Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.84% at 24,369 as of 6:20 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 0.63% and 1.01% respectively.
US President Donald Trump announced to continue ceasefire with Iran, just a day before the ttwo-week ceasefire deadline amid uncertainties over peace talks. The US would refrain from fresh attacks, while the blockade of the Strait of Hormuz would remain.
Indian Market Recap
Indian equity benchmarks extended gains for the third consecutive trading session. The benchmark indices posted their best single-day gains in a week amid F&O expiry as on positive global cues as investors tracked hopes of progress in US-Iran talks ahead of the ceasefire deadline. The NSE Nifty 50 rose nearly 0.9% to end above 24,550 and the BSE Sensex rose nearly 1% or over 750 points to settle near 79,300.
US Market Recap
US stocks fell on Tuesday amid as US Iran War drags on, Federal Reserve's Kevin Warsh confirmation hearing. The S&P 500 closed 0.6% down, while Nasdaq 100 fell 0.4%, Bloomberg reported.
Asian Market Update
Asian markets opened lower on Wednesday amid concerns over Middle East. Japan's Nikkei 225 was 0.41% lower, while Topix was 0.67% down, Meanwhile, South Korea's Kospi went 0.16% uo after touching record high on Tuesday, while small cap Kosdaq dropped 0.42%, CNBC reported.
Commodity Check
Oil continued to gain after US President Donald Trump extended a ceasefire with Iran and a blockade of the Strait of Hormuz. Brent was below $98 a barrel after adding almost 9% in the previous two sessions and West Texas Intermediate was at nearly $89. Meanwhile, gold held a two-day decline as bullion was traded near $4,720 an ounce, after falling more than 2% in the previous session, Bloomberg reported.
Earnings In Focus
Bharat Coking Coal Ltd, Delta Corp Ltd, Havells India Ltd, L&T Technology Services Ltd, Maharashtra Scooters Ltd, Oracle Financial Services Software Ltd, SBI Life Insurance Company Ltd, Tata Communications Ltd, Tech Mahindra Ltd, Trent Ltd.
Earnings Post Market Hours
Persistent Systems (Q4, Cons)
- Revenue up 7.4% at Rs 4,056 crore versus Rs 3,778 crore QoQ.
- Ebit up 4.2% at Rs 659 crore versus Rs 632 crore QoQ.
- Ebit margin down 40 bps at 16.3% versus 16.7% QoQ.
- Net profit up 20.4% at Rs 529 crore versus Rs 439 crore QoQ.
- Note: The board declared a final dividend of Rs 18 per share.
360 ONE WAM (Q4, Cons)
- Revenue down 5.6% at Rs 1,115 crore versus Rs 1,181 crore QoQ.
- Ebitda down 8.6% at Rs 663 crore versus Rs 725 crore QoQ.
- Ebitda margin down 190 bps at 59.5% versus 61.4% QoQ.
- Net profit down 11.8% at Rs 289 crore versus Rs 327 crore QoQ.
- Note: The board declared an interim dividend of Rs 6 per share.
Cyient DLM (Q4, Cons)
- Revenue down 13.8% at Rs 369 crore versus Rs 428 crore YoY.
- Ebitda down 24.9% at Rs 43 crore versus Rs 57.4 crore YoY.
- Ebitda margin down 170 bps at 11.7% versus 13.4% YoY.
- Net profit down 27.7% at Rs 22.4 crore versus Rs 31 crore YoY.
Tata Elxsi (Q4)
- Revenue up 4.2% at Rs 994 crore versus Rs 953 crore QoQ.
- Ebit up 11% at Rs 221 crore versus Rs 199 crore QoQ.
- Ebit margin up 140 bps at 22.3% versus 20.9% QoQ.
- Net profit up at Rs 220 crore versus Rs 109 crore QoQ.
- Note: The board declared a dividend of Rs 75 per share.
Rajratan Global (Q4, Cons YoY)
- Revenue up 25% at Rs 314 crore versus Rs 251 crore.
- Ebitda down 14.2% at Rs 28.6 crore versus Rs 33.3 crore.
- Ebitda margin down 420 bps at 9.1% versus 13.3%.
