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.

positive returns in PSB

All PSBs have given positive returns in the last one year.

1. UCO Bank +130%

2. PSB +100%

3. Bank of Maha. +96%

4. UBI +95%

5. BOB +89%

6. Indian Bank +88%

7. BOI +74%

8. PNB +68%

9. Canara Bank +59%

10. Central Bank +52%

11. IOB +42%

12. SBI +28%

19-05-2023

Largest companies by country (market cap)

Largest companies by country (market cap):

🇦🇷Argentina → MercadoLibre

🇦🇺Australia → BHP Group

🇦🇹Austria → Verbund AG

🇧🇪Belgium → Anheuser-Busch Inbev

🇧🇷Brazil → Petrobras

🇰🇭Cambodia → Sihanoukville Autonomous

🇨🇦Canada → Royal Bank Of Canada

🇨🇱Chile → Sociedad Química y Minera

🇨🇳China → Tencent

🇩🇰Denmark → Novo Nordisk

🇫🇮 Finland → Nordea Bank

🇫🇷France → LVMH

🇩🇪Germany → SAP

🇬🇷Greece → OTE Group

🇭🇰Hong Kong → AIA

🇮🇹Italy → Enel

🇮🇸 Iceland → Alvotech

🇮🇩Indonesia → Bank Central Asia

🇮🇳India → Reliance Industries

🇮🇪Ireland → Accenture

🇮🇱 Israel → Mobileye

🇯🇵Japan → Toyota

🇱🇺Luxembourg → ArcelorMittal

🇲🇾Malaysia → Maybank

🇲🇽Mexico → Walmex

🇳🇱Netherlands → ASML

🇳🇿New Zealand → Fisher & Paykel Healthcare

🇳🇴Norway → Equinor

🇵🇱Poland → PKN Orlen

🇵🇹Portugal → EDP Group

🇷🇺Russia → United Heavy Machinery

🇸🇦Saudi Arabia → Saudi Aramco

🇸🇬Singapore → DBS Group

🇿🇦South Africa → Naspers

🇰🇷South Korea → Samsung

🇪🇸Spain → Inditex

🇸🇪Sweden → Atlas Copco

🇨🇭Switzerland → Nestlé

🇹🇼Taiwan → TSMC

🇹🇭Thailand → Airports of Thailand

🇹🇷Turkey → Sasa Polyester

🇦🇪UAE → International Holding Company

🇬🇧UK → AstraZeneca

🇺🇸US → Apple

PI INDUSTRIES Q4 Result

PI INDUSTRIES Q4 Result 

NET PROFIT 2.79B RUPEES VS 2.05B (YOY); 3.5B (QOQ)  

REVENUE 15B RUPEES VS 13.4B (YOY); 15.7B (QOQ)  

EBITDA 3.34B RUPEES VS 302M (YOY) 

EBITDA MARGIN 22.19% VS 22.4% (YOY)

*CO RECOMMENDED FINAL DIVIDEND OF 5.50 RUPEES PER EQUITY SHARE*

RBI: 2000 RUPEE DENOMINATION

RBI: 2000 RUPEE DENOMINATION BANKNOTES – WITHDRAWAL FROM CIRCULATION; WILL CONTINUE AS LEGAL TENDER

RBI: IT HAS BEEN DECIDED TO WITHDRAW THE 2000 RUPEES DENOMINATION BANKNOTES FROM CIRCULATION || RBI: THE BANKNOTES IN 2000 RUPEES DENOMINATION WILL CONTINUE TO BE LEGAL TENDER

RBI: BANKS MAY EXCHANGE 2000 RUPEES BANKNOTES UPTO A LIMIT OF 20,000 RUPEES AT A TIME

RBI SAYS 2000 RUPEE NOTES NOT COMMONLY USED FOR TRANSACTIONS || RBI SAYS OTHER CURRENCY DENOMINATIONS ADEQUATE TO MEET CURRENCY NEEDS OF PUBLIC

RBI: ALL BANKS SHALL PROVIDE DEPOSIT AND/OR EXCHANGE FACILITY FOR 2000 RUPEE BANKNOTES UNTIL SEPTEMBER 30, 2023

RBI: NO RESTRICTIONS ON DEPOSIT OF 2000 RUPEES NOTES INTO BANK ACCOUNTS

Nifty : Important Technical Update

Nifty : Important Technical Update

4 BEARS found on the chart, but unable to significantly dampen the charts as of now.

The index is still stuck in a range 18050-18450

BANKNIFTY

BANKNIFTY 

43850 level will act as a median. If price gave closed below this level then only can take short trades till 43700 then 43500.

Nifty50

Nifty50 

Upside hurdles at 18180 then 18250 level

Downside supports at 18100 the 18000

Derivatives update

*Derivatives update*

 Derivatives update for Friday, 19 May 2023.

India VIX was down by 2.33% from 13.10 to 12.79 levels. Volatility had sunk in the initial tick but later spiked and caused swings in the market.

Nifty *Put/Call Ratio* (OI) increased from 0.83 to 0.93 level. 

On Option front, monthly Maximum Call OI is at 18200 then 18300 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18200 then 18300 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 18000 to 18300 zones.*

For weekly Bank Nifty, Maximum Put OI is at 42000 then 43000 strike and maximum Call OI is placed at 44000 then 44500 strike. We have seen Call writing 44000 and Put writing is witnessed at 40000 strike. 

Bank Nifty Put Call Ratio increased from 0.83 to 1.01 Implied volatility fell from 14.6 to 14.4 levels.

Bank Nifty (CMP 43,752)

Data setup for Bank Nifty suggests a trading range in between *43333/43500 to 44000/44144 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 970 crores while DII’s were net sellers worth 850 crores. FIIs Index Long Short Ratio increased to 49.06%.

