Stock Market Today: All You Need To Know Before Going Into Trade On April 24

Good Morning!

The GIFT Nifty, an early indicator for the benchmark Nifty 50, is down 0.14% at 24,124.5 as of 6:17 a.m. Equity-index futures for the US (S&P 500) and Europe (Euro Stoxx 50) dipped 0.41% and 0.32% respectively.

US President Donald Trump said Israel and Lebanon will extend their ceasefire by three weeks, amid ongoing tensions Iran. Trump announced the deal in a social-media post after meeting Israeli and Lebanese envoys in the Oval Office on Thursday.

Indian Market Recap

Indian equity benchmarks closed lower for a second consecutive trading session. The BSE Sensex fell 852 points to end at 77,664, while the NSE Nifty 50 closed 0.84% lower at 24,173. Indian equity benchmarks ended lower for a second straight session, with the Nifty closing below 24,200 and down over 0.8%. Trent and Shriram Finance were the top losers on the index, each falling more than 3.5%.Broader markets outperformed the benchmark, though both ended in the red. 

US Market Recap

Fresh volatility rattled markets as stocks fell with oil rising amid concerns of escalating geopolitical concerns that is likley to extend the Strait of Hormuz closure. The rally in S&P 500 halted with the index tumbling around 1.3%. Meanwhile, Intel Corp shared soared over a strong outlook, Bloomberg reported.

Asian Market Update

Asian market opened mixed amid geopolitical uncertainties. Japan's Nikkei 225 advanced 0.71% and Topix rose 0.30% as core inflation in Japan boosted for the first time in five months, soaring 1.8% in March, with Iran war fueling energy worries. Meanwhile, South Korea's Kospi dropped 0.23% and the small-cap Kosdaq remained flat, CNBC reported.

Commodity Check 

Oil jumped for the  fifth day, marking its longest gains since January, amid uncertainty over talks between the US and Iran. Brent rose above $106 a barrel, nearing a weekly gain of about 17%, while West Texas Intermediate was at around $97. 

Earnings In Focus

Adani Green Energy Ltd, Atul Ltd, Bhansali Engineering Polymers Ltd, Can Fin Homes Ltd, Chennai Petroleum Corporation Ltd, DCB Bank Ltd, Hindustan Zinc Ltd, Indusind Bank Ltd, Lodha Developers Ltd, L&T Finance Ltd, Mahindra & Mahindra Financial Services Ltd, Mangalore Refinery and Petrochemicals Ltd, Reliance Industries Ltd, Shriram Finance Ltd, Supreme Petrochem Ltd, Tanla Platforms Ltd, Zensar Technologies Ltd.

ALSO READ: RIL Q4 Results Preview: Modest Revenue Growth, Margin Compression To Weigh On Profit

Earnings Post Markets

Adani Energy Solutions (Q4, Cons YoY)

• Revenue up 16.8% at Rs 7,443 crore versus Rs 6,375 crore.
• Ebitda down 4.7% at Rs 2,145 crore versus Rs 2,251 crore.
• Ebitda margin down 650 bps at 28.8% versus 35.3%.
• Net profit up 5.7% at Rs 684 crore versus Rs 647 crore.

LTM (Formerly LTIMindtree) (Q4, Cons QoQ)

• Revenue up 4.7% at Rs 11,292 crore versus Rs 10,781 crore.
• EBIT down 1.6% at Rs 1,709 crore versus Rs 1,737 crore.
• EBIT margin down 100 bps at 15.1% versus 16.1%.
• Net profit up 43.4% at Rs 1,392 crore versus Rs 971 crore.

Tata Capital (Q4, Cons QoQ)

• Total Income up 2.3% at Rs 8,162 crore versus Rs 7,979 crore.
• Net profit up 19.5% at Rs 1,502 crore versus Rs 1,256 crore.