- Net profit up 1.5% at Rs 15.4 crore versus Rs 15.2 crore.
Tata Investment Corp (Q4, Cons YoY)
- Revenue down 30.98% at Rs 39.98 crore versus Rs 57.92 crore.
- Ebitda down 37.92% at Rs 29.59 crore versus Rs 47.67 crore.
- Ebitda margin down 829 bps at 74.01% versus 82.3%.
- Net profit down 15.33% at Rs 63.83 crore versus Rs 75.39 crore.
- Note: The board declared a dividend of Rs 3.4 per share.
Powerica (Q4, Cons)
- Revenue up 8.3% at Rs 763 crore versus Rs 704 crore YoY.
- Ebitda down 4.5% at Rs 78 crore versus Rs 81.7 crore YoY.
- Ebitda margin down 140 bps at 10.2% versus 11.6% YoY.
- Net profit up at Rs 95.8 crore versus Rs 27.8 crore YoY.
Sunteck Realty (Q4, Cons)
- Revenue up 64.5% at Rs 3,390 crore versus Rs 2,060.5 crore YoY.
- Ebitda up 35.5% at Rs 751 crore versus Rs 554.5 crore YoY.
- Ebitda margin down 475 bps at 22.15% versus 26.9% YoY.
- Net profit up 26.5% at Rs 63.8 crore versus Rs 50.4 crore YoY.
Central Mine Planning & Design Institute (Q4, Standalone)
- Revenue up 11.7% at Rs 827 crore versus Rs 740 crore YoY.
- Ebitda down 28.6% at Rs 238 crore versus Rs 333 crore YoY.
- Ebitda margin down 1623 bps at 28.78% versus 45.01% YoY.
- Net profit down 32.2% at Rs 188 crore versus Rs 277 crore YoY.
HCLTech (Q4, Cons QoQ)
- Revenue up 0.3% at Rs 33,981 crore versus Rs 33,872 crore.
- Ebit down 10.6% at Rs 5,620 crore versus Rs 6,285 crore.
- Ebit margin down 210 bps at 16.5% versus 18.6%.
- Net profit up 10.1% at Rs 4,488 crore versus Rs 4,076 crore.
- Note: Board declared an interim dividend of Rs 24 per share.
Stocks In News
- 360 ONE WAM: The company and its arm have received a tax demand of Rs 336 crore from the Mumbai tax body. Separately, COO Anshuman Maheshwary has been appointed as the new CEO of the Alternates Asset Management business.
- BEML: The company has secured a Rs 590 crore contract from the Ministry of Defence for the supply of Trawl Assemblies.
- Aurobindo Pharma: The board has approved an Rs 800 crore share buyback, planning to repurchase 54.2 lakh shares at Rs 1,475 per share, representing a 6% premium to today's closing price.
- Sonata Software: The company has officially achieved the AWS migration and modernization competency status, strengthening its cloud transformation credentials.
- Hindustan Zinc: The company's board will meet on April 24 to consider the declaration of its first interim dividend.
- SEAMEC: The company announced that its vessel, Agastya, has successfully returned to the field effective April 21 following necessary technical redressals.
- Jayaswal Neco Industries: The company's board is set to meet on April 24 to mull fundraising options, including a Qualified Institutional Placement (QIP).
- City Union Bank: The bank has expanded its network by opening two new branches in Rajasthan and Gujarat, taking its total branch count to 973.
- Karnataka Bank: The bank has entered into a strategic pact with Pine Labs to enhance its Point of Sale (PoS) services.
- Ethos: The luxury watch retailer has inaugurated a new Ethos Watch Boutique in Faridabad to further expand its retail footprint.
- KNR Constructions: The company has successfully secured Rs 130 crore in a settlement agreement with the National Highways Authority of India (NHAI).
- Hexaware Technologies: The company's board is scheduled to meet on April 27 to consider its first interim dividend for FY26.
- L&T Finance: The company has allotted Non-Convertible Debentures (NCDs) worth Rs 500 crore on a private placement basis.
- Delta Corp: Its subsidiary, Marvel Resorts Pvt, has acquired a 74% controlling stake in EPSMPL and SIPL.
