U.S. equity futures and Asian equities rose on Thursday amid concerns over surging inflation.
Equities were modestly in the green in Japan, South Korea and Australia. U.S. futures advanced after positive earnings from Tesla Inc. and United Airlines Holdings Inc. The Nasdaq 100 tumbled as Netflix Inc. weighed on streaming and media companies post its earnings.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose 0.42% to 17,218.50 points as of 6:30 a.m.
Nymex crude rose to more than $102 per barrel. Elsewhere, bitcoin hovered around the $41,500 mark.
Earnings Post Market Hours
Angel One Q4 FY22 (Consolidated, QoQ)
Revenue up 12.38% to Rs 671.28 crore vs Rs 597.32 crore
EBIT up 22.04% to Rs 279.8 crore vs Rs 229.26 crore
EBIT margin at 41.68% vs 38.38%
Net profit up 24.4% to Rs 204.69 crore vs Rs 164.54 crore
Tata Elxsi Q4 FY22 (Consolidated, QoQ)
Net profit up 6% to Rs 160.01 crore vs Rs 150.95 crore
Revenue up 7.29% to Rs 681.74 crore vs Rs 635.41 crore
EBITDA up 4.92% to Rs 218.07 crore vs Rs 207.84 crore
EBITDA margin at 31.9% vs 32.7%
Dividend of Rs 42.50 per equity share announced
ICICI Securities Q4 FY22 (Consolidated, QoQ)
Net profit fell 10.8% to Rs 338.81 crore vs Rs 380.21 crore
Revenue fell 5.3% to Rs 891.49 crore Vs Rs 941.63 crore
EBIT fell 8% to Rs 545 crore vs Rs 592.12 crore
EBIT margin at 61.12% vs 62.88%
Approved final dividend of Rs 12.75 per share
Glenmark Lifesciences Q4 FY22 (Consolidated, QoQ)
Net profit fell 4.6% to Rs 98.9 crore vs Rs 103.71 crore
Revenue fell 1.6% to Rs 514.06 crore vs Rs 522.5 crore
EBITDA fell 1.5% to Rs 147.31 crore vs Rs 149.6 crore
EBITDA margins 28.7% vs 28.6%
Stocks To Watch
Tata Steel: The company has stopped doing business with Russia. All steel manufacturing sites in India, the UK and the Netherlands are now sourcing raw material from elsewhere.
Oil India: The company has commissioned a green hydrogen pilot plant at its Jorhat, Assam, pump station to produce 10 kg of the clean fuel per day. It has initiated a detailed study to explore blending of green hydrogen with natural gas and its effect on the existing infrastructure of Oil India.
L&T: India's largest engineering firm has signed a memorandum of understanding with the Indian Navy to become its knowledge partner for nurturing various technologies in electrical, weapon, engineering, machinery and control, and hull of a naval warship.
Gland Pharmaceuticals: Nicomac Machinery is selling 20.45 lakh shares equivalent to 1.5% stake in Gland Pharma. The floor price has been set at Rs 3,118 per share. There is an option to upsize the deal.
Dr. Reddy's Laboratories: The company has launched Posaconazole Delayed-Release Tablets, 100 mg, the therapeutic generic equivalent to NOXAFIL (posaconazole) Delayed-Release Tablets in the US.
Earnings today: Crisil, Cyient, HCL Technologies, ICICI Lombard General Insurance, L&T Technology Services, Nestle India, Tata Communications
Pledged Shares Details
Sterling and Wilson Renewable Energy: Shapoorji Pallonji revoked pledge on 2.06 crore shares on April 18.
Bulk Deals
HBL Power Systems: Banyantree Growth Capital sells 19.75 lakh shares (0.71% stake) at 65.25 apiece.
Manali Petrochemicals: Premier Investment Fund sells 8.83 lakh shares (0.51% stake) at 141.04 apiece.
Rama Steel Tubes: Eriska Investment Fund bought 1 lakh shares (0.59% stake) at Rs 430 apiece.
BLS International Services: Saint Capital Fund bought 5.25 lakh shares (0.51% stake) at Rs 340 apiece.
Trading Tweaks
Price band revised from 20% to 10%: Jindal Worldwide
Ex-date annual general meeting: Huhtamaki India
Moved into short-term ASM framework: Hubtown, Cinevista
Moved out of short-term ASM framework: Neuland Laboratories, Suryoday Small Finance Bank, Shree Renuka Sugars, DCB Bank, Yes Bank, Marksans Pharma, Ramco Systems, IOL Chemicals and Pharmaceuticals, Morepen Laboratories, Suzlon Energy
Money Market Update
The rupee ended Rs 76.20 at against the U.S. Dollar on Wednesday as compared to Tuesday's closing of 76.50.
F&O Cues
Nifty April futures ended at 17,172.85, a premium of 36.3 points.
Nifty April futures shed 12.13% and 23,442 shares in Open Interest.
Nifty Bank April futures ended at 36,455, a premium of 140.1 points.
Nifty Bank April futures shed 5.09% and 4,615 shares in Open Interest.
Securities in the ban list: Tata Power
Research Reports
Larsen & Toubro Infotech Q4 Result Review - Sturdy Growth; Robust Demand Continues: Axis Securities
Mindtree Q4 Result Review - Maintains Guidance Of 20%+ Ebitda Margin: ICICI Direct
ACC Q1 CY22 Result Review - Margins Bottom-Out; Growth Visibility Intact: Centrum Broking
Telecom Sector Update - Industrywide SIM Consolidation Continues: Motilal Oswal
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