADANIENT, HDFC, DABUR.
• Short Covering: ZEEL, INFY, L&T, RBLBANK.
• Long Unwinding: VEDL, BPCL, MANAPPURAM.
• Stocks banned in F&O segment: NIL.
• New in Ban: NIL.
• Out of Ban: AMARARAJABAT, CANBK.
8 AM.
*Market Summary:*
• Nifty June Futures ended Thursday’s session at a premium of +63.
• The 03rd June expiry Put-Call Open Interest Ratio was at 1.04 for Nifty whereas it was 0.86 for Bank Nifty.
• The 03rd June expiry Put-Call Volume Ratio was at 0.87 for the Nifty and 0.72 for Bank Nifty.
• For Nifty, Maximum Call Open Interest (OI) stands at 16000 Strike Price, followed by 15300 Strike Price for 03rd June Series. Long buildup was seen at strike prices 14900-15300.
• Maximum Put Open Interest (OI) was seen at strike price 15200 followed by 15000 strike prices for 03rd June series. Short buildup was seen at strike prices 14400-15400.
• For Bank Nifty, Maximum Call Open Interest (OI) stands at 35000 Strike Price and Maximum Put Open Interest stands at 34500 Strike Price.
• As per Thursday’s Provisional Data available on the NSE, FIIs sold shares worth Rs. 660.90 crores in the Indian Equity Market. DIIs on the other hand bought shares worth Rs.112.38 crores in the Indian Equity market.
• Long Buildup: BANKBARODA, SAIL, ICICIBANK, SBIN, NMDC.
• Short Buildup: BHARTIARTL, ADANIENT, HDFC, DABUR.
• Short Covering: ZEEL, INFY, L&T, RBLBANK.
• Long Unwinding: VEDL, BPCL, MANAPPURAM.
• Stocks banned in F&O segment: NIL.
• New in Ban: NIL.
• Out of Ban: AMARARAJABAT, CANBK.
*Good Morning & Welcome to Friday’s trading action at Dalal Street dated 28th of May 2021.*
Overnight, the Dow Jones edges higher as Jobless claims kept sliding.
In early action, SGX Nifty is seen inching higher indicating yet another positive session for our stock markets. Metal stocks could rebound as overnight prices of various metals were up 3-5%. Hindalco & Jindal Steel & Power preferred bets in the metal space.
Lifting optimism are reports that President Joe Biden plans to propose a $6 trillion budget for fiscal 2022. The budget, according to the New York Times, would take the U.S. to its highest level of federal spending since World War II.
*Long story short: Dalal Street to enjoy yet another boisterous day of gains.*
*7 AM GLOBAL UPDATE:*
• SGX Nifty (+56, 15470)
• DOW JONES (+142, 34465)
• NASDAQ (-2, 13736)
• BOVESPA (+377, 124367)
• NIKKEI (+455, 29004)
• HANG SENG (+106, 29219)
Instrument CMP Bias
OIL $67.20 a barrel Positive
GOLD $1899 Positive
Silver 27.93 Positive
USD/INR 72.68 Negative
*INSTITUTIONS:*
• FII: 660.90 Cr
• DII: +112.38 Cr
*THEME OF THE DAY:*
• Global: Positive
• FII: Negative (-660.90 Cr)
• DII: Positive (+112.38 Cr)
• F&O: 15257-15557 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Higher high/low
• Theme: Nifty’s all time high at 15432 mark.
*All ABOUT NIFTY & BANK NIFTY’ CRUCIAL LEVELS*
NIFTY (CMP 15338):
• SUPPORT: 15257/15057
• RESISTANCE: 15432/16001
• RANGE: 15257-15557
• BIAS: Positive.
BANK NIFTY (CMP 35095):
• SUPPORT: 34410/33057
• RESISTANCE: 36497/37709
• RANGE: 34751-36751
• BIAS: Positive.
*THEME OF THE DAY:*
Fresh data out Thursday in the U.S continued to paint a rosy picture of the American economy's resurgence. Weekly jobless claims declined yet again, with filings for the week ended May 22 lower by 38,000 claims to 406,000, easily coming in under estimates for 425,000.
Our *call of the day* which suggests investors to keep holding your investments, and then returns will follow. Do not hoard cash citing overbought technical conditions. Most importantly, when there are corrective declines —— ‘Simply Buy More’.
Technically speaking, the ongoing bullish theme is likely to prevail as long as Nifty stays above its biggest support at the 15050 mark. We expect, the benchmark Nifty to easily gallop to 15432 mark and then all bullish bets at magical 16000 mark. The price action for Nifty for this week’s trade is suggesting that we are likely to see a 15151- 15551 range in near term with buy on dips as the preferred strategy
Our *chart of the day* is bullish on stocks like INDUSIND BANK, BANK OF BARODA and HINDALCO with an interweek/intermonth perspective.
