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IndiGo CEO Ronojoy to step down on September 30.
Former KLM Royal Dutch Airlines CEO Pieter Elbers named new CEO.
Source: Exchange filing
Edtech unicorn Vedantu lays off 424 employees, about 7% of the company's workforce.
“War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well. Given this environment, capital will be scarce for upcoming quarters,” CEO Vamsi Krishna said.
Source: Vedantu blog
10-year bond yield fell 3bps to 7.34% during the session.
The yield on the 10-year bond trimmed its losses to close at 7.35%.
Source: Bloomberg
The S&P BSE MidCap almost mirrored its larger peers while the S&P BSE SmallCap outperformed Sensex and Nifty, rising 0.33%. Sixteen of the 19 sectoral indices declined with S&P BSE Realty losing nearly 2% and S&P BSE Telecom falling 1%.
The market breadth is skewed in the favour of bulls. About 1,920 stocks advanced, 1,429 declined and 117 remained unchanged.
Bharti Airtel Rises After Subscriber Gains Top Jio, Vodafone Idea In Q4
Sun Pharmaceutical Industries announced the launch of Bempedoic Acid, its first-in-class oral drug to reduce low-density lipoprotein cholesterol in India.
The drug, launched by one of Sun Pharma's wholly owned subsidiaries, will be sold under the brand name "Brillo".
The drug is indicated for people who have an inherited genetic disorder that causes high cholesterol levels or established heart disease where cholesterol remains high.
Source: Exchange filing
Ethos IPO Subscription Status: Day 1 Updates
Paradeep Phosphates IPO Subscription Status: Day 2 Updates
Revenue up 25% at Rs 2282.83 crore Vs Rs 1821.58 crore (BBG Estimate: Rs 2403.10 crore)
Net profit at Rs 31.9 crore Vs net loss of Rs 195.86 crore (BBG Estimate: Net loss of Rs 29 crore)
EBITDA up 59% to Rs 373.02 crore Vs Rs 235.91 crore (BBG Estimate: Rs 288.95 crore)
Margins at 16.3% Vs 12.9% (BBG Estimate: 12%)
Source: Exchange filing
Rupee Erases Gains Against The Dollar
The Indian currency rose 0.12% to 77.47 during the session.
Source: Bloomberg
The Cabinet has approved the proposal for the Board of Directors of the Holding / Parent Public Sector Enterprises to recommend and undertake the process for Disinvestment
This includes the strategic disinvestment and minority stake sale or closure of any of their subsidiaries / units / stake in Joint ventures which previously required approval from the cabinet and the CCEA.
The Cabinet has empowered Alternative to accord ‘in principle’ approval for disinvestment.
Source: Press Information Bureau
1. To allow more feedstocks for production of biofuels
2. To advance ethanol blending target of 20% blending of ethanol in petrol to 2025-26 from 2030
3. To promote production of biofuels in the country under Make in India programme
4. To add new members to NBCC
5. To grant permission for export of biofuels in specific cases and
6. To delete/amend some phrase in the policy in line with the decisions of National Biofuel Coordination Committee.
Source: Press Information Bureau
LIC No 'Spring Chicken', Shankar Sharma Says After Flop Listing
The S&P BSE MidCap almost mirrored its larger peers while S&P BSE SmallCap outperformed Sensex and Nifty, gaining 0.25%. Twelve of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty index losing over 1.6%.
The market breadth was skewed in the favour of bulls. About 1,835 stocks advanced, 1,399 declined and 152 remained unchanged.
Shares of RHI Magnesita India Ltd. headed for a fourth day of gains following its inclusion in the MSCI India Small Cap Index.
Shares of the miner rose as much as 8.4%, the highest since April 28.
Trading volume is nearly twice the 30-day average. Share price crossed above 50-day simple moving average, suggesting potential upward price momentum.
Source: Bloomberg
Ruchi Soya To Acquire Parent Patanjali's Food Business, Change Name
NSE Nifty Pharma index rose over 1%, aided by gains in Biocon, Granules and Cipla.
Sixteen of the 20 constituents of the Pharma index advanced.
Source: Bloomberg
Shares of DLF Ltd. rose over 3.2%, the most in two days, after the company reported YoY residential pre-sales growth of 158% in Q4.
Revenue fell 9.65% at Rs 1,547.26 crore
EBITDA fell 19% at Rs 367.54 crore
EBITDA margin at 23.75% vs 26.50%
Net profit fell 15.7% to Rs 405.33 crore
Recommended dividend of Rs 3 per share
Analysts expect the residential sales growth to witness steady momentum in FY23 as competition is low and demand remains strong.
Trading volume is more than quadruple the 30-day average. Of the 22 analysts tracking the company, 19 maintain 'buy', two suggest 'hold' and one recommends 'sell'. The return potential of the stock is 32.1%.
Source: Exchange filing, Bloomberg, Brokerage note
Dr Lal PathLabs Q4 Results: Profit Falls 27%, Misses Estimates
Bajaj Auto Shares Fall Even As Most Analysts Say ‘Buy’ After Q4 Results
Aditya Birla Fashion and Retail
Barbecue Nation Hospitality
Arvind Ltd.
