KEY HIGHLIGHTS
FPI Buying Spree Enters Day 8
Foreign portfolio investors mopped up equities worth Rs 2,123.8 crore, according to data from the National Stock Exchange.
Domestic institutional investors turned buyers after a day and bought stocks worth Rs 245.3 crore, the NSE data showed.
Foreign institutions have remained net sellers and have offloaded Rs 37,194.3 crore worth of stocks so far in 2023.
Yield On The 10-Year Bond Rises
Yield on the 10-year bond gained four basis points to close at 7.05% on Monday.
Rupee Ends Flat Against The U.S. Dollar
The local currency closed flat at 81.80 against the greenback on Monday.
Source: Bloomberg
Sensex, Nifty End Over 1% Higher As Private Banks, NBFCs Gain
Indian equity benchmarks ended over 1% higher, the most in five weeks since March 31, 2023, on Monday. Private banks, NBFCs, realty and auto sectors gained the most, whereas PSU banking and media sectors were the top losers.
Asian markets were steady, whereas European stocks struggled to build on Friday’s strong rebound as traders assessed hawkish comments from policy makers and disappointing data from the region’s biggest economy.
The Stoxx Europe 600 index edged higher, with energy stocks outperforming as crude oil gained. With U.K. markets closed for a holiday in honor of King Charles III, trading volumes were relatively modest.
U.S. futures fluctuated after the S&P 500 jumped 1.9% Friday to halt its longest losing streak since February. PacWest Bancorp rose as much as 16% in premarket trading Monday.
The S&P BSE Sensex Index closed up 710 points or 1.16% at 61,764.25 while the NSE Nifty 50 Index was higher by 203 points or 1.12% at 18,271.80.
Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Bajaj Finance Ltd., and HDFC Ltd. were positively adding to the change.
Whereas, L&T Ltd., Coal India Ltd., Sun Pharmaceutical Industries Ltd., Adani Enterprises Ltd., and Dr. Reddy's Laboratories Ltd. were negatively contributing to the change in the Nifty 50 Index.
The broader market indices ended higher; S&P BSE MidCap Index was up by 0.94%, whereas S&P BSE SmallCap Index was higher by 0.57%.
Eighteen out of the 19 sectors compiled by BSE advanced, with S&P BSE Consumer Durables declined in trade.
The market breadth was skewed in the favour of the buyers. About 2,095 stocks rose 1,554 declined, and 162 remained unchanged on the BSE.
Happiest Minds Q4 Results FY23: Key Highlights (QoQ)
Q4 revenue up 2.94% to Rs 377.98 crore versus Rs 366.88 in Q3 (Bloomberg estimate: Rs 373 crore)
Q4 EBIT flat at Rs 79.23 crore versus Rs 79.54 crore in Q3
Q4 EBIT margin at 20.96% versus 21.68% in Q3
Q4 net profit up 0.13% to Rs 57.66 crore versus Rs 57.58 crore in Q3 (BBG estimate: Rs 61.25 crore)
The company has declared a dividend of Rs 3.40/share.
Source: Exchange filing
UPL Q4 FY23 (Consolidated, YoY)
Revenue up 4% at Rs 16,569 crore vs Rs 15,860 crore (BBG Est: Rs 17,202 crore)
Ebitda down 16% at Rs 3,033 crore vs Rs 3,591 crore (BBG Est: Rs 2,343 crore)
Ebitda margin at 18.3% vs 22.6% (BBG Est: 21.7%)
PAT down 43% at Rs 792 crore vs Rs 1,379 crore (BBG Est: Rs 955 crore)
Other Highlights
Reduced net debt by $440 million (Rs 3,596.12 crore) to $2.06 billion (Rs 16,847.65) driven by the significant increase in operating cash flows.
FY23 Revenue grew by 16% YoY to Rs 53,576 crore.
FY23 Ebitda grew by 10% YoY to INR 11,178 crore.
Source: Exchange filing
Stocks At 52-Week High Intraday
Nifty 500 stocks at 52-week low, intraday.
Steve Brice On Navigating Through Mixed Global Cues
Stocks In Focus IndusInd Bank, Coal India, And More
European Market Trade Higher
Q4 Review: Marico’s Net Profit Jumps 20%, Margin Beat Estimates
Sensex, Nifty Rise Over 1% As Private Banks, Realty Stocks Rise; HDFC Bank, ICICI Bank Lead
Indian equity benchmarks opened higher and rose over 1% in trade on through midday on Monday. Private banks, NBFCs, realty and auto sectors gained the most, whereas PSU banking stocks were under pressure.