Derivatives data and price set up suggests, till Nifty holds below 18181 zones, some more profit booking could be seen towards 18081 and 18018 zones while on the upside hurdle exists at 18218 and 18333 marks.

Till Bank Nifty holds below 44000 zones, bounce could be sold for some weakness towards 43500 then 43333 levels while on the upside hurdle is seen at 44000 then 44144 marks.

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

Pre-Market Derivatives and Technical Set-up

*Pre-Market Derivatives and Technical Set-up*

◆ Nifty index opened gap up but witnessed selling pressure right from the initial tick. It witnessed swings within a small range in the first half of the session followed by bear’s grip in the next half. It breached its previous day’s lower zones and drifted towards 18100 levels. It is facing pressure at higher zones with third consecutive Bearish candle and finally closed with losses of around 50 points

◆ Now till it holds below 18181 zones, some more profit booking could be seen towards 18081 and 18018 zones while on the upside hurdle exists at 18218 and 18333 marks

◆ India VIX was down by 2.33% from 13.10 to 12.79 levels. Volatility had sunk in the initial tick but later spiked and caused swings in the market

◆ On Option front, monthly Maximum Call OI is at 18200 then 18300 strike while Maximum Put OI is at 18200 then 18000 strike. Call writing is seen at 18200 then 18300 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 18000 to 18300 zones

◆ Bank Nifty opened gap up by 300 points above 44000 zones but failed to hold its opening gains and remained consolidative in narrow range of 200 points in the first half of the session in between 43850 to 44050 levels. However it breached its hourly support of 43800 zones and drifted swiftly towards 43675 levels and remained volatile to close near 43750 zones. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones

◆ Now till it holds below 44000 zones, bounce could be sold for some weakness towards 43500 then 43333 levels while on the upside hurdle is seen at 44000 then 44144 marks

◆ Bullish setup in Cholafin, Au Bank, Ramco Cement, Bhartiartl, Berger Paint, Pidilitind and Axis Bank

◆ Bearish setup in Metropolis, Gail, Granules, Suntv, Divislabs, Indus Tower, Can Bank, ACC, Shree Cement, RBL Bank, Hindpetro, Alkem, Rain, Bharatforg, SRF, Jindalstel, NMDC, Powergrid, Drreddy and Grasim

News and Impact

News and Impact 

 

 

·      Expects markets to open on a positive note on account of rally in the across the global market as hope grew for a U.S. debt ceiling deal. Optimism for a US debt-ceiling deal, fall in US Job data along with Housing data and better than expected Walmart results lifted Nasdaq by 1.5% to close at 13-month high and S&P 500 advance 1% to close 9-month high. Markets expect that Fed will start cutting interest rates in the second half of the year after the US existing Home Sales decreased by 3.4% month-over-month in April. On the other hand, US House Speaker Kevin McCarthy said a debt-limit deal will likely be considered on the House floor next week and told reporters discussions were in a “much better place” than before. A positive earnings outlook from consumer bellwether Walmart Inc. also added fuel in the market sentiment. However, US dollar Index surged to 2-month high and spiked in US 10-year and 2-year bond yield is a concern in the market. Asian markets open on a positive note and marginally gain US Future. SGX Nifty advance quarter percent today. Yesterday, Nifty declined over half percent from the intra-day high and fell in the last three trading sessions on account of profit booking. Strong FIIs inflow, good quarterly results and impressive micro data will be positive for the market sentiment. Recent fall (Sensex declined 900 points last 3-day) is a good opportunity to buy on domestic equity. We are positive on banks, auto, NBFC and defense stocks. Both SBI and ITC announced impressive Q4 results yesterday. Defense stocks will be focus after the news that the HDFC Mutual Fund will launch India's first defence fund.

 

·      US Market –. US stocks closed higher on mounting optimism that a debt ceiling deal could be reached within days, with discount retailer Walmart providing additional support after an upbeat

·      annual sales forecast. Nasdaq Composite surged 1.5% to close 13-month high while S&P 500 gained nearly 1% to close 9-month high

 

·      Global market summary – Nasdaq closed 13-month high, S&P 500 closed 9-month high, US Dollar Index spiked to 2-month high of above 103, US 10-Year yield surged to 1-month high at 3.63 and over 1-month high of 4.21%. Gold price fell to 6-week low, Japan CPI spiked to 40-year high at 3.4%

 

·      Asian Market – Asian stocks advanced alongside US equity futures on rising hopes that lawmakers in Washington will avert a first-ever US default. Shares in Japan, Australia and South Korea all edged higher by half percent. The advance for the Topix Index placed the gauge of Japanese blue chips on course for its best week since November and a fresh 33-year high.

 

·      European Market –  European stocks bounced after two days of losses following Wednesday’s gains on Wall Street, as investors were optimistic about a breakthrough in US debt-ceiling talks.  Both Germany and France Index gained 1% higher while UK Index gained 0.3%.

 

·      Oil –  Oil declined marginally to below $76/bbl headed on account of slowdown in the global demand and optimism that the US will avert a catastrophic debt default.

 

·      Gold –  Gold declined 2% to 6-week low at $1955/ounce (fell to below 20-DMA) as traders tracked talks to resolve the US debt-ceiling impasse and dissected comments from a slew of Federal Reserve officials on the outlook for interest rates.

 

·      Previous Day market Update –Equity benchmark Nifty reverse the intra-day gain and declined for third trading sessions on account of profit in heavyweights ITC, SBI, L&T, Hindustan Unilever and Maruti. Nifty dropped 52 points or 0.3% to end at 18,130 while touched intra-day high of 18297. PSU Bank Index slipped nearly 2% after the banking major SBI announced Q4 results. FMCG index slipped over 1% lower after ITC announced Q4 result which was in line with expectation. Nifty realty index nosedived over 2% followed by pharma, mid-cap and small cap sectors. Sensex declined 129 points or 0.21% to settle at 61,432. Sensex fell 900 points or 1.5% in the three trading sessions. Traders were booking profit from the higher level after announced mixed bag of quarterly results and lingering concerns about a standoff in US debt-ceiling negotiations. FIIs were net buyers Rs970cr while DIIs were net sellers Rs850cr yesterday.

