NET PROFIT 16.66B RUPEES VS 26.2B (YOY); 10.58B (QOQ)
REVENUE 187B RUPEES VS 158B (YOY); 155.02B (QOQ)
EBITDA 33.23B RUPEES VS 30.7B (YOY)
EBITDA MARGIN 17.90% VS 19.5% (YOY)
CO RECOMMENDED A FINAL DIVIDEND OF 38 RUPEES PER SHARE
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Friday, April 28, 2023
SBI CARDS AND PAYMENT SERVICES Q4 RESULTS
SBI CARDS AND PAYMENT SERVICES Q4 RESULTS
NET PROFIT 5.96B RUPEES VS 5.80B (YOY); 5.09B (QOQ)
INTEREST INCOME 16.72B RUPEES VS 12.7B (YOY); 16B (QOQ)
GNPA 2.35% VS 2.22% (QOQ)
NNPA 0.87% VS 0.80% (QOQ)
CO RECOMMENDED A FINAL DIVIDEND OF 2.50 RUPEES PER SHARE
VEDANT FASHION Q4 RESULTS
VEDANT FASHION Q4 RESULTS
CONS NET PROFIT 1.09B RUPEES VS 887M (YOY); 1.50B (QOQ) ||
REVENUE 3.42B RUPEES VS 2.96B (YOY); 4.41B (QOQ)
Q4 EBITDA 1.68B RUPEES VS 1.44B (YOY) ||
Q4 EBITDA MARGIN 49.12% VS 48.61% (YOY)
CO RECOMMENDED A FINAL DIVIDEND OF Rs9/share
ACC Q4 RESULTS
ACC Q4 RESULT
NET PROFIT 237 CR VS 392CR (YOY); EST 289CR | 110 CR (QOQ)
REVENUE 4791CR VS 4427 CR (YOY); 4537 CR (QOQ)
EBITDA 466 CR VS 634 CR (YOY); EST 540 CR
EBITDA MARGIN 9.73% VS 14.32% (YOY); EST 11.7%
CO RECOMMENDED A DIVIDEND OF 9.25 RUPEES PER SHARE
WIPRO BIG SIZE Tender Buyback
WIPRO BIG SIZE Tender Buyback Approved
Buyback Price : 445 ₹
Today's Closing Price : 374.40 ₹
Buyback Size ₹ : 12,000 Crore
Buyback Size in Share : 26,96,62,921 Shares
Retail Quota : 4,04,49,439 Shares
Record Date for Eligibility : To Be Announced
Bajaj Holdings Q4 Result
Bajaj Holdings Q4 Result
-Profit up 22.4% at ₹1,352.8 cr vs ₹1,105 cr (YoY)
-Revenue down 3.1% at ₹86.7 cr vs ₹89.5 cr (YoY)
-Board recommends final dividend of ₹13/sh for #FY23
Thursday, April 27, 2023
LTI MINDTREE Q4 RESULTS
LTI MINDTREE Q4 RESULTS
CONS NET PROFIT 11.13B RUPEES VS 10.01B (QOQ); EST 11.53B | 11.09B (YOY)
REVENUE 86.91B RUPEES VS 86.2B (QOQ); 71.29B (YOY)
EBITDA 14.21B RUPEES VS 11.97B (QOQ); EST 14.12B
EBITDA MARGIN 16.41% VS 13.90% (QOQ); EST 16%
EBITDA 16.04B RUPEES VS 13.78B (QOQ)
dividend declared Rs 40/share
U.S GDP (QOQ) (Q1) ACTUAL
*U.S GDP (QOQ) (Q1) ACTUAL: 1.1% VS 2.6% PREVIOUS; EST 1.9%* 🚨🚨🚨🚨
U.S INITIAL JOBLESS CLAIMS ACTUAL: 230K VS 245K PREVIOUS; EST 248K
U.S CONTINUING JOBLESS CLAIMS ACTUAL: 1858K VS 1865K PREVIOUS; EST 1870K
Money is a tool.Freedom is the goal
Money is a tool.
Freedom is the goal.
Years when we have all of below freedoms, we have the superpower.
1. Physical
2. Mind
3. Social
4. Financial
Think about it. Build your goals.
The meaning of life is to find the purpose.
The purpose of life is to give it away.
WIPRO Q4 RESULTS
WIPRO: Q4
CONS NET PROFIT 30.75B RUPEES VS 30.53B (QOQ); 30.87B (YOY)
REVENUE 231.9B RUPEES VS 232.29B (QOQ); EST 233B | 208.6B (YOY)
EBIT 36.59B RUPEES VS 36.27B (QOQ)
EBIT MARGIN 15.78% VS 15.61% (QOQ)
CO SAYS SEES Q1 REV FROM IT SERVICES IN RANGE OF $2,753M TO $2,811M
NSE Dividends : Current & Upcoming
NSE Dividends : Current & Upcoming:
Thyrocare Technologies Ltd
Dividend: 18 Rs
Dividend Type: Interim
Ex date: 20 April 2023
Record Date: 20 April 2023
E.I.D.-PARRY (INDIA) LTD
Dividend: 4 Rs
Dividend Type: Interim
Ex date: 21 April 2023
Record Date: 21 April 2023
MOLD-TEK TECHNOLOGIES LTD
Dividend: 2 Rs
Dividend Type: Interim
Ex date: 21 April 2023
Record Date: 21 April 2023
Mold-Tek Packaging Limited
Dividend: 4 Rs
Dividend Type: Interim
Ex date: 21 April 2023
Record Date: 21 April 2023
NESTLE INDIA LTD
Dividend: 27 Rs
Dividend Type: Interim
Ex date: 21 April 2023
Record Date: 21 April 2023
NESTLE INDIA LTD
Dividend: 75 Rs
Dividend Type: Final
Ex date: 21 April 2023
Record Date: 21 April 2023
VESUVIUS INDIA LTD
Dividend: 8.25 Rs
Dividend Type: Final
Ex date: 26 April 2023
Record Date: 26 April 2023
ABB India Limited
Dividend: 5.5 Rs
Dividend Type: Normal
Ex date: 27 April 2023
Record Date: 27 April 2023
HCL TECHNOLOGIES LTD
Dividend: NA Rs
Dividend Type: Interim
Ex date: 28 April 2023
Record Date: 28 April 2023
JINDAL STAINLESS LTD
Dividend: 1 Rs
Dividend Type: Special
Ex date: 28 April 2023
Record Date: 28 April 2023
KSB Ltd
Dividend: 15 Rs
Dividend Type: Final
Ex date: 28 April 2023
Record Date: 29 April 2023
Sanofi India Ltd
Dividend: 194 Rs
Dividend Type: Final
Ex date: 28 April 2023
Record Date: 28 April 2023
Sanofi India Ltd
Dividend: 183 Rs
Dividend Type: Special
Ex date: 28 April 2023
Record Date: 28 April 2023
ABB India Limited
Dividend: 5.5 Rs
Dividend Type: Normal
Ex date: 27 April 2023
Record Date: 27 April 2023
HCL TECHNOLOGIES LTD
Dividend: 18 Rs
Dividend Type: Interim
Ex date: 28 April 2023
Record Date: 28 April 2023
JINDAL STAINLESS LTD
Dividend: 1 Rs
Dividend Type: Special
Ex date: 28 April 2023
Record Date: 28 April 2023
KSB Ltd
Dividend: 15 Rs
Dividend Type: Final
Ex date: 28 April 2023
Record Date: 29 April 2023
Sanofi India Ltd
Dividend: 194 Rs
Dividend Type: Final
Ex date: 28 April 2023
Record Date: 28 April 2023
Sanofi India Ltd
Dividend: 183 Rs
Dividend Type: Special
Ex date: 28 April 2023
Record Date: 28 April 2023
ELANTAS BECK INDIA LTD
Dividend: 5 Rs
Dividend Type: Normal
Ex date: 2 May 2023
Record Date: 2 May 2023
STOVEC INDUSTRIES LTD
Dividend: 47 Rs
Dividend Type: Final
Ex date: 2 May 2023
Record Date: 2 May 2023
CASTROL INDIA LTD
Dividend: 3.5 Rs
Dividend Type: Final
Ex date: 4 May 2023
Record Date: 4 May 2023
CRISIL LTD
Dividend: 7 Rs
Dividend Type: Interim
Ex date: 4 May 2023
Record Date: 4 May 2023
TATA COFFEE LTD
Dividend: 3 Rs
Dividend Type: Normal
Ex date: 15 May 2023
Record Date: 15 May 2023
G.M.BREWERIES LTD
Dividend: 6 Rs
Dividend Type: Final
Ex date: 16 May 2023
Record Date: 16 May 2023
HDFC Bank Ltd
Dividend: 19 Rs
Dividend Type: Final
Ex date: 16 May 2023
Record Date: 16 May 2023
Tata Consumer Products Ltd
Dividend: 8.45 Rs
Dividend Type: Final
Ex date: 19 May 2023
Record Date: 19 May 2023
INFOSYS LTD
Dividend: 17.5 Rs
Dividend Type: Final
Ex date: 2 June 2023
Record Date: 2 June 2023
AXIS BANK Q4 RESULTS
AXIS BANK Q4 RESULTS
NET LOSS 57.28B RUPEES VS PROFIT 41.18B (YOY); EST LOSS 57.39B | PROFIT 58.53B (QOQ)
INTEREST EARNED 239.69B RUPEES VS 177.76B (YOY); 222.26B (QOQ)
GNPA 2.02% VS 2.38% (QOQ)
NNPA 0.39% VS 0.47% (QOQ)
PROVISIONS 30.58B RUPEES VS 14.38B (QOQ)
NIM 4.22% VS 4.26% (QOQ)
CO HAS AN EXCEPTIONAL ITEM OF 124.90B RUPEES
BANK CASA RATIO AT 47% VS 45% (YOY)
CO RECOMMENDED A DIVIDEND OF 1 RUPEES PER SHARE
CO SAYS APPROVED BORROWING IN INDIAN/FOREIGN CURRENCY BY DEBT SECURITIES FOR UP TO 350B RUPEES
WIPRO BUYBACK UPDATE
*WIPRO BUYBACK UPDATE*
Wipro Board announces it Buyback Offer through tender route.