Infosys (Q4, Cons QoQ)

• Revenue up 2% at Rs 46,402 crore versus Rs 45,479 crore.
• EBIT up 2.8% at Rs 9,743 crore versus Rs 9,479 crore.
• EBIT margin up 20 bps at 21.0% versus 20.8%.
• Net profit up 27.8% at Rs 8,501 crore versus Rs 6,654 crore.. 

Cyient (Q4, Cons QoQ)

• Revenue up 4.2% at Rs 1,927 crore versus Rs 1,849 crore.
• EBIT down 6.8% at Rs 156 crore versus Rs 167 crore.
• EBIT margin down 95 bps at 8.08% versus 9.03%.
• Net profit down 40.3% at Rs 54.8 crore versus Rs 91.8 crore.

Mahindra Logistics (Q4, Cons YoY)

• Revenue up 14.1% at Rs 1,791 crore versus Rs 1,570 crore.
• Ebitda up 44.6% at Rs 112 crore versus Rs 78 crore.
• Ebitda margin up 132 bps at 6.27% versus 4.95%.
• Net profit at Rs 20.2 crore versus a loss of Rs 6.8 crore.

UTI AMC (Q4, Cons QoQ)

• Total Income down 22.4% at Rs 402 crore versus Rs 518 crore.
• Net loss at Rs 67 crore versus a profit of Rs 121 crore.
• Note: The board declared an interim dividend of Rs 40 per share.

IEX (Q4, Cons YoY)

• Revenue up 22.5% at Rs 174.3 crore versus Rs 142.2 crore.
• Ebitda up 23.1% at Rs 149 crore versus Rs 121 crore.
• Ebitda margin up 41 bps at 85.68% versus 85.27%.
• Net profit up 10.8% at Rs 129.8 crore versus Rs 117.1 crore.

Himadri Speciality Chemical (Q4, Cons YoY)

• Revenue up 13.5% at Rs 1,288 crore versus Rs 1,135 crore.
• Ebitda up 3.6% at Rs 242 crore versus Rs 233 crore.
• Ebitda margin down 180 bps at 18.8% versus 20.6%.
• Net profit up 29.1% at Rs 201 crore versus Rs 156 crore.

Blue Stone Jewellery (Q4, Cons YoY)

• Revenue up 47.7% at Rs 681 crore versus Rs 461 crore.
• Ebitda at Rs 126 crore versus Rs 27 crore.
• Ebitda margin up 1250 bps at 18.4% versus 5.9%.
• Net profit at Rs 32 crore versus a loss of Rs 51 crore.

Choice International (Q4, Cons YoY)

• Revenue up 21.2% at Rs 307 crore versus Rs 253 crore.
• Ebitda up 20% at Rs 116 crore versus Rs 96.2 crore.
• Ebitda margin down 30 bps at 37.7% versus 38.0%.
• Net profit up 16.7% at Rs 60.3 crore versus Rs 51.7 crore.

Business Updates

United Breweries (Q4)

• Heineken India saw revenue grow in the low single digits, with volumes increasing in the mid-single digits.
• Premium beer growth reached the mid-teens, largely driven by the Ultra brand, and 'Kingfisher Smooth' was officially launched in India.

Aditya Birla Real Estate (FY26)

• The company's real estate arm, Birla Estates, reported a robust booking value of Rs 8,136 crore for FY26.
• Collections for the arm were up by 23.5% YoY.

Gujarat Gas (Operational Update)

• The company ensured an uninterrupted gas supply to the Morbi unit to support the revival of the local ceramic industry, providing price stability amid ongoing geopolitical disruptions that previously caused a surge in raw material costs.
• Gas consumption in Morbi has rebounded to ~2.70 Mmscmd in April after operations of several ceramic units were suspended in March, which had temporarily affected the livelihood of nearly 2 lakh workers.

