Stock Market Today: Nifty, Sensex Cap Weekly Gains After Friday's Drop

• The local currency strengthened by 3 paise to close at 83.43 against the U.S dollar.

• It closed at 83.46 on Thursday.

Source: Bloomberg

India's benchmark indices reversed early gains and ended lower on Friday as heavyweights Reliance Industries Ltd., Larsen & Toubro Ltd., and HDFC Bank Ltd. dragged.

However, on weekly basis, the NSE Nifty 50, and S&P BSE Sensex gained.

The NSE Nifty 50 ended 172.35 points or 0.76% lower at 22,475.85, and the S&P BSE Sensex ended 732.96 points or 0.98% down at 73,878.15.

Intraday, the NSE Nifty 50 declined 1.33% to 22,348.05, and the S&P BSE Sensex fell 1.53% to 73,467.73.

"Profit booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside. Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII's exposure to the domestic market," Vinod Nair, head, research, Geojit Financial Services.

The benchmarks extended gains to second week, with the NSE Nifty 50 ending 0.25% higher, and the S&P BSE Sensex settled 0.20% in the week ended on May 3.

Reliance Industries Ltd., HDFC Bank Ltd., Larsen & Toubro Ltd., Bharti Airtel Ltd., and Maruti Suzuki India Ltd. weighed on the benchmark index.

Coal India Ltd., Grasim Industries Ltd., Bajaj Finance Ltd., Oil and Natural Gas Corporation of India Ltd., and ICICI Bank Ltd. supported the benchmark.

On NSE, eight sectors advanced, and four declined out of 12. The NSE Nifty Media was the top loser, and the NSE Nifty Finance was the top gainer.

Broader markets outperformed. The S&P BSE Midcap ended 0.52% lower, and the S&P BSE Smallcap settled 0.21% lower.

On BSE, 19 sectors out of 20 declined, only S&P BSE Healthcare rose. The S&P BSE Telecommunication declined the most.

Market breadth skewed in the favour of sellers. Around 2,296 stocks fell, 1,540 stocks rose, and 122 stocks remained unchanged on BSE.

• Revenue fell 7.47% to Rs 1,326.06 crore from Rs 1,432.98 crore

• Ebitda rose 26.71% to Rs 195.68 crore from Rs 154.43 crore

• Margin rose 397 bps to 14.75% from 10.77%

• Net profit rose 38.99% to Rs 109.36 crore from Rs 78.68 crore

• Revenue rose 20% to Rs 1,096 crore from Rs 915 crore

• EBITDA rose 23% to Rs 581 crore from Rs 472 crore

• EBITDA margin at 53% vs 51.5%

• Net profit rose 9% to Rs 329 crore from Rs 302 crore

• Revenue up 9% to Rs 2,527 crore from Rs 2,311 crore.

• Ebitda up 5% at Rs 1,834 crore from Rs 1,742 crore.

• Margin fell 280 bps at 72.6% from 75.4%.

• Net profit up 21% at Rs 310 crore from Rs 256 crore.

• RE target for 2030 revised upwards to 50 GW from 45 GW

• Raymond Ltd. approved re-appointment of MD Gautam Hari Singhania for 5 years with effect from July 1.

Source: Exchange filing

• Revenue grew 15% to Rs 182 crore from Rs 158 crore.

• Ebitda rose 8% to Rs 54 crore from Rs 50 crore.

• Margin fell 187 bps to 29.65% from 31.52%.

• Net profit fell 13% to Rs 13 crore from Rs 15 crore.

• Air India added Zurich to growing European network.

• The airline will start non-stop Delhi-Zurich flight on June 16.

Source: Bloomberg

• Revenue up 5% to Rs 1,670 crore from Rs 1,597 crore

• Ebitda up 7% at Rs 183 crore from Rs 171 crore

• Margin up 24 bps at 10.95% from 10.7%

• Net profit up 3% at Rs 13.3 crore from Rs 12.9 crore

Supreme Industries Ltd. rose as much as 6.90% to Rs 4,802.00, the highest level since Jul 19, 1995. It was trading 6.35% up at 5,117.60 as of 1:38 p.m., compared to 1.17% decline in the NSE Nifty 50 index.