• *Record date will be announced after Postal Ballot.*
• *BB Size : Rs.12,000/- CR.*
• *BB Price : Rs.445/- per sh.*
Today's Market 27/04/2023
Today's Market
US Market
Nasdaq = +55.19
Dow Jones = -228.96
European
Ftse 100 = -38.49
Cac 40 = -64.95
Dax = -76.40
Asian
Nikkei 225 = -84.59
Straits Times = -9.19
Hang Seng = +14.56
Taiwan weighted = -16.25
Kospi = -4.38
SGX Nifty = 17797.50(-32)
On 26th April
Fii buys 1257.48 crore stocks
Dii sells 227.88 crore stocks
Good News :
1. Bajaj Finance profit rise 30.5%
2. Hdfc Life profit rise 0.3%
3. SBI Life profit rise 15.57%
4. L&T tech profit rise 2%
5. Wipro going to buyback shares
6. Indus tower profit rise from -Rs708 to Rs1399 crore
7. Welspun India going to buyback shares
8. Syngene profit rise 20.9%
9. Canfinhomes profit rise 35%
10 Cummins deal with Tata motors for Low to zero emissions products
11. Govt give RVNL as Navratan
12. Central Bank going to raise funds
Bad News:
1. Crude price reach $78 due to recession expected
2. First Republic Bank fall 30% more due to Banking Problem
3. Voltas profit decline 22%
Other News:
1. Result today: Axis Bank, Hindustan Unilever, Bajaj Finserve, Tech Mahindra, Wipro, Acc, IHCL, LTI Mindtree, Laurus Lab, Trent
2. Manking IPO Subscribed 88% on 2nd Day
3. Last day of Honeywell in F&O today
4. Right issue of PNB housing closing today
5. Bajaj Electric and Edelweiss will exit from Nifty 500 from tomorrow
6. Eris Lifescience and Nmdc Steel will enter into Nifty 500 from tomorrow
Chemical, Pharma, Auto ancillary and Electric Equipment stocks will go upside today
VOLTAS: Q4 RESULTS
VOLTAS: Q4
CONS NET PROFIT 1.44B RUPEES VS PROFIT 1.83B (YOY); EST 1.9B | LOSS 1.10B (QOQ)
REVENUE 29.57B RUPEES VS 26.67B (YOY); 20.05B (QOQ)
EBITDA 2.18B RUPEES VS 2.6B (YOY); EST 2.66B
EBITDA MARGIN 7.36% VS 9.95% (YOY); EST 9%
CO RECOMMENDED A FINAL DIVIDEND OF 4.25 RUPEES PER EQUITY SHARE
Wednesday, April 26, 2023
UTI AMC: Q4 RESULTS
UTI AMC: Q4
SL NET PROFIT 983.5M RUPEES VS 746M (YOY); 1.08B (QOQ)
REVENUE 2.63B RUPEES VS 2.6B (YOY); 2.81B (QOQ)
CO RECOMMENDED A FINAL DIVIDEND OF 22 RUPEES PER EQUITY SHARE
SYNGENE INTERNATIONAL: Q4 RESULTS
SYNGENE INTERNATIONAL: Q4
CONS NET PROFIT 1.79B RUPEES VS 1.48B (YOY); 1.10B (QOQ)
REVENUE 9.94B RUPEES VS 7.6B (YOY); 7.86B (QOQ)
EBITDA 3.14B RUPEES VS 2.5B (YOY)
EBITDA MARGIN 31.59% VS 33.02% (YOY)
CO RECOMMENDED A FINAL DIVIDEND OF 1.25 RUPEES PER EQUITY SHARE
SBI LIFE INSURANCE: Q4 RESULTS
SBI LIFE INSURANCE: Q4
SL NET PROFIT 7.77B RUPEES VS 6.7B (YOY); 3.1B (QOQ)
NET PREMIUM INCOME 198.97B RUPEES VS 174.3B (YOY); 191.7B (QOQ)
CO RECOMMENDED A FINAL DIVIDEND OF 2.50 RUPEES PER EQUITY SHARE
Tuesday, April 25, 2023
TATA CONSUMER Q4 RESULTS
TATA CONSUMER Q4FY23
CONS NET PROFIT UP 23.5 % AT 268 CR (YOY), DOWN 23 % (QOQ)
REVENUE UP 14 % AT 3618 CR (YOY) ,UP 4 % (QOQ)
EBITDA UP 15 % AT 511 CR (YOY),UP 13 %(QOQ)
MARGINS AT 14.1 % V 14% (YOY),13.05 % (QOQ)
RECOMMENDS ₹8.45 AS FINAL DIVIDEND
AU SMALL FINANCE BANK Q4 RESULTS
AU SMALL FINANCE BANK Q4 SL
NET PROFIT 425 CR VS 346 CR (YOY); EST 400 CR , 393 CR (QOQ)
INTEREST EARNED 2275 CR VS 1667 CR (YOY); 2118 CR (QOQ)
GNPA 1.66% VS 1.81% (QOQ)
NNPA 0.42% VS 0.51% (QOQ)
PROVISIONS 41 CR VS 33 CR (QOQ)
CO RECOMMENDED FINAL DIVIDEND OF 1 RUPEES PER SHARE
Derivatives update 25/04/2023
*Derivatives update*
Good morning !!
Tuesday, 25th April 2023.
India VIX was up by 0.32% from 11.63 to 11.66 levels. Volatility spiked above 12 zones but later sunk and has overall has dried up to consistently hover at its lower zones.
Nifty *Put/Call Ratio* (OI) increased from 0.93 to 1.13 level.
On Option front, Maximum Call OI is at 18000 then 17800 strike while Maximum Put OI is at 17700 then 17600 strike. Minor Call writing is seen at 17800 then 17900 strike while Put writing is seen at 17700 then 17600 strike.
*Option data suggests a shift in trading range in between 17500 to 18000 zones while an immediate trading range in between 17600 to 17900 zones*
For weekly Bank Nifty, Maximum Put OI is at 42500 then 42000 strike and maximum Call OI is placed at 44000 then 43000 strike. We have seen Call writing 42700 with unwinding at 42300 and significant Put writing is witnessed at 42500 strike.
