About 15.5 lakh shares of Ashok Leyland changed hands in a single block, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of Exide Industries fluctuated between gains and losses to trade 0.9 percent lower at Rs 212.90 after announcing its March quarter results.
Key Earnings Highlights (Q4, YoY)
- Revenue up 5.7 percent to Rs 2,598.7 crore
- Net profit up 11.1 percent to Rs 210.7 crore
- Ebitda up 10.4 percent to Rs 373.3 crore
- Margin at 14.4 percent versus 13.7 percent
Kotak Mahindra Bank Ltd.’s profit rose 25 percent on a yearly basis in March quarter to Rs 1,408 crore, according to its stock exchange filing. The analysts tracked by Bloomberg had pegged the bottomline at Rs 1,394 crore.
Key Earnings Highlights (Q4, YoY)
- Net Interest Income up 18 percent to Rs 3,048 crore
- GNPA at 2.14 percent vs 2.07 percent (QoQ)
- NNPA at 0.75 percent versus 0.71 percent (QoQ)
- Provisions down 44 percent to Rs 171 crore
- NIM at 4.48 percent versus 4.33 percent
Shares of Kotak Mahindra Bank fell as much as 1.5 percent to Rs 1,358.50 after the results announcement.
- Current capitalisation level is adequate with sufficient cushion over minimum CRAR required as per regulations
- Company is planning to raise capital to achieve target growth
- Would be presenting capital raising plan to the Board over the next few weeks.
- Sufficient room to raise Tier 2 capital to further improve the CRAR
- Corporate Loan book of the Company is 21 percent of the AUMs
- Our lending in this space is primarily to marquee players
- As on March 31, the company's Stage 3 proportion in this book is around 0.17 percent (unaudited and provisional)
Source: Company Filings
- National Company Law Appellate Tribunal allows insolvency case against Reliance Communications to proceed
- NCLAT allows Reliance Communications to withdraw challenge to insolvency case
Source: Bloomberg
Shares of Britannia Industries fell over 1.3 percent to Rs 2,929.50. The stock declined 1.6 percent intraday.
The Bombay Stock Exchange has sought clarification from the company regarding the reports of the arrest of Wadia Group’s Ness Wadia.
Wadia was reportedly arrested by customs officials at New Chitose Airport in March for illegally carrying 25 grams of what appeared to be cannabis resin, said the Financial Times article, citing a local report.
Wadia, however, returned to India after a two-year jail term slapped by the Sapporo District Court was suspended for five years.
A Wadia Group spokesperson said the “judgement was clear” and will not impact Wadia in the discharging of any of his responsibilities.
“He will continue to play the role that he has done hitherto, both within the Group and outside,” said the group’s spokesperson in response to BloombergQuint’s query.
Shares of Godrej Properties fluctuated between gains and losses to trade 1.5 percent lower at Rs 841.65 after announcing its March quarter results.
The company reported a net profit of Rs 156.66 crore during January-March period, a jump of 271 percent from the year-ago period, according to its stock exchange notification. That compared with Rs 118-crore consensus analysts estimate tracked by Bloomberg.
Key Earnings Highlights (Q4, YoY)
- Revenue up 407.7 percent to Rs 1,053.09 crore.
- Ebitda at Rs 166.89 crore versus Ebitda loss of Rs 234.65 crore.
- Margin at 15.8 percent.
About 11.5 lakh shares of Yes Bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the state-owned company rose as much as 16 percent to hit an all-time high of Rs 112.35.
The Kolkata-based company won a contract for construction and delivery of eight ASW Swallow Water Craft valuing around Rs 6,311.32 crore under fixed price basis, according to an exchange filing. The project is expected to be completed within 84 months from the date of signing of the contract.
The trading volume was more than 100 times its 20-day average, Bloomberg data showed.
Nifty’s 11,700 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract fell 39.88 percent to Rs 41. Over 12.22 lakh shares were added to the open interest which stood at over 26.33 lakh shares.