*SHOW ME THE MONEY: INDUSIND BANK (CMP 1007):* A potential entrance exists at CMP, and on dips between 971-975 zone, with targets at the 1060 mark. Holding Period: 3-5 days. Place stop below its key support at 951.
*Earnings to trickle in today:* MAHINDRA & MAHINDRA, GLENMARK PHARMA, IPCA LABORATORIES, 3M INDIA, ADITYA BIRLA FASHION AND RETAIL, DEEPAK FERTILISERS, MAX HEALTHCARE INSTITUTE, SUMITOMO CHEMICAL INDIA.
• Saturday, 29th May 2021: BANK OF BARODA, DIVIS LABS.
*Now, here are other key things to know before today’s market opens:*
• The Reserve Bank of India, in its annual report, has issued caution over the meteoric rise in stock prices at a time when the country’s gross domestic product (GDP) has contracted. RBI is of the view that the risks are particularly high as the markets trade ahead of the fundamentals.
• Lockdown in Maharashtra will be extended beyond June 1 and subsequently relaxed in phases, chief minister Uddhav Thackeray said on Thursday.
• India’s largest pharma firm, Sun Pharmaceuticals, posted a 124% year-on-year rise in net profit in the fourth quarter of the 2020-21 fiscal to Rs 894.1 crore. When compared to Rs 636 crore net profit in Q4FY19, the rise is around 40%.
Overnight, the Dow Jones edges higher as Jobless claims kept sliding.
In early action, SGX Nifty is seen inching higher indicating yet another positive session for our stock markets. Metal stocks could rebound as overnight prices of various metals were up 3-5%. Hindalco & Jindal Steel & Power preferred bets in the metal space.
Lifting optimism are reports that President Joe Biden plans to propose a $6 trillion budget for fiscal 2022. The budget, according to the New York Times, would take the U.S. to its highest level of federal spending since World War II.
*Long story short: Dalal Street to enjoy yet another boisterous day of gains.*
*7 AM GLOBAL UPDATE:*
• SGX Nifty (+56, 15470)
• DOW JONES (+142, 34465)
• NASDAQ (-2, 13736)
• BOVESPA (+377, 124367)
• NIKKEI (+455, 29004)
• HANG SENG (+106, 29219)
Instrument CMP Bias
OIL $67.20 a barrel Positive
GOLD $1899 Positive
Silver 27.93 Positive
USD/INR 72.68 Negative
*INSTITUTIONS:*
• FII: 660.90 Cr
• DII: +112.38 Cr
*THEME OF THE DAY:*
• Global: Positive
• FII: Negative (-660.90 Cr)
• DII: Positive (+112.38 Cr)
• F&O: 15257-15557 zone
• Trend: Up
• Sentiment: Bullish
• Technicals: Higher high/low
• Theme: Nifty’s all time high at 15432 mark.
*All ABOUT NIFTY & BANK NIFTY’ CRUCIAL LEVELS*
NIFTY (CMP 15338):
• SUPPORT: 15257/15057
• RESISTANCE: 15432/16001
• RANGE: 15257-15557
• BIAS: Positive.
BANK NIFTY (CMP 35095):
• SUPPORT: 34410/33057
• RESISTANCE: 36497/37709
• RANGE: 34751-36751
• BIAS: Positive.
*THEME OF THE DAY:*
Fresh data out Thursday in the U.S continued to paint a rosy picture of the American economy's resurgence. Weekly jobless claims declined yet again, with filings for the week ended May 22 lower by 38,000 claims to 406,000, easily coming in under estimates for 425,000.
Our *call of the day* which suggests investors to keep holding your investments, and then returns will follow. Do not hoard cash citing overbought technical conditions. Most importantly, when there are corrective declines —— ‘Simply Buy More’.
Technically speaking, the ongoing bullish theme is likely to prevail as long as Nifty stays above its biggest support at the 15050 mark. We expect, the benchmark Nifty to easily gallop to 15432 mark and then all bullish bets at magical 16000 mark. The price action for Nifty for this week’s trade is suggesting that we are likely to see a 15151- 15551 range in near term with buy on dips as the preferred strategy
Our *chart of the day* is bullish on stocks like INDUSIND BANK, BANK OF BARODA and HINDALCO with an interweek/intermonth perspective.