Bank Nifty Put Call Ratio increased from 0.78 to 1.25. Implied volatility rose from 13.2 to 13.8 levels.
Bank Nifty (CMP 42,635.75)
Data setup for Bank Nifty suggests a trading range in between *42000/42250 to 43000/43200 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call selling and put buying in index options and short built up in stock futures.
In the cash market, FIIs were net sellers to the tune of 412 crores while DII’s were net buyers worth 1177 crores. FIIs Index Long Short Ratio increased to 43.79%.
Derivatives data and price set up suggests, Nifty needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones while on the downside supports are placed at 17620 and 17550 marks.
Bank Nifty has to hold above 42500 zones for an up move towards 43000 then 43200 levels while on the downside support shift higher 42250 then 42000 zones.
Thank you. Have a great trading day ahead..!!
Pre-Market Derivatives and Technical Set-up
*Pre-Market Derivatives and Technical Set-up*
◆ Nifty index opened gap up above 17700 zones and after an initial dip in the first hour of the session, it was followed by consolidation and a rise in the second half. Bulls showed their strength and took the index above to 17750 zones. It managed to close on a strong note near it’s day’s high after the consolidation of the last three sessions and closed with gains of around 120 points. It formed a Bullish candle on daily frame with longer lower shadow indicating support based buying
◆ Now it needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones while on the downside supports are placed at 17620 and 17550 marks
◆ India VIX was up by 0.32% from 11.63 to 11.66 levels. Volatility spiked above 12 zones but later sunk and has overall has dried up to consistently hover at its lower zones
◆ On Option front, Maximum Call OI is at 18000 then 17800 strike while Maximum Put OI is at 17700 then 17600 strike. Minor Call writing is seen at 17800 then 17900 strike while Put writing is seen at 17700 then 17600 strike. Option data suggests a shift in trading range in between 17500 to 18000 zones while an immediate trading range in between 17600 to 17900 zones
◆ Bank Nifty opened on a positive note with gains of 300 points but remained consolidative in a narrow range of 150 points between 42300 to 42450 zones in the first half of the session. It witnessed good momentum in latter part of the session and extended the move towards 42700 levels. It formed a Bullish candle on daily scale as strong momentum was seen in banking space and it ended the day with gains of nearly 520 points. It gave a Symmetrical Triangle breakout on daily scale and has relatively outperformed the broader market
◆ Now it has to hold above 42500 zones for an up move towards 43000 then 43200 levels while on the downside support shift higher 42250 then 42000 zones
◆ Bullish setup in Tataconsum, IDFC First Bank, OFSS, L&TFH, Can Fin Homes, Can Bank, Colpal, Bank Baroda, SBIN, Titan, Axis Bank, Rec Ltd, ICICI Bank, IDFC, Lupin, Nestle Ind, HDFC, Poly Cab, SRF and Bajaj Auto
◆ Bearish setup in Lauras Labs, ZEEL, PVR, Voltas, Cipla, DIXON, Maruti and Bhartiartl
News and Impact 25/04/2023
News and Impact
· Expects market to on a positive note on account of global cues and strong domestic factors. Impressive quarterly results, domestic bond yield fell to 7-month low, strong domestic buying interest and slowing down FIIs selling and technically Nifty formed a bullish candle on daily frame which will be positive for the market. SGX Nifty is up quarterly after yesterday Sensex reclaim above 60000 level yesterday. Among the global markets, US stocks ended on a mixed bag on Monday with investors looking ahead to a week of earnings from technology companies (Microsoft, Alphabet, Amazon.com and Meta) and a batch of economic data that will help determine whether the Federal Reserve can pause its interest-rate increases soon. US bond yield fell to 1-month low and Dollar Index fell to 2-week low on hope of US Fed to cooling down its aggressive stance on hike in interest rate in the next monthly policy meeting. Microsoft, Alphabet, General Motor and Pepsi to announce quarterly results today. In the domestic front, expects stock specific action in the market. Banking stocks will be focus as Bank Nifty gave a Symmetrical Triangle breakout on daily scale has relatively outperformed the broader market. Moreover, yesterday, 10-year government bond yield fell to 7-month low, which will be positive for banking sectors. PSU Banks will be focus after small cap PSU Bank major Bank of Maharashtra announced strong Q4 results. Expects rally on railway stocks to continue due to Govt. capex allocation for the railway sector is up 14-15% y/y for current financial year. Focus on sugar and Coffee stocks as raw sugar and Coffee price spiked to 11-year and 12-year high in the international market. Focus on FMCG stock after the Coca-Cola chairman James Quincey yesterday told analyst meeting in US that he sees strong growth in India and robust consumption.
· US Market – U.S. stocks closed mixed on Monday as investors stay wary ahead of the earnings reports of big technological companies this week. Dow Jones gained 0.2% while Nasdaq Compote decline 0.3%.
· US listed - First Republic Bank – Stock declined 20% in the post market in US after the news that that its customers withdrew more than $100 billion (nearly $140bn) while earlier expectation was $100bn.
· Global market summary – US 10-Year and 2-Year bond Yield fell by 10bps or 2% to close 1-month low. US Dollar Index fell to 2-week low
· Asian Market – Most stocks in Asia gained and the dollar weakened as investors digested mixed corporate earnings and economic data. Shares opened higher in Japan amid optimism about corporate earnings, and were little changed in South Korea. Hong Kong Index slipped 0.3%.
· European Market – European stock markets were marginally lower in Monday trading. France, UK and Germany Index ended flat to negative. The European Central Bank published the third progress report on the digital euro Monday, including the findings of focus groups commissioned by the central bank concerning the public's views on the features of a potential digital wallet.
· Oil – Brent Crude gained 2% to above $82/bbl with an uncertain demand outlook being partially offset by disruptions to supply from Iraq.
· Gold – Gold gained 1% to above $2000/ounce, as the dollar weakens on investors' growing expectation for a Fed rate cut
· Previous Day market update – Equity benchmark Sensex climbed up over 400 points to close above 60k psychological level after better than expected quarterly results announced by heavyweights ICICI Bank, Reliance Industries. Further, downward movement in the crude oil prices and fall in USDINR to below 82 level boosted the sentiments. Banking, FMCG and IT stocks were major gainers today. Sensex jumped 401 points or 0.70 per cent to reach the 60,000-level and closed the session at 60,056 Nifty ended at 17,743, up 119 points or 070 per cent. HDFC Life, Tata Consumer, Ultratech Cement, ICICI Bank and HDFC were major gainers among the Nifty stocks while Maruti, Dr Reddy, Divi’s Lab and Indusind Bank were major losers. FIIs were net sellers Rs412cr while DIIs were net buyers Rs1177cr Yesterday.
· Nifty Technical Levels - Nifty formed a Bullish candle on daily frame with longer lower shadow indicating support based buying. Now it needs to hold above 17717 zones to witness an up move towards 17777 and 17850 zones while on the downside supports are placed at 17620 and 17550 marks.
· Bank Nifty Technical Levels – Bank Nifty formed a Bullish candle on daily scale as strong momentum was seen in banking space and it ended the day with gains of nearly 520 points. It gave a Symmetrical Triangle breakout on daily scale and has relatively outperformed the broader market. Now it has to hold above 42500 zones for an up move towards 43000 then 43200 levels while on the downside support shift higher 42250 then 42000 zones.
· Actionable BUY –Bank of Baroda, BHEL, Varun Beverage and L&T
· Brokers Radar – Indusind Bank – CLSA TGT at 1500, Morgan Stanley TGT at 1525, Goldman Sachs TGT at 1522, Jefferies TGT at1550, Macquarie TGT at 1510, Citi TGT at 1380. Macro Tech Developers (Lodha) – CLSA TGT at 1048, JP Morgan TGT at 1050 from 1100. Ashok Leyland – HSBC TGT at 145, HDFC Life TGT by Morgan Stanley – Morgan Stanley TGT 650 and Citi TGT at 595
· Events – Mankind IPO open today with price band between Rs1026 to 1080, Asian Grinato board meeting for fund raising.