India's benchmark stock indices fell during midday on Friday after the Nifty set a fresh lifetime high and the Sensex was 30 points from its record high. This was due to the decline of index heavyweight Reliance Industries Ltd.

At 13:16 p.m., the NSE Nifty 50 fell 234.9 points, or 1.04%, to 22,413.30, while the S&P BSE Sensex was trading 927.63 points, or 1.24%, lower at 73,683.48.

Nifty has been on a structural bull run, according to Amit Goel, founder of Amit Ventures, who recommends using every dip as an opportunity.

However, he does not expect any tearaway moves in the market. He added that 22,500 will act as resistance and 22,300 as support.

Shares of Reliance Industries Ltd. dragged the Nifty the most followed by Larsen & Toubro Ltd., HDFC Bank Ltd., Bharti Airtel Ltd., and Tata Consultancy Services Ltd.

While those of Bajaj Finance Ltd., ICICI Bank Ltd., Coal India Ltd., Oil & Natural Gas Corp., and Grasim Industries Ltd. cushioned the fall.

All sectoral indices slipped into loss with Nifty PSU Bank, Nifty IT, and Nifty Realty down over 1%.

Broader markets also fell as S&P BSE Midcap was down 0.41% and S&P BSE Smallcap was 0.77% lower.

All 20 sectoral indices on the BSE fell, except S&P BSE Healthcare, which traded flat. S&P BSE Information Technology was the top loser.

The market breadth was skewed in the favour of sellers. Around 2,324 stocks fell, 1,308 rose and 159 were unchanged on the BSE.

• Revenue up 21% at Rs 2,609 crore vs Rs 2150 crore

• Ebitda up 29% at Rs 436 crore vs Rs 337 crore

• Margin up 104 bps at 16.71% vs 15.66%

• Net profit up 17% at Rs 230 crore vs Rs 196 crore

Shares of REC Ltd. rose as much as 2.4% to Rs 553.35, the highest level since its listing on March 12, 2008. It was trading 0.78% higher at Rs 558.20 as of 1:18 p.m., compared to 1.06% decline in the NSE Nifty 50 index.

The scrip gained 295.95% in 12 months, and on year-to-date basis, it has risen 35.4%. Total traded volume so far in the day stood at 2.13 times its 30-day average. The relative strength index was at 79.26, which implied the stock is overbought.

• Revenue down 13.38% to Rs 1,426.09 crore from Rs 1,646.27 crore

• Ebitda down 64.52% at Rs 1,22.75 crore from Rs 346.01 crore

• Margin down 1,242 bps at 8.6% from 21.01%

• Net profit up 5.31% at Rs 478.01 crore from Rs 453.87 crore

• Revenue up 9% at Rs 6,349 crore vs Rs 5,842 crore

• Ebitda up 7% at Rs 912 crore vs Rs 854 crore

• Margin down 24 bps at 14.36% vs 14.61%

• Net profit up 16% at Rs 396 crore vs Rs 341 crore

The scrip fell as much as 4.55% to Rs 1,27,767 apiece, the lowest level since April 19. It pared losses to trade 4% lower at Rs 1,28,499.80 apiece, as of 1:09 p.m. This compares to a 0.04% advance in the NSE Nifty 50 Index.

It has fallen 0.83% on a year-to-date basis and 32.18% in the last twelve months. Total traded volume so far in the day stood at 3.12times its 30-day average. The relative strength index was at 38.26.

Shares of Reliance Industries Ltd. declined to Rs 2,867.05, the lowest level since 20 March. It was trading 2.16% lower at Rs 2,870.95 as of 11:56 a.m., compared to 0.77% decline in the NSE Nifty 50 index.

