Asian equity futures were mixed and the dollar held losses on Thursday after treasury yields fell on signs of easing inflationary pressure in the U.S.
Contracts for the S&P 500 were little changed after the benchmark rose 0.4% Wednesday. Nasdaq 100 futures were also steady following a 1.1% rise in the tech-heavy benchmark, which closed at the highest level since August.
The move in the Japanese currency weighed on the nation's equity futures, which inched lower alongside Australian contracts. Futures for Hong Kong were marginally higher.
Headline U.S. inflation eased to 4.9% in April, the first reading below 5% in two years and below consensus expectations. Core inflation remained at 5.5%.
Meanwhile, the yield on 10-year treasuries in U.S. was trading at 3.43%. Crude prices traded below $77-mark, while Bitcoin declined below 28,000-level.
At 6:09 a.m., the Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index's performance in India, was up 0.20% at 18,395.
Domestic benchmark indices picked up towards the end of session after swinging between gains and losses.
The Indian rupee inched against the U.S. dollar as the greenback suffered due to cautious investor sentiment.
Foreign investors were net buyers for the tenth straight day and bought equities worth Rs 1,833.13 crore. On the other hand, domestic institutional investors turned sellers, and sold stocks worth Rs 789.67 crore, snapping a two-day buying streak, the NSE data showed.
Earnings FineprintÂ
Larsen & Toubro Q4FY23 Results (YoY)
Revenue up 10.4% at Rs 58,335.15 crore (Bloomberg estimate: Rs 58,907.23 crore)
Ebitda up 4.8% at Rs 6,832.95 crore (Bloomberg estimate: Rs 7,146.99 crore)
Ebitda Margin: 11.7 % vs 12.3% (Bloomberg estimate: 12.1%)
Net Profit up 10.98% at Rs 4,446.74 crore (Bloomberg estimate: Rs 3,965.1 crore)
The board approved a final dividend of Rs 24 per share for the financial year 2022-23.
Dr Reddy's Laboratories Q4 FY2023 (Consolidated, YoY)
Revenue up 15% at Rs 6,315 crore (Bloomberg estimate: Rs 6,248 crore)
Ebitda up 33% to Rs 1,588 crore (Bloomberg estimate: Rs 1,591 crore)
Ebitda margin at 25.1% vs 21.8% (Bloomberg estimate: 25.5%)
Net profit up 889.79% at Rs 960 crore (Bloomberg estimate: Rs 1,034 crore)
The company approved a final dividend of Rs 40 per share for the fiscal 2023.
Godrej Consumer Products Q4 FY23 (Consolidated figures, YoY)
Revenue up 10% at Rs 3,200.16 crore (Bloomberg estimate: Rs 3,249.47 crore)
Ebitda up 32% to Rs 664.81 crore (Bloomberg estimate: Rs 617.84 crore)
Ebitda margin at 20.8% Vs 17.2% (Bloomberg estimate: 19%)
Net profit up 24% at Rs 452.14 crore (Bloomberg estimate: Rs 430 crore)
Gujarat Gas Q4 FY23 (Consolidated, YoY)
Revenues down 15.87% at Rs 3928.57 crore (Bloomberg estimate: Rs 4,156.38 crore)
Ebitda down 19.66% at Rs 560.32 crore (Bloomberg estimate: Rs 432.80 crore)
Margins at 14.26% vs 14.94% (Bloomberg estimate: 10.41%)
Net profit down 16.63% at Rs 370.5 crore (Bloomberg estimate: Rs 261.58 crore)
The board recommended a dividend of Rs 6.65 per share for the fiscal ended March 2023.
Procter & Gamble Hygiene & Health Care Q4 FY23 (Consolidated, YoY)
Revenues down 9.26% at Rs 883.09 crore (Bloomberg estimate: Rs 971.5 crore)
Ebitda down 9.54% at Rs 149.27 crore (Bloomberg estimate: Rs 208 crore)
Ebitda margin at 16.9% vs 16.95%(Bloomberg estimate: 21.4%)
Net profit up 60.45% at Rs 165.02 crore (Bloomberg estimate: Rs 151.60 crore).