· Results – Anant Raj, Au Small Finance, Bajaj Auto, Dalmia Bharat, HDFC AMC, Mahindra CIE, Mahindra Life, Mahindra Holiday, Nestle, Nippon Life, Rallis India, Tata Consumers, Tata Steel Long and VST Industries
· Corporate Action - Goyal Aluminum - Stock split from Rs10 to Re1. Achyut Healthcare bonus 1:2
· Global Data – Consumer Confidence, New Home Sales (US), Business Optimism (UK), Consumer Confidence (France).
· Market Summary – IndusInd Bank promoters get in-principal approval to raise stake in co – CEO , Ipca Seeks Control of Smaller Rival Unichem in $224 Million Deal , Adani Group Starts First Bond Buyback After Hindenburg Woes, Cyient to focus actively on India: CEO Karthikeyan Natarajan, Ami Organics to Acquire Majority Stake in Baba Fine Chemicals. Infosys, Aramco in accord to collaborate on HR Technology
· Induind Bank- Promoters of India's IndusInd Bank have received in-principal approval from the country's central bank to increase their stake in the private lender, the bank's chief executive said on Monday. – positive
· Poonawalla Fincorp: Ratings agency Crisil has upgraded its rating on the long-term bank facilities and non-convertible debentures of the company to 'CRISIL AAA/Stable' from 'CRISIL AA+/Stable’. - positive
· Coca-Cola sees strong growth in India, chief lauds resilient economy - India’s economy is resilient and it has a strong job market and robust consumption, James Quincey, chairman and chief executive officer of Coca-Cola, told analysts in his opening remarks after announcing the January-March quarter earnings – expects positive for Varun Beverage.
· JSW Steel - JSW Group in talks with MG Motor India to pick up under 25% stake in the company
· Infosys, Aramco in accord to collaborate on HR Technology – Company announced that it signed a Memorandum of Understanding (MoU) with Aramco, one of the world's leading integrated energy and chemicals companies, to collaborate on accelerating their human resource (HR) technology - Positive
· M&M – Company announcement of the Rs1000cr investment in Telangana that M&M announced in February 2023. With this new facility, the company aims to build a state-of-the art battery assembly line, producing power packs and manufacture electronic as well as drivetrain components for electric 3- and 4-wheelers. Mahindra Bolero SUV breaks sales record: surpasses 1 lakh mark in FY 2023 – positive
· Welspun India – Company to consider share buy-back on April 27 board meeting - Positive
· Crompton Greaves Consumers – Company names Promeet Ghosh as MD and CEO. Company’s CEO Mathew Job resign from April 30 – expects volatile on the stock
· Computer Age Management Services (CAMS) – Company has signed on 75 Alternative Investment Funds (AIF) & Portfolio Management Services (PMS) enterprises since its launch last year to provide smooth digital experience for High Net-worth customers. – positive
· LTTS – LIC of India's (LIC) shareholding in "L&T Technology Services Ltd." has increased from its shareholding from 4.988% to 5.008% of the paid-up capital of the said Company. – Positive
· Mahindra Lifespace – Company to red-develop residential property of 3.68 acre - positive
· Vedanta Resources Pays April Debt; Cutting Gross Debt to $6.8b - Vedanta Resources has paid all its maturing loans and bonds due in April 2023 and has reduced its gross debt by a further $1b to to $6.8b. During the balance of FY24, company believes that strong operational performance with robust commodity prices will lead to further de-leveraging - Positive
· Cyient to focus actively on India: CEO Karthikeyan Natarajan - Technology solutions company Cyient will actively focus on Indian market in the next 3-4 years on the basis of the growth opportunities across segments such as communications, transportation, and new-age verticals like medical, semiconductor, hi-tech, and automotive, etc, the company's chief executive officer Karthikeyan Natarajan told FE in an interaction.- positive
· Route Mobile – Company launches Route Guard, an innovative blockchain based AI and ML solution, with advanced security features to prevent spamming and phishing attacks. - positive
· IPCA Labs – . Company agreed to buy a stake in Unichem Lab stake of 33.38% equity at Rs440 (CMP Rs388) a share worth Rs1030cr from one of its founders, and made an open offer for further shares as the Indian drug maker looks to expand its product range in select markets. The firm also made an open offer for as much as 26% more worth Rs805cr of Unichem shares at the same price per share. – positive
· Ajmera Realty – Company has acquired a land parcel measuring 5,017 sq. mtrs. in Vikhroli East in Mumbai from Tata Communications in a bidding process at a price of Rs 76 crore – positive
· Century Textiles – Company’s real estate arm of the Aditya Birla Group housed acquired prime land parcel in South Mumbai’s upmarket residential area of Walkeshwar at Malabar Hill. The luxury project will hold a revenue potential of over Rs 600 crore. – positive
· Bharti Airtel - Company partnered with Secure Meters to deploy Narrow Band (NB-IoT) services that will power 1.3 million homes in Bihar through a smart meter solution. This will be India’s first NB-IoT service with a fall-back option of 2G and 4G to ensure continuous connectivity. – positive
· Wardwizard Innovations – Major electric two-wheelers under the brand name "Joy e-bike', commenced the deliveries of their New electric two wheeler MIHOS and electric three wheeler Joy e-rik in the phased manner across Gujarat and Maharashtra with price range Rs3,40,000 (ex-showroom) – positive
· Maruti Suzuki - Company starts retail sales of its new sporty compact SUV, FRONX, from NEXA at a starting price of Rs7 46 500. Conceptualized, designed, and developed for young trailblazers, the FRONX stands out with its modern SUV design, spirited performance, and a tech-loaded premium persona. – positive
· Nykaa – Company announces new senior appointments to drive its Next Phase of Growth. Rajesh Uppalapati has joined as the Chief Technology Officer. Having worked for Amazon for 20 years across different roles – positive
· Electronics Mart India – Company commences 9800 sq. ft. new store at Zaheerabad, Telangana – positive
· Bank of Maharashtra – Company approves fund raising worth Rs7500cr via QIP/FPO/Bonds – Positive
· Zydus Life – Company has received final approval from the USFDA for Icosapent Ethyl Capsules. It had annual sales of USD 1,316 mn in the United States (IQVIA MAT Feb. 2023). – Positive
· Adani Group Starts First Bond Buyback After Hindenburg Woes - Adani Ports said it plans to buy back as much as $130 million or Rs1066.8cr of its July 2024 bonds and similar amounts in each of the next four quarters, as it tries to show that its liquidity position is comfortable.
· Ami Organics to Acquire Majority Stake in Baba Fine Chemicals - Ami Organics secured its board's approval to acquire a 55% stake in specialty chemicals manufacturer Baba Fine Chemicals for Rs68.2cr. The acquisition will mark Ami Organics' entry into the semiconductor industry – Positive
· Bank of India – Company appointed Pinapala Hari Kishan as chief risk officer of the bank with effect from Friday – positive
· Dividend - Tamilnad Mercantile Bank Rs5, Bank of Maharashtra Rs1.30, Indusind Bank dividend Rs14, Eimcon Elecon Rs5, Shri Bajrang Rs4, Maharashtra Scooter Rs60
· Oil India –Rating agency, Fitch Ratings has affirmed Oil India Limited's (OIL) on its outstanding senior unsecured debt at 'BBB-'. The Outlook on the IDRs is Stable. – positive
· Indusind Bank Q4 Net profit Rs2040cr (up 49.9% YoY) – Expectation Rs2110cr, Provision Rs1030cr (down 2.8%% QoQ) – expectation Rs1010cr, GNPA 1.98% vs 2.06% (QoQ) – expectation 1.90%, NPA at 0.59% vs 0.62% (QoQ) – expectation 0.6%, other income Rs2150cr (up 13% YoY) – expectation Rs2170cr and NII Rs4669.4cr (up17.17% YoY) – expectation Rs4750cr.