• Shriram Properties has acquired 4 acre land parcel in Bengaluru with aggregate revenue potential of Rs 250 crore in 3 years.

Source: Exchange filing

The NSE Nifty IT index declined 1.29% to 32,807.15, the lowest level since Dec 13, 2023.

• REC Ltd. plans to resolve all resolutions in FY25.

• The company expects RS 1,500-2,000 crore of net write backs in FY25.

• Targets to double AUM by 2023.

• Current renewables portfolio at Rs 35,000 crore.

• Targets renewables portfolio to reach Rs 3 lakh crore by 2030.

• Thermal power is expected to give additional lever to increase loan book

• The company expects AUM to grow 17-20% over next 3-4 years.

• REC Ltd. expects net profit to grow more than 23-24% in next 3-4 years.

Source: REC Ltd. to NDTV Profit

• Bajaj Auto has sold 1.8 lakh Pulsars till date across 59 countries.

• ⁠The Pulsar brand has earned Rs 10,000 crore in revenue since launch in 2001.

Source: Media presentation

Shares of MOIL Ltd. hit their lifetime high today after the company recorded a 22% year-on-year growth in its April production to 1.60 lakh tonnes.

The scrip rose in the second consecutive session today to hit its lifetime high of Rs 463.5. It pared gains to trade 1.34% higher at Rs 447.35 as of 11:11 a.m. This compares to a 0.20% decline in the Nifty 50.

It has risen 44.56% on a year-to-date basis and 187.91% in the last twelve months. Total traded volume so far in the day stood at 0.85 times its 30-day average. The relative strength index was at 76.59, indicating that the stock may be overbought.

Out of the four analysts tracking the company, two maintain a 'buy' rating, one recommend a 'hold,' and one suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 13.9%.

Max Estates Ltd. rose its highest level since its listing on the bourses as the company secured a housing residential development project in Gurugram.

Shares of Max Estates Ltd. rose as much as 7.64% Rs 374.90, the highest level since its listing on Oct 30, 2023. It was trading 5.63% higher at Rs 367.90 as of 11:06 a.m., compared to 0.22% decline in the NSE Nifty 50 index.

The scrip gained 29.98% in six months, and on year-to-date basis, it has risen 18.72%. Total traded volume so far in the day stood at 25 times its 30-day average. The relative strength index was at 82.73, which implied the stock is overbought.

One analyst tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 6.8%.

Shares of Ajanta Pharma Ltd. surged over 13% to a record high on Friday after its fourth-quarter profit surged, beating analysts' estimates, aided by robust sales across domestic and international markets.

Shares of the company rose as much as 13.7% during the day to a life high of Rs 2,540 apiece on the NSE. It was trading 8.59% higher at Rs 2,426 apiece, compared to a 0.56% advance in the benchmark Nifty 50 at 9:57 a.m.

The stock has risen 88.9% in the last 12 months and is up 11.25% year-to-date. The total traded volume so far today was 97 times its 30-day average. The relative strength index was at 78.

Twelve out of the 15 analysts tracking the company have a 'buy' rating on the stock, one recommends a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 3.5%.

Shares of Ugro Capital jumped to hit an eight-month high today after the company reported an over 100% year-on-year increase in the its net profit to Rs 32.68 crore.

Shares of Ceat Ltd. slumped nearly 10% on Friday after the company reported a decline in the net profit.

The scrip fell 9.88% to Rs 2,363.30 apiece, the lowest level since XXX. It was trading 3.86% lower at Rs 2,521.05 apiece, as of 10:03 a.m. This compares to a 0.50% advance in the NSE Nifty 50 Index.

It has risen 53.82% in 12 months, and on year-to-date basis, it rose 3.74%. Total traded volume so far in the day stood at 18 times its 30-day average. The relative strength index was at 43.1.

Out of 23 analysts tracking the company, 15 maintain a 'buy' rating, three recommend a 'hold,' and five suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside 11.7%.

