Good Morning!
The GIFT Nifty, an early indicator for the benchmark Nifty 50, is up 0.14% at 24,550 as of 6:14 a.m. Equity-index futures for the US (S&P 500) dipped 0.11%, while Europe (Euro Stoxx 50) rose 2.52%
India Market Recap
Indian equity benchmarks rallied during the last-hour trade on reports of US nearing to end war with Iran. The NSE Nifty 50 closed up 1.24% at 24,330.95, gaining 298.15 points, while the BSE Sensex ended 1.22% higher at 77,958.52, up 940.73 points.
The White House is nearing a one-page memorandum of understanding with Iran to end the conflict, Axios reported citing US official.
US Market Recap
For second day in a row, US stocks closed at a record high as optimism over an end to the Iran war and bullish results from chipmaker Advanced Micro Devices Inc. The S&P 500 Index advanced 1.5%, with nine of 11 sectors in the green, led by industrials and tech. Energy stocks saw the major declines, falling 4.1% with the fall in oil prices. The Nasdaq 100 Index rose 2.1%, closing at a record, Bloomberg reported.
Asian Market Update
Japanese stocks surged more than 4% on Thursday as the benchmark Nikkei 225 touched the 62,000 mark for the first time with the rally in Asian markets. Nikkei 225 rose 4.18%, driven by gains in basic materials, technology and financial stocks. Heavy weight stock Soft Bank soared more than 10%, while Topix advanced 1.91%. South Korea's Kospi rose 1.17% and small cap Kosdaq declined 0.4%, CNBC reported.
Commodity Check
Oil steadied after falling around 8% in the previous session amid hopes of easing tensions between US and Iran. Brent stood around $102 a barrel, while West Texas Intermediate traded around $96. Gold also steadied following its biggest daily gain since late March with the bullion trading above $4,690 an ounce, after 3% surge on Wednesday, Bloomberg reported.
Earnings In Focus
ACME Solar Holdings, Apollo Pipes, Bajaj Holdings & Investment, Bharat Forge, Biocon, CCL Products (India), Ceigall India, Craftsman Automation, Dabur India, Escorts Kubota, Gateway Distriparks, Globus Spirits, Gravita India, Indoco Remedies, Innova Captab, Kennametal India, Lupin, MRF, NOCIL, NRB Bearings, Pidilite Industries, Prudent Corporate Advisory Services, Route Mobile, Sirca Paints India, Sonata Software, Stylam Industries, Thermax, Thyrocare Technologies, Vijaya Diagnostic Centre, V‑Mart Retail, Westlife Foodworld, Wonderla Holidays
Earnings Post Market Hours
Greaves Cotton
Q4FY26 (Consolidated, YoY)
- Revenue up 21.5% at Rs. 1,000 crore versus Rs. 823 crore.
- EBITDA up 48.6% at Rs. 68.2 crore versus Rs. 45.9 crore.
- EBITDA margin at 6.8% versus 5.6%.
- Net profit down 6.3% at Rs. 22.5 crore versus Rs. 24.1 crore.
Godrej Consumer Products
Q4FY26 (Consolidated, YoY)
- Revenue up 11% at Rs. 3,900 crore versus Rs. 3,514 crore.
- EBITDA up 10.8% at Rs. 841 crore versus Rs. 759 crore.
- EBITDA margin flat at 21.6%.
- Net profit up 9.7% at Rs. 452 crore versus Rs. 412 crore.
- Profit, revenue and EBITDA missed estimates.
- The company declares an interim dividend of Rs. 5 per share.
- Sudhir Sitapati reappointed as MD & CEO for five years.
- Nadir Godrej conveys intention to retire as Non‑Executive Director from August 7.
Blue Star
Q4FY26 (Consolidated, YoY)
- Revenue up 1.3% at Rs. 4,072 crore versus Rs. 4,019 crore.
- EBITDA up 16.8% at Rs. 326 crore versus Rs. 279 crore.
- EBITDA margin at 8% versus 7%.
- Net profit up 17.3% at Rs. 227 crore versus Rs. 194 crore.
- Dividend declared at Rs. 8.5 per share.
Kansai Nerolac Paints
Q4FY26 (Consolidated, YoY)
- Revenue up 7.5% at Rs. 1,954 crore versus Rs. 1,817 crore.
- EBITDA up 30.6% at Rs. 217 crore versus Rs. 166 crore.