 

·      Nifty Technical Levels -  Nifty is facing pressure at higher zones with third consecutive Bearish candle and finally closed with losses of around 50 points. Now till it holds below 18181 zones, some more profit booking could be seen towards 18081 and 18018 zones while on the upside hurdle exists at 18218 and 18333 marks.

 

·      Bank Nifty Technical Levels – Bank Nifty breached its hourly support of 43800 zones and drifted swiftly towards 43675 levels and remained volatile to close near 43750 zones. It formed a Bearish candle on daily scale as selling pressure was seen at higher zones. Now till it holds below 44000 zones, bounce could be sold for some weakness towards 43500 then 43333 levels while on the upside hurdle is seen at 44000 then 44144 marks.

 

·      Actionable BUY – Lemon Tree Hotel, Manyavar, Hudco, Ramco Cement

 

·      Brokers Radar –  SBI – CLSA TGT at 725, Morgan Stanley TGT at 715,  JP Morgan TGT at 730, Goldam Sachs TGT at 746, CITI TGT at 710, Macquarie TGT at 695. ITC – Morgan Stanley TGT at 474 from 415, JP Morgan TGT at 425, Jefferies TGT at 520, Nomura TGT at 485 and Goldman Sachs TGT at 470

 

·      Events – Nexus Trust listing today and subscribed over 5 times,  Manyavar or Vedant Fashion OFS for retail segment at Rs1161, G-7 meeting at Japan

 

·      Results –  Abbott India, Alkem Labs, CG Consumers, Dalmia Sugar, Glenmark Pharma Godrej Industries, JSW Steel, Kirloskar Oil, Minda Corp, Motherson SWI, NTPC, Power Grid, Route Mobile, Taj GVK and Zomato.

 

·      Corporate Action  - Home First Finance Rs2.60, Shree Ram Proteins – stock split from Rs10 Re1, Tata Consumers Rs8.45

 

·      Global Data – Consumers Confidence (UK), PPI (Germany). 

 

·      Market Summary – United Spirits announced impressive quarterly results, USDINR surges to 2-month high at above 82, Everstone in talks to sell 41% stake in India's Burger King franchisee, GAIL, Indigo announced lower than expected Q4 results, ITC and SBI reported in line with expected Q4 results, Ramco Cement announced strong Q4 results,  Zydus Life reported impressive Q4 results, Reliance Retail partnership with  China retail giant Shein, Manyavar's Non-retail OFS fully subscribed nearly 2.2 times more bids

 

·      USDINR - The rupee surged by 25 paise to close at 82.62 against the US currency on Thursday, weighed down by a strong greenback in the overseas market and a negative trend in domestic equities – Rising USDINR is a concern in the market

 

·      Reliance Industries - Reliance Retail is set to bring back Chinese fashion giant Shein to India through a strategic partnership, more than two years after the latter’s app was banned by the Indian government – positive

 

·      Nazara Technologies: Nazara Technologies' subsidiary NODWIN Gaming on Thursday announced that it has signed a definitive to raise $28 million crore from new and existing investors - Positive.

 

·      Wipro – Company in 5-year business partnership with Servicenow – positive

 

·      REC: REC is set to significantly expand its loan book under the renewable energy (RE) portfolio, aiming for Rs2.4 lakh crore by the financial year 2030.

 

·      Manyavar's Non-retail OFS update - The offer for sale (OFS) launched by Vedant Fashions,

·      that operates ethnic wear brand Manyavar, garnered nearly 2.2 times more bids than the shares on offer. The floor price for the OFS has been set at Rs 1,161 – Today for Retail segment

 

·      Rail Vikas Nigam (RVNL) – Company – NHAI JV to build multi model logistic parks – positive

 

·      Restaurant Brands Asia – Restaurant Brands Asia  (RBA) - Media reports that a consortium of private-equity firms, including Advent and General Atlantic, and Jubilant Foodworks are among entities in talks to buy Everstone’s entire 41% stake in Restaurant Brands Asia. – Stock gained 14% yesterday.

 

·      NDTV To Launch Nine News Channels In Different Indian Languages -  Company has approved a proposal to seek permission of Ministry of Information and Broadcasting for launch of nine news channels in different Indian languages in phases. – Positive

 

·      Tata Elxsi: Tata Elxsi Ltd on Thursday reported a 26% year-on-year rise in its net profit for the fiscal's fourth quarter ended March (Q4FY23) to ₹201.5 crore. The Tata Group company had reported a profit of ₹160.01 crore in the year-ago period. The company's revenue from operations for Q4FY23 rose 23% on year to ₹838 crore from ₹681.7 crore

 

·      BPCL – Company has entered into a strategic Memorandum of Understanding (MOU) with Aspen Technology Inc., USA. This partnership aims to integrate Aspen Tech's process simulation solution with BPCL's BPMARRK® software, enabling the generation of complete assay data within a fraction of the time it would traditionally take using laboratory methods. – Positive

 

·      K&R Rail Engineering – Company has received a work order, from M/s. JK Cement Limited for the Design and Survey work of Railway Siding Project at Muddapur in Bagalkot District of Karnataka State valued at more than Rs.300 Crores.- positive

 

·      Bharti Airtel – Company announced that it has surpassed the 2 million unique 5G user mark on its network in Tamil Nadu. – positive

 

·      Nippon Life – Company announced the appointment of Mr. Ashish Chugani as the Head of Alternative Assets for its AIF business. - positive

 

·      GAIL – Company expects to get four liquefied natural gas cargoes each in May and June from Germany’s SEFE Marketing and Trading. The Singapore unit of SEFE Marketing, formerly known as Gazprom Marketing & Trading Ltd., had stopped supplies under a long term contract to GAIL since mid-2022.  Company is planning capital expenditure of Rs10000cr ($1.2 billion) in FY24 and expects 6-7% growth in India gas demand in the financial year ending March 2024 – long term positive

 

·      Vedanta: The company’s board will meet on May 22 to consider the first interim dividend for fiscal 2023–24. The record date for the dividend, if approved, will be May 30. – positive on hope of higher dividend

 

·      BHEL : The company has given Jai Prakash Srivastava additional charge of the post of director (finance) for one year, effective April 18, 2023, to April 17, 2024. It also appointed Krishna Kumar Thakur as director (human resources) for a period of five years from the date of assumption of charge.

