UPCOMING STOCK RESULTS CAN GIVE MARKET A BOOST

TCS  announced its results on Monday & many other IT firms like Wipro, Infosys and Mindtree will be announcing their results in the coming few days. So, it will interesting to see how these IT companies fair and the impact of the COVID-19 pandemic on them. Thus, keep a close watch on these stocks.
WIPRO- The results of this IT firm will be announced on April 15. But in the last quarter, the IT major had reported 20 % rise in consolidated net profit to Rs 2968 crore. It reported a 3% increase in revenue to Rs 15670 crore in the third quarter of FY21 compared to the same quarter last year. Thus there are expectation this quarter as well. Meanwhile, Wipro share was down to Rs 429.80 per share.

INFOSYS: Infosys is scheduled to announce its fourth-quarter results later today. The company will also consider a final dividend for FY21 along with a proposed share buyback. We expect IT companies to post robust revenue growth. Infosys share price surged 8.5% in Jan-Mar 2021, and 11% so far this year . During the quarter ended March 31, 2021, the IT stocks jumped 6.61%, as against a rise of 5% in the nifty. Earlier this week, TCS reported a 15 % on-year rise in net profit and declared a dividend of Rs 15 per share.

MINDTREE: IT firm’s results are expected on April 16, 2021. It was reported a 65.7% rise in consolidated net profit to Rs 326 crore for the December 2020 quarter. The company had posted a net profit of Rs 197 crore in the corresponding period last year, Mindtree said in a regulatory filing. So, such growth is expected this quarter as well. Mindtree was trading at around – 3%. The lowest for this stock yesterday was Rs 2,101.05 per piece. 

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METAL STOCKS CONTINUE TO SHINE ☆ ☆

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TARGET 637/640.5 SL 627"

In this year metal stocks has gained 37 % as compared to a 6 % rise in the year-ago period. It has been responsible for supporting the nifty to a great extent. 9 out of 10 stocks in the metal stocks have delivered 20-60% returns. These include nmdc, Hindustan Zinc, Vedanta, Jindal Steel & Power and JSW Steel Ltd, data collated from Ace Equity shows. Coal India was the only stock that fell over 4% during the period.

In metal stocks Momentum is likely to continue in the metal space but after a steep rally, there could be some consolidation. Investors can opt to go long in the metal space on dips. “We have been bullish on the metal sector for the last two weeks. The sector had a short-term correction in the month of March that unfolded in a channelized manner. Traders and investors need to have exposure in the metal stocks; however, they need to wait for a fresh setup to take a fresh entry. Metal sector has been the dark horse and is also one of the leading sectors responsible for supporting the Nifty to a great extent. However, the risk-to-reward ratio is not favorable for entering fresh longs here. The bias for metal sectors is still positive and one can look to enter longs on dips or a minor correction for another three-five percent upside.
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NIFTY ON THE CLOUD👍 PHARMA ON THE GROUND👎

On an auspicious day today we saw a partial reversal of the speculative unwinding witnessed yesterday. Today nifty ended near the day's high level  above 14500 led by the  auto, metal, financial and energy stocks. Bulls regained the momentum in afternoon trade as the see-saw battle between the Virus & Vaccine tilted towards the latter with the approval of the third vaccine. The dovish stance of the RBI gained over inflation in the minds of investors as we saw investor interest in BFSI. The broader markets though did see profit-taking in IT & pathology names today. IT sector broke the trend due to profit booking as initial Q4 results were in line with expectations not providing enough leeway to a highly valued sector. While Industrial production for February declined by 3.6% primarily due to contraction in the manufacturing and mining sectors. 

March quarter earnings and record deal wins could not make the IT stock rally, even when the numbers broadly met or were slightly ahead of Street estimates While we suggest to stayed positive on TCS' growth prospects, we see limited earnings upgrades for the stock from here on due to lack of positive surprises and expensive valuations. The Tata group company declared a final dividend of Rs 15 per share, taking its total dividend payout for FY21 to Rs 38 per share.TCS reported Rs 9282 crore in profit and Rs 44636 crore revenue in the last quarter of the year ended March 31.
TOP GAINER- M&M, TATAMOTORS, MARUTI,HDFC,JSWSTEEL
TOP LOSERS - TCS, DRREDDY,TECHM, WIPRO & DIVISLAB

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WILL TCS MAINTAIN LEAD OVER IT FELLOW ?