- EBITDA margin at 11.1% versus 9.1%.
- Net profit up 3.5% at Rs. 112 crore versus Rs. 108 crore.
Shree Cement
Q4FY26 (Consolidated, YoY)
- Revenue up 10.3% at Rs. 6,101 crore versus Rs. 5,532 crore.
- EBITDA down 3.1% at Rs. 1,384 crore versus Rs. 1,429 crore.
- EBITDA margin at 22.7% versus 25.8%.
- Net profit down 8.5% at Rs. 526 crore versus Rs. 574 crore.
- Final dividend declared at Rs. 70 per share.
Birlasoft
Q4FY26 (Consolidated, QoQ)
- Revenue up 0.1% at Rs. 13,486 crore versus Rs. 13,475 crore.
- EBIT up 2.3% at Rs. 2,299 crore versus Rs. 2,247 crore.
- EBIT margin at 17% versus 16.7%.
- Net profit up 46.8% at Rs. 1,759 crore versus Rs. 1,199 crore.
- Final dividend declared at Rs. 4 per share.
PB Fintech
Q4FY26 (Consolidated, YoY)
- Revenue up 36.7% at Rs. 2,061 crore versus Rs. 1,508 crore.
- EBITDA up 94.3% at Rs. 218 crore versus Rs. 112 crore.
- EBITDA margin at 10.6% versus 7.4%.
- Net profit up 53.5% at Rs. 261 crore versus Rs. 170 crore.
Meesho
Q4FY26 (Consolidated, YoY)
- Revenue up 47.1% at Rs. 3,531 crore versus Rs. 2,400 crore.
- EBITDA loss at Rs. 255 crore versus loss of Rs. 233 crore.
- Net loss at Rs. 166 crore versus loss of Rs. 1,391 crore.
- The company plans to invest up to Rs. 100 crore in Meesho Payments.
CESC
Q4FY26 (Consolidated, YoY)
- Revenue up 5.6% at Rs. 4,096 crore versus Rs. 3,877 crore.
- EBITDA down 8.5% at Rs. 743 crore versus Rs. 812 crore.
- EBITDA margin at 18.1% versus 20.9%.
- Net profit up 18.9% at Rs. 459 crore versus Rs. 386 crore.
Apcotex Industries
Q4FY26 (YoY)
- Revenue up 13.8% at Rs. 397.6 crore versus Rs. 349.4 crore.
- EBITDA up 42.2% at Rs. 54.7 crore versus Rs. 38.4 crore.
- EBITDA margin at 13.75% versus 11%.
- Net profit at Rs. 34.7 crore versus Rs. 16.8 crore.
- Final dividend declared at Rs. 5.5 per share.
Home First Finance
Q4FY26 (YoY)
- Total income up 21.3% at Rs. 505 crore versus Rs. 416 crore.
- Net profit up 42.7% at Rs. 149 crore versus Rs. 105 crore.
- Dividend declared at Rs. 5.2 per share.
- Approves NCD issuance of up to Rs. 1,000 crore.
Bajaj Auto
Q4FY26 (Standalone, YoY)
- Revenue up 31.8% at Rs. 16,006 crore versus Rs. 12,148 crore.
- EBITDA up 35.6% at Rs. 3,323 crore versus Rs. 2,451 crore.
- EBITDA margin at 20.8% versus 20.2%.
- Net profit up 34% at Rs. 2,746 crore versus Rs. 2,049 crore.
- Board approves buyback of Rs. 5,633 crore at Rs. 12,000 per share.
- Final dividend declared at Rs. 150 per share.
- Rakesh Sharma appointed Joint MD from June 1.
Brigade Enterprises
Q4FY26 (Consolidated, YoY)
- Revenue flat at Rs. 1,458 crore.
- EBITDA down 12.3% at Rs. 365 crore versus Rs. 416 crore.
- EBITDA margin at 25% versus 28.5%.
- Net profit down 41% at Rs. 145.5 crore versus Rs. 247 crore.
- One bonus share for every three shares held approved.
Sula Vineyards
Q4FY26 (Consolidated, YoY)
- Revenue up 7.3% at Rs. 134.9 crore versus Rs. 125.7 crore.
- EBITDA down 2.2% at Rs. 27.7 crore versus Rs. 28.4 crore.
- EBITDA margin at 20.6% versus 22.6%.
- Net profit down 34% at Rs. 8.6 crore versus Rs. 13 crore.