Asian markets advanced for a third day, led by gains in China, amid relative calm and positive sentiment across financial markets.
Japan’s Topix dropped as traders in the nation returned from Golden Week holidays, with a gauge of bank shares falling more than 1%. Shares of Chinese banks climbed after at least three nationwide lenders lowered deposit rates, while in Australia, Westpac Banking Corp. rose 1.8% after first-half net profit beat analysts’ estimates.
Futures contracts for European stocks pointed to a muted start, while those for US equities fluctuated after the S&P 500 jumped 1.9% Friday to halt its longest losing streak since February. The Nasdaq 100 rose 2.1%, with Apple Inc. climbing almost 5% after its earnings exceeded forecasts.
As of 12:52 p.m., the S&P BSE Sensex Index was up 740 points or 1.21% at 61,794.26 while the NSE Nifty 50 Index was higher by 198 points or 1.09% at 18,266.60.
Reliance Industries Ltd., HDFC Bank Ltd., ICICI Bank Ltd., Bajaj Finance Ltd., and HDFC Ltd. were positively adding to the change.
Whereas, Coal India Ltd., Dr. Reddy's Laboratories Ltd., Adani Enterprises Ltd., L&T Ltd., and Britannia Industries Ltd., were negatively contributing to the change in the Nifty 50 Index.
The broader market indices were trading higher; S&P BSE MidCap Index was down by 0.72%, whereas S&P BSE SmallCap Index was lower by 0.65%.
All the 19 sectors compiled by BSE advanced, with S&P BSE Realty, S&P BSE Auto and S&P BSE bankex gaining the most.
The market breadth was skewed in the favour of the buyers. About 2,050 stocks rose 1,451 declined, and 170 remained unchanged on the BSE.
Tatva Chintan Pharma Shares Fall After Decline In Q4 Profit
Shares of Tatva Chintan Pharma Chem Pvt. fell 6.96% to Rs 1,720 apiece, compared to an advance in the NSE Nifty 50 by 0.94% as of 11:15 a.m.
The stock fell as much as 1.82% intraday. Total traded volume stood at 8.9 times its 30-day average.
Out of the five analysts tracking the company, three maintain a 'buy' rating, one recommends a hold and one suggests a sell, according to Bloomberg data.
The return potential, as calculated by the consensus of analyst estimates, stands at an upside of 14.5% over the next 12 months.
Tatva Chintan Pharma Chem Q4 FY23 (Consolidated, YoY)
Revenue up 26.37% at Rs 124.51 crore (Bloomberg estimate: Rs 129.10 crore)
Ebitda down 26.01% at Rs 16.27 crore (Bloomberg estimate: Rs 20.95 crore)
Ebitda margin at 13.07% vs 22.32% (Bloomberg estimate: 16.2%)
Net profit down 3.2% at Rs 16.95 crore (Bloomberg estimate: Rs 16.55 crore)
The board recommended a final dividend of Rs 2 for the fiscal 2023.
Marico Shares Gain The Most Over Two Years After Q4 Results, Brokerages Retain 'Buy' Rating
Shares of Marico Ltd. gained on Monday morning after the company declared results for the fourth quarter post market hours on May 5.
The company reported a rise in net profit by 20% on a year-on-year basis at Rs 302 crore, beating the Bloomberg estimate of Rs 285.5 crore.
Ebitda rose 14% to Rs 393 crore against the Bloomberg estimate of Rs 398.3 crore, while Ebitda margin was at 17.5% compared to 16% in the same period last year, inline with the Bloomberg estimate of 17.7%.
Marico Ltd. FY23 (Consolidated, YoY)
Revenue up 4% at Rs 2,240 crore (Bloomberg estimate: Rs 2,253.2 crore)
Ebitda up 14% to Rs 393 crore (Bloomberg estimate: Rs 398.3 crore)
Ebitda margin at 17.5% vs 16% (Bloomberg estimate: 17.7%)
Net profit up 20% at Rs 302 crore (Bloomberg estimate: Rs 285.5 crore)
MRF Shares Hit All-Time High
Shares of MRF Ltd. pared gains after it hit a life-time high of Rs 99,933.5 in trade on Monday.
