Stock Market Today: All You Need To Know Going Into Trade On April 26

Asian markets are poised to decline after U.S. benchmarks slid on Tuesday as fears of a banking crisis resurfaced. Contracts for equity indexes in Japan, Australia and Hong Kong all declined after the S&P 500 slid 1.6% on Tuesday and the Nasdaq 100 slipped 1.9%.

U.S. futures advanced after markets closed in New York, following better-than-expected earnings from Microsoft Corp. and Alphabet Inc. that sparked an after-hours rally in their shares.

First Republic Bank shares tumbled 49% after the lender’s disappointing earnings on Monday, rekindling fears over the health of the US banking sector. UBS Group AG shares slid after results fell short of expectations, while Spotify Technology SA rose 5% after subscriber number surged.

Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.40%. Crude prices traded below $81-mark, while Bitcoin was trading above 28,000-level.

At 5:35 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 0.30% at 17,733.5.

Domestic benchmark indices, Sensex and Nifty, pared losses to close near the day’s high, both rising 0.1% with the advances in public sector banks and energy stocks.

Indian rupee closed flat against the U.S. dollar as the rise in domestic equities was countered by forex outflows and hardening crude prices.

Foreign investors were net sellers for the seventh day on Tuesday and offloaded equities worth Rs 407.35 crore, according to data from the National Stock Exchange. On the other hand, domestic institutional investors were buyers for the fourth straight day and mopped up stocks worth Rs 563.61 crore.

Bajaj Auto Q4 FY23 (Consolidated, YoY)

• Revenue rose 12% to Rs 8,904.7 crore (Bloomberg estimate: Rs 8,567 crore)

• Ebitda rose 26% to Rs 1,716.6 crore (Bloomberg estimate: Rs 1,572 crore)

• Ebitda margin stood at 19.28% vs 19.07% (Bloomberg estimate: 18.3%)

• Net profit fell 2% to Rs 1,432.9 crore (Bloomberg estimate: Rs 1,353 crore)

• The company approved a dividend of Rs 140 per share for the fiscal 2023.

Tata Consumer Products Q4 FY23 (Consolidated, YoY)

• Revenue up 14% at Rs 3,618.73 crore (Bloomberg estimate: Rs 3,511.21 crore)

• Ebitda up 15% to Rs 511.67 crore (Bloomberg estimate: Rs 442.90 crore)

• Ebitda margin at 14.1% Vs 13.9% (Bloomberg estimate: 12.6%)

• Net profit up 23% at Rs 268.59 crore (Bloomberg estimate: Rs 267.63 crore)

• The company declared a final dividend of Rs 8.45 per share for the year ended March 2023.

Tata Steel Long Products Q4 FY23 (Consolidated, QoQ)

• Revenue up 42.76% at Rs 3,015.81 crore

• EBITDA loss narrows to Rs 41.99 crore from Ebitda loss of Rs 372.05 crore

• Net loss narrows to Rs 501.63 crore from loss of Rs 769.53 crore

AU Small Finance Bank Q4 FY23 (Consolidated)

• Net interest income up 30% at Rs 1,213.21 crore (YoY)

• Net profit up 23% at Rs 424.63 crore (YoY) (Bloomberg estimate: Rs 388.06 crore)

• GNPA at 1.66% Vs 1.81% (QoQ)

• NNPA at 0.42% Vs 0.51% (QoQ)

• The bank’s board recommended a dividend of Rs 1 per share, subject to shareholders’ approval.

Dalmia Bharat Q4 FY23 (Consolidated, YoY)

• Revenue up 15.74% at Rs 3,912 crore (Bloomberg estimate: Rs 3,867 crore)

• Ebitda up 3.51% at Rs 707 crore (Bloomberg estimate: Rs 797.36 crore)

• Ebitda margin at 18.07% vs 20.21% (Bloomberg estimate: 20.6%)

• Net profit up 121.43% at Rs 589 crore (Bloomberg estimate: Rs 343.08 crore)

• The company announced a final dividend Rs 5 per share for the fiscal ended March 2023.

Mahindra CIE Automotive Q1 CY24 (Consolidated, YoY)

• Revenue up 18.41% at Rs 2,440.20 crore (Bloomberg estimate: Rs 2390.05 crore)

• Ebitda up 35.74% at Rs 380.65 crore (Bloomberg estimate: Rs 332.20 crore)

• Ebitda margin at 15.6% vs 13.61% (Bloomberg estimate: 13.9%)

• Net profit up 72.92% at Rs 279.10 crore (Bloomberg estimate: Rs 188.60 crore)

• The board of directors approved a final dividend of Rs 2.5 per share for the year ended December 2022.

Mahindra Lifespace Developers Q4 FY23 (Consolidated, YoY)

• Revenue up 57.87% at Rs 255.37 crore

• Ebitda loss of Rs 27.37 crore vs Ebitda loss of Rs 35.68 crore

• Net profit down 99.61% at Rs 0.54 crore

• The board recommended a dividend of Rs 2.30 per share for the fiscal ended March 2023.