*SHOW ME THE MONEY: INDUSIND BANK (CMP 1007):* A potential entrance exists at CMP, and on dips between 971-975 zone, with targets at the 1060 mark. Holding Period: 3-5 days. Place stop below its key support at 951.
*Earnings to trickle in today:* MAHINDRA & MAHINDRA, GLENMARK PHARMA, IPCA LABORATORIES, 3M INDIA, ADITYA BIRLA FASHION AND RETAIL, DEEPAK FERTILISERS, MAX HEALTHCARE INSTITUTE, SUMITOMO CHEMICAL INDIA.
• Saturday, 29th May 2021: BANK OF BARODA, DIVIS LABS.
*Now, here are other key things to know before today’s market opens:*
• The Reserve Bank of India, in its annual report, has issued caution over the meteoric rise in stock prices at a time when the country’s gross domestic product (GDP) has contracted. RBI is of the view that the risks are particularly high as the markets trade ahead of the fundamentals.
• Lockdown in Maharashtra will be extended beyond June 1 and subsequently relaxed in phases, chief minister Uddhav Thackeray said on Thursday.
• India’s largest pharma firm, Sun Pharmaceuticals, posted a 124% year-on-year rise in net profit in the fourth quarter of the 2020-21 fiscal to Rs 894.1 crore. When compared to Rs 636 crore net profit in Q4FY19, the rise is around 40%.
• Eicher Motors posted a consolidated net profit of Rs 526.14 crore for the March quarter (Q4FY21). This is an increase of 73% from Rs 304 crore logged in the corresponding quarter last year.
• *Stock banned in F&O segment:* NIL.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note. This does not construe to be an investment advice. Stock market investments are subject to market risks. No content on this blog should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments. While we may talk about strategies or positions in the market, our intent is solely to showcase effective risk-management in dealing with financial instruments. This is purely an information service and any trading done on the basis of this information is at your own, sole risk.
• *Stock banned in F&O segment:* NIL.
*Disclaimer:* Our subscribers/clients may have positions in the stocks recommended in this note. Please note that the actual subscribers may receive additional information in real time not available to the viewers of this note. This does not construe to be an investment advice. Stock market investments are subject to market risks. No content on this blog should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this blog being used for actual investments. While we may talk about strategies or positions in the market, our intent is solely to showcase effective risk-management in dealing with financial instruments. This is purely an information service and any trading done on the basis of this information is at your own, sole risk.
*Results on May 28*
Mahindra & Mahindra, *Glenmark* Pharmaceuticals, Indian Bank, Ipca Laboratories, 3M India, Aditya Birla Fashion and Retail, Action Construction Equipment, Ador Multiproducts, Ador Welding, Arvind SmartSpaces, Aurionpro Solutions, Bengal & Assam Company, Camlin Fine Sciences, Confidence Petroleum India, Dilip Buildcon, Deepak Fertilisers & Petrochemicals Corporation, Prataap Snacks, Force Motors, Genus Power Infrastructures, GMM Pfaudler, Gulf Oil Lubricants India, Heidelbergcement India, ITD Cementation India, Jagran Prakashan, Jindal Poly Films, Max Healthcare Institute, Munoth Financial Services, Navkar Corporation, Nazara Technologies, NCC, NESCO, OnMobile Global, Shree Rama Newsprint, REC, Reliance Infrastructure, SMS Pharmaceuticals, Sudarshan Chemical Industries, Sumitomo Chemical India, Ujjivan Financial Services, V-Mart Retail, and Zuari Agro Chemicals will release quarterly earnings scorecard on May 28.
Mahindra & Mahindra, *Glenmark* Pharmaceuticals, Indian Bank, Ipca Laboratories, 3M India, Aditya Birla Fashion and Retail, Action Construction Equipment, Ador Multiproducts, Ador Welding, Arvind SmartSpaces, Aurionpro Solutions, Bengal & Assam Company, Camlin Fine Sciences, Confidence Petroleum India, Dilip Buildcon, Deepak Fertilisers & Petrochemicals Corporation, Prataap Snacks, Force Motors, Genus Power Infrastructures, GMM Pfaudler, Gulf Oil Lubricants India, Heidelbergcement India, ITD Cementation India, Jagran Prakashan, Jindal Poly Films, Max Healthcare Institute, Munoth Financial Services, Navkar Corporation, Nazara Technologies, NCC, NESCO, OnMobile Global, Shree Rama Newsprint, REC, Reliance Infrastructure, SMS Pharmaceuticals, Sudarshan Chemical Industries, Sumitomo Chemical India, Ujjivan Financial Services, V-Mart Retail, and Zuari Agro Chemicals will release quarterly earnings scorecard on May 28.