Coforge Ltd. reported strong growth in the fourth quarter of fiscal 2024, due to healthy order book. However challenging macro has led to slowdown in executable order book, leading to 17% year-on-year growth in FY24, compared to 20% YoY growth last year, and this indicates slowdown in revenue growth, according to brokerages.

Shares of Coforge Ltd. declined as much as 9.99% to Rs 4,487.15, the lowest level since Jun 26, 2023. It was trading 6.70% lower at Rs 4,651.50, as of 10:00 a.m., compared to 0.53% advance in the NSE Nifty 50 index.

The scrip declined 26.17% on year-to-date basis. Total traded volume so far in the day stood at 6.56 times its 30-day average. The relative strength index was at 19.49, which implied the stock is oversold.

• Yes Bank Ltd. had its 60.8 lakh shares change hands in bunch trades.

• The lender's 2.1% of equity changed hands in nine bunch trades.

• Buyers and sellers are not known immediately.

Source: Bloomberg

Bajaj Finance Ltd. jumped over 7% on Thursday as the Reserve Bank of India lifted restrictions on its eCOM, and online digital insta EMI card products with immediate effects.

The scrip rose as much as 7.52% to Rs 7,400 apiece, the highest level since April 24. It pared gains to trade 7.04% higher at Rs 7,367.30 apiece, as of 09:45 a.m. This compares to a 0.54% advance in the NSE Nifty 50 Index.

It has risen 0.56% on a year-to-date basis and 5.46% in the last twelve months. Total traded volume so far in the day stood at 1.40 times its 30-day average. The relative strength index was at 60.

Out of the 37 analysts tracking the company, 29 maintain a 'buy' rating, five recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 14.8%.

Extending gains, India's benchmarks opened higher on Friday, just shy of its record high levels, tracking a rise in Bajaj Finance Ltd., ICICI Bank Ltd.

As of 09:17 a.m., the NSE Nifty 50 was trading 128.75 points or 0.57% higher at 22,776.95, and the S&P BSE Sensex was 439.47 points or 0.59% higher at 75,050.58.

"Nifty may cross record high today due to strong global market," said Vikas Jain, senior research analyst at Reliance Securities. " US Federal Reserve downplayed the prospect of further interest-rate hikes lifted US market up to 1.5%. US Payroll data will be released today, an important parameter for US economy growth outlook."

Reliance Securities expects a rally on the domestic market to continue backed by strong local and global cues. Yesterday, the equity benchmark Index ended with marginally gain but action shifted to mid-cap and small cap stocks. Falling dollar Index to one-month low will be positive for metal stocks. The brokerage expected rally to continue on Auto, banking, midcap and small cap stocks, Jain added.

Bajaj Finance Ltd., ICICI Bank Ltd., Bajaj Finserv Ltd., HDFC Bank Ltd., and Reliance Industries Ltd. added in the benchmark.

Powergrid Corp of India Ltd., Bharti Airtel Ltd., Coal India Ltd., Larsen & Toubro Ltd., and Asian Paints Ltd. weighed on the benchmark.

On NSE, 11 sectors advanced, and one declined out of 12. the NSE Nifty Finance index was the top gainer, and the NSE Nifty IT was the top dragger.

Broader markets rose on BSE. The S&P BSE Midcap index rose 0.57% , and the S&P BSE Smallcap increased 0.35%.

On BSE, 19 sectors advanced, and one declined out of 20. The S&P BSE Financial Services, Utilities, and Power were the top gainer. The S&P BSE TECK index was the top loser.

Market breadth was skewed in favour of the buyers. Around 2,063 stocks advanced, 723 stocks declined, and 113 stocks remained unchanged.

The NSE Nifty 50 was trading 118.15 points or 0.52% higher at 22,766.35, and the S&P BSE Sensex was 405.00 points or 0.54% higher at 75,016.11.

• The yield on the 10-year bond opened flat at 7.16%.