The Supreme Court today has set aside the merger of 63 Moons Technologies Ltd. and National Spot Exchange Ltd.
HDFC AMC (Q4, YoY)
- Stock rose as much as 2.3 percent to Rs 1,650
- Revenue up 3.8 percent to Rs 486.50 crore
- Net Income up 60 percent to Rs 276.17 crore
Indian Energy Exchange (Q4, YoY)
- Stock rose as much as 1.3 percent to Rs 161.75
- Revenue up 2.2 percent to Rs 56.4 crore
- Net profit up 20.7 percent to Rs 37.9 crore
- Ebitda up 13 percent to Rs 49.7 crore
- Margin at 88.1 percent versus 79.7 percent
Foseco (Q4, YoY)
- Stock fell as much as 2.4 percent to Rs 1,385
- Revenue down 10 percent to Rs 84.2 crore
- Net profit up 8.9 percent to Rs 8.6 crore
- Ebitda up 2.4 percent to Rs 13 crore
- Margin at 15.4 percent versus 13.6 percent
Supreme Petrochem (Q4, YoY)
- Stock rose as much as 1.6 percent to Rs 216.85
- Revenue down 7.4 percent to Rs 822 crore
- Net profit down 5.6 percent to Rs 38.9 crore
- Ebitda down 4.7 percent to Rs 65.1 crore
- Margin at 7.9 percent versus 7.7 percent
Bank of Maharashtra (Q4, YoY)
- Stock fell as much as 8.9 percent to Rs 17.50
- NII up 13.5 percent at Rs 999.93 crore
- Net Profit at Rs 72.38 crore versus loss of Rs 113.51 crore
- Gross NPAs at 16.40 percent versus 17.31 percent (QoQ)
- Net NPAs at 5.52 percent versus 5.91 percent (QoQ)
Reliance Nippon (Q4, YoY)
- Stock fell as much as 7.6 percent to Rs 187.05
- Revenue down 22 percent to Rs 343.2 crore
- Total expenses down 35 percent to Rs 185 crore
- Net profit up 31.6 percent to Rs 152.1 crore crore
- Other Income up 25 times to Rs 54.3 crore
Castrol (Q1 CY19, YoY)
- Stock fell as much as 2.2 percent to Rs 150.60
- Revenue up 5.3 percent to Rs 976.2 crore
- Ebitda up 3.2 percent to Rs 283 crore crore
- Margin 29 percent versus 29.5 percent
- Net profit up 1.8 percent to Rs 185 crore
Trent (Q4, YoY)
- Stock rose as much as 2.8 percent to Rs 365
- Revenue up 26.5 percent to Rs 668.67 crore
- Net profit up 36.8 percent to Rs 16 crore
- Ebitda up 35.5 percent to Rs 33.75 crore
- Margin at 5 percent versus 4.7 percent
Orient Cement (Q4, YoY)
- Stock rose as much as 14.7 percent to Rs 116.40
- Revenue up 21 percent to Rs 750.8 crore
- Net Profit up 383.8 percent to Rs 62 crore
- Ebitda up 105 percent to Rs 153 crore
- Margin at 20.4 percent versus 12 percent
RPG Lifesciences (Q4 YoY)
- Stock fell as much as 13.5 percent to Rs 245.75
- Revenue down 17.6 percent to Rs 68.8 crore
- Net profit up 23 percent to Rs 1.5 crore
- Ebitda down 23.7 percent to Rs 6.6 crore
- Margin at 9.5 percent versus 10.3 percent
- Higher other income and lower tax expense led to higher profits
Will Reliance Home Finance Rating Cut Spell Fresh Trouble For Credit Markets?
Shares of Hero MotoCorp fell as much as 3.02 percent to Rs 2,525.25.
The company’s quarterly profit fell during March quarter as India’s largest two-wheeler maker continued to face challenges from the slowdown in the automobile industry.
