Market Indication

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY: FLAT to NEGATIVE

BULK Deals:Kalpataru Power Transmission, Krishna Institute of Medical Sciences etc.

Stocks In F&O Ban Period: Nil

Results Today: Nil

SGX NIFTY: (Negative)

18659 -70.50 -0.38%

News and Impact

News and Impact

 

 

·      Worries about debt-ceiling negotiation voting to be held today in the US Congress and lower than expected China PMI data, may open domestic market on a flat to negative note. SGX Nifty declined nearly quarter percent or 50 points while most of the Asian market fell half to one percent in the morning. US Future are exhibiting on a mixed bag. On the other hand, Brent crude nosedived 4% to 1-week low on account of weaker global demand and sufficient supply ahead of an upcoming OPEC+ meeting.  Overnight, US market ended on a mixed bag as investors weighed a tentative U.S. debt ceiling deal that needs Congress approval as well as the potential for another interest rate hike in June. President Joe Biden and Republican House Speaker Kevin McCarthy expressed confidence that they can muster the necessary support for the bill before voting commences, which could be held today. Back home, expects range bound market today on ahead of US voting outcome for debt ceiling deal. Moreover, domestic GDP number will be release in the post market today. Undertone bullish sentiment in the market on account of strong FIIs buying interest, impressive quarterly results and strong micro economy data. FIIs were net buyers over Rs2000cr yesterday, highest ever buying since Feb 2021 or 27 months high. FIIs bought $3bn or Rs24500cr during the month of May. Nifty is just 1.5% shy away from its all-time high level of 18,887, it hit in December 2022. Traders buy on dips strategy continue on account of  Nifty formed a bullish candle on daily scale and gave the highest daily close of the last 112 sessions. The Nifty Midcap 100 index already hit its all-time high along with the Nifty Bank. Bank Nifty also formed a bullish candle on daily scale and gave the highest ever close. Auto stocks will be in focus today ahead of monthly sales data will be announce tomorrow. Domestic CPI data and MSCI Global Standard Index today, as a part of the May rejig exercise. Euro zone CPI and GDP data will be release today. Expects positive for airlines, paints, cement stocks due to benefit of fall in oil price.

 

·      US Market   – U.S. stocks ended mixed on Tuesday as investors weighed a tentative U.S. debt ceiling deal that needs Congress approval as well as the potential for another interest rate hike in June. Dow Jones slipped 0.2% while Nasdaq Composite gained 0.3%

 

·      Global market summary –  US Congress Voting today for debt ceiling deal negotiation deal at 8.30PM in US Time. Brent Crude fell to 1-week low. S&P 500 ended 9-month high. China announced lower than expects May PMI data.

 

·      Asian Market – Asian stocks fell in the morning after momentum in US equities faded and Congress considered the debt accord that’s needed to head off a catastrophic default. Shares slipped in Japan, Taiwan and Australia. Hong Kong Index slipped over 1% after China announced lower than expects May PMI data.

 

·      European Market – European stocks dropped yesterday on account of poor economy data  and lower oil prices weighed on the energy sector, while Unilever Plc and Nestle SA dropped after announcing changes to the chief financial officer role. Both UK and France Index declined over 1% each as worries that central banks would keep interest rates higher for longer because of elevated inflation have also capped risk demand

 

·      Oil –  Oil held its biggest decline by in four weeks on signs of weaker demand and sufficient supply ahead of an upcoming OPEC+ meeting. Brent Crude  declined by 4% to 1-week low at $73/bbl.

 

·      Gold –   Gold gained 1% to $1966/ounce as Treasury yields slumped on hopes that US Congress will pass a debt-ceiling deal to avoid a default.

 

·      Previous Day market Update – After opening on a flat note,  equity benchmark indices closed marginally higher for the fourth straight day, inching closer to their record high levels amid continued purchases from foreign investors. Bajaj twins, HDFC twins, Hindustan Unilever, ITC, Infosys and Kotak Bank lifted Nifty to a positive territory. The Nifty Midcap 100 index already hit its all-time high along with the Nifty Bank. Sentiment boosted on account of rally in the global markets and US future on the hopes that Congress will pass a debt accord to head off a default as White House and Republican congressional leaders stepped up lobbying in support of the deal. On the domestic front,  strong FIIs buying interest, impressive quarterly results and IMD forecast of normal monsoon boosted the market sentiment. Sensex surged 123 points or 0.20% to settle at 62,969 and Nifty rose 35 points or 0.20% to end at 18,634. Financials, FMCG and select IT stocks were major gainers today while metal stocks witnessed profit booking. Nifty 500 stocks advance decline ratio was 1:1.  FIIs were net buyers Rs2090cr while DIIs were net sellers Rs439cr yesterday.

 

·      Nifty Technical Levels -  Nifty formed a Bullish candle on daily scale and gave the highest daily close of the last 112 sessions. Now it has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones.

 

·      Bank Nifty Technical Levels – Bank formed a Bullish candle on daily scale and gave the highest ever close. Now it has to continue to hold above 44144 zones for an up move towards 44750 then new life high of 45000 zones while on the downside support exists at 44144 then 44000 zones.

 

·      Actionable BUY – REC, LTIMindtree, Coal India, Prestige Estate, 

 

·      Brokers Radar –  Adani Ports – Goldman Sachs TGT at 800, Nomura TGT at 1075. CLSA TGT at 878, Citi 972,, PI Industries TGT by Philips Securities at 4095, Chambal Fertilizer TGT by Philips Securities at 384.  Nomura TGT on Sona BLW at 573, Torrent Pharma TGT – Goldman Sachs TGT at 2025 and Jefferies TGT at 1650 , JK Cement TGT by Jefferies at 3260.

 

·      Events – MSCI Re-balancing, GDP and Eight Infrastructure Data, Sona BLW and HDFC Life block deal today.

 

·      Corporate Action  - Macrotech bonus 1:1, SBI ex-dividend 11.30 and  DB Corp Rs3,

 

·      Global Data – Mortgage Application and US Fed Reserve Release Beige Book (US), CPI, Consumer Spending, GDP and PPI (France). CPI and Unemployment Change (Germany). Composite PMI, Manufacturing PMI and Non-Manufacturing PMI. (China)

 

·      Market Summary – Coal India raises high grade non-coking coal prices by 8%, Aureus Investment to sell 3.2% stake in Sona BLW today, Abrdn likely to sell 1.66% stake in HDFC Life via block deal today, TCS Bags Contract from Swedish Bank, Sun Pharma, Philogen Enter Agreement To Commercialize Skin Cancer Drug, RateGain's International Flight Bookings At Highest Since Pandemic, Prestige Estates buys out DB Group’s balance stake in 2 Mumbai projects for Rs1,176 crore, Apollo Hospital announced lower than expected Q4 Ebitda and Ebitda margin.  MSCI Global Standard Index 2023 Rejig Today

 

·      MSCI Global Standard Index 2023 Rejig Today - Shares of Adani Transmission, Adani Total Gas and Indus Towers will exit the MSCI Global Standard Index on May 31, 2023, as a part of the May rejig exercise. On the other hand, Max Healthcare Institute, Hindustan Aeronautics (HAL) and Sona BLW Precision Forgings will make an entry into the index.

 

·      Coal India - India's largest coal supplier Coal India has raisedprices of non-coking coal of grade G2 to G10 by 8% over the existing notified prices with effect from May 31, five years after the last hike. – positive.

 

·      TCS– Company secured a contract from Sweden-based Ikano Bank AB for its pan-Europe core banking transformation – positive

 

·      HDFC Life - Abrdn, formerly known as Standard Life, is likely to sell 1.6 percent equity stake or 3.57 crore shares in HDFC Life Insurance company via block deal today price range between Rs 563-585 per share (CMP 585). HDFC Bank, is set to acquire a 1.66% stake in HDFC Life from its UK-based joint venture partner –– We are positive on the HDFC Life – positive

 

·      Sona BLW - Promoter Aureus Investment Pvt Ltd plans to sell 3.25% stake or 1.9cr shares in Sona BLW Precision Forgings through a block deal today. The floor price for the sale is Rs500 a share, a discount of 7% to Tuesday’s closing price of Rs 535.50. – Good buying opportunity at lower level.

 

·      Govt may cut solar panel import tax from 40% to 20% to make up domestic shortfall - Rrenewable energy ministry has held talks with the finance ministry to approve its request to cut the import tax on solar panels from 40% to 20%, said the three sources – Expects positive for Tata Power

 

·      Infosys – Company and the French Tennis Federation (FFT) have revealed new innovations that will continue their partnership to transform and power the game in novel, smarter more immersive ways

 

·      Prestige Estates -  Company has made two strategic acquisitions to attain complete ownership of two key projects in central Mumbai’s Bandra-Kurla Complex (BKC) and South Mumbai’s Mahalaxmi locality by picking up balance stake from DB Group for a total consideration of over Rs 1,176 crore. Both the projects are currently under construction and are expected to be completed within the next 3- 4 years. – positive

 

·      ITC - The company revived its plan to carve out the hotels business as the sector has recovered from the pandemic's lows. The conglomerate was looking for an "alternative business structure" for its hotel business, ITC Chairman Sanjiv Puri said in an interview with Hindu BusinessLine. ITC's plans to spinoff its hotel businesses had been shelved since the pandemic. Recovery in its hotel business after the pandemic was the primary reason for the demerger proposal to be "back on the table", Puri said. - Positive

 

·      Vedanta -  Finsider International, a unit of Vedanta Ltd., pledges 4.4% of the latter's equity to Glencore International AG for a facility worth $250 million. The facility availed from Glencore will be operated by Vedanta Resources Ltd. Funds raised from Glencore will be used to refinance group debt – Positive

 

·      Sun Pharma- Sun Pharma, Philogen signed licensing agreement to sell Philogen’s specialty product, Nidlegy in Europe, Australia and New Zealand. The drug will be used to treat melanoma and non-melanoma skin cancers and is currently in Phase III clinical trials. – positive

 

·      RateGain's International - RateGain says international leisure flight bookings from India jumped to its highest post pandemic in June-August. RateGain Travel Technologies' latest report shows  international leisure flight bookings from India rose by 40% YoY in June-August 2023- its highest after pandemic. Demand remains 15-20% lower than pre-pandemic high of 2019 - positive

 

·      Torrent Pharma – Company approved rising Rs5000cr vis QIP and others  - positive

 

·      NDR Auto Componenet – Company announce bonus in the ratio of 1:1

 

·      Dividend – Astrazenacs Rs16, BCL Industries Rs5, La Opala Rs3, Goodyear India Rs26.50, Torrent Pharma Rs8

 

·      RattanIndia Enterprises – Company launched a new cargo drone ‘L-40’ by its company, Throttle Aerospace Systems The new L-40 drone has a higher payload capacity of 40 kgs as compared to the 20 kgs capacity L-20 drones – positive

 

·      Inox Wind- Company  bagged an order for a 150MW wind project from NTPC Green Energy's renewable arm. The project shall be executed in Gujarat. Inox Wind has recieved a total order of 550 MW from NTPC till date. – positive

 

·      Jyoti Ltd – Company bagged an order worth Rs6.21cr  from IOC for the design, engineering, manufacturing, testing and supply of 58 6.6-kilovolt and 11 KV vacuum circuit breaker panels.- Avoid due to poor balance sheet.