Source: Bloomberg

• The local currency opened 7 paise stronger against the U.S. Dollar at 83.40.

• It closed at 83.47 on Thursday.

Source: Bloomberg

• Citi Research maintained a sell on Dabur India Ltd. rolls forward target price to Rs 515 from Rs 500

• The target price implied 14% downside.

• India business growth was driven by oral care (+22% YoY)

• Margins were below pre-Covid 4Q levels due to negative operating leverage

• Believes stock performance and valuation multiples will depend on

• a) demand acceleration

• b) growth trends across categories

• c) sustained margin

• Notes need for reinvestment in A&P to 8% of sales vs. 6.8% in FY24

• Citi Research maintained a 'Sell' and raised a target price to Rs. 4,550 from 5,155, which implied a 8.6% downside.

• Coforge's revenue and margins below Citi Research's estimates.

• Management suspended FY25 revenue growth guidance due to uncertain environment.

• It indicated to deliver robust growth in FY25.

• Coforge is to acquire 54% stake in Cigniti at Rs. 1,415 per share.

• The company is likely to add 20% to company's revenue.

• The acquisition will likely to be EPS accretive despite the QIP.

• FY25 growth is to be monitored given that executable orderbook growth at 17.3%.

• QIP overhang will likely remain in the near team.

• The acquisition integration to be monitored in a tough demand environment.

• U.S. Dollar Index at 105.18

• U.S. 10-year bond yield at 4.58%

• Brent crude up 0.30% at $83.92 per barrel

• Nymex crude up 0.33% at $79.21 per barrel 

• Bitcoin was up 1.14% at $59,411.09

• Citi Research maintained a 'buy' on Adani Ports & Special Economic Zones Ltd.

• The brokerage increased the price target to Rs 1,782, implying an upside of 33%.

• Strong FY25 capex guidance implies medium-term growth acceleration.

• Recent results show strong traction in the logistics business.

• Citi Research believed valuations remain attractive at 16x EV/Ebitda and 26x P/E on FY26E.

• The stock remained Citi Research's top pick despite stock outperformance.

• Citi Research downgraded Ambuja Cements to 'neutral', with a target price at Rs 675 apiece, implying an upside of 8%.

• Q4 standalone Ebitda below estimates on lower realisations, higher costs.

• Management expects utilisation to rise, on stable or higher pricing.

• Stock drivers largely priced; stock's 60% up move in the past year.

• Raise FY25/26 consolidated Ebitda estimates to Rs 1,310/1,380 crore.

• Hike FY25/26 cons. Ebitda estimates by 5%/9% on lower costs, management commentary.

• Citi maintained a 'sell' on Nuvoco Vistas Corp. and lowered target to Rs 325 apiece, implying a downside of 2%.

• Ebitda outperformance was largely on higher RMC Ebitda.

• Focus on value over volume has led to lower sales growth vs peers in the East.

• Q4 Share of trade sales at 74% vs 73% in 3Q

• The brokerage lowered FY25-26 Ebitda estimates by 1-4%

• Citi Research expects stock to trade lower than 10-15x EV/EBITDA given lower scale.

• The brokerage kept the target price unchanged at Rs 550 apiece.

• e-Auction premiums for Q4 is averaged at 65.7%, beating expectations of 45-50%.

• Full-year employee cost came in at Rs 48,800 crore, higher than management guidance.

• Emkay Global expects concerns around declining premiums alleviating to some extent.

• Citi Research had a 'negative catalyst watch open' on Coal India.

• The brokerage raised the target price Rs 460 apiece from Rs 430 apiece, implying an upside of 1.8%.

• Ebitda seems to be below estimates on lower e-auction volumes and higher employee expenses.

• The company changed the accounting policy on stripping activity.

• e-auction prices may be range-bound despite rising temperatures on adequate coal inventory.

• FY24 dividend is Rs25.5 per share is in line with, 43% payout.