 

·      Dividend – Sikha Interplant Rs4, JK Tyre Rs2, Thermax Rs10, BDH Rs4, Honeywell Automation Rs95, Endurance Tech Rs7, SBI Rs11.30. ITC Rs6.75 and special dividend Rs2.75

 

·      Zydus Life better than expected Ebitda and Ebitda margin. Company reported Q4 net profit Rs297cr (down 255 YoY) – expectation Rs731cr, US sales Rs2250cr (up 58% YoY), India sales Rs1290cr (up 46% YoY), Ebitda Rs1256cr (up 46% YoY) – expectation Rs1081.3cr and Ebitda margin at 25.1% vs 22.3% - Expectation 22.6%, Gujarat Narmada Rs30

 

·      Restaurant Brands Asia announced impressive Q4 results. Company reported Q4 FY23 - Revenue rose 28.55% (YoY) to Rs 513.95 crore,  Ebitda up 35.41% (YoY) at Rs 27.38 crore,  Ebitda margin at 5.33% vs 5.06% and Net loss narrows to Rs 79.96 crore vs net loss of Rs 81.54 crore

 

·      Honeywell Automation India announced above Bloomberg estimates Q4 results -  Revenue up 27.2% (YoY) at Rs 849.68 crore (Bloomberg estimate: Rs 910.04 crore), Ebitda up 58.99% (YoY) at Rs 138.8 crore (Bloomberg estimate: Rs 132.14 crore) Ebitda margin at 16.34% vs 13.07% YoY  (Bloomberg estimate: 14.5%) and Net profit up 54.16% (YoY) at Rs 112.03 crore (Bloomberg estimate: Rs 104.68 crore)

 

·      Jindal Stainless announced above Bloomberg estimates Q4 results Q4 FY23 -  Revenue up 0.4% (YoY) at Rs 9,765.08 crore (Bloomberg estimate: Rs 10,508.67 crore), Ebitda down 19% (YoY) at Rs 1,143.93 crore (Bloomberg estimate: Rs 904.20 crore) Ebitda margin at 11.71% vs 14.52% YoY (Bloomberg estimate: 8.6%) Net profit down 19.96% at Rs 716.29 crore (Bloomberg estimate: Rs 603.07 crore)

 

·      SBI announced impressive Q4 results and reported lowest GNPA in the last 10 years. Company reported Q4 net profit Rs 16694cr (up 83.2% YoY) - Expectation Rs15170cr, provision Rs3320cr (down 42% QoQ) – expectation Rs6160, Loan growth 17% while expectation 16%, operating profit Rs24620cr (up 25% YoY) – expectation Rs26920cr, Loan loss provision Rs1280cr (down 12% QoQ), GNPA 2.78% vs 3.14% (QoQ) – expectation 2.9%, NPA at 0.67% vs 0.77% (QoQ) - expectation 0.7% and NII Rs40392.5cr (up 29.5% YoY) – expectation Rs40250

 

·      GAIL announced lower than expected Q4 results. Company reported Q4 Net profit Rs603.7cr (down 77% YoY) – expectation Rs937.6cr, Ebitda Rs307cr (up 17.6% YoY) – Expectation Rs1513.6cr, Company recoveres loan loss Rs4200cr vs Rs1643cr (QoQ) and fresh slippage Rs3190cr (up 3% QoQ), Ebitda margin 0.9% vs 0.7% (QoQ) – expectation 3.7% and Income Rs32843cr (down 7.1% YoY) – expectation Rs41468cr

 

·      Arvind Q4 announced poor Q4 results. Company reported Q4 net profit Rs 197cr (up 12.4% YoY), Ebitda Rs191 ( down 19.9% YoY), Ebitda margin 10.1% vs 10.8% (YoY) and Income Rs1880.8cr (down 14.4% YoY)

 

·      ITC announced impressive Q4 results and above expectation cigarette volume growth. Company reported Q4 Net profit Rs5087cr (up 21.4% YoY) – expectation Rs4730cr, Cigarette volume growth 14.2% vs 15% - expectation 13%, Ebitda Rs6209.3cr (up 18.9% YoY) – Expectation Rs6210cr, Ebitda margin 37.9% vs 33.6% (YoY) – expectation 38.7% and Income Rs16398cr (up 5.6% YoY) – expectation Rs16050cr

 

·      Gujarat Narmada announced poor Q4 results. Company reported Q4 Net profit Rs336cr (down 48% YoY)Ebitda Rs367cr (down 58% YoY),  and Income Rs2270cr (down 18% YoY) 

 

·      Orient Paper announced strong Q4 results. Company reported Q4 Net Profit  Rs50cr vs  loss Rs2.2cr, Ebitda  Rs68.4 vs 4.5cr and Income Rs258.5cr (up 35%)

 

·      Ramco Cement strong Q4 results of all fronts due to higher realization. Company reported Q4 net profit Rs152cr (22.6% YoY) – expectation Rs70cr, Ebitda Rs412 (up 39.5% YoY)– expectation Rs290cr, Ebitda margin 16% vs vs 17.4% - expectation 13% and Income Rs2568cr (up 50.2% YoY)– expectation Rs2260cr