The scrip fell 0.54% to Rs 98,084.95 apiece, as of 11:33 a.m., in trade on Monday compared to 0.93% advance in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 1.34% intraday to hit a life-high of Rs 99,933.5 apiece in trade. Total traded volume stood at 4.8 times its 30-day average. The relative strength index was at 83.35, implying that the stock maybe overbought.
Out of the 12 analysts tracking the company, one maintain a 'buy' rating, one recommend a 'hold' and 10 suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential downside of 16.9%.
Source: Bloomberg
JSW Energy Jumps The Most In Three Weeks After Unit Signs 300 MW Of Wind Capacity With SIEC
Shares of JSW Energy Ltd. rose the most in three weeks after its subsidiary signed a Power Purchas Agreement for 300 MW of wind capacity with Solar Energy Corporation of India Ltd.
The project has been allotted to JSW Renew Energy Three Ltd. under SECI Tranche-XII. The PPA is signed for supply of power for a period of 25 years with a tariff of Rs 2.94/KWh. The project is located in Maharashtra and is expected to be commissioned in next 24 months.
As per the exchange filing, JSW Energy has set a target for 50% reduction in carbon footprint by 2030 and achieving carbon neutrality by 2050 by transitioning towards renewable energy.
Shares of JSW Energy Ltd. rose 2.40% to Rs 266.7 apiece, as of 11:20 a.m., in trade on Monday compared to 0.94% advance in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 4.82% intraday, the most in over three weeks since April 20, 2023. Total traded volume stood at 3.3 times its 30-day average. The relative strength index was at 61.9.
Out of the 10 analysts tracking the company, one maintains a 'buy' rating, two recommend a 'hold' and seven suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential downside of 18.9%.
Source: Bloomberg, Exchange filing
Equitas Small Finance Bank Shares Rise After Net Profit Beats Estimates
Shares of Equitas Small Finance Bank Ltd. gained the most in over seven weeks after its fourth-quarter profit beat analysts' estimates.
The company's fourth-quarter consolidated net profit jumped 59.02% to Rs 190.04 crore, according to an exchange filing. Bloomberg had estimated a quarterly profit of Rs 157.59 crore in January-March.
Equitas Small Finance Bank Q4 FY23
Net interest income up 27.97% at Rs 706.96 crore (YoY)
Net profit up 59.02% at Rs 190.04 crore (YoY) (Bloomberg estimate: Rs 157.59 crore)
GNPA ratio at 2.76% vs 3.63% (QoQ)
NNPA ratio at 1.21% vs 1.82% (QoQ)
The board recommended a dividend of Rs 1 per share.
Shares of the company gained 4.91% to Rs 76.43 apiece as of 10:47 a.m. in trade on Friday, compared to a 0.98% gain in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 7.46% intraday, the most in over seven week since March. 17. Total traded volume stood at 4.3 times its 30-day average.
Of the 18 analysts tracking the company, all have a 'buy' rating, according to Bloomberg data. The 12-month consensus price target implies an upside of 9.7%
Source: Bloomberg, Exchange filing
Olectra Greentech Shares Climb Over 10% As Q4 Profit Rises
Shares of Olectra Greentech Ltd. rose the most in over eight weeks on Monday after the company reported an over 50% year-on-year rise in its fourth-quarter profit and Ebitda.
The company's net profit rose 55% year-on-year to Rs 27.49 crore in the quarter ended March, according to its exchange filing. That compares with the net profit of the period in the previous fiscal, which stands at Rs 17.77 crore.
Company's March quarter revenue was up 39% to Rs 375.91 crore compared with Rs 271.30 crore, in the same period a year back.
The board of directors also recommended a final dividend of Rs 0.40 per share for FY23, subject to approval of the shareholders.
Olectra Greentech Q4 FY23 (Consolidated, YoY)
Revenue up 38.56% at Rs 375.91 crore vs Rs 271.30 crore
Ebitda up 56% at Rs 49.98 crore vs Rs 32.05 crore
Ebitda margin at 13.3% vs 11.8%
PAT up 55% at Rs 27.49 crore vs Rs 17.77 crore
The board has recommended a final dividend of Rs 0.40 per share for FY23.
