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The broader indices outperformed their larger peers with S&P BSE MidCap gaining 1.5% and S&P BSE SmallCap rising 1.15%. Sixteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Telecom, Utilities, Auto, Power and Realty indices adding over 2%.
The market breadth was skewed in the favour of bulls. About 2,236 stocks advanced, 1,159 declined and 182 remained unchanged.
In such a situation of a risk-off mode, when the investments are primarily in debt and looking towards west, the equity component has to ensure that the businesses they own should have positive cash flows, high pricing power, and zero debt on balance sheet.Amit Khosla, Founder, Valtrust Capital
Mindtree and global financial technology provider Finastra announce partnership to bring Finastra's 'Fusion Payments To Go' payments technology in banks in the UK and Ireland, the Nordics, as a managed service.
Mindtree will host Finastra's payments solution in the cloud and handle technology integration across the bank's existing solutions.
Fusion Payments To Go technology offers payments processing and clearing functionality, with automated, rapid onboarding for financial institutions.
Source: Exchange filing
Shares of Maruti Suzuki rose nearly 2.9%, the most in four sessions. The stock was among the top gainers in Nifty 50 and Nifty Auto indices.
Maruti Suzuki finalised allotment of 800 acre of land for new manufacturing plant in Haryana to produce 2.5 lakh vehicles per annum, the company announced post market hours on Friday.
Morgan Stanley reiterated 'overweight/attractive' on the stock on Monday and kept target unchanged at Rs 9,473, an implied upside of 30.20%.
Source: Exchange filing, Bloomberg
The S&P BSE MidCap outperformed its larger peers with 0.5% gains while the S&P SmallCap almost mirrored Sensex and Nifty. Eleven of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Realty rising over 1.6%. On the flipside, the S&P BSE Information Technology index lost 1%.
The market breadth was skewed in the favour of bulls. About 1,876 stocks advanced, 1,382 declined and 187 remained unchanged.
Shares of JK Paper rose over 4.7% in intraday trade after reporting a YoY uptick in net profit, revenue and Ebitda for Q4 post market hours on Friday.
The company also recommended a dividend of Rs 5.5 per share of face value of Rs 10 each.
Shares of the paper manufacturer gained over 3.3% on Friday ahead of earnings.
Trading volume is more than twice the 30-day average. Share price crossed above the 50-day simple moving average, indicating potential upward price momentum.
Source: Exchange filing, Bloomberg
No tax to be paid for cash proceeds of CHF 6.4 billion
New owner to face the indemnification costs, if any
Divestment of the assets took place at superior valuations
Proper responsive owner, higher valuations, reduction in Co2 emissions -key reasons for divestment
Approval from the Competition Commission of India makes the deal smoother with Adani
Source: Holcim Concall
Balkrishna Industries Q4 Review - Standing Still Against All Odds: Dolat Capital
U.S. FDA Flags Quality Control, Lab Standards Issues At Sun Pharma’s Halol Unit -- Exclusive
Tata Power's subsidiary Tata Power Solar secured an order of 300 Mega Watt solar project worth Rs 1,731 crore from NHPC.
The project, located in Rajasthan will be developed under CPSU scheme of IREDA. The project will be completed in 18 months and aims to generate 750 million units annually.
Solar cells and modules made in India would be used in the project installation.
With this order, the pending order book of Tata Power Solar rises to Rs 13,500 crore.
Shares of Tata Power rose nearly 2% in intraday trade. Of the 25 analysts tracking the company, nine maintain 'buy', five suggest 'hold' and 11 recommend 'sell'. The return potential of the stock is 5.8%.
Source: Exchange Filing, Bloomberg
Eicher Motors Q4 Review: Higher Exports, Better Chip Supply To Aid Volumes, Say Analysts
DMart Q4 Review: Analysts Say Long-term Outlook Looks Bright, Shares Gain
Adani Entry To Improve Fortunes Of India's Cement Sector, Say Analysts
HDFC Bank received approval from the Reserve Bank of India for setting up a step-down subsidiary through HDFC Securities Ltd. on May 13.