 

·      Force Motor announced strong Q4 results. Company reported Q4 Net Sales at Rs 1,490.15 crore in March 2023 up 69.07% from Rs. 881.38 crore in March 2022.  Net Profit at Rs. 149.16 crore in March 2023 up 473.09% from Rs. 39.98 crore in March 2022. EBITDA stands at Rs. 158.63 crore in March 2023 up 2015.07% from Rs. 7.50 crore in March 2022.

 

·      Mankans Pharma Q4 net profit Rs109.5cr (up 72% YoY) Ebitda margin 22.5% vs 15.2% (9YoY) and Income Rs486cr (up 16.5% YoY )

 

·      Adani Port Q4 -Income Rs5796.9cr (up 40% YoY), Ebitda Rs3271.3cr (up 24.8% YoY), Ebitda margin at 56.4% vs 62.3% (YoY) and Net profit Rs2292.4cr (up 42.6% YoY)

 

·      Munjal Showa Q4 net profit Rs21.2cr (up 202% YoY), Ebitda margin 5.5% vs 3% (YoY) , Ebitda Rs16.4cr (up 82.2% YoY)and Income Rs299cr (up 1% YoY )

 

·      Arvind Fashion Q4 net profit Rs28.5cr (up 27.2% YoY), Ebitda margin 11% vs 8% (YoY) , Ebitda Rs124cr (up 69.2% YoY)and Income 1140cr (up 24.4% YoY )

 

·      V-Guard better than expected Q4 Incoem and Ebitda inline with Bloomberg expectation. Company reported Q4 net profit Rs52.7cr (down 41.2%% YoY) – Bloomberg expectation Rs66.79cr, Ebitda margin 8.6% vs 10.6% (YoY) , Ebitda Rs98.6cr (down 12% YoY) – Bloomberg expectation Rs100cr, and Income 1140.1cr (up 7.6% YoY ) – Bloomberg expectation Rs1109cr

 

·      Suzlon Q4 Net profit Rs320cr vs loss Rs205.52cr (One time gain Rs251.5cr), operating margin 13.73% vs 4.26% (YoY), Ebitda Rs232.69cr (up nearly 100% YoY) and Income Rs1694cr (up 31.53% YoY)

 

·      Apollo Hospital announced marginally lower than expected Ebitda and Ebitda margin. Company reported Q4 net profit Rs146cr (up 50.50% YoY) – expectation Rs208.9cr, Ebitda margin 11.4% vs 13.1% (YoY) – Expectation 12% , Ebitda Rs488cr (up 5.4% YoY) – expectation Rs528cr and Income 4302.2cr (up 21.3% YoY ) – Expectation Rs4404cr

 

·      Torrent Pharma announced marginally lower than expected Ebitda and Income. Company reported Q4 net profit Rs287cr vs loss Rs118cr (YoY) – expectation Rs360cr, Ebitda Rs727cr (up 30% YoY) – expectation Rs774cr and Income Rs2490cr (up 17% YoY ) – Expectation Rs2495cr.  Domestic sales Rs1260cr (up 22% y/y) – Bloomberg estimate Rs1237cr and  US revenue Rs280cr (down 0.7% y/y) – Bloomberg estimate Rs292cr. 

 

 

 

Derivatives update

*Derivatives update*

Good morning !!

Derivatives update for Wednesday, 31st May 2023.

India VIX was down by 2.36% from 12.29 to 12.01 levels. Volatility was down thus giving some comfort to the bulls to buy at any small decline at record high index levels.

Nifty *Put/Call Ratio* (OI) marginally decreased from 1.33 to 1.32 level. 

On weekly front, Maximum Call OI is at 18800 then 18700 strike while Maximum Put OI is at 18300 then 18600 strike. Minor Call writing is seen at 18850 then 18650 strike while Put writing is seen at 18600 then 18650 strike.

*Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones.*

For weekly Bank Nifty, Maximum Put OI is at 44500 then 44000 strike and maximum Call OI is placed at 44500 then 46000 strike. We have seen Call writing 44500 and Put writing is also witnessed at 44500 strike. 

Bank Nifty Put Call Ratio increased from 1.10 to 1.22. Implied volatility fell from 13.9 to 13.4 levels.

Bank Nifty (CMP 44,436.35)

Data setup for Bank Nifty suggests a trading range in between *44000/44144 to 44750/45000 zones.*

Looking ahead at the FII’s derivatives activity, there was long built up in index futures, position unwinding in index options and short built up in stock futures.

In the cash market, FIIs were net buyers to the tune of 2086 crores while DII’s were net sellers worth 439 crores. FIIs Index Long Short Ratio increased to 60.77%.

Derivatives data and price set up suggests, Nifty has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones.

Bank Nifty has to continue to hold above 44144 zones for an up move towards 44750 then new life high of 45000 zones while on the downside support exists at 44144 then 44000 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 positive and moved in a zig zag fashion throughout the day. It remained in a narrow range in the second half of the day and finally closed with gains of around 36 points. Any small declines were converted into buying opportunity and it sustained at higher zones. It formed a Bullish candle on daily scale and gave the highest daily close of the last 112 sessions

◆ Now it has to hold above 18550 zones, for an up move towards 18750 and 18888 zones while on the downside support exists at 18550 and 18442 zones

◆ India VIX was down by 2.36% from 12.29 to 12.01 levels. Volatility was down thus giving some comfort to the bulls to buy at any small decline at record high index levels

◆ Since it’s the beginning of the new series, Option data is scattered at various far strikes in monthly series. On weekly front, Maximum Call OI is at 18800 then 18700 strike while Maximum Put OI is at 18300 then 18600 strike. Minor Call writing is seen at 18850 then 18650 strike while Put writing is seen at 18600 then 18650 strike. Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones

◆ Bank Nifty opened slightly negative and bulls were seen in action in the first tick and then later touched a new all-time high of 44498 levels. It was followed by a small decline and then recovered in the next half of the session. It respected its previous day’s low levels and closed above 44400 zones with gains of around 120 points. It formed a Bullish candle on daily scale and gave the highest ever close

◆ Now it has to continue to hold above 44144 zones for an up move towards 44750 then new life high of 45000 zones while on the downside support exists at 44144 then 44000 zones

◆ Bullish setup in Auropharma, RBL Bank, PFC, Rec Ltd, AB Capital, Ramco Cement, IDFC, JK Cement, HAL, IDFC First Bank, Indigo, Hindcopper, HDFC Life, Berger Paint, Indhotel, Poly Cab, Trent, DalBharat, Bandhan Bank, Bajfinance, Cumminsind, Ultracemco, Axis Bank and Asian Paint

◆ Bearish setup in Hindalco, SAIL, Tatachem, IEX and BPCL

STOCKS IN ACTION 31 MAY

STOCKS IN ACTION 31 MAY 

HDFC Asset Management Company: Keki Mistry has expressed the desire not to be re-appointed as non-executive director of the company, and will retire after the upcoming AGM on June 26.

Coal India: The company will increase prices of high-grade coal by 8%, applicable across subsidiaries, leading to revenue rising by additional Rs 2,703 crore during the current fiscal.

Mahindra & Mahindra: The company incorporated subsidiary Mahindra Last Mile Mobility to manage its three-wheeler and small commercial vehicle business. The auto major also incorporated a step-down subsidiary Icarus Hybren to run the renewable energy production and distribution business.

Axis Bank: The board appointed former RBI deputy governor NS Vishwanathan as additional director for a period of four years, up to May 29, 2027.

Aurobindo Pharma: The company received tentative new drug application approval from U.S. FDA for HIV drugs Dolutegravir, Entricitabine and Tenofovir Alafenamide tablets.

Sun Pharmaceuticals Industries: The company received approval from China’s National Medical Products Administration for its new drug application of tildrakizumab injection used to treat moderate-to-severe plaque psoriasis.

Lupin: The company entered a strategic collaboration with Enzene Biosciences to launch Cetuximab in India, used in treatment of head and neck cancer.

SonaBLW: Promoter entity Aureus Investment likely to sell upto 3.25% equity of Rs 950 cr at Rs 500/share in SonaBLW

AdaniPorts: Q4 results | Net profit grows 5%, dividend of Rs 5/share declared

KRISHNA INSTITUTE OF MEDICAL SCIENCES Large Trade

GENERAL ATLANTIC SINGAPORE Sold 23,20,449 Shares @ Rs 1600/ Share

KALPATARU POWER TRANSMISSION Large Trade

Promoters Sell 96,34,284 Shares 

ICICI Prudential Mutual Fund Bought 14.95 Lakh Shares

Corporate Actions

Corporate Actions

Dividend

30-May-23

VEDL: Interim Dividend - Rs. - 18.50

ITC: Final Dividend - Rs. - 9.50

RALLIS: Final Dividend - Rs. - 2.50

31-May-23

DBCORP: Interim Dividend - Rs. - 3.00

SBIN: Dividend - Rs. - 11.30

ADVANIHOTR: Interim Dividend - Rs. - 1.40

PGINVIT: Income Distribution (InvIT)

01-Jun-23

SIL: Interim Dividend - Rs. - 0.80

TRIDENT: Interim Dividend - Rs. - 0.36

APTECHT: Interim Dividend - Rs. - 6.00

SHREECEM: Interim Dividend - Rs. - 55.00

02-Jun-23

INFY: Final Dividend - Rs. - 17.50

INDUSINDBK: Final Dividend - Rs. - 14.00

JSWENERGY: Final Dividend - Rs. - 2.00

STEELCAS: Special Dividend - Rs. - 3.15

MAHINDCIE: Final Dividend - Rs. - 2.50

HAVELLS: Final Dividend - Rs. - 4.50

PAGEIND: Interim Dividend - Rs. - 60.00

ANZEN: Income Distribution (InvIT) 

05-Jun-23

SHYAMMETL: Interim Dividend - Rs. - 1.80

IPO

--

Buyback

Axita Cotton: Ex-Date: 02-Jun-23

Hinduja Global Solutions: Open: 22-May-23; Close: 02-Jun-23

Bonus

Macrotech Developers: Bonus Issue 1:1; Ex-Date: 31-May-23

Hardwyn India: Bonus Issue 1:3; Ex-Date: 05-Jun-23

Indiamart Intermesh: Bonus Issue 1:1; Ex-Date: 21-Jun-23

Roto Pumps: Bonus Issue 1:1; Ex-Date: 08-Jul-23

Stock Split

Sylph Technologies: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 02-Jun-23

Hardwyn India: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 05-Jun-23

Radhagobind Commercial: Stock Split From Rs. 10/- to Rs. 1/-; Ex-Date: 08-Jun-23

Right Issue

Praxis Home Retail: Ex-Date: 30-May-23

Shree Rama Multi-Tech: Ex-Date: 30-May-23

Bhakti Gems and Jewellery: Ex-Date: 31-May-23

North Eastern Carrying Corporation: Ex-Date: 02-Jun-23

Spin Off

Edelweiss Financial Services: Ex-Date: 02-Jun-23

STOCKS IN ACTION 30 MAY

STOCKS IN ACTION 30 MAY 

NBCC: (India) Q4 FY23 (Consolidated, YoY) Revenue up 14.3% at Rs 2,790 crore Ebitda up 43% at Rs 104.3 crore Ebitda margin at 3.7% vs 3% Net profit up 176.5% at Rs 113.6 crore The company reported net exception expenses of Rs 4.77 crore during the March quarter, down from 72.9 crore in the year-ago period. Finance costs came down to Rs 95,000 from Rs 1.4 crore crore during the quarter under review

Torrent Power: Q4 FY23 Revenue up 61.3% at Rs 6,037.9 crore Ebitda up 10.1% at Rs 1,090.4 crore Ebitda margin at 18.1% vs 26.5% (Bloomberg estimate: 19.4%) Net profit of Rs 483.9 crore vs net loss of Rs 487.37 crore The consolidated revenue for the quarter under review includes sale of regassified liquified natural gas of Rs 506.1 crore. The company will pay a final dividend of Rs 4 per share for the fiscal 2023, with a total outgo of Rs 192.3 crore.