• Citi Research assumed wage inflation through FY23-26 at ~5% and FSA price CAGR at 2%.

The Indian currency closed 3 paise weaker against the U.S. Dollar at 83.47.

• Nifty May futures up by 0.27% to 22,773.95 at a premium of 125.75 points.

• Nifty May futures open interest up by 2.52%.

• Nifty Bank May futures down by 0.12% to 49,388.35 at a premium of 157.03 points.

• Nifty Bank May futures open interest down by 4.06%.

• Nifty Options May 9 Expiry: Maximum Call open interest at 23,500 and Maximum Put open interest at 22,000.

• Bank Nifty Options May 8 Expiry: Maximum Call Open Interest at 49,500 and Maximum Put open interest at 49,000.

• Securities in ban period: Aditya Birla Fashion, Biocon, Vodafone Idea.

• Moved out of short-term ASM framework: Bajel Projects, IRM Energy, VA Tech Wabag.

• Price Band change from 20% to 5%: Semac Consultants.

• Ex/record dividend: Sanofi India.

• Cyient: HDFC Mutual Fund bought 11.33 lakh shares (1.02%) at Rs 1,800 apiece.

• Car Trade Tech: CMDB LI sold 3.75 lakh shares (0.8%) at Rs 710.08 apiece.

• Inox Green Energy Services: Sixteenth Street Asian Gems Fund bought 40 lakh shares (1.36%) at Rs 144.5 apiece.

• Zaggle Prepaid Ocean Services: Ventureast Proactive Fund sold 22.27 lakh shares (1.82%) at Rs 302 apiece while ICICI Prudential Mutual fund bought 11.58 lakh shares (0.95%) at Rs 302 apiece.

• Bajaj Finance: The Reserve Bank of India lifted restrictions on the company’s eCOM and online digital Insta EMI Card products with immediate effect.

• Adani Energy: The company is in a pact with Windson Project to acquire Pointleap Projects for Rs 13.15 crore.

• Max Estates: The company's arm signed an agreement for a residential development project in Gurugram with a GDV potential of over Rs 9,000 crore.

• UGRO Capital: The company plans to raise Rs 1,323 crore via CCDs and warrants and acquire 'MyShubhLife' for an aggregate consideration of Rs 45 crore.

• Mazagon Dock Shipbuilders: The company received an international shipbuilding order worth $42 million to construct three hybrid-powered vessels.

• Hindustan Unilever: HUL appointed Vipul Mathur as Executive Director, Personal Care, effective June 1.

• Wipro: The company will implement Wipro’s Medicare Prescription Payment Plan platform for the upcoming open enrollment period.

• Indian Energy Exchange: The company achieved 9,044 MU overall volume in April, marking a 14.1% YoY increase, and REC volume at 618 MU, up 211% YoY.

• Jubilant Pharmova: The company appointed Harsher Singh as CEO of the Radio Pharma business.

• Gujarat Industries Power: The company entered into a loan agreement worth 2,832 crore with the national bank for financing infrastructure and development.

• Moil: The company reported April production up 22% YoY and sales up 17% YoY.

• KEI Industries: The company partnered with BRUGG to produce EHV cables up to 400 kV.

• Zydus Lifesciences: The company to sell shares worth Rs 282 crore of JV Bayer Zydus Pharma. Bayer Zydus Pharma to cease to be a JV of the company post the stake sale.

• Birla Corp.: The company approved the restructuring of the scope of the second phase expansion of the existing capacity of the grinding cement plant in Uttar Pradesh. The expansion will feature an investment of Rs 425 crore.

• Suzlon Energy: The company approved the merger of Suzlon Global Services with the company.

• TVS Holdings: The company is to acquire the remaining 10.74% stake in Emerald Haven Realty from Sandwood Investments for Rs 41.16 crore.

• Aptech: The board approved the amalgamation of Arm MEL Training and Assessments, Aptech Ventures, and Aptech Investment Enhancers to merge with the company.