Shares of Olectra Greentech Ltd. rose 6.75% to Rs 688.4 apiece, as of 10:53 a.m., in trade on Monday compared to 0.91% advance in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 10.39% in pre-open trade, the most in over 13 weeks since March 10, 2023. Total traded volume stood at 7.3 times its 30-day average. The relative strength index was at 61.
Source: Bloomberg, Exchange filing
Coal India Shared Decline As Analysts Expect Lower Margin As Global Prices Fall
Coal India Ltd.'s shares declined after analysts flagged declining margins in FY24 as e-auction prices normalised in line with falling global prices.
Jefferies maintains a 'hold' on the stock with a price target of Rs 225 per share, implying a potential downside of 5.5%. Nuvama Institutional Equities retains 'buy' with a target price of Rs 301.
The consolidated net profit fell 17.7% over a year earlier to Rs 5,527.6 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 7,752.3 crore consensus estimate of analysts tracked by Bloomberg.
Coal India Q4 FY23 (Consolidated figures, YoY)
Revenue is up 16.9% at Rs 38,152.3 crore against the estimated Rs 35,270 crore.
Net profit down 17.7% at Rs 5,527.6 crore; the estimate was Rs 7,752.3 crore.
Ebitda is down 24.2% to Rs 6,898.1 crore versus the estimate of Rs 9,1730.2 crore.
Margins at 18.1% versus 27.8%; analysts had forecast 26%.
The board recommended a final dividend of Rs 4 per share.
Shares of the company declined 2.95% to trade at Rs 230.35, as of 10:08 a.m., compared to a 0.72% gain in the benchmark Nifty 50.
Of the 23 analysts tracking the stock, 15 maintain a 'buy,' three suggest a 'hold,' and five recommend a 'sell,' according to Bloomberg data.
Source: Bloomberg, Exchange filing
Astra Microwave Shares Rise As Board Concludes QIP Issue To Raise Rs 275-Crore
Shares of Astra Microwave Products Ltd. advanced on Monday as the company raised Rs 275 crore through a qualified institutional placement issue.
The indicative price of the QIP issue was Rs 270 per share. The company develops microwave systems used in defence, space, meteorology, and telecommunication industries. The board of directors of the company, allotted 83.33 lakh shares of face value of Rs 2 each to the eligible qualified institutional buyers.
After concluding the QIP, the paid-up equity share capital of the company stands increased from Rs 17.32 crore to Rs 18.98 crore.
Out of the 12 qualified institutional buyers, key investors include Nippon MF, Kotak MF, Tata AIA Life and IIFL. On the other hand, the key foreign investors include Societe Generale.
Shares of Astra Microwave Products Ltd. rose 1.21% to Rs 322.45 apiece, as of 9:55 a.m., in trade on Monday compared to 0.75% advance in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 1.98% in pre-open trade, the most in over 13 weeks since May 4, 2023. The relative strength index was at 81, implying that the stock maybe overbought.
Two analysts tracking the company maintain a 'buy' rating on the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 15%.
Source: Bloomberg, Exchange filing
Maruti Suzuki Breaches 9,000 In Over 13 Weeks
Shares of Maruti Suzuki India Ltd. rose 0.56% to Rs 8,999.05 apiece, as of 9:27 a.m., in trade on Monday compared to 0.60% advance in the benchmark, NSE Nifty 50 Index.
The stock rose as much as 1.09% in pre-open trade, the most in over 13 weeks since Feb. 1, 2023. Total traded volume stood at 2.2 times its 30-day average. The relative strength index was at 70.5, implying that the stock maybe overbought.
Out of the 49 analysts tracking the company, 37 maintain a 'buy' rating, seven recommend a 'hold' and five suggest to 'sell' the stock, as per the Bloomberg data.
The average calculated from the 12-month price target given by analysts implies a potential upside of 14.8%.
The net profit of the Indian unit of Japan's Suzuki Motor Corp. rose in the fourth quarter on higher sales and a rising share of sports utility vehicles. The net profit rose 43% year-on-year to Rs 2,623.6 crore in the quarter ended March, according to its exchange filing. That compares with the Rs 2,565 crore consensus forecast of analysts tracked by Bloomberg.
Maruti Suzuki Q4 FY23 Highlights (YoY):
Revenue rose 20% to Rs 32,048 crore vs. Rs 26,740 crore (Bloomberg Estimate: Rs 32,365 crore).
Net profit rose 43% to Rs 2,623.6 crore vs. Rs 1,839 crore (Bloomberg Estimate: Rs 2,565 crore).