Rail Vikas Nigam Q4 FY23 (Consolidated, YoY) Revenue down 11.1% at Rs 5,719.8 crore Ebitda down 8.3% at Rs 374.37 crore Ebitda margin at 6.5% vs 6.3% Net profit down 5% at Rs 359.2 crore The board recommended a final dividend of Rs 0.36 per share.

Sobha Q4 FY23 Revenues up 70.3% at Rs 1,209.9 crore Ebitda up 49% at Rs 115.6 crore Ebitda margin at 9.5% vs 10.9% Net profit up 242.2% at Rs 48.6 crore The board recommended a dividend of Rs 3 per share for the fiscal 2023.

Campus Activewear Q4 FY23 (Consolidated, YoY) Revenue down 1.3% at Rs 347.75 crore Ebitda down 27.9% at Rs 56.5 crore Ebitda margin at 16.3% vs 22.3% Net profit down 0.09% at Rs 22.9 crore Tax expenses went down as the company received deferred tax credit of Rs 5.89 crore. Sanjay Chabra has been appointed as the chief financial officer of the company, effective June 1, while Piyush Singh has been

Force Motors: Q4 Cons Net Profit 1.47b Rupees Vs Loss 428m (YoY); Loss 156m (QoQ) Q4 Revenue 14.9b Rupees Vs 8.8b (YoY); 13b (QoQ) Co Has An Exceptional Item Of 2.08b Rupees || Co Recommended A Dividend Of 10 Rupees Per Equity Share

KNR Constructions: Q4 FY23 (Consolidated, YoY) Revenue up 13% at Rs 1,245.3 crore Ebitda down 11.8% at Rs 245.97 crore Ebitda margin at 19.8% vs 25.3% Net profit up 5.8% at Rs 147.27 crore The company announced a final dividend of Rs 0.25 per share for the fiscal

NHPC: Q4 Cons Net Profit 6.43b Rupees Vs 4.67b (YoY); 6.72b (QoQ) Q4 Revenue 20.29b Rupees Vs 16.74b (YoY); 25.8b (QoQ) Co Recommended A Final Dividend Of 0.45 Rupees Per Equity Shares

Adani Transmission: Q4 FY23 (Consolidated, YoY) Revenue up 12.9% at Rs 3,357.7 crore Ebitda up 27.3% at Rs 1,203.2 crore Ebitda margin at 35.8% vs 31.8% Net profit up 85.5% at Rs 439.6 crore 

Speciality Restaurants: Q4 Sl Net Profit 549.2m Rupees Vs 43m (YoY); 150m (QoQ) Q4 Revenue 875m Rupees Vs 718m (YoY); 1.04b (QoQ) Co Has An Exceptional Item Of 83.9m Rupees || Co Recommended A Dividend Of 2.50 Rupees Per Share

Techno Electric & Engineering: Q4 Sl Net Profit 919m Rupees Vs 372.7m (YoY); 313m (QoQ) Q4 Revenue 4.5b Rupees Vs 3.05b (YoY); 1.85b (QoQ) Co Has Recommended Dividend Of 6 Rupees Per Share

Eureka Forbes: Q4 Cons Net Profit 159m Rupees Vs 45m (YoY); 69m (QoQ) || Q4 Revenue 5.08b Rupees Vs 3.74b (YoY); 4.72b (QoQ)

IRCTC: Q4 Sl Net Profit 2.79b Rupees Vs 2.14b (YoY); 2.6b (QoQ) Q4 Revenue 9.65b Rupees Vs 6.91b (YoY); 9.2b (QoQ) Co Recommended A Final Dividend Of 2 Rupees Per Equity Shares

Hikal: Q4 Cons Net Profit 360m Rupees Vs 207m (YoY); 264m (QoQ) Q4 Revenue 5.4b Rupees Vs 5b (YoY); 5.4b (QoQ) Co Has An Exceptional Item Of 258m Rupees || Co Recommended Final Dividend Of 0.60 Rupees Per Equity Share

ISGEC Heavy Engineering: Q4 Cons Net Profit 861m Rupees Vs 376m (YoY); 630m (QoQ) Q4 Revenue 20.43b Rupees Vs 15.96b (YoY); 15.9b (QoQ) Co Recommended A Final Dividend Of 3 Rupees Per Equity Share

Gujarat Industries Power : Q4 Sl Net Profit 651m Rupees Vs 547m (YoY); 341m (QoQ) Q4 Revenue 4.2b Rupees Vs 2.9b (YoY); 3.76b (QoQ) Co Recommended Dividend Of 3.75 Rupees Per Equity Share

News and Impact

News and Impact 

 

 

·      Expects market to open on a strong note on account of across the global markets rally after resolved on overhang US debt ceiling negotiation. Global equity markets welcome on US debt selling deal after White House and Republican negotiators reached a tentative agreement to raise the nation’s debt ceiling. As a result, Asian market, US Future gained between 1-2% boosted sentiment after the President Joe Biden and House Speaker Kevin McCarthy voiced confidence their tentative agreement will pass Congress, where it will be voted on as early as Wednesday. US market is shut today. Back home, SGX Nifty is up nearly 170 points or 1%. Strong FIIs inflow and IMD forecast of normal monsoon will be positive for the market sentiment. Moreover, impressive quarterly results, favourable government policy, stable oil price and strong macro data will help domestic market to touch near record high as the Nifty is just 2% or 380 points away from the record high. Strong participation by FPI during the month of May due to FPI investment hits 6-Month high in May. Expects positive for FMCG and Auto stocks on hope of good monsoon and ahead of auto monthly sales to be release this week. Beaten down metal stocks expected to be bounce back on account of favourable risk-reward and hope of improve global demand ahead of US debt ceiling negotiation. IT stocks expected to be positive after global IT major Index Nasdaq Composite surged to nearly 13-month high.

 

·      US Market - Equities rebounded sharply on Friday amid signs of progress on debt-ceiling negotiations, which offset a slew of economic data signaling additional interest-rate hikes could be coming. The S&P 500 Index climbed 1.3% in a broad-based rally. Nasdaq Composite climbed up by 2% while Dow Jones gained 1%. Investors bet Friday that the impasse over a debt ceiling

·      in Washington may be nearing an end, with Republican and White House negotiators reportedly moving closer to an agreement to raise the debt limit and cap federal spending for two years.

 

·      Global market summary – Global market gained after  the US Officials agree on tentative debt negotiation deal, US Volatility Index declined 7% on Friday. The deal reached late Saturday includes a two-year appropriations agreement that keeps non-defense spending roughly flat with current levels, a person familiar with the deal said, speaking on condition of anonymity. It also suspends the debt limit through January 2025 — after the next presidential election.

 

·      Asian Market – US stock futures and Asian equities advanced as appetite for risk taking returned to global markets following the deal between President Joe Biden and House Speaker Kevin

·      McCarthy on the US debt ceiling. Japan, Taiwan, South Korea and Australia Index gained 1% each.

 

·      European Market – European stocks jumped the most in two months on Friday as optimism increased about an agreement to end the US debt-ceiling impasse, while technology shares extended their rally. UK, Germany and France Index gained over 1% each.

 

·      Oil –  Oil prices rose 2% to $77/bbl Oil advanced after President Joe Biden and House Speaker Kevin McCarthy reached a tentative deal over the weekend on the US debt ceiling, likely averting a catastrophic default.

 

·      Gold –   Gold fell to the lowest in two months after revisions to US data pointed to the robustness of the economy, cementing bets on more monetary tightening this year.

 

·      Previous Day market Update – There was renewed buying in the Index heavyweight Reliance Industries, Hindustan Unilever, TCS, Maruti, Sun Pharma and HCL Tech that lifted Nifty nearly 1% to close nearly 18500 mark. IT, metal, FMCG, capital goods, mid-cap and small cap stocks were major gainers today. FMCG, Nifty mid-cap and small cap  sectors closed on all time high. Sentiment boosted after the IMD said that Southwest monsoon seasonal (June to September) rainfall over the country as a whole is most likely to be normal (96 to 104% of Long Period Average (LPA). impressive June series F&O roll over and continued FIIs buying interest also added fuel in the market. FIIs over Rs20000cr net buyers this month (May) while Nifty June rollover reported at 71% vs 3 months average at 70%. Signs of progress in US debt-ceiling talks, an advance in US and Asian equities and better than expected US Q1 GDP data and Jobless claim lifted global markets. Sensex jumped 629 points or 1 per cent to settle at 62,502. During the day while Nifty climbed 178 points or 1 per cent to end at 18,499. Previous day, both FIIs and DIIs were net buyers Rs350cr and Rs1841cr respectively

·      Nifty Technical Levels -  Nifty formed a Bullish candle on daily scale and gave the highest daily close of the last 110 sessions. Index has been witnessing buying interest at key levels which is keeping the overall momentum intact to commence the next leg of rally. It formed a Bullish candle on weekly frame and has been forming higher highs from the last nine weeks. Now it has to hold above 18442 zones, for an up move towards 18600 and 18888 zones while on the downside support exists at 18333 and 18281 zones.

·      Bank Nifty Technical Levels – Bank Nifty negated the formation of lower highs - lower lows on daily scale after two sessions and formed a Bullish candle. On weekly scale it formed a Bullish Pin Bar with long lower shadow as buying is visible at lower zones. Now it has to continue to hold above 43750 zones for an up move towards 44144 then 44500 zones while on the downside support exists at 43600 then 43500 zones.

 

·      Actionable BUY – Sun Pharma, Reliance Industries, Info Edge, Aurobindo Pharma, Mindtree. Tata Motor

 

·      Brokers Radar –  M&M – CLSA TGT at 1700, Morgan Stanley TGT at 1578, JP Morgan TGT at 1585. Morgan Stanley TGT on ONGC 218. Grasim – TGT by Morgan Stanley at 1910 and Jefferies TGT at 2105. Sun Pharma – Morgan Stanley TGT at 1170.