· Tamilnad Mercantile Bank Q4 Net profit Rs253cr (up 11.5% YoY), Provision Rs57.18cr (up 74% QoQ), GNPA 1.39% vs 1.70% (QoQ), NPA at 0.62% vs 0.75% (QoQ), Operating profit Rs404cr (down 5.2% YoY) and NII Rs527.2cr (up 11% YoY)
· Bank of Maharashtra Q4 Net profit Rs840cr (up 137% YoY), Provision Rs945cr (up 62% QoQ), GNPA 2.47% vs 2.94% (QoQ), NPA at 0.25% vs 0.47% (QoQ), Operating profit Rs1860cr (up 58% YoY) and NII Rs1612cr (up 35.7% YoY)
· Mahindra Logistics – Higher depreciation and interest expense drag profitability. Company reported Q4 Revenue grew by 17% YoY to Rs1270cr – expectation Rs1377cr, EBITDA increased 24% YoY to Rs63.70cr – expectation Rs66.30cr, EBITDA margin came in at 5.0% (v/s our estimate of 4.8%) and The company reported loss of Rs82 lakh v/s Rs7.4cr (YoY) - estimate of APAT Rs5.3cr
· Century Textiles - Revenue down 0.18% at Rs 1,208.54 crore, Ebitda down 3.63% at Rs 61.58 crore, Ebitda margin at 5.1% vs 5.28%, Net profit up 68.78% at Rs 145.27 crore . The company received net gain of Rs 134.21 crore as exceptional item during the quarter
· IIFL Securities Q4 FY23 (Consolidated, YoY) - Revenue up 15.9% at Rs 401.9 crore, Ebitda up 21.13% at Rs 151.77 crore, Ebitda margin at 37.76% vs 36.13%, Net profit up 9.36% at Rs 86.34 crore
Monday, April 24, 2023
Good Morning Traders
*🌄 Good Morning Traders 🌄*
*Date :- 24/03/23*
*Have a Profitable Day 👍*
*NIFTYVIEW*
🎯 NIFTY likely to *open or Around 17684-17717*
🎯 NIFTY is likely to see *RESISTANCE or around 17749-17826-17863*
🎯 NIFTY KEY *SUPPORT lies 17554-17502-17402*
🎯Fellas *Nifty is likely to give gap up opening & is likely to follow the trend this whole week as bulls are likely to come back strong this time & we have probability of hitting 18100 this week 🫡🥹🍻 Use all dips to add more longs🍻😅🙌 BankNifty is likely to follow the support of 41800 levels & may head for 43100 kind of levels this week itself🫡 NiftyAuto has strong support 12700 & may head higher towards 13200 from there🫡 NiftyIT till the time its holding back 26000 we continue to expect 28000+ this week🙏 DowFutures is bullish only above 34200 till then its likely to remain sideways for the day🙏*
🎯 Fellas *USDINR may continue to remain sideways for some more time🥹*
🎯 Stock on *radar Reliance🙏*
*🟢Disclaimer: Our clients may or may not have position in the above stock🤫*
https://chat.whatsapp.com/DFilBxunI6RLGEdZTwMkRK
Derivatives update
*Derivatives update*
Good morning !!
Derivatives update for Monday, 24th April 2023.
India VIX was down by 2.60% from 11.94 to 11.63 levels. Volatility has sunk and overall has dried up and consistently hovering at its lower zones.
Nifty *Put/Call Ratio* (OI) decreased from 1.01 to 0.93 level.
On Option front, Maximum Call OI is at 17700 then 18000 strike while Maximum Put OI is at 17700 then 17500 strike. Call writing is seen at 17700 then 17900 strike while Put writing is seen at 17600 then 17500 strike.
*Option data suggests a shift in trading range in between 17400 to 18000 zones while an immediate trading range in between 17500 to 17750 zones.*
For weekly Bank Nifty, Maximum Put OI is at 42000 then 41000 strike and maximum Call OI is placed at 42500 then 42000 strike. We have seen significant Call writing at 44500 and Put writing is witnessed at 42000 strike.
Bank Nifty Put Call Ratio decreased from 1.03 to 0.78. Implied volatility fell from 13.6 to 13.2 levels.
Bank Nifty (CMP 42,118)
Data setup for Bank Nifty suggests a trading range in between *41600/41750 to 42500/42750 zones.*
Looking ahead at the FII’s derivatives activity, there was long built up in index futures, call selling and put buying in index options and position unwinding in stock futures.
In the cash market, FIIs were net sellers to the tune of 2117 crores while DII’s were net buyers worth 1633 crores. FIIs Index Long Short Ratio increased to 39.31%.
Derivatives data and price set up suggests, Nifty needs to hold above 17620 zones to witness an up move towards 17717 and 17777 zones while on the downside supports are placed at 17550 and 17442 marks.
Bank Nifty has hold above 42000 zones for an up move towards 42500 then 42750 levels while on the downside support are seen at 41750 then 41600 zones.
Thank you. Have a great trading day and weekend ahead..!!
From Advisory Desk 24th April 2023
From Advisory Desk 24th April 2023
Market Outlook: US futures were trading a quarter percent lower ahead of major economic data and earnings due this week. According to the latest survey released on Friday, US and European business activity accelerated to an 11-month high despite high interest rates. Asian markets have started on a mixed note, while the SGX Nifty is indicating a positive opening. On the domestic front, the Nifty continues to move in a range and has respected its 50-DEMA. However, it has formed a bearish engulfing pattern on the weekly chart. Overall, we expect sideways movement in our markets ahead of key results, but sector- and stock-specific action is likely to continue. Over the weekend, Reliance Industries and ICICI Bank declared a good set of quarterly numbers, which will support the markets at the lower end.
Actionable: Buy ICICI bank, HDFC Life, Mahindra CIE.
Delivery Idea: Buy Zomato
Global market:
DOW: + 22
SGX NIFTY: + 50 (prev. close 17639)
NIFTY 50 : 17624
Sensex : 59655
Institution:
FII: - 2117 Cr
DII: + 1633 Cr
NSE:
Advances: 1477 / Declines: 1985
Currency:
Dollar: $ 82.09
Dollar Index: 101.73
Commodity:
Gold: $ 1991 per ounce
Crude: $ 80.90 per barrel
Bonds:
10 year US bond rate: 3.56
10 year Indian Bond rate: 7.19
Derivative:
PCR: 0.80
VIX: 11.63
Today's Result Announcement - IndusInd Bank, Century Textiles, Bank of Maharashtra, Persistent Systems, Mahindra Logistics, IIFL Securities, NELCO, Tamilnad Mercantile Bank, Trident Texofab, and Tata Teleservices.
Results Update:
Above estimates: ICICI Bank, Reliance Industries, Macrotech Developers
Inline estimates: Hindustan Zinc
Below estimates: Yes bank
Updates:
HDFC Bank/HDFC Life - HDFC Bank has reported that RBI has provided some key forbearances with respect to the ongoing merger process between HDFC Bank and HDFC Ltd. The Reserve Bank of India granted HDFC Bank three years to meet the priority sector requirements, once the HDFC book is merged into it. Also, allowed to raise stake in insurance subs to >50%.
Wipro - Company will consider a proposal for share buyback at its board meetings on April 26-27.
Sunpharma - US FDA has directed the Company to take certain corrective actions at the Mohali facility before releasing further final product batches into the US and there will be a temporary pause in the release of batches from Mohali until US FDA-mandated measures are implemented.
Lodha (Mcrotech Developers) – Company approves bonus in the ratio of 1:1.
Adani Ports - Company commences tender offer to buy outstanding senior notes due 2024 worth $130 million to partly prepay company’s near-term debt maturities in each of the next 4 quarters.
Kotak Mahindra Bank - Shareholders have approved an appointment of Uday Kotak as a Non-executive, Non-independent Director of the Bank. Uday Kotak's current term as MD and CEO of Kotak Mahindra Bank is set to end in December 2023.
Securities in Ban: Nil.
Derivative View: On option front, Maximum Call OI is at 17700 then 18000 strike while Maximum Put OI is at 17700 then 17500 strike. Option data suggests an immediate trading range in between 17500 to 17750 zones.