Ebitda rose 38% to Rs 3,350.3 crore vs. Rs 2,426.8 crore (Bloomberg Estimate: Rs 3,418 crore).
Ebitda margin stood at 10.5% vs. 9.1% (Bloomberg Estimate: 10.6%).
Source: Bloomberg, Exchange filing
Broader Markets Open Higher
The broader market indices opened higher; S&P BSE MidCap Index was down by 0.39%, whereas S&P BSE SmallCap Index was lower by 0.38%.
Sixteen out of the 20 sectors compiled by BSE advanced, while four sectors declined in trade.
The market breadth was skewed in the favour of the sellers. About 1,825 stocks rose 823 declined, and 126 remained unchanged on the BSE.
Source: BSE
Top Movers On Nifty 50 Index
Sensex, Nifty Advance In Pre-Open
At pre-open, the S&P BSE Sensex Index was up 104 points or 0.17% at 61,158.24 while the NSE Nifty 50 Index was higher by 52 points or 0.29% at 18,120.60.
Source: Bloomberg
Yield On The 10-Year Bond Flat
The yield on the 10-year bond opened flat at 7% on Monday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency appreciated 4 paise to open at 81.76 against the greenback on Monday.
It closed at 81.80 on Thursday.
Source: Bloomberg
Hotels, Tyre And Realty Stocks May Continue To See Gains: Trade Setup
Global Cues
U.S. Dollar Index at 101.2
U.S. 10-year bond yield at 3.43%
Brent crude down 0.33% to $75.05 per barrel
Nymex crude down 0.29% at $71.13 per barrel
SGX Nifty up 0.18% at 18,157.5 as of 8:10 a.m.
Bitcoin down 2.32% at $28,281.50
Insider Trading
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora bought 1.45 lakh shares on May 5.
Pledge Share Details
Ramco Industries: Promoter Saradha Deepa revoked a pledge of 5.80 shares on May 3.
Trading Tweaks
Price Band Revised From 10% To 5%: Rail Vikas Nigam
Move Out of Short-Term ASM Framework: Saksoft
Bulk Deals
Som Distilleries & Breweries: Jagdish Kumar Arora bought 1.36 lakh shares (0.18%) at Rs 29.41 apiecet, Poonam Lamba bought 25,000 shares (0.03%) at 28.26 apiece, Mandori Traders sold 31,132 (0.03%), Rajesh Thakur sold 31,835 (0.03%), Bana Singh sold 44,873 shares (0.05%) at Rs 29.5 apiece.
Stocks To Watch: Adani Power, Britannia, Paytm, Marico, Canara Bank, Manappuram Finance, Lupin, UPL
Aditya Birla Fashion and Retail: The company has signed a definitive agreement to acquire a 51% stake in TCNS Clothing for Rs 1,650 crore. The company will acquire between 22% and 30.81% stakes from TCNS promoters and up to 29% stakes through an open offer at Rs 503 per share.
TCNS Clothing: The company entered into definitive agreements for combining with ABFRL, part of the Aditya Birla group. As a part of the deal, ABFRL will hold a 51% stake in TCNS Clothing for Rs 1,650 crore. Under the merger, public shareholders of TCNS (as of the effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.
SJVN: The company’s subsidiary SJVN Green Energy bagged a 100 MW connected wind power plant project from Gujarat Urja Vikas Nigam to be set up anywhere in India for approximately Rs 800 crore. The company also won a contract from Rajasthan Urja Vikas Nigam to set up a 100 MW solar power project at a cost of Rs 600 crore.
Lupin: The company will acquire the entire share capital of French pharmaceutical company Medisol for €18 million, or Rs 161.89 crore. This consideration includes an upfront payment of €14.5 million (Rs 130.41 crore) and earn-outs up to €3.5 million (Rs 31.48 crore).
Manappuram Finance: The board noted that the action against VP Nanadakumar, promoter as well as MD and CEO of the company, has nothing to do with the company and will not impact its financial positions and operations.
Bharat Forge: The board approved the appointment of Kedar Dixit as chief financial officer, with effect from July 1, 2023, after Kishore Saletore resigned from the position, effective June 30.
DCB Bank: The board accepted the resignation of Satish Gundewar from the position of chief financial officer, and identified Ravi Kumar as officer in charge. The process of appointing the new CFO is expected to be completed in the next few weeks.