Q4 Results Today
Asian Paints, Eicher Motors, PDS, Deepak Nitrite, Balrampur Chini Mills, Zensar Technologies, Ujjivan Small Finance Bank, Intellect Design Arena, Dr Lal Pathlabs, Care Ratings, Siemens, Aditya Birla Capital, Ajmera Realty & Infra India, Alkyl Amines Chemicals, BLS International Services, DCW, Everest Industries, Gillette India. Gujarat State Petronet, GTL Infrastructure, Kirloskar Brothers, Mangalore Chemicals & Fertilizers, Neuland Laboratories, Paisalo Digital, PTC India Financial Services, Religare Enterprises, SG Finserve, Shankara Building Products, South Indian Bank.
Stocks To Watch:Â L&T, Dr. Reddy's, Asian Paints, Eicher Motors, HDFC, Godrej Consumer In Focus
Larsen & Toubro: AM Naik will step down as non-executive chairman of the company from Sept. 30, and will be conferred the status of chairman emeritus. SN Subrahmanyan, the chief executive officer & managing director, has been re-designated as the chairman and managing director of the company, with effect from Oct. 1, 2023.
Rail Vikas Nigam/Siemens: The consortium of the two companies received an order worth Rs 300.11 crore from Mumbai Metropolitan Region Development Authority for design, manufacture, supply, installation, testing and commissioning of two 110KV receiving substations for main line and depot of Mumbai Metro line 2B. Siemens is the lead consortium partner with 60% share, and RVNL holds 40% share.
Oil India: Stimul-T, the owner of Project License-61 oil block in Tomsk, Russia, has filed for bankruptcy. Oil India owns 50% stake in WorldAce tnvestment, the parent company of Stimul-T, through its subsidiary Oil India International BV. Meanwhile, the Numaligarh refinery allotted 20.03 crore partly paid-up shares to the company on May 10 at Rs 110 per share, taking its stake in the refinery to 73.27%.
CSB Bank: Satish Gundewar has been appointed as chief financial officer of the company effective June 5, 2023, following resignation of BV Divakara.
Zydus Lifesciences: The company received establishment inspection report from the U.S. FDA for the inspection conducted at its facility in Moraiya, Ahmedabad without any observations. The pre-approval inspection, conducted from Jan. 23 to 27, covered transdermal patch products.
HDFC: SEBI granted its final approval for the change in control of HDFC Asset Management Company, a subsidiary of HDFC.
Offerings:Â Nexus Select Trust REIT IPO
Nexus Select Trust REIT: The issue was subscribed 60% by the second day, as per data shared by lead manager Axis Capital. The QIB portion was subscribed 18%. Non-institutional investors placed bids for 1.1 times the portion reserved for them.
Who's Meeting Whom
Piramal Enterprises: To meet analyst and investors on May 16.
Ugro Capital: To meet analyst and investors on May 12.
Meghmani Organics: To meet analyst and investors on May 11.
Kotak Mahindra Bank: To meet analyst and investors on May 15.
Elgi Equipments: To meet analyst and investors on May 19.
Five-Star Business Finance: To meet analyst and investors on May 11.
Hindustan Construction Company: To meet analyst and investors on May 18.
Trading Tweaks
Ex-Date Final Dividend: IndiaMART InterMESH
Record Date Final Dividend: IndiaMART InterMESH
Ex-Date Interim Dividend: Kewal Kiran Clothing
Record Date Interim Dividend: Kewal Kiran Clothing
Ex-Date Bonus Issue: Sirca Paints India
Record Date Bonus Issue: Sirca Paints India
Insider Trading
Rajnish Wellness: Promoter Rajnish Kumar Singh bought 2 lakh shares on May 8.
F&O Cues
Nifty May futures ended at 18,342.85, a premium of 36.45 points.
Nifty May futures fell 1.08% and 2,429 shares in Open Interest.
Nifty Bank May futures ended at 43,315, a premium of 112.80 points.
Nifty Bank May futures fell 3.30% and 2,958 shares in Open Interest.
Securities added to the ban period: Bharat Heavy Electricals, Canara Bank, Manappuram Finance, Gujarat Narmada Valley Fertilizers & Chemicals
Securities removed from the ban period: Nil
Money Market Updates
Rupee closed 0.07% higher against the U.S. dollar at Rs 81.99 on Wednesday, compared to Tuesday's close of 82.04.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.