Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.41% at 24,440.5 as of 6:18 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 0.24% and 1.28% respectively.
Indian Market Recap
Indian equity benchmarks ended little changed after a topsy-turvy trade on Monday amid weak global cues over renewed tensions in the middle east. The NSE Nifty 50 and the BSE Sensex ended marginally higher at 24,364 and 78,520.30 respectively.
Tensions between the US and Iran increased after attacks on commercial ships near the Strait of Hormuz. The US said its Navy fired on an Iranian container ship in the Gulf of Oman and later took custody of the vessel after it attempted to cross a naval blockade. The action followed an earlier tanker attack in the Strait of Hormuz, where ships were hit during the weekend.
US Market Recap
US stocks dropped on Monday as President Donald Trump raised doubts over the extension to the ceasefire with Iran. The S&P 500 Index closed 0.2% down in New York, ending five-straight sessions of gains and stepping back from an all-time closing, Bloomberg reported. The tech-heavy Nasdaq 100 Index slipped 0.3%.
Asian Market Update
Asian markets opened higher on Tuesday as investors look for a possibility for a resolution to the Middle East conflict, even though tensions between Iran and the U.S. remains, CNBC reported. South Korea's Kospi surged 1.58% and the small-cap Kosdaq advanced 0.90%. Japan's Nikkei 225 rose 0.52%, while the Topix was marginally higher.
Commodity Check
Oil tumbled amid hopes that Iran will attend peace talks with the US in Islamabad before the two week ceasefire between the two sides ends. Brent slipped around 1.1% to $94.44 a barrel after rising 5.6% on Monday. Meanwhile, gold remained steady, as the bullion traded near $4,830 an ounce in early trading, after having lost 0.2% in the previous session, Bloomberg reported.
Earnings In Focus
HCL Technologies, Persistent Systems, 360 ONE WAM, Central Mine Planning & Design Institute, Cyient DLM, HCL Technologies, Nestle India, Powerica, Rajratan Global Wire, Sunteck Realty, Transformers and Rectifiers (India), Tata Elxsi, Tata Investment Corporation.
Earnings Post Market Hours
E2E Networks (Q4, Consolidated,QoQ)
- Revenue up 36.6% at Rs 95.6 crore versus Rs 70 crore
- Ebitda up 46.6% at Rs 58.1 crore versus Rs 39.6 crore
- Ebitda margin up 410 bps at 60.7% versus 56.6%
- Net profit at Rs 6.4 crore versus a loss of Rs 5.7 crore
SML Mahindra (Q4, Standalone, YoY)
- Revenue up 16.4% at Rs 898 crore versus Rs 771 crore YoY.
- Ebitda down 0.1% at Rs 90.38 crore versus Rs 90.44 crore YoY.
- Ebitda margin down 166 bps at 10.06% versus 11.72% YoY.
- Profit up 2.4% at Rs 54.2 crore versus Rs 53 crore YoY.
PNB Housing (Q4, Cons)
- Total Income up 6.6% at Rs 2,172 crore versus Rs 2,037 crore YoY.
- Net Profit up 19.2% at Rs 656 crore versus Rs 551 crore YoY.
Indosolar (Q4, Cons)
- Revenue down 56.7% at Rs 83 crore versus Rs 192 crore YoY.
- Ebitda up 28.2% at Rs 64.3 crore versus Rs 50.2 crore YoY.
- Ebitda margin up 5130 bps at 77.4% versus 26.1% YoY.
- Net Profit up 4.9% at Rs 42 crore versus Rs 40 crore YoY.
Business Updates
Muthoot Microfin (March)
- AUM: Rs 14,006 crore (+13% YoY) as of March 31.
- Disbursements: Rs 9,418 crore (+6% YoY).
- Collection Efficiency improved to 96.43% from 93.07% YoY.
Bajaj Finserv (March)
- Bajaj General Insurance Gross Direct Premium: Rs 1,384.3 crore (-1.9% YoY).
- Bajaj Life Insurance Total Premium: Rs 2,283.5 crore (+25% YoY).
Oberoi Realty (Q4 & FY26)
- Q4 Units Booked: 229 vs 78 YoY.
- Q4 Carpet Area Booked: 3.6 Lk sqft vs 1.4 Lk sqft YoY.
- Q4 Gross Booking Value: Rs 1,673 crore (+96% YoY).
- FY26 Units Booked: 698 Units (-25% YoY).
- FY26 Gross Booking Value: Rs 5,447 crore (+2% YoY).
Stocks In News
- Associated Alcohol & Breweries: The company has finalized plans to acquire SDF Industries for a total consideration of Rs 30.85 crore.
- IEX: The company clarified that the recent fall in its share price is linked to public draft rules, emphasizing that the CERC draft regarding market coupling norms is still purely consultative.
- Container Corp: The Ministry of Railways has officially appointed Vivek Gupta to serve as the Director of Finance for the company.
- Godawari Power: The company allotted 2 crore convertible warrants to its promoters and members, while concurrently selling an additional 9.24% stake in Ardent Steel for Rs 22.2 crore, reducing its total holding in the entity to 9.22%.
- Thomas Cook: The company, in collaboration with SOTC Travel, has launched a new 'Visa Rejection Cover' to provide security for international travelers.
- HMA Agro: The company's board is scheduled to meet on April 25 to consider the appointment of Gulzar Ahmad as Chairman and Managing Director (CMD).
- Anand Rathi Wealth: The company has fixed May 15 as the record date for determining shareholder eligibility for its upcoming final dividend.