Lloyds Metal and Energy Q4 FY23 (Consolidated, YoY)

• Revenue up 163% at Rs 876.25 crore vs Rs 333.21 crore

• Ebitda up 35% at Rs 164.55 crore vs Rs 122.14

• Ebitda margin at 18.78% vs 33.65%

• Net profit up 118% at Rs 269.04 crore vs Rs 123.37 crore

Anant Raj Q4 FY23 (Consolidated, YoY)

• Revenue up 29.75% at Rs 280.15 crore

• Ebitda up 195% at Rs 73.67 crore

• Ebitda margin at 26.3% vs 11.58%

• Net profit up 118% at Rs 49.4 crore

• The company declared a final dividend of Rs 0.50 per share for the previous fiscal.

• Maruti Suzuki India, SBI Life Insurance Company, HDFC Life Insurance, Voltas, UTI Asset Management Company, Bajaj Finance, L&T Technology Services, IIFL Finance, Can Fin Homes, Indus Towers, JTL Industries, KPIT Technologies, Poonawalla Fincorp, Oracle Financial Services Software, Shoppers Stop, Supreme Petrochem, Syngene International, Tanla Platforms

• KPI Green Energy: The company commissioned a 26.1 MW wind-solar hybrid power project at Bhungar site in Bhavnagar under Gujarat Wind-Solar Hybrid Power Policy, 2018.

• UCO Bank: The board will convene on May 2 to consider raising equity capital via follow-on public offer, qualified institutions placement, preferential issue, etc. for the fiscal 2024. The board will also consider the financial results for the quarter and year ended March 2023, as well as dividend for the fiscal 2023.

• Bata India: The company appointed Anil Ramesh Somani as chief financial officer of the company for five years with immediate effect. The board also approved appointment of Ravindra Dhariwal as non-executive non-independent director for two years, starting May 27, 2023.

• Bajaj Auto: The board of the two-wheeler manufacturer approved the reappointment of Rakesh Sharma as whole-time director of the company for another five years, effective Jan. 1, 2024.

• JSW Holdings: The company denied reports claiming that it is in talks to acquire stock in auto companies BYD India and MG Motor India.

• Cipla: The company will dissolve wholly owned step-down subsidiary Madison Pharmaceuticals with effect from April 28. Madison is a dormant entity, and its dissolution will not affect the performance or revenue of the company, Cipla said.

• Thermax: The company liquidated wholly owned subsidiary Thermax Sustainable Energy Solutions as per the order by Mumbai bench of National Company Law Tribunal. The voluntary liquidation will not have any impact on the financial, the company said.

• Mankind Pharma: The pharmaceutical company received bids for 14% of offer size on the first day of its IPO. Institutional investors subscribed 8% of their basket, whereas HNIs bid for 33% of their portion. The retail portion was subscribed 10% on the opening day.

• CMS Info Systems: WF Asian Reconnaissance Fund sold 14.83 lakh shares (0.96%) at Rs 280.01 a piece, ICICI Prudential Mutual Fund bought 7.81 lakh shares (0.51%) at Rs 280 apiece.

• Prime Focus: A2R Holdings bought 35.26 lakh shares (1.17%) and Naresh Mahendranath Malhotra sold 35.26 lakh shares (1.17%) at Rs 85.70 apiece.

• Stove Kraft: Emerging Business Fund bought 3.03 lakh shares (0.91%) at Rs 373 apiece.

• Ex-Date Interim Dividend: Vesuvius India

• Record-Date Interim Dividend: Vesuvius India

• Move Out Short-Term ASM Framework: Prime Focus

• Gati: Promoter TCI Finance released a pledge of 4.88 lakh shares on April 18.

• Nifty April futures ended at 17,776, a premium of 12.10 points.

• Nifty April futures fell 18.89% and 33,739 shares in Open Interest.

• Nifty Bank April futures ended at 42,660, a premium of 7.65 points.

• Nifty Bank April futures fell 29.58% and 26,272 shares in Open Interest.

• Securities added to the ban period: Zee Entertainment Enterprises

• Securities removed from the ban period: Nil

• Rupee closed flat against the U.S. dollar at Rs 81.92 on Tuesday, compared to Monday’s close of 82.91.

• Nestle India Q1 Results Review — Volume Neutralises Raw Material Price Inflation: Prabhudas Lilladher

• Nestle India Q1 Results Review - Strong Growth Across Verticals: Dolat Capital

• Nestle India Q1 Results Review - Beat On Growth, Resilient Margins Merit Outperformance: Systematix

• Nestle India Q1 Results Review - Robust Growth Across Categories: ICICI Direct

• Navin Fluorine - Dahej Site To Enable Strong, Sustainable Growth: Prabhudas Lilladher

• NRB Bearings - Gearing Up For The ‘Next Normal’: HDFC Securities

• Ipca Labs - Reviving U.S. Hopes Through Unichem Acquisition: Motilal Oswal

• Sun Pharma - Non-Compliance Letter On Mohali Facility; Worst Case Expect 2-3% Earnings Hit: Systematix

• Apollo Hospitals - Bridging Gaps For Comprehensive Patient Service: Motilal Oswal