Business in the Week Ahead in India: Australia and UK Rate Decision, India PMI, UK GDP etc. in Focus.

Business in the Week Ahead in India: Central banks of Australia and UK will decide interest rate direction, with three IPOs set to open for subscription, and final PMIs and earnings will be tracked.

The US Federal Reserve kept interest rates steady on May 1, citing limited inflation progress. The timing of a rate cut is uncertain. Australia and the UK’s central banks will decide on interest rates separately next week.

TBO Tek, Aadhar Housing Finance, and Indegene’s IPOs will open for subscription in primary markets. Major companies like Lupin, Marico, and ABB India are set to release their Q3 2024 earnings results.

Monday – May 07

India Final PMIs: The India Composite flash PMI increased to the highest level in more than a decade in April. Final data for the month will be released.

China Services PMI: The Caixin General Services PMI increased for the first time in three months in March. Data for April will be updated.

IPO: Indegene’s IPO will be open for subscription, with a fixed price band of Rs 430-452 per equity-share.

Earnings:- Lupin, Marico, Godrej Consumer Products, Cartrade Tech, Grindwell Norton, Happiest Minds Technologies, Suven Life Sciences, Indian Bank

Tuesday – May 08

Australia Interest Rate Decision: The Reserve Bank of Australia is likely to leave interest rates unchanged. The central bank held its cash rate at 4.35 percent in March meeting.

Earnings:- Dr. Reddy’s Laboratories, Voltas, Pidilite Industries, IDFC, IRB Infrastructure Developers, PB Fintech, Indraprastha Gas, JSW Energy, KEC International, Latent View Analytics, SRF

Wednesday – May 09

US Crude oil Inventories: Crude oil inventories in the US increased at a fastest pace in two months in the week ending April 26. Data for the period ending May 3 will be released.

IPO:- TBO Tek and Aadhar Housing Finance are set to launch their IPOs, which will include a mix of new equity shares and offers for sale from promoters and existing investors.

Earnings:  Hero MotoCorp, Larsen & Toubro, TVS Motor Co, Bharat Forge, Tata Power Co, Canara Bank, Piramal Enterprises, Vijaya Diagnostic Centre

Thursday– May 10

China Exports, Imports: Exports from China are projected to improve in April after declining more than expected in March. Imports data will also be released.

UK Interest Rate Decision: The Bank of England is likely to keep interest rates unchanged. In the March meeting the central bank maintained the bank rate at 5.25 percent.

US Jobless Claims: The number of Americans claiming unemployment benefits remained stable in the week ending April 27. Data for the period ending May 4 will be released.

Earnings: State Bank of India, Asian Paints, Bharat Petroleum Corp, Escorts Kubota, Gopal Snacks, Hindustan Petroleum Corp, Quess Corp, V.S.T Tillers Tractors

Friday – May 11

India Industrial Production: Industrial output may gather pace in March. In February, industrial production rose by 5.7 percent.

UK GDP: The UK economy is projected to return to growth path in March quarter after contracting by 0.2 percent on a year-on-year basis in the December 2023 quarter.

Earnings: Cipla, Tata Motors, ABB India, Thermax, Bank of Baroda, Bank of India, Union Bank of India, Piramal Pharma, Kalyan Jewellers, Sharda Cropchem

Saturday – May 04

Earnings: Kotak Mahindra Bank

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