 

·      Results –   Adani Transmission, Allcargo, Hedielbag Cement, Hikal, Jindal Poly, IRCTC, Ipca Labs, ITI, Jindal Poly, Kovai Medical, Jub,ianl Pharmo, Lakshmi Mills, Monte Carlo, Nocil, Natco Pharma, OnMobile Global, Specialty Restaurant,  SML Isuzu, Star Paper, Torrent Power, TCNC Clothing,  RITES, PFC sign MoU to foster collaboration in Transport & Logistics and other infra sectors 

 

·      Corporate Action  ex-dividend - M&M Forging Rs6, Anand Rathi Wealth Rs7

 

·      Global Data – US market is shut today

 

·      Market Summary – General Atlantic and Advent closer to buying Everstone's Burger King stake, Baring EQT set to buy HDFC's education loan arm Credila for up to $1.5 billion, IMD Forecast normal monsoon this year, NCLAT directs NSE, BSE to review grant of NOC on Zee –Sony Merger, Sun Pharma, Aurobindo Pharma, Samvardhana Motherson, Global Health, Info Edge and JK Cement announced impressive Q4 results. ONGC announced lower than expected Q4 results. Gravita expands capacity of its Chittoor Plant. Sun Pharma to acquire Taro's 100% stake in all-cash

 

·      Baring Private Equity Asia (BPEA) EQT is set to acquire Credila Financial Services, the educational loan arm of Housing Development Finance Corp (HDFC), for $1.3-1.5 billion (Rs 10,000 crore-12,000 crore), trumping private equity rivals Carlyle, TA Associates, Blackstone and CVC Capital, among others, said people in the know. – ET Report – positive

 

·      Restaurant Brands Asia (RBA) - General Atlantic and Advent International are at an advanced stage in their bid to acquire private equity firm Everstone Capital's 40.9% stake in Restaurant Brands Asia (RBA), which operates fast-food chain Burger King in India, said executives aware of the matter.

 

·      Sun Pharma – Company  has offered to acquire the outstanding shareholding in its US subsidiary, Taro Pharma for around $300 million through a reverse triangular merger. In the all cash deal, Sun Pharma will acquire the shares at a price of US $38 per ordinary share, which will be payable in full at the close of the proposed transaction.

 

·      Focus on FMCG, Auto and Fertilizer stocks on ahead of normal monsoon - IMD said that Southwest monsoon seasonal (June to September) rainfall over the country as a whole is most likely to be normal (96 to 104% of Long Period Average (LPA). – expects Positive FMCG (HUL, Dabur India, Tata Consumers, Britannia), Auto (M&M, Escorts, Hero Motocorp, Maruti) and Fertilizer (GSFC, GNFC)

 

·      FPI investment Hits 6-Month High in May - Foreign investors have made a noteworthy investment in Indian equities, totaling Rs 37,316 crore from May 2 to May 26, 2023, marking the highest level of investment in six months.

 

·      Moody's changes Jaguar Land Rover's outlook to positive from stable; B1 ratings affirmed -  Moodyʼs Investors Service (Moodyʼs) has changed Jaguar Land Rover Automotive Plcʼs (JLR) outlook to positive from stable.- positive

 

·      Engineers India – Company’s order book at Rs4708cr as of March 31 – Positive

 

·      Zee Entertainment- Appellate tribunal set aside an order from a court in Mumbai that had asked exchanges to reconsider their approval of the company’s merger with Sony.  The National Company Law Appellate Tribunal said that the lower tribunal’s May 11 order was passed without adequate hearing from Zee – positive

 

·      Reliance - India’s biggest company Reliance Industries is seeking to dominate the country’s $10bn online domestic fashion market, striking a deal with Shein that will allow the rapidly growing Chinese retailer to return to the world’s most populous nation. – positive

 

·      Adani Green – Company commissions 130MW wind power plant at Kutchh. Company’s operational wind generation capacity crosses 1GW.

 

·      Mphasis – Company announced its strategic partnership with Kore.ai, the world’s leading enterprise conversational AI platform and solutions company, to bolster its offerings to transform customer experience management and employee engagement for their enterprise clients. - positive

 

·      BHEL – Company names Jai Prakash Srivastava as CFO – Positive 

 

·      Aurobindo Pharma has received the final approval from the U.S. FDA) to manufacture and market Carboprost Tromethamine Injection USP 250 mcg/mL, single-dose vials – positive

 

·      Dalmia Cement: Subsidiary Dalmia Cement (North East) has approved capital expenditure to the tune of Rs 3,642 crore for setting up new clinkerisation unit of 3.6 MTPA at Umrangso unit, and new cement grinding unit of 2.4 MTPA at Lanka unit. The said capex will be funded via a mix of debt, equity & internal accruals and the proposed capacity is expected to be added by FY25-26.- positive

 

·      Adani Wilmar said it has entered into the whole wheat category with its brand Fortune. The company guarantees to provide premium wheat seed varieties such as Sharbati, Poorna 1544, Lokwan, and MP Grade 1. It aims to consistently increase market share and expand into high-value metro markets such as New Delhi, Mumbai, Pune, Surat and Ahmedabad.

 

·      Aster DM Healthcare -Board is in the process of reviewing proposals from potential buyers for the sale of ‘Gulf Co-operation Council' (GCC) region business. The binding bids are likely to be received by end of June quarter of financial year 2023-2024. Disclosures will be made subject to board's approval. GCC revenue for the said quarter includes Covid testing and vaccination income of six crore rupees, as compared to Rs 217 crore in the same period of the previous fiscal. – Long term positive.

 

·      Ethos: Subsidiary Silvercity Brands AG has acquired 100% stake in Swiss-based Favre Leuba GmbH. Now Favre Leuba GmbH has become the wholly owned subsidiary of the Silvercity Brands AG and thereby, step - down subsidiary of Ethos with immediate effect. - positive

 

·      RITES and PFC – Company has signed a MoU with PFC to explore avenues of mutual collaboration for consultancy works in sectors such as Transport & Logistics, Energy, Water & Sanitation, Communication, Social and Commercial Infrastructure. As part of the MoU, RITES will provide expertise for Pre-Feasibility Reports, Detailed Project Reports, Transaction Advisory, Project Management services, Audits, and Inspection, where PFC and its subsidiaries propose to provide financial assistance for infrastructure projects in India and abroad. – positive

 

·      Alfa Transformers – Company has been awarded 500 KVA LINE VOLTAGE REGULATING TRANSFORMERS orders from TATA POWER – positive

 

·      Gravita India - Company has increased capacity of its existing recycling unit situated at Chittoor, Andhra Pradesh ("Facility"). The existing capacity of said unit for Battery recycling has been increased by 26,440 MTPA bringing the total capacity of Battery recycling of this unit to 64,640 MTPA. – Positive

 

·      Praveg Ltd forms subsidiary in Tanzania, subsidiary is incorporated to carry on the business of Tourism, Hospitality and to do all other allied and incidental activities in this regard.- positive

 

·      Ward Wizard Ltd – Company has launched five new delectable items to its already impressive menu at all of its outlets. The new menu includes a variety of delicious and mouth-watering dishes that are sure to tantalize the taste buds of foodies across the country.

 

·      IPO-bound Yudiz Solutions - A blockchain, AI, and gaming focussed enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approx Rs8cr to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.

 

·      Reliance Industries: Step-down FMCG subsidiary Reliance Consumer Products completed the acquisition of a 51% controlling stake in Lotus Chocolates for an aggregate consideration of Rs 74 crore and subscribed to non-cumulative redeemable preference shares of the company for Rs 25 crore.

 

·      Dividend  - Grasim Rs10, Info Edge Rs9,  M&M 16.25, dividend Rs9, Grasim Rs10, Finolex Cable Rs7. Chambel Fertilizer Rs3, HUDCO Rs3.10, Bharat Bijlee Rs40, Styrenix Performance Rs24, Repco Home Rs2.70, Alphageo Rs8, Sal Automotive Rs4, Garware Hi-Tech Rs10, Finolex Cable Rs7, Nucleus Software Rs10, Ambika Cotton Rs35, BEML Rs5

 

·      BHEL announced Q4 net profit Rs611cr (down 33% YoY), Ebitda Rs1098cr (down 13.7% YoY), and Income Rs8062cr (down 2% YoY)

 

·      Engineers India announced impressive Q4 results. Company reported Q4 net profit Rs190.8cr (down 140.33% YoY), Ebitda Rs211.8cr (up 39% YoY), and Income Rs880.10cr (up 7.6% YoY)

 

·      Nucleus Software Q4 Income Rs206.2cr (up 22% QoQ), Ebitda Margin at 40.2% vs 28.3% (QoQ), Ebitda Rs82.8cr (up 72.9% QoQ) and net profit Rs67.6cr (up 72% QoQ)

 

·      KPI Green Q4 Income Rs182.4cr (up 183% YoY) and net profit Rs31.7cr (up 217% YoY)

 

·      Finolex Cable Q4 net profit Rs175cr (down 22% YoY), Ebitda Rs145.7cr (up 21.7% YoY) and income Rs1224cr (up 3.2% YoY)

 

·      Samvardhana Motherson announced better than expected Q4 results. Company reported Q4 Income Rs22476cr (up 31% YoY) – Expectation Rs21525cr, Ebitda Margin at 9% vs 7.3% (YoY) – expectation 7.7%, Ebitda Rs2020.7cr (up 59.7% YoY) – expectation Rs1647.9cr and net profit Rs654cr (up 436% YoY) – expectation Rs458.5cr

 

·      Infoedge announced strong Q4 results.  Q4 Income Rs604.7cr (up 1.6% QoQ) – Expectation Rs559cr, Ebitda Rs220.3cr (down 1.7% QoQ) – expectation Rs205cr, Ebitda margin flat at 39% (QoQ) – Expectation 36.5% and net profit 178.9cr vs loss Rs84.3cr – expectation Rs180cr

 

·      M&M Q4 Income Rs22571.4cr (up 31% YoY) – Expectation Rs22229.8cr, One time loss Rs512cr vs gain Rs125cr, other Income Rs334cr (up 45% YoY) – Expectation Rs213.1cr, Ebitda Margin at 12.4% vs 11.2% (YoY) – expectation 12.4%, Ebitda Rs2797.4cr (up 44.5% YoY) – expectation Rs2760.5cr, raw materials cost Rs16758cr (up 38% YoY) and net profit Rs1549cr (up 221% YoY) – expectation Rs1576.2cr

 

·      Grasim Q4 Income Rs6645.8cr (up 4.2% YoY) – Expectation Rs6250cr, Ebitda Margin at 6.4% vs 11.8% (YoY) – expectation 11.5%, Ebitda Rs426cr (down up 43.4% YoY) – expectation Rs720cr and net profit Rs93.5cr (down 88.5% YoY) – expectation Rs320cr

 

·      Sundaram Finance Q4 net profit Rs433.2cr (up 27.4% YoY) and Income Rs1483.6cr (up 16.7% YoY)

 

·      Sun Pharma Net profit Rs1984.5cr (up 25.4% YoY) – Expectation Rs2100cr, Ebitda Margin at 25.6% vs 24.8% (YoY) – expectation 25.8%, Ebitda Rs2803cr (up 19.7% YoY) – expectation Rs2886.7cr and Income Rs10930.6cr (up 15.7% YoY) – expectation Rs11188.6cr

 

·      Global Healthcare announced strong quarterly results and Ebitda margin. Company reported Q4 Net profit Rs101.3cr (up 477.6% YoY), Ebitda Rs165.9cr (up 112.2% YoY), Ebitda margin 23.6% vs 15% (YoY) and Income Rs703.4cr (up 35.2% YoY)

 

·      Aurobindo Pharma announced better than expected Ebitda and Ebitda margin. Company reported Q4 Net profit Rs505.7cr (down 10.3% YoY) – expectation Rs493.1cr, Ebitda Rs1002.2cr (up 2.9% YoY) – expectation Rs945.9cr, Ebitda margin 15.5% vs 16.8% (YoY) – expectation 15.5% and Income Rs6473cr (up 11.4% YoY) – expectation Rs6321.1cr

 

