NEW WEEK SEES HORROR IN THE MARKET

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After a long weekend, the indian stock market ended the session lower today after weak global signals. At the close, the sensex was down 1172 points to 57,166 & the nifty was down 302 points, to 17173. Approximately 1454 stocks are up, 1990 stocks are down and 135 stocks are flat. The IT stocks fell over 4%, trailed by infosys, which lost 7%, followed by mphasis, tech mahindra, mindtree and tcs. Bank nifty shed over 1% while auto, metals, fmcg and power names were bought.
Lower than expected results caused the market to worry about headwinds the IT sector is facing such as churn, wage inflation, lower utilization and IT spending cuts by industries due to geopolitical and macroeconomic issues. The magnitude of the fall is high as the sector has traded at high valuations and the risk of an outlook downgrade has increased.
IT INDEX FALLS OVER 4 %
The IT index plunged over 4%, with top IT names falling as much as 7 % lowered Infosys' margin estimates on weaker-than-expected earnings for the March quarter. At 9%, Infosys recorded the market's biggest drop since March 23, 2020. Jefferies India cut its margin estimates by 100 to 170 basis points to account for the miss and expected a 21.9% margin in FY22.
OIL PRICES HIGHER
Oil prices rose on Monday as concerns mounted over tighter global supply, with the deepening crisis in Ukraine raising the prospect of tougher Western sanctions against its biggest exporter Russia. Brent futures were up 1.3%, to $113.20 a barrel by 0030 GMT, and US West Texas Intermediate futures were up 0.9% to $107.93 a barrel. The International Energy Agency had warned that from May about 3 million barrels per day of Russian oil could be trapped due to sanctions or buyers voluntarily avoiding Russian cargoes.

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LITTLE CORRELATION BETWEEN MONSOONS & MARKET RETURNS

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In the holiday-shortened week, benchmark Indian stock indices fell nearly 2 percent amid soft global markets. However, persistently high inflation, rising bond yields and no outcome in the Russian-Ukrainian peace talks with new sanctions against Russia added to investor concerns. For the week Sensex lost 1,108.25 points 1.86% to close at 58338 while the nifty fell 308 points, down 1.73% to end at 17475. Reliance Industries lost the most market value followed by Infosys, HDFC Bank and Housing Development Finance Corporation last week. On the other hand, ICICI Bank, Sun Pharmaceutical Industries and ITC contributed most of their market value. Large IT companies such as TCS & Infosys have also encouraged their employees to come to the office physically. Do you know the work-from-home plans of the two big IT companies.

INFOSYS PHASED PLAN

Infosys started calling people to offices as early as this month. From now on, only executives will come into the office. After announcing its March 2022 quarterly results, Infosys reporters that 95% of the workforce is currently working remotely, while only 5% of senior executives are coming into the offices. The company has a three-phase plan for working from home. We already rolled out the first phase in April and in this people who are in their home locations where DCs are located or in the upstate town near the DCs are encouraged to come into the office twice a week get . We're already seeing traction on it.

HCL PLAN
Another IT major, HCL Tech. One of our top priorities is the safety and well-being of our employees and their families. We remain strongly committed to maintaining our business normality, thereby ensuring uninterrupted services to our customers. We are currently monitoring the situation and continue to work in a hybrid model HCL
Tech to report net profit at Rs. 3,304.4 crore down 4% quarter-on-quarter up 1.6%.

TARDING IDEAS FOR MONDAY LIVE MARKET ON 18 APR 2022

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The market will be closed for four consecutive days from today, according to the 2022 stock exchange holiday list available on the official BSE and NSE websites. The equity, forex and derivatives markets are closed for trading on today & tomorrow, April 14th and 15th, on the occasion of Mahavir Jayanti and Good Friday, which is a rare four day break in trading when we include the following weekend.Commodity markets, however, will only be closed for Thursday's morning session and both Friday's sessions. On Saturday  and Sunday the stock market will be closed for the regular weekly holiday. The market will resume trading on Monday April 18th.

Meanwhile, equity benchmarks erased early gains and settled lower for a third straight day on Wednesday, with the Sensex falling over 237 points, dragged lower by HDFC twins amid continued outflows from foreign funds and mixed global trends .Our markets started the week subdued on Monday on weak global signals. On the same day, the Nifty consolidated mostly showing some weakness and closed below 17,700. However, the following day we saw a decent gap opening due to some nervousness seen in global markets. Although the damage was largely limited, individual stocks still posted decent gains. A similar range bound session was observed on Wednesday to end the shortened week down almost 2% just below the 17,500 level.