Brookfield India Real Estate Trust REIT
Finolex Industries
Gujarat Pipavav Port
Granules India
Indraprastha Gas
InterGlobe Aviation (IndiGo)
Indian Overseas Bank
ITC Ltd.
JK Lakshmi Cement
LIC Housing Finance
Lupin
Manappuram Finance
Navneet Education
Pidilite Industries
Route Mobile
Sandur Manganese & Iron Ores
Shyam Metalics and Energy
TeamLease Services
Westlife Development
Motilal Oswal: The brokerage has approved buyback of 14.54 lakh shares at Rs 1,100 per share.
Jet Airways: The airline successfully conducted proving flights over two days. It expects to get the air operator certificate from DGCA.
Bharat Rasayan: A fire occurred at one block of the Dahej plant, and the cause of fire is under investigation. The company has full insurance coverage for the same.
TVS Motor: The company will divest its entire stake in Intellicar to Fabric IOT for Rs 45 crore. The divestment is part of the value creation initiatives on its digital portfolio, said Rajesh Narasimhan, Director and CEO of TVS Digital.
Zydus Lifesciences: The company will consider buyback of shares on May 20.
EKI Energy: The company approved migration of from SME platform of BSE to Main Board of BSE.
Bharti Airtel Q4 FY22 (Consolidated, QoQ)
Revenue up 5.47% at Rs 31,500 crore
EBITDA up 9.1% at Rs 16,040 crore
EBITDA margin 50.92% vs 49.23%
Net profit up 142% at Rs 2,007.8 crore
ARPU up 7.2% at Rs 178 vs Rs 163
Appoints two new independent directors
Indian Oil Q4 FY22 (Consolidated, YoY)
Revenue up 26.14% at Rs 2,09,049.16 crore
EBITDA down 0.47% at Rs 14,272.63 crore
EBITDA margin 6.83% vs 8.65%
Net profit down 26.38% at Rs 6,645.72 crore
Recommended issue of bonus shares in the ratio of 1:2
Recommended final dividend of Rs 3.6 per share
Dr. Lal Pathlabs Q4 FY22 (Consolidated, YoY)
Revenue up 13% at Rs 486 crore
Net profit down 27% at Rs 61 crore
EBITDA fell 1% to Rs 121 crore
EBITDA margin at 24.9% vs 28.3%
EPS at Rs 7.41 per share Vs Rs 10.1
PI Industries Q4 FY22 (Consolidated, YoY)
Revenue up 16.5% at Rs 1,395.2 crore vs Rs 1,197.1 crore
EBITDA up 34.12% at Rs 305 crore vs Rs 227.4 crore
EBITDA margin at 21.86% vs 19%
Net profit up 13.68% at Rs 204.4 crore
Recommended final dividend of Rs 3 per share
DLF Q4 FY22 (Consolidated, YoY)
Revenue fell 9.65% at Rs 1,547.26 crore
EBITDA fell 19% at Rs 367.54 crore
EBITDA margin at 23.75% vs 26.50%
Net profit fell 15.7% to Rs 405.33 crore
Recommended dividend of Rs 3 per share
GMR Infrastructure Q4 FY22 (Consolidated, YoY)
Revenue fell 17.48% at Rs 1,283.6 crore
EBITDA fell 32% to Rs 534.15 crore
EBITDA margin at 41.61% vs 50.5%
Net loss at Rs 128.95 crore vs Rs 723.36 crore
EID Parry (India) Q4 FY22 (Consolidated, YoY)
Revenue up 46.19% at Rs 5,667.34 crore
EBITDA up 128.5% at Rs 619.04 crore
EBITDA margin at 10.92% vs 7%
Net profit at Rs 302.52 crore vs net loss of Rs 6.34 crore
IRB Infrastructure Developers Q4 FY22 (Consolidated, YoY)
Revenue fell 10.72% at Rs 1,433.62 crore Vs Rs 1,605.84 crore
EBITDA fell 15.6% at Rs 641.58 crore Vs Rs 760.08 crore
EBITDA margin 44.75% Vs 47.33%
Net profit fell 26.22% at Rs 162.07 crore Vs Rs 219.68 crore
Jubilant Ingrevia Q4 FY22 (Consolidated, YoY)
Revenue up 89.4% at Rs 1,295.75 crore
EBITDA up 12% at Rs 142.37 crore
EBITDA margin at 11% vs 18.58%
Net profit up 26.18% at Rs 68.59 crore
NOCIL Q4 FY22 (Consolidated, YoY)
Revenue up 43.7% at Rs 462.74 crore
EBITDA up 111.58% at Rs 114.93 crore
EBITDA margin at 24.84% vs 16.87%
Net profit up 84.62% at Rs 68.92 crore
Recommended dividend of Rs 3 per share
Minda Corp. Q4 FY22 (Consolidated, YoY)
Revenue up 19.35% at Rs 947.76 crore
EBITDA up 21.08% at Rs 107.74 crore
EBITDA margin 11.37% vs 11.21%
Net profit up 39% at Rs 75.86 crore
Recommended final dividend of Rs 0.7 per share
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