News and Impact
News and Impact
· Better than expected quarterly results announced by Reliance Industries& ICICI Bank, RBI approval on HDFC and HDFC Bank merger and RBI says that the economy moving into low inflation regime will be positive for the market sentiment. SGX Nifty is up by quarter percent or 50 points while Asian market are witnessing mixed bag. US Market managed to end in positive territory on Friday after stronger-than-expected US services PMI data fuelled expectations that the Federal Reserve will keep hiking interest rates to contain inflation. This week will be important not only in the domestic market but also in the global market. Investors await a flood of earnings headlined along with global economy data to be release this week which is a key direction for the market. IndusInd, Bajaj Finance, Axis Bank, Kotak Bank, Bajaj Auto, Maruti, HUL, Nestle ACC would release their Q4 numbers to be announce this week. US tech giants Amazon, Microsoft, Google parent Alphabet and Facebook owner Meta are publishing results this week. Apart from results, investors this week would also keep an eye on key global events viz. Bank of Japan interest rate decision, GDP data for several important countries including US, Euro zone, Germany, France and Italy. Back home, banking stocks will be in focus after the better than expected quarterly results announced by ICICI Bank. Metal stocks may be positive after US March PMI data reported ahead of Bloomberg expectation.
· US Market – US stocks gained marginally on a narrow range most part of the day as investors waded through a slew of mixed earnings reports and US business activity data, while awaiting big tech reports next week to gauge the health of corporate America. Nasdaq and Dow Jones gained 0.1% each after the release of the purchasing managers’ index data, which unexpectedly climbed this month to nearly a one-year high, a worrisome sign that threatens to reignite inflationary pressures. US, Manufacturing PMI, Composite PMI and Service PMI reported better than expectation.
· Global market summary – Credit Suisse, Coca-Cola, First Republic Bank results today. Brent Crude fell to 1-month low, US Service PMI in March reported over 1-year high. US 2-Year Bond 1-month high at 4.20%
· Asian Market – Stocks in Asia were mixed in early trade, while US equity futures fell as investors prepare for a busy week of economic data that will help illuminate the path forward
· for interest rates. Shares edged higher at the open in Japan, but declined in South Korea and Australia
· European Market – European Indexs edged higher on Friday following mixed economy data announced in the Euro zone. Germany and France index ended the day half a percentage point higher after purchasing managers' index (PMI) survey data showed eurozone business activity growth accelerated in April on the buoyant services sector -- but manufacturing shrank. UK Index edged up as investors eyed rebounding UK business activity despite sliding retail sales.
· Oil –Brent crude declined 2% to $81/bbl as worries about demand linked to a weakening economic backdrop. Hawkish commentary by the US Federal Reserve to hike in interest rate pulled down oil price
· Gold – Gold slipped 1% to below $2000/ounce after stronger-than-expected US services data fuelled expectations that the Federal Reserve will keep hiking interest rates to contain inflation
· Previous Day market update – Equity benchmark index managed to end on a positive note amid range bound market ahead of heavyweight Reliance quarterly results to be announce post market today. Moreover, traders had cautious approach on account of weakness in the global markets. ITC, HDFC, Asian Paints, Britannia and TCS were major gainers in the Nifty stocks while Maruti, Ultratech and ICICI Bank were major losers. There was gain in IT and FMCG stocks offset by losses in banking and auto stocks. Paint stocks witnessed fresh buying due to benefit of fall in oil price. Market consolidated in the last few sessions and Nifty respected its 50 DEMA level. Nifty mid-cap Index declined half percent Nifty 500 stocks advance decline ratio was 1:1.5. Sensex index ended 22 points or 0.04% higher at 59,655, while Nifty ended flat at 17624 but ended above the 17,600 level. FIIs were net sellers Rs2117cr while DIIs were net buyers Rs1633cr on Friday.
· Nifty Technical Levels - Nifty formed a small bodied Bearish candle on daily frame with longer lower shadow. It formed a Bearish engulfing candle on weekly frame and negated its higher lows formation of the last three weeks. Now it needs to hold above 17620 zones to witness an up move towards 17717 and 17777 zones while on the downside supports are placed at 17550 and 17442 marks.
· Bank Nifty Technical Levels – Bank Nifty formed a small Bearish candle on daily scale as buying is seen at lower zones but follow up is missing at higher zones. On weekly scale it has formed a Bearish candle which suggests selling pressure is visible at higher zones but supports are intact at lower levels. Now it has hold above 42000 zones for an up move towards 42500 then 42750 levels while on the downside support are seen at 41750 then 41600 zones.
· Actionable BUY – HDFC, PNC Infra, Reliance Industries, ICICI Bank,
· Brokers Radar – Reliance Industries – CLSA TGT at 2970, JP Morgan TGT at 2960 and Jeffries TGT at 3125. ICICI Bank – CLSA TGT at 1200, JP Morgan TGT at 1150. Citi TGT on Hindustan Zinc at 240, Macro Tech Developers TGT by Jefferies at 1325. Morgan Stanley TGT on Paints Sectors – Asian Paints TGT at 2546, Berger Paints TGT raised to 611 from 507 and . Kansai Nerolac TGT reduce from 380 to 322. Haitong International initiated coverage of Mahindra Logistics with TGT set to Rs490.
· Events – Bank of Maharashtra board meeting for fund raising plan.
· Results – Bank of Maharashtra, Century Textiles, Indusind Bank, Maharashtra Scooter, Nelco, Mahindra Logistic, Persistent Systems, Tata Teleservices and TMB
· Corporate Action - NETTLINX LTD Bonus 1:1.
· Global Data – Chicago Fed Nat Activity Index, Retail sales (US), House Price Index (UK). Export and Import (Germany), ECB Governing Council members Boris Vujcic, Francois Villeroy de Galhau, speak at events.
· Market Summary –Reliance Industries announced better than expected Q4 results. RBI gives HDFC Bank selective regulatory relief post HDFC merger, Vedanta Says Confident on Paying Dollar Debt Starting This Month, Solar Industries to supply UAV 'Nagastra' to Indian ArmyKumar Mangalam Birla returns to Vodafone Idea board as additional director, Bank of Baroda approves raising up to $7bnn, SEBI plans to allow mutual funds with performance-based fees, Economy Moving Into Low Inflation Regime, RBI Says. ICICI Bank announced inline with expected Q4 results. Uday Kotak To Transition To Non-Executive Role After CEO Tenure At Kotak Mahindra Bank. Macrotech Developers (Lodha) announced better than expected Q4 results.
· Uday Kotak is set to retire as MD & CEO of the Kotak Mahindra Bank in December 2023. Kotak Mahindra Bank has received shareholder approval to appoint Uday Kotak as a non-executive, non-independent director after his tenure as CEO ends later this year.- We are positive on the stock.
· HDFC and HDFC Bank - The Reserve Bank of India (RBI) has allowed HDFC Bank Ltd and HDFC selective regulatory relief to smooth out the merger between the two organisations, set to conclude by July this year. RBI has permitted the bank to meet priority sector lending requirements in a staggered fashion over three years – Positive
· Lodha (Mcrotech Developers) – Company approves bonus in the ratio of 1:1- positive
· Macrotech Developers (Lodha) Business Update – Company maintained its sales run-rate with bookings of Rs3000cr (in line with our estimate of Rs3100cr b), down 12% YoY and flat QoQ, Company has surpassed its FY23 pre-sales guidance of Rs11500cr by delivering pre-sales of Rs12100cr , up 34% YoY. In FY23, LODHA raised prices by 8% at the portfolio level. – positive
· Mahindra & Mahindra Financial Services: The company raised Rs 682 crore via allotment of non-convertible debentures on private placement basis. - positive
· Wipro share buy-back - : The company's board of directors will consider the proposal over its meeting on April 26-27. The decision regarding buyback of equity shares will be communicated on April 27.
· HDFC AMC : The company received the final approval from markets regulator SEBI for change in control from HDFC to HDFC Bank. The move was necessitated due to change in co-sponsor of HDFC Mutual Fund, on account of amalgamation of HDFC with and into HDFC Bank - Positive
· Union Bank of India: The board will meet on April 26 to consider the bank’s capital plan. The plan proposed to raise equity capital via further public offer, rights issue, private placements, and issue of Basel III compliant Additional Tier 1 bonds and Tier 2 bonds. - positive
· Solar Industries – Company has bagged an order to supply unmanned aerial vehicle (UAV) 'Nagastra' to the Indian Army worth Rs212cr, beating competitors from Israel and Poland.- positive
· Bank of Baroda– Company approved raising of foreign currency funds via bond sales of as much as $1bn under the lender’s medium-term notes program. The board approved raising up to $3bn by issuing certificate of deposits in one or more tranches at an appropriate time. It also approved raising a further up to $3bn through bilateral or other borrowings – positive.