 

·      Indigo announced lower than expected Ebitda and Ebitda margin. Company reported Q4 Net profit Rs916cr vs loss Rs1680cr (YoY) – expectation Rs2180cr, Ebitda margin at 20.9% vs 2.1% (YoY) – expectation 27.9%, Ebitda Rs2970cr vs Rs172cr (YoY) – expectation Rs4240cr, Total passenger 2.34cr (up 60% YoY), Capacity 49.2%, load factor 84.2% vs 76.7% (YoY) – expectation 80.1%, Debt Rs44850cr, cash Rs23420cr and Income Rs14160cr (up 77% YoY) – Expectation Rs15190cr

 

·      PNB Housing announced inline with expected Q4 results. Company reported Q4 Net profit Rs283cr (up 66% YoY) – expectation Rs290cr, GNPA 3.83%, impairments Rs145cr (down 43% QoQ) and Income Rs1630cr (up 15% YoY) – Expectation Rs1685cr

 

·      Gland Pharma announced lower than expected Q4 results. Company reported Income Q4 at Rs790cr (down 29% YoY) – Expectation Rs900cr, Ebitda margin at 21.5% vs 31.6% (YoY)- expectation 30%, Ebitda Rs170cr (down 52% YoY) – Expectation Rs270cr and net profit Rs120cr (down 59% YoY) – Expectation Rs220cr.

 

·      Container Corporation announced lower than expected Q4 results. Company reported Income Q4 at Rs2166cr (up 6% YoY) – Expectation Rs2195cr, Ebitda margin at 20.5% vs 20.2% (YoY)- expectation 23.3%, Ebitda Rs444.7cr (up 7.7% YoY) – Expectation Rs509cr and net profit Rs278.5cr (up 8.4% YoY) – Expectation Rs347.5cr.

 

·      United Spirits Company announced impressive Q4 results. Company reported Income Q4 at Rs2494cr (down 0.3%  YoY) – Expectation Rs2184cr, Ebitda margin at 13.7% vs 217.1% (YoY)- expectation 12.8%, Ebitda Rs338cr (down 21.1% YoY) – Expectation Rs279cr and net profit Rs212cr (down 24% YoY) – Expectation Rs156cr.

 

 

Securities in Ban For Trade Date 19 - MAY

Securities in Ban For Trade Date 19 - MAY -2023 - 1. ABFRL, 2.BALRAMCHIN, 3. DELTACORP, 4. GNFC, 5. L&TFIN, 6.LICHSGFIN, 7.MANAPPURAM, 8.PNB  (Source - nseindia.com)

SBIN

SBIN

(Consolidated)

DIVIDEND - 11.30

Q4FY23 – Performance

Result is in line with the expectation.

Good set👍

Dividend👌

YoY Rev at 980B Vs 746B ⬆️31%

QoQ Rev at 980B Vs 915B ⬆️7%

Year ended Rev: 3508B Vs 2899B ⬆️21%

YoY PAT at 183B vs 99.9 ⬆️83%

QoQ PAT at 183B Vs 156B ⬆️17%

Year ended PAT: 565B Vs. 363B ⬆️55%

Q4EPS at 20.27Rs vs 10.79Rs Vs.17.34Rs

Year ended EPS: 62.35 Vs. 39.64

(STANDALONE)

Gross NPA (%) : 2.78 vs. 3.97 vs. 3.14

Net NPA (%) : 0.67 vs. 0.74 vs. 1.08

STOCKS IN ATION 19 MAY

STOCKS IN ATION 19 MAY 

Pfizer: The company initiated voluntary recall of all batches of Magnex, Magnex Forte, Zosyn and Magnamycin after an out-of-specification was observed at the manufacturing facility of its contract manufacturer for the recalled products, Astral SteriTech. The recall will have an impact on the company’s revenue and profitability.

Nazara Technologies: Nodwin Gaming, a subsidiary of the company, signed definitive and binding agreements to raise $28 million (Rs 232 crore) from existing investors—Nazara, Krafton and JetSynthesys—and new ones.

Vedant Fashions: Promoter Ravi Modi Family Trust will exercise the oversubscription option in the ongoing offer for sale after the non-retail investors placed bids for 223.80% of the portion reserved for them on the first day. The promoter will offload 2.88% additional stake under the greenshoe option.

Nazara Technologies: Approved Proposal Of Unit Nodwin Gaming For Raising Funds Worth 1.97b Rupees

Rail Vikas Nigam: The company has formed a joint venture, Indore MMLP Pvt., with National Highways Logistics Management and Madhya Pradesh Industrial Development Corporation to build multi modal logistics parks under the Bharatmala Project. RVNL is receiving Rs 77.62 crore for rail connectivity, NHLML is receiving Rs 186.97 crore towards MMLP land, road connectivity and other works, and MPIDC is r

Wipro: The company entered a five-year business partnership with ServiceNow to invest in and introduce new offerings to market to drive business transformation for clients.

South Indian Bank: The bank hiked marginal cost of funds based lending rates across tenures in the range of 5-10 basis points, effective May 20.

Rattanindia Enterprises: The company appointed Vinu Balwant Saini has chief financial officer, effective May 20.

Sbin Q4 results

Sbin Q4 results 

Q4 GNPA 2.78% VS 3.14% (QOQ) || Q4 NNPA 0.67% VS 0.77% (QOQ)

SL NET PROFIT RUPEES 167B VS 91B (YOY); EST 150.53B | 142B (QOQ)

STOCKS IN ACTION 18 MAY

STOCKS IN ACTION 18 MAY 

State Bank of India/HDFC Bank: The Reserve Bank of India allowed to acquire up to 9.99% of the paid-up share capital or voting rights of HDFC Bank. SBI Funds Management has been advised by RBI to acquire the shareholding by Nov. 15, 2023.