- Final dividend declared at Rs. 2 per share.
eMudhra
Q4FY26 (Consolidated, YoY)
Revenue up 31.7% at Rs. 193.4 crore versus Rs. 146.9 crore.
EBITDA up 20.8% at Rs. 42 crore versus Rs. 34.8 crore.
EBITDA margin at 21.7% versus 23.7%.
Net profit up 21.5% at Rs. 29.6 crore versus Rs. 24.3 crore.
Paytm
Q4FY26 (Consolidated, QoQ)
Revenue up 3.2% at Rs. 2,264 crore versus Rs. 2,194 crore.
EBITDA down 15.4% at Rs. 132 crore versus Rs. 156 crore.
EBITDA margin at 5.8% versus 7.1%.
Net profit down 18.2% at Rs. 184 crore versus Rs. 225 crore.
Aptus Value Housing Finance
Q4FY26 (Standalone, YoY)
Total income up 7.3% at Rs. 397 crore versus Rs. 370 crore.
Net profit up 3.5% at Rs. 176 crore versus Rs. 170 crore.
The company declares a second interim dividend of Rs. 2.5 per share and approves NCD issuance of up to Rs. 3,000 crore.
R Systems International
Q4FY26 (Consolidated, YoY)
Revenue up 30% at Rs. 574.7 crore versus Rs. 442.4 crore.
EBITDA up 33.7% at Rs. 100.5 crore versus Rs. 75.2 crore.
EBITDA margin at 17.5% versus 17%.
Net profit up 69.5% at Rs. 65.4 crore versus Rs. 38.6 crore.
Hexaware Technologies
Q1FY27 (Consolidated, QoQ)
Revenue up 3.9% at Rs. 3,613 crore versus Rs. 3,478 crore.
EBIT up 88.9% at Rs. 480 crore versus Rs. 254 crore.
EBIT margin at 13.3% versus 7.3%.
Net profit up 20.5% at Rs. 352 crore versus Rs. 292 crore.
Results include one‑time cost of Rs. 111 crore in Q4CY25.
Raymond Lifestyle
Q4FY26 (Consolidated, YoY)
Revenue up 18.9% at Rs. 1,777 crore versus Rs. 1,494 crore.
EBITDA at Rs. 118.5 crore versus Rs. 13.6 crore.
EBITDA margin at 6.7% versus 0.9%.
Net loss at Rs. 52.1 crore versus loss of Rs. 45 crore.
Results include a one‑time loss of Rs. 67 crore.
Avalon Technologies
Q4FY26 (Consolidated, YoY)
Revenue up 40% at Rs. 480 crore versus Rs. 342.8 crore.
EBITDA up 37.5% at Rs. 56.9 crore versus Rs. 41.3 crore.
EBITDA margin at 11.8% versus 12.1%.
Net profit up 69.6% at Rs. 41.2 crore versus Rs. 24.3 crore.
Muthoot Microfin
Q4 net profit at Rs. 71.1 crore versus loss of Rs. 401 crore Y oY;
AUM up 13.3% to Rs. 14,006 crore.
Stocks In News
- Zaggle Prepaid Ocean Services: Signs an agreement with Supreme Industries to provide its Zaggle Propel reward platform.
- Allied Blenders: Receives LOI for DM2 (MGO) licence from Andhra Pradesh government to set up a greenfield IMFL bottling plant with capacity of 46.5 lakh cases.
- Motilal Oswal Financial Services: Arm Motilal Oswal Asset Management appointed sponsor of a pension fund under NPS by PFRDA.
- Trent: Fixes June 4 as the record date for issuance of bonus shares.
- TD Power Systems: Board to consider stock split on May 14.
- Dabur India: Step‑down arm Dabur International incorporates a step‑down subsidiary in the US.
- BASF India: Clarifies that the Hyderabad global services hub belongs to BASF Global Business Services, a Germany‑based arm; Indian entity holds no stake.
- Amara Raja Energy: Launches services under the brand Amaron Assist.
- Ashiana Housing: April area booked at 0.85 lakh sq ft with booking value of Rs. 91.4 crore.
- Servotech Renewable: Receives order from South Central Railway for 1,415 kW rooftop solar systems.
- Privi Speciality Chemicals: Receives no‑objection for amalgamation scheme between PSCL, PFSPL, and PBPL.
- SCI Land & Assets: Signs MoU with NBCC for construction of Maritime Training Institute at Powai.