- JSW Energy: Its subsidiary, JSW Mahanadi Power Co, received a Rs 1,447 crore demand for water charges from Chhattisgarh, which the company has officially challenged in the High Court.
- Adani Ports: The company announced that its merger with subsidiary Adani Harbour has officially become effective as of April 21.
- SBFC Finance: The board will meet on April 24 to discuss the potential issuance of NCDs and other debt securities.
- Samvardhana Motherson: Its Spanish subsidiary, MRA, has officially merged with the holding company CEFA, resulting in MRA ceasing to exist.
- RPSG Ventures: The company has incorporated a new FMCG subsidiary, RPSG Brands Mena Pvt, to target the Middle East and North Africa (MENA) region.
- S.P. Apparels: The company has invested Rs 6.3 crore in its UK-based subsidiary to support its international operations.
- PNC Infratech: The company has emerged as the L1 Bidder for construction orders worth a massive Rs 3,483 crore from the NHAI.
- Aeroflex Enterprises: The company has acquired an additional 4% stake in MR Org for Rs 5.6 crore, thereby increasing its total shareholding to 68%.
- Motisons Jewellers: The company has signed a Memorandum of Understanding (MoU) with Moti Developers to open a new jewellery showroom in Udaipur.
- Amber Enterprises: The company has successfully completed the rights issue allotment in IL JIN, investing Rs 296 crore in the process.
- Shakti Pumps: The company has invested Rs 10 crore into its electric vehicle subsidiary, Shakti EV Mobility.
- Manappuram Finance: The open offer and preferential share issue to BC Asia Investments have concluded, making the entity an official promoter of the company.
- CG Power: The company has received a revisionary tax demand of Rs 22 crore, which follows a previous tax demand of Rs 189 crore for AY23.
- State Bank of India (SBI): The bank has promoted 8 of its officials to the prestigious post of Deputy Managing Director.
- HDFC Life Insurance: The company has reappointed Vibha Padalkar as Managing Director & CEO for a five-year term, effective September 12.
- Tata Steel: The company has acquired a 26% stake in TP Adarsh, an arm of Tata Power Renewable, for an investment of Rs 6 crore.
- AB Capital: The company's board will meet on May 4 to consider raising funds through various debt instruments.
- Mphasis: Its Ireland-based subsidiary has acquired TAP for CAD 10 million to bolster its service delivery capabilities.
- Indian Hotels: The company has successfully completed the acquisition of Brij Hospital for a total consideration of Rs 222 crore, officially making the entity a subsidiary of the company.
- SEAMEC: The company announced that its offshore vessel, 'Seamec Princess', has successfully completed its assigned job scope effective April 21.
Bulk And Block Deals
OneSource Specialty Pharma: FIDELITY SECURITIES FUND: FIDELITY BLUE CHIP GROWTH FUND bought 20.17 lk shares & NOVA GLOBAL OPPORTUNITIES FUND PCC - TOUCHSTONE
sold 10.57 lk shares at Rs. 1530 per share.
Shringar House of Mangalsutra: WIINANCE FINANCIAL SERVICES bought 7.55 lk shares at Rs. 206.31, ARTHKUMBH VENTURES bought 8 lk shares at Rs. 204.13, THAKKAR VARDHILAL SHIVRAMBHAI sold 15.55 lk shares at Rs. 205.18 per share.
List of securities shortlisted in Short - Term ASM Framework Stage: 63 Moons Technologies, Lloyds Enterprises, Quality Power Electrical Instruments
F&O Cues
- Nifty April futures is up 1.04% to 24,585.50 at a premium of 8.90 points.
- Nifty Options 28th Apr Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 23,000.
Photo Credit: NDTV Profit
Photo Credit: NDTV Profit
Currency Check
The rupee fell 32 paise to close provisionally at 93.48 against the US dollar on Tuesday, pressured by a firm US currency and volatile crude prices amid uncertainty over West Asia peace talks.
ALSO READ: Trade Setup For April 22: Nifty Bulls Eye 24,700 Breakout As Index Extends Gains For Third Session
Securities in ban period: SAIL
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