Stocks In News

• Dabur India: The FMCG major has appointed Herjit S. Bhalla as the new Chief Executive Officer for its India Business.
• Saatvik Green Energy: The company has appointed Rishabh Mehtta as its Interim CFO. Concurrently, it marks its entry into the power equipment manufacturing sector by acquiring an 80% stake in Melcon Transformers for Rs 2.4 crore.
• Ceigall India: The company has incorporated a new special purpose vehicle, 'Ceigall Ambala Chandigarh', which will function as a step-down subsidiary.
• Power Finance Corporation (PFC): The state-run company has appointed Rajesh Kumar Agarwal as its new Director of Finance.
• InterGlobe Aviation (IndiGo): The airline received a warning letter from the DGCA concerning airfares charged during December, advising caution and adherence to government orders. The DGCA noted that the company has already completed corrective measures, including processing refunds.
• CIE Automotive: The company's board of directors has given the green light for a merger with its subsidiary, CIE Aluminium Casting.
• EPACK Durable: The consumer durables manufacturer reports that Narayan Lodha has resigned from his dual roles as Executive Director and Chief Financial Officer.
• Vardhman Textiles: The textile firm has acquired a 31.2% stake in ReNew Green for Rs 24.3 crore to facilitate the setup of a 19 MW AC Hybrid Power Plant in Madhya Pradesh.
• Himadri Speciality Chemical: The company has successfully commenced operations at its new anode material production facility in West Bengal, which boasts an installed capacity of 200 MTPA.
• Ashoka Buildcon: The infrastructure developer has successfully redeemed Non-Convertible Debentures (NCDs) amounting to Rs 100 crore.
• Bank of Baroda: The Government of India has extended the tenure of Debadatta Chand as Managing Director and CEO for an additional three years.
• Bank of India: In a similar move, the Government has extended the tenure of Rajneesh Karnatak as Managing Director and CEO for another three years.
• Aster DM Healthcare: The hospital chain has completed the acquisition of a 26% stake in Oyster for a consideration of Rs 5.8 crore.
• STL Networks: A UK court has dismissed the claim filed by Comex against the company's arm, Clearcomm Group, culminating in an out-of-court settlement payment of £25,000 by STL.
• Larsen & Toubro (L&T): The engineering conglomerate has expanded its tech footprint by incorporating a new subsidiary, Vyoma.AI, on April 22.
• Godawari Power: The company's arm, GNEPL, has signed a supply agreement with Roche Energy to deploy a 5 MWh Battery Energy Storage System (BESS) block at a plant in Maharashtra.
• Birla Corp: The cement manufacturer has commenced operations at the Bikram Coal Mine in Shahdol, Madhya Pradesh, clarifying that the mine has extractable reserves of 9.44 MMT rather than an annual production capacity of that size.
• Tube Investments: The company is set to invest Rs 75 crore in 3xper Innoventure via Compulsorily Convertible Preference Shares (CCPS), as part of a larger Rs 100 crore infusion where promoter Govindarajan will chip in Rs 25 crore.
• Azad Engineering: The company has amended its existing supply pact with a Baker Hughes arm, successfully extending the turbomachinery supply deal through to 2030.
• Tata Power: The power utility has incorporated a new subsidiary named TP Urja with an initial capital of Rs 5 lakh.
• Inventurus Knowledge Solutions: The company has announced a major cross-border acquisition, signing a deal to buy US-based healthcare IT firm TruBridge for up to $565 million.
• IIFL Finance: The NBFC's board will meet on April 29 to discuss potential fundraising through the issuance of non-convertible securities for FY27.
• Go Digit General Insurance: The company has received 'no-objection' certificates from the BSE and NSE, allowing it to file its proposed merger scheme with Go Digit Infoworks with the NCLT.
• Star Cement: The company's subsidiary, Star Cement North East, has acquired a 100% stake in Jaitaran Renewable to bolster its green energy portfolio.
• SPML Infra: The company's board has approved the issuance of 95.4 lakh warrants worth Rs 177 crore and decided to increase its capital expenditure to Rs 238 crore (from Rs 176 crore) to expand its BESS capacity to 5 GWh.
• Bharat Wire Ropes: Market data shows Lloyds Metals has purchased a 2.91% stake (20 lakh shares) in the company, while Lloyds Enterprises picked up a 2.4% stake (16.5 lakh shares).
• Aequs: The aerospace components maker's board has approved a merger scheme involving three of its subsidiaries: ASMIPL, AEPPL, and AFCPPL.
• Rolex Rings: The auto components manufacturer's board has officially approved a share buyback program of up to Rs 180 crore.
• HG Infra Engineering: The company has divested its subsidiary, HG Raipur, selling it to the Neo Infra Income Opportunities Fund for Rs 282 crore.
• Force Motors: The automaker has executed an agreement to acquire Veera Tanneries for Rs 162 crore, turning it into a wholly-owned subsidiary.
• IIFL Capital Services: Multiple subsidiaries of the company have received a cumulative tax demand of Rs 56 crore from the Mumbai tax body.
• Equitas Small Finance Bank: The Reserve Bank of India (RBI) has approved the re-appointment of Vasudevan P N as the bank's MD and CEO for a further three years.
• AU Small Finance Bank: The RBI has granted approval for Vivek Tripathi to take on the role of Whole-time Director for a three-year term.
• Isgec Heavy Engineering: The company's shareholders have given the green light to the appointments of Aditya Puri as Managing Director, alongside Kishore Chatnani and Sanjay Gulati as Joint Managing Directors.
• Krishna Institute of Medical Sciences (KIMS): The hospital chain has entered into a Memorandum of Understanding (MoU) with Dakshayani Health to collaborate on cancer research and the establishment of new care centers.
• Swan Defence: The company will hold a shareholder meeting on May 25 to deliberate on the proposed merger scheme involving Triumph Offshore.
• BSE: The Ministry of Corporate Affairs has approved the merger of two BSE subsidiaries - BSEINV and BASL - with BSE Tech, meaning the two arms will cease to exist as separate entities.
• Apcotex Industries: The company has acquired a 5.12% strategic stake in Opera Vayu Narmada for Rs 3.4 crore.
• Pace Digitek: The company has inked a partnership with NEC XON to market and distribute its products across five African nations.
• Lux Industries: The apparel maker's board has given in-principle approval to demerge the business into three distinct verticals (with Verticals A and C being listed separately) while the PKT family retains overall control following a family settlement that also revises brand licensing pacts.
• Sheela Foam: Following its merger with Kurlon, the company announced that a trust has offloaded fractional shares on the open market, with the sale proceeds set to be distributed to eligible shareholders.