Vedanta: The company’s board will meet on May 22 to consider the first interim dividend for the fiscal 2023-24. The record date for the dividend, if approved, will be May 30.

JSW Steel: The company has been selected as the preferred bidder for composite licence of unexplored Surjagad 4 iron ore block in Gadchiroli, Maharashtra. The highest final offer price by the company is 131.05% of average monthly prices of iron ore of different grades and quality.

Surya Roshni: The company has received an order from Indraprastha Gas for supply 3LPE coated carbon steel pipes. It has also received orders from Indian Oil Corporation and Maharashtra Natural Gas in May for supply of API pipes and GI pipes. The total value of these orders is Rs 62.23 crore.

Vedant Fashions: Promoter Ravi Modi Family Trust will sell up to 9.88% stake in the company through an offer for sale on May 18 and 19. The floor price for the offer is Rs 1,161 per share.

NHPC: The company received letter of intent from Gujarat Urja Vikas Nigam for 200 MW capacity Solar Power Project within 600 MW Gujarat State Electricity Corporation’s solar park at Khavda. The estimated financial implication for project will be Rs 1,007.60 crore.

ICICI Prudential Life Insurance Company: The life insurer appointed Dhiren Salian as chief financial officer with effect from May 18 due to early retirement of Satyan Jambunathan from the post.

Bharat Heavy Electricals: The company given Jai Prakash Srivastava additional charge of the post of director (finance) for one year, effective April 18, 2023 to April 17, 2024. It also appointed Krishna Kumar Thakur as director (human resources) for a period of five years from the date of assumption of charge.

Godrej Agrovet: The company has collaborated with State Bank of India to launch a finance offering for oil palm farmers.

Lemon Tree Hotels signs licence agreement for an 82-room property in Gomti Nagar, Lucknow under the brand name, Lemon Tree Premier

Property to be operational by August, 2026

Indiabulls Real Estate: Says To Challenge NCLT Order Withholding Merger Of Co With Nam Estates, Embassy One Commercial Property Developments |To File An Appeal Before National Company Law Appellate Tribunal On Nclt Order Withholding Merger

Market Indication

Market Indication:

Global: FLAT to NEGATIVE

NIFTY: FLAT to NEGATIVE

BANKNIFTY:  FLAT to NEGATIVE

BULK Deals: Neuland Laboratories, Saksoft etc.

Stocks In F&O Ban Period: Delta Corp, GNFC, Punjab National Bank, Balrampur Chini Mills and Manappuram Finance 

Results Today: Jubilant FoodWorks, REC, Deepak Fertilisers & Petrochemicals Corporation, Devyani International, Endurance Technologies, Eris Lifesciences, Glaxosmithkline Pharmaceuticals, Honeywell Automation India, Jindal Saw, JK Tyre & Industries, Jindal Stainless, MTAR Technologies, Quess Corp, RailTel Corporation of India, Sterlite Technologies, Thermax, Vaibhav Global, and Whirlpool of India

SGX NIFTY:  (Negative)

18286     -43.00    -0.23%

Today's Market

Today's Market

US Market 

      Nasdaq = -22.16

      Dow Jones = -336.46

European

      Ftse 100 = -26.62

      Cac 40 = -12.20

      Dax = -19.31

Asian

      Nikkei 225 = +190.89

      Straits Times = -20.66

      Hang Seng = -119.84

      Taiwan weighted = +102.35

      Kospi = +9.84

SGX Nifty = 18284(-45.5)

On 16th May

Fii buys 1406.86 crore stocks

Dii sells 886.17 crore stocks

Good News :

1. Bharti Airtel profit rise 89.3%

2. LicHsgFin profit rise 5.5%

3. Oberoi Reality profit rise 106.9%

4. Jk paper profit rise 65%

5. Creditaccess Grameen profit rise 86.3%

6. Amber Ent profit rise 81.8%

7. Sterlite Tech going to raise funds

Bad News:

1. Jspl profit decline 79%

2. Metropolis profit decline 8%

3. Redington profit decline 11%

4. Hdfc MF reduce stake in Tamil Nadu Newsprint

Other News:

1. Copper price fall to 6 months low in expectation of low demand

2. Result today: Jubilant food, REC, Whirlpool, Jktyre, Railtel, Aries Lifescience, Deepak Fertilizer, GIC Housing

3. Govt can give subsidy on Fertilizer today

4. Buy back of Symphony end today

5. Anchor lock in period over for Kaynes Technology

6. BPCL going to start new project worth Rs49000 crore

Pharma, Chemical, Auto ancillary and Finance stocks will go upside today

LIC HOUSING FINANCE Q4 Result

LIC HOUSING FINANCE Q4 Result 

NET PROFIT 11.8B RUPEES VS 11.19B (YOY); 4.80B (QOQ) 

INTEREST INCOME 63.78B RUPEES VS 51.89B (YOY); 58.39B (QOQ) 

GNPA 4.41% VS 4.76% (QOQ) 

NNPA 2.50% VS 2.40% (QOQ)

*CO RECOMMENDED DIVIDEND OF 8.50 RUPEES PER SHARE*

Government debt to GDP

Government debt to GDP:

🇯🇵Japan: 264%

🇬🇷Greece: 171%

🇪🇷Eritrea: 164%

🇮🇹Italy: 145%

🇺🇸US: 129%

🇧🇭Bahrain: 120%

🇱🇰Sri Lanka: 114%

🇪🇸Spain: 113%

🇫🇷France: 112%

🇬🇧UK: 101%

🇯🇲Jamaica: 86.2%

🇦🇷Argentina: 85%

🇺🇦Ukraine: 78.4%

🇨🇳China: 76.9%

🇫🇮Finland: 73%

🇧🇷Brazil: 72.87%

🇿🇦South Africa: 67.4%

🇰🇪Kenya: 67.3%

🇩🇪Germany: 66.3%

🇹🇭Thailand: 60.96%

🇵🇭Philippines: 60.9%

🇮🇱Israel: 60.9%

🇲🇾Malaysia: 60.4%

🇳🇱Netherlands: 51%

🇰🇷South Korea: 49.6%

🇶🇦Qatar: 46.9%

🇳🇵Nepal: 41.4%

🇮🇩Indonesia: 40.9%

🇳🇬Nigeria: 38%

🇳🇴Norway: 37.4%

🇮🇶Iraq: 36.7%

🇳🇿New Zealand: 35.9%

🇮🇷Iran: 34%

🇸🇪Sweden: 33%

🇹🇷Turkey: 31.7%

🇦🇺Australia: 22.3%

🇪🇪Estonia: 18.4%

🇰🇼Kuwait: 7.1%

BHARTI AIRTEL Q4 Result

BHARTI AIRTEL Q4 Result 

NET PROFIT 30.06B RUPEES VS 15.88B (QOQ); 20.08B (YOY) 

REVENUE 360B RUPEES VS 358B (QOQ); 315B (YOY)

EBITDA 188B RUPEES VS 186B (QOQ)

EBITDA MARGIN 52.2% VS 51.95% (QOQ)

*CO RECOMMENDED A FINAL DIVIDEND OF 4 RUPEES PER SHARE*

MPS Q4 Result

MPS Q4 Result 

NET PROFIT RUPEES 321M VS 221M(YOY)

REVENUE RUPEES 1.3B VS 1.1B (YOY)

EBITDA SEEN AT 458M VS 315M (YOY)

EBITDA MARGIN SEEN AT 35.96% VS 28.78% (YOY)

*Company announced dividend Rs 20/share*

BUY TATA MOTOR

BUY TATA MOTOR FUT/CASH @ 530-32, SL 524, TGT 538, 545, 560+

FII DATA

*FII DATA

as on 15/05/2023

(fig in crores) Cash Market

FII Net 1,685.29

FII Buy 7,676.34         

FII Sell 5,991.05  

Advisory: India Vix : 13.17

FIIs were net buyers in the cash market segment to the tune of Rs. 1685 crores. Simultaneously, in Index futures, they bought worth Rs. 1290 crores with an increase in open interest, indicating long addition. In the F&O segment, fresh longs were added to key indices at the start of the week. The put writers added a good amount of positions in 18300-18200 strikes and on the other side, build-up remained scattered 18500-18700 call options. Stronger hands continued their buying streaks in equities and added a few longs in the index futures segment. Their Long Short Ratio’ advanced to 50% from 46%. Considering the above data point, we expect a continuation of the ongoing rally towards 18400-18500 and hence, would advocate using intraday declines to add longs.

SGX Nifty

SGX Nifty: 18450

Advisory: Market Pre-opening

Advisory: Support / Resistance : Intraday

Nifty Futures :

S1 - 18350 S2 - 18260

R1 - 18510 R2 - 18600

BankNifty Futures :

S1 - 43780 S2 - 43400

R1 - 44230 R2 - 44600

Nifty Highest Open Interest (18th May Weekly expiry) : Call:18500 / Put : 18300

Market Indication

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY:  FLAT to POSITIVE

BULK Deals: Neuland Laboratories, Saksoft etc.

Stocks In F&O Ban Period: Delta Corp, GNFC, Punjab National Bank, BHEL 

Results Today: Bharti Airtel, Bank of Baroda, Indian Oil Corporation, Jindal Steel & Power, Amber Enterprises India, Chemplast Sanmar, CreditAccess Grameen, Granules India, Indo Rama Synthetics, JK Paper, Jubilant Ingrevia, Kajaria Ceramics, LIC Housing Finance, Metropolis Healthcare, Oberoi Realty, Paras Defence and Space Technologies, Talbros Automotive Components, and Triveni Turbine

SGX NIFTY:  (Positive)

18448     +44.50    +0.24%

Technical View

Technical View:

Nifty is likely to find support at around 18270. 18600 is likely to act as resistance.

Bank Nifty is likely to find support at around 43500. 44300 is likely to act as resistance on the upside.

BAJAJ CONSUMER CARE Q4 RESULTS

BAJAJ CONSUMER CARE Q4 Result 

NET PROFIT 410M RUPEES VS 383M (YOY); 337M (QOQ)

REVENUE 2.44B RUPEES VS 2.19B (YOY); 2.28B (QOQ)

EBITDA 421M RUPEES VS 373M (YOY)  

EBITDA MARGIN 17.21% VS 17% (YOY).

*Bajaj declares dividend of 5 rs per share*

Result season @Quarter four 2023

Result season @Quarter four 2023  

    

May 03, 2023

Derivative Segment

  • ABB India Ltd.

  • CHOLAFIN 

  • Havells India Ltd.

  • Tata Chemicals Ltd.

  • Titan Company Ltd.

  • MRF Ltd.

  • Petronet LNG Ltd.

  • Godrej Properties Ltd.

Cash Segment

  • Sonata Software Ltd.

  • Aavas Financiers Ltd.

  • Jyothy Labs Ltd.

  • KEC International Ltd.

  • K.P.R Mill Ltd.

  • SIS Ltd.

  • SONACOMS

  • SOLARINDS

  • Anupam Rasayan India Ltd.

  • Adani Wilmar Ltd.

  

May 04, 2023

Derivative Segment

  • Dabur India Ltd.

  • HDFC 

  • Hero Motocorp Ltd.

  • TVS Motor Company Ltd.

  • TATAPOWER

  • Firstsource Solutions Ltd.

  • IDFC Ltd.

  • United Breweries Ltd.

  • Adani Enterprises Ltd.

Cash Segment

  • Blue Star Ltd.

  • APTUS

  • CEAT Ltd.

  • MINDSPACE

  • Sundaram Fasteners Ltd.