- Vedanta: The company has set May 1 as the record date to finalize its demerger into four separate units (Aluminium, Power, Oil, Iron), with shareholders receiving one share of each new entity (VAML, TSPL, MEL, VISL) for every share they hold.
- Balrampur Chini Mills: The company's board will meet on April 23 to mull fundraising via the issuance of NCDs and other securities on a private placement basis.
- Apeejay Surrendra Park Hotels: The hospitality firm has signed pacts to develop two new hotel properties located in the pilgrimage cities of Ayodhya and Ujjain.
- JSW Steel: The company has executed a Joint Venture (JV) with POSCO to establish a 6 MTPA steel plant in Odisha, with Saffron Resources serving as the 50:50 JV entity.
- CEAT: The company announced plans to invest Rs 3.3 crore via a rights issue into its subsidiary, Tyresnmore Online.
- City Union Bank: The bank has expanded its network by opening 7 new branches across Delhi, Haryana, Tamil Nadu, and Rajasthan, taking its total branch count to 971.
- Kirloskar Ferrous: The company has received trading approval from the NSE and will commence trading effective April 20.
- Oil India: The company's subsidiary, Oil Green Energy, has entered into a Memorandum of Understanding (MoU) with Numaligarh Refinery for the procurement and supply of renewable energy.
- Salzer Electronics: The company's board has approved the re-appointment of R. Doraiswamy as Managing Director for an additional 3-year term.
- Interarch Building: The company has successfully secured an Rs 80 crore order for the supply of its Pre-Engineered Steel Building System.
- Spandana Sphoorty: The company has issued Non-Convertible Debentures (NCDs) worth Rs 500 crore on a private placement basis, which includes a greenshoe option of Rs 200 crore.
- Carysil: The company will invest Rs 50 crore to expand its quartz sink manufacturing capacity to 1.25 million units per annum to meet growing retail demand in the US market.
- TVS Motor: The company has signed a Joint Development Agreement (JDA) with Hyundai Motor to manufacture and commercialize electric micro-mobility 3-wheelers. Separately, it appointed Zamoto Mfg as a distributor in Zambia and launched eight new products there.
- Rolex Rings: The company's board is scheduled to meet on Wednesday to discuss a potential buyback of its equity shares.
- Neogen Chemicals: The promoter group, Cadamba Solutions, has purchased 10 lakh shares representing a 3.65% stake in the company for Rs 161 crore.
- AU Small Finance Bank: The bank's board will convene on April 27 to discuss fundraising options through Qualified Institutions Placement (QIP) and debt instruments.
- SPML Infra: The company's board will meet on April 23 to consider and approve various fund-raising options.
- Aequs: The company reports that Hasbro will cease placing purchase orders with its subsidiary, Aequs Engineered Plastics Pvt.
- Coal India: The Registrar of Companies (RoC) has proposed to strike off and remove the name of the company's subsidiary, CIL Solar PV, from its register.
- Prism Johnson: The company has appointed Sanjaykumar Shivajee Roy as Whole-time Director, Executive Director, and CEO of its RMC division.
- IIFL Capital Services: The NSE has imposed a penalty of Rs 7.7 crore on the company citing unauthorized Client Code Modification practices.
- 360 ONE WAM: The company has received approval from IFSCA to operate as a Retail Fund Management Entity and has separately entered into a Share Purchase Agreement (SPA) to acquire Quark Solar for Rs 9.4 crore.
- Hind Copper: Under its 'Vision 2030' plan, the company has outlined a major capital expenditure of Rs 7,189 crore intended for mine expansion.
- ICICI Prudential AMC: SEBI has settled the pending case regarding the IPRES fund matter following a settlement payment of Rs 14.35 lakh by the company.
- Steel Exchange: The company has raised Rs 75 crore by allotting 31.74 crore equity warrants that are convertible into shares.
- Ravindra Energy: An associate entity of the company has signed a Memorandum of Understanding (MoU) with Drivn to deploy 1,000 electric trucks.
- PDS: The company's arm has filed an FIR regarding alleged employee misconduct connected to irregularities worth Rs 20 crore at Poeticgem.
- Industrial And Prudential Investment Co: The company has received trading approval from the NSE and will list on April 20.
Bulk and Block Deals
HEG : GDN Ventures LLP sold 10 lakh shares at Rs. 631.02 per share.
Trading Tweaks
Price Band
Price Band change from 20% to 10%: Indo Tech Transformers.
Short Term ASM
List of securities shortlisted in Short - Term ASM Framework Stage: Allied Blenders & Distillers, Apollo Micro Systems, Bharat Wire Ropes, Man Industries (India), Elcid Investments
List of securities to be excluded from ASM Framework: Bhagiradha Chemicals & Industries, Easy Trip Planners, eMudhra, EPack Prefab Technologies, JTL Industries, Sri Lotus Developers & Realty, M&B Engineering, NACL Industries
F&O Cues
Nifty Options 21st Apr Expiry: Maximum Call open interest at 25, 000 and Maximum Put open interest at 23,500.
Photo Credit: NDTV Profit
Photo Credit: NDTV Profit
Currency Check
The rupee pared gains to end at a loss of 19 paise at 93.10 (provisional) against the US dollar on Monday, after fresh tension in the Middle East created ramped up demand for the American currency and kept crude prices steady.
ALSO READ: Rupee Slips 19 Paise To 93.10 Against US Dollar As Market Volatility Grows
Securities in ban period: SAIL
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