Pre-Market analysis

1)Nifty closed at 10116.15 up 0.69% and banknifty closed at 21100.10 up 1.81%.

2)We were trading flat whole day but there was huge reversal on positive side last half n hour and we closed higher.

3)Fed signals no rate hikes through 2022 and also projects 6.5% decline in US GDP this yr 

Dow shows profit booking slips 282 Pts 

3)Today, US and Europe futures are trading lower and asian markets opened weak and are trading flat to negative,sgx nifty is trading flat at 100106.

4) We may open flat to negative and will once again follow global futures as the day progresses.

5)Support and resistance for Nifty and Banknifty  for intraday.

6)Nifty option pain is at 10100 and banknifty option pain is at 21000.

7)Nifty May trade between 10000 and 10500 and banknifty may trade between 20000 and 22000 which will act as support and resistance.

8)Important events today.

9)Stocks in news.

Pharma companies in Focus( Cadila / IPCA )

Department of Pharmaceuticals has approved the lifting of ban on Export of Hydroxychloroquine API as well as formulations.

TeamLease

The Company has acquired the last tranche of 24% stake in E-Hire pursuant to which, the Company now holds 100% stake in E-hire, thereby rendering E-Hire as the Wholly Owned Subsidiary of the Company.

Bharti airtel /idea/ril in focus and banks

SUPREME COURT TO HEAR TELECOM DUES CASE TOMORROW.

If case goes aginst telecom,banks will rise and telecom sector stocks will fall and vice versa.

10)Results analysis.

HSIL Q4  (YoY)

Net Profit Down 89.9% At `3.4 Cr Vs `33.5 Cr

Revenue Down 2.1% At `461 Cr Vs `471 Cr

EBITDA Down 35.1% At `54.3 Cr Vs `83.7 Cr

EBITDA Margin At 11.8% Vs 17.8%.

Indian Hotel Q4 (YoY)

Net Profit down 37.7% At `76.3 Cr Vs `122.5 Cr 

Revenue down 14.6% At `1,063 Cr Vs `1,244 Cr

EBITDA down 28.8% At `208 Cr Vs `284 Cr 

EBITDA Margin At 19.6% Vs 22.8%

Tanla Sol

Q4FY20 QoQ

Sales down 3.1% to    522 v/s 539 cr

Loss of 89.1 v/s profit of rs 0.7 cr

Mahanagar Gas

Q4 Sl Net Profit 1.67b Rupees Vs 1.33b (YoY); Est 1.7b || Q4 Revenue 7.53b Rupees Vs 7.93b (YoY)

11)Fund Houses Recommendations

CLSA shares its view on IT cos, says margin defense will be the critical differentiator in the near-term for the sector, *Infosys and HCL* top picks (Positive)

*Dr Reddy*’s is CS’ top pick in the pharma sector; brokerage says like the co due to its strong US pipeline & multiple option values (Positive)

CLSA increases FY21/22 EPS estimates for *Hero Moto* by 9-10%, target raised to Rs 2700 from Rs 2400/Sh (Positive) 

Jefferies: *MGL*’s Q4 volumes fell 9% QoQ, but gross margin expanded sharply, target raised to Rs 1390 from Rs 1290/Sh (Neutral)

*Shriram Transport* Finance’s Q4 profit down 70% YoY & is below estimates, Jefferies maintains UNDERPERFORM rating on the co., target at Rs 500/Sh (Negative)

Nomura On *BHEL*: Maintain Reduce Rating, Target Cut To Rs 26/Sh, Cut FY22 EPS Estimate By 36% (Negative)

12)Happy trading.

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