Key Earnings Highlights (Q4, YoY)
- Revenue down 7.9 percent to Rs 7,885 crore
- Net profit down 24.5 percent to Rs 730.3 crore
- Ebitda down 22 percent to Rs 1,069 crore
- Margin at 13.6 percent versus 16 percent
Here’s what analysts had to say after the results announcement:
CLSA
- Maintained ‘Sell’; cut price target to Rs 2,375 from Rs 2,400
- Weak March quarter and lacklustre outlook
- Margins likely to be under pressure
- Success of new products key for a better outlook
Jefferies
- Maintained ‘Hold’; hiked price target to Rs 2,550 from Rs 2,530
- March quarter results were largely in line; stay cautious
- June quarter to remain weak; mgmt. hopeful of better second half
- See challenges in medium-term growth & market share due to weakness in high growth segments
Shares of Coffee Day Enterprises rose as much as 6.5 percent, the most in over a month, to Rs 284.15.
About 3.27 crore shares or 20 percent equity of Mindtree traded in a single block during pre-market on Bombay stock Exchange at Rs 976 apiece, Bloomberg data showed. Buyers and sellers were not known immediately.
That, however, comes when L&T has mounted a three-step hostile bid to acquire the IT company—by buying 20.3 percent owned by VG Siddhartha’s Coffee Day Group, acquiring 15 percent from the open market and launching an open offer for additional 31 percent at Rs 980 apiece.
Yes Bank’s Surprise Q4 Loss: What Brokerages Are Saying
Yes Bank’s Surprise Q4 Loss: What Brokerages Are Saying
- Foods Inn ex-date for bonus issue at 2:1
- India Grid Trust record date for Income Distribution (InvIT) at Rs 3 per unit
- Arvind Fashions to move out of short term ASM Framework
- Cox & Kings Financial Service price band revised to 10 percent
- Apollo Tyres promoter group Motley Finance created pledge of 41.25 lakh shares and revoked pledge of 38.5 lakh shares and promoter group Apollo Finance revoked pledge of 35 lakh shares from April 22-24
- Emami promoter group Bhanu Vyapaar created pledge of 16.7 lakh shares on April 22-23
- Sun Pharma promoter group Shanghvi Finance revoked pledge of 43.75 lakh shares on April 25
- Forbes & Company promoter Shapoorji Pallonji created pledge of 33.53 lakh shares on April 25
- GATI promoter group Mahendra Kumar Agarwal and Sons HUF invoked pledge of 55,000 shares on April 23
(As reported on April 26)
- Indiabulls Real Estate: Shree Naman Developer acquired 26 lakh shares or 0.58 percent equity at Rs 124.07 each
- MCX: JP Morgan Funds acquired 2.67 lakh shares or 0.52 percent equity at Rs 826.46 each
- Sterlite Technologies: BNP Paribas Arbitrage acquired 24.39 lakh shares or 0.61 percent equity at Rs 181 each
Neogen Chemicals IPO: Here’s All You Need To Know
Earnings Reaction To Watch
Hero MotoCorp (Q4, YoY)
- Revenue down 7.9 percent to Rs 7,885 crore
- Net profit down 24.5 percent to Rs 730.3 crore
- EBITDA down 22 percent to Rs 1,069 crore
- Margin at 13.6 percent versus 16 percent
Yes Bank (Q4, YoY)
- Net Interest Income up 16 percent to Rs 2,505.93 crore
- Net loss at Rs 1,506 crore versus net profit to Rs 1,179 crore
- Provisions at Rs 3,661 crore versus Rs 550 crore (QoQ)
- Gross NPAs at 3.22 percent versus 2.10 percent (QoQ)
HDFC AMC (Q4, YoY)