Bulk & Block Deals 

• Hubtown: MAHESH DINKAR VAZE bought 10.01 lakh shares at Rs. 214.84 per share, ALTIUS FINSERV sold 9 lakh shares Rs. 215.11 per share.
• JTL Industries: MADHU NIRMAL JAIN bought 20 lakh shares at Rs. 74.85 per share

List of securities shortlisted in Short - Term ASM Framework Stage: BF Utilities, JTL Industries, Stallion India Fluorochemicals, Baazar Style Retail, V-Marc India
List of securities to be excluded from ASM Framework: Gallantt Ispat, New India Assurance Company, TIL, Vidya Wires

Price Band

• Price Band change from 10% to 5%:  Indo Tech Transformers, Websol Energy System.
• Price Band change from 20%  to 10%: JNK India, JTL Industries, Quality Power Electrical Equipments.

Currency Check

The rupee declined for a fourth straight session on Thursday, closing 33 paise lower at 94.11 provisionally. It breached the 94 mark for the second time in a month, pressured by surging crude oil prices as West Asia peace talks faced growing uncertainty.

F&O Cues

Nifty April futures is down 0.88% to 24,166.00 at a discount of 7 points.

Nifty Options 28th Apr Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 23,000.    

FII DIII
Photo Credit: NDTV Profit

Securities in ban period: SAIL

ALSO READ: Trade Setup For April 24: Nifty Support Slips To 24,050 As Bulls Step Back On Negative Global Cues

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