MARKET OUTLOOK, 22 APRIL, 2015

Dear Customer,

 

Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.

 

• U.S. stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger.

Dow Jones	17949.6	-85.3	-0.47%
Dow Futures	17883.0	-60.0	-0.33%
Hangseng	28008.0	+157.5	+0.57%
Nikkie	20123.4	+214.3	+1.08%
SGX Nifty	8397.0	-15.0	-0.18%

 

• Japanese stocks extended a seven-year high, leading a gauge of Asian equities higher for a second day. Oil dropped, while Australia’s dollar climbed after data showed faster-than-estimated inflation.
• Market is expected to open on flattish note but may advance during the day.
• Century Textiles may spinoff cement asssets and merge with UltraTech in an all share deal
• Cimmco gets licence for manufacturing defence equipment
• Bajaj Finance to raise Rs.1400cr through QIP and will issue 9.25 lakh convertable warrent to promoter

 

• Results Announced

Wipro	Result inline but guidance for next qtr is lower. $ IT revenue came at 1774cr and constant currency revenue came at $1818 at the lower end of guidance of $1814-1850mn. EBIT Came ahead of exp at 2426cr vs exp 2376 PAT came at 2142cr vs exp 2168cr. Wipro has guided for revenue of $1765 -1793mn implies de-growth at lower end of guidance. Share is trading at 15.22 PE for FY16 earning
Symphony	Result is in-line
Persistent	Result marginally below exp. $ revenue came at $80.03mn v/s exp 81.8mn Rs. revenue came at Rs.497cr vs exp 506 EBITDA came at 100cr vs exp 101cr PAT came at 76cr vs exp 70cr. Share is trading at 16.9 PE of FY16 earning which is reasonable
VST Inds	Result improved Sales came at 218cr vs qoq 196 yoy 189cr EBITDA came at 64.6cr vs qoq 48.8cr yoy 63.8cr PAT came at 40.69cr vs qoq 30.4cr yoy 51.9cr Qtr EPS Rs.26.34
Wendt	Result is good
DIC India	Result good. Sales came at 172cr vs qoq 182 yoy 176cr EBITDA came at 11.12cr vs qoq 3.05cr yoy -2.91cr. PAT came at 5.67cr vs qoq 1.38cr yoy loss of -7.5cr Qtr EPS is Rs.6.19
Tayo Rolls	Result continue to remain weak

 

• Result to be Announced (PAT Rs cr)

22-Apr	Mar'14	Dec'14	Expectation	NB Insti
Supreme Petrochem Ltd.	9.637	-58.941	na	na
Yes Bank Ltd.	430.2	540.3	553.7	na
Clariant Chemicals (India) Ltd.	15.13	844.07	na	na
Everest Industries Ltd.	3.04	1.14	na	na
KSB Pumps Ltd.	15.13	9.97	17.2	na
Mastek Ltd.	11.3	8.7	6.2	na
Rallis India Ltd.	19.3	25.49	23.1	na

 

  

Happy Trading

 

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