- Revenue up 3.8 percent to Rs 486.50 crore
- Net Income up 60 percent to Rs 276.17 crore
Indian Energy Exchange (Q4, YoY)
- Revenue up 2.2 percent to Rs 56.4 crore
- Net profit up 20.7 percent to Rs 37.9 crore
- Ebitda up 13 percent to Rs 49.7 crore
- Margin at 88.1 percent versus 79.7 percent
Foseco (Q4, YoY)
- Revenue down 10 percent to Rs 84.2 crore
- Net profit up 8.9 percent to Rs 8.6 crore
- EBITDA up 2.4 percent to Rs 13 crore
- Margin at 15.4 percent versus 13.6 percent
Supreme Petrochem (Q4, YoY)
- Revenue down 7.4 percent to Rs 822 crore
- Net profit down 5.6 percent to Rs 38.9 crore
- Ebitda down 4.7 percent to Rs 65.1 crore
- Margin at 7.9 percent versus 7.7 percent
Bank of Maharashtra (Q4, YoY)
- NII up 13.5 percent at Rs 999.93 crore
- Net Profit at Rs 72.38 crore versus loss of Rs 113.51 crore
- Gross NPAs at 16.40 percent versus 17.31 percent (QoQ)
- Net NPAs at 5.52 percent versus 5.91 percent (QoQ)
Reliance Nippon (Q4, YoY)
- Revenue down 22 percent to Rs 343.2 crore
- Total expenses down 35 percent to Rs 185 crore
- Net profit up 31.6 percent to Rs 152.1 crore crore
- Other Income up 25 times to Rs 54.3 crore
Castrol (Q1 CY19, YoY)
- Revenue up 5.3 percent to Rs 976.2 crore
- Ebitda up 3.2 percent to Rs 283 crore crore
- Margin 29 percent versus 29.5 percent
- Net profit up 1.8 percent to Rs 185 crore
Trent (Q4, YoY)
- Revenue up 26.5 percent to Rs 668.67 crore
- Net profit up 36.8 percent to Rs 16 crore
- Ebitda up 35.5 percent to Rs 33.75 crore
- Margin at 5 percent versus 4.7 percent
Orient Cement (Q4, YoY)
- Revenue up 21 percent to Rs 750.8 crore
- Net Profit up 383.8 percent to Rs 62 crore
- Ebitda up 105 percent to Rs 153 crore
- Margin at 20.4 percent versus 12 percent
RPG Lifesciences (Q4 YoY)
- Revenue down 17.6 percent to Rs 68.8 crore
- Net profit up 23 percent to Rs 1.5 crore
- Ebitda down 23.7 percent to Rs 6.6 crore
- Margin at 9.5 percent versus 10.3 percent
- Higher other income and lower tax expense led to higher profits
- Sun Pharma clarified that the U.S. FDA conducted an inspection in its Dadra plant from March 22-29, issuing Form 483 with 11 observations. The pharma company stated in its press release that it has submitted its response to the U.S. FDA within stipulated timeline and there is no material impact of the news of the drug regulator finding quality issues in the afore mentioned plant on the company.
- Sudarshan Chemical completed the divestment of its Industrial Mixing Solutions Division to GMM Pfaudler.
- Bank of Maharashtra: Board approved fund raising of Rs 3,000 crore via issue to Government and Rs 1,000 crore via bonds. Also approved set-off of accumulated losses worth Rs 7,327.5 crore against reserves.
- Reliance Home Finance: CARE Ratings downgraded company’s long-term debt program to default rating. The long-term debt program at Rs 4,978 crore. ICRA downgrades company’s commercial paper program worth Rs 1,200 crore to A4 from A2.
- Eclerx Services: Board determined the buyback price at Rs 1,500 per share for 17.46 lakh shares, or 4.52 percent of total equity capital, aggregating to Rs 262 crore, Record date for this buyback is set on May 10. The buyback price is at a premium of 33 percent to the lat regular trade.
