Yield on the 10-year bond rose 8bps to 7.48%, highest since 2019.
10-year bond yield closed at 7.45%.
The yield has closed above 7.37% for three consecutive sessions.
Source: Bloomberg
Rupee Flirts With All-Time Lows On Global Market Turmoil
The broader indices underperformed their larger peers with S&P BSE MidCap and SmallCap falling over 4%. Barring S&P BSE Power and Utilities, all the other 17 sectoral indices compiled by BSE Ltd. declined with S&P BSE Realty falling over 3.5%.
The market breadth was skewed in the favour of bears. About 839 stocks advanced, 2,515 declined and 106 remained unchanged.
SJVN secured its first ever wind-solar hybrid project through a tender floated by SECI (Solar Energy Corporation of India).
The 30 Mega Watt Wind-Solar Hybrid project was bagged as Rs 2.54 per unit on Build, Own and Operate basis in the tariff-based competitive bidding process.
The tentative cost of the construction and development of the project is Rs 195 crore. The project is estimated to generate 79 Million Units in first year and 1,860 Million Units over 25 years.
SECI and SJVN will sign a Power Purchase Agreement and the project will be commissioned with 18 months from the date of signing the PPA.
The project is expected to reduce 90,993 tonnes of carbon emissions.
Shares of SJVN added over 1% in a weak market
Source: Exchange filing, Bloomberg
India Orders Coal Plants To Run Flat Out To Attack Power Crisis
Such companies should conduct AGMs through video conferencing on or before 31st December, 2022.
Direction should not be construed as time extension for holding of AGMs by companies.
MCA issues clarification on conducting EGMs as per extensions granted due to Covid-19.
Companies have been allowed to conduct their EGMs through video conference up to December 31, 2022.
Source: MCA
The broader indices underperformed their larger peers with both the S&P BSE SmallCap and MidCap falling over 2%. All the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Metal losing 4%.
The market breadth was skewed in the favour of bears. About 575 stocks advanced, 2,686 declined and 104 remained unchanged.
Marico Q4 Review: Most Analysts Say ‘Buy’ After Steady Earnings; Shares Fall
NSE Nifty IT Index shed over 3.6%, the steepest intraday decline in over two weeks since April 19. All the constituents fall, with Coforge losing 13%
LIC IPO Subscription Status: Day 3 Live Updates
Solar Industries secured orders worth Rs 1,563 crore from Singareni Collieries Company.
The order pertains to the supply of SME explosives, LDC explosives and accessories for blasting of OB, to be delivered over a period of two years.
Source: Exchange filing
Yield on the 10-year bond added 5bps to 7.45% during the session.
Source: Bloomberg
Dabur Q4 Review: Analysts Expect Rural Demand, New Launches To Aid Growth
Why Jefferies’ Chris Wood Isn’t Adding To ‘Overweight’ In India
The S&P BSE Sensex lost over 850 points (over 1.5%) to 54,847.03. The NSE Nifty 50 declined by similar magnitude to 16,411.15. All the 50 stocks constituting the index logged losses.
The broader indices underperformed their larger peers with both S&P BSE MidCap and SmallCap falling over 2%. All the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Metal losing over 3.3%.
The market breadth was skewed in the favour of bears. About 389 stocks advanced, 2,235 declined and 70 remained unchanged.
Gautam Adani is in discussions with investment groups and funds from Middle East, for financing support of up to $2 billion fror the acquisition of ACC and Ambuja Cements, The Economic Times reported citing sources that it did not identify.
Source: The Economic Times
Reliance Industries
Tata Power
Federal Bank
Canara Bank
CSB Bank
Grindwell Norton
Shipping Corporation of India
Paushak
HIL
Paisalo Digital
Great Eastern Shipping
Sundaram Clayton
Vesuvius India
Apollo Pipes
Apollo Tricoat Tubes
Greenpanel Industries
Bajaj Consumer
Wipro/HFCL: The company has entered into a partnership with HFCL to engineer a variety of 5G transport products that include Cell Site Router, DU (Distributed Unit) Aggregation Router, and CU (Centralized Unit) Aggregation Router.