- Omaxe: Arm receives RERA certificates for two projects in Uttar Pradesh.
- Midwest: Kerala government selects the company as lead partner for a rare‑earth elements pilot plant project.
- Arvind: Arm to acquire 100% stake in Arvind Advanced Materials US TopCo Inc; arm also acquires 61% stake in US‑based Dalco to enter technical textiles.
- EFC (India): Incorporates new arm EFC Estate Wakadewadi 1.
- Jio Financial Services: Invests Rs. 300 crore in Jio Finance Platform & Services to fund business operations.
- Waaree Energies: Arm signs PPA with Solar Energy Corporation to develop a 300 MW wind power project in Gujarat.
- UltraTech Cement: Receives tax order of Rs. 809 crore from Mumbai authority.
- Entero Healthcare: Gets MCA Chennai approval for amalgamation of Chethana Pharma and CPD Pharma into Rada Medisolutions.
- Mahindra Lifespace: Launches residential project in Mumbai with potential GDV of Rs. 1,650 crore.
- Capacite Infraprojects: Redeems NCDs worth Rs. 75 crore.
- Muthoot Microfin: Q4 net profit at Rs. 71.1 crore versus loss of Rs. 401 crore YoY; AUM up 13.3% to Rs. 14,006 crore.
- JSW Infrastructure: Files plea in Himachal Pradesh High Court challenging demand notices issued by state authorities.
- TeamLease Services: Files appeal in Gujarat High Court challenging EPFO order related to PF applicability on NEEM trainees.
Raymond Lifestyle: The company appoints CEO Satyaki Ghosh as Additional Director and Whole‑Time Director for a term of five years.
Rossell Techsys: The company secures an order from an overseas defence customer for manufacturing electrical wire harnesses.
Arisinfra Solutions: The company receives a Developer‑as‑a‑Service (DAAS) order from The Wadhwa Group for the Wise City township project in Panvel. Project GDV is estimated at Rs. 650 crore, with potential upside of Rs. 400 crore.
Gandhar Oil Refinery: The company acquires land in Silvassa for Rs. 23 crore.
Ravindra Energy: The company provides a corporate guarantee to Energy In Motion covering an EV lease backed by Tata Capital. The guarantee is capped at 50% of the Rs. 20 crore lease value.
Lemon Tree Hotels: The company terminates the agreement for Keys Select Hotel Nestor due to non‑payment of fees and deposits.
Spectrum Electrical Industries: The company signs an MoU with the Maharashtra government, proposing an investment of Rs. 110 crore in the state.
Biocon: The clarify that Ms. Kiran Mazumdar-Shaw continues to serve as the Executive Chairperson of Biocon Limited and is not stepping down from her role. CEO & Managing Director Mr. Shreehas Tambe, which continues to manage and drive the Company's business operations.
Bulk & Block Deals
Nitco : Rashi Fincorp sold 23 lk shares at Rs. 95.09 per share, Mathew Cyriac bought 20 lk shares at Rs. 95.05 per share
India Pesticides: Delta Capital Investment-FZCO sold 13.82 lk shares at Rs. 163.97 per share
SG Finserve : S Gupta Holding bought 3.32 lk shares at Rs. 569.41 per share
Shares to exit anchor Lock-in
Studds Accessories: 6 months lock in, 24 mn lock in shares, 60% of total outstanding shares
Board Meeting
IIFL Capital Services- Fund Raising
Harsha Engineers International- Fund Raising
Biocon- Fund Raising
Price band
Price Band change from 20% to 10%: HFCL, MEDIA MATRIX WORLDWIDE
Short Term ASM
List of securities shortlisted in Short - Term ASM Framework Stage: Bharat Wire Ropes
List of securities to be excluded from ASM Framework: Delta Corp, Network People Services Technologies, Shaily Engineering Plastics
F&O Cues
Nifty May futures is up 1.49% to 24,466.30 at a premium of 135.35 points
Nifty Options 15th May Expiry: Maximum Call open interest at 25000 and Maximum Put open interest at 23000.
Currency Check
The Indian rupee strengthened against the US dollar to close 66 paise higher at 94.63 on Wednesday, on the back of renewed truce talks hopes between the United States and Iran.
On Tuesday, the Indian currency had weakened against the US greenback to settle at 95.29. close. However, it opened 25 paise stronger at 95.04 on May 6.
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