- Eveready Industries: BM Khaitan resigned from the chairman’s and non-executive director’s post with effect from April 26, due to old age. Board designated him as ‘Chairman Emeritus’ of the company. India Ratings and Research has downgraded company’s long-term credit rating from IND AA- to IND A, with negative outlook, due to high net leverage and weakened liquidity.
- Tata Steel confirmed incident occurring at Port Talbot site involving a spillage of molten iron during the routine transfer from the blast furnace to the Steel Making Facilities. In its press release it stated that the spillage led to fire which was extinguished by emergency services. The company said that further investigations are underway to assess the damage and potential material impact on production.
- Shankara Building Products: Board approved partial sale of assets of its arm, Taurus Value Steel and Pipes.
- Dr. Lal Pathlabs: Received show-cause notice (dated April 22) from the GST department, demanding for a service tax of Rs 229.51 crore from services provided from October 2013 to June 2017. The company says it is currently examining the aforesaid notice and legal options available.
- SKF India: Chandramowli Srinivasan resigned from the post of CFO of the company, due to personal reason with effect from July 24.
- Texmaco Rail & Engineering: Board said that the NCLT approved amalgamation between the company, Texmaco Hitech and Bright Power. Board has also approved rights issue up to Rs 200 crore and raising capital via debt up to Rs 300 crore. In its press release, the management also approved acquisition of steel casting foundry from Simplex Castings for Rs 87.5 crore, resulting in the capacity addition of more than 50 percent for the company.
- Sanghvi Movers Promoter Dispute Case: Former CMD P.Sanghvi and family (CPS Group) stated that they are in the process of challenging the arbitrator’s order. The family dispute is between CPS group and Ani lakhumar Sanghvi and family (APS) group. Present controlling stake of CPS group in the company is at 46.83 percent as per recent exchange filings.
- Repro India: Board approved conversion of 5.92 lakh warrants into same number of equity shares. Malabar Group received 5.18 lakh shares while Vijay Kedia received 74,000 shares. These warrants were allotted at Rs 675 per share, which is still at premium of 14 percent to the current market prices.
- Corporation Bank appointed V Muthukrishnan as CFO with effect from April 25
- NBCC submitted its revised resolution plan for Jaypee Infratech
- Greaves Cotton to consider share buyback on May 2.
- CCI approved acquisition of share capital of NIIT Technologies by Hulst BV
- Max India: said it is exploring new lines of businesses after divesting healthcare and health Insurance. Likely to enter businesses with adjacencies to current group businesses of life insurance, real estate, senior care, hospitality. Part of the divestment proceeds proposed to be offered to public shareholders.
- Garden Reach Shipbuilders: awarded contract for construction and delivery of eight ASW Swallow Water Craft valuing around Rs 6,311.32 crore under fixed price basis. The project is expected to be completed within 84 months from the date of signing of the contract.
- NHPC: signed a Memorandum of Understanding (MoU) with Indian Army to undertake construction of semi underground bunkers and fully underground caverns at different locations in India.
- U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin travel to Beijing to continue trade talks. China and the U.S. hope to seal a deal by early May.
- Euro-zone GDP data and China’s manufacturing PMI are due on Tuesday.
- The U.S. Fed’s rate decision is on Wednesday, while the Bank of England sets interest rates Thursday.
- Friday brings the U.S. jobs report: non-farm payrolls are projected to rise by 187,000 in April. Economists expect an unemployment rate of 3.8 percent, with average hourly earnings growth picking up to 3.3 percent.
- 5 p.m.: India eight infrastructure industries index for March (prior +2.1 percent)
- Copper ended 0.06 percent lower.
- Aluminium ended lower for the third consecutive trading session, down 0.49 percent.
- Nickel ended 0.11 percent lower.
- Tin halted a two-day gaining streak, closed 1.36 percent lower.
- Lead ended higher for the fourth consecutive trading session, up 0.87 percent.
- Zinc ended higher for the second day, up 0.87 percent.
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