Q4 Results Today
UPL, Canara Bank, Indian Bank, Kalpataru Power Transmission, Apar Industries, Pidilite Industries, CG Power and Industrial Solutions, Kansai Nerolac Paints, Aarti Industries, Mahanagar Gas, Birlasoft, Carborundum Universal, Craftsman Automation, VIP Industries, Happiest Minds Technologies, Apollo Pipes, Andhra Paper, Avadh Sugar & Energy, Exide Industries, HFCL, IndInfravit Trust, IRB InvIT Fund, Sterling Tools, Ugar Sugar Works, Wardwizard Innovations & Mobility
Earnings Fineprint
Britannia Industries Q4 FY23 (Consolidated figures, YoY)
Revenue up 13% at Rs 4,023.2 crore (Bloomberg estimate: Rs 4,066.5 crore)
Ebitda up 46% to Rs 800.9 crore (Bloomberg estimate: Rs 715.4 crore)
Ebitda margin at 19.9% Vs 15.5% (Bloomberg estimate: 17.6%)
Net profit up 47% at Rs 558.7 crore (Bloomberg estimate: Rs 501.9 crore)
Adani Power Q4 FY23 (Consolidated, YoY)
Revenues up 40% at Rs 38,773.30 crore vs Rs 27.,711.20 crore
EBITDA up 2.3% at Rs 10,044.7 crore vs Rs 9,814.16 crore
EBITDA margin at 25.9% vs 35.5%
Net profit up 118.4% at Rs 10,726.6 crore vs Rs 4,911.58 crore
Marico Q4 FY23 (Consolidated, YoY)
Revenue up 4% at Rs 2,240 crore (Bloomberg estimate: Rs 2,253.2 crore)
Ebitda up 14% to Rs 393 crore (Bloomberg estimate: Rs 398.3 crore)
Ebitda margin at 17.5% vs 16% (Bloomberg estimate: 17.7%)
Net profit up 20% at Rs 302 crore (Bloomberg estimate: Rs 285.5 crore)
Paytm Q4 FY23 (Consolidated, QoQ)
Revenues up 13.2% at Rs 2334.50 crore (Bloomberg estimate: Rs 2,325.73 crore)
EBITDA loss narrows to Rs 129.10 crore vs Ebitda loss of Rs 330.7 crore (Bloomberg estimate: Rs 209.10 crore)
Net loss narrows to Rs 168.4 crore vs Rs 392 crore (Bloomberg estimate: Rs 369.20 crore)
Alembic Pharma Q4 FY23 (Consolidated, YoY)
Revenue down 1% at Rs 1,406 crore (Bloomberg estimate: Rs 1,399 crore)
Ebitda up 33% to Rs 212 crore (Bloomberg estimate: Rs 225 crore)
Ebitda margin at 15.1% vs 11.3% (Bloomberg estimate: 16.1%)
Net profit up 6 times to Rs 153 crore (Bloomberg estimate: Rs 102 crore)
Equitas Small Finance Bank Q4 FY23
Net interest income up 27.97% at Rs 706.96 crore (YoY)
Net profit up 59.02% at Rs 190.04 crore (YoY) (Bloomberg estimate: Rs 157.59 crore)
GNPA ratio at 2.76% vs 3.63% (QoQ)
NNPA ratio at 1.21% vs 1.82% (QoQ)
The board recommended a dividend of Rs 1 per share.
DCB Bank Q4 FY23
Net interest income up 27.72% at Rs 485.95 crore (YoY)
Net profit up 25.36% at Rs 142.21 crore (YoY) (Bloomberg estimate: Rs 121 crore)
GNPA ratio at 3.19% vs 3.62% (QoQ)
NNPA ratio at 1.04% vs 1.37% (QoQ)
The board approved a dividend of Rs 1.25 per share.
Piramal Enterprises Q4 FY23 (Consolidated)
Net interest income declined 4% to Rs 1,128 crore (YoY)
Net loss widened to Rs 195.87 crore vs net profit of Rs 150.53 crore (YoY)
GNPA ratio at 3.8% vs 4% (QoQ)
NNPA ratio at 1.9% vs 1.7% (QoQ)
The board recommended a final dividend of Rs 31 per share.