• Goodyear India: CFO Manish Mundra resigned effective June 30.

Coal India - (Consolidated, YoY)

• Revenue down 1.95% at Rs 37,410 crore vs Rs 38,152 crore (Bloomberg estimate Rs 36,909 crore.

• Ebitda up 21.47% at Rs 11,338 crore vs Rs 9,333 crore (Bloomberg estimate of Rs 10,132 crore).

• Margin up 584 bps at 30.3% vs 24.46% (Bloomberg estimate of 27.5%).

• Net profit up 25.78% at Rs 8,640 crore vs Rs 6,869 crore (Bloomberg estimate Rs7,617 crore).

• Board recommends final dividend of Rs 5 per share.

Coforge - (Consolidated, QOQ)

• Revenue up 1.51% at Rs 2,358 crore vs Rs 2,323 crore (Bloomberg estimate 2,385 crore).

• EBIT down 4.1% at Rs 301 crore vs Rs 314 crore (Bloomberg estimate Rs 372 crore).

• EBIT down 74 bps margin at 12.76% vs 13.51% (Bloomberg estimate 15.61%).

• Net profit down 5.6% at Rs 229 crore vs Rs 243 crore (Bloomberg estimate 280 crore).

• Board approved fourth interim dividend of Rs 19 per share.

• Signs share purchase agreement to acquire up to 54% stake in Cigniti Tech.

KEI Industries - (Consolidated, YoY)

• Revenue up 18.76% at Rs 2319 crore vs Rs 1953 crore (Bloomberg estimate Rs 2,347 crore).

• Ebitda up 20.96% at Rs 245 crore vs Rs 202 crore.

• Margin up 19 bps at 10.54% vs 10.35%.

• Net profit up 22% at Rs 168 crore vs Rs 138.09 crore (Bloomberg estimate Rs 172 crore).

Ajanta Pharma - (Consolidated, YoY)

• Revenue up 19.53% at Rs 1,054.08 crore vs Rs 882 crore (Bloomberg estimate Rs 1,034 crore).

• Ebitda up 86.32% at Rs 278 crore vs Rs 149 crore (Bloomberg estimate Rs 250 crore).

• Margin up 946 bps at 26.4% vs 16.93% (Bloomberg estimate 24.1%).

• Net profit up 65.82% at Rs 203 crore vs Rs 122 crore (Bloomberg estimate Rs 187 crore).

Astec Lifesciences - (Consolidated, YoY)

• Revenue up 21.08% at Rs 154 crore vs Rs 127 crore (Bloomberg estimate Rs 154.2 crore).

• Ebitda up 135.43% at Rs 12.69 crore vs RFs 5.39 crore (Bloomberg estimate Rs 10.4 crore).

• Margin up 400 bps at 8.25% vs 4.24% (Bloomberg estimate 6.7%).

• Net loss at Rs 0.96 crore vs profit of Rs 4.97 crore (Bloomberg estimate Net loss of Rs 1 crore).

Railtel Corp of India - (Consolidated, QoQ)

• Revenue up 24.58% at Rs 833 crore vs Rs 668 crore.

• Ebitda down 10.06% at Rs 116 crore vs Rs 130 crore.

• Margin down 539 bps at 13.99% vs 19.39%.

• Net profit up 24.76% at Rs 77.53 crore vs Rs 62.14 crore.

CIE Automotive India - (Consolidated, YoY)

• Revenue down 0.55% at Rs 2427 crore vs Rs 2,440 crore (Bloomberg estimate Rs 2,441 crore).

• Ebitda down 5.27% at Rs 361 crore vs Rs 381 crore, (Bloomberg estimate Rs 372 crore).

• Margin down 74 bps at 14.85% vs 15.59%, (Bloomberg estimate 15.2%).

• Net profit down 17.42% at Rs 231 crore vs Rs 280 crore, (Bloomberg estimate 208 crore).