·      JK Cement Ebitda in line with expectation and Ebitda/pt in line with expectation. Company reported Q4 consolidated EBITDA/t at Rs748 (estimates Rs753).  Net profit Rs122.1cr (down 38.1% YoY) – expectation Rs135.6cr, Ebitda Rs349.5cr (up 9% YoY) – expectation Rs339.2cr, Ebitda margin 12.6% vs 16.2% (YoY) – expectation 13% and Income Rs2777.9cr (up 18.1% YoY) – expectation Rs2606.4cr

 

·      Indigo Paints announced in line with expected income while reported  better than expected Ebitda margin. Company reported Q4 Net profit Rs48.7cr (up 40.7% YoY) – expectation Rs34.9cr, Ebitda Rs71.7cr (up33.4% YoY) – expectation Rs51.5cr, Ebitda margin 22% vs 18.60% (YoY) – expectation 16.2% and Income Rs325.5cr (up 12.9% YoY) – expectation Rs317.6cr

 

·      ONGC announced lower than expected Ebitda due to higher other expense . Company reported Q4 Net loss Rs250cr vs profit Rs8860cr (YoY) while adjusted profit Rs2090cr – expectation Rs10930cr, Exceptional items Rs9240cr  (due to on-going dispute regarding applicability of service tax and GST on Royalty), Ebitda Rs16340cr  (down 20% YoY) – expectation Rs20960cr, other expenses Rs8960cr vs 4540cr (QoQ) – adjusted exceptional loss Rs9240cr, Ebitda margin 22% vs 18.60% (YoY) – expectation 16.2% and Income Rs36290cr (up 5% YoY) – expectation Rs38060cr

 

NIFTYVIEW

 *NIFTYVIEW*

🎯 NIFTY likely to *open or Around 18578-18614*

🎯 NIFTY is likely to see *RESISTANCE or around 18633-18696-18729*

🎯 NIFTY KEY *SUPPORT lies 18529-18459-18338*

 

🎯Fellas *Nifty is now approaching towards 19000 as it is likely to give good gap up opening following fabulous closing on Friday Bulls are likely to roam DalaalStreet & is likely to test 18700 today itselfAs of now 18200 becomes crucial support BankNifty is likely to head for 45800 this week Use all dips to add longs NiftyAuto is likely to show resistance or around 18200-18300 kind of levels this week NiftyIT is likely to continue its outperformance  As it is likely to test 30450 this week DowFutures once gives any close above 33300 we may get to see 34000+ kind of levels this week

Fellas *USDINR may positionally test 82

Stock on radar HDFC

*🟢Disclaimer: Our clients may or may not have interest in the above stock🙏*

Market Indication

Market Indication:

Global:  POSITIVE

NIFTY: POSITIVE

BANKNIFTY:  POSITIVE

BULK Deals: PB Fintech etc.

Stocks In F&O Ban Period: Nil

Results Today: Ipca Laboratories, Indian Railway Catering and Tourism Corporation, Adani Transmission, Allcargo Logistics, Ansal Housing, Bajaj Hindusthan Sugar, Campus Activewear, Force Motors, HeidelbergCement India, Hikal, ITI, Jubilant Pharmova, KNR Constructions, Natco Pharma, NBCC (India), NHPC, The New India Assurance Company, Rail Vikas Nigam, Shriram Properties, Sobha, Speciality Restaurants, TCNS Clothing, Torrent Power, Vadilal Industries, Vijaya Diagnostic Centre, and Zee Media Corporation

SGX NIFTY:  (Positive)

18716     +168.00    +0.91%

STOCKS IN ACTION 29 MAY

STOCKS IN ACTION 29 MAY 

Reliance Industries: Reliance Consumer Product, the FMCG arm of the company, partnered with U.S.-based General Mills to launch international corn chips snacks brand Alan’s Bugles in India.

Tata Motors: Moody’s Investor Service changed outlook for the company to positive from outlook over robust credit metrics and affirmed its B1 rating.

Central Bank of India: RBI imposed a penalty of Rs 84.50 lakh on Central Bank of India for failing to report certain accounts as fraud and recovering SMS alert charges from customers on flat basis.

HDFC: Market regulator SEBI has granted final approval for the proposed change in control of HDFC Capital Advisers in its capacity of an investment manager of the HCARE Funds and investment manager cum sponsor of HDFC Build Tech Fund.

Lupin: The company received approval from Health Canada to market generic version of tiotropium bromide inhalation powder under the name Spiriva for treatment of chronic obstructive pulmonary disease in Canada.

Godrej Properties: The company increased stake in Wonder City Buildcon to 100% from 74%, acquiring 2.9 crore shares (26% of overall shareholding) for Rs 45.13 lakh.

RITES/Power Finance Corporation: RITES and Power Finance Corporation signed an MoU to explore avenues of mutual collaboration for consultancy works in transport and logistics, energy, water and sanitation, communication, social and commercial infrastructure.

GAIL/Axis Bank: GAIL (India) has partnered with Axis Bank to digitise bank guarantees under Society for Worldwide Interbank Financial Telecommunication

NCC: appoints Sanjay Pusarla as Chief Financial Officer w.e.f. June 1

Ion Exchange (India) Q4 Result

Ion Exchange (India) Q4 Result 

Net profit down 1.7% at Rs 81.7 cr Vs Rs 83.1 cr (YoY)

Revenue up 30.4% at Rs 647.5 cr Vs Rs 496.4 cr (YoY)

EBITDA up 12% at Rs 106.4 cr Vs Rs 95 cr (YoY)

EBITDA Margin at 16.4% Vs 19.1% (YoY)

*Board recommends a #dividend of Rs 12.50/share for #FY23*

GODFREY PHILLIPS INDIA Q4 RESULTS

GODFREY PHILLIPS INDIA Q4 Result 

NET PROFIT RUPEES 1.47B VS 1.03B (YOY); 1.99B (QOQ) 

REVENUE RUPEES 9.6B VS 8.5B (YOY); 11B (QOQ)

 EBITDA RUPEES 1.52B VS 1.6B (YOY) 

EBITDA MARGIN 15.61% VS 19.21% (YOY)

*CO APPROVED DIVIDEND OF 44 RUPEES PER SHARE*

LUMAX INDUSTRIES Q4 RESULTS

LUMAX INDUSTRIES Q4 Result 

NET PROFIT 207M RUPEES VS 285M (YOY); 295M (QOQ) 

EBITDA 489M RUPEES VS 574M (YOY) 

EBITDA MARGIN 8.04% VS 10.46% (YOY)

*CO APPROVED DIVIDEND OF 27 RUPEES PER SHARE*

KARNATAKA BANK Q4 Result

KARNATAKA BANK Q4 Result 

NET PROFIT 3.54B RUPEES VS 1.3B (YOY); 3.01B (QOQ)

INTEREST EARNED 19.69B RUPEES VS  15.79B (YOY);  18.51B (QOQ) 

PROVISIONS 2.53B RUPEES VS 1.65B (QOQ) 

GNPA 3.74% VS 3.28% (QOQ)

NNPA 1.70% VS 1.66% (QOQ)

*CO RECOMMENDED A DIVIDEND OF 5 RUPEES PER EQUITY SHARES*

Lakshmi Machine Works Q4 Result

Lakshmi Machine Works Q4 Result 

Net profit up 13.74% at Rs 94.1 crore 

Revenue up 30.5% at Rs 1,303.04 crore 

Ebitda up 30.44% at Rs 118.26 crore 

Ebitda margin at 9.08% vs 9.08% 

*The company announced dividend of Rs 98.50 per share.*

STOCKS IN ACTION 25 May

STOCKS IN ACTION 25 May

Shreyas Shipping And Logistics: Board Provided Its Consent To The Delisting Proposal 

Floor Price Of The Delisting Offer Is Rupees 292 Per Share

J.B.Chemicals& Pharmaceuticals: Approved Sub-Division/Split Of Existing Equity Shares 

Split Of Shares Of Face Value 2 Rupees To Shares Of Face Value 1 Rupees

B L Kashyap and Sons bags an order worth Rs 132 cr

Garden Reach Shipbuilders: Entered Into A Contract With Indian Navy 

Order At A Cost Of 2.49b Rupees

Tata Motors: Jaguar Land Rover To Pick UK Over Spain For Giant Car Battery Plant - BBC

Wipro Engineering Edge partners with SpartanRadar to enhance assisted & automated driving solutions on its Cloud car platform

Adani Ports and Special Economic Zone: The company will make long-term investment of $10 billion in Vietnam, including $3 billion in ports and wind and solar power projects.

HDFC AMC gets final nod from Sebi for change in control due to merger

Gujarat Gas cuts industrial gas price to Rs 38.43/scm from June 1

SAIL: Boardmeet Today 

Along with results board to consider final dividend for FY’23

MAHINDRA CIE AUTOMOTIVE: Large Trade

MAHINDRA & MAHINDRA LIMITED

Sold 1,21,22,068 Shares @ Rs 447.65/ Share

Market Indication

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY: FLAT to NEGATIVE

BULK Deals: Salzer Electronics, Safari Industries, Mahindra CIE Automative etc.

Stocks In F&O Ban Period: Delta Corp, Indiabulls Housing Finance

Results Today: Zee Entertainment Enterprises, AIA Engineering, Aster DM Healthcare, Bharat Dynamics, Dredging Corporation of India, eClerx Services, Emami, General Insurance Corporation of India, GMM Pfaudler, Gujarat State Fertilizers & Chemicals, Vodafone Idea, Indian Energy Exchange, Infibeam Avenues, Indian Railway Finance Corporation, ITD Cementation, Kolte-Patil Developers, Max India, Mishra Dhatu Nigam, Page Industries, Radico Khaitan, Steel Authority of India, Shilpa Medicare, Strides Pharma Science, Triveni Engineering, and TTK Prestige

SGX NIFTY: (Negative)

18245 -38.50 -0.21%

News and Impact

News and Impact 

 

 

·      Mixed bag opening in the Asian markets and strong gained Nasdaq Future may open domestic market on a flat note despite sharp decline in US and European market yesterday. Nasdaq Future climbed up nearly 200 points or 1.5% after one of the largest semiconductor player Nvidia gave a bullish revenue outlook for the current quarter on booming demand for artificial intelligence processors. Its shares soared more than 25% in late trading. Overnight, US market declined over half percent and European markets ended 2-month low (down 2%) as debt-ceiling concerns weighed on investors sentiment for a second day and hotter-than-expected UK Inflation. Among the Minutes of meeting outcome, US Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further. US Dollar Index surged to 2-month high and US Vix gained 8% to close above 20 level. Fitch Ratings said it may downgrade the US’s AAA credit rating which is a also concern in the global markets. SGX Nifty declined by 45 points or quarter percent. Domestic sentiment remain bullish due to strong FIIs buying interest and impressive quarterly results. FIIs were net buyers yesterday over Rs1000cr and nearly Rs20000cr during the month of May, highest since last five months. Yesterday, Sensex decline over 200 points but BSE Mid-cap Index closed on a record high. Moreover, Nifty 500 stocks advance decline ratio was 1:1. Expects, rally on mid-cap and small cap stocks to be continue due to good quarterly results and stock specific action to continue. Intra-day volatility may not be ruled out on ahead of May series F&O expiry today. US Q1 GDP data will be release today. Expects weakness in the metal stocks due to base metal price on LME fell to 3-6 months low. IT stocks may positive after one of the largest global semiconductor player Nvidia announced strong quarterly results and a bullish revenue outlook. Government allowed the exports of broken rice may  be positive for rice exports companies. 