· Economy Moving Into Low Inflation Regime, RBI Paper Says - India’s economy is likely moving into a low inflation regime as supply shocks fade and demand cools, according to a paper co-authored by Reserve Bank of India Deputy Governor Michael Patra. – Expect positive for Banks, auto and real estate stocks on hope of RBI to cut interest rate in the next policy meeting.
· Power Mech Projects- Company has received orders worth Rs.720.00 Crores. Construction of Government Medical College for Uttarakhand worth Rs362.00 crores and Balance Erection works & Refurbishment of 2x525 MW Monnet ISpat, JSPL,Angul, Odisha - Rs. 106.00cr – positive.
· Dividend – Lodha Rs2, Tanfac announce dividend Rs6.50. Wendt Ltd Rs50 and dividend Rs8 a share, Ksolves Industries Rs8.
· Sun Pharma - The US FDA had conducted inspection at Sun Pharma's Mohali (Punjab) facility from August 3 to August 12, 2022. The US FDA had classified the inspection as "Official Action Indicated" (OAI). The Company has received a letter titled "CONSENT DECREE CORRESPONDENCE / NON-COMPLIANCE LETTER" from the US FDA. – Any sharp decline will be buying opportunity.
· Maharashtra Seamless – Company receives order of Rs. 262 crores from ONGC – Positive
· Dr Reddy – Company announced the launch of Treprostinil Injection in the U.S. market, a therapeutic equivalent generic version of Remodulin® (treprostinil) Injection, approved by USFDA - positive.
· PNC Infra- Company wins orders worth Rs819cr for construction of Highway projects – positive
· Max India – Company’s Antara Residences for Seniors Noida project Phase I of 340 apartments - sold out 100%. The company continues to be well-capitalized with a treasury corpus of Rs 290 crore as on March 31, 2023, and other monetizable assets of Rs 160 crore to support Antara's growth plans. – positive
· Heranba Industries – Company to launch five new products out of Sarigam technical plant. These products would be launched in both technical and formulations segments. Approvals for formulations are already in place with the company. – positive
· IIFL Finance - Credit rating from B2 to B1, retaining 'stable' outlook on the company which also includes the MTNs. Moody's said the upgrade has been driven by factors such as higher share of off-balance sheet loans; further fortifying its asset-light business model and improvement in the company's key metrics of funding, profitability. Earlier this month, IIFL Finance also secured $100 million in long-term funding, jointly, from Export Development Canada (EDC) and Deutsche Bank. – Positive
· Ashapura Minechem has approved the sale/transfer of its Chamotte Plant of the Company to M/s Orient Abrasives Ltd. The Company shall receive consideration of Rs. 21 Crores for the above sale/transfer. – positive
· Gujarat Industries Power - Comapny have considered / approved the procurement of Imported Coal for 500 MW Surat Lignite Power Plant (SLPP) and deliberation of EPC Contract capacity at Khavda, Great Rann of Kutch, Gujarat. – positive
· Kumar Mangalam Birla returns to Vodafone Idea board as additional director - Aditya Birla Group Chairman Kumar Mangalam Birla has returned to the board of debt-ridden Vodafone Idea as an additional director in a non-executive and non-independent role. Birla stepped down from the board of Vodafone Idea (VIL) in August 2021 for his role as non-executive chairman of the company. – Avoid due to poor balance sheet .
· Suven Pharmaceuticals: The Competition Commission of India approved the acquisition of 76.1% of the company by Berhyanda. – positive
· Laxmi Organic Industries: The board approved the proposal to raise funds through equity and/or debt, as well as borrow Rs 2,000 crore. – positive
· JSW Energy – Company has commissioned 51 MW of wind power capacity under phase-wise commissioning of 450 MW ISTS-connected wind power project awarded under SECI tranche X in Tamil Nadu.- positive
· Ganesh Benzoplast receives favorable order from NCLAT in dispute against STC – positive
· Vedanta – Company said it will make bond payments due this month, a move that should assuage concerns about its liquidity after surging interest rates intensified pressure on low-rated borrowers with heavy debt loads.
· Market regulator SEBI is planning to permit a new category of mutual fund schemes where asset managers’ charges will partly be linked to performance, according to an official document reviewed by Reuters and a source directly familiar with the matter. As part of the proposal, the Securities and Exchange Board of India (SEBI) wants to allow additional charges if a fund consistently outperforms a relevant benchmark index and gives higher annualised returns, according to an internal SEBI document.
· Reliance Industries Q4 results - Company reported better than expected Q4 results. Company reported Q4 net profit Rs13820cr (up 24.6% YoY) – expectation Rs9380cr, Ebitda Rs18070cr (up 15.2% YoY) – Expectation Rs16250cr, Ebitda Margin 15.2% vs 11.3% (YoY) – expectation 13.6% and income Rs118700cr (down 8.3% YoY)- expectation Rs119880cr
· Macrotech Developers (LODHA) – Company reported better than expected Q4 results. Company reported Q4 net profit Rs743.4 (up 31% YoY) – expectation Rs380.5cr, Ebitda Rs771.7cr (up 23.7% YoY) – Expectation Rs597.6cr, Ebitda Margin 24.7% vs 23.6% (YoY) – expectation 23.2% and income Rs3255.4cr (down 5% YoY)- expectation Rs2571.7cr
· ICICI Bank announced in line with expected Q4 operating profit and improved asset quality. Company reported Q4 Net profit Rs9121cr (up 30% YoY) – Expectation Rs9160cr, NII Rs17667cr (up 40% YoY) – Expectation Rs17470cr, Other income was up 7.4% YoY at Rs 5,088 crore – Expectation Rs5070cr, Operating profit Rs13860cr (up 36% YoY) – expectation Rs14050, Net interest margin for the bank rose to 4.9% vs 4.65% (QoQ), GNPA at 2.81% vs 3.1% (QoQ), NPA at 0.48% vs 0.6%, Provision Rs1620cr (down 51.5% YoY) – expectation Rs1860cr, Total deposits rose 10.9% year-on-year to Rs 11.8 lakh crore and Dividend Rs8 a share.
· Hindustan Zinc announced lower than expected Ebitda and Ebitda and Margin. Company reported Q4 Income Rs8509cr (down 3.3% YoY) – expectation Rs8500cr, Ebitda Rs4255cr (down 14.2% YoY) – Expectation Rs4400cr, Ebitda Margin 50% vs 56.4% (YoY) – expectation 52.6% and Net profit Rs2583cr (down 11.8% YoY)- expectation Rs2800cr.