Kotak Mahindra Bank: The bank has hiked deposit rates for one year and above deposits by 30-35 basis points effective Friday. It has also appointed Shanti Ekambaram as whole-time director.
Future Enterprises: The company has completed the sale of 25% stake in its General Insurance Joint Venture, Future Generali India Insurance to JV partner Generali Participations Netherlands for Rs 1,266.07 crore. Post completion of the transaction, the company continues to hold (directly and indirectly) 24.91% shares in the JV.
Phoenix Mills: The company has increased its stake in Classic Mall Development to 100% from 50% earlier. It has paid Rs 936 crore to acquire the 50% stake held by Crest Ventures and Escort Developers.
Marico Q4 FY22 (Consolidated, YoY)
Revenue up 7% at Rs 2,161 crore Vs Rs 2012 crore (Bloomberg Estimate: Rs 2,175 crore)
EBITDA up 8% to Rs 346 crore Vs Rs 319 crore (Bloomberg Estimate: Rs 359.24 crore)
EBITDA Margins at 16% Vs 15.9% (Bloomberg Estimate: 16.5%)
Net profit up 15% to Rs 251 crore from Rs 219 crore (Bloomberg Estimate: Rs 258.17 crore)
Adani Transmission Q4 FY22 (Consolidated, QoQ)
Revenue fell 2.19% at Rs 2,556.09 crore Vs Rs 2,613.35 crore (Bloomberg Estimate: Rs 2,951.1 crore)
EBITDA fell 6.04% at Rs 955.31 crore Vs Rs 900.88 crore (Bloomberg Estimate: Rs 1,051.9 crore)
EBITDA margin 32% Vs 30.9% (Bloomberg Estimate: 35.6%)
Net profit fell 14.02% at Rs 229.59 crore Vs Rs 267.03 crore (Bloomberg Estimate: Rs 238.4 crore)
TVS Motor Q4 FY22 (Standalone, YoY)
Revenue up 3.92% at Rs 5,530.31 crore Vs Rs 5,321.93 crore (Bloomberg Estimate: 5,645.7 crore)
EBITDA up 3.86% at Rs 556.82 crore Vs Rs 536.11 crore (Bloomberg Estimate: Rs 558.4 crore)
EBITDA margin remains flat at 10.07% (Bloomberg Estimate: 9.8%)
Net profit fell 5.1% at Rs 274.5 crore Vs Rs 289.24 crore (Bloomberg Estimate: Rs 262 crore)
Voltas Q4 FY22 (Consolidated, YoY)
Revenue up 0.56% at Rs 2,666.58 crore Vs Rs 2,651.66 crore (Bloomberg Estimate: Rs 2,703.1 crore)
EBITDA fell 21.08% at Rs 261.01 crore Vs Rs 330.73 crore (Bloomberg Estimate: Rs 297 crore)
EBITDA margin 9.79% Vs 12.47% (Bloomberg Estimate: 10.9%)
Net profit fell 23.15% at Rs 182.7 crore Vs Rs 237.73 crore (Bloomberg Estimate: 230.3 crore)
Recommended dividend of Rs 5.5 per share of face value of Rs 1 each
CEAT Q4 FY22 (Consolidated, YoY)
Revenue up 13.2% at Rs 2,591.99 crore Vs Rs 2,289.72 crore (Bloomberg Estimate: Rs 2,438 crore)
EBITDA 28.12% at Rs 187.50 crore Vs Rs 260.84 crore (Bloomberg Estimate: Rs 139.5 crore)
EBITDA margin 7.23% Vs 11.39% (Bloomberg Estimate: 5.72%)
Net profit fell 83.48% at Rs 25.25 crore Vs Rs 152.8 crore (Bloomberg Estimate: Loss of Rs 9.46 crore)
Recommended final dividend of Rs 3 per share of face value of Rs 10 each
DCM Shriram Q4 FY22 (Consolidated, YoY)
Revenue up 31.3% at Rs 2,855.62 crore Vs Rs 2,174.92 crore