 

·      US Market –. US equities closed lower in New York trading as debt-ceiling concerns weighed on investors sentiment for a second day. Both Nasdaq and Dow Index declined over half percent each. Minutes from the Federal Reserve’s latest policy meeting did little to lift shares, with policymakers split on whether further interest-rate increases would be needed to tame inflation.

 

·      Global market summary – US Volatility Index (US Vix) close 2-week high of above 20 (gain 8%), European Market closed on a 2-month low, UK Inflation during the month of April at 8.7% while the expectation was 8.2%.  One of the largest semiconductor player Nvidia forecast sales in the three months ending July of $11 billion vs the analyst estimate of $7.18 billion. Base metal price on LME fell to 6-month low. US Dollar Index spiked to over 2-month high.

 

·      Asian Market – Asian markets are witnessing mixed bag. Asian semiconductor-related stocks climb after one of the largest semiconductor player Nvidia gave a bullish revenue outlook for the current quarter on booming demand for artificial intelligence processors. Its shares soared more than 25% in late trading.

 

·      US AAA Credit Rating May Be Cut by Fitch on Debt-Limit Impasse -  Fitch Ratings said it may downgrade the US’s AAA credit rating to reflect the worsening political standoff that’s preventing a deal to solve the nation’s debt-ceiling crisis.

 

·      European Market – -- European stocks fell the most in more than two months as a stalemate persisted in US debt-ceiling talks, while a hotter-than-expected UK consumer prices report rekindled concerns over inflation. UK Inflation during the month of April reported at 8.7% while the expectation was 8.2%. 

 

 

·      Oil –  Oil futures traded higher by 2% to $78/bbl after Saudi Arabia's energy minister warned of pain ahead for short sellers. Support also came from industry data showing a drop in U.S. crude and product inventories ahead of an official tally from the Energy Information Administration.

 

·      Gold –  Gold fell 1% to $1956/ounce as investors assessed progress on US debt-ceiling negotiations. President Joe Biden and House Speaker Kevin McCarthy called their discussions on Monday productive, but an agreement remains elusive.

 

·      Previous Day market Update - After a rally in the three trading sessions, equity benchmarks Index settled in negative territory following weakness in the global markets amid concern of US debt ceiling negation, hotter-than-expected UK inflation print and ahead of US Fed minutes of meeting to be release today. Traders were booking profit ahead of May series F&O expiry tomorrow which resulted India Vix surged by 4% today. Sentiment has been dampened on account of across the global markets along with US future decline after the U.S. debt-ceiling talks have failed to make sufficient progress and there are growing risks of a U.S. default. Moreover, surging UK Inflation during the month of April (April Inflation at 8.7% while the expectation was 8.2%) and the overnight US Vix spiked by 8% have negative impact in the market.  Sensex finished the day at 61,775, down by 208 points or 0.30% while Nifty shed by 63 points or 0.3% to close at  18,285. Banks and metal stocks were major losers today while Nifty Mid-cap and small cap Index managed to ended positive territory. Tyre stocks witnessed smart rally today. HDFC Bank, HDFC, ICICI Bank, and Reliance Industries among the major losers while ITC, Titan, Sun Pharma, and SBI Life among the major gainers today. Nifty 500 stocks advance decline ratio was 1:1. Yesterday, both FIIs and DIIs were net buyers Rs1186cr and Rs301cr respectively. 

 

·      Nifty Technical Levels -  Nifty formed a long pin bar on daily scale with higher upper shadow indicating pressure at higher zones. It negated its higher highs - higher lows formation of the last two sessions. Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones.

 

·      Bank Nifty Technical Levels – Bank has formed a small bearish candle on daily scale with upper shadow as selling pressure is seen at upper band of the range and it ended in negative territory below 43700 zones. Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks.

 

·      Actionable BUY – Engineers India, Zomato, NBCC, KRBL

 

·      Brokers Radar –  Hindalco – CLSA TGT at 530. Nykaa – Goldman Sachs TGT at 175, Nomura TGT at 183 and Macquarie TGT at 115. UBS TGT on Tata Motor at 450.

·      Events – May series F&O expiry, Whirlpool Results and board meeting for bonus.

 

·      Results –   AIA Engineering, Bharat Dynamics, Eclerx, Emami, FDC, Global Spirits, GMM Pfaudler, GSFC, IEX, Ingersoll Rand, Kolta-Patil, Lincon Pharma, Page Industries, Price Pipe, Radico Khaitan, Triveni Engineering, TTK Prestiage and Zee Entertainment,

 

·      Corporate Action  - Trent Rs2.20, Kennametal Rs20, Kansai Nerolac Rs2.70, SNL Bearing Rs6.50, NMDC Rs2.85, Roto Pumps Rs3.15, Polyplex Rs3, Amaraja Batteries Rs3.20, Galaxy Surfactants Rs4, Gandhi Special Tubes Rs12, Linde India Rs12, Jenburkt Pharma Rs14.40

 

·      Global Data – Initial Jobless Claims, Annualized GDP, Pending Home sales, Personal Consumption (US), Housing Price Index (UK). Business Confidence and Manufacturing Confidence (France). Private Consumption and Government Spending  (Germany)

 

·      Market Summary – Brigade Enterprise (BEL) reported highest ever bookings, Cummins India skipping guidance for FY24, Deepak Nitrite announces on $600M Capex Plan, Oberoi Realty Signs Pact to Acquire Land in Thane, RBI Rate Decision to Depend on Situation on Ground, Das Says. M & M sold entire 3.2% stake yesterday via block trades yesterday and sets offer price at Rs430-452.85 a share. M&M sold entire Mahindra CIE 3.2% stake yesterday via block deal, Hindalco, Cummins India announced lower than expected Q4 results, Bikaji Food announced impressive Q4 results. JB Chemical announced better than Bloomberg expected Q4 Ebitda 

 

·      Adani Group – Company commits to a total of about $10b in long-term investment into logistics, ports, energy and technology sectors in Vietnam – Long term positive

 

·      Garden Reach Shipbuilders – Company wins order worth Rs248.5cr– positive

 

·      Aptech – Company announced bonus in the ratio of 2:5

 

·      Cummins India - The company will not provide any guidance for fiscal year 2024 at this time considering the uncertainty related to the geopolitical and supply chain conditions that remain unpredictable – stock decline yesterday by 5% after the news

 

·      Wipro – Company announced a partnership between its Engineering Edge business line and Spartan Radar, an automated mobility sensor software provider, to build advanced vehicle solutions - Positive

 

·      Mahindra CIE – Mahindra CIE Automotive- Promoter, the Mahindra Group. M & M sold entire Mahindra CIE stake of 1.21cr shares, or a 3.19% stake at Rs 447.65 a share worth Rs520cr via block trades yesterday. Mahindra's stake in the automotive component supplier now stands at NIL – Positive

 

·      Deepak Nitrite announces on $600M Capex Plan - Deepak Nitrite announced a Rs5000cr ($600 million) capital expenditure plan. The company said it has signed a memorandum of understanding with India’s Gujarat state for setting up specialty chemicals, phenol and bisphenol units over the next four years

 

·      HG Infra – Company wins orders worth Rs42.5cr from NTPC - Positive

 

·      RBI Rate Decision to Depend on Situation on Ground, Das Says - India’s monetary policy decision will be based on the situation on ground, RBI Governor Shaktikanta Das said. “I’m driven by what’s happening on ground, what’s the outlook on ground, what are the trends, how is the inflation softening,” he said .  Indian banking system remains stable and resilient . India’s FY23 GDP growth could be more than 7%

 

·      Oberoi Realty Signs Pact to Acquire Land in Thane, India – Company has entered into a memorandum of understanding with NRB Bearings to acquire land of 25,700 square meters at Thane in Maharashtra. The real estate company has paid a portion of undisclosed amount of the consideration for the land. The balance will be paid on completion of the transaction, which is subject to certain terms and conditions – positive

 

·      Bajaj Electricals Expects Demand, Margin To Improve In Two Quarters - Bajaj Electricals Ltd. expects margins to improve in the next two quarters if commodity prices continue to ease and as consumption revives. As demand improves gradually, Prasad said, margins will also recover unless volatility in commodity prices reoccurs. – Positive

 

·      Route Mobile Targets Billion-Dollar Revenue In 3-4 Years On Cloud, AI Push - Route Mobile is on track to achieve a billion-dollar revenue run rate in the next three to four years, as communications platform-as-a-service increasingly becomes the backbone of the enterprise communications ecosystem. – Long term positive

 

·      JB Chemical – Company announced stock split each share into two. Company announced impressive Q4 results - Positive

 

·      Dividend – Hindalco Rs3, Cummins India Rs13, JB Chemical Rs9.25

 

·      BLS International - Overseas travel boom takes Indians' foreign currency spends to record highs - Overseas travel after the pandemic has risen to record highs and so has the foreign currency spends by Indians. The overall foreign currency spends by Indians rose by $7.5 billion to a record high of $27.1 billion in FY23. Foreign currency spends were at about $19.6 billion in FY22 and $12.7 billion in FY21 largely due to subdued travel amid the pandemic. With the waning of the pandemic, there has been a surge in overseas travel, which jumped to $13.7 billion in FY23, an increase of 97% from $6.9 billion in FY22, the report showed. – Positive on BLS International

 

·      India Cement Q4 Net loss Rs217.8cr vs loss Rs237.1cr – expectation loss Rs140cr, one time loss Rs114cr, other income Rs18.42cr (up 291% YoY), Ebitda loss Rs44.5cr vs profit Rs60cr (YoY) – expectation loss Rs60cr and Income Rs1460.5cr (up 4.9% YoY) – expectation Rs1400cr

 

·      Bikaji Food announced better than Bloomberg estimates Q4 results. Company reported Q4 Revenue up 15.49% at Rs 462.26 crore (Bloomberg estimate: Rs 511.60 crore), Ebitda up 52.39% at Rs 61.84 crore (Bloomberg estimate: Rs 55.80 crore),  Ebitda margin at 13.38% vs 10.14% (Bloomberg estimate: 10.9%) and Net profit up 57.12% at Rs 38.29 crore (Bloomberg estimate: Rs 33 crore)

 

·      Hindalco Consolidated Q4 Net profit Rs2418cr (down 37% YoY) – expectation Rs2300cr, Ebitda at Rs5820cr (down 20% YoY)- expectation Rs6100cr, Ebitda margin 9.5% vs 13.1% (YoY) – Expectation 11.4% and Income Rs55860cr (up 0.2% YoY) – expectation Rs53500cr

 

·      Cummins India Q4 Net profit Rs318.5cr (up 69% YoY) – Bloomberg expectation adj. net profit Rs345cr, Ebitda Rs326cr – Bloomberg expectation Rs335cr, Ebitda margin at 17%  vs 13.8% (YoY) and Income Rs1926cr (up 29% YoY) – Bloomberg expectation Rs2021cr

 

·      Nykaa Q4 Net profit 2.4cr (down 72% YoY) – Bloomberg estimates Rs9.76cr, Ebitda Rs70.6cr (up 84% YoY) – estimates Rs70.70cr, Ebitda margin 5.4% vs 4% (YoY) and Income Rs1300cr (up 34% YoY) – Bloomberg estimates Rs1351cr

 

·      JB Chemical announced better than Bloomberg expected Q4 Ebitda. Company reported Q4 net profit 87.63cr (up 3.3% YoY) – Bloomberg expectation Rs102cr, Ebitda Rs181cr (up 21% YoY) - Bloomberg expectation Rs175cr, Ebitda margin flat at 23.8% vs 23.8% (YoY) and Income Rs762cr (up 22% YoY) – Bloomberg expectation Rs762cr

 

·      Brigade Enterprise (BEL) reported highest ever bookings of Rs1490cr  up 47% (YoY ) - 26% above estimate. Company reported Q4 Revenue Rs842cr (down 11% YoY)- expectation 949.4cr, EBITDA Rs202cr (up 1% YoY) – Expectation Rs255.7cr, Ebitda margin at 24% vs 21.8% - expectation 26.9% , PAT reported Rs70cr while adjusted for exceptional gain of Rs17cr, PAT stood Rs50cr (up 5.3% YoY) – expectation Rs94.7cr

 

·      Aptech announced strong Q4 results. Company reported Q4 net profit Rs33.35cr (up 88% QoQ) and Income Rs181.5cr (up 51% QoQ).