· Yes Bank Q4 Results - Yes Bank Q4 Results - Net Profit Rs202cr (down 45% YoY) – Bloomberg estimate Rs258cr, GNPA 2.17% VY 2.02% (QoQ), Provisions Rs618cr (down 27% QoQ), Net Interest Income Rs2110cr (up 16% YoY), Net interest margin 2.8% vs. 2.5% YoY, Operating profit Rs889cr (up 15% YoY) and Fresh slippages Rs1196cr (down 26% QoQ)
· Tejas Networks Q4 FY 23 (Consolidated, YoY) company announced impressive Q4 results.- Revenues up 136.62% at Rs 299.32 crore EBITDA loss narrows to Rs 8.19 crore vs Ebitda loss of Rs 88.11 crore , Net loss narrows to Rs 11.47 crore vs loss of Rs 49.62 crore . Anand S Athreya has been appointed as managing director and CEO designate from April 21, 2023, to June 20, 2023. He will take over as managing director and CEO on June 21, 2023
Today's Market 24/04/2023
Today's Market
US Market
Nasdaq = +12.90
Dow Jones = +22.34
European
Ftse 100 = +11.52
Cac 40 = +38.29
Dax = +85.69
Asian
Nikkei 225 = +96.66
Straits Times = -7.02
Hang Seng = -46.19
Taiwan weighted = +5.26
Kospi = -12.21
SGX Nifty = 17687.5(+48)
On 21st Apr
Fii sells 2116.76 crore stocks
Dii buys 1632.66 crore stocks
Good News :
1. Wipro going to buyback shares
2. Reliance Ind profit rise 22.2%
3. Icici bank profit rise 30%
4. Macrotech profit rise 39%
5. Tejas loss decline from -Rs49.6 to -Rs11.5 crore
6. CE info profit rise 24.3%
7. Bank of Maharashtra going to raise funds
8. RBI approve stake increase in Hdfc Life and Hdfc Ergo from HDFC and HDFC Bank
9. Maha seamless got order worth Rs262 crore from Ongc
10. Ami organics enter into Semi conductor business
Bad News:
1. Maruti will recall 7213 Baleno car
2. YesBank profit decline 45%
Other News:
1. Result today: Indusind Bank, Tmb, Mahindra logistics, Ttml, Bank of Maharashtra, IIFL securities , Century Textile, Nelco
Pharma, Chemical, Hotels and Engineering stocks will go upside today
Saturday, April 22, 2023
YES BANK Q4 RESULTS
YES BANK Q4 SL
NET PROFIT 202 CR VS 367 CR (YOY); 52 CR (QOQ)
REVENUE 6200 CR VS 4900 CR (YOY); 5872 CR (QOQ)
GNPA 2.17% VS 2.02% (QOQ)
NNPA 0.83% VS 1.03% (QOQ)
Reliance Industries Ltd announces results for Q4 & FY2022-23.
Reliance Industries Ltd announces results for Q4 & FY2022-23.
Details follow…
🌸Reliance posts record annual consolidated revenues at ₹976,524 crore ($118.8 billion), up 23.2% YoY, supported by continuing growth momentum across all businesses
🌸Reliance’s annual EBITDA crossed benchmark of ₹150,000 crore for the first time; the record high EBITDA stood at ₹154,691 crore ($18.8 billion), up 23.1% YoY
🌸Record annual consolidated Profit after Tax at ₹74,088 crore ($9.0 billion), up 9.2% YoY
🌸Reliance Jio extends market leadership in 5G rollout with coverage across 2,300+ cities / towns; Jio has already deployed ~60K 5G sites across 700MHz and 3500MHz bands and is on track to complete pan India rollout by December 2023
🌸Reliance Retail recorded accelerated store opening during the year with 3,300+ new stores taking total retail area to 65.6 million sq ft
🌸Strong business performance of O2C during the year led by excellence in operations, optimised feedstock cost and supportive product margins
🌸The Capital Expenditure for the year was ₹141,809 crore ($ 17.3 billion); Net Debt as on March 31, 2023 was ₹ 110,218 crore ($ 13.4 billion) substantially below the annual EBITDA
🌸RIL's Gross Revenue for the quarter was ₹239,082 crore ($29.1 billion), up 2.8% Y-o-Y, supported by continuing growth momentum in consumer businesses.
🌸Q4 FY2022-23 Consolidated EBITDA for the quarter increased by 21.9% Y-o-Y to ₹41,389 crore ($5.0 billion)
🌸Q4 FY2022-23 Consolidated Profit after tax for the quarter improved by 18.3% Y-o-Y at ₹21,327 crore ($2.6 billion)
🌸Q4 FY2022-23 Jio Platforms' Gross Revenue for the quarter was at a record high of ₹29,871 crore, up 14.3% Y-o-Y
🌸Q4 FY2022-23 Jio Platforms' EBITDA for the quarter was a record ₹12,767 crore, up 16.9% Y-o-Y
🌸Q4 FY2022-23 Jio Platforms' Net Profit for the quarter was ₹4,984 crore, up 15.6% Y-o-Y
🌸Q4 FY2022-23 Jio network scales up to now carry over 10 Exabytes per month, up 24% Y-o-Y; Jio's total data traffic jumped 23.2% Y-o-Y to 30.3 billion GB for the quarter; Voice traffic grew 8% to 1.31 trillion minutes
🌸Q4 FY2022-23 Jio reported industry-leading subscriber growth with 29+ million net additions during the year; Customer base stood at 439 million as on 31st March 2023
🌸Q4 FY2022-23 Jio's ARPU grew 6.7% Y-o-Y to Rs 178.8 during the quarter, from Rs 167.6 in the year ago period
🌸Q4 FY2022-23 Reliance Retail posted a record high quarterly revenue at ₹69,267 crore, up 19.4% Y-o-Y driven by broad based growth across consumption baskets
🌸Q4 FY2022-23 Reliance Retail posted record quarterly EBITDA at ₹4,914 crore, up 32.6% Y-o-Y. EBITDA before Investment Income was reported at ₹4,769 crore, a growth of 33% YoY
🌸Q4 FY2022-23 Reliance Retail's Net profit for the quarter was ₹2,415 crore, up 12.9% Y-o-Y
🌸Q4 FY2022-23 Reliance Retail maintained its store opening trajectory with 966 new store openings taking total count to 18,040 stores; Added 1.7+ Million Sq. ft. of warehouse space
🌸Q4 FY2022-23 Reliance Retail recorded highest ever footfalls at 219 million across formats during the quarter; Digital Commerce and New Commerce businesses continued to grow and contributed to 18% of revenue
🌸Q4 FY2022-23 Reliance's O2C segment quarterly revenue fell 11.8% Y-o-Y to ₹128,633 crore ($15.7 billion) primarily on account of sharp reduction in crude oil prices and lower price realisation of downstream products.
🌸Q4 FY2022-23 O2C EBITDA for the quarter at ₹16,293 crore, up 14.4% Y-o-Y led by strength in transportation fuel cracks, optimized feedstock cost and advantageous ethane cracking economics
🌸O2C Production meant for Sale was 17.1 million tonne for the quarter, down 1.2% Y-o-Y
🌸Reliance's Oil & Gas segment quarterly revenues jumped 126.9% to ₹ 4,556 ($554 million) on account of higher price realisation coupled with minor increase in the Gas Production.
🌸 Oil & Gas EBITDA increased sharply to ₹ 3,801 crore ($463 million), up 144.3% Y-o-Y
🌸Q4 FY2022-23 The KG-D6 production for the quarter was 42.9 BCFe, up 13.8% Y-o-Y
ICICI BANK Q4 RESULTS
ICICI BANK Q4 SL
NET PROFIT 91.2B RUPEES VS 70.2B (YOY); 83.11B (QOQ)
REVENUE 310B RUPEES VS 226.7B (YOY); 285B (QOQ)
GNPA 2.81% VS 3.07% (QOQ)
NNPA 0.48% VS 0.55% (QOQ)
Friday, April 21, 2023
SGX NIFTY to be DELISTED
SGX NIFTY to be DELISTED from SINGAPORE EXCHANGE and RELISTED at GIFT CITY AHEMDABAD in symbol NSE IFSC NIFTY . Suspension from SGX Exchange from 30 June. Listing and Available for Trading From 3 July. Any Open Position in SGX on 30 June will be Converted to NSE IFSC NIFTY in Ratio of 1:1. Forwarded
New Public Issue Of NCD
*New Public Issue Of NCD*
Issuer: *Cholamandalam Investment And Finance Company Limited*
Type Of Instrument: *Secured, Rated, Listed, Redeemable NCD*
Mode Of Issue: *Public Issue*
Rating: *ICRA AA+/Stable by ICRA and IND AA+/Stable by India Ratings & Research Private Limited*
Base Issue Size: *₹500 Cr*
Option to over subscription: *₹500 Cr*
Minimum Subscription: *₹375 Cr*
Face Value: *₹1000/NCD*
Minimum Application Size: *₹10,000*
*#Frequency Of Interest Payment For all categories of Investors#*
*22 Months*
Annual: 8.25%
Cumulative: 8.25% (₹1156.64)
*37 Months*
Annual: 8.30%
Cumulative: 8.30% (₹1279.15)
*60 Months*
Annual: 8.40%
Cumulative: 8.40% (₹1497.40)
*#Allocation Ratio#*
Institutional: 20%
Non-Institutional: 25%
HNI: 25%
Retail: 30%
*Issue Opening Date: April 25, 2023*
*Issue Closing Date: May 09, 2023*
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