May 05, 2023

Derivative Segment

  • Marico Ltd.

  • Federal Bank Ltd.

  • Bharat Forge Ltd.

  • Brittania Industries Ltd.

  • Piramal Enterprises Ltd.

Cash Segment

  • EQUITASBNK

  • Sundaram Clayton Ltd.

  • BLUEDART

  • TATAINVEST

  • Alembic Pharmaceuticals Ltd.

  • Ajanta Pharma Ltd.

  • Gujarat Fluorochemicals Ltd.

  • PAYTM

  • Vardhaman Textiles Ltd.

May 06, 2023

Cash Segment

  • CAMS 

  • Gujarat Ambuja Exports Ltd.

  • GRINDWELL Norton Ltd.

  • Bank of India 

  • Aether Industries Ltd.

  • Union Bank of India

May 08, 2023

Derivative Segment

  • EXIDEIND 

  • PIDILITIND 

  • Coal India Ltd.

  • Aarti Industries Ltd.

  • Canara Bank Ltd.

  • Birlasoft Ltd.

  • Mahanagar Gas Ltd.

  • UPL Ltd.

Cash Segment

  • KANSAINER 

  • CGPOWER

  • CARBORUNIV

  • Indian Bank

  • IRB Invit Fund

  • Happiest Minds Techno. Ltd.

May 09, 2023

Derivative Segment

  • Rain Industries Ltd.

  • Lupin Ltd.

  • SRF Ltd.

  • Indraprastha Gas Ltd.

Cash Segment

  • JM Financial Ltd.

  • Castrol India Ltd.

  • SCI

  • LATENTVIEW

  • WESTLIFE

  • HFCL Ltd.

  • KSB Ltd.

  • Chalet Hotels Ltd.

  • Godrej Agrovet Ltd.

  • HATSUN 

  • Birla Corpopration Ltd.

  • Nuvoco Vistas Corp. Ltd.

May 10, 2023

Derivative Segment

 • Dr.Reddy's Lab. Ltd.

 • Bosch Ltd.

 • Escorts Kubota Ltd.

 • Gujarat Gas Ltd.

 • GODREJCP Ltd.

 • Larsen & Toubro Ltd.

Cash Segment

 • BASF India Ltd.

 • Sanofi India Ltd.

 • PGHH

 • Cera Sanitaryware Ltd.

 • Prism Jhonson Ltd.

 • Ratnamani Metals & Tubes Ltd.

 • Relaxo Footwears Ltd.

May 11, 2023

Derivative Segment

 • Asian Paints Ltd.

 • ABCAPITAL

 • Deepak Nitrite Ltd.

 • Gujarat State Petronet Ltd.

 • Balrampur Chini Mills Ltd.

Cash Segment

 • ALKYLAMINE 

 • ZENSARTECH 

 • Gillette India Ltd.

May 12, 2023

Derivative Segment

 • Max Financial Services Ltd.

 • Cipla Ltd.

 • Tata Motors Ltd.

 • Polycab India Ltd.

 • Manappuram Finance Ltd.

Cash Segment

 • CHOLAHLDNG 

 • Tata Motors DVR Ltd.

 • Sapphire Foods India Ltd.

May 13, 2023

Derivative Segment

 • Navin Fluorine Intnl Ltd.

May 15, 2023

Cash Segment

 • PGHL

 • PCBL Ltd.

 • Kalyan Jwellers India Ltd.

May 16, 2023

Derivative Segment

 • Granules India Ltd.

 • Indian Oil Corporation Ltd.

May 17, 2023

Derivative Segment

 • Jubilant Foodworks Ltd.

Cash Segment

 • Endurance Technologies Ltd.

May 18, 2023

Derivative Segment

 • CONCOR

 • State Bank of India

 • Ramco Cements Ltd.

Cash Segment

 • SUMICHEM

 • CLEAN

 • Gland Pharma Ltd.

May 19, 2023

Derivative Segment

 • Jsw Steel Ltd.

 • CRIOMPTON

Cash Segment

 • MSUMI

May 22, 2023

Cash Segment

 • GUJALKALI

May 23, 2023

Derivative Segment

 • Amara Raja Batteries Ltd.

 • Biocon Ltd.

Cash Segment

 • JCHAC

May 24, 2023

Derivative Segment

 • Cummins India Ltd.

May 25, 2023

Cash Segment

  • TTK Prestige Ltd.

  • ESAB India Ltd.

  • AKZOINDIA 

  • GSFC

May 26, 2023

Derivative Segment

 • MOTHERSON 

Cash Segment

  • HUDCO

  • NHPC

Today's Market

Today's Market

US Market 

      Nasdaq = -132.09

      Dow Jones = -367.17

European

      Ftse 100 = -97.54

      Cac 40 = -108.30

      Dax = -195.44

Asian

      Nikkei 225 = +34.77

      Straits Times = -30.47

      Hang Seng = -249.19

      Taiwan weighted = -80.80

      Kospi = -20.51

SGX Nifty = 18146(-74.5)

On 2nd May

Fii buys 1997.35 crore stocks

Dii sells 394.05 crore stocks

Good News :

1. Ambuja cement profit rise 1.4% and Income rise 8.4%

2. Home first profit rise 7%

3. Fino payment profit rise 22%

4. Spandan Sphoorty profit rise 544%

5. KEI profit rise 18.6%

6. M&M fin loan disbursement increase 39%

7. BL kashyap got order worth Rs238 crore

Other News:

1. FED meeting today

2. Result today: Titan, Tata chem, Godrej Prop, Chola Investment, Havells, MRF , ABB, Petronet

3. China and Japan market is closed today

4. Buyback of Symphony start from today

Chemical, Pharma, Auto ancillary and Electric Equipment stocks will go upside today

ULTRATECH CEMENT Q4 RESULTS

ULTRATECH CEMENT Q4 RESULTS 

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