 

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap down and was followed by buying interest but it failed to surpass 18400 zones and slipped in the next half of the session. It cascaded down most part of the day and it closed with losses of around 60 points. It formed a long pin bar on daily scale with higher upper shadow indicating pressure at higher zones. It negated its higher highs - higher lows formation of the last two sessions

◆ Now it has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside supports exist at 18181 and 18081 zones

◆ India VIX was up by 4.07% from 12.60 to 13.11 levels. Volatility has been rising from the last three sessions and causing swings in the market

◆ On Option front, monthly maximum Call OI is at 18400 then 18500 strike while maximum Put OI is at 18300 then 18200 strike. Call writing is seen at 18400 then 18300 strike while Put writing is seen at 18200 then 18300 strike. Option data suggests an immediate trading range in between 18150 to 18400 zones

◆ Bank Nifty opened on a negative note but gradually recovered its intraday losses and extended its movement towards 44000 zones in the first half of the session. Later it failed to hold 44000 zones and drifted lower towards 43650 zones in the last hour of the session. Index has got stuck in between 43333 to 44144 zones from the past ten trading sessions and follow up is missing on either side. It has formed a small bearish candle on daily scale with upper shadow as selling pressure is seen at upper band of the range and it ended in negative territory below 43700 zones

◆ Now it has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks

◆ Bullish setup in Deepakntr, L&TFH, Syngene, Havells, Mcdowell, Apollo Tyre, Indusind Bank, Indhotel, Coal India, ITC, Heromotoco, TVS Motor, BEL, Maruti, IOC, AU Bank and Axis Bank

◆ Bearish setup in Cummisnind, India Cement, Jindalstel, Federal Bank, ZEEL, HDFC Bank, HDFC Ltd and Kotak Bank

Derivatives update 25 May 2023

*Derivatives update*

Good morning !! Derivatives update for Thursday, 25th May 2023.

India VIX was up by 4.07% from 12.60 to 13.11 levels. Volatility has been rising from the last three sessions and causing swings in the market.

Nifty *Put/Call Ratio* (OI) decreased from 1.20 to 1.01 level. 

On Option front, monthly maximum Call OI is at 18400 then 18500 strike while maximum Put OI is at 18300 then 18200 strike. Call writing is seen at 18400 then 18300 strike while Put writing is seen at 18200 then 18300 strike.

*Option data suggests an immediate trading range in between 18150 to 18400 zones.*

For weekly Bank Nifty, Maximum Put OI is at 43500 then 43000 strike and maximum Call OI is placed at 44000 then 45000 strike. We have seen significant Call writing 43900 and Put writing is witnessed at 43500 and unwinding at 44000 strike. 

Bank Nifty Put Call Ratio decreased from 0.98 to 0.76 Implied volatility rose from 14.02 to 14.04 levels.

Bank Nifty (CMP 43,677.85)

Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44144/44250 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, call selling & put buying in index options and long built up in stock futures.

In the cash market, FIIs were net buyers to the tune of 1186 crores while DII’s were net buyers worth 301 crores. FIIs Index Long Short Ratio decreased to 49.12%.

Derivatives data and price set up suggests, Nifty has to hold above 18281 zones, for a bounce towards 18400 and 18442 zones while on the downside support exists at 18181 and 18081 zones.

Bank Nifty has to hold above 43750 zones for a bounce towards 44144 then 44250 zones while a hold below the same could see some weakness towards 43500 then 43333 marks.

Thank you. Have a great trading day and monthly expiry ahead..!!

Hawkins Cookers Q4 Result

Hawkins Cookers Q4 Result 

Net profit up 6.7% at Rs 22.8 cr Vs Rs 21.4 cr (YoY)

Revenue down 6.6% at Rs 253.9 cr Vs Rs 271.8 cr (YoY)

*Board recommends a dividend of Rs 100/share*

Aptech reports Q4 earnings

Aptech reports Q4 earnings.

◼️Net profit up 31% at Rs 33.4 cr Vs Rs 26 cr (YoY)

◼️Revenue at Rs 178.5 cr Vs Rs 64.7 cr (YoY)

*◼️Board approves #Bonus issue in the ratio of 2:5*

AVANTI FEED Q4 Result

AVANTI FEED Q4 Result 

NET PROFIT AT 93 CR V 84 CR (YOY)

REVENUE AT 1093 CR V 1332 CR

EBITDA AT 134 CR V 118 CR *YOY

MARGINS AT 12.3 % V 8.8 %

*DIVIDEND 6.25/share*

STOCKS IN ACTION 24 May

STOCKS IN ACTION 24 May

TTK Healthcare: Says Shareholders Approve Delisting Proposal

Adani Green Energy: The board meeting scheduled on May 24 to consider raising funds was cancelled due to non-availability of directors. The next date of meeting will be announced later.

Century Textiles board approves fundraising upto Rs 400 cr via NCDs in one or more tranches on a private placement basis

Varun Beverages incorporates South African wholly-owned subsidiary to explore manufacturing & distribution business of beverages

Trent incorporates new JV company with MAS Fashion to manufacture intimate apparel in India

Shriram Properties acquires a new project in Chennai with a revenue potential of approximately Rs 1,200 cr

NTPC: The power company aims to add 16 GW of renewable capacity by the fiscal ended 2026, the management said during its recent earnings call.

Ipca Laboratories/Lyka Labs: Ipca Laboratories has increased its shareholding in Lyka Labs by 9.76% in two tranches. It bought 44 lakh shares at Rs 139.50 apiece on March 15 and April 18. Ipca now holds 1.20 crore share of Lyka, or 36.34% of latter’s overall shareholding.

Polyplex Corp: Has Entered Into A Binding Term Sheet With Certain Members Of The Promoter Group ("Promoter Group Members") Of The Co And AGP Holdco 

Promoter Group Members Have Agreed To Sell To The Investor 24.2778% Stake In The Equity Share Capital Of The Co For An Aggregate Amount Of 13.8b Rupees

Wipro expands GoogleCloud partnership to advance enterprise adoption of Generative AI

Tata Chemicals re-appoints R. Mukundan as ManagingDirector & CEO for 5 years, effective November 26, 2023

Punjab National Bank: The bank appointed Amit Srivastava as its group chief risk officer.

DishTV: Anil Kumar Dua resigns as CEO of DishTV

Board seeks approval of Ministry Of Information and Broadcasting to appoint Manoj Dobhal as new CEO

Market Indication

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY:  FLAT to NEGATIVE

BULK Deals: Gland Pharma, Matrimony.com, Max Healthcare Institute etc.

Stocks In F&O Ban Period: Delta Corp, Indiabulls Housing Finance

Results Today: Hindalco Industries, National Aluminium Company, FSN E-Commerce Ventures, Oil India, 63 Moons Technologies, Ashoka Buildcon, Bayer Cropscience, Brigade Enterprises, Cummins India, Fine Organic Industries, Gujarat Pipavav Port, Garden Reach Shipbuilders & Engineers, ICRA, India Cements, IRCON International, JB Chemicals & Pharmaceuticals, Nava, The Phoenix Mills, Hitachi Energy India, Trident, Titagarh Wagons, and Wonderla Holidays

SGX NIFTY:  (Negative)

18284     -77.50    -0.42%

ROTO PUMP LTD Q4 RESULT

ROTO PUMP LTD Q4 RESULT 

NET PROFIT 11 CR VS 7 CR (YOY), Q3 9.2 CR

REVENUE 72 CR VS 51 CR (YOY), Q3 60 CR

EBITDA UP 65 % AT 18.5 CR (YOY),UP 41%(QOQ) 

EBITDA MARGINS AT 25.75 % V 22.8 % (YOY), 23 % (QOQ

*Dividend Declare : 3.15 RS*

*Bonus Issue : 1 : 1*

*Superb Number 🔥*

DIXON TECH Q4 RESULTS

DIXON TECH Q4 RESULTS

NET PROFIT 806M RUPEES VS 519M (QOQ); 630M (YOY)

REVENUE 30.65B RUPEES VS 24.05B (QOQ); 29.53B (YOY)

EBIT 1.24B RUPEES VS 821M (QOQ)

EBIT MARGIN 4.04% VS 3.42% (QOQ)

*CO RECOMMENDED A FINAL DIVIDEND OF 3 RUPEES PER SHARE*

AKZO NOBEL Q4 RESULT

AKZO NOBEL Q4 RESULT 

NET PROFIT 95 CR VS 75 CR (YOY)

EBITDA 154B CR VS 119 CR (YOY)

EBITDA MARGIN 16.26% VS 13.75% (YOY)

*COMPANY DECLARED FINAL DIVIDEND OF 40 RUPEES PER SHARE*

ASHOK LEYLAND Q4 RESULT

ASHOK LEYLAND Q4 Result 

NET PROFIT 7.51B RUPEES VS 9.01B (YOY); 3.61B (QOQ)

REVENUE 116.26B RUPEES VS 87.44B (YOY); 90.30B (QOQ) 

EBITDA 12.76B RUPEES VS 7.76B (YOY)

EBITDA MARGIN 10.98% VS 8.87% (YOY)

*CO RECOMMENDED A DIVIDEND OF 2.60 RUPEES PER SHARE*

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened flattish and witnessed buying interest throughout the day and it went on to touch 18335 zones. The second half of the session was comparatively range bound and it finally closed with gains of around 110 points. Buying at support zones continued from its previous session and it remained afloat. It formed a Bullish candle on daily scale and negated its lower highs formation of the last four sessions

◆ Now it has to hold above 18281 zones, for an up move towards 18400 and 18442 zones while on the downside support exists at 18181 and 18081 zones

◆ India VIX was up by 2.20% from 12.30 to 12.57 levels. Volatility was slightly high during the day but overall lower levels continued comforting the bulls at support zones

◆ On Option front, monthly Maximum Call OI is at 18500 then 18300 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18500 then 18300 strike while meaningful Put writing is seen at 18200 then 18300 strike. Option data suggests a broader trading range in between 18000 to 18500 zones while an immediate trading range in between 18150 to 18450 zones

◆ Bank Nifty opened on a flattish note but failed to hold 44000 zones and drifted gradually towards 43700 zones in the latter part of the session. Some recovery was seen from lower zones in the last hour but it relatively underperformed the broader market to close with marginal losses of around 80 points. It formed a small bodied candle on daily scale as buying is visible at lower zones while multiple hurdles are intact at higher levels. Index has got stuck in between 43333 to 44144 zones from the past seven sessions and follow up is missing on either side