Blue Dart Express Q4 FY23 (Consolidated, YoY)
Revenue up 4.34% at Rs 1,216.55 crore (Bloomberg estimate: Rs 1,273.03 crore)
Ebitda down 31.72% at Rs 199.23 crore (Bloomberg estimate: Rs 212.05 crore)
Ebitda margin at 16.38% vs 25.03% (Bloomberg estimate: 16.7%)
Net profit down 49.3% at Rs 69.44 crore (Bloomberg estimate: Rs 80.55 crore)
The board recommended a dividend of Rs 30 per share, subject to shareholders’ approval.
Olectra Greentech Q4 FY23 (Consolidated, YoY)
Revenue up 38.56% at Rs 375.91 crore
Ebitda up 31.89% at Rs 132.11 crore
Ebitda margin at 35.14% vs 36.92%
Net profit up 52% at Rs 27.01 crore
Ajanta Pharma Q4 FY23 (Consolidated, YoY)
Revenue up 1.33% at Rs 881.84 crore (Bloomberg estimate: Rs 929.32 crore)
Ebitda down 27.73% at Rs 149.37 crore (Bloomberg estimate: Rs 210.14 crore)
Ebitda margin at 16.94% vs 23.75% (Bloomberg estimate: 22.6%)
Net profit down 19.15% at Rs 122.25 crore (Bloomberg estimate: Rs 49.74 crore)
Artemis Medicare Services Q4 FY23 (Consolidated, YoY)
Revenue up 30.68% at Rs 195.28 crore
Ebitda up 50.44% at Rs 25.65 crore
Ebitda margin at 13.13% vs 11.41%
Net profit down 20% at Rs 10.60 crore
The company announced a dividend of Rs 0.45 per share for fiscal 2023.
Tatva Chintan Pharma Chem Q4 FY23 (Consolidated, YoY)
Revenue up 26.37% at Rs 124.51 crore (Bloomberg estimate: Rs 129.10 crore)
Ebitda down 26.01% at Rs 16.27 crore (Bloomberg estimate: Rs 20.95 crore)
Ebitda margin at 13.07% vs 22.32% (Bloomberg estimate: 16.2%)
Net profit down 3.2% at Rs 16.95 crore (Bloomberg estimate: Rs 16.55 crore)
The board recommended a final dividend of Rs 2 for the fiscal 2023.
Tata Investment Corporation Q4 FY23 (Consolidated, YoY)
Revenue down 40.89% at Rs 30.67 crore
Ebitda down 51.17% at Rs 22.35 crore
Ebitda margin at 72.87% vs 88.21%
Net profit up 0.7% at Rs 20.28 crore
The board has recommended a dividend of Rs 48 per share.
Zen Technologies Q4FY23 (Consolidated, YoY)
Revenue from operations up 242% at Rs 96 crore.
Ebitda up 630% at Rs 35.2 crore.
Ebitda margins at 37% vs 17%
PAT up 96% at Rs 23.37 crore.
SGX Nifty Signals Higher Open For The Benchmarks
Asian markets advanced on Monday following a chaotic week for financial markets. Stocks moved firmly higher in Hong Kong, with financial shares among those advancing strongly.
Benchmark indexes also climbed in South Korea and Australia, where a gauge of financial shares rose around 1%, led by Westpac Banking Corp.’s gain of about 3% after a first-half net profit that was slightly ahead of analyst estimates.
Japan’s Topix index, meanwhile, declined as traders returned after national holidays. A sub-gauge of bank shares on the Topix fell about 1%.
Contracts for U.S. equities were little changed after the strong performance on Wall Street on Friday. The S&P 500 halted its longest losing streak since February and climbed 1.9% as US regional banks rebounded. The Nasdaq 100 rose 2.1%, with strong earnings at Apple Inc.
The yield on the 10-year Treasury note in the U.S. was trading at 3.43%. Crude oil prices were trading above the $75 mark, while Bitcoin declined below the $29,000 level.
At 8:10 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 0.18% at 18,157.5.
Domestic benchmark indices—the BSE Sensex and the NSE Nifty 50—crashed after a stellar run to close at their lowest level in seven weeks, dragged lower by the HDFC twins.
The Indian currency markets were closed on Friday on the occasion of Buddha Purnima.
Foreign investors were net buyers for the seventh day in a row and bought equities worth Rs 777.7 crore. On the other hand, domestic institutional investors turned sellers after a day and sold stocks worth Rs 2,198.8 crore, the NSE data showed.
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