The subsidiary will offer broking and clearing services in International Financial Services Centre (IFSC) at GIFT City, on terms as prescribed by the RBI
Source: Exchange filing
Pune-based internal combustion engines' maker Cummins India has announced a Voluntary Retirement Scheme at its Kothrud Engine Plant in Pune.
The VRS shall be applicable for all individual employees working in Kothrud Engine Plant in shopfloor and office category, employees who are above 45 years of ago and less than 57 years of age as on May 16, 2022 and employees who are on permanent rolls of the company for 10 years or more as on May 16, 2022.
Source: Exchange filing
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Pvt. Ltd., the owner of BQ Prime.
India Bans Wheat Exports With Immediate Effect
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Pvt. Ltd., the owner of BQ Prime.
Ami Organics
Bharat Forge
Century Plyboards (India)
Dodla Dairy
Fino Payments Bank
Glaxosmithkline Pharmaceuticals
Greenply Industries
GRM Overseas
Multi Commodity Exchange India
Nava Bharat Ventures
PDS
RateGain Travel Technologies
Raymond
VIP Industries
Adani Group has entered into definitive agreements to acquire Swiss group Holcim's entire stake in two Indian cement companies Ambuja Cements Ltd. and ACC Ltd.
SBI: Raises MCLR lending rate by 10 bps across tenors.
Maruti Suzuki: The company finalised allotment of 800 acre of land for new manufacturing plant in Haryana to produce 2.5 lakh vehicles per annum.
RITES: The company secured consultancy and supervision work order for construction of the East Bank-East Coast Road Linkage Project from government of Guyana for $32,04,420.
Alkem Laboratories: MHRA had conducted an online inspection at the company’s Bioequivalence Center located at Taloja, Maharashtra. No critical or major observations were identified during the inspection.
Future Retail: CP Toshniwal has resigned as the company’s chief financial officer effective May 12.
Nazara Tech: To give one free share for every share held.
Paytm: Associate firm Paytm Insuretech Pvt. terminates the share purchase agreement to acquire 100% of Raheja QBE General Insurance Company. This comes after the share sale and purchase transaction were not consummated within the time period envisaged by the parties. Paytm remains bullish on roadmap for general insurance and intends to seek approval for new general insurance license, in while it will hold 74% majority shareholding upfront.
Tech Mahindra Q4 FY22 (Consolidated, QoQ)
Revenue up 5.81% at Rs 12,116.3 crore vs Rs 11,450.8 crore (Bloomberg Estimate: Rs 12,062.65 crore)
EBITDA up 1.38% at Rs 2,088.40 crore Vs Rs 2,060 crore (Bloomberg Estimate: Rs 2,157.86 crore)
EBITDA margin 17.24% Vs 17.99% (Bloomberg Estimate:17.88%)
Net profit up 10.03% at Rs 1,505.7 crore Vs Rs 1,368.5 crore (Bloomberg Estimate: Rs 1,419.71 crore)
Recommended final dividend of Rs 15 per share of face value of Rs 5 each
Revenue up 19% at Rs 8786.45 crore Vs Rs 7411.68 crore (Bloomberg Consensus Estimate: Rs 8721.3 crore)