◆ Now it has to continue to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels

◆ Bullish setup in Balkrisind, Ambuja Cement, Ramco Cement, BEL, Mphasis, Persistent, Techm, LTTS, TCS, Coforge, Hcltech, Bsoft, Cumminsind, DLF, IOC, AU Bank, Apollo Tyre, ITC, HAL, Maruti and M&M 

◆ Bearish setup in Siemens, Alkem and UBL

Pre- Market analysis 23th May

Pre- Market analysis 23th May

-  Bulls have dominated and Indian equity markets rallied 2nd consecutive day

-  Nifty was opened 18200 and rallied up to 18335

-  Sensex was up 234 points or 0.38% at 61,963.68

- Nifty was up 111 points or 0.61% at 18,314.4

-  Adanient & Adaniports have contributed around 60 points to lift the index

-  midcap index added 0.7 percent and the smallcap index 0.4%

- BPCL net profit zooms 159% YoY to Rs 6478 crore

-  FIIs net bought 922 crore while DIIs net bought 605 crore on May 22

- NCLT (Natioanal Company Law Tribunal) has ordered to NSE BSE to revies Sony-Zee merger

-  VEDL declared first interim dividend of Rs 18.50 for FY 2024. Record date of May 30

- VEDL already paid interim dividend os Rs 101.50 through FY 2023-2024

-  US president & Speaker MCCarthy meeting ends with no deal on debt ceilling

-  US Futures higher following a mixed close for the cash market

- Dow declined 0.42%, Nasdaq added 0.5% and S&P500 ended flat note

- US VIX ended 17.20

- US 10-year yield rises to 3.72%

-  Crude inches higher on rise in US gasoline futures

-  Brent crude above $76/bbl

- Gold prices fall to $1960/oz as FED Hawkish comments on weigh dollar

- Asian markets higher in early morning

- Nikkei & Kospi higher 0.5% and Hangseng at flat note

STOCKS IN ACTION 23 May

STOCKS IN ACTION 23 May

Torrent Power: The board of the company will consider raising Rs 3,000 crore via private placement of non-convertible debentures, along with the financial results for the March quarter and a final dividend for financial year 2022-23.

CENTURY TEXTILES: BOARDMEET Today 

Consider Fund Raising worth Rs 400 Crores Via NCDs

AXITA COTTON: BOARDMEET Today 

Consider BuyBack Proposal

ITI bags an Advance Purchase Order (APO) worth Rs. 3,889 cr from BSNL for its 4G rollout

Astra Microwave joint venture (JV) company, Astra Rafael Comsys, bags an order of Rs 158 cr from Defence Public Sector Undertaking (DPSU) for supply of Software Defined Radio (SDR)

JSW Steel | NCLT approves resolution plan of JSW Steel Coated Products For National Steel & Agro Industries Limited (NSAIL)

JSW Steel & JFE Steel agree to establish cold rolled grain oriented electrical steel manufacturing JV in India

IGL accepts authorisation for Noida Geographical Area (GA) without prejudice

Co has filed appeals against Petroleum & Natural Gas Regulatory Board (PNGRB) order in respect of Faridabad and Gurugram GAs

Alert: On Apr 25, PNGRB released its order regarding authorisation for Noida & Gurugram GAs

TELECOM DATA - MARCH 

RelianceJio added 30.5 Lakh mobile subscribers

BhartiAirtel onborded 10.37 Lakh mobile subscribers

VodafoneIdea lost 12.12 Lakh wireless users

MTAR TECHNOLOGIES: Alert Bloom Energy to host investor conference Tomorrow 

Vedanta: The company announced the first interim dividend of Rs 18.50 per share for the financial year 2023-24, with a total outgo of Rs 6,877 crore.

Coal India: The Joint Bipartite Committee for the Coal Industry signed the National Coal Wage Agreement for the period five years, effective July 1, 2021. The company has made provisions to the tune of Rs 9,252.24 crore for this effect for 21 months from July1, 2021 to March 31, 2023. The final impact of this is not likely to be significant.

MAX HEALTHCARE: Large Trade

GQG PARTNERS EMERGING MARKETS EQUITY FUND

BUY 75,50,000 Shares @ Rs 549.7/ Share

MATRIMONY: Large Trade

CARNELIAN ASSET ADVISORS PRIVATE LIMITED

BUY 135,495 Shares @ Rs 560/ Share 

KOKUYO CAMLIN: Large Trade 

EQUITY INTELLIGENCE INDIA PRIVATE LIMITED

BUY 540,000 Shares @ Rs 105.79/ Share

GLAND PHARMA: Large Trade 

MORGAN STANLEY INVESTMENT FUNDS EMERGING MARKETS EQUITY FUND

SOLD 960,271 Shares @ Rs 930.69/ Share

BPCL Q4 Result

BPCL Q4 Result 

NET PROFIT 64.78B RUPEES VS 19.59B (QOQ); 21.3B (YOY) 

REVENUE 1.33T RUPEES VS 1.33T (QOQ); 1.24T (YOY) 

EBITDA 111.5B RUPEES VS 42.33B (QOQ)

EBITDA MARGIN 8.36% VS 3.18% (QOQ)

*CO RECOMMENDED DIVIDEND OF 4 RUPEES PER SHARE*

GUJARAT ALKALIES & CHEMICALS Q4 Result

GUJARAT ALKALIES & CHEMICALS Q4 Result

NET PROFIT 710M RUPEES VS 2.2B (YOY); 872M (QOQ)

REVENUE 11.38B RUPEES VS 11.4B (YOY); 11.2B (QOQ) 

EBITDA 2.43B RUPEES VS 3.5B (YOY)

EBITDA MARGIN 21.31% VS 30.69% (YOY)

*CO RECOMMENDED FINAL DIVIDEND OF 23.55 RUPEES PER EQUITY SHARE*

UPI transactions

837X rise in UPI transactions between April 2020 - April 2023 (Value in Rs. Crores):

April 2023: 1415505

April 2022: 983573

April 2021: 493664

April 2020: 151141

(RBI)

Derivatives update

*Derivatives update*

Good morning !! Derivatives update for Monday, 20 May 2023.

India VIX was down by 3.91% from 12.79 to 12.30 levels. Volatility sunk during the day and paved way for the bulls in the market at support zones.

Nifty *Put/Call Ratio* (OI) increased from 0.93 to 1.01 level. 

On Option front, monthly Maximum Call OI is at 18200 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18450 then 18400 strike while minor Put writing is seen at 18100 then 18000 strike.

*Option data suggests a broader trading range in between 17900 to 18400 zones while an immediate trading range in between 18050 to 18350 zones.*

For weekly Bank Nifty, Maximum Put OI is at 43000 then 44000 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 46000 and Put writing is witnessed at 44000 strike. 

Bank Nifty Put Call Ratio increased from 1.01 to 1.15. Implied volatility fell from 14.4 to 13.2 levels.

Bank Nifty (CMP 43,969.4)

Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44144/44250 zones.*

Looking ahead at the FII’s derivatives activity, there was short built up in index futures, call & put selling in index options and long built up in stock futures.

In the cash market, FIIs were net sellers to the tune of 113 crores while DII’s were net buyers worth 1071 crores. FIIs Index Long Short Ratio decreased to 47.64%.

Derivatives data and price set up suggests, Nifty has to hold above 18181 zones, for an up move towards 18333 and 18442 zones while on the downside supports exist at 18081 and 18018 zones.

Bank Nifty has to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels.

Thank you. Have a great trading day and week ahead..!!

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened positive and fell steeply in the first half of the session to touch intraday low of 18060 and was followed by recovery throughout the day. Buying interest was ignited at 18081 zones and it touched high of 18218 zones to finally close with gains of around 70 points. It formed a Bullish hammer on daily scale with longer lower shadow indicating buying at support zones. It formed a Bearish candle on weekly frame but has been forming higher highs from the last eight weeks which suggests supports are gradually shifting higher

◆ Now it has to hold above 18181 zones, for an up move towards 18333 and 18442 zones while on the downside supports exist at 18081 and 18018 zones

◆ India VIX was down by 3.91% from 12.79 to 12.30 levels. Volatility sunk during the day and paved way for the bulls in the market at support zones

◆ On Option front, monthly Maximum Call OI is at 18200 then 18500 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18450 then 18400 strike while minor Put writing is seen at 18100 then 18000 strike. Option data suggests a broader trading range in between 17900 to 18400 zones while an immediate trading range in between 18050 to 18350 zones

◆ Bank Nifty opened gap up by 150 points near 43950 zones but failed to hold its opening gains and drifted swiftly towards 43500 zones in the initial hour of the session. Later on it remained consolidative in narrow range of 100 points but recovered its intraday losses and extended its momentum towards 44000 zones. It formed a Bullish Pin Bar candle with long lower shadow on daily scale which suggests buying is visible at lower zones but facing multiple hurdle near 44050 zones from the past few sessions. On weekly structure, it formed a small bullish candle and higher highs - higher lows structure is intact from the past eight weeks

◆ Now it has to hold above 43750 zones for an up move towards 44144 then 44250 zones while on the downside support is seen at 43500 then 43333 levels

◆ Bullish setup in DLF, Tata Motors, Adani Ent, Adani Ports, Bsoft, Coforge, Indhotel, Infy, Mphasis, LTIM and Ramco Cement

◆ Bearish setup in ABFRL, AB Capital, Astral, Auropharma, Bandhan Bank, Britannia, Divis Labs, Siemens and Zyduslife

STOCKS IN ACTION 22 May

STOCKS IN ACTION 22 May

Dilip Buildcon: The company has been selected as the L-1 bidder for construction of Malhargarh pressurized micro lift major irrigation project on turnkey basis by Water Resource Department in the state of Mandsaur, Madhya Pradesh at a cost of Rs 699.03 crore.

NTPC: NTPC Green Energy, the renewable arm of the company, signed an MoU with HPCL Mittal Energy under which it will supply 250 MW green energy to the latter, according to a statement by NTPC. Both companies will explore opportunities in production of green hydrogen, green ammonia and green methane.

NDTV: The company’s stock has been moved out of long-term additional surveillance measure framework by BSE and National Stock Exchange.

Piramal Pharma: The U.S. FDA completed the good manufacturing practices and pre-approval inspection of the company’s Pithampur facility with no Form 483 observations.

Shreyas Shipping and Logistics to delist from exchanges: BSE

Zomato appoints Rakesh Ranjan as CEO of Food Ordering & Delivery Business, Rinshul Chandra as COO of Food Ordering & Delivery Business & Rishi Arora as CEO of Zomato Hyperpure

JSW Steel board elevates Jayant Acharya as MD & CEO for 5 years

Gajraj Singh Rathore appointed as Whole-time Director designated as Chief Operating Officer

Zee Entertainment Enterprises/IDBI Bank: The Mumbai bench of the National Company Law Tribunal has dismissed the application by IDBI Bank to initiate insolvency proceedings against Zee Entertainment.

Aurobindo Pharma: The U.S. FDA has issued a Form 483 with four observations after inspecting the company’s Unit XIV, an API non antibiotic manufacturing facility situated at Paravada Industrial Area, in Anakapalli, Andhra Pradesh.