MONDAY MARKET PREDICTION FOR 18 APR 2022

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The market started Wednesday's session with nominal gains even as retail inflation jumped from 6.07 %in February to a 17-month high of 6.95 %in March. After trading in the green for a period, the indices erased morning gains and traded mostly flat.

Infosys' share price rose 1 %in early trade on Wednesday (April 13) ahead of the company's fourth-quarter results to be announced later. The IT major is expected to report a 15-20 %increase in consolidated after-tax profit and 24 %growth in consolidated revenue for the quarter through March. Experts say margins should increase thanks to higher off shoring and favorable currency mixes. In addition, ramping up new stores, adding employees and visibility will remain key drivers going forward. The stock was last trading at Rs 1,748, up 0.35 %on the NSE. The stock is currently trading 10.32 % below its 52-week high of Rs 1,953.70 hit on Jan.

STOCK TO WATCH FOR TODAY 13 APR 2022

Tata Steel: The Company has completed the acquisition of a 50% stake in S&T Mining from the Steel Authority of India. It also completes the acquisition of a 90% stake in Rohit Ferro Tech.
TVS Motor: The company is acquiring Swiss e-mobility company Passion Vlo for Rs 22.83 crore. Passion Vlo is mainly engaged in the sale of electric bicycles and e-bike accessories.
Maruti Suzuki: The company said its Rohtak R&D facility, which was affected by a fire incident, is covered by an insurance policy. She appraises the damage to claim back the sum insured.
Godrej Properties: Received NCLT approval for the merger of Ceear Lifespace, a project-based special purpose vehicle that is a wholly owned subsidiary, with the Company.
ICICI Bank: Consideration of the issuance of debentures on April 23.|
UPL: UPL Pollution Control Dam in a South African chemical depot..
Wipro: Says acquisition of Convergence Acceleration is complete.
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INFOSYS RESULTS AHEAD: WHAT TO DO BUY OR SELL ?

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On Tuesday, shares of Infosys fell in line with the competition ahead of the tech majors' quarterly earnings for the January-March quarter, due Wednesday. With the exception of TCS & HCL Tech, all tech stocks in the Nifty package traded in negative territory. Infosys shares are down more than 2 % on the day, trading at Rs.1,739.45 on the NSE at the time of writing, down 1.5 % from the previous close for the quarter ended tomorrow, March 31. March 2022, and a CNBC-TV18 survey of market analysts indicated a marginal increase in the company's revenue and earnings on a sequential basis. We follow the IT sector and expect Infosys revenue to increase by 3.1% to Rs.32,867 crore versus Rs.31,867 crore in the previous quarter. Corporate profit after tax is expected to rise 2.94 % to Rs.5980 crore from Rs.5809 crore in the December quarter.
The Street expects earnings before interest and tax to come in at Rs.7,653 crore versus Rs.7,484 crore in the last quarter. According to the survey, the EBIT %age is likely to be 23.3 %, compared to 23.5 % previously. In dollar terms, we expect Infosys revenue to increase 2.7 % to $4,365 million from $4,250 million in the October-December quarter. While Infosys shares have been one of investor favorites, the stock posted earnings posting ahead of the gains. Technology company stocks have wiped out 6 % of investor wealth in the past five days and 8 % in a month. However, over the one-year period, the stock has returned more than 21 %, compared to the benchmark Nifty, which is up 22%.

We believe there will be an upside surprise from some IT companies in the coming quarters. The likelihood of this is relatively higher in the mid-range, but we are relatively more bullish on Infosys within Tier-I and within mid-tier Mphasis and Persistent Systems. Speaking of Infosys, a growth premium is visible for it and he would also pay attention to margin guidance. You have to see the growth premium; the growth premium of 100-200 basis points per second of Tier II or Mid-Tier IT over Tier I has increased to almost 10%. I think on a more sustainable basis 500-600 bps is something they can deliver. We expect Infosys to report 12-14% revenue growth guidance for FY23, similar to FY22. While Kotak and CLSA expect revenue guidance of 11-13%, consensus estimates actual revenue growth is 15-16%.