Blue Dart Express - (Consolidated, YoY)

• Revenue up 8.73% at Rs 1,323 crore vs Rs 1216 crore, (Bloomberg estimate Rs 1,331 crore).

• Ebitda up 13.41% at Rs 226 crore vs Rs 199 crore (Bloomberg estimate Rs 193 crore).

• Margin up 70 bps at 17.08% vs 16.37%, (Bloomberg estimate 14.5%).

• Net profit up 12.01% at Rs 77.78 crore vs Rs 69.44 crore (Bloomberg estimate Rs 65.8 crore).

• Board recommends dividend of Rs 25 per share.

JBM Auto - (Consolidated, YoY)

• Revenue up 38.17% at Rs 1,332 crore vs Rs 964 crore (Bloomberg estimate Rs 1,346 crore).

• Ebitda down 20.04% at Rs 65.49 crore vs Rs 81.91 crore (Bloomberg estimate Rs 156 crore).

• Margin down 358 bps at 4.91% vs 8.49% (Bloomberg estimate 11.6%).

• Net profit down 62.21% at Rs 10.13 crore vs Rs 26.81 crore (Bloomberg estimate Rs 48.66 crore).

CEAT - (Consolidated, YoY)

• Revenue up 4.07% at Rs 2992 crore vs Rs 2875 crore (Bloomberg estimate Rs 3,055 crore).

• Ebitda at Rs 392 crore vs Rs 368 crore, up 6.44% (Bloomberg estimate Rs 454 crore).

• Margin up 29 bps at 13.08% vs 12.79% (Bloomberg estimate 14.9%).

• Net profit down 22.76% at Rs 102.27 crore vs Rs 132.42 crore (Bloomberg estimate Rs 169 crore).

• Board recommends final dividend of Rs 30 per share.

Titan, Britannia Industries, Adani Green Energy, Godrej Properties, MRF, Mangalore Refinery and Petrochemicals, Carborundum Universal, Inox Wind, Aptus Value Housing Finance, First Source Solutions, Raymond, Go Fashion India, Aarti Drugs, Tatva Chintan Pharma Chemical, and HFCL.

Benchmarks in the Asia-Pacific markets rose, tracking Wall Street, as investors shifted their focus to the US employment report release after the Federal Reserve's policy meeting.

As of 6:38 a.m., the KOSPI index was 13.37 points, or 0.50% higher, at 2,697.02. The S&P ASX 200 was 33.80 points, or 0.45%, higher at 7,620.80. Markets in Japan and Mainland China are closed.

US employment data will be crucial because it'll provide insight into the job market, which has been resilient, defying decade-high interest rates.

The world’s biggest technology companies drove a rebound in US stocks ahead of Apple Inc.’s earnings, with Wall Street also gearing up for Friday’s jobs report, Bloomberg said.

The S&P 500 Index and Nasdaq 100 rose by 0.91% and 1.51%, respectively, as of Thursday. The Dow Jones Industrial Average rose by 0.85%.

Brent crude was trading 0.29% higher at $83.96 a barrel. Gold fell 0.04% to $2,304.73 an ounce.

The GIFT Nifty was trading flat at 22,892.00 as of 6:54 a.m.

India's benchmark equity indices ended Thursday on a positive note, with gains led by HDFC Bank Ltd. and Power Grid Corp. of India, but the upside was limited due to losses in the shares of ICICI Bank Ltd. and Kotak Mahindra Bank Ltd.

The NSE Nifty 50 ended 52.30 points up, or 0.23%, at 22,657.15, and the S&P BSE Sensex gained 128.33 points, or 0.17%, to close at 74,611.11.

Overseas investors turned net sellers on Thursday after two days of buying. Foreign portfolio investors sold stocks worth Rs 964.47 crore, and domestic institutional investors stayed net buyers for the eighth day and mopped up equities worth Rs 1,352.44 crore, according to provisional data from the National Stock Exchange.

The Indian currency closed 3 paise weaker against the US dollar at Rs 83.47.