EBITDA up 78.78% at Rs 616.92 crore Vs Rs 345.07 crore
EBITDA margin 21.6% Vs 15.87%
Net profit up 73.5% at Rs 401.19 crore Vs Rs 231.24 crore
Recommended final dividend of Rs 4.9 per share of face value of Rs 2 each
Cholamandalam Q4 FY22 (Standalone, YoY)
Revenue up 4.84% at Rs 2,580.34 crore Vs Rs 2,461.15 crore
EBIT up 40.44% at Rs 1,949.16 crore Vs Rs 1387.92 crore
EBIT margin 75.54% Vs 56.39%
Net profit up 183.53% at Rs 689.58 crore Vs Rs 243.21 crore
Recommended final dividend of Rs 0.7 per share of face value of Rs 2 each
Blue Star Q4 FY22 (Consolidated, YoY)
Revenue up 39.5% at Rs 2,247.58 crore Vs Rs 1,611.56 crore
EBITDA up 33.84% at Rs 142.95 crore Vs Rs 106.81 crore
EBITDA margin 6.36% Vs 6.63%
Net profit up 12.16% at Rs 76.16 crore Vs Rs 67.9 crore
Recommended dividend of Rs 10 per share of face value of Rs 2 each
Blue Dart Express Q4 FY22 (Consolidated, QoQ)
Revenue fell 7.08% at Rs 1,165.91 crore Vs Rs 1,254.75 crore
EBIT up 16.82% at Rs 199.28 crore Vs Rs 170.58 crore
EBIT margin 17.09% Vs 13.59%
Net profit up 10.98% at Rs 136.97 crore Vs Rs 123.42 crore
Sona BLW Precision Forgings Q4 FY22 (Consolidated, YoY)
Revenue up 1.98% at Rs 550.01 crore Vs Rs 539.34 crore
EBITDA fell 3.36% at Rs 135.38 crore Vs Rs 140.08 crore
EBITDA margin 24.61% Vs 25.97%
Net profit up 75.5% at Rs 104.65 crore Vs Rs 59.63 crore
Recommended final dividend of Rs 0.77 per share of face value of Rs 10 each
Procter & Gamble Health Q4 FY22 (Consolidated, YoY)
Revenue up 22.21% at Rs 267.82 crore Vs Rs 219.15 crore
EBITDA 123.8% at Rs 68.77 crore Vs Rs 30.73 crore
EBITDA margin 25.68% Vs 14.02%
Net profit up 224.41% at Rs 51.16 crore Vs Rs 15.77 crore
Recommended interim dividend of Rs 41 per share of face value of Rs 10 each.
Indus Towers Q4 FY22 (Consolidated, QoQ)
Revenue up 2.03% at Rs 711.63 crore Vs Rs 692.74 crore
EBITDA up 9.87% at Rs 406.98 crore Vs Rs 370.41 crore
EBITDA margin 57.19% Vs 53.47%
Net profit up 16.41% at Rs 182.85 crore Vs Rs 157.08 crore
Happiest Minds Q4 FY22 (Consolidated, QoQ)
Revenue up 5.86% at Rs 300.57 crore Vs Rs 283.94 crore
EBIT up 4.6% at Rs 62.83 crore Vs Rs 60.07 crore
EBIT margin 20.9% Vs 21.16%
Net profit up 6.52% at Rs 52.11 crore Vs Rs 48.92 crore
Recommended final dividend of Rs 2 of face value of Rs 2 each
Stocks declined along with bonds on Friday amid inflation, rising borrowing costs and China’s Covid-19 lockdowns.
Equities in Hong Kong and China fell while Japan was mixed. U.S. futures declined as risk aversion swept away a relief rally after Federal Reserve's rate decision.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, fell over 1.5% to 16,432 points as of 6:45 a.m.
Nymex crude remains near $108 a barrel amid supply concerns following European Union proposal to sanction Russian oil. Bitcoin hovered around $39,600.
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