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As the IT services sector looks poised to continue with its trailblazing journey in the March quarter of the financial year 2020-2021 ,We expect The Tata Group crown jewel TCS  to maintain its leadership position in the space in terms of revenue growth and margin expansion. TCS expected to achieve this feat aided by certain large deals such as Post bank and Prudential Financial. Now strong Hopes of a strong quarterly performance were visible in the stock price movement. The scrip jumped 11% for the  IT stocks three months ended March 2021 and has risen nearly 16% on a year-to-date basis.This is against a 5 % rise in Nifty & a gain of 6% in the IT stocduring the March quarter.

Keeping with the past trend, the firm, which is slated to post its Q4 numbers on April 12, is unlikely to give any guidance, although it could call out the current pandemic as a key catalyst for the third wave of outsourcing. It may also express confidence on comfortable double-digit growth and sustained profitability.
We expect TCS to report a 9 % year-on-year growth in revenue for the March quarter, led by the above-mentioned factors. The revenue could rise by 4.9 %  quarter-on-quarter  in dollar terms and 4.5% in constant currency terms.
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STEEL BECOMING PILLAR FOR NIFTY!!!!

CONSUMER STOCKS

In upcoming days we will see very decent volume growth, particularly from the Q4 perspective. Given that we are in a semi lockdown situation, in certain pockets like Britannia, HUL and Marico, the volume growth could be a little better. Overall, though we do not expect a very strict lockdown, this thing really can’t be allowed to go out of hand. But in any case, we have a very positive outlook for companies like Britannia, Tata Consumer and HUL even otherwise. From a one year perspective, these stocks can give a decent amount of upside from current price point.

HIKE IN STEEL STOCKS

This quarter is all about metal and the general Street consensus is that there is going to be a lot of room for a positive surprise. One thing which we have to bear in mind is that in case of metals, for most of the companies, the EBITDA growth will come from higher pricing. The only company which would deliver a very strong double digit volume growth would be JSW Steel. But we think that from a short-term perspective, Tata Steel can give a good amount of positive surprise but from investment perspective, we prefer SAIL, JSPL and JSW Steel because these companies have a larger story in terms of debt repayment and much better upgrades post Q4, the overall environment being better in India.

BHARTI AIRTEL & RELIANCE

In case of Reliance we have already seen a big outperformance and it was one of the best performing stocks from April till December 2020. After that, the stock is consolidating as we are not seeing any incremental growth triggers on the telecom part and a large part of the story in terms of retail and the OTC has been known. So the market is just trying to see some sort of a consolidation till we see fresh triggers in terms of the earnings growth for the next one or two quarters.Unlike Reliance, Bharti has not been able to attract any major global investors and it continues to remain a very slow moving telecom play with no price increase. So after some point people have got a little frustrated with the fact that we are not going to see any meaningful earning growth at least in the near term. So the stock has correspondingly underperformed. But we think that telecom is not a short term or two quarter story. So people who have let us say one or two year kind of timeframe should definitely look at allocating a good amount of money into both Reliance and Bharti because a decent amount of growth will come through in earnings over next two years.
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MARKET DECLINED DUE TO RISE IN CORONA CASES

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Last week, market jumped 2% rejuvenated by the buying interest post-stimulus package announcement in the us. Last week sensex added 1021 points to end at 50029 &nifty rose 360 points, to close at 14867 levels while this week market started on a negative note for the mainly due to sharp surge in covid-19 cases across the country. Despite, stable global cues, the indian indices lost its ground and ended with losses of nearly 1.5% to end at 14638 levels. The sharp surge in covid-19 cases has dented investor sentiments and has increased fear of harsh restrictions which would impact economic activity. The upcoming q4 fy21 earnings season will begin in a week’s time, so investors’ focus will be shifting back to fundamentals. This time investors’ expectations are rife for a strong earnings season led by healthy demand recovery and low base effect. On the earnings front, revenue growth, margins expansion and management commentary will be key things to watch out. Further, the upcoming rbi monetary policy would be actively tracked by investors. We expect the rbi to maintain its dovish stance and leave key rates to be unchanged.
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