Net profit up 3% crore to Rs 426.83 crore Vs Rs 413.88 (Estimate: Rs 510.41 crore)
EBITDA up 21% to Rs 739.28 crore Vs Rs 612.66 crore (Estimate: Rs 807.3 crore)
Margins at 8.4% Vs 8.3% (Estimate: 9.3%)
Eicher Motors Q4FY22 (Consolidated, YoY)
Revenue up 9% at Rs 3,193 crore vs Rs 2,940 crore (Bloomberg estimate: Rs 3,193 crore)
EBITDA up 19% at Rs756.57crore vs Rs 635 crore (Bloomberg estimate: Rs711 crore)
EBITDA margins at 23.7% vs 21.6% (Bloomberg estimate: 22.27%)
Net profit up 16% at Rs 610 crore vs Rs 526 crore (Bloomberg estimate: Rs 596 crore)
Appointed B Govindarajan as Chief Executive Officer
Bank of Baroda Q4FY22 (Standalone)
Net interest income up 21% at Rs 8611.67 crore Vs Rs 7106.62 crore (YoY)
Net profit of Rs 1,778.77 crore Vs Net loss of Rs 1,046.5 crore (YoY)
GNPA 6.61% Vs 7.25% (QoQ)
NNPA 1.72% Vs 2.25% (QoQ)
Recommended dividend of Rs 1.2 per share of face value of Rs 2 each
REC Q4FY22 (Consolidated, QoQ)
Revenue fell 4.02% at Rs 9,633.37 crore Vs Rs 10,037.05 crore
EBIT fell 8.65% at Rs 8,190.5 crore Vs Rs 8966.1 crore
EBIT margin 85.02% Vs 89.33%
Net profit fell 17.02% at Rs 2,301.33 crore Vs Rs 2,773.44 crore
Recommended final dividend of Rs 4.8 per share of face value of Rs 10
Amber Enterprises Q4 FY22 (Consolidated, QoQ)
Revenue up 99% at Rs 1,936.69 crore Vs Rs 974.29 crore
EBITDA up 70% at Rs 125.27 crore Vs Rs 73.63 crore
EBITDA margin 6.47% Vs 7.56%
Net profit up 80% at Rs 59.3 crore Vs Rs 32.93 crore
Balkrishna Industries Q4 FY22 (Consolidated, YoY)
Revenue up 30.83% at Rs 2,374.21 crore Vs Rs 1,814.74 crore
EBITDA fell 17.7% at Rs 503.08 crore Vs Rs 611.76 crore
EBITDA margin 21.19% Vs 33.71%
Net profit fell 1.34% at Rs 374.84 crore Vs Rs 379.95 crore
Recommended final dividend of Rs 4 per share of face value of Rs 2 each
Carborundum Q4 FY22 (Consolidated, YoY)
Revenue up 15% at Rs 869.29 crore Vs Rs 756.57 crore
EBITDA fell 30% at Rs 110.92 crore Vs Rs 158.46 crore
EBITDA margin 12.76% Vs 21%
Net profit fell 37% at Rs 57.03 crore Vs Rs 90.53 crore
Recommended final dividend of Rs 2 per share of face value of Rs 1
JK Paper Q4FY22 (Consolidated, YoY)
Revenue up 49% at Rs 1,339.82 crore Vs Rs 898.16 crore
EBITDA up 47% at Rs 335.98 crore Vs Rs 228.43 crore
EBITDA margin 25.08% Vs 25.43%
Net profit up 25% at Rs 170.17 crore Vs Rs 136.07 crore
Recommended dividend of Rs 5.5 per share of face value of Rs 10 each
CESC Q4 FY22 (Consolidated, QoQ)
Revenue up 6.5% at Rs 3,011 crore Vs Rs 2,826 crore
EBITDA up 27.7% at Rs 696 crore Vs Rs 545 crore
EBITDA margin 23.12% Vs 19.3%
Net profit up 28.8% at Rs 424 crore Vs Rs 329 crore
Nazara Technologies Q4 FY22 (Consolidated, QoQ)
Revenue fell 5.7% at Rs 175.1 crore Vs Rs 185.8 crore
EBIT fell 91% at Rs 1.60 crore Vs Rs 18.4 crore
EBIT margin 0.91% Vs 9.9%
Net profit fell 78% at Rs 2.2 crore Vs Rs 10.3 crore
Recommended bonus issue in 1:1 ratio
Approved increase in authorized share capital from Rs 15 crore to Rs 30 crore
Appointed Veerappan K.R as the Chief Financial Officer effective May 14.
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